NEW Required REO Disclosures in California Requires Agents to Step it Up - 12/31/09 07:24 PM

We knew this was coming, and as it is likely to be just the beginning in response to the continued rise in bank owned properties. We have new disclosures now to be applied to REO properties in California and it will require more from the agents.
Bank owned properties (REO's) are usually a haven for major repair issues, structural damage, and code violations. Disclosures concerning property conditions have been considered loose, at best. Having serviced thousands of bank owned properties in the past 4 years for some of the top asset management companies, I can assure you we are only … (4 comments)

REALTOR® versus Agent with Just a Real Estate License. - 12/31/09 05:22 PM
The showdown: REALTOR® versus real estate agent, you know, the guy with just a real estate license who has not joined the ranks of the ethical elite.

Which person is better equipped to represent buyers and sellers in a real estate transaction, the REALTOR® or the person with just a real estate license? 
Consider this, both the REALTOR® and the person with "just a real estate license" have an ethical and legal code of conduct in business according state laws and both still have fiduciary responsibilities to their clients when conducting a real estate transaction. Being a REALTOR® means you have … (35 comments)

The Five Temptations of a Realtor - 12/29/09 07:42 PM
Every one has temptations that we must contend with everyday, and I am not talking about the personal ones Tiger Woods succumbed to, there are already enough blogs on that. I am referring to temptations that every Realtor must face on their road to a successful real estate career.
Inspired by The Five Temptations of a CEO by Patrick Lencioni, here is my take on The Five Temptations of a Realtor. 
TEMPTATION #1- Choosing Status Over Results
Park benches and grocery carts might love your mug shot, but that does not mean you are producing results. Many Realtors base their success on … (140 comments)

Short Sale Experts...Wolves in Sheep's Clothing? - 12/28/09 01:22 PM
Short sale companies and Listing Agents marketing themselves as "Short Sale Experts" are on the rise. This niche in the real estate market was developed out of a real need for the homeowner, but, as in every industry, there are wolves in sheep's clothing, and the short sale industry is no different. 
There are certain companies and agents among the real estate forces silently advertising themselves as short sale closing experts that we need to be cautious of. (emphases on the word "certain") The companies typically begin the short sale sale by having the home owner sign over title (not all do … (1 comments)

Why are Water Leaks Common During the Holidays? - 12/27/09 04:06 PM
Water leaks can be commonly found during the holiday season for several reasons.

1. Families take a vacation and return to find a water stain in the ceiling, a faulity water heater, and toilet leaking. Did the house throw a party while you were gone? What happened? Well, why you were gone water sat in galvenized pipes. Now, it becomes just a middle school science lesson: Water + air + metal= rust. Pinhole leaks form as a result of extended periods of non-running water throughout the house. Over a string of vacations, the rust only gets worse and finally there is the … (0 comments)

Lead Generating or Stalking? (PLUS: Online Stalking Tip Using Twitter) - 12/27/09 02:56 PM
You might be farming and lead generating, but is there such thing as a Realtor stalking people for business?
Stalking: to follow or observe a person out of obsession or derangement.
Farming: to cultivate or produce (generate) a crop.
(American Heritage Dictionary)
Here are 10 reasons why you might be Stalker.
1. You go to open houses of other Realtors and wait outside for people to go in with them. The Ambush Stalker.
2. You go to open houses of other Realtors and follow them home to hand them your card. The Creepy Stalker.
3. You pick up other Realtors … (24 comments)

An Unprecedented Assault on the Construction Industry Before Christmas. - 12/22/09 07:14 PM

Senate Democrats have just targeted the construction industry by placing a last minute provision in a health care reform bill today that could have a devastating impact on the real estate industry. 
The provision calls for mandating that construction industry firms provide health insurance if they employ 5 workers or more, the same mandate currently in place for big businesses. The construction industry is the only one being targeted. All other small business are exempt from providing mandatory health coverage if they employ 50 workers or less. This was a last minute provision thrown into a health care bill they … (4 comments)

Are Realtors an Overlooked Sales Force for Government Programs? - 12/22/09 05:45 PM
"Of course the house needs upgrades, and Uncle Sam has options to help you do this."
 
Perhaps Realtors could be the government's greatest and most overlooked sales force in implementing their newly proposed plans to boost our economy. This is nothing new, the government has an interest in the American homeowner and potential homebuyers and has always recognized the connection between the real estate market and economy. What is new is the sudden onslaught of proposed plans to use homeowners to boost our economy. 
 
For example, The American Recovery and Reinvestment Act (ARRA) has a program designed to use homeowners … (2 comments)

Homebuyers don't know this, so keep your mouth shut. - 12/17/09 12:41 PM
Do you remember when you received actual meals on the airplane? (I am not talking about when all the Realtors were flying first class.) On most flights today you can get excited when the peanuts come for a second round and the flight attendant gives you the full can of coke. I told my kids that back in the day we used to get the full can without asking for it, and even had full course meals. Now, because I let them in on the secret, my kids always ask for the full can on the plane, but we still can't do … (4 comments)

Obama's bringin' sexy back with... Insulation? - 12/17/09 02:51 AM

That's right, it's time to move over Justin Timberlake, Obama is trying to use something else to bring sexy back, and it's called... Insulation.
"Obama Unveils Sexy Stimulus Package" could have been the title of this blog, but I don't want you to get you the wrong impression. I mean, can a stimulus package really be sexy? Well, President Obama has now officially put "sexy" into the economic stimulus plan.
"I know the idea may not be very glamorous, although I get really excited about it. We were at the roundtable and somebody said, 'Insulation's not sexy.' I disagree. … (1 comments)

