Scott's Blog

SAN JACINTO REO REPORT ;THIS CALIFORNIA HOME COMPS OUT AT $139,000=WOW

Scott Barr Realtor soldbybarr.com Canyon Lake Luxury Homes (Keller Williams) — Thu, 09 Jul 2009 16:37:30 -0500

Located at the base of the San Jacinto Mountains range, you'll love the views of purple

mountains majesty every morning. Let me say no

more and see for yourself.

Murietta's REO Report

Scott Barr Realtor soldbybarr.com Canyon Lake Luxury Homes (Keller Williams) — Thu, 07 May 2009 20:20:20 -0500

I want to make it official.....I Scott Barr declare that Riverside county in California has reached the

bottom of the market for housing. At least that's what I told some friends at a dinner party back in April.

At first I made a blanket statement that we will look back a year from now and see that April was the

bottom of the real estate market in our area. Then it occurred to me that I was standing in the kitchen of

a home located in San Diego county.Ooops...wrong county. (I think San Diego and Orange county have a

little more deflating to take place.)I quickly clarified myself and stated that I

meant the county that I primarily work in Riverside. The color returned to my friends faces and I averted

a public stoning for prophesying incorrectly.

I came to this conclusion after being beat out by other offers that were a little higher than my clients.

Keep in mind that we are sometimes bidding $20,000 or more per offering. It's happened with five

different sets of buyers. The same thing seems to be occurring with other agents.

This type of thing is prevalent in the Menifee,Murrieta, Temecula and even San Jancinto, Hemet area's.

I make this "prediction" realizing that if I'm wrong, cyber space will forever have record of my insight.

Murrieta's REO Report-(NOW IS THE TIME TO BUY 4/1/09)

Scott Barr Realtor soldbybarr.com Canyon Lake Luxury Homes (Keller Williams) — Thu, 02 Apr 2009 00:02:02 -0500

This 3,972 sq ft 5 bed room 3 bath home can be yours for under $300,000. Located in Menifee

California this should be plenty of room for grandma and the kids.

Not convinced that now is the time to buy then check out this mini-mansion located in Southern

California. I must warn you that this listing will have many offers by the time you read this article. Which

brings up a number of issue's concerning this red hot market we are in.

•1. Any property that is properly priced will sell within 14 days.

•2. If you find something really, really nice bid higher than the asking price if you really, really want that particular property.

•3. Be ready to be pre-approved by the bank who is selling the property.

This may sound too aggressive for some you and for others, your nodding your heads in agreement with

me. Let me guess, you're getting tired of driving around with your hard working agent who is afraid to tell

you what you don't want to hear. Change agents or follow my advice and give your favorite agent a

freebie. They are probably very nice and could use the business. If your agent is not following my buying

strategy, then they are doing what we call "selling scared". They figure if they tell you the truth then they

will loose you. If you don't follow the above suggestions look at what you will be missing 4.5 years from

now when we all will be saying I wish I would of...... WWW.SOLDBYBARR.COM

Idyllwild REO report

Scott Barr Realtor soldbybarr.com Canyon Lake Luxury Homes (Keller Williams) — Sat, 03 Jan 2009 23:48:57 -0600

Only the Garden of Eden could be more beautiful than the mountains of Idyllwild California. Gold can still be found in them thar hills maybe not the kind that you spend, but certainly the kinds that make you feel rich. The sights are magnificent this time of year.

Even the bears can't resist taking in all the beauty Idyllwild has to offer.

The people that live here get to take in this beauty every day. Wouldn't it be nice to call this home?

Many artists do call this home. This artists' web-site is easy to find.

At 6000 ft you'll feel like you are on top of the world.

If you or someone you know has a desire to view propertys in Idyllwild please feel free to call 909-261-2497 or visit www.soldbybarr.com.

Murrieta's REO Report

Scott Barr Realtor soldbybarr.com Canyon Lake Luxury Homes (Keller Williams) — Mon, 29 Dec 2008 14:09:24 -0600

Anatomy of a sale (in today's market)

What is a sane approach to the buying process in Southern California?

