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realtors and brokers: Selling Decedent Estate Property in California - Part One - 10/15/11 04:37 PM
Experienced REALTORs® and real estate professionals in California who help private trustees, decedent estate representatives, executors and administrators, sell real property would be familiar that good estate planning, including use of a REVOCABLE LIVING TRUST, transfer of property to such trusts, and why that's important.
When property in California is transferred to such a REVOCABLE LIVING TRUST, the eventual sale or disposition can usually be handled privately without court supervision and would avoid probate.
However, if decedent estate property in California is not held by such a REVOCABLE LIVING TRUST, that property would become subject to the California Probate Code and distribution according to probate court rules.
The California Probate code requirements … (0 comments)
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realtors and brokers: Values Upon Which Our Success Depends ~ President Obama's Inauguration Address - 02/03/09 04:26 PM
Our U.S. PRESIDENT BARACK OBAMA in his INAUGURATION ADDRESS on January 20, 2009, said:
"Our challenges may be new, the instruments with which we meet them may be new, but those values upon which our success depends, honesty and hard work, courage and fair play, tolerance and curiosity, loyalty and patriotism -- these things are old.
"These things are true. They have been the quiet force of progress throughout our history.
"What is demanded then is a return to these truths. What is required of us now is a new era of responsibility -- a recognition, on the part of every American, … (6 comments)
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realtors and brokers: Local Housing Market Update - Irvine, California - February 2, 2009 - 02/02/09 01:13 PM
With some of the best residential neighborhoods and homes in South OC, Irvine is located next to Newport Beach, Laguna Beach, Newport Coast, and within a 10 minute drive of the Pacific Ocean at Crystal Cove.
Irvine is especially known for its pleasant weather with lots of sunshine, excellent and award winning public schools, healthy business climate with good job opportunities, University of California Irvine, encouragement for business development, celebration of diversity, places for freedom of worship, and one of the safest cities in the United States.
As of today, February 2, 2009 ~ there are 653 homes listed for sale at Irvine with average list price of homes is $751,576 (average time on the … (4 comments)
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realtors and brokers: Short Sale Listings Not Lender Approved Can Be Messy For Buyers - 02/02/09 11:04 AM
Buyers pursue SHORT SALES to try and get a good deal.
A short sale listing on a home means the owner is trying to get the lender to accept a discounted payoff to release an existing mortgage.
But just because a property is listed with SHORT SALE terms doesn't mean the lender will accept your offer, even if the owner of the home does.
If a home sold for $600,000 a few years ago and is now listed for sale at $450,000, this doesn't mean that the home will be sold for $450k. This means that the seller paid too much, or he bought with a liar loan, or that … (1 comments)
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realtors and brokers: Be Careful Using Private Home Loan Modification Consultants - 11/28/08 11:22 AM
Non-profit agencies and banks seem to be overwhelmed by the demand for their home loan modification services these days.
Private consultants are doing business in California ... offering homeowners help getting banks to modify their loans. These consultants charge a price for their services. Some charge as much as $5,000 in advance, and some desperate homeowners, facing crisis, have paid. But what is being accomplished for the money by these consultants?
A California Department of Real Estate spokesman said that this private home loan consulting is a new situation for the real estate industry.
Real estate brokers are required to obtain permission from the DRE to collect … (6 comments)
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realtors and brokers: WHAT'S THE FIRST STEP IN YOUR REAL ESTATE DEAL NEGOTIATING? - 10/09/08 12:54 AM
MELVIN BELLI WAS RIGHT ABOUT NEGOTIATING. He was known as the "King of Torts". During my days while providing service as a lawyer for clients, I once attended a seminar where he spoke. The subject was the art of NEGOTIATIONS.
BELLI was a character, a giant of the courtroom, jovial, very entertaining and fun to listen to. I remember him saying something like ... "a great negotiator must start by learning everything he/she can about the situation and issues".
He talked about negotiating ... like journalism and that you should ask questions. What happened? When did it happen? Who did it? Where is it? Why did they do it? What … (18 comments)
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realtors and brokers: IS THE U.S. CENSUS BUREAU 2007 COMMUNITY SURVEY INFORMATION HELPFUL OR IMPORTANT? - 09/25/08 10:10 AM
Our U.S. government spends considerable money at its U.S. Census Bureau and provide us with information.
