Andi Grant's Blog - Everyday Real Estate with a Twist

A REALTOR Speaks Out on the "Realtor Speak" Nonsense!

Kate Elim, a Realtor colleague in VA, penned a great response post to an inspector who wrote extremely disparaging remarks slamming real estate agents as he gave what I feel were VERY harmful misguided translations to buyers on what he deemed was  "Realtor speak" when a Realtor (the buyer selected) offers a preferred vendor list or suggestions. 

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WHAT HE SAID:

“Here’s a list of 3 inspectors”

Really means: All 3 have been carefully screened and none of them will find any problems with the home.

WHAT I MEAN IN "REALTOR SPEAK":  

I TRUST THESE PEOPLE WITH MY OWN FAMILY AND FRIENDS BECAUSE I HAVE REFERRED THEM TO THOSE WHO I WANT THE ABSOLUTE BEST FOR.  IF THEY ARE GOOD ENOUGH FOR THEM, THEY ARE DARN SURE GOOD ENOUGH FOR YOU!

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WHAT HE SAID:

“We’ve been referring this inspector for years”
Really means: He is 65 years old, going blind, can’t climb a ladder and can’t fit into a crawlspace.

WHAT I MEAN IN "REALTOR SPEAK":   

THIS INSPECTOR HAS DISCOVERED EXISTING ISSUES THAT WERE NOT DISCOVERED IN PREVIOUS HOME SALES IN MULTIPLE DEALS I'VE HAD - HE'S THAT GOOD AND I HOPE HE IS AROUND FOR AS LONG AS HE CAN CLIMB LADDERS AND CAN SEE!  IF HE EVER GETS TO OLD TO CLIMB, WALK AND CRAWL, HOPEFULLY THEY WILL HAVE CREATED A SPECIAL HOVEROUND BY THEN THAT CAN HELP HIM TO!

HE GOES THE EXTRA MILE AND HAS EVEN REINSPECTED FOR BUYER WALK-THRU FOR FREE EVEN THOUGH HE COULD LIVE 16 - 25 MILES AWAY FROM SUBJECT PROPERTY, JUST TO MAKE SURE HOME REPAIRS THAT AREN'T VISIBLE TO YOU AND I HAVE BEEN REPAIRED!  HE IS THAT COMMITTED!

I'D RATHER HEAR THINGS WRONG FROM HIM THAN FROM YOU THE BUYER LATER, SOMEONE WHO I HOPE WILL TRULY LOVE THEIR HOME AND CONTINUE TO SEE THE VALUE IN IT FOR MANY YEARS, RESULTING IN THEM ADDING ME TO THEIR PREFERRED RECOMMENDATION LIST.   ANYONE WHO HAS EVER BEEN REFERRED BY SOMEONE INCLUDING THIS INSPECTOR WAS A PREFERRED REFERRAL TO ANYONE ELSE THAT PERSON KNEW HAS KNOWN OR EVER READ ABOUT. 

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WHAT HE SAID:

“Here is our preferred vendors list, you can find an inspector on here”
Really means: Everyone on it has paid money to be on the list. 

REBUTTAL RESPONSE:  

THIS IS SUCH A BLATANTLY IRRESPONSIBLE STATEMENT AND MOST CERTAINLY NOT THE STANDARD OR NORM!  ANYONE ON MY LIST IS THERE BECAUSE I TRUST THEM!   I DO NOT BELIEVE IN ANYONE PAYING ME TO BE ONE OF MY PREFERRED CHOICES.  NO ONE CONTROLS MY STRINGS, I AM NO ONE'S PUPPET.  I HAVE NO RECIPROCAL BACKSCRATCHES OR OBLIGATIONS OWED TO ANYONE! *ALSO REFER TO FIRST ANSWER*

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WHAT HE SAID:

“This inspector can schedule an inspection on a day’s notice”
Really means: He is sleeping with the agent. 

^---- WHAT TYPE OF PERSON THAT CALLS THEMSELVES A PROFESSIONAL WOULD WRITE THIS?  Utterly irresponsible, slandeorus and simply unwise.

MY REBUTTAL RESPONSE "REALTOR SPEAK' NOT NEEDED:  A HOME INSPECTOR CAN SCHEDULE 3 HOMES PER DAY DEPENDING ON THE SEASON AND HOW MANY HOURS OF SUNLIGHT THEY HAVE.  Are you telling me every inspector has filled 3 inspection slots every day in this slower market and is so busy they don't have room to squeeze one in?  Is the person who wrote that statement performing 8 hour long inspections so that he could only book one per day?

