Year: 2013
Effects of Higher Rates
Hat tip to daytrip for sending in this article from money.cnn.com. An excerpt: San Diego real estate agent Jesse Zagorsky said one of his clients put in an offer on a home last Friday for $650,000, nearly $35,000 more than the home's listing price. Over the weekend,...
RSF Village REO
This is a sleeper. It's low maintenance for a Covenant property, it is right in the village, and it doesn't need anything but a dishwasher and BBQ. The street name scares people off, but the noise level is less than expected:
Cutting Appraisal Costs
From bloomberg.com: http://www.bloomberg.com/news/2013-06-27/bank-of-america-said-to-send-property-reviews-to-india.html Bank of America Corp. opened a unit in India to review home-valuation reports as it seeks to rebuild share in U.S. mortgages at a lower cost, said...
More on Pockets
The state association of realtors (C.A.R.) attempts to address the pocket-listing issue in its latest edition of California Real Estate magazine: http://www.onlinedigitalpubs.com/publication/?i=163273 They describe how agents think that pocket listings are OK, as long...
Transparent Bidding
Most listing agents avoid buyer-agent calls and just pick a winner out of whatever offers trickls in. My method is like a slow-motion auction with buyers knowing what the other bids are, and making it easy for them to pay top dollar:
New Radicals
A mostly-obscure band out of Los Angeles from the late-1990s: http://en.wikipedia.org/wiki/New_Radicals
The Effect of Higher Rates
Talking heads discussing the impact of higher rates - one being more ARMs: The guest commentator said that we will lose 20% of the buyers if rates go over 5%, which sounded like a guess. We don't have to lose any buyers if they were just willing to look at smaller...
Hot As Before
It's incredible to see how far we have come. While there are still plenty of buyers waiting for more inventory/lower prices/lower rates, this month's sales and pricing combination will rival those at the previous peak. Let's estimate this month's sales and pricing....
Foreclosure Counts
Hat tip to Ken for sending in this article from Forbes: http://www.forbes.com/sites/morganbrennan/2013/06/24/3-reasons-the-bubble-like-surge-in-home-prices-wont-last/ An excerpt that suggests one reason why prices are going up: In some cases banks are choosing to hold...
