About Huntington Beach's Huntington Harbour

Short Sale vs. Foreclosure In Huntington Harbour, CA

One of the toughest decisions facing homeowners in Huntington Harbour these days is whether or not to do a short sale.

Most homeowners don’t understand the process, but what’s even scarier is that most real estates don’t either. Many agents tend to shy away from short sales because they don’t understand how they work.

#1 – SELECT THE RIGHT AGENT

Like all other professions, real estate agents are not created equally! A Huntington Harbour short sale is a very complicated and arduous type of transaction, and most agents just don’t not where to begin. As a seller, YOU MUST SELECT YOUR AGENT CAREFULLY! Choose an agent that is familiar with the process and who has successfully completed at least a couple of short sales preferably with multiple lenders. Make sure they know every step of the process and have all the tools necessary to meet the demands of the short sale lenders. This is CRITICAL and not to be taken lightly. Yes, you may have a friend or family member who is a Realtor, but that doesn’t mean they should be the one handling your Huntington Harbour short sale. Just think about what will happen if something goes wrong, and your home is foreclosed on… now what??

#2 – ASK THE RIGHT QUESTIONS

Most homeowners don’t know what the right questions even are, so here is a short list of things to ask. Again, if your agent can’t answer these quickly and without needing to check, move on .
“How long will this take?”
“What do I need to do while the short sale is progressing?”
“Does it matter if I have 2 different lenders?”
“How will this affect my credit?”
“Will I be subject to a deficiency judgment?”
“What are my tax consequences?”
“Does it matter if I have refinanced?”

The agent you select should immediately know the answers to these questions. If they don’t, it’s a likely a sign that they haven’t been involved in the short sale process in Huntington Harbour. So what do you do? Keep interviewing!! It cannot be overstated just how important this is.

#3 – MOVE OUT OR STAY

If you have a true financial hardship, most lenders will not be surprised to find out you’re still living in the property. While there are many reasons to initiate a short sale, financial hardship is generally the most common. When working with buyers, I often show short sale listings, and most of the time, the homeowner still does reside in the property. This is more common than most people think and not something to be embarrassed about. Times are tough right now, and many people are going through the same or very similar situations right here in your neighborhood.

#4 – PROVIDING DOCUMENTATION

All short sale lenders will require similar pieces of information, such as bank statements, tax returns, and pay stubs. Some lenders will require other pieces of information as well. But whatever they are asking for, it IS required. They will not review the short sale without it, so don’t think you can hide this information from them. Just provide them what they ask for in as timely a manner as possible, and let the lender decide whether or not there’s a reason to not approve the short sale.

#5 – CONTRIBUTIONS

The questions I get most often always seem to revolve around seller contributions. This is a complicated answer and not one easily addressed in a blog. As a generally rule of thumb, CASenate Bill SB 458 has made contributions from a seller illegal in an accepted short sale, but this only addresses short sales in California, not in any other state. For your Huntington Harbour short sale, I suggest following the link above and reading the SB 458 entirely. I would also be happy to meet with you and explain how this works logistically as part of the short sale process.

Loan modifications are usually rejected, and most lenders won’t tell you that up front. Even in the few cases that are approved, there is generally an amount pushed to the back of the loan, NOT FORGIVEN, just postponed. Most of the time, you will still have to repay your entire loan amount, just in a re-structured manner.

Foreclosures and Deed in Lieu of Foreclosure both carry serious consequences and should be avoided at all costs. Short sales are your best option when dealing with a financial hardship, and even with certain other hardships relating to your home. But make sure your agent knows how to properly navigate you through the process and has experience and success with short sales in Huntington Harbour.

Short Sale vs. Foreclosure In Huntington Beach CA

One of the toughest decisions facing homeowners in Huntington Beach these days is whether or not to do a short sale.

Most homeowners don’t understand the process, but what’s even scarier is that most real estates don’t either. Many agents tend to shy away from short sales because they don’t understand how they work.

