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Court Confirmation received on Loma Vista St, El Segundo The American Dream is still alive-SALE PENDING!
Court Confirmation received on Loma Vista Street in El Segundo – SALE PENDING! The American Dream is still alive! The purpose of this post is to highlight a few points: the intricacies of a probate sale with court confirmation; some of the challenges that entail a probate sale by court confirmation; and finally, Realtors striving to keep the American dream of home ownership alive. Customarily, seasoned developers love probate sales since often a seller just wants to get rid of the property because of not wanting the emotional attachment, or they just do not have the funds to develop the property themselves. When more than one seller is involved, I find that the majority want the infusion of additional cash. Hence, they want to quickly get rid of the property, regardless of what the true value might be. This is not the case with a probate sale with court confirmation. Here there is a probate appraisal and a Judge who reviews all documents and the accepted offer must be at least 90% of the appraisal’s value. As most of you know, I have a probate listing with court confirmation in El Segundo, California. For those who are not familiar, when a Last Will & Testament is not in place, the property goes into probate and there has to be a court confirmation of the sale. Often buyers show up at the court hearing and it becomes a “bidding war” as the court date is published in the Multiple Listing and on all the internet portals as well. Hence this usually generates a flurry of activity. Numerous Developers offered to have me represent them on the buyer’s side as well, even though they had Real Estate Licenses that they could have used, this was strictly to get a “good deal”. I am sure you understand what the idea of a “good deal” represented to them: they wanted to buy the property below “true market value”. My “fiduciary responsibility” is to the seller, and in particular in this case to the Estate. Having had a Probate Appraisal in hand I tried to explain to all the developers and even to some of their agents that the buyer needed to offer close to 90% of the appraised value. Why do people think that by offering bribes (commission on both sides) that this part of the requirement can be overcome? (Just thinking out loud here) In this situation, all’s well that ends well! The buyers who got the property are a very nice family. They are first time home buyers who clearly understand the level of “do it yourself” to make the place into what they call “home”. The best part is even though they paid a higher price than what developers were willing to pay, they still got a great deal. Their accepted offer was within the range for the probate appraisal, hence clearly it discouraged the “developers” from over bidding the accepted price by an additional 5%. Now not only is there a happy buyer, but there is a happy seller as well who understood the emotional roller coaster ride of the buyers and was appreciative of their stick to it attitude and not giving up along the way. At the same time the seller got the maximum money for the...
read moreWordless Wednesdays: Jack resting up for Midnight!
Wordless Wednesdays: Jack resting up for Midnight! He is counting down to the New Year!! If you are considering buying or selling a luxury home, an ultra luxury home, luxury investment real estate, luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu, feel free to contact me at 310.486.1002 or homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com. I am a pet friendly realtor and I contribute a portion of my commissions to local animal rescue organizations. – ...
read moreLooking for a Realtor who considers every transaction as a big deal? Well you found him!
Looking for a Realtor who considers every transaction as a big deal? Well you found him! As Realtors, we tend to generalize amongst ourselves as to what is a “big deal” and what is a “no big deal”. This contest by Debbie Reynolds, “The Real Debbie Reynolds” made me ponder what perspective is the right way and what perspective is the wrong way of looking at this question. Then the more I thought about it, there is no right or wrong way to look at this question. Rather there is only one way to look at it. After pondering a long time, I have come to the conclusion that by taking a position one way or another, this type of thought process would hinder our ability to provide 100 per cent client service. What might be a big deal to someone, it might be not such a big deal to someone else. Purely based on geography and socio economic locations we could have a $400,000 dollar sale as being a big deal in one part of the country and in another part of the country it would be a very small transaction. My father always said: “…every dollar is a dollar…” hence I have always accepted his wisdom about this subject and never focused on if the property was small or large based on money. Hence I considered every transaction as a”big deal”. As listing agents or buyers agents we have what is called a “fiduciary responsibility” to our clients. It does not state based on the dollar amount what our responsibility is. It is purely based on representation what our responsibility consist of. Hence I have always taken the approach to provide 100 per cent no matter what the price point was. This approach has served me well over the years. I have taken land listings that were difficult to sell due to building restrictions and length of approval time to name a few with small list price as well as land with high list price. I have had price points that were very small but I received repeat business from both the buyers as well as the sellers. I have listed and sold properties: Condominiums, Single Family Residences and Vacant lots in a short period of time and others took a long period of time to sell. The important point for me was that my clients were satisfied with the service I provided. I have also taken lease listings that were very small and turned into repeat business and some turned into larger transactions. So how to choose one for this challenge was the most difficult part for me. I for one could not select one out of the many small transactions neither of the large transactions others would consider, they were all very valuable and meaningful to me. So with that said, if you are looking for a Realtor who will treat your property as a “…meaningful listing…” no matter what the price point. Feel free to reach out to me. I will be happy to represent you and give you the same 100% I give all my clients. If you are considering buying or selling a luxury home, an ultra luxury home, luxury investment real estate, luxury vacation homes, or luxury beach properties in Southern California,...
