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

FIRST TIME HOME BUYERS WANTED IN 2012! Los Angeles, Long Beach, Downey and Nearby Cities!

Are you a first time home buyer looking to purchase your first home in 2012 using a first time home buyer program?  This year is your lucky year!  

As of right now, the holy trinity of home buying is still holding steady with lower home prices, low interest rates and low down payment incentives, positioning first time home buyers to truly benefit in a way that even their parents and grandparents would envy.  

LOW HOME PRICES ~ LOW INTEREST RATES ~  LOW DOWN-PAYMENT

Contrary to media reports using the wide brush of national real estate numbers to preach doom and gloom in your local area, more home buyers are becoming home owners in Los Angeles county as thousands of homes were bought and sold last year in Los Angeles and it's surrounding cities according to CARETS MLS sold results data. 

Total home sales 2011 (not including condos):  

• 7000+ single family homes sold in Los  Angeles (3700+ sold $300K and below)
• 2000+ homes sold in Long Beach (820+ sold $300K and below)
• 600+ homes sold in Downey (140+ sold $300K and below). 

Because it's still early, the National Association of Realtors has yet to release numbers estimating how many homes sold were actually purchased from first time home buyers, but after facing many multiple offer situations last year for homes below the $400K mark (a range that is usually first time home buyer friendly), I reckon the numbers produced to prove quite strong!  

Find out if you too can save money and become a homeowner in 2012 using one of the First time home buyer programs currently offered throughout  Los Angeles County, including the cities of Long Beach, Downey, Carson as detailed at the First Time Home Buyer Real Estate website. You can also find out if you qualify for down-payment assistance.  If you are ready to get started right away, be sure to request a mortgage pre-qualification application or call us today at 310-508-4354!  Happy house hunting!

 

 

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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]

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

 

REAL ESTATE DISCLOSURES - Remembering the "WHY" Behind the Tedium 

 I find myself annoyed at times with the seemingly massive amounts of disclosure paperwork.  CA seems to come out with several new ones a year!  But it's when I come to the Megan's Law Database Disclosure in particular, that I take a deep breath, remembering the "why" behind the real estate dislcosures that I advise my clients to suck it up and thoroughly read the docs.  

Megan's Law Database Disclosure is a "head's up" type of disclosure that advises buyers to perform their due diligence during contingency periods when seeking out information in relation to the location of registered sex offenders in the area they are considering buying in.  Someone's life at some point and time was drastically changed by the lack of disclosure to create enough of a statewide or national concern for a law or statute to be enacted.  What a tragedy for the Kanka family to discover after their beautiful daughter's horrific death, that a twice convicted sex offender moved across the street from them.  

Lead-Based Paint Disclosure was a regulation enacted after studies showed that lead-based paint was possibly the primary source of lead poisoning for children.  This was also believed to have affected fetal tissue, causing irreversible brain damage by impairing mental functioning.  How many children and parents needlessly suffered prior to this disclosure law?  To get more lead-based paint facts and its affect click here.

Real Estate Transfer Disclosure Statement covers the gamut of disclosures.  It can be material facts about a house or neighborhood that a seller would know, possibly affecting the home's current or resell value or desirability. 

STIGMATIZED PROPERTIES are fun stories to tell to other agents, but try selling one. 

• Criminal stigma such as a drug house or brothel associated with the desired home.  The last thing you want is for your client to be propositioned in her own front yard while watering her grass or stooped over geraniums.  
• Murder/suicide stigmas Sharon Tate's home is one of the most famous examples of this type of property stigmatization due to her murder by the Charles Manson followers.  Nicole Brown's home located in the high demand area of Brentwood, took a few years to sell immediately following her murder when it normally would have been snatched up in a few short months.
• Public stigmas and nuisances - can you imagine buying a home next to the circus likes of Britney Spears and Lindsay Lohan? NO THANK YOU!  The house used in the opening credits of the 1970's show The Brady Bunch is still known to have spectators driving by.
• Phenomena  stigmas can make it really hard for a seller.  The home used in the movie The Amityville Horror had to go as far as to renovate and change the address number due to rumors and hoaxes surrounding the home in order to keep sightseers from being a nuisance. 