#1 – SELECT THE RIGHT AGENT

Like all other professions, real estate agents are not created equally! A Huntington Beach short sale is a very complicated and arduous type of transaction, and most agents just don’t not where to begin. As a seller, YOU MUST SELECT YOUR AGENT CAREFULLY! Choose an agent that is familiar with the process and who has successfully completed at least a couple of short sales preferably with multiple lenders. Make sure they know every step of the process and have all the tools necessary to meet the demands of the short sale lenders. This is CRITICAL and not to be taken lightly. Yes, you may have a friend or family member who is a Realtor, but that doesn’t mean they should be the one handling your Huntington Beach short sale. Just think about what will happen if something goes wrong, and your home is foreclosed on… now what??

#2 – ASK THE RIGHT QUESTIONS

Most homeowners don’t know what the right questions even are, so here is a short list of things to ask. Again, if your agent can’t answer these quickly and without needing to check, move on .
“How long will this take?”
“What do I need to do while the short sale is progressing?”
“Does it matter if I have 2 different lenders?”
“How will this affect my credit?”
“Will I be subject to a deficiency judgment?”
“What are my tax consequences?”
“Does it matter if I have refinanced?”

The agent you select should immediately know the answers to these questions. If they don’t, it’s a likely a sign that they haven’t been involved in the short sale process in Huntington Beach. So what do you do? Keep interviewing!! It cannot be overstated just how important this is.

#3 – MOVE OUT OR STAY

If you have a true financial hardship, most lenders will not be surprised to find out you’re still living in the property. While there are many reasons to initiate a short sale, financial hardship is generally the most common. When working with buyers, I often show short sale listings, and most of the time, the homeowner still does reside in the property. This is more common than most people think and not something to be embarrassed about. Times are tough right now, and many people are going through the same or very similar situations right here in your neighborhood.

#4 – PROVIDING DOCUMENTATION

All short sale lenders will require similar pieces of information, such as bank statements, tax returns, and pay stubs. Some lenders will require other pieces of information as well. But whatever they are asking for, it IS required. They will not review the short sale without it, so don’t think you can hide this information from them. Just provide them what they ask for in as timely a manner as possible, and let the lender decide whether or not there’s a reason to not approve the short sale.

#5 – CONTRIBUTIONS

The questions I get most often always seems to revolve around seller contributions. This is a complicated answer and not one easily addressed in a blog. As a generally rule of thumb, CASenate Bill SB 458 has made contributions from a seller illegal in an accepted short sale, but this only addresses short sales in California, not in any other state. For your Huntington Beach short sale, I suggest following the link above and reading the SB 458 entirely. I would also be happy to meet with you and explain how this works logistically as part of the short sale process.

Loan modifications are usually rejected, and most lenders won’t tell you that up front. Even in the few cases that are approved, there is generally an amount pushed to the back of the loan, NOT FORGIVEN, just postponed. Most of the time, you will still have to repay your entire loan amount, just in a re-structured manner.

Foreclosures and Deed in Lieu of Foreclosure both carry serious consequences and should be avoided at all costs. Short sales are your best option when dealing with a financial hardship, and even with certain other hardships relating to your home. But make sure your agent knows how to properly navigate you through the process and has experience and success with short sales in Huntington Beach.

How Do I Start a Short Sale In Huntington Harbour CA

One of the toughest decisions facing homeowners in Huntington Harbour these days is whether or not to do a short sale.

Most homeowners don’t understand the process, but what’s even scarier is that most real estates don’t either. Many agents tend to shy away from short sales because they don’t understand how they work.

#1 – SELECT THE RIGHT AGENT

Like all other professions, real estate agents are not created equally! A Huntington Harbour short sale is a very complicated and arduous type of transaction, and most agents just don’t not where to begin. As a seller, YOU MUST SELECT YOUR AGENT CAREFULLY! Choose an agent that is familiar with the process and who has successfully completed at least a couple of short sales preferably with multiple lenders. Make sure they know every step of the process and have all the tools necessary to meet the demands of the short sale lenders. This is CRITICAL and not to be taken lightly. Yes, you may have a friend or family member who is a Realtor, but that doesn’t mean they should be the one handling your Huntington Harbour short sale. Just think about what will happen if something goes wrong, and your home is foreclosed on… now what??

#2 – ASK THE RIGHT QUESTIONS

Most homeowners don’t know what the right questions even are, so here is a short list of things to ask. Again, if your agent can’t answer these quickly and without needing to check, move on .
“How long will this take?”
“What do I need to do while the short sale is progressing?”
“Does it matter if I have 2 different lenders?”
“How will this affect my credit?”
“Will I be subject to a deficiency judgment?”
“What are my tax consequences?”
“Does it matter if I have refinanced?”

