Monday, October 27, 2008
A New Low in Lowering the Bar!
In what is certain to become commonplace, the legal industry has opened up a new front that will negatively impact on the real estate industry. Remember when many in the legal profession began to solicit directly to accident victims? Fast forward to the mortgage meltdown and witness the direct and not so direct solicitation to homeowners who are in dire financial
circumstances. Disgruntled homeowners will be able to effect legal action against lenders who for any reason, fail to mediate, lower and resolve their mortgage payment. What will surely follow will be counterproductive to our industry. What could a reasonable person expect to happen as these lawsuits proliferate? Legally thrashing the mortgage lenders will result in (here it comes..) higher interest rates. After all, someone is going to have the pay the legal costs of defense and financial losses that lenders may ultimately face. This action is counter-productive to reviving beleaguered real estate markets. I urge you, my fellow Realtors, to refuse to participate in this dubious scheme. The true beneficiaries of this scenario would be the attorneys, not the homeowner, not the agent and not the lender. Truly we have reached a new low in lowering the bar!
circumstances. Disgruntled homeowners will be able to effect legal action against lenders who for any reason, fail to mediate, lower and resolve their mortgage payment. What will surely follow will be counterproductive to our industry. What could a reasonable person expect to happen as these lawsuits proliferate? Legally thrashing the mortgage lenders will result in (here it comes..) higher interest rates. After all, someone is going to have the pay the legal costs of defense and financial losses that lenders may ultimately face. This action is counter-productive to reviving beleaguered real estate markets. I urge you, my fellow Realtors, to refuse to participate in this dubious scheme. The true beneficiaries of this scenario would be the attorneys, not the homeowner, not the agent and not the lender. Truly we have reached a new low in lowering the bar!
Thursday, October 23, 2008
Everybody! Take a Deep Breath!
For Sale: Giant abyss to nowhere with spectacular black hole views. $0 down. Available for immediate occupancy. Buyer to verify all contingencies with appropriate governing body prior to writing offer. Buyer agrees to waive all vertigo and depth crushing pressure claims. Motivated Seller. Hurry won’t last
OK, so I haven’t been able to sell this listing yet! Not that there aren’t a busload of individuals who I’d like to see on board leaving this earth…did I say earth, I meant town.
I’m not old enough to have lived through the Great Depression, (what was so great about it?) I am however old enough to understand that this is going to be “one bumpy ride”. But that ride will end, not with a bang but with a glimmer. The proverbial light at the end of the tunnel, or heaven; take your pick. I prefer to believe that eventually the dust will settle, the sun will rise and I will be spending my Sunday afternoons hosting an Open House.
EVERYBODY! TAKE A DEEP BREATH! Life is a blessing and nothing is more important than that I feel good. I do! So should you. OK, you can exhale now!
OK, so I haven’t been able to sell this listing yet! Not that there aren’t a busload of individuals who I’d like to see on board leaving this earth…did I say earth, I meant town.
I’m not old enough to have lived through the Great Depression, (what was so great about it?) I am however old enough to understand that this is going to be “one bumpy ride”. But that ride will end, not with a bang but with a glimmer. The proverbial light at the end of the tunnel, or heaven; take your pick. I prefer to believe that eventually the dust will settle, the sun will rise and I will be spending my Sunday afternoons hosting an Open House.
EVERYBODY! TAKE A DEEP BREATH! Life is a blessing and nothing is more important than that I feel good. I do! So should you. OK, you can exhale now!
The Blue House 11755 Laurelwood Drive Studio City
For further information on this hi tech estate please contact:
Ian Sebastian
Running Realty
818-267-7375
info@runningrealty.com
Ian Sebastian
Running Realty
818-267-7375
info@runningrealty.com
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