Caroline Tsou

How Much to Offer On Bank Owned Properties?

03-18-08

If a bank owned property is already selling 10% to 30% below market, how much should you offer if you find one you would like to purchase?

According to data from MLS, bank owned homes sold between 01/01/08 and 03/15/08 are sold less than 5% below the listing price.

Courtesy of MLS Data	Average List Price	Average Sold Price	Percentage Difference
Chino	$312K	$299K	-4.71%
Chino Hills	$440K	$419K	-4.29%
Diamond Bar	$343K	$328K	-4.65%
Hacienda Hts	$396K	$387K	-2.14%
Phillips Ranch	None	None	-0.00%
Rowland Hts	$498K	$482K	-2.92%
Walnut	$435K	$425K	-3.01%

Reading from the chart above, in order to successfully purchase the bank owned property from the lender, I'll suggest making an offer at around 5% below the listing price if the property is pretty much in a good shape and does not require too much repair.

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Home Resale Activity Ending February 2008

03-17-08

Caroline Tsou

According to Dataquick who tracks home sales activities in Southern California, last month's sales total was the second-lowest for any

Data for 02/08 Single Family Homes	Number Sold	Median Price	Price Change Since 02/07
Chino	17	$392K	-20.9%
Chino Hills	25	$500K	-13.0%
Diamond Bar	10	$510K	-16.9%
Hacienda Hts	14	$518K	-12.2%
Pomona (91766)	18	$375K	-5.9%
Rowland Hts	18	$500K	-26.1%
Walnut	10	$640K	0.8%

month in DataQuick's statistics, which go back to 1988. Of the homes that resold in February, about one-third, 33.5 percent, had been foreclosed on by the lenders.

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The Shoppes At Chino Hills

03-15-08

Caroline Tsou

After long anticipation, The Shoppes At Chino Hills is finally going to open in May 2008. Located at the intersection of Grand and Peyton, we are going to see Banana Republic, Victoria's Secret and Ann Taylor Loft & other retail stores in this open air 50-acre retail development.

Some of my favorite restaurants such as California Pizza Kitchen, P.F. Chang's, Yard House Bar & Grill will be there too! It is such a good thing to see all those wonderful stores coming to Chino Hills!

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Southern California Living - Beach Fun

03-13-08

Caroline Tsou

One of the great joy of living in Southern California is to go to the beach. Since the weather is so nice here, it could be done almost all year long.

I love the smell of the ocean. When I go to the beach, I just sit back and listen to the sound of the wave crashing the shore and watch the serene view of the blue sky over ocean.

It is also so much fun watching the spectacular sunset and wait for the stars to fill the whole sky.

I always get so relaxed after a beach trip. It is wonderful living in Southern California.

2 Comments

Why Are Buyers Buying In A Down Market?

03-10-08

Caroline Tsou

Unlike the conventional wisdom, buyers are still buying in today's down market. The following is a list of home sales in Chino Hills, Phillips Ranch and Diamond Bar in February 2008 using MLS data.

Home Sales by City
February 2008	No. of Homes For Sale	No. of New Listings	No. of Home Pending	No. of Homes Sold
Chino Hills	375	124	28	22
Phillips Ranch	69	17	1	5
Diamond Bar	230	77	21	13

When I ask one of my clients why is he buying in a down market, he told me that as long as he can enjoy living in his house and is not selling it, he doesn't mind all the ups and downs.

Also, due to the recent price decrease, the "Entry Level Housing Affordability Index" in California went up from 25% to 33% in a year according to California Association of Realtors. Combined with low interest rate and a large selection of houses to choose from, buyers are enjoying finding their dream homes at a more affordable price.

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Caroline Tsou
RE/MAX Realty 100

Caroline Tsou: Real Estate Agent in Diamond Bar, CA

Mobile: (626) 922-8408

Powerful resources and successful marketing in today's technology driven real estate markets. Full service Associate Broker provides expert services to buyers, sellers, renters, and landlords!

About Us:

Top 5 Reasons To Hire Caroline!
1. Proven Track Records.
2. Extensive Marketing Efforts.
3. Ethical, Honest & Goal Oriented.
4. Responsible & Hard Working.
5. Competent & Well Educated.

