The world has changed.
You have changed.
I have changed.
Buyers and Sellers have changed.
Real Estate Market jut Ain't What It Used To Be
A Few years Ago.
How, you say?
The favorite saying was:" Location, Location, Location"
No more!
It has changed to "Location, Condition, Price"
Buyers are a lot more demanding and picky sooooo
If you are selling and what that top $ for your location,
That probably won't happen if you haven't price your
property to the current market in according to
the condition of the condition it is in!
Looking forward to the Spring Market
Showing posts with label Greed. Show all posts
Showing posts with label Greed. Show all posts
Monday, January 27, 2014
Wednesday, February 27, 2013
SELLER A CONTROL FREAK OR JUST PLAIN NUTS!
Got this call yesterday.
They are trying to buy, for cash, a home that has been on the market since 2008.
They offered the asking price which is now at market value, splitting the fees equally..
Seller countered by adding closing cost and tax pro ration to offered price.
He thinks he shouldn't have to pay any costs or his own real estate taxes!
Hello....This is 2013... Is this seller nuts or what?
He needs help.
They are trying to buy, for cash, a home that has been on the market since 2008.
They offered the asking price which is now at market value, splitting the fees equally..
Seller countered by adding closing cost and tax pro ration to offered price.
He thinks he shouldn't have to pay any costs or his own real estate taxes!
Hello....This is 2013... Is this seller nuts or what?
He needs help.
Wednesday, March 30, 2011
REAL ESTATE CONSUMERS FALL VICTIM TO INDUSTRY GREED
The phrase I hate to hear …
“Hey, we just bought a new house! You know, we wanted to use your Gateway title company, but the real estate agent said we had to use their in-house title company and we were afraid they would mess it up if we didn’t use their agency”
It is very difficult for me to keep my composure when I know the truth about “steering” and RESPA violations the agent has committed.
Did you know the consumer has the RIGHT to choose the title company to insure the closing of their real estate deal?
It cannot be a condition of the purchase or mortgage loan (lenders also “steer” to their in-house title agency).
Many consumers know they can choose, but are afraid to exercise their rights.
I’ve been educating as many consumers as I possibly can for the past 15 years.
I’ve seen the damage joint business venture title companies have caused the title industry.
Title and escrow by definition are to be handled by a disinterested third party to all when insuring and closing a real estate transaction be it a purchase or refinance.
Question of the day: How can a real estate or lender owned joint business title agency, be a disinterested third party?
Answer: they make extra money on the title and escrow, therefore,
THEY CAN”T!
I am happy for the new home owners, but I am sad that we have again fallen victim to the greed of some companies in our real estate industry.
“Hey, we just bought a new house! You know, we wanted to use your Gateway title company, but the real estate agent said we had to use their in-house title company and we were afraid they would mess it up if we didn’t use their agency”
It is very difficult for me to keep my composure when I know the truth about “steering” and RESPA violations the agent has committed.
Did you know the consumer has the RIGHT to choose the title company to insure the closing of their real estate deal?
It cannot be a condition of the purchase or mortgage loan (lenders also “steer” to their in-house title agency).
Many consumers know they can choose, but are afraid to exercise their rights.
I’ve been educating as many consumers as I possibly can for the past 15 years.
I’ve seen the damage joint business venture title companies have caused the title industry.
Title and escrow by definition are to be handled by a disinterested third party to all when insuring and closing a real estate transaction be it a purchase or refinance.
Question of the day: How can a real estate or lender owned joint business title agency, be a disinterested third party?
Answer: they make extra money on the title and escrow, therefore,
THEY CAN”T!
I am happy for the new home owners, but I am sad that we have again fallen victim to the greed of some companies in our real estate industry.
Thursday, August 27, 2009
MORTGAGE FRAUD HEADLINES IN THE NEWS!
This morning, as I settled in to my cup of coffee and turned on the TV, I listened to the comments on Senator Ted Kennedy's passing, the first day of school chatter and then WHAM! MORTGAGE FRAUD INDICTMENTS IN CLEVELAND!
I woke up very quickly and it had my full attention. This kind of news always gets my attention and it is too few and too far between.
I was familar with some of the names mentioned. I think there are 45 people
indicted in this wave. Bridget, my title officer and I just shake our heads.
We have known for years this was happening. Our customers would want us to do the title work. We would look at the paper work and tell them what they were getting themselves into was a scam and we would have no part of it.
Within a week or two we would see on the records that another title company had "closed" it.
I think independent title agents are the "watch dogs " of the real estate industry. Most of this fraud would not have happened if the mortgage brokers did not own the title agency that looked the other way and closed them. This ownership is not illegal.Law permits them to be in the title business. It's like hiring the fox to guard the chicken coop!
COnsumers have the power to choose the title agency to handle their transaction. The role of the title agency is to insure the title and conduct the settlement as a "disinterested 3rd. party".
I can't imagine why consumers would want it any other way.
I woke up very quickly and it had my full attention. This kind of news always gets my attention and it is too few and too far between.
I was familar with some of the names mentioned. I think there are 45 people
indicted in this wave. Bridget, my title officer and I just shake our heads.
We have known for years this was happening. Our customers would want us to do the title work. We would look at the paper work and tell them what they were getting themselves into was a scam and we would have no part of it.
Within a week or two we would see on the records that another title company had "closed" it.
I think independent title agents are the "watch dogs " of the real estate industry. Most of this fraud would not have happened if the mortgage brokers did not own the title agency that looked the other way and closed them. This ownership is not illegal.Law permits them to be in the title business. It's like hiring the fox to guard the chicken coop!
COnsumers have the power to choose the title agency to handle their transaction. The role of the title agency is to insure the title and conduct the settlement as a "disinterested 3rd. party".
I can't imagine why consumers would want it any other way.
Friday, July 24, 2009
Rodney Dangerfield of Real Estate Industry
WARNING: I GET SOMEWHAT PASSIONATE ABOUT THIS!
Remember the "no respect" guy, Rodney Dangerfield?
I've said for years that this is a fitting definition of the title industry.
We are the watch dogs of the American dream. We search, correct and insure the title to your real estate property. Most often, we are the escrow or closing agent who puts it all together following the written instructions on the contract and from the lender. We prepare the papers necessary and meet with you for signing. When all conditions are met, we literally transfer title from seller to buyer and record all mortgage documents. On your behalf, we make the required pay-offs,taxes and any other invoices submitted for items to be paid out of escrow.
The buyer gets the property and the seller gets the money, and we insure the Title! Usually everyone is happy.
We have an awesome responsibility and love what we do except we feel a little sad because very few consumers out there understand and respect how vital our role is in their transaction.
Did you know the consumer has the right to choose the title company they want, to fulfill that role?
Not the Lender. Not the real estate agent. YOU! You have the right to choose your own "disinterested third party" closing agent. Buyers and sellers agree on who will do title and escrow and that's who does it.
Period!
In the consumer's best interest, I wish agents, brokers and lenders would get out of the title business and stick to what they do best!
In many cases, the affiliate co-owned title agency has higher fees than an independent title agent(Gateway Title)because they are sharing the profit with the real estate broker or lender.
How is that better for the buyers and sellers?
A little RESPECT Please, for your own title agent and the protection they provide for your American Dream!
You do have a choice.
Remember the "no respect" guy, Rodney Dangerfield?
I've said for years that this is a fitting definition of the title industry.
We are the watch dogs of the American dream. We search, correct and insure the title to your real estate property. Most often, we are the escrow or closing agent who puts it all together following the written instructions on the contract and from the lender. We prepare the papers necessary and meet with you for signing. When all conditions are met, we literally transfer title from seller to buyer and record all mortgage documents. On your behalf, we make the required pay-offs,taxes and any other invoices submitted for items to be paid out of escrow.
The buyer gets the property and the seller gets the money, and we insure the Title! Usually everyone is happy.
We have an awesome responsibility and love what we do except we feel a little sad because very few consumers out there understand and respect how vital our role is in their transaction.
Did you know the consumer has the right to choose the title company they want, to fulfill that role?
Not the Lender. Not the real estate agent. YOU! You have the right to choose your own "disinterested third party" closing agent. Buyers and sellers agree on who will do title and escrow and that's who does it.
Period!
In the consumer's best interest, I wish agents, brokers and lenders would get out of the title business and stick to what they do best!
In many cases, the affiliate co-owned title agency has higher fees than an independent title agent(Gateway Title)because they are sharing the profit with the real estate broker or lender.
How is that better for the buyers and sellers?
A little RESPECT Please, for your own title agent and the protection they provide for your American Dream!
You do have a choice.
Wednesday, June 17, 2009
ALL TITLE AND ESCROWS ARE NOT CREATED EQUALLY.
Change – Consumer’s make the Choice!
Today, a business owner in our office building told me he was listing his property with a REALTOR and wanted to know if Gateway Title worked with sellers who hire real estate agents!
