Appraisers… what’s their real job description?
Since when did appraisers become home inspectors? Just curious as I encountered a never before sitaution today… As my property inspector was packing up from a routine property inspection, the appraiser drove up (early I may add) to what I thought at the time was to appraise the property. Read more
Debate #3, better,worse, more of the same?
Did you watch #3, I thought for the most part, just more of the same, McCain’s mention of the Fed buying up all the bad mortgages got my interest. Health care has been an issue for as long as I can remember, and other than a lot of the usual he said, no he said, and what I thought was a bit of rudeness on McCain’s part nothing changed my mind about either one of them. How about you, any new thoughts since #2
The Great Depression, take two?… NOT A GOOD THING…
I usually don’t partake in discussions that revolve around politics, however, after last nights debate and the passing of the “bailout” I feel obligated to do so! Read more
How much does it cost to make an offer?
“How much does it cost to make an offer,” my first time home buyer asked. Nothing, but you do need to write a check for up to 3% of the purchase price, made out to a title company of your choice. This is the “earnest money,” or “good faith money.” This is not a down payment, but just a deposit to secure the offer or contract to show how serious the buyer is. In the simplest words, by default, buyer has 17 days, unless otherwise stated in the contract, to cancel the contract and get their deposit back.
How Much Will the Seller Take?
In today’s market every buyer is looking for a bargain. With that in mind it is no surprise that the question most often asked these days from buyers is “How much will the seller take?” There is only one sure-fire way to find out…write up an offer! Read more
DEAL or NO DEAL
Deal or No Deal?
Everyone’s definition of a “DEAL” is different.
Many of today’s buyers are in the mindset that a “Deal” is purchasing a home below current market value. What is current market value? It is the price a willing and capable buyer is willing to pay and a seller is willing to accept. Below Market sales do not occur in today’s web 2.0 world. Information is plentiful for both the buyer and the seller. Properties priced below market value are not kept a secret for long. Homes listed at below market prices wind up getting multiple offers and sell at the price determined by the bidders which is now the market price. Many of these people looking for this type of “DEAL” have not purchased anything and may not because they continue to offer below the market price. They are not the only buyer out there. I recently heard of aproperty with 89 offers. The demand is still very strong. Before the internet many properties were kept a “secret” because it took more time, effort and money to get the information out; so yes purchasing below market value was possible then but not now. Read more
IS THE FED BAIL OUT A GOOD THING FOR THE ECONOMY?
The Media is mixed, the WSJ says……..the NY Times says…….. CNN is sure the bail out will………….
MSNBC believes it ………………….. What caused the problem? Can it all be blamed on SubPrime loans? Everyone has an opinion, good , bad, now, later, caused by…………? Does the past even matter except to learn from it? If so what should we have learned?
Your Thoughts?
Is the Bottom In Sight?
The window is open but could be closing soon. The window I am speaking about is “The Window of Opportunity”. In the Bay Area we might be seeing the light at the end of the tunnel. The bottom might be in sight. Why am I saying this? It is economics 101; Supply and Demand. On the Supply side in the Bay Area we are seeing the Supply stabilize or even decrease in certain areas. Read more
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