Scott Barr Realtor scottbarr.kwrealty.comNewportBeach

Book Review: Title; "The Thank You Economy"

If you are a Realtor and are over 40 yrs old, then you must read this book by Gary Vaynerchuk. He sums it up for us folks who still don't get it when it comes to " Social Media". As usual I thought I knew everything about this area. Well now that I have read Gary's latest renderings, I do, at least for now. I'm going to make another shift in my actions, thinking, conversation......Rather than tell what the book is about, I'm going to share with you how I'm going to join in. First of all, I'm going to engage in conversations with others on Twitter on any subject matter concerning real estate that I have a passion about. How am I going to do this you might ask. Its simple. I'll search on Twitter real estate and when I see something that, as a friend always says, "I can add value to", then I will. I'm going to help others without trying to sell something. This will be more challenging then one might think. Another area that I'm going to pursue differently than if I hadn't read the book, is video blogging. I'm going to give what potential buyers and sellers want. And what I think they want is clear, concise information on market conditions in their area. Again, without any fan fare about what an amazing R-e-a-l-t-o-r I'am. There are many other activities and ideas brought out in the book that I'll let you find out for yourselves. In conclusion, go to the library or order it on Amazon and join me in yet another shift.

I want to make it official.....I Scott Barr declare that Riverside county in California has reached the

bottom of the market for housing. At least that's what I told some friends at a dinner party back in April.

At first I made a blanket statement that we will look back a year from now and see that April was the

bottom of the real estate market in our area. Then it occurred to me that I was standing in the kitchen of

a home located in San Diego county.Ooops...wrong county. (I think San Diego and Orange county have a

little more deflating to take place.)I quickly clarified myself and stated that I

meant the county that I primarily work in Riverside. The color returned to my friends faces and I averted

a public stoning for prophesying incorrectly.

I came to this conclusion after being beat out by other offers that were a little higher than my clients.

Keep in mind that we are sometimes bidding $20,000 or more per offering. It's happened with five

different sets of buyers. The same thing seems to be occurring with other agents.

This type of thing is prevalent in the Menifee,Murrieta, Temecula and even San Jancinto, Hemet area's.

I make this "prediction" realizing that if I'm wrong, cyber space will forever have record of my insight.

Only the Garden of Eden could be more beautiful than the mountains of Idyllwild California. Gold can still be found in them thar hills maybe not the kind that you spend, but certainly the kinds that make you feel rich. The sights are magnificent this time of year.

Even the bears can't resist taking in all the beauty Idyllwild has to offer.

The people that live here get to take in this beauty every day. Wouldn't it be nice to call this home?

Many artists do call this home. This artists' web-site is easy to find.

At 6000 ft you'll feel like you are on top of the world.

If you or someone you know has a desire to view propertys in Idyllwild please feel free to call 909-261-2497 or visit www.soldbybarr.com.

Anatomy of a sale (in today's market)

What is a sane approach to the buying process in Southern California?

First, let's look at what is happening in our real estate market. We have primarily two types of sales taking place bank owned and short sales. Bank ownedor other wise known as REO property is just that the bank now owns the house. These are the new normal transactions in Riverside county California.

As a buyers agent I'm always relived when my client wants to view a bank owned home. Typically these negotiations are handled like they were back in 05'. What is interesting is the fact that there is usually an offer already on the table which is very good for the seller (bank). How do we do we handle the competition? We put forth our best offer and we move on and don't look back if we get beat out. After all, there are more properties than there are buyers. I remember the shift in our market that took place in the middle part of 07'. We started to see multiple offers again. This was the new sellers market.

Now for the big butt but, but what about short sales, don't they take a lot of time? Yes they do. Short sales typically take longer than REOs (bank owned) properties. Sooo here is how we handle them:

•1. I tell me my clients what to expect on the front end so they are not as disheartened if they should not succeed in acquiring the property.

•2. My approach is to find at least three properties that my clients positively love. (this is possible here in Southern California)

•3. I inquire via the listing agent as to the status of the short sale. I ask questions such as: how long has the property been in default, how many mortgages are on the property, are the current owners occupying the property?

Keep in mind that just because there is a short sale going on doesn't mean that the home owner has lost any rights. The only thing that they are not in control of is what price the holder of the note will settle for.