New Wiki eHow Article
How to buy a home in Southern California
Friday, September 30, 2005
Thursday, September 29, 2005
Open House this weekend Long Beach, CA
Open House This Weekend
Saturday and Sunday October 1st &
2nd.
359 E Adair St.
Long Beach, Ca 90805
<Click for Mapquest>
Call
562-896-5319 for Directions
562-896-5319 for Directions
Beach Neighborhood
Available for $440,000 Stop by to see it for yourself.
If you have any
questions or would like to schedule a private showing, please call John
Wall at 562-449-8421 or
e-mail john.wall1@century21.com
If you have any
questions or would like to schedule a private showing, please call John
Wall at 562-449-8421 or
e-mail john.wall1@century21.com
Tuesday, September 27, 2005
State of the Market Address
The median price in Long Beach, rose again since August 2004, up 20%
from this time last year.
Sales are up 7% over last year's figures also.
The median price according to CAR (California Association of Realtors)
is $568,890 up 5.2% from last month.
Agent's are nudging client's toward affordable areas they haven't
previously considered. Most have "champagne dreams" according to one of
my colleagues.
The Fed Chairman Alan Greenspan, issued warnings against risky
mortgages. Saying, if the housing market saw a decline, the borrowers
and lenders could be exposed to significant losses. The Fed also said,
"the vast majority of homeowners have a sizable equity cushion with
which to absorb a potential decline in house prices".
from this time last year.
Sales are up 7% over last year's figures also.
The median price according to CAR (California Association of Realtors)
is $568,890 up 5.2% from last month.
Agent's are nudging client's toward affordable areas they haven't
previously considered. Most have "champagne dreams" according to one of
my colleagues.
The Fed Chairman Alan Greenspan, issued warnings against risky
mortgages. Saying, if the housing market saw a decline, the borrowers
and lenders could be exposed to significant losses. The Fed also said,
"the vast majority of homeowners have a sizable equity cushion with
which to absorb a potential decline in house prices".
Monday, September 26, 2005
Discount brokers get what they deserve
The United States Department of Justice has filed an anti-trust lawsuit
against the National Association of Realtors saying, its practice
of limited access to its MLS service by discount real estate
brokers is discriminatory and anti-competitive.
This little game has been going on for a long time. Real estate is a
competitive and cooperative marketplace where its player's reputations
are almost as important as their skill. Most discount brokers don't
have great reputations so the other players just decide not to play
with them, at least not on the same court. My own experience is that
discount brokers (most, not all) are uncooperative and ineffective in
their practice of Real Estate. There is a trade off with these brokers
who greatly discount their services and entice sellers to sign contract
that basically absolve the broker of any wrong doing during the
transaction and shortly afterward. Essentially, less service + No
accountability = discount broker.
Just for a moment I would like to make a few points about this business
we call real estate. First, I do not sell homes. I coordinate the
transaction. Nothing I say or do is going to make your mind up about
whether or not a particular house might be the right on for you.
Second, whether I'm the listing or the selling agent (sometimes both)
there are a million little tasks that must be completed by each party
to the transaction in order for it to close. Those tasks are beyond the
scope of this rant but suffice to say each side is responsible for
making sure certain aspects are complete and accurate. Discount brokers
largely leave these tasks to their client (seller), which is a little
like a Brain Surgeon telling his patient he'll get a discount if the
patient does 90% of the surgery himself. For me this means that if I
represent buyers who are trying to buy a house listed by a discount
broker, I end up doing most if not all of the work - which of course
puts me in a situation where I'm really a double agent now. (dual
agencies are perfectly legal in California) which puts me at risk
because now instead of being RESPONSIBLE FOR the buyers side I'm also
RESPONSIBLE FOR THE SELLER TOO. Now - Do I get paid more for this
increased work load and liability? No! And that is precisely why I
refuse to work with discount brokers unless its on my terms.
Furthermore, discount brokers claim that by excluding their listings
from the mls, buyers are somehow hurt because they cannot see the
entire inventory of homes available in the area. You're damn right they
are! First off - Discount brokers don't generally represent buyers so
what do they care? Second, If I've got buyers who want a home in an
area and their are two options one is listed by HopeUSell, the other by
ReLAX. I'm going to highly recommend writing an offer on the ReLAX
listing. Its called risk management. ReLAX will be there tomorrow if
there is a problem and together we can work it out. They are PART OF
THE COOPERATIVE marketplace and understand the concept of working
together to reach a common goal of, closing the deal - not just getting
paid.
against the National Association of Realtors saying, its practice
of limited access to its MLS service by discount real estate
brokers is discriminatory and anti-competitive.