Who is going to finance the fixer upper and new home repairs? - 12/14/09 01:12 PM
“Minus the safety, security, and cleanliness factors, this house is our dream home!”
Let's face it, this is not your grandma's real estate market. Buying a home in today's market is different than buying a home a few years back. The standards of house conditions have fallen drastically in a relatively short period of time. New homebuyers are no longer expecting to find their dream home that's in move-in condition when escrow closes. The current real estate inventory is cluttered with junky houses and fixer uppers.
Banks are not willing to put in a lot of money into a property they … (1 comments)

Is "moral" fraud the hidden crime in the real estate industry? - 12/10/09 02:40 PM
“The first and worst of all frauds is to cheat oneself”... Philip James Bailey
Let's just deal with this. Moral fraud might be the hidden crime that nobody knows how to address in the real estate industry. 
In real estate circles legal fraud is often associated with predatory lending and the misleading tactics of banks in persuading investors and potential homeowners to purchase bad loans. Fraud is defined as an intentional deception made for personal gain or to damage another individual.
In order for an act to be considered fraud under common law there are certain criteria that must be met.
Basically, a fact is presented … (3 comments)

Google has now been twitterized! Does this change your marketing plan? - 12/09/09 04:34 PM
Have you noticed something new that appears in your Google searches? Google has been Twitterized! I Googled "real estate" and this is what I found... So, Google is now incorporating live updates from sites such as Twitter, MySpace, Jaiku, FriendFeed into the results pages. The tweets literally are displayed in real time into the into a small window in the middle of the search results. If you are wanting to get your tweet noticed under a particular search item, keywords would have to be included in the post in order for the feed to be properly optimised by the search engine. … (1 comments)

Heavy rains freeze the real estate business in Los Angeles. - 12/08/09 01:13 PM
If you are trying to close an escrow in Southern California right now, take advantage of your sunny days. An El Nino advisory was issued in California and the wet winter could cause delays in your real estate transactions and slow the real estate market in Southern California even more than currently it is.
Anyone who lives in Southern California will attest to the fact that when liquid falls from the sky something magical happens. People in Los Angeles forget how to drive, show up late to work, or decide to take off for "rain days" in order to fully appreciate … (0 comments)

What's the most important concern of homebuyers in THIS market? - 12/04/09 12:15 PM
Okay my fellow ActiveRainers,  put on your buyer's shoes....
What is the single most important concern of homebuyers RIGHT NOW, IN THIS MARKET?
Every market creates a different set of concerns and needs for homebuyers, a different set of challenges for homebuyers on their way to home ownership. If you were to ask a homebuyer in this market what their greatest concern is in buying a home in this market, what would it be?
Some examples, but please feel free to use your own!
Getting the best possible price on the home. Getting an offer accepted on their home of choice. Wanting … (2 comments)

Quitting the real estate business?... think again. - 12/03/09 07:44 PM
It's a tough market out there. Real tough. You might want to consider getting out of the real estate business. How much longer are you going to suffer through this insanity?
 
You have built your business on solid principles and systems that once worked, but now those same systems are failing you. Why not spend your time and energy developing a business with more stability and assurance for your future welfare… in fact, if you stay any longer in the real estate industry you might end up on welfare. 
 
The unpredictable and overall state of the current economy and real … (4 comments)

Is voicemail killing our real estate industry? - 12/02/09 06:31 PM
How do you suggest we deal with this problem? There could be a silent killer lurking in our industry... the dreaded voicemail.
Do you get tired of hearing the same message, "Sorry, I am not available to get your call...excuse, excuse, excuse?"

As real estate professionals we are in the communications business. Our primary method of how people engage with us is a huge influence on how our businesses will survive in this market, or any market for that matter. There are a number of choices when it comes to communicating with clients and colleagues... text, phone, email, person to … (68 comments)

Detroit sets out to be nations frontrunner in giving more rights to occupants in foreclosures with ROOF program. - 12/02/09 01:50 PM
Detroit is aiming to be the nations frontrunner in a program that will entitle tenants to live for free or drastically reduced rental rates in foreclosed properties. The program is called ROOF (Retaining Occupancy on Foreclosure). Their mission is to minimize the displacement of former homeowners and tenants and fight off the vacant home crises.  
The developers of ROOF claim that because credit is so tight right now, the sales of REO is problematic and has resulted in the population relocating and neighborhoods destabilizing. They believe that the ROOF program will maintain the integirty of the houses and support a … (0 comments)

Do you verify the credentials of other Realtors and service providers? - 12/01/09 08:25 PM
How many times have you checked the license of a Realtor who just submitted an offer on one of your listings? What about the buyer's agent showing your property to clients?
You receive a call from a buyer's agent from a particular agent's office asking to view your listing. You run your lockbox and find out that the key was not in the buyer's agent's name. You then discover that the buyers agent is not licensed... you know, the same buyers agent that just sent over that offer and plans to negotiate the contract. Is this legal? Is this ethical? 
I … (35 comments)

 
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Jerry Bronstrup

Los Angeles, CA

More about me…

Bristol Builders, Inc. Your FHA Expert 866-775-8169

Address: 25020 Avenue Stanford, Unit 110, Santa Clarita, CA, 91355

Office Phone: (661) 294-1812 x 20

Cell Phone: (661) 816-6949

Email Me


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