Knowing Your Options
If you are trying to avoid a foreclosure and need help in determining your options from the comfort of your own home, here's a site for you.
Fannie Mae is sponsoring knwoyouroptions.com. It is a step-by-step instruction on how to prepare for a conversation with your lender as well as learning what the positive and negative outcomes are going to be based on the choices you make.
Check it out at www.knowyouroptions.com.
WHY USE AN “ATTORNEY DRIVEN” BROKERAGE
COMPANY
The
purchase and/or sale of a home is generally the most significant financial
transaction most of us will ever be involved in. As you may already know, the amount of
paperwork is very extensive and involves many legally complicated forms that
you will need to understand. Unless you
have legal help, your dream house can quickly become a nightmare.
An
“attorney driven” brokerage company simply means that the company is owned and
operated by a
If you
want to learn more, please call us.
Posted at 11:47AM Sep 15, 2011 by Lara Boyko in General | Comments[0]
Price Reduction!
The sun is finally peaking out and it looks like it is going to be a great day to look at property. If you are looking in the Lakewood area, we've got a cute three bedroom, two bathroom single family home for your consideration.
It is located on a nice quiet residential street, comes with GORGEOUS hardwood floors, kitchen and bathrooms have been updated, huge backyard with a lemon tree and nice sized bedrooms.
We are not holding it open today, but happy to set up private showings.
WHY USE AN “ATTORNEY DRIVEN” BROKERAGE
COMPANY
The
purchase and/or sale of a home is generally the most significant financial
transaction most of us will ever be involved in. As you may already know, the amount of
paperwork is very extensive and involves many legally complicated forms that
you will need to understand. Unless you
have legal help, your dream house can quickly become a nightmare.
An
“attorney driven” brokerage company simply means that the company is owned and
operated by a
If you
want to learn more, please call us.
Posted at 11:55AM Aug 07, 2011 by Lara Boyko in General | Comments[0]
We Are Open!
The weekend is almost here and you are hopefully thinking about which open houses to attend this weekend. If you are looking for a completely remodeled house with at least four bedrooms and two bathrooms on one level and in a school district where 16 out of 18 of the schools have received five stars, then we have the property for you! Our listing at 28722 Lomo Dr. in Rancho Palos Verdes will be open from 1-5. It is a great short sale property that has a pre-approved purchase price. Hope to see you there! WHY USE AN “ATTORNEY ASSISTED”
BROKERAGE COMPANY The
purchase and/or sale of a home is generally the most significant financial
transaction most of us will ever be involved in. As you may already know, the amount of
paperwork is very extensive and involves many legally complicated forms that
you will need to understand. Unless you
have legal help, your dream house can quickly become a nightmare. An
“attorney assisted” brokerage company simply means that the company is owned
and operated by a If you
want to learn more, please call us or come visit us at our office at
Posted at 10:14AM Jul 22, 2011 by Lara Boyko in Real Estate | Comments[0]
The One Not Taken
There are properties out there that are the total package.
They are well maintained, in a good area that is close to shopping, schools, major freeways and businesses. Best of all, they are at a great price.
Yet for some reason or another, they don't have an offer on them.
When a property doesn't have an offer on it, buyers will tend to think one thing: What is wrong with the property?
To some degree, I agree with this. After all, there may be something about the property (location, extent of repairs that need to be made, etc.) that has not agreed with the prospective buyers that have seen the property to date. On the other hand, I also look at these properties as a great opportunity.
These properties are a great opportunity because when the right person who is creative and can see the potential of a property, they will jump on it and write an offer.
So when you look at a property please consider not just its current state, but also what you could make it look like in the future. Otherwise, a great opportunity could pass you by.
WHY USE AN “ATTORNEY DRIVEN” BROKERAGE
COMPANY
The
purchase and/or sale of a home is generally the most significant financial
transaction most of us will ever be involved in. As you may already know, the amount of
paperwork is very extensive and involves many legally complicated forms that
you will need to understand. Unless you
have legal help, your dream house can quickly become a nightmare.
An
“attorney driven” brokerage company simply means that the company is owned and
operated by a
If you
want to learn more, please call us.
Posted at 10:09AM Jul 19, 2011 by Lara Boyko in General | Comments[0]
Silver Linnings With The Dodgers
The Los Angeles Dodgers have been making headlines for all of the wrong reasons this year. The media infused and messy divorce of the McCourt's, a disgusting and unnecessary beating of a fan and asubsequent bankruptcy filing of Frank McCourt have tarnished a team that once had a golden reputation.
