I had another case where the sellers had inherited the property, and their realtor thought they would be exempt from having to disclose. But all the law states is that they don't have to use our form: Under California Law, whether or not a seller is exempt from...
New listings, new pendings, and more showings are happening everywhere. Regardless of what you think about it, there are people who are proceeding with their plans to buy and sell homes. The industry is cautious, and you see it in the showing instructions. I haven't...
We noted last week how the jumbo mortgage market is back-pedaling in two ways. Banks stopped funding jumbo loans with 10% down payments, and the program that qualified the self-employed borrowers by using their last 24 monthly bank statements was also terminated. The...
Wells Fargo is 'suspending' their jumbo-loan funding of all correspondents today, and the others (like Chase) are sure to follow. It's one thing to stop funding loans for mortgage brokers, but to shut down the credit lines to the big players like Loan Depot, Quicken,...
One of the most insane MLS rules prevents agents from including videos in the remarks. The MLS police is afraid that agents will slip in their contact information, and buyers will rush to purchase direct from the listing agent - but they can do that anyway. How hard...
You better be an all-around expert at fixing stuff in this environment - and be able to present a reasonable case to the buyers that's easy to digest. We're not out of the woods yet, but this video kept a situation from turning into a problem:
The California Association of Realtors published their coronavirus addendum/amendment today. Those with an existing contract aren't obligated to sign it, but they mentioned the 'Force Majeure Clause', which is a common clause in contracts that essentially frees both...
Glad to see the NAR promoting this point - considering what other agents think of you: David Weldon empathized with his client’s growing desperation to sell her home, a three-bedroom house in Southern California’s Riverside County. But he was uncomfortable about her...
There isn't a central website for viewing videos of local real estate for sale, so let's do it here. This home has been on the market for a while, but the price is now down to $9,395,000: If you're an agent who wants extra exposure for your listings, send me your...
When we joined Compass in the summer of 2018, it was clear that the evolution of residential resales was trending towards off-market sales. I said then, "we have to make sure that we're on the right team". The National Association of Realtors tried to affect the...
