Springing back into gear is the open house world. People are starting to write offers in spite of the loan uncertianty.
My experience was unique. I got a lowball offer. This led to my own ramping up. I had this weekend to find an offer better than that. I literally pulled people out of cars on the block to come see the house I jumped up and down in the front lawn someone is trying to steal this house…Dont let it happen. They got in gear and found me a buyer. The best offer…mine won!
The one time venerable South bay is getting a small encroachment into the short sale arena. The average Realtor has always thought this was absolutely impossible. The conversations investors even thought about would make our Realtors shake their heads. “We’ll never get back to the 90’s they would say” as in 2005 people sold their million dollar homes and leased for 4000+ per month waiting for the big land grab. In 2006 we thought those idiots have lost 100K or more in equity. But the time is here. People are getting 100K off of homes purchased 2 years ago. The sellers whenever they sold can relive the word…Cash is king, actually being in a good position is king! Here we are folks. Step right up and steal a home right now. They are getting plentiful.
Big red tree trunks shoot mile high into the sky to say…. Stop! you have arrived! Now look up to the sky and enjoy the magnificent beauty of this place. You are blessed.
The redwoods in the earlydays had cars drive through
All this is so interesting and important. The rest of the world is trying to figure out if realtors are good bad indifferent wonderful whatever..However. We do want a consistant tool. This is our MLS. The question at hand is to have a uniform way of treating days on the market throughout all MLS areas. We have to reach agreement and punish by fines, ”cheaters” if they continue to trick the MLS system. Our current MLS has made a rule against cheating these days on the market. There are valid exceptions and can be worked through.
The unique thing going on in our MLS is that we are changing into a much larger pool. We took the lead from the N. California to merge and someday may have a statewide MLS. Our local 3 are joining with a larger group on Monday. A more unified result will give us power hopefully and clout to band together on everything from ethics to ideas of DOM and CDOM.
Hermosa Beach has a few condos that came up on the market but the limit of 417 will never get you into the beach.
As for status and cool if you are young the option to go to Gardena over the beach affects your dating scene BIG TIME.
Actually to move into the south bay area at all in any of the beach cities you need that extra 200K
Its also going to help Realtors sell properties near where we live an work. Many of us have had to leave our area and work in other places. We have to learn new markets and that is pretty cool.
Seriously it really is all about the money. If you can’t borrow it you just don’t get to move in and keep staying home with your parents.
Statistics aren’t out there but I am sure I know that every family has some member still there that just doesn’t have the funds to get out of the house. After all mom and pop bought it for what their car cost this year.
Our lender said this week was like the movie Wall Street. For the first time in the history of this lender it was like a free for all similar to a stock floor trading scene. There were such massive calls and emails that it glutted the system and they had to resort to faxing in rate locks. Furthermore….no 5 day grace period of having all your papers complete in the file. The file had to be complete to lock it in. Then they discovered the sad facts the five faxed in locks were only locked in3 of them. The other two were shut outside, no explanation, no I’m sorry, its just over to try another day.
She also explained the issue with the appraisers. If they check the box decreasing market or soft market then the review is nearly guaranteed and they will only loan against 95 and in the near future…maybe tomorrow 90% of the appraised value.
You see how that affects sellers agents who want the loan contingency removal? Some agents are just having to live with waiting till the loan funds to get that removal. This is a tough time.
Silly old bears…..didn’t everyone think Yippee!!! They cut the rates 3/4 %!! That is the other shoe hitting the floor. It is a short lived euphoria.That news is really for the credit cards, Heloc’s and the like. The real lowering of the rates will come when stocks are down. Thats when the giants with money will quickly and massivly move the money around. Speed is king, Cash is king and Fico is King.
One other noteworthy NOTE…no pun intended…is that California is still out in the cold with the FEDS 417K deal. California doesn’t even have doghouses at the beach for 417K.
South Bay area sold 3000 properties last year. South Bay in LA includes El Segundo, Manhattan Beach, Hermosa Beach, Redondo Beach and Torrance for this statistic.
So whats UP! We’re all waiting for the Super Bowl to be over and sell some REAL ESTATE! A lot of us are happy our husbands have jobs.
Mary’s blog has a street
Carol has a blog with numbers
John blogs with words
Kathleen blogs with her name
Kim lives and blogs in carmel
Lynne blogs as a pope
two realtors were touring a brokers open yesterday. The agents did not mention the owner was hom or even where he was. I was one of the two. We walked through ooh and aah over ever wonderful thing. We made a turn into a small hall and then saw a glass section on the floo. We howled with laughter on all the things the viewing section could be for. A fish pond gone wrong- a stupid idea someone will have to fix and that the owner/builder blew it and into the next room where..of course he sat.
There is an intersection for you. Politics and real estate. If it is anyones guess, that is the truth, its a guess. The question is this. Our leadership has produced several leaders in the democratic party that the average USA voter may not be ready for. Isn’t that always the case, the leaders lead and eventually the followers follow. The fact is right before our noses. Is the group that voted red across the USA and won in spite of losing- is that group of 49% ready for either of the Democratic leaders. I can hear the old south saying whatever they want to even today and you have to see Borat again to refresh your memory and imagine GENDER or RACE running for the President? What do you think? I even remember when it was questionable to be….Catholic!
The other shoe to drop is that as the Democrats fight out the battle all the Republicans have to do is wait…wait out the smearing bloodbath. They don’t have to take anyone out, the other party does it over and over proving the incompetance of the teams leaders. Team is a big word can you imagine what would happen to the lakers if they lost their leader and the players got to fight it out. Oops sorry that already happened. And no matter what party you are talking about- everyones theme is “Change” with the present economy call it ” Small Change” and call it too little and too late. But the Lakers are coming back just never quite the same. As for Real Estate, I’d love to see the next President “qualify” for the white house and pay the mortgage (shop for a good loan) and live a little in the real world. The Real Estate World. I have real compassion for the people who were tricked into the subprime bad loans, it is criminal and that is why they are cutting a little slack on the Federal Loan punisnment. Hooray! I hope the women win, I am tired of being treated subprime in Politics and Religion. Come on guys…..didn’t you all have a mother!
How the errant golf ball came into existence? It’s Really Rocket Science on earth
Rick Robitaille is my brother in law. I am wildly impressed that he is a Rocket Science Engineer. It has allowed many humorous moments with our family. My husband Bob is the twin brother of Pati his wife. So, ok get to the point. But he is a Rocket Scientist!! He is already proven to be smart. So even Rocket Scientists can have some trouble maneuvering through the California State Stack of Real Estate disclosures. Down here on earth we have a lot of stuff to cover that could be dangerous to your life health and well being,
So along comes the lawyer to speak to our office. Every item in this form came about due to a lawsuit. Of course, and they put it in such nice order too.
The likelihood of a golf ball coming into your private domain and the clear space above and below it that you own is rare if you are nowhere near any public or private Golf course. Still there are those who chip away on their own property. There is the lightning, earthquake fire and flood bunch of hazzards-act of God ( really?) and then there is the public stuff – in Texas shooting rounds of ammo off into the air on the 4th of July.
So when the golf ball flew into the living room window and broke the prized vase of Pati’s Aunt Nita there was a huge outcry of injustice. The rocket science professional was able to project the arc and landing with precise detail and low and behold…it was from the Catholic Church back area and the priests were just having some fun! Even when you do not expect a golf ball it can become errant!
Or maybe its just Science Fiction!
