los angeles real estate agents: "We'll hold your offer as backup" - I've heard that one before.... - 06/18/13 06:46 AM
"We'll hold your offer as backup" - I've heard that one before....
How many times have you heard this?
If you stop to think about it, what does that really mean?
By mere definition, a "backup offer" doesn't exist unless it's in writing.  There's no such thing as a backup offer unless it's in writing.
In California, our Department of Real Estate has recently developed a specific addendum just for that purpose:

 
Anything short of having a backup offer in writing, stating clearly which order in line you are as a backup offer, is just small-talk.
In essence, a … (7 comments)

los angeles real estate agents: Mid-Century Hillside View Home - HUGE Potential - Topanga Canyon - $749,000 - 06/15/13 02:31 PM

$749,000 , 4 bedrooms, 4 full baths, 0 half baths, 2,955 square feet  
(10 comments)

los angeles real estate agents: Something to keep in mind to all real estate agents that you may not realize.... - 06/07/13 12:54 PM
Something to keep in mind to all real estate agents that you may not realize....
Over the past year, many areas of the country has seen the real estate market ignite.  Actually, it's on fire in many places.
There are investor dollars coming out of everywhere buying up property since it appears to be the better investment for them right now.
Tons of properties are going into multiple offers, and often the accepted offer is an all-cash buyer.
As listing agents, many of us think that is the best, smoothest, easiest offer for our seller clients and give all-cash offers a … (40 comments)

los angeles real estate agents: Prime Area Sherman Oaks Metropolitan Condo - 05/31/13 02:41 PM

$2,350 per month, 2 bedrooms, 2 full baths, 0 half baths, 1,388 square feet  
(3 comments)

los angeles real estate agents: Immaculate Valencia Condo for Lease - $1,875 - 05/29/13 04:29 PM

$1,875 per month, 2 bedrooms, 2 full baths, 0 half baths, 1,030 square feet  
(4 comments)

los angeles real estate agents: Ralph's Helpful Hints: Being "Scentsative" to your clients..... - 05/29/13 02:44 AM
Ralph's Helpful Hints: Being "Scentsative" to your clients.....
Whether it's your listing, or you are showing a home to your buyer, it's always a good idea to remember you are entering someone else's home.
Someone's home, whether it's a studio condo or estate home, is their sanctuary and deserves as much respect from one to the next.
Such practices as asking whether or not the seller would prefer you remove your shoes upon entering, asking about pets, making sure lights are off upon leaving, etc., are all things that show your respect and courtesy to the seller for their home.
One … (3 comments)

los angeles real estate agents: Ralph's Helpful Tips: Don't ask if the price is negotiable before seeing the property! - 05/24/13 01:27 AM
Ralph's Helpful Tips:  Don't ask if the price is negotiable before seeing the property!
Have you ever had it be the case where a buyer's agent (or buyer) asked if the price is negotiable even before seeing the property?
On my listings, whenever I hear that, honestly that tells me that neither the buyer nor the buyer's agent are that serious.
So for the sake of your buyer, please don't do that.
El Tack-ay, people!!
First of all, we all know that anything in real estate is negotiable, so why ask in the first place?  But the best platform for negotiation … (9 comments)

los angeles real estate agents: A New Nasty Trend: Writing all-cash, then switching to a loan - 05/23/13 01:54 AM
A New Nasty Trend:  Writing all-cash, then switching to a loan
So there's a new little nasty trend that is picking up speed in the residential real estate market.
It is common knowledge that cash investors have pushed our market into a spikey trend of upward home values.  It's also known that many buyers utilizing a loan are losing out to the all-cash bids in multiple offer situations.
So there are some buyers that are wise to this and have decided to turn to deception in order to get an accepted contract.
And that is:  Writing the offer as all-cash, and … (10 comments)

los angeles real estate agents: JUST SOLD! - 5919 Tuxedo Terrace, Los Angeles, CA 90068 - $975,000 - 05/23/13 01:22 AM
JUST SOLD - $975,000

5919 Tuxedo Terrace, Los Angeles, CA 90068

MLS # 12617161


Built in 1939 this elegant traditional in upper Bronson Canyon is full of original character and charming, period details. All of the light-filled rooms are spacious. Two bedrooms with en suite bathrooms comprise the top floor while the main floor features a formal dining room, kitchen with adjacent breakfast room and laundry room, formal living room and a comfortable den with access to outdoor living spaces. There are dueling wood-burning fireplaces complimenting the living room and den. Off the 2 car attached … (2 comments)

los angeles real estate agents: New Listing! - Mandeville Canyon / Brentwood Estate - $3,295,000 - 05/10/13 03:08 AM
New Listing! - Mandeville Canyon / Brentwood Estate - $3,295,000
Virtual Tour:  www.2794MandevilleCanyon.com
Unique estate home nestled in the lush, green setting of the Mandeville Canyon area of Brentwood. Set back from the road by a lovely bridged driveway, this home provides the consistent charm of a traditional exterior with the clean lines of a contemporary interior.
Extensive thought and detail in design was used to create a gallery atmosphere that accentuates the
homeowner's individual decor and artistic expression. You are greeted by a glass-embellished foyer with cathedral ceiling that not only hints at the large open architectural style of … (6 comments)

los angeles real estate agents: I'm taking matters into my own hands.....in a BIG way - 04/21/13 01:48 AM
I'm taking matters into my own hands.....in a BIG way
The craziness of the market tends to bring out advantages and disadvantages.
Advantages include the obvious such as increased activity, gains in home value, and all the hussle and bussle associated with that.
But there are some disadvantages that have occured as a result of us coming out of a depressed market for quite a few years, and that is the greed, nastiness, and compromising of ethics that I'm seeing by a fair percentage of agents.
I've found myself having to police my business, during a time when I really don't … (27 comments)

