Oakland, CA

Don't miss Uptown Unveiled! this Thursday, June 18, 2009 from 5-10p. You can view the full program/lineup here.

25 bands on three stages. Art everywhere. Restaurant specials. Skateboard contest. Poetry Slam & more!

There are great things happening in Downtown Oakland these days, come and see how this great community is developing.

Well it has been a while since my last post. Just took a trip to Washinton DC for vacation and family time. Places and Spaces was taken at 30,000 feet during that excursion. I thought it would be a nice post just by itself.

It is always nice to go away even if it is for a short time. The thing I enjoyed most about my trip was dinning. Georgetown has some fabulous restaurants not to mention the shopping. Atlantic seafood and fish is like no other. I ate bluefish, and had atlantic swordfish, just mouth watering. Very upscale and fashion conscious so of course I shopped also. DC weather is very humid compared to the eastbay which is where I am now.

So was it a bit of R & R? Yes it was and we all need that every now and again. I love real estate because you can take that vacation whenever you like. If I had a JOB, I'd have to request the time off.....I really don't think so.

So now it's time to get back to work. The market is slowly buzzing with rates steady, but prices are down, foreclosures are up and the water is just fine. So get in the game, buy a house, or some land, refinance your existing mortgage.

If you cant get in the game, find a new job or career, save, continue your education enjoy your life until you are ready.

It's never fun to deal with an agent whose action is giving us all a bad name.

My client's offer was accepted on a two-unit building. The plan was for he and his wife to live in one, and rent out the other. This is their first home, and they have limited funds. Which is why it made sense to get an owner-occupied duplex.

Because the market is heating up in the under $300K price range for a duplex, we were happy to get accepted.

PROPERTY WAS MISREPRESENTED

The first time we were at the property, we saw that there are two separate living spaces. Or so we thought. But on our second visit, we realized that the bath in the second unit was only a partial bath, and didn't even have a shower, which makes it not a legal second unit.

Because it isn't a duplex per the MLS, and because we couldn't get the loan approved for this as an owner-occupied duplex, my clients elected to back out of the contract. We didn't clear any contingencies, so we were within the timeframe to cancel the escrow.

CANCELLATION OF ESCROW

That was two weeks ago since I sent the cancellation request. I have emailed, texted, voice-mailed the agent who still hasn't given us the cancellation signed by the seller, so we can't get the escrow cancelled and my buyer's deposit back.

Yet, he has already put the property back on the market as active, without the signed cancellation.

$1000 CIVIL PENALTY

In our cancellation instructions, it states that "A party may be subject to a civil penalty of up to $1,000 for refusal to sign such instructions if no good dispute exists as to who is entitled to the deposited funds."

My broker has gotten involved, and gave the agent 48 hours to respond or subject himself and/or his client to the civil penalty of $1,000. And still no answer.

THIS AGENT IS BAD, BAD, BAD!

I know there's going to be a resolution to this, eventually. But what infuriates me is that this is the kind of agent who gives our profession a black eye.