The agent you select should immediately know the answers to these questions. If they don’t, it’s a likely a sign that they haven’t been involved in the short sale process in Huntington Harbour. So what do you do? Keep interviewing!! It cannot be overstated just how important this is.

#3 – MOVE OUT OR STAY

If you have a true financial hardship, most lenders will not be surprised to find out you’re still living in the property. While there are many reasons to initiate a short sale, financial hardship is generally the most common. When working with buyers, I often show short sale listings, and most of the time, the homeowner still does reside in the property. This is more common than most people think and not something to be embarrassed about. Times are tough right now, and many people are going through the same or very similar situations right here in your neighborhood.

#4 – PROVIDING DOCUMENTATION

All short sale lenders will require similar pieces of information, such as bank statements, tax returns, and pay stubs. Some lenders will require other pieces of information as well. But whatever they are asking for, it IS required. They will not review the short sale without it, so don’t think you can hide this information from them. Just provide them what they ask for in as timely a manner as possible, and let the lender decide whether or not there’s a reason to not approve the short sale.

#5 – CONTRIBUTIONS

The questions I get most often always seems to revolve around seller contributions. This is a complicated answer and not one easily addressed in a blog. As a generally rule of thumb, CASenate Bill SB 458 has made contributions from a seller illegal in an accepted short sale, but this only addresses short sales in California, not in any other state. For your Huntington Harbour short sale, I suggest following the link above and reading the SB 458 entirely. I would also be happy to meet with you and explain how this works logistically as part of the short sale process.

Loan modifications are usually rejected, and most lenders won’t tell you that up front. Even in the few cases that are approved, there is generally an amount pushed to the back of the loan, NOT FORGIVEN, just postponed. Most of the time, you will still have to repay your entire loan amount, just in a re-structured manner.

Foreclosures and Deed in Lieu of Foreclosure both carry serious consequences and should be avoided at all costs. Short sales are your best option when dealing with a financial hardship, and even with certain other hardships relating to your home. But make sure your agent knows how to properly navigate you through the process and has experience and success with short sales in Huntington Harbour.

Do you know there are 7 secrets to selling your home?

Did you know there is a secret real estate formula?

Did you know there are only three main factors that affect the marketability of a home?

Did you know most real estate professionals don't even know or can tell you what the those three main factors are that affect the marketability of a home?

Did you ever think about how is that realtor going to know how to balance your real estate formula if they don't know what those three factors affecting marketability?

Well by now you have guessed right, THEY CAN'T!

There ar 7 secrets to selling your home and the first is:

1. Know the real estate formula

2.Have a listing website that is unique to that property

3.Have an eTour-We are in the video age. Look how Youtube has exploded!

4.Have an 800 Call Capture number-All interested buyers should be called back!

5.Syndicate your home for sale on the web

6.Have SMS Texting capabilities to send directly to smart phones

7.Have Interactive Mapping and direction features-Google loves this and their spiders will grab that information and give your property more exposure.

The real estate formula is simply PRICE + ACCESS+ WAGES= SOLD HOME. These are the factors that affect the marketability and if your agent understands that all three must be in balance or the home will sit on the market.

Experience shows, homes in this market need to be PRICED at just a hint under the market value or no one will go see the home. National Association of Realtors tell us 82% of all buyers start their search for a home on the internet, and today's buyers have a pretty good feel for what their dollar will buy and if a home is within market value range or not.

Access to the home is critical, in today's market 30%-40% of the sales are distressed foreclosure sales. Bank Owned Foreclosures also known as REO's are vacant, so a buyer and their agent can go anytime, multiple times to see a home, this increases exposure to the property. Banks know how to price a home at market value, and always put a sign and have the home vacant when they put it on the market. They also understand the compensation necessary to attract a buyer's agent who controls the buyers and the inventory which they will see. So they give fair compensation to buyer's agents.

