Archive for Real Estate


Nostalgic for that Face to Face

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Ever think about what real estate was like in the “old days?”  The days when the communication was basic and technology as we know it today didn’t exist.  Not wanting to be known as an old timer, I avoid places where the conversation starts with, “Do you remember when?” . . . “Wasn’t it great when we had a book with all the listings in it and you were forbidden from making copies of the information for buyers and sellers?”  Or, “I remember when we used to present offers directly-face to face to the seller.”  As we all know, those days have been vaporized.  Today’s version is, “I wish I could get a call back from the listing agent to let me know where my offer stands,” and “I wonder if my offer was even presented to the seller?”

Unbeknownst to our tech savvy agents of today is the time when buyer’s agents actually met with the seller & seller’s agent face to face to present an offer.  Yes, it’s true, this did happen.  And, I’d be remiss if I failed to mention the preparation that took place prior to a formal presentation.  A properly written offer was organized in such a way that when executed it would efficiently and effectively project an enthusiastic persuasiveness throughout the presentation.   Communication skills were a must.  At least then you knew where you stood because the seller and the listing agent had to respond, rather than hide behind a lost email, text and fax or voice mail.

Listening to agents at a recent business meeting took me on a journey to the past. I’m curious. What if as a company Seven Gables took a stand on behalf of every seller whose listing it represented, and required that any agent with a written offer had to present it in person - live and passionately, skillfully communicating with body language and convincing verbiage?  It would of course, require a skill set that so many are unfamiliar with today; you know, communication other than text, email or fax.  Everyone communicates, but few connect.  Ever heard the term, “Sometimes it’s difficult in email to express the emotion?”  Seems to me there is a reason we all learned to talk before we learned to write. Plain and simple, it’s more effective, persuasive and efficient.  A means to differentiate.

Any message we convey must contain a piece of us.  You can’t merely convey information. And you can’t merely be a messenger. Unless of course what you’re striving for is neither credibility nor a connection.  Let’s face it, everyone communicates. But how many of us truly strive to connect?

Promising Projections for the 2012 OC Real Estate Market Follow a Favorable 2011

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It’s been an interesting and encouraging year in Real Estate, especially in Orange County where the market has been on a consistent upswing. And contrary to what’s been continuously reported nationally by the media this has had a stabilizing effect on the market and is promising news for buyers and sellers in particular. As I have reported throughout this year, our markets have consistently shown a rise in pended sales, which reflects a higher demand for homeownership and ultimately affects the absorption rate which is a stability marker in most economies.

While it’s always best to approach our business with cautious optimism, I believe that the consistency we have experienced in nearly every market we serve for more than 12 months gives us great hope for the year ahead.

In the following video, I have provided you with details about the trends affecting our markets, what that means to you and what we hope to experience during the New Year.

As always, at Seven Gables Real Estate we are here to serve as a resource for you because “What’s Important to You is Important to Us!”

Statistics Support Seven Gables’ Continuous Stronghold in the North Tustin 92705 Zip Code

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According to TrendGraphix – the industry’s leading source for real estate market trends, Seven Gables Real Estate has a nearly 100% market share lead for total sales in the 92705 market – no price limit, over its next closest competitor from March 2010 to March 2011. A consistent sales leader in the North Tustin community since 1976, statistics also show Seven Gables’ dominance in the $1,000,000 and above price range for the same area, during the same time period with a dollar volume that exceeds its next closest competitor by 150%*.

According to company representatives, there is currently no other market in either the Central or Coastal regions of Orange County where one company dominates its nearest competition by such a wide margin.

“Seven Gables continues to gain strength and momentum through challenging times. How? By being innovative for the benefit of our clients. By striving to earn their trust every day. And by seeking to create excellence at every opportunity,” says President and COO, Michael Hickman.

“There is so much enjoyment and fulfillment to be had out of the opportunities we are given to represent our clients. Yet just as we must be here to provide them with the tools and knowledge that will give them every possible advantage in the marketplace, so too must we be here to provide an experience that is not only measured, but distinguished by service,” he adds.

