Anyone who's ever been a party to a short sale transaction in recent years where Bank of America holds the lien knows the frustration of trying to navigate a tiny vessel through the huge choppy ocean called B of A loss mitigation dept.  Or heaven forbid you were a buyer or agent using them on your purchase! Last year I had a couple cookie cutter loans take 3 months to fund on purchase escrows with B of A!! I swore I'd never get involved in an escrow with them again...Unfortunately they are a HUGE entity and my total avoidance didn't last too long before I was forced into business with them yet again. My last dance with Bank of America was this year as a listing agent where the buyer insisted on using B of A for their financing on our 30 day escrow and it took 4 weeks before their appr... 10/05/2011

Thinking about making a low-ball offer?  Let's talk about the theory of supply and demand in real estate Do you feel that you're in a buyer's market and the best strategy is to start low and "fish out" responses? Or perhaps you want to delve into what a seller paid for a property in determining what your buyer wants to offer? What a seller paid for a property HAS ABSOLUTELY NO BEARING on what the fair market value is for that property. Let's say a property is listed for $300,000.  It was purchased at a trustee sale for $195,000.  The seller's purchase price has nothing to do with what the property is worth, and you cannot consider what [you think] their net profit will be in determining what the property is worth, nor what you should offer for that matter. Let's do the reverse:  What if... 10/04/2011

Sherman Oaks Short Sale Realtors come in a lot of shapes and sizes, indeed lots of creeds and colors, political parties and religious affiliations. While being a member of a certain group or being a certain type of person may make one a good person, does is have anything to do with being a good Short Sale Real Estate Agent? Not Necessarily. There certainly is a skill set that underlies all the good Short Sale agents. Compared to a regular equity sale, the Sherman Oaks Short Sale has different characteristics that an agent must master to be great. 1. Persistent Communication The time factor in getting a Lender to approve a Short Sale may be one of the biggest stumbling blocks to agents who want to master the process. Keeping after the Bank in a way that is strong without being off-putti... 09/29/2011

Look what happens when we cut down too many trees. This is terrible!Global warming is one thing, but scroll down and look at what might happen if we continue to clear our forests! We have to stop cutting down trees! This isgetting serious! This was sent to me earlier today from our good friend, Rose Osman.  (leave it to Rosie.........) Los Angeles Homes For Sale Los Angeles Condos For Sale Los Angeles Townhomes For Sale 09/29/2011

A closing gift for your sellers - Great!  What if they are short sale sellers?  Is that considered proceeds? Many of us find it customary to provide a closing gift to our clients as a sign of good will.  Perhaps it may be more common for buyers than sellers. But for those short sale sellers, can your closing gift be considered "proceeds" from the sale? Are you violating any restrictions by the short sale bank(s) that held the lien on the property? Would you, in fact, be committing fraud by giving a closing gift to your short sale sellers? In many states, you are free to provide a gift to your clients, but there is a dollar amount limit.  Very commonly, it is a limit of $50.  It may also be the case that the tax deduction that you can take for giving the gift, according to the IRS, is li... 09/29/2011

Sherman Oaks Short Sales have many twists and turns in them and some potential sellers are currently drifting toward the far more damaging foreclosure sale because they are afraid of the costs. People looking for Loan Modifications, Mortgage Relief Options, indeed any of the Nine Alternatives to Foreclosure in Sherman Oaks often find that after any and all of the options available are explored that they can't get their head around the Short Sale because of the fear of the cost. There is some good news here.  The Bank is going to pay for the cost. In a traditional equity sale there are title and escrow costs that are often paid for by each party to the transaction.  The buyer will usually pay some or all of their closing costs and the seller, the same. So ... what does a Lender do when ... 09/28/2011

Sherman Oaks Short Sale practice reveals many different preconceived notions about what is different and what is the same from a traditional equity home sale.  Recently I found that a potential short sale seller admitted that he knew of some real and potential problems with the home, yet he thought that it was unimportant to tell the buyer about them because they would most likely get a home inspection. While it is as close to mandatory as can be, the home inspection is still a suggestion, indeed a request that is highly recommended... and even with this having been done, there is a reliance on a third party that does not have the knowledge that a home owner would have of the quirks, the nuance, the legitimate problems that his home demonstrates through time and season. Though there ar... 09/27/2011

