John's Blog

Text Your Thoughts & Thanks to Our Troops

John Mayne & Associates (Coldwell Banker Previews International) — Wed, 21 Nov 2007 19:58:03 -0600

Again, please pardon me if you're aware of this, but I think this is just so cool, everyone should know about it.

Regardless of your politics, regardless of your opinion of the war, there are so many brave young Americans far from home for yet another Thanksgiving.

Take a minute, grab your cell, and text a "Thank you" to 89279. Your message will be sent through a general delivery system, then sent to an individual service person who will read your words. In addition to anything they've received from home, believe me, anything they receive in addition to let them know someone is thinking of them... I've sent at least 10 messages, and each time, almost immediately, I receive a heartfelt thanks from some young man or woman in Iraq or Afghanistan. Their words are guaranteed to warm your heart!

News for Which We Can All Give Thanks

John Mayne & Associates (Coldwell Banker Previews International) — Wed, 21 Nov 2007 19:43:35 -0600

I found the following in Inman News and felt compelled to get it out there. Those of you who regularly read my blog know I've touched on this subject more than once, so to see it put so succinctly, well, I just had to share it. Please pardon me if you've already seen this excellent piece by Bernice Ross:

I am sick and tired of the negative media constantly ranting about how horrible everything is in our business. It's time for our industry to fight back against these psychic vampires who seek to suck every bit of hope and optimism out of us just to build their circulation.

Newspaper headlines and buzzwords abound, such as: "Two million people will lose their homes in foreclosure in the next two years!" "Subprime Fiasco!" and "Mortgage Meltdown."

These are the headlines we hear every day, yet where is the positive news about the real estate market? The answer is, buried in statistics on page 15 of section 3 of your newspaper, provided you can find them at all.

Here's a typical example from USA Today, Oct. 26, 2007, page 1B:

New Home Sales Unexpectedly Rise

New homes sales posted an unexpected increase in September. But analysts were highly skeptical given the credit crunch and predicted further sales declines. The Commerce Department said sales of new homes rose 4.8 percent last month..."

By the way, here's what they didn't report. Sales in the West were up 36.6 percent. The media totally discounted these statistics. What about a different headline: "Great News! Real Estate Sales Surge Despite Biggest Credit Crunch in Decades"?

Here's another example. In Sept. 6, 2007, article entitled, "New Mortgage Foreclosures Set Record," Martin Crutsinger provided the following summary of a speech given by Doug Duncan, the chief economist for the National Mortgage Bankers Association. Here's how it was reported:

"The number of homeowners receiving foreclosure notices hit a record high in the spring, driven up by problems with subprime mortgages. The Mortgage Bankers Association reported Thursday that mortgage-holders starting the foreclosure process in the April-June quarter reached 0.65 percent, marking the third consecutive quarter that this figure has set an all-time high.

"The delinquency rate has risen to 5.12 percent ... The worsening performance was driven by two factors - heavy losses in the Midwest states of Ohio, Michigan and Indiana, and the collapse of previously booming housing markets in California, Florida, Nevada and Arizona ... Analysts said the problems in the formerly red-hot housing markets of California, Florida, Nevada and Arizona reflected in part speculators walking away from mortgages they can no longer afford."

This article ends with the negative media's favorite theme for scaring their readers and/or listeners: "Two million people will face foreclosure in the next two years."

Here are the numbers that the negative media did NOT report from Duncan's speech:

1. Thirty-five percent of the homes in the U.S. do NOT have a mortgage.

2. Some 94.88 percent of the loans ARE performing.

3. The foreclosure problem in this country is really a story about seven states.

4. The biggest foreclosure problems are in Michigan, Ohio and Indiana. These are manufacturing states that had horrible job losses. Since 2001, Michigan has lost 300,000 jobs. These states would probably have had problems no matter what the market was doing.

5. The other four states - California, Florida, Nevada and Arizona - experienced significant overbuilding. Twenty-five percent of the foreclosures in these states are on properties that are held by investors who were speculating.

6. Only 25 percent of all mortgages are subprime, and of these, 75 percent are performing.

7. In the other 43 states, foreclosures have fallen in 2007 from 2006 (data from Michael Clawson, vice president, Central Texas Mortgage).

Furthermore, buyers who are waiting to purchase when the so-called bubble pops in California's major metropolitan areas are going to be sitting on the sidelines, according to the latest data from a state Realtor group.

According to Leslie Appleton Young, chief economist for the California Association of Realtors, the areas being hardest hit in California are the outlying areas where there has been overbuilding. The resale market in California's major markets continues to be strong. In fact, the closer you are to a metropolitan area, the better the sales are. In the million-dollar-plus price range, there has been essentially no change from 2006 to 2007.

There's no question about the fact that there is bad news in some markets. What irks me is that there is also a lot of good news that is either being buried or is not being reported at all.

******

Copy it and send it to your clients, your sphere, send it to your lenders, send it to ANYONE considering buying or selling in this "terrible" market.

Happy Thanksgiving to one and all :)

Getting Warm & Fuzzy Over a List Price

John Mayne & Associates (Coldwell Banker Previews International) — Mon, 05 Nov 2007 17:50:01 -0600

Talk about gratifying. Even if the comments made by agents were pure lip service, still... very gratifying.

