Why expensive housing prices aren’t good for most real estate agents 

[carolina73]

That type of financing is common.
It's most often referred to as a Bridge Loan... been in use since the 70s that I am aware.

I remember the Bridge Loans but not as they currently are used with a loan amount of up to 80% of the value of the 2 homes combined. I remember the bridge loans as being more to give you the short term breathing room to pay two loans.

[carolina73]

But as far as real estate agents go, I have bought and sold over a dozen homes or condos but I always approached a agent by reputation and never called a company and asked to be assigned a broker.
I dealt with a seller who had a rookie and it was not smooth and she always had something new and sometimes I think it was her office pushing her to try to get things they themselves would not.

[Collateral Damage]

I remember the Bridge Loans but not as they currently are used with a loan amount of up to 80% of the value of the 2 homes combined. I remember the bridge loans as being more to give you the short term breathing room to pay two loans.

When we moved down here, we hadn't yet sold our house in PA. Our bank where our mortgage was, suggested the bridge loan, which was exactly that - gave us the cash to close on the TN house, until the PA house sold. It was marked as a second interest on the PA house, so it was automatically paid off when it sold.

[Collateral Damage]

But as far as real estate agents go, I have bought and sold over a dozen homes or condos but I always approached a agent by reputation and never called a company and asked to be assigned a broker.
I dealt with a seller who had a rookie and it was not smooth and she always had something new and sometimes I think it was her office pushing her to try to get things they themselves would not.

We've bought/sold around 8 houses/properties. Had a mess of problems with the agent when selling the PA house(he was arrested on his 3rd DUI shortly thereafter, so we found out) but the TN agent has always been a peach to deal with. If you can get past her for real Southern accent and terminology (well butter my butt and call me a biscuit!) she is hard driving and working.

[Thom Paine]

I remember the Bridge Loans but not as they currently are used with a loan amount of up to 80% of the value of the 2 homes combined. I remember the bridge loans as being more to give you the short term breathing room to pay two loans.

The current loan situation can/does work similarly with the payment structure of the loan..

Loan/Payment structures have more modifications than a Hollywood plastic surgeon.

The simplest forms are promoted to sell money.

[Peter1469]

That type of financing is common.
It's most often referred to as a Bridge Loan... been in use since the 70s that I am aware.

Well I have only bought once in my life. The next time I will have to sell this one, then I will see how it works.

[Thom Paine]

Well I have only bought once in my life. The next time I will have to sell this one, then I will see how it works.

With a background of real estate acquisition, disposition, and general construction, professionally, I don't recommend it or anything similar with too many possible influences outside one's control, easily, it can turn a relatively positive "sure" transaction into a "crap shoot".

If one cannot reasonably afford or withstand a possible loss in a transaction, one should not do it.

[Peter1469]

With a background of real estate acquisition, disposition, and general construction, professionally, I don't recommend it or anything similar with too many possible influences outside one's control, easily, it can turn a relatively positive "sure" transaction into a "crap shoot".

If one cannot reasonably afford or withstand a possible loss in a transaction, one should not do it.

Yes, I am sure there is high risk in such transactions.

[FindersKeepers]

With a background of real estate acquisition, disposition, and general construction, professionally, I don't recommend it or anything similar with too many possible influences outside one's control, easily, it can turn a relatively positive "sure" transaction into a "crap shoot".

If one cannot reasonably afford or withstand a possible loss in a transaction, one should not do it.

We're seeing more of these "cash" loans. They're non-conventional, and I really don't know whether they qualify for sale to the secondary mortgage market.

But, it allows the homebuyer to bid on the same footing against traditional cash buyers. I had one buyer (successfully) bid against me on a house I planned to flip. He bid more than I would have, but I was looking to turn a profit. I think he just wanted to live in it.

None of the lenders I deal directly with are making those types of cash loans, but I think Quicken makes them. I'm guessing--just a guess--they're fairly high interest.