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Sloppy real estate deals surge in hot market

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Real estate professionals are seeing more sloppy deals in this hot housing market than in the past, according to the overwhelming majority of respondents in an informal Inman News poll. The latest tally of survey results found 86 percent of respondents said they'd seen sloppy business practices increase. But their ideas about whom to blame for such dealings varied widely, and they pointed fingers at everyone from newbie agents to lenders to appraisers. Some didn't try to place blame, and instead simply warned that the current situation smacks of a boom-and-bust cycle. "House prices have been going up $10,000 a month in New Jersey," wrote one person. "I sold a home three years ago for $109,000, it was just resold for $320,000!!! Talk about inflated home prices! As a real estate broker for the last 20 years, it reminds me of what happened in 1989 and 1990...for those who can remember, it was a crash." "I've been a real estate appraiser for the past 29 years and I can feel the sky i...