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  • It’s Official: New Conventional Guidelines for Ordering Appraisals (8)
    • Kary L. Krismer: Yes, I’m aware of that. When Cuomo made the allegations I was surprised that it was WAMU he was going after, because it was always some mortgage...
    • Rhonda Porter: Kary, this was caused by Cuomo investigating WaMU for strong-arming appraisers to meet certain values and then blacklisting them if they did not. This...
    • Kary L. Krismer: What it’s designed to do is stop the practice of a mortgage broker calling up two appraisers, asking them for initial values prior to selecting...
    • Rhonda Porter: For the next few days or weeks (depending on who I working with as the ultimate lender) I can still select the appraiser whom I’ve worked with for...
  • Government Intervention in Foreclosure (42)
    • Kary L. Krismer: Jillayne emailed me the letter that was the result of that representation at the meeting. That’s what I was working off of.
    • Rhonda Porter: Kary, re. 37: I believe DOR has stated at a recent Escrow Assoc. meeting that excise tax is due on the loan amount when dealing with a short...
    • Rhonda Porter: I couldn’t agree with Gene’s comment more: “This is NOT a case where there was a natural disaster. This is mostly a case of a rampant...
    • Kary L. Krismer: I’ve been thinking about this excise tax thing further, from a theoretical point of view, rather than just looking at the language of statutes...
  • Mother Nature Happens… (4)
    • Kary L. Krismer: Which again is another reason to have a clause providing for an automatic extension if the transaction doesn’t close due to a reason not the...
    • Rhonda Porter: Last night watching the news, it reminded me of the earthquake we had a few years back during a busy time in the market. It didn’t matter if...

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Tag: transactions

Tracking Homebuyer Activity

Last week an agent said to me, “I have had the same 6 or 7 buyers and sellers for the last 4 months.”  Reminded me of a waitress who couldn’t “turn a table” because the same people stayed all night long.
I decided to track homebuyer activity to see how many buyers who have been looking [...]

7 reasons to make sure your agent can read well…

I’m not addressing whether or not your agent has dyslexia or if they are perhaps illiterate.  No, I’m putting out there that there can occasionally be a lack of reading on the part of an agent when it comes to documents that may be very important to purchase of a property. Rather than focus on [...]

If wishes were horses, beggars would ride

It’s much easier to “stick it to the man” when you’ve never met the man.
“If” the beginning of every residential real estate transaction were the buyers and the sellers and their agents meeting and chatting, maybe having dinner together and a drink or two for an hour. Then everyone walks through the house together [...]