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90404 : Real Estate Advice

  • All13
  • Local Info1
  • Home Buying5
  • Home Selling1
  • Market Conditions0

Activity 141
Thu Apr 16, 2015
Eric H. Wong answered:
I am sorry you feel your agent gave you unethical service.
Yes, the California Department of Realtors does have a process foe lodging complaints, and they take it very seriously. Go to their web site and it will provide you with the information you need.
I would also urge you to speak with your agent's manager. This might provide you with a faster resolution to your unhappiness.
Good Luck
... more
0 votes 15 answers Share Flag
Wed Jan 14, 2009
Jonathan James answered:
Thu Aug 28, 2008
Kevin Keyser answered:
You may indeed be crazy... only a licensed psychiatrist or psychologist could tell you for sure. But as far as buying homes go, it is not crazy to offer 10% below list price. Not crazy at all. In fact, many sellers are building in some "breathing room" in their prices anyway, since a lot of buyers are offering below asking price. That does not mean they will agree to your offer. They might get higher offers. But you can always try. I would say you should take advantage of those benefits and buy a place that is within your budget. You will be building equity over time, and can take advantage of the many tax benefits of home ownership. If you were renting a place for 5 years at, let's say $4,000 a month, at the end you would have spent $240,000 on rent and what would you have to show for it? You would just be paying your landlord's mortgage while he or she builds equity. Plus with those benefits it seems like your company is really helping out. So don't be crazy...take advantage of those benefits. ... more
0 votes 3 answers Share Flag
Fri Aug 22, 2008
Monique and Joe Carrabba answered:
Hello Boobicat,

Are you an agent about to take their license or are you working on a degree? If you are looking at getting your license let me know via email as I have some other suggestions for you. Usually, financing is confidential. If you are researching the property from an appraisal perspective you might be able to call the selling agent and let them know you are doing research and they might let you know if their were any financing concessions. The sales price might have included other concessions such as credits for repairs. Don't hesitate to call the selling or listing agent and let them know you are doing appraisal research as most agents are cooperative with giving you concession data for comps.

Good luck!

Best,

Monique Carabba
Eco Broker and Realtor
Keller Williams Wilshire
The Reavis Group
mcarrabba@kw.com
... more
0 votes 2 answers Share Flag
Wed Nov 26, 2008
Monique and Joe Carrabba answered:
Hey Tom,

Once the offer is accepted the seller can not accept another offer. If the agent has that represents the seller has confirmed they have a signed acceptance that should be enough to ease your concerns. It is the agent's duty to deliver the signed acceptance from the seller to the buyer (if they are also representing them) or the buyer's agent.

Best,

Monique Carrabba
The Reavis Group
Keller Williams Wilshire
mcarrabba@kw.com
... more
0 votes 2 answers Share Flag
Sun Aug 10, 2008
David Krecker answered:
Lori !!!!

Let me know which unit your interested in.

send me the address and as a agent and state licensed appraiser I'll tell you what its really worth, not what they are asking.....

I am willing to be the realtor of choice for you if you do not already have one. It is of no cost to you. You can send me an email and give me your contact information. I can email you homes in your price range and go from there.

I look forward to working with you. And, if you already have an agent, I wish you the best of luck in your home search!

David Krecker, BSBA, SRA, MRA
Centuryside Real Estate Inc.
David Krecker
Broker/Owner/State License Appraiser
Office 562-690-6987
Fax: 562-690-7337
Serving the areas of Orange County, Los Angeles County, San Bernardino, and Riverside.

Email: dave@centuryside.com
Website: www.centuryside.com
... more
0 votes 2 answers Share Flag
Mon Aug 12, 2013
Dot Chance answered:
Idelle, being on CL and Westside Rentals will probably get you more serioius traffic than the open house. Being on the MLS will broaden your pool of potential renters.
0 votes 7 answers Share Flag
Tue Jul 8, 2008
Randy Romero answered:
Are you trying to purchase this condo yourself? I would need more detail on this matter.
0 votes 6 answers Share Flag
Sun Oct 31, 2010
Karen Miller answered:
John,

Your Realtor needs to advise you about price. Make sure you're at least 10% below the closest comp currently on the market.

