los angeles real estate agents: Unemployment rate drops to 7.8% in October
- 10/05/12 10:00 PM
Unemployment rate drops to 7.8% in October
It seems that our current administrations plans for economic recovery are hard at work. From an economic standpoint, it takes an extremely methodical and well-planned approach to combat such severe economic depression.
I'm glad to see the progress that is being made.
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los angeles real estate agents: Let's admit to the elephant in the room: Listing agents are manipulating the process to double-pop their listings
- 09/30/12 07:33 AM
Let's admit to the elephant in the room: Listing agents are manipulating the process to double-pop their listings
I've been writing tons of offers for my buyers. Some of them ridiculously over asking with terms that are just short of pledging their next unborn child into the deal!
But Zip! Zilch! Nada! No acceptance.
I decided to follow up on a few of these listings as they have closed and pulled up the MLS info after closing, and lo and behold - the same broker was representing the buyer on the deal.
Many times the offer I submitted was lightning quick.
los angeles real estate agents: Ralph Sells The City: The Adventures of a Non-ExtraTerrestrial Realtor - Afraid of a Lizard? Seriously?!!
- 09/14/12 05:58 PM
Ralph Sells The City: The Adventures of a Non-ExtraTerrestrial Realtor - Afraid of a Lizard? Seriously?!!
I have a short sale listing in Chatsworth, California. Sent the full package in last week. The bank's appraiser called me today to do the BPO Appraisal.
I could not make it due to a time conflict, but my seller agreed to meet her at the property at 1:30 because after telling her there was a small friendly dog in the courtyard, the appraiser wanted someone to be there.
Then the appraiser and called me back an hour later and said she can't make it
los angeles real estate agents: OMG! I am seeing some of the most crazy-a@@ buyer activity out there!!
- 09/11/12 07:39 AM
OMG! I am seeing some of the most crazy-a@@ buyer activity out there!!
It's a jungle out there for buyers!
With inventory levels being so low, and buyer motivation levels so high, I am seeing some pretty crazy things out there.
I think it's even worse than the craze of 2004-2005.
I just listed a home yesterday morning and within 2 hours of it hitting the MLS I had two all cash offers in my in basket and an email promising a 3rd cash offer, which came in a few hours later.
And representing buyers, it's really rough.
I have several
los angeles real estate agents: Homestead Exemptions: Is it possible to end up with equity from your short sale or foreclosure??
- 09/09/12 08:50 AM
Homestead Exemptions: Is it possible to end up with $75,000+ from your short sale or foreclosure?
During the last 2 courses I'm completing towards my broker's license, some of the material I'm going through is quite interesting.
I'm going through a section regarding Homesteads, how they work, and the legalities surrounding them.
Here is some initial info:
A homestead declaration does not restrict or limit any right to convey or encumber the declared homestead. [CCP §704.940]. If a property owner records a declaration of homestead against their primary residence, it in effect drains the property of its equity up to the
los angeles real estate agents: Want To Sell Your Home? The first step is letting go emotionally.....
- 08/28/12 07:19 AM
Want To Sell Your Home? The first step is letting go emotionally.....
There are many decisions and plans that have to be made prior to putting your home up for sale. Many of these decisions are based upon the logistics of your life: Why do you want to move? Where do you want to move? What is the mathematical equation that is present for you?
In my experience as an agent assisting homeowners in making some of these decisions, I've found that there is one critical aspect that must be completed as a foundation to making your goals happen:
los angeles real estate agents: Ralph's Helpful Tips: Closing Dates - A Foolproof Way of Avoiding Drama
- 08/10/12 07:51 AM
Ralph's Helpful Tips: Closing Dates - A Foolproof Way of Avoiding Drama
Many times during the course of a purchase transaction, issues may arise that may need additional time to address, resulting in a need to extend the closing date of the transaction.
In addition, the actual closing date per contract that results after the last date of the last signature on the contract may end up being a day on a weekend or holiday.
In both of these scenarios, the usual solution is an addendum to the contract extending the closing date to a more appropriate date.
Well, sometimes the
los angeles real estate agents: Ralph's Helpful Tips: Holding Deals Together - How to Get Creative
- 07/23/12 08:14 AM
Ralph's Helpful Tips: Holding Deals Together - How to Get Creative
Purchasing a home these days is not as simple of a task as most people think. Even just negotiating the purchase contract has so many more elements now than it used to. I hear all the time from some of the agents who have been in the business for 20+ years how they used to sign deals on the hood of their car!
But going past the point of a mutually accepted offer, there's the huge task of getting through the escrow all the way towards closing. And I know
los angeles real estate agents: Ralph Sells The City: The Adventures of a Non-ExtraTerrestrial Realtor
- 06/14/12 08:12 AM
Ralph Sells The City: The Adventures of a Non-ExtraTerrestrial Realtor
Showed a home in a very nice area of Toluca Lake yesterday. The space works for my client, and the location. But it needs a lot of updating. The listing agent told me that there is one offer already on the property, and that they have to respond to it by this evening, so if we're going to write on it we'll need to submit by that evening.
Ran comps and talked it over with my client. The property appears to be overpriced. And it's been on for about 5 months.
los angeles real estate agents: Ralph's random thoughts about life........
- 06/10/12 08:54 AM
Ralph's random thoughts about life.........
