Tampa homes falling off the MLS listings

[bentlebee]

Originally Posted by Purple_Princess

No offense but why is it my job to try and "save" families in pre foreclosure by overpaying for a house? I worked hard and lived WAY below my means to comfortably afford the home of my dreams and I will get it for less. Far less if possible. Thats part of the problem in our country. Personal responsibility and hard work have been replaced with "rescue me". Tell ya what, give me 700 billion bux on top of a personal fortune of a few million and Ill help out the struggling folks OK?

I agree with you...all the people who are getting good deals, that is what having a free market is all about. (only the people who were lied to by the mortgage brokers, are not to blame, but I guess that is not even 5%)

Not spreading my and your wealth around by giving these people a free pass for signing mortgage papers for houses they never could afford and buying above their means.

No getting the wealth our self by saving, spending wisely and buying smart and cheap good homes and let the value go up and sell them or stay and live there.

Of course all the people who are in this mess are for spreading our wealth to them so they don't have to pay the price for their mistakes and so they can start over and do the same and don't have to pay for the mortgage they signed, the car loan, the the study loan, the plastic surgery, the fitness equipment, the boats, the pool in their backyard...no let them go free and give them a check on top of that...that is what Obama is all about and many of these stupid people who signed the papers like to get this all for free and our money as well.

[58robbo]

Originally Posted by seajoy88

My husband and I have plans to move to the Tampa area and were looking back in May of this year, but the recent mess with the economy has delayed our plans a little. Even so, we've kept multiple homes from the MLS listing saved in searches on realtor.com just to see if any go down in price. But just this week, 5 homes that we were watching dropped off the MLS. I cannot tell if they were sold or what. These homes are all in the high 400s and low 500s.

Is there a sudden selling of homes in Tampa? Or is there some other reason why they would be removed from the MLS? I think a couple were owned by banks.


Thanks, Joy

i opened 2 realtor.com accounts and followed 200 properties since may 2006. i also have an account which i pay to use on realtytrac. not a week goes by when less than 5 places drop their prices. there are some weeks when multiple places are removed. at first i thought i was missing the boat but now i see with every real sale, comps get adjusted and prices come down.

the worst thing about this are those places which are removed without a trace. i know of 2 people whose places were foreclosed on. they're both empty and for over 6 months not one of them has made it to realtytrac, mls, realtor.com and nothing has changed on the hillsborough county appraiser site.

if you're worried about losing out, don't. the banks have tons of inventory that they haven't even bothered to rent out or list. at some point when the banks stop being bailed out this excess inventory will have to find its way to market and prices will most definitely drop further. imo

[58robbo]

Originally Posted by bentlebee

You are so lucky that the bank didn't take your offer, you might have a cheaper chance on a house that you might like even more or perhaps the same house for even less...maybe it even changed banks, since the mortgage papers could have been sold.

i agree with bentlebee. if the bank had accepted your offer then you'd be kicking yourself today. when i first started looking in in 2006 i chucked out a few lowballs to test the market. they were laughed off. if they had any foresight they'd have accepted and i'd be deep under water!

[58robbo]

Originally Posted by Playball40

No, realtors use recent sales to try to set the home price. It is the BANKS that are either not responding or refusing the offers....only to have them back in foreclosure six months to a year later and then having to sell them MUCH less than if they had just accepted the reasonable offer on the Short Sale. The Realtors want the foreclosures/short sales OFF the market. The banks don't seem to have an interest in selling because they are NOT in the business and often times are clueless as to current property value trend.

this is the negative spinoff of the bailout. banks were in no position to sit on inventory let alone pay hoa fees, maintenance, utilities and taxes. now that the government has propped up these banks with your tax dollars, they no longer need to liquidate their inventory. it is for this reason that the numbers of empty houses are rising, renters are being forced out and we're experiencing a delay in finding the bottom.

my wife works for a major law firm in london and she says some mortgage debt is being sold at 10 cents on the dollar. wouldn't it be great if they allowed the free market to work so that small buyers could get a fair deal and not have to sit around worrying about being underwater as soon as they pass escrow.

[58robbo]

Originally Posted by summergal

First off it's best to use your own realtor so you get wise advice.


