My Real Estate Pro

West Covina Housing Market Prediction

2009-10-27T13:33:10Z

There are two divergent philosophies about where the market is heading in the coming months. The figures and trends for the Residential Housing Market. Prices have leveled off, and have actually been steadily rising (by 1-2% growth from year-to-year comparisons). The amount of inventory turning over has been over 500,000 for the past 12 months leading to inventory being low in many markets, and buyer demand is still very high (but is it artificially high).

However, professionals and pundits are reluctant to admit that the worst is over due to the artificial real estate parameters that have been in play. Some have used the stats of the new construction coming to a halt after the California new construction initiative ran out of money after only three months. Many are expecting this to be the case for the residential market, and although I can certain agree with this on a National level I am hard pressed to believe this to be true at the local level.

You can read why I think the local Southern California Real Estate Market will not be affected as much as the National Average.

Don't just hire anyone... Hire a Pro. Licensed REALTOR(s)® California: to list your property for sale or to purchase a property in Alhambra, Anaheim, Arcadia, Azusa, Baldwin Park, Brea, Chino, Chino Hills, Claremont, Corona, Covina, Diamond Bar, Duarte, Glendora, Hacienda Heights, La Habra, La Verne, Monrovia, Montclair, Monterey Park, Ontario, Pasadena, Placentia, Pomona, Rosemead, Rowland Heights, San Dimas, South Pasadena, Upland, Walnut, West Covina, Whittier.

Don't see your city? Ask us about our National Referral Network.

By the Numbers: West Covina's Unique Real Estate Position

2009-10-27T13:32:15Z

Many conversations about where the market will go after the First-Time Home Buyers Tax Credit wears off is escalating, and although the National trend is pointing towards decline in prices and transactions I believe the Southern California Real Estate Market is in a unique situation that will save it from decline.

In West Covina, CA as of 11:02am on 10/27/2009 there are 115 Single-Family Residences available for sale (*Figure pulled from MRMLS and CAROTS data). The average rate that homes have been entering into contracts in West Covina has steadily been 55-60 homes a month. This past month 57 properties entered into escrow. This leaves the West Covina Real Estate Market with just over 2 months inventory on hand. Anything under 4.5 months inventory on hand is considered to be a shortage in inventory. A balanced market would have 5-7 months of housing inventory on hand. With this said we'd have to have almost double our inventory on hand to tip the scale back into the favor of a buyer's market.

This is a lot of homes, and it may make one wonder: Is the projected slow down is enough to drastically shift the West Covina Real Estate markets?

West Covina Housing Market Imperviously Marches on

2009-10-27T13:29:54Z

West Covina, CA- According to the C.A.R. “2009 First-time Home Buyers Tax Credit Survey”, four out of ten (39 percent) first-time home buyers said they would not have purchased a home if the federal tax credit for first-time home buyers was not offered. I know most media reporters say this as a BAD thing, and a sign that the buyers will go back into hiding after they disappear. However, 60% of the first time home buyers are still planning to purchase a home EVEN IF they don't get the First-Time Home Buyers Tax Credit.

Since most homes listed in West Covina under $400,000 are receiving multiple bids, and ALL homes listed under $251,000 are in bidding wars; I feel it is safe to presume that we will not really feel the full effect of a 40% reduction in competition. For fun though, we will suppose that we didn't have multiple offers, and that the 40% reduction in demand will actually have a direct correlation into the West Covina Housing Market Sales(highly unlikely). So our rate of sales would drop by 40% from 57units/month to 34units/month which would raise the West Covina Residential inventory from just over 2 months on-hand inventory to 3.4 months on-hand inventory. This means West Covina would STILL be in a seller's market (due to inventory being low, resulting in competing bids).

So even if the slow down has a direct translation into sales, which I believe to be highly unlikely as we have so many competing offers as it is, the West Covina Housing Market would still be in a Seller's Market. If you're looking to transition from your current home, either to upgrade or down-size, this could prove to be a great time to make the transition. Call us for a free no obligation consultation on how this process could work for you.

Break Down the Barriers that Block your Success.

2009-10-23T17:06:27Z

I had the distinct pleasure to sit down and speak with Mel Austin from The Mel Austin Show this morning. The Mel Austin Show is a refreshing breath where you can enjoy the “Good News” as Mel highlights the positive things happening in the marketplace and in the news. Mel then interviews professionals from a broad spectrum of professionals; including a REAL Live Princess. Our conversation we had this morning will air on his show Monday, October, 26 2009. I was honored to speak with Mel Austin about investing in real estate as a means to financial freedom, and stumbled on highlighting next weeks topic of Integrity. Be sure to visit The Mel Austin Show and begin taking control of your life today.

You can take it to the next level and get involved in his creative and effective accountability groups that help keep you on your path to success through positive support.

West Covina Lyons host No Cost Vision Testing September 26

2009-09-24T17:24:48Z

Need to test your vision? Any visitor to the West Covina Farmers Market may be tested at no cost on Saturday September 26 from 8:30 am to 1:00 pm. The Market is located in the Westfield parking lot between the Firestone Store and Margarita Jones Restaurant on the north side of West Covina Parkway.

