Real Estate Adventures- Chicks Rule!!

Ever since I became a Real Estate agent, my mailbox gets bombarded with all kinds of newsletters and magazines.  In the March 2010 issue of Realtor Magazine, I came across this interestesing and fun article regarding demographics.  We all know that throughout the years women have become more and more independent. Case and point: according the National Association of Realtors, single women make up 20% of buyers, up from 14% in 1995. Wow, that's a big chunk. The article also points out that women are very influential when it comes to buying a new home. Women directly purchase or have stronger say over men in the purchase of 91% of new homes. 91%!!!!
Since women are so influential when buying a home the company Design Basics gathered data and performed reseach regarding what women want and came up with 4 types of women buyers:
1. "MAGGIE" Looks for comfort and function. Maggie is adventurous and spontaneous and preffers less upkeep. She pulls toward the "green" design.

2."ELISE" Very family oriented. She wants a home that's easy to clean, low maintenance, and durable. Elise wants storage and a large laundry room.  Elise is more likely to go with a traditional design, such as a country kitchen.

3. "CLAIRE" Status driven. Claire likes brand names and quality products like crown molding and a gourmet kitchen. She also wants space for formal entertaining . Claire appreciates symmetry in design.

4. "MARGO" Work oriented. Margo likes modern design and clean lines. She likes geometric shapes and unusual features like a J shaped kitchen island instead of a traditional rectangular.  Margo prefers edgy, European trends. 

While not all women are easy to classify, and some women may have a combination of these personas, the idea is for this to serve as a sales tool or guide to help with marketing and customer service.

Joey

Last week, I experienced one of the most horrifying moments in my life. My son Joey went missing for about an hour and half. When I say missing, I mean I didn’t know of his whereabouts. Although I am a working-mom, and my kids all go to different schools, thanks to modern technology, I’m constantly in communication with them. I don’t allow them to hang out after school, I have someone pick them up and take them to their dad’s where grandma will keep an eye on them for me, until I pick them up. However Wednesday is a different story. Joey has band practice on this day, and does not get picked up by his ride. He instead goes to practice, and I pick him up when it’s over. Well, this week, I totally forgot to remind him about it when I dropped him off in the morning, and he forgot his cell phone at home that day. Needless to say all the “reminder texts” were not read, and Joey totally forgot about practice. I called his music teacher several times only to find he was not there, it was then I decided I leave work in search of him. I figured he would be waiting at our “safe-spot” after his ride did not arrive, or he might have remembered and went to practice after all. It takes me about 20 minutes to get to his school, however on this day it took me 30 minutes. Traffic was horrible. I look for him at both places, and nothing. I then comb the school campus in search for him. No one had seen him after school. I call all his friends and no one had any idea. I have the school page him to the main office, nothing. By this time it’s been more than an hour since dismissal. I was constantly speaking with Mikey, checking if he got a call from him. Nothing. I decide to drive around and thinking he must have walked home, even though I have told him, not to. At this point I’m freaking out, and call everyone, including his dad, who also freaks out and says we need to go to the police. I’m literally in tears because I’m a block away from home and didn’t see him anywhere, when just as I’m about to park, Mikey calls to say he’s home, he walked here. I was so happy to hear those words. I was imagining the worse case scenario. My son, even though big in size, is only 13. He is so gullible and naïve that who knows what could happen. I’m thank God and all that’s good that nothing happened and it was all a result of our distracted minds. My advice for all the moms out there with school age children is to always have a plan in case of these types of situations, and most importantly constantly go over these plans. Always remind them of what to do in such a case. Also another good tip I have always used, is I type up or handwrite on a small card with my child’s name and all emergency telephone numbers and contacts and keep it in the small pocket of their backpacks. Loose change to use a pay phone is also a good idea. Of course Joey didn’t think about any of these things, but I have to admit it is partially my fault because the last time we all went over our emergency plans was back in September. :o/




Here are some cool and helpful sights with lots of tips and advice for child safety:

http://www.kidsafeid.com/

http://safety-identification-products.com/index.html

Adventures in Real Estate

REO's and Short Sales

There are many good deals to get your hands on out there in this CRAZY real estate market.  Interest rates are low, prices are low, and there's a good amount of inventory out there, depending on your area of course. Remember real estate is very "local", especially here in L. A.

I've been working with some buyers and their price range is HIGHLY competetive, especially with cash offers, most of them, if not all , from investors.  Really unfair, don't you think? Here I have a young, hard-working couple, who have sacrificed and saved  their money and week after week they are being litterally out-bid by these big guys.  Very frustrating, and somewhat discouraging.

I keep reminding them to be patient, and stay positive all while reminding myself. This real estate thing is lots of work! I have to admit, I do enjoy it. I love helping people, especially with something so big, and meaningful. I feel like I'm dealing with making some people's dreams come true.

Since a lot of  our offers are for REO's and Short Sales, I thought I would give you a quick explanation of both:

Short Sale Property:  Typically the homeowner owes more to the bank than what their house is currently worth.  The bank, or banks in some cases, have to accept a less amount of money for the property than what is owed. The process of buying a Short Sale is longer than a standard sale. It can take anywhere from 2 - 6 months to close escrow on these sales.  Some of these Short Sales are listed very low, creating "auction like" bidding from multiple buyers.

REO's (Real Estate Owned): A property that goes back to the bank after an unsuccessful foreclosure auction is called an REO. The bank owns the property and will sometimes have to handle an eviction. Banks will typically make some repairs, and sometimes even give the house a mini-makeover. Fresh paint, new carpet will show well, and get them better offers.  The process of buying an REO is similar to a standard sale and a lot faster than a Short Sale.