2010 May | What Brokers are Saying about Real Estate and Exclusive Buyer Agents

Buyers Market in Denver

By Julie, on May 26th, 2010

300+ days of sunshine and a great place to enjoy nature. Nice revitalized downtown and many neighborhoods offer a wonderful family setting and good schools. One of the most dense areas in the country for post-high school educational institutions including University of Colorado at Denver, University of Colorado at Boulder, University of Denver, Metro, Regis, Red Rocks and numerous community colleges.

The current median sales price for homes in Denver CO as of Feb 2010 was $175,000. This represents a decline of 2.8%, or $5,000, compared to the prior quarter and an increase of 29.7% compared to the prior year. Sales prices have depreciated 14.2% over the last 5 years in Denver.

A quick fact about Denver: It had a theater before it had a school or hospital. In the Denver Metro area there are over a dozen theatre venues available. From the Denver Center of Performing Arts which offers astonishing facilities, backstage tours, acting instruction, professional theatre and Broadway shows to the Adams Mystery Playhouse, great for holiday or birthday parties, coworkers get together and first dates.

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(435 words, estimated 1:44 mins reading time)

Mark Udall Passes Credit Score Bill

By admin, on May 20th, 2010

Per a letter from Mark Udall “Earlier today, the Senate passed my amendment to the Wall Street reform legislation currently on the Senate floor. This bipartisan amendment will put consumers back in control of their own financial information by allowing them to get their credit score…for free.

Today, the system is stacked in favor of banks, credit card companies, and other lenders or businesses with ready access to your credit score that you don’t have. While you have access to free credit reports, they don’t provide you with the single most important piece of information to a lender when determining your creditworthiness: your credit score. Instead, your credit score is only available if you pay and sign up for expensive, hard to understand monthly subscriptions.

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(309 words, estimated 1:14 mins reading time)

Exclusive Buyer Agent

By Julie, on May 7th, 2010

An exclusive buyer agent (EBA) is an agent or broker who represents only buyers of real estate. EBA firms do not have seller listings and they never represent the seller in a real estate transaction. There is a conflict of interest when a real estate firm represents the buyer and seller in the same transaction.

In the late 1980’s and early 1990’s, there was a rise in the number of exclusive buyer agencies. Now there are EBA’s in almost all of the 50 States.

In the United States real estate firms can represent both buyer and seller in the same transaction. When that takes place, the firms derive profit from both the seller and buyer sides of the transaction. EBAs do not believe it’s possible to simultaneously represent clients with opposing interests. Also, some states consider this practice to be illegal while others allow it.

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(174 words, estimated 42 secs reading time)

Markets around the Country

By Julie, on May 7th, 2010

“Homes in Sioux Falls are on the up swing and the market looks good. Should a great year.” Says an ABR located in Sioux Falls, SD.

Per one EBA in New Hampshire: She is still busy with clients, even after the tax credit has expired. In the southern area of New Hampshire prices continue to climb steadily, a more reasonable growth than in the past. She’s urging clients to buy now before the interest rate increases at the end of the year. Although it’s not believed to climb higher than 6%.

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(296 words, estimated 1:11 mins reading time)

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Mark Udall Passes Credit Score Bill

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