True story. Colleague whose business-minded husband is very sick rents to a lady in Washington, DC who purportedly is an entrepreneur and can only produce bank statements, not W-2s or 1098s. The tenant pays one month security deposit and first month rent using regular checks.(Colleague now recognizes this was a major faux pas). Her three references are based out of town but all say very nice things about her and her work. Surprise, surprise both checks bounce and the woman stops returning calls. Currently, she is still occupying the property. more...
Foreclosures a popular option in Sonoma County
By MICHAEL COIT
THE PRESS DEMOCRAT
March 31, 2008
Lenders increasingly are unloading foreclosed homes as supplies continue to mount in Sonoma County — good news for buyers and bad news for homeowners trying to sell.
One in four homes sold in Sonoma County in February were foreclosed upon in the past 14 months. Every week in February, buyers purchased 16 houses or condos that had recently been in foreclosure, according to DataQuick Information Systems. more...
It's easy as a realtor to give real estate advice to a client, but when you're in a situation that seems so personal? I'm lost for words and solutions!
Ten years ago I bought my own home months after filing bankruptcy. Every year for almost 9 of 10 I've been keeping my bills down to a minimum Car and home only paying everything on time. Keeping my credit clean but rising! Five years ago I divorced my
husband and even on a single income, although struggling I managed to make all my payments on time. more...
Hi all,
I got a call from a lawyer today. He was specifically interested in my thoughts on the ability for brokers to limit their liability for the actions of agents under the broker's license.
Although, I've never been a party to real estate litigation, I think that Texas has a pretty clear point of view on the topic. Check out the Texas Real Estate Licensing Act:
Added by Acts 2001, 77th Leg., ch. 1421, § 2, eff. June 1, 2003.
§ 1101.803. GENERAL LIABILITY OF BROKER. A licensed
broker is liable to the commission, the public, and the broker's more...
I was reading about legal decisions for the last week and saw this come across. I'll admit that I missed the initial suit (remember when the market was so hot you had trouble reading your emails!?), but the below is very interesting to me.
In the case, Cirri wrote a flier with no specific name, but obviously showing his opinion of an alternative business model. What did he get for his trouble? Sued.
Since when does fair competition justify a lawsuit? Seems like those brokers with alternative business models are just cry babies sometimes. Especially limited service brokers. Man-o-man (again this is my opinion), but it seems like those guys get mad about having to provide ANY level of care and fiduciary to their clients. We have a minimum service law here in Texas which I think is good. You can really get screwed up if you've never bought or sold and just do it with no guidance as some of the limited service brokers would probably like.
What do you think? Agree with my opinions? Disagree? I'd love to hear from people with all business models.
Anyway, check out the letter and if you are from an area that Foxtons serves see if you think they were defamed. I tried to think of a broker who uses this model here in Austin, but had no luck. Maybe there is one, but I can't think of who.
The decision of the lower court was affirmed. All of Foxtons' claims were unsuccessful.
About Austin | Coldwell Banker Austin
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SUPERIOR COURT OF NEW JERSEY
APPELLATE DIVISION
DOCKET NO. A-6120-05T36120-05T3 more...
I watched this on the news a few nights ago.
7 On Your Side: Convicted Criminal Still Selling Real Estate
All in all, Mohammad H. Gharbi, Austin, Texas, was found guilty of Conspiracy to Commit Mail Fraud, Wire Fraud and Bank Fraud.
Gharbi was one of twenty-five individuals indicted in Austin, Texas for his participation in a fraud and money laundering scheme that defrauded federally insured financial institutions and mortgage lenders of more than $15 million. more...
