Lynne Pope

Todays financial headline on FED gets it….

 Toss away the LA times and read the real information here….plus the political

 http://www.inman.com/buyers-sellers/columnists/loubarnes/fed-gets-it-credit-crisis-trumps-inflation

They do. Worth your time: http://www.federalreserve.gov/, the minutes of the Aug. 5 meeting. Unusually short, clear and grim, two things stand out: They get the risk of credit-default spiral (shrinking credit, more defaults, less credit …), and that risk is greater than inflation. The FDIC sure as hell gets it, staring at a bank/collateral spiral.

Impressive information is always at Inman News. The latest article on REO’s is a must read for everyone in todays market. http://www.inman.com/buyers-sellers/columnists/berniceross/represent-reos-with-caution 

Inman gives 4 areas to be careful about as an agent.

Remember agents when Banks tried to become Realtors?

 About 5 years ago I saw a letter that came out from a Bank and was quickly withdrawn.

The REO situation has placed the Banks in the latest quicksand world of service. They have few skills to help them in an undertow of paper, people and crisis.

“Join Inman and read the real world in Real Estate.”

Feel pleasure in small things- a beautiful strawberry shaped like a heart.

The last thing Realtors ever want is for someone to lose their home. Pause and remember -This time too, shall pass.

 Don’t feel skunked if an REO or Short Sale is right on your street….but if you are trying to sell your house…you certainly will feel it. It’s just a fact of the times. Be brave.

Thank goodness for the machine turning into loans for people   http://www.hud.gov/

Check out the “hope for homeowners fact sheet“! Most important- people want to know some options. Things are changing pretty fast…here is a quote from the article…

“The President has signed into law the Hope for Homeowners program. This program will continue FHA’s existing and successful efforts to provide aid to struggling families trapped in mortgages they currently cannot afford. Certain borrowers facing difficulty with their mortgage will be eligible to refinance into FHA-insured mortgages they can afford.

Hope for Homeownership Fact Sheet

read articles HUD Secretary: FHA has helped 300,000 families find relief with government-backed mortgages

Having helped a seller with a short sale gave me in the line of fire experience with the ups and downs of working with sellers( the bank) that never sold before…

It had a good final result and it sold- we had 4 escrows and 1 finally closed. The difficult part was “Realtor-Agents” trying to do both and not being super great at either. It took a lot of hand holding with escrow, and patience.

All I can say is thank goodness lenders didn’t get to cut out the middle man…..woman  REALTORS!  We are really like teachers….helping families get moving into a home. It takes education, preparation and hand holding.

For now the G0v is trying to hold out a hand….it has to. Lets hold our hands together.

Hooray Mira Costa…congratulations to Manhattan Beach and Hermosa Beach!

Congratulations to schools that made the top list in high schools in our South Bay area

Other local South Bay area High Schools were:

Palos Verdes High and  Palos Verdes Peninsula High plus Private school-Chadwick

West High for Torrance

Hawthorne Math and Science Academy for Hawthorne, CA

I will always care about schools first!  My parents were teachers. Mother taught High school English and my dad was a College professor with a PHD in English. Sorry it didn’t rub off. They were perfect and I just want to have fun. I sure love to read!

My husband Bob Pope and his sister Pati graduated from Mira Costa High when they lived in Hermosa Beach where they moved in 1960. Bob enjoyed surfing and school and Pati grew up to be…a teacher!!

What more can I say about Mira Costa. I have attended the reunions- they are wonderful and the group meet the next morning and surf. If you want to really know more about our community and mira costa there is so much to learn from  Hermosa Historical Society with emphasis on architecture and surfing…oh yes- its what makes us unique. And Mira Costa High is all over the globe in outstanding athletes. It is the starting ground for so many key entrances to College sports. And what about the Theatre Department? I have attended so many of the plays there. Those two are just a start to what Mira Costa has that you can learn about. How about our locals in Beach Volleyball - Soccer -Swim teams or the Olympics?

My costume designer’s home in Gardena is a great spot for someone who wants a lot of storage. The bonus room has one long closet with mirror doors. Isn’t it darling. She fell in love with the parquet wood floors. She went on to add the bamboo through all the bedrooms. New flooring in the kitchen-laundry and bathroom and new kitchen appliances grace an already great home. The fruit trees are mature and bearing. The driveway can park 4 cars plus a 2 car garage. This is for professionals who need to drive only a short way to access the freeways. It is blue and white charming.

 I have it showcased on Realtor.com in Gardena in the 350-400 price range area to shop. It is also on Trulia, and a ton of other sites. I’m about to add it to Craigs list too. I am open to ideas from other agents on marketing on the internet.