I'd have to say, one of the most memorable fictionalized examples of non-disclosure would have to be in the movie POLTERGEIST.  In the film, the real estate developer pulled the old "remove the headstones and build a tract of beautiful homes over a cemetery" trick. When the family started digging in the backyard to build a pool, all hell broke loose LITERALLY! 

 There are many real estate disclosures one must sort through when selling or buying real estate.  Disclosures are not to be taken lightly on either side. It saves, time, money, LICENSES and possible other grave tragedies.  Which side of the pain coin would you want to be on in light of failed disclosure? How about none?

FIRST TIME HOME BUYERS ASK:  Do I really need a Realtor to buy a house?  

The fact that home buyers in this day and age of "scam-bam-thank-you mam" still even ask this question on one of the biggest, most costly investments of their lives, continues to boggle my mind.  So I'm going to make this really simple. 

A home buyer PAYS LARGE AMOUNTS OF MONEY for a home or property whether it be via cash or thru financing with interest.

A home seller (homeowner or bank if it's a short sale or foreclosure) generally COLLECTS LARGE AMOUNTS OF MONEY from a home buyer for a home or property via cash or thru buyer financing. 

WHO POTENTIALLY HAS THE MOST TO LOSE in a home buying transaction when a home buyer chooses not to use a licensed Realtor who has been professionally trained in the handling of real estate transactions for their home purchase?  

    The individual(s) paying out the money (the buyer)

    The individual(s) collecting the money (the seller?) 

Is it the wisest decision for a home buyer not to use a professionally licensed Realtor by considering DIY (Do it Yourself) representation on what will most likely be the biggest financial decision of their life, when they could've easily had a professionally licensed Realtor negotiating and fighting on their behalf in most cases for FREE? NO

Is it the wisest decision for a home buyer not to use a professionally licensed Realtor by deciding to willy-nilly hand over their hard-earned money in a For Sale By Owner transaction to an unlicensed FSBO seller that has limited accountability when selling their house and any problems that may come with it? NO

    WHY SHOULD A HOMEBUYER USE A REALTOR?  IN NEARLY ALL CASES, BUYER REPRESENTATION IS AT NO COST TO BUYER!       

SO WHO PAYS THE AGENT'S COMMISSIONS:  The Listing Agents (representing the seller) and the Buyer's agent (representing the buyers) are paid commissions out of the closing proceeds as a co-op split fee between listing agent brokerage and buyer's agent brokerage.  So why would you trust what's probably your largest and most expensive investment to non-representation or limited representation when it's essentially at no cost to you?  WHY?

SHOULD A HOMEBUYER GO WITHOUT A BUYER'S AGENT? 

According to a May 5, 2011 SmartMoney.com DowJones article regarding the wisdom of home buyers going it alone, "Many experts think this is a bad move worse for example than trying to sell a house without an agent. For one thing, in most cases, a buyer doesn't pay an agent; the buyer's agent splits the commission with the seller's agent, so the services are essentially free to the buyer."    

NOT ONE OF MY PAST HOMEBUYERS HAVE HAD TO PAY ME FOR BUYER REPRESENTATION!  As a first or next time homebuyer, it only makes logical and financial sense to have your own buyer representation.  It's in your best interest and it will give you peace of mind in knowing it's someone that will be solely rooting for you and you alone.  If you are looking for someone like that, then I'll be more than happy to help you in a first or next time homebuying transaction!  Call Andi Grant, Realtor® at 310-508-4354. 

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Other buyer articles that may be of interest to you:

Should Buyers Use the Same Agent as the Seller?

Homebuyer Protocol and Guidelines

What Realtors Do for Buyers

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Empty pockets by Danielmoyle  Guy celebrating money by baslow all for Creative Commons
This work is licensed under a Creative Commons Attribution-ShareAlike 2.0 Generic License.

Tenants Being Used as Pinballs in the Seller's Short Sale Machine

This past weekend I took a set of retiree buyers to view homes in Murrieta CA over 50 miles away from my service area.  This was due to my client not being treated very well by the referral agent.  Even with pre-approval in hand, no appointment had been setup in two weeks, calls were not being returned - that sorta thing. 

