When a new bank owned property hits the market there are usually many offers to compete with. Here are a few tips and advice on how to get your offer accepted.
· Offer at or above list price - Most lenders in today’s market are listing properties below market value to induce a quicker sale. So don’t be afraid to offer more than listing price.
· Shorten your inspection period - Standard inspection periods are written at 17 days. Be aggressive and shorten them to 5-7 days. This will increase your odds significantly of getting the deal even if your competing against cash offers.
· Increase your deposit - Depending on the price of the home standard earnest money deposits or EMD’s are between $1000 – 3% of the purchase price. Increase your EMD to 5%-15% of the purchase price. This will go a long way with the seller who makes the decision to accept your offer.
· Work with a pro - Being represented by an agent or a broker who is aggressive and relentless about getting your offer accepted makes all the difference in the world.
If you are applying all of the above tips you will be getting your offers accepted in no time. Should you need more info or additional details please email me directly or call 909-709-3781.
Investors are buying up foreclosures in bulk, viewing the potential returns from REOs-to-rentals as better than most other investments.
But experts caution investors to be careful that they don’t take on more than they can handle, and make sure they devote some attention — and budget — into the rehabilitation of many of the properties they buy.
Nearly 95 percent of distressed homes are in bad shape and unsuitable for renting out, Morgan Stanley analysts estimate.
"The importance of getting construction — or specifically, re-construction or rehabilitation — right cannot be overstated," according to a recent report sent to Morgan Stanley clients. "The quality and cost of rehabilitation can continue to benefit or haunt the asset far past the initial completion of work. For example, shoddy plumbing or other infrastructure work can result in significantly higher maintenance costs over time, and can also affect eventual exit pricing."
Morgan Stanley provided estimates to investors in the report, citing estimates of renovation work to cost about 25 percent of the purchase price.
Source: “Rehabilitation Vital to REO-to-Rental Success,” HousingWire (April 13, 2012)
Lake Arrowhead Real Estate is currently offering two of the most well located condos on the mountain. Located in the Lake Arrowhead Village creates a wonderful opportunity for anyone seeking to fun and location. The best part about this is that each is offered with dock slips directly at the village as well.
Offered at $550,000 and $575,000
Lakefront Village Condo – Location, Utility, Access, Value with impressive lakeviews. Well located between the village and resort adjacent to all the village amenities – restaurants, shopping, night life, services and your brand new private boat slip just steps away. Open floor plan with upstairs master suite and beautiful lakeviews. Specious viewing deck and single car garage and more! A great opportunity to own Lake Arrowhead Real Estate.
Adjacent Unit FAvailable for $550,000
Email or call for more info.
Local Lake Arrowhead resident Nathan Diones just received his California Real Estate Brokers License today, making him currently the youngest employed real estate broker on the mountain.
Only 29 years old, Diones was born and raised in Lake Arrowhead, and is a Rim High School graduate. Diones works for CAPRE Real Estate in Lake Arrowhead and over the last two years, he has assisted in establishing and growing CAPRE Real Estate, not only on the mountain but in the Newport Beach and Beverly Hills offices as well. Previously, he worked for REMAX Lake Arrowhead for three years.
Diones has an extensive background in both commercial and residential real estate including dock sales. “I enjoy being able to help others appreciate the beauty of Lake Arrowhead which I have had the privilege to call home for all my life,” says Diones. “As a longtime mountain resident, I know this mountain like the back of my hand and my enthusiasm and love for our community really gives me an upper hand in this volatile market we are all experiencing.”
In addition, Diones himself has purchased several properties on mountain and is active in renting them to lower income families.
Contact Info: email@example.com or 909-709-3781.
Many people have asked lately, “Real Estate business?”. Although volume is down as a result of the overall market conditions, investors continue to exchange property at a solid pace. While many of our client’s primary motivation for buying and selling in today's market is 1031 exchanging deferral of taxes, we see many other motivating factors come into play. For example, a few ‘non tax’ reasons investors decided to exchange included: Lifestyle changesMany of our clients choose to exchange out of management intensive properties and into properties that require less hands on management. As a result, we see many clients exchanging out of several small properties and into one large property to consolidate the ownership benefits and reduce their management responsibilities. Another popular lifestyle move is to exchange out of actively managed properties and into 3rd party managed properties. For many clients this was accomplished by selling one or more single family rentals and exchanging into NNN leased properties or fractional ownership of a large institutional property via Tenant In Common (TIC) ownership. One interesting 1031 Exchange done purely for a ‘lifestyle’ reason was our client who happened to be a retiring attorney. He sold the office building that housed his law firm and exchanged into a 10 room Victorian. His goal for the Victorian: create a bed and breakfast that he and his wife could manage during their retirement. Portfolio ReallocationOf course not all of our 1031 Exchange clients are looking for lifestyle changes. We also work with aggressive investors acting to improve the position of their real estate portfolios. Some of the changes these investors made included:
Here is a link to view all of the available docks on Lake Arrowhead. Should you have any interest or questions please email or call direct at 909-709-3781.