Since I'm a native to the area, and not exactly new to the business, I pride myself on knowing the local property values. Of course, I also try to convince my clients to be realistic when setting a list price. But, when you hold a broker's open house, then your first public open house three days later, and ninety-five percent of the comments regarding the list price you and your sellers' decided upon, are positive, from both agents and buyers (and of course, the predictable slew of looky-loo neighbors who come through a premiere open house), again, it is very gratifying.

In fact, the percentage mentioned above is probably a little low. Now that I think about it, there were only two agents out of the over 40 who showed up for the BOH who had less than positive statements. One in particular stands out in my memory as exceptionally snide... well, let's call a spade a spade - she was downright insulting. But, in the face of adversity, I smiled, thanked her for her input, and wished her luck with her own listings.

My listing in the Hollywood Riviera is not only a delight to behold, lay claim to as the agent representing the sellers', it has now been given the seal of approval by both agents and potential buyers. And why not? It is, after all, completely remodeled, right down to every solid door with Baldwin hardware... everything you see, everything you DON'T see... is new. The 40 year roof, plumbing, electrical, the attic mounted forced air unit... all new.

So? What are you waiting for? My clients are looking for offers! If you're not working with an agent, contact me today! If you have an agent, they know how to reach me. If you're looking for a truly turn-key home in a quiet neighborhood, one with great schools, a family-oriented atmosphere, AND quick access to the beach...

Let's see those offers!

Some New Light Shed on "The Mortgage Meltdown"

John Mayne & Associates (Coldwell Banker Previews International) — Wed, 31 Oct 2007 07:24:04 -0500

In addition to allowing what's visible below to speak for itself, I just want to add I'm grateful to be associated with a great organization like Coldwell Banker. They take the strides necessary to keep their associates well informed. And while I've been saying the media has been blowing things out of proportion for too long in previous posts, and telling people at open houses here locally that our local market isn't part of said sensationalizing, a picture (of sorts) says 1,000 words:

Food for thought. Bon appetit!

Warning: Blatant Self Promotional Listing Plug & Charity Post!

John Mayne & Associates (Coldwell Banker Previews International) — Thu, 25 Oct 2007 09:33:04 -0500

South Bay buyers interested in the Upper Riviera, or Agents with buyers for same: please come to my first broker open house, one week from today, public open a week from Sunday. MLS # P957084

This listing is well worth the trip! And if that link didn't convince you, click here for the virtual tour!

Sorry... it had to be done. I promise I'll behave now. NOT!

Seriously, it's a great listing, and also, very seriously, now is the time to step up, dig into our pockets and let some cash flow to help our fire-stricken neighbors. I know Coldwell Banker is collecting donations, I'm sure your Broker is, too. Imagine yourself on the other side!

Even if it's just a dollar, make that donation!

Thanks!

Plagiarism for Points? A Follow Up

John Mayne & Associates (Coldwell Banker Previews International) — Mon, 22 Oct 2007 07:30:13 -0500

Nothing like settling back with a cup of coffee after a productive weekend and... hold it. I was going to write "post to one of my favorite RE sites."

However, now that I see the statement in black and white, I'm forced to take stock and reconsider the weight of those words.

"Favorite:" 'One that is trusted, indulged, or preferred above all others,' is one definition of the word. Once that is factored in, I'm forced to hearken back to my post of 9/7/07, think of all the comments and private emails I received, e.g.: "Yes, it's a problem but they eventually get to each one of the bad posts."

Really?

When?

The posts I originally found myself frustrated over are still out there, on-line, unjustly giving credit to someone for another's work.

Perhaps what surprises me more than the actual topic, were some of the responses I received: "What do YOU care what other people write or where they get their information?"

Answering a question with a question isn't really my thing, but... has anyone, including those in charge at AR, ever heard of ethics and integrity? I mean, here we are, almost 2 months after my original post, and its as if nothing was ever said.

As a published author myself, I can tell you that if someone took my words, posted them on-line, and took credit for them, I'd be a little more than slightly agitated.

I think now that I've been away for a while, taking some new listings and working with buyers, I'm going to spend a little more time on AR, and watch... lurk. Lurking has its place. Lurking can be fun; try it! I'll lurk, and see if anything changes.

If not, as childish as the "I'm gonna take my toys and go home" attitude may sound, deleting my profile is something that comes to mind.

Why should I contribute my time and effort to a site that takes little or no action to police its content?

I remain, frustrated, and some may say full of it,

This Busy in a "Slow" Market?

John Mayne & Associates (Coldwell Banker Previews International) — Wed, 17 Oct 2007 10:39:45 -0500

Well, it certainly has been a while! I'm so overdue to post and so many things have happened, I'm not sure where to begin! Thankfully, if I may be permitted the use of the term: "It's all good!" I've been so busy showing and negotiating, it feels like 2004, my best year ever, all over again.

In addition to my West High area listing, I now have a pocket listing, (a signed listing not yet on the MLS), in the Hollywood Riviera, and a listing appointment in the same neighborhood today at 2.

There's a virtual tour of the pocket listing on my site in the Featured Listings section. I switched back to Circlepix after using FloorPlansOnline.com for a couple years for several reasons. FloorPlansOnline.com is a great source for online tours, however, my personal opinion is their platform is more appropriate for homes in the 3,000 sq. ft. category. As the name implies, they not only provide the pictures, but the photographer they send is also a licensed appraiser, who tapes then provides a floor plan of the property. Again, more appropriate for larger, more elaborate homes for which a diagram of the floor plan to accompany the photos online will give the consumer a better idea of the flow of the house, more so than just the photos and tour itself.