First, let's look at what is happening in our real estate market. We have primarily two types of sales taking place bank owned and short sales. Bank ownedor other wise known as REO property is just that the bank now owns the house. These are the new normal transactions in Riverside county California.

As a buyers agent I'm always relived when my client wants to view a bank owned home. Typically these negotiations are handled like they were back in 05'. What is interesting is the fact that there is usually an offer already on the table which is very good for the seller (bank). How do we do we handle the competition? We put forth our best offer and we move on and don't look back if we get beat out. After all, there are more properties than there are buyers. I remember the shift in our market that took place in the middle part of 07'. We started to see multiple offers again. This was the new sellers market.

Now for the big butt but, but what about short sales, don't they take a lot of time? Yes they do. Short sales typically take longer than REOs (bank owned) properties. Sooo here is how we handle them:

•1. I tell me my clients what to expect on the front end so they are not as disheartened if they should not succeed in acquiring the property.

•2. My approach is to find at least three properties that my clients positively love. (this is possible here in Southern California)

•3. I inquire via the listing agent as to the status of the short sale. I ask questions such as: how long has the property been in default, how many mortgages are on the property, are the current owners occupying the property?

Keep in mind that just because there is a short sale going on doesn't mean that the home owner has lost any rights. The only thing that they are not in control of is what price the holder of the note will settle for.

CANYON LAKE REO REPORT

Scott Barr Realtor soldbybarr.com Canyon Lake Luxury Homes (Keller Williams) — Tue, 23 Dec 2008 12:52:16 -0600

CANYON LAKE

How does an old fashion Christmas sound? That's

exactly what we had this past Saturday. First, we

got a bird's eye view of the Canyon Lake's Christmas

boat parade. Then we Christmas caroled into the

night followed by some delicious treats for all. We

ended the night

with a "white

elephant" gift

exchange

that was made up

of items only found

at home.

Earl and Marina Rideau really know how to bring

Christmas cheer to friends and family alike. About

thirty of us got together for refreshments and

fellowship. Part of the entertainment was Canyon Lake's

Christmas Parade of boats. Twenty or so boats made

the annual trek around the lake to the cheers of

bye-standers.

After dinner we harmonized around the fire with

some traditional carols. Marina led us with her newly

acquired organ abilities. Don't tell Marina, this was my

favorite part of the evening. (I don't want her to get

too big of a head.)

The gift exchanged was enjoyed by both the young

and the even younger.

I think I speak for everyone attending when I say, a better time was never had.

Hemet REO Report

Scott Barr Realtor soldbybarr.com Canyon Lake Luxury Homes (Keller Williams) — Wed, 17 Dec 2008 06:55:41 -0600

I got a call from a friend, who belongs to the local jeep club, and he asked if I wanted to go on a "snow run." My thoughts immediately went back to a childhood spent frolicking around in the elements until I couldn't feel my toes. Then I realized that I wasn't in Ohio anymore but rather we were in Southern California. Therefore he must be talking about going to the Idyllwild-Pine Cove area via the fire trails. We had made a similar trek earlier in the summer minus the snow. I figured this would be a little more exciting and decided to go despite my aversion to cold whether.

Besides, his 5yr old daughter was going and I wasn't going to get shown up by a 5yr old.

At 5:00 pm, accompanied by six other jeep enthusiasts, off we went on our journey.

We didn't see snow until we hit the 5,000 foot mark. The skies were grey and the snow was abundant. In fact, we didn't realize how much snow was falling until we looked at our digital cameras after snapping a couple of shots.

After a couple of hours of caravanning through the Mountains, we discovered a new favorite Mexican restaurant. Only in Southern California will you find a Mexican restaurant sitting on top of a Mountain. To think all of this fun is in our own back yard!

Tis the season.........

