Calabasas & San Fernando Valley California Real Estate Climate

I'm Looking For a Steal in The Oaks of Calabasas

Tracey Thomas Calabasas, CA Real Estate (Keller Williams Realty) — Thu, 05 Nov 2009 19:18:02 -0600

"I'm looking for a steal in The Oaks of Calabasas". At least once a week I get a call or email from a buyer hoping they can steal one of these McMansions for a song. Yes, yes, there are great deals, but no you're not going to get one of these houses for under a million dollars. So here are the foreclosure facts for The Oaks of Calabasas.

More than 10% of the distressed properties in Calabasas are located in the The Oaks. According to Dataquick there are 205 properties in Calabasas, CA that have a Notice of Default filed, Notice of Trustee Sale, or are Bank Owned as of today. Of these properties, a whopping 28 (13%) are located in The Oaks. Not surprisingly most of these homes were built in 2006 and 2007. Chase seems to be the big loser here holding 10 (36%) of these super jumbo mortgages.

In reviewing the histories of these homes it doesn't take a rocket scientist to see that there was trouble in paradise long before real estate prices started to decline. All of these homes but two have a first and second mortgage and some even a third. Most of them have been refinanced several times in their three short years increasing the balance each time. Some of them have mortgages totaling 178% of their estimated current value according to Dataquick.

Not all of these distressed properties are listed for sale...yet. In fact of these 28 in The Oaks of Calabasas, only 8 are are currently listed on MLS. Many of these homeowners manage to refinance yet again or liquidate other assets to hang on yet another few months. But deals exist for savvy buyers if you're willing to wait long enough for a short sale to be approved or be aggressive enough to have your REO offer accepted.

If you'd like more information on Short Sale and Bank Owned properties in The Oaks of Calabasas call of email me for a list that is updated daily.

Calabasas Real Estate Median Price Down Only 10%

Tracey Thomas Calabasas, CA Real Estate (Keller Williams Realty) — Sun, 08 Feb 2009 19:16:04 -0600

Compared to the surrounding areas, Calabasas Real Estate has survived quite well. Although there have been some monthly variances, overall the median home price has decreased only 10% from January 2007 to January 2009. Our neighbors right next door in Agoura haven't been so lucky. They have experienced a 22% drop in the median price while Woodland Hills (South of the boulevard, 91364) home prices dropped 37% since January 2007.

The excellent Las Virgenes School district plus the low percentage of foreclosures in Calabasas has helped Calabasas homeowners to hold on to their equity.

To get monthly Calabasas Real Estate reports sent to you please call me at (818) 652-2937 or email me at tracey@traceyrealtor.com.

Amazing Views from this Executive Calabasas California Home

Tracey Thomas Calabasas, CA Real Estate (Keller Williams Realty) — Wed, 20 Aug 2008 13:42:43 -0500

Calabasas Executive Home with Stunning Views

24819 Earls Court, Calabasas, CA 91302 View Map

Spectacular Stokes Canyon executive home with breathtaking views. This upgraded home has Venetian plaster and extensive custom faux finishes and murals. The huge kitchen has a large center island, butlers pantry, wine storage and cabinets galore. All this plus a sunny breakfast room overlooks the tropical back yard and pool. The cozy family room with fireplace, open floor plan and huge flat grassy yard make this home perfect for entertaining Enjoy the city lights and mountain views from the romantic gazebo.

Details

Asking Price:

$1,799,000

MLS:

F1776488

Sq. Feet:

4857

Lot Size:

17,084

Bedrooms:

Bathrooms:

# of Floors:

HOA/Maintenance Fees:

200

Garage Size:

Subdivision:

Stokes Canyon (Calabasas Park)

Year Built:

1994

Contact Info

Tracey Thomas
GRI, SRES

Main 818.224.2403
Dir 818.652.2937
Email | Website

The Bait and Switch is Alive and Well in Calabasas Real Estate Lending

Tracey Thomas Calabasas, CA Real Estate (Keller Williams Realty) — Fri, 25 Apr 2008 02:00:03 -0500

Lately, it's been a little more difficult to keep transactions together. If it's not a low appraisal, then it's a problem with a property inspection. But we've learned how to nip those problems in the bud. My biggest issue recently has been clients who decide to secure their own mortgage financing and find some unknown mortgage broker or worse an online mortgage.

I always say, actually I plead, that my clients use a mortgage company that I know and trust. My famous last words are "if it sounds too good to be true, then it most definitely is, especially when it comes to your mortgage financing". Unfortunately, I've had some buyer's who were lured by unusually low rates lately and boy oh boy has it been a ride trying to get funding.

One of my clients recently purchased a Calabasas REO. It's was a fantastic price and the property was in excellent condition. She was putting down more than 30%, had Fico scores close to 790 and was full income, full asset check. She could have probably obtained a mortgage from anywhere. She insisted on using a mortgage broker that I didn't know because the rate and closing costs were less. I explained that the costs one by one and told her that the mortgage broker that she chose was probably not disclosing something. My client insisted on the unknown broker. She locked her rate, and of course had no problem getting an approval. When it was time to close there were problems with the title. Then we find out that her rate was going to expire before the actual closing date in the contract. We couldn't close early because of the title issues.

Of course the rates had gone up and there was no way her mortgage broker would budge on the rate or a rate lock extension. After several (more than several) phone calls to the mortgage broker, the mortgage brokerage management, the title company, the escrow company and the listing agent, plus many tears shed by my client, we got the issue resolved with the title. We were able to get a rate lock extension for two days, but it was like pulling teeth.

In the end it all turned out OK, but it could have been very bad if the title issue had taken any more time to resolve.

The next situation happened to a couple that purchased a gorgeous, almost new Calabasas view home. They had their own out of state mortgage person who was promising to give them a 90%, stated income, jumbo loan at a fixed rate. When I heard this I became alarmed and called the out of state mortgage broker. He wasn't the nicest mortgage person that I ever spoke with but he assured me that he had this mortgage product and my clients qualified with their stellar credit history. Again, I begged my clients to put in an application with a local lender that I trust. They felt that their mortgage person was the best. Every other mortgage broker they spoke with (including mine) told them that they'd have to put down 20% to go stated income. I gritted my teeth and went through the motions. I had my mortgage person on stand by.

When my clients got to the closing table, they noticed that there were two sets of loan docs. An 80% first at the agreed rate and term AND a 10% hard money second due in six months. My client got up and walked away from the table. They frantically shopped for a mortgage while I begged the listing agent for an extension. Panic sets in as my client realizes that his down payment is at stake. After calling everyone we know, he realizes he cannot secure a 90% financing, stated income, jumbo loan. He ended up signing the loan documents with a verbal agreement that he can extend the hard money second for more than six months. Yikes!

And story three is still in the process. I have a great young couple who purchased an amazing pool home with a view. They have perfect credit, more than 30% down and need a full income check jumbo loan. Again, I urged them to use a lender that I trust, but they found a better deal online. I'm very skittish because of these other two transactions so I have advised them to put in an application with my lender also. They have agreed to do this and hopefully we won't need to use this back up, but my guess is we will. The rate lock that they received just seems way too good to be true.

Normally, my client's use a lender that I suggest and trust and we never have lender based problems. It seems that the more business that I get from blogging, the more my clients want to use an online resource for lending. Since they have chosen me from reading my blog, you'd think that they'd choose a lender from a blog, or better yet, trust me to recommend a lender that will actually deliver what is promised.

Price is not the only reason to choose a mortgage lender. High credit scores and great income, don't guarantee that the lender will be fair and honest. It seems that the bait and switch is alive and well in the A+ credit crowd.

I've Learned More From You Than You'll Ever Learn From Me

Tracey Thomas Calabasas, CA Real Estate (Keller Williams Realty) — Sun, 06 Apr 2008 21:24:58 -0500

I have to give you a little background so you'll understand my comments on this video. I have mentored Todd Coleman since December 2007. It has been a rocky road to say the least. During my career I've had the opportunity to mentor many different agents, some have made it, some haven't, but most of them have been pretty compliant. Not Todd, no matter what we discussed or what I told him to do, he's had a comment, a different method, or a zillion questions on why I was doing it "that way". Often times, I wondered why I was mentoring him in the first place, since he had his own ideas about how things should be done. At one point, I became so frustrated that I changed my cell phone ring tone for him to Gnarls Barkley's song Crazy. But there is always hope with persistence. The short story is, somewhere half way into the second transaction together we came to an understanding, maybe we wouldn't be friends in real life, but we could certainly work with each other.

