The Tolucan Times » JPPerron

Reality “Check – Please”

JPPerron — Wed, 04 Mar 2009 15:09:54 +0000

Let’s take a good hard look at ourselves. I mean each of us looking at our own self. Face facts. Who do you consider when you do taxes? Pay mortgage or rent? There are certain realities that affect us all, plus certain facts that only apply to you. Take a survey of your personal reality, get your facts straight, and then decide what to do about it.
Do you own a home that is “upside down?” Do you live in it? Want to keep it? Would you walk away if you could? Will you owe taxes? Would you be able to buy again? Will you qualify for loan modification? Will you go bankrupt? How much income do you have? How many bills do you have?
Your family and friends care – but their advice are probably not professional and could be totally wrong! Do they know that a short sale of investment property is not taxable if the owner is insolvent? Can they define insolvent (it is not the same as broke)? Did they mention that foreclosure will lower credit scores by hundreds, but a short sale lowers it approx. 110-120 points?
If you have answered correctly – you win! You have control. First, check with a professional. Second, have them do the math. Third, check your feelings, and check with your immediate family. Do the best thing… If you want advice, check with me for a free consultation. For your sake, deal with reality. Check… please. You have options. Choose the best one.

“J.P.” John Perron – Certified Distressed Property Expert
(626) 625-7123
JP.Perron@hotmail.com
Capital Advisors Professional Group LLC – Real Estate Professionals www.thecapg.com

It’s as Easy as Getting Back on a “Cycle”

JPPerron — Wed, 25 Feb 2009 16:29:21 +0000

Wanna know how to double your money in Real Estate? How about buying a home at 33% off? Let’s go to school. We will use history as a guide. Do some Math. Study a little bit of Geography. Brush up on Economics 101. But, first a Spelling lesson – can you spell C-Y-C-L-E?
Historically, Real Estate and U.S. economics have followed predictable cycles. They are typically 12 years long, give or take a couple of years. Home prices have followed a pattern during previous cycles. The price doubles – and then (look around) they drop by a third. (Don’t want to scare you with Algebra.) So 2 times 2 equals 4, 4 divided by 3 equals 1.33. If you purchased at the bottom portion of a cycle for $200,000 and it doubled to $400,000 then dropped by $133,000 – it is worth about $267,000.
Here is the best part. Are you ready? Homes have dropped by a third and what comes next (oh, did I forget to mention there is a quiz) – they should start a new cycle and double in value!
If you are buying your first home in Southern California, you get 1/3 off! If you bought in the 1990’s but missed selling at the top of this cycle, and need to sell so you can buy a better home (or location), you still made a lot of profit. Pour it into the bottom we are hitting and ride the cycle. It’s like riding a bike. It never changes.
Next time: Investment Property Short Sales – with No Capital Gain Taxes?!

“J.P.” John Perron – Certified Distressed Property Expert
(626) 625-7123
JP.Perron@hotmail.com
Capital Advisors Professional Group LLC – Real Estate Professionals www.thecapg.com

Banks as Victims? Bait and Switch: R.E.O. – O.B.O.

JPPerron — Wed, 18 Feb 2009 15:28:17 +0000

If it sounds too good to be true, it’s not true! Suddenly, many of the properties listed for sale around town are reduced not $50,000, not $100,000, not even $200,000 off but actually $300,000 or more! Bull-oney!
Some real estate agents have decided to tempt people by pretending that REO (Real Estate Owned) bank foreclosures are available for purchase at unbelievably low prices. The worst part is that other agents fall for it. Have you seen it yet? A great house is listed at $499,000 in a fantastic location. You rush over to check if the roof is caved in or maybe the doors were packed up in a U-Haul by the evicted owners.
Lo and behold, it is a great house. You call your agent to make an offer immediately but then you learn that “they are not taking any offers.“ There are ten offers already and they are all above the asking price. Well, let’s offer more! Okay. Not Okay. The home has an accepted offer above $700,000! It happened in my neighborhood. The original price was actually the opening price for an online auction. Was that house offered for sale at a price anywhere near the market value? The bank never knows how much it could have sold for.
People tell each other you can get a great house for $499,000. Agents tell each other that everything is in multiple offers. Yeah, and your Ginsu knives are yours for free (send $300,000 shipping and handling). Tactics like this only add to the trouble we have selling our homes.
How can it be true that most homes are available at unbelievably huge discounts if they are not actually available at that price when we show up to buy one? Call a Certified Distressed Property Expert (CDPE) for an explanation, or just to complain, at (626) 625-7123.

“J.P.” John Perron CDPE
(626) 625-7123
JP.Perron@hotmail.com
Capital Advisors Professional Group LLC – Referral Network of Real Estate, Legal, Investment and Appraisal Professionals www.theCAPG.com.

Scam Alert Fakes, Fixes and Fly By Nights

JPPerron — Wed, 04 Feb 2009 16:39:47 +0000

It’s that time of year again. Our mailbox is filling up with offers to save our home, plus official looking documents instructing us to mail a check for tax appeal reassessment because the “estimated market value” of our home has dropped over 70%. As a licensed appraiser, I realize that it is illegal to give estimated market value without a license. Not to mention that they claim a Tolucan home is worth only $216,000!!
One problem – these fly by night fakes do NOT have the appropriate licenses. The authorities’ main line of defense against fake fixes is to suspend or revoke a license. Who can help defend us against fraudulent offers that falsely claim to “Stop Foreclosure” and “Modify your Mortgage” or “Reduce your Taxes”? The best defense is to always use professionals with a history of ethical practice. Ask to see a copy of their license – call the Dept. of Real Estate.
An attorney’s license will be hanging behind their desk. An appraiser will be happy to supply a copy BEFORE you pay a single penny. A veteran broker can proudly give you the history of the company – like Broker Associate Aida Poladian’s 35 years at the same Toluca Lake location.
Oh yeah, these folks also have Errors and Omissions insurance to protect us – them and YOU!
For loan modifications, attorney Tamar Poladian-Perron Esq. personally handles every case, starting with the initial consultation. As President of The Appraisers Office, I provide her with accurate appraisals. As a Certified Distressed Property Expert (CDPE), I will also assist her if a “Short Sale” listing is your best solution.

“J.P.” John Perron CDPE
(626) 625-7123
JP.Perron@hotmail.com
Capital Advisors Professional Group LLC – Referral Network of Real Estate, Legal, Investment and Appraisal Professionals www.theCAPG.com.