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January 26th, 2009 by Temple City Tribune
I certainly don’t know how successful Mr. Trump is with his casinos, but I do know that he is very successful when it comes to real estate. He recently said that now is the time to buy, and that is something that I have been saying for months. The National Association of Realtors® (NAR) have stated that if you do not have to sell right now, then hold off for a while longer. Exactly what I have also been saying for months.
More important, is that NAR has stated that all of the real facts regarding market conditions are not being reported in the media. We are told that there are large numbers of properties on the market, but not much is being said that buyers are reacting and purchasing bank owned homes (REO’s), Short Sales and by sellers who have properly priced their properties for quick sale. Real estate associations are reporting that inventory of available homes are now declining. Lenders are lending, interest rates are still extremely good, and on top of everything sellers are still dealing, including the banks.
Here are some more interesting questions.
Q) I read your answer about getting a renter to clean up and I agree. What can be done about a condo owner who is a pack rat? Other residents in the building are at risk. Can the homeowners association ask for an inspection by the fire or health department, perhaps of all the condos so as not to single out any one person?
A) This is a great question, and not an easy one to answer. Although I had some thoughts, I felt it best to ask attorneys for an answer. It is not the answer that this question writer or I may have wanted. The homeowners association can request that the condo owner clean or remove any materials, trash or unused furniture from the exterior of the property. But, they cannot enter the property to have the owner remove anything in the condo. There are exceptions to the rule, and that is, if any odor is coming from the property that could be a health hazard to surrounding condo owners. I am not an attorney nor can I even suggest what steps could be taken in this situation, but there are possible methods spelled out in the Davis-Stirling Common Interest Development Act & Community Association Mini-Legal Dictionary©. I have six of these books and will gladly mail them to any homeowner association free of charge.
Q) We have been trying to contact our lender in an attempt to work out some form of refinancing plan, but we are having no success. Is there any way for us to contact someone that could help us?
A) A law has recently been passed that goes into effect this coming September requiring a lender to contact a property owner that is having trouble making their monthly payments, and going into foreclosure. The lender must sit down with the property owner to possibly see what can be done that would allow the property to remain with the current owners. The lender must document the date and time that the property owner was notified that the lender will talk to them, and must also document the date and time that the lender and property owner met to discuss the problem. There is more to it, and as of this writing I have not yet received the entire law and lender requirements, but will attempt to get that information to you as quickly as possible. Doesn’t this solution sound very much like what I have written a number of months ago?
Q) We purchased a condo and one of the conditions was for the seller to have the carpets cleaned. The seller had a cat and we noticed marks. Escrow has closed, but can we go back to the seller and have them re-clean the carpet?
A) If you feel that the carpet has not been properly cleaned, and escrow has closed, you have a couple of ways to approach the problem. First contact your real estate agent and have them contact the seller to see what they will do. If that doesn’t work, you still have the mediation clause in your agreement, and should proceed with this immediately. Animals do let people know that they have been in a property, and that also becomes a disclosure item for the real estate agent. The problem is that urine could go into the padding, even into the slab or wood under the padding, and if the carpet is not properly cleaned it could become a health hazard. If you do not get an immediate response from the previous owner, proceed to re-clean the carpet and bring the paid invoice to mediation. This question was a real shocker, as just a few days ago I was present at a lecture that dealt with the proper method of cleaning a carpet where dogs and cats have left their mark.
Thank you for the questions, please keep them coming.
Louis Perlin CRS, GRI is a Syndicated writer and author. Lou is also a Professional Real Estate Witness and Mediator. Lou can be reached by calling Marilyn Perlin Realtors, Inc. at (760) 327-8401 or by e-mail: email@example.com . Lou is also available for meetings and book signings.