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Home Selling in Orange County : Real Estate Advice

  • All330
  • Local Info10
  • Home Buying180
  • Home Selling26
  • Market Conditions5

Activity 144
Thu Nov 10, 2011
BG answered:
some banks in a certain neighborhood prefers to have ex-owner occupied rather than a vacant home. It would be a great act on your part to assist your client to contact the bank and make such an offer (for free rent). ... more
0 votes 12 answers Share Flag
Fri Nov 11, 2011
Ryan Doll answered:
I know BofA recently came out with there corporate short sale. From what I read I would stay away from it...
0 votes 10 answers Share Flag
Mon Apr 30, 2012
James Wehner answered:

All of the items you listed are incentives you can use towards negotiating if need be. I would just check the comparable sale, see what your active competition is and price it accordingly.

If the home is priced right it will sell without any additional incentives.

Best of luck!
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0 votes 33 answers Share Flag
Mon Mar 14, 2011
Bob Dalsimer answered:
David - are you being represented by an agent? If so, it would be an ethics violation for a Realtor to give advice while a party is under contract with another agent.

Contact your current agent. If not represented, there will be an array of answers here.

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0 votes 7 answers Share Flag
Fri Mar 4, 2011
Scott Bingham answered:

This question should be asked to an accountant or other tax professional. Realtors are not liscensed to give financial advice like this. Look at the profit you would make with a tenant. Then ask your accountant if you will lose money when taxes are factored into the equation.

From everything your saying about the area/community it sounds like a bad time to sell. Most agents won't tell you that because they want to get your listing. It your not losing money on the property I would say keep in until the market improves in 4 - 5 years. If you need the money then put it on the market. You can see everything for sale in Orange County at company website
I hope you found this helpful!

Thanks, Scott Bingham - Beach Cities Real Estate
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0 votes 13 answers Share Flag
Thu Mar 3, 2011
Sally Grenier answered:
That's a pretty general question for an online forum like this. The only way to know for sure is to contact a Realtor in your area who can give you a detailed market analysis. He/she will be able to tell you what homes have been selling for, how long they've been on the market, current inventory, etc. If you need the name of someone, please let me know.

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0 votes 14 answers Share Flag
Thu May 3, 2012
John Souerbry answered:
Yes... If you can't fix it - feature it.
If you have one, or can buy or rent one, put a pop-up tent near the entrance and add extra door mats where people can wipe their feet or leave their shoes. ... more
0 votes 30 answers Share Flag
Mon Nov 22, 2010
Bob Phillips answered:
You didn't mention whether you wanted to keep the property - presumably as a rental - or sell it. If your question is related to your tax position, in making it a rental property vs. your personal residence, for tax purposes, then your question should be directed to a tax specialist, not a Realtor.

If you are merely going to sell the property, there is probably NO gestation period which should affect your sale, except possibly if the loan is FHA, when it could affect your buyer, for the 3 months or so, after it has funded. Bear in mind, I'm not certain on that point - and this should not be considered an authoritative opinion.

Good luck in finding your answers.
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0 votes 6 answers Share Flag
Wed May 2, 2012
Christina Oneal answered:
Hi Evansmom98,
That doesn't sound like a good situation to be in. I highly recommend you ask your realtor in writing (by email or mail or fax) for a few things. One: You need a copy of your listing agreement, your purchase agreement that is signed by all parties & the title companies information of where your escrow is opened.

Even though you are having problems with your realtor, the title officer should be able to tell you some very basic answers. Ask the title officer if the buyers deposit is sitting there. Also ask the title officer when it looks like this escrow will close.

You need to look at your listing agreement & see how long your contract is with that agent. I would ask the agent if they are willing to release you from the contract to sell your house with them.

Maybe your current realtor can make an agreement with you, to release your from your contract if this buyer doesn't go thru.

I might try going to that realtor's broker/boss to see if they can mediate this situation & get them to release your from being obligated to use them.

Coming to an agreement will be better & faster in the long run. Hope you get things worked out soon.
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0 votes 6 answers Share Flag
Fri Jul 15, 2011
Emily Knell answered:
Going through the public tax records to see what has sold within a 1 mile radius around your home, comparables should not be more or less than 15% of the size of your home. Best if matches are within your own subdivision & even better if there have been other sales that are the same model.

I can look this up for you very quickly, shoot me an email directly & I can give you a good report, I get valuations or for banks all the time, so I know how to do this pretty fast.
562-430-3053 cell
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0 votes 13 answers Share Flag
Wed Oct 6, 2010
Cyndi Mino answered:
Hi, Patlea. Are you selling your home yourself and the buyer hasn't been performing as expected? If you are currently working with a Realtor, they will have the forms needed. Call me and tell me what type of form you are looking for.

