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Tony Lewis

Short Sale vs. Bank Owned vs. Foreclosure vs. Traditional Sale how they differ!

01-29-09
Tony Lewis

This is about the best time in history to be a home buyer! Prices are down up to 50% and interest rates have plummeted below 5% for many well qualified buyers. There is a lot of money available to be invested as soon as buyer's have the confidence that prices have reached the bottom. Many of our fellow citizens are not vested in the stock market and many have liquid funds available to make a move immediately and they will. If history has taught us anything it has taught us the following. Once the perception that prices have bottom out buyers will buy. The problem is that they will all start buying at the same time and all of a sudden the bidding wars begin. Don't wait for others to act for you get out there and learn the market! Know prices and be prepared to make a move when the right home hits the market in the right location at the right price. Start taking advantage of write offs now. Following is a list of the types of home sellers to be aware of:

  • The best buys are Bank Owned homes. These are homes in which the Bank now ownes the property and "MUST SELL!" Banks can not afford to sit on these homes waiting for a better market as there are many more waiting to hit the market. They want these homes off their ledger and to reinvest their money fast!
  • Short Sale homes are very hard to deal with. These type of homes are owned by a traditional Seller that, in most instances, can not afford to make the payments. In some cases the Seller realizes that the value of their home is far below what they owe on the home. In either case the Seller wants out of the home. These Sellers are not able to sell the home for a price that will allow them to pay off their loan. They must ask their mortgage holder to accept all proceeds from the sale and also pay up to 8% in addition and allow the Seller out of their loan. The Seller wants to keep a foreclosrure off their record. The Bank will cooperate with the Seller if the Seller shows true hardship. The benefit to the Bank is they can unload the property and avoid the time it takes to go through the foreclosure process. * The problem for the Buyer is that it can take 6 weeks to 3 months to find out if the Bank will cooperate with the Short Sale or decide to foreclose. * You must deal with a Realtor that understand and can explain this process. Otherwise you can lose the most precious thing you have, Time! oh yeah, the market could pass you by and better opportunities may too.
  • Traditions Sale is perhaps the least desirable of all sales at this time. The reason being that these Sellers may not NEED to sell. In todays market MOTIVATION is the only reason homes will sell. Most Traditional Sellers will not want to compete with the Foreclosure or Short Sale pricing and will sell at a higher price than the market will bare. Even if they are able to sell at the higher price they may not get an appraisal value needed for a Buyer to get a loan. * If you are a Traditional Seller you need to be working with a Realtor that can explain the price that will sell your home at this time.
  • Foreclosrure sale is the same as Bank Owned also called REO.
  • Preforeclosure is the same as Short Sale

Tony Lewis with RE/MAX of Valencia has the experience to help you understand the market and determine whether this is the time for you to Buy a Home, Sell a Home, Sell a Home and Buy Another, invest in an Investment Property or just hold tight for the time being. I am here to help you make the best decision for you and your family's future! Call Tony on his Cell Phone 661-510-7975 visit Tony's website www.TonyLewis.com Tony will help you Buy or Sell a Home or find you the Best Realtor that works the your community or the community you want to live! I Promise!!!

Property Values have declined and so should your property tax!

01-28-09
Tony Lewis

Take another look at the added value of a licensed California Realtor, nationwide too!

I am out here in the Santa Clarita Valley which includes Valencia, Stevenson Ranch, Castaic, Newhall, Canyon Country, Saugus and the City of Santa Clarita. Many of the homes in our community have dropped 40% or more over the past 3 1/2 years.

There are companies making a living by getting home owners a lower property tax. I will help people in my community at no charge. This part of the "We Get from Giving!" motto that guides my life and career.

I will help you in this community but in your community there is a Realtor looking for long term relationships that will help you at no charge, I'm sure!

Call me at 661-5107975 which is my cell phone direct and is on and with me at all times. Please visit my website www.TonyLewis.com to learn about Valencia, Stevenson Ranch and all of the Santa Clarita Valley. You will find a page with all of the current Bank Owned/Foreclosure homes in this community, see local annual events, search the MLS on your own for your new home & take a look at Tony's favorites places in the Santa Clarita Valley!

Understanding How a Realtor Works!

01-22-09
Tony Lewis

A Realtor is licensed to list, sell, advise and share information about real estate. A Realtor is a Fiduciary which means "Held to the highest standard of trust and honesty to their client in the eyes of the Law!" A Realtor/Client relationship is as important as a Doctor, Lawyer, CPA and any other professional relationship in which your best interest needs to be promoted and protected by a person trained to do so!

This is how we, as a Realtor, work! I am a Realtor licensed by the State of California. I promote my services to find Buyers and Sellers that are looking to make a purchase or sell a property. When a call cmoes in for help I assume that the party calling wants information from me. I share information about the homes and learn about the needs of the caller. I will spend an hour or so doing research to see if there is an answer to their need and if I will be able to assist them.