los angeles real estate agents: Cute, new North Hollywood condo listing! - 04/09/13 04:57 PM
(5 comments)

los angeles real estate agents: Backup Offers: How to use this strategy successfully in the current market. - 03/31/13 01:25 AM
Backup Offers:  How to use this strategy successfully in the current market.
With record-low inventory levels and an unusually high pool of buyers, properties are flying out the door, well over asking, and in some cases are sold before processing.
This places a whole new value and weighted leverage to backup offers.
But I need to make one thing very clear:  A backup offer is non-existent unless it is signed off, in writing.
So when a listing agent tells you that “they will hold your offer in backup position”, that means absolutely nothing unless you have a signed backup offer in … (35 comments)

los angeles real estate agents: Don't tell me anything about shadow inventory: Who new about shadow buyers? - 03/07/13 04:01 AM
Don't tell me anything about shadow inventory:  Who new about shadow buyers?
For years, we've been hearing about "shadow inventory", or this mysterious stockpile of bank-owned properties that at some point would be released into the market like some biblical plague.
I'm not buying it.  (No pun intended)
The new buzz phrase I'm officially coining is "shadow buyers".
Who had any idea that such an unknown growing swell of buyers was looming in the darkness until now?
And this pool of buyers is a combination of first-time buyers, buyers looking to upgrade, and investors.
The amount of activity and home value … (6 comments)

los angeles real estate agents: Another $uccessful closed transaction via ActiveRain referral! - 03/06/13 12:49 PM
Another $uccessful closed deal via ActiveRain referral!
I just closed another deal via ActiveRain Referral.  A great agent from the Silicon Valley contacted me last year for a client that was looking for investment property here in the Los Angeles area.
Well, it took us quite a while to find just the right property, but it was worth the wait for my client.
We got him into a fabulous triplex in a prime area of Burbank/Toluca Lake.  It's a great location with a "walk-to everything" factor.
248 N. Maple St., Burbank, CA - Sold for $748,500


Los Angeles Homes … (3 comments)

los angeles real estate agents: Have any AR Peeps processed a short sale with a relocation company? - 03/06/13 09:39 AM
Have any AR Peeps processed a short sale with a relocation company?
I am very familiar with real estate transactions involving relocation companys.  I actually work with several and I'm closing one presently in the next couple of days.
However, I am currently initiating a short sale with a relocation company working with the seller.  This will be a first.
At first, I wasn't sure how this was going to work, but I have some initial details now.  Apparently, the contract that is sent in to the bank is that of the relocation company purchasing it from the employee (seller).  And … (3 comments)

los angeles real estate agents: Finally! Our MLS makes an effort towards upholding the rules........ - 03/06/13 05:44 AM
Finally! Our MLS makes an effort towards upholding the rules........
I logged on to my MLS yesterday, only to find the following bulletin screen pop up:

 
I can't begin to tell you how satisfied I was to see this.  Especially since some agents still do not get the fact that with a short sale the seller is legally the entity that enters into the contract with the buyer, not the bank.  It is the seller's choice of whom they wish to enter into contract with.
I'm sure most of you have experienced on numerous occasions inquiring or even submitting an … (2 comments)

los angeles real estate agents: How much are property values rising in your area? I'm hearing insane increases!! - 02/26/13 11:48 PM
How much are property values rising in your area?  I'm hearing insane increases!!
I recently shared a Facebook post about the high level of activity in many parts of Los Angeles, that is causing a rapid increase in property values.  I shared that over the past 12 months, property values on average had went up 12-13% in Los Angeles.  They are projected to rise another 10-12% in the next 12 months also.  Low inventory levels and low interest rates are supporting these gains.
One of my fellow ActiveRain members shared that he has seen 13-17% gains PER MONTH for consecutive months … (20 comments)

los angeles real estate agents: Appraisal Value vs. Inherent Value - Know the difference in this new market - 02/25/13 01:09 AM
Appraisal Value vs. Inherent Value - Know the difference in this new market
We are officially in a different market now.  Gone are the days of the buyer's market where buying a home was like shooting fish out of a barrel.
"How much under do I offer?" is now being transitioned to "How much over asking will it take?"
One of the most critical aspects in a changing market is knowing the difference between appraisal value and inherent value.
Appraisal value is a fair market value placed on the property by a certified appraiser.  Typically it revolves around these items:
1. … (7 comments)

los angeles real estate agents: 405 Freeway Expansion gets a little "nudge" from some locals.... - 02/24/13 12:51 AM
405 Freeway Expansion gets a little "nudge" from some locals....
The expansion project of the 405 Fwy, costing some $1 Billion plus, just got a little "hurry up!" from a local Westwood-based citizens group called Angelenos Against Gridlock.
The completion of the 405 Fwy project has now been pushed into 2014 due to unforeseen delays in relocating major utility lines and moving old Sepulveda Boulevard.
Paving work and bridge construction just south of Sunset Boulevard has been delayed while utilities were relocated and Sepulveda was moved to the east, into some large hillsides. Petroleum, gas, electric, fiber, water, sewer and flood control lines all had to … (4 comments)

 
Ralph Gorgoglione, Hawaii and California Real Estate (800) 591-6121 (Maui Life Homes / Metro Life Homes) Ambassador large

Ralph Gorgoglione

Hawaii and California Real Estate (800) 591-6121

Kihei, HI

More about me…

Maui Life Homes / Metro Life Homes

Address: Kihei, HI, 96753

Office: (800) 591-6121

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