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Buyers come to experienced professionals for their expertise and their resources!  EVERY buyer has a choice.  They can go with whomever they choose.  My only request is that the person they choose be experienced with the type of purchase they will most likely be engaged in, and has a track record for closing complicated deals as first timehome buyer and government programs notoriously are.  I am most certainly going to also give them a list of my "preferred" lenders, and inspectors and detail the strengths of each.  People who again I trust with my own family members and friends.  I believe in giving buyers choices and throwing mine into the pot.  Whoever they choose after that is...wait for it... is their CHOICE. 

I SAY WHAT I MEAN AND I MEAN WHAT I SAY.  NO NEED FOR THIRD PARTY TRANSLATIONS!

Long Beach Market Report - Long Beach Home Sales Report - November 2011  

The Long Beach Real Estate Market is still looking very good in terms of the number of Long Beach Single Family Homes sold for early winter.  Only 19 less homes sold than the previous month as people started to settle into their fall schedules, which is not typical as most people during the holidays are less inclined to be uprooted for showings or to move. So although Long Beach will generally see a activity drop-off, it looks like many first-time home buyers and repeat home buyers are taking advantage of the Long Beach Market slowdown in these holiday months by submitting offers to Long Beach home sellers who are eager to jumpstart the new year with the hope of a pending sale and escrow. 

645 ACTIVE (Long Beach Homes Currently for Sale)  Hang in there!

465 PENDING (Long Beach Homes with Accepted offers or currently in Escrow) You're almost at the finish line!

163 SOLDS (Long Beach Homes Sold as of the end of November 2011)  CONGRATULATIONS TO THE LUCKY BUYERS AND SELLERS!  There were also 18 more homes sold this November 2011 than in November 2010*

LONG BEACH HOMES SALES REPORT 

LONG BEACH MARKET REPORT AND TREND FALL AND WINTER 2011

*All Sales Data courtesy of CARETS MLS.  Long Beach Market Report originally posted at FirstTimeHomeBuyerRealestate.com

HOME BUYERS:  Search LONG BEACH HOMES today! 

HOME SELLERS:  FREE CMA - HOME MARKET VALUATION to get your home priced right!

Long Beach Ocean Blvd Condos for Sale

As of 12/05/11 Long Beach is currently offering 69 Ocean Blvd condos for sale ranging in price from $124,000 (perfect for first time home buyers) to just over a million dollars for those looking for luxury condo living. If you are looking for cozy, swanky, oceanfront, city skyline, Queen Mary views, it's all available!  Here are just a few Ocean Condos for Sale in Long Beach as of 12/05/11:

NOTE:  If any of the condos have been sold since the date of this article, feel free to start a new Ocean Blvd Condo Search   

 

2105 E. Ocean Blvd. 4, Long Beach CALIFORNIA 90803

Price: $124,900

Historic Bluff Park unit located in a Mid Century Modern Building is in move-in condition. This is a ... View Details  View Photo Gallery (13)  MLS# P801374

MLS: CARETS

Bedrooms: 1

Bathrooms: 1 

Square Ft.: 680

Listing courtesy of Star Real Estate / Seacliff  

 

 

 

388 E. Ocean Blvd. 702, Long Beach, CALIFORNIA 90802

Price: $240,000

HAFA Approval from the first lender at $240,000! Please submit offers at or above list price. There ...View Details  View Photo Gallery (10)  MLS# S619375

MLS: CARETS

Bedrooms: 1

Bathrooms: 1 

Square Ft.: 600

Listing courtesy of Doma Properties, Inc  

 

 

 

 

 

4265 E Ocean Blvd,  Long Beach,  CALIFORNIA 90803

Price: $795,000

Incredible Ocean View condo located in prestigious Belmont Shore. Ocean Views from all floors. No ex ... View Details  View Photo Gallery (21)  MLS# P782279

MLS: CARETS

Bedrooms: 2

Bathrooms: 3 

Square Ft.: 2000

Listing courtesy of Century 21 Beachside 

 

 

 

850 E Ocean Blvd 1507,  Long Beach,  CALIFORNIA 90802

Price: $985,000

Come home every day to your Castle in the sky!This is one of the most amazing Penthouse residences t ...View Details  View Photo Gallery (25) 

