The Buyers Market

My colleague who rarely writes posted some of his insights yesterday – proof positive that still waters run deep.  He talked tough about the buyers market and I wanted to share…

Many of my colleagues and I are starting to see some ridiculous offers on homes for sale.  Buyers have to be aware that while yes – they want to get the best price possible – there is a realm of reason that must be present.

If you want to offer extremely low prices that probably won’t be accepted by any rational home seller, then make the offers on a bank-owned property so you don’t waste your time or the sellers time.  

Read his whole post.  He’s like the Harry Truman of our generation – he shoots it straight.

Home Near the Lake

There’s a huge home in my neighborhood near the lake that is now for sale.  The listing agent is Sharon Burns with Royal Properties Realty Co.  The phone number for Royal Properties is 904-8787 and Sharon can be reached at 394-1796.   The home is on 2.9 acres, has 2485 square feet, 4 bedrooms, 2.5 baths, an above-ground swimming pool, and FANTASTIC location.  It is listed at $224,900. 

Mind Your Ethics…

I just posted this over at Shak & Jill asking opinions about whether readers believe something is ethical or not.  An excerpt,

In addition, the buyer (now seller) still has areas not painted and still has no window screens.  …  The builder has the house next door listed.  It has window screens installed and they match the windows of the house my friend has listed.  Someone suggested she just take the screens out of the house next door for her listing. 

I am NOT an attorney nor a broker so take what I say with a grain of salt… it’s my opinion only.  I don’t believe the seller should take the screens from the other home, no matter how justified.  I think there’s a real danger of being charged with a crime – theft – if this course of action is pursued.  I would advise the seller to contact an attorney to let the builder know that they WILL provide screens for the window or they can face a courtroom if they don’t.

What do you think?

New Zealand Eye Opener

As usual, I spent part of my day reading up on real estate news.  I was simply astounded when I came across this article about how a real estate shake-up in New Zealand is going to strengthen consumer rights.

First, my mouth hit the floor that people won’t apparently even have to FILE a complaint against a real estate agent in order for the agent to be sued. 

After about January 2010, people cheated by an agent may not have to lift a finger. The new crown authority will be able to investigate an agent without a complaint even being laid.

Consumers will also be able to find out far more about agents too. The new law establishes a public register of agents and salespeople to record breaches of industry standards.

What?????  But as I read further, it looks like what New Zealand is doing is to finally implement more educational requirements and ethics guidelines for agents in New Zealand.  I’m grateful that we already have clearly defined ethical guidelines and state laws under which we operate in Tennessee.  To compare,

• There will be big fines if someone is found operating without a real estate license.  Same also holds true for us already.  Operating without a license is a no-no unless you’re selling your own property.
• Employing unlicensed agents.  Again, this law is already in place here.
• Giving false or misleading information.  A no-no here, too.
• Failing to disclose conflict of interest.  Bad Bad Bad.
• Rendering false accounts. Uber bad.

This new law in New Zealand probably is a really good thing.  It’s the golden rule, my friends.  Walk a mile in the shoes you’ve provided for someone else to see if they cause blisters.  If you end up with a raw and bleeding foot, you probably did it wrong.

My Favorite Closing Ever

Was it my favorite closing ever because it took us a good while to find the perfect home?

Yes.

Was it my favorite closing ever because the buyer was so happy that we both got just a little teary-eyed while she signed papers, received her keys, and was handed two garage door openers?

Yes.

Was it my favorite closing ever because of this?

From Aunt B

Yes (thank you for the flowers, my friend).

YES to all of the above.  It did take us some time to find her a home, but it’s all her.  It’s mysterious with a pump house for the well and a workshop filled with brown recluse spiders.  It’s fun with the little steel bridges connecting the various parts of her yard because of the drainage ditch that will certainly keep water from seeping into her crawl space.  You can feel the living history through the many flowers and beautiful landscaping and fireplace and dining room.  And you know the home was loved – probably by generations of the same family. 

It was an absolute joy watching my friend’s face as she meticulously signed the ream of paper set in front of her.  And the flowers were nice.  She’s the type of buyer every Realtor prays for.