On Tuesday, a friend and I went to Roy’s for their Aloha hour.   Their happy hour pricing is extremely reasonable and I loved my Hawaiian Martini.  What was most impressive was the friendly service.  The wait staff made us feel welcome and appreciated.



Our Los Angeles neighborhoods offer so many unique opportunities to try something different. Last Saturday, I took George’s aunt to a cooking class at Roy’s.   The two hour class is  $45 per person.  We learned how to prepare four items, and after enjoyed the lunch we prepared (actually a feast). The class is in their kitchen, and was a fun way to spend a Saturday afternoon. The classes are sold out quickly and a different menu is featured each month.

You might also like: Glendale’s Brand Park, a Great Hike     Living and Loving LA 
The Viking Showroom Lunch     A morning at the Getty 
Los Angeles Spas     Farmer’s Markets – Foothills and Northeast Los Angeles

In April 2008, I conducted a poll on Los Angeles Real Estate Blog regarding the Americana’s initial pricing. I and the majority of my readers felt the initial asking prices were very ambitious for the market.   Unfortunately, the Americana chased the market, each time they adjusted their pricing, it was unfortunately too little too late. Several days ago, Natalie received this email:



Related posts: 3/2008: Glendale’s Americana, Grand Opening May 2008?
4/2008:  Condo Sales to Begin at Americana in Glendale
4/2008: Glendale Americana Countdown to Grand Opening
6/2008: Americana – Are The Lease Prices Being Reduced?
7/2008: Glendale Area Realtors Crowd the Americana Brokers Open House
8/2008: Americana Condos, How Can Caruso Sell Them? 
10/2008: Glendale Americana Condos, Going, Going, Gone? 
4/2009: Serious Price Reduction at Glendale’s Americana
6/2009: Americana’s Pricing and Incentives Continue to Attract Attention
9/2009: Americana Buzz
10/2009: Americana Condo Sales Update 
10/2009: Another Look at the Americana’s Asking Prices

The number of Pasadena homes sold in February remains constant but days on market increased from January. Average selling price and price per sq ft decreased from January.  Distress sales (REO’s and short sales) are up by one.  

Related Posts:     Pasadena 2009 YTD housing Stats     
2010 La Canada Real Estate Statistics good news, bad news
2010 Glendale Home Sales Statistics

I love what I do! Some days more than others but I do love what I do. It is especially rewarding when I can help some deserving soul.

One evening, as things were winding down for the day, Judy called me. Judy was 78 years old and had been referred to me by one of my best clients. Judy had worked long and hard all her life. She was a widow now. She had always paid her bills, had stayed out of debt and had accumulated a couple of million dollars and several nice pieces of real estate. She explained to me that she wanted to buy a condo at the beach, one with beautiful views and spacious rooms but she had run into a problem.

Judy had gone to her Big Name Bank, where she had a long term relationship with her private banker. They had helped her in the past but now that things were “difficult” they told her she did not qualify to purchase her dream condo, even with 50% down! It just didn’t make sense to her, or to me either. We dug in, got the tax returns and other paperwork we needed and with a lot of hard work and a little luck and know how, we helped Judy close escrow about 30 days later. That felt good!

A short time later Jack called me. Jack and his wife wanted to purchase their first home and they too were running into trouble. They had gone to their credit union and their Big Name Bank and had been turned down because he worked for four different school districts as a substitute teacher while he was completing his Masters Degree. They didn’t like the instability of him working four jobs. I thought it showed tenacity and he explained that by having four different school districts available he worked as much or as little as his schedule allowed him. He had a two year history of doing just that so we documented everything and got them approved. They moved in recently to their new home!

Mortgage Brokering can be a very challenging enterprise in today’s world. Heck, anything Real Estate related can be an adventure. But that is just how we look at it, an adventure, one to be embraced with problems and challenges to be solved!



I think if you’re going to do home loans in today’s environment, being a Mortgage Broker has a lot of advantages. For example;

·         A Mortgage Broker has several lenders to choose from

·         A Mortgage Broker can switch from one lender to another if problems arise

·         A Mortgage Broker can compare rates and underwriting guidelines at several different lenders to find the right fit for each borrower

·         A Mortgage Broker often has years of experience (many times having honed their skills at a bank or other direct lender) and can use those experiences to solve problems.

If I can help you, or anyone you know, with a mortgage related question or challenge, please let me know. I have been a Mortgage Broker for 25 years and as I said, I love what I do!

You can reach me at my office at 818-952-2726 or by e-mail at Floyd@bwaMortgage.com
BWA Mortgage

Floyd Walters

January vs. February Glendale home sales comparison:  

Distress (short sale and REO) sales have dropped from 16 to 10; days on market (DOM) have shortened by 3 days.  The number of standard (not REO or short sale) has increased slightly.  Unfortunately the average price per square foot continues its constant descent from October 2009 

Related Posts:   2010 La Canada real estate statistics, good news, bad news     2009 – How much are Glendale homes selling for?
DOM and CDOM

Doesn't this look lovely?  I am going to check this out next week. 

It's certainly a better real estate experience all around when both buyer and seller are improving their housing situation.  The real estate business has drastically changed.  More home sellers are moving because they can no longer afford their home.  Some owners seem to resent their buyer’s ability to afford their home.  And this can make the escrow process even more difficult for both home buyer and seller.

According to CAR's (California Association of Realtors) 2009 Home Seller Survey: 67 percent of California sellers sold their homes due to their inability to meet their mortgage obligation.   These are sobering numbers.

Related Post: Real Estate Stress

February La Canada home sales are nearly double of January’s 2010 home sales; and nearly double of February’s 2009 La Canada sales.



Average price per sq ft for REO and short sales are higher in February vs. January 2010.  The bad news is that average price per sq ft in February 2009 was $524 and in February 2010 $437 - nearly $100 decrease.

Related Posts: How much are homes selling for in La Canada? - 2009 YTD Stats       Why Realtors dislike short sales?

I worked in the mortgage banking business for over a decade.  I started as a floater and was ultimately promoted to Vice President Loan Administration. Although, I earned a  good salary I didn’t enjoy my job. 

I am a problem solver… I love helping people.  And have been so much happier listing and selling real estate. I have sold some very special homes to some wonderful people.  At the end of the day this is what my business is all about. 

Last week I successfully negotiated a sale (which took four days), showed two clients home, prepared two market assessments and Lisa and I co-hosted four open houses.  I was worrying about how I would get everything accomplished.  I then got over myself and realized my clients who are in the midst of escrows and moving are the ones with the stress.

 

Moving to a new home can be a wonderful experience, especially if the move is to your first home or to a larger or better home.  But don’t doubt for one minute that moving is stressful; in fact moving is ranked as of one of life's top three stressful events. 

 

Wikipedia’s list of top stressful events:

1. Divorce / breakup
2. Bereavement
3. House moving
4. Losing job
5. Wedding planning
6. Work
7. Kids / Family
8. Debt
9. Commuting
10. Studying for exams

 

Was it just two years ago, that Natalie planned a wedding and bought her first home? Then last year she topped it off with a baby.

Related Posts  Moving Across the Country      It's a boy, congratulations, Realtor Natalie  Natalie is married and I am swamped