So I read about the video contest on Activerain and emailed Todd a copy of Bob Stewart's blog announcing the contest and the prize, a trip to New York to join in Seth Godin's educational event. Since Todd has a film background, I asked if he could help me make a really great video. Now I've been making videos for real estate for a few years so I got busy planning. Right about this time my Mac G5 dies. I use Final Cut Pro to edit video (which only runs on a Mac), so I let the video contest drift in to the background while I got busy with work.

Then my phone rings the other day, and it's the "Crazy" ring tone. It's Todd saying that he filmed some videos for the contest and he doesn't know how to upload them or how to get them on Activerain. I'm thinking to myself, "while I'm lugging the G5 to the Genius Bar, this guy is making videos." OK, so no problem, I tell him to send me the videos and I'll upload them to Birghtcove and send him the code for Activerain.

So he emails me the first video and I push back in my chair thinking "this is gonna be good" (rolling my eyes). Well I was blown away. This guy put together some of the most amazing real estate videos that I've ever seen. They are everything that a real estate video blog should be. They are transparent, and edgy and provocative with no cheese factor. He shoots them in one take (no edits) which makes them "not perfect" and real. There is no background music, few graphics, no special effects, just real live Todd talking just like he does in real life. It's entertaining, it's informative and it draws you in. It creates trust, the audience can relate, they can relate to his flaws. It's actually brilliant.

Marc Davidson of 100Wattblog wrote a blog called Real Estate's Demons. He explains that real estate agents are one of the least trusted professionals (only 7% of consumers trust us completely according to the Harris poll). Marc wrote a list of what untrustworthy agents do and what trustworthy agents do. The list is spot on, so much so that I took his blog and made it into an office meeting a few weeks ago. Marc and Todd both have a marketing background. They both understand what the consumer wants. They both understand it's about the viewer, buyer, seller, reader, listener. It's not about us. 1000Wattblog even made a video about this very thing called, I'm not a lead. If you haven't seen it you really need to. The video says so much about our profession.

I think video blogging is the next rage, I actually think the rage is here. We're on the cutting edge with this AR video contest. I learned more from watching each of the videos submitted than I could have ever imagined. Save your special effects and silly themes for Youtube and MySpace. If you really want to video blog, connect with the viewer. Be you. Just like in real life, not everyone watching will relate to your video blog, but that's OK. You're looking for real connection and trust. The cheese factor in real estate video scares me. It makes me wonder if we continue with the silly, hokey real estate videos that the next Harris poll will rate our profession even lower. Video blogging is no different than written blogging, it doesn't work if you can't find your voice.

So I don't know if Todd's video will win the contest, but it doesn't matter. Todd is really the big winner here. He has found his niche. He now knows that he can use his video background to generate real estate leads. He can learn the technical aspects of selling real estate along the way. Todd is a marketer first and he understands his market better than most veterans. My guess is that if Todd continues to video blog like this he'll be swamped with leads.

Please watch Todd's contest entry here and let me know what you think.

Foreclosure in The Oaks at Calabasas

Tracey Thomas Calabasas, CA Real Estate (Keller Williams Realty) — Tue, 11 Mar 2008 00:05:04 -0500

Several of my clients called me on Friday about the new, mysterious house for sale in The Oaks at Calabasas with the dramatically low price and no picture on MLS. I have all of my buyers set up with automatic MLS listings so they are emailed immediately when a home comes on the market that meets their criteria. The system is so great that every once and awhile my clients will know before me about a new listing. It just so happens that I was out with buyers on Friday and although I did see the notice of the new listing on my phone, I was busy and didn't read the details. It didn't matter, if news is important enough you'll hear it from more than one source and I certainly did.

So yes, there is a bank owned property on the market in The Oaks (REO's we lovingly call them). The house was built in 2006 and has five bedrooms and six baths. The lot is 12,050 square feet and the house itself is 5,353 square feet. Since there are no pictures on the Multiple Listing Service I grabbed my camera and took photos when I was there.

Public records show this home was purchased in March of 2006. The buyers originally borrowed $1,461,292, four months later they refinanced their first mortgage and took out a second mortgage for a total of $2,210,000 (an additional $750k). A year later the house was listed for $2,900,000 (6/15/07) just a few weeks before the July mortgage meltdown. Still not landscaped this house just sat on the market. Even a price reduction to $2,500,000 in August didn't help.

Unfortunately the house was foreclosed on just six months later. One wonders if there ever was a payment made on those new mortgages since the process of foreclosure takes just about six months. The house is now on the market again for $2,100,000. This is the lowest price per square foot in The Calabasas Oaks at only $392.30. But is it worth it? Now that's another question entirely. Following are my viewing notes (kind of like wine tasting notes). I don't usually publish my viewing notes publicly (I send them to my clients only) because as a Realtor we're not supposed to advertise another Realtors listing. But I'm making an exception in this case since they're so juicy.

...CONTINUED

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Foreclosure in The Oaks at Calabasas

LA Traffic and the 4realzEd Seminar

Tracey Thomas Calabasas, CA Real Estate (Keller Williams Realty) — Sat, 08 Mar 2008 19:45:48 -0600

I was so excited Thursday morning to be heading off to the 4realzEd seminar on Internet marketing. I'm a huge fan of Rain City Guide and Dustin Luther. I live in Calabasas, less than 20 miles from the Skirball Center so my decision to attend was a no brainer. As I inched my way to the Freeway, I was glad that I left my house early, but the traffic seemed much heavier than usual. I quickly checked the traffic on my iPhone and every single road heading South was RED! Then my phone rings and its Siobhan from my office, she travels to Beverly Hills a few days a week and wanted to warn me that there was a Sigalert plus a landslide on Sepulvada Blvd. Oh Brother, no alternative routes and the cars were just inching a long. I could probably walk faster than I was driving.

There I sat on the 101 just watching the clock. So I did what any other geek heading to an Internet conference would do, I grab my phone and start checking my email. I clean out my morning inbox and actually send a couple of quick emails as I inch along. When I finally do make it to the Skirball Center they are just getting started so luckily I didn't miss anything.

The seminar was interesting and informative, with lots of visuals and plenty of cutting edge information. Everything that I learned about blogging and Internet marketing in the past year was crammed in to this one day seminar, plus some. I wish I would have taken this seminar last year, it would have saved me a lot of time. Dustin is a knowledgeable and a very likable guy, (in person he is exactly what he sounds like in his blogs). He oozes with enthusiasm, so much so that he should be the poster boy for sharing insider real estate information on the Internet. Jim Marks is a little more corporate, but still a very engaging and warm speaker. I'd love to sit and pick this guys brain for a day or two. My big Ah-Ha from the day was from Jim's end of the day wrap. He spoke about how important it is to track your results and dollars spent. He shared many ideas on how to know where to spend your marketing dollars to get the most ROI. And really isn't this what it's all about?

I left the seminar with some great ideas and some major tweaks for my Internet marketing campaign. In addition to meeting these two very giving speakers I also had the pleasure to meet some of my Activerain buddies, Marlene Bridges and Irina Netchaev. Marlene is delightful and a sweet gal with the best smile you've ever seen, and Irina is my Keller Williams family from Pasadena. I felt like I already knew Irina since we have spoken on the phone before. It was so great to put the blogs with the real people. Both of these gals are exactly like their blogs. Harley Ramsey from my office was also there and we had an opportunity to catch up during lunch which was great.

Here is a picture of us, from left to right, Harley Ramsey, Me, Marlene Bridges, Irina Netchaev.

Calabasas Real Estate Sales Numbers for February - The Rich are Getting Richer

Tracey Thomas Calabasas, CA Real Estate (Keller Williams Realty) — Tue, 04 Mar 2008 00:01:48 -0600

There were thirteen closed escrows in Calabasas during February 2008 with an average sale price of $1,745,692. Currently there are 174 homes on the market and an additional 28 with open escrows. If you take a good look at this chart you'll see that the upper end is moving rather well.

