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Written home inspection report is gold

By Dian Hymer, Sunday, July 27, 2008.

A homeowner in Oakland, Calif., recently decided to put his older home on the market. At the recommendation of his real estate agents, he ordered presale inspection reports on the property. The home inspector noticed sloping in the floors and out-of-plumb door frames -- signs of settlement, which is not unusual for the area.

The seller informed the home inspector that an engineer had inspected the property when he initially purchased it. The seller, who was then a buyer, had been present at the time of the inspection, which is always a good idea.  more...

Pitfalls of buying foreclosures

By Benny Kass, Sunday, July 27, 2008.

DEAR BENNY: My mother was under contract to buy a foreclosed house from the bank. Before closing, she had the house inspected. During the time the house was being inspected, the heat and water system was shut off (I guess the former owners weren't paying their water and gas bill). The inspector documented in his report that the heater and water were not inspected and further stated that when it is turned on we should consult a contractor to check that everything is in order. My mother signed off and purchased the house.  more...

Kill mortgage broker deception

By Jack Guttentag, Sunday, July 27, 2008.

(This is Part 3 of a three-part series. Read Part 1, "Why good faith estimate needs overhaul" and Part 2, "HUD aims to crack down on loan overcharges.")

This series of articles explains recent proposals by HUD to make the good faith estimate of fees and charges (GFE) more useful to borrowers. The first two articles explain how the revamped GFE would make it easier for borrowers to shop alternative loan providers (LPs), and would eliminate critical weaknesses of the current GFE that encourage opportunistic pricing. This article looks at proposed revisions in the GFE to make mortgage broker pricing more transparent.  more...

Latecomers must scramble for REO listings Premium Content

By Matt Carter, Sunday, July 27, 2008.

SAN FRANCISCO -- It may be too late in the game for real estate agents and brokers who haven't established relationships with asset managers and lenders that clear foreclosed properties from their books to get listings that way, says one California broker who's doing booming business in "REO" (real estate-owned) properties.  more...

Dos and don'ts of postcard marketing Premium Content

By Alison Rogers, Sunday, July 27, 2008.

Every so often, I like to take a break from doing my own marketing to see what works on me. I got a perfect chance to do this because we are selling the beach house, which has occasioned a flood of postcards from moving companies. I'm not quite sure what tipped them off -- I haven't filed a change of address yet, and I can't imagine that these movers are roaming the neighborhood looking for "for sale" signs. My best guess is that they somehow monitor the multiple listing service and see a contract has been signed.  more...