Lest anyone think i am mad for proposing a bike ride to take up ones idle time, waiting for the phone to ring with a new real estate matter,.... here's a video by bike winter commuter Steven Lane. i'm not (yet) this hard core, but here's to those Hart soles who are.
Washington, D.C. real estate attorney Pamela Rothenberg hit the nail on the head in today's Legal Times. Real Estate is a cyclical market. There are booms and busts. Anyone who has practiced in this field long enough knows that the pendulum swings back and forth. Rothenberg describes the angst of the real estate attorney watching yet another tilt in the "wrong" direction.
My job is to help my clients buy and sell. When they are frustrated in their pursuits, I am too.
So, its pretty horrific having to watch owners who (sometimes desperately) want to sell, unable to find buyers willing or able to buy. Its sad to witness sellers pay money at a closing to make up the difference between what is gained at sale and what is owed to mortgage and lien holders. It is annoying to try to negotiate short sales with lenders (themselves desperate not to lose money in behalf of sellers who cannot sell for enough money to repay their loans in full, and it is no easier watching a willing buy…