Friday, November 21, 2008

Best Buy, Tip and Foreclosures

Best Buy:  3322 Calle Noguera, in San Roque. Currently listed with Sotheby's for $1,325,000. It is a 4 bedroom, roughly 2200 sq ft with a pool on 1/3 acre. A buyer must have vision to see past the renters decor and clutter. This home is the Peabody School district (where my son goes and it exceeds my expectations).

Window cleaning tip: I spent $250 for a window cleaning service. The service men showed up in a small truck and brought two buckets and some rags. While they cleaned, I looked for the special supplies. After many inquiries I then found out the trick is simply good elbow grease. Since then, I have cut back on the Windex and just rubbed a bit more, and the results have been that the windows look just as good as a professional service.

Many have asked,"How are foreclosures being handled?" If I was asked that question 3 months ago I would have said, "I am learning the process, and I normally do not negotiate with the bank directly." Since then, I have written eight offers, and now I can officially comment, "Every foreclosure is handled differently." A few examples: An offer that I wrote over 2 months ago is still being reviewed by the bank. There were 7 offers on the property and since then every buyer has walked, including mine. On another property, my offer to the bank was responded to by the bank with a Counter Offer within 24 hours from submittal. My clients were stunned as they expected a response in 2009.

For foreclosures, the best suggestion is to write a clean offer and include a pre-approval letter. Have your agent keep in constant communication with the other agent and bank negotiator. Often without a negotiator the process is not resolved in a timely manner.

I am off to have dinner with my family and get a good night sleep. I will be at my Cota Street Studios tomorrow morning from 9:30-11:30. We are a 1/2 block from the Farmer's Market. If you are downtown, please stop by and see one of the most photographed and published buildings in Santa Barbara. For information on the studios, (I currently have 1 for sale and 1 for lease,) please visit: www.225ECotaSt.com

Happy Friday,

Melissa

No comments: