Sep 4, 2010

Jim the Realtor, the Courthouse Steps, and Insanity

Good ol' public trustee auction house bidding action at the courthouse steps courtesy of Jim the Realtor. Despite watching the back and forth bidding action driving the final sales price of this property up, the intriguing point to note here is Jim the Realtor's following acknowledgement [actual YouTube posting by Jim the Realtor]:
"I submitted an offer of $600,000 on this house on July 1st when it was listed as a short sale for $649,000. The sellers didn't respond, but I think the bank would have wanted to know about it."
Keep in mind this home sold at the courthouse steps for $540k, despite Jim the Realtor having offered $600k when the home was originally listed as a short sale. As if we needed any more examples of how flawed the short sale process is. In most instances, loan modification workouts have been as pathetically unsuccessful as well.

Awfully hard to operate under utter incompetence.

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