The real deal about Los Angeles real estate.....really!

How To Win in a Multiple Offer Situation when you are limited on price

Sun, 13 May 2012 08:28:40 -0700

How To Win in a Multiple Offer Situation when you are limited on price

Well, it seems that we're back in the type of market where multiple offers are becoming common.

There's a mixed bag of buyers out there - conventional buyers, FHA buyers, VA buyers, and all-cash buyers and investors.

In a multiple offer situation, the offer price is probably one of the biggest factors when the seller is deciding which offers to entertain or accept.

But what do you do when you've reached your affordable max and can't really come up any more in price?

Here's just a few things that I recommend to my buyers. It requires a little investigative work, but it may pay off for you.

1. Find out where the seller is moving to, and what logistics are involved with that - Is is the case where and when they're moving may cause them need a short rent-back from you? In other words, after the close of escrow, it may help if they stayed in the home anywhere up to 30 days in which they can pay you based on your P.I.T.I. (Principle, Interest, Taxes, Insurance) calculated on a daily rate, or if you're in a financial position to do so, offer them a free rent-back period. A good example is when the seller's new home is not quite ready to move into and they need just a small amount of time. Offering the seller a rent-back is HUGE when it comes to these situations. No seller really wants to have to go into temporary housing and have to move twice!

2. Do the sellers have any pets that for whatever reason will be difficult for them to take to their new home? Once again, if you're in a position to do so, offer to adopt the pet. Or perhaps there is someone you know that may want to adopt the pet. This is a major relief when a problem arises for those sellers that are moving to an environment where the little guys may not have as friendly and safe of an environment. And since the pet is already accustomed to that home, there shouldn't be too much of a transition for the pet other than getting used to their new owners. Something like this can truly set you apart from the other buyers tremendously.

3. Write a fast inspection period into the contract - The standard contingency in California is 17 days to perform an inspection and remove that contingency to the contract. But honestly, you can get a certified inspection booked in a matter of days and get that all taken care of with your inspector in most cases. Try changing that inspection period to 10 days. Why? It shows the seller you're willing to get your due diligence done quickly and efficiently. That can score quite a few points with both the seller and listing agent.

4. Offer to inherit personal property that would be difficult to move - Is there any personal property that is large or difficult to move that would create a huge cost factor for the seller? Offer to keep the personal property or purchase the personal property depending on what type it is. Maybe there are some old paint cans or bricks/boards, etc. on the property. This can save the seller a lot of money not having to pay to move items that could create a substantial moving expense.

5. Write a personal letter to the seller that you've found you have a connection with - Do you and the seller both have children? Pets? Belong to the same organizations / clubs / charity? Share the same spiritual beliefs? Taste in architecture? Perhaps you share similar life experiences? Writing a personal letter to the seller that is sincere and makes some kind of connection or that creates some kind of bond with them can be HUGE in their decision to choose a buyer in a multiple offer situation.

6. Assure the seller you will continue to use their existing contractors - It could be that the gardener, pool service person, pet sitter, pest control, etc. are contractors that the seller has known for many years and feels badly that they will be moving and perhaps they will no longer have the work associated with the home due to a new buyer living there. Offer to keep those service providers employed when you take possession to the property. In most cases it may make sense for you as well, but the gesture could mean a whole lot to seller that is conscientious about relationships. It could also be the case where you may be able to assume any outstanding contracts that would otherwise cost the seller a lot to cancel.

Have I divulged ALL of my buyer strategy secrets? Of course not! Those are reserved for the buyers who I'm fortunate enough to work with.

The best advice I can give a buyer is: BE A STRAIGHT SHOOTER AND WEAR YOUR HEART ON YOUR SLEEVE. Don't be crafty or coy. It never works and you'll always create an environment of mistrust and animosity, and that's a recipe for disaster.

Chase Takes $2 Billion Dollar Loss On Bad Investment - Have they not learned ANYTHING?!!!

Sat, 19 May 2012 08:07:17 -0700

Chase Takes $2 Billion Dollar Loss On Bad Investment - Have they not learned ANYTHING?!!!

This just BURNS me up!

After only a matter of just a few years since our mortgage crises they are engaging in this kind of activity?

REALLY?!!

Do we have a vaccination for greed at our pharmacies? If so, I think every single one of those executives responsible for this need to be rounded up like cattle and given a shot in the a$$ with the ANTI-GREED medication!!

HONESTLY!!

Enough is enough!! We spent HOW MUCH of our hard-earned taxpayers money to bail them out? For WHAT?