The downside to FloorPlansOnline.com is, while well done and easy to navigate, the virtual tour itself is really nothing more than a slideshow. That negative is partially offset by the camera icons shown in the floor plans. Click in the icon, a photo appears, and gives the viewer a sense of how the home looks from where the photo was actually taken.

Also, and again, in my opinoin, Circlepix offers a printable flyer in their package I find to be much more attractive. And for a few dollars more, you can have your branded tour burned to CD's, a fantastic way to market your listing, your website, AND yourself... better than a business card ANY day.

So, in addition to virtual tours, writing ad copy, studying for my Architectural Division acceptance test, AND helping to get a non-profit organization off the ground, (stay tuned for more info!), I've been holding open houses, as well as showing property nearly every day for the last month. Suffice it to say, there hasn't been a lot of time in this Agent's life to devote to blogging!

But I would like local agents and home buyers to know we are hoping to hear from you! All of my local sellers, of course, have different levels of motivation, but we're looking for your offers! Particularly, the owner of the vacant lot I have listed in Rolling Hills Estates - 899k for over a half acre of prime Palos Verdes Peninsula land? Take advantage of a below market value price!

If you have any questions about my active or any of my pocket listings, have your agent get in touch with me, or, if you're not working with an agent, contact me today! I'll be happy to speak with you, and grateful for the opportunity to compete for your business.

Luxury Market Slow?

John Mayne & Associates (Coldwell Banker Previews International) — Mon, 24 Sep 2007 04:39:23 -0500

Not in the South Bay. While I wish I could say it was my sale, it wasn't. But I had the privilege of working with and still know the selling agent, and congratulations to you, Kevin.

After a mere 13 days on the market, a fabulous ocean front masterpiece in Manhattan Beach closed on the 21st, selling for 10,700,000.00, 200k less than the original asking price.

In addition to congratulating my former associate, I want to make a point. And that is, if you go back through some of my posts, you will find a topic I've touched on a few times as of late: the media sensationalizes the "doom and gloom," or, as I've come to know it: "Pick and Choose Reporting." More often than not, the positive strides being made daily to "turn the (national) market around" are overlooked.

The media speaks of "the Real Estate Market," almost 100 percent of the time, as one "thing," on a national basis. What is sorely lacking in their reporting is that within that one, national market, are hundreds of thousands of individual markets, each an entity unto itself. As such, the statistics vary. Some markets, in fact, many market areas, are thriving.

Questions about the market? Please contact me today!

"I say, Holmes, (or Homes), what's that you found?"

John Mayne & Associates (Coldwell Banker Previews International) — Sun, 16 Sep 2007 02:07:13 -0500

Well, my dear Watson, a great home inspector!

Look, if the Department of Real Estate views the topic as serious enough to require a separate disclosure, as they have for several years now, (Buyer's Inspection Advisory form BIA-A - page 9 and 10 of th CA RPA), having a great home inspection company as part of your team is essential.

Before I go any further, I should point out there are liability issues here, so be sure to convey to your clients that the company they choose to inspect their new home is just that: THEIR choice.

Once that's done, there's no harm, no foul in recommending a company you know and work with regularly as long as your clients understand that you are not liable for anything the company you recommend overlooks or otherwise misses.

Precisely why, here in the South Bay and Palos Verdes, I've been more than satisfied with the Elite Group again and again. I've been using them for nearly a decade, and my clients love them.

So, those of you in the early stages of escrow and unaware of this great group of people, give them a try! They were one of the first to show up for an inspection with laptops and portable printers, and one of the first to offer same day viewing of the entire report on the Web, available online in PDF format for two weeks from date of inspection.

Thorough and competitively priced, they're deal makers, not deal breakers.

Hermosa Sand Section

John Mayne & Associates (Coldwell Banker Previews International) — Wed, 12 Sep 2007 11:32:16 -0500

I consider myself a relative newbie with regard to posting here on AR. During the time I've been getting acquainted with protocol, I've noticed polar opposite opinions on announcing listings in blog posts, whether it is the proper forum, etc.

Since there seems to be a bit of controversy and no set rule as to whether this is acceptable or not, I'm going to take my chances, but before I continue, please allow me to say that if the practice is indeed frowned upon, my apologies to any I've offended. That said, considering I've flagged certain posts that were blatant cases of plagiarism and the staff at AR have chosen not to respond to any of my FOUR notifications, I don't think this post should be considered too far out of the realm of "acceptable behavior." Sounds like the beginning of anarchy ;)

I digress.

I have a wonderful opportunity for the right buyer, and a chance for an any agent to make a substantial amount of cash, including a 10k selling bonus (contact me for requirements and pricing).

Unobstucted views from Malibu to Catalina in this 2006 custom built masterpiece, situated a few scant feet from the sand. An entertainer's dream of a floor plan sweeps you through the nearly 4,000 square feet of luxurious living space. Hear the waves and take in one fabulous sunset after another from the master suite, it's balcony, the one above it, or from the roof top deck replete with fire-pit and surround sound. On the MLS mid to late September. Please contact mefor pricing and showing instructions.

Plagiarism for Points?

John Mayne & Associates (Coldwell Banker Previews International) — Fri, 07 Sep 2007 19:49:05 -0500

I mean, come on. Has it come to this, or, as I'm still a relative newbie to blogging on AR, is it an age old problem?