read moreSpeechless Sunday: Surfboards with a special meaning!
Speechless Sunday: Surfboards with a special meaning! This window cought our attention as we were strolling in Santa Monica, CA! If you are considering buying or selling a luxury home, an ultra luxury home, luxury investment real estate, luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu, feel free to contact me at 310.486.1002 or homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com. I am a pet friendly realtor and I contribute a portion of my commissions to local animal rescue organizations. – ...
read moreWhat song best describes my Real Estate Business of 2013? What a great question
What song best describes my Real Estate Business of 2013? What a great question!! This post was inspired by Kathleen one of my Active Rain friends. She placed a challenge for us to come up with and describe our Real Estate Business in the form of a Song for 2013. What song would best describe my business? First in all fairness to disclosure I am not one who listens to many songs with words. In our relationship Diane is the one who could recite every word of a song as well as name a song on the first or second note as to what the title and who performed it. I am more of the Classical Music and Jazz Music listener we meet at Rock & Roll but do not know and never memorized the words. Now getting back to Kathleen’s question, had she asked during the down turn of the Real Estate Market and Economic Meltdown of a few years ago? The song would have been totally different one for my choosing. This year was a fantastic year compared to previous years and as the year is finishing up I am in the process of trying to close one more transaction in the next day or two. As well as there are already large projects in the works for next year. So it was virtually a no brainer for me to select this song. The song is of course is the Theme Song of Rocky the movie: “Gonna Fly Now”!!! Gonna Fly Now As far as the beginning of the year I was working extremely hard by doing many small and medium transactions to the point that by the second Quarter I was named by my company in a very elite list” “The Top One Hundred Agents by volume” . If you listen to the words of the song you will know that “…I was trying hard…” and by the six month mark my business was “…getting strong…” and as the year is coming to a close and the way next year is looking it is clear “…Gonna Fly, Fly…” stronger next year! If you are considering buying or selling a luxury home, an ultra luxury home, luxury investment real estate, luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu, feel free to contact me at 310.486.1002 or homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com. I am a pet friendly realtor and I contribute a portion of my commissions to local animal rescue organizations. – ...
read moreThe Mini Traveler in Marina Del Rey, CA 90292
The Mini Traveler in Marina Del Rey, CA 90292 As some of you know, yesterday Diane and I were taking a casual stroll by the Marina Channel as we were heading on our way to the beach, (that is the Marina Del Rey Beach) and look what we saw: A Mini Traveler! Those of you who read my posts regularly know I love cars and living in the greater Los Angeles is truly a treat, not just from the perspective of the weather, but to be able to find the variety of cars. I want you to know, if are not keeping up with vintage cars, this is a rare one to find anywhere in the world. Here is a bit of a history: The Morris Mini Traveler made its first appearance between 1960 and 1962 and continued until about 1969 as the Countryman. This car is often considered as a real British Icon and the Mini Traveler was the precursor to the Mini Cooper. In 1969 it was reintroduced and production continued until about 1982. Depending on who you listen to there were less than 500,000 cars made throughout the entire period. Keep in mind there were a lot of change names as well as production. Hence this was truly a fun find for me! If you want to buy one, they are hard to find but the good news is, if you find one it will be south of $30,000J. If you want to relocate to a climate where you can keep your vintage cars from the elements of nature, please reach out to me for a Relocation Consultation to Marina Del Rey and or vicinity! If you are considering buying or selling a luxury home, an ultra luxury home, luxury investment real estate, luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu, feel free to contact me at 310.486.1002 or homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com. I am a pet friendly realtor and I contribute a portion of my commissions to local animal rescue organizations....
read moreWordless Wednesdays : Merry Christmas from Marina Del Rey,CA!
