4 minute read
Inside the Industry – Beyond Murphy to Manteo
from Insight | May 2012
by NC REALTORS®
‘Storm Scammers’ are Preying on Homeowners
Following a violent storm or tornado, homeowners are left to pick up the pieces and find ways to put their homes back together. And insurance executives and legislators are warning storm victims to beware of contractors who try to get homeowners to sign costly contracts before the insurance adjusters arrive. These insurance executives are being dubbed “storm chasers” or “storm scammers” who offer quick, costly deals to desperate homeowners, according to the USA Today. As a result, several states have already passed legislation to protect homeowners after storms.
Couple Gets Spooked From House, Sues Landlord
A Toms River, N.J., couple is suing their landlord, claiming the home they are renting is haunted. The couple – which moved out of the house a week after moving in – says they heard voices inside the home and that they witnessed flickering lights, clothes flying from closets, doors opening and closing, and “taps on the shoulder,” according to ABC News. The couple says they hired paranormal investigators who recorded some of the activity from infrared cameras. The couple is suing their landlord in New Jersey Superior Court, seeking the return of their $2,250 security deposit.
Canadian Agents Call for ‘Drug House Registry’
A group of Canadian real estate professionals located in the Saskatchewan province are calling for the creation of a housing registry that lists homes once linked to drug use. According to the agents, buyers need to be warned about homes formerly used as meth houses, marijuana growing operations, or having other such criminal pasts. The real estate agents say it is their responsibility to warn buyers about such homes, but details can be missed — particularly as homes change hands multiple times.
Man Gets 75 Years in Prison for Agent Assault
A Great Falls, Mont., man was sentenced to 75 years in prison after pleading guilty to sexually assaulting a real estate agent last spring while he posed as a buyer as the agent showed him a home. The judge, calling the crime a “heinous and terrifying event,” passed down one of the strictest sentences, saying the evidence overwhelmingly showed Bradley Joseph Crisman’s crime was premeditated. Prosecutors showed during the trial that Crisman had profiled six female real estate agents in the area and had posed as a homebuyer in several incidences before assaulting one agent a few months later.
California Lawmakers Oppose REO Program
About 20 California congressional lawmakers have joined forces to urge the Federal Housing Finance Agency to not conduct a realestate owned (REO) pilot program in the state, arguing that it would harm the state’s housing recovery. The FHFA launched an REO sales program in February, in an attempt to unload the high inventory of foreclosures held by Fannie Mae and Freddie Mac through bulk sales to investors. California holds the highest number of Fannie Mae’s REO inventory, with nearly a quarter of its REOs located in that state alone.
HUD: Pregnant Women Reimbursed by Banks
The Department of Housing and Urban Development announced that two banks will reimburse women over allegations that the banks denied the women mortgages because they were pregnant or on maternity leave. Magna Bank has agreed to pay one woman $14,085 over allegations it allegedly required her to return to work before agreeing to approve her mortgage application. Home Loan Center also has agreed to pay a woman $15,000, stemming from claims that the bank denied her refinancing application because she was on maternity leave, HUD announced.
A Year Later, Still No Suspect in Agent Murder
Police continue to look for a suspect and search for more clues in the killing of a 27yearold, West Des Moines, Iowa, real estate agent in a model home nearly a year ago. Police announced recently that a reward has doubled for clues leading to an arrest, increasing from $75,000 to $150,000. Police said in a statement that they hope the increase in the reward amount will encourage someone to step forward with more information. Ashley Okland, an agent with Iowa Realty Co., was found shot at a model townhome on April 8, 2011. Since then, police have investigated more than 700 leads but have made no arrests in the case.
More Real Estate Associations Join Forces
More local REALTOR® associations already have, or are increasingly weighing, consolidation of their groups into one larger association as a way to maximize benefits for members and decrease operating costs. Associations in Chicago last year – the Mainstreet Organization of REALTORS® and the REALTOR® Association of NorthWest Chicagoland – merged to form the fourthlargest REALTOR® association in the country. Earlier this year, more REALTOR® associations teamed up and two more real estate boards in Northeast Ohio are reportedly considering a merger, the Cleveland Area Board of REALTORS® and the Akron Area Board of REALTORS®.
Real Estate Ads ‘Hijacked’ Online in Scams
Scammers are increasingly taking actual online listing ads of homes for sale from real estate agents’ sites and reposting them on sites such as CraigsList as rentals, duping a growing number of renters. Usually scammers repost the forsale listing as a rental and ask wouldbe renters to wire a deposit and advance rent to secure the rental. The scammers usually claim they can’t be met in person because they are out of the country working as missionaries. They also sometimes tell the wouldbe renters that the real estate agent who was handling the property was fired so they should disregard any signs posted in front of the house with the agent’s information.
First-Time Buyers Become Reality Stars
Better Homes and Gardens Real Estate has launched a new online and TV reality series starring firsttime homebuyers on the house hunt. The series, “Home, First Home,” launched online at YouTube recently. It will also air nationally on the syndicated show “The Better Show” in 150 markets across the country until June. The series offers viewers an “opportunity to share in the joy of purchasing a home, while learning about the many steps involved in achieving this milestone,” says Sherry Chris, presi
