Bob's Blog - Whittier Real Estate

Whittier California Christmas Parade Coming to Uptown on Saturday December 12

Bob Willis (Prudential California Realty, Whittier California) — Mon, 07 Dec 2009 20:52:44 -0600

This Saturday marks the 56^th annual Christmas Parade in Uptown Whittier California. Starting at 10:00 a.m., the parade route starts at the intersection of Greenleaf and Hadley.

The theme for this year's parade is Commitment to Community, and will be filled with floats, marching bands, drill teams and many different groups from the community.

When the parade ends at Mar Vista Street, children, young and old, will be able to see Old Saint Nick, all dressed up in his finest red coat.

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Thank you for reading the blog post, Whittier California Christmas Parade Coming to Uptown on Saturday. If you like my blog, make sure you subscribe to my RSS feed to get the latest Whittier real estate news.

For Whittier homes, see Whittier Welcomes You, or my other website about Southern California Real Estate.

I provide service for Whittier real estate, as well as for La Habra, La Habra Heights, La Mirada, Norwalk and Santa Fe Springs.

I can be reached via email at bob@willisrealtor.com or by phone at (562) 639-9400.

Whittier California Market Report on Homes for Sale in Whittwood – December 7, 2009

Bob Willis (Prudential California Realty, Whittier California) — Mon, 07 Dec 2009 20:33:54 -0600

This Market Report is for the Whittier, California neighborhood known as Whittwood. Here is information about Whittwood homes for sale, as well as homes that have sold in Whittwood.

First, let me tell you what part of Whittier I am talking about. The Whittwood area is bordered on the west by Colima Road, on the north by Whittier Boulevard, on the east by First Avenue and on the south by Lambert Road. Basically, the Whittwood neighborhood is centered around the Whittwood Town Center, south of Whittier Boulevard. All homes referenced in this article are within this Whittwood neighborhood.

This Market Report on Whittwood Homes for Sale will focus on Single Family Residences in this Whittier, California neighborhood.

As of today, there are 5 Single Family Residences for sale in the Whittwood area.

Seven homes are currently in escrow.

Two homes were sold during the month of November.

The average home in Whittwood that sold in November took 221 days to sell.

The average home sale price was $408,000, or an average cost per square foot of $256.44.

Over the past six months, 37 homes were sold in Whittwood, with an average sale price of $377,735, a cost per square foot of $263.41, and 67 days to sell.

It would take 1.5 months, at the current rate of sales, for all the current Whittwood homes on the market to sell.

A Sellers' Market is when there is less than 5 months of supply. Whittwood is currently in a very strong Sellers' Market. This Sellers' Market actually applies to all homes for sale in Whittier, CA that are priced under $500,000. Whittier homes for sale that are priced above $500,000 are more plentiful; and the higher the price, the more advantageous it is for the buyer being able to have more leverage and less competition from other buyers.

If you own a home in Whittwood, it is a very good time to sell. Demand is high, and there are lots of buyers in this price range looking for their first home.

Below are details of Whittwood Home Sales over the past year.

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Thank you for reading this Market Report on Homes for Sale in Whittwood, Whittier, California. If you like my blog, make sure you subscribe to my RSS feed to get the latest Whittier and Southern California real estate news from Bob Willis.

For Whittier homes, see Whittier Welcomes You, or my other website about Southern California Real Estate.

I provide service for Whittier properties, as well as for La Habra, La Habra Heights, La Mirada, Norwalk and Santa Fe Springs.

I can be reached via email at bob@willisrealtor.com or by phone at (562) 639-9400.

Market Report on Homes for Sale in Whittier, CA – December 7, 2009

Bob Willis (Prudential California Realty, Whittier California) — Mon, 07 Dec 2009 19:00:58 -0600

This Market Report is for Whittier, California.

This Market Report on Whittier Homes for Sale will focus on Single Family Residences in Whittier, California. It does not include condominiums or Multifamily Residences.

As of today, there are 236 Single Family Residences for sale in the Whittier area.

96 homes were sold during the month of November. Over the past three months, 315 homes were sold.

The average home sale price over the past month was $357,309, at an average cost per square foot of $233.54.

296 homes are currently in escrow, which is significant because more homes are in escrow right now than are for sale.

It would take 2.5 months, at the current rate of sales, for all the current Whittier homes on the market to sell. A Sellers' Market is when there is less than 5 months of supply. Whittier is currently in a very strong Sellers' Market.