Yet with every dark cloud that the McCourt's continue to cast over Chavez Ravine and Major League Baseball, there are still silver linnings that make anyone who is a Dodger fan hold their heads high. One of those silver linnings is shinning through in the LA Times today.
Steve Lopez is not a regular sportswriter for the Times, but today his story on Ronnie Nelson, reminds us of a nice human element to the business of baseball that is lost in the scandalous headlines.
WHY USE AN “ATTORNEY ASSISTED”
BROKERAGE COMPANY
The
purchase and/or sale of a home is generally the most significant financial
transaction most of us will ever be involved in. As you may already know, the amount of
paperwork is very extensive and involves many legally complicated forms that
you will need to understand. Unless you
have legal help, your dream house can quickly become a nightmare.
An
“attorney assisted” brokerage company simply means that the company is owned
and operated by a
If you
want to learn more, please call us or come visit us at our office at
Posted at 09:56AM Jul 13, 2011 by Lara Boyko in General | Comments[0]
Forget Carmageddon, Enjoy A Free Concert!
We are days away from experiencing Carmageddon here in LA this weekend, but if you are looking for something to do in the South Bay that does not require the use of the 405, here is something to consider.
The city of Gardena is holding a free outdoor concert and ice cream social on July 16. Here is the link to the story in the Daily Breeze for more information.
WHY USE AN “ATTORNEY ASSISTED”
BROKERAGE COMPANY
The
purchase and/or sale of a home is generally the most significant financial
transaction most of us will ever be involved in. As you may already know, the amount of
paperwork is very extensive and involves many legally complicated forms that
you will need to understand. Unless you
have legal help, your dream house can quickly become a nightmare.
An
“attorney assisted” brokerage company simply means that the company is owned
and operated by a
If you
want to learn more, please call us or come visit us at our office at
Posted at 10:16AM Jul 12, 2011 by Lara Boyko in General | Comments[0]
Say NO to Expired Medications
Remember that cold you had five years ago and the awesome cough syrup your doctor gave you to help you sleep?
Or, do you remember when you decided to try supplimenting your diet with vitamins and minerals?
If you do, then you probably still have some bottles full of these now expired medications and vitamins and have no idea what to do with them.
Your first thought may be to flush them down the toilet or wash them down a sink, yet that is actually REALLY bad for the environment. Instead of polluting the water table, there is a program with some of the local sherrif's stations that can help out.
No Drugs Down The Drain is a great program where you can drop off your unused and expired medications and they will be properly disposed of.
Here is a link to the local locations of this program: http://www.sbesc.com/programs/residential/no-drugs-down-the-drain
WHY USE AN “ATTORNEY ASSISTED”
BROKERAGE COMPANY
The
purchase and/or sale of a home is generally the most significant financial
transaction most of us will ever be involved in. As you may already know, the amount of
paperwork is very extensive and involves many legally complicated forms that
you will need to understand. Unless you
have legal help, your dream house can quickly become a nightmare.
An
“attorney assisted” brokerage company simply means that the company is owned
and operated by a
If you
want to learn more, please call us or come visit us at our office at
Posted at 10:41AM Jul 08, 2011 by Lara Boyko in General | Comments[0]
Take a Swim In the River Pool
Usually when people talk about rivers, the word 'pool' is typically not part of the conversation.
This may all change in a couple of years thanks to a bunch of engineers and even more creativity, next year in New York City, taking a dip in a river may also include taking a dip in a pool.
Check out this link: http://www.pluspool.org/
If this pool concept does take float next summer, it will take riparian rights to a whole new level.
WHY USE AN “ATTORNEY ASSISTED”
BROKERAGE COMPANY
The
purchase and/or sale of a home is generally the most significant financial
transaction most of us will ever be involved in. As you may already know, the amount of
paperwork is very extensive and involves many legally complicated forms that
you will need to understand. Unless you
have legal help, your dream house can quickly become a nightmare.
An
“attorney assisted” brokerage company simply means that the company is owned
and operated by a
If you
want to learn more, please call us or come visit us at our office at
Posted at 09:03AM Jul 08, 2011 by Lara Boyko in General | Comments[0]
Farming The Market
One of the reasons why I love the summer is all of the fresh fruits and produce that are available. What makes the purchasing process of these tasty items even more fun is when you can find them at a famer's market.
We are very lucky where just about every city in the South Bay has at least one Farmers Market set up each week. In Hermosa Beach, Friday is the day where you can find scrumptious foods to make healthy meals with. The Hermosa Farmers Market is located at Valley Drive and 11th Street from 12 noon to 4pm.
