The real estate market here on the Westside of Los Angeles remains ‘transitional', with less than 6 months of supply. In anticipation of the possiblity of continued downturn through ‘09, I have just completed the CSP course and am now a Certified Short Sale Professional. Having represented both buyers and sellers through a short sale (also known as pre-foreclosure) transaction over the past year, I learned first-hand that they require a very specific skill set to manage successfully. When I learned about this Certification, I was keenly aware of the value of this advanced training and education, and I was not disappointed. I can, with confidence say that I am the BEST POSSIBLE agent on the Westside of Los Angeles to assist sellers who may be at risk of foreclosure to help them determine their options.
I HIGHLY recommend the CSP-Certified Short-Sale Professional program to my fellow Realtors.
I look forward to writing some informative articles based on my learnings so that people in my World are educated on pre-foreclosure options.
This article was originally published in categories: Foreclosure Avoidance, Home Buying Tips, Home Selling Tips, Santa Monica Real Estate at BestSideOfTheWestSide.com titled: Avoiding Westside LA Real Estate Foreclosure In Uncertain Times
I can promise you that it's anything but a short transaction!
Simply put, a short sale (also referred to as a ‘pre-foreclosure'), involves the sale of real estate whereby the proceeds from the sale fall short of the balance owed on a loan secured by the property. In a short sale, the bank or mortgage lender agrees to discount a loan balance due to an economic or financial hardship that exists on the part of the owner/borrower. This negotiation is all done through communication with a bank's Loss Mitigation department.
The home owner/borrower sells the mortgaged property for less than the outstanding balance of the loan, and turns over the net proceeds of the sale to the lender, sometimes (but not always) in full satisfaction of the debt. In such instances, the lender would have the right to approve or disapprove of a proposed sale. Most Short Sales leave a deficiency balance for which the home owner / borrower is still liable. In 99% of all cases it is not a settlement-in-full. A deficiency balance will remain to the bank while the mortgage broker, real estate agent / broker, loan officers, title and closing agents fees are covered, for the most part. No regulatory agency governs this hybrid transaction.
Extenuating circumstances influence whether or not a particular bank will discount a loan balance. Generally, these circumstances are related to the current real estate market and the borrower's financial situation.
A short sale typically is executed to prevent a home from foreclosure. Often a bank will allow a short sale if they believe that it will result in a smaller financial loss than foreclosing. For a home owner, the advantages of a short sale include avoidance of a foreclosure on their credit history and partial control of the monetary deficiency. A short sale is typically faster and less expensive than a foreclosure.
In brief, a short sale is nothing more than negotiating with lien holders for a payoff that is less than what they are owed; or rather a sale of a debt, generally on a piece of real estate, short of the full debt amount. It does not extinguish the remaining balance unless settlement is clearly indicated on the acceptance of offer.
Short sales are quickly being re-adopted as a common and standard business transaction for the banks, in recognition that creditors are not doing debtors a favor but, rather, engaging in a business transaction when extending credit. When it makes no business sense or is economically not feasible to retain an asset, businesses default on their loans (called bonds). It is not uncommon for business bonds to trade on the after-market for a small fraction of their face value in realization of the likelihood of these future defaults.
If you're interested in finding Santa Monica Short Sales or foreclosures please don't hesitate to contact me. I am a certified short sale specialist.
This article was originally published in category Los Angeles Real Estate at BestSideOfTheWestSide.com titled What the Heck Is a Short Sale?
I just renewed my membership for the 3rd year with the Allen F. Hainge CyberStars® and I'm VERY excited about a deeper involvement in one of the real estate industry's best membership-based organization.
Our group, the CyberStars®, has one primary purpose: To create a true family of like-minded real estate professionals who freely share ideas, tip and techniques as they apply to using technology to increase market share.
What's most compelling about participation in such as special group is that our family has grown into the most caring, sharing group of agents in the real estate industry today...a true family.
At the beginning of each year. Allen Hainge holds a members-only CyberStar® Summit, which I am leaving for on Sunday! I can't wait to network with 150+ like-minded colleagues to share and mastermind ideas with. We'll spend 3 full days in Scottsdale, AZ to share information on how we're building our businesses, trading tips and techniques on using the latest technology, and networking with other agents from across the country, in order to build a strong referral-based business.
My involvement in this group helps me be a better agent, for sure. I have learned the most amazing techniques to market and sell properties. I have learned about systems to develop deeper relatioships with buyers that don't know me from Eve. I have learned that, on the Internet, it's not who you know, but who knows you that makes the difference.
I'm sure there will be more to share upon my return from The Summit.