Anyway, we drove up to the neighborhood of the first home my buyer insisted on seeing and I groaned inside.  Because neither the MLS description, MLS photos, nor the agent when I spoke to her the day before indicated to me it was a gated community.  I only had the remote key to the front door and not the gate combo. Although the printout said "Go Direct" I should've asked.  How could I have forgotten to ask? I pulled over to the side and attempted to call the agent.  It went straight to voicemail as in mailbox full or phone turned off.  A large SUV pulled into the roundabout driveway so we immediately tailgated followed them in.  We drove deep into the complex and ended up parking right beside the same SUV. 

As the young lady (age 30-something) got out of her car, I apologized and assured her that we were the "good guys" getting ready to view a home for sale and not stalking her.  I also mentioned that we were grateful for her allowing us to come in having come all the way from LA.  She wearily laughed and told us she was glad she could help while gathering her groceries.  In the back seat I couldn't help but see three little blonde heads all in car seats.  We joked with her that she had her hands full literally and figuratively.  My buyers even offered to help her, which in hindsight now, could have been deemed awfully suspicious, but she politely declined. 

With printout in hand we went looking for unit #101 and wouldn't ya know it.  A super huge Marmaduke looking dog was standing taller than all of us with paws on edge of the wraparound patio that also included a portion of the path to the front door.  My Supra remote key useless as this too wasn't mentioned in the MLS private remarks.   

The woman that we had parked next to walked towards us with plastic bags of groceries hanging down both her arms, as she ushered her 3 little boys up the walkway.  One was clearly special needs who was determined to wander off.  She looked at us and asked which unit we were we coming to see because the one behind us was up for sale.  I told her it was unit #101 (pointing to the one in front of us).  She looked confused then upset.  She then told us that we were the second set of people to come to see the house she was renting (the others the day before).  But according to the seller and agent the home had already been sold.  She and her husband had already gotten a notice to be out by August 31st, but then were told there was no urgency because the "new buyers" weren't in a rush.   I asked if she had gotten a call from the listing agent telling her that we were coming, she said she postiviely hadn't.  That was unacceptable. 

She apologized and asked if we could give her 10 minutes to clean up a little and settle the kids.  We apologized and asked her only if she were sure.  She said she didn't want us to have wasted a trip.  In perfect timing I got a return call from the listing agent.  I didn't go into the gate code or Marmaduke issue but told her the tenant had no idea we were coming and is under the impression that the house had already been sold or was in escrow.  She assured us that it wasn't because the home had an approved short sale, but had fallen out of escrow and they needed a new buyer ASAP!  She told me that the buyer had no idea and the seller was trying to hold onto them as long as he could to continue getting rents until he could get another buyer into escrow.  I told her we were placed in a very uncomfortable position but I didn't lay into her too much just in case we were the next set of buyers and needed her full cooperation. 

The tenant motioned for us to come in.  She tied the "harmless" dog up.  We stepped into the home and oh my goodness.  One child was climbing up a built-in wall unit, the special needs one was throwing a temper tantrum at the top of the first set of stairs, while the youngest was in the middle of the floor with arms raised crying.  This poor overwhelmed lady looked as if she were going to burst into tears!  I know I'm going to get a lot of flack from readers for this, but I put my keys and purse down and asked if I could (pointing to the baby), she threw her arms up shaking  her head yes as if she couldn't verbally answer the question if she wanted to. 

I picked up the crying 2 year old and shhh'd him and patted his back as we all toured the home together with the mom explaining to the buyers about the amenities and how great the area was.   The baby was quiet for about 10 minutes which is forever to a mom! The home was completely thrashed.  Clothes strewn, toys and boxes everywhere, dried stains on a couple levels of the carpet.  There was one level that was completely spotless.  I guess that was all she could manage under her chaotic circumstances!   My buyers although having a hard time with the mess, because of the layout was still considering an offer.  I was advising against it simply because it was tri-level with no ground floor bedroom.  Although both quite spry, not advisable for retirees as I had been diplomatically explaining to them on the drive up. 

