How’s the market?

I get asked this question everyday. Buyers are ready to buy. Sellers are ready to sell. We are still lacking a healthy housing inventory to satisfy buyers.

Recently placed an above list price offer on behalf of some clients. These clients understand the market and have written very aggressive offers. Seller countered buyers to remove appraisal contingency. Needless to say they were not comfortable to remove this protection. My objective is to protect my buyers, so I informed them of the risk of removing an appraisal contingency. Sometimes people think that it is okay to remove the appraisal contingency because the loan is contingent upon an appraisal. This is not the best piece of advice, and could be challenged in arbitration.

It is great to see the market moving up. I have seen a lot of sellers who were in a short sale position gain enough equity to be out of water. The market continues to move upward, and it is exciting to see clients invest in their future.

Advertisements

Westview Towers

Been meaning to write about my thoughts about different condo buildings within West Hollywood.
I was really impressed with the remodel of the Westview Towers. The valet is still in the middle of the remodel but the inside of the building is quite charming and very modern.
Full service building that offers valet, pool, spa, gym and conference room.
Do not be shy to call me if you would like to make arrangements to see available units in the building.

More short sales projected for 2013

http://www.dsnews.com/articles/mortgage-debt-relief-acts-extension-to-lead-more-short-sales-report-2013-01-08

The extension of the Mortgage Debt Relief Act will lead to more short sales for 2013.

As a listing agent for REO properties, I have seen fewer REO properties come onto the market at this time.  For sellers considering short sales, it’s important for them to know that banks are more inclined to entertain short sales because it costs the bank less money than foreclosure.

 

 

Reassessing property values

Just received an email from a client thanking me for helping them reassess their property values. Reading their email made my night, especially knowing that my client is paying less in property taxes. This service was free, and I offer it to you, or any of your friends and family, because Lisa Kaufman always wants to help!

Meeting the “one”

Had a great showing this morning. Today’s showing got me to thinking about when my buyers meet the one.  I felt the spark in my client’s eyes and the excitement. You hear over and over again how you know upon stepping through the doorway, and it’s true!  I witnessed it today. 

Previous owner is listing the home more than $300,000 less than their own original purchase price. Fortunately seller is in a position to sell without needing to short sale. But they had no regrets for buying during the bubble years because it was the right home for them at that time in their lives. 

When buying we must not have no regrets. Prices change throughout the years, and we do not have a crystal ball. The only thing we are sure of is the feeling and joy of our purchase. Also if we are financing, we can be sure that the property will have an appraisal contingency so that we can protect ourselves from over paying.