JOHN TUCRKILE, Norwalk, CA Bellflower, CA Homes For Sale!'s Blog

HOW TO SELL YOUR PROPERTY IN LESS THAN 60 DAYS !!

Mon, 03 May 2010 11:49:43 -0700

Information About $18,000 Home Buyer Tax Credit

Fri, 02 Apr 2010 00:51:28 -0700

SITTING ON THE FENCE WILL COST YOU!

Sat, 08 Aug 2009 16:23:36 -0700

It is like déjà vue all over again with the home buyers and real estate market. They are waiting for the market and the interested rate to go lower. During the late 1990, I had many buyers that were waiting for the same thing. I did everything any good real estate broker will do to persuade buyers but no luck. Later on some of the buyers end up paying more and some just did not qualify due increase home value.

I understand your fear that you might be paying too much for a property. Why not ask your broker for a market valuation before you write an offer. Please listen me the market is changing, and it is not in your favor. There was increase in home sale in June, which usually increases home value. The average offers on good properties in many communities right now are 10 -20 offers, which translate to more than asking price.

If you don't want to participate in the bidding war, I recommend a nice FHA program called FHA 203K. It is a program that includes the costs of repairing/fixing up a property into one loan, while allowing you to defer your payments up 6 months during the repair. And if you do energy improvement/upgrade, you can get a tax credit from the government.

Based on my experience, home prices general go up faster than they come down. Aside from everything else, this is the best time to purchase a home, especially for first time buyer. Let look at some of the incentives and benefits along with low down payment (3.5%):

•1. Up to $8,000 tax credit (expires 12/1/2009)

•2. Low interest rate

•3. You can claim all the interest pay this year when you file your taxes in 2010. You will get more than the $65.00 renter credit you have been getting.

My advice to all the buyers out there, there is no perfect time to buy a home. This is the closest you ever going to get to a perfect market. In 5 years, there is a strong possibility that your equity, the down payment could triple. I forgot to mention all the benefits of owning a home. WAITNG WILL COST YOU!

IT IS ADVISABLE TO TO TRY TO SELL YOUR HOME BEFORE FORECLOSURE

Sun, 07 Jun 2009 18:50:02 -0700

I have been doing BPOs (Broker Price Opinion) for a long while. I noticed 9 out of 10 homes are not on the market or have not been on the market since the last sale. I do not know why but it is a mistake. I understand times are hard right now but they will get better one day. Then if you want to purchase another home, would it better to be able to say you made every effort to sell before you lose it? On the hand, you did not try to sell your home which will come across as not being a responsible person, now you are asking the lenders to give you another chance but they refuse due your past history of walking away when time are hard.

Facing losing your home, please make sincere effort to do the following:

•1. Look at your Budget - realistically exam your expenses against your income and saving. Seriously give cut out the Wants (eating out, movies, reduce your cable and satellite bill, combine trips when out, pay cash or wait, etc).

•2. Apply for loan modification - personally I will not pay anyone to loan modification because the amount you have to pay someone can get you started with your negotiation.

•3. Get A CMA (Comparative Market Analysis) - you want a CMA done by an honest broker. Honest mean a broker who will be straight with you and knows the market trend. Based on his findings you have a quick decision to make:

•A. Regular sale not concern about getting any funds back.

•B. Short Sale- if you are upside down on your loan and you think it is too much for you to carry the property, and then consider it. Please have your real estate attorney and accountant review the all paperwork.

•C. Renting Room out- this is usually good in an area that have a basement

•D. In lieu of Foreclosure- I will recommend you consult a real estate attorney for this choice.

Why all this going, please continue to make payments if can and give up and any Want that only give you pleasure but do not contribute to keeping your home.

I strongly believe that it is a good advice to be responsible regardless of your situation or whatever is going on around you. Your responses to present situations always affect your future. And taking the steps above will make a different in your life. Remember your home is the only durable and dependable investment you have, regardless of the present deprecation. Real estate is a cycle.

WELCOME TO RANCHO SOUTHEAST

Tue, 05 May 2009 23:38:38 -0700

Welcome to my blog called Rancho Southeast Blog. I will be sharing with you activities in my community on regularly basic. I have been living and selling real estate in this community for 20 years. I will be glad to answer question, i.e. school districts, city hall and First Time Buyer programs and citywide improvement loans for homeowner. Yes low interest loan for homeowners. Most of all it beauty and the people that live here

Oh by the way you are welcome to share with me topic you want me to blog about. I am looking forward to talking with you soon.

TIME TO GIVE BACK TO YOUR COMMUNITY AND HELP ONE!!

Sat, 02 May 2009 21:29:40 -0700

On May 16, 2009, Los Angeles County Networks along with Chase is having a "Free Foreclosure Prevention Fair". All the players with be there, loan servicers, lenders and counselors under one roof to help homeowners. Realtors and Loan Brokers near Los Angeles County they can use our help in managing this event.

Realtors and Loan Brokers go to website projecthomeowner.org to sign up to volunteer.

Homeowners please visit project homeowner or call 888-895-2647 or email counseling@lanhs.org for registration and what to bring. I will recommend you attend even if you are already in negotiation with your lenders.

There are events scheduled for other parts of the country. Information of locations and time are available on the website projecthomeowner.org

Please spread the word and looking forward to meeting my Activerain members there.

