Friday, September 30, 2005

Wiki eHow

New Wiki eHow Article

How to buy a home in Southern California

Thursday, September 29, 2005

Open House this weekend Long Beach, CA

Open House This Weekend

Saturday and Sunday October 1st &

359 E Adair St.

Long Beach, Ca 90805

<Click for Mapquest>

for Directions

359 E. Adair St, Long Beach

  • 2 Bedroom

  • 1 Bath

  • 2 Car Garage

  • Spacious Patio with Private Spa

  • 6,289 Sq. Ft. Lot

  • Desireable and Affordable Long
    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

      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".

      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

      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 href=",1,3168927.story?ctrack=1&cset=true">Los
      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 href="">500
      W. Temple St., Los Angelehref="">s,
      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.