Multiple offer situations where the listing broker represents one of the offers:  Can We Talk?.......... I think almost all of us at some point have been in a situation where you are presenting an offer for your buyers in a multiple offer situation. And in some of those instances it may or may not be apparent that the listing broker may be representing one of the other multiple offers. What's the politically or legally correct thing to do? Of course it never hurts to ask, does it?  Or does it? Is it a question that can be appreciated by the listing agent, or does it come across as being combative? In the end, does it really matter that you have the answer to that question?  Will asking that question help or hinder your clients chances?  Will it change anything?  There have been times wh... 09/24/2011

I'm sorry, but there's nothing funnier than dogs eating peanut butter...... We make a protein shake every morning and our little guys know instantly from the sound of the blender what time it is. So they wait ....... patiently. Until it's time. To LICK THE SPOON! I've seen it a million times, but it's still funny each time. One of these days, I'm going to get it on video! I know.  I'm a twisted sister.  So just deal, people...................   Los Angeles Homes For Sale Los Angeles Condos For Sale Los Angeles Townhomes For Sale   09/18/2011

Sherman Oaks Homes for Sale. Real Estate in Sherman Oaks, California Updated Sept 30th, 2008 Find Homes For Sale in Sherman Oaks. Search Sherman Oaks, California real estate , Sherman oaks CA Property Values, recently sold properties, foreclosures, bank owned homes, new homes, Condos, School Information and everything Real Estate related. CLICK HERE Sherman Oaks is an 8.1-square-mile area in the San Fernando Valley which is part of the City of Los Angeles.Sherman Oaks is relatively urbanized, with commercial skyscrapers along Ventura Boulevard and Sepulveda.. In addition, residential densities are highly mixed, with apartment and condominium neighborhoods alongside single-story residential ones. The area is a hub for regional transportation, business, and shopping. Right now there are o... 09/16/2011

Congratulations to our Winner for August: Larry & Sheila Nassau They guessed 3 out of 4 weekly featured members correctly! 1,500 Bonus Points!! This month's "Liar" posts were from featured members:Kwee HusetJane GrantJerry NewmanDonna Bosze To join the group, click here: That should be it for this blog series.  It's been a fun and interesting series for almost 2 years of learning some fun facts about your fellow ActiveRainers, but as with most things it's time to move on to more new and exciting things that ActiveRain has in store. Thank you to EVERYONE who participated in the fun! Below are the results for this months posts, players with correct guesses, and the tally of guesses: Los Angeles Homes For Sale Los Angeles Condos For Sale Los Angeles Townhomes For Sale 09/13/2011

What software/program/website do you use for your database? Just wanted to take a poll of my ActiveRain Peeps to see which program or website you use for your database. Are you happy with it? Does it allow you the marketing and communication features that you are satisfied with? Is it easy to use? What are some of the outstanding features? Is it affordable? Are there features that you wish it had or feel it's lacking? Is it just a database tool or does it have other administrative features? Let me know, Los Angeles Homes For Sale Los Angeles Condos For Sale Los Angeles Townhomes For Sale 09/11/2011

$299,000 - Amazing Master Suite Townhome in Sherman Oaks!Bedrooms: 2Bathrooms: 3Parking Spaces: 2Year Built: 1993School District: Los Angeles UnifiedSquare Footage: 1,520 Agent Name: Adam BrettPrice: $299,0005242 Kester Ave 6Sherman Oaks, CA 91411View MapAmazing townhome with 2-car attached garage in Sherman Oaks. Arched entry greats you into this tri-level townhome complete with private access 2 car garage, rooftop deck, vaulted ceilings in the master suite, fresh paint and more. Located in the interior of the building with no noise from surrounding streets, you won't find another home at this price with these amenities. There are dual master suites with private baths, and an additional powder room on the main floor. The living room is MASSIVE complete with fireplace - opening to the g... 09/09/2011

For the first time in our career, my partner and I have 12 escrows in the pipe! Between our own listings, our buyers, and the short sales I am facilitating, we have 12 transactions in escrow. And we have six more in the works! Because of the extremely hard work and diligence we've put in over the last year, and the GREAT positive energy from being part of the John Aaroe Group,  we are out-of-control busy and have hired a 2nd assistant to help with the real estate transactions and marketing.  (and she is amazing!) I have all my my short sales on a online platform that is extremely powerful that helps me track every element of the short sale, all contacts, and keeps everyone who is a party to the transaction updated instantly. We also signed up for a real estate all-in-one marketing/datab... 09/04/2011