So, this Sellers' Market actually applies to all homes for sale in Whittier, CA that are priced under $500,000. Whittier homes for sale that are priced above $500,000 are taking longer to sell. The higher the price, the more advantageous it is for the buyer being able to have more leverage and less competition from other buyers.

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Thank you for reading the above Market Report of Home Sales for Whittier, California. If you like my blog, make sure you subscribe to my RSS feed to get the latest Whittier real estate news.

For Whittier homes, see Whittier Welcomes You, or my other website about Southern California Real Estate.

I provide service for Whittier properties, as well as for La Habra, La Habra Heights, La Mirada, Norwalk and Santa Fe Springs.

I can be reached via email at bob@willisrealtor.com or by phone at (562) 639-9400.

East Whittier Home for Sale – 12146 Groveland Avenue, Whittier, CA 90604

Bob Willis (Prudential California Realty, Whittier California) — Fri, 04 Dec 2009 16:16:20 -0600

Regular Sale! Not a Short Sale. Not a Bank Owned house.

3 Bedrooms, 2 Bathrooms. 1,431 Square Feet Year Built: 1960 $440,000

A spacious and well-maintained home awaits you in one of the best neighborhoods of East Whittier. Features include beautiful new hardwood floors, a warm fireplace in the living room, upgraded windows, central air conditioning and a double attached garage. Outside, you will love the custom walkways, the beautiful landscaping and the koi pond. This beautiful East Whittier home is in move-in condition. Excellent schools and shopping.

Address: 12146 Groveland Avenue, Whittier, CA 90604

Directions from Whittier Blvd: South on First Avenue. Right on Candlelight. Left on Groveland.

The Best Christmas Ever, or, How I Learned that Mom was Really Santa Claus

Bob Willis (Prudential California Realty, Whittier California) — Fri, 04 Dec 2009 16:02:46 -0600

Do you have a great memory of your best Christmas? Mine goes way back to when I was a boy, and it stands far above any other Christmas.

In 1962, when I was nine years old, we were living in Pleasant View, Colorado. My maternal grandparents lived in Tacoma, Washington, and they invited us to stay with them for a week to celebrate the Christmas season. So, a week before Christmas, we piled into the station wagon and headed toward Washington. It was snowing as we headed west over the Continental Divide. We kids took turns lying in the back of the station wagon. We played gin rummy and read comic books to pass the time. When we arrived in Tacoma, it was drizzling.

On Christmas Eve, we had a huge feast of Turkey, mashed potatoes, gravy, stuffing, corn, green beans, stuffed celery, black olives and of course, several types of desserts. We all sat around the large table in the formal dining room and passed the food around. Grandpa enjoyed a couple of glasses of his homemade wine. In addition to a couple of different pies, my grandma had a special dessert that she called "pteetza". Earlier in the afternoon, I had helped her make it. We rolled out the dough, flat on the table. Then she would spread one of two different types of filling. It has been so long that I don't remember what the fillings were, but they were sweet, and had fine pieces of nuts in them. Then the dough would be rolled up into a loaf, stuffed into a loaf pan and baked. Yumm!

Do you remember the Christmas movie where the boy wanted a BB gun more than anything in the world? Well, at age 9, and living in a semi-rural part of Colorado, I wanted a pellet gun more than anything. I had outgrown my BB guns, and wanted something more powerful. My cousins had visited us during the previous summer, and they had brought their pellet guns, so naturally, I wanted the same type of rifle that my cousins had.

Grandma, Grandpa and my brother slept in the downstairs bedrooms, while my parents took the upstairs bedroom, and my sisters and I slept on fold-out beds in the room next to the upstairs bedroom.

I was determined to be awake when Santa Claus came in the middle of the night with the presents. I realized that if I put only a sheet above me in bed, that I would get cold in the middle of the night, and then I would wake up. It worked. I got cold at about 1 o'clock in the morning and woke up. So I stood up, only to hear my mother's voice from the adjoining bedroom, telling me to get back in bed and go to sleep. At that moment, I realized what I had long suspected, that my parents really bought the presents that I thought had come from Santa Claus. It was confirmation of what I knew, and I went back to bed, hoping that when I got up in the morning I would find my special present under the tree.

My sisters ended up waking me up in the morning, and we all went downstairs to see what was under the tree. I knew, by the shape of the wrapped box, what was waiting for me. Yes, it was the pellet gun. What joy! Later that morning, I was out in the forest, shooting at tree trunks and branches, and having a great time.

