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85°C Coming to West Covina this Fall/Winter

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McIntyre Square 85C West Covina – JonathanChi.com

85°C (www.85cafe.us) is coming to the Mclntyre Square in West Covina (cross street of Citrus and E Garvey S.  Eater.com reports that 85 degrees will open in September 2012.  Mclntyre Square was recently re-constructed and many of the new business/restaurants are moving into the new shopping plaza.  

To be continued. . .

 
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Posted by on August 21, 2012 in jonathanchi

 

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It’s July 2012 – What’s Your Real Estate Goal?

It is officially the beginning of the third quarter of the year.  The mortgage interest rate is still SUPER low.  It is DEFINITELY a good time for Buyers and Sellers to reach their real estate goals!  Let my team and I know your real estate goals and we can help with Buy, Sell, and Invest in Real Estate.  Our result proven marketing strategy has assisted many owners with selling/leasing their homes.

Take a look at some of the homes that we have sold below and how we market them differently than anyone else in the same industry.

Real Estate Marketing for buying, selling, and investing by Jonathan Chi. Marketing fliers with video tour links and QR codes.

 

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Closing Costs Checklist

Many of the home buyers and sellers have questions about closing cost.  I just found a website called Closing.com that provides very easy to understand explanations.

Closing Costs Checklist | ClosingTalk.

Closing Tip Sheet 

 

 

 

 

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C.A.R. launches short sale website

 

 

Looking for more information on Short Sales in California? C.A.R. just launched a new Short Sale Web Site – http://www.shortsalecalifornia.org.

C.A.R. launches short sale website.

More to come…. 

 

 

 

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Renters Must Read! How to Prepare Applications that will be Accepted!

I have so far over 20 lease listings this year and a lot of times agents and applicants ask me how they can prepare strong applications that will be accepted by landlords. Actually, the answer is very simple – Follow the Instructions and be Straight Forward with the landlords.

Most of the time, the listing agent include the required document for application in the MLS remarks.  The common requirements are C.A.R. (California Association of Realtor) application or any formal written application form, recent credit report within 30 days that also show the credit scores, and most recent 2 pay stubs for income verification. Some rental agencies might charge an application fee and some might not.  The rental screening fee is usually between $25 to $50 a person.  (C.A.R. advised cannot charge over $30).

Other than the complete application package, it is very important that applicants or applicants’ agents communicate the intend of the lease with the listing agent/landlord.  A lot of renters now have or have been through financial difficulties and that is why they are renting.  Everyone has a different story and sometimes it is very hard for landlords to keep up with everyone’s reasons for moving.  It would be best if the applicants can send landlord a short letter of intend/explanation to accompany their applications.

Believe me or not, there are not that many good lease properties out there, and the good ones usually receive multiple applications.  By being proactive as the applicant definitely will increase the chances of getting your application accepted.

In addition, a lot of tenants might jump from agents to agents for rentals.  They might think that by going to the listing agent, there is a greater chance of them getting the lease.  There is no definite answer to that.  However, what I’ve found is that I like to work with agents that know their clients well.  Lease transactions can move really fast.  If you are thinking about working with an agent, you should find one that will represent you in the best possible manner.  Your agent should have your complete application file ready before you even go on showing appointments.  By doing so, you will not miss out on any homes that you like because your file is not complete.

Questions and comments are very welcomed!

 
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Posted by on November 28, 2010 in California, CA, jonathanchi, Real Estate

 

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Executive Estate Pool Home in Les Maisons Covina Highlands

http://2548Palomino.JonathanChi.com (Video Tour & Slide Show)
http://www.JonathanChi.com

Jonathan Chi
626-606-5716
J.Chi@JonathanChi.com

4 bedrooms / 3.5 bathroom / Pool & Spa / 4-car attached garage / Library & Loft

Zip Code: 91724, Covina, California

This home is located in prestigious Les Maisons Covina Highlands, a 24-hour guard-gated community of stunning residences. Remarkable executive home has been recently upgraded with new carpet, kitchen cabinets, appliances, and energy efficient windows. Freshly painted interior with ample wall space for your favorite d?cor and artwork. Newly renovated kitchen opens to the family room and dining area that overlook the gorgeous backyard and pool. Spacious master suite has a retreat with a fireplace. High ceiling over the formal living space with a toasty fireplace ? perfect for entertaining during your favorite events. Library on the ground floor that can be used as a study or office. Loft area on the second story can be used as a second family room or game area. Guest suite located on the first floor. Bring your patio furniture to enjoy the lushly landscaped backyard with a pool, spa and fantastic view of the mountains, rolling hillsides and city lights. 4-car attached garage.

 

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What is a short sale?

What is a short sale?

If you purchased your home during 2005 to 2007, the chances of you having equity in the house is very slim. When you are selling your home for the current market value that is lower than your current mortgage balance, the sale is defined as a short sale.

Benefit of Short Sale

Avoid Foreclosure
Impact less on credit scores
Will be able to obtain financing again for a home in less amount of time than a foreclosure on record

Why do people short sale their home?

Financial hardship

Many home buyers had a ARM (Adjustable Rate Mortgage) when they purchased the home. Many ARM’s are about to adjust or have already been adjusted. If home owners cannot afford the new mortgage payment, they sometimes choose short sale the house.

Joss loss

The unemployment rate in CA is about 12.4% (http://www.labormarketinfo.edd.ca.gov/). When someone loses his or her job, it is very natural that he or she chooses to short sale the house.

Life change

When someone is relocating for job but don’t have equity in the house, they will need to short sale the house unless they want to come out with difference in cash.

Who’s paying the real estate commission?

The first lien holder

Key Points & Reminder

Most homes for sale in the market now are short sales.  The only thing short in the transaction is the amount owed to the mortgage lien holders, not the time of transaction or the sales price of the home (home needs to be sold at current market value).  Home owners short sale their homes because of many reasons but their common goal is to avoid the FORECLOSURES of their homes.

Finding a REPUTABLE REAL ESTATE PROFESSIONAL that will work for your best interest on a short sale is very important because there are many technical factors involved in the transaction.  Home owners should consult with tax and legal advisors before committing to a short sale because tax and legal ramifications might be involved.  In addition, keep in mind that not everyone will short sale their home and walk away owing nothing to the bank.  Most of the time, the bank will issue a unsecured note against the borrower(s) due to borrowers’ different circumstances.

Finally

Home owners sell their home for many reasons.  Unfortunately, many of the home owners today are selling their home short because of the unstable economy.  There is no shame for a short sale, but home owners need to be very clear with their expected goals and the outcome – AVOID FORECLOSURES.

Short sale is not a magic gateway to walk away from the house free but a way to solve current financial difficulties and save your credit for the future.

I cannot stress enough on the importance of finding a reputable agent because of the technicalities of the transaction.  You need to find someone that will work for YOUR best interests.

 

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