This brisk movement in the upper end is an indication that the rich are getting richer because they are seizing the buyers market opportunity. I have had more buyers in the $2,000,000 and up range contact me since the beginning of the year than I did all of last year. This is any indication that the smart money is on buy now and don't wait until its to late.

Address	Bd	Bth	Sty	Gar	SqFt	Yr Blt	Price	DOM
23814 Mulholland Hwy	2	2	1	2 D	920	1987	$315,000	10
26311 W Plata Ln	3	3	3	2 A	1,344	1981	$420,000	135
23643 Park Capri 40	3	2	1	2	1,290	1972	$425,000	9
26967 Calamine Dr	4	3	2	2 A	2,322	1979	$710,000	76
3604 Adamsville Ave	4	2.5	1	3 A	2,116	1973	$940,000	180
24525 W Via Esquina	3	2.5	2	2	1,943	1989	$900,000	55
23145 Park Contessa	2	2	1	2	1,940	1969	$1,035,000	9
25659 Whittemore Dr	3	3	S	2 A	1,851	1984	$1,000,000	85
3631 Deauvilla Ct	5	4	2	3 A	3,530	1991	$1,385,000	102
3940 Prado Del Maiz	4	5.5	2	3 A	4,611	2005	$2,065,000	25
25281 Prado Del Grandioso	4	4.5	1	3	5,323	2005	$3,600,000	45
4215 Vicasa Dr	7	9	2	4	10,204	1997	$4,000,000	22
25335 Prado De Los Suenos	4	4	1	4	7,950	2007	$5,899,000	39

There are several spectacular homes for sale in Mountain View, Mountain Park and The Oaks right now. I have been showing several buyers homes in these neighborhoods and the inventory is gorgeous and prices unbelievable. I have seen homes in both Mountain View and Mountain Park for significantly less than $400 a square foot that are updated with pools and views last month. Just a year ago, if you did find a home in one of these neighborhoods for this price it would have needed major work. Homes in The Oaks are selling well with most listed for significantly over $550 a square foot.

Please call me at (818) 652-2937 and I will be happy to share my viewing notes with you. I also track home prices by neighborhood and find that this helps clients make accurate decisions when buying or selling a home in Calabasas. If you would like more detailed information on selling your Calabasas home and moving up please call me for a detailed report.

Devious Genius Discovers Woodland Hills

Tracey Thomas Calabasas, CA Real Estate (Keller Williams Realty) — Mon, 03 Mar 2008 23:02:11 -0600

Developer Victor Girard did his part to improve the appearance of the Far West Valley of Los Angeles and his legacy remains on the winding streets south of Ventura Boulevard in Woodland Hills. Girard's subdivision in the barren west end of the Valley needed to be dressed up, so he planted 120,000 shade trees and shrubs including seven varieties of eucalyptus, five kinds of acacia, Arizona elms, and Monterey pines. On the corner of what today are Ventura and Topanga Canyon boulevards, he built false storefronts and garish Turkish-style mosque towers to make the community look more established. Folklore has it that he spent time in jail for this "false city".

The town of Girard was born on February 4, 1923, on 2,886 hilly acres purchased from the Brant dairy. The young real estate developer, Victor Girard Kleinberger, came to Los Angeles from Louisville about the turn of the century as an ambitious 18 year old that would develop towns all over the county. He was called a "devious genius, a natural dreamer and big spender". His dream for the west Valley was a little crazy. There was no streetcar access to Girard, as there was to other Valley towns. Girard expected motorists to negotiate Cahuenga Pass plus miles of twisty Ventura Boulevard and pass countless new real estate ventures to reach the 6,000 lots that Girard hoped to sell.

To lure prospects, Girard ran ads emphasizing that his town was closer to the beach than any place in the Valley, since there was a winding road through Topanga Canyon. He also published the Girard News, built stables and a riding club, and opened the Girard Country Club and golf course with a championship size pool and tennis courts. Today the golf course is known as the Woodland Hills Country Club. "Sucker buses' brought potential buyers out to the far end of the Valley, where teams of sales agents put on the pressure.

In 1941, the community was renamed Woodland Hills, an appropriate name because of all the trees that Girard had planted years earlier. There are still a few "Girard" homes in Woodland Hills today. One of them is 21339 Castillo Street, off of Canoga Avenue which is currently for sale. This home was built in 1925 as a two bedroom, one bath cottage. It has been lovingly restored from the bottom up and includes new beams, copper plumbing, and all new electrical wiring.

Don't miss this rare opportunity to own a piece of San Fernando Valley history. We will be hosting an open house this Sunday March 9, 2008 from 2:00-4:00 PM. Please join us for a tour of this wonderful home and guest house.

21339 Castillo Street, Woodland Hills CA - Offered at $749,000

Real Estate According to Gnat

Tracey Thomas Calabasas, CA Real Estate (Keller Williams Realty) — Mon, 25 Feb 2008 15:01:27 -0600

I wrote a blog the other day about thriving or surviving in this changing real estate market. You can read the blog here: Survive or Thrive - Carpe Diem.

In response to that blog, I received the following email:

Right, right, I hear you loud and clear new agent, and my answer isn't pretty.

A few weeks ago I went to seminar at one of our sister offices in another town, on how to get price reductions. It was very informative and interesting with some great perspectives from top producing agents on what they were doing right now in this market to get their seller's to be more realistic. But my big Ah-ha from this discussion wasn't from the presenter; it was from "Gnat" an agent in the audience.

About three quarters of the way through the seminar I could see that "Gnat" was getting agitated. He started interjecting his thoughts more and more. Eventually he stood up and started shouting and pointing his fingers at the group (I'd say about 50 agents). He said, "Listen you guys, you're never going to work these deals like you should, why don't you just give them to someone who will?" I have to admit, I was surprised by this little outburst. I rolled my eyes at the guy sitting next to me. As the seminar went on, and more ideas were being shared, "Gnat" stood up again. This time he was boiling and waving his hands all around, he again said, "If you can't do your job, then let me do it!" He started shouting "2.5% of zero is zero, if you just let me work your deals, I can sell them, I can close them, I'll even give you a referral fee!" Now I look at the guy next to me and really roll my eyes. "You're just not working the deals, give them to me!" Gnat shouts.

Ok, ok, so this little town breads some serious hostility I'm thinking. I better get back to my valley before this crazy guy really goes off. So after reading this email from new agent, "Gnat's" rant came to mind. Ya know, "Gnat" is right, you gotta work these transactions. This is not 2006 where you can put an overpriced listing on the market and it will sell anyway. Today you have to know your hyper local market and you have to be able to communicate the market data to your seller consistently and in a form that he'll understand. It takes hard work and a commitment to the process to make a seller understand. Our job is so much more than just real estate. It's also about understanding people and how they need the information delivered. Some people are very visual and need charts and graphs, others only need the numbers. Some are emotional and need time to digest, others are very bottom line and just want the straight story.

So new agent, here is the answer to your question. Don't take an overpriced listing in the first place unless you are prepared to go the distance. And if you do decide to take the overpriced listing then you better gauge your seller's motivation before they sign on the dotted line.

If you wouldn't bet the farm on your CMA and you don't know how to compute absorption rates then please partner with someone who does. "Gnat" is right, 2.5% of zero is a big fat ZERO! You are doing a huge disservice to your clients if you take listings that are overpriced and you don't know how to get a price reduction. And even worse than this, you're messing up the market with all of this stupid overpriced inventory sitting out there.

What happened to the days when new agents had to partner with a seasoned agent for the first several transactions? Why don't we do that anymore? And if you're not experienced in this market then you're new. You cannot learn this market from a book or training class. This market takes dedication and a through understanding of the numbers.

When I look at the MLS and see listings grossly overpriced for months on end it makes me want to bang on the seller's door and ask them why? What does your agent say Mr. Seller? Does he give you the market data? Don't you know that only the top10% of the listings in your neighborhood are selling? Is your agent providing you with weekly updates on showings and feedback? Do you know how many houses are in escrow?

So new agent, the answer to your question is, "Just say NO." Don't take the grossly overpriced listing and if you do decide to take a listing that is overpriced, make sure the seller knows your marketing plan before hand. Have a strategy for price reductions and use the numbers to tell the story, not emotion.