Which brings us to the third factor-WAGES this is also known as commissions which traditionally home owners think of it as what they pay to have a buyer's agent bring them a ready, willing and able buyer, to negotiate the deal and get it closed. But in today's market Banks and Developers both compete with individual home owners. They understand as good business people who are not emotionally attached to the property that the wages/commissions provide a far greater function and that is, the commission also serves as an advertising fee which pops off the page of the MLS when an agent has too much inventory to select from to provide to a buyer the agent through the mls limits the search criteria to a minimum compensation of 3%. When you have a boxy looking 4% or 5% sitting on a page of 100 plus listings all of which are the same criteria, it only makes sense that agent will say, "Let's go look at this home first" which is exactly what Developer/Lender or Savy Business person wanted the commission to do. Developers market to Broker's and agents directly offering 4,5,6 percent plus bonuses on a routine bases and even brandish to the agents that they will have to do very little paperwork. That is who YOU as a homeowner are competing with, does that make sense?

A unique listing website is important, because agents routinely make the mistake of hiding their newest listing in a sea of other listings rather than creating a separate unique website featuring the property. Again it's all about exposure and marketing. After all, you need only one buyer to purchase the home, but if you have enough exposure and you get 2 or more, that will automatically drive up the price of the home because, you guessed right, people naturally want what they can't have. So as soon as someone else validates your home is a great home, they fear the loss of being able to buy your home and will automatically offer list price or better to make sure they get it. A buyer only has to loose one or two homes this way to realize, if they don't offer full list price in a multiple offer situation they are never going to get a home. And let's face it, after a while, buyers get tired of looking at homes and just want to pull the trigger, find the home, buy it and start living in it and enjoying their new lifestyle in it.

Etours, I don't have to elaborate to much here. It's obvious to all of us who have witness Youtube over the past 9 years explode in the amount of traffic it get's and all the viral videos and stars that have been discovered as a result of youtube. Video's sell, and buyers want an etour of the home before they coordinate schedules with their significant other to go take the time to see the home in person.

1-800 call capture numbers and a Free Recorded audio tour of the home is also one of the arrows in an Expert's quiver, because we all know, nobody likes to deal with sales people, but we do want the information. So, it's less likely they will call the real estate sign, because they will have to deal with a salesperson, but a 1-800 number with a Free Recorded message, that's not threatening and they will get the information they so greatly desire and crave. What's great about this is that now I have captured that prospective buyer's phone number and my system tells me which property address they called on and they can either press 1 to get the audio tour sent to their phone, 2 connect to the agent on call or 3 exit the system. Whether they want to connect with me or not, I promise my seller I will follow up with anyone showing an interest in the property. I then call them and provide them any information they seek. Most of the time the buyer's are surprised I have called back so quickly because most agents are not efficient at tracking let alone returning their calls.

The SMS Texting of the etour to a prospective buyers phone is satisfying the digital appetite and the microwave results buyers have for getting what they want conveniently and immediately.

And lastly, syndicating and broadcasting a home for sale and having a digital marketing strategy to give the home the widest exposure to the market place on the web is how true experts drive their business and get the most for the Homeowners they represent. This is directly tied into the fact that google is zip code driven and has GPS and geo locators for everything which again drive more traffic to your home for sale. Gone are the days of just sticking a sign on a home, relying of just the cars that drive by that sign, and having the home listed on the Multiple Listing Service. The l is on the net and that is where you need to be. Being aware of these 7 Secrets now explain why some homes sell right away and other's stay on the market for months sometimes years.

If you are wondering what the market is doing in your neighborhood, contact us now and I would love to do some research for you and send you an email that will tell you what homes are for sale now, what homes have sold recently and how long homes are taking to sell in your neighborhood. So you can feel secure in the knowledge that you have the most accurate information. This timely information will tell you right away how your market is right now! I imagine that information would be of value to you, would it not?

And those are the 7 Secrets to selling your home!

To View the 7 Secrets video SIGN UP NOW 7 Secrets to Selling Your Home Secrets

How Do I Select A Real Estate Agent?®

"My Realtor® doesn't seem to know much more than I do!"

I'm hearing this one quite a bit lately from people who are not having a good experience with their agent. While I cannot explain the sudden increase, I think it stems from not knowing how to go about selecting an agent.

Most buyers and sellers have no idea how to go about selecting an agent. Strange, if you really think about it, considering they're hiring someone to perform one of the single most important jobs possibly in their life to that point. It's also a job that comes with quite a bit of liability and responsibility, and selecting the right agent shouldn't be something taken lightly.