It's kind of funny.
I think about our mortality as humans all the time. I think about the scenario if/when another close family member or friend of mine should pass before I do. And I find comfort knowing it is all in the master plan.
One thing we know for sure: We all pass. We all have our time. And since what we don't know is when and who will move on before whom, then it truly makes you appreciate EVERY day you have with those loved ones while they are still here, or
los angeles real estate agents: Homesteads - What they are, and how they work
- 06/04/12 09:56 AM
Homesteads - What they are, and how they work
California is one of the many states that have Homestead laws to protect the equity in an owner's primary residence.
There are two homestead statutes in California:
1. Articles 4 and 5 of Chapter 4, Division 2, Title 92. Part 2 of the California Code of Civil Procedure
A Homestead property is the primary residence occupied by a family that is exempt from the claims of, or eviction by, unsecured creditors.
A homestead exemption is a lien that protects a certain amount of equity in someone's home by limiting the amount of
los angeles real estate agents: How to coach your buyers through the short sale process
- 05/26/12 08:37 AM
How to coach your buyers through the short sale process
The process of obtaining an accepted offer and successfully closing on a short sale transaction on the buying side can be one of the most tedious and stressful things we do currently as real estate agents.
But it doesn't really have to be if you use a recipe for success for you and your buyers.
One of the most important issues in the beginning is knowing how to craft an offer that is conducive to a successful short sale closing.
Here is a task list that will help:
1. Obviously, you
los angeles real estate agents: Chase Takes $2 Billion Dollar Loss On Bad Investment - Have they not learned ANYTHING?!!!
- 05/19/12 08:07 AM
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?
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!!
Enough is enough!! We spent HOW MUCH of our hard-earned taxpayers money to bail them out? For
los angeles real estate agents: How To Win in a Multiple Offer Situation when you are limited on price
- 05/13/12 08:28 AM
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
los angeles real estate agents: It's Unanimous - The Market Has Officially Turned
- 04/15/12 07:45 AM
It's Unanimous - The Market Has Officially Turned
I've spoken to several agents around the country and it's pretty unanimous - the market has officially turned!
Los Angeles, Phoenix, New York, Austin, Miami, Chicago, and more have all reported unbelievable amounts of activity.
And this activity is the spark plug to the slow rise in home prices into our next chapter of a normal market.
Congratulations to those buyers who purchased in the last few years - you officially came in at bottom.
For those buyers who were on the fence waiting for the market to continue to drop even more,
los angeles real estate agents: Overpriced Listings: The Debate - To Take or Not To Take...........That is The Question?
- 04/07/12 07:02 AM
Overpriced Listings: The Debate - To Take or Not To Take...........That is The Question?
I had a very interesting lunch date this week with an agent in my office. We discussed many things, but a conversation came up that we all have from time to as to whether or not you should take a listing in which you feel the seller is being unrealistic about list price.
As you will tell from this blog, I definitely have my opinion. But as always for the sake of discussion and sharing good information with each other, I welcome everyone's opinion and input.
los angeles real estate agents: 12 Tips for Hiring a Remodeling Contractor
- 03/30/12 08:01 AM
This is a great checklist for hiring a contractor.
I believe it would pay off to be this diligent with selecting the right one.
SO many times what is estimated to be a certain amount ends up quite a bit more because the right amount of time and research was not taken in the beginning.
Spend a little more time up front, and save yourself from a lot of grief later!
Many South Mission Hills Homes for sale have been upgraded nicely in recent months and years by talented contractors who did an incredible, timely job to help homeowners in this
los angeles real estate agents: In the Los Angeles $350k and below market, it's officially become "How Much Over Asking Do I Need To Write?"
- 03/29/12 07:43 AM
In the Los Angeles $350k and below market, it's officially become "How Much Over Asking Do I Need To Write?"
The Los Angeles residential real estated market in the $350k and below range is on FIRE!!
Multiple offers all over the place. In general, with properties that show well and are priced fairly, it has pretty much become a factor on how much over list price a buyer needs to write in order to get an accepted offer.
Why? Because it has become common knowledge that we have hit bottom about 6 months ago. And since no one officially rings a
los angeles real estate agents: Some tips on preparing your Agent Visual Inspection
- 03/22/12 10:25 AM
Some tips on preparing your Agent Visual Inspection
As agents, we provide a visual inspection on properties on which we represent either the buyer or seller.
The most important aspect is to realize that it is just that - a VISUAL inspection.
It is entirely separate from and does not have anything to do with the general inspection that is performed on behalf of the buyer by a certified property inspector.
In other words, you should not be lifting carpet, looking behind paneling, moving appliances, or in essence, placing your hands on anything in order to do your visual inspection. The
los angeles real estate agents: Check out some of the AMAZINGLY productive online classes at ActiveRain University coming up!
- 11/24/11 11:57 AM
Check out some of the AMAZINGLY productive online classes at ActiveRain University coming up!
Wow. There are some pretty good topics coming up over the next month at ActiveRain University.
Here are some that I think stand out:
Mastering the Art of the Short Sale Getting Your Buyers to Buy 10 Things You Can Do NOW to Generate Business Generating Short Sale Leads Building and Managing a Successful Database
I'm definitely patching in this month. Good Stuff.
Just click on the University link at the top of your AR page, and voila!
You're instant student at ARU.