http://www.trulia.com/voices/profile/Real_Estate_Pro-90266-3631/The latest answers submitted by Kaye Thomas/ Real Estate West to questions asked on Trulia Voicesen-ushttp://www.trulia.com/voices/Home_Buying/How_is_it_prices_in_some_areas_like_Manhattan_Beac-21813Answer by Kaye Thomas/ Real Estate West: If you haven't found a home yet then you may find that prices in Manhattan Beach are finally coming down. Prices have decided about 20% overall. Most sellers have realized that we are in a changing market and there are some deals to be had in Manhattan Beach. Now that doesn't mean prices are not still on the high side... they are. Prices in most beach communities are well above those in surrounding communities. The good news is that lower prices and the return of jumbo loans to the market mean a buyer who wants to buy now may just find a deal or two or three.Thu, 9 Apr 2009 16:16:03 PDThttp://www.trulia.com/voices/Home_Buying/tow_weeks_before_closing_the_broker_tells_me_I_hal-89399Answer by Kaye Thomas/ Real Estate West: Avery, It is doubtful the debts can be rolled into your loan at this point. If you paid the old debt then you will need to get it removed from your file. If you never paid the debt you are going to have to pay as it will always show up on your record. Depending on the amount of the debt and the situation you might see if the sellers would consider paying some of your closing costs. If the loan is not an FHA loan then you might try an FHA with a lower down payment. If your lender can't come up with a solution then you may need to cancel escrow. Hopefully you have not released the loan contingency. Good luck!Mon, 16 Feb 2009 20:44:13 PSThttp://www.trulia.com/voices/Home_Buying/Can_we_get_a_new_home_loan_with_explained_circumst-89171Answer by Kaye Thomas/ Real Estate West: Steve and Tony are correct. Times have changed and lenders are being very hardlines about making loans. The time frame has been 3 years if you have a foreclosure but I'm betting that this time it may be longer before a lender will make you a loan. You may find that you need quite a bit of time to get your finances in order. There are new rules at Fannie and Freddie so you will also need to boost your FICO scores to well above 700 if you want a loan with a decent rate and lower mortgage costs.Mon, 16 Feb 2009 15:51:38 PSThttp://www.trulia.com/voices/Home_Buying/When_a_property_is_pending_sale_does_the_property-89303Answer by Kaye Thomas/ Real Estate West: Hi Juan, The answer to your question may depend on the rules of the Board of Realtors/MLS in your area. In the South Bay in LA County a listing is supposed to be marked online as pending , contingent or back up offer accepted as soon as an offer is accepted. If the property falls out of escrow it is usually immediately returned to the MLS as active. The agent usually puts up a sign stating that the listing is "pending" or "in escrow" . Often the signs are remoced from the for sale sign..usually by neighborhood kids.Mon, 16 Feb 2009 15:43:25 PSThttp://www.trulia.com/voices/Home_Buying/HOW_DO_WE_GET_TO_LOOK_AT_HOMES_THAT_ARE_BEING_FORE-75210Answer by Kaye Thomas/ Real Estate West: Hi Randy, Almost all foreclosed properties wind up listed with an agent so you can use a local agent you like. The process of foreclosure can take a long time ... often up to 6 months or more to complete. Until the home has is owned by the bank ( the foreclosure process has been completed) you must still deal with the owner of record. If the home is listed then you it is easy to see. If the home is not listed then you might try to contact the current owner at the property address. However many owners who are in the process of foreclosure are in deep denial and will not talk to you as they are hoping to save their property until it actually goes to sale. Once the property has gone to sale you can contact the lender but most lenders will not talk with you immediately but will wait until they complete an inspection and have at least 2 appraisals of value. Then they usually list the home with an agent who specialized in foreclosure properties. Most of these homes wind up on the MLS just like properties that are not in foreclosure. You might want to find an agent who specializes in foreclosure properties and has a relationship with lenders in your local market.Fri, 26 Dec 2008 12:59:14 PSThttp://www.trulia.com/voices/General_Area/Does_anyone_live_or_know_of_someone_who_lives_in_Y-44601Answer by Kaye Thomas/ Real Estate West: Hi macy, I would contact Lynda Eisenmann.. she has lived in the area for many