Dana Graham

Myths and Misconceptions Category

May 2014 Newsletter

May, 2014 Dear Neighbor: Despite what you may have heard on the news, the local real estate market is still very active.  I have a very nice 4 bedroom 3 bath one level home coming up in Rolling Hills Estates in the $1,250,000 range, so call me if you know anyone who would like to see it before the rush. Some of the myths in real estate make “Elvis is in the building” look credible.  One holds that you should price your house...Continue Reading!

How Realtors Get Paid

I guess since I'm in the business, I just think everyone understands how Realtors get paid.  Every so often something happens to make me realize that's not true.  So if you don't spend your free time worrying about this, here's how it works: When you list your house for sale with a Realtor, he becomes the "Listing Agent".  You will notice on your Listing Agreement that there is a spot for the commission you agree to pay him.  This normally represents...Continue Reading!

Show Me Your List(ings)

When you're interviewing agents to sell your house, one the best things you can do is to ask them for a list of homes they've actually sold in your area.  If you're in Palos Verdes, a list of sales in the 90274 and 90275 zip codes would be appropriate.  Any others would be nearly irrelevant.  As explained below, the agent you're interviewing may not really be active in your area and/or may be starting with you.  If the agent isn't active...Continue Reading!

Property Inspections

Obtaining a property inspection is a crucial step in the buying process and a popular subject for TV shows.  As a veteran of those type of shows, I will just tell you that what ends up on the screen often bears little resemblance to what actually went on.  But I'm getting ahead of myself. While you want to have an inspection by a disinterested, but qualified, 3rd party (please be there for it), there are aspects of property inspection that may not...Continue Reading!

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!

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!

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!

Zillow and the Like

If you haven’t kept up on fast-moving real estate technology, Zillow may be an unfamiliar name to you.  If so, in the last few years, internet websites have sprung up for everything you can imagine, among which are those which purport to give you the value of your house or, perhaps more tantilizing, that of your neighbor.  Zillow is the most prominent of these, with such as Truila and Redfin also in the game. While the subject matter may not be...Continue Reading!

Global Warming (thru the ages)

I originally wrote this in early 2009 but, sad to say, it still applies: I hate to waste time on this, but since it's currently fashionable to believe that man is causing global warming, I just can't help putting it to the "historical perspective" test. I am no scientist, and I'm not even going to get into the vested interests of a whole bunch of people who are riding the government gravy train "studying" this.  All that aside, it fails the...Continue Reading!

These Are Perilous Times

Originally written in May, 2009: Please.  No, they are not.    Every generation thinks they live in unprecedentedly "perilous times". Remember the bucolic 1950's? Ozzie & Harriet, Mickey Mouse, Howdy Doody, Elvis, and all that innocence? That's not what people thought at the time! It was "head for the bomb shelter and duck and cover" 'cuz them Ruskies could be sending a nuclear bomb over any minute. Not to mention polio and a bunch of other disesases since eradicated. We now know that...Continue Reading!