Dine LA
January 29
Lunches $16, $22 or $28; Dinner $26, $34 or $44 

Pinot Noir Wine Tasting, Series 2 - Pasadena
January 28 at 3:30 PM
The Celebration of Pinot Noir and all things that go with it. Enjoy an afternoon while tasting a sumptuous number of wines. This is for the benefit of Hathaway-Sycamores Child and Family Services. $20.00

Cooking Essentials: Winter Fish Dishes-Pasadena
January 29 at 11:00 AM - 1:00 PM
Cook up this healthy, succulent ingredient in the dishes of Fall and Winter. $40.00

Visual Perceptions: From 3D into 2D at Norton Simon Musem - Pasadena
Analyze the shape and form of selected sculptures in the Asian collection, determining the positive and negative spaces. Using various materials and techniques, participants explore the transformation of a 3D object into a unique 2D drawing. All levels of experience are welcome. Each class is $20.00 ($16.00 for members), and space is limited to 18 participants. All materials and admission to the galleries on the day of class are included. Online registration is required.

Degas's Women: Modern Life at Norton Simon Museum - Pasadena
January 29, 1:00 PM - 2:00 PM
Join a Museum educator for a one-hour tour exploring the work of Edgar Degas. This tour is held at 6:00 and 7:00 p.m. Please note that space is limited to 25 participants. Sign up at the Information desk no later than 15 minutes prior to the tour.

Winter Fruit Tree Pruning- San Marino
January 28, 9:30 AM – 12:00 PM
Pruning is essential for good fruit production and for ensuring that a tree is healthy, attractive, and an appropriate size. Join Lora Hall of Full Circle Gardening on the Huntington Ranch site for an intensive morning workshop covering all the basics, including how to correctively prune a neglected or damaged tree. Members: $40. Non-Members: $45.00.

Children’s Workshop: Chinese Brush Painting - San Marino
January 28 10:00 AM – 12:30 PM
Children can learn the ancient and expressive art of Chinese brush painting in this workshop led by artist Peifang Liang, using the landscape and flowers of the Chinese garden and the exhibition of ancient Chinese bronzes as their creative muse. Ages 7–12. Fee includes one accompanying adult. Members: $20. Non-Members: $25.00



Mole Making & Beer Tasting Class - Silver Lake
January 29, 12:00 PM
Mole making and beer tasting class! And as you cook your mole, try samples our four home brewed beers and expand your knowledge of beer. For those who are not familiar with mole, it is a delicious Mexican sauce made of rich ingredients and spices like pastilla chilies, almonds, raisins, coriander, and CHOCOLATE! There are many varieties of mole, but they all have the same basic ingredient: chilies, which are ground into a fine paste with other spices. After it cooks up in a gentle simmer, the finished product is a rich, dark sauce that is traditionally eaten with chicken and rice. Learn how to make this great Mexican specialty at Tarascos during one of our hands-on mole-making courses. Impress your friends by making this scrumptious Mexican classic and have a beer too! You can also take home up to 6oz of your homemade sauce to your friends and family! $96.00

First thing each morning, I and most other Realtors check the multiple listing service.  We check for new listings, price reductions, solds, etc.  

Earlier this week I noticed a La Canada 3+2 on Angeles Crest Highway sold for $679,000.  Granted it's a busy street, but the home offers over 1600 square feet and is sited on a nearly 9,000 sq ft lot.  Kitchen and baths were from the 80’s, but a real value for someone wanting to live in the La Canada school district.

I thought it might be interesting to track the La Canada home sales under $1,000,000 for the last six years: 


Interesting to note that La Canada home buyers in this price range are purchasing larger square footage today than in 2006.  Also interesting is that the average selling price remains in the $800k range.

Third buyer: The offer and prequalification indicated the buyer was applying for and was prequalified for conventional financing.  They misrepresented; the buyer does not qualify for conventional and had to apply for FHA.  Although the buyer's loan was in process for over two weeks, the buyer's lender did not realize the condo complex was not FHA approved. (The lender simply checks this by going online and inputting the Association name, it's pretty basic).  

