Anthony @ Equity Investigations, Dear Anthony, Message Board

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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: Anthony@Pacific who wrote (67106)	2/16/2001 1:05:10 PM
From: mmmary	Read Replies (3) of 122087

HOMS does not look good to me either I didn't go into their financials. I'm just looking at it as a RE person. I'm a licensed broker and appraiser marycummins.com . I also tried looking for homes through this service for the heck of it. One, the data is extremely out of date. My old condo was listed in there six months after I told them I sold it. They had a house I'd listed and sold in there over a year after I told them I sold it. I would still only get one call a month and it was priced so well that I sold it with multiple bidders in three days. I think they just like keeping a huge fake inventory. When I was looking for a new place, I emailed and called these listings and they were all sold months ago except for one which was way over priced. I have full MLS access and that is the only way to find a home in certain areas. If you want a good deal, you need to work with a live agent as they have pocket listings and other deals. The MLS works with listing link which must be a part of this service. The data gets to listing links at least two weeks after it's first listed. These are not fresh homes. If you have good credit and want a conforming loan you can legally get a $25 computer appraisal so the appraisal business is dying. Right now I build auto dealer websites. We use the sites just to generate leads. It is currently almost impossible if not illegal to sell cars over the internet. It's a great way to advertise and inform but you cannot consumate a deal on line. Not every dealer has every color or model available so you'd have to order and wait months or call all the different local dealers. Same with homes. You still have to kick the tires and check out the kitchens. I realize that homs is just a portal site but I don't see it helping people buy or sell homes the way they say it should. I've also had bad experience with the finance section. The guy who was going to buy my condo used the service to shop a loan. He took the best bid. Needless to say that his best bid turned into a nightmare. He ended up with a quote higher than anything he could get from a broker or bank. They weren't direct lenders at the lending tree so they had to add on a bunch of fees. They also have to price the loans so they can resell them for a profit instantly so they're padded on the front end and back end. I turned him onto my loan agent which gave him a better deal. The loan still fell through because even though the lending tree assured me in writing that he wsa pre-approved, they didn't bother to check his credit which was horrible. Again, I didn't look at the financials. If they are just a portal site making money off ads and leads, then maybe it makes sense. It does not make sense for the consumer unless they just want decorating tips.

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