We are actually not having too many appraisal issues. For me, without question it is two items. The first is home inspection issues. Buyers are asking for everything thinking the buyer can do whatever they want and still get the home. And sellers, are already taking massive hits and not interested in giving credits for minor issues. The second is constantly changing lending guidelines. Because Fannie Mae is buying most of the loans and auditing all the files, underwriters are being overly cautious and asking for back up documents to the back up documents. Sometimes the data just doesn;t exit. Also, on a brokered loan, we could be a day away from closing and than the investor on the loan can change their mind and say no, and it's all over. Definitely, a tough climate to do business right now.... more
They are sure trying to do that. The problem is they only have a limited number of compressed gas containers and there is a big hole they are losing steam through. Since the problem really remains just adding more hot air will not cure the real problems.
Come May when the $8k goes away and the federal reserve stops buying MBS just watch the inflation effect go away as that big hole allows all of the recent steam to escape.... more
My understanding is that the new MLS ruling is that you must disclose a short sale, however you must have the permission of the seller to disclose this otherwise confidential information. If the seller refuses then you must withdraw the listing. It seems unfair not to disclose, since some buyers will not want to go through the sometimes long process of buying a home that is a short sale. Also, there are some agents who do not wish to work with clients who are looking for this type of transaction, due to the extended time period and additonal work. The unbelievable number of short sales coming so new to the market allows for lots of misinformation to be floating around. It's hard to know just who has all the right answers. I tend to think it best to disclose and to encourage your seller to disclose...after all, he's not alone in this situation any more. Barbara... more
If the home is complete I would go to the house and stay there untill the train passes. I would listen to it with the windows closed and also with the windows open. There are some buyers who would love to live with in walking distance to the train and some who will not. Keep in mind that the 3 most important words in real estate are Location, Location, Location
Rates are going up, homes are still much too high in price, unemployment is much worse that reported and going to get much worse, inflation in gas and grocery prices are starting to soar and will hit high gear in early 2010.
Unless you know something I don't you best not jump into a dead market infested with so much competition.
Too many people own realty, want to sell realty, too few want to buy at these bubble asking prices, and there are more realtors than can be counted.... more
What goes up must come down. its funny how no one asked when is the market stop going up but everyone whats it to stop dropping down. the way I see it, it took 8 years of madness and prices where going up in large numbers. if we go back to history we'll see the the economic cycle is at a 7 year on an average so we've been going down for about 3 years so we have another 4 years to go.... more