2.5% or even 3% of zero is still ZERO no matter how you look at it, so if you're having problems getting correct pricing on a listing, please ask someone for help. It's better to take a referral fee and get the house sold than to make yourself and the seller miserable. Don't spend money on advertising and carry a huge inventory of houses that will never sell, it just doesn't make sense!

Before I hit the little publish button here, I have two thoughts.

1. Anyone that reads my blog or knows me personally understands that I am the first to jump in and help any agent, so this post comes from a place of smacking some sense in to those agents walking around complaining about their seller's. This is tough love guys, your seller isn't the problem. Just think about who took the listing in the first place.

2. And yes, of course I have some overpriced listings, but I'm working them every single day and you bet that my seller's have the most up to date market data that I can find. They get it delivered to them in emails, in charts, in stories, and in blogs. I am in constant communication with my sellers and like "Gnat" my data just swarms around their heads while they try to swat it away. Eventually I'll get through, I won't stop until I do.

Survive or Thrive ? Carpe Diem!

Tracey Thomas Calabasas, CA Real Estate (Keller Williams Realty) — Fri, 22 Feb 2008 17:03:18 -0600

For the first time in five years, the total number of real estate licensees in California dropped slightly in December!

The total number of CA real estate licensees dropped from 549,244 in November 2007 to 548,959 in December, a 0.1 percent decline. It was the first monthly decline since March 2002. Using the U.S. Census Bureau's population estimate for California of 36.6 million as of July 1, 2007, about 1.5 percent of California's population had a real estate license in December.

There is always a silver lining in that rain cloud, and here it is. Many Realtors are returning to their old careers because the easy money days are gone. Now is the time to carve out your market share. When the market was booming and houses were appreciating faster than a rocket, it wasn't so easy to build a solid relationship with buyers or sellers. Sometimes I felt more like an order taker than a real estate professional. This is certainly not the case now. If you're in the real estate business long term, this is the time to make a name for yourself and to build a good solid client base. If you take the time to do this you'll be reaping the rewards for years.

Our business has changed from everybody and their brother selling real estate for the quick buck to the serious real estate agent only. If you obtained your license in the last five years, your real estate experience has not been ordinary in any way. What you just experienced was an anomaly that probably won't be repeated for a very long time. Double digit appreciation can not be sustained forever and lenders have been burned badly with their lax lending policies. It will be quite sometime, if ever before lenders loosen their requirements to the 2000/2006 loan programs that gave money to anyone who could fog a mirror.

I know it doesn't feel like it right now, but this market is where you can make or break your career. Seller's need a real estate agent with great marketing skills and excellent market knowledge. Your ability to take a listing at the correct price and to creatively market it will gain you the respect for long term referrals. Seller's used to brag about how much they made when selling their house, now they brag about how long it took their Broker to sell the house and what she did to market the home.

I went to a party at one of my clients homes the other night. Her and her husband built a gorgeous new home, I currently have their old home listed. She was so excited to introduce me to her friends and say "This is my Broker, you should see what she's doing to market my home!" Just two years ago, I wouldn't have even been invited to this party, she would have been bragging about how much she made on the home that she sold not the job I was doing.

For those of us that have a growing inventory of listings, it's an opportunity. I know, it's tough, with slow sales, it means slow income and somehow those bills just keep coming at the same speed. Believe me, I get that. But you have to look past all of that and seize this time to get your sellers on your team. You have the opportunity to really shine and do a great job. This is the time to gain respect and to make a client for life. These are the seller's that will talk about you. In that old booming market, the talk was about how much they made on the sale, not the Broker.

Open, honest and constant communication is the only way to keep the relationship good. It's an emotional issue with sellers and we need to understand that. Many are in tough situations, but as a professional it's important to get that market data and put it in an easy, concise form so that your seller's understand their market. It takes patience and great listening skills, but this our job. We are the experts, and we need to provide this information consistently. Ignoring market data will not make the problem go away and avoiding your seller phone calls is listing death.

Only the strong will survive this real estate market, but the smart and creative, we will thrive!

Secluded Woodland Hills Artist Retreat with Finished Basement and Studio

Tracey Thomas Calabasas, CA Real Estate (Keller Williams Realty) — Fri, 22 Feb 2008 14:25:34 -0600

Tracey Thomas, GRI, SRES | Keller Williams Realty | 818-652-2937

21339 Castillo Street, Woodland Hills, CA

Secluded Artist Retreat with Guest House and Finished Basement

2 Bdrm Single Family House

offered at $749,000

Year Built	1925
Sq Footage	1,020
Bedrooms	2
Bathrooms	1 full, 0 partial
Floors	2
Parking	Unspecified
Lot Size	16,000 sqft
HOA/Maint	$0 per month

DESCRIPTION

On an over sized approximately 16,000 square foot professionally landscaped lot, this rare extensively renovated Victor “Gerard” Kleinberger home + detached studio + finished basement/recreation room offers seclusion + privacy. Hardwood floors, recessed lighting, stainless steel appliances, rebuilt fireplace, in-ceiling sound + alarm system, DSL/CAD5 pre-wiring, updated plumbing, HVAC, and electrical, new irrigation/drainage, and reinforced foundation work complete this one of a kind residence.

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
Walk-in closet	Hardwood floor	Living room
Bonus/Rec room	Office/Den	Dining room
Dishwasher	Stove/Oven	Stainless steel appliances
Basement	Laundry area - inside	Balcony, Deck, or Patio
Yard

OTHER SPECIAL FEATURES

Victor Gerard Kleinberger Home with Detached Studio

ADDITIONAL PHOTOS

Seller contact info:

Tracey Thomas, GRI, SRES

Keller Williams Realty

818-652-2937

For sale by agent/broker

Equal Opportunity Housing

Posted: Feb 22, 2008, 10:08am PST

Calabasas Real Estate Numbers for January 2008

Tracey Thomas Calabasas, CA Real Estate (Keller Williams Realty) — Mon, 11 Feb 2008 21:42:32 -0600

January 2008 wasn't such a great month for Calabasas real estate. But don't panic when you look at these numbers, it's not as bad as it looks at first glance. As I type this article there are 176 homes on the market in Calabasas. This translates into about an eleven months supply of inventory. It's a buyers market for sure! Although the average price dropped about 20% compared to last January's prices it looks like February's numbers will be better. There are currently 19 properties in escrow and several of these are over $2,000,000.

	Jan. 2006	Jan. 2007	Jan. 2008	# Change from 2007	% Change from 2007
Closed Escrows	27	26	16	-10	-38.462 %
Avg. Sale Price	$1,302,620	$1,366,307	$1,086,820	-279,487	-20.456 %

The rain has finally stopped and buyers are out in full force. I have been swamped by buyer calls ready to buy, and they're looking for "deals". My open houses have seen much more traffic and the skuttle butt among most agents is that they are busy too. I have also had several smart move up buyers list their homes because they understand that if they take a 10 or 15% hit on the sell side, they'll make it up plus on the buy side. I agree with this thinking and I'm encouraging buyers who are in a good financial position not to wait to move up. It's possible now to buy a home in Calabasas Park Estates, Mont Calabasas or even The Oaks for under $2,000,000. Just six months ago this would have been almost impossible.

The good news is if you are a first time home buyer and you want to live in Calabasas you can finally buy a home for under a million dollars. There are several homes in the Mulwood section of Calabasas that are listed in the $700,000 to $800,000 range. This is a wonderful neighborhood and is within walking distance to the elementary, middle and high school. There are even a few bank owned properties. If you're interested in a condo there are several on the market from just under $400,000 to slightly over $500,000. Many of these are within walking distance of the Calabasas Commons.

If you are thinking about selling your home and moving up in Calabasas and want to know how this market will affect your move, call me for an in depth analysis of your sell and buy numbers. I'll help you determine if this is the right time to move up or stay put.