This article was originally published in categories: Home Buying Tips, Home Selling Tips, Los Angeles Real Estate at BestSideOfTheWestSide.com titled: I'm a CyberStar and PROUD!
|
Single |
|
Pending |
Sold |
Sold |
|
90402 |
42 |
7 |
0 |
6 |
|
90403 |
12 |
1 |
2 |
1 |
|
90404 |
8 |
2 |
0 |
1 |
|
90405 |
36 |
5 |
2 |
3 |
|
Total |
98 |
15 |
4 |
11 |
|
|
Active |
Pending |
Sold |
Sold |
|
90402 |
24 |
3 |
0 |
0 |
|
90403 |
55 |
16 |
0 |
0 |
|
90404 |
48 |
14 |
0 |
0 |
|
90405 |
40 |
11 |
0 |
0 |
|
Total |
167 |
44 |
0 |
0 |
|
Single |
Median $ |
Average $ |
Average |
|
90402 |
1,650,000 |
2,198,333 |
71 |
|
90403 |
2,183,500 |
2,183,500 |
42 |
|
90404 |
749,000 |
749,000 |
120 |
|
90405 |
1,052,621 |
1,052,621 |
67 |
|
Total |
5,635,121 |
6,183,454 |
300 |
|
|
Median $ |
Average $ |
Average |
|
90402 |
1,695,000 |
1,577,375 |
70 |
|
90403 |
629,475 |
647,994 |
63 |
|
90404 |
649,950 |
674,106 |
53 |
|
90405 |
737,000 |
744,571 |
70 |
|
Total |
3,711,425 |
3,644,046 |
256 |
|
|
Active |
Pending |
Sold |
|
90402 |
0 |
0 |
0 |
|
90403 |
0 |
0 |
0 |
|
90404 |
0 |
0 |
0 |
|
90405 |
0 |
0 |
0 |
|
Total |
0 |
0 |
0 |
|
|
Active |
Pending |
Sold |
|
90402 |
0 |
0 |
0 |
|
90403 |
0 |
1 |
0 |
|
90404 |
0 |
0 |
0 |
|
90405 |
0 |
0 |
0 |
|
Total |
0 |
1 |
0 |
|
Short |
Active |
Pending |
Sold |
|
90402 |
0 |
0 |
0 |
|
90403 |
0 |
0 |
0 |
|
90404 |
1 |
0 |
0 |
|
90405 |
1 |
1 |
2 |
|
Total |
2 |
1 |
2 |
|
Short Townhome |
Active |
Pending |
Sold |
|
90402 |
0 |
0 |
0 |
|
90403 |
0 |
0 |
0 |
|
90404 |
1 |
1 |
0 |
|
90405 |
0 |
0 |
0 |
|
Total |
1 |
1 |
1 |
This article was originally published in categories: Los Angeles Real Estate, Santa Monica Real Estate at BestSideOfTheWestSide.com titled: Santa Monica Real Estate Market Update | January, 2009
My dear friend Jeff Hoffman just introduced me to a very exciting venture called iLearning Global....a way cool business idea whose time has come. iLG is a Worldwide membership-based, internet portal for continuous education and learning. iLG is a collaboration of the greatest minds in the personal and professional growth industries. It is quite simply, the most comprehensive, easy to access, and convenient vehicle to get ahead and stay ahead in a challenging and competitive world.
I am SO learning-based. This service is brilliant.
What Makes iLG Unique? The technology, the leadership, the vision:
Technology. iLG is utilizing a patented bleeding-edge video technology that delivers high definition (HD), full screen video over the Internet. You've never seen anything like this before...just think...no loading, no buffering, no low quality streaming.
Leadership. Never before in the history of the personal and professional growth industries has there been such a collection of great leaders working together for one common goal. iLG is the greatest mastermind that has ever been organized.
Vision. iLG's vision to be the premier education portal in the world with millions of members from every country around the world. iLG's mission is to create one million millionaires by the year 2020.
The investment you ask? You'll be shocked when you find out, but I'm not telling you...yet.
You can check out a bunch of introductory videos now. And if you get excited by what you hear and see, just click Join Now
The education portal is being populated with content, and new speakers are being added every day.
This article was originally published in category: Lifestyle At BestSideOfTheWestSide Titled: Next Generation Virtual Learning Is Here!
Real estate (single family, condos & investment property) in Santa Monica, CA and the surrounding areas of West Los Angeles, Venice, Marina del Rey, Brentwood, Westwood, Culver City.
