He thought I should put an offer in 3% over list, but I declined to do that.

My business was providing hips...www.hipnotik.co.uk. websites still active but wound up the company. because HIPS are only needed when a house goes on the market then my business declined rapidly after the first 6 months of their introduction until i was forced to close it down. estate agents, mortgage lenders, hips companies conveyancers are all either being bought out by huge corps or are forced to shut down because of the state of the market.

. $40 k off can certainly kill a deal.Here is example of what information I obtain and how I determine ARV.Zillow $120,000Free Realquest $130,000Cyberhomes $200,000TAV $115,000 (last sale 2007 in declining market)Seller says other houses in neighborhood similar to his are going for $110,000 - $140,000.My ARV?

On the other hand, they will lose a lot of money if the market continues to decline or stays flat.Mike

Will all this turmoil lead to more declines and eventually Anarchy??

Prices have declined in general all over and I'm assuming your asset manager obtained a BPO prior to setting the list at $68.9.

It shows prices in your area peaked in August 2007 and have declined 9% since then.

In markets like Manhattan and Brooklyn for example, this does not work nor does it work in any of the (non-declining) major cities I canvas.Thanks for your reply…as I am getting more firm in my decision to walk away.

Hi Jeff,We have noticed a decline in the amount of bank owned props coming on the market (low end, anyway).

Tim,Not to mention that the county assessor are way behind their reassessing of the lower purchase price that I’d paid for and the decline in nowadays property values (prop. 8); they’re still assessing me base on the previous purchased values, thus overcharging me $1500 in total; escrow was closed on 1/25/08 for one of them; they’d already overtax me back then without seeing any refund that they’d told me which I should have been received it months ago.Paul