I QUESTION WHETHER THIS USE OF TAXPAYER FUNDS FOR INFORMATION IS ALWAYS HELPFUL OR IMPORTANT.
The Associated Press reported on September 22, 2008, about the U.S. Census Bureau survey highlights.
The Census Bureau released the 2007 American Community Survey, the government's annual estimates of social, economic and housing characteristics for the nation.
HIGHLIGHTS OF CENSUS BUREAU 2007 AMERICAN COMMUNITY SURVEY:
Median home values increased 5 percent from 2006 to 2007, which was lower than in recent years.
DIDN'T WE ALREADY KNOW THIS?
Hawaii had the highest median home … (6 comments)
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realtors and brokers: WHAT'S EXPECTED? THE GOOD REALTOR AGENT - 09/09/08 11:40 AM
There are some very good Realtors and real estate agents out there ... who always seem to be involved with helping their friends and clients.
When hiring a Realtor agent to help you buy your next home ... or help you sell your home and property ... you should find one to trust ... and one who listens to what you have to say.
The Realtor should be able to go the extra mile to help make your purchase or sale appear to be smooth. This agent should help you set aside the emotion of the situation and be objective.
… (6 comments)
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realtors and brokers: Housing Affordability Increased in California During July 2008 - 08/22/08 05:01 PM
The California Association of Realtors reported (Aug. 19, 2008) that entry-level housing affordability increased 50 percent in second quarter 2008 as compared to the same time in 2007.
That's a good thing for new homeowners. We as Realtors should know this and focus on what will eventually jump start the market.
The percentage of households that could afford to buy an entry-level home in California stood at 48 percent in the second quarter of 2008, as compared with 24 percent for the same period a year ago.
California Association of Realtors uses First Time Buyer Housing Affordability Index (FTB-HAI), which measured the … (2 comments)
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realtors and brokers: NAR Approves New Model Rules For MLS About "Short Sales" - 06/05/08 12:31 PM
The National Association of Realtors (NAR) board of directors has recently adopted new policy for disclosure of short sale listings in a multiple listing service. The NAR directors "approved new model rules for Multiple Listing Services (MLSs) that would enable practitioners to alert one another to potential short sales and put them on notice about the sharing of any reduction in gross listing commission required by a lender. MLSs are given the authority to decide whether or not their participants have to disclose reasonablyknown short sales." All MLSs must provide their members with the means to disclose that a given listing … (3 comments)
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realtors and brokers: U.S. Lawsuit vs. National Association of Realtors Online Listing Policy Is Being Settled (5-27-08) - 05/28/08 05:07 PM
The U.S. antitrust lawsuit filed against the National Association of Realtors in 2005 and parties involved have reached a proposed settlement as of May 27, 2008. The settlement calls for the adoption of a new online listings policy. The lawsuit had challenged the NAR policies governing the online sharing and display of property listings, including Virtual Office Web site (VOW) and Internet Listings Display (ILD) policies.Other data-sharing policies for multiple listing services and participants, known as Internet Data Exchange (IDX) policies, were not challenged in the lawsuit and are not affected by the proposed settlement.The Justice Department had alleged that NAR's … (3 comments)
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realtors and brokers: It's Good that NAR Will Consider New Rules for Listing & Advertising of Short Sales - 05/08/08 10:45 AM
The good news during April 2008 from the National Assoc. of Realtors is that it is considering new rules for listing and advertising of short sale and distressed properties.
It's about time.
Rules must be made and followed regarding listing of these properties with the MLS services. The rules should bind owners and sellers, listing agents, and lenders, through the short sale process.
The health of our real estate market is dependent upon buyers having sufficient and accurage information on which they can rely for truth about the properties.
Regarding distressed properties, the market and folks who buy need MLS listings to identify whether there is lender … (2 comments)
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Harrison K. Long, business, REALTOR®, GRI, Broker
Irvine,
CA
More about me…
Explore Group, Coldwell Banker Previews, Irvine, South OC
Address: 6833 Quail Hill Parkway, Irvine, CA, 92603
Office Phone: (949) 854-7747
Cell Phone: (949) 701-2515
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