I was not referring to actually buying homes on ebay, I have been trying to buy a house now for 2 months and that is what the market has become, ebay. The banks sit on the home and wait for multiple offers, then counter, then you counter, then they counter, all the while competing with everyone else for the house. Ebay would actually be better, at least you know where you stand right away. Before this market, when people actually owned the houses, you just bartered with them, if you could not reach a deal you move on. Now the REO listing agents wont even submit your offers until there are multiple offers and they artificially inflate the price by telling everyone that calls them what the current offers are so you have to bid higher if you want the house. The market has become an auction, you cannot simply find a home you like, offer the asking price and negotiate with the seller and reach a deal. The asking prices are not really the asking prices but rather the starting bid in an auction. It is ridiculous. - Sat Jul 5 2008, 18:11
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