Housing market is too far gone.

[Boing]

Our agent just sent us this as she was getting ready to prepare our offer. Pretty gay.

Lead just means more flavor

 

[Mejnoon]

We've had this discussion in the past. While I respect your opinion, I still disagree. It doesn't have to make anything more complicated and the average consumer is not smart enough to understand what decision they're making nor should they have to be. In residential real estate, you cannot represent the best interests of both sides, period.

This is nonsense. You can’t service a listing comprehensively without dual agency and if your clients fail to understand it that’s on you for not explaining it clearly.

You can absolutely represent the best interests of both sides, it’s not difficult and I’ve explained precisely how you do it in the past. An agent who doesn’t understand how to conduct dual agency ethically probably doesn’t understand his ethical obligations in general.

 

[Bill The Butcher]

Lead pipe is an easy fix bro, ask for a closing credit

Agent said this will have multiple offers they aren't accepting an approximate 8k closing credit.

+ have to get the city involved to fix their part of it.

Too much of a headache. Fuck all that.

 

[Phantom]

This is nonsense. You can’t service a listing comprehensively without dual agency and if your clients fail to understand it that’s on you for not explaining it clearly.

You can absolutely represent the best interests of both sides, it’s not difficult and I’ve explained precisely how you do it in the past. An agent who doesn’t understand how to conduct dual agency ethically probably doesn’t understand his ethical obligations in general.

this is delusional. Dual agency is a realtor representing their own interests over all of the “clients.” Please tell me how I would be better represented by someone ”representing“ both sides of the transaction and paid contingent upon closing that particular transaction as opposed to an independent advisor with only my interests in mind who gets the same paid to close with anyone. It‘s embarrassing to the “profession” that this is considered ethically sound in some places.

 

[intro_vert13]

realtor fight!

 

[Mejnoon]

this is delusional. Dual agency is a realtor representing their own interests over all of the “clients.” Please tell me how I would be better represented by someone ”representing“ both sides of the transaction and paid contingent upon closing that particular transaction as opposed to an independent advisor with only my interests in mind who gets the same paid to close with anyone. It‘s embarrassing to the “profession” that this is considered ethically sound in some places.

Allow me to quote myself…

No, it doesn’t, provided you’re meeting all of your other ethical obligations and that’s not a matter of opinion. The only thing you can’t do is reveal confidential pricing info, and negotiations over concessions or credits for repairs fall under that category - you advise each side based on all of the information in your possession except what the other side revealed in confidence, ie, their bottom dollar or max concession. There are literally zero other issues that might arise as a result of dual agency.

You have a general duty to be truthful and to disclose all material property info to a buyer regardless of your agency relationship with that buyer. The only important piece of info that an agent might have that is not subject to this general duty is confidential pricing info, and in practice it is not at all difficult to withhold this info if you have a little backbone.

In the real world prohibitions on dual agency limit consumer choice and introduce unnecessary complexity and cost to transactions. There is no reason an informed Buyer and Seller shouldn’t be able to choose to use the same agent.

That’s not true at all. Many sellers prefer that their agent rep both sides so they have greater control over the transaction and will be in a position to address issues as soon as they arise. And many buyers don’t want to deal with a buyers agent, they’d rather use Zillow or realtor.com to view listings then call listing agents to schedule showings or make offers.

In practice prohibitions on dual agency protect agents more than principals. They don’t prohibit an agent from closing a transaction without another agent or keeping the entire listing fee without paying out a co-op, they merely prohibit that agent from having multiple agency relationships…so he is effectively serving the same role but with no fiduciary duty and reduced liability.

 

[aloe]

we're handcuffed to our home now. though the value has risen, so has everything else in the area (obviously). not to mention i can't give up the rate i got.

ultimately if rates don't come down within the next year or two we may look at renting this place out.

Why are you looking to move?

 

[TheBoyWonder]

Why are you looking to move?

house layout is weird. doesn't really work well with the family and especially guests. mainly we're on a road that's a bit busier than expected. want to try to move to a neighborhood where i can feel comfortable eventually letting my kids run around the front yard.

