Los Angeles Real Estate Lament

Los Angeles Real Estate Lament

I hesitate to make a list
Of all the countless deals I’ve missed:
Bonanzas that were in my grip-
I watched them through my fingers slip.
The windfalls, which I should have bought
Were lost because I over-thought:
I thought of this, I thought of that;
I could have sworn I smelled a rat.
And while I thought things twice,
Another bought them at the price.

It seems I always hesitate,
Then make my mind up much too late.
A very cautious man I am.

And that is why I never buy.

How Nassau and how Suffolk grew!
North Jersey! Staten Island, too!
While others culled those sprawling farms
And welcomed deals with open arms-
A corner here, ten acres there,
Compounding values year by year.
I chose to think, and as I thought,
They bought the deals I…

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Struggling to get your REO-Foreclosure-Bank Owned property offer accepted? At least you aren't alone...

This is a funny video poking fun at the frusturations felt by many buyers and their agents during this "Unbelieveable, Once-in-a-Lifetime Buyers Market"... yeah right with the internet on the side of the sellers, great deals are no secret.  Everyone can find the deals, closing a great deal only happens from making lots of offers and having a little luck...

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Top 10 ways to know if you are dealing with a Reputable Real Estate Service Company Online

Unfortunately in the real world, there are bad people and unethical business owners.  In tough economic times, laziness and ethical absence can combine with desperation and lead to some really ugly situations.  The Loan Modification industry is a perfect example of a service that should have helped but went drastically wrong some where.

Here are the top 10 steps you can take to try and avoid getting burnt by forming any sort of relationship with a Real Estate Service related business online.

1. Look for verifiable Contact Information:
   • Does the company provide their physical address?  Can you verify the address for their legal entity with the secretary of state?  (i.e.- if the business is in California they should be registered with the California…

2906 Views, 2 Comments

Electronic Signatures for Los Angeles Real Estate Transactions using DocuSign Technology

What is DocuSign?
Anyone who has purchased a home in Los Angeles can tell you about the crazy amount of paperwork involved. Purchasing Los Angeles Real Estate can be a great investment but the paperwork part and coordinating time schedules for signings, fighting through traffic and traveling to and from a realtor’s office after work to sign documents…not so great. Well with DocuSign technology, the days of physically signing a 2-inch stack of papers and wasting time and gas driving to and from the realtor’s office are fast fading. DocuSign, a state of the art electronic signing technology in use since 2004, is now available and has been already used in hundreds of thousands of transactions. Instead of commuting back and forth to sign papers, you can now…

3241 Views, 2 Comments

Looking to buy Foreclosures in Los Angeles County?

Search for property in pre-foreclosure, going to auction at the courthouse soon, or bank owned in Los Angeles or Orange County on IETRealEstate.com 

http://www.ietrealestate.com/foreclosures.php

Want more information on how to buy these properties or what to be aware of when purchasing this type of property?  If so contact an IET Real Estate Agent.

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Condos owners now required to pay HOA dues and inside the walls insurance policy

HO-6 Insurance Requirements for Condominium and PUD Properties 

HO-6-CONDOMINIUM UNIT OWNERS COVERAGE

Here is an excerpt from a memo sent to us by one of our biggest lenders: 

Borrowers must show evidence of hazard insurance coverage for all condominium projects with attached units, including two- to four- unit projects, that covers fixtures, equipment, and other personal property inside individual units if they will be financed by the mortgage.  Borrowers must show evidence of a “walls-in” coverage policy (commonly known as HO-6 policy) unless they can document that the master policy provides the same interior unit coverage. The master policy must include replacement of improvements and betterment coverage to cover any improvements that the…

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Free Rental Survey Data for Greater Los Angeles Area

Greater Los Angeles Area Rental Values

Investors:

Thinking of buying an investment property and want to know what current market rents are?

Landlords:

Want to know if your maximizing the value of your property?

Renters:

Want to know if your paying fair market value for your unit?

Here is a Zilpy link, bookmark it, its a cool service

http://www.zilpy.com

Los Angeles - Craigslist is a good source too but too many scam artists on that site for my tastes.

5708 Views, 2 Comments

Free Directory Assistance from Google

Never pay for Directory Assitance on your cell phone again.

I know most people have smart phones but it can be time consuming to look up info on the internet from a PDA.

Google has a free 411 service set up: GOOG-411 

I've tried it, it works well.  Its a completely automated system and you don't get to speak to a live person so if the system doesn't understand you or there is too much back ground noise you may not get good results.  I tested it with a "roebucks juice" in "torrance,ca" query and the results were accurate.

 To apply this to real estate, it may be handy next time you need a local service contractor, i.e.- plumber, electrician, roofer, termite, carpenter, window repair etc., etc.

3420 Views, 2 Comments

HOA Assistance Program for First Time Homebuyers in South LA & North Orange County

HOA Assistance Program offered through PWR

HOA Assistance program offered through my local association of realtors (Pacific West Association of Realtors)

Program offered through Pacific West Association of Realtors for homeowners in Southern LA and Northern Orange counties.  Funds for this program are from a charity account setup by fellow Realtors and a grant from a California Association of Realtors fund.  The program will pay up to $250/month & up to $3000 per year to the Home Owners Association for the qualifying borrower.  This program has helped over 30 families since its inception in 2007

Be sure to check with our office for qualifying guidelines and available funds before applying.

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Time running out on $10,000 tax credit for CA new construction homebuyers

Did you know that the state of California is offering a $10,000 tax credit for homebuyers buying new construction?

Well time is running out on this great opportunity.

For more information go to CA Franchise Tax Board website at:

http://www.ftb.ca.gov/individuals/New_home_Credit.shtml

Update: as of July 3rd, 2009 the state has run out of funds for this program.  Sometimes when sales people are telling you that you'd have to "Act Now" its actually true....

1926 Views, 2 Comments