Real Estate Agents in Temecula

There are over 1500 “real estate agents in Temecula”. Now that the bubble has officially busted, finding a “real estate agent in Temecula” is difficult because the industry is saturated with real estate agents. A few years ago, the real estate market in Temecula was operating in its prime. Plenty of people from cities like San Diego and Los Angeles were flocking to the inland empire. The major selling points for ” real estate agents in Temecula”, was the price. The common problem a real estate agent in Temecula faced was not having enough inventory. Things have greatly changed in Temecula. Now if you ask a real estate agent in Temecula the greatest challenge they face the answer is unanimously too much inventory. One real estate agent in Temecula told me that she found that with such a large inventory many buyers are getting overwhelmed when it is time to make a decision about which property they should purchase.

Things look even more grim for sellers, with so much real estate in Temecula for sale, or being foreclosed on its taking much longer to sell a home.

That is why finding a knowledgeable real estate agent in Temecula is important. The real estate agent you choose should know Temecula very well. With the listings of real estate in Temecula being so dense, the real estate agent needs to identify the listings that are more suited for your needs. With the amount of new homes being built, your real estate agent should determine what suites your needs the most a pre existing home, or a new home.


Because of the mass building that occurred a few years ago, and the creative financing many homeowners have found themselves in a hard situation, owning a home with a mortgage that is more than the homes value. Because of the slowing of the housing boom, many new home builders are selling their homes for much less than they sold them a few years ago, and with many more incentives. A good real estate agent in Temecula, knows about this new pattern in the market place and would definitely make sure that they provided all the information that would serve you the best.

Because of the new housing market in Temecula, you want to be sure that you find a real estate agent that is committed in helping you. And not committed to selling a home that’s mortgage exceeds its worth.


New Trend in Real Estate May Save Sellers Money

In a hot housing market, sellers can make a profit on their property even after paying six percent commission to a real estate agent. But hot markets always cool down, and those who need to sell their properties in a declining market may hesitate to give up that six percent of the sale price to someone else.

What’s a seller to do? He can put a For Sale by Owner sign in his front yard, advertise in the local paper, list the property on the internet, show the property several times a week for several weeks, screen potential buyers, negotiate with a serious buyer, prepare all the necessary paperwork, arrange the closing, and hope the deal doesn’t fall apart because he just put a down payment on his new house.


Or he can hire a real estate agent to it for him.


Six percent, though, is still a good chunk of change to give up. But sellers need not despair. There is a new trend in the real estate industry that can save sellers money, and still provide assistance in the process.


The real estate industry refers to an un-agented property as a FSBO. FSBO means For Sale By Owner, and the slang is pronounced ‘fisbo’. Companies that provide select services to sellers are becoming known as FSBO companies, or FSBO services. Many of these are directed at the marketing piece of the selling process. For a flat fee, they will provide marketing venues, such as space on their website or in magazine distribution venues. But some go beyond that.


At, based in Virginia, a seller can advertise in the For Sale By Owner magazine, and so take advantage of such services as Advertiser Assistance Option. This package assists in the paperwork right through to closing, and for a flat fee of $475.00.


At, sellers can have a web page to advertise their listing, a for sale yard sign with an info tube, a template for a color brochure or flyer to print from any computer for the info tube, a How To Kit for do it yourself sellers, selling contracts and disclosure forms. This package is available for a flat rate of $299.


For those sellers who feel uncomfortable with the legal side of selling, there are numerous books available on the market, as well as an increasing number of real estate attorneys who will prepare and execute the paperwork for a flat fee.


Essentially, the service provided by a real estate agent has been broken down into a selection of services. Where the six percent commission is all-encompassing, the FSBO companies allow sellers to select which services they need, and to pay a flat fee for those services, up front, and so keep a larger portion of the proceeds from the sale of their homes.


Does this trend in selective services for home sellers spell the end of the real estate agent? No, it only means selling through an agent is not the only option. It means sellers who must get the optimum profit from his or her property do not need to overprice their homes to cover that commission, which usually results in extended time on the market.


