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Archive for August, 2012

Residential real estate: REO bulk sales

What’s the impacts about the real estate REO bulk sales?

http://www.pe.com/business/business-headlines/20120822-real-estate-fhfa-steering-toward-reo-bulk-sales.ece

Let me know your opinions.

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SOLD residential property listings: understand the market before buying

It is important to understand the changing market before buying. Sold properties are good data for your reference and comparison.  Please see the SOLD listings for your reference:

http://www.mrmlsmatrix.com/DE.asp?k=1000950XTGc7&p=DE-114391190-644

What choices are available?

http://www.mrmlsmatrix.com/DE.asp?k=1000950XTGc7&p=DE-114389456-349

Please email me @ jeff.kwong@hotmail.com if you would like more information on  specific properties.

3rd city: Arcadia

What are unique in Arcadia, California?

Santa Anita Park (racetrack): http://www.santaanita.com/

Arcadia school district: http://site.ausd.net/

Westfield Santa Anita Mall: http://www.westfield.com/santaanita/

Los Angeles County Arboretum & Botanic Garden: http://www.arboretum.org/

Arcadia can be one of the good choices for buyers of residential properties if they would like their children going to good schools. There are choices of newer house with large living space. Please click the link for some listings:

http://www.mrmlsmatrix.com/DE.asp?k=1000950XTGc7&p=DE-114291031-951

Please email me @ jeff.kwong@hotmail.com if you would like to get more listings and information.

 

10 Suggestions for You as a Real Estate Buyer

Before the purchase:

  1. Be specific and know what you prefer and can be really affordable.
  2. Research the immediate market and get ideas about SOLD comps that are similar to the type of house you like.
  3. Obtain a credit report for reference. It is important to have good credit history in order to get a loan. Request to correct errors on credit report before going to bank for pre-approval. https://www.annualcreditreport.com/cra/index.jsp
  4. Get a pre-approval letter from lender and bank statements ready.

To start housing tour and negotiation of agreements:

  1. Ask questions when the list price is so low. This can be a marketing strategy for some listing agents, and there may be disclosure issues causing the low list price.
  2. Ask Realtor(s) how transparent they can be for you. You have the rights to know about the detailed of negotiations.
  3. Reasonable expectation in terms of purchase price and terms. If you are told you can purchase this house at 25-30% below the market price by working with the agent, do you think this is a realist situation or just a marketing strategy to get you as his/her client?
  4. Read the purchase agreement and documents carefully before signing. Do not purely rely on your agent’s illustration and explanation. The executed contract is the one governing the relationship between Buyer and Seller.
  5. Evaluate your own positions, interests, issues, and best alternative to negotiated agreement “BATNA”.
  6. Evaluate potential risks when and if you perform and/or not perform the executed contracts.

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