Grandma loved to get a new Christmas corsage to wear every year; and she insisted on buying one for my mother and my sisters for them to wear also. They added to the festivity of the season. She loved the colors of Christmas, especially because her favorite color was red. She always wore a bright red dress, her colorful corsage and the brightest red lipstick she could buy. And, to add to all the color, Grandpa had given her a large, red stuffed animal donkey. She absolutely loved it, and had it on her bed years after Grandpa passed away.

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Thank you for reading the blog post, The Best Christmas Ever. If you like my blog, make sure you subscribe to my RSS feed to get the latest Whittier real estate news.

For Whittier homes, see Whittier Welcomes You, or my other website about Southern California Real Estate.

I provide service for Whittier properties, as well as for La Habra, La Habra Heights, La Mirada, Norwalk and Santa Fe Springs.

I can be reached via email at bob@willisrealtor.com or by phone at (562) 639-9400.

Toys for Tots in Whittier California

Bob Willis (Prudential California Realty, Whittier California) — Fri, 27 Nov 2009 18:10:02 -0600

Every year, the U.S. Marines come by our office to pick up toys as part of their Toys for Tots program.

The Marines will be picking up all of the toys on Wednesday, December 16, 2009 at Noon at the Prudential California Realty office at 16218 East Whittier Blvd., Whittier, CA 90603. Click here for a map and directions.

Please make sure to bring your unwrapped gift, for a boy or girl, to our office before December 16. If you can't make it to the office, just give me a call, and I will drive to your house to pick up your toy donations.

Extended Home Buyer Tax Credit. This Really Is It!

Bob Willis (Prudential California Realty, Whittier California) — Wed, 18 Nov 2009 17:03:53 -0600

On November 7, 2009, the President signed into law an extension to the home buyer tax credit, with a few modifications. Here are the details:

$8,000 Tax Credit for First Time Home Buyers
$6,500 Tax Credit for people who have owned and lived in their home for at least five consecutive years out of the last eight years.
Individual income limit is $125,000.
Income limit for couples is $225,000.
The house must cost less than $800,000.
The offer to purchase must be made and accepted by the seller by April 30, 2010.
Escrow must close by June 30, 2010.
Tax credit will be for Federal Income Taxes.
Buyers must live in the new home for at least three years.

What a great opportunity to move up! If you are ready to sell your house and buy a better one, now is the time to do it. Not only may you get a $6,500 tax credit, but your property taxes and monthly mortgage payment will be much less than if you would have moved up two years ago, when prices were at their peak.

Back in September 2009 I said, This is it! The old tax credit was soon to expire. Well, now that it has been extended, THIS REALLY IS IT! The tax credit will probably NOT be extended once it expires on April 30, 2010.

If “you wanna be starting something, you got to be starting something.”

Enjoy Michael Jackson as he sings, you got to be startin’ somethin’.

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Thank you for reading the blog post, Extended Home Buyer Tax Credit. This Really Is It. If you like my blog, make sure you subscribe to my RSS feed to get the latest Whittier and Southern California real estate news from Bob Willis.

For Whittier real estate, see Whittier Welcomes You, or my other website about Southern California Real Estate. Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my ListingBook website.

I provide service for Whittier real estate, as well as for La Habra, La Habra Heights, La Mirada, Norwalk and Santa Fe Springs.

I can be reached via email at bob@willisrealtor.com or by phone at (562) 639-9400.

We are Having a Food Drive for the Gary Center

Bob Willis (Prudential California Realty, Whittier California) — Wed, 11 Nov 2009 15:53:15 -0600

As the holiday season approaches, the spirit of giving is a common thread connecting all Americans. Prudential California Realty and The Gary Center are committed to meeting a great need. The Gary Center’s Food Distribution Program feeds over 150 families each week!

The canned items which are most needed include pasta, rice, juice, canned tuna,

canned fruit and canned vegetables.

All food will be donated to the Food Distribution Program of the The Gary Center.

We are hosting our food drive until November 15 at our Prudential California Realty office at 16218 East Whittier Blvd., Whittier, CA 90603. Click here for a map and directions.

Here’s a bonus for you: When you donate, you will be entered into a free drawing for a $100 gift card!