MISTAKE #1 - "I picked the agent who had the nicest flyer"
Some agents market better than others. And while this is important for an agent's future business, it's absurd to select your agent because he or she hired the best marketing person or went to the best printer in town! Sure, give them a call, but make sure you interview them first.

MISTAKE #2 - "I picked the agent with the best website"
Again, this is about marketing, not about real estate knowledge or experience. Most agents don't even touch their website! They hire a company to maintain it for them. If you like the site, that's fine. Give the agent a call, but make sure you interview them. Don't select them on this alone!

MISTAKE #3 - "My Friend/Family Member has a Real Estate License"
This one is a bit less black and white. Getting a sales license isn't that tough (A Broker's license is much tougher to get and maintain...more later). The important part here is "full time" or "part time", and how much experience. If your friend or family member only does this on the side (or "part time"), then this could be a very bad idea. The market, laws, rules and regulations change so often lately, that if this is not an agent's full time job, I would recommend strongly against it. Also, did they just get their license or have they had it for years? I know this isn't the thing that newly licensed agents want to hear, but would you want a doctor fresh out of med school to perform brain surgery on you? Would you want a lawyer just out of law school to defend you in a criminal trial? Then why would you want an agent fresh out of... agent school... to sell your home? (I know this part is going to get blasted, but hey, it's something to consider).

MISTAKE #4 - "I Went with the Biggest Name in My Area"
Why??? In my opinion, this is one of the most common way that sellers select the wrong agent. When you pick the BIGGEST or BUSIEST agent, do you know what you get? They're assistants! Not at all saying that the assistants aren't completely competent, in fact, they're often much better agents in my opinion. But that's not why the seller selected the "Big Name". They assume they'll be able to deal directly with them, only to find out later that they saw them twice... when they took the listing and at close of escrow. Plus, these big agents often have so many listings that it's IMPOSSIBLE to give personal and attentive service. It's not even their fault! It just can't be done.

So What Do I Do?

While there are several things to consider, here is a short list of some "MUST DO's" to help find the right agent for you.

1) Ask the agent if they own their own home ~ You'd be surprised how many agents rent. If your dentist had no teeth, would you let him or her work in your mouth? If your doctor had giant sores all over his or her body, would you want them to give you a physical? So if your agent has never paid a mortgage, or property tax, or maintained a home, why would you let them advise you on what to do?

2) Ask the agent if they've ever bought and/or sold investment property ~ While this is not as crucial as #1, I think you'll see quite a big difference between agents who only own one property versus agents who have bought and sold many. Again, experience! The best way to learn is by doing. And while you can learn a lot just by being an agent for many years, you learn much more when it's your own property on the line.

3) Ask the agent who you will be dealing with most of the time ~ SELLERS: If the answer here is an assistant or associate (or even a Transaction Coordinator or "TC") my advice is to move on to the next agent. You really want an agent who will pick up the phone when you call, come over if need be, and be your primary point of contact from start to finish. If an agent is too busy for that, how important do you think your particular sale is to them?
BUYERS: This is a little different. Often times, big listing agents have specific buyers' agents. This is normal and not problematic in my opinion. They're doing this because they are giving their sellers all their attention (which they should be), and their "buyers' agents" are often very good. 9 times out of 10, I'd say they have a better understanding of a larger geographical area, and while their skill set may be different from a listing agent, they are often a bit more in tune with changes in the market.

4) SHORT SALES - Ask them how many they've successfully completed ~ Short sales are here to stay for a while, and they are in a constant state of change. They are difficult, time-consuming, arduous, and complicated. DO NOT leave these up to chance. Go with an agent who has successfully completed several, if you can find one, and who maybe even has some that they are currently working on. Experience in short sales is a MUST in my opinion.

5) Ask them if they have a Broker's license ~As I mentioned before, this is not critical. Most of the time, you're going to get a "No" on this one, and that's not the end of the world. I would say this, if you get a "Yes", this is definitely something to consider.

It's impossible to list all the DO's and DON'T's, but if you follow this guide, chances are you should end up at least with a knowledgeable, experienced, full time agent who will work hard for you. There are other things that matter, so trust your instincts. Interview several agents, as many as you want. Agents are all different, and you'll learn a lot just by talking to them!

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