Increasingly, real estate brokerage firms are offering flat fee services resembling the services offered by FSBO companies. The brokerage, and thus its agents, assemble a package from the array of services that best suit an individual seller’s needs. The do-it-yourself trend in home selling is galvanizing brokerages and real estate agencies to examine the long accepted practice of commissions paid by the seller.


Though using a FSBO company does not guarantee a sale, neither does using an agent. But being able to select specific services gives the seller control over the process, and this control is absent when using a commissioned agent. An agent may allow the listing to languish if the seller is reluctant to lower his or her price. Flat fees for selected services will obligate the agent to perform those duties he or she has been paid to do.


The trend toward selective service and flat fees is still a small part of the real estate industry, and their usage rate correlates to the state of the housing market. But as more homeowners become savvier in the ways of marketing and selling property, the FSBO companies will become increasingly popular.


Sellers want to maximize profits, and the real estate industry needs sellers. Clearly, the trend toward flat fee services will ultimately become typical in the buying and selling of homes, and the six percent commission will be a luxury item, and not the industry standard.


Real Estate Prices Slump While Property Taxes Rise

In all my years of property ownership, I have never seen a market like this one. Recently, Robin and Company (a CNN Broadcast) had a new report on the housing market. They mentioned that in February sales slumped 0.3%. Robin and Company also mentioned that the average median home sale value dropped to $217,000. The biggest point they mentioned was that whole house values slump tax assessed values are on the rise.

Personal Housing Prices Slump while Property Taxes Rise Impact


With my property, I’ve always used the real property search in MD to get a gage of my home’s value. In the past, the real property taxes’ assess value was about half of the real value. We would pay taxes on that small amount. We could get the property appraised and get access to the larger amount. Now that gap has narrowed significantly. I’ve seen the gap go from a few hundred thousand to 1/3 of that.


I recently had an appraisal of one property in January. I really haven’t doing anything new to it. I simply maintained the property. We do upkeep and make certain anything that needs to be addresses in addresses. We have a staff that can handle any and all issues. Roughly 4 months later, I get another appraisal. The homes value dropped 40,000 dollar. I was nearly chocked at the change. The appraiser told me that the values were simply not there right now. He continued to let me know that we all took a hit in the winter. He expected that the value would catch back up this summer.


Client’s Housing Prices Slump while Property Taxes Rise


I worked on a clients home and improved the value significantly. We gave her property an update kitchen, bathroom, and garage. She will have a tremendous increase in her value. She didn’t want to get a new appraisal from her bank. What was her reason. She didn’t want to have the property accessed rise. She didn’t want to pay more in taxes. He current tax assessed value was $420,000. The houses appraised value was only $400,000. In other words the goverment litteraly is charging her more money in taxes than her home is really worth.


I’m working with this client to fight the tax accessed value. However, I wonder how many other have this exact same issue.


Buyers Market as Housing Prices Slump while Property Taxes on Rise


I have another client that was going to purchase a house in baltimore. We went through a few chalenges to get the deal done. At the end of the day. The seller and their agent was unfreindly and not willing to work with the buyer. We ultimatley let the seller walk. There are so many additional homes on the market, we have no need to fight for one with and unfriendly seller.


As a buyer, this market is the best of bother worlds. If you choose to buy and older home, sellers will most likely want to work with you. If you choose to buy a newer home, the builders have insentives to give you a sweatheart deal. I know two investors that bought investment properties in my area with 10,000 down. They got $80,000 in builder incentives. Niether person put up another dime. The moved out of there older home and rented it out to new tenant.


All that said, this is a tough market. It can work to your advantage. You might fight to make it happen. Best of luck in your Real Estate chalenges.


What Real Estate Agents Won’t Tell You About Their Income

People have a misconception that real estate agents have a pipeline of money that flows into their pockets from helpless buyers and sellers.

While there are some very successful real estate agents out there, nothing could be the farthest from the truth in most cases.


Before you beat on your real estate agent, look at what I’ve outlined for you as to how much they actually make.


The National Association of Realtors has stated that the average agent does 7 closed transactions a year. We’ll stick with that for the sake of this article.


