Benny 's Blog

BUYERS PRICES ARE LOW!! GET WITH THE FLOW!!

Benny Chavez (CHAVEZ GROUP at Prudential California Realty) — Thu, 05 Jun 2008 17:47:49 -0500

BUYERS IT'S TIME TO BUY!!!

PRICES ARE LOW
YOU CAN PICK AND CHOOSE FOR YOUR HOME
GOOD LISTING AGENTS ARE PRICING HOMES USING BANK OWNED COMPS
THE PRICES 90% OF THE TIME ARE RIGHT
SELLERS KNOW IT'S A BUYERS MARKET AND ARE NEGOTIATING
AGENTS ARE FOCUSING ON SERVING BUYERS BETTER THAN EVER
THE MARKET IS PICKING UP AND YOU NEED TO GET WITH THE FLOW!!

MOM is the best!

Benny Chavez (CHAVEZ GROUP at Prudential California Realty) — Sun, 11 May 2008 12:54:00 -0500

Only fond memories exist of MOM, where do I begin. From my first memories as a little boy getting taken

to Disneyland on a RTD bus to having all my birthdays at Numero Uno pizza in Koreatown. Mom would

always make sure I had everything I wanted. Spoiled I guess to what she could afford and even then Im

sure she would hold off on buying herself something only to buy me something. Coming home from work

to quickly make dinner, always making sure to have seconds for me. "Finish all your food, are you full? I

still have more food if your not full!" I also remember mom taking me to work with her. There was nothing

that could ever stop her from making sure I was all right. Even as I got older mom would always be there

to take my calls when necessary anything whatsoever and mom would drop whatever she was doing to

take care of me. I guess moms can prove to you what true unconditional love is. Mothers day shouldn't

be the only day to reflect on all the good mom has done and celebrate her. Mother should be celebrated

daily! In the end we are who we are thanks to mom. We wouldn't know that ultimate kindness if it weren't

for her. Thank you mom for always being there, from all the little things like making sure I looked good

on my first date, to babying me when sick. I love you and thank you with all my heart for being MOM!

THE TERRITORY AHEAD............

Benny Chavez (CHAVEZ GROUP at Prudential California Realty) — Sun, 20 Apr 2008 11:35:11 -0500

When it seems like everywhere we look it's a negative story, Reo, Shortsale, Forclosure, Unemployment, We

have to look for the good in the bad! The high number of losses of homes nationwide has made obtaining

financing a more stringent operation. When speaking to my current clients about the market situation, I have

had to educate them about welcoming a low prequalification amount. The dissapearance of high risk-stated

income 100% financing has brought a positive. You have to remember that the last thing our economy needs is

another nationwide crisis, we are not done with our troubles and god only knows when they will end but for now

we are making sure that clients get into the right home with the right financing and security. The majority of

people who were financed 100% loans had the dream of home ownership, and I don't blame them, I blame

predatory lenders who made it happen. You have to think that for a lot of people a home is the single largest

investment they will ever make. The initial investment for many folks is all they had accompanied by the dream.

We have to make sure that this never happens and that clients understand the importance of facts during

the process of a prequalification. Over the last four months I have had clients qualify for fha financing as low

as $210k which in my area doesn't even get you a condo. To the clients who have gotten this qualification I have

had to tell them to wait or add co-signers, I'm sure these same clients heard 2 years ago about being financed

for a $600k property at 100% with their same situation. The look on these clients face is not as bad as I would

expect. They are starting to understand that if they qualify for a lower amount it's for their security. If I was

buying a home I would like to stay in it and raise my children and watch my family grow. I don't know if I would

handle the loss of my home even if I had only lived in it for two years. The territory ahead is a tough strugle with

banks to get clients qualified, a time to look back at the negative to make a positive. To make our economy a

more stable one, and to have our clients achieve the dream of home ownership. Only you can make it happen!

Slow Sailing in a second job Market!

Benny Chavez (CHAVEZ GROUP at Prudential California Realty) — Wed, 16 Apr 2008 00:05:23 -0500

Slow sailing in a second job market!

The question that lurks in my head is : How long will this slow market last?

Well some say till 2010, some 09, I said 08 and here we are. Contrary to what I thought the night of New Years

Eve 2007 when I toasted to a very successful 2008 year filled with smiles and good feelings. I find myself in

what was once a large numbers brokerage firm. One who transacted over 75 closed sales per month, to what now

is only about 25 per month. Month number four and personally I have zero transactions on the board for the

first quarter, I have have submitted a numerous amount of low ball offers for clients who speculate the market

will go lower than where we are and therefore are low balling so as to not take a hit. Agents in my office who

have a steady 10-20 listings have not moved any of those listings due to the prices being high with all the

comps coming from REOs and Short sales. The particular story that made me realize how bad it is was when a

very optimistic agent in my firm who always had the following to say when asked how life was, " Fascinating, 2

closed escrows this week, 1 scheduled to open next. Who knows what next month is like but I just might be

buying a new house!" this agent changed his optimistic view on life monday to what nearly knocked me out of

my seat, "working part time for PIZZA HUT doing delivery, yknow a little extra gas money to drive buyers around

town....... it's slow." Almost made me feel like the Donald was about to say "YOU ARE FIRED!" How incredible will

it get? Are we paying a price for the huge sucess of years past? Why are so many agents leaving what was once

a successful enterprise to go and hammer it out with the pizza man? I don't know what to expect anymore......

hopefully our nation will recover and once again our market will become a flourishing one. When people ask me

so Benny why Real Estate why not something else? I answer, I love my Country, I love my state, and I love

seeing dreams come true that's what our country is made of.