Dr. David Hill of the West Covina Lions Club will perform the vision testing using the using the Lions Eye Foundation of Southern California’s Mobile Screening Unit.

So head on down to the West Covina Farmer's Market from 8:30am to 1:00pm THIS Saturday.

The West Covina Farmer's Market is held every Saturday from 8:30am to 1:00pm. It is always in the perimeter parking of the Westfield West Covina Mall. For the freshest fruit at the most competitive price come on out and support your local agricultural businesses.

Is the madness going to end when school starts back up?

2009-08-28T15:56:44Z

I have been recently asked this question and many similar questions recently. My answer to them have been fairly straight forward, but I believe it to be true.

Q: Is the Real Estate Madness going to end when school starts back up?
A: No, I don't believe it will. The current market we are in now began forming almost a year ago to create the artifical real estate market we are in now.

Residential Real Estate prices rose marginally for the past three-to-four months, and I expect this trend not only to continue but actually SPIKE just before the credit falls off. If the prices do spike, there may be a slight dip after the credit falls off, but I believe it will not come back down to where it use to be... So, if you or anyone you know is still waiting for the bottom you missed it... but don't worry there are still some great opportunities out there. You just have to go fight for them.

Don't sit out any longer! Get into the fray, but don't hire just anyone... Hire a Pro!

My Real Estate Pro

1044 W. West Covina Pkwy
West Covina, CA 91791
626.967.8686
www.MyRealEstateRealty.com

The market is always changing, and there is constantly new information to contend with. So for all of your Real Estate needs; Don't just hire anyone... Hire a Pro! My Real Estate Pro West Covina.

Licensed REALTOR(s)® California: to list your property for sale or to purchase a property in Alhambra, Anaheim, Arcadia, Azusa, Baldwin Park, Brea, Chino, Chino Hills, Claremont, Corona, Covina, Diamond Bar, Duarte, Glendora, Hacienda Heights, La Habra, La Verne, Monrovia, Montclair, Monterey Park, Ontario, Pasadena, Placentia, Pomona, Rosemead, Rowland Heights, San Dimas, South Pasadena, Upland, Walnut, West Covina, Whittier. We are always accepting Referrals

Don't see your city? Ask us about our National Referral Network.

Apartment Complex For Sale in Riverside

2009-08-28T12:35:04Z

22 Unit Apartment Complex For Sale in Riverside

"Apartment Properties have historically been the least volatile of all commercial investments and the first commercial properties to recover when markets improve." (Realtor, Sept 2009 pg. 33)

Riverside, CA 92504- A charming 1968, 2 Story Building that is conveniently close to the 91 fwy while residing in a quite tree-lined residential neighborhood. This makes for a very unique investment opportunity because the rent demand is higher due to the living appeal of the neighborhood; while most other apartment complexes in this area are located in commercial or industrial locations. This 22 Unit Apartment Complex has an Elementary school just behind it, and a place of worship adjacent to property giving the neighborhood a pleasant, family friendly feel to it.

22 Unit Apartment Complex Information:

2 Freshly Painted studio Apartments Actual Rent: $700/ea
14 Rehabbed 1bed/1bathroom units Actual Rent: $750/ea
5 non-rehabbed 1bed/1bathroom units Actual Rent: $800/ea
1 2bedroom 1 bathroom unit Actual Rent: $1,000
Currently ONLY 3 vacancies

Tenants pay their own air conditioning, gas, electric and cable. Great, gated pool area and deck area, income producing laundry room, 14 carports and 8 open parking spaces as well as street parking. Building equipped with remote security cameras allowing you to monitor your investment 24 hours a day from the comfort of your home and or office.

Buyer to confirm the following, city in the process of installing new water pipes and gas meters on the street. Please do not disturb occupants, drive by only.

For more detailed performance information on this property please do not hesitate to give us a call 909.227.2516 or contact us.

My Real Estate Pro Realty

Don't just hire anyone... Hire a Pro!

626.967.8686

If you are interested in building your Real Estate Portfolio but don't know how, please contact us, and indicate that you would like information about our Real Estate Investors training seminars. You may be eligible for a free sponsorship into the program... Just ask how.

If you or someone you know is looking to sell their Commercial or Residential investment in Riverside, CA please feel free to pass their name and information along to us and we will gladly follow up with the high customer service that we are known for.

West Covina Fantasy Football

2009-08-27T17:15:32Z

West Covina, CA- Dockside Bar and Grill is hosting a Fantasy Football League. If you want to take your Fantasy Footbal to the next level this is definately the best way to do it. With a LIVE face-to-face draft, happy hour specials all season long and three catered meals throughout the season this is going to be one epic Fantasy Football League.

The Live Fantasy Football Draft will be September 3rd, so be sure to go by the Dockside Grill in West Covina, just off the Barranca exit in Restaurant Row (next to Hooters). The meal will be catered and there are three leagues forming: Beginner, intermediate, and advanced: so even first time fantasy players can relax, learn and enjoy.

