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la mesa foreclosures: The 5 stages of SHORT SALE grief: - 10/05/10 10:58 PM
In 1969, Elisabeth Kübler-Ross wrote a book called On Death and Dying, where she delineated the step by step process through which most people travel when they are dealing with death or tragedy.
Short sales and foreclosures ARE a tragedy. They’re the end of a dream for a seller. They are a ridiculously long wait for a buyer. For an agent, they are difficult at best, but also an amazing opportunity to really help people.
We can provide the most value to our clients when we make ourselves ready and available to deal with a wide range of human … (5 comments)
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la mesa foreclosures: All San Diego County tax rates are not the same - 10/04/10 04:47 PM
All San Diego County property tax rates are not the same-- so when you're calculating your PITI (principal, interest, taxes and insurance), or just want to know how much you'll really be spending each and every month, please take this into consideration. As an industry, we generally ballpark "taxes" at 1.25%, to allow a little extra room for additional supplemental taxes and insurance, too.
For example, the property tax rate in National City is 1.0127%, whereas the rate for the city of San Diego is 1.12%. Right next door in neighboring La Mesa, it's 1.08%. If you like the beach, Carlsbad … (2 comments)
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la mesa foreclosures: Quit Trying to Outguess the Market. Just put your Best Offer in Now! - 07/23/10 12:47 AM
Quit trying to outguess the market , the seller or the bank. Just put in your best offer!
The other day I was out with a buyer who kept peppering me with questions: when did they buy this home, how much do they owe, what will the bank take, when will they decide, how many other offers are in???
Yes, yes, I always have an initial buyer’s consultation where we discuss the market, what’s important and how to be strategic and win. But some folks feel just compelled to find out every last detail and try to second guess the … (4 comments)
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la mesa foreclosures: Handy Dandy Buyers' Market Guide-- Read ONLY if you want to WIN - 07/12/10 04:43 PM
Whenever I represent a buyer, I write them several emails describing the current market and best strategies to get the home they want. I realize that this is an enormous amount of information, spread out over several weeks and many conversations. So that people won't have to go through and review all these notes, now's a great time to recap all this info on one page: Here's what you DON'T/CAN'T CONTROL: *When they review offers/when they accept offers *If you get a second chance to bid higher. no seller is required to give you a counteroffer *How much other people are … (2 comments)
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la mesa foreclosures: Dear Mr/Ms Buyer-- if it sounds too good to be true.... - 06/19/10 08:09 PM
Dear Buyers-- it's so easy to be fooled-- by ridiculously low prices that some listing agents insist on using just to garner a slew of offers.
And guess what, it works every time!
There's a part in your heart that knows it will never actually sell for that, but still, what if... there's a chance...maybe we'll get lucky this time... these kind of hope-filled thoughts swirl around in the head of every buyer.
This is one instance where it will pay you to be logical. If you've seen the comps, if you know the neighborhood, unless you're a cash buyer, move … (4 comments)
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la mesa foreclosures: Sellers in Distress-- Please be Respectful - 06/07/10 01:48 PM
There are so many sellers in distress these days-- they've lost jobs, income, and now their home-- can you imagine what that would feel like? A home, aside from being touted as the cornerstone of the American Dream, is also tops on the list of Maslow's famous hierarchy of human needs-- it's basic shelter.
Now add in years of working hard to get there, and a little pride and ego (the good kind) and when all of that is yanked out from under someone, it's nothing less than tragic. So it's even more important that buyers treat these sellers with respect … (0 comments)
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la mesa foreclosures: Considering an LLC for a home purchase? Consider this first: - 06/07/10 01:29 PM
Considering an LLC as the vehicle for making a home purchase? If you're looking at forming a multi-person LLC to pool your money to make a home purchase, the first thing you'll be doing is visiting your attorney to discuss the legal ramifications. And here are some key factors to consider from a real estate perspective:
1. LLCs increased in popularity over the past few years as more and more banks started freezing available home equity lines of credit. Suddenly, homeowners who were counting on several thousand dollars to be there waiting and available for whatever purchase they wanted to make, … (1 comments)
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la mesa foreclosures: Is there Life after a Short Sale? - 06/03/10 01:01 AM
Is there life after a short sale? You bet there is, and it's getting better all the time.
