Darla Jensen

There's so much hype right now with the tax credit deadline nearing. I'm curious if (A) you think the first time home buyer tax credit should be extended, and (B), Why? Also, does anybody know when we will find out if there is going to be an extension?

The wonderful "Information Request" came through on my website. Looks like this is a great opportunity to assist a prospective buyer in finding this family's dream lake home. YEAH!

Mrs. Buyer did an excellent job giving me information as to exactly what they are looking for. It didn't take long for me to realize that they were just beginning their search (or so I thought) because the criteria didn't quite fit the price range they were aiming for.

I explained the process, which was looking at several lake homes together so they would become educated on today's market value of lakeshore properties. I also told her she may be disappointed with the "structures" on the land with hard sand, gradual elevation, etc. because that price range is going to buy the land, and not much of a structure. The beautiful newer lake homes we were going to see would be on smaller lakes with less desired shorelines and elevation.

She was obviously getting upset because by the 3rd or 4th lake home, she wouldn't even talk to me. I heard her tell her husband that I wasn't showing them anything she wanted to see. And then I heard him tell her that they've looked at hundreds of places and "I don't know how many Realtors..."

There have been many times I've taken buyers out, knowing they need the "education". They eventually realize sandy shorelines with gradual elevation on a larger chain of lakes is quite valuable.

The home is new construction, however, has been vacant and closed up for 3 years. Buyers rarely request radon inspections in this area because of the sand soil. EPA Guideline is 4 and below in order to pass inspection.

The inspector mentioned an air exchanger would most likely get the radon level under the desired reading of 4. Most people I've talked with feel the reading is going to be higher because the home has sat vacant for 3+ years. There was also a pipe in the ground which was meant to be used for laundry hook-up in the lower level and had not been capped.

Any opinions or similar situations you may have are appreciated!

We haven't seen much of this strategy, until recently. This particular property is being marketed at 1/2 of "market value". The traffic is steady and offers are coming in. It will be very interesting to see what this property actually sells for. This is "bank owned".

All inspections have been satisfied and completed, contingencies have been removed. We have the "clear to close" from Mortgage.

At the closing table, the call comes in that Underwriting has now rejected the mortgage due to one of the buyers giving two weeks notice at their place of employment. Her salary could no longer be used on the application and they no longer qualified for the loan.

In this transaction, I represented the seller. We may assume buyers know better than to do something like this, however, in this market we cannot assume anything. The house is back on the market, and the buyers lost the home they fell in love with.