For the past 35 years, the Seven Gables brand has been driven by a creative spirit and culture that is a standard bearer of the business. A creative spirit that has guided the company through challenging times, is its cornerstone of distinction, and exists to ensure that the company will continue to thrive in the future in every market condition. And remain innovative for the benefit of its clients for years to come.

With two offices representing Central and North Orange County, Seven Gables maintains a significant market share in nearly every community it represents including North Santa Ana, Orange and Villa Park.

Seven Gables also provides full service escrow, insurance and lending resources under one roof, and is affiliated with Leading Real Estate companies of the World® – - a global relocation network of 600 premier real estate firms with 5,000 offices and 150,000 sales associates in more than 30 countries around the world.

To experience for yourself, the Seven Gables difference, please call 800.955.7356.

*All reports are published Apr. 2011, based on data available at the end of Mar. 2011. All reports presented are based on datasupplied by the SCMLS or its member associations/brokers. Neither the MLS nor their members are in anyway responsible for their accuracy.Data maintained by the MLS or their members may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed. COPYRIGHT (c) TRENDGRAPHIX, Inc

In the Business of Selling Homes, Compassion is Critical

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I just read “What You Need to Know about Today’s Sellers: Financial Pressures,” from the California Association of Realtors® – a sobering, eye-opening and thought-provoking account of what’s happening in the market… today.

Here’s the introduction:
“Sellers in 2010 succumbed to financial realities with many selling their home out of necessity. During the tail-end of the housing boom, long-time homeowners that refinanced their homes and new buyers who purchased near the top of the market were both in unsustainable positions when housing prices began to decline. The average seller in 2010 owned their home for about four years.”

And then, some icy facts:

  • In 2005, the percentage of homes sold due to foreclosure, short sale or default was below one percent. 2010? 29 percent.
  • A Fannie Mae survey showed that in 2009, 55 percent of respondents owned their own home. That number fell to 42 percent last year.
  • Net cash to sellers was at a record low in 2010: $35,000, compared to $220,000 in 2005.
  • Of total home sales in 2010, a staggering 40.9 percent were considered distressed.

I think, now more than ever, it’s essential that we as agents and brokers must have a clear-eyed understanding of just what these sellers are going through. Yes, they are under financial pressure, but they are also under a great deal of emotional stress. These are our friends, family, neighbors and colleagues. No one is immune. We hear it in their voices. See it in their eyes. These are hard-working people who played by the rules, aspired to their slice of the American Dream and got caught up in a nightmare.

So to guide these shell-shocked sellers through a difficult process, I refer you to the three skills I alluded to previously: Education, Knowledge and Communication. We must continue to school ourselves on the facts of the marketplace as they pertain to distressed sales. Apply that information to the listings we may be working with and then clearly, concisely and compassionately communicate with our clients.

And we need to tell them that there is hope. Federal programs such as HAFA can make the process a little smoother and help with relocation expenses. Also, the fact is that after the sale, families will be leasing a home until such time they can purchase again. And in many cases, the home they rent will be larger, nicer and possibly in a better neighborhood than the one they previously owned.

Here’s the key:  We as qualified real estate advisors must assure our clients that home ownership is still a sound financial and emotional investment. Because when the dust clears on this unique and historic set of circumstances, the market will stabilize and families will once again be able to safely and confidently purchase a piece of Orange County to call their own.

And you’ll be the partner they turn to in trust, helping them to achieve that again.

Is Waiting Really Better Than Buying a Home Right Now?

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Every day I scour the internet looking for trends and real estate news.  Most of the time, I come across some really great articles. But more often than not, I find articles like this from CreditLoan.com. It seems as if bad news sells and the more “down” the story, the more readers flock to its sites and then make the assumption that the end is near.

