{"id":24904,"date":"2009-09-03T08:27:27","date_gmt":"2009-09-03T08:27:27","guid":{"rendered":"http:\/\/forestridgevoice.com\/2009\/09\/03\/forest-ridge-homes-lose-value-with-some-short-sales\/"},"modified":"2019-04-23T20:55:45","modified_gmt":"2019-04-23T20:55:45","slug":"forest-ridge-homes-lose-value-with-some-short-sales","status":"publish","type":"post","link":"https:\/\/ewmrealestate.com\/blog\/forest-ridge-homes-lose-value-with-some-short-sales\/","title":{"rendered":"Forest Ridge Homes Lose Value With Some Short Sales"},"content":{"rendered":"

\"Money\"A\u00a0Real Estate Company\u00a0has listed a property 3 bedroom, 2 bath home in Forest Ridge at a\u00a0very low price\u00a0 of $210,000.\u00a0\u00a0 The home is located \u00a0in Oak Park on Greenbriar Court\u00a0 and it is a SHORT SALE.\u00a0 A short sale is typically\u00a0 not the most attractive way to purchase a home because it takes months to know whether or not the bank will accept your offer.\u00a0 Once the bank receives an offer they will order\u00a0a BPO’s (BROKER PRICE OPINION) .\u00a0\u00a0This is similar to an appraisal but it is performed by a real estate agent, chosen by the bank . Real estate agents who perform BPO’s sometimes leave it in the hands of their assistants and most of the time the real estate agents and their assistants\u00a0are not familiar with the neighborhood.\u00a0They are selected based on other criteria which has nothing to do with knowledge of the community.<\/p>\n

\u00a0If the\u00a0 Bank feels the price being offered by the buyer is too low they will either counter the\u00a0 offer or go to the next one.\u00a0 If the seller only signs one offer to submit to the bank\u00a0 there is little for the bank to do other than make the counteroffer or reject the offer all together.\u00a0 Then the process starts all over again.<\/p>\n

I am not sure what the motivation is on the behalf of the company who listed the property, but if they would have would have checked the comparable sales, or would have called some of the neighborhood expert Realtors, they would find that listing a 3 bdrm., 2 bath home with over 1700 sq. ft. of living space for $210,000 is not comparable to\u00a0 similar homes in Forest Ridge.<\/p>\n

There is no apparent reason why this home has to be listed so low, other than to bring\u00a0 multiple buyers to the table and hopefully bring the sales price up quickly to a more reasonable selling price.\u00a0 Let’s hope that this is the\u00a0case here, and that the list price is just a “starting point” at which offers will begin.<\/p>\n","protected":false},"excerpt":{"rendered":"

A\u00a0Real Estate Company\u00a0has listed a property 3 bedroom, 2 bath home in Forest Ridge at a\u00a0very low price\u00a0 of $210,000.\u00a0\u00a0 The home is located \u00a0in Oak Park on Greenbriar Court\u00a0 and it is a SHORT SALE.\u00a0 A short sale is typically\u00a0 not the most attractive way to purchase a home because it takes months to<\/p>\n

Read More<\/a><\/p>\n","protected":false},"author":5759,"featured_media":130092,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_expiration-date-status":"","_expiration-date":0,"_expiration-date-type":"","_expiration-date-categories":[],"_expiration-date-options":[]},"categories":[11767],"tags":[],"yoast_head":"\nForest Ridge Homes Lose Value With Some Short Sales - BHHS EWM Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ewmrealestate.com\/blog\/forest-ridge-homes-lose-value-with-some-short-sales\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Forest Ridge Homes Lose Value With Some Short Sales - BHHS EWM Realty\" \/>\n<meta property=\"og:description\" content=\"A\u00a0Real Estate Company\u00a0has listed a property 3 bedroom, 2 bath home in Forest Ridge at a\u00a0very low price\u00a0 of $210,000.\u00a0\u00a0 The home is located \u00a0in Oak Park on Greenbriar Court\u00a0 and it is a SHORT SALE.\u00a0 A short sale is typically\u00a0 not the most attractive way to purchase a home because it takes months toRead More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ewmrealestate.com\/blog\/forest-ridge-homes-lose-value-with-some-short-sales\/\" \/>\n<meta property=\"og:site_name\" content=\"BHHS EWM Realty\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/EWMRealtyInternational\" \/>\n<meta property=\"article:published_time\" content=\"2009-09-03T08:27:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-04-23T20:55:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ewmrealestate.com\/blog\/wp-content\/uploads\/2019\/06\/BHHS-On-Solid-Background.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"376\" \/>\n\t<meta property=\"og:image:height\" content=\"376\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"pattireid\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"pattireid\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ewmrealestate.com\/blog\/forest-ridge-homes-lose-value-with-some-short-sales\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ewmrealestate.com\/blog\/forest-ridge-homes-lose-value-with-some-short-sales\/\"},\"author\":{\"name\":\"pattireid\",\"@id\":\"https:\/\/ewmrealestate.com\/blog\/#\/schema\/person\/3884199c9616c95232f0602dd52df5eb\"},\"headline\":\"Forest Ridge Homes Lose Value With Some Short Sales\",\"datePublished\":\"2009-09-03T08:27:27+00:00\",\"dateModified\":\"2019-04-23T20:55:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ewmrealestate.com\/blog\/forest-ridge-homes-lose-value-with-some-short-sales\/\"},\"wordCount\":346,\"publisher\":{\"@id\":\"https:\/\/ewmrealestate.com\/blog\/#organization\"},\"articleSection\":[\"EWM News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ewmrealestate.com\/blog\/forest-ridge-homes-lose-value-with-some-short-sales\/\",\"url\":\"https:\/\/ewmrealestate.com\/blog\/forest-ridge-homes-lose-value-with-some-short-sales\/\",\"name\":\"Forest Ridge Homes Lose Value With Some Short Sales - 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