Farmers Market Friday also takes place in Redondo Beach in in Riviera Village from 3 pm to 7 pm.
Torrance residents have two Farmers Market days each week. First on Tuesday and then on Saturday morning. Both are held at the parking lot of Wilson Park.
Manhattan Beach has their Farmers Market on Tuesdays from 11-5 at 13th St. & Morningside Drive.
Some of these Farmers Markets will have organic foods, hot foods and you may even see a gourmet food truck there as well.
WHY USE AN “ATTORNEY ASSISTED”
BROKERAGE COMPANY
The
purchase and/or sale of a home is generally the most significant financial
transaction most of us will ever be involved in. As you may already know, the amount of
paperwork is very extensive and involves many legally complicated forms that
you will need to understand. Unless you
have legal help, your dream house can quickly become a nightmare.
An
“attorney assisted” brokerage company simply means that the company is owned
and operated by a
If you
want to learn more, please call us or come visit us at our office at
Posted at 03:19PM Jul 07, 2011 by Lara Boyko in General | Comments[0]
Let the Fireworks Begin!
We are just days away from enjoying a long Fourth of July weekend and if you don't have plans for where to watch, here is a link to a site of firework shows in LA County:
http://www.safejuly4th.org/fw/fwshows.htm
Posted at 10:26AM Jun 29, 2011 by Lara Boyko in General | Comments[0]
Teamwork Makes Things Work
Kobe Bryant is an amazing player on the Los Angeles Lakers, yet he did not win LA's NBA championships on his own.
The Boston Bruins did not just win the Stanley Cup because of the effort of one person.
The Dallas Mavericks did not just win the NBA playoffs because Mark Cuban is a great owner.
Instead, all of the above situations took place because it was the effort of an entire team that made everything turn out positive.
I played sports while growing up, so I have the same approach to my business -- teamwork makes things work.
Even though in a real estate transaction you will spend the majority of the time working with just one agent, great agents use the resources of a whole team to make it all come together. From working with a great lender, escrow officer and title officer, a buyer or seller should never feel like they are along when working through their transaction.
If you are a distressed home seller, then the team approach is even more important. Having a good team is important because unlike a standard sale where the seller will receive money out of the transaction, in a short sale there are legal and tax implications that you need to ask about to make sure there are no surprises on the closing day.
To help avoid any surprises, I provide clients with resources to real estate attorneys, tax advisors and other resources to make sure that a seller is not going through the process alone.
Superstars are fun to watch, but at the end of the day the process is much easier because it was an entire team effort.
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Posted at 10:42AM Jun 16, 2011 by Lara Boyko in General | Comments[0]
Money in the Mail
There is an old saying that 'The Check Is In The Mail.'
If you have your first mortgage with Chase/Wamu, the check is not necessarily in the mail, but you may have an offer for some cold hard cash coming to your mail box.
Chase is sending out offer letters
regarding a new in-house incentive program for homeowners like yourself who are
behind in their payments and thinking about getting a fresh start by short
selling their home.
At first this letter from
Chase may appear to be too good to be true. However, as a REALTOR® who has
experience with short selling properties with this program, I can tell you it
is legitimate offer and the money is real.
This is NOT the Home
Avoidance Foreclosure Alternative (HAFA) program. However, it is a separate
program that Chase is offering. In fact, you may qualify for both the Chase
program and HAFA.
As a Certified Distressed
Property Expert, I have successfully closed complex short sales and can provide
you with resources such as a real estate attorney, tax advisor and neutral
escrow services to help you feel like you are not going through this experience
alone.
For more information about
the Chase program and how a team of experts can help you understand your
options, please give me a call.
Posted at 03:40PM Jun 14, 2011 by Lara Boyko in General | Comments[0]
Repairs in a Short Sale? YIKES!
The escrow process is both an exciting and nervous time for the buyer and seller in a transaction. One of the more nervous times of the escrow process is when it is discovered that repair work needs to be done.
This is a nervous time of the transaction as both the seller and buyer may not have the money to make the repairs. When this happens, what happens?
At this point in the transaction the buyer needs to submit a request for repairs through their agent. The buyer's agent will then send it to the seller's agent. The selling (or listing agent) will then send it to the lender in hopes of getting some assistance.
Typically in a short sale the lender and/or investor will not make the requested repairs. This is because the investor is already taking a loss on the property and doesn't want to lose any more money. Also, short sales are 'As-Is' transactions. This means that the property is purchased in its current condition.