With all sorts of awards, prizes, and even drawings your chances of winning something are only bested by the chance that you'll have fun. and all for only $75
YOU GET:

3 catered meals throughout the season (Drafting Party, Mid-Season Stretch, and Fantasy Superbowl Party).
Fantasy bar Specials for every game throughout the season
Prizes for the winners
Door prizes (a chance for everyone)
Free Wireless Internet so you can check your scores while you watch the game!
And much more

Come on out to the Dockside Grill to sign up for the Ultimate West Covina Fantasy Football League with Live draft. Enjoy the food, sport, meet some new friends, and bring a few old ones. Dockside Grill offers the most comprehensive NFL Ticket around, so you can enjoy the games with great food and awesome atmoshpere. Take your NFL experience to the next level with Dockside Grill West Covina.

Stop by before September 3rd to be sure to sign-up and researve your seat today (leagues look like they will fill up) $75 must be in to hold your spot.

Dockside Grill West Covina
3057 E Garvey Ave N
West Covina, CA 91791-1707
(626) 915-3474‎ -Call for more information

We'll see you there :)... Send me your top ten choices for the draft below.

Seth T. J. Miller
Broker Associate | My Real Estate Pro Realty

West Covina Real Estate Market Update

2009-08-21T15:33:06Z

West Covina, CA- The West Covina Real Estate market is in for a crazy next two months. With a historically low number of homes available for sale, coupled with the incredibly high demand for housing is crazy enough. Now throw in the near end of the first time home buyer Government Supplemental Housing credit and... The West Covina Real Estate market is in for a roller coaster of a time these next two months.

Friday, August 21, 2009

Current Available West Covina Homes: 101 (33.7% are distressed properties)
# of homes sold in the last 30 days: 75 (new jump in sold homes... Average fore the previous six months was 60)
# of Months inventory on hand: 1.34 Months (A 'normal' market would have 5-7 months inventory on hand)

If you or someone you know is looking to sell their West Covina home; these next two months look to be a good time to do it. Prices have already slightly rose over the past three months, and with the credit coming to an end, and inventory so low I expect to see a spike in the price with buyers fighting to get into a home before the $8,000 credit opportunity is gone. This may be a rare opportunity to sell when the artificial demand for property is at its highest.

I call it an artificial demand because I believe there are still factors that may cause prices to come back down. One factor is what happens to buyer's demand after the incentive to buyers falls off? If the number of buyers dissappear when the credit does this may cause the available inventory to creep back up. The other factor is the banks efficiency to the foreclosure process. Their is a surplus inventory of 'bank owned' properties, also commonly referred to as REO properties, that the banks cannot foreclose on. The banks were already having a very hard time keeping up with all of the foreclosures, and when the Government stepped in with the 90-day moratorium this backed them up even further. Then the government decided to put the burden of proof on the lenders to show they tried to do a workout program with each and every property before foreclosing on it, and the process got slower.

West Covina's Artificial Real Estate Market

2009-08-21T15:27:29Z

West Covina, CA- Prices have been low and demand has been high ever since the Government introduced the first time home buyers credit. Anyone who passed High School economics with a C should be able to tell you the price is going to go up, and IT HAS already begun to rise over the past three months. The inventory has been steadily declining ever since the government implemented the 90-day moratorium on Foreclosures, and exacerbated the already slow foreclosure process by putting the burden of showing they offered a work-out option for the current owner.

The high demand was artificially created when the government stepped in and offered a bonus, which despite it having dramatic effects, they re-sweetened several times. The inventory is artificially low due to a lack of foreclosed properties being available that would otherwise be subsidizing our low inventory count. So we are in an artificial Real Estate Market, and the pain of this has been drug out longer than necessary.

The market is always changing, and there is constantly new information to contend with. So for all of your Real Estate needs; Don't just hire anyone... Hire a Pro! My Real Estate Pro West Covina.

Licensed REALTOR(s)® California: to list your property for sale or to purchase a property in Alhambra, Anaheim, Arcadia, Azusa, Baldwin Park, Brea, Chino, Chino Hills, Claremont, Corona, Covina, Diamond Bar, Duarte, Glendora, Hacienda Heights, La Habra, La Verne, Monrovia, Montclair, Monterey Park, Ontario, Pasadena, Placentia, Pomona, Rosemead, Rowland Heights, San Dimas, South Pasadena, Upland, Walnut, West Covina, Whittier. Don't see your city? Ask us about our National Referral Network.

Take control of the Chaos…

2009-08-04T12:51:45Z

Chaos is the default position of the world. Anything left unattended, eventually, will succumb to this natural position. This is as true with your room, as much as it is for your business, and also for your relationships. It takes energy to prevent chaos from taking control of your life.

This energy can be in the form of cleaning up your bedroom, or cleaning up the clutter on your desk at work, or putting the time to ask how someone's day is going AND actually be interested in the answer. Consider the continuous ‘up-keep' and expenditure of energy as ‘preventative maintenance' of your life. So take control of your life, and beat back the hold that chaos has on your life.

Create a schedule AND stick to it! Predictability gives stability: in your business and your relationships alike.

Raising the standards with My Real Estate Pro Realty. Experience the difference a professional brings.