This little game has been going on for a long time. Real estate is a
competitive and cooperative marketplace where its player's reputations
are almost as important as their skill. Most discount brokers don't
have great reputations so the other players just decide not to play
with them, at least not on the same court. My own experience is that
discount brokers (most, not all) are uncooperative and ineffective in
their practice of Real Estate. There is a trade off with these brokers
who greatly discount their services and entice sellers to sign contract
that basically absolve the broker of any wrong doing during the
transaction and shortly afterward. Essentially, less service + No
accountability = discount broker.
Just for a moment I would like to make a few points about this business
we call real estate. First, I do not sell homes. I coordinate the
transaction. Nothing I say or do is going to make your mind up about
whether or not a particular house might be the right on for you.
Second, whether I'm the listing or the selling agent (sometimes both)
there are a million little tasks that must be completed by each party
to the transaction in order for it to close. Those tasks are beyond the
scope of this rant but suffice to say each side is responsible for
making sure certain aspects are complete and accurate. Discount brokers
largely leave these tasks to their client (seller), which is a little
like a Brain Surgeon telling his patient he'll get a discount if the
patient does 90% of the surgery himself. For me this means that if I
represent buyers who are trying to buy a house listed by a discount
broker, I end up doing most if not all of the work - which of course
puts me in a situation where I'm really a double agent now. (dual
agencies are perfectly legal in California) which puts me at risk
because now instead of being RESPONSIBLE FOR the buyers side I'm also
RESPONSIBLE FOR THE SELLER TOO. Now - Do I get paid more for this
increased work load and liability? No! And that is precisely why I
refuse to work with discount brokers unless its on my terms.
Furthermore, discount brokers claim that by excluding their listings
from the mls, buyers are somehow hurt because they cannot see the
entire inventory of homes available in the area. You're damn right they
are! First off - Discount brokers don't generally represent buyers so
what do they care? Second, If I've got buyers who want a home in an
area and their are two options one is listed by HopeUSell, the other by
ReLAX. I'm going to highly recommend writing an offer on the ReLAX
listing. Its called risk management. ReLAX will be there tomorrow if
there is a problem and together we can work it out. They are PART OF
THE COOPERATIVE marketplace and understand the concept of working
together to reach a common goal of, closing the deal - not just getting
paid.
Sunday, September 25, 2005
Housing bubble, sales slow.
A study conducted by Wharton
School of Business (at the University of Pennsylvania) from 1980 to
2004, found recent increases in home prices are not the result of a
real estate bubble. Increases in price where explained by basic
economic fundamentals such as high income growth and low interest
rates. No evidence was found that indicated home buyers were bidding up
prices bases on unrealistic expectations of future growth. (thats
because they read my posts)
Also according to a
Angeles Times report today, the median home price in California is
expected to increase by 10% in 2006. Sales are expected to reach
630,610 units, a loss of 2% from this time last year. There is a
continuing shortage in housing here in California which fuels the
double digit gain researchers are expecting.
Next Wednesday, September 28, 2005 - the Los Angeles County Board of
Real Estate will hold a real estate fair from 8:30 am to 1:30 pm at the
Kenneth Hahn Hall of Administration. The address is
W. Temple St., Los Angele
Ca. 90012. (links to mapquest). There are lots of good information at
these events and I encourage you to go. Just stay away from the
Realtors, they may swipe your wallet.
-------------------
A reminder, I will still donate 51% of all earned commission to the
victims of Hurricane Katrina - if you employ me before the end of the
year. Call or e-mail
for details.
School of Business (at the University of Pennsylvania) from 1980 to
2004, found recent increases in home prices are not the result of a
real estate bubble. Increases in price where explained by basic
economic fundamentals such as high income growth and low interest
rates. No evidence was found that indicated home buyers were bidding up
prices bases on unrealistic expectations of future growth. (thats
because they read my posts)
Also according to a
Angeles Times report today, the median home price in California is
expected to increase by 10% in 2006. Sales are expected to reach
630,610 units, a loss of 2% from this time last year. There is a
continuing shortage in housing here in California which fuels the
double digit gain researchers are expecting.
Next Wednesday, September 28, 2005 - the Los Angeles County Board of
Real Estate will hold a real estate fair from 8:30 am to 1:30 pm at the
Kenneth Hahn Hall of Administration. The address is
W. Temple St., Los Angele
Ca. 90012. (links to mapquest). There are lots of good information at
these events and I encourage you to go. Just stay away from the
Realtors, they may swipe your wallet.
-------------------
A reminder, I will still donate 51% of all earned commission to the
victims of Hurricane Katrina - if you employ me before the end of the
year. Call or e-mail
for details.
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