Columbus Grove Is "Going Green"

Columbus Grove in Irvine and Tustin is doing its part to help homeowners save the environment in small ways.

Homeowners can take their used batteries and old light bulbs to the Grove House (main clubhouse area near the pool on Sonora Street) during business hours (including weekends) and have it collected for appropriate disposal.  Such items should NOT be thrown away in regular trash cans and dumpsters.

For other hazardous waste materials, you can take it to a hazardous waste dumping site off Valley Oak and Irvine Center Drive in the city of Irvine, adjacent to the dog park there.  You just drive up, tell them what you're dropping off for disposal, get it out of your vehicle (the workers there will likely help you), sign a form documenting it, and then drive off.  This is where you can dispose of paint cans, motor oil, etc.

For more tips and info about Irvine, Tustin, and other parts of Orange County, feel free to contact me.

A Positive Message For Buyers And Sellers

Just a quick, inspirational message for buyers and sellers.

For all the homebuyers and sellers out there who are starting to feel discouraged, have faith! The process doesn't have to be so difficult. If you believe you won't find a home or sell your current one, then that will manifest itself. Keep an open mind, utilize these remaining summer weeks to get more showings in before it starts to get dark earlier in the evenings come fall and winter. There are still plenty of homes out there to purchase for the buyers. And for the sellers, there is indeed a buyer out there for you. Work with your agent to make sure you're taking the right steps to make things happen for you in the timeframe that you want. Good luck!

For more info or guidance on what to do if you feel like you're in a "real estate rut", feel free to contact me.

Buyers Need To Act Fast

While statistics in Orange County, CA have shown that there have been more active listings on the market now than compared to this time last year, it doesn't necessarily mean that there's more great buys out there.  Some of these listings are by homeowners who are "testing" the market and hoping to get their price, even if it's 10% above recently sold comparables in the area.

Whether we're in a slow market, hot market, or unstable market, the real estate "deals" out there do not sit on the market for very long.  Of course whether something is a "deal" is really all relative.  Nevertheless, good agents and savvy buyers KNOW when they encounter a deal.

The only problem is that, in most cases, you're probably not the only buyer thinking that.

With that said, buyers need to position themselves in the most positive light possible, not just in having a very competitive offer price, but having their financing figured out and documented, and a story that is compelling.

A story??!!  Yep, a story.

For an especially hot property on the market, you have to stand out.  You can stand out by having the highest price.  If that's your strategy, then do it.  But if you have a hunch that you won't be the highest offer of the bunch, you need something else.  Solid financing is one way to go -- a hefty down payment goes a long way.  But not every buyer has that going on for them.  That's where the story comes into play.  Whenever I'm on the listing side, my sellers always seem to pay more attention to a buyer whose reason for buying, moving, and offering on THIS particular property makes them perfect for it, even if the offer price is slightly less than another one.  Part of this has to do with knowing how committed a buyer is -- the last thing a seller wants is to fall out of escrow once they select an offer.

This is where having the right real estate agent makes all the difference.  As a buyer, your agent should be able to present you in a way that will not just get your foot in the door, but get you to the front of the line somehow, even if you have to cut someone.  That doesn't mean you're guaranteed to get fully through the front door since there are forces outside of your agent's control that dictate that, but you'll never get even remotely close if your agent doesn't fight for you.

Now as a seller, your listing agent should be able to help you sort through all the offers and weed out the weaker offers.  And by weak, that can even translate to having a good buyer but with a lousy agent.  Your listing agent should be able to provide the scenarios that may occur with each buyer based on the information that is presented at the time of offering.

So what can buyers do to make themselves stand out?  Well, it's having the basics covered...flawlessly.  That means having a competitive offer price presented on a Residential Purchase Agreement (RPA) that is error-free and signed/initialed completely -- nothing missing.  That means having your financing documented clearly, along with proof of funds that is up-to-date and easy to read (submitting 20 pages of bank statements is not efficient and will be a burden for the seller to review).  That means having your agent present you in the most positive light possible, or in whichever way that is suitable for the circumstances.

