Real Estate Lying....Bad All Around!

It's from an article that was stuck in my email from about 3 weeks ago!

But, since I abhor lying and can generally tell when someone is lying, in blue below is what a broker out of New York says are the 5 most common lies Realtors tell their clients & he posted it on that Reddit site.

The one that I have to agree with is number 5. When I see listings that are sold without MLS exposure...in house, in a network group, any way that does not give it full exposure...I strongly agree that the listing agent has done a disservice to their client.

The rest.....nah, I don't think that is really happening too much here in our sweet So. Cal market....do you?????

1. They know the value of your property.

The reddit user claimed brokers do not do any real analysis, and simply enter square footage, income and expenses into a software program to determine the value of the property.

2. They are experts in the market, with many transactions to their name.

While some brokers may have years of experience, others just starting out will bulk up their expertise by claiming their company’s transactions as their own, even if they had nothing to do with it.

3. A large brokerage devotes more resources to advertising your property.

The former broker says the opposite is actually true, and large brokerages typically have a more formulaic approach to marketing their properties.

4. The listing price they give you reflects their opinion of the market value.

Even after submitting the info through their software, brokers may not always give the best price opinion since, if they quote a higher list price, they are more likely to win over the seller, the reddit user explained.

5. Decent brokers need an exclusive listing in order to market your property properly. It benefits you because it allows them to create an auction for your property.

Simply put – this is not true. In fact, the user explained exclusives provide very few benefits to the owners, and only weak brokers who lack investor relationships need an exclusive to conduct business.

Caught Up Reading & Reverse Mortgages

Boy oh boy did I have a lot of reading to do this morning! But, one article reminded me of something some may need to consider. So many people are concerned about affording retirement. It's sure on the forefront of our minds these days & I'm still planning on helping people in & out of homes for at least another decade.

If you've been reading my blog for a while you know that we own a rental property and are planning on turning our current principle residence into another rental when ready to retire.

As self-employed people we have to create our own retirement. No one to count on but ourselves.

When we retire, our two properties will be debt free.....well, that's the plan. They will provide us the income we are used to, at least close to used to!

But, for some....consider the Reverse Mortgage to help fund your retirement. Your home is generally your largest asset, you likely will have zero or a very small mortgage balance when you do finally retire.

I know, you don't want to leave a debt for your children. Please, don't forget about how hard you've worked for yourself.

Investigate the Reverse Mortgage with a qualified professional. It's a difficult loan, but basically it's based upon (gulp) your life expectancy and the value of your home now and anticipated to be then. Lots of calculations. But, wouldn't it be nice for the home that you've paid for all these years....to pay you? There are definitely Pro's & Con's, so be sure to have it explained to you in detail. And, if you have questions, ask them.

Just my two cents. 

Operation Keyboard Warrior

Thank you, Department of Justice, for chasing these criminals down!!

Anyone involved in Real Estate right now knows there has been a newer disclosure about Wire Fraud. We've had it for a few years already.

We Realtors also know that our clients don't always read everything we send them to review so it's our job to make sure they know what's going on.

That includes Wire Fraud. I can't imagine any of my clients actually clicking on a link in an e-mail and sending money. BUT, it has happened to others apparently.

DOJ just arrested 8 more people in a 15M scam. Not only Real Estate related....all kinds of other computer/wire/money fraud items.

Their task force is called Operation Keyboard Warrior. It's horrible that we have to have this task force, but glad we do.

Purpose of this blog post is a REMINDER to never, ever click on a link and send money. Sheesh, don't click on any damn links unless you know for sure it's a valid one!! 

Better safe than sorry!

Chasing The Market ~ Never Good For A Seller

Anyone regularly reading my blog posts knows I'm OCD about checking the MLS activity several times a day. I've got to know what's going on to keep my Sellers & Buyers informed.

I focus on the Santa Clarita Valley since 90% of my business is within these rolling hills.

I have my program set to tell me new listings, price changes, back on markets, under contract, pending, sold, withdrawn, cancelled, expired, and on hold properties....all set to indicate 'within the last 24 hours'.

This morning, after a horrible nights sleep, I did my usual thing....and noted that there were 23 price changes on listings in sweet Santa Clarita in the last 24 hours.

For the last few years, we've been seeing price changes go up. Today only 2 went up.....21 were price reductions.

I met with an appraiser at one of my listings yesterday and we talked about this very same thing. He, myself, the buyers agent...all chatting about where the market was and our crystal ball predictions of where it was going. The topic we all agreed on was about Sellers listing too high and then having to do price reductions.

Obvious signs of that very thing happening. 

I can only educate and present, Sellers have the choice of what they list it at. Some I think are a tad high, some right on, some just an unusual property that needs the right buyer.

But, worst thing....is chasing that damn market down. That's so hard for people to reduce prices, and then, of course, the vultures sit in waiting. Waiting to pounce. Always waiting to pounce on a tired of being on market Seller.

So Many Of Them ~ What To Do With Those Alcoves On The Side of Your Fireplace?

Ah, yes, those spaces in the walls builders have been putting in for years next to the fireplace? A lot put a media built-in...or a lot did. So many are hanging TV's over the fireplace these days since it is the center of the room!

If you didn't have a media unit built-in, you've got that space, that indented space either on one side, or both, of your fireplace, right?

So, a Houzz article this morning had some great suggestions for what to do with those areas if you don't want to do a custom built-in.

We have a nice short cabinet in ours with decor on the back wall and some media crap on top of it along with some other decorative items as well. Yes, our TV is above the fireplace!

These are the ones I liked in the article. I'm an asymmetrical kind of gal.....so here ya go!

Yep, a sweet little reading area!

I love this one! Small homework station?

A little fancy-schmancy for me, but lovely anyways!

Fast, Slow, Hurry, Wait....And, Repeat.

Real Estate....Being a Realtor...is not for the weak. Not for the weak-minded, weak in body, nor weak anywhere.

It's a very stressful thing for someone to buy or sell. Let alone buy and sell at the same time. Or, wait for a seller to move out. Or wait for a buyer to make an offer. Or, hey, wait for a number of things to happen.

Then of course there is the hurry up stuff. Hurry up and do this, get that done, prepare these documents.

But, I love what I do. Love helping my people achieve their dreams.

This week was one of those weeks. Could we do this on that property? No, yes, maybe. But, what about that department over there? Do we have clearance, space, water?

If anyone ever thinks we just show property, write contracts, and let the paychecks roll in? You Are Wrong! 

I will never push a client to do something without helping them to do their due diligence. That's part of what I do. Make sure that what they are buying is the right thing for them. No, ifs, ands, or butts about it!

For now, we are moving!!!

Current Sales Activity for Santa Clarita - June 8, 2018

Well, inventory is definitely up. Checking Acton, Agua Dulce, Canyon Country, Saugus, Valencia, Newhall, Stevenson Ranch, Castaic, & Val Verde.

We are showing active listings at 606 this morning. FYI, beginning of May was 509. I'll take 606!

Under contract in those same neighborhoods is 547.  Was 522 at my last blog posting about it.

Wonderful closed sales in the last 30 days was 368!!! Again, beginning of may we had closed 310 in prior 30 days.

Housing is robust in Awesometown and surrounding communities. I'm seeing a huge increase in the number of listings go active for end of week timing. Quite a few reductions in prices too though.

Still a sellers market, if priced right and presenting well.

Questions? Just holler!