They're like crack addicts with who need to go to detox for the greed habit that they can't seem to kick.

Day One Of The Rest Of My Life......What I did today towards acheiving my goals and making the world a better place

Wed, 09 May 2012 18:13:34 -0700

Day One Of The Rest Of My Life......What I did today towards acheiving my goals and making the world a better place

Went to the gym this morning!

Had a great company meeting today.

Ate a great, healthy lunch.

Went to my business networking group and had a good meeting this week.

Showed property to a very nice buyer with a great personality.

Read 10 more pages of "The Slight Edge" by Jeff Olson.

Donated $100 to an agent friend's fundraising cause.

Got a short sale written approval for my buyers in Santa Clarita today!

Getting on the tennis courts tonight.

Counted my blessings.

Why it's so important for short sale owners to maintain their HOA payments.......

Thu, 26 Apr 2012 08:59:58 -0700

Why it's so important for short sale owners to maintain their HOA payments.......

Short sale properties are usually surrounded by some very unique energy. They are classified as a distressed property for that exact reason: there is some sort of distress and/or stress being undertaken by the owner.

The reasons to short sale a property can vary - financial hardship, death, domestic issues, job-related issues, relocation, etc.

And much of the time the distress revolves around finances that typically result in mortgage payments in arrears. Some of the properties are those within a homeowners association, with monthly dues or annual dues.

Not only am I a certified, hired short sale facilitator, but I am also the President of my homeowners association in the single family home tract in which I live. So I am fortunate enough to know the perspective from both sides - the short sale home owner as I represent them in a transaction, and the homeowners association itself.

Typically these HOA dues, for the most part, are used to maintain the common areas of the association, but they are also used to cover insurance expenses, unforeseen repairs, legal costs, and other common expenses incurred by the residents of that community.

In a short sale, although a past due HOA amount and/or lien may not seem like a huge amount in comparison to multiple missed mortgage payments with late penalties and interest, it nonetheless can create a huge problem the closer you get towards closing on a short sale.

The main reason is, much like any other standard sale, the property must be delieverd to the buyer free and clear of all liens. If the HOA is far enough in arrears to the point where the HOA has placed a lien on the property, that lien will need to be paid off by some party to the transaction in order for it to be reconveyed and removed.

Whether or not the bank will pay for the past HOA dues and or liens is to be seen. These types of selling expenses vary from one situation to the next, and are approved or not approved from one short sale bank to the next depending on the underwriting guidelines for that particular file from the short sale investor.

But beyond the financial aspect of this situation, there is a much deeper issue at hand that most short sale owners do not realize - YOU ARE PART OF AN ASSOCIATION.

Meaning, you are part of a common effort to maintain the financial integrity of your association, and thus maintain the property values, safety, well-being, and quiet enjoyment of all residents' property within your community. It is a duty all of the residents have to each other when they made the decision to become a homeowner in that community.

So in essence, by not maintaining your HOA payments in a short sale, you are putting the other residents in your community at risk and making the burden that much heavier for everyone else.

From my experience, if the homeowner has foregone mortgage payments, they are more than likely in a position to keep maintaining the HOA payments. I dont' have a crystal ball, and of course I cannot speak for every situation, but once again based on my experience it has almost always been the case where the owner is in a position to maintain their HOA payments if they have chosen to forego the mortgage payments. If they are one of those fortunate individuals that are needing to short sale their property due to other reasons than financial hardship, then even more so they have an obligation to maintain the HOA payments.

One more thing: In the biggest picture of all, do yourself a favor and use the Boomerang Theory - put the positive energy out there by caring enough about your fellow residents, and that positive energy will come back to you at time when you're probably going to need it.

All the Best,

“Los Angeles 411” Enjoy a fun day at the Kidspace Children’s Museum in Pasadena, California

Tue, 18 Jan 2011 14:13:51 -0800

Spend the day with the kids at the Kidspace Children’s Museum in Pasadena, California!

The Kidspace Children’s Museum is a great way for children to explore and be in a creative environment.

Children are able to experience learning of the arts, sciences and humanities through fun self-directed and interactive play.

This amazing and fun place not only helps the children, it also enriches the community as well!

For more information regarding the Kidspace Children’s Museum please visit the link below: http://www.kidspacemuseum.org/site/PageServer?pagename=index

What a great way to spend the day and just have fun!

CHEERS

“Los Angeles 411” Enjoy an evening at the Avalon Hollywood Nightclub in Los Angeles, California

Wed, 22 Dec 2010 16:34:06 -0800

So you need to get out on the town and let loose! Why not spend an evening at the Avalon Hollywood Nightclub in Los Angeles, California for your entertainment.

