Real Estate Chatter

Greed.

March 17th, 2009 Categories: Real Estate Chatter

I’m so tired of the greed. Everyone needs to make a living. But charging fees to a client that isn’t your own because your client is not paying it, is WRONG.

I have a buyer who’s been looking at foreclosures. Today we found one he’d like to make an offer on. When I saw who the listing agent is, I cringed. I’ve dealt with them before. They’re the kind that stipulate in the Broker’s Remarks : DO NOT CALL OUR OFFICE TO FIND OUT IF YOUR OFFER WAS RECEIVED. Gee, I thought that’s what offices, phones and staff were for; to provide customer service.

Anyway, that’s not my beef with them today. When I looked further in the remarks it states that the buyer “must pay a $325 compliance fee for maintaining records and files.” The only reason they are charging my buyer this is because their seller won’t pay it to them!

My buyer is already agreeing to pay my brokerage firm our administrative charge. Why should he get hit with a double whammy and have to pay the seller’s side of the listing office fee because the seller refuses to pay it?

By the way, we’ve been on the other side of this as well and we do NOT charge buyers of our REO listings our administrative fee even though the seller (bank) is not paying us. We waive it because it’s the right thing to do. The seller is sending many listings our way, and we are going to show them our appreciation for those listings by charging our administrative fee to the buyer?! No. That would be wrong.

Spoken by Maggie Dokic | Discussion: 2 Comments »

Miami Homes -Paying Tomorrow’s Prices Today

January 8th, 2009 Categories: For Buyers, Real Estate Chatter

I had a lovely conversation with a Miami home buyer the other day. I was helping him sort through relevant market data so he could place an offer on a townhome. I didn’t want him to pay more than he had to. I also wanted him to understand that he wasn’t going to pay less than the market data said the home was worth.

I boiled it up by stating, “I don’t want you to pay yesterday’s prices (which were higher), but you can’t expect to pay..” before I could finish, he chimed in and finished it for me… “tomorrow’s prices either.” Eureka! We laughed. I realized he understood perfectly what I was referring to. I love it when my point gets across and makes sense instead of garnering a glassy-eyed look.

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Spoken by Maggie Dokic | Discussion: 2 Comments »

Miami Property Tax Appeal – Do Your Homework Now

January 3rd, 2009 Categories: Real Estate Chatter

If you were shocked when you got your Miami-Dade property tax notice back in August, you may have responded by filing for a tax appeal hearing.  If so, you’ll be called by the county to present evidence as to why you think their tax bill is wrong and you deserve a break today…that old McDonald’s jingle is ringing in my head…my age is showing…but I digress.

The County was still hearing appeals for the 2007 property tax year in mid 2008, so chances are no one will be called until mid 2009 for the 2008 tax appeals.  You have time to get all your evidence ready.  But don’t put it off!

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Spoken by Maggie Dokic | Discussion: 1 Comment »

Should I Stop Paying My Mortgage and Buy the House Across the Street Instead?

October 17th, 2008 Categories: Random Thoughts, Real Estate Chatter

It may sound like a nonsense question, but in today’s Miami real estate market, there are folks pondering this very same thing.

Faced with owning a house that has declined in value by 40% or more since they bought it a couple of years ago, people in Miami are wondering why they don’t just let the bank foreclose on them and then buy the house down the street at the new, lower price.

Hmmm! Can someone actually pull this off? I bet with a little creative thinking, it could be done. I don’t know anyone who has actually done it, but I’ve heard people pose the question. Not directly at me, expecting an answer. But as a “what if” scenario.

I’m not here to provide an answer to this question, by the way. But I think banks must be aware that this is a possibility and they’re more motivated to help homeowners stay in their present homes by restructuring their current loans. A lower loan payment can certainly provide the relief needed so a person doesn’t have to think about doing things like this. Even, if thinking is all they’re doing.

I’m sorry we’ve even gotten to the point where questions like this pop up. Bummer.

Spoken by Maggie Dokic | Discussion: 5 Comments »

Property Tax Appeal Deadline Is Today

September 17th, 2008 Categories: Community News, Random Thoughts, Real Estate Chatter

Today is the deadline for submitting an application to Dade County to contest the 2008 market value of your property.  If you haven’t yet done so, today is your last chance! It can take up to a year or possibly longer for your case to be heard, so don’t worry if you’re not prepared yet.  Just get the form turned in today.  You’ll have plenty of time later to gather your supporting documents.

It costs $15 to file the application.  Here is a link to the form.  Here are the filing locations:

Stephen P. Clark Center (VAB Main Office)
111 N.W. 1st Street, Suite 1720, Miami, Florida 33128-1981

· South Dade Government Center
10710 S.W. 211th Street, Room 207, Miami, Florida (Sept. 11 & 12 & Sept. 15 – 17 Only)

· North Dade Justice Center
15555 Biscayne Blvd., Room 100, Miami, Florida (Sept. 11 & 12 & Sept. 15 – 17 Only)

I’ll follow up with another post to provide more info about getting ready for an appeal, but for now, get the application in!

Spoken by Maggie Dokic | Discussion: No Comments »

Housing Stimulus Bill Summary

July 31st, 2008 Categories: For Buyers, For Sellers, Real Estate Chatter

I’m going to catch some slack from my blogging colleagues on this one. That’s because I’m reprinting an article in it’s entirety. What a faux pas! But for time’s sake, I opted for that this time. This issue is too important and I don’t have the time for a full-fledged analysis of it but still want to make my readers aware of what’s going on. I do hope to blog soon about the fact that this bill ELIMINATES in it’s entirety down payment assistance programs and I don’t agree with the change. But for now, without further ado, I present you the National Association of REALTORS®’ take on the Housing Stimulus bill:

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Spoken by Maggie Dokic | Discussion: 4 Comments »

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