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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.


Posted by Nathan Diones on April 27th, 2012 5:41 PMPost a Comment (0)

April 20th, 2012 8:19 AM

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)


Posted by Nathan Diones on April 20th, 2012 8:19 AMPost a Comment (0)

November 18th, 2011 2:54 PM

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 F
Available for $550,000

Email or call for more info.

TGIF...


Posted by Nathan Diones on November 18th, 2011 2:54 PMPost a Comment (0)

August 30th, 2011 4:00 PM
  1. 1031 Exchange Opportunity - Investors with low basis properties may utilize Internal Revenue Code § 1031 to defer tax on the sale of one underperforming asset to acquire one or more discounted replacement properties that may enhance cash flow and provide higher long term investment returns.
  2. Attractive Purchase Prices - Many distressed sellers (and some banks) are selling investment properties at deep discounts and accepting offers that are below current replacement costs. Recent reports indicate that lenders are selling foreclosed properties (often referred to as ‘real estate owned’ or “REO” property) at an average discount of 28% below prices being paid for comparable non-distressed properties in the same market.
  3. Historically Low Financing Costs - The Fed’s stimulus efforts, such as QE2 (“Quantitative Easing 2”), have resulted in historically low interest rates, making the cost of debt service exceptionally attractive. Qualified real estate investors can take advantage of today’s low interest rates to bolster cash flow and lock in better long-term investment returns.
  4. Inflation Hedge - With many economists predicting that inflation will increase at some point in the future, hard assets, like investment real estate, can provide a hedge against the declining value of money in an inflationary environment. Additionally, ownership of leased real estate can provide an investor with increased income as rent rates also tend to rise in inflationary periods.
  5. Yield - Financial institutions are paying very low yields on money market accounts and other conservative investments. In contrast, many investment properties are generating returns in the 7-9% range, providing considerably better yields than many other competing investments.
  6. Less Competition - Foreign ownership of U.S. investment real estate is increasing. Foreign investors see U.S. real estate as a solid investment in a stable economy, and the lower value of the dollar has made U.S. real estate an even more attractive bargain. These two trends will increase demand, which will drive up prices on certain types of investment property. By buying now, investors can stay ahead of the competition.
  7. Desirable Product Classes - Some classes of investment property are experiencing considerably more demand than supply. For example, in the multi-family segment, demand for rentals has increased as foreclosures have mounted and there is little new multi-family construction in the pipeline to meet such increased demand. As a result, multi-family rents are increasing and many experts project this trend to accelerate.
  8. Worst Price Declines are Over - Property values nationally have declined by 30% or more since the market peak in 2006,. Many economists believe we are at an important pivot point where prices will stabilize and begin to increase (albeit at lower appreciation rates than in the past). If investors wait too long, they may find they are facing competing bids and higher prices to close. Buying before demand picks up in the nearly inevitable recovery locks in today’s bargain prices.
  9. Real Estate is Local - Despite national statistics about real estate prices, most investors are aware that real estate is local and supply/demand and investment returns are determined by local market conditions. Many investors are using 1031 exchanges to exchange out of areas that are not projected to perform well and into areas where the local economy is more robust and investment returns are more favorable.

Posted by Nathan Diones on August 30th, 2011 4:00 PMPost a Comment (1)

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:     nathandiones@gmail.com or 909-709-3781.


Posted by Nathan Diones on August 23rd, 2011 9:55 AMPost a Comment (0)

August 11th, 2011 9:26 AM

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 changes
Many 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 Reallocation
Of 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:

  • Exchanging out of a fully depreciated property into a higher value property in order to increase depreciation deductions.
  • Exchanging from non-income producing land into a positive cash flow single family rental.
  • Exchanging out of property that could not be refinanced (vacant land) and into an tenant occupied property that could be refinanced.
  • Exchanging out of a low or negative cash flow property and into foreclosed single family homes that when rented produce positive cash flow.
  • Exchanging out of property located out of state and into property located near the investor’s home town.
     
    It is true that the real estate market has changed significantly and we can probably expect more unchartered waters ahead.  However, there will always be real estate investors looking to exchange regardless of market conditions.

Posted by Nathan Diones on August 11th, 2011 9:26 AMPost a Comment (0)

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.

http://rim.mlxchange.com/DotNet/Pub/EmailView.aspx?r=865385513&s=RIM&t=RIM

 

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.

 

 


Posted by Nathan Diones on July 15th, 2011 1:34 PMPost a Comment (0)

July 8th, 2011 11:45 AM

Recent Sales:

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.

Docks Wanted:

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. 


Posted by Nathan Diones on July 8th, 2011 11:45 AMPost a Comment (0)

December 29th, 2010 4:36 PM

 

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.


Posted by Nathan Diones on December 29th, 2010 4:36 PMPost a Comment (0)

Home Sales Statistics
for SAN BERNARDINO County CA
Most recent sale date for this county is 12/25/2010
 Single Family Residence
 Period Number of Sales Median Sale Price 
 Oct 2010 2,044 $155,000 
 Oct 2009 2,852 $153,000 
 Sep 2010 2,184 $165,000 
 Sep 2009 2,744 $153,500 
 2010 YTD 25,299 $157,500 
 2009 32,409 $150,000 

 


Posted by Nathan Diones on December 28th, 2010 8:49 PMPost a Comment (0)

December 20th, 2010 8:01 PM

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. 


