Real Estate by the Seashore

Confessions of a Squid

Shell Pavlis — Sat, 23 May 2009 16:59:38 +0000

I’m the new motorcyclist…a Squid. Last year, I hit the Social Media world with barely enough experience to keep myself upright. I dove right in on a powerful machine that can open up new worlds, and at the same time make me a danger to myself and others. I loved the idea of expressing myself in this new manner. The opportunity to share my insight into Real Estate, while also combining my career with one of my first loves – Writing. Inexperienced, unprepared, full throttle at every curve, I immersed myself: created this new blog, joined Facebook, enrolled in Web 2.0 seminars, tweeted all hours of the night. And then I crashed.

Slowly fading, ink colored oil slick on the pavement, my last blog article was ages ago. I wrote a few posts here and there but didn’t publish them. I stuck with Twitter and Facebook, but just couldn’t seem to commit to my blog. Why would anyone want to read what I have to say? I’m sure almost every blogger has gone through this at some point, but it’s me now. And then it hit me. What everyone had been telling me. What all the bloggers IRL tweetups said, what the SM consultants said. Don’t worry about it. Just write for you.

So, without carrying the analogy too far, I’m back on the bike. Taking it slowly. Enjoying the fresh air in my face, and smelling the flowers. I’m no longer the Squirrely Kid, or Stupidly Quick, Underdressed, Imminently Dead. After all, when have words killed?

First Time Homebuyer Credit Form 5405

Shell Pavlis — Fri, 06 Mar 2009 06:44:41 +0000

We’re starting to be able to put tangible proof of the Stimulus Package in our hands. As part of the Tax Provisions in the American Recovery and Reinvestment Act of 2009, the First Time Homebuyer Credit has been extended until December 1, 2009, and unlike the credit for a purchase in 2008, the credit for a qualified purchase in 2009 does not have to be paid back, and is a ‘true’ credit. Here is the IRS website with detailed info on the credit, and the actual form 5405. My disclaimer: As always, please contact your Tax Advisor for specific answers to any questions you may have regarding the Credit Form and its use.

Easy Eastside Costa Mesa Shortsale $615,000

Shell Pavlis — Mon, 02 Mar 2009 04:45:00 +0000

Top of the line complete remodeled 3 bedroom 2 full baths home, pergo floors and travertine baths and kitchen, open floorplan, dining room, living room, family room, gourmet kitchen with Granite counter tops and stainless steel appliances, large backyard, french doors, quiet street in Eastside Costa Mesa. Master Bath with huge shower with double showerhead spa like retreat!

South Coast Springs REO $158,900

Shell Pavlis — Mon, 02 Mar 2009 04:29:37 +0000

Bank Owned Condo by South Coast Plaza

Patch, paint, and profit. This 2 bedroom condo needs some TLC, but the Bank has priced it to sell. Gated community with amenities. Nice kitchen with granite, wood floors, single enclosed garage, large back patio area with 2 patio sliders.

See if that Condo is Approved for FHA

Shell Pavlis — Fri, 27 Feb 2009 05:47:44 +0000

Interested in purchasing a condo, but not sure if it is FHA approved? Here is the official HUD website, where you can look it up https://entp.hud.gov/idapp/html/condlook.cfm . Keep in mind, some projects are getting spot approvals, so if the condo you’re interested in is not on the list, you should still check with your lender.

True Panoramic Ocean View - Laguna Beach Coastline

Shell Pavlis — Mon, 16 Feb 2009 03:10:34 +0000

Breathtaking panoramic Ocean and Coastline views 180 degrees up and down the coast with no obstructions. Recently remodeled with the best top of the line materials. The enormous Great Room encompasses the Family Room, Kitchen, Dining room, and Breakfast nook. Almost every room has a panoramic view up and down the coast. You need to see this house to believe the view.

The contents of my REO Kit

Shell Pavlis — Mon, 16 Feb 2009 02:08:19 +0000

I bring my REO kit with me whenever I check on one of my REO assigments/listings. It is a large canvas bag and contains the following: Rubber gloves, hand sanitizer, duct tape, clear tape (for covering posted notices for weather protection), REO notices, clipboard, checklist of damages, trashbags, camera, flashlight, and Police Department phone numbers by city (in case I have to file a damages claim), extra paper, and a pen.

Coming Soon - New REO Listing in Costa Mesa

Shell Pavlis — Sat, 14 Feb 2009 05:42:18 +0000

2233 Republic, Costa Mesa, CA

Bring Facts, not Emotion to Buy Foreclosure Property at Auction

Shell Pavlis — Mon, 29 Dec 2008 06:38:19 +0000

There was another ad sticker on the front of the LA Times today for REDC Foreclosure Auctions, http://www.USHomeAuction.com . There are many others, but I am familiar with REDC, as several of our Countrywide Bank Owned properties were assigned to them back when the Bank was testing Auction sales vs. traditional sales. Seeing the sticker reminded me of one Auctioin Buyer, who called me after the sale, as I was still responsible for the closing transaction. He asked me if I thought he paid a good price. I deflected his question and asked him if he was happy with the price he paid, and he was, so I left it at that, Honestly, I felt he had paid too much for the property. He paid $25,000 more than the last list price in the MLS, which was $225,000. Buyers: You can get a good deal at Auction, but don’t get caught up in the crowd & the enthusiasm. There are deals to be had, but Do Your Homework.

Research the properties, in advance, and go to the scheduled Open Houses. At a minimum, do your own inspection of the property, and be prepared with a top price you are willing to pay based upon recent Comparable Sales of like properties. And don’t forget to factor the “Buyer’s Premium,” typically around 5%, into your top price.

Did you know you can bring your Realtor to represent you? He or she can run the Comps in advance, and the Seller will pay the Realtor’s commission. Someone by your side, to keep you ‘grounded’ in the confusion can save you money.

Finally, don’t assume that the pricing at Auction is going to be lower than market value. The prices for the properties are assigned the same way others are, and mistakes are made on both the low and high side. The properties will not be sold to the lowest bidder automatically - there is a minimum dollar amount on the homes, which tells me the Sellers are not willing to ‘give them away.’ I had several properties reassigned back to my team for traditional sale when they did not sell at auction because the minumums were not met.

Make an educated bid, based on facts and research, and not emotions. If you win, you will likely walk away feeling good about the deal you got.