I just watched a replay of the 60 Minutes segment. Generally, 60 Minutes seemed to do a dis-service to the potential home buyers and sellers. They simple skipped all the complexities of legal aspects, HUD, Fair Housing Law, mortgage qualification, home inspection...and all the topics that are valuable to many buyers, such as schools, traffic patterns, growth and development trends, etc. On the seller side, I feel they skipped similar legal and practical aspects. Another surprise was their apparent disregard for buyer or sellers in difficult markets....maybe a home will sell in 3-4 days in downtown San Francisco, but not in my markets of Lansdonw, Leesburg, or Purcellville...and who other than a seasoned agent can advise a buyer that they are paying just the right amount for a home, based on its unique attributes, based on recent comparable sales, and based on community or regional trends?
I'm hopeful I'm too close to it and that's why I'm feeling the need to defend the rights of buyers and sellers. But, I think certain buyer or sellers will be convinced that RE is easy, and get themselves in an awkward position, or legal trouble. The housing industry is still paying for what happened a few years ago when everyone thought they understood interest-only mortgages, ARMs, and negative amortization loans and pursued them, often against the caution of seasoned professionals.
I'm still as optimistic as ever, and glad to help home buyers and home sellers in Loudoun County.
Best, Nikola
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