June 2010

There are 11 blog entries for June 2010.

I am yet to see a single real estate deal that is identical to another.  It is amazing how many little things change from deal to deal.  Nevertheless, there are certain real estate norms that all parties should be aware of.  They are not all followed on every deal but it is good to be aware of them as a starting point for negotiations.  Also, please be aware that these real estate norms apply to California only.  Real estate transactions are very different across the country.  Some of this may apply to your location and some of it may not.

Home Warranty - It is customary for the seller to purchase a home warranty plan for the buyer.  Notable exceptions are when trying to purchase a bank owned property or a short sale.  In these cases I would not suggest

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Let me tell you, buying a home as an individual is a world of difference from purchasing a home with your spouse or fiance.  That probably holds true for buying a property along side anybody when both people, including yourself, have a high emotional stake in it. But for the sake of this post I am going to talk about purchasing with a spouse or fiance.

The fianace route probably being even tougher because it means it is probably the first time you go through it together and you may discover that you have very different ideas.

Having another person with huge emotional interest and their own pre-conceived notions of what qualities they would like to have in their home is a huge challenge.  If not planned for properly, it can cause a large amount of

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The Millionaire Real Estate Agent: It's Not About the Money...It's About Being the Best You Can Be!

  • ISBN13: 9780071444040
  • Condition: NEW
  • Notes: Brand New from Publisher. No Remainder Mark.

Anyone who wants to turn their real estate practice into a highly successful business must understand the fundamental models that drive the best real estate agents in the industry. In The Millionaire Real Estate Agent these models are revealed and explained. This book represents the culmination of decades of real estate experience, research, and consulting, with case studies from some of the top millionaire agents in the U.S.

In this revolutionary handbook youll learn:

* Three key concepts that drive mega-agent production.
* Essential economic,

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Question by noonecanne: Would you consider selling your home "for sale by owner"?
In these days, if you had to sell your home or condo, would you consider selling it on your own?
On the flip side, would you prefer to do a private sale through the owner without the input of an agent?

Best answer:

Answer by Nick
have a place do it they advertise

Give your answer to this question below!

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Question by Vincent: Seller is requesting Escrow Extension, what are my options?
Hi, when I purchase my home in CA, the seller agent included "close of escrow" date to be contingent in the offer letter. But they promised to close escrow in 45 days, which was supposed to be May 25, 2009.

Now, they are giving me an extension form to extend the close of escrow 1 month later, which is June 26. My questions are:

1) Do I have to agree to the extension since they have "contingency" on the original offer letter?
2) Let's say I agreed to extend the close of escrow date to June 26, 2009, can they still come back with another extension?
3) What rights do I have as a buyer in a situation like this?
4) Since the seller is having problem moving out and is not able to

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Question by Heather S: What does it mean to "escrow" something?
An example: My husband and I are going to look at a house that needs a new roof. Our agent said that we can "escrow" the roof. Which meaning of escrow is she talking about?
The roof needs to replaced ASAP so waiting for that 8,000 form Uncle Sam-while it s nice thought-we can't wait if we do buy it

Best answer:

Answer by buz
Assuming that the seller is going to fix/replace the roof, part of the sale proceeds from the house will be placed in escrow - meaning that the seller won't get it until the work is completed

Add your own answer in the comments!

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Question by 123456yahooo: Santaluz community in San Diego? Is it a safe neighborhood in a good school district?
Or is it in a desolate or less desirable part of San Diego?
Thank you, star p. Can you tell me a little bit about Santaluz community?
Thank you, S

Best answer:

Answer by Daniel Beer

Santaluz is one of the cities safest neighborhoods.  In fact it is a guard gated community surrounded by very high end neighborhoods.  Crime is as low as you could hope to find.  Unfortunately no place is immune but this is as safe as it gets.  Best of all, the schools are very strong starting with the new elementary school, Willow Grove.  Del Norte is the new high school and it is also excellent.

Add your own answer in the comments!

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Question by Emily Dew: What exactly does "under contract contingent" mean in real estate?
When a house for sale is listed as "under contract" and it says "contingency" next to it, what exactly does that mean? I think it means the sale depends on the potential buyer selling their property first. Is that right? Can a potential buyer who also has sold their home on "contingency" buy another home on "contingency?" I live in Illinois, BTW. Thanks!

Thanks!
Wouldn't advertising that your house is under contract when it's a contingent offer scare off other potential buyers?
Do you have to put any money down when you "buy" a property on contingency?

Best answer:

Answer by 1 Hr Bookkeeper
You hit it square on the head. Buying a house "contingent" on anything

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Question by Me Me: Any hints/suggestions/tips for selling a home "as is"?
A lot of the home selling guides and material out there seems to be geared towards people selling a home in pretty good condition. When many rooms in your house are "do over" why bother polishing the brass handle of the front door?

Best answer:

Answer by CJKatl
In today's market, your buyer will have a hard time getting financing. Could you fix the home up a little bit?

Know better? Leave your own answer in the comments!

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We have all experienced it and there is probably nothing more uncomfortable. See if you can relate to this:

You are excited to see a new property that you are may want to buy. You arrive at the home with your San Diego Realtor and guess what happens. The owner answers the door!

Why the exclamation point? Why the dramatic effect? Well if you don't know the answer to this you may be one of the people making this mistake. Here is the answer. THERE IS NOTHING WORSE THAN BEING SHOWN A HOME BY THE OWNER!!!

Sorry sellers, but that's the truth.

In a best case scenario the owner will casually show a buyer around the home almost in the same fashion that an agent would. The major difference is that because it is the owner doing the showing, the buyer is not

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