A GOOD IDEA TO ELIMINATE FICO SCORES!

As strange as this sounds, it has been suggested at several meetings of late. Just imagine qualifying someone who, other than a short sale or foreclosure, has perfect credit. They pay their bills on time....some even doing so until they are told that they have to have a late or non-existent payment in order to qualify for short sales. They are stable other than this one issue...the short sale or foreclosure. Can you imagine the number of qualified buyers we would have out there and how quickly the housing industry would recover if these people could purchase sooner than 2-7 years?Now, it would not be perfect. I think anyone who did a strategic foreclosure or short sale should not be able to qualify. I am speaking of people who, for one reason or another, simply were forced to move. These would include people with health issues, job transfers, or who were forced to take less to keep their jobs. These are the people who are responsible, who deserved a break...and I think we should give it to them.
It's an interesting thought, isn't it?

THIS IS NOT PERSONAL...JUST GOOD BUSINESS!

As we all acknowledge, emotions run high during the search for a home, the negotiations that must take place and the hurdles we must jump. As a result, many times the events that take place are very personal. Sometimes we need to be reminded that, while the relationships are personal, the decisions are not.
This post was inspired by an escrow my client is in. The property is a 5 unit income property. The owner is a Realtor, but has a fellow Realtor listing the property. For all intents and purposes, the owner is the listing agent since I have only spoken to the listing agent twice.
The structure is sound, but there is quite a bit of deferred maintenance. Leaking faucets, furnaces unable to be lit, so testing not possible, window latches broken, air conditioning units not functioning are just a few of the major issues. My buyer and I wrote a Request for Repairs, only asking for the property to be in functioning order...no cosmetics. Only an hour after sending the request, I received an angry call from the owner. "I am very upset. In fact, I need to call you back after I get over my upsetness" (yes..he did say "upsetness". That was 2 days ago and I haven't heard back. I am meeting him this morning to get inspections on the plumbing, heaters and windows. Needless to say, I am not looking forward to it.
This was not an "as is" sale. Asking for an income property to be in working order is not a personal affront. In Sacramento, we have city inspections of rental properties. I just had one completed at a duplex I had listed while it was in escrow. The seller had to do the required city repairs. There is no reason my client should assume the repairs that the present owner did not address.
He is angry, because he took our request personally. It is not personal. It is simply good business.

PLEASE....BOTHER ME!

I have some very nice clients...in fact, they are so nice that they are apologizing for making me work. They feel bad when they "bother me" to show houses. They feel bad when I offer to give them comps for the house they want to make an offer on. I have explained that this is my job; this is what I get paid for. So, to be very clear, here are the things I expect to do for my buyer clients:

• Give referrals for lenders, inspectors, insurance companies, escrow and title companies, etc.
• Provide a list of homes that fit your wish list.
• Show you as many homes as it takes to find the perfect property.
• Advise you as to the pros and cons of each home.
• Write a strong offer that will compete with any other offer to get you the home.
• Negotiate the contract with the other party.
• Make appointments and meet any and all inspectors necessary.
• Negotiate any repairs necessary.
• Oversee escrow and title to ensure proper charges and documentation
• Work with you lender to be sure contract dates are adhered to.
• Be with you during signing in case any questions arise.
• Do a final walk through to be certain the house is in the same condition or repairs have been made prior to close.
• Provide you keys to the property once it records.
• Be available for any future issues that might arise after recording.

Now, please, use me!