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The Gary Center was named after Gary Stafford, who died of drug abuse in 1971. The Gary Center was formed by his parents to help others who suffer with drug dependence, and has grown into a nonprofit agency that helps over 10,000 people a year. A small part of its efforts go toward feeding people in need.

Market Report on Homes for Sale in Whittwood, Whittier, CA – November 6, 2009

Bob Willis (Prudential California Realty, Whittier California) — Sat, 07 Nov 2009 00:27:43 -0600

This Market Report is for the Whittier, California neighborhood known as Whittwood. Here is information about Whittwood homes for sale, as well as homes that have sold in Whittwood.

This Market Report on Whittwood Homes for Sale will focus on Single Family Residences in this Whittier, California neighborhood.

As of today, there are 3 Single Family Residences for sale in the Whittwood area.

Seven homes are currently in escrow.

Two homes were sold during the month of October.

The average home in Whittwood that sold in October took 32 days to sell.

The average home sale price was $398,750, or an average cost per square foot of $305.56.

Over the past six months, 31 homes were sold in Whittwood, with an average sale price of $378,690, a cost per square foot of $259.91, and 31 days to sell.

It would take 1.5 months, at the current rate of sales, for all the current Whittwood homes on the market to sell.

A Sellers’ Market is when there is less than 5 months of supply. Whittwood is currently in a very strong Sellers’ Market. This Sellers’ Market actually applies to all homes for sale in Whittier, CA that are priced under $500,000. Whittier homes for sale that are priced above $500,000 are more plentiful; and the higher the price, the more advantageous it is for the buyer being able to have more leverage and less competition from other buyers.

If you own a home in Whittwood, it is a very good time to sell. Demand is high, and there are lots of buyers in this price range looking for their first home.

Below are details of Whittwood Home Sales over the past year.

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I provide service for Whittier real estate, as well as for La Habra, La Habra Heights, La Mirada, Norwalk and Santa Fe Springs.

I can be reached via email at bob@willisrealtor.com or by phone at (562) 639-9400.

Take That Homes and Land Magazine and Shove It

Bob Willis (Prudential California Realty, Whittier California) — Fri, 06 Nov 2009 16:39:13 -0600

Take That Homes and Land Magazine and Shove It into the trunk of your car. Leave it there for the next five years. Then, take it out and look at all the homes. You are going to wish that you had bought every single home advertised in that old magazine.

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Thank you for reading the blog post, Take That Homes and Land Magazine and Shove It. If you like my blog, make sure you subscribe to my RSS feed to get the latest Whittier and Southern California real estate news from Bob Willis.

I provide service for Whittier real estate, as well as for La Habra, La Habra Heights, La Mirada, Norwalk and Santa Fe Springs.

I can be reached via email at bob@willisrealtor.com or by phone at (562) 639-9400.

Whittier California Market Report on Homes for Sale – November 4, 2009

Bob Willis (Prudential California Realty, Whittier California) — Wed, 04 Nov 2009 17:27:49 -0600

This Market Report is for Whittier, California.

This Market Report on Whittier Homes for Sale will focus on Single Family Residences in Whittier, California. It does not include condominiums or Multifamily Residences.

As of today, there are 232 Single Family Residences for sale in the Whittier area.

109 homes were sold during the month of September. Over the past three months, 316 homes were sold.

The average home sale price was $364,420, at an average cost per square foot of $242.78.

296 homes are currently in escrow, which is significant because more homes are in escrow right now than are for sale.

It would take 2.1 months, at the current rate of sales, for all the current Whittier homes on the market to sell. A Sellers’ Market is when there is less than 5 months of supply. Whittier is currently in a very strong Sellers’ Market.

So, this Sellers’ Market actually applies to all homes for sale in Whittier, CA that are priced under $500,000. Whittier homes for sale that are priced above $500,000 are taking longer to sell. The higher the price, the more advantageous it is for the buyer being able to have more leverage and less competition from other buyers.

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Thank you for reading my Whittier Real Estate Market Report. If you like my blog, make sure you subscribe to my RSS feed to get the latest Whittier real estate and Southern California real estate news from Bob Willis.

For Whittier real estate and homes for sale, see Whittier Welcomes You, or my other website about Southern California Real Estate. Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my ListingBook website.

I service the following towns in the greater Whittier area: La Habra, La Habra Heights, La Mirada, Norwalk and Santa Fe Springs.

I can be reached via email at bob@willisrealtor.com or by phone at (562) 639-9400.