years and knows it well.. Check out her blog in the link below.. I think you will learn a lot about the area..Mon, 7 Jul 2008 15:33:53 PDThttp://www.trulia.com/voices/Home_Buying/Is_anyone_flipping_houses_in_LA_-25049Answer by Kaye Thomas/ Real Estate West: There are investors who are trying to "flip" immediately most sav vy investors are using this time to stockpile property in good areas for the future. The smart investors know that there are bargains to be had now and the rental market is good in your more desirable areas. Interest rates are still low but will be going up in the future so investors are taking advantage of low rates for 5-7 year holding periods. They will then go in and rehab the properties and put them on the market a few at a time. However.. these are people with the financial resources to back them in case they need to wait for a period of time. If you do not have the financial backing to hold properties for at least 5 years I would not recommend trying this avenue of real estate investment. Successful flipping takes financial backing. If you are trying to do it on a shoestring budget you will probably be in trouble.Tue, 10 Jun 2008 08:47:20 PDThttp://www.trulia.com/voices/Home_Buying/removed-39734Answer by Kaye Thomas/ Real Estate West: Culver City is nice and they have their own school district.. you might also consider the South Bay. and the Beach Cities.. The commute is short and most cities have their own school districts which rate very high on the school rankings listMon, 9 Jun 2008 10:53:19 PDThttp://www.trulia.com/voices/Foreclosure/How_can_I_locate_a_RE_agent_that_specializes_in_fo-14657Answer by Kaye Thomas/ Real Estate West: Mona, The best foreclosure agent I know is Leo Nordine..and he is a good guy.. He has properties all over. However foreclosures are not always the bargain they may appear to be. You might want to check out the link below as it discusses buying foreclosures.Mon, 9 Jun 2008 10:47:42 PDThttp://www.trulia.com/voices/Home_Buying/for_resale_value_is_it_better_to_-40137Answer by Kaye Thomas/ Real Estate West: Rachel, It's LA ..so always go for top floor and view.. BTW..there are some fabulous floor coverings that can pizazz to a unit.Mon, 9 Jun 2008 10:43:22 PDThttp://www.trulia.com/voices/Home_Buying/Should_I_rent_and_wait_to_buy_for_another_year_-40229Answer by Kaye Thomas/ Real Estate West: Danielle, The best time to buy is when you are need to buy. Real Estate is local.. especially in LA County.. some parts of LA County are seeing big price reductions while other areas ( South Bay Beach Cities) have seen significantly smaller price declines. Interest rates should be of concern. A 1 % increase in the rate is equal to about a 10% increase in the price. There is a theory that waiting for bigger price reductions is more important then the interest rates as you can always refinance but that isn't always true. If rates go up you may not be able to refinance to a lower rate for a very long time. Right now you might just get a pretty good deal with rates still fairly low and many motivated sellers ready to l negotiate price. California real estate in prime locations has always been a good investment over the long term. The key is long term.. so if you know your market, negotiate well and get a good rate there is no reason not to buy now. Good luck..Mon, 9 Jun 2008 10:37:31 PDThttp://www.trulia.com/voices/Foreclosure/Regarding_REO_s-26063Answer by Kaye Thomas/ Real Estate West: Back property taxes can be an issue and are not always paid. A bigger issue is a tax lien from the IRS on the property.. foreclosure will not clear those and you could be liable for paying off monies owed by the former owner. Foreclosures are not always the "deal" people believe. You have to be very diligent in checking all aspects of the propertyFri, 14 Mar 2008 10:12:01 PDThttp://www.trulia.com/voices/Home_Selling/My_agent_has_a_key_lock_box_at_my_property_but_is_-26055Answer by Kaye Thomas/ Real Estate West: We use lock boxes on almost all listings in our area. We rarely have the issues you have described because most agents understand the guidelines which is apparently not true in your area. Vicki's idea about the portable box is good. Here is another idea. In order to get the combo to the box an agent must call your agent and you agent has to set the appointment time with you.. then he can give out the combo information. He should have a special combo for the box not the one it came with. Your agent should put in the listing that all viewings are by appointment only and that an