Scott Barr Realtor soldbybarr.com Canyon Lake Luxury Homes (Keller Williams) — Fri, 05 Dec 2008 19:54:49 -0600

Tis the season to be.... Grateful. I know Thanks

Giving has past, but I'm very grateful for

another sale. The best part is that it has been

a smooth transaction to this point. It is in a

mobile home park and once again the

commission is not that much but everything

helps.It seems that I have found a little market within a market. The first unit I

listed and sold took a little longer than this

second one. But I learned a valuable lesson in both, that is if you price the property right it will sell. On

the surface it didn't look like anyone new was interested in buying there. There were a lot of listings that

were over a year old. The reason: priced out of the market. Because this is a 55+ community most folks

don't have to sell. But just as soon as a unit comes on the market that is priced right it, gets snatched up faster then a salmon fish swimming past a hungry bear.

It also helps that the park is beautiful and is located in Southern California. When you see the park I think you'll feel my joy and also my regret of not having yet another listing in there.

Tis the season.........

Scott Barr Realtor soldbybarr.com Canyon Lake Luxury Homes (Keller Williams) — Fri, 05 Dec 2008 07:15:39 -0600

Tis the season to be.... Grateful. I know Thanks

Giving has past, but I'm very grateful for

another sale. The best part is that it has been

a smooth transaction to this point. It is in a

mobile home park and once again the

commission is not that much but everything

helps.It seems that I have found a little market within a market. The first unit I

listed and sold took a little longer than this

second one. But I learned a valuable lesson in both, that is if you price the property right it will sell. On

the surface it didn't look like anyone new was interested in buying there. There were a lot of listings that

were over a year old. The reason: priced out of the market. Because this is a 55+ community most folks

don't have to sell. But just as soon as a unit comes on the market that is priced right it, gets snatched up faster then a salmon fish swimming past a hungry bear.

It also helps that the park is beautiful and is located in Southern California. When you see the park I think you'll feel my joy and also my regret of not having yet another listing in there.

ALL OF THIS IN OUR OWN BACK YARD

Scott Barr Realtor soldbybarr.com Canyon Lake Luxury Homes (Keller Williams) — Sun, 09 Nov 2008 14:57:00 -0600

Yes, Hemet is a little sleepy town compared to San Diego, Orange

county and La. And yet, there are many treasures surrounding it

within a quater tank of gas. If you like fresh air and beautiful views of

vistas ,then Oak Glen, located just 15 miles from the Hemet/San Jacinto

valley, is the perfect choice. My wife and I and 3 of our 4 daughters

spent yesterday afternoon

hiking, munching on

raspberries and Carmel apples at

one of our favorite apple farms,

Riley's Apple Farm. (Our

forth daughter is currently

attending a private Christian college located on the Pacific ocean,

poor thing!) The weather was fantastic and the place was filled with fun activity.

One of the best parts of this trip is the hike into the mountains. The views are breath taking

as you can see. Its a great opportunity to stop and smell the roses.

Another favorite activity is sampling the apple cider and all the

different varieties of apples. They also had apple butter,

Jalapeno jelly and many other interesting jams

and spreads. If you are ever in the area make sure you make this

trek to this small mountain community; you'll be glad you did.

To get to Glen Oak from Hemet take Sanderson straight up to Beaumont Rd

continue

until

you get

to Riley's apple farm. (Please

note that Sanderson turns into Beaumont

Rd) it is that

easy.

Feel free to e-mail if you have any

questions. http://www.soldbybarr.com/

Another referral

Scott Barr Realtor soldbybarr.com Canyon Lake Luxury Homes (Keller Williams) — Wed, 05 Nov 2008 22:02:17 -0600

The strangest thing happened to me today, I got another referral for a mobile home listing. The

first one I got 45 days ago sold in less

than 30 days. So I guess this means I'm

the mobile home guy. Please don't feel

sorry for me, it's not as bad as it seems.

You see, in my neck of the woods there

are many seniors who prefer to live in a

park and pay cash. This means a much

shorter escrow and less hassles. On the other hand we're not talking about a huge commission check.

But, a little bit of something is better than nothing. It will be interesting to me to see where this run

on mobile homes takes me. The picture has nothing to do with mobile homes, I just love seeing those

mountains in the back ground.

