Friday, November 09, 2012

Bait and Switch

Bait and Switch.  Another term from the past making a resurgence.

Here's an example:
http://www.trulia.com/property/3098871064-5458-Acorn-Dr-Wrightwood-CA-92397

From the listing:
  This is a short sale listing-listing price is not guaranteed.

The realtor is trolling for clients.  The bank is trolling for comps.  the seller is no longer in the loop.  

Listed for $93/sf it would be a bargain.  I'd close in 30 days on this if it were real.  Problem being, it is not real.  Bad banks, nonexistent regulation, immoral agents, uneducated buyers all combine to benefit the note holders.  

We will follow this one to see where it goes.  

2 comments:

TJandTheBear said...

Checking new listings every day in Arrowhead area ran across this:

http://www.cbskyridge.com/default.cfm/page/forsale/cat/display/mlsid/mls_lakearrowhead/propertytype/residential/ml_number/2121428/referer/Search%20Results.htm

Listed immediately as "contingent".

Rob Dawg said...

Checking new listings every day in Arrowhead area ran across this...
Listed immediately as "contingent".

Yup. The new real estate is not about a fair piece of a transaction as much as it is about making a deal.

Your listing is every bit the lie as is mine. I will continue to follow it.