Dana Ehrlich and the Team - Best Side Of The West Side
We are a dedicated group of professionals that and live, work and play in Santa Monica, Venice, and the Westside of Los Angeles. We consider Santa Monica our stomping ground, our neighborhood, our home. Los Angeles is very large and we sell properties from Marina Del Rey all the way to Malibu. Although our main markets in Los Angeles County are Santa Monica, Venice and West Hollywood, we are flexible and go beyond those limits. Some other cities within Los Angeles County that we cover include: Dana's extensive career in the marketing world gives her a distinct edge in the real estate market. Dana was CEO at Erhlich and Richard marketing before finding a love for real estate in 2001. She holds a Bachelor's degree from Bard College in Massachusetts. Her passion is marketing high-end, luxury, historic, and beachfront single-family residences as well as condos. The rest of the team is constructed of an in-office assistant, buyer's agent, transaction coordinator, and various "virtual assistants" that help her achieve multiple technology related goals. Dana is an active member of the CyberStars®, a group of realtors that has one primary purpose: To create a true family of like-minded real estate professionals who freely share ideas, tip and techniques as they apply to using technology to increase market share. Visit our website BestSideOfTheWestSide.com to learn more about us. The website offers everything you need to buy or sell real estate in the Los Angeles Area from: Our BestSideOfTheWestSide.com blog gives you local information about the West Side of L.A. from places to visit, restaurants, local events. We also write Santa Monica Real Estate Stories that can give you inside information about the industry that you can't get elsewhere. You can also get information that focuses on Real Estate Buyers and Sellers - click on "categories" on the left menu to get a wealth of information about Santa Monica and Santa Monica Real Estate. We produce monthly in-depth Real Estate Marketing Reports on the areas we work that provide information not easily found anywhere else. With easy to read graphs and charts and Santa Monica real estate market trends. Our mission with this blog Our goal with this blog is challenging - To open a channel of communication where we can have honest discussions with our customers about market conditions, about the ways we deal with daily issues in Real Estate and about our daily life in general. Although we are Realtors and we do sell properties, we want our customers to trust us and to know that we represent their best interest. We have established a great reputation and hope to convey that message to our readers. 
As Santa Monica's local area expert with complete knowledge of the Bel Air, Beverly Hills, Beverlywood, Brentwood, Cheviot Hills, Culver City, Malibu, Marina Del ray, Pacific Palisades, Playa Del Ray, Playa Vista, Rancho Park, Santa Monica, Venice, West Hollywood, and Westwood areas, my objective is to work diligently to assist you in meeting your real estate goals.
With a sales and marketing background that spans over 24 years, I offer you a wealth of talent and abundance of resources that have served my clients brilliantly.
From my lifetime of living on the Westside of Los Angeles to my extensive track record of serving my client's needs for a lifelong relationship, I am a positive force and a respected asset to the Keller Williams enterprise.
In forming my business around the value of partnership and service, my primary focus on the people I work with, and for, sets me apart. It is these important qualities that have allowed me to establish a reputation for consistently producing outstanding results.
Whether clients are seeking a larger home for a growing family or downsizing into a smaller home to fit a new, empty-nest lifestyle, I enjoy helping my clients deal with the changing times in their lives.
"Being able to affect people´s lives and really help them make it through the transition, to get them where they´re going, is very gratifying for me. It touches me at my core."
The relationship I build with my clients does not stop after keys are exchanged. My clients are always calling me as their community resource, it doesn´t matter what it is: a recommendation to a restaurant, a referral to an accountant or an idea for a weekend get-a-way. I make it known to my clients that I want to be able to support them. It´s not just about the transaction, it´s about, "How else can I be of service to you?´"
It's as if everything I´ve done in my professional life has prepared me for my career in real estate. As a top-producing residential consultant with Keller Williams I have the knowledge and experiene you need to reach a successful real estate transaction. If you are considering buying or selling a home or would just like to have additional information about real estate in your area, please don't hesitate to call or e-mail me.
Dana had the patience and tenacity
I had already been "fired" by two real estate agents before I was referred to Dana Ehrlich. I had been told that I was "unrealistic," and I would "never find what I wanted" at a price I was willing to spend, not in today's market. But Dana had the patience and tenacity to stick with me as I looked over scores of condos, and wavered about what area I wanted to live in. Finally, with Dana's help, I focused on what was most important to me and located a home I love. In working with Dana, I was impressed, time and time again, with her warmth, her personability, her knowledge and her eagerness to assist. Not only did she guide me through the search and massive amounts of paperwork, but also she possessed a wealth of knowledge about the outside contractors and services I would need to make the place my own. She gave me referrals for skilled inspectors, movers, painters, and upholstery cleaners. All in all, I'd have to say that my third try at buying a home--with Dana at my side--was the charm.
