Boston finally got a real August: pending sales down 13%, inventory way up, rates back at 6.7%, and a move-in ready house that could not sell but rented in a day at the same payment.

In this episode:

• The market check: pending sales down 13%, inventory above the last two years, and buyers who suddenly are not in a rush
• Mortgage rates back at 6.7% and why 6.25% is the number that unlocks the fall
• The listing that sat for months, went up for rent, and was instantly flooded with applications at the same $4,000 a month
• Seth's own purchase going sideways: a roof stain everyone called old, until it rained twice
• Why Seth now sends a full seller's disclosure to the buyer before the home inspection
• Home inspection reports that read like the house could fall down tomorrow or stand another hundred years
• A closing blown up by open ISD permits and a tenant estoppel the seller claimed to know nothing about
• Paragraph 10 extensions, rate lock fees, and who is actually on the hook
• The Salem sump pump permit war, and why some agents stopped doing seller's disclosures entirely
• A South Boston fence a broker swore was common area, and what happens when it is not
• One year of the Massachusetts renter-paid broker fee ban, and the open-listing loophole still charging tenants a full month
• Overrated / Underrated: the school district premium, back to school shopping, Plymouth County, and living off campus
• Plus: writing an offer straight out of anesthesia, spatchcock chicken on a hard-lined grill, and things you only see on Revere Beach

Chapters:

00:00 Why listen to two guys who do this much volume 07:26 Surgery, private-pay insurance and the HSA play 14:20 Writing an offer straight out of anesthesia 18:30 Pending sales down 13%, inventory way up 19:39 Rates back at 6.7% and what that does to buyers 20:23 The house that would not sell but rented in a day 22:23 Do buyers have commitment issues now 24:55 Home inspection reports are 40 pages of disclaimers 26:22 Seth's own roof leak, found at the final walkthrough 29:03 Full seller's disclosure before the home inspection 32:48 Overrated / Underrated: the 80 year old Maytag gas dryer 43:35 Things I see on Revere Beach 55:51 Bad deal: open ISD permits and a tenant estoppel 57:05 Paragraph 10 extensions and who pays the rate lock 59:43 The Salem sump pump permit war 64:57 The fence a broker swore was common area 67:02 One year of the Massachusetts renter-paid broker fee ban 72:48 Overrated / Underrated: the school district premium 78:01 Plymouth County 79:37 On campus vs off campus, story time

Hosts: Seth Williams, owner of Reference Real Estate in Boston (sellinboston.com), and Nick Nardone, Massachusetts real estate and condo attorney.

Bad Deals Only is for entertainment purposes only and is not legal, financial, or real estate advice. Talk to your own attorney or agent about your specific situation.