Would You Sue Your Buyer's Agent?

There is an interesting article in the New York Times today about a buyer in California that is suing her buyer’s agent. Marty Ummel believes that her real estate agent hid information that similar homes in a neighborhood were selling for less, in order to keep a deal together and retain his commission. There are a lot of things at play here; the real estate agent was also the mortgage broker (which to me seems

More on Seller Concessions

Oh Lordy. That was my reaction when I read the title of the Hartford Courant’s front page article on Sunday, Truth About Home Prices. Most troublesome were the comments posted online by Courant readers. I could feel the venom oozing out of my laptop. It seems like there are a number of misconceptions out there about seller concessions. A few observations after reading both the article and reader comments… 1. The MLS covering the Greater

Farmington Valley Residential Year in Review

As a continuation from yesterday’s West Hartford 2007 residential real estate review, here is the data for the Farmington Valley. Again, all data is for single family homes only that were listed and transacted in the Multiple Listing Service. I’m also including the current inventory levels which indicate how the market is currently doing. Historically, 0-3 months of inventory is a seller’s market, 3-6 months of inventory is a neutral market, and 6+ months of

West Hartford Residential Year in Review

Everyone and their uncle seems to be offering their thoughts and predictions for the national housing market in 2008. Let’s take a look and see how West Hartford did when comparing 2006 to 2007. Because, as we all know, housing is local. This is not Phoenix or Vegas or Miami. All data was pulled from the Multiple Listing Service (insert the standard “deemed reliable but not guaranteed” disclaimer here…) and represents single family homes sales

Smart Buy on Prospect Avenue

One of my favorite houses on Prospect Avenue in West Hartford recently sold. I typically walk by it on a daily basis while walking my dog. Well, in July, it went up for sale. It was bank owned and being sold As Is, originally listed at $769,900, which was about $100 a square foot. Not bad considering that houses on Prospect Avenue typically sell for $150-$225 a square foot. I went to take a look