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!

http://www.msnbc.msn.com/id/21134540/vp/22838905#22838905