Don't these people know how easy it is to find if the content they post is original, or some re-hashed, hastily re-written, or worse, a direct rip off of another author's words?

For example... block and copy one of my recent blog posts, Google it, and... D'oh!

Yes, it was a little slow for me today, so I was able to read some great posts, get some wonderful ideas, as well as share some. But something else caught my eye... a blog with someone straight out of the Terminator to type that fast, let alone think of all those topics, make sure they were all grammatically correct, etc. So, I did a little copying and pasting of my own. Allow me to be clear: I'm ALL for self-promotion, people. But I'm even more for ethics.

I think that's it for today. Hmmm... I'll be with clients tomorrow, so that means at least 3 hours away from the puter. My points!! AAAAH, whata world, whata world...

Have a great weekend, everyone... go sell something!

Please Order a Copy of My New Book!

Recently Awarded by Goldline Research

Profit or Preservation

John Mayne & Associates (Coldwell Banker Previews International) — Fri, 07 Sep 2007 15:51:25 -0500

I recently walked the length of the Stand in Hermosa. It left me feeling rather wistful, even a little sad. While you'd never know it looking at me now, I've finished the L.A. Marathon three times.

I can't begin to put a number of how many times I've run up and down that stretch of beach while training. Of course, those days are well in the archives now, over a decade ago. Which is probably why my stroll took me by such great surprise. Back then, one of the things I'd do to take my mind off the physical challenge I was putting my body through was to look at each home as I ran by. After about 10 years of training, I knew every facade, every unique external feature of the homes, old and new.

As a real estate agent, one who works with developers, and understands the concept of "functional obsolescence," I can easily understand the changes. But as someone who has loved Hermosa Beach as long as I have, I couldn't help but wonder... "why?" I mean, could you imagine Hermosa without Martha's, or the Bottle Inn... or the Green Store? It's hard to fathom the dairy on Pier not being there, but it's now on the market...

Some of those older, "funkier" beach houses were ready for the dozers. But some had such character... were such landmarks... I found myself wondering why a preservation society, much like what they have in place in nearby Redondo, couldn't have been enacted.

I know, to hear an agent speaking against the development of prime, beachfront property may strike some as odd. But those of us who had the privilege of knowing the Strand in Hermosa as it once was, THEY understand.

Profit, progress... is there no room for preservation?

Just a thought from the "we need to leave SOME things intact" department.

A Newbie Worth His Salt

John Mayne & Associates (Coldwell Banker Previews International) — Fri, 07 Sep 2007 15:02:17 -0500

Well, I'm happy to see we now have Mr. Michael Boito amongst our ranks as a Hermosa Beach local.

Not only is Mike a great guy and a creative, aggressive lender, he's a former client of mine. I listed and sold his condo out in Studio City, and helped Mike and his beautiful wife Jen find the town house in which they now reside, about 2 blocks from the water in Hermosa.

In today's mortgage market, where low FICO scores and minimal down payments are often deal killers, call Mike. If anyone can get a tough loan done in today's market, Mike's your man!

A Sign of the Times

John Mayne & Associates (Coldwell Banker Previews International) — Fri, 07 Sep 2007 13:47:56 -0500

Here's a question I'm really interested to hear some feedback on.

Your yard signs... whose number is on it, yours, or your brokers?

In my office, there's sort of a hierarchy system in place. The agents who've been in the office for X amount of time, they're allowed to have their direct line on their signs.

Newer agents are not.

No one is allowed to put their home office number on their signs, and, for someone who works from home, I can tell you checking 3 or 4 different voice-mails IS a hassle. But having come from a management background, I understand the thinking here... sorta.

Any thoughts?

To Cart or Not to Cart

John Mayne & Associates (Coldwell Banker Previews International) — Fri, 07 Sep 2007 01:36:59 -0500

Okay, it's no secret. We're all trying to separate ourselves from the pack in the local market. After all, everyone knows someone who knows a Realtor® And, while my work ethic of "I'm only as good as my last transaction" always keeps "I'm here to look after my client's best interests, provide them with the best service available" at the forefront my mind is great; it helps me to show my clients I care, and, more often than not, I eventually get a referral...

Operative word: "eventually."

Yes, word of mouth is the best advertising you can ask for because A) It's from a neutral third party, and B), with the exception you put into the client's transaction to ensure it went flawlessly, it's free!

Which is why it can, at times, be hard to come by.

Before I go any further, allow me to say there are no right or wrong answers to the following... I'm simply looking for...

Opinions.

Back in 1999, I launched my first real estate website. I would go to preview properties with an old Sony Mavica, the kind that used a 3.5 inch floppy (still have and LOVE that camera!)... for a while, I found myself teaching classes in my office on email etiquette, and how to attach jpegs. "No, dear colleague, Jay Peg was not my high school place kicker, it's the picture of the house you're trying to sell your client via email."

Sell via email?

While true, not many, but I've closed at least 3 transaction in which I didn't meet my client until the final walk through. And in one case, (as seen on the testimonials page of my site), I represented a seller who was the administrator of a rather volatile trust, and we never met once!

I had inadvertently become the office tech geek.

In 2002, having learned from my mistakes working on my first site, (and while I held most of my office colleagues near and dear to my heart, I quickly learned that teaching classes wasn't going to close many escrows... at least, not my own), I launched what became, for three years, the backbone of my business, my second, and larger site. My all time record was 105,000 unique visitors in one month. And, I stopped working in the office.

