Comments on: Realtor Prevails in Nationally Watched Lawsuit http://blog.redfin.com/losangeles/2008/04/realtor_prevails_in_nationally_watched_lawsuit.html Redfin Los Angeles Sweet Digs Thu, 09 Feb 2012 13:33:45 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Bad Credit Car Loan http://blog.redfin.com/losangeles/2008/04/realtor_prevails_in_nationally_watched_lawsuit.html/comment-page-1#comment-73576 Bad Credit Car Loan Sun, 08 Aug 2010 02:31:56 +0000 http://blog.redfin.com/losangeles/2008/04/realtor_prevails_in_nationally_watched_lawsuit.html#comment-73576 $3,000 for replacing your compressor? Seriously they really put it to you on that one. You can get that job done for about $1100-1200 max, at the right shop $3,000 for replacing your compressor? Seriously they really put it to you on that one. You can get that job done for about $1100-1200 max, at the right shop

]]> By: Caryn Schmidt http://blog.redfin.com/losangeles/2008/04/realtor_prevails_in_nationally_watched_lawsuit.html/comment-page-1#comment-12974 Caryn Schmidt Wed, 04 Jun 2008 20:52:55 +0000 http://blog.redfin.com/losangeles/2008/04/realtor_prevails_in_nationally_watched_lawsuit.html#comment-12974 Thank You, Mr. Ingerson for your post. I, as a broker, show houses, go over the contract with a fine toothed comb, offer real estate attorneys to work on their behalf as well as my normal fiduciary duties as a member of the NAR. I cannot tell you how many times, I have expressed my opinion regarding their financing choices and the how the decision could affect them in the long run. However, as you said...we have nothing to do with the financial side of the transaction, geez, it took until this year for Mortgage brokers to have to even register with the state of Colorado. Any joe schmoe could possibly be a broker, for one deal! Whereas I receive an FBI background check, get fingerprinted, as well as carry an assload of insurance. Regardless of what we offer as agents/brokers, Buyers willingly sit at a closing table and sign. No one forces them, trust me, If you don't really want to buy a house, or cannot qualify, I don't want to waste MY time. I will not let anyone in my car who is not pre qualified with a letter from their lender. Period. The car buying comment previously is total BS. The mess we are in is NOT going to go away any time soon....and this "blame game" is not going to help our economy. Educate yourself, familiarize yourself, ask questions. Caryn Schmidt Real Estate Broker Denver, CO Thank You, Mr. Ingerson for your post. I, as a broker, show houses, go over the contract with a fine toothed comb, offer real estate attorneys to work on their behalf as well as my normal fiduciary duties as a member of the NAR.
I cannot tell you how many times, I have expressed my opinion regarding their financing choices and the how the decision could affect them in the long run. However, as you said…we have nothing to do with the financial side of the transaction, geez, it took until this year for Mortgage brokers to have to even register with the state of Colorado. Any joe schmoe could possibly be a broker, for one deal! Whereas I receive an FBI background check, get fingerprinted, as well as carry an assload of insurance.

Regardless of what we offer as agents/brokers, Buyers willingly sit at a closing table and sign. No one forces them, trust me, If you don’t really want to buy a house, or cannot qualify, I don’t want to waste MY time. I will not let anyone in my car who is not pre qualified with a letter from their lender. Period. The car buying comment previously is total BS.

The mess we are in is NOT going to go away any time soon….and this “blame game” is not going to help our economy. Educate yourself, familiarize yourself, ask questions.

Caryn Schmidt
Real Estate Broker
Denver, CO

]]> By: tim j http://blog.redfin.com/losangeles/2008/04/realtor_prevails_in_nationally_watched_lawsuit.html/comment-page-1#comment-11371 tim j Fri, 18 Apr 2008 04:39:39 +0000 http://blog.redfin.com/losangeles/2008/04/realtor_prevails_in_nationally_watched_lawsuit.html#comment-11371 Note to Billy above: Todd Lackner was quoted in the San Diego Union Tribune before this trial started. It states: "San Diego appraiser Todd Lackner said many people in the industry are closely watching the Ummel case, and while Lackner said he believes the couple have a legitimate gripe, he doubts they will win in court."....... “But appraisals are subjective. Did they pay too much? Yes, they absolutely did. But they bought it willingly. No one forced them to purchase that house.” The quotes from this Refin post are from after the trial. I live in Carlsbad and know this area well. They overpaid for that house. Note to Billy above: Todd Lackner was quoted in the San Diego Union Tribune before this trial started. It states: “San Diego appraiser Todd Lackner said many people in the industry are closely watching the Ummel case, and while Lackner said he believes the couple have a legitimate gripe, he doubts they will win in court.”……. “But appraisals are subjective. Did they pay too much? Yes, they absolutely did. But they bought it willingly. No one forced them to purchase that house.”

