The Seatttle Times Friday the 13th Real Estate section Q & A by Elizabeth Rhodes sites a low appraisal problem on a condo sale. While the explanations offered are fairly brain dead with respect to what actually happens in such a situation, it inspired me to write about 2 recent transactions wherein the appraisals played pivotal roles unlike that which …
About the MS Rumour Regarding MLS Re-list Rule July 22
It has been a long-running problem that agents cancel and re-list properties merely for the sake of generating renewed interest for listings that are not getting any activity. It is also a means by which agents attempt to fool shoppers into believing a listing is actually new instead of 120 days old. This creates a number of problems and workload …
Buyers Getting a Leg Up?
In the Seattle Times 7/7/07 Saturday Business section, an article describes a slower market, and how it is helping buyers. We have predicted for some time that conditions were ripe for increased inventory and slower sales. However, we also believe that this condition will give way to increasing sales activity as the year ends, and will be stronger in 2008. …
Prices Up and Market Slowing?…Explanation
I was looking in the Sunday Times for something to write about this week. Nothing much of interest. Rhodes wrote about finding a good agent: ask for referrals, credentials, interview 3 that are experts in your area of interest, pick one. Not complicated. Looking for something interesting to discuss in the Times archives, I came across an article from June …
Bank of America Plans to “Buy” Market Share…..
The 5/13/07 Sunday Times Real Estate Section features an article by Ken Harney that is worth reading. It concerns Bank of America’s stated committment to no fee home purchase mortgages. The article notes that there are skeptics. Our personal experience is that Bank of America provides excellent service at the branch level on items such as home equity lines of …
Home Inspectors: They Can Help Or Hurt Your Transaction
I’ve been thinking about this for quite awhile, but have hesitated to write. Human nature dictates that we try to forget negative experiences as quickly as possible. But today I am re-inspired to share my knowledge to try and address this often abused aspect of today’s purchase and sale agreements. There are multiple aspects to consider. When you accept an …
How Do You Know If You’re Getting a Fair Deal On Your Loan?
In the face of serious nationwide concern regarding lender practices I have yet to see one of the best resources available to borrowers: your real estate agent. Why? Agents don’t loans. No, but they know good people that do. All quality lenders rely on real estate agents for referral business. Good agents are very careful about whom they refer their …
House Hunting Tips
Sorry I’ve been off track for awhile. Blogging is enjoyable, but only when I have the spare time. I noticed the house hunting tips article in the Seattle Times this weekend. There wasn’t much in the way of actual tips, but it was a good piece on learning to compromise. The odd part of these two buyers’ stories is that …
Foreclosures . . . Buyers Beware
This is my response to Elizabeth Rhodes article in the Sunday, March 4th, 2007 edition of the Seattle Times. Prior to becoming a licensed real estate agent I worked for Bellevue attorney who represented two large lenders processing all of their foreclosures. Something I learned from this experience was that there is a legal way to rob a bank. First, mortgage …
Seattle Times 02/25/07 Article: Redfin Revolution
Elizabeth Rhodes went way over the top with this article about Seattle based Redfin Real Estate. It’s not that reporting about such a company isn’t important. It is the unbridled optimism with little analysis from a business model perspective that is missing. Let me explain: 1. Redfin started as a pure internet interface without a phone number when it began. The result …