January 2008 Calabasas Closed sales by Address

Address	Bd	Bth	Sty	Gar	SqFt	Yr Blt	Price	DOM
4201 Las Virgenes Rd 104	2	2	1	2	862	1992	$360,000	112
23401 Park Sorrento 27	2	2	S	2	1,011	1973	$380,000	129
4612 Park Granada 55	3	2	1	2	1,326	1972	$410,000	95
26124 Roymor Dr	4	1.75	1	2 A	1,781	1964	$590,000	22
4339 Oak Glen St	3	2.5	2	2 A	1,594	1988	$595,000	153
26033 Adamor Rd	4	2	1	2 A	2,175	1965	$690,000	28
3747 Eddingham Ave	3	2	1	2 A	1,674	1971	$750,000	13
3424 Stoneridge Ct	3	2.5	2	2 A	2,499	1990	$765,000	30
4212 Park Verdi	4	2.75	2	3 A	3,075	1989	$1,179,000	115
23262 Park Corniche	4	3.5	2	3	2,995	1989	$1,350,000	153
26939 Alsace Dr	4	3.5	1	3 A	4,043	2003	$1,615,000	77
3975 Prado Del Trigo	3	3.5	2	3 A	3,554	2005	$1,800,000	130
23306 Park Hacienda	5	5	2	3 A	3,850	1978	$1,890,000	72
3960 Prado De Las Frutaas	4	3.5	2	3 A	4,130	2005	$2,160,000	95
5497 Amber Cir	6	6.5	2	3 A	6,610	1994	$2,500,000	60
4282 Prado De Los Ciervos	5	8	2	3 A	5,778	2002	$2,915,000	82

Talking to Strangers

Tracey Thomas Calabasas, CA Real Estate (Keller Williams Realty) — Wed, 06 Feb 2008 23:54:11 -0600

A funny thing happened to me on my way home from the office yesterday. I stopped in Trader Joes to pick up a few things. I was walking down the frozen aisle looking at the desserts trying to talk myself out of grabbing one of those Tiramisu cakes that I just love. This older man (like 70ish) walks up to me and says, "Excuse me, you must be self employed". I looked at him, laughed and said, "How can you tell?" He says, "It's the way you walk with purpose, and you know people with 9-5 jobs, they kind of mosey around, us self employed people, we make every minute count". I nod my head in agreement while still checking out the Tiramisu from the corner of my eye.

But the guy has my attention. So I slide my hand in my coat pocket and start fishing around for one of my business cards, I figure maybe the guy wants to buy real estate from this very determined and purposeful Real Estate Broker. So I ask, "So, what do you do?" I figured this would help me determine if he was even in a position to buy or sell a house plus men love to talk about their work so I'd just listen for any type of clue that would help me make a connection. Well, what came out of his mouth shocked the Tiramisu right out of my thoughts. He said, "I have been doing taxes for more than 50 years and I also do retirement planning." I went to open my mouth about real estate but didn't get the first syllable out before he said, "I have this great new retirement product that many real estate agents find save them money on their taxes, blah, blah, blah."

OK, now I'm laughing to myself and thinking I finally met my match. One of the ways that I've built my data base over the years has been talking to strangers. No matter where I am or what I'm doing I always have business cards tucked away ready to grab at a moments notice. I have cards in my cell phone case, in my wallet, in a business card holder, in every pocket of all of my jackets and coats, in the ashtray of my car in the back pocket of my jeans and even in my sunglasses case.

So the guy is engaging, funny, genuine and basically just nice. I listen for a few seconds and he hands me his business card while asking for mine. Of course I reciprocate and we both laugh. I finally found out what it feels like to be on the receiving side of a "real estate pick up".

If you haven't tried building your data base by talking to strangers you're missing a great and fun opportunity. I've found that if I'm genuine, upbeat, a good listener and not pushy but intentional that I can meet people anywhere, anytime. Heck yesterday at the polls was a wonderful opportunity. I voted late (after the Trader Joes run) so I experienced long lines and no ballots for the Democrats. You want to talk about a hostile bunch! But that's another story entirely.

So the next time you're sitting at the car wash or in a long line at the grocery store, you might want to strike up a conversation with a stranger. You never know who you'll meet and you have nothing to lose since you're just standing there anyway. Real Estate is built on relationships, if you can connect with people, be yourself, be genuine, engaging and intentional you can succeed. Anyone can learn real estate technical knowledge; few agents can generate leads consistently and turn the leads in to life long clients.

I do have one word of caution regarding this method. If you have children this is a great method of lead generation until your kids hit their teens. At this point they will be mortified and run and hide when you talk to strangers. My 17 year old who has tolerated my talking to strangers for his entire life now just leaves the building when I start. I laugh and remind him that his car was purchased with money that I got from talking to strangers. He is not amused and rolls his eyes.

Gorgeous Mountain Top Bell Canyon Estate - Las Virgenes Schools

Tracey Thomas Calabasas, CA Real Estate (Keller Williams Realty) — Wed, 06 Feb 2008 21:10:41 -0600

Tracey Thomas, GRI, SRES | Keller Williams Realty | 818-652-2937

69 Dapplegray Road, Bell Canyon, CA

Beautiful Mountain Top Bell Canyon Home, Las Virgenes School District

5 Bdrm Single Family House

offered at $1,490,000

Year Built	1989
Sq Footage	3,837
Bedrooms	5
Bathrooms	4 full, 2 partial
Floors	4
Parking	Unspecified
Lot Size	60,984 sqft
HOA/Maint	$249 per month

DESCRIPTION

This spectacular 5 bedroom mountain top Bell Canyon home has amazing views from almost every window. Beautiful oak floors with marble inlays, 2 fireplaces, wet bar, arched windows and doorways are just some of the details that this executive home features. The large eat in gourmet kitchen has imported granite counter tops plus 2 sinks and storage galore. The formal dining room has recessed lighting and a built in buffet. The master suite features a fireplace and large patio overlooking the mountains and valleys. There is a large bonus room located downstairs that could be used as an office, gym or wine cellar and is not included in the square footage. Gated Bell Canyon has its own equestrian center, park, hiking trails, club house, lighted tennis courts and is located in the highly acclaimed Las Virgenes School District.

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
High/Vaulted ceiling	Walk-in closet	Hardwood floor
Tile floor	Family room	Living room
Bonus/Rec room	Dining room	Breakfast nook
Dishwasher	Refrigerator	Stove/Oven
Microwave	Granite countertop	Laundry area - inside
Balcony, Deck, or Patio	Yard

COMMUNITY FEATURES

Garage parking	Tennis court(s)	Playground
Gated property	Secured entry

OTHER SPECIAL FEATURES

Equestrian Center

ADDITIONAL PHOTOS

Seller contact info:

Tracey Thomas, GRI, SRES

Keller Williams Realty

818-652-2937

For sale by agent/broker

Equal Opportunity Housing

Posted: Feb 6, 2008, 4:54pm PST

Can the Calabasas Cookie Eaters Predict the Outcome of The Super Bowl?

Tracey Thomas Calabasas, CA Real Estate (Keller Williams Realty) — Sun, 03 Feb 2008 16:50:02 -0600

I just got back from Gelsons in Calabasas and being the "sweet tooth" that I am, I had to stop by the bakery for my favorite Black and White cookie. As I was waiting in line I noticed that they had special New York Giant and New England Patriot cookies for the Super Bowl.

There was a tray and a half of New York Giant cookies (18 to be exact) and only three New England cookies left. I love to talk to strangers so I said to the guy standing next to me, "I guess the Calabasas cookie eaters think that the Patriots will win the Super Bowl" while I pointed at the cookies. We both started to laugh and he decided to order some Giant cookies to take to a Super Bowl Party that he was going to.

In my book it doesn't matter who wins if Pittsburgh isn't playing. Maybe Gelsons should make some Bank of America and Countrywide cookies and see what the cookie eaters think about that.

10 Strategies to Increase Your Self Confidence

Tracey Thomas Calabasas, CA Real Estate (Keller Williams Realty) — Sun, 03 Feb 2008 01:40:43 -0600

I've had the opportunity to mentor quite a few newer agents lately. It's been fairly easy to teach them how to complete the technical part of a real estate transaction, but when it comes to dealing with their clients or other agents or even service providers I have had a very difficult time conveying the importance of confidence and taking control of the situation.

Real Estate is a relationship business, it's not transactional. No matter how beautiful of a contract you write or how completely you understand the theory of negotiations, if you don't have confidence the transaction still has a good chance of crumbling. It's us, the agents that are the glue that holds the whole thing together.

Self confidence is the difference between feeling unstoppable and feeling scared out of your pants. Your perception of yourself has an enormous impact on how others perceive you. Perception is reality - the more self confidence you have, the more likely it is you'll succeed.