The quotes from this Refin post are from after the trial. I live in Carlsbad and know this area well. They overpaid for that house.

]]> By: An Agent Trying to Scare Up Business | Redfin Los Angeles Sweet Digs http://blog.redfin.com/losangeles/2008/04/realtor_prevails_in_nationally_watched_lawsuit.html/comment-page-1#comment-11347 An Agent Trying to Scare Up Business | Redfin Los Angeles Sweet Digs Thu, 17 Apr 2008 15:47:09 +0000 http://blog.redfin.com/losangeles/2008/04/realtor_prevails_in_nationally_watched_lawsuit.html#comment-11347 [...] other day, I visited the Voice of San Diego Web site for my blog post about a real estate agent prevailing in a nationally watched lawsuit.  While I was there, I found a [...] [...] other day, I visited the Voice of San Diego Web site for my blog post about a real estate agent prevailing in a nationally watched lawsuit.  While I was there, I found a [...]

]]> By: Cindy Allen http://blog.redfin.com/losangeles/2008/04/realtor_prevails_in_nationally_watched_lawsuit.html/comment-page-1#comment-11300 Cindy Allen Wed, 16 Apr 2008 00:46:51 +0000 http://blog.redfin.com/losangeles/2008/04/realtor_prevails_in_nationally_watched_lawsuit.html#comment-11300 Mr. Ingerson, thank you for posting. A few weeks ago, the compressor blew in my three-year-old Honda. I had 77K miles on the car and no extended warranty, yet they paid 75 percent of my $3,000 repair because they knew a compressor shouldn't fail so soon. Of course people sue their stockbrokers, if they can prove gross mismanagement, fraud, etc. Same with lawyers and other professionals who fail to do their jobs. I agree that lenders are chiefly to blame for the mess we're in. I also agree that a buying a home is a good thing, if you plan to stay in it a long time. Instead of this relentless, unqualified statement that it's always a good time to buy, I'd like to see the N.A.R. truly educate consumers on the risks as well as benefits of homeownership. Then maybe we wouldn't be so quick to blame them when things go wrong. Mr. Ingerson, thank you for posting.

A few weeks ago, the compressor blew in my three-year-old Honda. I had 77K miles on the car and no extended warranty, yet they paid 75 percent of my $3,000 repair because they knew a compressor shouldn’t fail so soon.

Of course people sue their stockbrokers, if they can prove gross mismanagement, fraud, etc. Same with lawyers and other professionals who fail to do their jobs.

I agree that lenders are chiefly to blame for the mess we’re in. I also agree that a buying a home is a good thing, if you plan to stay in it a long time. Instead of this relentless, unqualified statement that it’s always a good time to buy, I’d like to see the N.A.R. truly educate consumers on the risks as well as benefits of homeownership. Then maybe we wouldn’t be so quick to blame them when things go wrong.

]]> By: Cindy Allen http://blog.redfin.com/losangeles/2008/04/realtor_prevails_in_nationally_watched_lawsuit.html/comment-page-1#comment-11299 Cindy Allen Wed, 16 Apr 2008 00:37:40 +0000 http://blog.redfin.com/losangeles/2008/04/realtor_prevails_in_nationally_watched_lawsuit.html#comment-11299 Billy, if you'll read the blog post more carefully, you'll see that Mr. Lackner's quote is taken from the Voice of San Diego article. They asked his opinion; I merely included it. What do you have against Mr. Lackner? Billy, if you’ll read the blog post more carefully, you’ll see that Mr. Lackner’s quote is taken from the Voice of San Diego article. They asked his opinion; I merely included it. What do you have against Mr. Lackner?