If you list your house for $200,000, with a 5% commission rate, the commission you’re paying out would equal $10,000. That’s a pretty hefty chunk of change! No wonder all the agents are driving nice cars!


Breaking that down further, we see that your agent has to split the commission with the selling agent, as over 90% of real estate transactions have two agents involved.


So, there goes $5,000.


Of the $5,000 left, your agent gets to split it with their broker. $2,500 left for your agent.


Since your real estate agent does not have taxes taken out, immediately a portion of that has to be accounted to Uncle Sam. Since I’m not very good at numbers, I have an accountant. Just for the sake of round numbers, I’m going to subtract $100 off to pay federal and state taxes.


We’re down to $2,400.


From that $2,400, since we have the privilege (?) of being self-employed, we have to pay out of pocket for things like health insurance. Personally, this is equal to $1,300 per month. This is a single deduction, in other words – no deductions here for any kind of 401K or retirement plan.


Down to $1,100.


Out of that $1,100, we can subtract the gas in our car driving back and forth to your listing, the postage for all those nifty mailers we did, and the cost of the virtual tours on your house, food for the open house and a whole host of “your house” related expenses. To keep this conservative, and for round numbers, I’m going to use $300.


Down to $800.


Now we get to keep this for ourselves! $800 can pay our own mortgage payment and household utilities, car payment and contribute towards our annual Realtor fees, which in this year run slightly over $800 annually.


If there’s anything left, that’s what we get to feed our family with.


Remember, this is one transaction. One a month and chances are we’re heading straight for the poorhouse. Remember, also, the National Association of Realtors reports an average agent sells 7 houses a year. Can anyone realistically live on that? Especially in a down market when houses aren’t selling like they used to?


So before you go beating your real estate agent up on their commission, ask yourself if you could, or would, walk into your boss’ office on a Friday afternoon and ask for a cut in pay. Real estate agents have families to feed as well.


Comparing Homes for Real Estate Leverage

A buyer has made an offer on the home that you are selling, and you now face the challenge of deciding whether or not to take the offer. You as a seller want to get the maximum dollar potential out of your home that is possible. But, do you know how to determine whether the offer is a fair offer that will reap the best possible benefits? Find out the true value of your home by comparing it to homes that are similar or just like yours in the area. Compare homes that offer some of the same comforts and square footage size as yours. By doing this you can make the best decision when an offer is made.

Take a look at the last few homes in your area that have sold. Compare their similarities to yours, and this is a great way to determine the true market value of your home. By checking in the local classified ads in your newspaper or by calling a realtor and finding out how much homes like yours have sold for is the best way to get started in this process. If the homes you compares yours too do not match up with the comforts that your home has to offer or vice-versa, it is a good idea to look at how much typical homes are selling by square foot.


To figure out how much a home is selling by the square foot is very easy. You simply take the square footage amount (let’s say 2000 sq. ft.) and divide it by the total sales price (for instance $100,000). By dividing the two numbers you will find out what a home is selling for by the square foot. You can make adjustments to this price as you see fit, and it is also important to note that you should include the entire square footage not just the heated and cooled square footage (i.e. garage or carport). There are also other factors like the number of bedrooms, living areas, bathrooms, and the location that can also affect the sales price on a home. That reason is why it is a good idea to also compare homes that are like yours to make sure that you find an average price that is best to compare your home to.


If a home has a market value of $150,000 it is good practice to make an offer that is about 10% less than the asking price, but in no case more than the asking price. If you want to make sure that you are getting the best possible price on your home take into consideration these tips and get the best dollar for your property.

Should You Offer a Lease Purchase Option to Sell Your Home?

In today’s real estate market, sellers are frantically searching for someone—anyone!—to purchase their homes for a reasonable price, and turning up empty in the end. It is definitely a buyer’s market, which means that sellers are having to rethink their strategoes for selling their homes.

One of the alternatives to keeping the house on the market is a lease-purchase option, which can be a life-saver for many sellers.


A lease-purchase option is an agreement that resides somewhere between a mortgage and a lease. As the seller, you will essentially be the landlord for the buyer, but the money he or she pays in rent will also be put toward the sale purchase of the home. This gives you a monthly income from rent, and also puts you one step closer to selling the house.


