The New Normal – Inland Empire Real Estate Margins

The New Normal – Inland Empire Real Estate Margins
A friend of mine just email me the attached graph. To complete a lenders foreclosure process the bank must go to an all cash auction at the court house.  The opening bid is typically simply the loans outstanding balance, but since 2008 the banks have been “dropping”...
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Is Public Perception Changing?

Is Public Perception Changing?
The stock market is at four year record levels, manufacturing is coming back and we are seeing a lot of positive press on real estate.  Real Estate has caught negative press for over 5 years now, it seems hard to believe that we are that far along but 2007, 2008, 2009, 2010, and...
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List Price – It’s Just a Number

List Price – It’s Just a Number
Often times people ask me if my typical offer is a certain percentage of list price.  The answer is it depends. House #27 taught me a lesson I will never forget.  It was listed at $63,000 and in superb condition (more or less ready to be rented).  After looking at it, I told my...
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Get Used to Hearing “No”

Get Used to Hearing “No”
I try to buy a lot of houses and every so often I think I am pretty close and am disappointed to hear the dreaded No from a seller.  Sometimes they are less polite and use words like: “cheap”, “crazy”, “wasting my time”, etc. Here are some of the...
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Foreign Real Estate Buyers in Califronia

Foreign Real Estate Buyers in Califronia
I have heard widely varying reports on the amount of foreign buyers snatching up real estate in America.  The National Association of Realtors (NAR) recently released a report based on the 12 months ending March 2011.  8% of all sales where from international buyers. Foreign Buyers...
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Resolution to Purchase when Buying in an Entity

Resolution to Purchase when Buying in an Entity
Every so often when buying a new property the escrow officer will email and ask me for a document called a Resolution to Purchase.  I said that I would provide one, I had a general idea of what they where after, but I had no idea what it specifically need to say and what was required. After...
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REO’s and Earnest Money Deposits

REO’s and Earnest Money Deposits
I get quite a few emails with visitors asking me about earnest money deposits and real estate owned properties.  Here is a good Frequently Asked Questions for bank owned houses and earnest money deposits. How do I provide the Earnest Money Deposit with the initial offer? Here is...
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California’s Buyer Choice Act: Bad Escrow Companies and ServiceLink

California’s Buyer Choice Act: Bad Escrow Companies and ServiceLink
Sunday October 11, 2009, California Governor Schwarzenegger signed the Buyer’s Choice Act, Assembly Bill 957, into law. The new law prohibits owners (typically banks) of foreclosed properties from forcing California homebuyers to use a particular title company, Escrow Company or...
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Code Enforcement Deal – House #52

Code Enforcement Deal – House #52
We finally closed House #52.  This property fell out of escrow 4x, went to auction once and finally was sold to us.  With this purchase we helped the real estate get rid of one of their dogs (a difficult property), if we didn’t buy it, it probably would have been pulled and...
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Inland Empire Real Estate Market Update

Inland Empire Real Estate Market Update
The times keep getting even more interesting for all the Real Estate Investors out there.  It seems like pending sales have crashed and retail buyers interest is slowing down.  Most investors haven’t got the memo and are still putting out tons of offers. At this time we don’t...
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