by Roberta Murphy For almost two years now, there have been serious rumblings and grumblings about Option ARM and interest-only mortgages that could put a number of buyers into default. I initially gave the dicey mortgages issue detached interest, because our clients tend to be a conservative lot when it comes to borrowing. We deal with few real estate speculators and most of our clients are solid buyers of primary and secondary homes. My…
Potential Real Estate Agent Liability?
by Roberta Murphy This is an issue that should trouble many real estate professionals…. Some months ago, I met with clients and wrote an offer (at buyer’s request) that was substantially below the listed price (599,000 list price:475,000 offer). It was a rare Carlsbad, CA beach condo property with no recent comparable sales. In prior markets, I might have urged clients to target their offer into an acceptable range to avoid the risk of an…
Pay that Mortgage with Plastic
by Roberta Murphy Pay your mortgage with plastic? It’s now a possibility! We us our AmEx cards for groceries, gasoline, every Costco trip and even college tuition. One card provides cash back at the end of each year, and the other accrues points that can be used for airline travel, hotel stays and a host of other indulgences. Imagine earning travel miles, rewards and cash back just for charging your…
Short Sales and Blood in the Streets
by Roberta Murphy We list and sell real estate in good, bad and indifferent markets. Short sales are becoming common, though. So is blood in the streets. People move up, down and out all the time because life is about change and transitions. And each time the real estate market shifts, we regroup and modify strategies for buyers and sellers. There may be some inconveniences and pricing adjustments for…
Redfin Fined $50K and Told to Alter Blog
by Roberta Murphy The Northwest Multiple Listing Service in Seattle has fired a major volley at Redfin. John Cook and the Seattle PI report that Redfin has been fined $50,000 and been ordered to halt home reviews on its Sweet Digs blog, which has over 3000 subscribers. The posts are wriiten by 15 hired hands who have posted around 1000 home reviews in the Seattle and San Francisco markets. According…
Redfin Spins 60 Minutes
by Roberta Murphy I watched Sunday night’s 60 Minutes segment on the real estate industry and blanched when I heard reporter Leslie Stahl guarantee that Realtors get “six percent on every house they sell…it is sacrosanct.” Leslie Stahl dared to tread where no Realtor would ever step, because commissions are negotiable and anything to the contrary would amount to price fixing. If I go through the San Diego MLS, I will see commissions…
La Costa Membership
by Roberta Murphy One of the questions we frequently answer is: How much is membership at La Costa Resort? This South Carlsbad, CA resort features two 18–hold championship golf courses, world-class tennis facility with 4 clay and 13 hard court surfaces, a state-of-the-art athletic club, a day camp for kids, fabulous pools, a renowned spa, the Chopra Center, two fine restaurants and semi-regular social events for members. All of these…
A Solution for Junk Mail
by Roberta Murphy There is nothing more annoying than to have solicitors intruding into your life by telephone. Millions rejoiced when Do Not Call lists were instituted and we all reclaimed precious time in our lives by joining it. And junk mail? Not quite so intrusive is all the junk mail that clogs our mailboxes, trashcans and landfills. I would be delighted to never receive another offer to refinance my…
Carnival of Luxury Winners
by Roberta Murphy What a pleasure it has been to go through the entries for the first Carnival of Luxury. It was fun to read entries not only from outstanding real estate professionals, but a rant from a therapist, an art review, advice for creating abundant lifestyles, and the story of a Las Vegas legend who went from a $2500 loan to billionaire status. Perhaps it is the ultra-warm weather we have…
The No Fear Estate
Once in awhile a property comes along that will take your breath away. And that was the precise intent of an owner who had no budget, no restraint andNo Fear.You see, that visionary owner was Mark Simo, co-founder and CEO of NO FEAR and Spy Optics in Carlsbad, California as well as the TransWorld Business website that launched in 2005. Mark Simo sold this La Costa estate several years ago…