And all this should be done...FAST.  Which is why I love using DocuSign -- a special service that your agent can subscribe to that allows for electronic signatures online.  It's paperless, it's "green", and it's super efficient.  I've been able to crank out fully-loaded, compelling offers within an hour or so after showing a property. Listing agents and sellers are often impressed with the urgency...and that's one way to make my buyers stand out.

So for all the buyers out there who are scratching their heads and wondering why they aren't getting any offers accepted, make sure to work with your agent to devise a good strategy for making you stand out.  And then act fast, because even if you have the best offer to provide, if it's not completed quickly enough by you as the buyer, then you may have already lost the property.

If you have any questions or would like to discuss further about how to make your offer stand out, feel free to contact me.

Should I Sell Or Rent Out My Home?

I come across many homeowners who ask themselves this question every so often - myself included.  While each person has a different situation to deal with, here are some things to consider when making this decision:

1)  If I sell my home now, will it be a short sale?

2)  Do I already have a place to move to?

3)  How much time do I need before moving to my next home?

4)  Why do I have to move now?

5)  Do I need the proceeds from the sale of my home in order to move to my next home?

6)  If I decide to rent out my place, do I know what I need to do as a landlord?

7)  Can I afford being a landlord?

It all boils down to whether you can financially handle either scenario, make the time to deal with either one, and emotionally endure the pressure and stress that may accompany following through with your decision.

Find someone who's been in your shoes before and get the story behind why he/she decided to sell or rent out his/her home. Talk to someone who can walk you through the details of either scenario so that you can make a more informed decision. And don't forget to consider the income tax consequences that go along with either situation.

Feel free to contact me if you want to discuss your situation. I've been faced with this same decision with my own properties and can provide my own story and real estate expertise. I'm here to help! All you need to do is just ask.

Irvine Is More Than A Master-Planned Town

For those who grew up in the L.A. area (like myself) or other well-established cities, Irvine may come across to some as being a "cookie cutter" type of town.  Irvine was indeed built as a master-planned city with its establishment occurring almost 40 years ago, but there's much more to Irvine than homes that all look alike and perfectly placed palm trees everywhere.

One example of its diversity is in one of its busiest shopping centers, Heritage Plaza.  It is located on Culver between Walnut and the 5 freeway.  It includes a good mix of "chain" stores like CVS Pharmacy, Ralph's, Togo's, The Elephant Bar, and Wendy's, just to name a few.  It also has a Bank of America and Chase bank.  But in addition to these more commercialized places, there are several stores and restaurants that are not big franchises like those that you can find at every other street corner like Starbucks, McDonald's, etc.

Here's a quick video highlighting some of these stores/restaurants:



Of course, there's always the argument that Irvine is also made up of a bunch of strip malls -- I'm sure many of you have heard that before.  But to have a strip mall with a bunch of really unique stores and restaurants mixed in with more familiar ones makes the shopping experience at Heritage Plaza much more interesting.  Don't you want to check out Mochilato now (there's one in Fullerton too)?

For more information on Irvine and other Orange County cities, feel free to contact me.

5 Key Ways To Get Your Home Sold

Selling your home doesn't have to be difficult. A good understanding of your market, a strong motivation to sell, and a careful marketing strategy should ultimately attract several buyers and offers.

However, there are some homes on the market that end up sitting there for months and months, never having the MLS status change from "Active" to "Pending." What's wrong with these properties?

Whether you attempt to sell your home yourself or hire a real estate broker to help you, it's important to do some basic things to help make your home more desirable and get more foot traffic from qualified, ready buyers.  Here are 5 things to make sure to apply to the sale of your home:

1) Price your home correctly.  This is a tough one for sellers to swallow.  There's no magic number or special formula to stick with on this.  I've noticed with many sellers (and for me as a seller of my own property before) that they'd like to list the home slightly above the market value determined.  The decision is ultimately up to you (the seller) to set the price, but try your best to be realistic about the list price.  One thing that you probably don't want is your home to sit on the market for too long; an overpriced home may do just that and create the perception to buyers that there's something "wrong" with the property, or even something wrong with the seller.

