Posted on 06/08/2010 8:12:20 AM PDT by davidosborne
I recently sold my home and I am currently looking to buy a new home here in Tallahassee, Florida. So my only source on this is MYSELF.. for now.. and I am looking for FReeper input on my question.
Like every other town in America our housing market is in crisis.. that is NOT breaking news.. what I am finding out here in Tallahassee, and likely in other cities across america is that there seems to be an INTENTIONAL manipulation of the market going on that I can't put my finger on.
When I find a home in short sale/foreclosure, which there are MANY there always seems to be a mysterious/Annonymous/Unnamed "investor" involved in the process of negotiating a fair price for the house.. the houses end up sitting indefinately UNSOLD because this annonymous "investor" gets to decide if an offer is "fair" and the owner, presumably the bank, and the buyer do not have any say in the matter.
I hate to use the term "conspiricy" here, but it sure hints of it...
MY QUESTION: Is our goverment local/state/federal the "investor" that is trying to prevent houses from selling for less than what the market demands because they are trying to prevent SALES..to keep the home "values" UP artificially? Fair question?
I look forward to reading FReeper responses
The company holding the mortgage can refuse any offer. It is going to take a loss and can decide, based on your offer, whether it’s too big or not.
Also since it’s an institution, probably a bank, the person in the bank has no personal skin in the game and so may act capriciously or “worse” - steer deals to his/her “friends.”
I have personally experienced that myself. An agent flat out refusing to put in an offer because they want the current deal on the table to be had without competition. I assume that is illegal if not at minimum unethical
bump
Banks have a private valuation as to the real value of a house based on the other homes in foreclosure and sale in the area. THIS IS NOT A PUBLIC NUMBER. in fact they visciously protect it from court discovery rules under a work product theory.
FL legislature tried to make this valuation discoverable and mandatory for disclosure to file a foreclosure case. In the end it went no where.
In addition the traunches that own the note or piece of the note have no way to give approval to a short sale so there is no valid way to approve.
It is all a scam and the banks are concealing it.
“And why are they controlling the market? What better way to control people’s movements?”
That is a truism! Once the market shows any sign of improvement, a lot of people who need to move and haven’t because of the huge financial loss they would take, will then put their houses on the market in droves and skew the figures once again.
I have never understood that ompany,s choice for a corporate name. Wachovia has two indicated pronunciations, neither one can inspire confidence. I would never do business with a company with a name like Watchoverya or Walkoverya.
conspiracy
I don’t think it is safe to consider any HA as anything but tyrants. History does not dictate future.
A Florida Court decided that the original loan agreement papers have to be presented for a bank or other entity to foreclose. For LOTS of these mortgages there are no original papers.
What is that site?
>>Once the market shows any sign of improvement, a lot of people who need to move and haven’t because of the huge financial loss they would take, will then put their houses on the market in droves and skew the figures once again.<
Actually, the reverse is probably truer. People who NEED to move will have already moved, despite the losses. People who WANT to move will do so when and if the time is right. I am in that category. having missed my window of opportunity, I have made alternate plans and can afford to ride out another wave.
That’s not necessarily skewing the figures, so much as it is regaining freedom to move.
bump
Wow, this certainly is suspicious. I’m not certain if it’s the government directly, however with how many bank execs have got sweethearts in the govt, it would make sense that they come into play somewhere.
Good question; hard to say...if they are let to drop in value all at once, it would crush this country. But, I don’t trust those in charge. Barry wouldn’t mind them dropping in value and the country collapsing as it would be good Cloward-Piven in action. So, that tells me they aren’t holding them up entirely. On an aside, Barry does have a strategy with Acorn to allow homeless to take over foreclosed properties...homeless living in the house next to you paid for by your taxes...your money...that story isn’t covered anywhere.
Don’t have an answer for you. But I would not be the least bit surprised. It could be people in the realitors gild to. When housing drops they loss percentage of sales. Obviously local/state loss also in the form of sales tax etc..
I wrote many of the same suspicions early in 2009. I think a lot of these foreclosures are being held for friends, relatives, etc. of the banksters.
This is the site to find out if Freddie Boy holds your Mortgage.
https://ww3.freddiemac.com/corporate/
And is the stock market being manipulated by Rahm Emanuel’s hedge fund and Soros’ funds?
That sounds sort of like “my brother Vinnie” working as a straw man specifically to bid up the price.
I guess the answer to that is for buyers to simply stick by the price they are willing to pay and walk away otherwise.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.