As the market continues to cool it will be interesting to witness how the throngs of middlemen, once riding high on the hog, readjust to the more competitive environment.
Mortgage brokers, Real Estate Brokers (Realtors), Home Appraisers, Home Inspectors, you name it are all headed for rough waters and for many it will mean closing up shop.
To that end, witness the plight of 1-800-Housing.Net LLC. For the past month there has been “announcements” (advertisements) on PRNewswire telling of the imminent sale “of its assets, including Web addresses, a phone number, application software and website”.
After a bit of speak about the value and “name recognition” of their assets, the announcement goes on to say “The owner is working with a short time frame and is motivated to close for the right terms, preferring a private transaction to an internet-based auction… As this is a simple transaction, we anticipate closing within 30 days, either way.”
Well, once a salesman, always a salesman I guess. It seems that even walking out the door, a good middleman can’t resist buttering things up.
Certainly, in the coming months, many others will be forced to follow suit… Be sure and let PaperMoney know if you should notice any interesting action in your neck of the woods!
As the market continues to cool it will be interesting to witness how the throngs of middlemen, once riding high on the hog, readjust to the more competitive environment. 
