Plus it’s sad to see all of the listing agents trying to show us “other” houses while we are standing in the house they are trying to sell for a client (some have actually tried to give us MLS listing for OTHER homes in the neighborhood).There are no Zip Realty franchises in the Charlottesville/Central Virginia region (here are the Richmond Zip agents), so first-hand knowledge is hard to come by…. From the fine print on Zip Realty’s site:Occasionally, the seller and/or listing broker in a transaction will offer the broker representing the buyer a bonus or other additional incentive over and above the cooperating brokerage commission. Any such bonuses or other additional incentives are separate and apart from the cooperating brokerage commission actually received by ZipRealty and buyer is not entitled to a rebate on any bonus or other additional incentive monies paid to ZipRealty over and above the cooperative broker commission.This clause alone makes me distrust their model…. Transparent.After reading the question a couple of times, the question is less about whether Zip Realty is “worth it” and more whether Realtors are worth it, and why this reader’s perception is that listing agents (and agents in general) just don’t listen to the client’s needs.There are too many what-ifs and unknowns (if I’m wrong, please enlighten me).
Date Archives October 2007
Monday links 08 October 2007
I feel more connected to Charlottesville and “hipper” just by reading this blog every day.Cvillrail gets an endorsement from Charlottesville’s City Council. What this means, who knows.I’ve just crossed the 20k mark, while ProBlogger has passed 2 million. Thanks to Askimet.There’s a hugely important Albemarle County Board of Supervisors meeting on 10 October that will be absolutely crucial.That makes Wednesday’s hearing on proposals that would curb development on steep slopes and near waterways, as well as toughen restrictions on what residents can do when constructing a home for a family member, that much more intriguing. It’s unclear whether the proposals have more support one way or the other, but supervisors face a hefty decision in the last major vote before the Nov.
Print? What’s that?
Jonathan has the answer.From a consumer standpoint, sellers ought to examine with a critical eye any agent who points to their newspaper classified ads or, worse yet, their glossy real estate magazine page as the cornerstone of their advertising. The rest of us have said for ages that these agents are advertising themselves and not your home, though your home is one of the vehicles used in the ad.More on why I don’t use print on Thursday.
Upcoming this week on RealCentralVA
I’m trying something new this week – I’m going to try to have some sort of schedule for posting.Tuesday, I’ll attempt to answer this question:What is your opinion of agencies like Zip Realty (ziprealty.com) particularly in representing the buyer?Wednesday – market statistics for Central Virginia for September.Thursday – Why print advertising is worse than worthless.Friday – something will likely present itself. Likely a resumption of the Neighborhood series.
Three thousand square feet
That could be the threshold after which homeowners start to lose their mortgage interest deductibility…. Dingell’s bill would:Phase out the mortgage interest deduction on large homes. These homes have contributed to increased sprawl and longer commutes. Despite new homes in and of themselves being more energy efficient, the sheer size, sprawl and commutes lead to dramatically more energy use – or to put it more simply, a larger carbon footprint.He has a point.Specifically, the proposal:Phases out the mortgage interest on primary mortgages on houses over 3000 square feet.Exemptions for historical homes (prior to 1900) and farm houses.Exemptions for home owners who purchase carbon offsets to make home carbon neutral or own homes that are certified carbon neutral.An owner would receive:- 85% of the mortgage interest deduction for homes 3000-3199 square feet- 70% for homes 3200-3399 square feet- 55% for homes 3400-3599 square feet- 40% for homes 3600-3799 square feet- 25% for homes 3800-3999 square feet- 10% for homes 4000-4199 square feet- 0 for homes 4200 square feet and upFor a summary of the bill, go here.Hmmm3,964 single family homes have sold in the region* since 1 January 2006.
Community Forum on Lending – Why do African Americans pay more in Central Virginia? Part 4
None of the loan officers in attendance, as one observant participant noted, included any “brown faces.â€As our Realtors are typically the gateway to home ownership, Charlottesville Area Association of Realtors should play a large part…. Now is the time to start the public discourse, find out where we agree, compromise where we don’t and shine the light on those who are reluctant to improve our industry’s practices.Congress has several bills under consideration right now…. I’m not claiming to be a saint, mind you, I’m just glad that our company’s vision, which encourages all clients to be treated fairly and equitably, actually was met.Finally, loan officers need to involve ourselves in our community. We must get out of our comfort zone and meet people who are unlike ourselves, either because of race, national origin, age, marital status, sex, color or any other of the traits that differentiate us. We should forge relationships in Charlottesville that will benefit all.
Community Forum on Lending – Why do African Americans pay more in Central Virginia? Part 3 of 4
If communities can share in the knowledge base (remember, many African Americans do not have parents that have owned a home), understand that they can seek out additional loan options and fully understand the loan product that they are considering, the individual members will make wise decisions…. As much as Alex Gulotta would like to credit for pushing for licensure of loan officers and brokers (By the way, Alex, brokers are licensed, requiring experience level among its owners, must pass an oral exam and be examined by the Commonwealth every 18-24 months), Central Virginia Mortgage Professionals (CVaMP) is way ahead of you…. In that case, he or she is prohibited from telling the appropriate agency, whether it is Housing and Urban Development or Veteran’s Administration or Freddie Mac or Fannie Mae about the violation.Finally, many states are enacting a “tangible benefit†law…. Tomorrow I will list the action items that I will propose to our legislators, to Piedmont Housing Alliance and other community organizations, to the Charlottesville Area Association of Realtors, to CVaMP and to our own brokerage, Compass Home Loans.