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Danielle Ervin's Blog

By Danielle Ervin | Agent in 91709
  • What we owe our clients... as professionals

    Posted Under: Home Buying in Brea, Home Selling in Brea  |  August 4, 2011 8:46 AM  |  1,210 views  |  No comments

    First and foremost, we owe them to act like professionals.

    But in general agents owe several special duties to their clients. These duties and obligations are: Obedience, Loyalty, Disclosure, Confidentiality, and Reasonable Care.

    Obedience is the willingness to follow the orders of others. As a fiduciary, an agent must perform all lawful actions requested by his or her client. We work for our clients, plain and simple. We must put their needs first and always have their best interest at heart. Which leads to the next….

    Loyalty refers to the duty of an agent to put his or her client’s best interests first.

    Disclosure refers to any statement of fact that is required by law. Every party to a transaction has the right to expect disclosure of material facts about the property. However, the client in an agency relationship can expect to know much more from his or her agent. The agent involved in the transaction must disclose all facts about the property that have been given to him or her.

    Confidentiality refers to discretion in holding privileged information. Any confidential information an agent has about his or her client must be kept confidential unless the client provides written permission for it to be disclosed. The only information that should be disclosed to the other party is what is required by law.

    In other words, a client’s motivation for buying or selling and his or her acceptable price or bargaining position should not be disclosed to the other party. That is because a client’s motivation, for example, is not a material fact. It is a personal detail and when disclosed in confidence, it must remain in confidence. When confidential information seems to conflict with disclosure duties, a licensee’s duty of confidentiality should always take precedence in these situations.

    Reasonable Care
    Reasonable care, also known as due diligence, refers to the amount of care that an average, rational person would take under the same or similar circumstances. Professionals and specialists are held to a higher standard of care than the public when dealing with situations related to their field of specialization. Clients hire real estate professionals to provide skilled and knowledgeable service and advice about buying and selling real estate.

    I’m always hoping to meet or exceed your expectations! I hope this gives you perspective on how I work!

    Helping you build your dreams

    Danielle Ervin


  • May Real Estate Update

    Posted Under: Home Buying in Brea, Home Selling in Brea, Foreclosure in Brea  |  May 9, 2011 12:14 PM  |  482 views  |  No comments

    Mayday, Mayday, Mayday..... no not the distress call.... Let's celebrate May :) Were in the full spring housing season and it is as strong as expected. This past weekend was extremely busy for me in particular. I'm finding that buyers are online looking for properties in record numbers!  
    With Prudential's Online Sellers Advantage I'm able to track the online activity for my clients. In addition to the syndication and further marketing I do across the web... the numbers of buyers looking astounds me. I went to a listing appt and this is the info I gave them;

    Current Real Estate Activity
    In Your Market, 193,035 buyers have registered for an account.
    In the last 30 days, 35,316 searches have been made for properties in your price range.
    In Your Market, 142 registered buyers have requested a notification when a property like yours enters the market in your area. Also, 2 registered buyers are actively monitoring the 13 listings in your area.
    Yesterday, there were 4 searches for a property like yours in your ZIP Code.
    Last week, there were 82 searches for a property like yours in your ZIP Code.
    In the last 30 days, there were 274 searches for a property like yours in your ZIP Code.
    Here is my monthly newsletter. You'll find tips on how to sell and real numbers published by the National Association of Realtors;
    Let’s see how the market faired in April;
    Brea has 9(down 1) bank owned homes on the market as active. In contrast they have 25(up 1) active homes listed as a short sale. 34 properties went into escrow between 4/1 and 4/30…
    Placentia has 9 (down 2) and 46 (up 4) active short sale listings. 37 properties went into escrow.
    Yorba Linda has 18 (down 1) bank owned and 90 (up 8) short sale active listings. An incredible 80 properties went into escrow!
    Anaheim Hills has 12 (up 1) and 47 (up 3) short sale listings. Another 57 properties went into escrow!
    Tustin has 20 (up 1) and 92 (up 9) short sale listings. Another 71 properties went into escrow.
    Irvine has 17 (down 17) and 172 (down 14) short sale listings. 215 properties went into escrow!
    Orange has 27 and 122 short sale properties. 117 properties went into escrow.
    Newport Coast has 4(same) and 7 (same) short sale listings. 12 properties opened escrow.
    Newport Beach has 15 (up 4) and 52 (down 3) short sale listings. 63 properties opened escrow!
    Chino Hills has 21 (up 1) and 120(down 2) active short sales. 61 properties opened escrow.
    Corona has 107 (down 22) and 501 (down 60) short sale listings. An amazing 331 properties went in escrow.
    From the above info.... things haven't changed to much since the month before. Slightly less properties opened escrow but nothing drastic. I think part of that may of been the lending changes that took place mid-month. The lending environment continues to shift, grow, and change.... If you need specific information on your situation please just let me know. 
    At your service,

    Danielle Ervin
  • Buyer credits when purchasing an REO?

