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On Thursday morning, I listed a turnkey Hamlin Plan 3 Single Story home in Loma Linda on MLS. The home was built in 2020 by Lennar Homes and features 4 bedrooms and 2 full bathrooms along with almost 2,300sf of living space on a larger 7,771sf lot. The home has no HOA and low tax rate 1.25% as...

I'm not 100% sure because I don't have a copy of the land lease agreement but I'd venture to bet that the City of LA Housing Authority would probably extend the land lease for another 99 years.

The land lease expires in 2099 for all of the homes in the Harbor Village so any new buyer assumes the existing 99-year lease which expires in 2099 or 75 years from now. As long as the land lease expires past the maturity of the loan, it is financeable by conventional lenders. I've never seen...

The home was built on leased land (lessor is the City of LA Housing Authority) with a 99-year lease with no land lease payments. As such, sellers and buyers need to notarize an assignment of the land lease from the seller to the buyer before title will record the transaction.

Yeah, never had a situation where 2 buyers flaked out but I'm happy that I was able to get the seller an even higher price than the initial top buyer's offer. The market is definitely more tricky now and more due diligence is needed when selecting a buyer.

Pretty good little tool although it is not 100% accurate as the numbers a little off but pretty close.

I registered a buyer over at Lily yesterday afternoon. Taylor Morrison is offering up a $25,000 broker co-op for Lily. Honestly, the price is on the high side compared to the closed comps.

Since I'm back from vacation and in the swing of things again, I wanted to tie off this thread. Talk about a rollercoaster with this home. I listed the home for $625,000 and received a total of 8 offers. The top offer was $685,000 and that buyer cancelled before even submitting their deposit...

Our buyer got laid off on Friday and our back up buyers that offered enough for the seller found other homes so the home is back on the market and I'll be hosting open houses this coming week on Nov 2nd and 3rd from 1-4pm. It's a shame because we completed the inspection and appraisal and were...

The condo sold on Thursday. The recorded sales price was $940,800. The contract price was actually $960,000 as the buyer was a semi active licensed real estate agent but asked me to represent her so they wouldn't have to pay their broker the commission split so we reduced the price by the 2%...

I have a great insurance broker who got the buyer of my 6 Ceramica listing a policy at around $2,000/yr....I was shocked when I saw the quote.

The buyer purchased the home for her older parents and will remodel the home before they move into it. It has a good location and a good floor plan and will look great once it's fully remodeled.

There is a pool/spa facility just up the street from the home on The Mall

Of course, it's been a busy time clearing out the listing that I've had and especially with coordinating repairs as many of the buyers wanted the repairs done before closing. I'll post up an update for Irvine through September in the coming week as one has been long overdue.

Got word just now from escrow that the transaction has officially closed. The sales price was $1,450,000. Congrats to both the buyer and seller.

Just got word from escrow that the transaction closed today. The final sales price was $1,435,000 and the seller also got a free 3 month rent back. I also represented the buyer who I met at the open house. Congrats to both the buyer and seller.

Hopefully they can pull it off on Friday but Darvis is probably their best pitcher.

We received a total of 6 offers and I sent out the best & final counters which are due by Thursday at 8pm.

Good question. No, I've always tried to do the first and second weekend of open houses primarily to get a gauge of the traffic count as well as the buyer feedback on the home. That information gives me an idea of how the pricing of the home is. The secondary reason why I do open houses on my...

We got 2 more offers in today and had almost 50 sets of buyers come out to both open houses.