 

[Muddy Waters]

 

[aloe]

FTP

 

[stevezissou]

Agent said this will have multiple offers they aren't accepting an approximate 8k closing credit.

+ have to get the city involved to fix their part of it.

Too much of a headache. Fuck all that.

If it was so easy why didn't seller do it before listing?

End of discussion time.

 

[Bill The Butcher]

If it was so easy why didn't seller do it before listing?

End of discussion time.

It went contingent yesterday. Would love to know if they were told about the lead pipes. Hoping once it sells it goes for more than what we were going to offer so it wouldn't have mattered anyways.

 

[Bill The Butcher]

If it was so easy why didn't seller do it before listing?

End of discussion time.

This is the house. Had everything we wanted:

Older
Hardwood Floors
Not an open floor plan
Upstairs
Sunroom
Big back yard (fence bonus)
Basement that can be finished
Garage
Fireplace (brick in kitchen was sweet)
Added bonus close to Fox River

404 Kane Ave, Elgin, IL 60123 | MLS #11721470 | Zillow

This 1452 square feet Single Family home has 3 bedrooms and 2 bathrooms. It is located at 404 Kane Ave, Elgin, IL.

www.zillow.com

son of bitch, still stings

 

[pookrat]

Nice little house. Huge yard. It has potential. Why only a single car garage when it looks like there is room for two cars. That would frustrate me with the snow and all. Could always build a shed or shop in that giant backyard for storing shit.

 

[Downset]

It went contingent yesterday. Would love to know if they were told about the lead pipes. Hoping once it sells it goes for more than what we were going to offer so it wouldn't have mattered anyways.

Elgin to receive $4 million from state EPA to cover cost of replacing some lead pipe water lines

The city Elgin is to receive $4 million in funds from the Illinois Environmental Protection Agency to replace lead service lines, officials said. The city has 13,500 lead water pipe lines that need to be replaced at a total cost of the project is $135 million.

www.chicagotribune.com

 

[Menger]

$10k a pop

 

[The Grand Inquisitor]

goddamn Cardone is such a fucking twat

 

[Bill The Butcher]

Elgin to receive $4 million from state EPA to cover cost of replacing some lead pipe water lines

The city Elgin is to receive $4 million in funds from the Illinois Environmental Protection Agency to replace lead service lines, officials said. The city has 13,500 lead water pipe lines that need to be replaced at a total cost of the project is $135 million.

www.chicagotribune.com

Yeah we saw that too thanks.

The issue is we didn't want to live with it and wait for it to happen. Who the fuck knows how long it will take.

 

[Bill The Butcher]

Nice little house. Huge yard. It has potential. Why only a single car garage when it looks like there is room for two cars. That would frustrate me with the snow and all. Could always build a shed or shop in that giant backyard for storing shit.

garage was weird. it had enough room for two cars but only a door for one. I guess you could get two in there if you inched back and forth to squeeze over.

 

[Downset]

Yeah we saw that too thanks.

The issue is we didn't want to live with it and wait for it to happen. Who the fuck knows how long it will take.

Denver has a similar program. But if you want it done sooner than they have planned, they will pay a certain amount towards you getting it done yourself.

 

[MaineSucks]

I dunno if pipelining works for lead pipes, but my buddy is making a fortune redoing cast iron pipes in Florida and its a really easy job with not a lot of destruction. Worth looking into if you really like the house.

 

[dgr81]

Now that house prices have crashed, are those who were complaining about prices able to buy houses now?

 

[Remy Bressant]

Now that house prices have crashed, are those who were complaining about prices able to buy houses now?

hasnt crashed yet.

 

[dgr81]

hasnt crashed yet.

My house is probably down about $400k.

Sucks, but I am for it if it will help others afford housing.

Problem is, the people who complained the loudest about not being able to afford a home, still can’t afford a home

 

[stevezissou]

My house is probably down about $400k.

Sucks, but I am for it if it will help others afford housing.

Problem is, the people who complained the loudest about not being able to afford a home, still can’t afford a home

TRANSITORY