Entries from Searchlight Crusade tagged with 'markets'

"Contractor's Specials"

I was looking through some real estate listings and saw one property described as: "Contractor's special, first time buyers and investors. House needs TLC." Does contractor's special mean u better be a contractor if you wanna buy this place? It...

The Era of Make Believe Loans and The Law of Unintended Consequences

One of the things I've heard and read other agents complaining about is that they can't find qualified buyers to represent. Welcome to Unintended Consequences 101. The way that the market had been working is this: Young, often unmarried, buyers...

When Selling, You Need To Understand Your Target Market

One of the hard things to get through to sellers is to understand the characteristics of the sort of buyers they need in order to have a successful transaction. If a given set of prospective buyers can't afford the property,...

Where Would I Invest A Million Dollars?

Somebody asked me that. Well, I'd want to set some aside for liquidity and reserves, in case something happened where I needed money now. invest those funds in a diversified mutual fund and money market portfolio. Once that's done, I'd...

Economics of Housing in High Density Areas

Here are the facts of the situation, whether you're talking about San Diego or Manhattan, the Bay Area, Los Angeles, or any of the other densely packed, high cost areas where all the employment and career opportunities are. Fact 1:...

When You Should Not Buy Real Estate

Okay, I did an article called Why Renting Really Is For Suckers (And What To Do About It). Fairness demands that I do a companion article on situations where buying is not a good idea. There actually are some. First...

Some Secrets to Good Transactions

Be prepared for trouble before it happens, know how strong your position is or isn't, and don't ever overplay your hand. Real estate transactions are the largest transactions most folks get involved in. Even small percentages of $500,000 or more...

I'm Competing Against Multiple Offers. How Do I Proceed?

The first thing to consider is that maybe you shouldn't. You never want to get involved in a bidding war. There's a classic riddle I ask every single one of my buyer clients at least once. "How often does...

Full Circle: Back to More Traditional Lending Standards

When things went south in the real estate market, I saw more changes in the lending industry in a few months than the previous five years. But those changes mostly restored us to the place we were a few years...

The Measurement Unit For Desirability Is Dollars

I have been asked by more than one person how to measure desirability of real estate objectively. Fortunately, the Phoenicians did all the hard work for me three thousand years ago when they invented money. Precisely what that measurement unit...

Efforts to Rehabilitate the Negative Amortization Loan

The negative amortization loan is a very popular loan with certain kinds of real estate agents and loan officers. It has two great virtues as far as they are concerned. First, it has a low payment, and despite the fact...

You Want an Agent That Can Pay ENOUGH Attention to YOU

A lot of advice gets given to choose a "top producing" agent. These highly corporate offices may have the name of an individual agent attached to them, but they are in fact transaction mills. They have done pretty well for...

What Do Buyer's Agents Do?

Got this search: "should I get a buyer's agent if I've already found a house" The answer is almost certainly yes, but I am going to examine both the pros and cons. Full disclosure: This is what I do for...

Listing Agents Claiming There Are Multiple Offers

Once upon a time, this was a good way to get more money for your listing. This led to a classic tragedy of the commons. Because it didn't take hardly any extra time, and there was no reason not to...

100% Financing or Low Down Payment or Low Equity: PMI May Be The Only Option

One of the casualties of the lending meltdown is the high loan to value second mortgage. With many properties locally having lost twenty percent or more of their value, a second mortgage on a property that ends up in default...

Who Has An Interest That Should Be Protected In A Real Estate Transaction?

I've been answering this question for a long time. Whose interests do we need to be concerned about, in a "If they are harmed, we've got a problem" sort of way? Who has a primary stake in a real...

Buyer's Markets

One of the phenomena that I have encountered is fear of the market in buyers. They are concerned if prices are falling, and that they will lose some or all of their investment if they buy. Well, the first...

Top Twelve Things That Help You Buy Property At A Bargain Price

Quite a while ago, I wrote Top Ten Reasons You Bought The Wrong House and Top Ten Reasons Your Home Isn't Selling. In that vein, I'm going to write a list of the most important things when you're shopping for...

What Are Your Options If You Can't Make Your Mortgage Loan Payment?

I found you on the Web after doing some research for my parents regarding short sales and foreclosures. I appreciate your straight talk regarding the whole loan and real estate process which I know they find incredibly intimidating. Right...

You Must Be Willing To Act In Order to Get Any Benefit

On a very regular basis, pretty much every buyer's agent who's worth anything gets clients who have difficulty making a decision. Not too long ago, I found a solid property with great potential that nonetheless needed about $20,000 of cosmetic...