Running Realty

A Breath of Fresh Air and Renewed Faith

2012-01-25T17:03:00.000-08:00

It's not often that a hard nosed cynic like me experiences a moment of renewed faith in my fellow man.

About a year ago, I received a call from a gentleman in Maine who was interested in purchasing a piece of land adjacent to his. The problem was one of communication with the owner; he was in California. In fact, he lived within walking distance from my office.

Thanks to my internet presence, the gentleman contacted me and asked if I would communicate his interest in the property to the owner. He offered me $1000 if he got his price or $500 if he had to pay more.

Without giving it any thought, I quickly jotted off a letter explaining the particulars and put it in his mailbox.

About a year later, out of the blue, I received a call from the Buyer telling me that he had indeed bought the property, paid a bit over what he wanted and as promised, wanted my mailing address so he could send me a check for $500.

This kind of behavior is rare in my world and it was so uplifting to me. I just felt the need to express my joy, not so much in the money I received, but by the honesty and integrity that still exists in the world.

With all the problems we all deal with, sometimes it does rain manna from heaven!

Know What We Do Not Know!

2011-05-26T15:15:00.000-07:00

As a practicing Realtor in the most litigious state in the nation; I along with my fellow practitioners of the Real Estate trade are besieged by the legal practical realities associated with buying and selling property.

As any agent will (or should) tell you. Real Estate agents are NOT Lawyers, CPAs, Architects, Appraisers, Geologists, Home Inspectors, Contractors, Plumbers or Seismologists. Yet on any given day and in any given transaction, we are expected to Know What We Do Not Know.

There are so many realty do's and don'ts that it is a wonder that every deal doesn't end up in arbitration or court. We are required to know every disclosure, mandated by law, and yet we must walk the fine line between what we know and can not say, and what we can or must say but really should not. It is folly to believe that, all this can be accomplished without blurring or crossing the line between reporter/observer and expert/professional. Either way, the risk is always there, lurking in the back of our mind.

If you've ever bought and sold a home in California, you know the sheer volume and weight of endless and redundant disclosure. News flash, we're not expecting any document reductions any time soon.

We carry a heavy burden. The home buying experience is as painful as childbirth (so I'm told) and as stressful as divorce (so I'm told). Actually many transactions are conducted during and immediately after both of those scenarios. I guess I should throw in that we are not Psychologists as well but then, I know better than to make that claim.

We are just well intentioned people; we are Realtors, first and last. We are referrers of the highest order. All we know is what we do not know. And I have a disclosure for that too!

The Lame Game. Banks run roughshod over Regulators!

2011-04-23T17:26:00.000-07:00

It's the end of the first half and the game is in the bag. The big banks it's seems are not only to big to fail, they are too big to be brought into compliance by the Regulators.

How polite can we be? We all know that the banks, when left to their own devices, always act in their own self interest. So here we are again, watching the Regulators give away the farm. Bankers heal thy selves; sure thing.

I haven't seen any fines or penalties imposed yet. Don't count on seeing that happen any time soon.

Remember this whole mortgage fiasco that nearly brought down our financial house? I join in asking the question of every rational, logical, ethical and moral citizen of this great land. Why hasn't anyone gone to jail? This is crime time and somebody should be held responsible for this. Tune in to see the new banking realty game show, "The Lame Game". But don't believe the ratings. It's sponsored by Moody's and S&P.

Acronyms. the Final Frontier!

2010-05-14T12:23:00.000-07:00

I can't think of any other industry that utilizes acronyms more than the real estate business. We've got an acronym for every detail of work and every program coming down the pike.

Here are but a few acronyms that we use everyday to simplify the real estate transaction.

RESPA,HUD,BOM,COE,RPA,TDS,HAFA,HAMP,BPO,REO,NOD,NOS,LTV,DOM,WPA,AD,MOT,FISBO,SSA,CTNL and about a thousand others.

And you thought that real estate agents were overpaid to sell your home. The fact is, we are constantly being forced to change and modify everything we know every 30 days and we have to do it in shorthand.

If you can't go thru my list without being stumped, then you need to find yourself an agent who can. Especially if you are an agent.

So remember that agents are people too. With too little time to do so much for too many people. Hence the acronym.

