MVP'08
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About Me
We have owned rental property for over 18 years and the time came to sell a rental house in Portland, Oregon. We did everything you are supposed to do: we interviewed a couple of agents, hired the best one, went back to Glendale, then....she vanished. No returned call, emails, zip. Then we tried to hire another agent, through various referrals, long distance. The experience was so frustrating. One agent sent us a CMA...it was a two line email. "I can sell you property for $XXX,XXX, in so many days." That was it, period! I was so frustrated that I decided to migrate to the retail side of real estate, and vowed never to let the people whom I serve go through what I did. I work primarily with people who know me and from clientswhom they refer. The benefit to my clients is I work very hard to make sure that they are pleased with the results achieved, so I earn their trust and confidence. So I am not in the real estate business. I am in the business of earning my client's trust. By focusing on my client's need (to achieve their goals), I succeed through my client's success.
Testimonials
"Keith thank you for your RESPECTFUL and well thought out answer. You chose your words wisely yet you were able to communicate they same information some of your peers did with out insulting the me, the potential customer. As a Realtor your job is to educate, not simply to focus on the bottom line.
I wish you well in your business. May God bless YOU!"
Alicia C. Wed Aug 27, 2008
Alicia C. Wed Aug 27, 2008
""Keith helped my mother and father sell their home and did a wonderful job. He is very professional, courteous, and an expert in the local market. He made sure that my parents were treated well and I would not hesitate to recommend him to anyone thinking of buying or selling." Ruben Vassolo, Real Estate Attorney"
Keith Sorem Mon Apr 21, 2008
Keith Sorem Mon Apr 21, 2008
""Keith did a great job for my family and me. We sold our home in under market time, at over asking price, and because of Keith's negotiating we ended up with more in our pocket than I thought we would. I highly recommend Keith." Diane P."
Keith Sorem Mon Apr 21, 2008
Keith Sorem Mon Apr 21, 2008
My Q&A
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Keith Sorem's Questions (3)
Keith Sorem's Answers (3612)
Keith Sorem answered:
1. Don't move
2. Rent it out
3. Short sale the property
More questions?
2. Rent it out
3. Short sale the property
More questions?
Keith Sorem answered:
M
You are looking at loan fraud. I would delete this post.
Call my broker Oscar 209/609-6322. Our short sale package is already in the works. All we need is someone interested in a great investment! So you can rent back a property that you short sold. Just wait until the property authorities read this.
- I'd let Oscar know that he should be very careful.
You are looking at loan fraud. I would delete this post.
Call my broker Oscar 209/609-6322. Our short sale package is already in the works. All we need is someone interested in a great investment! So you can rent back a property that you short sold. Just wait until the property authorities read this.
- I'd let Oscar know that he should be very careful.
Keith Sorem answered:
Jen
Let's stop and look at the big picture.
You bought the property in 2007.
You bought it with no money down.
We are falling further and further behind.
You don't need to share the facts in this post, but here is the truth:
If you bought a property in 2007, and the value INCREASED 20%, would you be hounding the bank, trying to give them the extra equity?
So now that the " bad loan" that made it possible for you to purchase a home with no money down, based on terms that you suspected were too good to be true, now you want someone to buy the home for more than it's worth so you can "start over".
You need to be real and have professional assistance.
Markets go up, markets go down. There are programs in place to help people that have had bad things happen to them. You might consider looking at http://www.hud.gov.
Just as a hint, these companies are out to make money. Not help you correct your mistakes. Be very careful about expecting a miracle. My personal estimate is that you are going to pay a price, one way or the other.
I would expect you'd have a better chance at a loan modification than anything else. However, you need to qualify for the loan. Full doc.
Let's stop and look at the big picture.
You bought the property in 2007.
You bought it with no money down.
We are falling further and further behind.
You don't need to share the facts in this post, but here is the truth:
If you bought a property in 2007, and the value INCREASED 20%, would you be hounding the bank, trying to give them the extra equity?
So now that the " bad loan" that made it possible for you to purchase a home with no money down, based on terms that you suspected were too good to be true, now you want someone to buy the home for more than it's worth so you can "start over".
You need to be real and have professional assistance.
Markets go up, markets go down. There are programs in place to help people that have had bad things happen to them. You might consider looking at http://www.hud.gov.
Just as a hint, these companies are out to make money. Not help you correct your mistakes. Be very careful about expecting a miracle. My personal estimate is that you are going to pay a price, one way or the other.