Posted by Nathan Diones on December 20th, 2010 8:01 PMPost a Comment (0)

December 18th, 2010 2:16 PM

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.


Posted by Nathan Diones on December 18th, 2010 2:16 PMPost a Comment (0)

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.

Address City Gross Income Units GRM Sold Price
713 E State St Redlands $12,000 2 9.4 $112,800
1103 Columbia St Redlands $15,000 2 7.9 $118,000
1012 Herald St Redlands $19,000 2 6.3 $120,000
119 6th St Redlands $16,800 2 8.2 $137,000
10648 Ohio St Loma Linda $16,800 2 9.8 $159,000
11165 San Mateo Dr Loma Linda $17,000 2 9.6 $163,000
25192 Van Leuven St Loma Linda $23,400 3 7.1 $165,000
910 Brockton Ave Redlands $16,000 2 12.5 $200,000
1002 Lombard Dr Redlands $28,000 4 7.3 $205,000
1124 Post St Redlands $26,500 4 8.1 $214,000
1109 Post St Redlands $25,200 3 8.5 $215,000
1106 Post St Redlands $33,600 4 6.7 $225,000
1028 Oxford Dr Redlands $30,200 4 7.6 $230,000
1007 Post St Redlands $33,300 4 7.1 $235,200
209 Judson St Redlands $34,000 4 7.3 $247,000
11234 Ballaire St Loma Linda $19,200 2 13.9 $265,000
25157 Van Leuven St Loma Linda $42,000 4 6.7 $280,000
1140 Tribune St Redlands $36,000 4 7.9 $285,000
24290 Barton Rd Loma Linda $34,500 3 8.7 $300,000
610 E Lugonia Ave Redlands $48,000 4 7.1 $337,000
41 Price St Redlands $53,040 4 6.8 $362,100
4 Price St Redlands $54,412 4 6.9 $375,000
44 Kansas St Redlands $50,800 4 7.3 $385,000
25220 Park Ave Loma Linda $38,400 4 10.3 $395,000
1359 Milburn Ave Redlands $66,000 4 6.9 $455,000
1334 Milburn Ave Redlands $52,163 4 9.1 $470,000
24280 Barton Rd Loma Linda $74,820 6 8.1 $600,000
709 Brookside Redlands $72,000 6 8.3 $600,000
 

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

Nathan Diones

909-709-3781

nathandiones@gmail.com


Posted by Nathan Diones on November 15th, 2010 10:32 PMPost a Comment (1)

Property Address Days on Market Sold Price
415 Cottage Grove 457 $195,000
422 Klamath Dr 14 $183,150
26514 Spyglass 27 $199,500
28142 Grenoble 11 $221,000
26593 Bel Air 69 $230,000
26335 Augusta Dr 110 $205,000
789 Crown Way 21 $226,000
110 Fremont 495 $215,000
27363 Pinewood 33 $235,000
1316 Saint Anton 436 $238,000
248 Maple 48 $240,000
1256 Yukon 209 $238,000
471 Golf Course Way 271 $225,000
1321 Saint Anton 15 $245,000
27944 Matterhorn Dr 127 $255,000
1054 Sandalwood 84 $275,000
1119 Brentwood Dr 127 $322,500
279 Old Toll Rd 118 $329,000
27623 Saint Bernard 76 $320,000
28595 Wabash 400 $372,500
268 Bret Harte 127 $420,000
1495 Yosemite Dr 77 $455,000
27981 West Shore Rd 170 $499,000
456 Golf Course Rd 246 $425,000
907 Breithorn 104 $510,000
207 Fairway 538 $520,000
254 Cedar Ridge Dr 176 $705,000
27547 Meadow Bay Dr 173 $739,000
915 Shelter Ridge Ln 174 $725,000
367 Cedar Ridge Dr 76 $1,150,000
373 Redtail Hawk 113 $1,300,000
27955 Peninsula Dr 537 $2,500,000

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.  

Enjoy!

Thanks for reading.

www.LiveLakeArrowhead.com

Lake Arrowhead Real Estate and Dock Sales

Nathan Diones (909) 709-3781


Posted by Nathan Diones on November 12th, 2010 3:15 PMPost a Comment (0)

Lake Arrowhead, CA Market Facts For 2010

Courtesy of www.LiveLakeArrowhead.com and the local MLS

 


Posted by Nathan Diones on October 28th, 2010 2:40 PMPost a Comment (0)

October 15th, 2010 11:46 AM

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:

www.LiveLakeArrowhead.com/Docks

Enjoy!

Thanks for reading.

www.LiveLakeArrowhead.com

Lake Arrowhead Real Estate and Dock Sales

Nathan Diones (909) 709-3781

 


Posted by Nathan Diones on October 15th, 2010 11:46 AMPost a Comment (0)