real estate commentary: The Dark Side of Being A Corporate Hack: How General Motors Killed My Real Estate Career - 06/04/09 01:17 PM
I married into a family with 3 proud generations of General Motors execs.
Yep, GM was the "family business", and everyone was obsessed by cars. I didn't think I was, but still....
Was I first attracted to the man I would eventually marry because of all his wonderful qualities? Or … (49 comments)
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real estate commentary: Why The Mortgage Ship Sank and The Realtor Ship Sailed On - 07/17/08 12:42 PM
A few years ago, the sun was bright and the wind was strong. And while we were never the perfect partners, we still understood that both the Reator Ship (the SS CrazyMarket) and the mortgage ship (the SS LooseLending) needed to make it to shore for a real estate transaction to … (75 comments)
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real estate commentary: Shattered Dreams, Wasted Time: The Demise of the 20-Something Mortgage Brokers - 04/07/08 03:33 AM
It would not be fair to say they were in it for the money. And yet, MONEY (or shall I say EASE of making money) was what drew so many in.
It was, the gold rush that caused many young people to forsake college. Worse, to sacrifice those twenty-something years for a career that … (81 comments)
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real estate commentary: Inside the Mind of An Internet Shopper: I Put In My Dollar, Now Gimme My Coke! - 03/02/08 01:33 PM
ARE WE KIDDING OURSELVES ABOUT UNDERSTANDING INTERNET SHOPPERS?
When we Web 2.0ers dream in color, here is what we see: Mr. IRES (Internet real estate shopper) throws magic key words into Goggle. Because of our fabulous SEO savvy, he is led to our blog. Eureka!
He is madly in love with everything he reads and can't … (16 comments)
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real estate commentary: Inside The Mind of An Internet Shopper: You Can't Land A Prize Fish In a Murky Lake - 03/01/08 12:16 PM
ITS 2 AM AND THE PAJAMA WARRIORS ARE THINKING ABOUT REAL ESTATE
There is something sadly ironic about all those "pajama warriors" who apply online for a mortgage at 2AM. I often wonder why they are choosing a mortgage company in the most impersonal way EVER, yet are desperately seeking one of the most personal relationships in the … (41 comments)
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real estate commentary: Unpermitted: California's Secret Little Property Tax Revolt Is a Ticking Time Bomb - 02/29/08 07:31 PM
"Chad" (not his real name) THOUGHT he was one of the lucky ones. His house had sold, and the buyers were lender approved.
Then the appraiser delivered the devastating news that caused the whole transaction to blow up: The appraisal on Chad's house could not include the entire 700 square foot downstairs area that had been converted … (14 comments)
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real estate commentary: How Your Bad Boy Mortgage Could Cost You the Ability to Finance A Car - 02/22/08 10:55 AM
Yes, declining values have even hit the auto loan business.
Here's a heads up: Those guys who finance cars? They don't want you to have one of those bad boy mortgages with a negative amortization feature.
Over at our family's auto leasing company, one of our good credit buyers was mysteriously turned down when he applied for financing on his … (6 comments)
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real estate commentary: The Anatomy Of A Foreclosure: The Sad Decision to "Let the House Go" - 02/21/08 12:10 PM
****Good Morning America called me this morning and asked to interview the real "Jake". Jake agreed and will appear on Good Morning America tomorrow, (Saturday). Segment is on the housing crisis in California. Talk about the power of ACTIVERAIN! For anyone who wants to see the REAL "Jake", tune in tomorrow!
It is … (86 comments)
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real estate commentary: Profoundly Paperless: When Did Paper Become Socially Unacceptable? - 02/19/08 10:52 AM
"What is this Big Box, Grandpa?"
"Oh, that? That's a file cabinet. We used to store papers in it."
"Grandpa, what's paper?"
Okay, I know we've been slinging the word "paperless" around for years. Then we snickered, went back to our desks piled with paper, laughed when our clients had to sign enough paperwork … (10 comments)
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real estate commentary: If The Seller Is a Bank, You Just Don't Rank - 02/16/08 10:24 AM
In this brave new mortgage world, where at least half of all sellers are either lending institutions or agencies that represent these lending institutions, can I just say this? I MISS THE "REAL SELLERS".
