Telling the Difference Between “Good” and “Bad” Real Estate Business Much has been made about today’s cautious, fussy Buyers. Not only do Sellers’ homes need to be updated and in pristine condition — they need to be tantalizingly priced, too. A lot less ink has been spilled about today’s fussy Realtors (including yours truly). Taking...Read More
Smoking Guns & Yellow Flags I think it’s fair to say that — as a rule — compared to “laymen,” Realtors put much less stock in things like Seller motivation; historical information like what the owner paid (unless it raises the prospect of a short sale); and even representations (or lack thereof) in the Seller’s Disclosure....Read More
“Preapproved Short Sale” (and Other White Lies) If your parents don’t have kids, you won’t either. What’s that line got to do with real estate? Put it this way: if your listing doesn’t get showings . . . it ain’t going to get offers (or a Buyer), either. In a nutshell, that seems to describe...Read More
A: When it’s a short sale You’d think that a Seller who received a full-price offer on their home would automatically say “yes,” and the Buyer and Seller would be well on their way to a consummated deal. And in most situations, you’d be correct. However, with a short sale — that is, a home...Read More
Why Aren’t More Banks Pursuing Deficiencies? It’s the housing market equivalent of “the dog that didn’t bark”: with hundreds of thousands of homeowners nationally on the hook for mortgage deficiencies in the wake of short sales and foreclosures, why aren’t more banks trying to collect? Anecdotally, there appear to relatively few such actions, leaving lawyers, Realtors, and...Read More
Pop Quiz Quick, test your knowledge of residential real estate law by answering the following question: What accounts for something like 90% of all litigation involving residential real estate today? A. Actions for “specific performance” — that is, a lawsuit where either the Buyer or Seller asks the court to compel the other party to consummate...Read More