Fortunately, the buyer’s Realtor was able to have the buyer switch his loan to

SFV Valley Condo (representing seller’s heir):
Sigh… this is the probate with the title cloud.  After more than two years, I have another probate court appearance tomorrow and hopefully this time the attorney has everything together and the Judge will confirm the sale and we can close.

Sparr Heights Bungalow (representing the seller):
The journey to loan documents on this has been a real struggle.  The loan officer is either not experienced or indifferent.  At least he takes my calls.  The buyer’s agent has been great and we work well together. 

Our most recent “wrinkle” was that the lender ordered an automatic evaluation (similar to checking zillow) and the valuation came in low.  Perhaps because the computer module doesn’t understand the difference between Glendale High and Crescenta Valley or maybe the computer module doesn’t understand that homes in Sparr Heights sell for a higher $ per square foot than the surrounding neighborhoods.  

Anywho….. The lender ordered a desk review which is where a different appraiser reviews the appraisal and perhaps finds additional comparables.  The review appraiser cut our value by $4,000.  What happens next?  The lender allows a maximum loan to value based on the purchase price or appraised value whichever is less.   So cutting the value, cuts the loan amount, which increases the amount the buyer needs as a down payment.   Yes, cutting the value creates a problem.

The buyer’s agent forwarded a copy of the desk review to me.  In my former life, I worked in real estate lending and at one point in time, supervised our appraisal department. (see where an experienced real estate agent comes in handy)?

I examined the desk review and learned that one of the new comps used was not sold through the Multiple Listing Service (MLS).   I pulled the data from the last MLS sale (2001) and the remarks indicated that the fireplace was inoperable.  Voila!  No  credit should be given for having an inoperable fireplace.  And there was nothing to prove that the fireplace was fixed, so eliminate the credit or toss this comp.

I submitted the documentation and a cover letter to the lender.  The lender submitted to the appraisal management company.  The management company submitted to the review appraiser and I think we will be okay.

Glendale Short Sale (representing seller’s heir): 
BofA short sales are input online.  This is a very complicated transaction; there are two different sets of heirs.  One side is a short sale and a probate.  It’s been about a month and BofA's computer system has yet to understand that the owner is dead.  We talk to them but it seems their computer platform doesn’t have this option.  Lisa keeps reinputting the data and they keep rejecting.  But I have every confidence that Harb & Company will get this done.

La Crescenta Short Sale (Lisa representing the buyer): 
After 7 months, the 2nd TD holder has decided that they want a $40,000 payoff, which the buyer needs to pay.  The buyer has finally given up and walked.  Be interesting to learn at what price this home ultimately sells.  I think the 2nd overplayed their hand on this one.

La Canada Sale (Lisa representing the buyer):
The journey to loan approval is always a struggle, but we will get there.

Last week was challenging.  I have three new upcoming listings, but this post has been long, we’ll chat about those later (or call me).
 

Being a real estate agent is exciting!  There is the thrill of finding the perfect home, assisting a home seller in moving toward their future. But there are certain aspects that make my job more difficult than need be.

Peeve # 1: Not Returning Phone Calls

In any profession, we work with colleagues who can make our job easier or they can make it more difficult.  I continue to be surprised by Realtors (and sometimes mortgage lenders) who do not return phone calls.

It is unprofessional and rude to not return phone calls.  Lisa’s clients have been waiting eight months for short sale approval from Bank of America.  Obviously her clients want to be assured that the transaction is moving forward.  The seller’s agent does not return phone calls or emails.  We have asked escrow to intercede but he doesn’t return their calls either.   The only way we can get him to respond is to complain to his manager… I just don’t understand why some people think they are “too important” or “too busy” to take five minutes to extend a common courtesy. 

Peeve #2: Not Doing Your Job Impacts Me and My clients

I have been working on a probate transaction for over two years… the condo with the title cloud.  I represent the seller and in November, the buyer’s agent, buyer and I met the attorney at court for final court confirmation.  Prior to the court confirming the sale, the attorney needed to publish notifications in the paper.

Well the attorney “forgot” and buyer, buyer’s agent and I wasted the morning in probate court.  But this attorney is getting paid by the hour… and we aren’t.   I return to probate court this month and assuming the attorney has his ducks in a row, we should be able to close in February.