[ucodegen]

After substantial prodding she admitted that the listing was an “in house deal”. When I said, oh you mean the buyer was represented by you or another agent in your office, she did not give a straight answer.

I suspect ‘in house’ was literally ‘in house’.. ie. someone from the brokerage bought it before the general public had a chance. This is why they were evasive on the followup question, and why it was on the market for such a short time. This type of behavior was rampant in the stock market of the 1920’s and helped cause the crash. The SEC was formed and one of the regulations they pushed had to do with broker’s fiduciary responsibility to their clients. The behavior of these RE brokers violates their fiduciary responsibility to whom they are representing the house. With the SEC, if a licensed stock/commodities broker breaks fiduciary responsibility in this manner, they can be held financially/criminally responsible. Unfortunately, RE brokers only have a ‘code of conduct’.. not much happens of they ‘violate’ this.

Personally, I think that the banks selling from the REO side should drop any broker who gets an immediate sale.. The banks should be watching their listings on the MLS.. and possibly have one of their reps spot check the process. A RE broker violates the trust and the bank can refuse to do any more sales through them.

[ucodegen]

After substantial prodding she admitted that the listing was an “in house deal”. When I said, oh you mean the buyer was represented by you or another agent in your office, she did not give a straight answer.

I suspect ‘in house’ was literally ‘in house’.. ie. someone from the brokerage bought it before the general public had a chance. This is why they were evasive on the followup question, and why it was on the market for such a short time. This type of behavior was rampant in the stock market of the 1920’s and helped cause the crash. The SEC was formed and one of the regulations they pushed had to do with broker’s fiduciary responsibility to their clients. The behavior of these RE brokers violates their fiduciary responsibility to whom they are representing the house. With the SEC, if a licensed stock/commodities broker breaks fiduciary responsibility in this manner, they can be held financially/criminally responsible. Unfortunately, RE brokers only have a ‘code of conduct’.. not much happens of they ‘violate’ this.

Personally, I think that the banks selling from the REO side should drop any broker who gets an immediate sale.. The banks should be watching their listings on the MLS.. and possibly have one of their reps spot check the process. A RE broker violates the trust and the bank can refuse to do any more sales through them.

[ucodegen]

After substantial prodding she admitted that the listing was an “in house deal”. When I said, oh you mean the buyer was represented by you or another agent in your office, she did not give a straight answer.

I suspect ‘in house’ was literally ‘in house’.. ie. someone from the brokerage bought it before the general public had a chance. This is why they were evasive on the followup question, and why it was on the market for such a short time. This type of behavior was rampant in the stock market of the 1920’s and helped cause the crash. The SEC was formed and one of the regulations they pushed had to do with broker’s fiduciary responsibility to their clients. The behavior of these RE brokers violates their fiduciary responsibility to whom they are representing the house. With the SEC, if a licensed stock/commodities broker breaks fiduciary responsibility in this manner, they can be held financially/criminally responsible. Unfortunately, RE brokers only have a ‘code of conduct’.. not much happens of they ‘violate’ this.

Personally, I think that the banks selling from the REO side should drop any broker who gets an immediate sale.. The banks should be watching their listings on the MLS.. and possibly have one of their reps spot check the process. A RE broker violates the trust and the bank can refuse to do any more sales through them.

[ucodegen]

The only procedure that I know of, that could be called torture, and works.. is sleep deprivation. It is hard to lie and keep a consistent story when you can barely focus because of sleep. I don’t see the other methods as being that effective.

PS: Maybe us working stiffs can call required heavy overtime hours to bring schedules in, as a form of torture?

[ucodegen]

The only procedure that I know of, that could be called torture, and works.. is sleep deprivation. It is hard to lie and keep a consistent story when you can barely focus because of sleep. I don’t see the other methods as being that effective.

PS: Maybe us working stiffs can call required heavy overtime hours to bring schedules in, as a form of torture?

[ucodegen]

The only procedure that I know of, that could be called torture, and works.. is sleep deprivation. It is hard to lie and keep a consistent story when you can barely focus because of sleep. I don’t see the other methods as being that effective.

