Tag Archive: Real Estate


 

SellersFeelingGood

 

There has been a vast improvement in market confidence for sellers. Those who thought positive last year were right. Now even more sellers have high hopes. Perhaps they will be right again. Slow and steady market growth means a better economy for all. I’m not looking for a bubble that can burst, just healthy economic growth and positive equity for home owners.

Beautiful and Custom-Built ~ Your Next Mountain Home

1025 Black Oaks Dr., Lake Arrowhead, Ca 92352 Offered for  $499,000

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Bedrooms: 4

Bathrooms: 3

Year Built: 1993

Square Feet: 2361

Lot Size: 0.37 Acres

Garage: 2 car attached

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Property Description: Stunning custom built home w/ lake rights features a large mountain-level lot, panoramic views including a peek of Lake Arrowhead. Direct entry through the 2 car garage. 4 spacious bedrooms. Master bedroom w/ bath & fireplace as well as a deck w/ hot tub to take in the views. Grand kitchen w/ abundant storage, pantry, & nice appliances. Living room opens to a lovely deck. Dining room w/ fantastic picture windows. Fire sprinklers, super-foundation, surround soud, XL water heater – many upgrades.

 

“10 States Hit Hard By Foreclosures
By Chris Persaud of Bankrate.com
Live in one of the 10 states featured in this slide show? RealtyTrac, a California-based firm that tracks foreclosures, compiled a list of states with the highest rates of foreclosure in November. Nationally, one in every 1,155 housing units received a foreclosure filing in November — down from a rate of one in 978 in October. Click through to see if your state made the list.”

ForeclosureI was reading an article on MSN’s internet news page this morning regarding foreclosures. The 10 hardest-hit states for foreclosure was an interesting read. Some not so surprising, like Florida, they have really suffered economical set backs for quite some time. Others were more surprising to me, like Utah. I have a Realtor friend in Utah and got her take on the matter. Here is a quote from Realtor Kaye Cundick with Chapman Richards Real Estate, “We have had many short sales over the last few years but it’s starting to slow down in that area and the market has gotten better. Last year was a great year and we plan on it being even better this year. – Kaye”

California is not on the list of the 10 worst states currently. I’d say I agree with that, there has been a definite shift. I was more than surprised to discover mountain-wide there are only seven foreclosures active in our MLS right now. This is great news for buyers and sellers. The market is a lot more stable when you take foreclosures out of the equation.

2014 seems to be a year of continued improvement in our market. If you’d like to come up to take a look at properties in our beautiful community, I’d love to meet with you. 909.838.8715 or jhgalligan@msn.com

To read the rest of the article, click here.

I have a home listed in Twin Peaks. The owner lives just around the corner. Between she and I, we check the house about once a week. The home was tenant occupied up until September, but was difficult to show on the tenant schedule. Image

Last week, the owner went to the property and found the front door unlocked with a door knob on the kitchen counter. The back door had been changed. She called, “Did you change the backdoor lock?” Of course I didn’t. She also noticed, there were signs throughout the house noting the home had been “winterized”. Again, I did not do this. I asked her if the home had been foreclosed upon. She said no. She has been talking with her bank about late payments and had just spoken to them the day before.

Today she said she spoke to her lender, Bank of America, and they confirmed they did come into the home, change the lock and winterize the property. They said her homeowners insurance wasn’t satisfactory and they needed to “protect their asset”.

I am completely shocked the bank would break in and change the locks. They did not call her for an appt., or to even let her know this would be happening.

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I searched the internet and found an article written last year, “Returning from work or vacation, homeowners across the U.S. are finding themselves locked out of their houses, with their homes broken into and many of their belongings stolen and destroyed.

The culprits? Bank contractors, hired to preserve abandoned properties. These contractors often ignore signs of occupation, including furniture, maintained gardens and turned on lights.

It is illegal for any bank representative to enter a property if they have not retaken it at a foreclosure sale – especially if there are signs of occupation. Yet contractors have been repeatedly ignoring these signs….”

You can read the whole article here. Reading this article confirms my fear, that some properties which “appear vacant” are not. Some home owners are locked out of their own properties mistakenly! In another story, the preservation company stole a car! You can read that story here.

In a Resort community such as ours, this is very scary. I believe homeowners need to beware of their home appearing vacant. According to the article if your payment is 45 days late or more, they will hire a servicing company to monitor the property. The issue seems to be with the servicing company doing whatever they like.

Please tell your friends and neighbors to watch out.

In April I sold a home to a lovely client and friend. She immediately got to work in remodeling her new vacation property. This house sits on an odd corner where it kind of touches 4 different streets. Three of those streets are in our countys Special Services District for road maintenance and plowing; etc. It’s close to the lake, surrounded by trees, a very nice spot. This month my friend received her semi-annual property tax bill. The bill had an assessment of $1,900, the first half of a $3,800 road assessment to repave on Special district streets. This was the first she had heard of this large sum and was shocked to say the least.

I called the selling agent, who called the sellers. Neither party claims to have had any knowledge of this assessment. I called the neighborhood organizer of this project. He gave me the phone number for the person at SB County handling it as well as the project name. He says he sent many emails to my friend letting her know how excited he was about the paving project. She says, yes, within 4 days of her closing escrow he came over and asked for her email. She shared his excitement about the maintenance and beautification of the roads. He never mentioned the cost. She never got anything from the county. He did say one interesting thing to me, however. He mentioned he was surprised this home was not exempt because of the placement, he wasn’t sure she would benefit from the project.

The county was able to disclose the mailing info (survey, ballot, results, notices) all went to the sellers mailing address. Seller says they didn’t see anything. I asked the county if this property could be exempt. Initially I was told, “no.” My friend took over with the county and worked with them. The county revisited the property and changed their minds about the exemption. So in the end my friend will be exempt from the $3,800.

My question is, should the seller have been responsible for the non-disclosure if, in fact, someone did have to pay? Are people responsible for reading their mail? The survey went out during the escrow period, the results were sent after we had closed. So, technically it was not a done deal. I think if one  has knowledge of a possible fee coming down the pike it should be mentioned. I think my client would have purchased the home anyway. Tax bills should not be a shock. Property taxes are something we check into during our discovery period based on public record. Since this was not yet enforced, there was no way of knowing for the buyer.

In the future, when I sell houses on these small roads, known to be in the Special Services District, I think I’ll give them a call and ask if there are any proposed fees. Just like I have to call the Weed Abatement department to ask if there are any outstanding notices or liens on a property. I learned a new lesson here.

Coincidentally, my partner in the office also sold a vacant lot during the same period on the same street. In her case it is not exempt and was also not disclosed. I have yet to see what will come of that scenario.

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