Although many of the factors affecting self confidence are beyond your control, there are a number of things you can do to build self confidence. By using these 10 strategies you can get the mental edge you need to reach your potential.

1. Dress For Success

Although clothes don't make the man, they certainly affect the way you feel. No one is more conscious of your physical appearance than you are. When you don't look good, it changes the way you carry yourself and interact with other people. Use this to your advantage by taking care of your personal appearance. This doesn't mean you need to spend a lot on clothes. Just make sure you have a few good quality outfits that fit you well and that are comfortable but business like. I have found that darker solid colors are more authoritative than vibrant prints. This is a matter of personal taste but you may want to take a good look at any business magazine or TV show and see what successful and confident people are wearing.

2. Walk the Walk and Talk the Talk

One of the easiest ways to tell how a person feels about herself is to examine her walk. Is it slow? tired? painful? Or is it energetic and purposeful? People with confidence walk quickly. They have places to go, people to see, and important work to do. Even if you aren't in a hurry, you can increase your self confidence by putting some pep in your step. Walking 25% faster will make to you look and feel more important. Similarly, the way a person carries herself tells a story. People with slumped shoulders and lethargic movements display a lack of self confidence. They aren't enthusiastic about what they're doing and they don't consider themselves important. By practicing good posture, you'll automatically feel more confident. Stand up straight, keep your head up, and make eye contact. You'll make a positive impression on others and instantly feel more alert and empowered.

3. Eye Contact, Smile and Touch

This is a big one. Looking directly at the person you're talking to, smiling and touching them will do more than almost anything else on this list to make your confidence level rise. A firm handshake or even a pat on the arm makes it seem like you're in control. Whatever you are trying to accomplish or negotiate will be a lot easier if you can connect with the other person. Don't be afraid to connect personally with another person. Negotiations are not just about inanimate things, they are all about people and emotions.

4. Motivational Books and CD's

One of the easiest ways to build instant confidence is listening to a motivational speech. There are so many great CD's available and several real estate specific. Listen to these in the morning while you're getting ready for work and in your car while driving. I find this inspirational and a sure way to keep my confidence and positive attitude even on the most trying of days. Some of my favorites are Zig Zigler, Brian Tracy, Norman Vincent Peal, and Brian Buffini.

5. Gratitude

When you focus too much on what you want, the mind creates reasons why you can't have it. This leads you to dwell on your weaknesses. The best way to avoid this is consciously focusing on gratitude. Set aside time each day to mentally list everything you have to be grateful for. Recall your past successes, unique skills, loving relationships, and positive momentum. You'll be amazed how much you have going for you and motivated to take that next step towards success.

6. Compliment other people

When we think negatively about ourselves, we often project that feeling on to others in the form of insults and gossip. To break this cycle of negativity, get in the habit of praising other people. Refuse to engage in backstabbing gossip and make an effort to compliment those around you. In the process, you'll become well liked and build self confidence. By looking for the best in others, you indirectly bring out the best in yourself. Don't fall victim to the negative market talk instead politely excuse yourself and think about how grateful you are that you don't have to dwell on the negative.

7. Sit in the front row

In schools, offices, and public assemblies around the world, people constantly strive to sit at the back of the room. Most people prefer the back because they're afraid of being noticed. This reflects a lack of self confidence. By deciding to sit in the front row, you can get over this irrational fear and build your self confidence. You'll also be more visible to the important people talking from the front of the room.

8. Speak up

During group discussions many people never speak up because they're afraid that people will judge them for saying something stupid. This fear isn't really justified. Generally, people are much more accepting than we imagine. In fact most people are dealing with the exact same fears. By making an effort to speak up at least once in every group discussion, you'll become a better public speaker, more confident in your own thoughts, and recognized as a leader by your peers.

9. Do something that scares you every day

Practice! That's right, low confidence is fear based. The more you try things that make you uncomfortable the easier they'll become and the more confident you will become. You can start by simply talking one thing that is out of your comfort zone everyday and making it a priority. By doing this daily you'll increase your comfort zone and and your self confidence.

10. Focus on contribution

Too often we get caught up in our own desires. We focus too much on ourselves and not enough on the needs of other people. If you stop thinking about yourself and concentrate on the contribution you're making to the rest of the world, you won't worry as much about you own flaws. This will increase self confidence and allow you to contribute with maximum efficiency. The more you contribute to the world the more you'll be rewarded with personal success and recognition.

If You Fall In A Mud Puddle, Check Your Pockets For Fish

Tracey Thomas Calabasas, CA Real Estate (Keller Williams Realty) — Fri, 25 Jan 2008 23:36:33 -0600

I got a call yesterday from Marc Davidson over at 1000Watt Consulting. He told me that he was tired of the the gloom and doom real estate reporting already. He said that he was writing a series on things that "fascinated" him in the real estate business. He wrote an inspiring post called Walking on The Moonwhich explores a different and positive real estate perspective that you don't hear so much these days. You might want to have a quick read, its more of what we all should be writing about if we want to turn the media tide, but that's another blog entirely.

Take responsibility for your business.

I laid in bed last night and thought about the market and my business and my conversation with Marc, and wondered why I felt like 2008 was going to be a great year. You know, I've never been one to follow the pack, I basically live my life hearing the beat of some other drummer. My real estate career is no different, market up or market down, it really depends on what I do that drives my business. I've never given the market much credit when I had the big pay days and I don't blame the market when my credit card balances start to climb.

Why fix it if it ain't broke? If everything is going along just fine, then no changes are in order, but if your business declines, then you need a change.

I'm a control freak, and anyone that knows me even a little will tell you this. Maybe that's what I love about real estate the most, I can control my income. Nope, I can't control the market, but I can control what I do with the market that is in front of me. It's like a game, and it is certainly not boring. I don't use the same marketing techniques for each home that I list so why would I use the same marketing techniques for a different market? I've found my niche has changed as the market has shifted from a buyers market to a sellers market and that's because I changed with the market. I did it naturally, I didn't even notice until last night.

It doesn't matter what I think about the market, I have to adjust my thinking if I want new opportunities.

I think the market change is good, we needed it. But even if I didn't think the change was good or that it was long over due, I'd still have to adjust the way that I do business and my mindset. My point here is that we (real estate professionals) don't make the market, but we do have to succeed in whatever market that's in front of us. Market up, or market down, if there is movement there is a living to be made, and a good one if you ask me.

You can avoid having ulcers by adapting to the situation: If you fall in the mud puddle, check your pockets for fish. ~Author Unknown

Calabasas Move Up Buyers, What Are You Waiting For?

Tracey Thomas Calabasas, CA Real Estate (Keller Williams Realty) — Fri, 25 Jan 2008 18:55:14 -0600

I think it's a great time for move up buyers to buy! "Huh?" you say in disbelief. Here's the math:

You own a home in Calabasas, it would sell for $1,200,000 now, but last year it would have sold for 10% more, say $1,320,000. You're not sure what to do, should you sell now and move up or wait? The house that you want to purchase is currently listed at $1,800,000. Only 2 years ago, this home would have sold for $1,980,000. We really don't know what the market is going to do, but we do know what we have right now.

Calabasas home prices are down approximately 10% from last year.
If you sell your Calabasas home now for $1,200,000 and purchase the larger home for $1,800,000 you'll be spending an additional $600,000 for the new home.

If you would have sold your home in 2006 for $1,320,000 and purchased the larger home for $1,980,000 you would have spent an additional $660,000.

That's a whopping $60,000 more then than now.

What are you waiting for?

If you are a move up buyer, there is not better time than now to put your home on the market and and start looking for your next home. You may not get as much for your house as you would in 2006, but you also won't pay as much for your new home.

Interest rates are the lowest that they've been in four years making it an even better time to make that move up decision.

2007 Year End Number of Homes Sold Report for Calabasas, CA

Tracey Thomas Calabasas, CA Real Estate (Keller Williams Realty) — Thu, 24 Jan 2008 15:38:49 -0600

Total number of home sales down 13% in 2007.

There were a total of 293 homes sold in Calabasas, CA during 2007, down 44 (13%) from the 2006 total of 337. Take a good look at the chart above, you can see that home sales were in line with 2006 figures until September. The time from escrow opened to actual close is usually 30-45 days, we can assume that the slow down in sales was actually two months earlier or July and coincides with the mortgage melt down. September, October, November and December were significantly lower in number of sales.