It isn’t a good idea to pursue a lease-purchase option if you need the cash from the sale of your home to buy a new one. Although you might be able to receive a modest down-payment before the lease terms begin, it won’t be sufficient to finance a new place to live. Instead, lease-purchase options are perfect for sellers who already have a new home or have sufficient financial resources to buy one without selling the old.


The most dangerous aspect of a lease-purchase option is the fact that most buyers who request this arrangement are unable to secure a traditional mortgage on their own. They might have defaulted on a mortgage in the past or perhaps they have blemished credit; whatever the case, you have to be careful about offering a lease-purchase option.


The major benefit of a lease-purchase option is that sellers usually make more from the sale of their home in this agreement.


Commercial Mortgage and Commercial Hire Purchase Terms

In commercial mortgage a commercial real estate is used as collateral to secure repayment. Though it is similar to a residential mortgage, here the collateral is a commercial building such as office, industrial building, medical buildings, shopping malls, instead of a residential property. The multfamily housing buildings also fall under commercial property. However, commercial mortgage is generally taken on by incorporated business, or limited company instead of individual borrowers.


The common applications loans include acquiring land or commercial properties or refinancing the already existing debt. Common commercial properties are generally mortgaged for office, retail,  amp; industrial purposes.Commercial Mortage is generally made with less than 10 years terms but can be much longer than this also.


A commercial real estate can be taken on for mortgage for a variety of purposes such as:


For purchasing the premises of the business


To extend the existing premises


For residential and commercial investment


In order to develop the property in other manners


Commercial loan broker acts as the intermediary between the borrowing business and the commercial lender. The broker is basically a middle man having information about all the lending criteria of the funding sources. The broker gets paid in commission for each deal made.


As the markets for mortgages have grown in recent times, the role of the mortgage broker has become very pivotal.


On the other hand in Commercial Hire Purchase (CHP) the customer hires a financial product from the financier. The product is generally hired over a set period of time for a fixed monthly repayment charge.In this case the customer generally hires a vehicle for a fixed period of time.


However, under (CHP), the financier agrees for purchasing the car on behalf of the customer, for hiring it back over afixed time period.


At this situation the customer is not the owner of the car. However, when the contract term gets over the total price of the vehicle including the interest charges have to be paid in full. After the full payment, the customer gets the ownership of the car.


Commercial Hire Purchase terms:


Time period ranges from two to five years.


The residual value is according to the contract and it is made on fixed interset rate


The monthly repayments are fixed for CHP and deposit (either cash or trade-in) can be used


If the vehicle is used for business purposes, a tax deduction is available


GST charges is not applicable on the residual payment


Commercial Hire Purchase (CHP) is helpful for organisations, partnerships and sole traders account ing for GST on Accruals basis.They can claim the GST to their next Business Activity Statement (BAS). When the hirer is registered for GST, Input Tax Credits can be applicable. However, individuals using vehicle for business purpose can also opt for CHP.Here the hirer is eligible to claim depreciation up to the limit .As a tax deduction method, the hirer can also claim the interest charges on the contract.


Strategies Required for Selling a Business

Selling a business is a much more complicated, tricky, and involving affair than selling a real estate. Some important steps are required but it is often highly recommended to use the services of a business brokers who might be equipped with the proper and specific sets of skills to getting fair value. The function of the broker during the sale is to facilitate buying and act as a go-between for the buyer and the seller.

As a summary of steps that are required, begin by listing the business that is on sale with the brokerage company. The broker should be from a reputable and well known firm to avoid mischief, fraud, or avoidable losses. They should be met and talked to about the sales process well in advance. This not only assists them in selling the business but also helps them to have it sold at the best price possible. It is recommended to list the business with a broker because when one wants to sell it confidentially. This is a wise step since one can use the resources of a professional intermediary to guide them throughout the selling process.


The second step should be determining the selling price. The very first thing potential buyers will require to know about a business is the price so that they can gauge and find out if they will purchase or even compare to other similar businesses that are on sale. The issue of pricing is one that a broker can easily assist with assuming that they have prices of other similar businesses and can make rough estimates on the costs.