West Covina Real Estate Snapshot update

2009-06-25T12:41:33Z

WEST COVINA, CA- The Real Estate Market is always changing, so when you or someone you know is looking to buy or sell real estate don't just hire anyone... hire a pro! My Real Estate Pro West Covina

West Covina Real Estate Single Family Home Snap Shot

Thursday, June 25, 2009

Available West Covina Single Family Homes: 139
Pending Homes (last 30 days): 64
Minimum Sales Price (last 30 days): $149,000
Maximum Sales Price (last 30 days): $1,788,000
Average Sales Price(last 30 days): $568,165
Inventory on Hand: 2.17 months (sellers market 7)

West Covina is in a very unique housing situation in which low prices coupled with government stimulation have created a very high demand for buyers that has greatly diminished the housing inventory in Los Angeles County creating a 'seller's market'. Now the relatively low prices and low interest rates makes for a great time to purchase real estate in West Covina, the high demand and low inventory is making bidding wars, and above listing price offers common place.

Just as every home is unique, each and everyone of our listings has a marketing plans custom tailored to highlight and market the home to the fullest and most efficient ways possible. We limit our number of listings to 10 to ensure prompt quality of service, but we currently have spots available if you or someone you know is looking to list their home with a professional.

For all your West Covina Real Estate needs;

don't just hire anyone... Hire a Pro! My Real Estate Pro West Covina

Seth T. J. Miller | My Real Estate Pro West Covina Broker
Carolina Chacon | My Real Estate Pro West Covina Broker Associate

Don't just hire anyone... Hire a Pro. Licensed REALTOR(s)® California: to list your property for sale or to purchase a property in Alhambra, Anaheim, Arcadia, Azusa, Baldwin Park, Brea, Chino, Chino Hills, Claremont, Corona, Covina, Diamond Bar, Duarte, Glendora, Hacienda Heights, La Habra, La Verne, Monrovia, Montclair, Monterey Park, Ontario, Pasadena, Placentia, Pomona, Rosemead, Rowland Heights, San Dimas, South Pasadena, Upland, Walnut, West Covina, Whittier.
Don't see your city? Ask us about our National Referral Network.

Happy Father's Day Poem

2009-06-19T18:54:01Z

Happy Father's Day Peom

author unknown

A Dad is a person
who is loving and kind,
And often he knows
what you have on your mind.
He's someone who listens,
suggests, and defends.
A dad can be one
of your very best friends!
He's proud of your triumphs,
but when things go wrong,
A dad can be patient
and helpful and strong
In all that you do,
a dad's love plays a part.
There's always a place for him
deep in your heart.
And each year that passes,
you're even more glad,
More grateful and proud
just to call him your dad!

West Covina | It's a Seller's Market!!?

2009-06-13T14:41:14Z

When I tell most people that West Covina IS a seller's market; they tend to nod and then try to correct that it is a buyer's market. I smile and assure these people that although it is still a great time to buy, it is certainly no buyers market...

A buyer's market is indicative of a high inventory (over 7 months) which would mean that the buyers would have a large quantity to choose from, and they could afford to be more picky. A neutral housing market is when the supply is between 5-7 months inventory available, which would make for standard transactions where neither party really has a negotiating edge. Where a sellers market is when there is a shortage of inventory (below 5 months supply) which means that if one buyer is too demanding or expecting credits or repairs the seller probably has back-up offers that are not as picky.

West Covina is currently a seller's market having only just over 2 months Single Family Residence inventory on hand with 44.4% being distressed property. The West Covina Condo and Town Home inventory comes in at just under 3 months supply of inventory with 73.5% distressed.

When purchasing in West Covina you can expect that there are going to be multiple offers, and potential bidding wars. Try to keep your offers as attractive as possible, and remember... Don't just hire anyone for your West Covina Real Estate needs, Hire a Pro!

West Covina Water Acquisition, and Drought Prevention Plan

2009-06-06T11:40:26Z

West Covina, CA- In a tri-city cooperative effort, West Covina joins in with La Puente and City of Industry in a $62million dollar Water Recycling Project that will yield over 1.2billion gallons of water a year for the San Gabriel Valley. The project begins by putting in roughly 12.4 miles of pipeline, building two reservoirs, one pump station and a pressure reducing station. The project is expected to be completed by 2012.

Suburban Water System Service provider are the first homes to benefit from this project in West Covina. Mostly homes located in the prestigious South Hills of West Covina are serviced by the Suburban Water Service. It is important to note that when buying a home that is serviced by the Suburban Water Service that you need to own stock within the company. So don't just hire anyone to buy or sell your South Hills Property... Hire a West Covina Real Estate Pro! Things you need to know:

Suburban Water Service stock should be conveyed when the South Hills property is sold.
The seller cannot charge to convey this stock.
If it is not conveyed the new owner will not be able to turn on their water.
- You can go back after the sale to convey the stock (they still cannot charge you for it, but it is a headache)

*Not all South Hills Properties are on the Suburban water System... Before purchasing a property you should verify this with

Don't just Hire anyone... Hire a Pro! My South Hills Property Pro!

