los angeles real estate agents: I'm taking matters into my own hands.....in a BIG way - 04/21/13 08:48 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 11:57 PM
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los angeles real estate agents: Backup Offers: How to use this strategy successfully in the current market. - 03/31/13 08:25 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 12:01 PM
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 08:49 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 … (3 comments)

los angeles real estate agents: Have any AR Peeps processed a short sale with a relocation company? - 03/06/13 05:39 PM
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 01:44 PM
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!! - 02/27/13 07:48 AM
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 09:09 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 08:51 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)

los angeles real estate agents: Seeking recommendations for online databases....... - 02/12/13 08:01 AM
Seeking recommendations for online databases.......
I'm looking to bring all of my business transaction tracking and contact management online into one place, and I'm looking for recommendations from those of you who have used platforms and are satisfied with them.
Syncing with Gmail/Google would be a plus too.
I'm taking a look at having a custom one built also.
Any recommendations and experiences would be greatly appreciated!

Los Angeles Homes For Sale Los Angeles Condos For Sale Los Angeles Townhomes For Sale … (4 comments)

los angeles real estate agents: FHA and VA Allowable and Non-Allowable Fees: Close your transactions more smoothly by knowing these in advance - 02/10/13 09:59 AM
FHA and VA Allowable and Non-Allowable Fees:  Close your transactions more smoothly by knowing these in advance
FHA Loans and VA Loans have their own set of lender guidlines for real estate transactions.  A good real estate agent will not only be familiar with the terms of the contract that are within those guidelines, but it is also helpful to know some of the the lending guidelines as well, since some of that overlaps on the terms of the contract.
Knowing this information will pave the way for a smoother transaction, and will avoid any last-minute underwriting drama for your transaction.
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los angeles real estate agents: Let's just get one thing STRAIGHT about property-showing protocol.... - 02/06/13 07:43 AM
Let's just get one thing STRAIGHT about property-showing protocol....
OK, this has happened too many times to the point where I have to put my foot down.
When another agent is showing a vacant property, DO NOT walk in on the showing and trample all over the place with your client.
Proper protocol is to wait until the other agent is finished showing the property.
Why? Because each client is rightfully due a private, quiet showing on the property.  It's very important that they have those few minutes not only to see if this could possibly become a home for them, … (7 comments)

los angeles real estate agents: OK,what is going on with this stupid Java thing on Zipforms? - 01/30/13 07:26 AM
OK,what is going on with this stupid Java thing on Zipforms?
I've done this activation at least a dozen times and it's still talking back to me!!
Am I missing something here?
Has anyone been going through the same issue?
Do I need to call the board and remind them that I don't pay $500 a year for Chingaderas?
Any input would be greatly appreciated......
 
 

Los Angeles Homes For Sale Los Angeles Condos For Sale Los Angeles Townhomes For Sale  
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los angeles real estate agents: Wanted to take a brief minute to wish everyone a Merry Christmas, and Happy Holiday. - 12/24/12 08:52 PM
Wanted to take a brief minute to wish everyone a Merry Christmas, and Happy Holiday. Put any of the stress, worry, politics, life-drama aside and enjoy your time with family, loved ones and friends. Right now, people all over the world are letting it go, and coming together with the spirit of the Holiday that they celebrate. If we are close friends or just acquaintances, always in agreement or disagreement, or whether we share the same or different set of beliefs, I genuinely wish you peace right now. If you get up in the morning and open your eyes, you've already … (3 comments)

los angeles real estate agents: Simple 101: Don't forget to send a Thank You card to the agent on the other side - 12/23/12 08:16 AM
Simple 101:  Don't forget to send a Thank You card to the agent on the other side
Our industry can make us crazy at times. 
Short sales, foreclosures, distressed properties, lending laws, government programs, real estate laws, appraisals, inspections, emotional clients, etc.  So many times those urgent issues arise that cause us to lose focus on the bigger picture.
Try not to let it make you detract from the simplest little things that provide notoriety for you in your industry.
Don't forget to send a Thank You note to the agent on the other side at closing.
Referrals stem from who … (6 comments)

los angeles real estate agents: A little birdie told me the Mortgage Debt Relief Act is being extended - 12/21/12 08:15 AM
A little birdie told me the Mortgage Debt Relief Act is being extended.
One of the higher-ups at the National Association of Realtors informed a friend of a friend of mine  that it is going to be extended.
It will either be part of the budget bill, or extended separately.
Just wanted to share the inside scoop.


Los Angeles Homes For Sale Los Angeles Condos For Sale Los Angeles Townhomes For Sale  
(6 comments)

los angeles real estate agents: What do you mean you have an accepted offer? The MLS shows Active!! - 12/17/12 05:51 PM
What do you mean you have an accepted offer?  The MLS shows Active!!
How many times have you had a buyer tell you they are interested in offering on a property that shows Active on the MLS, but then when you contact the listing agent, they tell you they've had an accepted offer for a while now?
Not only is it extremely annoying, but it causes a credibility issue for all of us.
First of all, you have to explain to your buyer who can see the property listed as Active and For Sale, that it's really NOT Active and For … (8 comments)

los angeles real estate agents: Another $uccessful closed deal via ActiveRain referral! - 12/16/12 08:47 AM
 

Another $uccessful closed deal via ActiveRain referral!
This is the 2nd short sale referred to me from the same ActiveRain referral agent.
This was a a short sale with Chase Bank.  It took a few twists and turns, but I've become known in my area as a "dog with a bone" when it comes to transactions.  I NEVER give up and make it HAPPEN no matter what!
Overall, this is my 8th closed transaction via ActiveRain referral.
I currently have one more in the pipe.
I'd be happy to take care of your Los Angeles area referrals and turn … (6 comments)

los angeles real estate agents: Ralph's Helpful Tips: 16 Things NOT TO DO while in the process of Obtaining Home Financing - 12/13/12 08:55 AM
Ralph's Helpful Tips: 16 Things NOT TO DO while in the process of Obtaining Home Financing.
An excellent Mortgage Loan Officer that I work with, Marie Richarz with Prospect Mortgage, provided me with this important list for my buyers.
Buyers can unknowingly sabotage their home financing goals by making some obvious and not-so-obvious moves with their finances.  Check out the list below to see if you know the top 16 things not to do when you are in the process of buying or refinancing.
DO NOT:
1. Leave an existing job for any reason
2. Open new bank accounts
3. Close … (4 comments)

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

Ralph Gorgoglione

California and Hawaii Real Estate (800) 591-6121

Los Angeles, CA

More about me…

Metro Life Homes / Maui Life Homes

Address: Kihei, HI, 96753

Office: (800) 591-6121

Mobile: (310) 497-9407

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