I would expect you'd have a better chance at a loan modification than anything else. However, you need to qualify for the loan. Full doc.
Keith Sorem answered:
HB
You need to talk with your Realtor.
I advise my buyer's to make an offer based on the market value of the property, not the asking price.
Look at comparable homes both on the market, and sold, and see what value your Realtor can show you.
If the value is less than the asking price I would include the comp information in your offer. We are having a lot of problems with appraisals, which the lender will know is going to be a problem, so they will appreciate a full and complete offer.
You need to talk with your Realtor.
I advise my buyer's to make an offer based on the market value of the property, not the asking price.
Look at comparable homes both on the market, and sold, and see what value your Realtor can show you.
If the value is less than the asking price I would include the comp information in your offer. We are having a lot of problems with appraisals, which the lender will know is going to be a problem, so they will appreciate a full and complete offer.
Keith Sorem answered:
Rand
I would ask for clarification.
In my MLS there are three Active statuses
1. Active
2. Back Ups Offers - you haven an accepted offer, buyer is still doing inspections, you'd like a back up offer
3. Right of First Refusal - you have an offer, however the offer is subject to another (better) offer being sought. If received then the first offer will have the option to bid higher if they want.
For purposes of a site like Trulia, in all three cases, the status would be Active.
Maybe they have something like that in your MLS.
I would ask for clarification.
In my MLS there are three Active statuses
1. Active
2. Back Ups Offers - you haven an accepted offer, buyer is still doing inspections, you'd like a back up offer
3. Right of First Refusal - you have an offer, however the offer is subject to another (better) offer being sought. If received then the first offer will have the option to bid higher if they want.
For purposes of a site like Trulia, in all three cases, the status would be Active.
Maybe they have something like that in your MLS.
My Blog Posts
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Specialties
Experience has shown me that people need help in making the right choice, so I study the market carefully and analyze trends from different angles. When we sit down to look at a situation, I have the tools to help my clients see the market in a way that they understand, that they know what I know, so they can make the decision that is right for their circumstances.
Helping seniors sell their home and move into the right home is a special passion of mine. When my dad got older we had some pretty challenging times, same now with my father-in-law, so I personally undestand the concerns that families have helping senior parents make the right move.
Homeowners that have purchased their first home and with expanding family needs now need to move to a larger home is an area I work extensively. Helping the family determine their options, whether to keep that first home as an investment, or selling it for the highest price so we can get the most home for the money when they move to their larger home requires time, skill, and dedication.
Investment property should be part of your portfolio. Having owned investment property myself I have the hands on experience to help investors look at the property with the right perspective, run the numbers, then make a logical decision.
Helping seniors sell their home and move into the right home is a special passion of mine. When my dad got older we had some pretty challenging times, same now with my father-in-law, so I personally undestand the concerns that families have helping senior parents make the right move.
Homeowners that have purchased their first home and with expanding family needs now need to move to a larger home is an area I work extensively. Helping the family determine their options, whether to keep that first home as an investment, or selling it for the highest price so we can get the most home for the money when they move to their larger home requires time, skill, and dedication.
Investment property should be part of your portfolio. Having owned investment property myself I have the hands on experience to help investors look at the property with the right perspective, run the numbers, then make a logical decision.
Experience
Latest:
Director of Catering for Red Lion Hotels
Opened the Red Lion Hotel (now a Hilton) in Glendale, CA and directed a staff of 10 with a volume of $2.5 million annually.
June 1991—June 1995
Previous:
General Manager for WR Grace
Director operations in Food Service for Embassy Suites hotel at LAX.
March 1990—May 1991
Previous:
Director of Marketing for KLD Management
Directed marketing for five restaurant chain, increased revenues annually.
January 1987—February 1990
Certifications & Awards
EAgent certification, awarded by Keller Williams
Character and Ethics Award, City of Glendale
Past President of the Rotary Club of Glendale Sunrise
District Membership Chair, Rotary District 5260 2003 - present
MLS Committee, Glendale Associaiton of Realtors
Reciprocal member, Burbank Association of Realtors
Character and Ethics Award, City of Glendale
Past President of the Rotary Club of Glendale Sunrise
District Membership Chair, Rotary District 5260 2003 - present
MLS Committee, Glendale Associaiton of Realtors
Reciprocal member, Burbank Association of Realtors
Interests
Music: guitar, keyboards
Cooking, food and wine
Camping
Downhill skiing
Cooking, food and wine
Camping
Downhill skiing
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