Well here's the truth America! Your favourite realtor hasn't been in the real estate business long! To be truthful it's only been about 2 years and a few months...that little time span is enough to tell you that it's been a struggle and I have learned so much in such little time. I recently took a regular sale, yes that's right I didn't stutter a regular seller who can choose to sell his home if the price is right without have a bank tell him what's right or wrong. Well before I took this listing, I was working and still continue working with buyers. These buyers were overly qualified in the sense that they were definetely able, ready, and willing! With 20% down payment, and making offers based on comparative market analysis with criteria like 3 months solds, 1/2 mile radius, and the best comparables for the property and financing. One of my clients wrote 7 offers over the course of four months till we got one accepted. Another wrote 5 offers in one month and got accepted the 5th time. Here's where it get's fun the most recent client wrote a total of 17 offers over the course of 7 months, of the 17 offers we made 2 offers got accepted but we cancelled on one due to vandalism on the property and the bank not wanting to pay for the repairs. Now I have a regular sale listing and within 4 days of being on the market I have a total of 24 offers! I listed the property at $299,000 and have received offers at over 10% of the asking price. This home will go into escrwo after only being 10 days on the market! A lot of the agents are telling me that they hate this game that they keep getting into, which is multiple offers on one listing. Not only are the offers good and highly qualified but the main problem is there is a lot of dual agent representation going on. I have heard agents tell me of a time when you would just write an offer for the list price and then open escrow. Well the only buyers market I know is multiple offers, no return calls from agents, weird requirements from listing agents in regards to financing. At the end I am a surviving real estate agent but surviving of what? I guess a false belief or mystery that was once flashy cars, expensive suits, and lavish lifestlyles...... till that market comes, don't expect me to cry cause you have 7,825 offers on the second day you listed your cash only bank owned property, the only thing you can expect is a greatly written offer by an agent who has never seen those brighter days you all talk about! Happy to be in a thriving real estate market!
-Benny Chavez
Without taking much time out of your day I would like to give an update of my local market here in Sunny Southern California. Buyers are off and running especially since prices were slashed last month. We went from $390,000 for a 3 bedroom 2 bath in March to $373,000 in April. With only 50 homes sold in March and 77 being sold in April, I guess you could say that inventory is getting bought up. I would also like to add that I am seeing more regular sales (not distress) and also less bank owned homes. That is not to say that some home owners are not facing foreclosure, we have buyers in the city of La Puente and we are seeing 80 short sales for every 20 bank owned properties. I expect to see more success on short sales= meaning banks are going to aid sellers in distress in getting their homes sold. So to keep it simple STEADY is more the kind of market we are in. It is definetly not going down and not going up just a steady tide till inventory is deplet
Turns out prices are dropping! Yes they have definetely dropped..... but sales have drastically increased
take a look for yourself!
