03-25-2008 03:02 PM - edited 03-25-2008 03:08 PM
As a NACA member, let me be the first to say I would LOVE to be able to utilize this tool with "the best mortgage program in america" as they put it. Realistically, I know that I'm a bit smarter than the average bear. Part of the reason that they insist on members using vetted real estate agents is to provide individuals with an advocate. One who will work to ensure that the interests of the buyer are served as best possible. From seeing a lot of other members and the struggles that they have, this makes a lot of sense. Many individuals do not have the "do it yourself" mentality which Redfin caters to. Too often the phrase "let the buyer beware" is proven to be an important adage when in regards to shady dealings. Things like convincing buyers to avoid inspections, etc.
Again, I know the drill and am fully prepared to be culpable for the consequences, but NACA is really at the core of it simply looking out for their members.
On another note, check out this NACA google gadget I came across:
Message Edited by Brian_Redbeard on 03-25-2008 03:08 PM
03-28-2008 10:23 AM
To begin, NACA requires members to use a buyers agent who is familiar with the NACA program to ensure that individuals do not fall victim to predatory home buying situations. While I will be the first to admit that I would prefer to save the cost of the buyers agent, I understand that individual's role as an advocate for the buyer throughout the purchase process.
To summarize... yeah, i'd love to save a little scratch, but the lions share of the individuals using this program are not the type of individuals who would use redfin, so it's a catch-22. Good interest rate (5.125% as of today) versus having to pay a little more up front.
Either way, Redfin is a fantastic MLS dashboard and allows me to effectively obsess about lots of houses while I'm doing my savings!
03-28-2008 10:29 AM
03-28-2008 03:08 PM
As you said, a large problem with the predatory situation of 2005-2006 revolved not only around lending, but inspectors who fudged their work to increase home values, agents who's primary agenda was to make as many sales as possible without consideration for their clients, and contractors who performed sub-par work in effect devaluing the properties. These are all situations which NACA actively works to combat.
Hence, Redfin is a great tool for finding the houses, but as Redfin acts *as* the buyers agent (and that is where the "savings" comes from), it is inherently incompatible with the NACA program. Nonetheless, it is a great tool to find specific properties to take directly to the agent a member is working with.
03-28-2008 06:05 PM - edited 03-29-2008 08:19 AM
Message Edited by FatJake on 03-29-2008 08:19 AM
03-31-2008 03:30 PM
04-02-2008 06:17 AM