appointment must be made at least 1 hour in advance. If your area uses supra boxes have one of those installed and have it set up with specific showing times. If anyone shows up without an appointment tell them they have to contact your agent before they can show the property. You want agents to have access but you also have rights. This is something you need to discuss with your agent... immediately.Fri, 14 Mar 2008 10:05:44 PDThttp://www.trulia.com/voices/Foreclosure/If_a_bank_takes_a_home_from_someone_that_was_tryin-22165Answer by Kaye Thomas/ Real Estate West: A property that has been foreclosed is often termed an REO.. which means owned by the bank. That is not to say that a private party could not have foreclosed on a property if the had the loan.. and the property would then also be termed REO... real estate owned. It can take between 6 months to a year before a bank is ready to market a foreclosed property. Banks typically list their foreclosed properties with a REALTOR and will not even talk to a private party unless they are a preferred bank customer.Wed, 13 Feb 2008 17:48:13 PSThttp://www.trulia.com/voices/Market_Conditions/is_the_real_estate_market_in_playa_vista_a_good_in-22193Answer by Kaye Thomas/ Real Estate West: Over the long term Playa Vista will probably turn into a pretty good investment. The problem with Playa Vista is that you can buy in a number of areas that are in a better location and less expensive then Playa Vista. We are not used to Mello Roos being part of the equation in a purchase and many buyers are balking at the steep fees. Especially when they have to deal with LA City schools. You can often find a better deal in one of the South Bay cities that have their own school districts and are in a better location..Wed, 13 Feb 2008 17:41:21 PSThttp://www.trulia.com/voices/Parks_and_Recreation/Can_I_take_my_dog_with_me_to_Live_Oak_Park_-19915Answer by Kaye Thomas/ Real Estate West: Rebecca is right you can take them to the dog park but not into any grassy areas. However you can walk with them on the jogging path which is wonder ful for dogs.. You can also walk with them on The Strand which is nice for you..Thu, 24 Jan 2008 14:04:29 PSThttp://www.trulia.com/voices/Foreclosure/DO_YOU_THINK_THE_MEDIA_HAS_A_NEGATIVE_AFFECT_ON_TH-19625Answer by Kaye Thomas/ Real Estate West: Bill, The media has a huge amount of influence on the real estate markets.. As noted by others here real estate is local and you can have entirely different markets 1 mile from each other. The media tends to lump all "real estate" into one pool and makes assumptions from there about the total market. Consumers don't realize that because something is happening in Riverside CA that the same thing is not going on in Beverly Hills. When agents try to point out the discrepancy we are labeled as greedy and unscrupulous because we are not repeating the mantra.Tue, 22 Jan 2008 18:18:14 PSThttp://www.trulia.com/voices/Financing/why_fees_are_bigger_when_rates_are_lower_-19647Answer by Kaye Thomas/ Real Estate West: If you are talking about points on a loan it is because lenders have a certain "rate" they need to meet to sell loans.. that rate is called the APR or in layman terms the total rate. In order to meet the rate demanded by investors the difference may be made up by using points. This is really a simplistic answer.. but OK for illustrative purposes...If you are looking at a loan rate of 6% but the investor wants to see an overall rate of 7% then there is typically 1 point origination fee. By adding the one point to the existing rate the lender receives the rate of return they are looking for.Tue, 22 Jan 2008 18:07:55 PSThttp://www.trulia.com/voices/Home_Selling/removed-19634Answer by Kaye Thomas/ Real Estate West: Cindi is right. If you live in an area you love then you want all your friends to live near you. Of course the opposite is also true.. if you live in an area you "hate" then you may be even more vocal and deter friends from moving there.Tue, 22 Jan 2008 18:02:35 PSThttp://www.trulia.com/voices/Home_Buying/Question_about_making_an_offer_and_the_counteroffe-19657Answer by Kaye Thomas/ Real Estate West: I think Liz offered good advice if you are the seller. But I am curious.. as you list yourself as a home buyer. Is the offer your offer and the seller has resent you the counter? If you decided you did not want to accept their counter you can not answer it, or write a counter to their counter. If you don't respond the counter is dead but then so is your original offer.Tue, 22 Jan 2008 14:27:06 