Do you feel Hosed?  OR Don’t rain on my parade!   OR Take a new view of the low-ball offer and learn

What a concept. I just read James Wexler in Arizona who wrote come compelling points about this subject. Up till now I adopted the current Realtor assumption that Leprosy is on par with the low-ball offer.

This guy turns it around and gives some nice answers to give your seller. Why it is happening and some ideas of how to arrive at some balance and opportunity. I invite you to share good ideas of how to get a low-ball offer written and accepted too?

http://wexzilla.com/get-your-low-ball-offer-accepted-in-phoenix-az/

Thanks for thinking of this in a new light! Will Arizona issues work the same in California? I think so, this is one issue that has no state lines.

1. Fannie Mae and Freddie Mac raised limits “late” in the game and the sub-prime could not have done the damage it did had they entered sooner..some say…what about you?

2.Is it good to refinance now and lower the cost of your mortgage?400Thousand have been helped

3. If you have a high debt to income ratio will that hurt or help? The government ways if it helps you then you have to share in the profit with the gov when you resell it.

3. First time home buyer tax credit of 7500? NO-It is a zero % loan and it has to be paid back.

4.Immediate new deductions on property taxes?

5. Is 2010 or 2111 the year of the pick up for Real Estate?

6. Will there be 10 years of unparalleled growth?

7. Can you get a loan?

8. Is California ahead or behind the curve?

9. Have you found a Realtor on Linkden or Facebook?

OLYMPICS!    175  of  600 Athletes call

Locals in 4 cities ~Keri Walsh  of Hermosa Beach- Kerri Walsh and Misty May are coached by Troy Tanner who stresses fundamentals. Sean Rosie Rosenthal –volleyball and Brenda Shinn- shooting - Shannon all from  Redondo Beach

Nichole Branaga from Torrance team Volleyball.  

Palos Verdes  sports Merrill  Moses -water polo plus  Lindsay Davenport -tennis from 1996 Olympics.

Times to remember 8-11-08 women volleyball starts and Men will plan Thursday Aug 21- women’s finals Friday Aug 22.

Funny word “Fun dame” in fundamentals.  We have fundamentals in every walk of life.  In Real Estate we are back to it. So here I am bragging in my southern accent about the

I just read a great blog on the Mission San Luis Rey on Oceanside and I don’t want you to miss out on it.

Mission San Luis Rey in Oceanside - A Bit of California History (LOCALISM FEATURED)

When I moved to California from Kentucky and Florida I learned about the Missions.

My very first mission experience was in Lompoc. Mission La Purisma. I heard about the candlelight tour and signed up. It was one of the absolute TOP things I have ever done -over Disneyland, any theme park, even Shamu!  And the opportunity is coming your way.

October 10-11 they are having the candlelight tour. It sells out every year.

Imagine. walking with a small group led by a little lady with a lantern to the sunset pouring through the mission openings. As we walk we see a group of Indians at their fire and a pony and rider gallop by.  The bell, the experience is truly a reenactment of the olden days. The window vignettes show many themes of the mission. The Lovely lady with a Spanish mantilla, a family making chapatas…at the table, the military men talking at a roaring fire. Finally a big finale with a friar tuck and food tables laden with food made by locals. Have I tempted you yet to say 40 dollars a ticket is worth it for each of your children and for the child in you? Check out the details and email me with thanks if you love it like we did.

http://www.lapurisimamission.org/  the info says call before July 1 to obtain information and procedures. Call (805) 733-3713 I hope you get in!

Saturday LA Times article on Real Estate by Peter Y.Hong states that brokerage firms settle litigation and deny wrong doing.

This leads me to say several things to the public. The Hazard Report is an important 3rd party information system that Realtors highly regard.

I have attended informative sessions and visited Property I. D. offices. They have a strong company

The facts that the hazard report provides in every transaction is truly essential. Palos Verdes and Malibu have “fire areas”, Torrance has a section with “soils” issues that need owner awareness and care, Airports, land issues and every potential hazard is outlined in these reports.

The issue is not the report but if the referral has a kickback. Buyers can have several choices of companies in Hazard reports. Some companies have more detail than others. Like a cliff notes version, or the Mercades. It is good to see the variety of reports to choose the one you think will give you the most information.

The “clue report” is an additional report that shows any insurance claims. Many companies from insurance to hazard report companies can research that for the buyer.

My hope is that the truth in this situation and the correction will lead people to greater trust than less. Buyers and Sellers do have choices. Realtors have found companies that they trust for accuracy, timely delivery and service. This is a balance of referral that is not about money passing hands back and forth but about relationships and trust. We can tell you about the many options.