Opinion

Home
Write a Letter to the Editor

Sep

4
2009

First-time buyers aren't first in line

By Inman News, Friday, September 4, 2009.

Re: 'Multiple offers: the new norm' (Aug. 17)

Dear Editor:

First-time homebuyers are in a bidding contest, but if they win they are limited to "cash on hand." This simple matter is what places first-time buyers in second or third place in the bidding process. If the appraiser does not come up with the figures offered in the contract ... there goes any chances to negotiate for the first-time buyer because they are competing with cash and 20% or more down-payment buyers.  more...

Sep

3
2009

Appraisers don't determine home value

By Inman News, Thursday, September 3, 2009.

Re: 'Blame the market, not appraisers' (Aug. 31)

Dear Editor:

I'm amazed recently at the perception of both the real estate buying public -- and sometimes other real estate professionals -- as to what they believe the purpose of a list price is, and what role they believe an appraisal company, hired by the bank, serves in the sale and purchase of a home. I also wonder if buyers and sellers, prior to selling or purchasing a home, are provided with information from their real estate professional as to basic real property valuation techniques so that they (the consumer) can formulate a smart and informed offer price or list price based on their own perception of value.  more...

Property taxes going ... down?

By Curbed.com, Thursday, September 3, 2009.

California's Proposition 13 is no stranger to flak, especially whenever the state finds itself out of cash, which is apparently always. The decades-old proposition capped real estate taxes at 1 percent of the property's cash value, never to go up by more than 2 percent -- but they may actually go lower next year for the first time ever.

Blame/thank deflation if you must blame/thank anyone, but it's tough times all around for everyone anyway, isn't it?  more...

Sep

2
2009

50% of California's farmland threatened

By Curbed.com, Wednesday, September 2, 2009.

Last month, land-use experts weighed in on the environmental impacts that could result from budget cuts to the Williamson Act, California's anti-sprawl measure that gives tax breaks to landowners, usually farmers, who sign contracts to keep their land development free (in return, the state government reimburses the counties for the lost property tax revenue).

Another story to file in the California-is-screwed-department: Over the weekend, the Los Angeles Times reported that the Williamson Act is "widely viewed as the state's most significant land-management tool," and the $28 million in cuts could force landowners to sell off land they can't afford to keep. What's at stake? Oh, more than half the state's farmland.  more...

Aug

31
2009

Blame the market, not appraisers

By Inman News, Monday, August 31, 2009.

Re: '"Bad appraisal" dims financing options' (Aug. 27)

Dear Editor:

After reading both of these articles -- "'Bad appraisal' dims financing options" and "Low appraisals sabotage more deals" -- I take exception to the characterization of "bad appraisals" and "low appraisals."

Have the media and the borrower given any consideration to the fact that appraisers are doing their job? Their job is to report the current market value of the property being appraised. In the case of the letter, which describes a borrower renovating her home, I have seen this situation often and it is a reflection of the current market, not necessarily a "bad" appraisal.  more...

Aug

27
2009

Broken ARMs hurting housing

By Curbed.com, Thursday, August 27, 2009.

Tales of mortgage woe are often boring and complicated, but the New York Times' John Leland has a good story today about how option ARMs have replaced subprime as the housing industry bogeyman.

Between 2004 and 2007, $750 billion in adjustable-rate mortgages -- with very low payments that reset to very high payments in a few years -- were taken out by homeowners, many of whom figured they'd sell or refinance when the rates reset thanks to continually increasing home values (oops). Foreclosures are up, and some analysts see the loans as a threat to a recovery.  more...

'Bad appraisal' dims financing options

By Inman News, Thursday, August 27, 2009.

Re: 'Low appraisals sabotage more deals' (Aug. 26)

Dear Editor:

I am a Realtor, but we are experiencing an appraisal nightmare with our own home. In the process of trying to close out our construction loan, a new appraisal was required. Preconstruction, we had two appraisals that came in at more than $500,000.

Knowing the market, I knew that values had dropped a bit, but our new appraisal, post-remodel, came in at $280,000. The comps were in the area, but not "comps" at all -- just houses chosen to get the job done. The square-footage was off; the condition was completely different; etc. This did not just affect a purchase or sale -- we are trying to figure out how to finance the home that we have lived in for years. Oh yeah, the house behind us is also being remodeled. In our neighborhood, you don't remodel to sell; you do it to stay in the area -- which does not help for appraisal purposes.  more...

Aug

26
2009

When a legal right is still wrong

By Inman News, Wednesday, August 26, 2009.

Re: 'Investors defaulting to make money' (Aug. 24)

Dear Editor:

This article describes the same moral framework that allowed subprime mortgage brokers to continue to push subprime ARM loans upon the unsuspecting public.  more...

Aug

25
2009

Real estate pros: Invest in yourselves

By Inman News, Tuesday, August 25, 2009.

Re: 'Put  "Professional" in real estate title' (Aug. 17)

Dear Editor:

The problem is that in this day and age to switch a salesperson's hat to one of a consultant requires more knowledge and expertise than most salespeople have: Knowledge about financing, ability to produce a good comparative market analysis, and use of tools available to get the most and the right information to advise the seller or buyer.  more...

'Plucky' buyers moving to SoCal suburbs

By Curbed.com, Tuesday, August 25, 2009.

Back in September 2008, right about the time when the financial markets were really starting to get scary, the real estate stories were about bobcats moving into a foreclosed home in suburban Southern California.

This past weekend, the New York Times ran a real estate story about plucky buyers moving into foreclosed homes, a piece that looked at eight houses on one cul-de-sac in Moreno Valley in the Inland Empire (a neighborhood about 60 miles from Los Angeles). Among other things, the story shows the tension between those still living on the street and those families moving in to take advantage of the prices of the foreclosed homes (three of the eight homes have been sold).  more...

« first‹ previous…34567891011…next ›last »