For larger or more complicated businesses, get the services of a professional business evaluator who would be more accurate in determining the selling price. The cost is determined by some factors such as what is actually being sold such as assets, shares, and the work that is or was in progress before the decision for the sale was made so that it is transitioned to appropriate price, inventory, and accounts receivable. These minor and major details should be discussed with the chosen broker and the personal accountant. The process of determining the selling price of the business is an important step of the process.


The other critical thing would be the business information profile where buyers should be presented with a brief snapshot of what the business is all about. The description should be put in a way to leave the prospective buyers with the urge to know more. A good broker should come up with a brief and strong description of the business which should work as a selling point for the business as well. It should also give a brief financial statement indicating performance.


The broker should then qualify the potential business buyers who might have shown interest by responding. The buyer would then hold a conversation with the broker where the brokers have got to find important information such as the buyer’s objectives and what they are looking for. The broker’s responsibility at this stage is to qualify the buyers or fine tune the list according to their financial abilities, aptitude for the business, “seriousness” and other factors. The appropriate and potential buyers are then invited for the signing of a non-disclosure agreement, where the buyer is now presented with further information with regards to the premises. This would include information about the operations of the business, number of employees, a brief summary of the financial performance and any other pertinent “general” information about the business. The general description of the business is set under strict non-disclosure rules to help ensure confidentiality of the sale but at the same time help the potential buyer on deciding if they would want to take their interest to the next level.


The buyer is then shown the business. The business must be in line with any photographs that may have been supplied earlier. The experts recommend preparation at this point ought to be honesty. Presentation is one of the major steps on the selling process. The picture portrayed on its financial matters must be very accurate. It is quite clear to any risk-taker that any business will have some speed bumps and it is very important for them to know any that may be existence for the business. A good broker should remember that this is a precious time to showcase the business potentials and therefore they ought to emphasize on the strength and the hard work that has been done to make it a success other than dwell on its weaknesses. One should expect a lot of questions at this point from the buyer and the best procedure should be trying to answer everything. This is a point where potential buyers will make conditional offer to satisfy themselves through the due diligence process.


A good broker should be in a position to accept or make offers. Majority of these business offers are conditional offers concerning many different issues. During this process, one should confirm some of the facts such as assuring the buyer of getting financing, assuming leases successfully or obtaining franchise approval. In line with specialists, “A condition offer is usually made with a refundable deposit’, this is for the reason that when the deal does not go through, then the risk is partially if not fully catered for.


The conditional offer phase allows the potential buyers to conduct their due diligence were they confirm facts, go through the financial statements, or records and review the overall business operations carefully.


When the buyer is fully satisfied that everything is ok, they waive any other conditions and close the transaction by signing documents through respective lawyers and exchanging the agreed amount.


How to Save Hundreds Annually on Home Ownership Costs – with Just a Stamp and a Few Minutes

With a simple call or a quick form, a presumed “fixed” cost associated with home ownership need not be quite so fixed. Other than a refinance to address the loan terms, the other pillar of assumed fixed costs is real estate taxes. And unlike a refi, the cost of pursuing this option is a 44 cent stamp and a few minutes of your time.


For the first time, I really looked at my bill and then the town’s on-line assessment database. I was surprised to learn that the taxes were based on an assessed value about $20,000 more than the current listing price I had on my property ‘” a price at which I was unable to sell! Most towns and cities have their assessment data bases on-line and all the data you need is just a couple clicks away. A simple Google search should bring you to your town’s site.


I assumed the tax assessment process would be confusing and mired in bureaucratic red tape. In reality, it was far simpler. After consulting the town’s website and downloading the form, I simply had to state what I felt the assessed value should be and why. My rational was simple: this property had been actively marketed for an extended period of time at a value $20,000 below the current assessed value. Given the current market and diligent efforts to sell, it was clearly over-valued. I filled out the form and mailed it in.