PS: Maybe us working stiffs can call required heavy overtime hours to bring schedules in, as a form of torture?

[ucodegen]

The only procedure that I know of, that could be called torture, and works.. is sleep deprivation. It is hard to lie and keep a consistent story when you can barely focus because of sleep. I don’t see the other methods as being that effective.

PS: Maybe us working stiffs can call required heavy overtime hours to bring schedules in, as a form of torture?

[ucodegen]

The only procedure that I know of, that could be called torture, and works.. is sleep deprivation. It is hard to lie and keep a consistent story when you can barely focus because of sleep. I don’t see the other methods as being that effective.

PS: Maybe us working stiffs can call required heavy overtime hours to bring schedules in, as a form of torture?

[ucodegen]

uco post the address of the home and I can tell you what has gone on with it. Also just because it is 30% off from peak doesn’t mean it is priced well.

I don’t think it is priced well.. I think they need to take at least another $50k off. I also can’t give you addr because I live very close.. It could reveal who I am to neighbors. I do know that sales are going in on houses that are priced slightly below comps.. resulting in quick bidding wars which move the price up to equal or above recent comps. Whether these bidding wars result in a properly priced house can be debatable. Bidding wars are driven by emotion and while they result in the seller getting as much money for the property as possible, they don’t result in the best price for the buyer.

Also don’t confuse price or how far down a place is with a hot market. What I mean by a hot market is that there is alot of activity.

This, I disagree with. I consider it an active market but not a hot market. I don’t think that people selling their house and having to take a serious hair cut would consider it hot market either.

[ucodegen]

uco post the address of the home and I can tell you what has gone on with it. Also just because it is 30% off from peak doesn’t mean it is priced well.

I don’t think it is priced well.. I think they need to take at least another $50k off. I also can’t give you addr because I live very close.. It could reveal who I am to neighbors. I do know that sales are going in on houses that are priced slightly below comps.. resulting in quick bidding wars which move the price up to equal or above recent comps. Whether these bidding wars result in a properly priced house can be debatable. Bidding wars are driven by emotion and while they result in the seller getting as much money for the property as possible, they don’t result in the best price for the buyer.

Also don’t confuse price or how far down a place is with a hot market. What I mean by a hot market is that there is alot of activity.

This, I disagree with. I consider it an active market but not a hot market. I don’t think that people selling their house and having to take a serious hair cut would consider it hot market either.

[ucodegen]

uco post the address of the home and I can tell you what has gone on with it. Also just because it is 30% off from peak doesn’t mean it is priced well.

I don’t think it is priced well.. I think they need to take at least another $50k off. I also can’t give you addr because I live very close.. It could reveal who I am to neighbors. I do know that sales are going in on houses that are priced slightly below comps.. resulting in quick bidding wars which move the price up to equal or above recent comps. Whether these bidding wars result in a properly priced house can be debatable. Bidding wars are driven by emotion and while they result in the seller getting as much money for the property as possible, they don’t result in the best price for the buyer.

Also don’t confuse price or how far down a place is with a hot market. What I mean by a hot market is that there is alot of activity.

This, I disagree with. I consider it an active market but not a hot market. I don’t think that people selling their house and having to take a serious hair cut would consider it hot market either.

[ucodegen]

uco post the address of the home and I can tell you what has gone on with it. Also just because it is 30% off from peak doesn’t mean it is priced well.

I don’t think it is priced well.. I think they need to take at least another $50k off. I also can’t give you addr because I live very close.. It could reveal who I am to neighbors. I do know that sales are going in on houses that are priced slightly below comps.. resulting in quick bidding wars which move the price up to equal or above recent comps. Whether these bidding wars result in a properly priced house can be debatable. Bidding wars are driven by emotion and while they result in the seller getting as much money for the property as possible, they don’t result in the best price for the buyer.

Also don’t confuse price or how far down a place is with a hot market. What I mean by a hot market is that there is alot of activity.