The Wall Street Journal recently gave 10 good reasons why NOW is a great time to buy a home. I found them interesting and agree with them.  I don’t play the stock market and I’m not a financial analyst, but let me tell you why I think today is a great time to buy a home in laymen’s terms:

  1. Interest rates are at all time historical lows. This means that you can afford to buy more of a house than you could back in the late 80’s where interest rates were as high as 13%.
  2. You invest in your community. In this time of connectedness (thanks to the internet), establishing roots seems to have made a comeback.  Even local Realtors realize that being HYPER-LOCAL offers advantages to community growth.
  3. You will be buying a piece of the American dream. Homeownership used to be something to aspire to.  It told the world that you had made it.  Yet in times of subprime loans and the monetary fiasco we currently face, many people lost sight of that and started treating their homeownership like a crazy weekend in Vegas!
  4. Speaking of the crazy monetary market, if you had invested in Real Estate (assuming you didn’t refinance the heck out of it) your “investment” would have grown 43.4% in the last 10 years over bond and stock purchases according to MSN.com & Case Shiller.
  5. Sense of pride. Ask your parents why they bought their homes; for that matter ask someone that is over 55 and they will tell you the stories of how they scrimped and saved to buy a home so that they could have something that was THEIRS. Something that they could pass on to future generations.
  6. Building memories. Do you recall Thanksgivings at Aunt Bertie’s house or Christmas at Uncle Earl’s?  Do you remember the feeling of family, closeness and togetherness?  You can’t buy those, or pay for them.  There is something special created in a home.
  7. Tax advantages. Obviously you want to speak to your tax person, but here are just a few ways that you can benefit from owning your own home from HouseLogic.com.

What are your thoughts?  Do you believe all the hype or are you going to jump on the opportunity that is happening now? Whether you agree or disagree, I welcome your feedback!

The Wooden Floor

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Friday, I was on caravan for the city of Santa Ana with Sandy DeAngelis.  She is what I aspire to be when I decide to grow up! She is knowledgeable, resourceful, a true joy to be around and I am thankful to be a part of her Real Estate team. We started talking about Real Estate (what else is new) and then about community.  She then started to share with me about an organization that I had never heard of.  It is called The Wooden Floor. Have you heard of it? She started to bubble over with excitement when she was telling me about who they are and what they do for the community.  I couldn’t help but become inspired and look deeper into who they are.

The Wooden Floor, “Formerly known as St. Joseph Ballet was established in 1983 to serve underprivileged youth in Orange County.”  Watch an 11:00 minute video giving you a glimpse into their cause here.

Hard to imagine that Orange County, one of the richest counties in California would have such a need, but the need is rampant.

On Saturday October 9th, 2010, The Wooden Floor hosted “Keep the Promise,” a wine tasting benefit to raise funds for their community. One young lady involved in the program had the opportunity to give her testimony.  Her name is Meyby.  In her words:

“Through the dance program, I have excelled to the top level 10 class.  The discipline and focus in dance helps me in all areas of my life.  I am enrolled in the tutoring program that also helps me with my homework and keep my grades up. I don’t have to go through the difficulties my parents had.  Here you get to create a new future-one that has never been seen before.  Thank you for supporting The Wooden Floor.”

I was so inspired by seeing the power behind this program that I “liked” them on Facebook and now follow them on Twitter as well (@TheWoodenFloor).

This Saturday, October 16th The Wooden Floor will once again be holding auditions and it is reported that people will line up at the front doors starting at 4:00 IN THE MORNING.

Now there’s an organization filled with hope and inspiration.

Thank you Sandy for opening my eyes, yet again, to such a wonderful cause!

Buying a House? Where do you begin? Part One

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Real Estate…it’s not as easy as some people would like to believe it is.  Sure, you will always have your Do-It-Yourself types, and for a weekend project that isn’t too complicated, it’s a great way to save some money though I’m going to suggest that there are some things you should never attempt to do yourself.  Brain surgery comes to mind, as does filling a cavity or doing a root canal, and even reroofing your home or replacing all of the electrical wiring.

When you’re a buyer looking to purchase your home, there’s something you should know about the buying process.  One thing is that you need to hire a local Realtor with a good reputation that will help you navigate the murky waters of purchasing your home.

