Another Sign The Housing Market Is Heating up

Posted by: Chris Palmeri on July 23, 2009

keys.jpg

An agent tells me he’s been told never to give out lock box combinations to clients because the would-be buyers are stealing the keys so no one else can get in and see the house after them.

Reader Comments

Eric

July 23, 2009 8:23 AM

Lock boxes to what, foreclosures?

Garth

July 23, 2009 10:21 AM

Where is this? Most lock boxes in the D.C. metro region require a keypad that Agents must have to access the lock box. Not to mention, this is suspect reason to believe that the overall housing market is moving forward.

larry

July 23, 2009 11:25 AM

And this means all is well in Real Estate again. No stretch of the imagination is needed here.

dave

July 23, 2009 12:23 PM

if an agent gives out a lock box combination, they should be convicted of a crime. That is the most ridiculous thing I have ever heard. That agent should lose his/her license.

www.Bridgetmagnus.com

July 23, 2009 12:35 PM

Never give out lock box combos to clients because it's a *bad idea*. If that's not enough, it can also get your membership in the local Realtor organization pulled.

Yet another reason I like electronic lock boxes.

However, since real estate has many local markets, letting readers know where this particular agent has found a hot market would be nice. I know Vegas is nuts right now, but where else are things hot?

Karin

July 23, 2009 12:42 PM

I just came back from McClelland's Beach on Spirit Lake, Iowa, and talk about the nation's best-kept property secret -- these places are right next to the Okoboji resort area ($5 - $6 million homes), but on a bigger, cleaner lake, bordering on parks and bike trails, same water-sport access, and selling for practically nothing!

aj

July 23, 2009 4:18 PM

Mira mesa in San Diego is the best place.

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About

BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.

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