Getting Real

Posts in category "Dumb Ideas"

Is The Foreclosure Abuse Settlement A Good Thing?

I’ve been debating all day about whether or not to write this post about today’s announcement about the $25 Billion foreclosure abuse settlement between the US government and 5 major banks. As I understand it the settlement includes several provisions as to where the money from the banks will go: $1.5 Billion goes to borrowers... Read more »

By Gary Lucido,
February 9, 2012 at 10:34 pm

• 5 comments

How The Government Actually Makes It Harder To Buy And Sell Short Sales

In response to my last blog post about how a bank refused to pay my commission on a short sale that I was buying for myself the Chicago area MLS did some further research on the issue and was in contact with the Chicago Association of Realtors with their findings. They referred me to so... Read more »

By Gary Lucido,
February 4, 2012 at 9:29 pm

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Yet Another Example Of Bank Stupidity With Short Sales

The banks never cease to amaze me with their utter stupidity when it comes to short sales. The list is topped by their convoluted internal processes, slow response times, unrealistic expectations, and their gullibility in being duped by unscrupulous realtors. However, what just happened to my wife and me in our own attempt to purchase... Read more »

By Gary Lucido,
February 2, 2012 at 7:07 am

• 2 comments

Government Price Controls Mandate Higher Compensation For Loan Officers

It seems that the damn government just can’t keep their hands off the economy. Of course, with such a great track record, can you blame them? The bureaucrats love to believe that they can micromanage any aspect of any industry but in reality there’s no getting around the laws of economics or the law of... Read more »

By Gary Lucido,
November 5, 2011 at 7:07 am

• 1 comment

Government Looking To Steal Money From Investors For Homeowner Handouts

When Obama delivered his jobs speech about a week ago he dropped a hint about a proposed program to work with federal agencies to help responsible, underwater homeowners refinance their mortgages. As he described it this would “put more than $2,000 a year in a family’s pocket, and give a lift to an economy still... Read more »

By Gary Lucido,
September 17, 2011 at 12:39 am

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Want A Copy Of A One Million Dollar Check?

Feel free to download as many copies as you want of that check. I’m sure the demand will be underwhelming. So why then is there this silly tradition amongst some listing agents and sellers to ask for a copy of the earnest money check? And some buyer’s agents even voluntarily provide it. Is it supposed... Read more »

By Gary Lucido,
May 24, 2011 at 8:17 am

• 1 comment

Only 229 Days Left For 100 Watt Light Bulbs

Are you aware that you only have 229 days left to legally buy 100 watt incandescent light bulbs in the US? It’s the result of a law passed by congress to encourage energy efficiency. And by 2014 you won’t be able to buy any incandescent light bulbs 40 watts and above. Once that happens you... Read more »

By Gary Lucido,
May 17, 2011 at 6:10 am

• 5 comments

Do high cooperating real estate commissions help sell homes?

The other day I got an email promoting the closeouts at The Columbian at 1160 S Michigan Ave (more on that in another post). One of the things that got my attention was that they are offering buyer’s agents a 3.5% commission on all the units except the penthouse unit listed at $1.9 MM on... Read more »

By Gary Lucido,
May 12, 2011 at 10:58 pm

• 1 comment

Midwest To Waste $400 MM On High Speed Rail

I fear I am getting way too political for a real estate blog but I can’t help myself. Breaking news: Midwest to get $400 MM in high speed rail funds. My first thought is that we already have a high speed mode of transportation from Chicago to Detroit and St. Louis. It’s called Southwest Airlines... Read more »

By Gary Lucido,
May 9, 2011 at 2:00 pm

• 12 comments

Chicago's Top Producer Pageant Brings Out The Dancing Realtors

I didn’t really have a photo of the dancing realtors but you can see them in the video below. However, this picture pretty much captures my mental image of what dancing realtors would look like – or at least what I look like when I’m forced to dance. As if that’s not reason enough for... Read more »

By Gary Lucido,
April 28, 2011 at 2:14 pm

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