Buyer sues Realtor for home price falling!

I have several thoughts:

1. People will sue for anything. There are those out there who refuse to take responsibility for their actions, including their own failure to check out the demographics or even merely asking the question of their realtor.

2. In my opinion it is absurd to blame a realtor for falling prices. Realtors don’t control the market pricing; anyone who has been paying attention to what is going on with the sub-prime mess would know that is one of the biggest problems facing the industry.

3. I think a smart agent will disclose everything possible, knowing there are people out there who will sue for anything. So that would include warning them that the market is very volatile right now, and what may seem like a good deal today may turn out to have cost too much money several weeks down the road. I don’t like the statement in the story that “one would assume that any buyer would be exposed to an abundance of pricing and demographic information on any neighborhood they were interested in buying into.” Perhaps a realtor should make sure their client is exposed to that information, rather than assuming it, just to cover all the bases.

4. I like the suggestion of the added disclosure statement that buyers are aware that property may increase or decreased at any time. But, isn’t that sad that it even has to be added?