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  • Two Flaws with the new Good Faith Estimate (7)
    • ARDELL: For as far back as I can remember, my clients have enjoyed seeing the info on a mock HUD 1 before they make an offer. This way what they see at the end matches...
    • Jeff: I won’t use the current GFE too….I use Calyx Point….I’ll just create a customized doc that with do the same thing as the bottom section...
    • Rhonda Porter: Jeff, I forgot to thank you for pointing out the payment is under “summary of your loan” however, as you mention, it does not break out...
    • Rhonda Porter: Jeff, I’m hoping we can redisclose if needed. I tend to “over estimate” on my preliminary GFE’s and I explain to clients that...
  • Nana needs a booster seat by tomorrow night (14)
    • ARDELL: tj, It’s been so long since I’ve had child safety seats in my life. My sister who lives here is gay, and while she’s a genius at many things,...
    • tj: And to be sure there is no misunderstanding in such an important matter, the tip applies when you attach a seat that has it’s own harness using the...
    • tj: That should be “I’m sure mom already knows”, i.e your daughter.
    • tj: It’s really good to see among all this economic turbulence that exposes greedy crocks and thiefs allover the place that people like Joan is also around. Very...
  • HUD Passes RESPA Reform, New GFE Coming in 2010 (45)
    • JM: The 10% increase only comes into play if you “identify” the service provider. HUD wants to give the consumer control of the process, which is fine. The...
  • Predatory Upfront Loan Modification Fees (207)
    • Tanya: I have been a LO for several years. I didn’t put borrowers in homes they couldn’t afford. I didn’t charge prepayment penalities for my profit....

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Archive for 'Agent Advice'

A buyer’s right to do “an additional inspection”

This is a “real estate is local” post, as it refers to an option generally afforded to buyers in our local standard inspection clause (Form 35 item 1) b. on page 1).  Here in the Seattle Area, a buyer usually has the right to do “additional inspections”, IF the original Home Inspector recommends in writing that there be an additional inspection by [...]

Don’t Pay Off Bad Credit

Step three in the “Should I Buy a House Now” series is somewhat of a sidetrack.  In Step 1 people learned the difference in calculating your current gross income, especially if any part of your income is not guaranteed “salary”.  In Step 2 you were sent off on a long project of accounting for your [...]

The Crackberrys are coming to Real Estate by a Storm!

I’ve been a fan of the Blackberry for years. I LOVE their “push” email technology, and it’s one-hand scroll-wheel functionality. But I had to drop-kick my crackberry for a Palm Treo when Supra came out with the eKey technology in order to access homes for sale with lockboxes. I actually kept both for a while [...]

Thanks for the great time, Zillow!

As one of the presenters put it, last night Zillow took a page from real estate agent’s marketing tools and conducted an “open house.”  A certain number of agents were invited to attend, some mortgage professionals, and there were even invites out to buyers and sellers that frequently are on the site. Part of the [...]

Do you know where to find info on septic systems and your responsibilities?

A client of mine is planning on selling a property soon and he’s trying to get his proverbial “ducks in a row” before going on market.  He asked me about what his responsibilities are with regard to his septic system and he also wanted to know if he needed to do an inspection or pumping [...]

Who Should Get Out Of The Real Estate Business?

Dustin, Jillayne, Rhonda, Galen and I were all in San Francisco for a few days for The Inman Connect Conference.  One of the most profound and spot on statements I heard at the Conference was “If you do not have a listing, right now, in THIS market (top-heavy with inventory)…turn in your license!”. Sorry I can’t remember [...]

Join me for a Housing Market Conversation with Lawrence Yun

I don’t normally cross-post between 4realz.net and Rain City Guide, but tomorrow I’m having a conversation with the Chief Economist of the National Association of REALTORS that I think will interest many people in the Rain City Guide community.   We’re going to be talking about the effect that the recent news associated with the FDIC [...]

The pain of over pricing and poor photos… and how not to get bit by them, 9+ questions to ask your listing agent.

I’ve noticed a trend in my business lately.  Several consumers are contacting our team for help in re-listing their home after having a poor experience with a prior agent.  While it is true that selling activity in Puget Sound is lower this year than last, there is still some positive selling activity occurring with some [...]

Form 17 — an addendum to the contract?

As always, this is not legal advice. If you want legal advice, consult an attorney, not a blog.
Is the Form 17 part of the purchase and sale agreement (PSA)? Should it be listed in the “Addendum” paragraph of the PSA? In a word: NO! (At least if you’re the seller — if [...]

Hands-free law starts July 1st - That means Realtors too!

Look Ma, No Hands!
Washington State will go ‘hands free’ for cell phone use in the car on July 1st, so agents (and everyone else) shouldn’t be driving around with one hand up to their ear anymore. Well…that’s the intent anyway. The Washington State Patrol says you could face up to a $125 fine, although [...]