Well I'm off now to TCOB. BFN. OAO.

Mini Trailers- The New Urban Blight!

2010-03-17T12:53:00.000-07:00

I don’t have to ask if you’ve seen these obnoxious mini trailers parked all over our cities and towns. Once again creative marketers have found a way around the bans and restrictions on advertising. City legislators have done little or nothing to stop the proliferation of these unnecessary, distracting and generally obstructive little devils.

As of yet, I have not seen them being used by real estate agents, but I can’t imagine that they are not doing so, or at least contemplating it. I guess the law is vague enough to allow them to park these little trailers without any financial recourse.

I understand the attraction of them. For a modest investment, you can strategically place them in high traffic corridors and get FREE advertising at no cost. Just buy the trailer and off you go.

If we don’t put our collective foot down and ban these little gremlins, I’m afraid they will continue their unrelenting encroachment on legal street parking, such that it is, and multiply like a bunch of mutant tribbles. We need to let our government officials know that we find this affront unacceptable and demand the total ban of these street demons.

Are you with me?

The Mysterious Disappearance of the Status Quo.

2010-02-23T17:31:00.000-08:00

The mainstream media is so quick to point out change that too often issues and actions take a backseat to the now. The market is up today because of a fed announcement. The market is down the next with a bad jobs report. New homes sales increase, feel the updraft. Existing home sales slow, and down we go. Events cannot even take place before we have all the talking heads telling us what we saw. Oftentimes, we are now being told what to expect before the events unfold. "500,000 die in tsunami, wait a minute, that's 750, no 57." You get the idea. Or you don't. If you don't get it, someone will give it to you. There is no middle ground anymore. The Status Quo as we know it no longer exists. We've lost the present to the fleeting past and the onrushing future. We have lost time. Time to live, to enjoy and appreciate.

There's no time like the present. There's - no - time - like - the - present. That's because the present does not exist. All this convenience and speed of information has created mental morass and intellectual gruel.

We are trapped in the between, another dimension on the border of dissatisfaction and disorientation.

I say BRING BACK THE STATUS QUO. Let us relish in the moment, wander among the stars and cherish the next breath we take.

"Ad Hoc, Ad Loc & Quid Pro Quo, so little time, so MUCH to know!"

All Hail the STATUS QUO!

All the way home!

2010-01-18T14:52:00.000-08:00

You have to wonder about the wisdom behind the dismantling of the Colfax Avenue Bridge in order to put up...you guessed it; another bridge! OK so it will be newer and probably stronger, although the old bridge looks like it could have stood for another 50 years or so with maybe some resurfacing every few years.

It's projected to take around 2 years to complete. The traffic snarl this has created will make commuting around quaint Studio City a real pain in the you know what. Perhaps city planning could have blocked the condification (my word) of our area which has greatly increased population density and vehicular traffic. Take a look at some of the pockmarked roads, the disintegration of asphalt and plain old potholes that now blanket our streets. The bridge will cost several millions of taxpayer dollars and will not improve traffic flow on that North-South corridor. I dare venture to say that those monies could have been better allocated for more pressing projects. Last year I lost one perfectly good tire to a pothole, around $300.00 for those low profile beauties on my car.

I believe there should have been a citywide referendum on an issue as important as this. Someone got a very lucrative contract. Someone went wee wee wee all the way home!

LAUSD to Bury Homeowners in Property Tax Increase!

2009-08-15T17:32:00.000-07:00

As unbelieveable as it may seem, the Los Angeles Unified School District is using a financial loophole to raise property taxes on hundreds of thousands of homeowners, all without any vote or public discussion. I’m not talking about a 1% or 2 % rise. The current rate is $123 per hundred thousand. Officials for the LAUSD are talking about rates above $200 per hundred thousand by 2012. I’m no mathematician but it looks to me like an untenable weight on homeowners who are already struggling under a tremendous financial burden. Home many more forclosures and for how long do the authorities expect us to continue to bend over? I believe that we must bring this issue front and center. Organize with Twitter and Facebook. Only our collective will can stop this action!

Please contact me if you can help me join in opposition!

It wasn't enough to be Sherman Oaks adjacent?!