MLS# P777532; MLS: CARETS

Bedrooms: 2

Bathrooms: 3 and Partial Baths: 1

Square Ft.: 1988

Listing courtesy of ReMax College Park Realty

 

 

 

 

TO SEE ALL OCEAN BLVD CONDOS FOR SALE IN LONG BEACH  

TO SEE ALL LONG BEACH CONDOS FOR SALE

 

 

 The information being provided by CARETS® is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. Any information relating to property referenced on this web site comes from the Internet Data Exchange (IDX) program of the CARETS® MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns the web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by SoCalMLS® and/or CARETS® and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information Copyright © 2011 CARETS® MLS. All Rights Reserved. Certain information contained herein is derived from information which is the licensed property of, and copyrighted by CARETS® MLS. ® Copyright © 2011 CARETS®. All Rights Reserved. Data updated Monday, December 5th, 2011

 

Belmont Heights Long Beach Condos for Sale $300K and above

Who is the person who buys a condo for sale in Belmont Heights?   Is it the single person or couple who's tired of renting and has decided to get their feet wet at this "home ownership" thing without having all of the major upkeep responsibilities that a Belmont Single family Home would have?  Or maybe it's the empty-nester who has finally decided to deconstruct the mini-shrines their grown kid's bedrooms represent.  Or then there's the current homeowner who has "been there, done that" with the suburbia thing and is now looking forward to being closer to the action.  Buying a condo for sale in Belmont Heights can pretty much cover all of the aforementioned.  Belmont Heights has condos that are either nestled in tranquil residential areas, within a few minutes walk to the beach, or close to the action of nightclubs, bars and fine restaurants.  If you fit into one of the above categories, below for your review is a list of condos for sale in Belmont Heights as of December 5, 2011.  Be sure the check out the map and the walkable scores of each.  Great condos, great locations and great prices for the amenities!   Feel free to call me at 310-508-4354 if you have any questions or if I can be of any further assistance to you.

 [Belmont Heights Condos for $300k and under]

3600 E 4th St 107,  Long Beach,  CALIFORNIA 90814

Price: $329,900

In a word...WOW! This incredibly spacious Belmont Heights beauty feels just like a single family hom ...View Details  View Photo Gallery (30) MLS# P804145

MLS: CARETS

2 Bedroom

2 Bath  

Square Ft.: 1360

Listing courtesy of Keller Williams Coastal Properties

 

 

 

2101 E 2nd St 305,  Long Beach,  CALIFORNIA 90803

Price: $359,000

Great Bluff Park location situated in the \'Chateau Lisa\' located just a couple of blocks from the ...View Details  View Photo Gallery (19)  MLS# P783073

MLS: CARETS

Bedrooms: 2

Bathrooms: 2 

Square Ft.: 1060

Listing courtesy of Realty Brokerage & Investments

 

 

 

3601 E Ocean Blvd 2b,  Long Beach,  CALIFORNIA 90803

Price: $395,000

HUGE 1200 SQ FT ONE BEDROOM BLUFF PARK CONDO in Belmont Heights. FACING OCEAN Blvd at 36TH Place. U ...View Details  View Photo Gallery (3)

MLS# P800633

MLS: CARETS

Bedrooms: 1

Bathrooms: 1 

Square Ft.: 1195

Listing courtesy of Re/Max R. E. Specialists.

 

 

 

 

3707 E Livingston Dr 405,  Long Beach,  CALIFORNIA 90803

Price: $419,000

This Belmont Heights residence has been tastefully remodeled with a modern design sensibility and fe ..View Details  View Photo Gallery (19) MLS# P788242

MLS: CARETS

Bedrooms: 2

Bathrooms: 2 

Square Ft.: 1100

Listing courtesy of Re/Max R. E. Specialists

 

The information being provided by SoCalMLS, CRISNet Regional MLS and/or CARETS is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the SoCalMLS, CRISNet Regional MLS and/or CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site.

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals." The data contained herein is copyrighted by SoCalMLS, CRISNet Regional MLS and/or CARETS and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited.

Copyright © 2010 SoCalMLS®, CRISNet Regional MLS®, CARETS®" All Displays of Licensed Content shall include: "Property Information © 2010" SoCalMLS Inc. All rights reserved. Certain information contained herein is derived from information which is the licensed property of, and copyrighted by, SoCalMLS Inc.

