I first heard about Pocket Listings in San Diego several years ago. I was lead to believe it was always a selfish move by the real estate agent trying to hoard as much commission as possible. Why would any homeowner want to secretly sell their home? The only way to get top-dollar for your home is by marketing it to as many homebuyers as possible…right?
Come to find out, a Pocket Listing much be initiated by the home seller. In some cases of distress such as a Short Sale, the homeowners don’t want anyone to know the home is for sale. If a homeowner makes this request and the agent takes the listing, they must work a little harder to market the property within their sphere/office. No sign in the yard. No listing in the MLS. It’s actually pretty neat this is even possible! I can completely understand a homeowner’s desire to NOT explain to every nosey-neighbor what their personal situation may be with the home. This is a great solution for anyone who wants to do a Short Sale, avoid Foreclosure, and ultimately still get the job done. Of course, it’s much easier to do this in a Seller’s Market like the one we have right now. If that were to change, Pocket Listings could quickly become much less effective.
Listen to today’s Mr Credit Radio show podcast here:
Highlights from today’s show:
– Please help the family of fallen Arizona firefighter Andrew Ashcraft to receive the benefits they were promised and rightfully owed by signing this petition: Help the Ashcraft Family get what they Deserve.
– Economists predictions about GDP were way off. This is why we have seen several straight days in the RED for the Stock Market. Funny how they got this info many days before we did… Read the story here: Economists miss GDP predictions badly.
– San Diego Realtor, Hugo Sanchez, talks about his personal experience with distress property sales and why he enjoys helping people avoid Foreclosure in Chula Vista.
– Jon “JJ” Jerotz, our San Diego Mortgage Expert, discusses the difference between Modular, Manufactured and traditional construction and how that affects the financing of your dream home. The modular may be much less expensive, but what are the risks?
– William McDonald, Bankruptcy Attorney in San Diego and very good friend of mine joined us today to give insight on a couple of really detailed real estate related debt circumstances. The one thing I always find when working through these issues with William…he always knows the right things to think about and the right way to bring them up. It’s no wonder people rave about his firm on Kudzu and to me on a regular basis.
– How old is too old to buy a home? Never! There is always a real estate strategy you can make sense with, regardless of your timeline.
– One of the best real estate opportunities in all of San Diego right now is commercial zone property in Downtown. You would not believe how cheap it is and how many big things will be happening in downtown over the next decade. INSANE. If you are interested in learning more, let me know.
Categories: Bankruptcy, Buying Real Estate, Foreclosure, Law, Mortgages, Pocket Listings in San Diego, San Diego Real Estate Market, Selling your home, Short Sale, stop a foreclosure, The Mortgage Debt Relief Act