2009-07-29T16:55:00.000-07:00

Incredible! A rather large area of Van Nuys is about to become; ta!da! Sherman Oaks! Yes sports fans, in an effort to reduce the lower valued area, they've now created many more higher value homes. What's in a name? Obviously money. I'm sure the reviewers of this decision will split equally. Those Sherman Oaks agents who now see a dilution of their higher valued homes and those Van Nuys agents who are looking at property movin' on up.

The city is the true broker here. They'll get their share no matter how this actually plays out.

It wasn't enough to be Sherman Oaks adjacent?!

The Power of an Idea!

2009-07-27T13:35:00.001-07:00

And the beat goes on..and so do the layoffs. Yes, predictions are that it will get worse before it gets better. OK, I'll buy that. So times are tough and people are out of work, or at least paid work.

Does anyone else see the silver lining out there? All across the economic spectrum there are a great many talented, self motivated people out there with a lot of free time on their hands. Sure, a lot of them will wait it out, send out a few resumes and collect their unemployment.

But wait! In garages, workshops and at computers all across this great land, there's a discernible buzz. Wheels are turning, lights are flashing and innovation is, well innovating. These are smart people, talented people who didn't have the time or motivation to do something about something. Now they can, now they will!

I believe that in the next year, we will begin to see more innovation and creativity than we have in the last decade. Oh the power of an idea! It's always been about small business. That's where it always begins; it will be no different this time.

So, don't expect our country, with so many talented people, to just float along with the breeze.

We have set sail on a new tomorrow, full of promise and excitement. Raise the anchor and full speed ahead!

"Is this a dagger I see before me?"

2009-06-26T15:54:00.001-07:00

Anyone else out there experiencing the "revenge of the appraisers"; sucking the lifeblood out of home values, all at a time when we can least afford to donate. Have you heard about HVCC? it ain't no heating or air conditioning system. Rather, what we have here is a now over-regulated system that ties the hands of our dear friends, the appraiser and yields withered values that frequently scuttle our hard fought escrows/contracts. It appears that the New York State Deputy Attorney-General's office helped craft this travesty that usurps our core belief that the buyer and seller have agreed on the price for a home. Here comes the Spanish Inquisition that now has the power to give a thumbs up or down to any deal based on such restricted guidelines that it sacrifices price accuracy for political expediency. How can we expect a broad base recovery if only one side of the market is working. I'm referring to foreclosures, reo and short sales. I know many agents are making out like bandits (excuse the expression) while the vast majority of us who work on more traditional sales are being staked though the heart like a dagger. The pendulum has now swung to its extreme again from too easy to too hard. I'm just looking for the middle of the road. Is that stage left or right? I'm just looking for a new direction!

Tsunami Warning!!

2009-05-20T11:51:00.001-07:00

Greetings Fellow Surfers!

I had the opportunity to rise with the sun this morning; and looked out to sea to see what I could see. There, just out on the horizon, I saw the formation of what appears to be a wave, but just not any wave.

Based on the groundswell, shape and direction, I believe that this baby will become a tsunami. For the last few months, all the elements of a perfect storm have been gathering.

Have you seen the lowest home prices in a decade? How about the 50 year lows in interest rates? Did you think this eruption would not make waves?

While you've been standing on the beach with your pail and shovel building sand castles with an Open House sign in front of them, or scanning with your metal detector for buried treasure, the slow steady churn has begun.

I feel it my civic duty as both a Realtor and a concerned fellow citizen to sound the alarm. Look up! look out there, it's coming baby! Prepare for the ride of your life or the mother of all wipe-outs!

I've got my board waxed, my sunblock on and my listing contract in a watertight container.

Ready or not here it comes!

Go Get The Cheese!!

2009-05-14T12:46:00.001-07:00

You can’t pick up a newspaper or surf on-line without being barraged by an avalanche of bad news about the economy, real estate or Brad & Jen. Come on people, did you really expect that as soon as Barack Obama took office that everything would just spring back to the way it was? Happily, I am not one of those people.

You see Desperaux (the mouse) had it right! While all the other mice scurried off and cowered when the light came on, Desperaux remained steadfast, eyes wide open.

So, are you a man or a mouse? I vote with the mouse.