Losing your home to foreclosure is a tough and draining, no doubt about it. It's hard not to get caught up in the emotions of the situation-- people feel everything from anger and fear to despondency and helplessness. When you're in the midst of it, it's hard to separate your feelings from logic. But if you can step back for just a moment-- and step outside of yourself, you can start planning for a rosier future, and even another home purchase, when the … (1 comments)
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la mesa foreclosures: When is it TOO LATE to get your (up to) $8000 Tax Credit? - 03/24/10 11:05 PM
The good news is there are still plenty of excellent homes to choose from in San Diego and La Mesa-- short sales, foreclosures and regular sales too. But the clock is ticking on the Homebuyer tax credits of either (up to) $8000 or (up to) $6500. Full rules are at www.irs.gov
As a homebuyer, the deadline to enter into an approved sales contract by is April 30th, 2010. After that you have 2 months to close escrow. So if you're looking at short sales, this means that the seller has to accept your offer and then the bank has to approve … (3 comments)
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la mesa foreclosures: Are you a Buyer or a Dreamer? Here's How to Tell- AND get that BIG Tax Credit - 03/20/10 05:48 PM
If you're considering purchasing a home-- maybe you're inspired in the hopes of getting up to $8000 in tax credit-- here's a quick survival checklist for today's San Diego market.
1. Stamina. Are you in this for the long haul, or just to 'snag a deal'? There are plenty of long waits (3,6,9+ months) , no answers, multiple offers, sales prices far above list price, teaser prices, bank craziness, homes that don't appraise (that really should) and yes, backroom deals that are totally illegal. I'll guide you through the process so you know what's right and legal, what's realistic and what's … (4 comments)
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la mesa foreclosures: The Return of the Request for Repairs-- another Horror Flick, or a Happy Ending??? - 03/16/10 03:09 PM
With so many bank owned and short sale homes, and their automatic answer of NO!!! to any repair request, it was easy to forget how in a regular transaction, the official Request for Repairs had the potential to open up a huge can of worms. In fact many times, this one document singlehandedly put the entire offer back on the negotiating table, and made buyers and sellers feel like adversaries.
Preparation can be the best prevention, so here are a few ideas to help circumvent potential renegotiating trauma. Whether you're representing buyers or sellers, you can really help the process run … (2 comments)
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la mesa foreclosures: 6 timely tips-- How to Prepare Buyers and Sellers for Home Inspections - 03/13/10 06:19 PM
Have you ever had to do major damage control after a home inspector blazed through a home and left the buyers stunned, overwhelmed, and ready to walk, and the sellers incensed, indignant, and not willing to negotiate anymore?
Being thorough, detailed and knowledgeable are great traits for an inspector, but as with many things in life, it's the presentation that sets the stage.
Just had an inspection where the inspector didn't even have both feet out of his truck before he made a negative comment about the house. So as agents, it's up to us to prepare buyers AND sellers … (2 comments)
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la mesa foreclosures: How Many Buyers Really DON'T Understand What's Going On? 8 Key Questions/Answers - 03/11/10 01:53 PM
We live and breathe the real estate market- I must say the words "short sale" and "foreclosure" at least 100 times a day. But it still amazes me how much the general public does NOT know about what's really going on today.
Weekly I'll get calls with people asking:
Q. Can't I just talk with the (preforeclosure) homeowner and take over his loan?
A. -- Banks aren't doing assumable loans anymore
-- You probably don't want to take over his loan because most likely it exceeds current market value
-- You would have to also pay to run a title search … (5 comments)
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la mesa foreclosures: What Happens When Economics and Emotions Collide? - 03/10/10 09:58 PM
Just spoke with two more REALTOR(R) friends today who are personally considering short sales, and are in emotional angst over it having come to this.