Staging With Storage

Bob Willis (Prudential California Realty, Whittier California) — Wed, 04 Nov 2009 11:09:39 -0600

Staging With Storage

This video demonstrates some creative ways to declutter your home before you put it up for sale, and to keep it clean while the house is on the market.

It shows how to use boxes to:

get the kids' stuff up off the floor
hide toys
use an ottoman to store toys inside

Small boxes can be easily stored in a closet. Larger boxes can be decorated to match a room's decor, thus hiding toys in plain sight. Enjoy the brief video below.

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Thank you for reading the blog post, Staging With Storage. If you like my blog, make sure you subscribe to my RSS feed to get the latest Whittier and Southern California real estate news from Bob Willis.

I service the following towns in the greater Whittier area: La Habra, La Habra Heights, La Mirada, Norwalk and Santa Fe Springs.

I can be reached via email at bob@willisrealtor.com or by phone at (562) 639-9400.

16464 Lashburn Drive, Whittier, CA 90631

Bob Willis (Prudential California Realty, Whittier California) — Wed, 28 Oct 2009 15:47:14 -0500

Regular Sale! Not a Short Sale. Not a Bank Owned house.

3 Bedrooms, 2 Bathrooms. 1,591 Square Feet Year Built: 1955 $415,000

Central Air Conditioner
Finished Garage

A spacious and well-maintained home in one of the best neighborhoods of East Whittier. Features include beautiful hardwood floor in the living room, new carpet in the bedrooms ,new paint, large (permitted) family room, 200 amp electrical, inside laundry. This home sits on a huge, extra deep lot. The family room setup offers lots of flexibility: you could turn it into a large master bedroom, an extended family apartment, a game room or an office. All of this, and it’s in the Lowell Joint School District!

Address: 16464 Lashburn Drive, Whittier, CA 90631

Directions from Whittier Blvd: South on First Avenue. Left on Lashburn.

Directions from Leffingwell Road: North on First Avenue. Right on Lashburn.

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Thank you for reading the blog post about my Open House in Whittier. If you like my blog, make sure you subscribe to my RSS feed to get the latest La Habra, La Mirada, Whittier and Southern California real estate news from Bob Willis.

If you are looking for Whittier real estate, see Whittier Welcomes You, or my other website about Southern California Real Estate. Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my ListingBook website.

I service the following towns in the greater Whittier area: La Habra, La Habra Heights, La Mirada, Norwalk and Santa Fe Springs.

I can be reached via email at bob@willisrealtor.com or by phone at (562) 639-9400.

Open House Saturday and Sunday - 1431 S. O’Malley Lane, La Habra, CA 90631

Bob Willis (Prudential California Realty, Whittier California) — Tue, 27 Oct 2009 23:04:38 -0500

Christmas will be here soon! Wouldn’t you love to celebrate the holidays in your new home?

Open House This Weekend

Saturday and Sunday, November 14-15

1 p.m. - 4 p.m.

1431 S. O’Malley Lane, La Habra, CA 90631

5 Bedrooms, 3 Bathrooms. 2,776 Square Feet Year Built: 1989 $679,000

The fireplace is just waiting for you to hang your stockings. This turnkey home is ready and waiting for you – just move In and unpack.

It’s a well cared for La Habra executive home, located on secluded street in an excellent area, just north of La Mirada.

Features include a 3 car garage, tile roof, formal dining area, family room with fireplace, cathedral ceilings, covered concrete patio, and large bedrooms and a great an outdoor BBQ. The Master bedroom has His and Hers closets, double sinks, tub and shower.

Tweet and Share

Bob Willis (Prudential California Realty, Whittier California) — Sun, 25 Oct 2009 10:46:49 -0500

Testing out the Tweet and Share buttons.

Here's a quote from Community Manager, Brad Andersohn

"As important as Location, Location, Location is to Real Estate, so is the importance of Exposure, Exposure, Exposure to Bloggers. Some Bloggers offer their subscribers, readers, and visitors the ability to "share" their content with others via Twitter or Facebook. ActiveRain has the ReBlog Option, just like Wordpress and Blogger are doing now, but that only works for other AR members. Here's a way to help get your "Voice Heard" and your "Posts Seen" on two of the other Largest Social Networks in the World, and here's how others can help you do it."

