Real Estate and the Four Levels of Competence – Searchlight Crusade

Another great article from Dan Melson about agents…

House Hunting

Buyers Who Don’t Want A Buyer’s Agent – Searchlight Crusade

This is another amazing post from Dan Melson of Searchlight Crusade about buyer’s agents. My wife and I have been looking for a home in San Diego (yeah it’s really as bad as they say out/down/over here right now) for a while, we have talked to a lot of different agents, from listing to buying (and some who’ve tried to do both). Fortunately we happened to find one of the only agents in San Diego who actually truly understands the fiduciary responsibility – and really as stated has our best interests at heart. He only gets paid if we buy, and one of the very first questions he asked us was “Are you sure you want to buy right now?”, which is what perked my ears up and what eventually made us choose him as our buying agent. He has been working for 19 years in San Diego, knows the industry and state of things here, as well as the agents to use, banks to use, etc.

His site is here so if you’re looking for a home in San Diego, drop him a line and get your questions answered quickly, concisely and honestly. As he is a buyers agent I have no real reason other than personal to support him, as I have no reason to praise him if he sucks, very much like the post from Mr. Melson, if the agent isn’t doing his/her duty, has their fiduciary responsibility in the right place, or is just a yutz, drop’em like a ton of bricks/feathers or whatever floats your boat. Oh and another reason that I back him, as he has gone completely out of his way to accommodate my wife and I and it’s not like we’re spending a metric assload of money, it’ll probably end up around 300K and yes he does get a commission from it, but even that isn’t going to cover all of the hard work that he has done for us (in my personal opinion).

Financial, House Hunting bob wilson, buyer's agent, dan melson, fiduciary duty, real estate, searchlight crusade

Wells Fargo Names Most of California Severely Distressed

Now my wife and I have been house and loan shopping for a while, as we saw the market plummeting and thought that it would be a good time to jump in, as we intend to live within our means and not buy something that we can’t afford (e.g. either one of us, should the other lose a job etc will be able to cover the mortgage). The thing that I find amusing is that we both have really high FICO scores (not that really means all that much) hers is >790, mine is >760, but the banks are putting such hard restrictions on loans now that some are demanding 5% as a *buy in*, CW mainly, so if you want to put 5% down on a house, you have to come with 10%, as 5% is the buy in. Now I don’t agree with this, and will continue renting if all banks start requiring this for the time being. This is the difficulty right now, the banks don’t want to get burned anymore than they already have, but they are alienating a lot of people who actually *can* afford to buy a home right now, and by putting such tight restrictions will keep a lot of those people from jumping in right now. I am not an economist by any means, I didn’t even graduate from college, but I can read and learn, and know that this is not good for the economy. If you need more information read Mish’s blog, though to be honest he is a deflationista so everything has a negative (or realist some would say) spin.

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House Hunting

voiceofsandiego.org: Toscano… Home Prices End 2007 with a Thud

My wife and are looking for a home right now, and this is definitely beneficial, as we would and are very much going to stay in our price range, though this makes finding something we both love hard, in the end it’ll be worth the effort.

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