Realtor-Should I be concerned?

airics · 07-02-2009, 08:53 AM

you definitely need to be prequalified.. if you don't like your realtor or are uncomfortable, get another one.. there are alot of realtors out there.. also make sure their license in still active.

olecapt · 07-02-2009, 10:21 AM

Quote:

Originally Posted by pommysmommy

We are looking for a retirement home in Las Vegas and plan to be there this weekend. We were planning to meet with a local realtor who was going to show us some properties. Today he/she sent me an email that we would meet first to discuss our search criteria. (Our search criteria is very clear and we plan to make no changes). I replied that we were interested in a specific property that already has an offer pending. He/She replied that it would be a waste of time in 110 degree heat to look at homes not currently available and that all the "good" homes had multiple offers and that we should focus on available properties. I replied to him/her that this was our retirement property and that we did not want to settle for less. Why would a realtor tell a client that he/she planned to show properties that are not "good"? I am feeling very uncomfortable at this point regarding this realtor's interest in our needs vs his/her commission. Am I being unreasonable? Thank you.

You appear to be a reasonable candidate for a short sale. That is you have no short term deadline and can wait out the short sale process. You can of course bid on REOs and non-distressed. You can also bid on more than one property, a good idea on shorts and REOs.

I would also not be surprised if the agent was looking for a Buyer's Broker Agreement. Agent's are becoming leery of the market for shorts and REOs cutting commissions and are using a BBA to avoid the loss of part of the commission. Also limits you to that agent for a term.

Not normal in Nevada but a big push is on.

pommysmommy · 07-02-2009, 08:08 PM

Quote:

Originally Posted by jjameson922

Good point Airics and one I forgot to mention. From that list, then you can do your own research. If something looks interesting, Google it on ground level to see the surrounding neighborhood and check the assessors website to see what it previously sold for. Very likely the meet before we go out was intended to determine what would be your means of purchase and if you need to be prequalified beforehand for a loan.

We are already receiving the listings from the realtor and we are pre qualified. There are no listings available that meet our criteria. The ones that did have offers pending. The realtor suggested today that we should come prepared to place offers on 10 homes that are above the asking price. That is not possible because there is not one, let alone, 10 homes that we would consider for purchase. We will just bide our time until the frenzy dies down. We are in no hurry.

pommysmommy · 07-02-2009, 08:12 PM

Quote:

Originally Posted by olecapt

You appear to be a reasonable candidate for a short sale. That is you have no short term deadline and can wait out the short sale process. You can of course bid on REOs and non-distressed. You can also bid on more than one property, a good idea on shorts and REOs.

I would also not be surprised if the agent was looking for a Buyer's Broker Agreement. Agent's are becoming leery of the market for shorts and REOs cutting commissions and are using a BBA to avoid the loss of part of the commission. Also limits you to that agent for a term.

Not normal in Nevada but a big push is on.

I believe that the BBA was the purpose of the prior meeting because we had already delineated what we were looking for in a property. I don't want to commit with this realtor because he/she seemed not to understand that we were not buying as an investment. We are planning to do some driving around various neighborhoods this weekend to get a feel of life off the Strip.

airics · 07-02-2009, 08:12 PM

what is it that you are looking for that there is nothing out there? 3500sf in a golf community for 175k?

olecapt · 07-02-2009, 08:23 PM

Quote:

Originally Posted by pommysmommy

I believe that the BBA was the purpose of the prior meeting because we had already delineated what we were looking for in a property. I don't want to commit with this realtor because he/she seemed not to understand that we were not buying as an investment. We are planning to do some driving around various neighborhoods this weekend to get a feel of life off the Strip.

Check out the Sun Cities. Particularly Summerlin, MacDonald Ranch and Aliante. They tend to have the better deals below 200K. Try the NW as well There are some really nice deals in Iron Mountain Ranch/Spring Mountain Ranch/Lynwood/Nelson Ranch/Log Cabin/Aliante and the other such places.

pommysmommy · 07-02-2009, 08:33 PM

Quote:

Originally Posted by airics

what is it that you are looking for that there is nothing out there? 3500sf in a golf community for 175k?

Not at all. We are looking for a single story 3 bedroom home in the Southeast that is at least 1800 square feet. We want a covered patio with a decent size back yard and an attached two car garage. We don't want a fixer upper on the house itself but are willing to do our own backyard landscaping. We preferred two masters but realize this is very rare in a home. We will settle for decent sized bedrooms. We will consider a two story if there is a bedroom downstairs. No SIDS or LIDS.

pommysmommy · 07-02-2009, 08:37 PM

Quote:

Originally Posted by olecapt

Check out the Sun Cities. Particularly Summerlin, MacDonald Ranch and Aliante. They tend to have the better deals below 200K. Try the NW as well There are some really nice deals in Iron Mountain Ranch/Spring Mountain Ranch/Lynwood/Nelson Ranch/Log Cabin/Aliante and the other such places.

We do not want to consider age restricted communities and we would like to live within a relatively short ride of the strip in a safe neighborhood.

Both my husband and brother in law have a theory about "one foot in the grave" when you live in an age restricted community. Superstitious, I know, but I have to respect their feelings.

jjameson922 · 07-03-2009, 07:01 AM

That's unfortunate that you do not want to consider age restricted communities because being at the price point you are, the neighborhood will probably be comprised of first time homebuyers with young kids or the mature downsizing market anyways. Plus being somewhat close to the Strip is not where the best neighborhoods are nor where most locals choose to live. Driving around will be good for you and very productive. Think about getting out away from that Strip to check out the real beauty of the area, especially into some of the great areas that have been suggested to you. Hope you have a great trip.

pommysmommy · 07-03-2009, 07:26 AM

Quote:

Originally Posted by jjameson922

That's unfortunate that you do not want to consider age restricted communities because being at the price point you are, the neighborhood will probably be comprised of first time homebuyers with young kids or the mature downsizing market anyways. Plus being somewhat close to the Strip is not where the best neighborhoods are nor where most locals choose to live. Driving around will be good for you and very productive. Think about getting out away from that Strip to check out the real beauty of the area, especially into some of the great areas that have been suggested to you. Hope you have a great trip.

I agree with you. I just have to work on the phobia my husband and brother in law have. I think Anthem would be a perfect area for us. Thank you and have a great 4th of July.