One of San Diego’s most AMAZING events of 2010, Inspire San Diego!
Posted by Sean Zanganeh | Leave A Comment »
Have you purchased your ticket for Inspire San Diego??
Be apart of one of the most incredible events in San Diego for 2010!
Take a look at this exciting update from Eileen Schwartz!
Tickets can be purchased @ www.inspiresandiego.org
“Turn your obstacles into Opportunities..”
Sean Zanganeh
Related Posts: Activities & Events
Quick Tips from Brian Olenik
Posted by Brian Olenik | Leave A Comment »
QUICK TIPS
WHAT IS TITLE INSURANCE?
The title insurance policy protects the insured against actual
loss, including any costs, attorney’s fees and expenses provided
under the policy, resulting from the Covered Risks set forth in
the policy. A real estate owner or lender might experience a
loss due to liens, encumbrances, or defects in the title to said
property (or the incorrectness of the related title search).
3 KEY POINTS TO REMEMBER:
1) The Title insurer not only guarantees clear title, but it promises
to defend the purchaser’s title in the event there is a problem
with the title, and to compensate the insured (purchaser or
lender) up to the amount of liability on the policy.
2) Legal Fees? The title insurance policy contains provisions for
the payment of legal fees and court costs in defense of a title
claim against the subject property (provided it is covered under
your policy).
3) And the last important point . . .
The title insurance policy contains provisions for payment of
losses which result from a covered claim.
Thank you for making Brian Olenik &
Corinthian Title Company part of your closing team!
For More Details Visit: www.BrianOlenik.com
BRIAN OLENIK
858.776.7683
BRIAN.OLENIK@CORINTHIANTITLE.COM
Related Posts: Real Estate News
Bernardo Heights, a wonderful neighborhood in the San Diego City community of Rancho Bernardo
Posted by Tesha Buchan | Leave A Comment »
Bernardo Heights, a wonderful neighborhood in the San Diego City community of Rancho Bernardo
As we went for our early morning walk along Bernardo Heights Parkway Friday morning, Linda and I really started talking about what an exceptional place Bernardo Heights really is. Bernardo Heights offers so much to it’s residents…the Bernardo Heights Community Center, Paseo Lucido Park, swimming pools, tennis courts, walking trails, beautiful vistas…I could go on and on. Bernardo Heights was carefully designed and built in the 1980s and offers a number of uniquely different types of housing. There are apartments for rent as well as areas like the gated community of Fairway Pointe which offers custom built homes 2,500 to over 4,000 square feet. Condominium projects such as Mira La Paz, The Greens, Las Brisas, Las Floras, Masters Hill and Fairway Vistas offer homes with golf course views, one or two car garages, sparkling pools, and good neighbors. The gated area of Los Rios/The Village is an extraordinary area with a character of its own. Bernardo Heights is close to the newly renovated I-15 freeway and is twenty-five minutes from downtown San Diego and twenty minutes to the beach. Within a few minutes from the heart of Bernardo Heights one can find shopping areas, medical services, great restaurants, grocery stores, golf courses, and various recreational areas. And, of course, the weather is the best. But, nothing beats that early morning walk along the Parkway saying “Hi” to old friends, gazing at the beautiful vistas to the North and East and experiencing the hopeful sunrise of a new day.
Come and join us for a walk!
Steven Campbell
Related Posts: Activities & Events, Agent Services, Area Information, Buyers, Condos & Townhomes, Find A Home, Golf, Great Real Estate Deals, Homeowners, Homeowners Associations, Just for Fun, Lifestyle, Rancho Bernardo, Real Estate News, San Diego, Uncategorized, Windermere, Windermere Agents
The Campbell Group Voted As One Of 2008 & 2009 Best In Client Satisfaction!
Posted by Tesha Buchan | Currently 2 Comments »
- Successfully Helped Hundreds of San Diego Clients Achieve Their Real Estate Dreams
- Personalized Service Provided for Every Customer
- First Class Real Estate Service that is Passionate and Thorough
- Excellent Listening, Negotiating and Problem Solving Skills
- Building Strong Lasting Lifelong Relationships
The Campbell Group has successfully helped hundreds of people in San Diego meet their Real Estate goals since 1987. Working hard over the years building a vast knowledge and expertise in the real estate business has enabled them to serve a client base ranging from the first time home buyer to the experienced executive.
Linda Campbell has demonstrated that for every obstacle there is a solution. Real estate is a relationship business and Linda is an expert taking care of her clients. Tesha Buchan brings to the Campbell Group an excellent background in escrow and management. Tesha passionately focuses on serving the best interest of her clients. Along with obtaining his brokers license Steven Campbell’s strong negotiating skills, knowledge of different market areas and business background serves him well with his clients.
The Campbell’s feel that successful Real Estate transactions require clear and consistent communications. They listen, they communicate and they take action. They demonstrate that great deals can be found, but even better deals are carefully negotiated!
Steven & Linda Campbell, Tesha Buchan * Windermere Exclusive Properties
16890 Bernardo Center Drive * San Diego, CA. 92128
619-972-1552 * 858-521-7258 * 858-521-7289
Related Posts: Agent Services, Awards and Recognitions, Buyers, Great Real Estate Deals, Just for Fun, Motivational, Rancho Bernardo, Real Estate News, San Diego, Windermere, Windermere Agents, Windermere Offices, WindermereSanDiego.com
Rancho Bernardo Realtor: My views when a buyer asks for a commission kickback…
Posted by Gretchen Pagnotta | Currently 2 Comments »
I have been selling real estate for over 20 years. There are times when buyers have asked me to contribute to their purchase. This happened recently and I decided it would be a good blog topic. I would really appreciate feedback from both agents and clients. At the crux of the matter is the belief that real estate agents earn far more than they should. Because they earn a zillion dollars a year they should give some of it back to the client. This leads to the discussion of “what do real estate agents really do”? To expand this discussion we need to discuss “What is the VALUE of a real agent agent?”
The advent of the Internet and the ability for people to search homes has altered the perception of the need for an agent. When I started to sell real estate in San Diego we received books every Friday with new listings. It was a treasure and not to be shared with our clients. We were the keepers of the homes for sale.We had them under lock and key. Clients had to rely on our books and us! Now the general public can search many websites for current listings. So what is the VALUE of a real estate agent in today’s world besides unlocking the lock box and allowing a showing?
Buyers should interview real estate agents in the same way that a seller interviews prospective listing agents. Some of the questions they need to ask will reveal if an agent has a value to them. Just like other professions there are skilled and professional agents as well as those that should be seeking other avenues of employment! The education and background of an agent is critical. In addition it is imperative that the agent is a member of the National Association of Realtors as well as a local Board that sets standards and upholds ethical practices for agents. Various designations are a sign of continued training and expertise in particular areas of practice. For example, I am a CRS (Certified Realtor Specialist) which required me to take extensive training and selling a considerable number of homes to qualify. It is the elite designation for serious agents who want to stay on the cutting edge of real estate. In addition I hold 5 other designations including the new NAR Green Certified agent. This year I plan to complete an International Realtor designation. When interviewing an agent a buyer needs to explore these areas to determine if their agent is qualified to guide them in making one of the largest financial decisions in their life.
Why is education and experience so critical and of value to a buyer? Contracts are complex and negotiation is a skill and an art refined by experience, intelligence and training. A buyer wants to pay the least for a home. After a Home Inspection a buyer wants everything fixed at the expense of a seller. A buyer does not want any confrontation with the seller. So, how does one determine the market price they should offer on a home ? It is imperative the agent be familiar with the neighborhoods they serve so their knowledge of comparative sales is more comprehensive than merely looking at a list of homes that have closed escrow. Since the general public has access to sales figures many people are “walking real estate experts.” However the lists need clarification and research. Many times the homes, especially the short sales or bank owned that sell are in distressed conditions; missing appliances, yards needing re landscaping, light fixtures missing, etc.. If the agent had not seen the home a call to the former listing agent would help in determining the condition which influences the sale price. A “good” agent limits their sales to a particular area so they have “ intimate knowledge” of the communities. I review hot sheets on a daily basis to note new listings, pending sales and closings in the areas I work most often (92127,92128,92064, 92131, 92130). If I have a client looking in additional areas such as Carlsbad, San Marcos, Encinitas, downtown San Diego (condos) or Escondido I search those areas and in addition spend at least one day previewing properties and talking with listing agents. Many discount brokers state they work the entire county. It would be impossible to be a specialist in all of San Diego County! Once a fair price is determined and a contract is carefully constructed the art of negotiating begins.
Agents like to network with their office and with agents they have done business with in the past. There is a comfort zone for agents who have a history together; they trust one another. Therefore when offers are submitted agents can be selective as to who they prefer to work with and communicate this to their sellers. This is espcially true with multiple offers. In addition it has been my experience when working with several discount brokers they expect me to do their work! They are not present for inspections and getting required paperwork takes supreme effort. So if a listing agent has the choice of working with various agents they may tip the scales to the agent they have had a previous “good” experience with. In my opinion it is part of an agents commitment and responsibility to their client to be present at every inspection and walk through. How can an agent clearly communicate a defect that is discovered in a Physical Inspection if they are not present to view it, discuss the importance with the inspector and council the buyer? Also how can you advise the client if they need further inspections? The other significant point when discussing inspections is who an agent recommends and what trades people they encourage the buyer to consider. We routinely recommend roof, termite,septic, soil, pool, geological, mold, HVAC, electrical and plumbing inspections depending on certain factors we identify in the property. We also prepare for an try to meet the appraiser whenever possible.
Once a home is inspected a second round of negotiation begins. Remember the buyer who want the best price and wants the seller to fix any issues found in the inspection? If a contract is carefully drafted some of these issues may have already been addressed. One of the homes I sold this year had extensive termite damage to the fences. The fences were not falling down but during my visual inspection while showing the home I noticed some telltale signs there might be termite issues. I stipulated fences as part of my termite request in my contract and the seller was obligated to correct over $2500 worth of damage. We had another home that was on septic but failed the septic inspection despite not having a noticble issues while occupied. The recommendation was to connect to the city sewer system. This process involved multiple bids, many trips to the city and supervision of the work. It closed in 30 days and the fees were split between parties; happy buyer and seller! My husband spent part of each day working with the contractors and the city until it closed. A solid working relationship with an experienced agent and the buyer can make the “Request for Repairs” a positive and successful negotiation. Many times a cash credit to the buyer in lieu of the seller making repairs especially in a short escrow is a great way to solve various issues.
This topic would not be complete without an explation of how agents get paid. Most homes are listed with a commission of 5-6% Let’s use the 5% figure; 2.5 to the listing agent and 2.5% to the selling agent (person who brings the buyer). Commissions are negotiable and I am using this figure simply to explain the breakdown. A portion of what the selling agent earns of the 2.5% goes to their employing broker. In our case a portion we earn on every transaction goes to my broker, Windermere. If we wanted to receive the entire amount we would be” Pagnotta and Associates” and work under my husband’s brokers license. We elect to work for another broker as we want to spend all our time and energy selling and not running an office! The other expenses we have include a licensed assistant to handle transaction paperwork so our files meet legal requirements. This is especially important if there is ever future litigation involving the client. Not only is this critical to us it is to our clients! In addition our expenses include auto, insurance, gas, meals, supplies, dues, lockbox keys, internet and web and our t-i-m-e! ’
We also find many buyers wanting to work with the lisiting agents as they feel they will get a “better deal.” Many listing agents discount a commission to the seller if they bring the buyer. The savings is normally only 1-2%. Instead of charging the seller 5-6% they offer 4–5% if they bring the buyer. The agents acts in what is termed a “Dual Agency.” This brings a great burden to the agent. In simple terms how can an agent represent the best interests (getting the best price and terms) for the seller as well as the buyer? A buyer will save far more than 1-2% of the sales price by using a regular buyers agent. Also with short sales or bank owned the agent (and lender) are looking for one thing; price and terms..there is no preference for dual agency!
Hopefully this blog has stimulated some thinking. Do we ever discount our commission? Yes, on multiple sales, repeat business, luxury sales and in other situations we work with our clients on a per situation transaction. When a buyer initiates this as part of their first contact we us we set up a meeting with them and review what our commitment will be and do a full assessment of their needs. We are actually using Buyer Broker Contracts as a routine practice. We are hoping the standard practice in the future will be a buyer interviewing an agent just as sellers have done and establishing working commitments between both parties. A professional agent will save a buyer far more in the sale of a home with a correctly written and comprehensive contract than any commssion rebate!
Readers..share your ideas with me..respond to my email!!!
Watch for my future blog on The Importance of a Buyer-Broker Agreement!
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