Realty Viewpoint: When Free Ads Aren't A Bargain For Consumers

by Blanche Evans

Some consumers using Craigslist classified ads to find bargain rentals are getting a nasty surprise. Phony landlords are collecting security deposits and first month's rent. When the renter shows up ready to move in, they find their new keys don't work or that the property is occupied.

Thanks to a blogger named Trench Reynolds, these stories are being collected on Craigscrimelist.org, with links to the original media reports for verification.

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Source: Realty Times

SMART HOA Mediation

by Richard Thompson

While conflict is inevitable, we do have choices about how we are going to deal with it. When handled in a constructive manner, conflict can be a catalyst for new awareness, new understanding, creative solutions and enhanced relationships. However, we don't always deal with conflict in a constructive way and sometimes don't deal with it at all. Conflicts rarely get better with time. Here are some SMART suggestions for how to deal with conflict the next time it arises.

Source: Realty Times

Pending Home Sales Rise, Buyers Tap Housing Provisions

RISMEDIA, August 8, 2008-Some improvement is projected for existing-home sales in the months ahead, with broader gains seen by the fourth quarter as buyers take advantage of new provisions provided through the recently passed housing stimulus bill, according to the latest forecast by the National Association of Realtors®.The Pending Home Sales Index, a forward-looking indicator based on contracts signed in June, rose 5.3% to 89.0 from a downwardly revised reading of 84.5 in May, but remains 12.3% below June 2007 when it stood at 101.4.

Lawrence Yun, NAR chief economist, said sales have been in a pattern of rising and falling within a fairly narrow range. “The vacillation of data from one month to the next indicates a housing market in transition,” he said. “The rise in pending home sales was broad-based with all four regions showing gains. This is welcome news because a rise in contract activity is necessary for an overall housing recovery. With a tax credit now available to first-time home buyers, increases in home sales could be sustained with the momentum carrying into 2009.”

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Scottsdale condo conversion market hits wall

The Arizona Republic

by Peter Corbett

SCOTTSDALE - Anybody want to buy a condo conversion?

Not so much.

Three years ago, Montecito Property Co. LLC boasted of selling 316 Scottsdale condominiums, converted from apartments, in less than four hours for a combined $60 million.

Now, only 80 Scottsdale condo-conversion units sold in the first four months of this year, according to Shaun McCutcheon, a senior analyst of the Sullivan Group Real Estate Advisors.

That is down from 340 sales for the same period a year ago.

The good news is that the median price of $240,000 is up nearly 5 percent.

Not that new condominium sales are any better in Scottsdale.

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New eateries flock to revived Scottsdale downtown

Disclose, Disclose, Disclose

by Broderick Perkins

Sure it can be frustrating, exhausting and time-consuming to sell a home in some markets, but don't try to cut corners by failing to make the proper disclosures.

Not only is it illegal for you and your agent not to disclose certain material facts that can affect the value, desirability or salability of a home, most savvy buyers will quickly walk away if he or she suspects deceit.

If you lie by omission and get caught, not only can you face both local and federal charges, you'll still have a home to sell in a less-than-hospitable market. The extra time to sell your home and your day in court could stigmatize the property.

Source: Realty Times