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John Butler- 'Bald Guy in the Red Tie'

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Real Estate License Class in Murrieta

01-27-11
John Butler- 'Bald Guy in the Red Tie'

Get your Real Estate License in Murrieta, California with the help of The Bald Guy in the Red Tie!

Join our winning team at Exit Twin Advantage.

 

  • Want to learn the Real Estate business? We will mentor you and teach you the ropes.
  • New to the Real Estate business?  At Exit, agents can leverage their efforts and create an income stream that can fill in the gaps in their own production
  • Already a Real Estate Success?  We are attracting the finest real estate professionals because of the Exit Formula, our unique and revolutionary way of compensating our agents that includes Sponsoring, Retirement and Beneficiary Bonuses. The Exit Formula is creating wonderful new futures for real estate professionals with outstanding financial returns that are revolutionizing the business.

 

 

 

 

Exit Twin Advantage Realty is a franchise of Exit Realty Corp. International, the fastest growing real estate franchise in North America! Established in 1996, Exit Realty Corp. International is one of the most closely followed real estate franchises in the world. In just 9 years, Exit Realty has experienced record breaking growth. Since Exit Realty's beginning in Toronto, Canada, Exit Realty has become and continues to be, the fastest growing franchise of 'all time' in the Real Estate Industry. Exit Realty is doubling in franchise's sold and in agent count every year. Each year, sales volume, listings, units sold, new office openings and the number of associates have doubled and continues to grow at an unprecedented pace.

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Temecula Real Estate Question - What is escrow, and what do they do?

01-26-11
John Butler- 'Bald Guy in the Red Tie'

What is "escrow", and what do they actually do

Superhero

I think my escrow officer is great! - no one works harder on my deals than he does. Except maybe me, maybe?

What is it? Escrow is a service which provides buyers and sellers and others with a means of protection in the handling of funds and/or documents. It facilitates the buyer and the seller to transact their “deal” through a neutral party, minimizing risk. Sort of like the bridge you see when the movies show a prisoner exchange.

Most, if not all title insurance companies provide escrow settlement services or you may choose the services of an independent escrow company licensed by the Department of Corporations.

I always tell this story about how I think escrow might have been invented.
A buyer and seller agreed on a deal, they even signed a contract.
The buyer said, “Give me the keys and the deed & I’ll give you the money.”
The seller replied, “No way, give me the money first, THEN I’ll give you the keys and the deed.”
So they decided to both put all their items with instructions with a trusted third party and escrow was born.

Of course it’s more complicated than that as you’ll have inspection conditions, vendor and service provider invoices, lender instructions..... but hopefully you get the idea.

In the escrow, all parties involved give their instructions to this neutral intermediary, the "escrow holder" whose duty it is to assure that no funds or property will change hands until all instructions have been carried to completion

What do they do? Some of the things your escrow provider will do for your transaction are:
    • Center of communication between all parties.
    • Prepare escrow instructions.
    • Receive earnest money and purchase funds from the buyer.
    • Open a title order and request a preliminary title search to facilitate obtaining items needed to put title in the order requested in the escrow instructions.
    • Prepare grant deed or other documents related to escrow.
    • Request a pay-off statement for any required payoffs.
    • Comply with lender's requirements, specified in escrow agreement.
    • Prorate taxes, HOA dues, interest, insurance and rents, if any, according to instructions.
    • Coordinate the recording of deeds and any other documents as instructed.
    • Request issuance of the title insurance policy.
    • Close escrow when all of the instructions of buyer and seller have been carried out.
    • Disburse funds as authorized by instructions, including charges for title insurance, recording fees, real estate commissions and loan payoffs.
    • Prepare final statements (HUD-1 Settlement Statement) for the parties accounting for the disposition of all funds deposited in escrow.
Your escrow officer will not offer legal advice, negotiate your transaction, or offer financial advice. But he or she may be able to refer you a competent attorney, negotiator or financial advisor, or even a great Realtor.

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No Age Restriction for First Time Home Buyers in Murrieta?

01-15-11
John Butler- 'Bald Guy in the Red Tie'

First Time Homebuyers - No age restriction?

