No It's Not Okay For One Agent to Represent More Than One Buyer in a Menlo Park Short Sale

This is so inherently unethical I can not believe I am actually writing a blog about this, but a buyer asked me this question today and apparently it is happening. 

I have a short sale listing in Menlo Park and offers are due by the end of the day on Tues.  At thus point I have 2. It is in Belle Haven,  a popular area for investors and is close to the the new Facebook Headquarters so the appreciation prospects are good.

Today I got a call from an investor who asked if I would represent him. I told him I do not double end deals as a general rule, and never do it in a multiple offer situation. I gave him the name of an associate who could help him.  He then asked if this person would be representing multiple buyers. I was shocked. If being a dual agent does not seem right to me, representing multiple buyers is beyond all sense of ethical behavior. The investor told me he has bought and sold many homes and this practice has been coming up recently.

All I can say is not on one of my listings, no way, no how.

If you have any questions about buying or selling short sales in San Mateo or Santa Clara Counties please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

D.R.E. 01191194

Menlo Park Short Sale Approval Today!!!!!

Well, it has taken a lot of months, and 4 buyers, but I finally got approval today from Chase for a short sale in the Belle Haven neighborhood of Menlo Park.  So far everyone is delighted, and hopefully we will make it through the loan and property contingencies. 

Short sales are sold "As-Is", period. Banks do not allow any credits, repairs, or other consessions for things that are wrong.  That is why I try to get inspections on all my short sale listings before they go on the market. That way there are fewer surprises at the end.

Nothing is a done deal until it is done, but we have come a long way, and my record is still 100% on getting an approval, and hopefully will stay at 100% on closing.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

D.R.E.  01191194

Federal Government Disclaimer (MARS):
1. You may stop doing business with us at any time. You may accept or reject the offer of mortgage assistance we obtain from your lender [or servicer]. If you reject the offer, you do not have to pay us. If you accept the offer, you will have to pay us commission as agreed to in listing contract for our services.
2. Marcy Moyer of Keller Williams Realty is not associated with the government, and our service is not approved by the government or your lender; and
3. Even if you accept this offer and use our service, your lender may not agree to change your loan.

Marcy Moyer Keller Williams Realty Palo Alto, Ca. Specialist in Trust and Probate Sales

Menlo Park Ca Distressed Property Update 12 /3 / 10

Menlo Park, Ca. Distressed Property Update

Are you waiting for a distressed property for sale in Menlo Park so you can snatch a bargain, or are just curious about them? Well, there are a few of these types of sales, but not many. Short sales, as in other places, are more common than foreclosures. Most banks are at least giving homeowners the option to try to do a loan modification or short sale before foreclosing. These options do not always work, but they are worth a try.

Active Short Sale Listings:  8 

Pending short sale listings:  14

They break down neighborhood wise into:

west MP: 1

Central MP: 1

East of El Camino and west of 101: 5

Avenues: 2

Belle Haven: 14

Closed Short Sales since Jan 1, 2010:  17

West MP: 2

Central MP: 0

East of El Camino/West of 101: 1

Avenues: 3

Belle Haven: 11

Foreclosures:

Active listings:  6

Pending:   5

Breakdown by neighborhood:

West Menlo Park: 0

Central: 2

East of El Camino/West of 101: 2

Avenues: 3

Belle Haven: 3

Closed since 1/1/10:  19

Breakdown by neighborhood:

West Menlo Park: 0

Central:0

East of El Camino/West of 101: 2

Avenues: 2

Belle Haven:15

There have been 369 sales of homes and condos in Menlo Park  since Jan 1, 2010 so the percentage of distressed home sales is not enough to have much influence on the market yet, except in Belle Haven.

However, I think that there more may be coming in the next few years.  If you need to sell and owe more than your home is worth I would be happy to have a confidential discussion with you about your options. I am an experienced short sale realtor.  If you are interested in purchasing a short sale or reo property I would be happy to speak with you about what you need to do to successfully purchase one.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

Marcy Moyer Keller Williams Realty Palo Alto, Ca. Specialist in Trust and Probate Sales