Satar Naghshineh

Here To Help You With Your Needs

The role of a real estate agent is not just to guide you through the buying or selling process, but to look at what your personal goals are and to see how to accomplish them with sound advice and strategy. I realize that people do business with people they trust. I am interested in what is best for you, the client, and am committed to establishing a long-term relationship based on trust. I pride myself on being knowledgeable and staying current with changes in the industry that will affect the success of your transaction. My level of expertise covers every aspect of real estate, from common real estate transactions to complex foreclosure situations and solutions. Unlike other real estate agents and companies, we look at the entire situation and give you multiple options to resolve them. Below is what we can offer:

* Buying and Selling Retail Homes We can help you purchase the home of your dreams and help pay for moving expenses so you have one less thing to worry about! If you are considering selling, we can be flexible on pricing and assistance based on your level of experience and your contribution to the selling of the home. Our services start at $495! We also can do 1031 Exchanges and Probate Transactions!

* Facing Foreclosure? Whether your goal is to keep your house or move on, I can sit down with you and go over your particular situation. From loan modifications to short sales, we'll discuss what's best for you. Do not be fooled by "investors" who say that they can help, but are looking out for their best interest. I will teach you what they know so you can turn the situation around to benefit you and not the "investor". I can say with confidence that I'll get the job done right and I am not afraid to teach you what I know so you can have a clear understanding and approach to regain control over your life and situation.

* Have Questions Regarding Loans? Whether it is a refinance or a purchase money loan, my team can sit down with you to see what loan programs you qualify for and how much house you can afford. I only work with the best to get loans closed with no suprises down the road. When buying or refinancing, work with people who have total control over your loan and you can trust to get the job done! Just click on "Loan Help" on the left hand side!

* Investment Property and Property Management As an owner of a few investment properties, I know what to look for when purchasing rental property to maximize rental income and minimize risks. I am also very knowledgable of California Landlord and Tenant laws to help advise you how to approach common rental situations to minimize loss and liability. We'll help fill your vacancies and provide a buffer between you and your tenants.

I have a regular retail listing (I know, you thought they didn't exists!). I have it listed at 495k. The buyers saw this place twice and just loved it. However, the problem we had was that the buyer's out of area loan broker stated that the property is worth only 460k (he doesn't have access to the MLS and just ran a simple query in his system). The sellers were not willing to go down that low. So I had a serious conversation with the sellers. Based on my knowledge, I thought the property was worth 480k to 485k and asked the sellers if I was able to get that number, will they accept. They answered "yes". The buyer's agent was not sure how much it was worth because there were no comps for this that he could use. He just wanted to see what could be done to make his first time home buyers feel comfortable with moving forward with 485k.

The Simple Solution: Appraisal Contingency

To ensure trust with the buyers, I told them that escrow would not use any portion of their deposit until the results of the appraisal came back and both parties were satisfied with the results. If the appraisal came back lower than 485k, we can then re-negotiate with the sellers as we now had an appraisal to assist in the decision making. If the appraisal came back at or above the 485k offer, then we can move forward with this transaction.

Long story short, the appraisal came back at 485k and we are moving forward. I almost lost this sale, but quick thinking made the deal possible and lessened the worries of the first time home buyers. Maybe this blog will help you down the road as well.

A recent featured blog entitled "Can I Do a Short Sale Without A Real Estate Agent?" talks about an encounter a real estate agent had with a potential client in which the client was told by a friend that she will be responsible for real estate commissions. The author of the blog stated that this is not true. The author is wrong, and here's why:

The listing agreement is between principal and broker. If I have a x% listing agreement and the lender only pays a total of y%, I can get the difference from the seller.

Now you might ask yourself, "What type of monster will take money from a seller facing foreclosure?"

I have done this twice. It was because there was no financial hardship and the seller just wanted to offload some investment property that he was able to afford, but lost 50% of their value.

It is important to know that a seller is responsible for commissions because you can now be in a position to negotiate with the buyer to make up the difference! Each state has it's own laws pertaining to real estate commissions, but if you want me to expand on this on how I do it in California, I will do so.

Finally, the blog makes another misconception that the property needs to be listed before an owner can do a short sale. Again, this information is FALSE.

You can do a short sale without a listing agreement. If the foreclosing bank won't order the BPO (aka appraisal) unless it is listed, you can get around this by having the buyer pay for an appraisal and send it in. Also, if there is a BPO in their system because of an attempted loan modification, then a listing agreement is not needed if the net of the purchase offer meets the servicing and/or investor guidelines.

I do agree with the author that a seller should contact a knowledgable short sale agent and negotiate the commissions in such a manner in which the seller will not be responsible for any limitations imposed by the foreclosing lender.

If you are a seller and are worried about real estate commissions in a possible short sale situation, feel free to contact me and I will see how I can help.

If you are an Activerain member and think this topic should be discussed, please suggest this blog for a feature.

If you have a Bank of America short sale, it is important that you call short sale support at 866-880-1232 even if you are working within Equator to make sure there is no sale date. A lot of agents are under the impression that if they have an active short sale within Equator, the property cannot go into foreclosure.

So when you call short sale support, the support representative has three sources to check on the foreclosure status:

1. Equator

2. Their Main system called "Homebase"

3. The foreclosure application called "LODI"

It is important that the support representative looks into LODI for the most accurate information on foreclosure dates and information (all communication regarding extending sale dates are in this system as well). I run into a lot of support representatives that only look into their main system for the answers.

Hopefully this information helps you get to the bottom of any foreclosure dates.

Shameless Plug:

If you are looking for a free short sale negotiation service in California, please feel free to contact me. We never touch real estate commissions and we'll go the distance to make sure your deal gets approved.

When you are a short sale agent, you do more than just list homes. Your goal is to understand every option available to the homeowner. You will also need to know the possible legal and tax ramifications so you can give your client the information (not legal or tax advice) that they can then verify on their own. Finally, your goal is to look at the big picture and provide a solution. For example, understanding that the only option for your client is a short sale and then you help them with a rental.

Along those lines, I have been looking into credit repair as an added service to my clients. Imagine doing a short sale and then having the short sale removed within 90 days after it is on the credit report. Well, two years ago I was reading the Fair Credit Reporting Act and came across a couple of companies that claim that they can remove negative items from a credit report by enforcing section 609 of the Fair Credit Reporting Act. Section 609 requires credit bureaus to keep a paper trail of items reported on the credit report. However, this is not done. Remember, they are not disputing the validity of the item being reported, like other companies are doing.

Today, one company sticks out. This company, FICOBOOST (www.ficoboost.net), is now an affliate to our local MLS board. They claim that they can remove up to 22 items a year, including short sales, foreclosures and bankruptcies.

I would like to get some first hand knowledge on anyone who used this company. If anyone used this company or if any of your clients will use this company, please update this blog to spread the word.