Watchdog: Nation’s Real Estate Disclosure Laws Fall Short
Nowadays, disclosures are required in all 50 states. But many forms are so long, so full of legalese and so poorly presented that consumers will not read them.
Lew Sichelman
Special to Banker & Tradesman
The Listing Site You’ve Never Heard Of
You may never have heard of Homesnap, but it is now the No. 1-rated agent mobile app and desktop site, with traffic up 40 percent in the last year
Online Reviews Aren’t Always Trustworthy
Many people rely on online reviews to decide what to buy. Indeed, research from Nielsen Global Media shows that opinions posted online are second only to personal recommendations in influencing purchase decisions.
Odd Lots: Dodge a Catch 22 After Natural Disasters
Homeowners who lose their homes to wildfire, flood, tornado or another national disaster often lose the records needed to prove their losses – for tax purposes, obtaining federal assistance or reimbursement from their insurance companies.
Odd Lots: Don’t Let Clients Go Radio Silent
An offer can easily disappear if a seller isn’t around to accept or counter it. If you are totally out-of-pocket for days at a time, your wannabe buyer might just move on.
Fewer Appraisals Are Mandated, But They’re Still a Good Idea
Some homebuyers are about to catch a break, courtesy of the Federal Reserve Board and other banking regulators.
Not Ready to Commit? Don’t!
Potential buyers and their real estate agents often engage in a complicated courtship dance. A top-flight real estate coach offers ways the best agents overcome prospective clients’ common objections.
Odd Lots: Refis, DTIs and More
Nothing is more devastating to a homebuyer than to search for months and finally find the place they want, only to be rejected by their lender. But it happens. According to LendingTree, 1 in 10 would-be borrowers are turned down.
Disaster Coverage is a Disaster for Most
Many – if not most – homeowners aren’t prepared for a flood, tornado or other natural disaster. And neither, apparently, are their insurance companies.
Parents Can Hurt More than Help Young Homebuyers
Parents can take a number of steps to help their offspring purchase their first homes. But beware, lest Mom and Dad steamroll their kids’ real opinions, needs and desires.
Accessory Units Gain Traction Nationwide
Today, proponents of accessory units believe they will help ease housing shortages by expanding the options for people of all ages. Now, many communities throughout the country have been relaxing their restrictions against ADUs, or outright encouraging them.
Tax Cut Hit Overshadows Paybacks
Homeowners, now and in the future, are paying more federal income tax in order to help corporations pay less federal income tax, to the tune of $620 billion.
Who Wants to Live Where Someone Died?
Trulia also discovered that if a house was haunted, buyers would rather it be possessed by a vengeful ghost than a demon. And, apparently, they’d be willing to live with the antics of the poltergeist: Less than half would be willing to pay for an exorcism.
Words Matter in Home Listings
Some real estate professionals say there are some words neither their colleagues nor their clients should use in their listings. These phrases and terms are so overused that they have become meaningless.
The Anatomy of a Real Estate Email Scam
Wire fraud has registered a year-over-year increase in losses of about 85-90 percent, and real estate transactions are one of scammers’ favorite targets. Luckily, there are a few simple things you can do to protect yourself and your customers.
Believe It or Not, Holidays Are a Good Time to Sell
With far fewer sellers distracting buyers from your listing and pretty holiday decorations providing excellent staging, the only challenge is keeping the walk shoveled and the piles of coats tucked away.
When Is a Fixer-Upper Worth the Pain?
People buy fixers for all sorts of reasons. Money, of course, is the main factor. But many simply like the house or the neighborhood, and a healthy minority figured they’d enjoy working on the place.
How Banks Can Help Protect Seniors’ Homes
Elder financial abuse is “widespread and damaging,” with the average victim losing $41,000, and almost one in 10 losing more than $100,000. Sadly, the culprits are most often family members, but banks have ways to protect their older clients.
Buy as a Group, Ditch the Guilt Over Vacation Home
After a run of bad publicity and flagging sales, the business is enjoying renewed vigor. Timeshare sales increased in 2018 – the ninth straight year – rising nearly 7 percent to $10.2 billion.
Robotics, 3D Printing Far from Mainstream in Homebuilding
Nowadays, only a handful of residences are built entirely in a factory. Many more are built with factory-built components, such as floor and roof trusses, that are delivered to the building site. But no GM or Ford Motor Co. has emerged to take the industry by storm.
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