Wordless Wednesdays: Merry Christmas from Marina Del Rey, CA ! Today was 81 degrees on the beach hope you enjoyed your Christmas as well! If you are considering buying or selling a luxury home, an ultra luxury home, luxury investment real estate, luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu, feel free to contact me at 310.486.1002 or homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com. I am a pet friendly realtor and I contribute a portion of my commissions to local animal rescue organizations....
read moreChristmas Decorations in a Pet Friendly Realtor’s home in Marina Del Rey!
Christmas Decorations in a Pet Friendly Realtor’s home in Marina Del Rey, who has cats! As most of you know I am a pet friendly Realtor in the Greater Los Angeles area. We live in Marina Del Rey and most of our friends and neighbors have beautifully decorated homes with large Christmas Trees. We on the other hand have limited decorations! We enjoy our neighbors’ and friends’ decorations and we have to enjoy them from a farJ, because we have cats. Our cats do not want us to have a Christmas treeJ Hence I started years ago to make a Horizontal Christmas Tree! So I hope you like our decorations. I do not want to mention we will not have a White Christmas either! We will have anticipated 77 degrees on Christmas Day and that is the reason we live here! If you are tired of the cold and snow of the holidays, consider relocating to the Greater Los Angeles area. Your Pets will be happy tooJ! I would like to wish all my readers a very Merry Christmas and a Happy Holiday Season! If you are considering buying or selling a luxury home, an ultra luxury home, luxury investment real estate, luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu, feel free to contact me at 310.486.1002 or homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com. I am a pet friendly realtor and I contribute a portion of my commissions to local animal rescue organizations....
read moreWhat is in store for the Greater Los Angeles Real Estate in 2014?
What is in store for the Greater Los Angeles Real Estate in 2014? I have been asked by clients, potential seller as well as potential buyers as to what is in store for the Real Estate Market in the Greater Los Angeles area in 2014? This question is often asked concerning the Los Angeles Real Estate activity at parties and other functions I attend. Sometimes I receive the same question via email. Since I have been answering this question so often lately, I thought I would share with everyone via a Post. By the way, on a side note, this is a good thing when Real Estate Questions are the Topic of discussions at Social Activities such as Holiday Parties and Cocktail Parties. It is clearly a positive sign. Let’s be honest, we do not really know where the activity will head without a crystal ball, but there are clearly some solid indicators that give us a pretty good idea where the Real Estate Activity will head to in 2014 and beyond. First and foremost we need to monitor Consumer Confidence Index very closely. This usually will let us know what will be happening in the coming months. This is important, since from the time the average buyers decide to purchase a property generally you are looking at 90-120 days before they actually close on a property. The key is that it takes about three to four weeks to find and negotiate on a property and then thirty to sixty days to close. So if the buyers move fast there is your 90 day benchmark and if there are delays along the way, then you are looking at 120 days. Hence we can have a good indication what will be like in the coming three months! The current consumer confidence has been measured by Government Agencies, Banking Institutions, internet platforms that have a large group of Realtors answering questions as well as potential buyers who are communicating their sentiments and large Real Estate Brokerages who monitor this very closely. The consensus is pretty much identical that the Consumer Confidence is improving. Second we need to monitor the activities of large scale investors. Since the majority of these investors do their homework and even have economic advisors who create prediction models as to how the Real Estate Market will perform in the short as well as in the long term. They are on top of this, since they have the most to gain or lose from a financial perspective. See for yourself as you drive around the Greater Los Angeles Area, there are large massive Condominium complexes which are being built as of this writing. Others have Notices on their Entrance points indicating, that the property is in the building department for updating or demolishing approval. Clearly this type of activity is a three to ten year project. Hence the answer is clear the big developers feel good not only about 2014 but for a few years past it. Third we need to monitor the Affordability Index. As prices increase and interest rates climb these factors will all slow the real estate activity in the various geographic markets. Since Los Angeles has such a high average entry level price point this...
read moreSpeechless Sunday: Merry Christmas
Speechless Sunday: Merry Christmas If you are considering buying or selling a luxury home, an ultra luxury home, luxury investment real estate, luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu, feel free to contact me at 310.486.1002 or homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com. I am a pet friendly realtor and I contribute a portion of my commissions to local animal rescue organizations....
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