A good Realtor will have a vast list of contractor’s, lenders and home inspector’s that will make your life easier: a team of professionals that he or she is happy to recommend over and over again.

A buyers agent will sit down with you and have a “Buyer’s Consultation” and help you determine what your time frame is, if a short sale is a good investment for you, explain the contract to you so that you know and understand what you are signing, give you time frames for inspections, loan contingency removals, your final walk through, etc.

A professional Buyer’s Agent will have you sit with a reputable lender to discuss how much house you can comfortably afford.  This seems to be the scariest part of the transaction for some.  You have to have your credit “pulled” and find out what your FICO score is.  This will determine what your loan rate will be, which will in turn determine how much home you can purchase.

The lower your credit score, the higher the rate, the lower the price of the home you will be able to buy.  Make sense so far?

Next comes the fun part: getting in the car and actually looking at homes that fit your needs!  This can take some time so be sure that you are clear with what you need and want.  It will make it a little easier at the end of the day when what you want, matches what you need.

Stay tuned for part two!

Please welcome our newest Addition…Dan Shusterman!

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One of my primary responsibilities as President of Seven Gables Real Estate is to seek out the best and brightest talents in the industry—people with the right moral and professional compass— and invite them to join the Seven Gables family. It’s a task I relish, one I take very seriously.
It’s my belief that when we bring someone who is the right fit into our firm, we all benefit……and our market share statistics increase.
After several weeks of meetings, I am proud to announce that Dan Shusterman, a top producing Orange County Realtor for the past 12 years, has decided to leave the Coldwell Banker Tustin office and join Seven Gables.

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His track record speaks for itself. At Coldwell Banker, Dan ranked among the top two percent of sales agents nationwide and was also recognized as the number one agent in both sales and unit volume for the inland offices.
Dan’s remarkable real estate career began in the automotive-related industry. Focusing on customer relations and service, he built a strong client base and quickly became one of his company’s top sales professionals. That experience laid the foundation for the highly lauded national and international real estate career that followed.
His extensive market share that will now benefit each and every one of us, blankets North Tustin, Tustin Ranch, Orange and vicinity.
What drew Dan to Seven Gables? As a top producer who has been working on building his own personal brand, Dan wanted to align himself with a company that stood for the same ideals he does. One that has built a local reputation based on the work of its roster of superstar agents—people whose sales and service records, negotiation skills and personal reputations are well known and respected. In other words: all of you.
As Dan explained it, for his own personal and professional growth, he needed to join a firm that has a vision he can assimilate with. He needed to be surrounded by other like-minded agents who are part of—and contribute to—that vision. Brand was also important to Dan as well as customer service.
You are going to like Dan. He not only upholds a level of professionalism that distinguishes him as a Realtor, he maintains standards and core values that clearly mirror those upon which we as a company operate. It’s as certain as the sunrise that his reputation and industry leadership will make him an outstanding addition to the Seven Gables organization.
Dan Shusterman will be working out of our flagship office here in North Tustin. When you see him, join me in extending him a very warm Seven Gables welcome. His direct line is 714.665.7194; his email is dans@sevengables.com.
–Mike

Client Satisfacation is our Top Priority!

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I don’t know if you were aware of this, but here at Seven Gables, we have a Concierge/Client Services Center.  We reached out to our past clients and asked for recommendations on contractors, tax consultants, window washers, curtain makers, lawyers etc.  You name it, we probably have someone that was referred to us by a satisfied client.

Next we reached out to our agents.  We asked who had they worked with in the past that they would recommend again?  Someone of integrity, honest, reliable and priced competitevly.

Next we looked for two quality people that would have the commitment to answering any questions that come in from the community, offering their services, knowledge and expertise without a cost!

They answer the phone with a smile that can be heard on the other line, and they are ever resourceful.  I’d like to introduce you to them!
They are  Karen Cannon and Vicki Melin.

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Stay tuned for a great story about how our Concierge Services helped out our Marketing Director!

Go Green With Seven Gables for Global Awareness Week!

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