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Midnight

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Posts posted by Midnight

  1. Mine didn't. She was actually up-front and mentioned before we got to them that a few houses were listed by the same agency, not even by her directly. Sounds like you need a better realtor.

    Too late! The offer we made was accepted by the seller, but then a few days later the seller's attorney objected to one of the terms of the offer. The realtor/agent had given us misleading information when we had asked specifically about those terms. Fortunately nothing really material was at stake and the deal is fine, but it ticked me off that a transaction that should have gone smoothly required us to get nervous, deal with our lawyer, etc. It wasn't necessary. You'd think after handling thousands of transactions this wouldn't be necessary. My wife (who hasn't gone through this before) said "It's like this is the first time they've ever done this. Nothing is standardized and anything different throws things into chaos."

     

    The other thing that ticks me off: The agent first blaming (and ridiculing) the seller's attorney. That's not the agent's business nor place. Then saying "Well, what do you care? You got a really great rate." As if that covers for the rest? I was lucky - but that does not absolve the other clowns involved in this.

     

    On the plus side: We have another house to sell (now) - and this realtor will not be listing it.

  2. Interest rates. Can someone tell me why mortgage rates when UP when the Fed lowered the rate to 1.5 percent?

    No. I'm not an economist (nor did I sleep at a Holiday Inn last night), but my understanding is that the Fed rate is for short-term cash loans made to businesses. While short and long term rates tend to go in lockstep, the relationship is loose, and exceptions are fairly common.

     

    $!^!$$!@$*((%! sub-prime bastards!

     

    This is probably the proper analysis. The mortgage market fluctuates on concerns about the long term ability of buyers to pay.

     

    I can't complain about the rate I locked in 3 weeks ago (local, small town bank). But I will complain about realtors. Do they all do just about anything possible (including lying) to get you to buy their listings?

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