Poor buyers. First the prices were too high, then the interest rates were to high. Finally stuff started to make financial sense, and then they ran into too many buyers, not enough inventory….it’s enough to drive people to drink!
Now that things have sort of “settled out”, we’re facing another dilemma. Banks are having major difficulties processing loans in a timely manner. New, stricter guidelines have made a loan officer’s job into a calendar nightmare.
With the clients that I have that trust me to recommend a lender, I’m moving them to Master’s Team Mortgage out of Folsom. They are one of the very few that have kept up with all the new regulations and know how to get an escrow closed in the required time frame.
You are familiar with “buyer beware”, right? Well that term is especially important when you look for properties to buy and rent on Craig’s List.
It seems criminals have discovered how easy it is to convince someone that they can uncover “incredible” deals on the internet. The latest scam I’ve been dealing with on Craig’s List works like this. I list a new property for sale and soon afterward that home appears on Craig’s List as a “rental”. The thieves simply take my photos and home address and advertise a terrific rent.
Of course renters get excited and many rush out to “drive by” the rental. They suddenly get confused by the presence of a “for sale” sign and that’s when I get the phone calls asking about the home.
It seems that people will get so desperate to grab that great deal, that when they follow up on the ad, they will be advised that many others are interested and if they want to be the one chosen, they need to:
Supply personal info like bank statements and other financial documents.
Or:
Quickly wire a deposit amount to hold the property.
Of course you’re wondering why people would do that, but let’s face it. Who wants to see that great deal get passed up? It’s sad, but it’s important to find out factual information these days. Such as, who is the legal owner of the property? Why would an owner attempt to rent or sell a home if they are out of the area? (oh, we just moved to Europe and didn’t have time to get a renter in there…..)
Make sure you don’t get taken in by the scammers.
