Neglectful Agents and Lenders Throwing Away Clients!

 

My latest client lead:

He’s pre-approved, has a great down payment and is motivated, yet you threw him away like garbage with your lack of follow-up. 

He had his doubts when you were sending him automated listings that were $30 – 40,000 over his pre-approval price in an area that wasn’t even on his list. Oh, but its when both you and your buyer’s assistant either postponed or showed up really late to two out of the three last showings that really did it for him and he was referred to me from a friend-of-a-friend.  One man’s trash is another man’s treasure – THANKS!!

My last three clients number one complaints were: 

 
1. The agent wasn’t listening to my needs. 
2. We were only being shown homes at the top of our range.
3. We didn’t feel important because they had so many clients.
4. It took several days to get a call back, by then the home we wanted was gone.
   

While it’s true we can’t make all clients happy, there are some agents and lenders who will simply throw away perfectly great clients with their lack of follow-up and neglect. This behavior forces the use-to-be clients to seek out friends, family and co-workers for the names of any good Realtor® who will see them through the process from beginning to end… without a lot of large gaps in-between.

Posted via web from Long Beach CA Real estate

Fed raises rate, banks move from bottle feeding to sippy cup and what it means for you

 

Ok, its what I’ve been saying for quite some time.  But you didn’t want to listen to me. So how about listening to someone who eats, sleeps and breathes interest rates and fed banks, hm?  Pay especially close attention to this statement which doesn’t bode well for either of the buyer or seller fencesitters.

“Higher mortgage rates will make it harder for people to qualify, adding pressure to sellers to offer higher seller concessions to allow for “rate buy downs” to help buyers qualify.” 

How long will you be the, ”I should’ve – would’ve - could’ve” person?

 

Via Nevin Williams,FHA,VA,Jumbo broker CA,OR,WA,NC (First Priority Financial,broker CA,OR,WA,NC):

Commentary
I’ll explain in the easiest terms possible. The fed says that this is not a signal that they will be raising interest rates but a majorty of Wall Street investors disagree.  The feds raised the discount rate from .50% to .75% sooner than anyone anticipated and many speculate that it may be the start of rising interest rates.  Many believe a halt of the fed providing liquidity (money) to banks is near.  The fed states that they don’t view inflation a concern and don’t plan to hike interest rates. 

Remember, interest rates and mortgage interest rates are two separate things.  The government controls interest rates that banks charge each other for loans.  The selling and buying of mortgages on the bond market (we call them MBS-mortgage backed securities) determines mortgage rates.  Right now the feds are buying MBS(bottle feeding) but when they stop if nobody else wants to buy them, mortgage rates will rise. Do you want to buy mortgages and be the banks “sippy cup”?

Market insight
Mortgage rates have increased this week and there is a bearish attitude regarding rates.  In a nutshell,  mortgage rates are on the rise and don’t expect them to come down.  The fed may allow the current stimulus programs to expire.  This includes the fed being the buyer of mortgages (remember when MBS are bought mortgages rates stay low)  so what does this mean for you?

Opinion
Extension of the home buyer tax credit may be in jeopardy.  Higher mortgage rates will make it harder for people to qualify, adding pressure to sellers to offer higher seller concessions to allow for “rate buy downs” to help buyers qualify.  If the the fed waits for strong signs that the housing market is indeed in recovery before stripping all liquidity from the markets and pressures banks to ease underwriting guidelines then a quick recovery is likely.

Providing access to loans to qualified borrowers without ridiculous conditions including a stated income loan program backed by Fannie Mae and Freddie Mac for self employed borrowers will help stabilize recovery efforts.  Amend HVCC and provide the $8,000 tax credit to employers who hire full time employees.  An employed buyer is more qualified that an unemployed buyer with $8,000.

 

Posted via web from Long Beach CA Real estate

REAL ESTATE DISCLOSURES – Remembering the “Why” Behind the Tedium

Capt. Renault:  What in heaven’s name brought you to Casablanca?
Rick:  My health. I came to Casablanca for the waters.
Capt. Renault:  The waters? What waters? We’re in the desert! 
Rick:  I was misinformed.

–SCENE FROM CASABLANCA (photo courtesy of Actionflik)

Though the above exchange makes light of not having full or accurate disclosure when moving or relocating, I find myself at times annoyed with the seemingly massive amounts of disclosure paperwork.  CA seems to come out with several new ones a year!  But its 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 fill out or thoroughly read the docs.  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.  There was time, money, inconvenience or some type of tragedy that could’ve possibly been prevented had there been a law of full disclosure in place.  The following are just a few real estate disclosures that may or may not be required by law in your neck of the woods.

