Squalor, crime follow wave of foreclosures [Women and children hardest hit]

http://www.msnbc.msn.com/id/21773482/ ^ | 11-13-07

[riverdawg]

If the agent is a buyer’s broker/agent and there is no racial bias involved (e.g., the neighborhood is not predominantly black or, if it is, the client is black), I don’t see anything wrong with the agent’s advice. In fact, I would walk away from any agent who didn’t steer me away from a troubled neighborhood. Anyway, redlining refers to the practice of mortgage lenders refusing to issue mortgages to certain neighborhoods or areas because of the racial mix. It is not against the law to refuse to lend money to buy a property that the lender thinks may decline in value, thus jeopardizing the collateral.

[Ouderkirk]

Obviously it is not priced below market or it would be sold. The current market is significantly below the asking price and it is that simple !

Price it to sell, and it will.

[RobRoy]

>>If he/she uses those words, their real estate license should be in jeopardy.<<

Yep.

My motto:
Never write what you can say.
Never say what you can whisper.
Never whisper what you can nod.
Never nod what you can wink.
Never wink what you can smile.

I think the agent should have just smiled in this case.

[BBell]

Can you explain to me why a real estate agent telling their client that a neighborhood is bad is wrong?

[BBell]

“Smith, the vice president of Westview Community Organization Inc., keeps a map of the area, tracking each vacant property and notifying local officials when criminal activity is suspected.”

At least Mr. Smith is trying to keep his neighborhood up. We need more citizens like him. Good for him.

[Old North State]

Most of this sub-prime mortgage problem is a consequence of the Clinton sponsored ‘Fair Credit’ laws that strong armed lenders into granting real estate loans to otherwise unqualified minority applicants. The banks are complicit because they jumped on the bandwagon for the higher premiums they were allowed to charge for loans they should never have made, but most of the culpability can be laid at the feet of the Clintons and the race-baiters.

[RockinRight]

I honestly see nothing wrong with that. I mean, someone has to know they live in a sh*tty neighborhood, don’t they?

[captnorb]

You are right. Any responsible person would look out and advise clients of potential danger......Just carry around police reports for particular neighborhoods and discuss as a matter of conversation with the client.....The feds can go jump.

[DCPatriot]

I'm not saying that you shouldn't put your client's interests above all else.

I'm saying that you can come out and say it in that manner.

We're not even supposed to give opinions on crime statistics or school performance. We are to give them the phone numbers of the police or local Board of Education.

Of course there are many, many ways to keep your client away from neighborhoods, but you can't steer them.

[RockinRight]

That said...people know that Howard and Montgomery Counties have good schools...PG County schools suck, and crime is higher in Landover or Langley Park than it is in Frederick or Bethesda.

[newbie 10-21-00]

If it hasn’t sold, it’s not below market

[patton]

I am in the market to buy a new house.

Ping me if you want to give one away.

Specifics - within walking distance of ODU. 3 or 4 bedrooms.

[WhyisaTexasgirlinPA]

But if you were new to an area, as we were moving to Pennsylvania, you could be clueless about neighborhoods. (This was before I could find anything I wanted to find on the internet!)