Entries from Searchlight Crusade tagged with 'buyers'

Short Sale Negotiators and the Interests of Potential Buyers

I am seeing a very disturbing trend these past few months. Rather than do the work they should be doing, listing agents are treating the entire short sale process as a kind of "Black Box", delegating the negotiations with the...

Why Sellers Should Counter All Reasonable Offers

I just got off the phone with an agent who claims to have three offers on the property, but he doesn't want to counter the offer. He just wants my client to voluntarily throw more money (or more something)...

Real Estate and "Priced for Perfection"

The stock market has a phenomenon where a company's stock is "Priced for perfection." It may sound nice, but "priced for perfection" is emphatically not a good thing. It's where the stock price of a company has been bid...

Mineral Rights: They Can't Sell What They Don't Own

I am buying a home, but the contract said they wont sell the oil rights, what does this means? should I buy That was J Paul Getty's great contribution to real estate, and why he got so rich. He retained...

Failure to Disclose a Known Material Fact to Buyers

My husband and I bought a golf course-view house in DELETED. We closed 5 days ago; moved-in 4 days ago; and 2 days ago found out that the golf course is scheduled to close. It was announced by the golf...

The Tollbooth Model of Real Estate Agency

Over the last couple of decades, there's been a rising movement, mostly on the part of those who want a piece of real estate agents business, to sell agents as a toll booth. Tollbooths sit there, guarding the entry to...

"I'm Working With Someone Else, But Could You Just Help Me With..."

I recently got an email from a reader that was coming into a property as I left. I dropped my card and we did the lockbox shuffle thing, then there was an email when I got back to the...

Seller's Failure to Disclose a Pending Assessment

I am about to close on a condo unit. At the last minute, we received the resale document from the management company. All units are being assessed a one time charge of $3000 due in full Nov. 1 for roof...

The Sperm Donor Theory of Buyer's Agents

Some fathers, sad to say, are not involved in their children's life beyond conception. Maybe it was just a one night stand and they have no idea they even have a child, maybe they were involved with the mother on...

Segmented Real Estate Markets And Taking Advantage of Them

Market segmentation is what happens when certain things are much more in demand than others. For instance in the hot market brought on by the tax credit of 2009, the central area of San Diego was in high demand,...

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:...

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...

Wanting a More Expensive Property Than You Can Really Afford

This is one of the biggest issues with my local real estate market. Because the San Diego market has very high demand and limited supply of property, prices are high. A reasonable two bedroom condo runs around $200,000. A 1200...

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...

Investors Aren't The Only Ones Who Can Fix Ugly Properties

A couple years ago, I took a look at a lender owned property a few miles from my office. It was ugly. I mean ugly. The yard was a mess, there was a deck that was rotting. The facade looked...

The Seller Always Knows More About the Property Than the Buyer

Real Estate information is asymmetrical. One of the central facts of real estate transactions is that the seller always knows more than the buyer. They've lived in the property for years, and had to deal with any defects first hand....

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...

Buying Real Estate Isn't Simple

And I don't know why people expect it to be. Cancel that. I do know why. Popular media. It's not all that common in popular media, but on those occasions I see someone buying a house in the movies...

Why the Real Estate Buyers Agent's Commission is Paid by the Seller

I have to admit I'm uncomfortable with it and don't like it. As a buyer's agent, here I am getting paid by someone who not only is not my client, but whose interests are aligned, in most issues, opposite to...

Restricted Sale Property: Very Difficult to Find A Loan (Even harder to find a good one)

This is a warning to those who purchase restricted sale property. I've gotten a couple of calls for refinancing these in the past couple months, and I've never covered this subject. A restricted sale property is one where the...