Best of luck,

Karen MIller
0 votes 10 answers Share Flag
Tue May 27, 2008
Frank Diaz answered:
Yes. You will have repeat costs for escrow though. Try to make an arrangement with escrow to get 1/2 of the one-time costs. They have to redo taxes, title, all the paperwork again, even if it's a month later.

Your financing will be a breeze, nice work! You may be surprised though, talk to a few lenders. If you have over 50% down, they can often close in a week or less. I know a few California lenders. Call or email if you need one.
... more
0 votes 9 answers Share Flag
Thu May 22, 2008
L.A. Real Estate Group answered:
Hi Dennis,
I recommend checking out Craig's List and www.rentslicer.com for such opportunities.
Good Luck to you,
Lou and Alex
LA Real Estate Group
info@myLARealEstateGroup.com
www.myLARealEstateGroup.com ... more
0 votes 1 answer Share Flag
Thu Aug 19, 2010
Lucas answered:
There really aren't all that many listings for foreclosures in SM.... and those that are decent deals get scooped up by those that see them first, like appraisers, real estate agents, and inside investors. ... more
0 votes 9 answers Share Flag
Tue Apr 9, 2013
Monique and Joe Carrabba answered:
Hello San Dee,

The stats I have for Santa Monica are for Santa Monica as a whole and not just Ocean Park. The median price in Santa Monica currently for a condo is $630,000 compared to $780,000 last year. WOW! Sales are down from 2007. As of February 2007 there were 61 sales compared to YTD February 28 it was 43. Sales are down and prices are lower. Ocean Park is a great location and will always be desirable.

Best,

Moniqiue Carrabba
... more
0 votes 7 answers Share Flag
Sat Mar 26, 2011
Perry Henderson answered:
FORECLOSURE REALITY CHECK.... Seasoned investors who buy foreclosures know the REO manager at the bank and get "off market" deals. They never have to bid or find a place to learn what's available.

FOR ALL OTHERS: The only "sellers market" in america is the foreclosure market. Don't expect any deals from a foreclosure as the bidding process brings 20-30 people to bid on almost every deal. A deal that was already priced at market. For government foreclosed homes, by law, they have to be priced "at market".

The REO manager has a short list of "cash/close in 2 day buyers", they always get the first right to bid. Then they have to wait for the "public auction" Which drives up those prices. After a 30-60 day period. Then the REO picks the best bid. Sometimes, only sometimes does a REO manager take a property directly to a buyer he knows peronsally. Why should he, he has a bunch of people bidding and driving up the prices.

My REO manager friend likes to joke about all the "first timers" who continue to drive up the bid when they don't hear anything from the bank. Every time I see the "how come I haven't heard from the bank about accepting my foreclosure bid after 30+ days" on trulia, I have to let out a chuckle because he's so right. For those newbies, this is real. They know that when you don't hear from them that a large percentage of people drop a second or third offer higher than the previous one. **WARNING, YOU ARE BEING TAKEN ADVANTAGE OF HERE**

You want a deal on a property right, everyone wants that.... So the moral of this story is:
1. the 60 days you have to wait to hear from a REO, you could have made 2 or 3 better deals with a property that has been on the market for a long period of time. Any realtor can help you drop a crazy offer.
2. You are attempting to make a deal in a house covered in a cloud of bad energy, don't be surprised when it rubs off. Personally I stay away from these for this reason entirely.
3. One way to get a deal is dropping a hand written note on ANY house in a neighborhood you want to buy that says "my girlfriend and I want to buy a house in this neighborhood and yours looks cute from the outside. Do you know anyone that is looking to sell?" I always get responses, better prices and positive energy into the home.
... more
0 votes 6 answers Share Flag
Tue May 8, 2012
Ray Lyon answered:
I agree with you but prices have been picking up.Now being 2012. I looked at 4 properties on brokers caravan and they all were in multiple offers. It was priced at 2.1 million after they became more realistic and the CAP was 4.68% which is respectable in Santa Monica.