Seth T. J. Miller and Carolina Chacon

Office: 626-967-8686

Make sure the Short Sale is the end of your problem!

2009-04-27T16:34:12Z

Don't let common Short Sale pitfalls come back to Haunt you!

As we see more and more warnings coming out about the banks slipping some sneaky verbiage into the closing settlement and acceptance of short sales (What is a Short Sale?). Such as this article By Zach Fox - Staff Writer for North County Times: EXCLUSIVE: Lawyers say lenders set stage to collect on 'short sales' Foreclosure may be better option for some struggling homeowners. I first find it very important to note that the representative from Countrywide (now Bank of America) stated that if they are challenged on this verbiage they will drop it off. I also want to stress that the verbiage may not be as forward or plain as they indicate in this article. As I showed in my July 31, 2008 post on Recourse vs Non-Recourse Loans in California the importance of differentiating from 'Released' vs 'Satisfied'. So what's the bottom line solution?

Hire a Real Estate PRO!

It is very important if you are going to list your home as a short sale to hire a pro that will follow the entire transaction through for you, and who isn't afraid to walk away from the deal (unpaid) in the end if it turns out that foreclosure will be a better option for the client (not the Realtor's checkbook ;)...).

If you or someone you know is in need of a professional Realtor that stands with integrity please do not hesitate to let us know, we are always accepting referrals.

Seth Miller | West Covina Real Estate Consultant

Associate Brokers Real Estate Hound West Covina

www.MyRealEstatePro.net

Who is My Real Estate Pro

2009-04-27T15:49:24Z

My Real Estate Pro | West Covina Real Estate | Real Estate Hound

Both Carolina and Seth, My Real Estate Pro founder's, are extremely well educated Realtors® and they continue to educate themselves in the ever growing field of technology based business. They continuously attend personal development seminars to increase their personal capacity to assist you in reaching your real estate goals.

Carolina Chacon, originally from Colima, Mexico, is a full time Broker Associate with Real Estate Hound. She is honest, caring, informed, and committed to providing the highest degree of integrity, professionalism, and hard work to buyers and sellers to help them achieve their real estate goals. Carolina not only establishes relationships of trust always looking out for her clients' best interest, but she is an expert negotiator. "If it is out there, I can and will get it for you!"

Carolina, US Army Veteran, graduated from the Academy of Health and Science at Fort Sam, Texas and completed her internship at Tripler Army Medical Center in Honolulu where she received her Army designation of "Operating Room Specialist.” Her biggest achievement was being a part of the open-heart team at the Tripler Army Medical Center in Hawaii.

Seth Miller, originally from Berthoud, Colorado, holds a California Real Estate Broker's license. Seth is a vibrant, personable individual that is honest and highly committed to the endeavors he undertakes. With a high attention to detail coupled with a dynamic, creative personality Seth continuously strives to be the best that he can be, and he strives to achieve this with a lifelong learning philosophy.
Seth relocated to West Covina, CA after graduating from Chaminade University of Honolulu with a B.A. in Psychology and a B.S. in Environmental Studies. His dedicated service to his community was exemplified by his Chaminade peers awarding him Student Leader of the Year his Sophomore, Junior, and Senior years, and the Faculty and Staff highlighted him as Student of the Year twice for his Junior and Senior years.

My Real Estate Pro is more than a successful Real Estate Team. They truly care about the needs of their clients and community. This is evidenced by the time they devote back to the West Covina Community. Some of the organizations they are associated with are as follow:

Carolina:

Board of Director of the East Valley Community Health Center
2007-2009 President of West Covina Beautiful
Member of the Red Hat Society
Past President and Board Member of the West Covina Chamber of Commerce
Past President of West Covina Rotary Sunrise
Recipient of the 2005 West Covina Community Service Award

National Association of Realtors® (NAR)
California Association of Realtors® (CAR)

When not working hard to meet the needs of their clients or serving their community, My Real Estate Pro enjoys fellowship at Faith Community Church, spending time with their family, going on motorcycle rides, and reading. They enjoy the outdoors: hiking, camping, tennis, golf, and skiing. Listening to people is a passion for My Real Estate Pro. Carolina said "Every single person is so unique in their way of thinking, speaking, and relating to others. I find it to be very fascinating."

Combining their extensive knowledge of the physical and cultural landscapes of West Covina and neighboring cities in the East San Gabriel area, and their expertise in Real Estate, you can feel confident that My Real Estate Pro will produce results for you! Contact a Pro! today. We welcome the opportunity to earn your business!

Los Angeles County Luxury Homes for Sale

2009-04-27T15:22:41Z

Having troubles locating one that can adequately live-up to your dream luxury home expectations. The MLS may seem to be in a constant state of short supply on such grandeur beauties, but you don't have to wait for the occasional NBC Article informing you of available masterpieces; they just seem not to be 'traditionally' listed for sale. So contact your local Luxury Home Specialist, and find out more about how a confident Realtor can help you. The home does not have to be listed for sale for the owner to be entertaining offers, and it all comes down to how your agent presents this offer.

If you're in the market to buy a luxury property is Los Angeles County or Orange County don't just work with anyone... Hire a Pro!

