Larry Robertson, Broker, Realtor®, SRES®, SFR®, I have been a Real Estate Broker since 1977, I have also been a member of the NAR (National Association of Realtors®), CAR (California Association of Realtors®), the Inland Valley Association of Realtors® (MLS) since 1977 and a Member of the MRMLS (Multi Region Multiple Listing Service), Covering the State of California.

I can do more representing you and your property, than most Real Estate Offices. Your most important consideration in choosing a Real Estate Broker, is to find one with Experience, Ethics and above all Honesty. Don’t deal or trust anyone offering less.

Why should you have Larry Robertson represent you?

1) I’m a Real Estate Broker not just a Real Estate Sales Person, meaning you have the person who can make the correct decisions from the start.

2) I will seek the Highest Sales Price (Not just an acceptable sales price), remembering that the Sales Price must be justified to the Lender’s Appraiser, with Comparable Sales, of similar properties.

3) Experience in your City, I know what to expect with the Sales Contract, Termite, Home Inspection, Required, Mandated and Requested Disclosures.

4) Selling your home can be traumatic or at least nerve racking with so many uncertainties and the myriad of expected, required, requested and mandated disclosures and with the high emphasis on Pre-Sale Home Inspections here in the most consumer oriented state of California. The Courts have also held that a novice defense is not an adequate defense for not complying with State mandates concerning disclosures. This is why you absolutely need an Experienced, Ethical Real Estate Broker. I have fulfilled these requirements as a Real Estate Broker since 1977.

5) I personally answer the phone calls about your property. Usually at most offices, the phone calls are answered by the Salesperson on Floor Duty. Most of the time they have never seen your property, and can not answer questions from other Real Estate Offices. I can personally answer all those questions about your property from other Agents, Lenders or Appraisers.

6) Last, but certainly not least, 30 Years of Proven Experience, Ethics and Reliable Real Estate Service.

Please Check Back For More Topics Like These:

We will be discussing: Selling Your Home, Buying A Home, Short Sales, Facing Foreclosure, FICO Scores, Down Payments, Buying VA, Pricing Your Home, Buying Short Sales, Buying REO’s, Buying Foreclosures, What Are Closing Costs, How Do You Choose A Realtor®, What Is Pre-Qualified, What Is Pre-Approval, What Are Those Dumb Initials After Your Name and Many More Topics.

You Can E-Mail Me Any Real Estate Question, I Am Always Willing To Answer Or Help With Your Questions, Problems Or Concerns.

larry@robertsonrealtor.com or Call: 909.983.2892

AS PREVIOUSLY STATED MANY TIMES, FIND AN ETHICAL HONEST REAL ESTATE BROKER.

FIND AN HONEST LENDER AND GET PREAPPROVED.

CHOOSE YOUR HOME AND MAKE AN OFFER.

IF OFFER ACCEPTED, OPEN ESCROW.

HAVE A HOME INSPECTION.

LENDER WILL SCHEDULE AN APPRAISAL.

NEGOTIATE REPAIRS IF NECESSARY.

SIGN LOAN DOCUMENTS.

FINAL WALK THROUGH INSPECTION (5 DAYS PRIOR).

THE LOAN FUNDS.

THE DEED IS RECORDED (IT’S ALL YOURS).

This is the crux of the buying process, your real estate person handles most of the scary items. The foregoing takes from 30 to 45 days in escrow (depending on the kind of financing you have).

You Can E-Mail Me Any Real Estate Question, I Am Always Willing To Answer Or Help With Your Questions, Problems Or Concerns.

larry@robertsonrealtor.com or Call: 909.983.2892

FIND AN HONEST ETHICAL REAL ESTATE BROKER.

HAVE YOUR REAL ESTATE PERSON DO A MARKET ANALYSIS OF YOUR PROPERTY.

DETERMINE THE BEST PRICE TO SELL YOUR HOME.

DO A LISTING AGREEMENT.

PROPERTY IS LISTED ON THE MLS®.

WHEN AN OFFER IS RECEIVED ACCEPT OR COUNTER PRICE AND TERMS (EXTREMELY IMPORTANT).

OFFER (PURCHASE AGREEMENT) AND COUNTER ARE SIGNED BY BOTH BUYER AND SELLER.

OPEN ESCROW.

BUYER GETS A HOME INSPECTION.

BUYER’S LENDER REQUESTS APPRAISAL.

BUYER MAY REQUEST REPAIRS.

GIVE THE BUYER THE MYRIAD OF DISCLOSURES.

ORDER TERMITE INSPECTION.

BUYER HAS FINAL WALK-THRU, ABOUT 5 DAYS PRIOR TO CLOSING ESCROW.

BUYER SIGNS LOAN DOCS.

LOAN FUNDS.

DEED IS RECORDED, YOU SOLD YOUR HOME.

Obviously, this is a capsulated version of the process. There are lots of negotiations, disclosures, escrow instructions, special requests from escrow, title, buyer, termite, lender (maybe), appraiser, inspectors (actually I could go on). This is why you absolutely need that great ethical real estate broker, who can make it a lot less painful and distressful.