I called the listing agent afterwards and left her a voicemail and text explaining how bad we felt popping in on the tenant who had 3 kids all under the age of 5 (one special needs) and a dog.  How gracious and cooperative she was to allow complete strangers into her home although we were unexpected.  In other words that was unacceptable and tenants have a right to be notified especially since it states it on the MLS! 

It's an overall bad situation for all parties.  Bad for the seller who is trying desperately not to lose another month's rent while trying to get a new buyer in.  Bad for the listing agent who is trying to hold onto to the shreds of a listing after a buyer falls out.  Bad for the buyers' agents that are unknowingly popping in on very emotional and sometimes hostile situations.  But most importantly in this particularly case, very bad for the tenants that have 3 young kids under age 5, are packing to move, have strangers popping in unannounced at all times of the day, a listing agent that is not communicating with them, and a seller pushing them to go, then stay.  Through circumstances not of their own, these tenants are being smacked and bounced around like pinballs in a pinball machine at the seller's and agent's whim and convenience until the seller can "score" again.

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This is a repost because someone just asked me if they should get into the real estate business because agents still made a lot of good money in it and it seemed so glamorous.  I told her to do two things.  1)  Take some time off from HGTV because it was completely distorting her idea of what this business was all about.  2)  Read about my first real estate deal many years ago and tell me if you still think it's glamorous *see below.*  [This is a long one but well worth the read!]

REALTOR Sabotage, a Violent Tenant, Buyer Backing Out, Out-of-state 1031 Exchange...and THAT WAS JUST MY FIRST DEAL!

My first deal - talk about an accelerated real estate crash course!  Several years ago when I had just received my license, my cousin called to tell me that he wanted me to list his property in Long Beach, CA.  The same cousin who used to babysit my siblings and I and said we would never grow up in his eyes?  My hero!  I was sure it was going to be the easy-to-list, immaculate 3 bedroom home he had.  No!  He wanted me to list one of his 4-unit apartment buildings. 

To a new agent an apartment building sounded like selling Trump Towers!  In addition to that, my cousin was selling it and doing a 1031 exchange for several homes out-of-state, which meant there would be strict time deadlines to take into consideration.  If that wasn't enough, he would also be out of town most of the time and would be signing docs and coaching me from a distance.  *GULP* Thank God for my wonderful agent-friendly broker!  

Fast forward to meeting the tenants:

1. Tenant #1 - was great!  Young single guy and very cooperative.
2. Tenant #2 was a REALTOR.  My cousin had used her before for transactions, but told her that he would be using "family" for this one.  Well apparently this didn't sit well with her as we would later discover.
3. Tenant #3 - lovely kind woman.  She warned me about the "special one."
4. Tenant #4 - the "special one."  My cousin said she might be a little difficult.  Oh lovely. 

Within no time, we got the offer we wanted and were in escrow!   

INSPECTION DAY:

Tenants #1 and #3 easy-breezy great!

Tenant #2 (the Realtor) who was reportedly a neat freak according to the other tenants and my cousin, had clothes strewn all over the place in every room of the house.  Doors were hanging off hinges and there were NEW permanent stains in the carpet just in time for the date of inspection.  Nice.

Tenant #4 had a terminally-ill and not-so-mentally stable border living with her who, unbeknownst to me, was going to be present for inspections.  Oh and did I mention that he also suffered from "Demophobia" which is a fear of crowded places?  I had scheduled the physical inspection, termite and appraisal all in one day.  Two of the aforementioned were either early or late and at one point there were 7 people in the 2 bedroom apartment all at the same time (me, the buyer, the buyer's agent, the border, the appraiser, the termite inspector and the physical inspector).  I guess it became too much for him because all of a sudden he jumped off the couch and started yelling at the buyer!  His fists were balled and he was threatening the buyer's life!

Oh Lord.  I took in the entire situation as with eyes darting back and forth.  The buyer's agent looked like he was going to faint before the buyer did.  The border was fighting mad and with him being terminally ill, this poor guy had NOTHING to lose!  What to do, what to do?!

