This is a difficult subject. Rather than get into the ethical arguments, of which there are many, I want to get the principal across that is most important: Although sellers are required to provide a property disclosure statement, it does not absolve buyers from the responsibility they have to themselves e.g., if you are injured in an auto accident, and …
Appraisal Problems…..
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. …
Rhodes: What Commission For Agent Covers
There are many real estate issues with which we have disagreed with Elizabeth Rhodes of the Seattle Times. However, we genuinely have to thank her for accurately, and considerately, explaining commission structures. See her article here. Further, Ms. Rhodes is to be commended for the thoughtfulness that guided her to use the insightful remarks of the President of the Washington …
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 …
Sunday Seattle Times Cover Story May 20, 2007
Elizabeth Rhodes seems to relish the exposure whether her articles are news worthy or not. Imagine, the little real estate reporter gets the front page of the Seattle Times……..on Sunday! Well let’s take a close look at that article: 1. The young couple trying to sell their Redmond Ridge home for the last 2 weeks….yes, you heard right, a whole two …
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 …
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 …