While the 'typical' situation above is true, I am seeing first hand that the 'typical' is becoming unusual. With two of my active short sales we have not only requested assistance from the lender for repair work to be done, but had the request approved. Keep in mind that each short sale is unique and the lender and/or investor is not responsible in any way for making repairs. However, banks are starting to approve the repairs so they can get rid of the property quickly.
For more details, please give me a call or send me an email.
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Posted at 11:24AM Jun 08, 2011 by Lara Boyko in General | Comments[0]
What Do I Say?
For anyone who has stepped into the dating pool and taken a risk to fall in love, it is that initial period of getting to know someone that is the most awkward part of the relationship. After all, both parties want to remain somewhat mysterious and exciting, yet they also want to share personal details that will help that other person become even more attracted to them.
For the seller of a short sale or standard sale property, selling a home is very similar to that initial stage of starting a relationship -- it might be awkward and you don't know what to say. The awkward period of time comes either when making the decision to sell a home as there may be an emotional tie to the property or when an offer has been received and escrow has been opened. Then there is the other part of this budding relationship -- what to disclose.
In real estate transactions, sellers must disclose material facts of the property. This includes knowing that the roof has a leak, there are problems with the plumbing and most importantly, if someone has passed away on the property. The easiest way to think about what a seller should disclose during a transaction is to put yourself in the buyer's shoes and think about what you would want to know about the property if you were buying it. For instance, is it important to know that a non-permitted addition was made to the property? Most definitely! Is it important to know that the seller's kids spilled grape juice on carpet that has been replaced? Probably not.
At the end of the day though, it is much better to disclose the material facts of a property than hold back.
What I see as the advantage of the real estate relationship over the dating relationship is that even if you do disclose something that might be a bit scary, a buyer may look beyond what you have told them and continue to purchase the property. Whereas in dating, well, you may not get a second date.
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Posted at 09:43AM Jun 08, 2011 by Lara Boyko in General | Comments[0]
Forecloure: It's A Process
I was assembling a new set of drawers for my office today and at times got frustrated. After all, the instruction manual was not the greatest and while I appreciated the visual aids in the instruction book like the next person, all of the screws started to look the same after a while.
Putting two drawers on wheels took about five hours to put together. Definitely not a personal record or a land speed record, but while I was sitting on the floor of my office getting upset over silly screws, nuts and all of those other parts, it made me think about the foreclosure process that so many people are dealing with today.
Foreclosure is not a bad 11-letter word. Instead it is a process that the banks put homeowners through when the homeowner is delinquent on their mortgage. This process is definitely not personal. Instead, it is business decision lenders make because they need to make sure they are covering their bottom line and protecting their investors.
The foreclosure process starts some time after a borrower falls behind in their payments. Depending on the lender, after a certain length of time in which a borrower is behind in their payments a notice called a Notice of Default will be sent out to the troubled homeowner.
This Notice of Default (NOD) appears scary at first. The bank not only sends multiple copies through regular mail, but they also send a copy or two (or more) via certified mail to make sure the borrower receives it. Sure, the NOD is sent out in a squarish envelope that is much bigger than your typical #11 sized envelope and appears scary at first. Yet I have never heard of or seen anyone who has received this NOD contract a life-threatening disease or become subject to a public flogging. Instead, this is just a method of communication for the bank to let the borrower know that they need to start making some decisions about their property.
As of today, June 7, 2011, receipt of this NOD is the beginning of a 111 day process in which the borrower has to either bring their account current, sell their property or file a bankruptcy to save the property. The 111 days breaks down as follows:
NOD = 90 days
Notice of Trustee's Sale (NOTS) = 21 days
If after the 90 days of the NOD period the borrower has not reinstated their account by paying back the arrears, then the bank will mail out the NOTS. This also will appear scary at first as the bank will send out many copies and also send out a few copies via certified mail. Once again these words look intimidating as this is the bank's way of communicating to their borrower that if they do not bring their account current soon, well, then they are going to sell the property at a Trustee's Sale and the borrower will no longer own the property.
There are more details and nuances about this process that I can explain if you contact me or I can refer you to a real estate attorney who can provide legal advice, but the bottom line is that initiating the foreclosure process is a business decision from the bank and not a personal attack.
Don't get me wrong. I am not an attorney and do not work for a bank. Instead at times I will curse at banks openly because they can be frustrating to work with. Yet just like going through the instruction manual today for my drawers, once you know how the process works, it is not nearly as intimidating as you first think.
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Posted at 03:51PM Jun 07, 2011 by Lara Boyko in General | Comments[0]
