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Archive for December, 2009

According to the NY Times, foreclosure filings in New York State for 2009 are up 17 percent from 2008, with just over 48,000 cases. Not all filings automatically become bank repossessions- many  will become short sales, loan modifications or get pulled back by the homeowners through other means (like paying the arrearage if at all possible). Even with those options, the sheer raw volume of filings will end up with more REO properties hitting the market.

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REBNY and NAR Factoid

I always sort of suspected it, but I found this today. REBNY, the Real Estate Board of New York, was, up until it withdrew in 1994, part of the National Association of REALTORS (NAR).

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How good are the schools?

I can’t tell you. Brokers are forbidden from steering.

I can tell you where to go:

Use it in good health.

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Mixed Real Estate News

It can be confusing to understand the health of the economy from the media. As the screen shot from my news feed shows, there are seemingly completely contradictory stories on the U.S. real estate market.

Continued

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A guy I sold a condo to not long ago was kind enough to send me a holiday video he set up. My clients are the best. The lengths they go are amazing.

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I remember finding a letter from 1945, written by my father from the South Pacific at the end of the 2nd World War. Japan had surrendered, and he was sharing with his parents that he and his fellow soldiers were not so much jubilant as they were exhausted. He wondered aloud about the future of mankind with such powerful weapons in the hands of mere men. It was a very unique look into a time in my Dad’s life I would never otherwise see. For the first time, I related to my father as a young man with an unknown future.

Continued

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This article in the Sunday Times sparked the typical debate between people who use agents, hate agents, and are agents. A few in particular prompted me to write a 2nd comment (my first can be read here).  Comments may close before it gets posted, so rather than lose it, here you go.

My experience with people who express such vitriol toward brokers is that their bad experiences were preceded by putting more effort into buying their MP-3 than choosing a broker. For them, I have little sympathy.

To Attorney @ #45: Brokers are paid what the market bears, period. Creating commerce (not rubber stamping it, mind you, but making it) and causing vast amounts of money to change hands is not easy or more people would do it. I don’t besmirch the importance of an attorney in a transaction, but lawyers typically can’t sell. Reminding us how high you are on the food chain doesn’t change that fact.

10% of brokers do 90% of the business. List with an agent with a verifiable track record and happy references and you’ll get value for your money. Better yet, to those who think we sip martinis while we do so little work for such a fat cut of the action, go get licensed. Work nights and weekends on straight commission and then tell me how little work we do for so much money.

All the comments are telling. Stories like these bring out the haters, and they have utterly no clue what a good agent can do in the sale of a home.

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