The summer market is very active and I'm currently seeking single slip dock owners near Village Cove and North Bay. Should you have an interest in selling please let me know.
W200c A single slip in Paradise cove for $123,000.
S265 Single Slip Orchard Bay Dock. $100k This slip was SITE value only and needed to be replaced.
Tavern Bay 1 Slip 17 A multiple Lake Arrowhead Dock Slip.
NSM 3 Slip 17 an Slip 19 $39k each.
The Village Cove area and back of North Bay are highly desired. I have clients willing to pay a premium to purchase a dock slip in these two areas.
Have you or anyone you know appealed their property tax assessment this year? Lake Arrowhead Real Estate Market is off 25%-35% from recent historical highs. Simply put you could be paying 25%-35% more in taxes than your neighbor!
There are local Tax Appeal Companies, CPA's and Attorneys who charge a fee to appeal your real estate property taxes. Most charge by the hour (15-25 hours) or roughly 30% of the taxes saved.
The assessed value is your local assessors measure of value on an asset for the purpose of taxation. The assessed value of your property does not reflect what your property is worth or what a potential buyer is willing to pay.
As a courtesy to my clients and future clients I have set up a property tax appeals division free of charge. I prepare a market analysis specific to your property, submit the required paperwork to the county assessor, attend county assessment hearings, present evidence and testimony in support of your property value.
For more information regarding your own scenario you may email or call me direct.
Recent overnight rains has brought the lake level up to it's full capacity of 5,106'. Lake Arrowhead and surrounding communities have received over 10" of rain within the last 24 hours.
Here is a picture taken on 12/20/2010 around 1pm at the entrance to Arrowhead Lake Estates on North Bay Road.
With the recent storms and upcoming storms most of the local residents are hoping for snow just in time for Christmas.
The forecast is calling for rain and that is just what we have. The good news is that whether its rain or snow, they both fill up Lake Arrowhead to full capacity.
According to the Arrowhead Lake Association we are only about 2 feet below full. We are certainly going to have another great summer with a full lake again!
Above is a view from our live web cam taken at 2:08pm 12/18/2010.
With commercial financing becoming more available throughout the nation right now we are seeing more and more apartment building sales on the rise. Buyers are coming the fence and starting to leverage sweet deals vs. paying all cash.
The popular areas have primarily been Redlands, Loma Linda, and UC Riveside. These areas hold strong demographics as well as demand for housing.
Should you like to know what your real estate could bring in today’s market, please give us a call. At absolutely no obligation we will prepare a market analysis specific for your property.
CAPRE Commercial Group
These are recent Lake Arrowhead sold homes for the month of October 2010.
Be sure to check back frequently since we will be posting monthly updates of recenly sold homes for the Lake Arrowhead Real Estate Market.
For more information or a specific market analysis for your property give us a call or email us.
Thanks for reading.
Lake Arrowhead Real Estate and Dock Sales
Nathan Diones (909) 709-3781
Lake Arrowhead, CA Market Facts For 2010
Courtesy of www.LiveLakeArrowhead.com and the local MLS
With a limited amount of Docks on Lake Arrowhead to go around Lake Arrowhead dock sales have been anything but slow. Lake Arrowhead dock sales never seem to stop.
For every seller there is a buyer for that particular dock. We have had to create a buyers waiting list for certain areas on the lake due to limited availability. When a dock becomes available the potential purchasers are then contacted and offers are written. Most cases escrows are closed within 10-14 days or so.
According to the local mountain MLS and public records here is the summary year to date:
43 Lake Arrowhead Docks available as of 10/15/2010 ranging from $45,000 up to $155,000.
40 Lake Arrowhead Dock sales since 1/1/10 ranging form $32,000 up to $149,000.
For more information on Lake Arrowhead docks for sale or to be included in Dock updates visit: