About

The real estate industry is evolving at such a fast pace it is even difficult for real estate professionals to keep up. Throw in the fact that there is an epidemic of bad advice and false expertise being taunted around town and you have a very serious problem. Currently, whether it is Huntington Beach or anywhere else in Orange County or Los Angeles County real estate can be broken down into the three obvious categories; Shortsales, REO's, and Standard Sales. Each one requires a very different approach, navagation and execution to be successful. Here is a synopsis of our approach to each one and the benefits to our clients:

Short Sales:

Ahhh, the dreaded short sale. 6 to 12 months of Purgatory for both the buyer and the seller. Unknown tax ramifications (state and/or federal), future fraud charges? (remember that stated income that was way over-inflated?), recourse deficiencies (even though the HELOC was purchase money did you ever use any of the available line for personal use?) What we offer is a honest guided approach. Distressed homeowners have been hounded by the banks, stressed out and depressed at the thought of losing their home, and often times embarrassed about what the community, family, and friends might think. The last thing they need is misinformation and hollow promises. We do not practice law, nor are we CPA's........so we will not be the only people you will have to work with. However, we can provide information, websites (such as the ones in our "communities" link), and referrals to try and make the process a little easier. We have also recently hired a seasoned short sale advisor to aid with current information on various banks to offer better timelines and success rates.   We know, in most cases, a short sale is not a seller's first choice.  As a result, we do everything we can to make the process as painless as possible for the Seller.  Often times that means a very aggressive showing schedule and marketing campaign for a very short amount of time.  Our last two short sales have sold in a combined marketing time of just 28 days!

UPDATE:  The new HAFA (Home Affordability Foreclosure Alternatives) program has finally begun to be implimented at some of the banks.  What does this mean to you?  Faster turn times, pre-approvals, and cash for keys to the sellers.  It is still a work in progress, but this is great news for anyone looking into a short sale in Huntington Beach.  Call us for more details as each bank has a little different implementation of the HAFA program.  By the way, I am now recognized by the National Association of Realtors as a SFR (Short Sale and Foreclosure Resource) so don't hesitate to call us...

REO's:

Definitely the best deals in town right? You should get into the bidding war and not look back right? Wrong. There are some great deals with Bank owned properties, but there are also some real lemons. Not only that, but everyone is under the impression that they are going to recieve a 20% discount right off the bat for purchasing one of these properties. These days in Orange County and Los Angeles County, with limited inventory available, that is entirely not true. Also, take into consideration that many of these properties have been vacant for months.....sometimes years, there is a deferred maintenance factor that is foolish to ignore. Factor in a new roof, paint, and termite repairs and sometimes it turns out you paid a premium for your REO property. Our approach with REO's is simple. If we are the listing agent; provide as much information on the MLS as possible to attract buyer's that are in a true position to buy the property. For example, A first time homebuyer scraping together a 10% down payment should not be lured over to see a property that has no flooring, water heater, kitchen cabinets, or appliances. We take the same approach on valuing our client's time when we are the buyer's agent. When looking at a property we try to tally up a list of repairs. I have a background in, and a good amount of colleagues and friends in, various aspects of construction and try to pass on as much knowledge as possible to the homebuyer. Afterall, there is no reason to waste your time or money going through writing an offer and doing an inspection, just to find out that there was no electrical panel on the house. These are things that you need to establish BEFORE writing an offer and considered in the true value of the property.

Standard Sales:

Oddly enough, probably the most important of the three, when it comes to knowledge of the market, trends and laws/regulations. Sticking a sign out front, and putting in a partial listing on the MLS just doesn't do it these days. Plus, for the record, dropping your price should not be a marketing technique. That is a sign that your agent misrepresented the price from the beginning, you were too stubborn to listen, or your agent is not actively working to bring in offers through every medium possible. When it comes to standard sales there is a large variance in price. Many people are still living in the past (with regard to price), and others are trying to "sell" people on the fact that they upgraded to granite countertops and should receive a 20K bump. Our approach to this is also very simple. Market value. Unless they are unihabitable, dilapidated or have some other quirk that make them unavailable for financing than an REO and short sale are both comparables to your property. I know they are not as nice as your house, but that is the market we are in. An appraiser will not ignore them and thus, you will not be able to either. Are there adjustments to be made.......sure. But that does not mean you get dollar for dollar on your gold toilet seat. This is a active market because of low inventory, but it is still not a seller's market where you get a premium for upgrades. On average a traditional sale is going to go about 5-10% higher than a distressed sale and should be priced accordingly. The longer it sits on the market and the more price reductions, the more buyers see desperation and "games" and the less chance you have of receiving a full price, qualified offer. Pricing is everything.....

Please call us if we can be of assistance:

Jason Kiffe

Broker/Owner

cell: 949-293-9959

428 Main St  #207

Huntington Beach, CA  92648