I asked them both: how would you advise a client who was in the same situation? For all of us, when it's yourself on the line, our thinking tends to become muddled and laced with emotion.
There's one common denominator with every short sale seller I've consulted-- the first thing they all bring up is the moral dilemma of missing a payment and not honoring their original contract. But most of them are up against a … (4 comments)
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la mesa foreclosures: You learn something new every day... or do you? - 03/01/10 10:58 PM
I'm sure you all have signed up for the daily/weekly emails sent out by NAR and your statewide REALTOR(R) organizations... and I hope you've noticed the Right Tools Right Now series. I just completed the new SFR Short Sales Foreclosures Resource Certification and there is a lot of crucial info there which every agent operating out there should know. I learned a lot-- even though I've been involved with short sales for a few years now-- and the webinars were especially helpful. I did my course online and right now they are waiving the $175 app fee.
Check out the course:
… (2 comments)
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la mesa foreclosures: Would you put a Part Time Doctor in Charge of your Health, and Your Life? - 02/21/10 04:43 PM
Hello to all the buyers and sellers and investors who want the best home, the best price, the easiest/smoothest transaction, the quickest response time, loads up up-to-the-minute info AND a smart guide too--if this is you, may I ask: would you trust your next surgical procedure to a part time doctor? Someone who has another day job and who does surgery in their spare time? Someone who does not have the time to keep up with and make sense of the flood of information and new regulations in this fast-changing market?
I'm probably talking about your buddy or your friend, someone … (4 comments)
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la mesa foreclosures: Walk a Mile in Their Shoes-- and then tell me what you'd like to do - 02/21/10 03:48 PM
Dear Seller, do you know how hard it is for a VA or FHA buyer to get an offer accepted in most markets today? All things being relatively equal, would you perhaps consider helping a vet, maybe as a way of thanking them for their service to our country?
Dear Investor, now that the FHA anti-flip rule is gone, you could create an entire niche of buying/fixing/flipping homes for an eager ready-made audience of FHA and VA buyers. Remember when you were struggling to get to where you are today? And now you've got money and you're able to buy... it's … (1 comments)
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la mesa foreclosures: To Get the House You Want, You'll Have to Lead the Pack - 02/19/10 08:38 PM
Lost out on an offer or two? Here's one of the #1 reasons buyers lose a house they really want: they get there first (that's good) , they put in the first offer (also good) but then, because nobody else has made an offer yet, they either start to doubt how much they really like it, or its value diminishes (to them) because there's not a frenzy of other people pursuing it.
You've got to fight this facet of human nature! Whether it's at a department store sale or on a playground, people tend to disregard an item until they … (3 comments)
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la mesa foreclosures: They REALLY do need us now! - 02/17/10 11:02 PM
Today I met with an older lady who has blazed through her savings helping out her son, and who has paid way too much for dubious home improvement projects suggested by traveling salesmen. She's on a fixed income, with escalating expenses. Should she loan mod? Should she/can she refi? Should she sell and if so, where should she move to and can she even buy? Her debt to income ratio isn't looking too good lately.
Most agents I know have a sincere heart to help, and there are so many people who need good honest people by their side right now, … (1 comments)
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la mesa foreclosures: It Takes Only 10 to Know… Are You Willing to Change your Search Criteria and Win? - 02/15/10 06:14 PM
It used to be that internet savvy buyers would spend a few weeks looking and learning, and then once they targeted their desired area/price/style, they’d view a handful of homes, maybe 3-5, submit an offer, get into escrow and actually close escrow within about a month.
Now if you’ve done your pre-homework and gone to see 10 homes, and still haven’t found what you want, it’s time to change your criteria and your expectations. This number includes homes you’ve scoped out from the outside, then found out there are multiple offers over list price.
A few ideas on how … (122 comments)
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Barb Fischer
La Mesa,
CA
More about me…
RD Brown Real Estate
Address: 2132 Boulders Rd , San Diego, CA, 91901
Office Phone: (619) 461-2244
Cell Phone: (619) 339-1396
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