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Florida Native working in the Central Florida area since 1979. National trainer, speaker, educator and marketing expert.
Very interesting, I can't wait to see what transpires and look forward to the article later today on Inman. I think the questions posed, albeit very good, will all be determined by how the transformation takes place and above all - accountability. I sincerely hope this does stem the tide of foreclosures, as I've talked to many broken families, and something has to change. Hopefuly this might produce some positive change, we can only wait and see. Paula Bean, REALTOR since 1979 e-PRO, ACRE Accredited Consultant in real estate A Premier Class Realty Orlando, FL office: 407-352-9678 CELL: 321-228-home(4663)
Great article Glenn - It's interesting to see how the real estate and mortgage market are in different area's. Although the sub-prime mortgages were a problem, so was the depreciation of housing. I think it is time for everyone to get more educated about real estate and mortgages prior to buying. Many of the consumers I talk with want to spend more than they should, and just because you CAN, doesn't mean you SHOULD. The reason Warren Buffet is so rich right now is that he does not live above his means. Still drives an old car, and lives in the old house he has owned for years. Who knows what the economy will be in the future, or if you lose your job, and I just saw this morning that gas prices are so high, the pumps won't even show pricing over $3.99 in some area's and they have to be replaced or repaired, or switched to charging by the HALF gallon. The market is like a rollercoaster now, everyone should tighten their seat belts and hold on because what goes up, will come down and vice versa. Paula Bean, REALTOR Carib Gulf Realty Group Regional Manager of Florida Division e-PRO Certified Technology Expert Accredited Consultant in Real Estate http://www.HomeOrlando.com
It is truly sad that we live in such a society today where people make their living off of suing others. Whether the agent got awarded fees or not, you can never get back the loss of time you had to spend defending yourself. The Judge and Jury also wasted their time. It would be nice if a Judge could review a case and refuse to let the suit go forward based on merit and evidence. I love Roland Barcos's comment though! If we are to be liable for the loss of value, then we should also be compensated for the appreciation of it ;-) I am waiting for the time to come when someone sues an agent because they let them spend too much money on a house - even though that is the price range they wanted and got approved for, but they couldn't afford it and lost it to foreclosure. Where does this madness end? I'll bet if it weren't for E&O insurance and their willingness to 'settle out of court' to save time and money, THAT is where it would end.
