Free Lunch Wednesdays

NEW -> Contingent Buyer Assistance Program
Jeez IR! Are you sure this is helping your reputation with other realtors? At First Team in the 1990's in Irvine things were tough. Agent previews were serving Thai Chicken salad, honey baked hams, rolls and chocolate chip cookies hot from the oven, anything to attract a crowd of jaded realtors BUT IMHO having a bunch of HBBers coming through would be the last straw that breaks the camels back. LOL!!
 
[quote author="emoh88" date=1213824248]Jeez IR! Are you sure this is helping your reputation with other realtors? At First Team in the 1990's in Irvine things were tough. Agent previews were serving Thai Chicken salad, honey baked hams, rolls and chocolate chip cookies hot from the oven, anything to attract a crowd of jaded realtors BUT IMHO having a bunch of HBBers coming through would be the last straw that breaks the camels back. LOL!!</blockquote>


I have a hunch that the IHBers aren't so gruff in person, and I think the other realtors will appreciate the attendance and feedback for their sellers. I know I do.
 
[quote author="IrvineRealtor" date=1213826010][quote author="emoh88" date=1213824248]Jeez IR! Are you sure this is helping your reputation with other realtors? At First Team in the 1990's in Irvine things were tough. Agent previews were serving Thai Chicken salad, honey baked hams, rolls and chocolate chip cookies hot from the oven, anything to attract a crowd of jaded realtors BUT IMHO having a bunch of HBBers coming through would be the last straw that breaks the camels back. LOL!!</blockquote>


I have a hunch that the IHBers aren't so gruff in person, and I think the other realtors will appreciate the attendance and feedback for their sellers. I know I do.</blockquote>


I agree. I think IHBers are some very nice folks and the intelligent brokers would like feedback, especially the feedback which does not agree with every thing else they hear.


And it seems to me that most IHBers are future buyers, something any smart broker, (IR2), would care to cultivate.
 
<blockquote>PRICE REDUCED***You will not believe your eyes as you enter this Highly Upgraded Tuscan-inspired North Tustin home which explores the integration of romantic Old World and early California architecture located behind the prestigious gated community of El Sereno Private Estates. This revival 15 room home mixes luxury with historic ingenuity. This home's vaulted entry chamber introduces the drama and grandeur of the home. There are breathtaking Italian floors, 20-foot vaulted ceilings, well equipped gourmet kitchen that will delight any Chef s needs, 2 perfect resort style master retreats with access to separate private decks. Serene and private outdoor entertaining area provides access to the magnificent amenities of the rear yard. Prominent features include cozy sitting areas around a fire pit, barbeque area, and several water features throughout the property. PRICED WELL UNDER MARKET!!!</blockquote>


Dear Jon Barrist: Please take these comments as constructive criticism, as that is how they are intended. First, I don't want my future home to explore anything. I would suggest that the home only "integrate romantic Old World and early California architecture," assuming that it does so, because later on it is described as a "revival 15 room home." Now the house style sounds architecturally confusing, like the builder / rehabber grabbed what was popular about different styles and tossed them together willy nilly. I also don't want inanimate objects to take my breath. How about "the Italian floors are breathtakingly beautiful." As for "PRICED WELL UNDER MARKET!!!," I would suggest "priced 10% under recent comps" or something similarly concrete for us numbers nerds.
 
[quote author="escrowbear" date=1213827734]Is 32 Secret Garden that much different than 20 Bamboo? They both have similar specs (3/2/1700+) but 32 secret garden is priced 268k more!</blockquote>


I think some of it is the description. 32 Secret Garden sounds like a place I would want to live. The description for 20 Bamboo sounds almost depressing, and certainly bland.
 
Mike Dunn must be a reader of IHB, he spelled Sistine Chapel correctly this week. It is still totally ridiculous to say a home is more upgraded than the Taj Mahal and the Sistine Chapel combined, but it takes baby steps to come down from the Kool-Aid high like he is on.



IR2, have you seen Mike Dunn lately? I mean, is he alright, does he need food, maybe a hug, or a shower and and a shave? I admit... I am actually worried about the poor guy. I picture ripped open Kool-Aid packets everywhere, him scrambling to find the one last packet, sweating, screaming, and crying about how he wishes it were still 2005.
 
[quote author="escrowbear" date=1213827734]Is 32 Secret Garden that much different than 20 Bamboo? They both have similar specs (3/2/1700+) but 32 secret garden is priced 268k more!</blockquote>


At a client's request, we put this one to the test, and it was indeed a "fishing" price. Our full-priced offer on 20 Bamboo was summarily dismissed as they are going to auction at $761K.
 
