Boston Real Estate for Sale

Ha ha! Ha?

So far, five people have emailed me this story.

It’s an article that appeared in today’s Times.

Marty Ummel feels she paid too much for her house. So do millions of other people who bought at the peak of the housing boom.

What makes Ms. Ummel different is that she is suing her agent, saying it was all his fault.

Ms. Ummel claims that the agent hid the information that similar homes in the neighborhood were selling for less because he feared she would back out and he would lose his $30,000 commission.

This story has so many layers, I can’t summarize them all, here.

But, basically, lady and her husband bought a home. They were quite cautious; they took their time.

Finally, they bought a home.

Then, they found out that they may have overpaid.

So, they want someone to pay for their “mistake”.

Starting with their agent. And their appraiser. And their mortgage broker.

Their appraiser and mortgage broker settled with the couple, according to the article.

The agent is fighting.

As well he should!

There were some warning signs at the beginning that the couple might be getting in over their heads or weren’t totally on-board with buying.

They dismissed one agent and canceled deals on two houses before their agent found them the home they purchased.

Each property is unique, as you’ve probably heard. Even with condos, each one is different. But, certainly, you can’t put two single-family homes next to one another and match them up.

The agent has stood his ground. I’m glad his broker has also suggested fighting it.

About the buyer:

Most people who made a bad real estate deal might wince and move on, but people who know Ms. Ummel describe her as unusually determined. She spent a year picketing ReMax offices on weekends.

From the agent:

In a brief phone interview, Mr. Little called the case “ridiculous,” adding: “The lady’s a nut job. I didn’t do anything wrong.”


Source: Feeling Misled on Home Price, Buyers Sue Agent – By David Streitfeld, The New York Times

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