buyers: Multiple Offers, Multiple Offers.
- 03/15/13 06:53 AM
I had offers out on 2 different properties on Tuesday. One was a small duplex in south Miracle Mile, one was a townhome in prime West Hollywood. Both had multiple offers. We came in as strong we could on both, and I actually felt somewhat hopeful about both. Ah, but neither was meant to be. The duplex, I don’t know how many offers they had, but we came in 9% over the asking price and still didn’t get it. Apparently there were offers HIGHER than ours that were all cash. Strike one. The West Hollywood townhome had 13 offers in total, … (0 comments)
Anyone who has watched the housing market in the last decade has noticed our market shift in many different ways. Well, surprise! It has shifted again. Just a few short years ago, the market was saturated with foreclosures and short sales, creating a buyers market and dragging home prices down. But what’s old is new again. Available inventory has reached it’s lowest point in years, and buyers are now fighting it out, trying to gain acceptance from sellers in what’s becoming a brutal marketplace. It also appears that cash is king, especially when coupled with 2-3 week escrow … (0 comments)
buyers: where is all the good inventory?
- 05/03/12 06:47 AM
A recent article in the Wall Street Journal declared that "bidding wars are back!" And speaking from experience, let me be the first to add, they aren't kidding. I have written offers on several properties over the past few weeks and there have been multiple offers on every single one. Great if you're a listing agent, not so much if you're representing buyers! As the article points out, it's not such much a re-inflation of the bubble, or buyers frothing at the mouth to buy, but more a lack of inventory. That too, I can attest to. If I could get … (1 comments)
buyers: rent or buy??
- 03/17/11 09:27 AM
The following is a reprint of my column that appeared in Frontiers In L.A. magazine on February 1st, 2011. I’ve been considering the possibility of putting my days as a renter behind me and joining the ranks of the homeowner, though I’m trying to figure out which makes more sense. I currently pay about $2,000/mo in rent (soon to go up). At what point is it more logical to quit renting and buy? —Ryan K., Santa Monica ·········· Hi Ryan, I get this question a lot. There’s no quick answer, and I would need some more information to give you a … (3 comments)
buyers: what to expect when you're expecting (to buy a home) [pt 3 of 3]
- 03/07/11 10:17 AM
The following is a reprint of my column that appeared in Frontiers In L.A. magazine on January 19th, 2011 The question I’ve spent the last two issues addressing is, what exactly does the process of buying a home look like? What should one expect? I’ve tried to really break it down for you in as much detail as possible while still keeping it somewhat brief. 8. Disclosures. In the last column, while on the subject of inspections and repairs, I briefly mentioned disclosures. The first week of the escrow period is also when you will receive, via your agent, a stack … (0 comments)
buyers: what to expect when you're expecting (to buy a home) [pt 2 of 3]
- 02/09/11 08:31 AM
The following is a reprint of my column that appeared in Frontiers In L.A. magazine on January 3rd, 2011 First, Happy New Year. I hope you had an amazing holiday. When we left off last time, we were taking a casual stroll through the home-buying process, and what exactly one can expect when purchasing a home. As of the last issue, we’ve found you a mortgage broker, got you pre-approved, found you a buyers agent you love, zeroed in on the home of your dreams and negotiated price and terms. This is where it all starts to get real! Now it’s … (0 comments)
buyers: what to expect when you're expecting (to buy a home) [pt 1 of 3]
- 01/30/11 10:31 AM
The following is a reprint of my column that appeared in Frontiers In L.A. magazine on December 20th, 2010. This is typically that time of year when many of us sit down, assess where we are, where we’re going and where we hope to be in another 365 days. As a Realtor, I know a lot of people who are really starting to get that this is the time to get into the market. And from an investment standpoint, I’m getting a lot of first-time buyers who are deciding that it’s now safe to park your money in the real estate … (0 comments)
buyers: Close It Down!
- 12/10/10 06:08 AM
The following is a reprint of my column that appeared in Frontiers In L.A. magazine on September 28th, 2010 I’m about to make my first real estate purchase in the next couple of months in the South Bay. Aside from the actual purchase price of the home, what costs and expenses should I be prepared for in closing costs? —Rebecca, Manhattan Beach Good question, Rebecca. Often buyers go into a purchase a bit blind to what they can expect as far as associated costs with purchasing a home. First, I’ll tell you what you don’t pay, which is your agent’s commission. … (3 comments)
buyers: Should I Consider Buying A Short-Sale?
- 11/04/10 08:14 AM
The following is a reprint of my column that appeared in Frontiers In L.A. magazine on August 30th, 2010 I’ve been looking for a home to buy for a few months now, with no luck. For now I’m looking on my own, but will hire a buyer’s agent when I get closer to finding what I want. A friend told me that I should check out short sales. What exactly is a short sale, and should I open myself up to considering them? —Sasha, Silver LakeOh Sasha. Sasha, Sasha, Sasha. Let me first address something you said in the first part … (0 comments)
buyers: Home In The Range
- 10/06/10 05:20 AM
The following is a reprint of my column that appeared in Frontiers In L.A. magazine on August 4th, 2010 I work with a lot of first-time buyers, in every price range. Some who can barely afford to get into the market, some who’ve suddenly hit it big and are dropping $2 million on their first home purchase. Regardless of price range though, I’m often faced with buyers who have unreal expectations of what they’re going to get for their money. “I thought it was a buyer’s market,” I’m often told by forlorn buyers with sad puppy dog eyes. Well, it is. … (0 comments)
buyers: Real Estate Q&A: Houses vs. Condos
- 09/27/10 08:56 AM
The following is a reprint of my column that appeared in Frontiers In L.A. magazine on August 4th, 2010 I’ve been approved for a purchase of up to $700,000. I’m torn between purchasing a condo or a house. One of the main things that I find attractive about condo living is the lack of upkeep as compared to a house, which I’m worried will always need something done to it. Also, though I like the idea of living in a house, in this neck of the woods I think I can get a nicer condo than I could a house. What, … (0 comments)
buyers: The Positive Economics Of Buying A Home (Or why NOW is the time to buy!)
