Profile picture for Sam DeBord

Sam DeBord's Advice

Contributions are sorted newest to oldest.

  • 2683 Contributions
  • 28 Best Answers
  • 458 Helpful

Sam DeBord wrote:

Question for Realtors

Response
Sunnyview's right on.  It's a member organization.  Yes, there are standards of conduct and professionalism, and they need to be upheld.  It's actually usually the MLS that hands down the discipline, at least here in the Seattle area.  The NWMLS is very stringent in its standards and heavy fines are handed out regularly. Let's be honest.  This is a voluntary membership in a trade organization, in a for-profit industry, not a public outreach charity.  We help people through a complicated process of buying or selling a home, and we feel that we are doing them a service in professionally helping them achieve that goal.  In the end, though, our organization is based on successful salespeople generating revenue.  Enforcement of professional standards and "weeding out" the bad seeds will be good for the organization as a whole.Shouldn't this be an entirely different thread/topic?
June 09 2011
(2)

NAR objects to 'Today' show report on sales 'tricks'

Response
Ha.  I'm sure journalists must have a different standard of ethics.
June 09 2011
(1)

What determines when or if you are better to go with a Realtor than FSBO?

Answer
These arguments usually head down the same road on Zillow, as this one has.  Here's the long and short of it:Are you a good marketer, salesperson, negotiator, organized enough to keep track of and maintain contact with visitors and their agents, and do you have enough time outside of your normal job to really concentrate on these issues?If so, you may be a good candidate for FSBO.  It's not an easy job, and it's time-consuming, so you have to be devoted to it to do it well.
June 09 2011
(1)

Question for Realtors

Response
The guy isn't bound by the Realtor Ethics code, that should be plainly obvious.   Bad PR move.  This is just like the NAR complaining about Matt Lauer's segment.  This Realtor board is reacting by lashing out at anything they can, instead of just ignoring it and concentrating on what they're supposed to do:  help their members sell real estate. 
June 09 2011
(2)

NAR objects to 'Today' show report on sales 'tricks'

Response
Bad public relations move by NAR.  It just drives more publicity to a story that they didn't like.  They should've just let it slide.
June 09 2011
(1)

I'm buying a Fannie Mae property all cash...

Response
Fannie is giving financial incentives to Owner-Occ purchasers and their agents.  You'll sign an owner-occ statement, so if you breach that, you're potentially putting yourself at risk.
June 09 2011
(1)

Where's the Shadow Inventory? Seattle Area Real Estate Inventory Down 13%

Response
Zillow is one specific company that included "sellers wanting to sell" as part of their shadow inventory, so I thought it was appropriate to post it here.  It doesn't add credibility to their stats.That being said, your points are all well taken about the upcoming distressed inventory.  There's certainly some coming, we're just not seeing the overwhelming numbers here.  As for auctions, the banks set a minimum at the value of their lien, nothing more.  Many of them are getting paid back by the Feds (in effect, you and me) 70%-90% of any loss they take on the distressed properties, so they're not particularly hurt by the losses when they sell the home as REO later.
June 09 2011
(0)
Harvard Housing Studies: Major Housing Shortage Projected
Researchers at Harvard University's Joint Center for Housing Studies are forecasting that the lack of new construction building in the current real estate market will create a long-term shortage in housing availability."With inventories of new homes at historic lows, a turnaround in demand could quickly result in tighter markets," the report notes. "Over the longer term, the number of younger households is set to rise sharply, supporting growth in the population that fuels growth in both new renters and first-time buyers. The path of the economy and evolution of the mortgage market will determine when and if this increased demand materializes."The report predicts a need for greater housing units for several reasons. For example, the report projects demand for 1 million new homes a year is needed to meet population growth in the coming decade. The report also predicts a surge in smaller homes, estimating that 3.8 million baby boomers will be looking to downsize their homes within the next decade. Also in adding to the increase in housing units needed, Immigration growth, the need to replace existing homes, and demand for second homes will contribute to rising demand, the report notes. Therefore, researchers conclude at least 16 million new housing units will be needed over the next decade. "Report
June 09 2011
(1)
Where's the Shadow Inventory? Seattle Area Real Estate Inventory Down 13%
There have been countless stories in the past year about the impending shadow inventory that will soak the market soon.  The shadow inventory is said to include a glut of bank-owned/REO homes that haven't been released on the market yet, as well as home sellers who are ready to sell, but are waiting for the market to get better.During that same time, the current inventory of homes for sale in the Seattle area has actually been decreasing.  NWMLS active listings are at 36,261 currently, with more than 10,000 of those listings being added during May.  Still, that total inventory is 13% less than the real estate inventory at the same time last year.  Multiple offer situations on homes in the Seattle metro are up more than 50% by many accounts, with well-priced homes moving quickly.What's behind this divergence between expectations and reality?  There has certainly been some delay in bank-owned homes being released on the market because of goverment regulation and changes in the foreclosure reporting process.  I wouldn't be particularly surprised if the REO inventory opened up soon and we saw some increase in those home listings.However, the other half of the "shadow inventory" is, in my opinion, just a poorly-analyzed statistic.  Companies like Zillow have concluded from polls that a large group of potential home sellers who are waiting for the market to get better are also a part of the shadow inventory.  The problem is that this group has always existed, during every real estate downturn.  It's not an impending collection of homes getting ready to flood the market at the bottom.  These people will only potentially sell when the market has already started appreciating again, and therefore will only affect that appreciating market.  It could slow appreciation a bit, but it's nothing so ominous as to deserve the shadow inventory label.
June 08 2011
(1)
North Lake Washington Waterfront Homes: Kenmore and Lake Forest Park
When reporting on Lake Washington's waterfront, some of the smaller communities sometimes fly under the radar. This is often the case with Lake Forest Park and Kenmore, both of which provide beautiful locales for waterfront living.Four waterfront homes have been sold thusfar in 2011 in these cities. Kenmore provides some particularly inexpensive properties with access to Lake Washington, as many homes along the Sammamish river are just a short trip downstream to the lake. In addition, there are a number of traditional waterfront homes, like the $1.5 million home along the shoreline of Inglewood Golf Club that sold in March.Lake Forest Park has a nice stretch of waterfront along Sheridan Beach, providing some surprisingly-level lots as compared to the Seattle neighborhoods directly to the South. The access from 522 makes a quick trip to either side of the lake.North Lake Washington Waterfront Real Estate - Kenmore Waterfront Home Sales and Lake Forest Park Waterfront Home Sales, YTD 2011MLS # Address City Price Beds Baths Sq Ft190890 7712 NE 170th St Kenmore $335,000 3 2.25 2,660170669 16301 Inglewood Rd NE Kenmore $1,075,000 4 2.25 3,250135405 15746 Beach Dr NE Lake Forest Park $1,300,000 4 2.5 3,880184799 16800 Shore Dr NE Lake Forest Park $1,980,000 3 2.5 2,780
June 07 2011
(0)