Solid Commercial Investment Opportunity 70% off!

2009-04-24T15:01:52Z

Great long term commercial investment! This property is bank owned and they’re in a hurry to get rid of it. The 'Fair Market Value' of this property is easily $1.6 Million, and they just dropped the price below $500,000. There is a long term lease out on the property, and it is a zero expense property (triple net). The property is on a main street surrounded by strong commercial properties. Just off a Freeway exit, and has a drive through. Sound too good to be true?

Now to the down turn: The lease is: $1,100/month(WAY, WAY UNDER) with a rent cap that only allow rent increases of 3-4% every 3 years(end of this year is due for an increase), they have the lease until 2030, and depending on your financing you'll be gaining a 3-5% ROI! However, I still think it is a great commercial investment!

This is still a great Commercial Investment because if the lease didn’t exist the current market value of this property is easily $1.6M. I know that the short term commercial market is giving way to some great deals right now, and that will not be the case forever. So I expect that it is very safe to assume that this property will appreciate to greater than $1.6M in the next 20.5 years. However, in my conservative approach, I only used $1.6M for the estimated sales price, and assumed you decided to sell after the lease period was over (The other option is to begin receiving fair market rent and enjoy your positive cash flow until you're ready to cash out) and I gave a 6 month time frame to finalize the sale. The range came in and on the minimum end(depending on financing terms and interest rate) you would still be over 15% ROI just in the cash out (average total long term investment is considered to be 8%)! This doesn't take into account for appreciation of the property, and there are alternative ways to finance the property that would greatly increase your return. The over 15%ROI also doesn't take into account that in the 20 years that you hold the property prior to the sale you'll be gaining only 3-5%ROI. This is a long term investment, it is safe, low maintenance and relatively worry free. This is a great property to put into a Trust, and just watch the appreciation grow!

You could arrange financial terms in which you pay a small portion of the financing every month (above and beyond the $1,100 month that the rent would cover) that will be offset in the tax benefits you will receive from owning this property to increase your total ROI. However, if you don't want the burden or hassle of managing paying the monthly fee and you would like that what the tenant pays to cover all of your obligations in the property then you'd need to bring $250,000 cash to the table. Bring more if you want a positive cash flow out of it. If the tenant defaults or vacates on the lease prior to 2030 you'll actually be in a better investment position because you'll be able to turn around and sell the investment for a much higher ROI immediately, or begin collecting fair market rents on the property, and enjoy the great positive cash flow until you're ready to cash out. Any sales price above and beyond $1.6M will mean a much higher ROI.

This is a low maintenance, long term, great investment for anyone looking to secure their trust or financial future. This will not last long so if you or someone you know is looking to secure their financial future this is it.

Great deals move quickly! If you would like to be put on our Investors Mailing list please fill out this form and indicate what type of investments you're looking for (cap rates, ROI, commercial, residential, etc.), and we'll make sure you hear about deals that match your criteria. We also work with a short list of our Premier Investment Clients. Our Premier Investment Clients get a 2 hour head start on any investment opportunity that we find. If one of them takes it within those two hours we don't send it out to everyone. We currently have a few spots open and if you would like the details in joining us as a Premier Investment Client please let us know.

What do I have to do to be a Premier Investment Client with My Real Estate Pro?

The best deals move fast. REALLY FAST. Most of the time they are gone before they ever hit the market. To make sure that our Premier Investment Clients never miss out on a deal to be a Premier Investment Client with My Real Estate Pro we need all the necissary information to submit an offer as quickly as possible. So we have to have on file:

Initial Deposit Check (there is not a fee to join or maintain the Premier Investment Group membership)
Proof of Funds
Financial Qualification letter from your lender
Have the ability to submit an offer within one hour (we have several options and ways to make this convenient and easy)

Let us know if you would like to be a member of our Premier Investment Client short list, and we can arrange our no obligation, no hassle exploratory meeting to make sure that we are the best fit for you.

Seth T. J. Miller and Carolina Chacon
Real Estate Hound Broker Associates
My Real Estate Pro!

Properties and listings sold were not necissarily represented by the advertising Broker.

Set-up your Outlook to automatically responed

2009-04-23T21:48:28Z

This is a response to the Member's-Only post Tricks & Tips to accepting the BPO Blasts...Does anyone know and want to share?? Help? by Dawn Barrier Las Vegas Short Sale-REO Pro . The question is how to set-up up your e-mail to automatically respond to specific e-mail.

To begin, you'll need to create a "specific template" that you want to be your automated reply. I know the video claims you can make adjustments before sending but save it as instructed and leave the To: field blank and it will go out immediately and as is. So don't count on making any changes.

After setting up your template the easiest way to setup the auto response is to right click on the e-mail that you wish you would have automatically responded to, and then select "Create Rule..."

In the bottom right hand corner of the box that just opened click on "Advanced Options"

In the advanced options you have several steps to go through to set up the automatic response. You'll need to set-up how Outlook can identify what e-mails you want to respond to. Since you right clicked on the e-mail you'll notice that the subject line, and the sender are already filled in. If you need to change either of them just click on the blue hyperlink in the lower box and you'll be able to modify it.

