Patrick Canavan - Orange County Real Estate Voice

I will be adding more data all the way through to December 2008 and also be keeping you updated on the complete Data for 2009. Please drop by regularly for new Data

Inventory In Months' Supply Mar 10 2008

Comparing Anaheim to Nearby Communities

All Residential Properties

Inventory In Months’ Supply–Mar 10, 2008

All Residential Properties Anaheim

Active -To -Pending Ratio – Mar 10, 2008

Comparing Anaheim to Nearby Communities

All Residential Properties

Pricing Reality For Sellers – Mar 10, 2008

List Price Per Square Foot by MLS Status

All Residential Properties in Anaheim

Sale Price Per Square Foot

Comparing Anaheim to Nearby Communities

Sales Closing 12 Months Ending March 6, 2008

All Residential Properties in Anaheim

Monthly Listings Taken and Absorbed

All Residential Properties in Anaheim

12 Months Through February, 2008

Listings Sold by Calendar Quarter

All Residential Properties in Anaheim

9 Quarters Through December 31, 2007

Please do not hesitate to contact me if you have any questions.

Patrick Canavan

714.943.0444

I will be adding more data all the way through to December 2008 and also be keeping you updated on the complete Data for 2009. Please drop by regularly for new Data

Inventory In Months' Supply Feb 13 2008

Comparing Anaheim to Nearby Communities

All Residential Properties

Inventory In Months’ Supply–Feb 13, 2008

All Residential Properties Anaheim

Active -To -Pending Ratio – Feb 13, 2008

Comparing Anaheim to Nearby Communities

All Residential Properties

Pricing Reality For Sellers – Feb 13, 2008

List Price Per Square Foot by MLS Status

All Residential Properties in Anaheim

Sale Price Per Square Foot

Comparing Anaheim to Nearby Communities

Sales Closing 12 Months Ending February 6, 2008

All Residential Properties in Anaheim

Monthly Listings Taken and Absorbed

All Residential Properties in Anaheim

12 Months Through January, 2008

Listings Sold by Calendar Quarter

All Residential Properties in Anaheim

9 Quarters Through December 31, 2007

Please do not hesitate to contact me if you have any questions.

Patrick Canavan

714.943.0444

I will be adding more data all the way through to December 2008 and also be keeping you updated on the complete Data for 2009. Please drop by regularly for new Data

Inventory In Months' Supply Jan 6 2008

Comparing Anaheim to Nearby Communities

All Residential Properties

Inventory In Months’ Supply–Jan 6, 2008

All Residential Properties Anaheim

Active -To - Pending Ratio – Jan 6, 2008

Comparing Anaheim to Nearby Communities

All Residential Properties

Pricing Reality For Sellers – Jan 6, 2008

List Price Per Square Foot by MLS Status

All Residential Properties in Anaheim

Sale Price Per Square Foot

Comparing Anaheim to Nearby Communities

Sales Closing 12 Months Ending January 4, 2008

All Residential Properties in Anaheim

Monthly Listings Taken and Absorbed

All Residential Properties in Anaheim

12 Months Through December, 2007

Listings Sold by Calendar Quarter

All Residential Properties in Anaheim

9 Quarters Through December 31, 2007

Please do not hesitate to contact me if you have any questions.

Patrick Canavan

714.943.0444

Bailout Banks paid $1.6 Billion in compensation to 600 top executives - in salaries, Bonuses etc.. in 2007

Lloyd Blankfein CEO - Goldman Sacs

2008 Compensation
$54 Million
Goldman Sacs Govt.
Bailout: $10 Billion

John Thain CEO - Merrill Lynch

2008 Compensation
$83 Million
Merrill Lynch Govt.

Bailout: $10 Billion

This information is from their SECC filings - disclosing all their perks, golf memberships etc..

Apparently John Thain only worked for 1/2 a year with a signing bonus of $15 million who gave up his bonuses for huge stock options. Goldman Sacs says they will give up their bonuses but how much of this will be a token because most of what they have been saying is that they need some of this money to retain Talent & that they cannot bring in the Executives they need if they cannot offer them high salaries. Aren't these the guys that created the mess we are in ?????????

SIX FINANCIAL COMPANIES THAT GOT $270 BILLION STILL OWN CORPORATE JETS.

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I had a very interesting conversation with a potential buyer yesterday who thought I was the listing agent on the property he was calling on. When he asked if I was my response of was no. He wanted to place an offer on a property for $200,000 less than the asking price. The home was a killer deal to begin with since it was lower than everything in its neighborhood and in a fantastic location. I asked why he wanted to speak with the listing agent. Knowing what his intentions were - solely to get a better deal.

I'm just going to jump right into it here. Let me ask the buyers out there some questions:

1. What if the Seller(s) instruct me (the agent) to negotiate the highest price possible for their property and you the Buyer also instruct me (the agent) to negotiate the lowest price possible for the property? Would you agree we have a problem right of the bat?

2. What sort of Deal are you thinking of getting?

The person I spoke with yesterday said he would probably get first preference, the offer would be on top of the pile and he would get a better price for the property. Okay, picture this. I am representing you (The Buyer(s)) on my Listing. We put in an offer of $300,000. Another offer comes in for $350,000. Later that night, two more offers come in one for $365,000 and the other for $375,500. Now you want me to give you first preference - to be on top of the pile - to get you a better price on the property. How is this possible? If it did materialize I would obviously be breaking every rule in the book. A Real Estate broker who is representing both Buyer and Seller should work with extreme care. We owe a responsibility to you both. Like I mentioned the Agent will have a conflict with negotiation of Price and Terms between seller and buyer also could have conflict with the negotiation of Loan Amount and terms with Lender and Borrower. Why would you even want to get into a situation when there is absolutely no need for it. As a Dual Agent I cannot disclose to the seller that the buyer is willing pay more than the buyer's written offer to purchase. As a Dual Agent I cannot disclose to the buyer that the seller will take less than what the buyer is offering without the express written consent of the party authorizing the disclosure.

3. Do you want my commission?

So you want $3500 - $4500 of my commission. Why. Why do that? If you have your own representation, a Realtor that will look out for you and only has your interests in mind not yours and the sellers, could easily get you closing costs and much much more. I have gotten closing costs for my clients of $10,000 - $16,000. Which is more important my $4500 of my commission or $10,000 - $16,000 or more in closing costs. Why shot yourself in the foot when you can get more from a Buyer's agent (me) than an agent double ending a listing.

Anyone heard of the word "FIDUCIARY" I did, but did not realize its crutial importance until I became a Realtor. It has become the most important word in my CAREER. FIDUCIARY = Care, Obedience, Accounting, Loyalty, Disclosure. It is of the upmost importance that buyers should UNDERSTAND the limitations of the dual agency situation.

Dual Agency is not easy it is quite difficult. It can be a rocky road to travel and with the most liability to the agent. Dual Agency can work with competent agents but with complete Disclosure and Consent in writing given by buyers and sellers. It is so important that you get representation in todays market. There are alot of short-sales and foreclosures out there and this is the time to have it. PLEASE PLEASE get yourself 100% representation not 50%. There is no point in getting yourself into a situation that could cost you. Its a buyers paradise out there use it to your advantage.

Patrick Canavan

Realtor / EcoBroker