Big words – pure Bullshit. Here’s what one lawyer is peddeling in Southern Califirnia. “Here is some info that we send out to brokers. Our fundamental principal under which we work is the “educated supposition” that a preponderance of real estate loans having been originated by the banking industry in the last several years were,… CONTINUE
MARS Rules… Will they apply to brokers/agents?
Some say Yes, others say No. The fact is that they DO APPLY – for now. Is it likely that brokers/agents or even attorneys will be exempted? Not in my mind. The disclosures are intended to “protect” the public. When has the government EVER decided that the bother to the provider outweighs any potential consumer… CONTINUE
California Home Prices Take Another Hit
Not a surprise, really; but Standard & Poors states that CA home prices are DOWN another 2.5 – 5% (depending on specific sub-markets). The forecast: No real increases (even 1-3%?) until 2013.
Fraud is in the Air, Everywhere We Turn and Look and See…
Desperate Times, Lead People to Desperate Measures. Or so it seems. In the last few weeks, we’ve been contacted by three different brokerages who have been the subject of lawsuits against them because of – embezzlement. Embezzlement by agents working for the brokerages – taking client’s money! One case involved property management trust accounts, the… CONTINUE
Fun Fact Of The Day …
OK, Steve Frantz writes these, and I couldn’t resist. (Note the “t” in Fran”t”z.) I think they are going to become a regular feature… Because I love you all and am concerned for your health and well being, today’s fun fact is not only informational, but nutritional as well! I guess you’ve grown to expect… CONTINUE
Short Sale Approvals in 45 Days? Bologna!
RISMEDIA reported today (April 15, 2011) that a new bill to improve the process for approving short sales might soon bring relief to distressed homeowners who are unable to keep their homes and hope to avoid foreclosure. The bill, recently introduced in the U.S. House and strongly supported by the National Association of REALTORS®, would… CONTINUE
Holy Moly – The MERS Mess just got Messier!
April 11, 2011 … Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corp (FDIC), Office of Thrift Supervision (OTS) and Federal Housing Finance Agency (FHFA) all ganged up on Mortgage Electronic Registration System MERS. And I mean ganged up on it. A consent decree was issued this Tuesday telling MERS it had… CONTINUE
E & O Carriers are NOT your friend…
E&O Carriers…those folks to whom you pay hard earned dollars, “just in case.” What a crock. If there is any possible way to get out of defending a broker or agent, they’ll find it. And they are sneaky about it. Just this week, a broker was sued, named as one of nearly a dozen defendants… CONTINUE
Ups and Downs of Home Prices…
The Wall Street Journal recently reported that the oprices of houses are Up, and Down. Depending on where. Seems like everyone jusst wants to ad their own shpin on a story that has no right, wrong, left or middle. “With the National Association of Realtors reporting that home prices rose in about half of U.S…. CONTINUE
NorCal Realtor Expo was Apr 6 — 1,100 attended
…and were made privy to the offerings of 2 dozen or so vendors (like HLF). What I found encouraging is that – even in the face of one of the most difficult markets in my career life (35 years — how did that happen?) – the level of enthusiasm remained high. Sure, we’re all working… CONTINUE
B of A is Looking for a Few Good Men (and Women)
Here’s the link to register for listings from BofA. Who knows… https://realestateagent.bankofamerica.com/baapp.aspx
A Fond Farewell to Fannie and Freddie?
My friends at first tuesday nailed this one: The current administration proposes that Fannie Mae and Freddie Mac be gradually dissolved within ten years by one of three methods: 1.Government-guaranteed mortgages will be available only to finance home purchases by low- and moderate-income families, a task to remain the duty of a much-downsized Federal Housing… CONTINUE
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