Ray Lyon
310-993-1065
Ray@RayLyonRealty.com
www.raylyonrealty.com
... more
0 votes 1 answer Share Flag
Tue May 20, 2008
Jackie Blankenship, M.B.A. answered:
Lucky, you. My home town, I LOVE Santa Monica. Well, congrats on your new job. What's "relatively" inexpensive? House or apt? Anywhere near Santa Monica will be very expensive. Even surrounding areas, West LA, Westwood, Brentwood are expensive too. If you want to stay in Santa Monica, places near SMC (santa monica city college) is probably your lowest priced housing available (if available). There are houses there too. In Santa Monica, it goes like this, anything north of Montana most expensive, then north of Wilshire, then north of Santa Monica and lowest is south of Pico.

Right outside of that area, check out Mar Vista and Culver City, a little further south, not as hip and nice and you will hit traffic to and fro, but it might suit you, again 'inexpensive' is a relative term. Good luck and hope you find a nice place!
... more
0 votes 6 answers Share Flag
Mon May 26, 2008
Lawrence answered:
Hi Jan,

It might not be in the MLS, but here is the Trulia page for that property listing:
http://www.trulia.com/property/1042880005-1531-Stanford-St-Santa-Monica-CA-90404
0 votes 4 answers Share Flag
Mon Sep 30, 2013
Edyn Real Estate answered:
Trulia is not an affiliated with local MLS.(however, there working with some in New York.) Trulia is feed aggregator for brokers and agents of their listings. Many brokers or agents have to upload their listings themselves to Trulia as their local MLS will not. ... more
0 votes 10 answers Share Flag
Sat May 12, 2007
Sacha Radford answered:
Shopping in Los Angeles is divine! One can find anything they want in this city. There are numerous streets with miles of boutiques as well as wonderful indoor and outdoor shopping centers, farmers markets in every neighborhood, exotic imports, plus very high end shopping in areas such as Beverly Hills on Rodeo Drive. Most of the world's most famous designers have stores in Los Angeles. Some of my favorite places to shop include: Montana Ave. in Santa Monica, Roberston Blvd. in Beverly Hills, 3rd. St. Promenade in Santa Monica, West 3rd. St. in the Miracle Mile area, The Grove in the Miracle Mile area, the Malibu Country Mart in Malibu, Topanga Canyon shops in Topanga Canyon, Abbot Kinney and Main Street in Venice Beach, and the Beverly Center and Rodeo Drive and Beverly Drive areas in Beverly Hills. Luxury and natural grocery stores such as Trader Joes, Bristol Farms, Whole Foods, Wild Oats, etc. are all over town and one never has to look far to find organic foods--especially at the local farmers' markets. ... more
0 votes 2 answers Share Flag
Mon Jan 17, 2011
Sacha Radford answered:
We have lots of great parks in Los Angeles. One of my favorites is the Laurel Canyon Dog Park which is over 3 acres and is studded with lovely trees spread out over gentle rolling lawns. A great place to take the paper and watch your dog have a ball! Probably the best urban outdoor area is Runyon Canyon in the Hollywood Hills--it has the most incredible view of the city by far--from the ocean to downtown and everything in between! Dogs can run off leash, and it's a great workout for the humans too! Running paths, hiking trails, outdoor yoga, views...and lots of celebrity spottings! There are numerous beaches and small public parks laced are throughout the city. My favorite beach is Temescal Canyon right at the foot of Pacific Palisades. Malibu is a dream too! ... more
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