You Can E-Mail Me Any Real Estate Question, I Am Always Willing To Answer Or Help With Your Questions, Problems Or Concerns.

larry@robertsonrealtor.com or Call: 909.983.2892

I will first give you a simple definition of a SHORT SALE. The simplest description would be: “You owe more on your home, than what it is worth.” In other words, you owe $300,000 on your home, however it is only worth $175,000. This example you owe $125,000 more than what it is worth. You are SHORT ($125,000) on your payoff. So, you would need a SHORT SALE to sell your home.

First, you must determine if you are even possibly eligible for a SHORT SALE? Let’s begin with the bad news. Just because you owe more than what your home is worth (referred to as “Upside down”) it is not a reason for a SHORT SALE; the loss of value or equity is not considered a “hardship” (a reason for a Short Sale).

Hardship – No Hardship

Lenders may consider a SHORT SALE for homeowners who have experienced any of the following:

• Job Loss
• Business Failure
• Illness and Medical Costs
• Divorce or Death of a Spouse
• Natural Disaster

If the Homeowner/Seller has liquid assets, they may have to contribute to the deficiency.

Some wonder if a Real Estate License Required to Represent the Parties to a Short

Sale?

The simple answer is YES, with some extremely narrow and limited exceptions and exemptions.

A real estate broker license (or a real estate salesperson license where that person is working under the supervision of his or her broker) is required under section 10131 (d) of the California Business and Professions Code (B&P Code) where a person, in a representative capacity on behalf of another, “negotiates loans…or performs services for borrowers or lenders …in connection with loans secured directly or collaterally by liens on real property…” for or in expectation of compensation, “regardless of the form or time of payment”.

In addition, under section 10131 (a) of the B&P Code, a real estate broker license (or salesperson license with appropriate supervision by the broker of record) is required of any person who, as a representative of another, “Sells or offers to sell, buys or offers to buy, solicits prospective sellers or purchasers of, solicits or obtains listings of, or negotiates the purchase, sale or exchange of real property…”

Criminal Penalties for Those Who Participate in Unlicensed Activities. Those who engage in short sale transactions, including the related “negotiations”, and who are unlicensed (and do not have the benefit of an exception/exemption), are in violation of California law. The penalties include fines and/or imprisonment under section 10139 of the B&P Code.

Further, if you are considering engaging in short sale transactions, you should fully educate yourself about the mechanics of the process and the related legal and ethical issues, and work only with legitimate professionals.

Finally, if you become aware of information about fraudulent short sale activity, please contact the DRE’s Enforcement section in Sacramento or at the office closest to you, or via the Internet at DRE Complaints. In addition, you may want to contact the California Attorney General’s Office, the U.S. Department of Housing and Urban Development, and the Federal Bureau of Investigation.

You Can E-Mail Me Any Real Estate Question, I Am Always Willing To Answer Or Help With Your Questions, Problems Or Concerns.

larry@robertsonrealtor.com or Call: 909.983.2892

If I can answer any additional questions about down payments or any other topic, or help you get Pre–Approved, give me a call or e–mail:

larry@robertsonrealtor.com or Call: 909.983.2892

Another question I’m asked about is Closing Costs. When purchasing or planning for a purchase involves several items to consider and prepare for. One is the Down Payment (which will be covered next week), secondly is your Closing Costs.

If I can answer any additional questions, or help you get Pre–Approved, give me a call or e–mail:

larry@robertsonrealtor.com or Call: 909.983.2892

If you’ve ever applied for credit for a home loan or a car loan, then you’ve probably seen your credit report. These lenders consider you credit worthy or having an unworthy credit report based on a certain criteria. These lenders base their decision on many factors, including your Credit Score. One of my clients have a FICO Score of 832 (the last lender they used said it was the highest score, he has ever seen). It meant they bought a home without verifiable jobs or income. You can see the importance of your Credit Score.

To improve your FICO Score there are things you can do to develop a solid credit history that will improve your FICO score.

Pay your bills consistently on time – recent late payments are more harmful to your score than older late payments.

Check your credit report and remove any errors – inaccurate information on your credit report can lower your score.

Keep your debt reasonable – as a general rule, your account balances should be below 75% of your available credit.

Maintain only a reasonable amount of unused credit – having ready access too much money (instant debt) can make you an unsatisfactory credit risk.

Avoid too many inquiries – inquiries can be interpreted as a sign that you are seeking credit and could overextend yourself or may be in financial difficulty.

WHAT’S IN A SCORING MODEL?

Recent payment history

The amount of credit you have access to and are using

How long a credit history you have

Whether you’ve been shopping for credit

Notification of collection and public record items such as liens and bankruptcies

WHAT’S NOT?

By law, lenders–and scoring models–are prohibited from considering factors such as:

Your race – Your religion – Your gender, whether you’re married, single or divorced

Where you were born.

