The very significant price declines in condos have started to pull the buyers in. Of course they have to be qualified and have some money (not all that common), but the phone is ringing about the lower priced condos. Some of the interest is from first time buyers, but much of the interest is from potential landlords (they are seeing positive cash flow for the first time in years). With 25% down many of the units are providing positive cash each month. Investors are excited, and not sure how long this will last.
What a surprise - AR staff is really on the ball (not that I ever thought differently). I sent in a request about AR "as it is today" versus "as it was" a few weeks ago, and to my surprise I had uncovered a error in their program. Admitting that they did have an error was more than I had expected (I thought the problem was me) -- but they also awarded me 1,000 points. Wow - how nice and how unexpected. Unexpected rewards really cement my very positive opinion of the AR staff - GOOD JOB GANG.
We have been ignoring all of the "buzz" around the office about what the bank will and will not pay. And it works. You never get anything that you fail to ask for. We have been asking for termite work and for home warranties, and the requests have been going through. Maybe it is just oversights or maybe the banks are changing, but we are getting these requests to go through. I guess the lesson is that we have to try things on our own, don't fall prey to office rumors from the "experts" -- things do change.
It seems every time I meet new customers (buyers) the quality of schools comes up. Now I understand the concern and desire to be in a good school system. But really -- does every grade school child "need" to go to a "blue ribbon" grade school? Have we as a society really overdone the school rankings criteria? How important is it that the grade schools kids have hours and hours of extra work? Don't the kids need the socialism of "play" with the neighborhood kids. I know this is a very personal subject, near and dear to the harts of many (really most) of the parents with school age children. I am also that there are a variety of opinion out there. Possibly we could use this post as a kickoff to some current opinions and outlooks on this matter. What do you see as agents? How do you see it as parents? What about your own personal life experience? Love to see some dialog - all opinions matter.
In this market we are getting loads of calls from supposed buyers who are self-proclaimed investors. We hate to generalize, bit quite a few of them will be real time wasters. If they are real potential investors, then they should be willing to come to your office to discuss the strategies and goals. That is our first suggestion to the callers. Many different options can be explored in a face to face meeting (not at a property) in the real estate office, where online data is available for initial property screening. If the buyer just wants to go see the property -- then, that is probably correct -- they just want to see properties. We prefer to do preliminary educating and screening at the office where more informative exchanges can occur. It is really hard to get true understandings while distracted by viewing bedrooms, baths, property lines, and fixer issues. Viewing can and should come later.
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Los Angeles and Orange County Real Estate Agent | Specializing in North Orange County Real Estate, Anaheim Real Estate, Fullerton Real Estate, Brea Real Estate for buyers, sellers and investors
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