2)  Make your home presentable.  This doesn't mean that you have to make your home model-perfect for every showing.  But keep your home neat, tidy, and take away any clutter as best as possible.  Rent a storage unit offsite if you need to.  If you're unsure about what to do, go check out a couple of open houses nearby and see how they do it.  What attracted you within the home?  What didn't?  Then organize your own home accordingly, if possible.  Now if you can't get your home into a better showing condition, keep in mind that it may deter some buyers and could affect the offer prices that may be presented to you.

3)  Make your home accessible.  You can have the most beautiful home on the block, but if it's difficult to get people to see the inside of your home, it's unlikely that the offers will be rolling in.  Try to take the time to arrange your schedule so that your home can be shown very easily during at least the first 2 weeks that it's listed.  That's usually when most of the foot traffic comes through anyway.  If that's not possible, do several open houses (particularly on the weekends) and make sure that it's clear to buyers that these are the only opportunities to see the inside of the property.  Try to allow showings during the weekdays as well, especially now during the summer when the sun stays up until almost 9:00pm.  Buyers are searching for homes pretty late in the day right now.

4)  Make sure your MLS info is accurate and complete.  If you are listing the home without an agent, the same applies to your own ads.  Make sure that your agent inputs the listing information accurately in the MLS so that people aren't showing up to your doorstep at the wrong times, or they don't get lost, etc.  Again, the key is to get them inside your neat, tidy, uncluttered home!

5)  Make sure your agent is responsive.  If you hire a broker to list your home, make sure that the agent you select is responsive to not just you but to the buyers' agents as well.  The better rapport that your listing agent has with the agent representing your selected buyer, the smoother the transaction will likely go.  Now rapport doesn't mean that the agents should become best buddies, but both agents should be able to have a civil, productive conversation to negotiate terms without creating any animosity.  You should be able to sense this with your listing agent based on how he/she is with you and the buyers' feedback that he/she communicates to you.

If you have any questions about this post or any other real estate related items, please feel free to contact me.

What To Do With Your Home As A Result Of Separation, Divorce, Or Death

There is no question that divorce or separations are extremely difficult for the individuals going through it. Death of a family member or friend can be very painful as well. I've seen it first-hand with my clients and among friends and family members.

So when real estate is involved, what do you do?

First of all, I must disclose that I'm NOT an attorney, so what I'm sharing is strictly my opinion only and from my own experience in my real estate business.

When it comes to divorce or separation, and the two people involved both own one or more properties together, they both need to have the discussion about whether to keep or sell the properties.  That discussion needs to happen first before a real estate agent gets involved -- a real estate transaction can become really messy if the sellers are not on the same page.

Once the two people have agreed to sell, here are 5 things to be clear on:

1)  Determine exactly who is on title and how title is held.  This can be found on the most recent grant deed.  You can get a copy of it at the county recorder's office for a small fee usually.  It can also be found through a title company or a real estate agent who has access to such information

2)  Determine all relevant loan information, if any.  Find out whose name is on the loan, the number of loans on the property, the name of the lender(s), the loan account number(s), the loan balance(s), the monthly payment amount to each lender involved, the type of loan(s) involved, and any other pertinent information.  Having the latest loan statement from each lender involved is ideal.

3)  Determine if and how to continue the monthly mortgage payments.  If you're going to sell your home, it's important to determine whether a short sale will need to be done.

4)  Determine the new living arrangements at the present time.  Whoever will be living at the property will need to deal with showings of the home alongside the real estate agent.  In addition, utility and maintenance payments need to be figured out since it may be necessary for the property to be in as good of showing condition as possible.

5)  Determine who you need to help sell the property.  If you decide to sell the property on your own (i.e. without a real estate agent), make sure you have the other 4 steps figured out at least.  Otherwise, you may find yourselves in a contract with a buyer who may seek monetary damages from you if you're not careful.  If you decide to get a qualified real estate agent to assist you, make sure you deal with one who you both can get along with and is respectful of how you want to communicate, particularly since it's not unusual for the two people to sign paperwork and discuss matters separately.

We can probably add several more "to-do's" onto this list, but just these 5 steps alone may take some time to figure out.

