Dana Graham

Real Estate General Info Category

Are Realtors Are Overpaid?

I've heard this question before, and I understand where it comes from.  The answer is generally no, however, and here's why: 1)  When you pay your Realtor a commission to sell your house, you are paying for the accumulation of (presumably) many years' experience being brought to bear.  While you are not generally paying your realtor to attract buyers (if you read my stuff you already know this), you are paying him/her for what happens when an offer(s) appears.  I get into...Continue Reading!

Pocket Listings

Whenever the market gets hot, the subject of pocket listings comes up.  A "pocket listing" is a signed listing with an agent who, for whatever reason, does not put that property on the general market.  The reasons might be that the seller doesn't want hordes of people tromping thru, or that the agent would like to see if his buyer will buy it before exposing it to other agents, thus ensuring the agent of a bigger commission.  While the first...Continue Reading!

July, 2013, Newsletter

Dear Neighbor:  As I said in my March newsletter, “it’s just a matter of time (and not much time) before rates rise”.  Well, that time arrived last week as you probably heard on the news.  30-year fixed rates on loans over $730,000 have shot up to nearly 6% from around 4% a month ago.  Though it may look high, 6% is still low by historic standards (my parents loan on Pleasant Hill Drive was 6.25% in 1963), and it’s a pretty...Continue Reading!

Why Your Escrow Won’t Close on Time

Escrows almost never close on the date scheduled which, if you don't do this every day, may seem strange.  After all, both parties signed an agreement that the escrow would close on a certain date.  Why doesn't it? There are a bunch of potential reasons, but here is by far the most common: The buyer's lender.  This is by far the single biggest reason for late closings.  It isn't that the lender doesn't have time to process the loan.  The problem is that, apart...Continue Reading!

May, 2013, Newsletter

Dear Neighbor:  Onward and upward!  Reasonably-priced homes continue to sell quickly, often with multiple offers.  Interest rates still have not moved upward, remaining at around 4%.  And lenders have begun making 95% loans again (5% down) – I think this is called amnesia.  One of the less-obvious issues we’re having these days is that of appraisals.  This is always a problem when the market is rising, as appraisers use closed sales (which, of course, are lower in a rising market) to determine...Continue Reading!

The Results Are In

In 2012, I ended up being the #1 Prudential agent in Palos Verdes and #4 overall in number of sales (including other brokerages) out of the thousands of agents that do business here. Now, you may say, #4 is no big deal but, if you read my stuff, you know that, unlike the other agents who do my level of business,  I do all this myself -- no assistants, secretaries, sub-agents, no foreclosure contracts with banks -- no nuthin'.  I do this because if you hire...Continue Reading!

Appraisals

This article was originally written in April, 2009, in the wake of the "meltdown", but still holds true today: Much has been written about the causes of the recent economic events as pertains to real estate, from the unqualified buyer, the predatory lender, potential collusion between the various parties, bogus loan ratings, and right on thru to the ultimate trusting investor.  Some have even addressed appraisals, but there is a problem with appraisals I've not seen discussed anywhere: The purpose of the...Continue Reading!

March 2013 Newsletter

Dear Neighbor:  The real estate market is still jumpin’, with interest rates remaining below 4% for all but the biggest loans or smallest down payments.  There is still very little for sale, and prices have certainly risen during the past 6 months or so.  The feeling on the street is that it’s just a matter of time (and not much time) before rates rise, so my theory (not exactly genius) is that everyone who has been thinking about buying and can,...Continue Reading!

January 2013 Newsletter

The following is the bi-monthly newsletter that went out to my mailing list January, 2013.  Here is a copy of the Contact Form referred to.  If you just want me to hand you a copy, let me know:                                                                                                                                                                                                    January, 2013   Dear Neighbor:  Well, let’s see:  if you’re reading this, the world apparently didn’t end last December 21, tho we have sailed off the much-ballyhooed “Fiscal Cliff”.  Personally, I have the feeling that the results are not going to be as dire as...Continue Reading!

How To Pick Your Agent

I remember about 1979 when I was interviewing agents, before I got into the business.  It was very difficult for me to figure out who was a good agent, as all had eyewitness testimony to their having walked on water.  Such criteria as the number of sales or "sales dollar volume" helped, but I wanted someone who was going to sell my house, and not just throw a bunch of listings against the wall and see how many stuck.  I also...Continue Reading!