Home Buying in Pasadena>Question Details

Kelly, Home Buyer in Pasadena, CA

I'm looking for a sharp buyer's agent with short sale experience in Pasadena, CA. What's the best way to find one?

Asked by Kelly, Pasadena, CA Tue Feb 15, 2011

It seems that many agents are unwilling to go through the hassle of dealing with a short sale unless you have a giant pile of money to spend -- the more expensive the house, the better the commission, right? I have only a small pile of money. (Small by Pasadena standards, but it took me a looooooong time to save it up.) My max list price is about $300,000 with 20 percent down. How can I find an agent willing to work within these limits?

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Answers

8
Hi Kelly,

I've had very recent success in that price range with short sales. First thing's first though, there is not a huge selection at that price point and you have to have some flexibility with regards to size and location. The whole process is all about patience. For your specific situation it will take two doses of patience; one for the search, and the second for the short sale approval process. Good thing is you have a solid down payment and that will open up options for you. I am very successful in strategizing offers, the search process, and with informing people about what to expect. I also have all the resources you will need to optimize results. If you have not already found someone you are comfortable working with, I would appreciate the opportunity to speak with you more about it and offer help where I can.

Sincerely,

James Stevens
Realtor, SFR, MBA
Re/Max Tri-City
(818) 636-9394
Email: james@jlsrealestate.net
Web: http://jlsrealestate.net/
0 votes Thank Flag Link Fri May 18, 2012
Hi Kelly,

First, kudos to you for making the sacrifices necessary to save enough for a 20% down payment. Certainly, that makes you a stronger buyer than if you were trying to purchase a home with a standard 3.5% down FHA loan. In your price range it is fairly common these days to be competing with cash buyers and investors. That does NOT make it impossible to buy, it simply requires more patience on everyone's part. Many of my clients are first time buyers like you and I am extremely patient. I devote myself to making sure each and every client ends up in a property that is right for him or her, whether than is a $300,000 home or a $3,000,000 home. Each and every client is important to me.

My suggestion is to interview a few agents so that you can find one that you like and feel comfortable with. I encourage you to visit our website at http://www.dreamhomelink.com for more information about the various Pasadena neighborhoods and the home buying process. I can be reached at (626) 487-3678 or by e-mail at jan@dreamhomelink.com.

Best of luck to you, I hope you find your dream home:-)!
0 votes Thank Flag Link Sat May 12, 2012
Hi Kelly,

If $300k is impossible for what you are looking for in Pasadena then you may not be able to find a Realtor to spend the 6 months it may take before they get a paycheck.

Good luck on your search.

All the best,
Alma
0 votes Thank Flag Link Tue Feb 15, 2011
Kelly-

I have successfully closed short sales and commend you on the fact that you have saved what you have and are moving forward-many never do. The short sale is a process, sometime a very s l o w process. You not only need agent to help you through that process, but one that has the resources to help you aqcuire the house even if it is too late and the property goes to auction - which unfortunately happens all the time. Most agents drop the ball there and start all over again,

Please feel free to follow up with me at the office. I will gladly show you how this works.


Scott W Burch
KW Residential/Commercial Associate
Ph 626.840.1111 Cell
Ph 626.204.3300 Office
Fax 626.204.3400
sburch@kwcommercial.com
http://www.mydstplan.com/reducetax
0 votes Thank Flag Link Tue Feb 15, 2011
Well that would be hard just knowing the Pasadena market! I have dealt with Short Sale and basically what it comes down to is patience. The can take time and if the agent on the other end is not following up with bank could cause more delays! I had a escrow in Los Angeles for a pair of units that lasted almost a year, but he finally got them and was very happy! I think sitting down and figuering out the pluses and minus of your needs would be the first place to start! I hope this helps! Other surrounding good areas and not as expensive that you might consider also? I hope this helps, need help call me.
0 votes Thank Flag Link Tue Feb 15, 2011
1) That's not a small amount of money, that's a great accomplishment saving that up and being ready to purchase a property.
2) It sounds like you haven't been talking to the right agents. The right agent will give you time and the attention you deserve regardless of price. And if a shrot sale is the right property for you, the agent will stick by you with the short sale and help you get your offer accepted and the short sale closed. Even though the sellers agent is usually the one processing the short sale, a buyers agent with the right connections can help move it along. For example, I have upper management connections at most of the major banks, and I've helped get my buyers' short sales approved. I also always follow up with the selling agent to ensure things are moving along properly.
3) The right agent will take the time to explain everything to you, be there to answer any questions, and show you as many properties as needed until you are confident you have found the RIGHT one for YOU.

I would be more than happy to meet with you and show you how I work, and can give you the agent experience you deserve!

Best of luck in your property buying endeavors,

Richard Schulman
Keller Williams Realty
#1 Buyers Agent, KW Los Angeles Region 2009-2010
(310) 482-0173, schulmanrd@yahoo.com
0 votes Thank Flag Link Tue Feb 15, 2011
Hi Kelly,

I work with buyers in the Pasadena area & have no problem helping clients in any price range - I am also a certified by the National Association of Realtors as a Short Sale & Foreclosure Resource (SFR). As a buyer, the short sale is not necessarily a hassle, you just have to be prepared for a possible long wait for a response from the bank and have to have patience. I show my clients both short sales and regular sales - in many areas short sales account for half the properties on the market, so an agent not wanting to deal with them are doing their clients a disservice. Congratulations on saving up for your down payment - having 20% down is a substantial amount. If you have any questions or would like to talk further, please feel free to call or email me.

Thanks, have a great day. Good luck with your house hunting!

John Barry
DRE #01856079
Coldwell Banker Residential Brokerage
Cell: 323-810-7976
Email: john.barry@coldwellbanker.com
Facebook: http://www.facebook.com/RealtorJB
Twitter: @RealtorJB
0 votes Thank Flag Link Tue Feb 15, 2011
My partner and I work with many different kinds of Buyers and together we've worked on many Short Sales. If you'd like to schedule some time to sit down and chat with us about what you expect and let us give you an idea of what to expect in this market, let me know. We're always happy to work with new Buyers!
0 votes Thank Flag Link Tue Feb 15, 2011
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