I recommend that you be as specific as possible. If you've received multiple emails from them look for the common phrase or unique subject line to narrow it down. I recommend that you select the sender and the subject line.

Don't worry too, too much about 'over defining' it. You'll be able to list exclusions in the third step.

Click 'next' and in step 2 you will define what you want to have automatically done. The first option I recommend is to move it out of your in-box and into a separate folder. This helps to keep your inbox from getting cluttered, and you'll spend less time sifting and manually sorting your e-mails. The second option is just that 'optional'(if you use color coordinated assignments).

The third box checked is the one that will make it automatically respond. After checking the box make sure you click the blue hyperlink 'A Specific Template' and select your template that you filled out and saved. Remember to make sure that your template says exactly what you want it to say because this will automatically go out (provided your outlook is open and running).

Click 'next' and proceed to step 3 (you're almost done :)...)

In this step you'll want to include exclusions. These are parameters that when present the automatic responder WILL NOT take place. I recommend that you add the words Re: and Fwd: to prevent the same e-mail from being sent again after they respond ;). Take a look at some of the other options while on this page to make sure that you're automatic responses only go out when you want them too.

Click Next, name your Rule, and then click Finish. You will now be automatically sending e-mails to the specifications and parameters that you set-up. Please note that since this is through Outlook it will automatically reply ONLY when it is downloaded (not necessarily when it is sent). So you may want to check how frequently your outlook is set to download your e-mails. Good luck ;).

Don't just hire anyone... Hire a Pro! My Real Estate Pro!

West Covina spring cleaning is here!

2009-04-11T15:17:45Z

It is time time of year again. The early flowers are already begining to bloom. I've heard we're suppose to get some rain to help spring board the spring time colors. And of course the annual tradition of cleaning out your garage, closets, drawers, and storage spaces. I know a wonderful spring cleaning always leaves me feeling good!

The City of West Covina is helping out to make it easier than ever to do your spring cleaning. By offering a series of programs that all get kick started on Earth day April 18th, 2009!

The first event is a once-a-year UNLIMITED PICK-UP of house hold trash. Just place the items at your curb by 6a.m. on your designated Saturday. So clean out that clutter and trim up and clean out your trees bushes and garden beds. These Saturday pick-ups begin April 18th so be sure to check what day your pick up is and take advantage of this program! Also be sure to look at what items are not elidgable for pick up. One such item is electronic waste which leads into the other program going on this month!

E-Waste Round-up is intended to properly dispose of electronic that is otherwise illegal to dispose of through your regular trash service! The date is set for April 18th from 9am to 1pm click here for more information and location details. For information on Household Hazardous wastes or for upcoming Round-Ups, call 1-888-253-2652 or the City's Public Works Maintenance Division 626-939-8458. You can also visit: www.888CleanLA.com or www.lacsd.org.

Let's all work together to help keep West Covina Beautiful.

Seth Miller and Carolina Chacon

West Covina Real Estate Pro | Associate Brokers

www.MyRealEstatePro.net

What's my Home worth?

2009-04-10T15:37:40Z

Oh the age of technology... Automated computer generated Comparative Market Analysis and neighborhood profiles complete with aerial footage delivered at "high speeds" direct to our fingertips. Although they're still off, I must admit they have come along way... To the point where I was at my client's house last night and as we went over the printed materials I brought they wanted to double check it against this web-site... I laughed and thoroughly did enjoy seeing their excitement and enthusiasm as they perused the neighborhood from an aerial map that showed rough property boundary lines, and as they pulled up recent sales and comps, in a manner quite similar to that of a child ripping through the presents in a stocking on Christmas day... I asked them if they thought I should incorporate it into my web site and their feedback was overwhelming yes.

I'm providing a few samples below, Let me know what you think, and most importantly do you think I should incorporate this into my web page? You may either view a full page (that would be iframed within my websites header and side bars), or see it below the linked image.

Please remember to leave your feedback below. Thank you for reading.

Don't just work with anyone... Hire a pro

Licensed REALTORs® in California Hire a Pro to list your property for sale or to purchase a property in Alhambra, Anaheim, Arcadia, Azusa, Baldwin Park, Brea, Chino, Chino Hills, Claremont, Corona Covina, Diamond Bar, Duarte, El Monte, Fullerton, Glendora, Hacienda Heights, La Habra, La Puente, La Verne, Monrovia, Montclair, Monterey Park, Ontario, Pasadena, Placentia, Pomona, Rosemead, Rowland Heights, San Dimas, San Gabriel, San Marino, Santa Fe Springs, Sierra Madre, South El Monte, South Pasadena, Temple City, Upland, Walnut, West Covina, Whittier. We Are Always Accepting Referrals!

A New Form Of Identity Theft--Agents AND Consumers BEWARE of Craigslist Scam

2009-04-06T15:35:41Z

Another scam surfaces! Please be aware and help spread the word. Thank you Debie for calling this to our attention!

Via Debe Maxwell Talk Charlotte with Charlotte's Realtor® (Helen Adams Realty):

A New Form Of Identity Theft--Agents and Consumers BEWARE of Craigslist Scam

PLEASE: RE-BLOG to spread the WORD!

