Real Estate News: March 26, 2010

Another rocky launch for ‘California MLS’

By MATT CARTER Operators of the California Association of Realtors’ planned statewide multiple listing service, calREDD, are working overtime on upgrades and fixes after bringing four additional Realtor associations online in January. CAR’s California MLS Inc. subsidiary — the company that provides the calREDD MLS service — hopes to avoid a repeat of a setback that occurred last year … More »

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NOTABLE QUOTE

"In earlier lending eras, it was possible for the seller to offer the buyer a closing-cost credit, which the buyer would recoup as cash at closing, with the intention that the funds would go toward the repair. So many times these situations ended up with the money going to other things that banks have entirely stopped the practice of allowing buyers to get ‘cash at closing.’ " –Tara-Nicholle Nelson

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