Miranda Warning — Real Estate Version As required by the Miranda warning, police making an arrest must tell the person in custody, prior to interrogation, that they have the right to remain silent, and that anything they say will be used against them in court. Minus the explicit warning (and the courtroom), the same thing applies in...Read More
Spying on the Buyer, or “Electronic Chaperones?” Every breath you take Every move you make Every vase you break* Every step you take I’ll be watching you –Sting; lyrics, “Every Breath You Take” Frankly, I’m surprised that it took until late 2011 to hear about it: a (creeped-out) colleague reporting that the home she just showed...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
Alternative Theory: Weighed Down by Debt One of the most overlooked factors driving the housing market is the rate of household formation. When people graduate from renting apartments to buying homes, get married and start families, etc., housing demand strengthens; when the number of households contract — as happens in recessions — housing demand weakens....Read More
Lack of Buyer Urgency I was taking advantage of a welcome — and too brief — lull in my schedule the other day to cull the accumulated detritus on my desk (and on my office floor, and chairs, and . . .), and saw the following postcard: ‘Hurry! These Rates Won’t Last!” The date? October,...Read More
Done Deal! Then What? It’s 9 p.m., and you’ve just agreed to terms with the Seller you’ve been negotiating with to buy their home. You initialled the last change on the Counter Offer form, and faxed it to your Realtor. Who do you call/tell first? A. Your parents, to tell them the good news! B....Read More