PSThttp://www.trulia.com/voices/General_Area/Is_anyone_flipping_houses_in_LA_-19637Answer by Kaye Thomas/ Real Estate West: Johnny, Now is not the best time to be flipping a home.. but it might not be a bad time to buy and hold for a bit. The guys that make the most money flipping are not necessarily flipping something they bought last week. Often these guys buy at a good price with a cheap loan.. hold for bit and then fix the property up to move as the market begins to move upward. Real estate is a long term investment. However the guy that controls the real estate will do well when the market begins to move upward.. and it will. Check out rates next week after the FED lowering of the discount rate has an opportunity to take hold... a 1% decreasse in the interest rate makes a big difference.Tue, 22 Jan 2008 14:19:08 PSThttp://www.trulia.com/voices/Foreclosure/I_just_went_through_a_divorce_and_I_ended_up_stay-19659Answer by Kaye Thomas/ Real Estate West: Terry, I feel for you.. way too many women wind up in this fix. My first question is whether or not you have any equity. If you have almost no equity then you may need to consider a short sell. It will save your credit and get you out from under huge payments. If there is equity then you are in a better financial position. If you have parents who could help you qualify you could put them on title for a short time until you get the home refinanced. Then after a year you could have them quit claim the property back to you.. they would still be on the loan but the property would again be in your name. Then in the future when you are able to qualify by yourself you could refinance and take them off the mortgage completely. If that is not a feasible solution you do not want to chase the market down. By chasing the market you could lose all your equity. Now is when you need to sit down with your agent and have a serious talk about the market, your home and price. If the price is good and the condition need help talk about the things you can do to make your home show better for the least amount of money. If the home is in good condition and your price is too high.. then you are going to have to bite the bullet and set the price where it has a good chance of selling. Taking a $15k hit all at once is usually better then having to taking a lot of $5000 hits and seeing home prices continually declining more then your level. Look at pending sales.. see where the homes like yours are selling and price you home slightly below the last sale. It will be cheaper and save you more money in the long run. Good Luck!Tue, 22 Jan 2008 14:12:52 PSThttp://www.trulia.com/voices/Agent2Agent/Does_this_picture_make_me_look_unprofessional_-19521Answer by Kaye Thomas/ Real Estate West: Glenn, Depends on your clientèle.. if you are dealing with a lot of young hip clients.. they may find it more refreshing then the professional head shot. If you are dealing with an older crowd then the answer is yes.. you look like one of their kids..Tue, 22 Jan 2008 13:52:52 PSThttp://www.trulia.com/voices/Home_Selling/_Expert_Advice_Needed-18430Answer by Kaye Thomas/ Real Estate West: The articles referenced by Matt and Teri offer valuable information. A word of caution anytime you are "going around" the basics of a 1031 is to talk with a tax specialist who really knows 1031 exchanges as these can be very tricky. Depending on what you want to accomplish sometimes it may make tax sense to not do a 1031 exchange on a property but to sell it outright. By taking back the mortgage you can defer taxes to be paid to the portion of monies you receive each year if you do an installment sale. Sometimes if you have a very low basis in a property an installment sale can make sense but you need to consult with your CPA. What ever yoiu choose to do be sure to get advice from a qualified 1031 CPA or tax attorney. This is one area where you don't want to make any mistakes as they can be very costly.Sat, 12 Jan 2008 08:41:08 PSThttp://www.trulia.com/voices/Using_Trulia/Should_Trulia_advise_consumers_not_to_use_their_fu-18439Answer by Kaye Thomas/ Real Estate West: Ruth... You are right about a person's "real name" and the internet. The truth is that anyone who posts anything anywhere on the internet has left a permanent record. This is something that consumers and agents need to think about..especially when threads get a little contentious. This is not just the information age.. it is the permanent record age. Consumers should be very careful deciding about the information they want others to have.Sat, 12 Jan 2008 08:21:53 PST