Showing posts from 2012


It should be obvious to you by now that sometimes coming up with original content week after week can be a challenge. In fact one that from time to time I suffer to achieve. However, from time to time my articles write themselves (actually the topic hits me between the eyes and says here I am dummy run with it).
This week is one of those weeks. Twice in the past two days I had agents come to me and ask for advice. Both of them represent well qualified buyers and they are having a difficult time getting offers accepted. Now forgive me please as I am about to share an I told you so moment. For the past year, I have spent a preponderance of this column encouraging buyers to get off the fence and buy while we were still in a buyer’s market. I predicted over and over again that we would soon be in a seller’s market. And that a golden opportunity might soon be lost.
Buyers (as I have often said) never buy in a buyer’s market. Instead they wait for the shift to a seller’s market to signal th…

Bulk Sales Revisited

This past week, I made the trek to Sacramento for the California Association of REALTORS® business meetings. And once again the hot topic was the bulk sale proposal from Freddie and Fannie.  You may remember that a few months ago I told you about Lance Martin (REALTOR® extraordinaire) who almost single handedly led the leadership of CAR to make the decision to lobby against this program.
While CAR has sent emissaries to Washington to address the issue, and spent copious amounts of money in print ads in an attempt to rally the public support in opposition of bulk sales in California, it appears that we could in fact be fighting a losing battle.
I say this because of the view on the horizon (let me explain). Seven years ago, we were in an incredible real estate market, prices were rising quickly. The average buyer could afford an above average home. And, there was nothing but blue skies all around us. But on the horizon, the companies who had always been there when the market collapsed …

Disclose Disclose Disclose

In Real Estate there is one responsibility that easily outweighs any other that a seller (or his agent) have. That is the one regarding disclosure. Simply stated if you know a pertinent fact or detail germane to the property, it must be disclosed. Failure to do so could put the offending party at severe risk of litigation.
For the seller, the form most commonly used to achieve this purpose is the Real Estate Transfer Disclosure Statement or the TDS for short. I thought it appropriate to spend a little time investigating this form because properly filled out it can be a shield, improperly completed and it will be the spear by which you are skewered.
As with all of the CAR forms, the first section identifies the property in question and confirm that it is in compliance with section 1102 of the civil code as of the date it is completed. Section two clarifies whether or not the seller is living in the property, and the amenities of the home. Through a series of check boxes we confirm the ex…


Recently the California Association of Realtors sent out a press release regarding the top ten myths of a short sale. After reading it I thought that some of you might benefit from the topic. Here is my adaptation of the story.  I hope you enjoy.
First it is important for you to note that by most accounts 2012 is expected to be the year of the short sale. This will be for a number of reasons, not the lease of is the likelihood that the IRS could begin taxing forgiven debt beginning in 2013 if their current policy is allowed to sunset.  So the motivation for sellers who are in a delinquent situation to sell will be a major driving force.
Myth 1: The homeowner must fall behind on a mortgage payment in order to qualify for a short sale. Truth: This was the case years ago. In fact it was common place for real estate professionals to consul their clients to intentionally halt payments to “motivate” the banks to cooperate with the transaction. Today what a seller must be able to prove is…