Before join Re/Max, I worked as a sales manager supervising over 25 employees. As a real estate broker with extensive real estate education, and over 20 years of business experience, I take pride in bringing about satisfaction and profit to all your real estate needs.

Areas of Expertise

I specialize in buying, selling and renting properties in Chino Hills, Phillips Ranch, Diamond Bar, Walnut, Rowland Hts and Hacienda Hts. I am fluent in both English and Chinese. I am also a licensed real estate broker.

Testimonials

Dear Caroline,

As you know, I do a great deal of research on the projects that I take on, and buying and selling a house is no different. When I decided to put my home in Phillips Ranch on the market in September of 2006, I did an exhaustive search of the San Gabriel Valley with respect to demographics, and also to selecting a Realtor for the job. After weeks of research I found that the right person for the job was you, Caroline Tsou, and my research again has been proven to be correct.

As you know I put my house on the market in September 2007, on a Saturday, by Wednesday you had two offers, and was in escrow on Friday, all of this within one week.

I also decided to select you to find me a new home, I gave you an idea of what I wanted, where I wanted it to be located and a general price range, within two weeks we signed a purchase agreement for a new construction condominium in Torrance. Since the project was not completed you negotiated a package with the Builder to provide housing until the new unit was completed. The builder promised multiple closing dates, and finally five months later, and a very difficult escrow, I finally moved in on March 23, 2007. You were able to negotiate over $15,000 in incentives such as loan maintenance cost, furniture storage, and housing.

Many thanks for all your hard work, and sticking with me on theses projects for over five months. In the event that I am looking for new property, you will be the first one I call.

Sincerely,
Larry Patriguin

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Dear Caroline:

Mr. Bolano and I would like to thank you for the professionalism and efficient manner in selling our house, and fining our new home for us.

We are both very please with our new home, it is the perfect house for us. You have been patient with our searching for our new home.

You have updated us with the sale of our old house and follow thru up to the closing of escrow. I will be glad to recommend you to any seller or buyer.

Thank you for selling our house more than what we have asked for, also thank you for our gifts. That was sweet of you.

Sincerely,
Mr. and Mrs. Bolano

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To Whom It May Concern:

Caroline Tsou was our realtor for the sale of our condominium in Walnut, CA. In our dealings with Caroline, we found her to be extremely knowledgeable of market conditions, responsive to our requests, and highly proficient in the marketing of our property.

Caroline had a firm handle on the inventory, pricing, and demand for real estate in our area. She was able to educate and guide us so that we could set an asking price for our condo that we feel achieved the maximum possible selling price. The price that we set and were able to sell our home for was much, much more than we had anticipated prior to selecting Caroline as our realtor.

She returned all of our calls promptly and was able to provide answers and options for solutions to all of our questions and needs. We were considering a seller rent back situation, and Caroline was able to educate us on all of our options. Our two dogs posed a hurdle in finding a place to live after we sold our house, and Caroline was able to present several options for us to consider.

Caroline marketed our property via several different tools including the internet, open houses, and advertisements in various publications. She was able to find a buyer and sell the property at the pinnacle of the price range that we set in a very short amount of time. We had several different offers, and Caroline was able to provide guidance on the qualifications of each bidder so that we could make a knowledgeable decision on what offer to select.

Due to Caroline's knowledge, professional nature, and dedication, my wife Sarah and I are both extremely pleased with our decision to select her as our realtor. We have used several realtors in the past with varying levels of satisfaction and are the most satisfied and impressed with Caroline. We would highly recommend Caroline Tsou as a realtor knowing that she will give the same level of service to all of her clients.

Best wishes,
Brian & Sarah Rivers

Caroline Tsou

How Much to Offer On Bank Owned Properties?

Home Resale Activity Ending February 2008

The Shoppes At Chino Hills

Southern California Living - Beach Fun

Why Are Buyers Buying In A Down Market?

Caroline TsouRE/MAX Realty 100

About Us:

Areas of Expertise

Testimonials

Caroline Tsou
RE/MAX Realty 100