San Jacinto reo report

Scott Barr Realtor soldbybarr.com Canyon Lake Luxury Homes (Keller Williams) — Tue, 04 Nov 2008 15:32:25 -0600

In soccer we have a saying "it's

always fun when you win." When you

win it doesn't matter how bad the

referreeing was or how many fouls

the other team committed. In fact, you

start thinking that maybe Hitler was

not such a bad guy after all. Well, I

wouldn't take it that far but I think

you get my meaning. The same

thing happens in real estate. When a

home finally does sell, all is well with

the planet especially in today's market. A lot of buyers are still on the fence wondering how much lower

prices can go. Sooo a victory is a victory and I savor all of them just the same.In this case there were at

least three winners: the sellers, the buyers, and the selling agent. It felt so good to put up

my sold sign. I can't wait to do it again and again.

ANZA REO REPORT

Scott Barr Realtor soldbybarr.com Canyon Lake Luxury Homes (Keller Williams) — Mon, 03 Nov 2008 12:33:32 -0600

Recently my youngest daughter and I had the privilege to attend the Redshank Rider's annual Turkey

Treasure Hunt. Although we don't own a horse yet, we thought

it to be a good excuse to eat lunch in Anza,

California. What does this have to do with real estate you

might ask? Well,it has everything to do with

real estate. You see some of the prettiest country sits up in

this arid

mountain community. Fresh air and beautiful mountain tops are a couple of reasons why it's worth the trip.

The Redshank riders are a group of horsemen (and women) who are dedicated to keeping the riding

trails of Southern California in the same shape that God

intended them to be in. This is no small task considering how

many miles of trails we have in this region

of the country. You can learn more about this club by clicking on

the link below http://www.redshankriders.com/index.html .

The treasure hunt on horse back was designed to test

even the most able of riders. The average time to complete the journey took 3hrs. This makes the

winning time of 1hr.46min. quite a feet in its self. The winning team gave credit to the younger ones for

their eagle eyes which aided in locating the treasures in

record time.

The raffle had many useful prizes that included a hand

made purse, saddle bags, paintings, gift

certificates at one of the local Veterinarian clinics and these

man sized boots.

All this was capped off with a home cooked turkey

and ham dinner. Complete with baroque beef and all the

fixings. There were lots

of smiles on this breezy

autumn day and why not,

there was plenty of good food and good people to go around. Also,

with so many prizes to hand out nearly everyone felt like a winner. If

you are a horse lover or just need to get out in the great outdoors consider rounding up with this fine

group of folks.

Affordable California Living

Scott Barr Realtor soldbybarr.com Canyon Lake Luxury Homes (Keller Williams) — Sat, 11 Oct 2008 02:51:47 -0500

This 3/2 home located in the bedroom community of Hemet Ca.

comes complete with a built in swimming pool and fully hard-scaped

back yard for easy maintance. It is currently being offered at

$124,900. Contact has been made with the bank and we are just

waiting for an offer to finish the package for a successful short sale.

There are two schools near by making this an easy

choice for your young family or helping find long term renters. The neighborhood shows very well and is

also located near convenient shopping. The shopping includes one Southern California's favorite markets

Henrys. If you're looking for an affordable way to own a pool home, this could be

it.http://www.soldbybarr.com/ click on my web site for easy access to the local MLS.

Murrieta's REO Report :The Anatomy of a Short Sale part 3

Scott Barr Realtor soldbybarr.com Canyon Lake Luxury Homes (Keller Williams) — Fri, 03 Oct 2008 18:20:18 -0500

- Oh no, we received an offer, now what? I can remember not too, too long along when I received my first offer on my first listing. Oh no, we received an offer, now what?
Call the bank and inform them that you are trying to sell your client's house and that the market value is less than what is owed therefore it is being sold short of what is owed. (Please note that this is not intended to be used as a script but only as a guide.) Ideally the conversation should be an informational session. Basically, the bank rep will have a scripted response, which if you listen carefully, will impart to you what you’ll need to provide the bank to obtain the coveted answer. Here are some of the items they may want:
- - 1.)Two months in a row bank statements. 2.)W-2 statements. (Profit and loss statement if they were self-employed.) 3.)Authorization form.(signed by your seller) 4.)Hud-1. (You can get this from your favorite escrow officer.) 5.)Contract. (As in you have obtained an offer from a ready and willing buyer. If you have no offer, you don’t get to do any of the above.) 6.)Pre-approval letter from buyer. 7.)Listing agreement. These are just some of the things banks may want in the beginning stages of the short sale process. The requested items may vary from bank to bank and from state to state. Check with your local Board of Realtors to make sure you have all the proper state forms. Some helpful tips: Be sure to get the needed fax numbers. Also they may have a direct line other than the number you called. Find out and make note of the new number. The next Anatomy of a short sale will cover what happens after we put the package together.