DOWNEY HOME SALES REPORT FEBRUARY 2009
| $0 - $99,999 | 1 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||
| $100,000 - $149,999 | 0 | 0 | 0 | 0 | 1 | 8 | ||||||||||||||||||||||||||||||||||||
| $150,000 - $199,999 | 0 | 0 | 0 | 0 | 0 | 6 | ||||||||||||||||||||||||||||||||||||
| $200,000 - $249,999 | 0 | 1 | 0 | 1 | 7 | 2 | ||||||||||||||||||||||||||||||||||||
| $250,000 - $299,999 | 2 | 2 | 0 | 0 | 23 | 11 | ||||||||||||||||||||||||||||||||||||
| $300,000 - $324,999 | 2 | 2 | 0 | 0 | 16 | 1 | ||||||||||||||||||||||||||||||||||||
| $325,000 - $349,999 | 1 | 4 | 1 | 0 | 18 | 1 | ||||||||||||||||||||||||||||||||||||
| $350,000 - $374,999 | 2 | 4 | 1 | 2 | 14 | 6 | ||||||||||||||||||||||||||||||||||||
| $375,000 - $399,999 | 2 | 1 | 1 | 0 | 24 | 0 | ||||||||||||||||||||||||||||||||||||
| $400,000 - $424,999 | 0 | 0 | 1 | 0 | 10 | 1 | ||||||||||||||||||||||||||||||||||||
| $425,000 - $449,999 | 0 | 1 | 0 | 0 | 13 | 1 | ||||||||||||||||||||||||||||||||||||
| $450,000 - $474,999 | 0 | 0 | 0 | 0 | 7 | 0 | ||||||||||||||||||||||||||||||||||||
| $475,000 - $499,999 | 0 | 1 | 0 | 0 | 19 | 0 | ||||||||||||||||||||||||||||||||||||
| $500,000 - $549,999 | 0 | 2 | 1 | 0 | 9 | 0 | ||||||||||||||||||||||||||||||||||||
| $550,000 - $599,999 | 0 | 1 | 0 | 0 | 19 | 0 | ||||||||||||||||||||||||||||||||||||
| $600,000 - $649,999 | 0 | 2 | 0 | 0 | 10 | 0 | ||||||||||||||||||||||||||||||||||||
| $650,000 - $699,999 | 0 | 0 | 0 | 0 | 8 | 0 | ||||||||||||||||||||||||||||||||||||
| $700,000 - $749,999 | 0 | 0 | 0 | 0 | 4 | 0 | ||||||||||||||||||||||||||||||||||||
| $750,000 - $799,999 | 0 | 0 | 0 | 0 | 8 | 0 | ||||||||||||||||||||||||||||||||||||
| $800,000 - $999,999 | 0 | 0 | 0 | 0 | 23 | 0 | ||||||||||||||||||||||||||||||||||||
| $1,000,000 - $1,999,999 | 0 | 0 | 1 | 0 | 17 | 0 | ||||||||||||||||||||||||||||||||||||
| $2,000,000 and over | 0 | 0 | 0 | 0 | 3 | 0 | ||||||||||||||||||||||||||||||||||||
| (In Thousands $) | ||||||||||||||||||||||||||||||||||||||||||
| (In Thousands $) | ||||||||||||||||||||||||||||||||||||||||||
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DOWNEY HOME SALES REPORT MARCH 2009
| $0 - $99,999 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||
| $100,000 - $149,999 | 0 | 0 | 0 | 0 | 1 | 8 | ||||||||||||||||||||||||||||||||||||
| $150,000 - $199,999 | 1 | 1 | 0 | 0 | 0 | 6 | ||||||||||||||||||||||||||||||||||||
| $200,000 - $249,999 | 1 | 1 | 0 | 0 | 7 | 2 | ||||||||||||||||||||||||||||||||||||
| $250,000 - $299,999 | 1 | 3 | 0 | 0 | 23 | 11 | ||||||||||||||||||||||||||||||||||||
| $300,000 - $324,999 | 1 | 3 | 0 | 0 | 16 | 1 | ||||||||||||||||||||||||||||||||||||
| $325,000 - $349,999 | 0 | 6 | 2 | 2 | 18 | 1 | ||||||||||||||||||||||||||||||||||||
| $350,000 - $374,999 | 0 | 3 | 0 | 0 | 14 | 6 | ||||||||||||||||||||||||||||||||||||
| $375,000 - $399,999 | 1 | 3 | 0 | 0 | 24 | 0 | ||||||||||||||||||||||||||||||||||||
| $400,000 - $424,999 | 0 | 3 | 1 | 0 | 10 | 1 | ||||||||||||||||||||||||||||||||||||
| $425,000 - $449,999 | 1 | 0 | 0 | 0 | 13 | 1 | ||||||||||||||||||||||||||||||||||||
| $450,000 - $474,999 | 2 | 4 | 0 | 0 | 7 | 0 | ||||||||||||||||||||||||||||||||||||
| $475,000 - $499,999 | 0 | 0 | 0 | 0 | 19 | 0 | ||||||||||||||||||||||||||||||||||||
| $500,000 - $549,999 | 0 | 0 | 0 | 0 | 9 | 0 | ||||||||||||||||||||||||||||||||||||
| $550,000 - $599,999 | 1 | 3 | 0 | 0 | 19 | 0 | ||||||||||||||||||||||||||||||||||||
| $600,000 - $649,999 | 0 | 0 | 1 | 0 | 10 | 0 | ||||||||||||||||||||||||||||||||||||
| $650,000 - $699,999 | 0 | 0 | 2 | 0 | 8 | 0 | ||||||||||||||||||||||||||||||||||||
| $700,000 - $749,999 | 0 | 0 | 2 | 0 | 4 | 0 | ||||||||||||||||||||||||||||||||||||