(Allow me to pause and wipe the nostalgic tear from my eye). 105,000 visitors in one month. In less than 18 months, that site helped me sell my way into the International President's Elite, the top 5 % of Coldwell Agents nation wide.

Why, then, you may ask, the nostalgic tear?

Back then, maybe one in every 20 agents had a website. Now, locally? During my listing presentations, one of my "wow" factors was the traffic I received on my site. I'd build up to that in my presentation, and about two years ago, instead of their eyes being glued to what I was showing them, I started noticing they would instead be looking up at me with a look on their face that said "Every agent I've interviewed claims to have the best site traffic, for that matter, the best SITE, since sliced bread."

I'd then bring up the fact that I have not one, but two privately owned and operated sites. Combine that with the proprietary software Coldwell Banker uses, the award winning Lead Router, our exclusive agreement with Realtor.com, our own site CaliforniaMoves.com, and then my affiliation with Who's Who in Luxury Real Estate, and, thankfully, they start to lean back across the table, and the tiny beads of sweat forming on my forehead begin to dissipate.

"So, what do you want an opinion on, ya windbag?"

Again, I'm thankful for my referrals, (I'm getting ready to list a property that is a referral), I'm working with several buyers who were either referred to me or had heard about me by mutual acquaintance. BUT... there's always room for more!

So, for those of you brave souls who have come this far, my question to you is, what additional method of advertising do you find works best for you? Specifically, I'd like to hear back from LOCAL agents who have tried the shopping cart ads.

I've used the conveyer belt separators in grocery stores, where heads of lettuce and spilled... stuff... manages to spill all over your face and contact info... I've tried bus benches. I've done the consistent, week after week presence in what once was the local throw away paper which has now evolved into the South Bay real Estate Bible. And, of course, I got pulled into pay per click for nearly all of '04, sometimes hitting $600 a week.

I have my own opinion on each of the above, the effectiveness of each, or lack thereof. I'd like to hear from you, my fellow So. Bay AR brethren. And, if you're out of the area and care to chime in, have at it. Wisedom is not exclusive to one given area!

Sort of a Staging Repeat

John Mayne & Associates (Coldwell Banker Previews International) — Wed, 05 Sep 2007 08:24:50 -0500

Imagine yourself as the listing agent for a property that's in the name of a trust. The two trustees, while brothers who love each other dearly, of course, have differing views.

To make it even more interesting, my principle client, one of the trustees, is a retired attorney.

We weren't planning to stage the property initially. Then, with the help of my Staging Queen, the brothers were convinced it was a good idea.

Now, the latest is "well, we'll stage it after the first 30 days, it may not be necessary." I immediately told my primary contact about one of the horror shows currently going on within my office: a beautiful home that's been on the market for 150 days, originally listed for $2,285,000. It's now been reduced to $1,685,000, and the updated description is "soon to be staged..."

I'm grateful on two levels. I have a client interested in the house now that it's been reduced, and I'm showing it later today. I'm also grateful because I HOPE it will give me a good example to use to, once again, convince my sellers that first impressions count!

For the ultimate in service in So Cal Staging, call Diane Concialdi. She is the epitome of a professional... she stages, she coordinates, she holds hands and she placates. I can't say enough about her services, so I'll leave it with a heartfelt "thank you!"

Manhattan Beach Market Report, August '07 (SFR Only)

John Mayne & Associates (Coldwell Banker Previews International) — Wed, 05 Sep 2007 07:06:33 -0500

This report was compiled at 0500 (PDT) on Sept. 5, 2007. As always, please allow me to be clear, these stats are based on Status dates, not List dates.

Averages for August (8/01/07-8/31/07), 2007:

Average Price: $1,895,016 with a low of $760,000 and a high of $4,175,000

Cost Per Sq Ft: $828.59

Days on Market: 62

Total closed units (SFR Only) 31

By comparison, there were 39 closed sales during the same time frame in 2006. The averages for August '06 are as follows:

Average Price: $1,953,.503 with a low of $869,000 and a high of $4,100,000

Cost Per Sq Ft: $814.51

Days on Market: 66

In addition to this year's closed sales, there are 111 Active listings

Finally, there are eleven homes in escrow, ranging from $699,000 to $4,699,000, $814.99 CPSF, and 29 DOM.

For information regarding condos, townhomes, or, for a market analysis specific to your property, please feel free to contact me today. I'm here to help!

The information presented here is deemed reliable, though not guaranteed.

A Holiday in Hermosa... And Manhattan... And Tulsa... And...

John Mayne & Associates (Coldwell Banker Previews International) — Mon, 03 Sep 2007 06:21:16 -0500

And YES, I'm TAKING IT!

I have sailboats to watch, the circus that is people trying to find a place to park at the beach to observe, (a guaranteed laugh on any holiday), ad copy to write, blogging to do...

Wait a minute.

A day off... and I'm blogging and writing ad copy? Why not go across the street to the beach and ENJOY the day? Ah, I could feel the internal task master writhing in pain just from typing that last sentence!

Well, I have a new listing, we're staging it with the help of Diane Concialdi , painting the interior, etc. So the home will not look the same as it did when I first saw it, and I have to be prepared. After all, it IS a pocket listing, but we want it on the MLS a.s.a.p., and the ad copy must be ready.

As for the blogging... what can I say? After I whip up a smoothie and head for the gym for an hour or so, I'll get back here and there will be two things that grab my attention: the beach, and the box. This box, with the keyboard and other peripherals... why is it so enticing?