SEE YOU THERE!!

THIS IS THE TIME TO BUY 101

Thu, 30 Apr 2009 23:11:10 -0700

People ask me all the time when is the best time to buy. And my answer always any time is the best time to buy regardless of the market. You see unless you are an investor, being a homeowner brings high level of freedom and pride of the American dream. Coming from a 3^rd world country, you experience a feeling that I cannot be explained. Anyway, here are my reasons that any time is the best time to buy.

•1. Sense of owning a real property you can call your own in a great country.

•2. A place you can raise a family & children

•3. Open door to wealth through built equity or unearned equity due to increase in value by the real estate market.

•4. Lower income tax from mortgage interests.

•5. Sense of accomplishment

•6. It beats renting any day and nothing wrong with renting.

How do you buy your first home? Here how you buy your first home:

•1. You look at your bills, saving and income. You want to list all your bills accurately with monthly payments including your living expense. Then you subtract your total bill from your income to see if you will need pay down credit debts or let go none essential bills. You have must 3.5% of your own money for down payment.

•A. You interview at least 3 full time brokers/agents. You are looking for knowledge, honesty and availability. Knowledge of type financing and the market trend. Available to show you properties himself/herself not his or her assistant and have personally previewed the properties.

•B. Ask if you need to sign a buyer contract and if you do, do not sign for more than 60 days. By the way, make sure you write into the contract to cancel if you are not happy with the service. Personally, I do not use buyer contract. If a borrower not going to buy through you why waste your time with empty paper called contract.

•C. Once you decided on the Realtor, asked to be preapproved through DU. Du approval is more reliable than regular approval. Du approval in most cases avoids being approved again by REO lenders. You can choose your own lender but let your lender know your Realtor is in charge of your transaction and should be given whatever is need from the lender. It is better to call one person for status than two different people.

•D. Previewing properties you are approved for. Please give an honest feedback on every property you shown. This is a team (you and your broker) effort so if you see any property you like, please call the broker with the address and phone number for more information. Stay away from short sale properties because they are not reliable.

•E. Find what you like, write an offer. Please have an open mind here, especially property in good condition or need less repairs. They usually attract many offers. Make your most attractive offer and remember that every concession reduces your offer price. For instance you offer $250,000 on a property but asking for $10,000 credit toward closing. Your offer then is $240,000. I am not say don't ask for closing costs, just be aware of how your offer is being perceived by the seller.

•F. Accepted offer when do you give notice to landlord? I usually tell my client to give notice upon formal loan approval.

•G. Next step close to the end is ESCROW. The job of escrow officer is to carry out the agreement and make changes agreed by both parties (buyer & seller) if any as disburse funds and final documents. Among other duties.

H. FINALLY YOU ARE A HOMEOWNER.

NOTE: DURING YOUY BUYING PERIOD PLEASE DO NOT USE CREDIT OR APPLY FOR ANY CREDIT. A DEAL KILLER!!

HOW TO ADVOID MY LESSON

Mon, 16 Mar 2009 16:40:09 -0700

I just had an experience that you want to avoid on your next deal. I have what you will call a perfect buyer; good income, cash in the bank, and almost perfect fico score and very responsible client. You will think that any lender will fund this loan.

We made an offer on a property that the seller purchases from a trustee sale 2 months earlier and remodeled it. The loan was decline because the owner did have the property for 90 days or more and it was a 5% down conventional loan. The excuse on the down payment was mortgage insurance companies will not insure conventional loan less that 10% down regardless of the other factors.

However, I am glad to say that the loan was later underwritten by another lender with my client increasing her down to 10% with an appraisal field review. I do understand all the caution but do the lenders have to throw baby with the bath water? Responsible buyers are been denied because of the over caution by lenders. What happened to case by case and other factors?

Through this transaction I learned flip properties must be held by the investor for 90 days from date of purchase before selling it. FHA is the best financing for any buyer with low down payment.

HOW TO GET TOP DOLLARS IN THIS MARKET

Mon, 09 Feb 2009 21:50:05 -0800

For the past six months I am have been having trouble getting offers accepted on properties for sale. Most of them have been foreclosures. I noticed prior to writing every offer, the listing agents tells me they have multiple offers. Guest what the average offers? It is 5 offers per property.

Here are the reasons why:

•1. Price right at market value- due to the declining market you may want your asking price based on the last 90 days closed sale and listen to your agent's recommendation. Pricing is always based market value not what the seller wants. Overpricing your property will hurt the marketability. Will you pay more for day old bread? Remember some of the improvements you made were for your enjoyment. However, a prospective buyer may have a different taste.

•2. Make your property livable- move in condition or fewer repairs will always attract more buyers and more offers for you to choose from which may lead to more than you were asking. It is advisable to put some of your personal items in boxes and move them to the garage. For vacant property, you may want to remove debris (old mail, ads, newspaper etc.) weekly and leave the utilities on. It does sent a signal to prospective buyers that you are serious about selling.

•3. Accessibility- make your property available for preview or showing by installing your agent installing a lockbox. I will strongly recommend supra lockbox if you are still living in the property and removing all valuable items from view.

There are many buyers qualified, ready, and able to purchase right now, especially first time home buyers but they do not have the extra fund to do any repair. Therefore they may pay little more than your asking price if your property is in move in condition or fewer repairs.