How Do I select A Real Estate Agent?

How Do I Select A Real Estate Agent?® "My Realtor® doesn't seem to know much more than I do!" I'm hearing this one quite a bit lately from people who are not having a good experience with their agent. While I cannot explain the sudden increase, I think it stems from not knowing how to go about selecting an agent. Most buyers and sellers have no idea how to go about selecting an agent. Strange, if you really think about it, considering they're hiring someone to perform one of the single most important jobs possibly in their life to that point. It's also a job that comes with quite a … [Read more...]

Short Sale vs. Foreclosure In Newport Beach CA

Short Sale vs. Foreclosure In Newport Beach CA One of the toughest decisions facing homeowners in Newport Beach these days is whether or not to do a short sale. Most homeowners don’t understand the process, but what’s even scarier is that most real estates don’t either. Many agents tend to shy away from short sales because they don’t understand how they work. #1 – SELECT THE RIGHT AGENT Like all other professions, real estate agents are not created equally! A Newport Beach short sale is a very complicated and arduous type of transaction, and most agents just don’t not … [Read more...]

Measure Twice, Cut Once! – Things My Father Taught Me, Part I

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When I was a boy, I used to watch my father on weekends at his work bench in our garage. I always wanted to help, and as I got older, he let me. Nothing dangerous, but I got pretty good with a hammer and nails. Eventually, in my early teens, I was actually pretty handy and could build just about anything. Would you buy my creations from Crate and Barrel? Probably not. But I still have some book shelves and an entertainment center that I built over 20 years ago. And guess what? They are in almost the exact same condition! My dad taught me a lot about the type of materials you use for certain … [Read more...]

How Do I Start a Short Sale In Laguna Beach CA

One of the toughest decisions facing homeowners in Laguna Beach these days is whether or not to do a short sale. Most homeowners don’t understand the process, but what’s even scarier is that most real estates don’t either. Many agents tend to shy away from short sales because they don’t understand how they work. #1 – SELECT THE RIGHT AGENT Like all other professions, real estate agents are not created equally! A Laguna Beach short sale is a very complicated and arduous type of transaction, and most agents just don’t not where to begin. As a seller, YOU MUST SELECT YOUR … [Read more...]

The GREATEST IDEA That Will Never, Ever Happen!

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The Greatest Idea That Will Never, Ever Happen! (nor should it)   So I'm getting ready to leave my office on Friday, and an agent walks in and says, "Got a minute?" I like the guy, never had any issues with him, so I was a bit intrigued. And even though I was in a bit of a hurry to leave, I said, "Sure, what's on your mind?" I can't tell you word for word what came next, but I can paraphrase it. So here's the gist... AGENT -"I had the greatest idea! Imagine this... you go down to the foreclosure auctions (Trustee Sale), and you get everyone together who is looking to buy … [Read more...]

Can I Do a Short Sale Without A Real Estate Agent?

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I got this question today, and my first reaction was, "Why would you want to?" I'll get into the technicalities of this answer in a second, but here's what struck me. After speaking with this lady for a while, I came to find out that she was concerned about the commission. She was unaware that in a Short Sale, the seller does not pay the commission. I asked her who gave her that information, and... wait for it... Her FRIEND, who has a real estate license told her! "Did you tell you friend that it was going to be a Short Sale and not an equity sale?" I said. "Oh yes, I told him. … [Read more...]

What’s the Difference Between a Short Sale and an REO, or Bank-Owned Property?

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What's the Difference Between a Short Sale and an REO, or Bank-Owned Property? This is a great blog from Karen Fiddler, and she points out many of the same issues and dilemmas that I am constantly explaining to my clients. These types of "distressed sales" can be tricky, and you need an agent with experience in these types of sale who can help you navigate all the in's and out's while simultaneously dealing with the ever changing market conditions! Via Karen Fiddler Broker/Realtor (The Fiddler Realty Team/eVantage Real Estate): Banks Lenders Short Sale Lenders Bank … [Read more...]

Real Estate 101… Buyer’s Market vs. Seller’s Market

A friend of mine asked me yesterday if we are really in a buyer’s market, to which I responded, “Why do you ask?” “For starters, I’ve submitted offers on twelve properties in the last three months, and still nothing has been accepted!” she replied. “So how can this be a buyer’s market when seller’s are overwhelmed with offers?” This is a great question and deserves some explaining. I’m going to propose that we are actually in BOTH a buyer’s market and a seller’s market currently, an odd phenomenon in deed. Now before everyone starts freaking out and screaming … [Read more...]

How Will I Know When We’ve Hit the Bottom?

You won’t. I could actually stop there, but since that’s not an entirely accurate statement, let’s examine the question. What defines a “bottom”? Is it the number of homes sold? Is it the price homes are selling for? Or is it the number of homes on the market? These are all great questions, but you’ll find that the answers aren’t always clear. If we’re going to judge the bottom of the real estate market by the number of homes sold, then the bottom is behind us. We have seen year-over-year gains for several months now in our local market, and many markets throughout the … [Read more...]

Should I Let My Home Go into Foreclosure?

I get this one quite often, which is a bit scary, because it begs the next question… how many people are considering this option? In order to answer this question, you must first understand the foreclosure process. I can’t tell you how it works in every state since certain states have a “judicial foreclosure” process while other states are “non-judicial”, such as CA. So how does a Foreclosure work in California? For those who don’t know what a foreclosure is, I’ll give you the brief run down. For a more lengthy description, shoot me an email. After one missed payment, … [Read more...]