I like to consider myself a healthy eater so I frequently shop farmer's markets when ever I can.  Needless to say I am incredibly excited about the new Farmer's Market at the Kenneth Village, talk about convenient!  Beginning this Friday in the parking lot behind Yoga at the Village from 3:00-7:00, see you there! 

        

I am one of the few agents that loves working with first time buyers.  I pride myself in working hard to make sure that they are comfortable with the entire process but most importantly that they understand it.  As soon as I see that "Deer in the headlights" look, I stop and explain things slowly and make sure that they understand what I am saying.  In today's real estate market things change on a daily basis.  It is important for us Realtors to stay up to date on things. 

One of the challenges that we are facing these days is the fact that lenders are requesting secondary appraisals and full underwriting review late during the escrow period after contingencies are removed.  What if the lender decides to lower the value of the property?   How do I protect my buyer?  There are a couple of ways but the main thing is to negotiate up-front before we get to this point.  In other words agents need to make sure that their buyer be entitled to a return of their deposit if the lender decided not to honor the original approval. 

Sound confusing??  Buying or selling a home is not as simple as you might think, which is why you need a knowledgeable agent working for you! 

        

I got to take a sneak peek at this gorgeous Spanish home today!  It is located in the Rossmoyne area and it will be making its debut later this week.  If you would like to take a look please give me a call.  It is a 4 bedroom 2 bath home listed at $818,000 which is a great price for this Jewel City Gem!!!!  This one is going to go fast!

        

Today I took my contractor/client up to see this house in La Canada.  When we arrived there were several parties of people anxiously awaiting for the listing agent to put on the lockbox so they could have a look inside.  We got out of the car and he quickly put on his thinking cap, I know not to bother him while he is thinking so I just followed.  We did a quick walk around the exterior and peeked into the windows just as everyone else was doing.  He looked at me and said "We don't need to go inside let's go."  A nice young couple looked at us in amazement, "Oh you aren't going to look inside?" they asked.  Not necessary we nicely said and wished them a nice day. 

When we got in the car he said "What a frenzy!", I agreed.  You see this home is a bank foreclosure, it's located in the highly desirable La Canada and it's priced at $690,525 so of course everyone is going to freak out over this property.  Not to mention it looked a lot nicer in the photo's than it did in person (kind of like a lot of us Realtors do )  They will no doubt have multiple offers and it will most certainly sell for well over asking, is that a bad thing?  Heck no, but for the trained professional in this case my contractor this home is far from a little make over.  This home is in need of EVERYTHING which basically means it is not exactly the deal of the century, especially for someone who doesn't know what they are getting into.


fren·zy  

1. Temporary madness or delirium.
2.  A mania; a craze.

        

California is imposing a 90-day moratorium on housing foreclosures under a new law that takes effect Monday.

The law is expected to make lenders try harder to keep borrowers in their homes. Loan companies must prove to the state that they tried to modify the delinquent loans before they can begin foreclosing.  What exactly do they have to do in order to "prove" they tried to modify  these delinquent loans??? 

Here is what is supposed to happen starting Monday:

• Lenders will submit applications to the state outlining their loan modification programs. That gives them a 30-day exemption from a moratorium.

• If the state OKs a lender's program, the firm is permanently exempt from the 90-day delay on foreclosures.

• If the state rejects the program as inadequate, a lender has 30 days to upgrade it and be reconsidered.

Who are we kidding??  The state isn't even capable of filling a pothole!

        

        

When I first got involved in real estate, agents would have to wait for the MLS book to come out each week.  It was the size of a phone book, printed in black and white with all of the listings.  Agents literally paced the floor waiting for those books to be delivered every Friday.  Boy am I glad those days are over! 

Modern technology allows me to receive up to the minute updates of new listings.  This morning while I was out with a client, I received an e-mail notification of a new listing on my i-phone.  Just a couple of seconds later she looked at her Blackberry and had the same notification, because I set her up to receive them too!  I have already made arrangements to see the property later this afternoon.

I have all of my clients set up to receive automatic notifications of new listings that meet their criteria.  I even have some past clients that like to receive notifications of new listings and sales in their neighborhood.  I would be more than happy to do the same for you

        

As a Glendale native I have seen many changes take place in our charming Kenneth Village.  I recently found out that Teresa's Boutique will be closing after many years of business.  From what I understand a prominent real estate agent will be moving into that space.  That will make two real estate companies at the Village!  But then again we have two dry cleaners, two meat markets and two florists.  I do however  have a feeling we are going to be back down to one meat market soon, just a hunch!

        

Are you an FHA buyer looking to purchase a condo or townhouse?  Good news, you no longer have to limit your search to already approved complexes.  Your FHA lender can now do a "spot approval".  As long as the complex meets the guidelines you will still be eligible for FHA financing.  The spot loan process can NOT be used for condominium projects where FHA approval has been withdrawn or to circumvent the FHA recertification requirements for approved projects. 

Are you still on the fence about whether or not to buy?  Come on down you're going to get lonely up there! 




 

        

Today a friend e-mailed me and asked  "Chris Z. are you too busy to blog?".  As a matter of fact I am!  Today I submitted an offer on a lovely condo in Burbank.  After that I had to get to work on another offer.  My first time buyer's had lots of questions, which is a good thing!  Before I knew it, another buyer calls to tell me he is ready to start looking at property again!  Could it be that my buyers are finally climbing off the fence??  Looks like it!