Loan officer from Ann Arbor Lender pleads guilty

The Columbus dispatch ran an article today about loan officer Kenyatta Johnson who worked for ABN Ambro in Ann Arbor.

Seems Kenyatta admitted she approved fraudulent mortgage-loan applications for Columbus Ohio home in return for kickback money.

If you click on the article linked above and go to the last sentence you see there are two other defendants in the case who have not yet pleaded guilty. One of them is named Jonathan Boyd! (My name!)

Glad he is in Columbus and not here in the Milford - Ann Arbor area.

Important Inspection Tip for Milford Home Buyers

This link goes to a story about a home in Ann Arbor, but the principle also applies to homes build in the last 13 or 14 years in the Milford Michigan area.

The specific concern in homes with an exterior finish of Drivit or EIFS or Exterior Insulation Finishing System or .... Stucco. These are all basically the same and even though they work fine in many commercial buildings, they can cause tremendous issues for homes.

Here again is the link: Stucco Problem on Milford homes

What the "buyer agent" from the traditional company won't tell you

There is an interesting post on Trulia that I ran across recently from a "buyer specialist" who works for a "team" at a traditional real estate company.

Remember the idea of having a buyer agent is that they will give you:

1. Unbiased exposure to homes
2. Negotiate in your best interest
3. Be loyal to you and your needs
4. Keep your confidential information confidential

Well at that large local company the "buyer specialist" gets paid 25% more if she sells you an in-house listing. How is that for "unbiase expose to homes"???

Buying a Milford home built from the 40's to the 60's?

If you are buying a home in Milfor Michigan built during the late 40's, 50's or early 60's, you want to know what kind of sewer line the home has.

Here is a video inspection of a sewer line that turned out to be "Crock" type pipe. I'll be posting videos of some of the other sewer material we find in homes of this age.

What you really want to be careful about is "Orangeburg" type pipe.

Prudential broker writes laws in one state, breaks in the next

I Just heard from an Exclusive Buyer's Agent out west who noticed something from their professional licensing bureau that caught her eye.

The Iowa licensing bureau fined a Nebraska broker and 5 of his agents $7,500 for practicing real estate in Iowa without an Iowa license. The company, a Prudential franchise, was licensed in Omaha, they were just doing business in Iowa.

Here is the interesting point:

The broker that was guilty in Iowa is a member of the real estate commission in Omaha! The guy helps write laws in Omaha and he breaks them in Iowa!

Good Insights For Negotiations With Builders

Here is an article based on interviews with 6 toop exclusive buyer agents from across the country on negotiation with builders.

Negotiation with builders article

Exclusive Buyer Agent - now being faked by regular agents?

If you have been researching homes and home buying you may already know that the definition of "Exclusive Buyer Agent" is a company who only represents buyers, never sellers. They never take listings.

In Michigan there are some real estate agents who are falsely advertising "EBA" in hopes of tricking uneducated buyers. Well it turns out Michigan isn't the only place this is going on.

Home buying expert Julie Tuggle recently posted an article here that goes into some detail:

Will the REAL Exclusive Buyer's Agent Please Stand Up?

Nice writing Julie!