Tuesday, June 22, 2010

Locked up for MDA


Please Help Me!!! I'm being arrested Wednesday 06/23/2010 and put in jail for the Muscular Dystrophy Association (MDA) Lock-up. Don’t even bother asking what crime I have committed – it’s not really that important. I just have to raise my bail of $1250.00 before the Lock-Up and they will go easy on me, but I need your financial assistance to post my bond. Please lend your support during the:


MDA Lock Up June 23rd 12:00 P.M. - Smoke House Restaurant – Burbank

Your 100% tax-deductible donation will help MDA continue research into the cause and the possible cure of the 43 neuromuscular diseases they cover. Your support of the MDA Lock-Up will also help MDA provide medical equipment, clinic visits, support groups and a magical week of MDA Summer Camp for the families served by the Association in our local area.


Visit my site and make a donation today!

https://www.joinmda.org/burbank2010/philipkeppel


Thank you for your support!

Phil

Monday, June 21, 2010

Open House for June 27th 2010 1 - 4 P.M. Excellent Opportunity!


Come join Jill and I this Sunday as we host an open house at 707 N. Valley Street in Burbank, CA 91505 from 1-4 P.M. Here is the run down:

4 bedroom
3 bathroom
2,867 sq ft living space
6,000 sq ft lot
Year built 1941
Tree lined Street!

Hope to see you there. Wear comfortable shoes and proper offer writing attire!

Tuesday, June 15, 2010

3rd Annual - Bill Toth and Associates Community Carnival!

Please join our office in celebrating community spirit as we host our 3rd annual carnival on Saturday June 26th. All are welcome. Hope to see you there!

Sunday, June 13, 2010

Help - I'm FHA and having trouble landing a house!






This is not an uncommon problem in the Burbank/Los Angeles area. In the grand scheme of things, when a homebuyer is looking at offers, cash buyers are most preferred, followed by the large down payment crowd, next are the high FICO score group, then lastly the FHA people.

Unfair? Absolutely, but sellers all look for the sure thing with the least amount of problems. Think of how you would react to the before mentioned offers. If you have an all cash offer and an FHA buyer before you, you know that with the cash offer you will have less worries about appraisals, code requirements, or the buyer's ability to get their loan and close on time. Basically speaking, the higher the risk - the more concern a seller will have with potential buyers.

So how does an FHA buyer get a home then? I hear this from frustrated FHA buyers all the time. They tell me that they have been battling for months writing offers only to be beaten out each time by cash buyers. My answer is simple. Get an agent who is responsive and proactive. Jill and I work with FHA buyers all the time and have not had much problems finding and closing deals for them - mainly because we focus on working quickly and smartly.

Time is of the essence when finding a home for an FHA client. Also, one needs to be smart in the approach. One can not low-ball a competitively priced property that is new to the market and expect favorable returns. If you like the home and you are FHA - you need to go in quickly with as strong an offer as you are comfortable submitting. The goal is to get the seller to accept your offer before others come in. That is the key - plain and simple. Know the competition and play to win.

Wednesday, June 9, 2010

So...shorts sales are great deals, huh?


As ShortSale and Foreclosure certification holders, Jill and I will sometimes come across friends who'll ask that we keep an eye out for promising short sales. When we ask why, they tell us how short sales are great deals selling under market value. I think this is interesting and is a perception shared by many out there due to all the misinformation around today.

Many people confuse short sales with REOs -which one can sometimes find good deals if the home is in need of TLC and the buyer doesn't mind investing some of their own money to fix it up. A Short Sale though is basically a program for sellers to settle a debt on their properties before going to foreclosure. It mainly benefit that seller - not the next buyer.

There are a few steps to a short sale that people need to know about before entering into the transaction. First, the process doesn't end after the first agreed upon price. This is because the bank, or investor the bank represents, are the ones taking the loss - so they will be the ones deciding the final amount. Ideally, the bank will want the home sold for TODAY'S MARKET VALUE so big deals will be unlikely unless the home sits for a long time. By that time the home will most likely be foreclosed upon anyway. Short sales become more of a hassle with every extra liens on the home since those will have to be taken care of as well, most likely out of pocket of the new buyer before the home will be allowed to close.

Overall, short sales work well for those trying to get out of bad situations but don't assume they will be easy, or a great deal. If you want a really great deal, be diligent in your home search and be ready to act as soon as you see your dream home no matter what type of listing it is.(short sale, foreclosure, standard sale) The early bird does get the worm :)