The last 30 days have been especially challenging for Harb & Co.; Lisa and I had four escrows cancel.  I have been selling real estate for more than 20 years and have never lost four real estate transactions in a 30 day period.



#1. Client purchased home in Pasadena Bungalow Heaven and then learned through inspections that the fireplace was cracked & sewer line needed to be replaced.  The chimney estimate was $17,000 and the seller offered a $2,000 credit.  Result: buyer canceled, home is still on the market (and since reduced $14,000); had the seller credited my client the $14,000 she would have closed escrow.

#2. Found same client a darling home on a La Crescenta cul-de-sac. Did the inspection, no insurmountable problems.  Received an email from the seller’s real estate agent advising that the seller ordered an appraisal and it came in higher than the purchase price.   I am not clear why the seller waited until after he accepted our offer to order the appraisal.

The home was on the market over a month before the seller accepted our offer.   So what is the value: what the appraiser thinks or what a buyer is willing to pay?  And no, the seller can’t legally change their mind.  But does the buyer want to sue the seller to perform? 

After a scathing email to the seller advising that I would sue for my commission in small claims, that the buyer wanted her inspection fee paid, as well as one month’s rent and storage fees, the seller agreed to honor our real estate purchase contract.  We closed the escrow and my client has moved into her home.  

#3 & #4 Lisa’s had two buyers back out of escrow after inspections (one buyer Lisa has back in escrow and the inspections thankfully been negotiated and they are moving to closing).  #4 is still looking. 



*And that stupid condo in the San Fernando Valley with the title cloud.   I don’t know if it will ever close escrow.  I have had the listing two years (sold it twice, first buyer got tired of waiting). It’s a probate and we finally have a court date in September.  Part 2 of the problem is that the court appraiser overvalued the unit, because he checked Zillow!  Can’t understand why we need a court appraisal if all he does is check Zillow.  He didn’t even look at the unit but charged the estate $300.  Sigh….

*Lisa’s BofA short sale – Over three months and still no investor short sale approval, although two weeks ago, we received a counter offer.  BofA will pay termite repairs but not home protection plan (but still need investor approval).

And on a more optimistic note, I have listed a top floor condo in Glendale with mountain views; it’s been freshly painted and I have convinced the seller to install hardwood floors before we market it.   It’s a tough real estate market and home sellers need to put their best foot forward.

And last but certainly not least, last month Natalie has given birth to a beautiful daughter, Bella.

So, who is today’s home buyer? 

First Time Buyer A contacted me from the Internet over a year ago. Canceled two previous escrows due to inspection difficulties, Lisa has persevered and the third home resulted in negotiated credits and we are moving to closing.

Move down Buyer B, acquaintance and past client.  Just moved in.

First Time Buyer C, referred from past client.  Waiting on BofA Short Sale official approval and then inspections.

There is still an active and viable real estate market, particularly with more affordable homes for first time buyers and move down buyers.   Thinking of selling your home valued at under $1,000,000, we have a variety of well qualified buyers… Call me to discuss.

At the end of the day, interest rates are ridiculously low, prices are down.  If you don’t buy a home in the next two years… I don’t know how it will ever happen.

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