I suppose I'll ponder that question as the day and sailboats go by... but I say this to all my fellow Realtors®, Associates, and Active Rain junkies in general: whatever you do today, surf, sail, sell... or keep the remote in hand and be the master of all you survey... have a safe and happy holiday! Enjoy it!

Hermosa Beach August Market Update - SFR Only

John Mayne & Associates (Coldwell Banker Previews International) — Fri, 31 Aug 2007 06:35:16 -0500

Summer is winding down, Labor Day and back to school ads abound. Time to update the Hermosa Beach Market for August, 2007.

Like July, August proved to be an "up" month for Hermosa. But when comparing 2006 to 2007, unlike July, only prices, or, as some would label it, VALUE is up. Speaking in terms of closed units when compared to 2006, August is down by a full fifty percent. This report was compiled at 0400 (PDT) on August 31, and the results are as follows. As always, please allow me to be clear, these stats are based on Status dates, not List dates.

Averages for August (8/01/07-8/31/07), 2007:

Average Price: $2,099,000 with a low of $920,000 and a high of $4,290,000

Cost Per Sq Ft: $1,086.88

Days on Market: 46

Total closed units (SFR Only) Seven

By comparison, there were fourteen closed sales during the same time frame in 2006. The averages for August '06 are as follows:

Average Price: $1,874,714 with a low of $828,000 and a high of $6,000,000

Cost Per Sq Ft: $811.31

Days on Market: 68

Again, as I've been telling my clients, local property values should not be lumped into these generalized reports seen and heard on the network news. While other areas, counties, states, may in fact be experiencing a downward trend, local property values continue to rise.

In addition to this year's closed sales, there are 45 Active listings, ranging from a low of $789,000 to a high of $11,900,000. Averages for the Active listings are $2,255,998, $846.29 per sq. ft., and 130 DOM.

Finally, there are ten homes in escrow, ranging from $599,000 to $10,600.000, and 96 DOM.

For information regarding condos, townhomes, or, for a market analysis specific to your property, please feel free to contact me today. I'm here to help!

The information presented here is deemed reliable, though not guaranteed.

Setting the Stage With Thanks to a True Pro

John Mayne & Associates (Coldwell Banker Previews International) — Mon, 20 Aug 2007 22:21:13 -0500

In this day and age of instant messaging, instant sites, instant loading, instant videos, instant win win win... it's so nice to know that not EVERYONE is running around with a triple vente non fat latte I.V., and having thumb fun texting while they drive from appointment to appointment.

I have an old client (client one, old in that I closed his transaction over 5 years ago), and a new client, (client two 2, his father), both going through a difficult time: client 2 is clearing out his recently passed mother's (client one's grandmother's) house.

I went to take the listing after client one called me about three weeks ago. I knew the house would need to be cleared out, I've been through the same emotionally trying experience. What I wasn't aware of is that, three weeks and as many dumpsters later, we're just now getting to the treasured items the family would like to save.

Enter my angel, my savior, my queen of the 405 freeway - and packing - and organizing - Diane Concialdi, Stager extraordinarie! Unlike other stagers I contacted who, it seemed to me, didn't want to drive more than 30 minutes one way - let alone do it over and over again, Diane was ready and willing; she cheerfully accepted the challenge, and that's what it is!

Granted, we're nowhere near completion, so I can't speak to the final product of her work. But so far, she has not only help sell the idea of staging the home to begin with, but has made several trips - from ORANGE COUNTY to TORRANCE, cheerfully availing herself for what most would consider to be obscure minutia. Things that are well beyond the scope of what one expects of a professional stager.

So, in this, the age of "you spent HOW LONG on the freeway? Darling, PLEASE give me the name of your therapist," please allow me to give credit where credit is due.

Diane has not only put my client at ease with her easy going, no pressure approach, she has already helped make MY job easier by easing the project from the slow lane... gradually merging, and now tooling along in lane # 2.

I'm not sure how well we'll do in terms of time... frankly, I'm not that concerned, except, of course, it's a little late in the season to list. But just by the way she's handled this job so far, I have no doubt that the end result will have us in the diamond lane, scooting by the rest of the inventory and arriving safely - perhaps CLOSE to instantly - in escrow.

To view the property, "West High Pocket Listing," please click here , and to contact Diane for the same outstanding service, click here for her information.

Market and the Media

John Mayne & Associates (Coldwell Banker Previews International) — Mon, 13 Aug 2007 22:06:14 -0500

"The market is great!" "Sure, it's a Seller's market, but the rates are so low!" "Housing bubble? What bubble?" "Where do we sign???"

Sound familiar?

Just a quick note - observation here. So many Agents are now pointing fingers at their lenders, not willing to "take the heat" as it were. The heated wrath these Agents are hearing is coming from past clients who bought property with some of the more exotic products now all over the news. "Liar Loans," and various other names now common in the vernacular of the real estate market.

When Agents were standing in front of a home in the red hot market of less than two years ago, and the inventory was going into escrow almost immediately after posting to the MLS, what were these Agents advising their clients? They were telling their clients what it would take to get the clients into the home they wanted. And if that involved a no-doc loan; interest only; neg-am; "Well... do you want the house? Yes? That's wonderful."

"Do you understand your situation?"

"Oh, sure, we know we can do this, where do we sign?"