This awesome historical nightclub is also the home to the exclusive Bardot Lounge!

Avalon Hollywood is an ideal place for live concerts, dancing, private events, award shows and so much more.

Located across the street from the historical Capital Records Building, the Avalon Hollywood owns the night!

For more information regarding the Avalon Hollywood please visit the link below: www.avalonhollywood.com/

What a fantastic way to let loose!

“Los Angeles 411” Spend the day at the William S. Hart Park and Museum in Santa Clarita, California

Fri, 18 Mar 2011 12:16:21 -0700

One of my favorite historical places to visit is the William S. Hart Park and Museum in Santa Clarita, California!

This amazing treasure right in our own backyard was purchased and built in 1921 by William S. Hart, a beloved famous silent movie western star.

The Hart mansion up on top of the hill is a gorgeous 22 room museum for all to see and admire for free, just the way William S. Hart wanted it. It houses an exquisite collection of western art and Native American artifacts.

Down below is a really cool ranch house that houses lots of Hart’s most prized possessions that he left behind.

There are animals that you can visit including a small herd of bison that were a gift from the Walt Disney Studios.

The best part of this amazing 265 acres of unforgettable historical buildings and pure beauty is that it does not cost visitors a penny to visit. William S. Hart saw to that and for that I am forever grateful!

For more information regarding the William S. Hart Park and Museum please visit the link: http://www.hartmuseum.org/

What a fantastic way to spend the afternoon!

“Los Angeles 411” Spend a relaxing Sunday at the Gentle Barn in Santa Clarita, California

Mon, 14 Mar 2011 16:35:12 -0700

Spend a relaxing Sunday at the Gentle Barn in Santa Clarita, California!

The Gentle Barn is a wonderful non-profit organization that rescues neglected and abandoned farm animals.

This amazing sanctuary is open to the public on Sundays for every one of all ages to enjoy these courageous and loving animals.

The Gentle Barn is a perfect place for all sorts of wonderful occasions and celebrations!

At the Gentle Barn you can groom the horses, brush the cows and just have a great time with these amazing animals.

For more information regarding the Gentle Barn please visit the link below: http://gentlebarn.org/index.php

What a great way to enjoy a Sunday afternoon!

“Los Angeles 411”The historic Victorian Manors on Carroll Avenue in Los Angeles, California

Mon, 10 Jan 2011 10:34:51 -0800

Imagine yourself strolling along Carroll Avenue in Los Angeles, California a century ago!

There you would have experienced the Victorian Era at its finest, in architecture.

Carroll Avenue is a street located near Echo Park in Los Angeles. It is located to be exact in Angelino Heights, one of the older neighborhoods in Los Angeles. It is one of the first suburbs that developed in Los Angeles, California.

Carroll Avenue is lined up with many beautiful Victorian Manors and has been used in many films as well as television shows.

Today, the Victorian Manors are used as private residences as they were used long ago in the 1800’s.

For more information regarding Carroll Avenue please visit the link below: http://en.wikipedia.org/wiki/Carroll_Avenue

What a great delight to see history at its finest!

“Los Angeles 411” The historic Millard House in Pasadena, California

Wed, 26 Jan 2011 17:04:09 -0800

The historic Millard House also known as the La Miniatura is located in Pasadena, California.

The Millard House was built in 1923 and is a Frank Lloyd Wright home.

This amazing home is in the textile block style that Mr. Wright was well known for in his designs.

In fact, the Millard house was the very first textile block home that Mr. Wright designed.

The house was owned by Alice Millard a rare book dealer for whom Mr. Wright built a home for in Highland Park, Illinois in 1906.

The Millard House was listed on the National Register of Historic Places in 1976.

For more information regarding the Millard House please visit the link below: http://en.wikipedia.org/wiki/Millard_House

Another great piece of history right in our own backyard!

“Los Angeles 411” Spend the day at the Valencia Ice Station in Santa Clarita, California

Wed, 23 Mar 2011 18:35:22 -0700

Spend a fun filled day at the Valencia Ice Station in Santa Clarita, California!

The Valencia Ice Station is located at 27745 North Smyth Drive in the Santa Clarita Valley.

The Valencia Ice Station offers so many fun activities that one can only dream of!

They have ice skating, hockey, snow day and the most fun of all the bumper cars on ice.

This is the perfect place to have a birthday party, group fundraiser, company event, family get together and so much more!