And here's the secret to doing this:

Tweet this:

Share on Facebook:

Parnell Park, Whittier, California

Bob Willis (Prudential California Realty, Whittier California) — Thu, 22 Oct 2009 16:27:04 -0500

Parnell Park, Whittier, California

Located at 15390 Lambert Road, Parnell Park is bordered by Lambert, Scott and Mulberry.

Parnell Park is spacious, and has lots of picnic tables, barbecues and outdoor sinks for people who want to have a picnic. If you have a large group, you can reserve a section of tables by calling Whittier Park Department at (562) 464-3375.

The zoo has chickens, goats, Shetland ponies, geese and a few other barnyard animals. They are quite confined. There are not very many animals, but it does give city folk the opportunity to see some farm animals.

Freddie Mac Posts Video - Stop Foreclosure: Documents Your Lender Needs to Help You

Bob Willis (Prudential California Realty, Whittier California) — Thu, 15 Oct 2009 15:25:13 -0500

Freddi Mac has started to post useful videos on YouTube.

One of their first, and most informative videos is, Stop Foreclosure: Documents Your Lender Needs to Help You.

In just over 2 minutes, they explain that you will need the following documents when talking with your lender:

Monthly mortgage statement
Homeowner Association statement
Most recent pay stubs
W2s
Tax Returns
Statements for any other loans, including credit cards, car loans, student loans and other debts or obligations
Short statement about your financial hardship

NOTE: Make sure you contact your accountant or financial advisor for any advice regarding these matters.

Market Report on Homes for Sale in Whittier, CA – October 7, 2009

Bob Willis (Prudential California Realty, Whittier California) — Wed, 07 Oct 2009 16:35:17 -0500

This Market Report is for Whittier, California.

This Market Report on Whittier Homes for Sale will focus on Single Family Residences in Whittier, California.

As of today, there are 260 Single Family Residences for sale in the Whittier area.

98 homes were sold during the month of September.

The average home sale price was $358,858, or an average cost per square foot of $250.81.

289 homes are currently in escrow, which is significant because more homes are in escrow right now than are for sale.

It would take 2.7 months, at the current rate of sales, for all the current Whittier homes on the market to sell. A Sellers' Market is when there is less than 5 months of supply. Whittier is currently in a very strong Sellers' Market.

I Saw Their Home Two Years Before the Bank Foreclosed

Bob Willis (Prudential California Realty, Whittier California) — Sun, 04 Oct 2009 20:47:14 -0500

Today I was previewing homes in the area. As I drove up to the last one on the list, I recognized the custom brickwork on the front of the house immediately. It really stands out as one of the prettiest homes on the block. Two and a half years ago, I had given a listing presentation to the owners of the property. They loved my marketing plan, but just had to talk it over.

I followed up a day later, and the husband was ready to sell. The wife wasn't so sure. Over the next couple of weeks we had many phone conversations; and they kept putting off making a decision. About a month later, I phoned him again, and he said they had decided to refinance, and stay put. At the time they had a negative amortization loan, and were having trouble even making those payments. I wished them the best, and kept them in my regular mailings.

Last December, I had sent them a Christmas card, and it came back. It could not be forwarded, said the yellow label on it.

So, today, I discovered that their beautiful house is now a bank owned property. I wished I could have helped them back in March 2007. At that time, their home would have been listed for about $475,000. They would have just about broken even if they had sold the house then.

I told a fellow agent about it today, and she said to me that she knew I had tried to help them; and she also said that we can't help them all. This is the human side of the decline in house values, and the effects it has been having on peoples' lives. I don't know where they went; I just know that they lost their home.

Today, the house is listed for $315,000.

Ten Reasons Why Buyers Want Your House More Than Any Bank Owned Property or Short Sale

Bob Willis (Prudential California Realty, Whittier California) — Mon, 28 Sep 2009 14:57:18 -0500

Many potential home buyers are looking for a great deal. That is why many of them are thinking about buying a bank repo or a short sale property. Many buyers may be surprised that the best deals out there may actually be owner occupied homes in great condition that are priced a little bit higher than bank repos, and a lot higher than many short sales.

Number One: Since you can make a decision immediately, buyers don’t have to wait for days, like they do for a bank owned property, or for weeks or months, like they may have to do with a short sale.

Number Two: Most sellers are willing to counter a fairly good offer. If a bank repo has 6, 12 or 24 offers, they don’t even bother to counter most offers.

Number Three: Your home is probably in better condition than a bank repo.

Number Four: You have spruced up the house, and it looks like a very welcome home.

