What’s a Broker to Do with a Crooked Agent?
July 27th, 2010 Categories: Carlsbad Real Estate San Diego Real Estate
(Answer: Terminate!)
Chaos creates opportunity, and our current real estate market in San Diego has spawned opportunities for both the ethical and the fraudulent. So what does a real estate broker do when he or she discovers that one of his or her agents has done something illegal that can, or has,
harmed a client?
Common sense and decency suggest that the first thing to do would be to stop the bleeding, and to try and rectify the situation. Next, the broker should terminate the agent and then start fretting about the potential Catch 22 created by such situations–and as described by the California Association of Realtors:
“You discover you have an unethical sales agent, so you dismiss the agent. Then, you ask, “If I report this agent to the DRE, am I, the supervisory broker, responsible for his unethical behavior, and legally culpable?” The DRE’s Broker Supervision Taskforce, which includes several REALTOR® members, recently adopted a new policy that states that the broker-manager will not be routinely subject to audits for corrupt sales people. “
We are awaiting the results of that decision, but still believe as California real estate brokers we are responsible for the actions of our agents. And the logical question follows that if we report crooked agents in our employee are we not ultimately responsible for their unethical actions? And does not the current threat of action against the broker by the CAR or California Department of Real Estate inhibit the reporting and prosecution of thieving real estate agents?
It seems the California Association of Realtors is finally dealing with this issue–and we may or may not be held responsible for the actions of corrupt agents in our organizations.
My recommendation?
1. Check background of agents before hiring them in the first place. Call previous brokers and clients. Character really and truly counts!
2. Google the agent’s name and see if there are any legitimate negative reviews or reports against them. Also check the California Department of Real Estate for prior actions against the potential hire.
3. Be familiar with your agents’ transactions. Far too many brokers are managing agents in name only. We are involved in some level with all transactions under San Diego Previews Real Estate.
4. We’ve never hired a corrupt agent, but if it were discovered that we had I think we would terminate that agent immediately and do everything in our power to correct any misdeeds.
We don’t anticipate a corrupt agent or a crooked transaction because of the quality of agents we hire. However, we await further clarification from the California Association of Realtors on how such circumstances should be handled by any California real estate broker. In the meantime, we would encourage any victims of real estate fraud to report the agent to either/or the local District Attorney or the California Department of Real Estate.
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Aviara en San Diego Norte
July 26th, 2010 Categories: Aviara Real Estate Carlsbad Real Estate San Diego en la lengua de Cervantes
Hyatt Resort at Aviara in Carlsbad, CA
Carlsbad, CA–Aviara, situado en el condado de San Diego Norte, es la primera urbanización de plan integral en Carlsbad. Reconocido y premiado por su excelencia, este barrio se ubica en el linde sur de Carlsbad, al oeste de La Costa Resort y Spa, y los vecinos y propietarios residentes disfrutan de condiciones de vida casi idílicas.
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Vengan a las carreras de caballos en Del Mar, California
July 26th, 2010 Categories: Del Mar Real Estate San Diego en la lengua de Cervantes
by Dione Lamm
Del Mar Race Track
Del Mar, CA–Para aquellos que son amantes de las carreras de caballos, el 21 de julio 2010 es una fecha a retener porque hoy se inicia la temporada de concursos hípicos mas esperado del año, las carreras de verano del Hipódromo de Del Mar. El clima suave y las brisas marinas de la playa próxima al arena invitan a los vecinos y veraneantes de fuera del área a un espectáculo singular. En total son 37 días de carreras apasionantes que reunen lo mejor del mundillo equestre – jinetes, propietarios y trainers. Es una cita anual a no perder.
Ya saben ustedes, tienen cita en Del Mar, California desde el 21 de julio hasta el 8 de septiembre, 2010.
Dione Lamm, San Diego Previews Real Estate
760-271-1162
Member of National Association of Realtors, CIPS, TRC
DRE No. 182020459
dione.lamm@gmail.com
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HAFA: Pre-Negotiate those San Diego Short Sales!
July 25th, 2010 Categories: San Diego Foreclosures San Diego Real Estate
Carlsbad, CA–I returned a couple of days ago from an intensive CRS gathering in Las Vegas and attended their Foreclosure and Short Sales class, where much discussion centered on the Home Affordable Foreclosure Alternative Program (HAFA) that was instituted last April. The intent of this federal program is for lenders to circumvent foreclosures by pre-approving short sales for their distressed borrowers.
When the large gathering of real estate agents and brokers from around the country was asked if any had successfully completed a HAFA sale, nobody raised a hand.
That surprised us all for a couple of reasons: (1) This group represents top producers in the field of real estate; and (2) HAFA would seem to offer an elegant solution that would help resolve our real estate crisis–at least as it applies to mortgages on primary residences. This, from Realtor.Org:
HAFA Provisions
- Complements HAMP by providing a viable alternative for borrowers (the current homeowners) who are HAMP eligible but nevertheless unable to keep their home.
- Uses borrower financial and hardship information already collected in connection with consideration of a loan modification.
