All Forum Posts by: Lynn Z

see, that's the problem with realtors. Of course, all an agent needs to do is sell one big property and they're off that bottom tier of 50% to a higher per centage. Who would use one that only makes 50%? Also, on a $200,000 sale even .75% is $15.000. Are you saying no one would touch $15,000? The owners don't always make that kind of profit. Also, discount realtors list at 4.5% in our area. That is 3% to the buying side and 1.5% to the selling side every day of the week. Their whole business is modeled that way. Those agents are splitting with their brokers too.

In a FSBO, all they want is the realtor to make one trip to their door with a qualified buyer. That's not much gas. The owner holds the open house, they place the ads, flyers etc. If a realtor had a client, it's a cheap way to write up a contract and not have to waste gas.

How ethical is it to know there's a perfect house in the neighborhood a client want/needs and avoid that block just because it's a FSBO and won't pay 6%? After all, they would have to call that number and ASK if they'd pay 3% right? Smart agents do that. Most are too proud. The real problem is owners are too busy to let every agent PREVIEW and say they have a client and don't. Buyers are getting more and more scarce. Most agents don't have a client list. That can be a real aggravation when all they want is an "in" to get the house listed but has no client. Now that is a waste of time....to the owner.

I asked to look at an MLS book last week and the agent asked "do they still publish those"? He just got out of training, can you believe?

used to advertise in the local paper. Starting using craiglist and the local university website, both of which allow digitals. After one year, we don't used local newspaper because it doesn't produce as is too expensive. Craigslist allows 4 photos and this has allowed us to rent sight unseen to graduate students studying abroad who need an apartment quick. It seems like the website works in waves and craigslist works throughout the year.

I've just discovered that the house I'm buying has a great deal less square footage and the county figures copied in the listing agreement include non heated square footage. Why do realtors not measure anymore? Do they want to fluff the figures? Any idiot knows the county can't measure houses from the inside and are guessing at best at what's heated or unheated. What's the big deal? Then they have that + or - 10% accuracy deal as well.
Let the buyers beware.

this is a new purchase and I'm sure the limited down is coming from elsewhere. Someone must have not been caught by the seasoning problem before.

our lender allowed the adjacent lot to be sold off (released it) but required some of the proceeds to be applied toward the overall property loan as the loss of the lot does decrease the value of the holding. you might want to see if the lender would release the lot for sale and tell you how much of the $$$ would have to go toward reduction of the loan. This is a bank lender so other s might not be so conservative.

I think lending is loose -- what about all those "second homes" that are just accross the county line and "ride by appraisals" are the norm. No one advises a survey to be gotten or ordered, no termite letter is required by lenders anymore...if the consumer doesn't pick up the latest realtor association contract they're at the mercy of the seller or their lawyer (who may not have an up to date contract)

banker just offered to fix a HELOC at 8% as a policy if the person has a high FICO score. That probably is happening everywhere. At least it would stop it before going to 9%. ouch.

if someone fails to close a real estate deal due to "seasoning" problems...how many requirements are there? Does it depend on the type of loan, Fannie Mae guidelines? Usually it means the downpayment hasn't been in the buyer's long enough, right?

Does replacement property have to be "held" long term or can you improve the property and do another exchange "equal or better" ? Isn't the intent of the law to continue your investment and therefore you are merely continuing your investment if you roll into another investment property? does it matter?

I'm interested in a master bedroom/bath addition to a stone ranch I'm buying. I read an article that two guys in Atlanta did a fabulous addition off the back of the house (added 840 sq. ft.) and they published the cost at $125 a square foot. That seems high for subing yourself.

Two stories are good in our area in the pricey pricey neighborhoods with no neighborhood caps to deal with. One realtor I know did a two story and sold it at the highest price per square foot ever in that area. It got the whole street moving and that was four years ago. They're still remodeling those homes over there. He had to change contractors in the middle of the construction though. Took alot of risk in being the first. Master on the first floor would have been better on his house, I think.