In a calm voice, I told him that it was ok. I added that *special one's name* whom he bordered with, wouldn't be very pleased to know we didn't get to finish today and we'd have to reschedule another appointment that same week. He backed off. The buyer backed out. I had backup offers - Thank God!

I was later to learn that "special one" bragged to the other tenants about having the border scare the first buyer off!  She then tried a another routine with the new backup offer buyer. He saw right through it though and said he would be moving forward.  After he and his Realtor drove off, she started yelling that my cousin owed her a relocation fee because she knew the law and that's what happened at her last place.  I politely informed her there wouldn't be a relocation fee paid this time because the city she resided in wasn't under rent control.  I told her the new owner was also aware of this and hopefully was very forgiving.

She started crying and blaming me for not telling her that he was going to be the owner (???) and then stormed off to her apartment.  I felt bad...well not really. I know that's probably a bad thing to say, but I'm being truthful about how I felt at the time. Tenant #3 witnessed the entire episode. She took my business card and said when she was ready to buy I would definitely be her Realtor if I could come out of this still sane and smiling.

Building sold for top dollar, cousin had a successful out-of-state 1031 exchange and it was a happy ending for all...or was it?

FAST FORWARD TO TODAY (March 2010)

The owner is losing the apartment building!  It is a pre-foreclsosure short sale now selling for hundreds of thousands less than what he bought it for.

Tenant #1 - moved away and I'm sure is a fine upstanding citizen somewhere. 

Tenant #2 - a.k.a. the REALTOR - I have no idea what became of her.  I only hope she has repented for her behavior and has since become a home stager in recompense.

Tenant #3 - went to live with her son.  I wish this kind sweet-spirited woman all of the best and would be more than happy to represent her!

Tenant #4 - I found out from tenant #3 that terminally-ill border ran away!  "Special one" came home from work and all of his stuff was packed and gone.  She was also said to have skipped paying rent over various trumped up complaints, creating a difficult situation for the new owner throughout his years of ownership. Poor guy!

 

My cousin was glad he sold during the "good years." 

What I learned back in that first deal, was more than what most agents learn in all their years of doing real estate.  After that, my attitude was fearless! BRING IT ON! 

 

Dual Agency - Listing Agents Representing the Bride and the Mistress?

A buyer posed the question today as to what the drawbacks were when using the seller's agent to save on commission costs when buying.  The answer almost always draws opposing views.  Mostly depending on which state the representing agent is from.  

Dual agency is when a listing agent represents both the buyer and seller in the same real estate transaction.  It is legal in CA and must be agreed upon in writing by both parties.  In spite of this, it always surprises me that even the most saavy of buyers will not seek out their own buyer representation from someone who has limited to no interest in the seller's side of the transaction.  The buyers are enticed into believing they will save so much more more money if the seller will consider their offer above others due to the "lowered commission." Well let's look at this a little deeper.   

WHO BENEFITS THE MOST FROM DUAL AGENCY?  In my opinion, two parties benefit the most - the seller and the listing agent that will have double-ended the deal, getting paid an additional % than he/she would've otherwise received.  Also, a buyer needs to factor in that if the seller needs to buy another house after their sell, who are they most likely to have a continuing relationship with?  You guessed it, their agent.  Who will then get paid an additional buying side commission from that transaction as well?  It would behoove the listing agent to be as cooperative with the sellers as possible throughout the first transaction.  The buyer at that point can never be sure as to whether or not they were represented by someone who had their best interests at heart.   Not to categorically state that a listing agent can't back pedal and with all sincerity do their best to take an unbias and neutral role post-listing contract, but it can be very tricky as each party pushes the agent to make demands on their behalf.  The liability is so great, that many states have discontinued the practice of dual agency altogether.     

"Do You Listing Agent, Hereby Swear to Get The Seller As Much Money on the Asking Price of Their Home?  I DO.

WHY A BUYER NEEDS EXCLUSIVE REPRESENTATION
Buyers often do not know or fail to remember that the listing agent worked for the seller FIRST. He/she had a contracted pre-established relationship with the seller. They probably know the names and birthdays of their kids. The listing agent has already by deed and action impressed upon the seller how they will get them the most money possible for their home - as they should.

