Eric and Kathie
Eric and Kathie were excited when Skyla was born in June. They had purchased their home just a year before that. It was perfect for them and their dog Maka. Soon after moving in Kathie became pregnant. It became apparent that a home more suitable for a family was a necessity. But they had to wait because of the IRS 2-year ownership regulation to avoid paying taxes.
During November a property came on the market that was perfect for them. The house was vacant and had been reduced in price. They realized that this was an opportunity so we negotiated a long escrow giving them plenty of time to re-finance their existing house. They used the equity from the refinance for a down payment on the new house. We suggested leasing their previous home for a short term. The rent received would cover most of the payment. They would then put the house on the market in the spring to accommodate a June closing.
They moved from a 2100 square foot 3-bedroom home to a 3400 square foot 4-bedroom plus bonus room. The sale of the previous home would be about the same price they paid for their new home (because we negotiated such a good buy)! This is the type of real estate consulting that we provide to our clients and their referrals.
Paul and Martha
We’ve known Paul and Martha for many years. In fact, we watched their two little girls grow up from the time they were in elementary school. One daughter went away to college and then decided to continue her education by obtaining her Masters Degree. Their other daughter, Ann, went to a local community college and worked as a lifeguard on one of California’s most pristine beaches. Everyone celebrated as Ann obtained her teaching credential and got her first teaching position nearby.
We met with Paul and Martha to discuss their future, as retirement wasn’t too far in the future. We provided them with ideas to improve their current home. Those kinds of projects Paul could do as they made their home ready for sale in the years to come. We also discussed where they wanted to go when they retired. Naturally they were concerned with the future cost of housing and really didn’t want to radically change their lifestyle.
When the time was right we found a wonderful 3 bedroom home nestled in the hills of San Clemente. It is a darling home with a fantastic view from the backyard. Paul and Martha bought this property with an agreement with Ann. They would buy the house and Ann would be on title with them. Ann would live there and with roommates, make the monthly payments. When Paul and Martha are ready to retire they’ll move into the house. From the proceeds of their previous home they will gift the equity in the San Clemente property to Ann. By that time Ann will be established in her career and be able to get a loan on her own. She’ll have the cash to put down on a home of her choice.
We look forward to helping Ann find her next home and sitting in the backyard sipping lemonade with Paul and Martha.
Stuart and Carol
The phone rang and it was a senior executive with a Fortune 500
company. He needed help with the relocation of a family that had been living and working in China. Rather than using the relocation company's realtor referral system the executive referred the transferee to us. He knew the kind of care and detail we offer to all of our clients and this family needed some extra special help.
Stuart and Carol had been away for over 4 years when a job opportunity became available in Irvine. They had been living in an American compound in China with household help, a car and driver and an interpreter at their disposal. The children went to private schools and they were living the life of many ex-patriots. Moving back was a big transition. Carol hadn’t driven in over 4 years and the California freeways were a concern.
After we corresponded via email we began looking for homes that would fit their criteria. Every property was video taped along with the neighborhood. Information regarding schools, recreational amenities, houses of worship and area conveniences were sent in detail. When the family arrived on their first house-hunting trip we had narrowed down neighborhoods.
We found a great house in a family neighborhood within walking distance to the elementary school. Before a contract was signed we met the school principal and even reviewed the classroom textbooks. We met the neighbors and spent sometime driving to the local shops.
The house was in need of updating. Once Carol and Stuart returned to China we got busy obtaining bids from vendors and sending samples of paint and flooring. We took measurements of windows so that draperies could be made in China then installed in their new home here. Applications for utilities and even banking were sent for their convenience. When they moved in everything was ready.
Our services continued with referrals for dentists, doctors, cleaning services and even where to buy a car. It was really a surprise when they called and asked us to help them buy a dog!
Susuan
As single mother with two young children Susan had a dream. She had hoped that one day she would own her own home. She had been working hard since her divorce but it was hard to save the cash for a down payment. Susan didn’t have the money for a down payment or even the closing costs. She did have the passion to become independent and start building a financial future for her and her children.
When we met Susan we set out to find a house for her family where the monthly payments were close to what she was paying in rent. We knew we had a challenge ahead so we began by introducing Susan to a lender who pre-qualified her. There were some issues on her credit report so we began counseling her on how to improve her FICO scores. She began following instructions and within a month she had improved greatly. Now she could qualify for 100% financing. Susan was now pre-approved and ready to buy her first home.
There were lots of buyers were in the market and there were multiple offers on homes the minute something became available. We knew that using the traditional MLS wasn’t enough to find a home. We began by contacting all the real estate agents in the area telling them about Susan’s needs. We sent out letters to owners of homes not on the market for sale. We watched every property that came on the MLS and called to show homes that were taking “back up offers”. At our weekly office meeting we heard of a property that had fallen out of escrow. It was a 2-bedroom town home with a loft. It even had a small-enclosed yard and was in a great area with award winning schools. With minimal remodeling the loft could become a 3rd bedroom.
The sellers had planned to close escrow in 2 weeks when their buyer lost his job and had to cancel their escrow. They had purchased a new home and were in jeopardy of losing it without a speedy sale. We showed Susan the property that very morning and by noon had written a contract. We asked the sellers to pay Susan’s closing costs and in return we would close escrow in 2 weeks.
The children each picked out their bedrooms and now Susan and the family are enjoying being homeowners not tenants. Susan has made a significant step toward her financial independence. Way to go Susan!
They drove up to our Open House in a convertible and came inside being very scrutinous of the house we had for sale. It was obvious right from the start that Miki and John knew exactly what they wanted and this house wasn’t it.
John asked us lots of questions and we talked for almost an hour. When they left we had set up a time to meet at their house and discuss some real estate plans. They had lost some money in the stock market and wanted to build equity to offset the losses. In just a few days we created a marketing plan for their current home and shortly thereafter we had it in escrow.
We went house hunting almost daily and nothing seemed to fit. We mentioned to them that we saw a house near the beach that needed some fixing up, something they hadn’t considered. It did have a big yard with a huge pool and was minutes to the beach so they reluctantly looked at property. John’s reaction was unenthusiastic but we spent time imagining what could be done. We returned several times each time with some new ideas.
Russ and I offered to help them with the remodel. We gave them the names of contractors, painters, etc. and before long John and Miki were sold on the idea of fixing up the house. What a job they did! When they were done the house looked like a model home. They did such a good job that we sold the house within a year from their purchase. They offset the capital gain with some losses from the stock market. They had made a nice profit.
The next property was lovely and only needed a few touches that John and Miki were very comfortable doing. However, the house backed to a major street and the noise began to bother them. We suggested that they sell that house immediately while the market was strong. We agreed on a sales price but when it came time to sign the listing agreement we suggested we raise the price. John and Miki were elated. In just a few days of our marketing blitz we had multiple offers and sold the property for more than asking price. Another cash windfall and more offset capital gains.
It was a sellers market and finding another house was going to be tough. We began searching and found a home that was not yet on the market. We got the sellers to let John and Miki into the house before anyone could see it. They now live in this home and have remodeled the kitchen and baths. John’s added crown molding and installed new windows and doors. Miki and John have found an interest in remodeling and they have developed a keen eye and excellent taste. We think they’re going to stay here for a while, they like the neighborhood and the quiet cul-d-sac.