Cyndi Mino
First Team Real Estate
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0 votes 8 answers Share Flag
Mon Oct 4, 2010
Monir Mamoun answered:
Hi Robert, I don't know the answer but I know some attorneys who DEFINITELY do know SB800. Give them a call and see what they say. Link included below.

If you could use a referral for a FANTASTIC agent in your area, please contact me. I have an experienced associate in/around Laguna Niguel. ... more
0 votes 7 answers Share Flag
Mon Sep 15, 2014
Karen Mashburn answered:
If you are denied a short sale, ask what they need. The Lender probably needs more information than you provided or your reason was not stated clearly enough. Talk to a Realtor who has done at least 5 successful short sales and get them to advise you. ... more
0 votes 18 answers Share Flag
Wed Sep 15, 2010
Tracey Martin answered:
It depends on whether the approval letters were buyer specific. Many lenders/servicers approve the buyer as well as the offer. If the letters received for the last escrow named a specific buyer, then it could take weeks to get new letters. It is almost like starting over. If the letters do not specify a buyer and the offer is pretty much the same, then there is little or no delay. Ask the seller's agent if the lender's approval letters stated that their approval was only for a particular buyer. If they were, then ask if the agent has talked to the bank to find out what their process is when the buyer is being replaced. The seller's agent should be willing to share the information with you. My experience is that switching the buyer, when the first approval letter named a buyer, creates a delay, but it doesn't take nearly as long as it takes to get the first approval letter. ... more
0 votes 2 answers Share Flag
Tue Sep 24, 2013
Thom Colby answered:

It looks like you have it listed with a REALTOR. I suggest you chat with her about ways to gain more exposure and market your home.

Best of luck,

Thom Colby
Broker / Owner & Certified HAFA Specialist
Thom Colby Properties
Newport Beach, CA
Moving Lives Forward (TM)
We NEVER DOUBLE-END a Transaction in our Brokerage. It is never beneficial to the Seller or to the Buyer and it is only beneficial to the Agent.
888-391-5245 Direct Cell
... more
0 votes 34 answers Share Flag
Thu Feb 26, 2015
Dan Brough answered:
Here are few things:

Put it on their blog
Post on Facebook
Twitter about it
Post on Craigslist
Email Blast
Video Tour
Postcard Mailing

There are more.

0 votes 178 answers Share Flag
Fri Oct 4, 2013
Thom Colby answered:

There are lots of buyers for proeprties in Irvine. They will pay fair market price and many are Cash Buyers. It's all about price. Discuss yoru pricing strategy with your REALTOR, if you DO NOT have a REALTOR working for you, call me. YOu can also send me the address via e-mail (below) and I'll give you my opinion on price.

Best of luck,

Thom Colby
Broker / Owner & Certified HAFA Specialist
Thom Colby Properties
Newport Beach, CA
Moving Lives Forward (TM)
We NEVER DOUBLE-END a Transaction in our Brokerage. It is never beneficial to the Seller or to the Buyer and it is only beneficial to the Agent.
888-391-5245 Direct Cell
... more
0 votes 32 answers Share Flag
Fri Apr 29, 2016
Dp2 answered:
0 votes 22 answers Share Flag
Thu Jul 8, 2010
Daniel Magallon answered:
Sorry to hear about your issues with BofA. Not sure about the FHA/non FHA on equator rules as my current Short Sale with BoA is not an FHA loan and is on equator. I know as an Real Estate Agent I can personally initiate the short sale process on equator and get it in the system. In anycase I went to a seminar given by BofA about two weeks ago and obtained much info on their short sale process and equator. One tip from the seminar was this: when calling the BofA short sale customer service you are contacting a "call center", essentially a place with "hired" help. In other words, you probably will not get the same answers there as you have already discovered. First thing to do is have your agent initiate the process on equator themselves.
I am putting together a help website for consumers on this but in the mean time you can contact me via my website. I can give you a couple extra tips too.
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0 votes 6 answers Share Flag
Thu May 3, 2012
Michael Krotchie answered:
Hi Shawn,

Typically you would ask a real estate agent who has access to your local MLS.

They would be able to tell you the days on market (DOM) as well as any other information about the house you would want to know. Also, most MLS's have an "agent only" remarks section where there is some useful information also.

- Michael
... more
0 votes 12 answers Share Flag
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