Lynne Pope is your Realtor in Hermosa Beach, Manhattan Beach and Redondo Beach

REO Bank Owned open houses attract buyers. People who stop by are doing it as First time home buyers, investments,  to help a family member or friend. March 2009 sales were 41% first time home buyers. Banks are lending. South Bay properties in Redondo Beach, Torrance, Palos Verdes, Manhattan Beach and Hermosa Beach actually have some REO listings and…they sell quickly. At my open  houses I post a list of the sold foreclosed properties in each area over the past year. I post all the REO active listings in the local cities. People want to be on the list to receive emails of every bank owned property and they also want to know what is comparable.

I was at a Tom Ferry Focus training event in Long Beach this week and we talked about the growing numbers of regular homes sold, selling and pending sales. One thousand agents all over the countryin the room were selling. Last year out of 50 Thousand California licenced real estate agents only 578 sold over 6 homes.  We talked about working harder and working smarter.  It means getting people qualified by a lender to buy. Most people stopping at the open houses have to get qualified. That is why this website has a wholesale mortgage page. Check it out. When buyers know what their price range is they are ready to shop.  Buyers they need to know they have competition too. Be ready to lose one or more if you see a good value and expect to pay less than asking. Local surrounding areas under 400K are getting multiple offers. Spring 2009 has people out there shopping. Buyers are informed and ready.

Everyone is rethinking where they are and why they are with their company, their body and their life in each new year. It’s that time. So the latest INMAN news is that people choose people over Company Brand. I wanted to explore why AGENTS choose the Brand. For me its personal. Just like the people who choose this agent over that it is people first, then the brand.  I respect the local RE/MAX  Palos Verdes EXECS offices leaders and the agents in the company.  The next major reason is TECHNOLOGY. This 6 separate offices brokerage has a Technology department. To care for 475+ agents on any given day technology is essential. It is the engine of our car.

The agent today has to drive the MLS in the fast lane. The consumer is there now in over 80% of the process of home finding. That is why this article impressed me about why I am where we can go to this department with our phone, our laptop our questions and get results…Right away. Few small brokerages can compare to what we have. Few large brokerages can compare to the leadership our Company took in developing this department. This was not luck, it was providence, the son of our broker is amazing and gifted with the talent of TECH. Its like music to him and he was born into knowing how to play it. So in short. I know what I need to be surrounded by…the best talent. My business has shown that referrals and repeat business still dominate the customers I have but it is the INTERNET that has helped me sell the Listings and Leases. Which Beach to buy in? Invest with the best in Redondo Beach, Hermosa Beach, Manhattan Beach, Newport beach they are as different as the name.  

This article is so informative on the subject.  From INMAN news Feb 3 2009.

2007 NAR Technology Survey named referrals, repeat business and the Internet as the top three lead generators. Among the least important were open houses and floor time — two pillars of the “old way.” Traditional brokerages are laboring under increasing expenses that include keeping up with technological advances, maintaining an office, and brand-recognition advertising.

In spite of brokers’ attempts to keep up with technology, well over half of the agents and associate brokers responding to the NAR Survey indicated they wanted their broker to expand the amount of technology offered. And for all of the dollars spent on promoting a brokerage brand, it is usually individual agents who are sought out — not the broker’s brand.

I invite all brokers across the country to break free from this common business model and reinvent yourselves. Brokers need to address the following items to update their business model:

• Recognize that clients follow agents, not brands;
• Become an Internet presence;
• Embrace technology;
• A virtual office is not a benefit, it’s a requirement;
• Understand the following logic: The more benefits and training you give agents, the more professional they become, the better their image is to the general public.

The brokerage model of the future must dispose of the mentality that a broker is only there to take commissions. The real estate agent of today needs to feel value for the commission taken from a hard-earned check. Brokers should exist to harbor and foster the development of a real estate agent. The image of the real estate agent needs to improve in the eyes of the general public, and that starts with the broker.

Given these needed advancements, it is my opinion that many of the independent brokers will conglomerate to franchisers who have the capital and technology in place to foster the development of today’s agents. Brokers will enjoy the same or greater profit margins and be able to provide much more support and technology at a fraction of the cost if they pursue these benefits independently.

Michael Volkin is president of Area Pro Realty.

Free look at all the listings in the area…This is the latest greatest tool that I have purchased for the buyers and sellers that search properties in our area. This list really covers everything even past the beach. It is free and the easiest search tool I have seen for non Realtors. It is linked to the MLS and is in real time live status.

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?

HURRY-for only one more month- FHA will give anyone with a job and 3% down a heck of a great deal no matter what their credit score is. FHA is back in the drivers seat and it’s NOT going to be “one size fits all” anymore. Sorry, low fico score owners….your window is about to close!

1st gear was a fast start- it was the only place to get a loan with 3% down.

2nd gear-FHA moved into first place as other money tried to adjust to the reeling screetching stop of loans. The program was the way things used to be, one size fits all. Everyone with pay stubs proving their job got the same deal, same down, same rate, same rules. This left out the self employed, stated income borrowers, including realtors. Something will turn up sooner or later for us.

Wow, this allowed people with low credit scores to get a home with FHA money.

Home buyers are trying to find their place to jump in. Hurry because its about to stop mid July.

3rd gear-FHA is going to reward higher fico scores and shift into risk-based systems of fico scores and down payments. Kind of like a normal lender before sub-prime, right? Yes.

And FHA is planning to modernize the agency and win back the market share. It started with higher loan limits for California and the East Coast and it won us 729,750. up from 417K.  

Realtors should be screaming to the people that have low credit scores.

The buyers should say “Honey-put down the paper, lets buy before July.”

The sellers should follow the realtors advice and prepare for famous Killer appraisals-if it’s FHA it better not have peeling paint anywhere pre -1978 lead based (so-paint) and no crack in any windows (so-replace) and carpet if needed. My photo is to illustrate upside down and peeling paint.

Facts in this article came from LA Times Sunday May 20, 2008 buried on page 7 section K by Kenneth R. Harney of the Washington Post. His article reports on the May 8^th speech from Brian Montgomery, the top FHA official speech at the National Association of Real Estate Editors. Author may be reached at  kenharney@earthlink.net  This should have been front page news. Lets blog it into urgent!