Residential Real Estate

Before the holidays -- which I hope everyone had a Happy and Joyful Holiday -- from this miserable excuse of a market...  Sorry.  I digressed.

Let's start over: Before the Holidays, I had been in contact with several Agents listing REO properties.  They were hard up for an offer; and, they had been sending me numerous, unsolicited marketing materials about their bank owned properties (almost) begging for an offer.

Unforunately -- for me -- my clients were/still are on the sidelines waiting for some form of an offical word that the Las Vegas market had hit bottom.  So, getting them to even make a low ball offer is pretty much impossible.

That's when, I realised: "Who are making these offers on these properties that are all of the sudden, they are "off-the-market!" and/or "under contract?"

So, starting today, I started calling all of my buyer/seller contacts.  And, of course, I had to leave them voice mails because (apparently) they haven't returned from their holidays -- yet?

But, as the month of January, 2011 grows, and as it turns into February, 2011, you can be sure that I will be calling them (well, not everyday).  And the reason will be, that IF these Listing Agents are all of the sudden getting properties "under contract" during the actual Holidays; my clients need to step up. 

OR, are these Listing agents really telling the truth?

And the reason I question this is that one of these "under contracts" is from the Listing Agent that had said to me that FDIC would not pay a procuring commission on a property.  It is (probably) most likely NOT under contract because he was upset I called the FDIC to call his bluff.  Hmm.  Time will tell if he's is telling the truth.  (Hint: He lied to me at least once.)

Then, again.  Most real estate agents lie.  So, there is not any questions as to why (lay) people think real estate agents are sleazy.

Also, I received an indirect confirmation of my client telling me about six to eight months ago, that the FDIC, Fannie Mae, and Freddie Mac will in the near future be selling properties at a severe discount.  I read it in a Las Vegas Sun Q & A Article.  Check it out.

For Information about Las Vegas Commercial Investment Property, contact David Howes at: david@davidhowes.net