- Allows borrowers to receive pre-approved short sales terms before listing the property (including the minimum acceptable net proceeds).
- Requires borrowers to be fully released from future liability for the first mortgage debt (no cash contribution, promissory note, or deficiency judgment is allowed).
- Uses standard processes, documents, and timeframes/deadlines.
- Provides the following financial incentives:
- $3,000 for borrower relocation assistance;
- $1,500 for servicers to cover administrative and processing costs;
- Up to $2,000 for investors who allow a total of up to $6,000 in short sale proceeds to be distributed to subordinate lien holders, on a one-for-three matching basis.
- Requires all servicers participating in HAMP to implement HAFA in accordance with their own written policy, consistent with investor guidelines. The policy may include factors such as the severity of the potential loss, local markets, timing of pending foreclosure actions, and borrower motivation and cooperation.
I would be very interesting in hearing from anyone who has successfully completed a HAFA transaction. Skepticism was thick at this meeting, as many Realtors speculated that large banks may be holding off on both short sales and foreclosures until the market recovers–along with their bottom lines. It is estimated that there are 6 to 7 million homes in “shadow inventory” or those that are in some stage of default.
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Carlsbad Homes: Beauty Contests and Price Wars
July 24th, 2010 Categories: Carlsbad Real Estate la costa real estate
by: Roberta Murphy
Carlsbad, CA–We watch Carlsbad real estate closely, with special attention to homes in La Costa–because that is where we live and office.
When the sign went up in the yard at 3001 La Costa Avenue, we checked the MLS listing and this neat and well-groomed 4-bedroom, 2.5-bath home is priced with a broad range of $545,000 to $625,000. It’s in the highly-desired San Dieguito School District, has no HOA fees, and sits on over one-third acre.
Price, of course, is relative. But the lower end of this range would make the home a strong bargain in the South La Costa market. But discussion of this listing is relevant here only to the extent that the goal is to discuss local “market absorption rate” and theoretically how long, on average, it will take homes and condos to sell in the 92009 zip code.
As might be expected, the detached home market is much stronger than the condo market in Carlsbad, and La Costa is no exception. Considering the annual number of sales along with those in the last month, a single family home owner in the 92009 zip can currently expect, on average, a market time of around 3.7 months, while condos are facing a 5.5-month rate of absorption. Of course, actual time on market will depend hugely upon property condition and price.
Some listings sell in a matter of hours or days: They are in desirable neighborhoods, reflect sparkling condition–and are bargains to boot. They are offered by sellers who recognize that they are competing in both a beauty contest and a price war.
And they usually win.
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US Soldiers in Afghanistan Need Your Help
July 8th, 2010 Categories: San Diego San Diego Real Estate
Note: This article has absolutely nothing to do with San Diego real estate–and everything to do with helping our brave soldiers serving abroad.
Our son Mark has been deployed to Afghanistan, and will celebrate his 21st birthday this weekend in a remote US Army COB (Contingency Operations Base) in a rural Afghan Province. I already had two boxes packed with his favorite snacks, some DVD’s from his brothers, personal toioletries– along with magazines and some requested power cords.
He called yesterday morning from a larger FOB (Forward Operating Base), from which he was to depart within the next 24 hours or so. It seems even more basic supplies are needed by our soldiers. These items are not even available for local purchase and include such basics as laundry detergent, towels, wash cloths, soap, toothpaste, toothbrushes, deodorant, disposable razors, sunscreen and so on.
A third box has already been packed with these necessities. Still, I can’t help but wonder about and agonize over soldiers who may not have folks shopping for and shipping to them from halfway around the world.
What are these soldiers to do?
Distressed, I placed a call yesterday morning to the office of our local Congressman, Brian Bilbray. An assistant, Case, patiently listened to my tirade:
How can our government plan a surge into Afghanistan, and not make arrangements for soldiers to locally acquire these very basic necessities?
Until the matter is resolved, we can take steps to help out our soldiers by sending packages to those who receive little if any mail from home. This note from Sgt Aden Martinez says much–and provides a way for us to reach out:
28 Jun 2010
Hello, we are a Recon Platoon that was stationed in Vilseck, Germany. We are part of the 2/2 Stryker Cavalry Regiment. We work as the “eyes and ears” of our unit and provide vital information for our Leaders. We appreciate your support and your prayers for us. We’d enjoy snacks that can be taken on our long, small grouped missions like: beef jerky, Jolly Ranchers (hard candy), granola bars, protein bars, and small nutritious snacks.
Our living conditions off work are in buildings with 220 and 110 power, we are allowed microwaves in our rooms so we’d like to request some popcorn packs and some Ramen Noodles would be great. Personal hygiene products would be really appreciated since we don’t have a PX (store) to resupply our shaving razors, soap, deodorant bars, tooth paste or toothbrushes, and if you could, some laundry detergent would be useful too.
We have time use to use our gym facility as well, so if anybody would like to send us some protein powder and multivitamins we would definitely appreciate those. Our Platoon works on long range missions as well and carrying water is cumbersome but important. If anybody has some Nalgene bottles or Camelback pouches they’d like to donate we’d greatly appreciate that as well.