    Posted Under: Home Buying in Brea, Financing in Brea, Foreclosure in Brea  |  September 9, 2010 10:57 AM  |  793 views  |  1 comment

    Have you come across the term "Buyer Credit" when trying to purchase a bank owned property yet? If not you may see this soon, so be on the look out.

    Often times REO purchase contracts when written in today's market implement some type of " fee on buyers for every day that they go over the close of escrow date. Since REO properties are very costly to the Banks and their Investors they want them sold as soon as possible. Though many Banks hardly ever enforce their Per Diem fees due to legal issues, time and money, several Banks have come up with an innovative idea to motivate their buyers even further by issuing a Buyer Credit for everyday that the buyer closes early.

    That's right...your buyers may actually receive money at closing, in the form of a credit, reducing their cost if they close before the close of escrow date on the purchase agreement.

    Over the last couple months a lender I know has seen several REO purchase contracts contain the "Buyer Credit" I have mentioned above. He had the opportunity a few weeks ago to speak to one REO Bank who was issuing these credits and this is what the Bank Representative told him..."he said that 60% of the buyers who are involved in purchasing one of their REO properties are unable to meet the Close of Escrow date due to various issues, mainly caused by what they say are delays in the buyers ability to accurately obtain Home Loan financing and close escrow on time. That is a serious problem which needed to be addressed he said. Every day that a REO property sits on the market it's an added day of expense, loss and liability for the Bank and its Investors. A Buyer Credit is another tool that a REO Bank can use to further motivate the buyers and their agents, which they hope will become more aggressive in closing early and staying on top of their Lender to close ASAP to take advantage of the credit be given."

    If you are a Buyer who is obtaining Home Loan Financing through one of the Big 3 as they are called, "Bank of America, Wells Fargo and Chase" then you may know that you need 45 to 60 days on average to close a transaction due to the simple fact that these Banks are slow, over burdened are not worried one bit about losing a deal here or there because of massive volume they turn nationwide.

    Finding a lender and agent you trust is imperative in today's market. You must do your due-diligence and look out for your best interests.

    Customer Service is what it's all about in our industry. Offering something that nobody else has, delivering a superior product, in a cost and time efficient manner, this is what I am and the lenders I work with are all about.

    If you are ready to buy and want a FREE buyer consultation..just send me an email today! Are you renting? Want to know what you can afford... just use my calculator at; www.danielleervin.com (top right of page :)

    Helping you build your dreams
    Danielle Ervin

  • September Market Update

    Posted Under: Market Conditions in Brea, Home Buying in Brea, Home Selling in Brea  |  September 7, 2010 2:01 PM  |  505 views  |  No comments

    Summer coming to an unofficial end leaves many wondering what the market will do in the 4th quarter. As our office manager put it; We are going counter economy and sales are at their highest!

    Inventory is about the same. Interest rates remain low… definitely vary from day to day but still hover in the 4.25 to 5% range.
    Since I last sent an update I have closed another successful short sale with my clients walking away with full release of lien and liability. I couldn’t be happier for them. The anxiousness that comes in today’s market is unlike any other.
    Here is my monthly newsletter. I’ve got some positive talking points for you :)

    Let’s see how the market faired in August;
    Brea has 9 (down 3) bank owned homes on the market. In contrast they have 39 active homes listed as short sale. Plus 66 properties went into escrow between 8/1 and 8/31…pretty steady in comparison from July.

    has 18(down 1) and 44 active short sale listings. 81 properties went into escrow in August.

    Yorba Linda
    has 24(up 3) bank owned and 102 short sale active listings. An incredible 170 properties went into escrow!  
    Anaheim Hills has 12(up 3) and 55 short sale listings. Another 104 properties went into escrow!

    has 13 (up 2) and 76 short sale listings. Another 142 properties went into escrow.

    has 33(up 1) and 189 short sale listings. 439 properties went into escrow!

    Newport Coast
    has 2 (same) and 13 short sale listings. 39 properties opened escrow.

    Newport Beach
    has 10 (up 3) and 48 short sale listings. 132 properties opened escrow!

    Chino Hills
    has 22(up 6) and 124 active short sales. 152 properties opened escrow in August.

    has 129 (up 22) and an incredible 522 short sale listings. An amazing 966 properties went into escrow.