[quote author="graphrix" date=1213836906]Mike Dunn must be a reader of IHB, he spelled Sistine Chapel correctly this week. It is still totally ridiculous to say a home is more upgraded than the Taj Mahal and the Sistine Chapel combined, but it takes baby steps to come down from the Kool-Aid high like he is on.



IR2, have you seen Mike Dunn lately? I mean, is he alright, does he need food, maybe a hug, or a shower and and a shave? I admit... I am actually worried about the poor guy. I picture ripped open Kool-Aid packets everywhere, him scrambling to find the one last packet, sweating, screaming, and crying about how he wishes it were still 2005.</blockquote>


I think you'll be pleasantly surprised if you do ever meet Mike in person. A good man who does what he says he will do. He has some of the more clever descriptions out there, and he clearly has fun with them. I have confidence that he will be one that lasts through this "culling of the herd" downturn. I'll have to dig for it, but he also posted one of my all-time favorite photos for a property he was selling....
 
<img src="http://irvinerealtorsite.com/copter.jpg" alt="" />



And the description: <strong><em>Also inlcuded, is this Gyrocopter for those pilots in the audience!</em></strong>
 
[quote author="IrvineRealtor" date=1213839043][quote author="escrowbear" date=1213827734]Is 32 Secret Garden that much different than 20 Bamboo? They both have similar specs (3/2/1700+) but 32 secret garden is priced 268k more!</blockquote>


At a client's request, we put this one to the test, and it was indeed a "fishing" price. Our full-priced offer on 20 Bamboo was summarily dismissed as they are going to auction at $761K.</blockquote>


IR2- I've seen this type of huge price drop a couple of times now..... can you explain the strategy behind this? Do they believe that they can drop the price $250K and get a bidding war to bring it up $150K+? Is this a last ditch effort before auction in most cases? Thanks for the insight.
 
[quote author="furious sugar" date=1213843135]IR2- I've seen this type of huge price drop a couple of times now..... can you explain the strategy behind this? Do they believe that they can drop the price $250K and get a bidding war to bring it up $150K+? Is this a last ditch effort before auction in most cases? Thanks for the insight.</blockquote>


A shortcoming of the short sale is that the banks won't start working on a valuation on a property until they have a qualified offer. If the listing price is at or just slightly below market value, it is not perceived as enough of a "bargain" for potential buyers to bid, and the process never starts.



The lowball list price gets some action moving, and forces the bank's hand in beginning an honest effort valuation on what the home should actually be worth. Unfortunately, they find that the current value of the home should be much higher, and the counteroffer reflects it. The unfortunate part to the pool of buyers is that the first offer is usually dropped as a sacrificial lamb. The advantage to the seller is that at least the bank has begun to do its homework on the home. Additionally it provides a list of potential homebuyers to come back to with a "real" price.



REO properties have already gone through this process and are typically, but not always, priced much closer to where they will actually agree to close at.
 
[quote author="IrvineRealtor" date=1213839780]<img src="http://irvinerealtorsite.com/copter.jpg" alt="" />



And the description: <strong><em>Also inlcuded, is this Gyrocopter for those pilots in the audience!</em></strong></blockquote>


That is awesome! Does that HOA approve of flying around in a Gyrocopter, or is that why the owner was moving?



That gyrocopter is old school, just like graphcakes007...



<object width="325" height="250"><embed src="http://www.youtube.com/v/youtube" type="application/x-shockwave-flash" width="325" height="250"></embed></object>
 
[quote author="Anonymous" date=1213931301][quote author="QH Renter" date=1213880470]Commuting by gyrocopter has got to be the best way to beat the traffic.</blockquote>


Acutally, not ... Fusion Man video link below



http://youtube.com/watch?v=B9JAk-WPZkk</blockquote>


Fusion Man = Buzz Lightyear?
 
Got lunch?



Another week, some more lunch, updated for 06/25/08



Categorized by Village...



<strong><a href="http://irvinerealtorsite.com/0625irvine.doc">Irvine</a></strong>



<strong><a href="http://irvinerealtorsite.com/0625tustin.doc">Tustin</a></strong>





Rate the food, rate the property, or both. Other suggestions/questions?

-IR2
 
Funny that 54 Logan is a "preview". That bad boy has been on the market for forever. That one is for sale by owner/agent. Poor guy has been marketing that place so hard to no avail...
 
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