To contact me go to:http://www.soldbybarr.com

"Information Please...Please..."

Scott Barr Realtor soldbybarr.com Canyon Lake Luxury Homes (Keller Williams) — Mon, 29 Sep 2008 11:29:42 -0500

Lets face it we live in the information predicted along time ago. As soon as someone figures something out its "posted" on the world wide web and if we are not careful we might just learn something new. So some new information that I learned yesterday was that short sales will be eliminated as a result of the bail-out. It'll be interesting to follow this possibility and see what happens. From the other posts on Activerain and other sources fellow agents make a good case for this to take place. The premise for the end of short sales is that banks will be motivated to modify folks loans who have run into tough times. In 06" my colleagues and I were asking ourselves why more banks were not doing this. I guess now they will have the motivation to start to work out some of these troubled loans.

Seasons change and so must we

Scott Barr Realtor soldbybarr.com Canyon Lake Luxury Homes (Keller Williams) — Thu, 25 Sep 2008 09:59:20 -0500

As the song goes "seasons change and so did I you need not wonder why". I've been doing some soul searching and making mental lists of all the new things that are part of my way of doing business. Blogging has been the most rewarding so far. Not only do I have a blog to send people to but I sit on top of almost any information that I might need to be a better real estate professional. What if I wasn't open minded to new ideas of marketing my services? What if I was too proud to listen and act upon advise from people who know what they are talking about? ect.. Change is inevitable. In fact the only thing for sure is change. Not new thoughts but they are so true in this current market we are in. I was going use the Byrds "for every season turn, turn.." but I'll leave for another post.

"Give til it hurts"

Scott Barr Realtor soldbybarr.com Canyon Lake Luxury Homes (Keller Williams) — Tue, 23 Sep 2008 14:55:53 -0500

Where were you when you first heard this expression? I was somewhere on the planet probably at a sales meeting of some sort. Some one was "sharing" a story they heard about a guy who had a habit of paying for the person behind him while standing in line at a store. This reminds me of the saying "do unto others". This is something that is difficult to do when times are shifting but I think its more important now then ever to do so. So then how do we get ourselvess in the right frame of mind to "pay it forward"? First we must be committed to the certitude that this is a truism. Second we must take action and do it. This isn't something to only speculate about but rather this is also a call to action. Thirdly we must be consistent with it. We can't expect to get results from a few feeble attempts.

SHORT SALES REMINDER

Scott Barr Realtor soldbybarr.com Canyon Lake Luxury Homes (Keller Williams) — Tue, 23 Sep 2008 14:22:36 -0500

Do these two images go together when you think of short sales? I have found that being "nice" to the person on the other end of the phone, who is there to help, makes things move more expeditiously. After all isn't that what we all want a speedy operation? And I think operation is a good way to describe the process we all have to go through in order to get these deals done. I have found that being humble but firm is the best emotional state to be in when pursuing a short sale. Something as simple as being polite can make things go smoother on a other wise rocky road.

TEMECULA'S REO REPORT

Scott Barr Realtor soldbybarr.com Canyon Lake Luxury Homes (Keller Williams) — Mon, 22 Sep 2008 12:32:50 -0500

With banks heading to the hills or where ever they go when they shut down, the time to have access to a reliable lender has intensified. A reliable lender can be designated by their aptness at adjusting to shifting markets. Please note that I'm not a lender but its no secret that we agents can't perform our jobs effectively without the support of the financial institutions. So a good agent will have access to good lenders. We shouldn't take these people for granted.