    Some lending changes and appraisal changes have come into effect…. or will be soon. If you’d like to know if they will effect you.. just drop me a line.

    Helping you build your dreams

    Danielle Ervin
  • Some positive talking points....

    Posted Under: Market Conditions in Brea, Home Buying in Brea, Home Selling in Brea  |  September 2, 2010 8:08 PM  |  513 views  |  No comments
    My head can spin with all the negative media. But don't forget the Real Estate is regional and very hyper-local :)

    Let’s look at the bright side… based on these brief talking points.

    Optimism is rising….The California Composite Index of Consumer Confidence increased to 84.2 in August, slightly higher than the May reading of 82.7, according to a survey conducted by the Anderson Center for Economic Research at Chapman University.

    Negative equity continues to improve in Q2 2010. Nearly one quarter (23 percent) of all residential properties with mortgages had negative equity at the end of the second quarter of 2010, down from 24 percent in the first quarter, according to CoreLogic. Delinquencies, foreclosure starts decrease in second quarter The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 9.85 percent of all loans outstanding in the second quarter, down 21 basis points from the first quarter, according to the recently released Mortgage Bankers Association’s (MBA) National Delinquency Survey.

    Case Shiller Index improves in second quarter. Home prices increased 4.4 percent in the second quarter of 2010 and now are 3.6 percent above their year-earlier levels, according to the S&P/Case-Shiller U.S. National Home Price Index, released yesterday. The index, which covers all nine U.S. census divisions, recorded a 3.6 percent improvement in the second quarter of 2010 compared with the second quarter of 2009.

    In the second quarter of 2010, 64 percent of first-time buyers could afford to purchase an entry-level home in California, according to the First-time Buyer Housing Affordability Index published by the CALIFORNIA ASSOCIATION OF REALTORS®.

    The median price of an entry-level home in California was $266,750 in the second quarter of 2010, with an estimated monthly payment of $1,470, including taxes and insurance.

    The minimum household income needed to purchase an entry-level home in California in the second quarter of 2010 was $43,960.

    Interest rates are at their lowest. I’d say things aren’t as “bad” as we can perceive. Everyone’s situation is different and that is what makes my career so exciting. Whether it is the right time to invest, buy your dream home, down-size, or sell to move closer to family. If you are struggling and need confidential options... you are not alone. I can help you too.

    I promise to help in any/every way I can.

    Helping you build your dreams
    Danielle Ervin
  • The market can be confusing...

    Posted Under: Home Buying in Brea, Home Selling in Brea, Foreclosure in Brea  |  August 27, 2010 9:40 AM  |  477 views  |  No comments

    To say the least right now. With short sale, foreclosures, HAFA, loan modifications, negotiations, lending rules... it's enough to make you dizzy. The market can be tricky to navigate and most buyers/sellers are so leary of what is to come. Having a trusted Realtor and advisor can make all the difference......
  • It's a buyer's market BUT.......

    Posted Under: Home Buying in Brea  |  August 22, 2010 7:25 PM  |  471 views  |  2 comments
    A week in Oregon and a sinus infection later it really takes it out of you :) I haven't been able to post any blogs in a while... I brimming with things to say....

    So here goes one....

    Don't think that means you can come in with low offers and demand everything. There is the inventory on the market right now that has been growing for the last couple months. Indeed more bank owned properties and short sales have been hitting the market. As well as some gorgeous regular sales.
    But sellers are still smart and hanging onto every penny they can get. Most properties are priced very well right now.. and while prices have seen a small climb in OC.... they are still WELL below where they once were.
    It's a great time to invest(I have found some INCREDIBLE investments recently) or buy that dream home! But come prepared...... have you lending ready to go. Give your lender what he/she needs to formulate a STRONG pre-approval. Have you funds for downpayment and closing ready to go. Be able to show proof of them. Don't start making other big purchases... no car or big purchases until after you officially close. Lenders are strict .. they will comb through all of your finances and credit history.
    I see incredible deals out there every day and I would be honored to help you find that perfect home!
    There are many qualities and skills that go into being an excellent real estate agent. From experience, I’d say the most important is the ability to discover and address the diverse needs and concerns of my clients.
    Being able to listen and respond to my clients' needs is the essence of good service, and everything I do serves this objective.
    Please keep in mind that my ability to help you find your dream home is dependant upon understanding your particular needs and wants in detail. 
    Have a wonderful day, and I hope to hear from you.

    Helping you build your dreams

    Danielle Ervin

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