Agents are only one part of a three way team. The other two, of course: the Buyer and the lender. To the best of my knowledge, no Agent has ever held a gun to any Buyer's head when it came time to decide. But not educating your client is tantamount to that very act.

The situation of the subprime market is unfortunate, the rise in foreclosures is devastating and tragic. But the fact of the matter is this: less than 15 percent of all mortgages in the United States are subprime. Only the most unscrupulous of lenders, and Agents, are to blame for knowingly putting their clients in harm's way, whether in the subprime market or elsewhere.

Due diligence, full disclosure, words of caution should always be any Agent's code of ethics, the same applies to lenders. We're experiencing a correction, a period of stabilization. And, as I've pointed out in previous posts, some markets are actually on the rise. With the assistance of good teams, Agent/lenders, the market will recover in areas where it is suffering.

Take what you hear or read in the news with a grain of salt, or a substitute if you're on a low-sodium diet. It's not as bad as they would have everyone believe.

Hermosa Beach July Market Update - SFR Only

John Mayne & Associates (Coldwell Banker Previews International) — Sat, 11 Aug 2007 19:41:32 -0500

July proved to be an "up" month for Hermosa, speaking in terms of value and closed units compared to 2006. With nine closed sales of single family homes, status dates July 1 through July 31. Let me be clear, these stats are based on Status dates, not List dates.

Averages for July, 2007:

Average Price: $1,290,611 with a low of $725,000 and a high of $1,950,000

Cost Per Sq Ft: $789.29

Days on Market: 77

By comparison, there were only seven closed sales during the same time frame in 2006. The averages for July '06 are as follows:

Average Price: $1,213,143 with a low of $755,000 and a high of $1,700,000.

Cost Per Sq Ft: $720.57

Days on Market: 24

Obviously the difference is the inventory is taking longer to sell. But, as I've been telling my clients, local property values should not be lumped into these generalized reports seen and heard on the network news. While other areas, counties, states, may in fact be experiencing a downward trend, local property values continue to rise. And frankly, in my own humble opinion, if the local buying market paid less attention to the talking heads, the prolonged days on our local market would almost certainly be closer to last year's average.

In addition to this year's closed sales, there are, as of 8/11/07, 46 Active listings, ranging from a low of $795,000 to a high of $11,900,000. Averages for the Active listings are $2,255,998, $830.14 per sq. ft., and 123 DOM.

Finally, there are ten homes in escrow, ranging from $599,000 to $10,600.000, $1,024.04 PSF, and 80 DOM.

For information regarding condos, townhomes, or, for a market analysis specific to your property, please feel free to contact me today. I'm here to help!

The Joy of Referrals & a Job Well Done

John Mayne & Associates (Coldwell Banker Previews International) — Wed, 01 Aug 2007 13:29:22 -0500

There are so many gratifying aspects of being a real estate professional. I've often said that I get such a sense of fulfillment when I close a transaction for a first time buyer. There's always going to be a certain level of stress, regardless of how many times someone has purchased real estate. A first time buyer, however, can be "highly excitable." That's about the most diplomatic way I can think of putting it.

Rightfully so, I might add. They are, after all, embarking on one of the first major undertakings of their life. It is our job, as professionals, to not only protect our first timers, act in their best interests, negotiate the best obtainable price on their behalf, etc., but we need to be patient and empathize. These people are just that: people. Not just clients, and certainly not representatives of our next paychecks. They're emotions are all over the map, and those of us who are in the business for the long term understand the importance of taking a little extra time, have the willingness to do a little extra hand holding, etc.

By doing so, more likely than not, we are rewarded not only by the sense of accomplishment and gratification I've already mentioned, some day, a year, two, three, even ten years down the road, the phone will ring. On the other end will be a vaguely familiar voice.

This happened to me not once, but twice within the past ten days. Former clients, one was a first timer when I worked with him, called me, asking if I knew of a good lender. He wanted to re-fi the house I sold him. I was happy to give him Scott Messier's contact information, and assured him he'd be working with one of the best in the business. We went on to have a nice chat, catching up, talking about the market, and so on.

Then on the last Monday of July, I received a voicemail from one of my favorite past clients. She was a first timer when we worked together finding the townhouse I sold her in North Redondo. Two years later, in 2004, she called me again, and asked if I could help here sell her home. She'd done quite well; the property had appreciated a little over 100k in the time that she owned it, and she was then planning to move in with a friend.

When I heard her voicemail, I couldn't help but laugh. She took the time and effort to explain to me who she was, when we met, etc. She clearly thought I had forgotten her. By the time we finally contacted each other after several rounds of phone tag, she seemed so grateful that I would take the time to do "all that calling around" to try and reach her. And, yes, of course I was interested in seeing if there's new business, but like with my other former client, sometimes these contacts after close of escrow is just to help get your client in touch with someone in the business who can help them with what they need.

It's called "service!"

My second client, however, was calling to tell me she was moving out of state, and asked if I could help her find an agent in the Tucson area, which I'm now actively doing. I hope to have a list of five interviewed, or "pre-screened" as she put it, for her by close of business today. 8/1/07.

My point is that we, as Realtors®, do much more than "sell." We are here to provide a service. And, if one takes the time to go the extra mile, to not simply separate one's self from the rest of the pack, but elevate yourself by providing superior service, you will build a loyal following. And with that following, comes the responsibility of occasionally doing things without expecting any compensation... what a concept!

