A former client wants me to sell their home in San Diego. They owe the bank about $100K more than the mortgage, thus a short-sale. I am involved in another niche, and have not been doing many short sales, but from my experience with the ones I have been involved with (Buyer side), I don't want anything to do with it. They asked for my advice and I really came up blank. How do I counsel these clients to do the right thing? Wouldn't it be best for them to do a "Deed in Lieu"? Of course I would like to make a commission out of this, but my first goal is to help my clients out of this mess.
Some banks may even refuse to do a short sale, mortgage money is tight or not available and the new Administration may have some legislation to help ailing homeowners in the not too distant future (**fingers crossed**).
Where do I start? They are looking to me for all the answers, since I have solved many issues for them in the past.
I have made international travel a part of my life since I was 19. It started with "Spring Break" (not the ~girls gone wild~ kind but still loads of fun) in Bermuda. As the plane left the airport on our return to Boston, I looked out the window and saw the turquoise waters, in differing hues fade slowly from sight as we ascended into the clouds. My thoughts were: travel is going to be a huge part of my life forever.
A 6 month backpacking trip to Europe, Greece and Israel in my early 20's followed, with trips over the years back to Europe, the Caribbean, the Middle East and North Africa. I just returned from 2 weeks in China.
What does it say about the Swiss, whose streets you could eat lunch off of, or the Chinese who think traffic signals are merely "suggestions" but where it is illegal to own guns and there is virtually no violent crime? Or the Italian culture where mom, dad, kids and grandparents are together on week-ends much more than in our culture? Or a poor Berber in Morocco who would welcome a stranger into his home with open arms and offer mint tea when they had little else?
I loved every place I have been, because I took my cultural "eyes" and left them at home. I "saw" people through different lenses.
I will make a confession: I don't like sightseeing. You may be shocked to hear this. "Than why in the heck do you travel"? you may be thinking.
I travel because it makes me a happier, more grounded individual. I return from a trip with an appreciation of what freedom means, especially to a single woman. I travel to witness a culture completely different than mine with language and food I may know nothing about. I observe the differences in shops, café's and traffic and get insight into the psyche of a culture. I am more empathetic, content and open-minded. I can be friends (or feel comfortable with clients) who have diverse backgrounds and who think differently. I appreciate my country in a more profound way and don't "knit-pick" our political process and legal system.
So next time you are thinking of going to a Therapist, save the money for a trip to a foreign country. You might just get a whole lot more out of it.
San Diego has loads of "used" book stores, most of which are vast treasures of everything you could think of. In this current economy and political turmoil, life in America has really gotten a "hit". It is quite interesting to read books like "1984" and "Animal Farm" by Orwell, "Lord of the Flies" by Golding and"Player Piano" by Vonnegut. Quite prophetic and adaptable to our life in the 21st Century.
Does anyone have any other suggestions?
I am going to travel in China this month, and I have a contact who will be setting up factories in Hangzhou. I am thinking of creating a "Corporate Relocation" Network to the rental side of my R.E. business, and utilizing Active Rain agents (in California) for prospective Chinese clients to rent (and maybe buy.)
I have never done this, and really don't know if there even is an opportunity, or if this contact can connect me to other people. Any ideas about international R.E. networks would be appreciated as I could be creating a referral machine.
Does anyone think that Palin's "Right to Life" stance is a contradiction to her hunting a moose, gutting it and eating the meat? The philosophy of an "embryo being a human being" seems at odds to hunting for sport, not survival. Am I suggesting "Right to Lifers" not eat? No that is not what I am saying. I just can't understand a person believing in both of these: seems rather two-faced to have both of these viewpoints.
Who should determine the species that has the "Right to Life". Humans, because we CAN?
Real Estate Problem Solver and Tenant Specialist. Selling your tenant occupied home/condo can be problematic. I can simplify the sale and avoid pitfalls.
I grew up on the East coast, Boston, MA. and NYC. I graduated from Northeastern U, in Boston. I have degrees in both Modern Language and Cell Biology. A self-proclaimed "wanderer", I have spent much time traveling the globe, backpacking through Europe, North Africa and Greece. I even spent 3 months working on a Kibbutz in Israel, picking grapefruit and cotton, driving a tractor and washing and ironing shirts for the Israeli army. This had a profound effect on my life and led to my "wanderlust"......which led to my employment in the Travel Industry: Client Services and Corporate Sales, until the 90's when the Travel Industry went belly-up. I had obtained my Real Estate license and bought and sold property for a hobby....which led to my employment as a R.E. Agent in Boston. My specialty was urban condos. After my daughter went to college I left Boston for a stint in Cornish, N.H. where I lived in a log cabin on 10 acres. If you know where this place is, "honk your horn". I sold advertising & created commercials at a local radio station (WMXR-Golden Oldies) in Woodstock VT. I then moved to Albuquerque N.M. where I worked as Client Services Manager for American Express Travel. I was slowly working my out to the west coast and California beckoned me so I moved to San Diego where I have been for 11 years. Whew.