You see sellers used to be real people who actually cared about closing on time. They had a real estate … (22 comments)
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real estate commentary: Upside Down On Steroids: The Demise The Mega McMansions - 02/08/08 12:28 PM
Last night I watched with interest as ABC's Nightline did a feature on a neighborhood of McMansions in Southern California....or I should say: the demise of a neighborhood of McMansions? The mortgage crisis has TRAPPED the owners in their monster homes, unable to sell, and awash in negative equity.
Not only did … (14 comments)
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real estate commentary: Lending Synergy - 02/03/08 11:02 PM
What is synergy anyway? Wikipedia defines it like this:
A mutually advantageous conjunction where the whole is greater than the sum of the parts. A dynamic state in which combined action is favored over the sum of individual component actions. Behavior of whole systems unpredicted by the behavior of their parts taken … (2 comments)
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real estate commentary: Pollyanna Never Sold Real Estate: How Americans Lost Their Optimism & Trust - 01/30/08 11:58 AM
There is definitely something about Broker Bryant's posts that always get me on my soapbox. His most recent feature includes some fascinating responses to the often heard Pollyanna statement: "NOW IS A GREAT TIME TO BUY REAL ESTATE".
Well, it isn't a good time for everyone.
This is like saying "Now is a great time … (11 comments)
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real estate commentary: Sins (and Confessions) of An American Consumer - 01/23/08 11:10 AM
I am a consumer in America. Forgive me, for I have sinned. And excuse me if I am confused.
I have spent money I do not have to buy things, and charged it to my credit cards.
I have bought real estate that I cannot afford (now that I have to make the real payment).
… (7 comments)
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real estate commentary: And We Forgive Those That Trespass Against Us... - 01/13/08 05:43 AM
I used to think NO TRESPASSING signs were, well, just plain rude. That was until I owned a property that I was forced to share with trespassers. Within no time, I was that rude property owner, and as far as I was concerned, there was no sign RUDE ENOUGH.
How about this one: "Get the hell … (4 comments)
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real estate commentary: SALE PENDING (And Praying For Lending) - 01/10/08 12:48 PM
Today, when a Realtor asks a mortgage broker this: "How long should the loan contingency be?", a mortgage broker just might say: "We can remove the contingency the day the loan closes."
Why? Because until the lender FUNDS the loan, there is danger of it falling apart.
In advance, I apologize to all of the listing … (66 comments)
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real estate commentary: The Death of Suburban Sprawl - 01/07/08 12:05 PM
As a new year begins many Americans are in an understandable economic funk. We resign ourselves to smaller cars and smaller net worths, hoping we can save not only ourselves from the ills of the last century, but also our jobs and our homes (or the equity in our homes). But is there … (29 comments)
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real estate commentary: The Millenials Are Coming! The Millenials Are Coming! - 12/13/07 12:03 PM
Update*****PLEASE, YOU CANNOT MISS THE ANONYMOUS COMMENT & PRICELESS INPUT ON THIS POST FROM "A FELLOW MILLENIAL"
All eyes were on her, certainly not me, as we strolled into the upscale suburban supermarket to pick up a bottle of wine for dinner. Who was this exotic blond creature that stood in stark contrast to the rest us … (20 comments)
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real estate commentary: A Real Estate Fable: The Winter of Skinny Rats - 12/12/07 04:12 PM
Two rats met late one December afternoon in 2007 to discuss a mortgage. BUYER RAT had been referred to MORTGAGE RAT by their mutual friend, REALTOR RAT.
"I want to buy cheddar cheese," said Buyer Rat, "but I need a loan. What is your rate, Mortgage Rat?"
"Ah, Buyer Rat, I see you have not bought any cheese … (7 comments)
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real estate commentary: Never Say Cockroach - 12/10/07 09:39 PM
During the mortgage crisis of 1982 (yes, this is NOT the first "mortgage crisis") we were forced to move when my husband was transferred to Dallas. We bought a grand old house sitting high on a hill in an elite neighborhood called Las Colinas (as Californians, we were real estate rich).
In spite of the home's regal appearance (dusty peach bricks, stately white columns, … (17 comments)
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