Then here comes you the home buyer.  You are now being wooed by the listing agent if you didn't somewhat initiate the "flirtation" to begin with.  In this case, the listing agent is someone that is already considered "taken." 

I liken the buyer in that particular situation to a mistress. The listing agent is already married to the seller. Someone gets the first fruits, someone gets what's left. Oh it can be very exciting at first when you appear to be getting all of the attention, but once everyone gets what they want, then what?  The doubt increases even more, if and when after the close of escrow, the listing agent then becomes the seller's buyer representation. 

“Dual agency is a totally inappropriate agency relationship for real estate brokers to create as a matter of general business practice…The disclosures and consents necessary to make a dual agency lawful are so comprehensive and specific that a typical real estate broker cannot undertake them as a matter of routine.”  Pg 10 of NAR's "Who Is My Client" A Realtor's Guide To Compliance with the Law of Agency circa 1986

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Looking for buyer side representation?  Do not hesitate to call me at 310-508-4354 or visit FirstTimeHomeBuyerRealestate.com to start your home shopping in Los Angeles, Long Beach, Downey, Carson, Lakewood and their surrounding areas. 

Bride and Groom photo courtesy of marketing Deluxe for Creative Commons and 3rd wheel photo courtesy of istock

HOME BUYING NEAR RETIREMENT AGE:  Finish Strong or Finish Wrong!

I've had an influx of seniors calling me or making online inquiries lately as they make the decision on whether or not to use a large portion of their retirement funds to purchase a home "this late in the game."  If they are not downsizing and they are first time home buyers, I ask them have they always wanted a home, what has kept them from getting one up until now, and the basic home buyer questions to make sure they have a realistic idea of what it means to be a home owner.  I find it quite touching to hear their stories.  Some have waited over 40 years to buy their first house and are no less excited and giddy about the process than someone in their 30's.  

RETIREES SHOULD CONSIDER THE FOLLOWING:

1) DEFINE THE MONTHLY MORTGAGE PAYMENT YOU WILL BE MOST COMFORTABLE PAYING WITH YOUR RETIREMENT CHECKS. The very last thing any retiree wants to do is get in over their head at this stage of their life. I tell my retiree clients "Finish Strong or Finsh Wrong." We laugh at the cheesiness of the statement, but they never forget it and it becomes their motto from that point on.   

2) SPEAK TO A REALTOR® WHO KNOWS THE AREA, THE MARKET AND A GREAT LENDING PROFESSIONAL. A Realtor can determine your purchasing needs, your wants, short term and long term and best match you with a recommened lending professional that can help you to accomplish those goals. Realtors for the most part, know which lenders have a proven track record for closing deals on time with as little out-of-pocket costs to their clients. They are able to vet out the over-promisers and for your sake find the ones that are most experienced with obtaining great financing and closing on a loan that is best suited to you and your circumstances. Remember ultimately it is YOUR choice as to whom you will use as your lending professional, so choose wisely.

3) BE COMPLETELY HONEST AND TRUTHFUL WHEN SPEAKING TO THE LENDER.  There are less curveballs thrown into an escrow when the lender completely knows your circumstances. The last thing you want with your good faith deposit on the line is to have a delay with an expensive per diem or worse a loan app turned down because you weren't forthcoming about estranged spouses, back taxes, etc.

Also stand firm on the amount you are most comfortable paying using the retirment monthly payment as your guideline. More times than not, people qualify for much more than what they are actually comfortable paying. Also keep in mind, there will most likely be two different qualifying amounts for a home vs condo because HOA fees have to be factored in to what you can afford to pay per month. Make sure you completely understand what monies will be used, how they will be used and what reserves will be left for unforseen circumstances i.e. medical bills.  Ask questions until you do understand and make sure it's in writing in layman terms. Do not hesitate to have an attorney look over any documentation where language is vague or unclear. 

4) WITH PRE-APPROVAL IN HAND, IMMEDIATELY CALL YOUR REALTOR! Your Realtor can now compile a more precise list of homes for sale in your targeted area to view that you can not only comfortably afford but feel secure retiring in.

