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Pricing a Short Sale

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AlohaCathy
 Post subject: Pricing a Short Sale
 Post Posted: Tue Aug 28, 2007 12:12 pm 
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Joined: Thu Jul 19, 2007 12:14 pm
Posts: 3
Location: Honolulu, Hawaii
Aloha from Honolulu, Hawaii!

Our short sale classes consistenly advise us to take 10% off the last sold comp to price a property for short sale. Does that apply to areas such as Hawaii where the median home price is in the mid 600s?

Mahalo!
Cathy Hotta
Keller Williams Realty Maui
808.271.9271
cathyhotta@hawaii.rr.com
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dgrieb
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 Post Posted: Thu Sep 06, 2007 3:59 am 
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great question the answer is Yes. Remember the lender standards do not change. As long as the price they get nets then 90% of the BPO we are fine.

If your market is adjusting faster you may have to adjust the fast if your market is adjusting slowed then you react slower.

I wish you the best.

Dan
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