Megan’s Law Database Disclosure is a “head’s up” type of disclosure that notifies buyers that neither seller or brokers are required to check the offender websites for offender location in and around the subject property.  It advises buyers that seek such information to seek it during contingency periods.  Megan’s Laws are state and federal statutes that require convicted sex offenders to register with local police and to notify law enforcement authorities whenever they move to a new location.  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.  There is such a need for this type of disclosure that the Megan’s Law Statute Could Go Global.

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 also affecting fetal tissue, causing irreversible brain damage and impaired 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.

Agency disclosures details who the agent works for in the transaction along with the duties of the licensee to the client.  There are many instances when one agent can work on and for both sides of the transaction, thus creating a dual agency.

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.  
• 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. 
• 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.

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 cemetary” trick. When the family started digging in the backyard to build a pool, all hell broke loose.  I wonder if the Simi Valley,CA home used for the model now has a slight “Public Stigma?”

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?

Posted via web from Long Beach CA Real estate

Long Beach, CA Restaurants: HELP! I’m Full and I Can’t Get Up!

 LONG BEACH, CA RESTAURANTS: Help!  I’m Full and I Can’t Get Up! 

 
So you’ve just moved to a home in Long Beach, CA, finished unpacking and now your hungry!   The wifey already gave you the evil eye when you suggested defiling her new marble backsplash by cooking dinner.  So what do you do?  You head towards Belmont Shore!  The moment your stomach grumbles violently, look up!  You’ve just arrived at La Strada! One of my favorite little Italian restaurants in Long Beach, CA!

 THE ATMOSPHERE:

This warm and friendly neighborhood restaurant allows you the choice of either indoor or alfresco dining.  Both offering a unique charm of their own.  The quaint and unpretentious interior features stenciled wall quotes that’ll have you unconsciously smiling and nodding your head in agreement.   The outdoor patio area consists of a vignette of tables that offer enough privacy for intimate conversation, while still allowing for optimal people watching!   A favorite past-time event here in Long Beach, CA because a cookie-cutter population we are not!

 You’ll find the restaurant a little quiet during the daytime hours.  It’s in the evenings when things become a little more lively.  I find myself wanting to burst out in “That’s Amore!”  But I’m much too reserved for that so alas, I’ll just have to wait for someone’s vino induced Uncle Tony to start it and I’ll join in!

 THE FOOD:
 
BREAD:  Before you can decide on what to order from the menu, they’ll bring you out a basket of freshly baked bread.  I have yet to read a review of this restaurant that doesn’t worship La Strada’s baked bread.  It’s a combination of crisp, soft and warm.  My toes are curling right now just thinking about it!  Dip or sop it in a generous splash of olive oil coupled with a few sprinkles of balsamic vinegar and your hooked!  Believe me, you’ll write me later to thank me and to ask me to be the godmother of your kids!

 ANTIPASTI:  Many scrumptious appetizers to choose from.  My favorite happens to be the Tomato Basil Caprese.  Can you say delicious?
 ENTREES:  The stars of La Strada are definitely the entrees!  My all time favorite would have to be the absolutely delicious Fetuccine au Gratin…or maybe its the Grilled Chicken with Pesto they serve on the lunch menu.  But then again the Chicken Mediterranean and the Bianca Pizza are delicious and huge fan favorites as well!   You decide!

 THE PRICES:

La Strada is moderately priced while serving generous portions.  Oh and did I forget to mention $5 Tuesdays for some of the classic dishes, wines and beer?  There is also a great kid’s menu!

 THE SERVICE:

Depending on how crowded it is, it can vary.  A small cozy restaurant with a huge following will occasionally hit a snag.  But with the service being friendly and the food so good, you’ll forgive them almost anything!  I would strongly recommend reservations for parties of 6 or more.  Yes, 6 or more.  I did say La Strada restaurant was “cozy” remember?

 THE HOURS:

La Strada - Open 7 Days a Week, 11:30am to 10:00pm
_____________________________________

For more information on La Strada’s menu or to get directions, please visit here  

 