Though the response was not exactly what I suggested for the new valuation, it was significantly less than it had been. It was so quick and easy, I repeated the process with an additional rental property as well as my own residence. Some municipalities have a more complex process, but assuming so is a big mistake. It takes only a few minutes to find out and could save you big bucks.


It has become increasing common to see real estate advertisements for properties being sold “Well Below Assessed Value”. “Well Below Assessed Value” is simply another way of saying “Taxed Way Beyond Its Current Worth”.


But therein lies the problem ‘” the difference between assessed and appraised and the tendency for most homeowners to utilize them interchangeably. Appraised value is what an independent professional determined the home to be worth in the current market- taking into consideration recent sales, listings, etc. It is done sporadically ‘” generally at the time of applying for a mortgage. Assessed value is generally determined on a regular basis by a municipality, sometimes as infrequently as once per decade. It is used as the basis for determining a town’s total valuation and therefore the necessary tax rate to meet its obligations.


In determining the value, the town considers all data available on your property and may send out representatives to document specific features. Appraisals can be incorrect for a variety of reasons. The most common is just simply incorrect factual information ‘” the number of beds/baths, the square footage, property features, etc. In my case, these minor inaccuracies only strengthened my over assessment contention. I didn’t have a fireplace or hard wood floors — all things the town had assumed when determining the value.


If you intend to stay in your home and cannot point to an unsuccessful list price as justification for a lower valuation, there are plenty of other resources to help you prove your case. Starting with,, and your town’s database are all ways to provide factual data that shows your home is worth less than the town previously determined. Cite recent sales in your neighborhood and compare the features of those properties with yours. Always remember it is a fact-driven process, not an emotional one.


It is not in a town’s interest to make the process simple or to encourage property owners to contest their valuation. But by putting aside assumptions and focusing a few minutes of research, I was able to successfully drop the town’s valuation of my property and lower my tax bill, all the while making it more attractive to investors who know that a lower valuation simply means lower ownership costs.


Residential Real Estate Loans

Residential real estate a place where people reside may be a single family or multi family housing set up. A residential real estate may have commercial space for business, some such areas may even exclude the use of such commercial set ups.

To purchase such residential real estate, a huge amount of money is required. Money can be borrowed from banks/ financial institutions or brokers in the form of residential real estate loan.


Like any other loan, a residential real estate loan involves the borrowers and the lender. The lender initially pays a sum to the borrower which is paid back in installments. These installments may be regular or otherwise. With the home loan market booming with several loan products, it is easy to shop around for a loan product that suits our need and budget.


Another type of loan which is very similar to residential real estate loan is “reverse” mortgage. A reverse mortgage is generally available to elderly who have very little money for their needs but enough equity in their homes. It helps such retired people to get a steady cash flow from their homes without having to sell it.


Now that we have understood the means of a residential real estate loan we should also know the various disadvantages that such loans have. One such hiccup is a default in repayment. In case the borrower is unable to repay the loan installments for 30 days then the borrower would make a phone call to make their monthly payment. After a period of 60 days the lender sends a reminder letter along with a phone call to make the payment. After a period of 90 days the lender sends a “pre foreclose” letter explaining the terms of the mortgage agreement due to default. Here a lender can ask for repayment of the installment due plus interest along with any later fees applicable. In even of non-payment of all these dues the lender can file a law suit to repossess the house.


Residential Real estate loans are primarily used to improve, buy or to refinance a property which is of residential use. These loans are of help to people with poor or bad credit scores but with a lot of money on their hand. Such people can opt for this type of loan as the bankers will only look at its money making capacity rather than the credit history of the borrower. Residential Real estate loans are considered as commercial loans as the borrower can make money out of the property by renting it out.


Another important criteria in these loans is the ratio of cash reserves and loan to value.

For a residential loan, a buyer’s credit history, the ratio of loan-to-value and cash reserves is major criteria.


There are many advantages of residential real estate loans. It is a long term investment plan which is more viable than commercial loans which require a huge down payment and unpredictable rates. Residential real estate loans are easier to get as the it is easy to product proof of profitability.


Residential real estate loans are for those who want to get the best loans with low interest rates and even earn money from the investment.