- 08/26/10 05:35 PM
The following is a reprint of my column that appeared in Frontiers In L.A. magazine on July 22nd, 2010 Everyone seems to have an opinion on the current real estate market. Those opinions seem to differ based on who it’s coming from and what’s at stake for them. Those who aren’t anywhere near ready or able to buy love to smack-talk the market. They say everything is still way overpriced, and that things still haven’t stabilized yet. My neighbor’s brother’s church leader’s dentist’s cat said that anyone who buys now is crazy. However, those who have gotten their ducks in a … (1 comments)
buyers: HELPING YOUR AGENT HELP YOU: The secrets to being a good (and successful) buyer.
- 07/30/10 08:37 AM
The following is a reprint of my column that appeared in Frontiers In L.A. magazine on July 15th, 2010. As the real estate market continues to trudge through a economy, and more and more buyers decide now is the time to get off the fence, the ratio of buyers to sellers in my active client base has slowly tilted more towards buyers. And I love working with buyers. Helping someone realize the American dream (or a reasonable facsimile thereof) is a pretty awesome feeling. With the growing popularity of websites such as Redfin and Trulia, my buyers are more savvy than … (1 comments)
buyers: what recession? bel-air mansion sets new record for highest sale price in 2010...
- 06/11/10 08:17 AM
Well, it was hard to miss if you perused the front page of the LA Times this morning. Right there, lower left hand corner, was a headline that almost made me choke on my egg white omelet (yes, egg whites....summer's coming!). It screamed at me, "Bel-Air Mansion Fetches Highest Price This Year For U.S. Residence." Then I felt the chunks rising, as I read "The 48,000 sqft French Chateau exceeds the previous 2010 record of more than $46.5 million, although final price isn't released." Though we don't know the exact price just yet, seller Mohamed Hadid did confirm that the sales … (1 comments)
buyers: Ten Things First Time Homebuyers Should Know....
- 06/07/10 06:21 AM
The following is a reprint of my column that appeared in Frontiers In L.A. magazine on June 3rd, 2010. Anyone who hasn't been living under a rock for the past two years knows that the real estate market is down by 20-40% depending on area, and that this is the time for those who have been sitting on the fence to strike. There are TONS of deals out and prices are at roughly the same they were around 2004. Couple that with historically low interest rates and a $10,000 first time homebuyers credit, and you have all the workings of a … (1 comments)
buyers: FHA 3.5% down payment in jeopardy?
- 12/04/09 10:55 AM
The Los Angeles Times ran an article yesterday reporting that the Federal Housing Authority backed loans, which have become increasingly important in getting the real estate market moving again, may soon begin requiring more cash from buyers up front the the current 3.5% buyers pay as a down payment. This could certainly spell bad news for many buyers, as well as for sellers looking to get their properties moved, and the market in general. From what I can glean from the article, it doesn't seem especially likely that it's going to happen anytime soon. That said, as buyers continue to default … (1 comments)
buyers: a primer for first time buyers....
- 10/06/09 08:34 AM
Another worthy story in the LA Times last week that I wanted to get posted for clients on the fence, and Realtors who are welcome to re-post. As we ALL know, this is the time for first time buyers to take the plunge. Prices are down (possibly all the way before they start back up) and interest rates are insanely low. Factor in the $8,000 first time homebuyers credit, and you have the perfect storm for first time buyers ready to get into the market. This is a great article that will help consumers get an idea of what they need … (3 comments)
buyers: it's not a buyer's market everywhere....
- 05/04/09 11:50 AM
The Los Angeles Times ran a great article on Sunday that just reiterates the fact that a) real estate is an extremely LOCALIZED market, and b) it pays NOT to let the media get you all whipped up into a froth, because they often oversell a trend, and/or are a day late and a dollar short on reporting them. Many buyers have become very frustrated and disenchanted with the market right now after finding out that, despite what the broad strokes painted by the national media would indicate, sellers are for the most part NOT desperate, NOT having fire sales, and … (2 comments)
buyers: THIS is the time to buy
- 09/05/08 04:33 AM
Quote of the Day: "I would say that this is an opportunity that you only see every ten years. Don't wait for the very low end of the market. Once it's recognized, it's too late to go in at the low. Put in a low bid, go out shopping. There's lots of houses. If you've got good credit, you can get a mortgage. If you don't buy now, when will you buy?? THIS IS THE TIME TO BUY." - Barbara Corcoran, Today Show Real Estate Contributer, when asked by Billy Bush for one piece of advice for young buyers considering entering … (1 comments)
A home is not a home because of its room dimensions or the color of the walls. It is about how you feel when you walk through the front door. And the way you can instantly envision your life unfolding there.
This is about more than real estate. It is about your life and your dreams.
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