First time home buyers come in all ages in this amazing market. With lower home values and great interest rates lots of folks who thought they would never buy a home are now in the market. From college kids (not elementary school!) to retirees who’ve rented all their lives, many are taking advantage of some of the unbeatable values and programs here in Southern California.

I keep hearing from Realtors all over that we are having a half price sale. Combine that with historically low interest rates and your purchasing power is more like a 75% off sale. Enjoy my video and don’t be afraid to buy - You’ve gotta live somewhere.

 

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How to Buy Your First House in Temecula Valley

01-08-11
John Butler- 'Bald Guy in the Red Tie'

ChalkboardOf course I could just say pick up the phone and call me, but that would be too self serving. You’re probably reading this because you just want information and don’t want some real estate agent or loan officer hounding you for personal information and pushing you for a pre-approval. You just want to know the basics. Well, okay then. Here you go.

First I definitely recommend that you check out my videos on YouTube, they are fun to watch and informative. May as well have a few laughs while you’re learning. Right?

Second, Get yourself a blank notebook and start thinking. Label it “My New Home” Think about where you live now, it’s good points and bad points. Write them all down . Ask yourself, what your “must haves” are (Like 2 bathrooms*****, good schools****, close to work**, indoor laundry room*) Dream a little but be practical. The rating stars will help you later when you have to think clearly without emotion.

What can you afford? Here are the first steps in figuring that out?

Have your numbers ready. Credit Score - Income - Obligations - Investment

Credit Scores - Pull your own credit, it’s easy to do online. Check out Experian, Equifax and TransUnion. They are the big 3 credit reporting agencies and any one of them will sell you a 3-Bureau Credit Report and FICO Scores. Take a good look at them - they’ll need to be over 630 to get financing.

Income - What’s your before tax income? Do you receive child support or social security?

Obligations - Do you have car payments or lease payments? What about credit card payments. Lenders are going to look at all your monthly obligations in relation to your income. “DTI” is Debt To Income ratios. Know yours.

Investment - How much do you have saved up for down payment and closing costs?

These first steps can be fairly quick to get through for some first time homebuyers, but others may take months just whittling down what it is exactly that they want. It’s important to do these steps before you actually start looking at homes or even contacting a Realtor. Though a great Realtor, ahem, like me will be more than happy to coach you through these first steps.

Next big step - Find a professional. First you’ll need a loan officer, unless you’ve got all cash to buy with and in that case, oh never mind!) You will want to interview them because you are hiring them - so be prepared for your interview with questions. Ask for references.
Be straight up with your loan officer, they will work up a Pre Qualify or Pre Approval for you showing exactly what the maximum home price is you can qualify for.

And that little (or big) number is very important to me, oops, I mean your Realtor, the next hire you will make. Do the same thing - they will be working for you so interview them and be prepared. Some sample questions might be.
“Tell me about your real estate business.”
“Tell me about a few of your transactions with first time buyers like myself”
“What’s the worst transaction you’ve ever been through and what did you learn from it?”
“What do you expect of your clients?

You want to choose professionals with whom you feel will work well with you. A lot of that will be based upon personality types and other subjective things. But no matter how much you like them, be sure to ask the tough questions. It’s okay, really, we expect it.

Armed with your Pre Approval letter and full knowledge of what you want, need and can afford, your house hunt will be an exciting and fruitful time. Be patient; with yourself and this crazy market. Buying a home is a roller coaster ride, and as such, it's scary, and exhilarating, with lots of ups and downs.

Your Realtor is here to help you find the home you want, in the perfect neighborhood and get you all moved in, comfy and ready for friends and family to visit for a barbecue! I love barbecue! (can I request tri-tip?)
Tri tip

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3 Bedroom 2 Bath Home Wanted in the Temecula Valley area - Can you help?

01-05-11
John Butler- 'Bald Guy in the Red Tie'

Hi Realtors and Sellers in Temecula California.  I've got a great couple looking to buy a home in the Temecula area and recently featured them on my YouTube Channel.  

Check it out and if you can help - By all means - give me a shout!!

 

 

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