Comments on: Buyer Representation

By: 3clicks from da beach

3clicks from da beach — Sun, 05 Jul 2009 05:53:10 +0000

You mean the banks will perform due diligence?

By: Mike C

Mike C — Sun, 05 Jul 2009 00:48:53 +0000

When the banks evaluate the short sale offer, don’t you think they are going to look at things like days on market (1 day) and then at least pull a computer appraisal to see if the price is even in the ballpark??

By: Mike C

Mike C — Sun, 05 Jul 2009 00:47:59 +0000

When the banks evaluate the short sale offer, don’t you think they are going to look at things like days on market (

By: Jim the Realtor

Jim the Realtor — Sat, 04 Jul 2009 13:18:39 +0000

I agree Ice, the CAR and NAR could have taken the lead to help create a future for realtors, but instead they perpetuate cheerleading.

By: ice weasel

ice weasel — Sat, 04 Jul 2009 12:34:21 +0000

Another reason why the future of the job, “Used Home Salesperson” is going away in the main. Sure, there will be some specialists and some niche operators but for the most part, buying or selling a home in a Redfin environment is no less “safe” than doing so with the vas majority of Realtors (TM) out there.

No slap against Jim but you’re the exception, not the rule.

It’s like the old saw about attorneys. “The only person who wins in court every time are the lawyers.” Same thing for realtors and I think people are going to realize that they’re better pocketing the difference and casting their fates to the wind (and/or using an attorney).

And in the end, it’s CAR and NAR who bear most of the responsibility. They tacitly support this activity and been disingenuous marketing their business for years.

By: murf2222

murf2222 — Sat, 04 Jul 2009 05:12:47 +0000

Been trying to snag one of these REO/short sales for 6 months now. Time and again we have witnessed these scumbag-realtor shenanigans……. The listing goes *pending* as soon as it hits the MLS.

It is a rampant problem that is known to EVERYONE in the real estate industry (San Diego anyway).

Why the Fu!%@ hasn’t the NAR stopped this criminal crap?

Murf2222

By: BottomFisher

BottomFisher — Sat, 04 Jul 2009 04:52:57 +0000

Jerry Brown for Governator………oh…..he already was….and how! I actually bought my first house at a Caltrans auction of homes Orange County in Fountain Valley in 1976. Some of the homes that were bought up by Caltrans in preparation for a new planned freeway going from the 405 to the beach to relieve the growing traffic on the major streets to the beaches. But Brown put a stop this and many other freeways. He decided that he will make people use mass transit instead and slow the growth of people moving to Ca. What an air head. So they auctioned all the houses that they had purchased and killed all new freeway plans. Now of course, the freeways are still so badly needed, but now the cost has skyrocketed out of sight and on top of that, the state is broke. And this clown wants to be governator again? Sick. I would rather have Ahmadinejad for Governator.

By: tj and the bear

tj and the bear — Sat, 04 Jul 2009 03:12:10 +0000

There’s always the chance that the buyer and seller are both “acquaintances”. The seller gets out on a short sale, the buyer gets a steal of a deal, and the agent gets the full 6%. Oh, and perhaps the buyer kicks back a few bucks under the table to the seller.

Smells to high heaven.

By: Susie

Susie — Sat, 04 Jul 2009 01:17:07 +0000

From the LA Times: “Complaints Erupt About Lowball Home Evaluations”

“Reporting from Washington — It’s by far the hottest controversy in real estate this summer, and it could directly affect the value of your house — probably negatively — by tens of thousands of dollars.

The issue concerns lowball valuations and the new rules guiding appraisers in both price-depressed and rebounding markets. Consider these snapshots of what’s going on:
* In San Diego, Steve Doyle, division president for Brookfield Homes, is trying to close out the final 20 houses of a 120-unit single-family subdivision. Prices range from $340,000 to $350,000. But recently there’s been a major hitch: Appraisers assigned by banks are coming in with valuations $60,000 or more below Doyle’s selling prices. The appraisers, who Doyle says are unfamiliar with local market trends, inexperienced or both, are using distressed sales — foreclosures and short sales for less than the amount owed on the mortgage — as their “comparables.” Some of the distressed properties are in poor condition, and all of them offer fewer amenities, Doyle said.”
Full article:
http://www.latimes.com/classified/realestate/news/la-fi-harney5-2009jul05,0,5375301.story

By: Big Fan of JTR

Big Fan of JTR — Fri, 03 Jul 2009 23:56:25 +0000

Jim,
Thanks for going against the flow and telling it like it is. I hope that your business thrives. We tax payers will suffer in the end. The banks have staffed themselves with people who are barely scraping by so; hence they don’t care whether the deal stinks or not and just rubber stamp it.
-Big Fan