M. Joreaux
Dana gave solid advice
Dana´s negotiating skills are impressive and her advice was very solid. I felt I paid a very fair price and she made sure we acted quickly so that we didn´t end up in a bidding war.
L. Winnick
Dana was tireless in her strategy
It was a very fast transaction, complicated by a few unforeseen circumstances. During this process, Dana kept a level head, a positive disposition and a caring consistency. As we purchased our new home, we needed to sell our old home. With the changing real estate market, we needed to make several adjustments to position our home in the best possible light. Dana was tireless in her strategy, her promotion and the presentation of our home. In the end, we received multiple offers and sold at a price exceeding our expectations!
We love our new home and are thrilled with the sale of our old home! Dana's presence added tremendous value to our experience. She excelled in her performance as a realtor, a confident, a strategist and a friend.
It is with high regard that I would recommend Dana Ehrlich as a realtor. She is professional, positive and remarkably service oriented.
~ Cherry & Lorenzo
What a great experience
The best part of our home buying experience is the great experience we had with you! For first-time home buyers, you made everything understandable. You were dedicated, fun to work with, and...it was fast and easy!
~ JASMINE & TONY
Dana took time to listen
I want to thank you for the great job you did on helping find my condo. You took the time to listen to what I was looking for and only showed me units that met my requirements. You have a great knowledge of the West Los Angeles area and knew what areas I would be comfortable in. You made the extra effort to come to my office whenever something needed to be signed. I first met you when you were in marketing but I think you have found your calling in real estate. Thanks for all the extra effort that you put in, I would (and have) recommended you to my friends and colleagues.
- Margaret
Dana explains the market
In 2004 , I put my home on the market for sale, not having any business sense , it was a very frightening time for me. She thoroughly explained the market to me in every aspect. Whatever questions or concerns I had, her answers was always given in a comforting professional manner.
She was very comfortable telling me what needed to be repaired or moved or rearranged. I sincerely felt she was not just interested in the sale, but showed great concern for my personal feelings. Step by step she carried me through the process, from the listing to the moving of my belongings.
The things I really appreciated about Dana was her professionalism, along with her honesty and integrity. She was also very resourceful in helping with ordinary problems. I must say my experience in working with Dana was truly wonderful. Many mornings I awake and I thank God and Dana for finding me such a beautiful, serene place to call home. I knew and she knew the minute we walked in this place I was home.
Thanks for the wonderful experience!
~ Brenda
Dana's ability to listen to my requests
The first thing that impressed me about Dana was when she took the time to come visit my current apartment to see the type/ style and level of property I was interested in. No real estate agent has ever taken the time to come and see my current living conditions to better understand my future needs.
When I started out looking for a property I knew that I had very specific demands. Her ability to listen to my requests and NOT show me any thing that varied from the Brief showed me her true selfless integrity in looking out for exactly what I needed and wanted. The level of warmth, genuineness and pure sincerity made me feel that not only was she working for me as an agent but that she could become a friend I would love to have for years to come. This is rare indeed in this very fickle city.
J. Boccia
Dana was wonderful to work with
It was pure luck (or perhaps even fate) that Dana popped into my life just as I was considering buying a house. I was completely clueless as to where I should even begin however, all my confusion was put at ease when Dana sat down and explained all that was involved in the process of purchasing real estate. She also helped me to refine exactly what I was looking for in a house, to determine the best location for my needs, and to develop a realistic budget.
Dana was amazingly attentive and competent through the entire process: from selecting the perfect house and negotiating an offer, to closing escrow and delivering my keys. She made the whole experience flow seamlessly. But truly, what made Dana so wonderful to work with was more than her experience and competence-it was her personality. With the countless back-and-forth phone calls and meetings that take place in a real estate transaction, it
was so nice to feel that I was always working with a friend.
~ Kim
Dana knows customer service
Dana was referred to us by a friend and she made all of the difference in our move. Since we were living in New Jersey, we had a small window of opportunity to come to CA to look at homes. Dana was more than accommodating with our schedule. Not only does she know the market in the West Side, but she knows customer service.
She was always available to talk and I took full advantage of it. She would go out of her way to make sure the units would be available at the times we needed. She is always happy, sincere, and willing to do whatever it takes to make sure all of our needs are met.
It has been almost a year since we purchased and she still makes herself available when I have questions. Dana made this as easy as a cross country relo can be.
Please view all my written and video testimonials by clicking Santa Monica Real Estate
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