Although there are dozens of scoring models being employed (and more on the way) the most well-known company in the scoring business is Fair, Isaac and Company, known as FICO Scores (you can get your FICO score here).

A numerical score is then developed, typically ranging from 300 to 900, with the low end of the scale indicating a poor credit risk. This can tell a lender whether or not he’ll lend to you.

What’s in your score?

According to FICO, the breakdown of your score is as follows:

35% of the score is determined by payment histories on your credit accounts, with recent history weighted a bit more heavily than the distant past;

30% is based upon the amount of debt you have outstanding with all creditors;

15% is produced on the basis of how long you’ve been a credit user (a longer history is better if you’ve always made timely payments);

10% is comprised of very recent history, and whether or not you’ve been actively seeking (and getting) loans or credit lines in the past few months;

10% is calculated from the mix of credit you hold, including installment loans (like car loans), leases, mortgages, credit cards, etc.

You Can E-Mail Me Any Real Estate Question, I Am Always Willing To Answer Or Help With Your Questions, Problems Or Concerns.

larry@robertsonrealtor.com or Call: 909.983.2892

I receive many questions about the difference between a Pre–Qualified loan and a Pre–Approved loan. A Pre–Qualified status, means you have talked to a lender, and given him all pertinent information for obtaining a loan. Based on the information you have given, you are qualified for a loan of a certain amount.

A Pre–Approved loan, means all information given (income, reserves, employment and credit information) have all been verified by documentation. This will grant you a Pre–Approved status.

When looking to buy a home or property, the seller’s agent (if a good agent) will require a letter from a lender, stating that you are Pre–Approved for the loan you require to purchase the home or property. This is to make certain the home or property is not tied up with an unqualified buyer.

If I can answer any additional questions, or help you get Pre–Approved, give me a call or e–mail:

larry@robertsonrealtor.com or Call: 909.983.2892

NEXT – WHAT ARE CLOSING COSTS?

Since you are reading this, you have decided to look into Selling your home. Selling your home requires a Real Estate Broker your comfortable with and can trust with probably your largest investment. When Selling your home the two most important considerations are:

1) Your Real Estate Broker.

2) Pricing your Home.

In that order, your Real Estate Broker will guide you on No. 2. Remember without an able and willing buyer and an able and willing lender you have no Sale. Most importantly, you need to choose a Realtor® you can trust. This is so crucial with the myriad of expected, required, requested and mandated disclosures along with the high emphasis on the Pre-Sale Home Inspections here in the most consumer oriented state of California. This makes it imperative that you choose an Ethical (Honest) and Experienced Real Estate Broker, who knows how to protect you and get the most for your property.

Remember the foregoing demonstrates the importance of the Real Estate person you choose, it can mean a great deal of time, money and heartache.

I am always willing to answer Real Estate questions, give me an Email: larry@robertsonrealtor.com or a call at (909) 983-2892.

Our Next Post Will BE:  “Pre-Qualified v. Pre-Approved”

Let’s start back in the early 1990’s, I was selling a lot of FHA and VA Foreclosures and repossessed properties. They were just called Repos. I was a Certified HUD Broker and a VA Approved Real Estate Broker. Houses would come out weekly for inspection by potential buyers, then after a week, buyers would put in a bid on the property. The house went to the highest bidder.

The obvious question, how did the buyer get to place a bid. First the Buyer was directed to a Certified HUD Lender. The lender would process the buyer and his qualifications for a loan (much like what is done today). In fact I am still working with several of those lenders today.

Once they were approved and all provided information was verified in writing. The Buyer was qualified for a loan amount, then I could place a bid on a property on behalf of the Buyer up to that amount.

Now the tricky part, the lender had to guarantee to HUD, that if the Buyer’s Offer was accepted, they (the lender) would close the loan at the end of 45 days, not 44 or 46, but 45 days, if not they had to pay a daily penalty. It seemed to work very well for everyone.

In fact many of us in Real Estate liked it so well that we had our Buyers pre-approved for homes on the regular market. As a Listing Agent, I could tell my Sellers that this Buyer is Pre-Approved for a Home Loan. We in Real Estate, the Buyer and the Seller all enjoyed the Home Buying Process more with less stress on the transaction.

It worked so well, that after a short time it became the Real Estate Standard to the point that Sellers (at least my Sellers), would not accept an offer from a Buyer that was not Pre-Approved.

This is a long winded way around to say, this is why you must go to a lender before buying a property, to be Pre-Approved by a Reputable Lender. Just another reason why you need an Honest, Experienced Real Estate Broker to help decipher and help you work through this not so simple maze and process of Home Buying and Home Selling in today’s volatile real estate market.

Will the Home Buying or Selling Process be worth it? A resounding YES! Remember: “Real Estate is the only Limited Natural Resource, with no Alternate Resource Available”.

You Can E-Mail Me Any Real Estate Question, I Am Always Willing To Answer Or Help With Your Questions, Problems Or Concerns.

larry@robertsonrealtor.com or Call: 909.983.2892