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Short Sales
July 20, 2009

Today I received word that the bank has refused an offer on a short sale I have listed. Was the price to low? No, the home is priced at fair market value and a full price offer was tendered. The bank cited the fact that the air conditioner had been stolen and the home spray painted as the reason for not accepting the offer???? This home was listed without the air unit as it been stolen before the home was listed as well as being spray painted by kids.( an assumption on my part). The buyer offered full price for the home as well as replacing the air unit and painting the home using his own money before closing! So what can the bank be thinking??? As it stands the home is not financeable (no air) and is in danger of having a mold problem with no air moving in the home. All of this has been brought to the banks attention but,,,,,,, Here lies part of the housing problem and it is starting to compound. I did a search for another buyer today and I turned up 51 homes matching my criteria, Whoops I forgot to take out short sales. After I removed the short sales 10 homes popped up. That leaves 41 homes I refuse to show and sadly 41 owners in desperate need to sell their homes, and possibly save their credit. Until the banks and the minions that work for them get real the housing problem will continue leaving buyers , sellers and Realtors frustrated.