| $750,000 - $799,999 | 0 | 0 | 0 | 0 | 8 | 0 | ||||||||||||||||||||||||||||||||||||
| $800,000 - $999,999 | 0 | 0 | 0 | 0 | 23 | 0 | ||||||||||||||||||||||||||||||||||||
| $1,000,000 - $1,999,999 | 0 | 0 | 1 | 0 | 17 | 0 | ||||||||||||||||||||||||||||||||||||
| $2,000,000 and over | 0 | 0 | 0 | 0 | 3 | 0 | ||||||||||||||||||||||||||||||||||||
| (In Thousands $) | ||||||||||||||||||||||||||||||||||||||||||
| (In Thousands $) | ||||||||||||||||||||||||||||||||||||||||||
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THINKING OF BUYING? DON'T THINK TOO LONG..... RIGHT NOW YOU KNOW PRICES ARE LOW WHY NOT
BUY WHEN YOU KNOW INSTEAD OF RUSHING TO BUY WHEN YOU DON'T!
COMPETING SELLERS CAN LEARN QUITE A FEW THINGS FROM BANKS WHEN LISTING IN TODAYS MARKET:
GOOD LUCK
I will start by saying I consider myself a very positive person, but I will immediately stop hoping and start
knowing. You see I was hoping that the recession would end this year, I was hoping that Obama would save
us, I was hoping that the housing market would recooperate, I was hoping families wouldn't loose their
homes, I was hoping, hoping, hoping. HOPE is a great thing it is described as a belief in a positive outcome
related to events and circumstances in one's life. I say let's stop HOPing and begin knowing! WHAT????
you might ask..... well I know the recession will end this year because I sold more homes this January
than I did last January. I know people will become home owners because in the city I live in there were 87
homes under contract. I know OBAMA will save us because I already see a change! I know people will stop
losing their homes because OBAMA will help, all of US will help, we will make OUR country better than it's
ever been by working together for a better TODAY! I spoke to a soon to be homeowner today and she said I
know I will be a homeowner before the summer! She has not lost HOPE, she just KNOWS! I am asking
everyone of you reading this today to know that things will get better, to know that the US is a great
country, to know that it is your land, and to know that you will make it better!
KNOW!! NOW!!
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Specializing in the Aquisition and Disposition of Real Estate assets
One of the most recognized and respected professionals in Southern California, Benny Chavez and his team serve a distinguished clientele with unsurpassed discretion, market knowledge, personal service, and commitment to builiding enduring relationships.
Benny Chavez and his team have a proven track record of helping people buy and sell real estate in and around the Los Angeles and Orange Counties. Finding a home in a Southern California community that's a solid match for you is what we do best. So why not leave the thorough, time-consuming neighborhood research to us! We are among the top Southern California Realtors and can show you all the finest real estate listings, help you sell your home, and more.
The Chavez Group has focused mainly in the Southern California cities of Downey, Norwalk, Paramount, Lakewood, LongBeach, Paramount, Bell, Bellflower, Southgate, Lynwood and Los Angeles. We focus on assisting First Time Investment Buyers, Investment Consulting, Expired Listings Assistance, Bank Owned Property sales, Short Sales, Conventional sales, and Relocation assistance. Benny Chavez has worked in the customer service industry for over 15 years and brings his experience to the table when servicing his clients.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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