It has been a journey and when you really analyze it, a true career path which has fully equipped me to be a professional in my field. At the time it seemed rather disjuncted, but in retrospect I see that my experience in Sales, Advertising, Client Services and Travel has made me a better person and a better business woman, a true "problem-solver".
In my spare time I still love to travel, preferring "off the beaten path" international travel in local inns to "canned package tours". I enjoy food markets & wandering the back alleys, because it is here that you feel the real "pulse" of a culture and find the best meals & local crafts. I enjoy vegetarian cooking. I have a horse named Jasmine (who gets all the leftover vegetables) and ride twice/week. Another passion of mine is photography and I have posted some photos of my wanderings on this blog.
Life has taught me that : "Balance" is worth striving for. Make time for work, friends/family, health and personal life.You make your own good luck. And happiness is not a goal but a "by-product" of being true to yourself, creating a "purposeful" life and doing what you love.
Areas of Expertise:
Listing
1031 Tax-Deferred Exchanges
Income property and Land Development
Rentals and Property Management
Creative Financing and Owner "Carry-Back"
First Time Buyers
Empty-Nesters
Staging and Color Selection
Problem Solving
Tenant Occupied Properties
I have had the privilege of knowing and working with Deborah Stone for the past 5 years. During this time Ms. Stone has worked with me in the capacity of investment property and management and I have had the opportunity to witness her high level of professionalism, experience and expertise in these areas. Ms. Stone is a thorough, detail oriented professional who brings these skills not only to her career as a realtor, but also to her work in property management. She is an expert in tenant/landlord relations and has shown incredible knowledge and forethought in every aspect of the rental property experience. She has the ability to be very discerning in screening tenants and ascertaining the quality of future tenant compliance and retention. On a personal note I have found Ms. Stone to have a very high level of integrity in all of our business interactions. I highly recommend her" Carol Rider,L.Ac., M.T.O.M. San Diego, CA
"I was so satisfied and impressed with Deborah's professionalism and commitment to task that I asked her to represent me on additional investment transactions" Lynette Rhodes, Oceanside, CA
"Two years ago, thanks to your valuable Realtor-business experience we bought our first home. We have resided in the up and coming area of Golden Hills ever since.This year my spouse and I decided to invest in a 2nd property in the same neighborhood. Once again, we saw for you expertise and advice. Octavio and I are now proud owners of our latest income property acquisition thanks to your personal involvement in the matters and the years of business experience you bring to the table. Your assertivenes in the field and commitment to your clients have proven once more to be an invaluable asset and a benefit towards the success in acquiring the duplex complex. Thank you for the counseling and expertise and may the reward be more valuable prospects." Claudia and Ocatvio Salazar, San Diego, CA
"Deborah Stone was hired by United Brokers Network in April 2003. In my dealings with Deborah, I have found her to be hard working and honest. Because of her experience in income properties/1031 Exchanges, and her high integrity, Deborah would be an asset to any Real Estate company" Fred Gregory, Owner UBN Realty and Charter Mortgage San Diego, CA
"This letter is in reference to Deborah Stone. When I first met Ms. Stone I knew absolutely nothing about the Real Estate market. In fact, I was highly resistant to buying Real Estate, or using it as an investment opportunity. After several conversations I finally overcame my resistance and purchased my first income property in June 2001. Since then my investment has appreciated almost $100,000.As a result of this appreciation, I decided to focus on investing in the San Diego Real Estate market as a secondary business. Deborah helped me to sell my primary residence and then purchase 5 more income properties over the last couple of years. As a result of her skill and experience, my net worth has increased tremendously. I am very grateful to Deborah for her mentorship and assistance in helping me start my investing business, and I would definitely consider her to be a valuable asset to any Real Estate company." Claire Young, President Young Properties, San Diego, CA
I'd like to take this opportunity to express my strong recommendation of Ms. Deborah Stone as a Real Estate Sales Agent. During my relationship with Deborah she proved herself to be a consummate professional in every way.
Our situation was that we desired to sell a property in Coronado, CA. This might sound routine in nature, but we reside in Pennsylvania. After our initial contact with Deborah, she assessed our situation, wants and desires, then proceeded to develop a "Sales Attack Plan" that not only considered the selling price of comparable properties but those that had the growth potential for prospective Buyers seeking the type of property we were selling.
Since the inception of our agreement, Deborah continually put forth a maximum effort on our behalf and demonstrated exceptional communication skills. She kept us constantly informed of the status of our property. Our distance apart was transparent to our interaction. She utilized all of the facets available (e-mail, Fax, telephone and overnight mail) to keep us informed and to process the documents necessary for the smooth and successful sale of our property. She was ALWAYS(24/7) available and responsive to our questions.
I should like to conclude by stating that as a long distance customer, I certainly appreciated Deborah's communication skills and follow-up services. She produced commendable results for us. Fred R. Wahler, Bensalem, PA.
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