california: San Jose Cambrian Short Sales - Forensic Loan Audit Scams
- 01/21/11 08:26 PM
A new law in California went into effect on January 1, 2011 that added forensic and other loan audit activity to the definition of "Foreclosure Consultant" making forensic loan auditors subject to strict limitations and a requirement to post a $100,000 surety bond. "... any person who offers to arrange, or attempts to arrange, an audit of any loan obligation secured by a lien on a residence in foreclosure (unless that person is exempt under the provisions of section 2945.1 (b) of the California Civil Code – exemptions exist for California attorneys engaged in the practice of law and California real … (1 comments)
california: FSBO Diary: “I Put House for Sale to Make Wife Clean Up”
- 02/26/07 05:08 AM
Sundays are a busy day for me touring FSBO open houses. This is an excellent opportunity to determine if we can work together in the sale of their property. My next stop is a townhouse in Mountain View, CA. The Craigslist ad was fresh for this weekend. I knocked on the door and was greeted by a shoeless man. He motioned me to a stool where I could sit and remove my shoes. I did and he walked into the house to talk with other people sitting on the living room sofa. I tried to listen in on the conversation … (6 comments)
california: Pricing Your House To Sell - #8 in a Series for the FSBO
- 01/17/07 05:29 PM
An axiom in real estate: all objections about a property can be overcome by adjustment of the price. Here are some issues to consider when deciding on a setting a selling price … Price is NOT How much money you need out of the sale of the propertyWhat your neighbor’s house sold for What you think the house should be worthWhat the house appraised for XX months ago during refinancingWhat your friends and family say it is worthWhat is stated on your property tax billWhat Zillow and similar web sites say it is worth Price is what an informed buyer is willing … (2 comments)
california: People, Proceses, Technology -- #7 in a Series for the FSBO
- 01/17/07 05:39 AM
The are many people and organizations the get involved in a residential real estate transaction. Each provides a part of the process. Some form of technology may be available to ease it's particular piece of the puzzle. A successful real estate transaction is very dependent on all these "moving parts" working well and in cooperation together. If the people and processes don't work well together, no amount of technology can bail you out and the transaction can fail to close. Here are some of the more common people, processes and technology used to successfully complete a real estate transaction ... … (4 comments)
california: Basic Project Management for the FSBO - #6 in a Series for the FSBO
- 01/16/07 02:01 PM
Project management principles can be applied to the home sale process to provide a structured process for visualizing the complexities of the task to be undertaken. One of the fundamental tools of project management is the Work Breakdown Structure or WBS. The WBS is a visual representation of the major units of work in a project. A real estate transaction has known steps along the way. Here is a WBS for a typical residential real estate transaction ...
Across the first row of the WBS, we have 5 major activities of the transaction process. Down each column are some of the … (3 comments)
california: FSBO SWOT Analysis - #5 in a Series for the FSBO
- 01/16/07 01:22 PM
SWOT Analysis: Strengths, Weaknesses, Opportunities, Threats The SWOT Analysis is a strategic planning and decision making tool you can use to evaluate your Strengths, Weaknesses, Opportunities, and Threats involved in the project of selling your house yourself. In this example, I will use the table to illustrate some of the issues the FSBO should consider about selling their home themselves. Every SWOT Analysis is subjective by nature, as no two people are identical. We all have our own abilities we bring to the task at hand. Use this table only as a guide to analyzing your own abilities. More information can be … (2 comments)
california: Commodity Real Estate Services - #3 in a Series for the FSBO
- 01/11/07 05:30 PM
Any real estate agent working for a broker/member of the Multiple Listing Service (MLS) can provide you with commodity services. The Internet has played a major role in commoditizing these services and given the FSBO easy access and use. Commoditized services are mostly those services that are “passive”, i.e. you sign up for the service, input your data, then WAIT for a consumer to find your home. Internet sites, by their nature, wait for you to find out about them and wait for you to visit them. Almost all of these services are readily available to you as a FSBO. … (0 comments)
california: A Guide To Some People You May Meet As A FSBO - #2 in a Series for the FSBO
- 01/11/07 05:18 PM