Looking to network with other agents?  Don't forget to look in your own back yard....... Many of us are here on ActiveRain to not only post our blog entries, but to network with other agents in other regions and states. I can testify first hand that I've received several referral clients through ActiveRain that I have closed successfully (plug, plug....) But I just want to remind everyone not to forget your own backyard. I.E. - what have you done lately for the other agents at your office?  Have you reminded them of your comaraderie as a fellow agent with the same broker?  When is the last time you've done something as a gesture of goodwill for the other agents in your office(s)? Try doing something nice for them soon.  Bring in some light nosh to the next office meeting.  Buy a round o... 08/30/2011

Thank you SO much to the group members of our ActiveRain Masterminds monthly challenge! Each month, the group members and team members of our ActiveRain Masterminds challenge step up to the plate and collaborate with their team members to come up with solutions to the issues we post in the challenge each month. The quality of experience and insight to some of these solutions is probably some of the best reading on ActiveRain. As the founder of the group, I have pushed to have the amount of bonus points for ALL participants (not just the winners) be worthy of the time that they put in. I just want to take the opportunity to thank all of the members who participate in this challenge each month for their time. It's their solutions that they post each month that spark positive changes in ou... 08/20/2011

  So you are in the mood for something scrumptious and not sure where to go, well then get yourself to the Café Bizou in Sherman Oaks, California! The Café Bizou is located at 14016 Ventura Boulevard in Sherman oaks and has locations in Pasadena as well as in Santa Monica for your ultimate dining experience. The Café Bizou offers so many delicious dishes for every one with all different tastes and preferences for a decent price for every budget. Let your taste buds enjoy a delicious entrée in a warm and friendly atmosphere with family and friends! The Café Bizou is perfect for hosting birthdays, business meetings, celebrations of any kind and so much more. For more information regarding the Café Bizou please visit the link provided: http://cafebizou.com/ Sounds like a great way to celeb... 08/17/2011

The ActiveRain Masterminds monthly challenge for July is complete, and the judges scores for each team are in! If you missed this months challenge, you can read each teams entry here: http://activerain.com/blogsview/2411905/activerain-masterminds-challenge-july-2011-tenant-occupied-short-sales-which-is-the-best-approach-to-take- If you are new to the ActiveRain MasterMinds and want to learn what the monthly challenge is all about, you can click here about how to join and what the rules are: http://activerain.com/groups/ActiveRainMasterMinds Put your own team together and be part of the Creative Mindshare to coming up with solutions to issues in our industry! Each month, the members of the winning team will receive BONUS POINTS, and everyone else who participates will receive BONUS POINT... 08/11/2011

Congratulations to our Winner for July: Dee Mayers Dee guessed ALL FOUR weekly featured members correctly! 1,500 Bonus Points!! This month's "Liar" posts were from featured members:Barbara HansleySusan GouldingGayle Rich-BoxmanStacey Smith To join the group, click here: http://activerain.com/groups/2truthsandaliegame Each month if there is one member who has the most correct guesses, they will receive 1,500 bonus points. If there is a tie, each member who ties will receive 1,000 bonus points each. Once again, thank you Praful Thakkar for your assistance with the tabulation. Check out our current post of "2 Truths and A Lie"!! If you haven't played yet, then try this month! It's alot of fun and a great way to meet some of the other members on ActiveRain and maybe getting some bonus point... 08/11/2011

  If you want a delicious breakfast and not sure where to go, then get yourself down to Jinky’s Café in Sherman Oaks, California! Jinky’s Café is located at 14120 Ventura Boulevard, Suite C in the beautiful Sherman Oaks area. Jinky’s Café has so many scrumptious delicious meals to offer all of their customers with all different tastes and preferences, at a delicious price to boot. Jinky’s Café has other convenient locations in Agoura Hills, Studio City and in Santa Monica. You can enjoy a delicious meal while catching up with friends and family in a relaxed atmosphere. For more information regarding Jinky’s Café please visit the link provided: http://www.jinkys.com/ Are the pictures making you hungry yet! 08/10/2011