]]> By: Billy http://blog.redfin.com/losangeles/2008/04/realtor_prevails_in_nationally_watched_lawsuit.html/comment-page-1#comment-11298 Billy Tue, 15 Apr 2008 23:37:16 +0000 http://blog.redfin.com/losangeles/2008/04/realtor_prevails_in_nationally_watched_lawsuit.html#comment-11298 Well Cindy, I've heard some crap before but that "thing" you wrote has to be near the top. Asking a real estate appraiser (Todd Lackner) to give an opinion on real estate agents is almost as stupid as using car salesmen as examples of good character. Just goes to show, people have the right to free speech. I'm glad we also have the right to laugh at it. Well Cindy, I’ve heard some crap before but that “thing” you wrote has to be near the top. Asking a real estate appraiser (Todd Lackner) to give an opinion on real estate agents is almost as stupid as using car salesmen as examples of good character. Just goes to show, people have the right to free speech. I’m glad we also have the right to laugh at it.

]]> By: greg m. ingerson http://blog.redfin.com/losangeles/2008/04/realtor_prevails_in_nationally_watched_lawsuit.html/comment-page-1#comment-11289 greg m. ingerson Tue, 15 Apr 2008 18:36:31 +0000 http://blog.redfin.com/losangeles/2008/04/realtor_prevails_in_nationally_watched_lawsuit.html#comment-11289 This person is obviously not living in realty. The author claims, “People who sell cars qualify their buyers. They won’t let someone buy a car they can’t afford, and they won’t sell a car to poor credit risks.” If this were true, there would not be such a think as “repossessed cars” would there? The author also claims, “They [used car salesman] also stand behind what they sell.” That is only for cars with a “warranty.” Most used cars are sold “As Is.” The author states, “Real estate agents assume no responsibility for the fates of their clients after the sale. Should they?” I say absolutely not. If we are to assume that adults are responsible enough to enter into a contact [buy a home, a car, stocks, etc …] , than we should be able to assume that they are willing to take the risk of a possible loss. If we were to hold Realtors accountable for home prices dropping than where would it stop? Should we hold our stock broker accountable if the stock takes a loss? No. It is time that we as Americans draw a line in the sand and tell people that it is time that they learn to take responsibility for their financial decisions. Realtors show houses, negotiated for the best deals, and provide all the information, but we can’t and don’t force our clients to buy homes. As for the National Association of Realtors telling people it’s always a great time to buy, the truth is, it is always a good time to by as long as you are not planning on making a quick buck. Think long-term asset building. It is always a better idea to have purchased a home 10 years earlier. If the people who are losing their homes wouldn’t have taken out loans on homes they clearly couldn’t afford, they would not be in this mess. If you must blame someone, blame the banks that made loans to those without documentation of their income. Blame those who made “negative amortization” loans that added to the principal of the home every month so that the Buyer owes more each year that they live in the home. Realtors have no say in the types of loans that our clients decide to use and that’s the way it should be. Sincerely, Greg M. Ingerson Attorney At Law Real Estate Broker This person is obviously not living in realty.
The author claims, “People who sell cars qualify their buyers. They won’t let someone buy a car they can’t afford, and they won’t sell a car to poor credit risks.”
If this were true, there would not be such a think as “repossessed cars” would there?
The author also claims, “They [used car salesman] also stand behind what they sell.”
That is only for cars with a “warranty.” Most used cars are sold “As Is.”
The author states, “Real estate agents assume no responsibility for the fates of their clients after the sale. Should they?”
I say absolutely not. If we are to assume that adults are responsible enough to enter into a contact [buy a home, a car, stocks, etc …] , than we should be able to assume that they are willing to take the risk of a possible loss.
If we were to hold Realtors accountable for home prices dropping than where would it stop?
Should we hold our stock broker accountable if the stock takes a loss? No.
It is time that we as Americans draw a line in the sand and tell people that it is time that they learn to take responsibility for their financial decisions.
Realtors show houses, negotiated for the best deals, and provide all the information, but we can’t and don’t force our clients to buy homes.
As for the National Association of Realtors telling people it’s always a great time to buy, the truth is, it is always a good time to by as long as you are not planning on making a quick buck. Think long-term asset building. It is always a better idea to have purchased a home 10 years earlier.
If the people who are losing their homes wouldn’t have taken out loans on homes they clearly couldn’t afford, they would not be in this mess.
If you must blame someone, blame the banks that made loans to those without documentation of their income. Blame those who made “negative amortization” loans that added to the principal of the home every month so that the Buyer owes more each year that they live in the home. Realtors have no say in the types of loans that our clients decide to use and that’s the way it should be.

Sincerely,

Greg M. Ingerson
Attorney At Law
Real Estate Broker

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