As for a death of a family member or a friend, the steps are same to begin with.  The difference though is that the decisions will need to be made by the family members or beneficiaries left behind.  When there is more than one decision maker involved, the same applies regarding being on the same page when it comes to selling a property.

There are several other items to discuss and consider when it comes to selling a home as a result of separation, divorce, or death.  There may be tax consequences to consider.  If a short sale is necessary, the legal, financial, and credit implications need to be discussed with you as well.  Probate, trust administration, or other legal action may need to be taken regarding the death of a property owner.

If you are going through such difficult times right now, feel free to contact me if you'd like to discuss your situation and get some additional guidance regarding your property.  Since everyone's situation is unique, the approach after determining the 4 items above will differ for everyone.

Is Now Really the Right Time to Buy or Sell a Home?

You've heard Realtors, investors, family, friends, neighbors, co-workers, and your distant cousin tell you that now is the right time to buy real estate.  On the flip side, homeowners who want to sell their homes feel that they have to continue holding on longer and "wait it out."

So, is it REALLY the right time to buy or sell a home?  Well, it depends.

It depends on what your family goals are.  It depends on what your career goals are.  It depends on what your financial situation is currently as well as what you may project out in the coming years.  It depends on your social relationship status.  It depends on many, many factors that play into the decision to buy or sell.

Gosh, with all of that to think about, why bother talking about it anymore?  Some people may just put off the conversation right at this point.

But the discussion doesn't have to be difficult.  In fact, it actually is quite liberating.  Rather than it being more of a Q&A session, I believe it's best to talk through your thoughts with someone who has "been there and done that" in real estate, both as a consumer as well as a professional in the industry.  Perhaps talk to more than one qualified person to get different perspectives on it, too.

I often get asked this question A LOT about whether it's the right time to buy or sell.  Unlike a lot of agents out there, my first answer is never simply, "Yes, it is!"  It doesn't and shouldn't work that way.  Just because prices are lower than what they were 5 years ago doesn't mean that it's the right time to buy for YOU; likewise, it doesn't mean that you HAVE to wait to sell your home either.

I've been approached by several people over the past couple of years who have been struggling to make ends meet, or who have gone back to school to switch careers after being laid off from their jobs, or who live a very care-free lifestyle and are now thinking about buying because everyone around them is saying to do so.  After talking with these people, some of them had decided to hold off on buying or selling, while others realized that they'd have plenty to gain by buying or selling a home now.  Either way, it's the dialogue that occurs with a qualified person that ultimately allows you to decide what is best for you.

One thing to keep in mind: No one has a crystal ball that can tell you whether prices will go up or down in the coming weeks, months, or years.  No one can predict whether mortgage interest rates will increase or decrease by the time you find a home to purchase or are ready to sell.  Yes, there are several different market indicators that you can rely upon.  But if there's anything that I learned from my Macroeconomics class up at Berkeley many, many moons ago, it's that several things can and will trigger the direction of the economy.

One thing is for certain: the real estate market is indeed impacted by the overall economy, so I believe it is important to consider economic factors in your decision to buy or sell.

So if you're wondering about whether buying or selling a home now is right for you, make sure that you have that intelligent conversation with the right person who will listen and provide valuable feedback to you.

Columbus Grove Tustin Listings

Here are the latest listings on the MLS for properties located in Columbus Grove in Tustin that have statuses of Active, Backup Offers, Pending, and Closed Sale since June 1, 2010.

If you'd like more real-time info on this community or other areas of Orange County, please feel free to contact me.

How To Look Up Property Tax Info For OC Properties

Here's a video I made that shows you how to look up property tax information (including Mello-Roos info) online for properties located in Orange County, California. This is public information that is available to anyone.

Take A Moment To Get Inspired

Just a nice, inspirational video to share (with a Nike spin to it).

Whenever you feel down and out -- whether it's real estate woes, family woes, career woes, money woes, or life woes -- take a moment to breathe, watch this inspirational video, and hit the ground running again!

Enjoy and have a wonderful day!

