All Forum Posts by: Kris Kahrs

 Hi David--  Yes, you are right.  It turned out that an executive in his company bought our property.

 Hi Nabil--my experience with my broker was a good one.  We were just bemused by the statements that weren't supported (or didn't seem to be) in some way.  I can tell Zillow is not that accurate because a property on one page may say it's on the market on another page in Zillow, it may say the property is sold.

By the time, we discovered that we wouldn't be getting the purchase offers all together, we had signed the broker agreement some time prior.  But as I said, things turned out well.  Thanks for the insight.

My realtor states that there is no inventory in the Los Angeles marketplace & that's why the prices are so high.  I told him that Zillow says the L.A. area has approx. 11,701 properties for sale, so if there is no inventory why does Zillow have such a large amount?  My realtor said that those are the houses no one wants.  There's no inventory for good homes in areas buyers want to be in.  Meanwhile my hubby & I asked him to bring us all the offers at once , but he refused saying it wasn't 'cricket'.  He also pushed heavily for us to take the 1st offer we got.  He said the longer we were on the market, the more buyers would think there was something 'wrong' with the house, this after being listed for 2 days.  The 1st offer was below our Listing Price by $50K.

How much of the real estate market in L.A. is actually created by our real estate system?  I'm sure there are a lot of people out there who know a lot more about this than I do.

I am new at this, so if I'm leaving out crucial details, PM me & I'll get you the info.  Sellers interested in selling street to street (potentially divisible, buyer to verify) property in Silver Lake & carry back of 2nd note of $289K or more.  Listing price is $1.089,000.  20% down, balloon due for balance in 5 years, buyer pays closing costs, secured by home, subject to credit, history & background check.  Terms are flexible. If you have a good offer, present it.  Thank you.

@Brandon Hall  I like that idea.  It sounds very do-able.  Thanks for the response.

@Jay Hinrichs Yes, I get what you say.  Paying the $ can be simpler, but I like to check out all the options 1st, just because it's interesting what you can do when you ask other people.  Thanks for your response.

@Loren O. & @ Daniel Chang - Yes, there is a state income tax & local tax component as well.  And the house may sell for as high as $1.2MM which would then be ~$91K in capital gains tax, so as the am't creeps higher towards $100K, it starts to look like real money. I disagree that tax can only be deferred for as in the scenario where we take back a 2nd note for any am't above $800K for the house, the payments can be made over time, which then can be paid in years when there is no W-2 income or offset against numerous mortgage interest deductions.  I do think advance planning can be useful

@ Manolo D. - I used to feel that way, but don't anymore.  Now I feel it's just like starting a business.  It's all risky.  I also now feel, that it's imperative to put your $$ to work and equity is your money.  It has no rate of return as it sits there and it's at risk.

@Matt Castle - This is a definite possibility.  But, I went to a Meetup here on Saturday & discovered yet another scenario.  We have a street to street lot, almost 6K sq ft which is rare in this part of L.A.  The lot was 2 separate lots in the 20's, so there's a possibility we can divide our lot into 2 lots which if sold separately may yield a higher return.  One realtor I've spoken to about this says it is not advantageous, that it will merely decrease the price of the upper lot with the house.  But I've spoken to a potential equity investor who suggested we sell the property to a partnership, split the lots and sell both to a local developer.  Running this scenario past the escrow company today and an R.E. attorney.   Thanks!

Hi Alex-- yes this is one of the scenarios we're considering.  Still collecting the model data then we'll run the numbers to see which is the most advantageous.  Thanks for your response.

@Alex J.undefined