Regular readers know that I don’t make market predictions — stocks or housing. However . . . given the carnage last week on Wall Street, you’d certainly except a “respite rally” sometime soon (also called a “bounce” — or, depending on the overall environment and what happens next, a “dead cat bounce”). In the meantime,...Read More
Great Client Service — For a Non-Client! How does a lender generate goodwill (and future referrals) with a Realtor? (this Realtor). By quickly getting back to them with the answer to an obscure question on FHA loan processing fees. On a Saturday night. On a loan they’re not even handling! Thanks, Keith! (That would be...Read More
The malady? Lack of Buyer urgency — especially amongst the folks coming through weekend open houses (assuming that they really are Buyers). The cure? There’s only one (at least that I know): other, serious Buyer interest in a particular home. Which in turn is a function of the home’s price, condition, and — yup! — good...Read More
Corollary: “Would Your Client Accept $X for Their Home?” I don’t know about other agents, but lately I’ve been seeing an evolution in showing feedback questions regarding price opinions. The forms used to ask whether the Buyer thought the home was priced at market, and if not, what price they thought was right. Now, I’m receiving forms (and emails...Read More
Avoiding Appraisal Minefields We may be small, but we’re slow. –Cal Tech football team slogan Once upon a time, when the credit spigots were wide open, Buyers’ financing didn’t much matter to Sellers: at closing, they received cash. Period. Today? With fewer, strong Buyers out there, tighter credit, and more appraisal minefields to navigate, there is...Read More