It's a Buyers market - with 9 months of Calabasas homes inventory.

As I write this post there are 172 active properties on the market in Calabasas. The absorption rate (average number of sales per month) is approximately 19* sales per month. This means that we have a nine month supply of homes on the market right now. Six months of inventory is considered a neutral market. Nine months would be considered a buyers market.

January and February will experience similar closed sales (approximately 20)

There are 15 Calabasas homes in escrow right now. These transactions would most likely close within the next 30 to 60 days. It appears that January and February will experience a similar number of home sales (approximately 19 or 20 each month).

The Outlook is for a moderate Spring and Summer 2008.

Move Up Buyers should start planning their move.

Home sales usually increase during the Spring and Summer and 2008 should be no different. Interest rates are lower than ever and buyers that are in solid financial shape will have no problem obtaining a mortgage. Smart move up buyers should seize this opportunity to sell their homes and move up to a larger and more luxurious home this Spring and Summer. This is the time to act if you are moving within Calabasas and are selling a lesser price home to move up. Whatever price concession you make on your current smaller home will be gained plus more on a bigger more expensive home.

First time home buyers with solid resources are encouraged to buy now.

First time home buyers that were priced out of the market before can now afford Calabasas. There are several condo's listed in the $350,000 to $600,000 range and single family homes in the $650,000 and up range. There are a few bank owned properties and short pays that make this the perfect time if you've been trying to move in to Calabasas but thought the prices were too high.

If you would like more information on Calabasas and the market conditions or how these numbers will effect you and your home purchase or sale, please call Tracey Thomas at (818) 652-2937.

*The absorption rate was calculated by taking the total number of sales for July through December (116) and dividing by 6 months. (Six months = July, August, September, October, November and December)

"Seller's Choice" - Beware, these words could mean something you didn't expect

Tracey Thomas Calabasas, CA Real Estate (Keller Williams Realty) — Mon, 21 Jan 2008 23:25:43 -0600

Even in this "buyers market" I received multiple offers on one of my listings last week. As I was reviewing the purchase agreements I couldn't believe how many agents are still writing in "sellers choice" for title, escrow, home warranty company and natural zone disclosure company.

Did you know that if you write "sellers choice" for natural zone disclosure and the other agent doesn't pick a company in the counter offer, you'll end up with a company called Seller's Choice Disclosures? That's right, there is actually a company called Seller's Choice Disclosure. This is great if that is who you wanted, but not so great if you didn't. Also, if you just write NHD in the box then escrow will pick the company. There is no company called NHD. NHD are just the initials for Natural Hazard Disclosure.

The same goes for escrow, title and home warranty company. I Googled "sellers choice escrow" and came up with 65,400 results. I didn't see any escrow companies in CA with this name, but why take a chance? Just write what you want in the blank so there is no confusion.

And this brings me to another very important point regarding preparing a purchase agreement for a buyer. It's important to always specify who you want for NHD, home warranty, title and escrow companies. Many times the listing agent won't have a preference and you'll get the company that you want.

I've learned in negotiations that you usually have to give up something to get something. If you don't specify these items initially, then you can't even use them in your negotiations. To me it's important to start your negotiations from a position of power and this means preparing a well thought out purchase agreement with all of the blanks filled in.

If you are purchasing a home in Calabasas CA and you'd like your California Residential Purchase Agreement prepared and negotiated by a professional who understands the nuances of this very important contract please call Tracey Thomas at (818) 652-2937.

Texas Hold'em - Just Because I Make It Look Easy Doesn't Mean It Is

Tracey Thomas Calabasas, CA Real Estate (Keller Williams Realty) — Thu, 17 Jan 2008 08:45:13 -0600

This is such a great story, I couldn't wait until the transaction closed to write this post. Mr. and Mrs. buyer contacted me via email. They said they had seen my blog and were relocating to Los Angeles from out of State and needed to find a home that suited their needs in one weekend. They had been to the San Fernando Valley one other time on a house hunting trip but didn't find what they were looking for.

Both, Mr. and Mrs. Buyer were very tech savvy with Mr. Buyer relocating for a position that he had accepted with an online gaming company. After several emails back and fourth we narrowed it down to seven homes. I previewed all of the homes and even video taped the homes that I thought would suit their needs the best, streaming the video online for them to review.

With all of this information in hand Mr. and Mrs. Buyer made arrangements to fly in to Los Angeles for a weekend whirlwind house hunting trip. Luckily when I met Mr. and Mrs. Buyer we had an instant rapport. Our house hunting trip was a success and we found a home that was right. Well almost right. It wasn't in the right price range but everything else was good.

Knowing the Calabasas market like I do, we agreed to make an offer far below the asking price. When I received the counter offer and presented it to Mr. and Mrs. Buyer who by this time were back in their home state, I received the following email.

"Tracey -- I am concerned about making a counter-offer on this property without an understanding concerning the end game. If it takes going above $1.81, I would be willing, however, I do not think it at all unreasonable to have participation from the Realtors in assisting us in going above this price. At this stage I would like to have your commitment to share in the overage above 1.81 on a 25% basis ... meaning if we do settle at 1.85 that would be a $10k rebate ($40k * 25%) of your commission ... which is well under the commitment from Discount Realtor (which would be $11.6k rebate). I believe this is quite fair Tracey ... Mrs. Buyer found this house ... WE Settled on it prior to flying ... WE went around shopping ONCE with you ... WE are the best buyers a Realtor could ever ask for ... and WE are closing on this very quickly.
Please provide your commitment here so we can finalize the counter-offer, which I would like to make $1.81 ... and find our way to a final price, which is in both our interests to keep low."

Now because Mrs. Buyer is so tech savvy she had been searching endlessly online for homes. She had done a magnificent job of researching the homes and the neighborhoods. All along she had been using a Discount Brokers website and this is why they were bringing up the rebate issue. I thought long and hard about this email. My policy is never to cut my commissions. I have worked long and hard to get where I am and just because I make it look easy doesn't mean that it is. Here is my email response.

"Hi Mr. and Mrs Buyer,
Thanks for being for being open about your concerns. I fully understand your thought process. Many people feel the same way when dealing with Realtors. The lure of discount brokerages is not new and certainly can be enticing.
In hiring a full service Realtor, such as myself, you are hiring an individual with expertise in many different areas, not just in Calabasas. However; I live, work and play in Calabasas. My child goes to school here. I have seen all houses of interest on the market inside and out. I have also built solid relationships with many of the agents that work in Calabasas. Even if I don't know them directly, they know of me. In fact I am not just a real estate agent, I'm a licensed CA Real Estate Broker. I have also have received the GRI and SRES designation. The GRI is a year long real estate designation that less than 10% of agents have nationwide. The SRES designation means that I am an expert in helping Seniors find housing. The education is helpful, but my main motivation when I obtained the extra license and designations was that it helps me when negotiating for my clients. Let me explain.
When a (good) listing agent receives an offer, one of the first things they will do is see which agent wrote the offer. If it's an unknown agent from out of the area or a discount broker they know that they have the upper hand. We go so far as to Google other agents to see what type of negotiator and how much experience they have. When someone Googles me, it's becomes crystal clear that I know my stuff.
The letter that I sent over to the other agent with your XXXX Street offer did not say much, but the conversation that I had with the listing agent on the phone is what facilitated the seller's dropping the price $111,900 (nearly 6%) in the opening round of negotiations. He tried to use the list of comparable sales that he had and we literally went through his 20 comparable's one by one. I had them thrown out for one reason or another. Primarily because I had seen the house and knew that it was not a similar property because of amenities, area, year built, etc. This is my area of expertise, I know the houses, I know what they sold for, I even know the back story on many. I know if it was divorce, or another problem. I have that information because this is my business. The discount broker or an outside agent does not have access to this information.
When you hire an attorney, you have a choice to hire an inexperienced lawyer for $150 hour or a seasoned veteran who knows all the tricks and the players. For this you will pay much more. Many times you pay $600 an hour or more. But for your money you get knowledge and power. You can do things with a high powered attorney that you could never do with a new discount lawyer. The amount per hour is so much less than the time or money that the experienced lawyer saves you.
This is the same in real estate. If you would have used Discount Broker to submit this offer and negotiate this transaction, you would be almost acting alone. They just write the number you tell them to and send it over. Then when the counter comes back, you tell them what to write next. They will prepare a comparable market analysis, but it would have been exactly like the one that the listing agent from ABC Company provided. They wouldn't have been able to get a counter this low.
I educated the listing agent on the phone on the other properties. I told him what to tell his seller's. I gave him the ammunition to get the price reduction. It's all about market knowledge and understanding people. I am the best at this and this is why I do well.
Again, I understand your feelings, but in the long run I will protect your money and investment as if it were my own.
And just so you understand, once an offer is accepted and goes in to escrow there are more negotiations to come. The home inspection usually brings around more items that need to be negotiated. My Rolodex is full of experts that will help me to help you get accurate information on repairs and negotiate these repairs etc.
This business is not just what you know, but whom you know also.
In closing, life is like Texas hold ‘em, we are dealt cards, but how we play them is based on our skill level. It may look easy, but until you sit across from Phil Hellmuth you don't know what a real poker player is all about.
I hope you will reconsider now that you have all of the information. Please let me know how you'd like to proceed as the counter offer expires today at 5:00PM. "

And here is the response that I received back from Mr. Buyer.

