Flora Morgan is in escrow, but we only met the appraiser yesterday. I am unsure what the appraisal hold-up was, but the entire process is now different. For those of you who don’t know, lenders no longer order the appraisal directly; they contact a management company that does. The appraiser then contacts the real estate agent for access, completes the assessment, and submits it to the management company, who in turn gives it to the l.
Just imagine if I made my husband, George, breakfast each morning, but I couldn’t ask him what he wanted or give it to him directly. George would contact the “management company” and ask for a bowl of oatmeal. The “management company” would contact me; I would make the oatmeal and contact the “management company” when it was ready. Then, the “management company” would contact my husband and let him know the oatmeal was ready. The entire process is just this stupid.
Appraisals did not cause the nature of the subprime crisis. It was a result of making loans to people with zero down payments. Many of these loans had negative amortization, and when the loan balances increased by 25%, the home buyer/owner’s payment was recast (adjusted) and typically increased by more than $1,000.00 a month. That’s simply a recipe for disaster.
Harb & Co Real Estate Wrap October 2013: The landscape and paint were completed, and 1400 Stanford Drive is on the market and open this Sunday. I love it when the homeowner uses my vendors. I have a team of great painters and landscapers. Their prices are fair, they know what to do and do it well, and on time.
We’re painting the La Crescenta four-bedroom, two-bath home now. Part of the landscaping is complete, though not by my usual landscaper. Unfortunately, the work lacks the attention to detail I was hoping for. As a top real estate agent, I focus on helping sellers maximize their bottom line. Often, that starts with curb appeal. Small improvements can make a big difference in a home’s first impression—and its final sale price.
Next week, hedges will be trimmed at my Arcadia listing (16,000+ square feet), a three-bedroom, three-bath pool home. The yard is enormous, but hedges divide it, making it appear choppy.
One of my favorite painters will paint a couple of rooms of my new Toluca Lake listing, which will be coming on the market this year as well.
I have a completely updated condo listing in the San Fernando Valley, which should also be on the market this year. I am also working on getting an Altadena home listed (wish me luck!).