I post all of my listings on Craigslist from my website, among many other sites. I began receiving calls about my 'rental' that was on Craigslist. It was regarding a brand new listing that was posted there and the home was NEVER listed for rent and won't be--it is strictly FOR SALE. Several callers had seen 'my ad' for $800/month rent with a $400. security deposit and wondered if they could see the home! They find my number when they drive by the home for sale, grabbing it off of the sign.

I finally was able to get one of the callers to email me the information that the 'other' Debe Maxwell had sent her and the DebeMaxwell06@gmail.com that was being used for correspondence. When I check for the ad on Craigslist, it has been removed. I received another call yesterday and the ad had been removed once again.

The 'other' Debe Maxwell is reporting that he and his wife have had to leave their home to do mission work and are renting for only $800/month with a $400 security deposit to be sent following a brief lease application that is included in the body of the email. Here is the scammer's contact information:

"The rent is $800 and 400 for Security Deposit.
For this 3BR/2BA. Below is my contact,
0112348082008226 or +2348082008226
DebeMaxwell06@gmail.com"

I do NOT have a DebeMaxwell@gmail.com account (with ANY numbers after my name!)--If you respond to an email like this, it is NOT me! Consumers BEWARE!

I'm assuming that this fraudulent scammer is giving a false address and a real but, temporary banking account in which the tenant-not-to-be will transfer the $1,200 funds when the Craigslist customers call. I don't have the time nor the bandwith to phone this guy and 'catch' him and I'm hoping that the government agency to whom I've reported this DOES! I have warned my Seller and my agents who hold open houses here as well. I want every bit of information that the potential tenants can gather for me to report these frauds!

It's a crazy world out there--identity theft is a bear if you're scammed! BEWARE!

About the author:

Debe Maxwell is a Charlotte Residential Real Estate Broker, Certified Neighborhood & Relocation Specialist, ABR & e-PRO who can assist you with the purchase and/or sale of real estate in the Charlotte NC Metro Area. If you're relocating to or from any other area of the country, Debe connects you with any member of her team of relocation professionals in your destination or exit city of choice. The destination service is of no cost to you! The Maxwell House Group's quality service guarantee puts this team far ahead of the competition; providing unsurpassed customer service is their #1 priority! Debe Maxwell -- Helen Adams Realty -- 704.491.3310

Copyright© 2009 By Debe Maxwell, All Rights Reserved...**A New Form of Identity Theft--Agents and Consumers BEWARE of Craigslist SCAM!**

Disclaimer: All information provided by this author is strictly an opinion, is not guaranteed, may be based on information collected from several sources, which may or may not be deemed reliable at the time of researching this article and may be time sensitive.

Check out the schools, then let's go shopping for Charlotte NC homes for sale!

The Real Estate Hound team

2009-03-06T13:09:00Z

There is simply no substitute for knowledge and dedication. Whether you're aiming to buy or sell property, a REALTOR® can be the difference between a smooth transaction and an unsuccessful one. We strive to provide best possible quality coupled with a positive experience. It is my distinct pleasure to announce that My Real Estate Pro has joined forces with the ever dynamic Real Estate Hound team.

The Real Estate Hound team is dedicated and knowledgeable and provides their clients with highly specialized information that helps their clients make the right decisions. Through the combination of unique market-knowledge and excellent negotiating skills that enable this team to get the optimal price for any property you plan to sell or buy.

Trust is hard to come by in today's fiercely competitive real estate market. Real Estate Hound is here to provide you with professionalism and integrity needed to ensure that you feel secure in what can be one of the biggest decisions of your life.

Please feel free to use this website as a resource for all your real estate needs, and if you have any additional questions, contact them today!

Real Estate Hound

219 N Indian Hill Blvd Ste 201
Claremont, CA 91711
Direct: 909.625.4663
Fax: 909.625.4664

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The Housing Assistance Tax Act of 2008

2009-02-24T15:18:15Z

The Housing Assistance Tax Act of 2008

“Who Qualifies?”

First-Time Homebuyers who purchase a home between April 9th, 2008 and July 1st, 2009 could be eligible for an I.R.S. tax credit of $7,500. Any taxpayer who has never owned a home as a principal residence (or within the last 3 years) For a single taxpayer with an adjusted gross income (AGI) of $75,000. If income is higher, the credit decreases and disappears altogether above $95,000. For married couples with an AGI of $150,000. If income is higher, the credit decreases and disappears altogether above $170,000

“When do I get my money?”

You get your money only after you claim the credit on either your 2008 or 2009 tax return, NOT when escrow closes on the home. However, you can speed up the process if you amend your taxes and still receive the credit this year!

“What’s the Catch?”

Although they call it a credit, it’s really an interest-free loan you must pay back over a 15 year period ($500 per year) and starts two years after you take the credit. You either get $500 less on your taxes or you owe $500 more in taxes. If you sell your home or rent it out before the 15 years, you will have to pay the balance remaining on the credit on the tax return for the year the house was sold.

Did you know you can still purchase with only 3.5% down payment and interest rates are still in the 5 percent range?