The most important thing that I am able to do at first contact is to probe and ask questions to learn as much about the callers needs as possible. I will do my research through the MLS, Title Company, Home Owners Associations, Fellow Realtor, Escrow Officers, Builders, Home Inspectors and the City as well as many other resources to get as much help to my potential client. I do this because one of my beliefs is that "We Get from Giving!" I realize that we have only one chance to show how much knowledge an dedication we have and only one shot to earn this person trust enough to be my client.

Keep this in mind, when you are working with a true professional Realtor the effort that you see is like the tip of the ice berg! We don't want you to be burdened with knowing how much effort, time and energey has been given. We want the process to see seamless and smooth. Your Doctor or Lawyer doesn't burden you with the knowledge of 12 or more years of schooling and years of training befor handling your case. Your Realtor feels the same, however, the public perception leans towards the idea that anyone can do this and the Realtor hasn't worked that hard.

When you call a Realtor and ask for their help you will be given hours of time, years of experience and a wealth of knowledge. In return you will not be asked to pay for any of this unless there is a successful close of escrow. When you ask a Realtor for help you should at the very least be doing by giving the Realtor the opportunity to earn your business. If you will never use this Realtor let them know up front that you want help but won't be using their services. You shouldn't let them spend endless hours with you and then let them know they never had a chance to work with you!

I just spent hours doing research, e-mailing information, arranging and scheduling an appointment, calling all of my resources and meeting to show a potential client a home. This potential wanted to see a property and showed up 45 minutes late. This person was out of the area so I explained the differences between Canyon Country, Saugus and other parts of the Santa Clarita Valley in regards to potential investment, mello roos, foreclosure and Short Sales. I then took them to a home that fit their price range, and commute much better. The home was in a community they didn't know existed. I called Realtors and Title Companies and used my personal relationship to get information to put this potential client in the best position to buy the home at the best price.

I gave this person all of the information but they were going to Church and would let me know the next day whether they wanted to make an offer and if so at what price. I called again the next day. They wouldn't commit but left a message. The message was "Tony thank you for your help. I just want you to know that I am a newly licensed Broker and would much rather make an offer and keep the commission to help my family!"

My response was Chuch going? Licensed Broker? Did you not learn about our "Code of Ethics?"

I am Tony Lewis with RE/MAX of Valencia located in Valencia, California working in the city of Santa Clarita and serving the Santa Clarita Valley. You can reach me on my cell phone direct at 661-510-7975 visit my wesite to see all local Bank Owned/Foreclosure homes and sign up to have new listing e-mailed to you daily my e-mail address is tonyglewis@yahoo.com Don't be mistaken my goal is to earn you business!

Number One Mistake Santa Clarita Valley Buyers will make this year!

01-15-09
Tony Lewis

It is January 15, 2009 less than a week before the new administration is sworn in. All Americans are looking for a brighter tomorrow. Not since Reagan and Kennedy before him has this nation been amped up with the kind of hope that President Obama is generating!

This is the reason that buying a home early in 2009 is crucial for those able to qualify. The biggest mistake that buyers in Valencia, Stevenson Ranch, Castaic, Saugus, Newhall, Canyon Country and all communities in the Santa Clarita Valley will make this year is waiting. Waiting for prices to drop or interest rates to drop has prolonged our real estate recovery. What ultimately will happen is when buyers decide to buy unfortunately for some reason everyone jumps in at the same time. Bidding wars begin and once again no one wins. Get out today and find a Realtor that knows your market and has your best interest at heart. I will help you find your new home in the Santa Clarita Valley visit www.TonyLewis.comto learn more about Tony Lewis with RE/MAX of Valencia and learn about the his community just 32 miles north of downtown Los Angeles. You can also call him at 661-510-7975 cell direct or e-mail tonyglewis@yahoo.com

First time buyers will lead the way to the real estate market recovery.

01-12-09
Tony Lewis

First time buyers were an after thought just three short years ago. This group of buyers as late as October of 2005 were not pursued at that time since they were not in a position to afford a home without the help of their family. In January of 2008 this group of buyers are the among those that can appreciate the drop in prices and the chance to buy a home. They have jobs, income, credit and the ability to buy. They also have been untouched by the great loss of equity that previous home owned are stinging from. There is now a page on www.TonyLewis.com dedicate to first time buyers with many links to sites that will help prepare a new buyer to take advantage of the current low priced entry level homes. This site also has information for all buyers, police, doctors, military and FHA loan information. Call or write Tony Lewis with RE/MAX of Valencia to find your new home and to take full advantage of the current Buyer's Market! Cell - 661-510-7975 or tonyglewis@yahoo.com learn more about Tony Lewis and Valencia, Stevenson Ranch and the Santa Clarita Valley at www.TonyLewis.comThis safe city with great school, a mall and host Six Flag Magic Mountain and is just 32 miles north of downtown Los Angeles.