Short Sale: What Happens if The Lender Wants the Agent to Take a Paycut?
Sometimes a lender will try to pressure the agent/broker to take a commission cut in order to make a short-sale happen. Most usually this occurs at the 11th hour after all parties have invested a lot of time and effort making a deal happen. It's one thing to negotiate a lower fee before the work starts. It's quite another to wait until after the work is done to start negotiating a deal. So what when the lender tries to pinch the broker?
Kim told The Wall Street Journal recently that low mortgage rates are helping to make buying more affordable than renting in many markets.
About “18 months ago, the industry was nothing much to look at: dilapidated foreclosures were flooding the market, home equity had suffered the worst retrenchment in a generation, and housing starts and sentiment were far below historic troughs levels,” Kim notes. “But after stabilizing in 2012, both new and existing home prices are now accelerating much more rapidly than in the 1990s cycle.”
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3. Will you provide three recommendations?
In some parts of the country, energy efficient and eco-friendly homes are easier to find. The real estate brokerage Redfin recently ranked cities that have the greenest homes, basing its rankings on the number of homes for sale that boast green features—such as solar panels, LEED certification, and Energy Star appliances—as well as taking into account each city’s carbon-dioxide emissions ranking.
"The residents of these cities are reducing their environmental footprint and saving money at the same time" by lowering their monthly utility bills, says Julie Jacobson, a real estate agent with Redfin.
The following cities emerged on the top of the brokerage’s list for greenest cities for homes:
pared me exactly what I needed and I was about to walk away from it! This only reinforces my belief that you should always do what is right.
If you do what is right, the universe, and God, will look out for you, providing exactly what you need exactly when you need it.
Twenty-four percent of married couples surveyed aged 18-to-34 said they had purchased a home before they were married. Of married couples aged 45 and up, only 14 percent said they had purchased a house before marriage.
Unmarried couples who live in the Northeast are the most likely to buy a home together prior to marriage, according to the survey.
In the Northeast, 60 percent of those surveyed said they waited until marriage to buy a home together, compared to 72 percent in the South.
For some young couples, buying a home together has become “the new engagement ring,” says Dr. Robi Ludwig, a psychotherapist and Coldwell Banker’s “lifestyle correspondent.” Millennials “know that they have an opportunity here, with low mortgage rates and low housing prices. And they think, ‘We’re moving toward marriage anyway, so let’s buy.’”
Some are even choosing to bypass the fancy wedding and honeymoon and save up for a downpayment instead, Ludwig says.
Couples are finding they can learn a lot about their future spouse when buying a home first, including about one another’s finances and even how many kids the other wants one day, since that often comes into play in finding a suitable size and style of home.
“It’s easy for couples to not think or talk about these things, but they’re forced to once mortgages and banks are involved,” Ludwig says.
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Fifty-six percent of the real estate agents and brokers included in the survey said most buyers are turned off by a home where the home owners have smoked. Twenty-seven percent say that buyers are unwilling to even consider a home in which the home owners smoked.
“Many prospective buyers are really put off by homes that have been smoked in and they can be very challenging to sell," says David Visentin, a real estate professional and co-host of the W Network's "Love it or List it" program.
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