Thursday, January 24, 2008
You might have seen this article yesterday but there is a couple out of San Diego, CA suing their real estate agent because they feel they were misled and paid too much for their house. They got a couple flyers for 2 homes that sold just down the street from them for more than $100K less than what they paid for their home. So now they're suing.
Please note their Realtor was also their mortgage broker. Hello? Anyone NOT see a problem with that arrangement? I'm not saying he did anything wrong but if anyone's in a position to make sure an appraisal comes in higher than it needs to, it's your mortgage broker. Also, California is taking a huge hit and it's not uncommon for many people that bought a year ago to have negative equity.
I want to know whatever happened to "buyer beware" and doing your own due diligence in looking closely at the sales statistics? Surely they asked their Realtor to show them a CMA of the neighborhood. They should also still have a copy of it. If they can prove he left out lower sales then that should be pretty telling. If they blindly signed a contract without doing any of this then that's their own fault and now they are just bitter.
It started with someone suing McDonald's for having hot coffee and for being fat and now this? Generations X & Y are classified using age but I think the whole world is in Generation U. The unaccountable generation. We no longer take responsibility for our own actions or mistakes. No longer does the home owner have to claim a short sale loss on his or her income. Free get out of jail cards are given to stupid people across the nation so I guess we shouldn't be surprised.
And then there's this which is yet another example of how Generation U will go down in history and the stupidest and laziest generation, ever.