Data updated Monday, December, 5th, 2011. Data services provided by IDX Broker

Seller confronted me on how I did my job!

As soon as I saw him pull up to my Buyer Walk-thru, I knew there was going to be trouble!

REWIND TO A COUPLE OF WEEKS BEFORE:

I started working with a great first-time home buyer investor who wisely decided to purchase a Los Angeles duplex to live in one and rent the other for her first-time home buying purchase. After having narrowed down the choices, we decided on a remodeled duplex that was an investor flip producing enough rent from one of the occupied units, to nearly pay what would be her entire mortgage with taxes and insurance per month.  Perfect! 

DEAL BREAKDOWN:

1. PRE-CONTRACT - Based upon my discovery of false MLS advertising of what were actual classified bedrooms along with my revised CMA based on the new info, I suggested we drop the price  considerably lower than asking when buyer insisted on pursuing it based on location, condition and the rents collected from occupied unit still being at market rents for permitted bedrooms.  After a predictable counter, we got what we wanted.  MY FIRST TIME BUYER HAPPY - seller not so much.
2. POST-OFFER - At first home inspection, the seller just happened to show up and was friendly and CHATTY.  Among many other nuggets he let slip, he told us that whatever we found, to let him know and he would take care of and fix.  I secretly thought "Yipee" while cringing for the listing agent.  BUYER'S AGENT HAPPY - Listing agent not so much (had he known)!  Surprisingly, during this same conversation I found out that he the seller was also licensed.  Something else that was omitted on MLS.
3. The home inspector found a few things, the termite guy found quite a few others and with an add'l $3000 needed in repairs (mostly termite) the seller ultimately agreed. MY FIRST TIME BUYER HAPPY - Seller not so much.
4. Appraisal came in a couple of thousand dollars LESS the already lowered offered price.   MY FIRST TIME BUYER HAPPY - Seller not so much. We immediately submitted an addendum lowering price. 
5. Seller and listing agent challenged third-party appraisal and submitted their own comps which after reviewing and seeing their number of permitted bedrooms, I didn't believe would work in their favor.  Appraiser apparently agreed, stood firm and didn't budge on appraised value.  MY FIRST TIME BUYER HAPPY - Seller not so much.
6. Instead of the regular walk-thru, I advised my buyer to have home inspector perform a walk-thru/re-inspect for $100 because there simply were areas we wouldn't be able to inspect and sometime investors take shortcuts.  THANK GOD!!  The only things repaired were those that were clearly visible to a novice!   We immediately asked for seller to perform and honor the seller signed buyer repair requests!  All agreed repairs were later to be completed.  FIRST TIME BUYER HAPPY - Seller not so much.

FAST-FORWARD TO PRESENT WALK-THRU: Seller came in and approached me with a MUCH firmer handshake than our first meeting. Instead of it making me want to wince, it made me want to laugh - men.  It didn't take long for him to start in on me. In a lucky turn of events, the buyer was going to be late, therefore avoiding the brunt of the potentially deal threatening confrontation. The seller fussed about the tenant estoppel having to be signed by tenant (which apparently he never had to with his other properties sold), the cost of repairs, the appraisal and about 2-3 other things he felt we fleeced him on.

MY RESPONSE: Mr. (seller's name), you clearly aren't happy with how things turned out and I don't blame you, as an investor I'm sure it's tough when you have to take a loss. HOWEVER, I performed for my buyer as I would for any client and that is with their best interest in mind. With that said, please explain to me with everything you mentioned how I failed my buyer who is after all MY client?

He looked taken aback.  He couldn't answer and then shrugged as if to say, "You got me." He shook my hand and told me I was right and did what I was suppose to do for my client.  So instead of wanting to turn me upside down and shake money out of me like bullies do in the cartoons, I had the distinct feeling there was a hint of respect in that second friendlier handshake. 

If you are a first-time homebuyer  Los Angeles, Long Beach, Downey, Carson looking for strong buyer representation when buying your home, condo or income property using first-time home buyer incentives, do not hesitate to call me at 310-508-4354 or visit FirstTimeHomeBuyerRealEstate.com

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OK corral photo courtesy of bbcworldservice and empty pocket photo courtesy of danielmoyle both for Creative Commons for use on Flickr.
This work is licensed under a Creative Commons Attribution 2.0 Generic License.