" Life is like Texas Hold'em ... you not only play the game extremely well ... you are certainly one of the pro players I would back in my business!!
Thank you for taking the time to answer. Your answer is not only appreciated but it is accepted.
With that ... please provide our counter-offer at $1.81 million. "

As it turned out, we did get this offer accepted so there wouldn't have been any commission concession, but that was never the point. The point is that it pays to be confident and to explain to your clients exactly what it is that you do. There is a wonderful epilogue to this story. I received this email from Mr. Buyer a few days after the closing.

" Tracey -- Thanks so much. I simply cannot thank you enough for all your assistance. Mrs Buyer talked to many different people on the phone when we were looking for a Realtor for California ... and it was only after talking with you that she could finally say "I found the right person" ... and that was from a single conversation. "The right person" for us was someone who would care for our interests as if they were theirs ... would take Mrs. Buyer's picky tastes, which she is quite good at communicating over the phone, and convert that into the less than 1% of homes that actually qualify to meet those tastes ... would take us soup to nutz through the closing procedures in California, and never let us miss a deadline with a friendly nudging approach ... and would deal with my craziness in all regards, including my penny-pinching way of looking at life.
No one could ever be expected to excel in any of these areas ... and I still scratch my head at how you scored more than 100% in ALL of them for certain. We have never met anyone like you ...
When we are ready for the step up to a $10+ Million mansion (give me a few years to make my millions first) ... I don't care where it will be located ... or where you are located ... you simply must be the person to find it for us! I would be elated to be a reference to anyone that wants to use Tracey Thomas as their expert in finding a home ... and you can believe I will be a walking billboard to anyone I come across that is looking. "

Mr. and Mrs. Buyer moved in to their new home last weekend. I was there on moving day with my favorite cake and some gorgeous flowers for their patio. It all felt so good. Did I say how much I love Calabasas Relocations!!

Please call Tracey Thomas at (818) 652-2937 if you are planning a relocation to Calabasas, I would love to help make your move a smooth, pleasant experience.

The names, numbers and identifying information have been changed to protect the privacy of my clients but this story is very true. I did mention to my clients that I'd be blogging about their experience and they were all for it. They have given me permission to tell this story.

SOLD! SOLD! SOLD! Bring Your Investors! Handy Man Special In Van Nuys CA at only $250 a Square Foot

Tracey Thomas Calabasas, CA Real Estate (Keller Williams Realty) — Tue, 15 Jan 2008 03:09:53 -0600

Handyman Special Within Walking Distance of Lake Balboa

Location: Van Nuys West

INVESTOR / REHAB / HANDYMAN SPECIAL! Incredible Lake Balboa adjacent location. Only one block from the park and walking distance to two Golf Courses! This home features two fireplaces, a large back yard, and great bones, plus lots of retro details. Check the MLS, this is the lowest price per square foot you'll find! With a little TLC this home could be adorable. This is NOT a short sale, so no waiting for Bank approval.

Photo Gallery

Information

Contact Information

Tracey Thomas, GRI, SRES

(818) 652-2937

Pricing

Asking Price: $327,000

Flexibility: This won't last at this price!

Property Location

6506 Montgomery Avenue
Van Nuys, CA 91406

Features

Bedrooms: 2

Bathrooms: 2

Parking: Driveway

Year Built: 1948

Lot Size: 7,250

Garage Size: 2 Car Garage

School District: LAUSD

Square Footage: 1307

Agent Name: Tracey Thomas, GRI, SRES

Broker: Keller Williams Realty

MLS #: F1749799

Attributes

Appliances

Range/Oven

Full Refrigerator

Washer/Dryer

Sink Disposal

Interior Amenities

Fireplace

Hardwood Floors

Exterior Amenities

Patio

Fenced Yard

Grass Lawn

EQUAL HOUSING OPPORTUNITY

VFLYER ID: 1436138

The 12 Days of Lead Generation

Tracey Thomas Calabasas, CA Real Estate (Keller Williams Realty) — Thu, 20 Dec 2007 03:12:29 -0600

I thought it might be fun to make a video about real estate lead generation with a Christmas theme. Hopefully this will get you all in the spirit of the season or the spirit of lead generation, or better yet, BOTH!

We are all in the lead generation business. Following a plan and consistency will surly lead to more closed sides in 2008.

Twas The Night Before Christmas and The Yule Blog

Tracey Thomas Calabasas, CA Real Estate (Keller Williams Realty) — Sun, 16 Dec 2007 16:53:01 -0600

'Twas the night before Christmas, and all through Active Rain

Not a blogger was stirring, not even the ones in Spokane.

The For Sale signs were hung by the homes with great care,

In hopes that a cash buyer soon would be there.

The bloggers were nestled all snug in their beds,

While visions of closings danced in their heads.

And Johnathan in his new sneakers, and Matt in his cap,

Had just settled down for a power nap.

When out in the blogosphere there arose such a clatter,

Bob sprang from his office to see what was the matter.

Away to the window he flew like a flash,

Tore open the shutters and threw open the sash.

The lights that glowed from the Active Rain servers,

Illuminated the nodes, first California, then Florida and then even Denver's.

When, what to his wondering eyes should appear,

But a minivan, and eight motivated bloggers with cheer!

And a cute little driver, so lively and gnarly,

I knew in a moment it must be Lenn Harley.

More rapid than eagles her coursers they came,

And she whistled, and shouted, and called them by name;

"Now, Gary! now, Jason! now, Laurie and Colleen!

On, Bryant! on Sarah! on, Ricardo and Maureen!

To the top of your game! to the computers against the wall!

Now blog away! blog away! blog away all!"

As dry leads that before the wild housing boom fly,

When you meet with an obstacle, read CopyBlogger again, just try.

So powered by coffee, through the typing and corrections they flew,

They filled their blog with buyer stories and some for sellers too.

And then, in a twinkling, I heard a quick click.

The submitting of articles on each brilliant topic.

As I drew in my hand, and was turning around,

Through the front door buyers came, with a bound.

They were dressed all in fur, and started to squeal,

"We read your blog, we're here, we want a good deal!"

A bundle of cash they had flung on their back,

And they looked like investors just ready to attack.

Their eyes -- how they twinkled! their dimples how merry!

Their cheeks were like roses, and noses like a cherry!

Their droll little mouths were drawn up like a bow,

And they screamed, "I want a house and I've brought lots of dough!"

The stump of a pipe one held tight in his teeth,

"I want a house with a great front door for my wreath."

One had a broad face and a little round belly,

That shook, when he yelled, "Help me, I want a Deli."

Another was chubby and plump, a right jolly old elf,

And I laughed when he said , "I want a house all for myself."

The bloggers were happy as they searched MLS.

They knew that blogging was the key to success.

They spoke not a word, but went straight to their work,

They sold all the houses; and then turned with a smirk,

It's time to go home, take a nap and blog more,

We'll never stop just because our fingers are too sore!

Lenn sprang to her van, to the bloggers gave a whistle,

And away they all flew like the down of a thistle.

But I heard her exclaim, ere she drove out of sight,

"Merry Christmas Active Rainers and to all a good-night."