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    10162012 Watch out for Ponzi Schemes and “too good to be true” promises by Real Estate agents

    I suppose I have started to relax from my position when I used to always think, “That never ceases to amaze me” when I hear the next Realtor Pitch to get new clients.  Now, I don’t get amazed as often.  But that took the advent of the internet and my Santa Clarita real estate team of Paris911 being in the SCV real estate BIZ full time since 1998.

    I remember when I was a new cop on the LAPD.  It amazed me that people would lie to me when I was asking them direct questions that I needed to know the answers to.  In fact, with evidence in hand, they would still lie.  Not everyone though, only a few, a small number of those we would question would outright lie.  I worked Deuce watch on the LAPD motor squad, that, “I’ve only had two beers”, thing became old real fast.  After the field sobriety tests – I would often think to myself, “Yes, two six packs”.

    Real Estate has the same percentage stretching the truth to get the real estate agents more moolah.  When you are watching a pitch about using a specific real estate agent or team to short sale your home and they are promising you thousands or tens of thousands back being gifted by your bank, the one you defaulted against, before you sign the listing contract and start the process, have the agent guarantee this to you in writing.

    When they are unable to guarantee to you, in writing, that you are going to get some $$$ for sure, that would be my cue to move along and work with a team of SCV Short Sale professionals that get the job done by being experts in the process.  2013 – the Year of the Short Sale.  Time will tell, but we sure need that Debt Forgiveness act to be extended.  I hope Congress is reading this blog 🙂

    Ponzi Scheme – There are a few that have participated in these as of late.  News on the wire is that one of the agents, from the San Fernando Valley, is going to plead guilty today.

    Watch out if you are needing to rent.  Make sure that person, posing as being a representative of the owner, is who they say they are.  Also, be weary of giving Cash Deposits or Checks without real signed contracts.  Watch out for yourselves and you will do well.  Have a read on our How to keep safe when Renting post with video.

    Flipping homes?  Why not try the auctions, not that re-sale and bank owned cannot be the “Deal of the Century”, but it is much more difficult to get the margin you are looking for when a person typically flips a home.  For this, you are going to want to work with experts that have been representing folks at auctions to start. Check out the homes heading for the Santa Clarita real estate auction.

    Santa Clarita commercial real estate.  “gosh, I feel like I am giving the police briefing”….  Watch out for those in this field of endeavor as well.  We have some of the BEST Commercial Real Estate agents at REMAX.  Let us run that interference for you and get you someone that knows what they are doing when you are ready to move forward with your commercial venture.

    First Time Buyers:  Agents need to be a bit more relaxed when dealing with these folks.  Hundreds of thousand of dollars that take 30 years to pay off should never be thrown under the bus.  Take your time, sit down and explain the entire home buying process.  Talk about the type of real estate market we are in.  Make sure you are not just verbalizing it and that you are backing up your verbiage with facts that have come from directly from the Board of Realtors.  Give it to them straight, today’s First Time Buyers in Real Estate can handle it.  Heck, they probably know more than you because they asked “Google” the question before they called 🙂

    [idx-listings city=”Stevenson Ranch” minprice=”600000″ maxprice=”1000000″ statuses=”1″ orderby=”DateAdded” orderdir=”DESC” count=”1″ showlargerphotos=”true”]

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