MURRIETA'S REO REPORT

Scott Barr Realtor soldbybarr.com Canyon Lake Luxury Homes (Keller Williams) — Mon, 22 Sep 2008 12:01:59 -0500

All the houses I looked at for my clients back in June have all been sold. They were are all banked owned properties and all located within two blocks of each other. There are only two properties on the market in this particular area of Murrieta. Neither were there at the time of my sell. My advise is still the same if you find the property you like and can afford it buy it because it will not last. Something else to keep in mind is that it is more important then ever to have a buyers agent who knows how to get the job done.

Where do we go from here?

Scott Barr Realtor soldbybarr.com Canyon Lake Luxury Homes (Keller Williams) — Fri, 22 Aug 2008 14:24:51 -0500

The numbers don't lie sales are up for two months in a row compared to last year in my area. So my question is where do we go from here? Sales seem to be breaking out every where and sometimes I'm there when it happens. Will prices continue to increase? Will interest rates keep settling at a higher percentage? Can both things keep on happening at the same time? I know the answer to that one is no. But what about prices? I have buyers that are waiting for prices to go lower. In my area this does not seem likely. Primarily because we have experienced a 50%+ drop already since '05. Their thinking is to wait and buy around Christmas time when we all know selling real estate can be a challenge. It would be interesting if the powers to be could figure out a way to drop interest rates so that we could recover some of the equity in our homes and keep this momentum going.

Murrieta's REO Report

Scott Barr Realtor soldbybarr.com Canyon Lake Luxury Homes (Keller Williams) — Thu, 21 Aug 2008 12:45:00 -0500

Do you remember that old saying? "If you come to a fork in the road, take it.

Now I know what they meant by it. There are so many choices in the market place that its hard to pick the right one. This process is helped by the fact that banks are receiving multiple offers but it is still a struggle for some folks to choose. Of course I'm talking about the current real estate market here in Southern California. I have clients who are finding three and four properties that they could easily live with. Patients on my part is paying off. By not rushing people to make a decision when they are not ready I will continue to have a happy clientele base. It can be very over whelming to choose a house in today's market. You can see for yourself www.soldbybarr.com

THINGS THAT STILL REMAIN

Scott Barr Realtor soldbybarr.com Canyon Lake Luxury Homes (Keller Williams) — Mon, 18 Aug 2008 22:11:09 -0500

No this is not me surfing but maybe one day you never know. I was just thinking about all the things that there are to do in Southern California. Surfing is just one of the many ways one can enjoy

themselves here. There are also the mountain ranges that surround our In Land Empire as it is called in my neck of woods. Big bear, Arrow Head,there's even a Mt Baldy nearby. I guess they ran out of names when it came to the latter one. Anyhow, there is much to do here. Yes we are having a real "real estate" crisis and yes it will continue this way for a year or two but don't feel too sorry for us. We live in area of the country where in the same day we can surf in the Pacific Ocean in the morning and then walk under gigantic pine trees 6,000 feet + above sea level in evening. All this can be done on one tank of gas. I know we did it again this weekend. My daughters spent the summer working at a camp in Iddlywild another mountain range that I failed to mention. All the girls were back except one was still working at the camp. After surfing all day we went "up the hill "as we call it to bring her home. When we were waiting for the endless goodbyes to end I thought about how great it was to smell the pine trees and see all of stars at night. Yes we in the real estate field are struggling in some way or to some degree but I have learned through these last couple years that there is always something to be grateful for. For one I realized how blessed Iam to be living here. Some times its easy to take what we have for gran it and not appreciate the good things that remain. In these tight times I think I'm going to focus on the good that still remains.

No, this is not Mt. Baldy it is yours truly surfing.

Where is Hemet California?

Scott Barr Realtor soldbybarr.com Canyon Lake Luxury Homes (Keller Williams) — Mon, 18 Aug 2008 19:20:46 -0500

You should see the house that comes with this pool. Well, let me show you the inside.

I got a better idea go to www.40375pageantplace.com to take the grand tour if you like.

If you or someone you know finds themselves in need of a perfectly kept home located in Hemet, Ca contact me at 909-261-2497 or e-mail at scttedward@yahoo.comThis home is also featured on the following site www.soldbybarr.com