Number Five: You have staged your home to make potential buyers love it.

Number Six: Many bank owned properties will require too much money in repairs just to get them up to neighborhood average condition. I have seen many bank owned properties that will require $30,000 or more in repairs or upgrades next door to upgraded homes that won’t require any work that are priced within $10,000 of each other.

Number Seven: Often, banks will not do any repairs or pay for any termite treatment.

Number Eight: Your house still has all the appliances; and they actually work.

Number Nine: Your house still has toilets.

Number Ten: Your house is clean, furnished and looks lived in. It’s a home that someone wants to make their home.

Cash is King (Especially if you want to buy a bank owned home)

Bob Willis (Prudential California Realty, Whittier California) — Mon, 28 Sep 2009 14:28:32 -0500

You’ve heard the expression before, “Cash is King.” Today, it applies especially well to buying a bank owned property, also known as an REO (Real Estate Owned by the bank).

Unlike a regular sale of a home, there is no emotion is involved on the bank’s side when a bank sells a property. They are looking primarily at the bottom line. They are selling what some people may consider an asset, but what they consider to be a liability. They want to get the property off their books; but they want to get the most money they can for it.

The strongest offers will:

Be all cash
Not request any closing costs
Not ask for any repairs
Not ask for a home warranty policy
Not request any termite treatment

So, what do you get when you don’t ask for anything special? You get a house at a rock bottom price that is not in the best condition. Be prepared to have some additional cash on hand for making repairs.

Who is coming to the table with cash? Mostly investors, at this time. There are actually several investors in the Whittier area who are buying houses for cash, fixing them up and selling them weeks later for a profit. And, after they are fixed up, they are selling very quickly in this market.

Now, it is very difficult for a first time buyer, with a small down payment, to buy a home that is priced under $400,000. Competition is fierce. So, your offer needs to be as strong as you can make it.

How else can you increase the odds of getting that bank owned home?

Offer a larger down payment. The larger the down payment, the greater chance of getting an offer accepted.
Increase your Good Faith Deposit to 3% of the purchase price. Sellers will look at you as a more serious buyer.

If you have to finance the purchase with a loan (mortgage) what are the best loans for purchasing a bank owned home?

Top of the list is to get a conventional loan, with a high down payment. If you can do a 50% down payment, then so much the better.
Next, a conventional loan with the traditional 20% down payment.
Then, a conventional loan with 10% down.
Next, government sponsored loans, such as a VA or CalSTRS loan. Although a CalSTRS loan is conventional, most banks are not familiar with it, and would consider it to be an exotic way to fund the purchase.
Finally, you can try to buy with an FHA loan, which is perhaps the most difficult offer to get accepted on a bank owned property. Banks don’t want to have to do any repairs that would be required for an FHA loan. They want to sell the property “AS IS”.

The higher you are on this list, the better your chances are for getting your offer accepted.

This is It!

Bob Willis (Prudential California Realty, Whittier California) — Sun, 27 Sep 2009 15:33:59 -0500

So you all are waiting for the new movie about Michael Jackson’s never-to-be final concert: This is It.

You may be waiting in line to get your tickets for the October 27 premiere; but there is a much more important date on the horizon. It is November 30, which is the last day you have to be eligible for the First Time Home Buyer $8,000 Tax Credit.

No, at the end of September, you have just 2 months to wrap up your deal. You have about 30 days to find a home and 30 days to close escrow. It can still happen for you, if everything goes well, and there are no glitches to delay the transaction.

The fact is, you are running out of time. It’s going to be hard to Beat It. At this point, you may be better off accepting the notion that you won’t be able to get the $8,000 Tax Credit for First Time Home Buyers.

If you are just starting your search, you can expect to run into fierce competition for any properties on the market, especially in Whittier, and the rest of Southern California. That means you will be bidding against all the other First Time Home Buyers who want to cash in on the $8,000 Tax Credit before it expires.

If you want to buy a home now, don’t do it for the $8,000 Tax Credit. Do it because you want to own a home of your own. Now, that would be a real Thriller. The next time you take a look at the Man in the Mirror, you could be looking at a home owner. And that wouldn’t be bad, would it?

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By the way, the picture above is at the Gold Mine VW store on Pickering Boulevard in Whittier. They change the mannequin in the display from time to time, and, before Michael Jackson, they had Octomom in the display.