If you are thinking about downsizing, relocating or buying in the areas of Los Angeles, Long Beach, Downey, Lakewood, Carson or any of their surrounding cities, do not hesitate to call me at 310-508-4354.

All photos by Andi Grant, Realtor®

Hired or Fired?  Celebrity Apprentice and How It Can Apply to Real Estate or any Sales  

There isn't a lot of reality TV that I watch, but I have to say not only is Celebrity Apprentice providing great entertainment on a weekly basis for me, but with over 7 seasons under Celebrity Apprentice's belt, there are over 60 episodes of failed and successful tasks when it comes the marketing of self, a company's product, service or name brand in which I can study.  Below are just two examples of how Celebrity Apprentice 2011 tasks can be applied to sales of any kind and especially the selling and marketing of real estate in even the most minute of details.

  

CELEBRITY APPRENTICE TASK EXAMPLE 1

MARKET CAMPING WORLD'S RV's AND CAMPING EQUIPMENT (Week 3) - Key criteria as mentioned by Camping World's CEO Marcus Lemonis, is to stage a camping experience, in which the contestants would be judged on brand messaging, the originality of the camping experience created, and overall presentation to all from affordable to luxury. Both teams were provided with empty RVs on a concrete lot.

• Winning Team:  The executives felt they "won hands down."  The presentation transported consumers from the concrete jungle of a New York city lot to a "fertile" campsite rich in "foilage green" Astorturf for ground cover, surrounded by living trees and a relaxed atmosphere of lounging, ball tossing, singing camp songs, promoting comfort without sacrificing luxury, while at the same time successfully intergrating the company into the forefront with brand messaging.   
• Losing Team:  Focused on non-essentials like accessories inside the RV where the client would be spending the least amount of time . They had balloons instead of foilage (is this a camping and travel RV or a party bus?) FAIL.  The team didn't draw from each person's strengths to help consumers envision themselves purchasing that particular company's product to bring about a desired experience for that target market.  

How this can apply to Real Estate:

When buyers (consumers) walk into a home during a showing, in this case interior being optimal, it helps if they go from simply viewing a seller's home, to walking in and being transported to their future home.  I always walk behind my buyers to gage reactions.  When they see family photos of Timmy and Rebecca all over the place, the sellers' doll collection and stuffed big mouth bass on the wall, all of a sudden you will notice subtle changes in their demeanor.  From lowering their voices as they talk, to crossed arms as they become mere visitors to the seller's home. This by the way is nearly the same reaction to a filthy house.   The buyer's comfort level can so easily be reduced to nil when the team of seller and agent fail to create an appealing home experience for the buyer.

CELEBRITY APPRENTICE TASK EXAMPLE 2 

CREATE A FOUR-PAGE CONCEPTUAL AD CAMPAIGN FOR THE TRUMP HOTEL COLLECTION (Week 8) includes photos and print - Key criteria to make the line of luxury hotels stand out over other chain luxury hotels and not to market them with the same typical marketing that denotes what the masses deem as luxury.  

Winning Team (by default) - the executives didn't like either promotion as one didn't stand out more than the other and was tunnel visioned on focusing on general aspects. However the executive appreciated how the winning team's verbal pitch keyed in on the emotional side as one of the team member's was directly affected by staying at a Trump hotel when the hotel concierge provided services that greatly affected his family for the positive during their stay.  In addition to that, while both teams were later defending themselves to Donald Trump, the same team expressed how the other team failed to mention in their marketing text what truly set Trump Hotels apart from their competition thinking photos would be enough.  

How this can apply to Real Estate: As a listing agent are you simply parroting the same home and neighborhood information as others  when it comes to nearby homes of similar style and square footage?  Do you ask your seller's during listing presentations what made them choose that particular home or area?  Even as a veteran listing agent in the area, there may be a golden nugget that you may not have been aware of that other agents are failing to mention in targeted ads or public remarks as a draw.  

ALL TASK WINNERS SHARE A COMMON DENOMINATOR

On Celebrity Apprentice, no matter how grand the task is in scale or idea, the winner ALWAYS had a winning formula that came down to the same three things week after week, season after season:

1. Which team or individual listened most to their clients needs? 
2. Which team or individual targeted the consumers who would most likely seek such product or service? 
3. Which team or individual best utilized their strengths to draw or convey to the client why their product of service was best over competition?

