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Seller, agent renege on home repairs

By Barry Stone, Tuesday, May 5, 2009.

DEAR BARRY: We purchased our home about a year ago. The sellers and their Realtor made a side agreement to repair some of the defects after the close of escrow. These included a new liner in the chimney, a new exhaust vent for the furnace, and a vent for the clothes dryer. The repairs were supposed to be done within three months of closing, but the sellers still have not completed the work.  more...

Estimating a real estate bottom

By Bernice Ross, Tuesday, May 5, 2009.

DEAR BERNICE: My husband and I live in Florida and have been waiting for the market to "bottom" before we buy our first home. How can we tell when is the best time to buy? --Ashley B.

DEAR ASHLEY: There's no way to tell exactly when the bottom of the market will be in your area. I've been in the business 31 years and have seen numerous ways to predict what will happen. The truth is that no one has a crystal ball. The best predictor that I have found is "months of inventory." Here's how it works.  more...

Going to bizarre extremes to buy

By Tara-Nicholle Nelson, Tuesday, May 5, 2009.

Half of the anxiety involved in buying a home is the not knowing whether the twists, turns and dramas of your personal home-buying odyssey are normal or cause for alarm. Equal parts inspiration, commiseration and manual of how-to and what not to do, "Gimme Shelter" by Mary Elizabeth Williams relates the author's own three-year house (and mortgage) hunt. And we're talking about a house hunt that was as complicated, drawn out and exasperating as the subtitle suggests: Ugly houses, cruddy neighborhoods, fast-talking brokers, and toxic mortgages: My three years searching for the American dream.

Williams, a mom, writer and cultural critic, manages to bring hindsight humor to a home-buying process that was likely very unfunny when it was taking place.  more...

The rent-to-buy transformation

By Marcie Geffner, Tuesday, May 5, 2009.

"I never liked walking in residential neighborhoods until I became a homeowner."

That casual comment by my lifelong friend Karen Alexander is but one example of how profoundly our perceptions are altered when we take that huge leap of faith into homeownership. As soon as we get the keys to our first home, we start to take a serious interest in a myriad of topics that previously hadn't caught, much less held, our attention even in the slightest degree.  more...

Home sales boom in 'busted' markets Premium Content

By Steve Bergsman, Tuesday, May 5, 2009.

If we measured home sales the same way we do automobile sales, the housing market wouldn't look so bleak.

The success of the auto industry is gauged by individual unit sales on a year-to-year basis. So if Detroit sells 275,000 vehicles one month as compared to 250,000 in the same month of the previous year, all things are swell.

In comparison, housing studies focus on pricing.  more...

NAR: Rising home sales, unemployment

By Inman News, Tuesday, May 5, 2009.

The National Association of Realtors, in its latest economic forecast, anticipates that the nation's unemployment rate will hit 10.2 percent next year. The also group boosted its expectations for resale home prices and sales in 2010 from an earlier forecast.  more...

Seller: Price cut calls for lower commission

By Benny Kass, Tuesday, May 5, 2009.

DEAR BENNY: Isn't a contract a contract? I am about halfway through an eight-month listing agreement. The Realtor is pressuring me to again lower the asking price. He has shown me where similar homes for sale have recently had their asking prices reduced. I know the market is going that way, but I cannot afford to lower my price and don't have an urgent need to sell immediately.

Do I have any legal or ethical obligation to lower my price or can I simply stick to my guns and expect that my contract be continued as is? I assume that the listing contract is legally binding and cannot be changed. If I wanted to go to another Realtor, could I get out of it or do I need to wait for the contract to expire?  more...

What makes a Realtor good: an answer

By Notorious R.O.B., Tuesday, May 5, 2009.

Few months ago, I asked “What Makes an Agent Good?” and triggered a bit of a conversation.  I was after an objective standard of quality by which a particular real estate agent can be measured, but ended up in a discussion (which is still ongoing one way or another) about professionalism, understanding technology, perspectives, and viewpoints, and so on.  more...

'Top Producer' can send wrong message

By Daniel Rothamel, the Real Estate Zebra, Tuesday, May 5, 2009.

Twitter is all about conversation, and there are plenty of real estate industry-related converstations happening throughout the Twittersphere. One of the more interesting ones occurred this weekend. . .

It all started with a tweet from one of 1000 Watt Consulting's founding partners, Marc Davison (@1000wattmarc). He raised the issue of the often-used moniker, "Top Producer," by real estate agents on Twitter:  more...