This, I disagree with. I consider it an active market but not a hot market. I don’t think that people selling their house and having to take a serious hair cut would consider it hot market either.

[ucodegen]

uco post the address of the home and I can tell you what has gone on with it. Also just because it is 30% off from peak doesn’t mean it is priced well.

I don’t think it is priced well.. I think they need to take at least another $50k off. I also can’t give you addr because I live very close.. It could reveal who I am to neighbors. I do know that sales are going in on houses that are priced slightly below comps.. resulting in quick bidding wars which move the price up to equal or above recent comps. Whether these bidding wars result in a properly priced house can be debatable. Bidding wars are driven by emotion and while they result in the seller getting as much money for the property as possible, they don’t result in the best price for the buyer.

Also don’t confuse price or how far down a place is with a hot market. What I mean by a hot market is that there is alot of activity.

This, I disagree with. I consider it an active market but not a hot market. I don’t think that people selling their house and having to take a serious hair cut would consider it hot market either.

[ucodegen]

I’m beyond disturbed when my country violates international law, i.e. the Geneva convention and can somehow justify our actions.

It is interesting on how many people don’t read the Geneva convention and then accuse people of violating it. First and foremost, the Geneva convention is written to protect the citizens within the country where the battle is taking place. The protection afforded to the fighting forces is secondary. Parts of the Geneva convention relating to protections for the fighting force are bilateral, not unilateral. For example, we have fighting force ‘A’ and ‘B’. If fighting force ‘A’ violates the Geneva convention, than fighting force ‘B’ is no longer bound by it. This is what gives the Geneva convention some of its ‘teeth’.

The Geneva convention has prohibition on explicitly targeting civilians.. whuups.. that is exactly what Al Qaeda has done– multiple times. (Twin Towers and their own people in Afghanistan who disagree with them.. local tribal leaders.)

The Geneva convention prohibits use of civilian shields.. whuups again.

The Geneva convention prohibits fighting forces from concealing themselves with civilian garb (this is to allow the opposing force to discriminate them from civilians and not accidentally hit a civilian).. whuups again.

The Geneva convention prohibits either fighting force from forcing the civilians to conceal or protect them.. whuups again.

This is why, during the whole Al Qaeda and IRAQ scenario, the UN and NATO has been quiet. The Geneva convention is written primarily to protect the civilians.. not the fighting forces, from abuse. It is written because of what Hitler and his forces did to their own civilians.. including forced conscription of children (also against the Geneva convention) into a fighting force.

[ucodegen]

I’m beyond disturbed when my country violates international law, i.e. the Geneva convention and can somehow justify our actions.

It is interesting on how many people don’t read the Geneva convention and then accuse people of violating it. First and foremost, the Geneva convention is written to protect the citizens within the country where the battle is taking place. The protection afforded to the fighting forces is secondary. Parts of the Geneva convention relating to protections for the fighting force are bilateral, not unilateral. For example, we have fighting force ‘A’ and ‘B’. If fighting force ‘A’ violates the Geneva convention, than fighting force ‘B’ is no longer bound by it. This is what gives the Geneva convention some of its ‘teeth’.

The Geneva convention has prohibition on explicitly targeting civilians.. whuups.. that is exactly what Al Qaeda has done– multiple times. (Twin Towers and their own people in Afghanistan who disagree with them.. local tribal leaders.)

The Geneva convention prohibits use of civilian shields.. whuups again.

The Geneva convention prohibits fighting forces from concealing themselves with civilian garb (this is to allow the opposing force to discriminate them from civilians and not accidentally hit a civilian).. whuups again.

The Geneva convention prohibits either fighting force from forcing the civilians to conceal or protect them.. whuups again.

This is why, during the whole Al Qaeda and IRAQ scenario, the UN and NATO has been quiet. The Geneva convention is written primarily to protect the civilians.. not the fighting forces, from abuse. It is written because of what Hitler and his forces did to their own civilians.. including forced conscription of children (also against the Geneva convention) into a fighting force.

[Author]

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