Real Estate

RealEstate Progress will bring up the economy rapidly, but the banks need to corporate,
especially the ones that took buyout. This should be a part of the deal.

I am not sure what your question is, but your statement is far more perceptive than most I see on Y!A. The bailout itself was heavily tilted by the power, wealth, and political influence of its benefactors solely in favor of those benefactors.

The callous greed of these benefactors is evidenced in their obdurate opposition to any contribution on their part to rebuilding our economy. We helped the wrong people.

We would have acted much more prudently had we bailed out most of the people who have lost their homes to foreclosure. The banks and other speculators holding questionable mortgages would have been paid off and thereby avoided bankruptcy without the hundreds of billions we poured directly into their coffers. Millions of homeowners would still have their homes; these houses would not be flooding the market depressing the value of residential estate.

With millions of people able to keep their homes and their equity, personal spending would not have fallen as precipitously as it did. Portfolios would not have lost their value; as a result, the big banks, insurance companies, etc., would have remained solvent and would have been able to keep all (or most of) their employees. With more people able to spend money, fewer businesses would have lost their customers. With more businesses solvent, fewer people would have lot their jobs.

The bailouts accomplished very little beyond quickly restoring to a few ultra-rich speculators and to monopolistic Corporate America the wealth (and much more) that they had lost in the early part of the recession. Now these corporations sit awash in $2 trillion, which they do not invest, their promises to do so notwithstanding.

We can still salvage our economy. Since the greedy elite will not invest this immense treasure without assurance of immediate profit, we should take much of that idle capital through taxation and spend it on rebuilding and modernizing our infrastructure. Doing so would not be MAKING work; it is doing work that is long overdue. In the process, we could put millions of Americans back to work–and back to spending and restarting our economy.

My boyfriend and I are in the process of buying a home and have no idea what to do, so I’m thinking a Realtor would be a good choice at this point. Realtors seem to be a dime a dozen so I have no idea which to choose. Does anyone know of a good Realtor in the Orlando area? Or maybe a website that compares Realtors? Any advice would be much appreciated.

Before you move, contact a realtor who works in your area. Ask them to run a search of properties that have sold in the last 6 months in the area you want to move to. Tell them to give you the names of realtors who have represented the most properties that have closed within that 6 month period. This will be a great list of names of experienced, and successful realtors to help you find a house.

I am looking for tips on what questions I should ask a realtor when I am looking for a home. I am also looking for tips on what questions I should ask when looking to get a home loan. I am a first time buyer. So any helpful tips will be appreciated.

First of all, find out WHO she is representing. Is she working for you, the seller or neither?? Don’t give away much info if she says "the seller" since it is her duty to let the seller know everything she knows about you (like if she knows you’ll pay more or if you have bad credit) Ask her to represent you…most will be happy to at no fee to you but you have to ask. She can also point you in the right direction for a loan. Make sure you get a Realtor who has experience and a good reputation. Ask bank tellers and lawyer’s office help or the store clerk. There are a lot of good loans out there for first time home buyers. Your Realtor can arrange things for you.

How can I buy a condo from someone without a realtor?

I am thinking to buy a condo from my friend’s classmate’s girlfriend. She owns the condo. Can we handle the whole purchase process all by ourselves without a realtor? How can we do that? What should we do ? what’s the procedure ? Or we have to find a realtor ?

Thanks a lot! Praying for Haiti!

No, you don’t have to have a realtor to make this transaction happen. You can have an attorney assist you with the property purchase. Be sure to hire an attorney that has extensive experience with property transfers, as this area of law can be rather complex, and you want to be sure that everything goes smoothly.

What information can a realtor hide from you if the realtor has been made aware of it.

A Realtor® is a licensed real estate professional who is a member of the National Association of Realtors® and subscribes to its strict Code of Ethics, which obligates Realtors® to be honest with all parties involved in a transaction, whether it is the buyer, seller, or cooperating agent.

A Realtor® may not disclose personal information about the seller if the seller wishes to have that information withheld. For example, the seller may wish to withhold information about a pending foreclosure, a recent divorce, recent death of spouse, loss of job, pending transfer….anything that my imply an urgency to sell.

Whats required to become a realtor in the state of NC. Are there any classes I have to take?
Rose, I don’t understand what you just wrote.

Here is everything you need to answer the question:
http://www.ncrec.state.nc.us/
You have to take classes and state exam to become licensed.
Check out the website for all pertinent information.
Good luck!

I’m a realtor, and I sold a house to a client a few weeks ago. It will close in another 2 weeks from now. Suppose I die between now and scheduled closing. Would the sale fall through, or would my employing broker be re-assigned as the buyer’s agent?

The sale is really with the broker, you are jusst an agent of his.

He would have to finish the transaction himself, he can not legally delay it because of this.

There is no re-assign here, it was always the brokers deal.

The complex has a sign that says no soliciting… but someone said that just meant people going door to door selling stuff. This was just a flyer for another realtor promoting themselves, wouldnt an apartment complex get ticked off at this?

No it is not illegal for anyone to leave a flyer for their services, Now if they were to knock on your door and want to try to sell you something and your neighborhood or apt complex has a no solicitation sign,then that is another matter. You really couldn’t do much but complain to the apt complex and let them notify whoever it was who left the flyer.

How can I buy a condo from someone without a realtor?

I am thinking to buy a condo from my friend’s classmate’s girlfriend. She owns the condo. Can we handle the whole purchase process all by ourselves without a realtor? How can we do that? What should we do ? what’s the procedure ? Or we have to find a realtor ?

Thanks a lot! Praying for Haiti!

Two things:

1) Why would you not want to use a realtor? There’s no charge to you, the buyer. All costs are paid by the seller. You will need a real estate attorney otherwise, if doing a transaction by owner. The seller should definitely pay those costs, because they will be far less than real estate commission if using a realtor.

2) More importantly, why in the world would you want a condo? Do you have any idea what you’re buying (or not buying) when you buy a condo? In a nutshell, you’re just buying air. You don’t own one wall or any part of your unit of the building. You only own the space inside the unit. Yet you will still be liable for property taxes. That’s right, you’re paying property taxes when you don’t own any real property or anything tangible. In addition, you’re paying a monthly association fee that can be as much as $200 a month, something you wouldn’t have if you bought a house. That $200 a month is much more than it would cost you to hire lawn/snow maintenance for your house. I would advise you to reconsider any condo purchase, and seriously look into buying a house. There are plenty of good deals on houses out there in this market.

I saw a specific foreclosed home that I was very interested in on multiple foreclosed websites. I found the Realtor selling the home, then when I checked the website for the Realtor’s listing of the home she had the price $60k higher then on the foreclosed websites that I had seen.

The agent does not set the price, the bank does. His listing is the most up to date one.