Posted via web from Long Beach CA Real estate

Long Beach Real Estate Newsletter with a Twist! 2/09/10

Newsletter

Andi Grant 3105084354 Fax:    5628610285 Email Me View My Website Forward Newsletter Newsletter February 2010 Andi Grant View My Website RESOURCE CENTER Today’s Rates Receive a FREE custom rate quote! Purchasing a Home? Turn the home of your dreams into reality. Need to Refinance? Save money by taking advantage of the lowest rates available. Consolidating Debt? Use your home to help eliminate bad debt and bundle your bills into one easy monthly payment. Apply Now! Your loan approval is only minutes away when you apply online using one of our easy loan applications. REAL ESTATE MARKETPLACE Featured Property: Long Beach, CA, CA 4 Bed, 3 Bath $359,000 View More • Home Search • View Featured Homes • Dream Home Request • Home Value Wizard   CONTACT Prudential 24 Hour Real Estate Andi Grant 3105084354 Fax:    5628610285 • Email Me • View My Website   The Real Estate Market Minute:    Changes to Foreclosure Rescue Plan May Allow More People to Qualify Under fire for the low number of people receiving long-term mortgage help, the Treasury Department on Thursday announced new guidelines that will require applicants to provide all paperwork before getting a trial modification and should make it easier for them to qualify for permanent assistance under President Obama’s foreclosure prevention plan. Click Here to Read the Full Article by CNNMoney.com If you’re considering a Home Purchase then now is the time to take action! Check out the "Resource Center" in the left-hand column of this newsletter for an interactive online tool that can help answer just about any mortgage or real estate related question. _________________________________________________   Brian Tracy Inspirational Article of the Month:   The Secret to Becoming a Leader Brian Tracy is a world-renowned personal and professional development coach that has helped millions of people achieve their goals and develop a positive mindset. Brian will be contributing to our newsletter every month by providing us with an article to help inspire you, our clients, to reach higher and achieve more than ever before.   Click Here to Read this Article by Brian Tracy _________________________________________________     Interesting Articles of the Month:   Dog Washed Out to Sea Has Lucky Escape A dog had a lucky escape when a Polish boat rescued him from an ice floe that had carried him more than 100 miles up a river and out onto the icy waters of the Baltic Sea.   Click Here to Read the Full Article by Reuters.com  Experts Unveil Dinosaur, Oldest Known Ancestor of Birds China has unearthed the fossil of a two-legged carnivorous dinosaur that lived 160 million years ago and which researchers have identified as the earliest known member of a long lineage that includes birds. Click Here to Read the Full Article by Reuters.com   Proposed Law to Jail Dog Eaters Sparks Debate A proposal to jail people who eat dog meat for up 15 days has caused controversy in China, where dog hot pot is traditionally popular.   Click Here to Read the Full Article by Reuters.com   Ageing Problem in Asia Considered “Serious As Climate Change” Longer life spans, falling fertility rates and growing ranks of elderly people in Asia can pose problems as serious as the impact of climate change, a leading expert warned Monday.   Click Here to Read the Article by AFP.com _________________________________________________   YouTube.com Videos of the Month:   Most Incredible Videos to Date – The Luckiest People in the World Parts, 1 and 2 These video clips are pure jaw droppers. It’s hard to imagine what’s going through the minds of these people, other than their lives flashing before their eyes! Enjoy the following video and be sure to forward to family, friends, and co-workers!   Click Here to Watch the Video Clips by YouTube.com _________________________________________________   Delicious Recipe of the Month:   Healthy and Delicious Pomegranate Salad – Great for Valentine’s Day! The theme of for this month’s recipe is “HEARTS”! Pomegranates are rich in antioxidants which are good for your heart, while the seeds sprinkled throughout the salad are like an abundance of little red “hearts” for that special someone! Be sure to share this lovely recipe with family, friends, and co-workers! Click Here for the Full Recipe by CookingWithMelody.com _________________________________________________   Funny Stories of the Month:   5 Hilarious Snippets of People with Sub-Par IQ’s! The lack of intelligence displayed by the people in these stories is hard to believe, so you decide whether or not an individual could really be this “challenged”. It’s a quick and funny ready, so be sure to share with family, friends, and co-workers! Click Here for the Full Story by LearnSomethingNewToday.us   Click to view our Privacy policy To stop receiving this newsletter, Unsubscribe here

Downey, CA Real Estate for Sale (by price range) as of 2/08/10

Search Downey, CA homes for sale by exact price range! As of 2/08/10 here are the latest home listings. Be sure to check out this pool home on Cecilia Ave for a great deal on a 5 bedroom home in desirable area of Northeast Downey, CA. Call me for details at 310-508-4354!:

 

 

$0 – $100,000
$100,000 – $200,000
$200,000 – $300,000
$300,000 – $400,000
$400,000 – $500,000
$500,000 – $2,600,000

 

Search for homes in the following cities by price as well in Long Beach, Los Angeles, Lakewood, Bellflower and Carson

 

Long Beach, CA Real Estate for Sale (by price range) as of 2/08/10

Search for Long Beach, CA homes for sale by exact price range! As of 2/08/10 here are the latest home listings. Be sure to check out the ones located on Ocean Blvd. You can have an ocean view by day and a downtown Long Beach, CA skyline or marina view by night! I could wake up to this every morning, how about you?:

LONG BEACH

$0 – $100,000
$100,000 – $200,000
$200,000 – $300,000
$300,000 – $400,000
$400,000 – $500,000
$500,000 – $7,995,000

Search for homes in the following cities by price as well in Los Angeles, Lakewood, Bellflower, Downey and Carson

Posted via web from Long Beach CA Real estate