When the world is illuminated, we can see all the abundance that it has to offer. When you cower and head for the hills, you fail to see the beauty and opportunity that is out there.

In my 14 years of real estate experience, I have never witnessed such a promising market. Really! Buyers and Sellers alike. Don’t live in fear. Desperaux was right! Go get the cheese!

Believe We Must!

2009-02-17T11:55:00.000-08:00

Why are we buying into all this doom and gloom? How does that make you feel? Keep telling people that the sky is falling long enough and eventually they will start believing it. Invest yourself in your inspired reality. OK we are faced with many unresolved problems right now, but that is nothing new. Life has always been about dealing with problems. The difference is that we have become a civilization of mindless minions. Life is a struggle. That has not changed. What has is our resolve and our courage to meet our challenges and obligations. We have morphed into the "I'm not responsible generation", it's not my fault. An unrealistic sense of entitlement; that somehow we are owed health, happiness and prosperity. We are not. We are not even guaranteed tomorrow. For the last 50 years we have shifted our paradigm and along with it we lost our grounding in this earth, our respect for the earth , our true reality. We have become a nation living in a self induced drug haze.Snap out of it people! We still have the power to change our reality; a new story has yet to be written. Are we men or holograms? Shadow or substance? Fear I fear is the new reality. We fear losing our, (fill in the blank). I say we must become the new pioneers of tomorrow. Strike out with a renewed sense of determination and hope. Let us lift the veil of darkness and despair and see our world as it is, as it can be. In the face of our creator we can see the eternal joy and exileration of life. How precious is our next breath! How fragile it's beauty. Find your joy and repel those whose thoughts and actions seek only to tear us asunder. Believe we must!

2008-10-27T19:09:00.000-07:00

A New Low in Lowering the Bar!

2008-10-27T18:09:00.000-07:00

In what is certain to become commonplace, the legal industry has opened up a new front that will negatively impact on the real estate industry. Remember when many in the legal profession began to solicit directly to accident victims? Fast forward to the mortgage meltdown and witness the direct and not so direct solicitation to homeowners who are in dire financial
circumstances. Disgruntled homeowners will be able to effect legal action against lenders who for any reason, fail to mediate, lower and resolve their mortgage payment. What will surely follow will be counterproductive to our industry. What could a reasonable person expect to happen as these lawsuits proliferate? Legally thrashing the mortgage lenders will result in (here it comes..) higher interest rates. After all, someone is going to have the pay the legal costs of defense and financial losses that lenders may ultimately face. This action is counter-productive to reviving beleaguered real estate markets. I urge you, my fellow Realtors, to refuse to participate in this dubious scheme. The true beneficiaries of this scenario would be the attorneys, not the homeowner, not the agent and not the lender. Truly we have reached a new low in lowering the bar!

Everybody! Take a Deep Breath!

2008-10-23T19:48:00.000-07:00

For Sale: Giant abyss to nowhere with spectacular black hole views. $0 down. Available for immediate occupancy. Buyer to verify all contingencies with appropriate governing body prior to writing offer. Buyer agrees to waive all vertigo and depth crushing pressure claims. Motivated Seller. Hurry won’t last

OK, so I haven’t been able to sell this listing yet! Not that there aren’t a busload of individuals who I’d like to see on board leaving this earth…did I say earth, I meant town.

I’m not old enough to have lived through the Great Depression, (what was so great about it?) I am however old enough to understand that this is going to be “one bumpy ride”. But that ride will end, not with a bang but with a glimmer. The proverbial light at the end of the tunnel, or heaven; take your pick. I prefer to believe that eventually the dust will settle, the sun will rise and I will be spending my Sunday afternoons hosting an Open House.

EVERYBODY! TAKE A DEEP BREATH! Life is a blessing and nothing is more important than that I feel good. I do! So should you. OK, you can exhale now!

Blue House Additional Photos

2008-10-23T19:41:00.000-07:00

The Blue House - 11755 Laurelwood Drive, Studio City, CA 91604

The Blue House 11755 Laurelwood Drive Studio City

2008-10-23T19:30:00.000-07:00

For further information on this hi tech estate please contact:

Ian Sebastian
Running Realty
818-267-7375
info@runningrealty.com