The FTC went against two multiple-listing services for restraining competition by discriminating against a type of service often offered by discount real-estate brokers.  We are back again with this issue.  Discount brokers want to access what full price brokers work hard for, and this time, the authorities are getting involved.  Guess who will be hurt in the end?  Consumers.

The FTC announced that it reached agreements in some parts of the country, avoiding further legal action with them.  The policies in question block certain listings of homes for sale from being displayed on Realtor.com and other Web sites often used by consumers to search for homes.

The FTC maintains that restrictions on such listings deprive consumers of the right to save money by using limited-service brokers.  What it does not include is that full service brokers should pay the bill.  Guess what will happen eventually?  Brokers will get fed up having discounted brokers riding on the complete work they do.  Ultimately, MLS will be put in the middle of a fight that has no easy sides.  Again, consumers will be hurt.  Some MLS operators have argued that they have the right to establish rules deemed to be in the interest of the brokers that set up and own the MLS.  After all, it is a paid service.

Read the original article here.

80% of Americans find it difficult for first-time buyers to buy a home, according to AP-AOL, and 59 % believe the situation is worse now than 5 years ago.

And according to the Census Bureau, a third of U.S. homeowners with mortgages spent 30 percent or more of their household income last year on housing costs. These costs, which include mortgage payments, taxes, insurance and utilities, are usually considered excessive if they top 30 percent of household income.  That is excessive and dangerous.  This is what we need to monitor as that will obviously greatly influence our economy.

With a nationwide jump in median home values of 32 percent from 2000 to 2005, I always feel bad for first-time buyers.

Here are more numbers:

46 percent surveyed found the market in their area is overpriced.

45 percent believed their market was priced about right.

5 percent found their market was under priced, with the remaining few having no opinion.

Interestingly enough, the poll found people in suburbs found the market as price-inflated than those who live in cities and rural areas.

The next two years, 49 percent believe housing prices in their area will go up.

18 percent thought they would go down.

32 percent believed prices would stay the same. The rest did not voice an opinion.

This number spoke a lot to me, 78 percent say they worry about paying more than the fair market value for their abode.  I wonder if this is due to the poor image some Realtors have portrayed with shady deals and unethical behavior? 

65 percent fret about being able to afford their mortgage payment

62 percent fear that the home might drop in value. Fifty-eight percent worry that they won’t find enough money for a down payment.

It looks like a lot of buyers don’t feel too optimistic over the near future.  It will be interesting to see how agents react to this.  As an optimist, I always see the bright side of things and can easily find answers to a gloomy scenario.  And after all, life is what you make it.

Here is the Real Estate article.

This is one listing I wish I had.  I know exactly what kind of home it is, where it is and I would get the right people for it.  For $326,619 you can buy yourself a small Provencal
village built on the ruins of a Roman settlement in the South of France.

With 5
buildings in total, with common local names, such as "La Cantinette",
Le Pavillon "Nid d’Amour", "Le Rocher", "La Grotte" and "La Cuisine
d’ete".  You could live your Provence life dream.  It is a great opportunity to run a business from there!

Go feast your eyes on this property.

They both gamble on the money they put down.  When you list with an agent, the agent puts down money they made from their previous transactions in order to have your home sold in the amount of time the contract lasts, hopefully.  If it goes through, the agent will have to recoup the advertising, the insurance, the MLS fees, the associations fees, then all the regulars we all need to have, food, housing, vehicle, etc.

What happens when the house does not sell?  The agent loses thousands of dollars in lost advertising and time spent.  This can explain why some less-than ethical agents could go to extra lengths to make sure a deal goes through.  Unfortunately, cutting corners is the best way to set you up for huge problems.  When agents cut corners by not revealing what they know, taking on properties they should not, they are making themselves liable.

Most lawyers see Realtors as easy money makers, ethically challenged.  To this day, dual-agency, the act of selling a house when both the seller and buyer are either represented by the same agent or broker raises a red flag.  In the lawyers framework, how can an agent represent the best for both parties?  The reason why lawyers think like that is, quite frankly they see the negative aspects of people on daily basis.  However, as I have seen here in our office and also having been art of a dual-agency, it can a very positive and safe experience.

All in all, it depends on who the broker is, the agent and the company.  Do they really uphold the value they claim or is it just lip service?  I am happy to be part of Robert Weil Associates.  With 34 years of community service and impeccable reputation, there nothing better than word of mouth to validate the quality we believe in.

I wanted to talk a little more about Casa Grande on Linvingston Dr. where we currently live.  Almost everyone knows about it, have seen, sometimes even stood in front of it and even walked through the courtyard.  It is as beautiful inside as outside.  We feel very lucky to finally be in that building.

That is my car in front of Casa Grande.  Here is a little history on it as you might have seen in Long Beach must have architecture book, The Long Beach  The building was built in 1928 and the architect was Cecil Schilling, from the firm of Schilling and Schilling who later built the Lafayette Hotel, and were considered the fathers of "modern architecture applied to commercial buildings in Long Beach.  They were known for their Art Deco building and this is why Casa Grande really stands out.  As a collector of old cars, I appreciate the one off, the one that stands out from the norm and I feel Casa Grande was just that for this firm. 

Being born in Nice, south of France, I am very familiar with the Mediterranean and Spanish style.  My childhood home being called La Hacienda, was designed by my father, a northern German man who sought the warmer weather of the south of France.

The first thing that strikes you walking around the building are the intricate details, protruding turrets, exterior balconies and round towers.  The flower arrangement are my neighbor’s loving, tender care.  I have already added to the collection.  Another striking aspect of this building is its built quality. We rarely hear our neighbors and having survived the 1033 earthquake, you cannot help but feel safe in it.