Sparks flames out: a lesson on positive real estate cashflow

David Richard Sparks is going to prison. I first wrote about this realtor last June in Orange County realtor lied to clients, stole their money, and admitted to massive Ponzi scheme. According to his confession, he forged bank documents, used non-existent escrow companies, provided bogus status updates and falsely reported significant profits. Victims said if they did not want to reinvest their money with him, Sparks made up excuses for why he could not give it back. He’s quite a piece [Read More...]

 
realtors fighting against losing commissions on REO rentals

As most regular readers know, I believe the National Association of realtors frequently tells self-serving lies. They try to portray their actions as serving the market or the interests of loan owners, but their first priority is themselves and generating commissions. When the interests of the market are in conflict with the self-serving interests of realtors to generate commissions, the statements and policies of realtors will always favor their own interests. Today’s article is a clear example of their narrow, [Read More...]

 
NAr reaffirms they have no credibility by reporting false increases in sales

It’s no secret that I don’t particularly like the practices of the NAr. They consistently embarrass themselves and their members by putting out false and misleading data and press releases. Credibility comes from telling the truth, even when that truth may be unpopular or contrary to one’s own interests. The NAr has consistently lacked credibility as they have proven unwilling to say anything negative about the prospects for real estate despite a massive decline in sales volumes and resale prices. [Read More...]

 
realtor flop in San Juan Capistrano

Today’s featured property was emailed to me by a reader who thought it suspicious. It was listed at well under its comparable market value, and it went pending immediately. This reader contacted the listing agent what the pending price is, and he was told $1,000,000. He followed up by asking if he could submit a backup offer for more than $1,000,000. What do you think the listing agent said? A scrupulous listing agent looking out for the best interest of [Read More...]

 
realtors losing people, losing income, losing homes

This is a miserable time to be a realtor. Over the last five years, 21% have let their licenses lapse, total commissions are down over 40%, and 12% of realtors have reported losing homes. It’s hard to feel too sorry for many of them. This is the same crowd that pushed homes on people as great investments in 2006. Conditions may be tough on realtors, but it has been more tough on their bubble-era clients. 1 in 5 gave up [Read More...]

 
realtors admit they blew it, revised data coming 12-21

The National Association of realtors has a credibility problem. Everyone already distrusts them because the sales techniques they advocate rely on falsehood and manipulation to cajole buyers into closing deals. But their problems go deeper than that. The association provides market data which purportedly is objective, but it certainly appears as if they manipulate this data to make the market look stronger than it is. Is this an “honest” mistake? Back in February I noted that the National Association of [Read More...]

 
Floppers: realtors who profit by ripping off their lender clients

I first covered the flopping phenomenon a few months ago in Flopping: unscrupulous realtors deceive lender clients and profit from fraud. Apparently, the occurrence is common enough the story is gaining traction in the mainstream media. The main reason I am covering it again is because a reader posted a property that looks like a particularly egregious case of flopping. I’ll let you decide. More short sales bring new scam: flopping In ‘flopping,’ a home is purchased by insiders at [Read More...]

Aug 292011
 
Champions of Home

Anyone who has ever done any self promotion knows how difficult it can be. The little voices of doubt inside work to keep you down. “You’re not that good.” “You don’t know what you’re doing.” “You can’t succeed.” When those voices become a paralyzing distraction, you need to go look in the mirror and say, “Hot damn, I’m great.” California realtors have launched a new promotional campaign. To judge by the videos they produce, you would think they are great. [Read More...]

 
OCAr capitulates: IrvineRenter wins epic victory for free speech

Back in early June, the story broke about how OC realtors seek to silence free speech by accusing IrvineRenter of lying. It set in motion a chain of events which ended in OCAr’s dismissing the accusations last week. Events that shape your life Certain events and experiences in life can greatly alter your thinking, your actions, and your destiny. When I was in my first year of junior high, I used to walk over with my friends to a nearby [Read More...]

 
Flopping: unscrupulous realtors deceive lender clients and profit from fraud

There is a new scam in real estate that can only be accomplished by an agent, most often a realtor because most real estate agents are realtors, but there are likely some independent brokers caught up in this as well. The realtor must shirk their fiduciary responsibility to their client and knowingly tell lies to that client, usually a lender but sometimes a short-seller, to get them to sell property for less than it’s really worth in the market in [Read More...]

 
OCAr fails to explain charges, demands IrvineRenter’s silence

The little people behind the complaint against me obviously want to silence my free speech. Their latest response letter demanded my silence, and failed to explain the charges against me. Again, they seek to suppress free speech and circumvent due process like a communist regime. Why is OCAr so insistent on silencing free speech? Do they really believe if I stop telling uncomfortable truths that people won’t be wise to their games? Is my voice so powerful and my message [Read More...]

 
OC realtors seek to silence free speech by accusing IrvineRenter of lying

The Orange County Association of realtors is after me. They claim I am a liar. Today, I will present the facts and let you decide. Realtors go after blogger who says they lie June 6th, 2011, 12:00 pm — Marilyn Kalfus, real estate reporter The Orange County Association of Realtors has filed a grievance against an Irvine real estate broker who writes a blog that takes critical looks at the housing crash, homebuyers and real estate agents. . Larry Roberts, [Read More...]

 
More self-serving bullshit from the National Association of realtors

One of the most life-changing spiritual lessons I have learned (and continue to relearn) is to constantly raise my standards. For example, when I look back on the quality of my daily posts on the IHB, I have consistently raised my standards for accuracy, completeness, and consistency. I work diligently to improve the reader experience by simultaneously educating and entertaining. I have done many things in my past that I am not proud of. I don’t spend much energy beating [Read More...]

 
The OC Register Says California had no real estate bubble

Really biased and misleading crap is common on realtor blogs, which is why nobody reads them. When realtors are allowed to post their bluster as news on the OC Register, many people take it as information rather than indoctrination. It soils the OC Register when they permit this. Published: March 7, 2011 Updated: 5:25 p.m. California had no real estate bubble MIKE COTTER Mike@MCotter.com Nearly everyone accepts as fact the perception that California real estate prices “skyrocketed” into the stratosphere [Read More...]

 
National Association of realtors caught lying about home sales

Will realtors ever stop lying to us? Apparently, they thought it best to show a market with robust sales even though the reality was low sales. Starting in 2007, just as sales volumes were plummeting because prices were high and qualifying buyers were scarce, the National Association of realtors revised their methodology in a way that overstated sales significantly over the last 4 years. In others words, if you thought sales rates were tolerably low, you were deceived by as [Read More...]

 
Urgency Versus Reality: realtors Win, Buyers Lose

realtors don’t stop finding reasons to buy until buyers have enough. It doesn’t matter if the reasons are good or bad, they just needs to be plausible and salable. Yesterday, I pilloried a hapless realtor spouting nonsense, and today, I want to explore why realtors are responsible for the rubbish they promote. I want to start by saying that there are many good Realtors (deserving of a capital “R”), and they are as dismayed about the practices in their profession [Read More...]

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