For more information regarding the Valencia Ice Station please visit the link below: http://www.icestation.net/HOME.aspx

What a great place to have a blast!

“Los Angeles 411” Take a tour of the Saugus Train Station at Heritage Junction in Santa Clarita, California

Tue, 12 Apr 2011 13:15:57 -0700

There is a lot of history in the growing town of Santa Clarita, California!

The Saugus Train Station at Heritage Junction is a prime example of history at its finest. It was opened September 1, 1887.

The Tolefree’s Saugus Eating House now known as “The Saugus Café” used to sit at the North end of the station depot and would accommodate exhausted and famished travelers. It was owned by Martin and Richard Wood in 1898. The Saugus Café was later moved to its current location.

The Saugus Train Station had some famous Presidents step through its doors such as Theodore Roosevelt and Benjamin Harrison.

This historical train station has fallen victim to many robberies such as the famous robbery in 1929 when Engine 59 was derailed and looted by “Buffalo” Tom Vernon, a notorious train robber.

Cowboys famously greeted the Saugus Train Station by shooting it up and making their presence known.

The Saugus Train Station was closed down in 1978 and has been used in major motion pictures.

Today, visitors can tour through this historical treasure free of charge!

For more information regarding the Saugus Train Station please visit the link below: http://www.scvhs.org/station.htm

What a great piece of history right in our own backyard!

“Los Angeles 411” Enjoy a fantastic dinner at the Backwoods Inn in Santa Clarita, California

Fri, 08 Apr 2011 12:48:17 -0700

Enjoy a spectacular meal at the Backwoods Inn in Santa Clarita, California!

Located in the heart of the Santa Clarita Valley, sits the best steakhouse in town.

Backwoods Inn has been a favorite amongst the locals since 1968 and is still going strong.

The food at the Backwoods Inn is delectable and mouthwatering all rolled into one.

This amazing and yummy place is perfect for any occasion as well as hosting banquets!

While you are at the Backwoods Inn, why not enjoy a delicious cocktail to go with your delectable meal!

Many famous patrons graced the Backwoods Inn with their presence such as Roy Rogers, Martin Landeau, James Earl Jones, Gene Hackman and many more!

For more information regarding the Backwoods Inn please visit the link below: http://www.backwoodsinn.com/index.html

What a great way to enjoy an evening!

I sponsored another Micro Loan to a woman in Ecuador through Kiva.org - Pay It Forward

Fri, 13 May 2011 11:23:20 -0700

I sponsored another Micro Loan to a woman in Ecuador through Kiva.org - Pay It Forward

I love working with Kiva.org. It's a GREAT site that lets you provide small, $25 micro-loans to impoverished people around the world who are trying to start or grow their own small businesses.

You, along with a number of other people, provide a small loan as a group to select individuals, and the loan gets repaid and back into your account to lend out again!

The loan and repayments are supervised by individual financial organizations throughout those particular areas of the world.

I've been working with Kiva.org for about 4 years now, and have provided dozens of micro loans, and have a 100% re-payment rate with no defaults.

I tend to choose women in different countries to lend the money to, mostly because they do not have as much opportunity as men due to the disparagement of women in many countries.

Anyway, my assistant Lea and I work together on choosing candidates.

This week we chose Rosa from Ecuador because she is a hardworking young single mom that works hard in order to take care of her young daughter. Rosa works long hours to provide for her little one. Which we as parents know that is not an easy job, but certainly well worth it!

For more information on Rosa please visit the link:

http://www.kiva.org/lend/294144

I sponsored another Micro Loan to a woman in Ecuador through Kiva.org - Pay It Forward

Fri, 13 May 2011 11:18:59 -0700

I sponsored another Micro Loan to a woman in Ecuador through Kiva.org - Pay It Forward

I love working with Kiva.org. It's a GREAT site that lets you provide small, $25 micro-loans to impoverished people around the world who are trying to start or grow their own small businesses.

You, along with a number of other people, provide a small loan as a group to select individuals, and the loan gets repaid and back into your account to lend out again!

The loan and repayments are supervised by individual financial organizations throughout those particular areas of the world.

I've been working with Kiva.org for about 4 years now, and have provided dozens of micro loans, and have a 100% re-payment rate with no defaults.

I tend to choose women in different countries to lend the money to, mostly because they do not have as much opportunity as men due to the disparagement of women in many countries.

Anyway, my assistant Lea and I work together on choosing candidates.

For more information on Rosa please visit the link:

http://www.kiva.org/lend/294144