California always was a little eclectic, but they have cornered the market on firsts - first in the nation with the most fuel-efficient cars, first in the nation with 2 Hollywood-actors-turned-Governors, and now first in the nation to have a homeowner sue their realtor because their home has lost value in the nationwide real estate downturn.
Yep, you heard right - a husband and wife are suing their realtor over the $1.2M San Diego home they purchase last year. They claim the realtor did not disclose to them that homes in the neighborhood were selling for less money.
Hmmm...at first glance, you may be agreeing with their suit. I was intrigued to say the least. After watching the story and the interview on the MSNBC.com, my lasting impression of the suit was laughable. I suddenly remembered George Bush's rallying cry for tort reform in '04 and wished he had follow through.
Obviously, my career as a realtor means I have a vested interest in the outcome of this case. But where has personal responsibility gone?? Did not the Buyers have an obligation to do their Due Diligence with the purchase. My Latin is rusty, but "Caveat Emptor" comes to mind - "Let the Buyer beware."
Unless the Realtor intentionally hid something from the buyers, there can be no fraud. The buyers, of their own free will, sat at the closing table and signed documents purchasing the home at $1.2M. Ignorance must be bliss...
Don't go by what I say...you be the judge...and let me know if I'm crazy!
Monday, January 28, 2008
Tuesday, January 22, 2008
WOW...what a week, huh?
Who thought the Fed would have an emergency meeting?
Who thought the Fed would cut the rates 3/4 of a point, which is the LARGEST CUT IN 27 YEARS?
Who thought the housing market would begin to bounce back so soon?
Did I just say that? I DID!!!
Now, let me preface that comment that I am referencing my tiny corner of the Tampa Bay Real Estate market. I have seen a tremendous increase in buyer activity, which has led me to ink 3 contracts w/i the last 14 days! My sellers are happy, my buyers are looking...all is getting right in that sector.
Let's put it in perspective - don't go planting that sign in your yard and expecting Buyers to beat a path to the closing table. I have insisted that my Sellers price their properties correctly so that when Buyers do present themselves, the properties are positioned to solicit an offer. I can advertise a home in every major media publication in the 48 states, but if it's not priced where a Buyer sees value compared to the myriad properties out there, it's a dead listing.
I can't tell you the number of listings i have walked away from. Since I make a monetary investment in every home I list, I actually make money when I walk away from over-priced listings.
The Tampa Bay area is experiencing about a 5.3% absorption rate - simply put, only 1 of every 20 homes on the market at any given time are being sold. The North County beaches are experiencing about 3.35% - or 1 out of every 30 properties!!!
So I have 2 questions:
1) Are you one of the 19 (or 29) listings just sitting there?
2) What are you willing to do to become that 1 home that sells?
Answer those questions and you will be a successful seller.
Who thought the Fed would have an emergency meeting?
Who thought the Fed would cut the rates 3/4 of a point, which is the LARGEST CUT IN 27 YEARS?
Who thought the housing market would begin to bounce back so soon?
Did I just say that? I DID!!!
Now, let me preface that comment that I am referencing my tiny corner of the Tampa Bay Real Estate market. I have seen a tremendous increase in buyer activity, which has led me to ink 3 contracts w/i the last 14 days! My sellers are happy, my buyers are looking...all is getting right in that sector.
Let's put it in perspective - don't go planting that sign in your yard and expecting Buyers to beat a path to the closing table. I have insisted that my Sellers price their properties correctly so that when Buyers do present themselves, the properties are positioned to solicit an offer. I can advertise a home in every major media publication in the 48 states, but if it's not priced where a Buyer sees value compared to the myriad properties out there, it's a dead listing.
I can't tell you the number of listings i have walked away from. Since I make a monetary investment in every home I list, I actually make money when I walk away from over-priced listings.
The Tampa Bay area is experiencing about a 5.3% absorption rate - simply put, only 1 of every 20 homes on the market at any given time are being sold. The North County beaches are experiencing about 3.35% - or 1 out of every 30 properties!!!
So I have 2 questions:
1) Are you one of the 19 (or 29) listings just sitting there?
2) What are you willing to do to become that 1 home that sells?
Answer those questions and you will be a successful seller.
Thursday, January 17, 2008
Sorry I haven't posted on time...I have been inundated with Buyers, Sellers, writing contracts, and selling properties!
Coldwell Banker has a unique program called TrendGraphix that culls sales date from our MLS systems. That data is ordered and release to Coldwell Banker realtors on or about the 10th of each month for the preceding month.
After reviewing the December sales data, we are definitely on an upswing. In fact, we experienced a contracting supply of properties for sale AND and an increase in existing sales. That indicates a stabilization in our marketplace.
Obviously, 1 month does not a trend make - but maybe there is a light at the end of the tunnel.
In other news, here is one of my new listings:
Coldwell Banker has a unique program called TrendGraphix that culls sales date from our MLS systems. That data is ordered and release to Coldwell Banker realtors on or about the 10th of each month for the preceding month.
After reviewing the December sales data, we are definitely on an upswing. In fact, we experienced a contracting supply of properties for sale AND and an increase in existing sales. That indicates a stabilization in our marketplace.
Obviously, 1 month does not a trend make - but maybe there is a light at the end of the tunnel.
In other news, here is one of my new listings:
14130 Rosemary Ln #6215
Largo, FL 33774
LAKEVIEW BEAUTIFUL! Welcome to Lakeview Largo, Largo’s premier 55+ community. This warm and inviting **Completely Remodeled** gorgeous 2/2 condo offers: Tiled floors throughout, new custom kitchen with newer appliances, new remodeled Bathrooms, newer A/C (2002), all new thermal insulated windows (2000), sunroom (not incl in sf), ceiling fans in every room, plantation shutters in Master, filtered water, lots of storage, and so much more! Enjoy a beautiful view of the peaceful lake and community pool from your sunroom, Master Bedroom, Living Room & Kitchen! When you’ve seen the rest, come and see the best and you will fall in love!
Visit my listing at:
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