Then again, on occasion, you get to refer one of your past clients to another agent, and you will get paid... but you'll be compensated in more ways than one that simply pays the mortgage.

Contractors, Liens, Out of the Area Agents... & a Brother's Wife's 3rd Cousin

John Mayne & Associates (Coldwell Banker Previews International) — Sun, 29 Jul 2007 01:14:24 -0500

I was talking with an old friend of mine today. More of an associate, really, since we've never actually done anything socially. Why that is I'm not quite sure. But, since I've known him for over 20 years, I consider him more of a friend than anything else. Happily, a few years ago the transaction he hired me to represent went well. That said, the experience confirmed what I knew, and usually follow as a rule: mixing business with personal or family can be a volatile combination. Had something gone wrong, the loss of my friend would have been a great one.

Fade back, present day... He was telling me about someone he knew that recently needed work done on their house. Of course, a well meaning friend knew a guy whose reputation preceded him. Repeat after me: "He's good with his hands."

That phrase has set off countless wars, big and small, many fought on the battlefield known as the Courtroom, and has lined the pockets of many an attorney. And when all is spent, said, and done, often there's no easy outcome; no cease fire, no surrender. A truce known as a "lien" is filed with the County Recorder, where it languishes until someone comes to their senses. And if they don't, depending on who wins the battle (judgment... notice I didn't say war!), a homeowner can be looking at the very least a cloud on title of the property, which can affect the homeowner's ability to borrow against, refinance, or sell the property. It can also ultimately lead to Foreclosure, if the homeowner doesn't pay off the lien. And if the judgment is against the contractor? Bring in the reinforcements, and in some cases, the Bloodhounds.

My buddy went on to tell me how during this "craftsman's" performance, he managed to expose some drywall to electrical work he hadn't yet completed. Fortunately, a repeat of the Chicago fire was averted. However, when all was said and done, the well meaning friend who referred the friend to a friend (sensing a pattern here?), and ultimately cost Friend C (see figure A in the enclosed instructions), the homeowner, $32,000.00 in repair work that had to be done all over again.

Everyone knows a guy who owns a tool-belt. Just like (it seems!) everyone knows a Realtor®.

When repairing or remodeling your home, do your diligence, check with the state licensing agency, as well as the BBB to see if there are any complaints against the contracting company (an additional caveat: the primary contractor will often sub-contract, so be thorough in your background checks!). The same applies when hiring an Agent (the DRE keeps track of Agents and disciplinary actions or pending complaints).

How I laugh as I also shake my head in anticipation when I see a for sale sign go up in front of a local house, and the Agent has an area code indicating his or her office is 30, 40, 50 miles or more away! Sure, it's understandable... your sister's daughter just got her license and needs to get some experience. But that's like hiring a plumber to recover data on your hard drive! It's out of her area of expertise! It applies to seasoned agents as well, unless they like to travel and have at least 5 to 10 recent, local sales.

A tip: if you need to sell your home and have a family member who is a licensee, unless your relative is a local agent with some experience, one you feel certain you'll be able to go through what can be a stressful process with, tell your family member he or she will get paid - by referral. Hire a local agent, and have the agent agree to pay your friend or family member a referral fee. Your agent does all the work, and, yes, will make more, but all your friend or cousin, sister, whatever, has to do is sit back and wait for a check. And if, heaven forbid, something should go wrong during escrow, you're still on speaking terms with your friend or loved one. Same thing with a Buyer's agent. Asking your top producing pal whose office is in e.g. Valencia to come to the South Bay (roughly 45 miles) and expect him to represent you as well as a local agent will is not realistic. Set up a referral. More than likely, everyone concerned will be happy that you did.

Remember, there are many other seller tips and buyers tips on my primary site. If your question isn't covered, please feel free to contact me.

Finally, a quick thank you to David G., today's muse!

Ask Your Agent for Sample Documents

John Mayne & Associates (Coldwell Banker Previews International) — Fri, 27 Jul 2007 20:34:26 -0500

It's no secret, the market is not moving at the breakneck pace it has been for the past several years. The days of writing offers on the hood of my car are (for now) a fond memory.

Can you imagine a first time buyer, or any buyer for that matter, having the eight page purchase agreement, and all the disclosures that go along with it, handed to them with their agent standing there saying "You have to sign here, here, initial there, there, and there... you missed one..." five minutes after showing a property? No wonder so many people don't trust us!

That was the standard procedure when showing a hot new listing in a seller's market. And while always acting with their best interests in mind, of course I was nervous as I stood there, looking my clients in the eye and saying "if you don't write an offer now, the likelihood of this property still being available after you've thought about it are virtually non-existent."

That's when I learned something I incorporated into my routine when working with buyers. In fact, I did it just yesterday while I was talking to the clients I'll be with this weekend.

I eased into the conversation the following: "Look, Mrs. Buyer, I realize this isn't your first purchase, but its been six years since your last, and things have changed. If we find something you really like and want to make an offer, I don't want you and your husband to be caught off guard. Would it be all right if I sent you a sample copy of the Residential Purchase Agreement and all the disclosures that you'll need to sign? There's no obligation, I just want you to be comfortable and knowledgeable with the updated documents."

Without any hesitation, she thanked me for being so thoughtful, and even gave me her husband's email address, a closely guarded secret until that point, so I could cc him.

We provide a service. Be creative, be thorough, be thoughtful. Taking an extra step or two can be the first couple of steps in establishing an immeasurable level of trust.