June 25, 2005
THE REAL (ESTATE) STORY
by Larry Underhill
Broker-Owner
CONGRATULATIONS TO John and Fablana Simmons (and their two cute little daughters), on the successful purchase of their new Lodi home! John dropped into my office a few months back, saying, I read your column and I think you're the guy I'd like to work with." Thanks for your trust, John!
Now the Simmons Family is in the process of moving into their new (to them) residence. I want to thank Lodi Realtor Vicki Jenkins for another stellar job as representative of the Sellers in this transaction. Thanx, Vicki! CLASSIC SCENARIO: In this white-hot real estate market, John and Fabiana recognized the need to be as prepared as possible. BEFORE they found their replacement home. They laid the groundwork for a bridge loan that would enable them to nail down their new place without having to write an offer contingent on the sale of their present home. Then, when we found the home they wanted, we wrote an offer without the fear of being "bumped" by someone with no home to sell.
A CONTINGENCY OFFER is "an offer with a big hole in it" as I often warn my clients. Sometimes you luck out and make it all the way to closing, and other times another buyer with no contingency comes along, forcing you to pull out of the deal. I try to arm my clients with all of the protection possible! Finding a way to qualify for the new loan without having to sell your existing home is a great way to protect your position.
BY MID-JULY, we should be congratulating the Simmons clan on the successful SALE of existing home! It's in escrow and perking along nicely. Because of their financing preparation, they didn't worry about scrambling to get their present home sold. They'll be safely tucked away in their new place long before their present home closes escrow. Minimizing stress is what my job's all about!
I PROMISED one more Arnold story last week. Here we go: In the Guv's speech to the California Association of Realtors two weeks back, he told us that real estate (and Realtors, if you can believe it) is close to his heart, He explained that he had begun investing as a young man fresh from Austria. When other young bucks were buying fancy cars and homes, he bought his first investment property. A six-plex. Sometime later, he exchanged into a twelve-unit complex, and then into 18 units. Today, Arnold owns hundreds of apartment units AND office buildings all over Southern California.
He told us, "I made my fortune in real estate BEFORE I began my career in the movie business. He said that his financial stability set him apart from the average Hollywood actor and enabled him to turn down roles he did not like. "They wold have made me a villian or a Nazi officer," he observed. "But I wanted to be a leading man!'' He said he turned down $100,000 for one role which was unheard of in tinseltown! "I could do it because I didn't need the money. That's the reason I could hold out for great roles like Conan the Barbarian (loud laughter from the crowd) and The Terminator ..." Arnold went on to recite a chunk of his filmography. Any way you skin it, the guy knows how to make a buck. "I know how to turn one dollah into two dollahs!"
SPEAKING OF Schwarzenegger films. ..Lodi's Vine and Branches bookstore had a great poster a few years back. Famous author and pastor Chuck Swindoll stood next to a podium, decked out in shades and a black leather motorcycle jacket. The caption read, "The Sermonator."
Have a great week! See you next Sat.
by Larry Underhill
Broker-Owner
CONGRATULATIONS TO John and Fablana Simmons (and their two cute little daughters), on the successful purchase of their new Lodi home! John dropped into my office a few months back, saying, I read your column and I think you're the guy I'd like to work with." Thanks for your trust, John!
Now the Simmons Family is in the process of moving into their new (to them) residence. I want to thank Lodi Realtor Vicki Jenkins for another stellar job as representative of the Sellers in this transaction. Thanx, Vicki! CLASSIC SCENARIO: In this white-hot real estate market, John and Fabiana recognized the need to be as prepared as possible. BEFORE they found their replacement home. They laid the groundwork for a bridge loan that would enable them to nail down their new place without having to write an offer contingent on the sale of their present home. Then, when we found the home they wanted, we wrote an offer without the fear of being "bumped" by someone with no home to sell.
A CONTINGENCY OFFER is "an offer with a big hole in it" as I often warn my clients. Sometimes you luck out and make it all the way to closing, and other times another buyer with no contingency comes along, forcing you to pull out of the deal. I try to arm my clients with all of the protection possible! Finding a way to qualify for the new loan without having to sell your existing home is a great way to protect your position.
BY MID-JULY, we should be congratulating the Simmons clan on the successful SALE of existing home! It's in escrow and perking along nicely. Because of their financing preparation, they didn't worry about scrambling to get their present home sold. They'll be safely tucked away in their new place long before their present home closes escrow. Minimizing stress is what my job's all about!
I PROMISED one more Arnold story last week. Here we go: In the Guv's speech to the California Association of Realtors two weeks back, he told us that real estate (and Realtors, if you can believe it) is close to his heart, He explained that he had begun investing as a young man fresh from Austria. When other young bucks were buying fancy cars and homes, he bought his first investment property. A six-plex. Sometime later, he exchanged into a twelve-unit complex, and then into 18 units. Today, Arnold owns hundreds of apartment units AND office buildings all over Southern California.
He told us, "I made my fortune in real estate BEFORE I began my career in the movie business. He said that his financial stability set him apart from the average Hollywood actor and enabled him to turn down roles he did not like. "They wold have made me a villian or a Nazi officer," he observed. "But I wanted to be a leading man!'' He said he turned down $100,000 for one role which was unheard of in tinseltown! "I could do it because I didn't need the money. That's the reason I could hold out for great roles like Conan the Barbarian (loud laughter from the crowd) and The Terminator ..." Arnold went on to recite a chunk of his filmography. Any way you skin it, the guy knows how to make a buck. "I know how to turn one dollah into two dollahs!"
SPEAKING OF Schwarzenegger films. ..Lodi's Vine and Branches bookstore had a great poster a few years back. Famous author and pastor Chuck Swindoll stood next to a podium, decked out in shades and a black leather motorcycle jacket. The caption read, "The Sermonator."
Have a great week! See you next Sat.
Statesman Realty
(209) 333-2380
1-800-407-SOLD (7653)
Website: www.larrysellslodi.com
Website: www.larryunderhill.com
Email: Larry@LarryUnderhill.com
posted by Larry Underhill at 10:18
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