In addition to buyers (some qualified, some not) and your neighbors stopping by to see your freshly marketed FSBO house, there some other types of visitors for which you should prepare. 1. Real Estate Agents Real estate agents will be calling you due the sobering facts that 85% of all home sales go through real estate agents, 10% of FSBO sales are between people with close relationships such as friends and family, and the remaining 5% of FSBO’s sell by themselves on the open market. “Old School” agents will call and tell you about all the services they provide. As you listen to … (3 comments)
california: Dear For Sale By Owner - First in a Series for the FSBO
- 01/11/07 04:59 PM
Dear For Sale By Owner, I commend you on taking upon yourself the enormous task of selling the most valuable asset you own: your house. Selling or buying a home is always a challenging experience. The process requires a team of people and numerous regulatory compliance issues imposed by the State of California, its counties and many local cities. The prime motivation people try to sell their homes themselves is to not pay the fee full-service real estate agents charge for their services. Many of those services have become commoditized due to the Internet, so it is understandable that you … (1 comments)
california: California Home Loan Subsidy Programs
- 10/11/06 04:22 AM
There are some very interesting loan subsidy programs for first time home buyers offered by the California Housing Finance Agency or CalHFA. Many of the programs have interest rates that are about 1% below current market rates for 30 year fixed loans. There is also a Downpayment Assistance Program where they will provide up to 3% of the sale price or appraised value for use as downpayment. One program that I found interesting is the Extra Credit Teacher Home Pruchase Program. This subsidy is targeted at teachers, administrators and classified staff working in high priority schools and who make a commitment to … (3 comments)
california: Blackberry or SmartPhone/PDA - Which One Do You Use (If Either At All)?
- 10/03/06 01:53 PM
I'm considering taking the plunge and getting either a Blackberry or SmartPhone/PDA. At minimum, I want access to my several email Internet accounts and be able to browse the web. Both will do that. The Blackberry is less expensive to purchase. SmatrPhones have a few extra toys that might be fun. Which of these tools do you use and what lead you to choose one type over the other? What do you recommend? … (11 comments)
california: Hungry Agents: Bid To Give Away Your Commission!
- 10/03/06 06:32 AM
Now buyers agents can bid on how much of their commission they are willing to give away in order to get business. The web site is HungryAgents.com. There is more info in the Inman News article too. I don't know about you, but I have no intention of signing up with this web site. I don't see how giving away commission is a long term way to make a living. Maybe the people who do sign up expect to make it up in volume or referrals? What do you think about this?
… (19 comments)
california: Build It Green Home Tour of Santa Clara County A Success
- 10/02/06 06:21 PM
On Sunday 10/1/2006, the Build It Green Home Tour of Santa Clara County was held. There were 11 home open to the public. Some were new construction, others were remodels or complete rebuilds. The homes were located 2 in Palo Alto -- 2 in Los Altos Hills1 in Cupertino -- 1 in Santa Clara1 in Campbell -- 1 in Los Gatos3 in San JoseThe homes were proof that excellent architecture and green building have entered the mainstream in local home construction. One residence in Palo Alto was rebuilt using much of the same material that was originally installed. This feat was done … (1 comments)
california: Property Tax Sale Infomercials - How Likely Is Success?
- 09/26/06 07:30 PM
Surfing through the umpteen zillion channels of the local calbe system one very late evening, I came across the same infomercial about a guy selling a "course" on how to buy real estate at property tax sales. Photos of homes with prices under $500 were shown on the screen. "It's legal in 50 states" was constantly repeated by the "guest" while being interviewed by two "reporters". That got me thinking: what is the likelyhood that could happen in my market where land values are at least $1M per acre and usually much more? In California, in order for a tax sale to … (8 comments)
california: RANT: Education Is Key To Agent Standards
- 09/15/06 11:15 AM
As a new member of the Active Rain community, I have been absorbing the wealth of knowledge and experience people freely share here. There is benefit for both consumers as well as real estate professionals. The post by Kristal Kraft on REALTOR Standards resonated with me and compelled comment: I agree 100% with you Kristal!! Here in California we have three levels of real estate licensing: Conditional Salesperson, Salesperson, and Broker. This 3-tier stratification and low barrier to entry contributes to some of the negative perception that real estate agents don’t know what they are doing. The Conditional Salesperson license provides … (2 comments)
A new law in California went into effect on January 1, 2011 that added forensic and other loan audit activity to the definition of "Foreclosure Consultant" making forensic loan auditors subject to strict limitations and a requirement to post a $100,000 surety bond.
;)
;)