My answer was “Of course. We work with buyers and sellers with or without an agent. We are the man in the middle who brings it altogether and insure the ownership of the title”.
You, the consumer, make the marketing choices and how you find a buyer. That decision has nothing to do with the title company you choose to do the title insurance and escrow closing.
One stop shopping is not in everyone’s best interest. It is bias to the real estate agent’s interest.
We specialize in escrow settlement services. We shine in our service to all who are involved in a real estate transaction. We must follow all written instructions from the parties to the transaction be it for a Purchase or refinance.
We must be unbiased to any one party.That is our duty!
I ask: How can an escrow agent, who works for a real estate agent's or lender's title company, be unbiased?
I've heard many very biased decisions that were forced on the consumer to favor the agent that owned, all or part of, the title/escrow agency. That includes the consumer's right to choose who does the title and escrow work.
Who is representing whom?
The consumers right to choose who they pick and pay to do title and escrow should be respected. It's Time!
Let Gateway "title and escrow" your next refinance or real estate deal!
Today, a business owner in our office building told me he was listing his property with a REALTOR and wanted to know if Gateway Title worked with sellers who hire real estate agents!
My answer was “Of course. We work with buyers and sellers with or without an agent. We are the man in the middle who brings it altogether and insure the ownership of the title”.
You, the consumer, make the marketing choices and how you find a buyer. That decision has nothing to do with the title company you choose to do the title insurance and escrow closing.
One stop shopping is not in everyone’s best interest. It is bias to the real estate agent’s interest.
We specialize in escrow settlement services. We shine in our service to all who are involved in a real estate transaction. We must follow all written instructions from the parties to the transaction be it for a Purchase or refinance.
We must be unbiased to any one party.That is our duty!
I ask: How can an escrow agent, who works for a real estate agent's or lender's title company, be unbiased?
I've heard many very biased decisions that were forced on the consumer to favor the agent that owned, all or part of, the title/escrow agency. That includes the consumer's right to choose who does the title and escrow work.
Who is representing whom?
The consumers right to choose who they pick and pay to do title and escrow should be respected. It's Time!
Let Gateway "title and escrow" your next refinance or real estate deal!
Monday, April 13, 2009
tougher consumers have power!
Sunday's "Plain Dealing" column by Sherryl Harris referred to a blog by a gentleman about Americans being scammed for years by companies such as the phone companies, airlines, hidden fees on goods and services. He advocates citizens taking back the control of our destiny. He says "How do you make sure good companies stay in business and bad ones behave?
Buy from a company that has a presence here, one that pumps money back into the local economy....." This touched a nerve with me BIG TIME!
Survival of my title business is the result of years of caring about and educating the consumer. I know our service is outstanding.
There is a bank in our community that asks the mortgage borrower what title company they want to chose. (that's what they are supposed to do). When we are chosen, they then order us to examine the title and send the results to their bank owned title company located in Indiana who in turn pay us a pittance for the exam (I loose money) they have us do the signing of papers and they issue the title insurance and keep the premium!
The customer thinks we did their title work. Well actually we did the work - they got the $$!
This bank tells me they do this because they can! Our loyal customers who insist to the bank that we do ALL of the work, are told "Gateway doesn't want to share"
Why would I want to share our income with the greedy bank,who makes $$$ doing mortgage loans, the only profit involved in title insurance?
Ask where the home office of the title company that is issuing title insurance on your mortgage is located.If it is not local, say "NO".
Support your local independent title agent - it's your right!
If you want to know the name of this bank, call me 440 546 9660.
Buy from a company that has a presence here, one that pumps money back into the local economy....." This touched a nerve with me BIG TIME!
Survival of my title business is the result of years of caring about and educating the consumer. I know our service is outstanding.
There is a bank in our community that asks the mortgage borrower what title company they want to chose. (that's what they are supposed to do). When we are chosen, they then order us to examine the title and send the results to their bank owned title company located in Indiana who in turn pay us a pittance for the exam (I loose money) they have us do the signing of papers and they issue the title insurance and keep the premium!
The customer thinks we did their title work. Well actually we did the work - they got the $$!
This bank tells me they do this because they can! Our loyal customers who insist to the bank that we do ALL of the work, are told "Gateway doesn't want to share"
Why would I want to share our income with the greedy bank,who makes $$$ doing mortgage loans, the only profit involved in title insurance?
Ask where the home office of the title company that is issuing title insurance on your mortgage is located.If it is not local, say "NO".
Support your local independent title agent - it's your right!
If you want to know the name of this bank, call me 440 546 9660.
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