I think you're not understanding what a short sale is. Of course realtors list the properties... that's how they get on the MLS. They work for the seller (homeowner) as the sellers agent. The seller decides the price. Their realtor only offers an opinion. If the owner is trying to get a short sale, which IS the best, most logical course of action when looking into the face of foreclosure, the realtor will list it that way if that is what the sellers wishes.

I find this so amazing how our economy is struggling because of the mortgage "meltdown" and all the foreclosures, yet people are willing to NOT even consider looking at short sales listings, but rather have more foreclosures! OMGosh this is crazy. I'm sure some realtors are goobers but jimminy christmas! To refuse to even look is sad. I think the buyers out there should stop trying to act like RE investors. This rebelious demand or expectation for rock bottom, blue light special prices is hurting the whole RE market, letting more foreclosures proceed when they didn't have to, and ultimately is hurting everyone by keeping the economy slowed. Just get on with it and buy the house you like for a fair price and stop beating the homeowners up who need to sell. Think about it.

i hold very deep contempt for what you write here. you are telling people that they have a moral obligation to overpay to help struggling homeowners?! sellers and homeowners have had their time in the sun. it will be a buyers market in a year or so from now and because of the denial that you, some realtors, the banks and government are obviously in, the inevitable is being delayed.
i have waited a long time for prices to correct in line with what people earn. now that it's happening and prices are moving towards where they are justified you pull out the sympathy /moral obligation card.

[58robbo]

Originally Posted by bentlebee

I agree with you...all the people who are getting good deals, that is what having a free market is all about. (only the people who were lied to by the mortgage brokers, are not to blame, but I guess that is not even 5%)

Not spreading my and your wealth around by giving these people a free pass for signing mortgage papers for houses they never could afford and buying above their means.

No getting the wealth our self by saving, spending wisely and buying smart and cheap good homes and let the value go up and sell them or stay and live there.

Of course all the people who are in this mess are for spreading our wealth to them so they don't have to pay the price for their mistakes and so they can start over and do the same and don't have to pay for the mortgage they signed, the car loan, the the study loan, the plastic surgery, the fitness equipment, the boats, the pool in their backyard...no let them go free and give them a check on top of that...that is what Obama is all about and many of these stupid people who signed the papers like to get this all for free and our money as well.

with due respect, mccain is no different. i voted baldwin (overseas ballot) and it was great to vote my mind for a change and not for the lesser of 2 evils. their support for the bailout cemented my decision

[DataCollector]

From my experience, you really need to look at the specific neighborhood to gauge the price of a home. A friend bought a $205k house in an established area. The house was built in 1957; 3 bedrooms, 2 bathrooms, and nice old trees. With $205k, you can easily get a brand new house with all the new features. But his reasoning was that the neighborhood was established, it was close to everything, and it was an area were he did not have to worry about a shopping plaza just popping out of his backyard. He figured since the neighborhood is an established one that there would be less foreclosure and that the houses were filled with friendly neighbors.

To tell you the truth, he had a point. There are a lot of "new" neighborhoods with foreclosed properties in the area. His neighborhood did not have any foreclosed houses and the neighbors seemed nice because they did not have to worry about the foreclosure mess. Many of them were original homeowners.

[Playball40]

Originally Posted by summergal

Short sales don't involve the realtors. It's an agreement between the mortgage co and the owner. It may mean the seller is very motivated which is what you want. Just because the property goes into foreclosure does not mean it will be a deal. Banks often still try to get close to market price.

Realtors ARE involved in short sales. They facilitate them all the time. Many specialize right now in SS, but often times it pays to wait until foreclosure because of the banks slow responses.

[Playball40]

Originally Posted by 58robbo

this is the negative spinoff of the bailout. banks were in no position to sit on inventory let alone pay hoa fees, maintenance, utilities and taxes. now that the government has propped up these banks with your tax dollars, they no longer need to liquidate their inventory. it is for this reason that the numbers of empty houses are rising, renters are being forced out and we're experiencing a delay in finding the bottom.

my wife works for a major law firm in london and she says some mortgage debt is being sold at 10 cents on the dollar. wouldn't it be great if they allowed the free market to work so that small buyers could get a fair deal and not have to sit around worrying about being underwater as soon as they pass escrow.

This went on LONG before the bailout.

[58robbo]

Originally Posted by Playball40

This went on LONG before the bailout.

i have no problem with banks holding onto inventory. as long as they're doing it with their money, not taxpayer money!