Well, thank you all so much for your help and support and I hope that I have been as specific as possible. We’ll definitely keep you posted on our boys out here doing their part to serve OUR county. Thank You.
SSG Adan Martinez
Attn: Any Soldier®
FOB Apache
HHC, 2/2 SCR
APO AE 09383
Sgt. Martinez will deliver packages, cards and letters to soldiers who receive little from home. The US Post Office offers free 12×12x5.5 boxes for mailing–and postage need only be paid for shipment to New York. Expect package delivery to take 2-3 weeks.
For additional information about how you can reach out to soldiers serving abroad, visit http://AnySoldier.com
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San Diego Previews Makes Top 10!
June 5th, 2010 Categories: Carlsbad Real Estate Encinitas Real Estate San Diego Real Estate
Who might have imagined?
I fetched the San Diego Union Tribune from the driveway this morning and noted the front page announcement encouraging all to vote for San Diego’s Best 2010. All we had to do was go to the SDBestPoll and vote for the top nominees in each category.
Couldn’t resist logging in and checking, first and foremost, the top 10 rankers for San Diego real estate brokerage. And there we were, right along with the big guys like Prudential, Coldwell Banker, Century 21, Keller Williams and Windermere. The dais was also shared with some four other independents including Ascent, Connect, Coastal Rock and the Coshow Group.
I think my 7 a.m. Saturday morning screech awakened not only the family, but startled some neighbors as well.
Now, says the U-T, it’s times to vote for the “best of the best” –until June 27. And on Sunday, August 29, we’ll all be able to discover, via their announcement, everything from San Diego’s best Greek restaurant to the best movie theater, skate park, wi-fi hangout…and San Diego real estate brokerage (please?).
Vote daily if you wish–and big congrats to all San Diego businesses and services that share the nominations for San Diego’s Best.
I am still pinching myself….
Carlsbad–Roberta Murphy
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Need San Diego Luxury Home for One Week
May 10th, 2010 Categories: La Jolla Real Estate luxury homes
We have a client seeking a San Diego luxury home–or contemporary mansion–for a single week in August.
This gentleman is willing to pay $7000 per day for this week, but is very particular about architectural style and amenities. The home must be modern contemporary–and something akin to the Razor Estate, which is a La Jolla estate currently on the market for $25 million. Regrettably, we are told the Razor’s estate is not available as a rental.
It is urgent.
Any suggestions or possibilities from our readers?
If so, please call Mike Murphy at 760-402-9102 or 877-818-8197.
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Comparing 92009, 92011, 92010, 92008 and 92024….
May 2nd, 2010 Categories: Carlsbad Real Estate Encinitas Real Estate
We are always on the lookout for cool online tools–and an easy link for juicy zip code demographics can’t be ignored.
Carlsbad and Encinitas Zip Code Data
Zip Skinny provides a lot of information drilled down to zip codes and gives you the chance to see how how your zip code compares to neighboring ones in such areas as:
- Levels of education
- Median household income
- Population density
- Number of singles
- Racial demographics
- Employment levels
I am already comparing North San Diego communities in Carlsbad, Encinitas, Rancho Santa Fe, Del Mar, Solana Beach, Cardiff, San Marcos, Oceanside, Vista and Escondido.
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Grrr! Get Rid of San Diego Junk Mail
January 11th, 2010 Categories: San Diego Real Estate
by Roberta Murphy
Perhaps I’d be a bald San Diego Realtor if I pulled hair out each time I have to toss junk mail–or one without a voice if I growled each time this intrusive mail gets mixed in with important envelopes. More than a few times we have inadvertently tossed important mail (and even a check or two) thinking it, too, was junk.
Here’s a little pointer that might save a few trees and the good nature of more than a few San Diego home owners.
I don’t know about you, but there is nothing more aggravating than to have solicitors intruding into your life by telephone. Millions celebrated when Do Not Call lists were instituted and we all reclaimed precious time in our lives by signing up.
(Now if we could just find a way to stop those ill-timed telephone surveys.)
Some think junk mail is not quite so intrusive as spammy phone calls, but think about all the junk mail that clogs our mailboxes, trash cans and landfills. I would be so happy to never receive another offer to refinance my home, buy more insurance, open a Capitol One credit card (few of those these days:-), or save money on San Diego property insurance.
I think most of us are also more than a little annoyed that credit bureaus are allowed to sell our information, FICO scores and other data to these soliciting firms. Were you aware of this practice? We weren’t.
Want to opt out?
Under the Fair Credit Reporting Act (FCRA), you have the right to opt out from these offers and prevent the credit reporting companies from selling or providing your credit and contact information to these solicitors. Sounds like a winning solution to me.
To do so, just go to OptOutPreScreen and complete a simple form.
By doing so, Equifax, Experian, Innovis and TransUnion will be prohibited from sharing your information for at least five years. If you wish to permanently do so, instructions are provided for doing so by snail mail.
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