Readers who have returned to the comments section of this week's Crye Leike entries during the overnight hours will have noticed that ShannahS has announced her intention on Enclave to file a formal complaint to the Tennessee Real Estate Commission concerning Crye Leike Realtor Terry Rymar's allegedly questionable and possibly unethical business practices in Salemtown.
ShannahS maintains that she was told directly by Ms. Rymar that a new property "listing has a contract on it for the asking [price of] $187,000.00, but that it needed a mere $50,000 to rehab the house" on 5th Ave., North. ShannahS also says that Ms. Rymar stated that ShannahS could then turn around and "easily resell for $320,000." ShannahS tells me that she believes that Ms. Rymar has misrepresented the rehab and resell figures; she also says that Ms. Rymar is unethical for giving home owners definite figures that they can get for their homes and for giving buyers definite figures that they can get for rehabilitating homes that they buy.
ShannahS also tells me that she believes Ms. Rymar mislead her on the square footage of the house in question and that Ms. Rymar told her that the only work that needed to be done was gutting and upgrading the house's kitchen even though ShannahS knows that a previous buyer's inspector found a cockroach infestation and mold problems, which are unfavorable and poor conditions Ms. Rymar did not mention in their conversation about the property, even though their mention would probably affect the price of the property.
I have already maintained that I have heard and now believe that Terry Rymar preys on the wishes of long-time home owners here in Salemtown by promising them inflated, exaggerated returns on their real estate investments. It's time for somebody from the State to investigate this matter and if necessary either discipline Ms. Rymar or put the continuing allegations (which I've heard from buyers, sellers, and builders) to rest.
08/27/2005, 10:35 a.m., Update: Check out Benjamin VH's blog for recent conversations between neighbors concerned about Terry Rymar and their perceptions of the current controversy. See his comment section in particular.