The above list is applicable to any type of sales and most certainly real estate when it comes to winning tasks of getting the listing, marketing homes to targeted consumers and negotiating to get your buyer in spite of what your competitors are offering.

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When the listing agent says, "We've accepted another offer"   

If you've been in this industry long enough and have worked with numerous buyers, you've probably heard those same four words of death.  Immediately following, your hand gripped the phone a little tighter, your eyes closed, and your mouth formed into a grim position as you imagined the disappointment of your buyers.  However, I've learned oftentimes, it's not over until it's over! Just last week I had further confirmation of this when I inquired of an offer sent a week prior to a listing agent in a multiple offer situation.  We had heard nothing back and I suspected that it wasn't in our favor.  However, the near-death experience went a little something like this: 

Listing agent:  I'm sorry but we've accepted another offer.

Me :  Oh darn.  By chance did you communicate the seller acceptance and inform the other side yet? 

Listing agent:  Well no, we are getting ready to do that.  I'm waiting for seller signatures now.

Me:  Oh GREAT, so the listing is still actually active. [NOTE my total disregard once I knew the seller hadn't signed off and officially accepted the other offer].  If you'll just allow me [insert listing agent's name] to recap again why my buyers are so strong, I'm sure you and your sellers will reconsider.  If it turns out the other buyers are the far superior choice overall, well then [insert listing agent's name] we'll have no choice but to concede as I truly understand the seller must do what they deem is in their best interest. [The following was stated in matter-of-fact type of way, no pushiness and most certainly no desperation]:  

• We submitted a fantastic offer price, higher than asking but matching comps enough where appraisal shouldn't be an issue.  The sellers will more than likely not have to renegotiate a lower price later with my buyers because of a grossly inflated offer price tactic, which as you and I know happens so often in multiple offer situations like this.
• Both of my buyers have outstanding credit scores being [insert high credit scores here] which of course yousaw on the first page of their FICOs.  Neither side of the buying team has shown a track record of possible irresponsibility, simply by pattern they are not likely do anything rash to jeopardize the escrow in any way. 
• My buyers do not NEED closing costs.  As you and the seller have witnessed with their proof of funds, their finances are strong and the lenders and underwriters will most likely see that as well.  Although they are FHA, they are not likely to have to scrape up any of the closing cost money or need to get any last minute gift letters from family to close.  **I hear a grunt from the listing agent letting me know that is a point of concern regarding other buyers.**
• My buyers know the area and will be buying here, it's simply a matter of whether or not it will be your listing and believe me, they would LOVE for it to be your listing.  
• 30 days to close, using direct lender.  One that I'm sure you recognize as being very reputable with an outstanding track record of timely closings. [If she didn't know, I reiterated it!]

Listing agent:  Wow ...I'm sorry Andi was it? 

Me:  Yes, Andi Grant representing [buyers' names].

Listing agent:  Ok Andi, let me call the sellers to discuss and see if some of the great points you've mentioned will sway them.  I'll call you back and let's cross our fingers. ("Let's" meaning "Let us." In other words the listing agent would be fighting for our offer now because it looked the best in terms of a seamless closing for her seller at a fair price).

Listing agent (not even 15 mins later):  The seller wants to work with you guys!  We'll get the paperwork together and send back shortly.

When you look at what I recapped, it wasn't anything out of the norm.  But in LA, where agents can sometimes be spread out 30 - 60 miles away and where offers are submitted electronically, there isn't always a chance to hand deliver and personally speak up your clients to the other side.  So although I was told there was another acceptance, it didn't mean in the circumstances we had to accept it.  Also you will note, that I often used the terms "more than likely" because I would still be negotiating in my buyer's favor until I handed them the keys.  Far too often we think because the "fat lady has sung" that it's over.  But maybe she is still in the dressing room and the doors are wide open.  It's not over until it's over! 

If you need a hard working Realtor and someone who has strong negotiating skills, do not hesitate to call Andi Grant at 310-508-4354 and I'll be more than happy to work hard for you!  

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