Author Archive

Short Sales? Don’t You Mean Long Sales?

The term “short sale” was hardly even heard of 4 years ago.  The name alone is so ironic in that it usually takes 3 months to a year to close.

Most Realtors® won’t even show them as now a days you are lucky if they close at all. They are without a doubt the most frustrating of all sales. Still I guess we will be forced to live with them until someone let’s the lawmakers know that enough is enough.  We need regulations and rules.  Realtors are either getting rich or running for the poor house.

Fannie Mae recently passed a regulation that prohibits banks from negotiating the buyers commission or reducing them. A small but great victory for buyer’s agents who are at the mercy of the listing agent.  Most of the time they offer 2.5% – 3% and state on the MLS that if commissions are reduced they are split 50/50.

Well I guess we have to take the word of the listing agent and their escrow officers on this.

I recently had a listing agent tell me that they reduced the total commission to 3% and I was to settle for 1.5%. She then accidentally forwarded me an email from the bank negotiator, who allowed a 7% total commission.  Talk about dishonesty and greed.  Unfortunately it is very prevalent in this market.  I did manage to get my 3% but with a lot of Broker to Broker combat.

How I long for the old days. Continue reading this post


Posted by: Peggy Aldinger on September 27th, 2010 under Short Sales and Foreclosures


Light at the End of the Storm

Well, I am finally beginning to see some hope that we have weathered the worst of this real estate storm. 

The numbers are increasing for buyers in the Orange County and Riverside, California area.  I have had to chase buyers by opening up a new office in the Riverside area. The Orange County market was confined to REO listings and buyers being stamped out by multiple offers on every bank owned property. 

Unless the buyer could come in over asking price and with a desirable loan most Realtors were wasting theirs and their clients time.

I am still very busy in the Riverside area.  REO homes are still plentiful and fairly easy to get.  Some banks are  still paying closing cost and offering high commissions to Realtors.  I have completely stopped taking private listings in Orange County because of the REO competition.  Now, however, I have started up again due to the numbers finally falling for foreclosures.

I have learned a lot by sticking it out and not quitting.  I feel the agents that have stayed are very lucky to have gained the experience and adaptability that will ultimately lead them to their future success.  

We have all had to toughen our shells a bit but, the future looks brighter for all.

Peggy Aldinger is the President of Pacific Grove Realty & Loan in Irvine, California.

View Riverside homes for sale and search Riverside real estate.

Check Orange County home prices and Riverside home prices.


Posted by: Peggy Aldinger on June 6th, 2009 under Regional


Irvine CA Real Estate Market Update

As a Realtor in Orange County I am seeing a lot of change in buyer behavior. I am working with more home buyers than ever. The problem is getting them a home.

No, that is not a typo.

I have been putting in offers almost weekly and only getting 10 percent or less accepted. The reason being is that REO agents are getting creative with the way they present their offers to the bank. If your client really wants the home they should come in with a strong offer, either at full price or very close to it.

The REO agents are listing at low prices to get multiple offers. The banks are taking the highest offers most times without countering back. That leaves a lot of home buyers in the Irvine market with a bad taste in their mouths and questioning you as a real estate agent.

If your buyer is qualified to buy a home for $400,000 for instance don’t look at homes over that amount. You are better off looking at homes in the $350,000 range so you have a little room to barter with. This housing market seems to change on a weekly basis.

There are deals out there, deals galore and there are lots of buyers to buy homes in the Irvine area. Most of the buyers are in the lower price range and qualifying through FHA and taking advantage of Continue reading this post


Posted by: Peggy Aldinger on July 17th, 2008 under Regional


Who says there is no FREE LUNCH!

I just wanted to start a random act of kindness for all of our hard working Realtors. I am going to give you all the free things I have found on the web and use all the time.

If everyone could add a service and not be afraid of sharing good secrets, we can all benefit. After all, we are all in this together. Let’s all share what we have found!

1. Lowes Site for Realtors: Lowes sends out a 10% discount coupon along with other offers in a classy postcard with your name and photo/logo to all of your clients. I love this one.

2. BDTV: Offers Realtors® free TV excerpts for their site with Designer, Moving, Recipes, Travel and more.

3. Picture Resizer: Free software to reduce the size of you photo files for use in the MLS and the web.

4. Mortgage Rates: Up-to-the-minute mortgage rate running live on your web site. Continue reading this post


Posted by: Peggy Aldinger on March 24th, 2008 under Technology


Foreclosures, Short Sales, and REO’s, OH MY!


The Orange County real estate market now consists of mostly bank owned properties for sale.

The banks are scrambling to rid themselves of this massive inventory. Listing agents are presently allowed to list at whatever price they want and a lot of them are listing way below market value.

This doesn’t mean the banks will take this low offer. In fact, I can almost guarantee they won’t. Unscrupulous agents are doing this just to get offers in and scoop up buyers (new clients).

I am seeing multiple offers on REO’s to be the norm right now, any where from 90 to 180 days or more for the banks to get back to the offerers.

What does that mean? Continue reading this post


Posted by: Peggy Aldinger on March 14th, 2008 under Market Trends, Regional, Short Sales and Foreclosures


For Real Estate Agents

Online Marekting Solutions

For Home Buyers and Sellers

e.g., 1250 S Main St, Burbank, CA or 91506
     Search Foreclosures    Search New Homes    Search Rentals    

Blog Categories

Blog Archives

Real Estate Blogs

Top Articles

Recent Comments

Guaranteed LeadsReferral Lead ProgramListings PackageVisits to your WebsiteFind REALTOR®Homes For SaleHome Values