Tustin Legacy Loses Master Developer

Tustin Legacy just lost its master developer, which was comprised of Shea Homes and Shea Properties II. For more details, see the article written by reporter, Elysse James, in the OC Register HERE.

What does this mean to homeowners and residents who live in the area (e.g., Columbus Grove, Columbus Square, Tustin Field I, Tustin Field II)?  Well, for starters, all that vast, empty land that can especially be seen off Edinger and surrounding Columbus Square will continue to be that way for probably several more years.

So much for all the schools, roads, parks, etc. that were supposed to built and make the area so much more desirable.  At least for the next few years.

As a homeowner in the Tustin Legacy neighborhoods, I'm now wondering whether the huge amount of property taxes that we pay to live here is now paying for empty land.  Where is our money going now?

The Highest Price May Not Be The Best Offer

In working with buyers and sellers over the years, one thing I've noticed time and time again is the notion that the highest price will always win out when it comes to real estate.  Sure, it is true in many cases, but certainly not all.  Here are 3 scenarios to think about:

1)  Highest price, weak financing (or lack thereof)
Yes, every seller wants to get as much money as possible for their home.  But if the buyer's financing is not very strong, even the highest offer will not work since the ability to close escrow is very shaky.  By weak financing, I don't necessarily mean someone who is putting less money down.  It means that the lender who supposedly pre-approved the buyer for a loan is either not well-known, is unresponsive, has a bad track record, or didn't really do a proper job in qualifying the buyer.  In addition, proof of funds from the buyer and credit scores are not substantial or well-documented.

One thing that bothers me at times is when buyers with FHA loans are overlooked simply because they're getting FHA loans.  What many sellers need to realize is that an FHA loan is NOT an indicator that a buyer has poor finances.  In fact, I've seen buyers getting conventional loans end up cancelling escrow because they cannot qualify for such a loan after all.  On the flip side, buyers need to also understand that sellers are VERY concerned about a buyer's financing these days and should make sure that they have their financing well-documented to provide to the seller.  If a buyer doesn't have very strong financing (i.e. plenty of liquid money available for a down payment, good credit scores, stable and well-documented income, steady job history, and a solid lender ready and willing to lend to this buyer), he/she needs to understand the potential limitations of purchasing certain homes as a result.

2)  Highest price, weak buyer's agent
Sometimes your real estate agent can make ALL the difference.  Real estate transactions are complicated.  There are several moving parts involved, and if not everyone is on the same page, the transaction is at risk of not closing.  If a buyer has a weak real estate agent -- i.e., won't return e-mails or phone calls, doesn't know the basic steps of a transaction, doesn't know the purchase contract, doesn't have a handle on his/her client's financing, etc. -- then everyone involved is in for a long, shaky, stressful ride.  An agent who knows how to communicate properly, act with a sense of urgency, and follow through thoroughly can actually cause a seller to want to accept the offer from that agent's client instead of another buyer simply because there's a higher chance to close escrow with the strong agent.

In my experience, I've represented buyers for whom our offer was accepted despite being a few thousand dollars less than another offer because of how well I was able to communicate to the listing agent and present my clients in the most positive and honest light possible.  In addition, I've represented sellers who accepted a lower offers on their homes because they felt that the buyers' agents were better equipped to handle and close the transactions.  In all cases noted here, I can honestly say that they were among the smoothest transactions I've ever been involved in.

3)  Highest price, won't appraise 
This is a tough one to swallow for some sellers.  There are some buyers out there who want a home so badly that they'll offer well above the list price -- and slightly above the market value in some cases.  While that's a wonderful situation for the seller, there is a risk in today's market that the home will appraise for less than the higher purchase price offered, causing issues with the buyer's financing (if any) or making the buyer feel like he/she is getting a bad deal.  What the seller needs to figure out is whether the buyer can and is willing to pay the difference between the offer price and the lower appraised value.  What the seller also has to understand is that finding a buyer who will pay above market value regardless of the appraised value may not be easy and can take much longer to find.

The key to putting any transaction together is to figure out if you're being presented with the best deal at the moment.  Figuring out what the "best deal" may be is quite subjective, and sometimes the best deal may not always mean the highest price.