Realtor “Loss Leaders” First of all, how can professionals who are paid via commission have such a thing as “non-billable hours?” Don’t you have to be a lawyer (I was), CPA (ditto, a long time ago), financial advisor, etc. for that to apply? Technically, yes. But what I mean by “non-billable hours” for Realtors is...Read More
Three (and one half) Theories One of the more confounding things about today’s — shall we say — “unusual” housing market is the conspicuous absence of what Realtors used to call the “sweat equity” Buyer. In no particular order, here are the three explanations I hear most often — and find most credible. One. Soft...Read More
Actually, the following joke is obsolete: I can tell you exactly where interest rates are going, because Ben Bernanke told me (and everyone else): zero, for a long time. So, just substitute “stocks” for “interest rates.” Enjoy . . . Einstein dies and goes to heaven only to be informed that his room is not yet...Read More
Safety in Numbers? If you owe the bank $100, that’s your problem. If you owe the bank $100 million, that’s the bank’s problem. –John Paul Getty If a small investor gets ripped off by Wall Street, they’re SOL. But if a whole lot of investors get ripped off by Wall Street, there’s at least the...Read More
Paid-Off House as Piggy Bank To the already long list of unintended consequences of zero percent interest rates (“ZIRP”) — squeezed savers, flush investment banks (and bankers), volatile commodity prices, etc., etc. — add one more: lack of (home) Seller motivation, especially amongst long-time owners with little or no debt. Why the lack of motivation? Because they...Read More
“Dear Seller: About That Restrictive Showing Time Window . . “ Sellers won’t like to hear this, but there’s a double standard when it comes to accommodating showing requests. Namely, if a legitimate Buyer can only see your home after 7 p.m. in the evening — you try to accommodate them. However, as a Seller,...Read More
