Mortgage Rates Report

What a mess!  Stinks does not come close to addressing this lawsuit. Why is it the real estate Associate continues to be the blame for the market trends. What is prevelant is how the buyers and the sellers expectations continue to expect such a high standard from their Associates and why?  Why is it the Associates are accountable for the market?  In California alone, it is appauling at the pricing structure. The consumer has made this possible and viable due to demand and location. We, being the consumer should be fully aware of market trends, when you are investing 200 an acre or 1million an acre, why do we the consumer purchase. Well, it is simple, it is because they purchased based on "want" and no matter what a buyer representative gives a consumer every single bit of information available for that property or "not", we can not "twist the arms" of these consumers. Believe it or not, I have never twisted my clients arm as a real estate Associate. As a matter of fact, I can show you testimonials from clients that I nearly begged them not to purchase and have had clients sign documents to state, I did in fact idenitify issues. Such as we view a property in their criteria, that they gave me. We view these properties and low and behold here is one, why didn't we see it?  Well, it is most likely out of the price range and other critieria given to me.. Client states, "let's just look at it", well, guess what...?  The client loves it, and now here we go..it is out of their price range, larger, which means more utilities, and so on.... What am I the Associate suppose to do?  They insisted, okay, here we go.. Who is liable when they can't meet the mortgage each month?  Who is liable when the utilities aren't paid..?  Now I had a great rapport, with all said and done.. they "wanted" without doubt this property.. Human nature is: we want what we can't either afford or simply more and we as consumers are willing to pay for it.. On the Sellers side.. think about it?  You want all you can get from your property, no matter the location.  Most seller when I approach them are not willing to have an inspection up front, bad idea.  Most sellers want more, yet are they willing to sacrifice and tell us what all that property needs?  No, we want it because the neighbor down the street got 1.2 million last year.. This is a pet peeve of mine!  No property is the same,.. no property has been lived in the same!  How can a Seller expect so much?  Where does this all stop, who is liable for the clients emotion?  As a real estate professional, we are always held accountable, to the point of which, maybe we need to start carrying a tape recorder around and say, Wait, we can't discuss what you want or negotiate till it is all on tape?  This is nuts, pure and simple. We cannot tell anyone the price we can only suggest. No matter what the client states, we the real estate professional is accountable.  Why? It is illegal to give a price of a property, as well as telling a buyer what to ask for a property. We can only determine where the prices are based on the market trend. Today, we won't know the full result of this market trend for another quarter. How is it this fellow Associate is being accountable?  Why is it, that as a Real Estate Professional he is accountable for the pending contract, that we do not have access to until the closing of that property? This is crazy! It doesn't matter how much money you have, it doesn't matter how smart you are, the industry whether in banking or real estate has professionals. In all industries we have Associates that are not willing to do their homework, however, there are several mortgage companies that provide misleading information to the consumer. This is an unfair lawsuit based on purchasing in a down market, with respect to the client, what other properties did the Associate have in relationship to the purchase, their had to be more than one in comparison?  What have they brought to the table? This is merely a sign of what is yet to come. However, the public must understand the Real Estate Professional works hard for a mere 1-2& of this transaction. The Real estate professional works toward the clients goal. Many clients have been known for misguiding the Associates as well. Who is accountable then? After a transaction is complete, that client lives in the property, meets with the neighbors and all kinds of "stuff" can come to surface, un-beknownst to the Associate, yet who gets the blame?  The realization is, no one wants to hear or accept the responsibility of what was told to them. They have made up their minds to purchase, we as real estate professionals cannot force a client to do anything they don't want.  Ultimately, accepting responsibility for their own actions would be nice without passing blame. These clients had a choice and they made it.. Now they must face it and move on.. Leave this Associate alone, he could not of known.. Now, the spin on this is if their are any pending properties for sale.. wait till they are closed, (if they close) and see if the clients really want this property?  Get real, when someone wants something they are going to get it.. that is life and that is the emotion behind this purchase. Nothing he could of said would of changed their minds on this property..!  Best of Luck to all of us in real estate!