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)
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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)
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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)
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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)
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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)
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los angeles real estate agents: Seeking recommendations for online databases.......
- 02/12/13 12:01 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)
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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 01:59 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.
… (0 comments)
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los angeles real estate agents: Let's just get one thing STRAIGHT about property-showing protocol....
- 02/05/13 11:43 PM
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)
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los angeles real estate agents: OK,what is going on with this stupid Java thing on Zipforms?
- 01/29/13 11:26 PM
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
… (5 comments)
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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 12:52 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)
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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 12:16 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)
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los angeles real estate agents: A little birdie told me the Mortgage Debt Relief Act is being extended
- 12/21/12 12:15 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)
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los angeles real estate agents: What do you mean you have an accepted offer? The MLS shows Active!!
- 12/17/12 09:51 AM
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)
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los angeles real estate agents: Another $uccessful closed deal via ActiveRain referral!
- 12/16/12 12:47 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)
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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 12:55 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)
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los angeles real estate agents: Requiring the buyer to use a lender of seller's choice: A RESPA violation or not?
- 12/01/12 03:59 AM
Requiring the buyer to use a lender of seller's choice: A RESPA violation or not?
I recently wrote an offer on a property for some clients of mine, and received a counter offer.
One of the items in the counter offer stated that the buyers must use one of two of the seller's preferred lenders, or the contract would be subject to cancellation.
Now I've had plenty of occasions where the seller has asked that the buyer obtain a pre-qual or double-app with a preferred lender, but this is the first time they've flat out required that they get the loan … (17 comments)
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los angeles real estate agents: Ralph's Helpful Tips: Include a Letter of Good Standing from your Board in your listing presentations
- 11/14/12 09:42 AM
Ralph's Helpful Tips: Include a Letter of Good Standing from your Board in your listing presentations
Most of the time, you will be providing information about your company, your past sales, comps for the potential listing, market statistics, advertising samples, and other items in your listing presentation.
What I've found is that many agents neglect to include a Letter of Good Standing from your local board. It's very easy to obtain and in most cases, it is free from your board.
Yes, you can talk about your creative element when it comes to listing, advertising, and your ability to use creative … (5 comments)
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los angeles real estate agents: Unemployment rate drops to 7.8% in October
- 10/05/12 03:00 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.
Los Angeles Homes For Sale Los Angeles Condos For Sale Los Angeles Townhomes For Sale … (13 comments)
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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 12:33 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. … (74 comments)
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los angeles real estate agents: Ralph Sells The City: The Adventures of a Non-ExtraTerrestrial Realtor - Afraid of a Lizard? Seriously?!!
- 09/14/12 10:58 AM
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 … (34 comments)
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Have any AR Peeps processed a short sale with a relocation company?
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