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About the author: The above Article about the $8,000 Tax Credit was provided by Bob Willis, a Whittier Realtor®. Bob can be reached via email at bob@willisrealtor.com or by phone at (562) 639-9400.

For Whittier real estate, see Whittier Welcomes You. Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my ListingBook website.

I service the following towns in the greater Whittier area: La Habra, La Habra Heights, La Mirada, Norwalk and Santa Fe Springs.

Whittier Home Inventory Dries Up

Bob Willis (Prudential California Realty, Whittier California) — Wed, 23 Sep 2009 16:44:41 -0500

Homes for sale in Whittier, California are at the lowest levels in several years.

Today, September 23, 2009, there are a total of 283 properties for sale in the City of Whittier.

A year and a half ago, on May 25, 2008, there were 888 properties for sale in Whittier. The tables have significantly turned here in Southern California, making it a much better time to sell a home right now, rather than try to buy one.

A year ago, buyers could really pick and choose what properties they wanted to buy. Now, with the inventory of homes so low, it is really a dog-eat-dog world out there, with buyers competing aggressively for any decent house priced less than $400,000.

Buyers and sellers can each find something positive in this news.

Buyers can still buy a home at rock bottom prices. However, they have to be aggressive in making strong offers.

Sellers who need to sell, and who are realistic about today’s market prices, can sell their homes. There are lots of buyers out there, just waiting for your home to come on the market. But sellers need to understand that they won’t be able to sell the house for the amount they could have received for it two years ago, or even one year ago.

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About the author: The above Article about the City of Whittier home inventory was provided by Bob Willis, a Whittier Realtor®. Bob can be reached via email at bob@willisrealtor.com or by phone at (562) 639-9400.

For Whittier real estate, see Whittier Welcomes You. Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my ListingBook website.

I service the following towns in the greater Whittier area: La Habra, La Habra Heights, La Mirada, Norwalk and Santa Fe Springs.

A Rant: Common Courtesy is Not Very Common, Especially in the Supermarket

Bob Willis (Prudential California Realty, Whittier California) — Thu, 17 Sep 2009 16:16:16 -0500

I don’t usually rant much on my blog, but I just had to get something off my chest.

Any trip to the supermarket will result in several different levels of people acting with respect and courtesy, as well as people acting like total boors.

If you are entering the door of a public building, it is common courtesy to yield to someone who is leaving a building (this applies to someone exiting an elevator also). If you are entering a store, you should always allow the person exiting the store to go through the door first.

Many people just seem to be oblivious to how rude they are in the supermarket. Particularly irritating are people who inconsiderately block the aisle.

First you have the person who walks to the side of the shopping cart, steering it with one hand and taking up the width of two shopping carts, seemingly oblivious to the fact that they are blocking the way.

Then you have people who park a shopping cart in the middle of an aisle, so no one can pass.

Then you have the undecided shopper who stands in front of a shelf and blocks anyone’s access to it by parking their cart and self in front of the shelf so that nobody can get to the merchandise, while who knows what decision making process has stopped your brain from functioning completely.

Do these people just not think about how rude they are? Do they just not care? Or, were they never taught manners and how to be considerate of other people?

Then you have the clod who takes 30 items to the checkout station with the light that says, “10 Items or Less”.

And to top off the wonderful shopping experience, after you pay for your groceries, the clerk says to you, “Here ya go.” I’m never sure how to respond to that, but what I’d like to say is, “Didn’t your mother ever teach you how to say thank you?”

Our society seems to be suffering from a lack of consideration for other people.

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Buy a Harley or Buy a Home?

Bob Willis (Prudential California Realty, Whittier California) — Thu, 03 Sep 2009 17:44:34 -0500

I just wrote an article about home sellers selling their Harleys or ruining their credit, and it made me think about what people may be willing to give up in order to buy a home.

Would you rather spend your money on toys and have fun today, or put your money into a home and build a future? I have known some adults (mostly men) who have every type of wheeled vehicle you could imagine, including ATVs, motorcycles, RVs, campers, trailers, Skidoos, speed boats and dirt bikes, but who don’t have a dime for a down payment on a home.

As I explained in 10 Ways to Come Up With a Down Payment, selling off nonessential toys can really help someone become a home owner. There are many tradeoffs in life, and sometimes it boils down to immediate self-gratification being more important to someone than the long-term benefits of home ownership.

So how about you? Are you ready to make the sacrifices it takes to become a home owner? Or, is your “hog” more important to you than the roof over your head?

-Blog End-