Spencer Real Estate Group...Experience Matters

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If It Smells Fishy...

It never ceases to amaze me the level of creativity that exist out there when it comes to those who would use illegal means to capitalize on a shifted or down market. The internet has spawned a new level of sophistication to the scams of yesterday. And today, the buyers and sellers would be well advised to ask questions and look before they leap. It should come as no surprise that currently the vast majority of fraud occurring is in the short sale and loan modification arena. This niche market (which currently represents over 50% of the transactions in our area) has been inundated by those who would use fraud and deception for their own financial gain to the detriment of those on whom they prey. In November of 2010, the Federal Trade Commission (FTC) implemented the Mortgage Assistance Relief Services (better known as MARS) act in an attempt to protect distressed homeowners from the ever increasing list of foreclosure relief scams. The primary function of this new rule is to make it il...
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The Freedom That Can Only Come From Accepting Responsibility

Happy 2020 To My Realtor Friends and Family, Of all the trainings that I have taken over the years, there are few that rank up there with a simple 4 minute YouTube video that I watched eight or nine years ago. The link is included below. It is a video about accepting 100% of the responsibility. And offer 0% in excuses (or blame). In my lifetime there have been times where I have faced challenges that I believed I would not be able to overcome. Challenges that I easily could claim that they were not my fault. However, defusing blame, making excuses, is a fool's folly. It serves no useful purpose. And, can only raise the level of difficulty in overcoming the hurdles that you must face. When we take 100% responsibility, our mindset changes. Our energy becomes laser-focused. And, our problems become more manageable. When a company adopts this culture shift across the board at every level, something magical happens. The energy level is far more positive. Solutions come ...
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A Micro Look At A Macro Market

Today there is only one home for sale in Rockpointe. Typically there would be between 4 to 8 units offered for sale this time of year. What we are experiencing in Rockpointe is what most of Southern California is experiencing. And that is a definitive lack of inventory. On the plus side this is certain to continue to drive prices upwards. But the caveat for this is that there are a couple of wildcards that could set our price point on a path of reduction. The first is that to day we have interest rates somewhere in the neighborhood of 4.5% for a 30 year fixed mortgage. Historically that number is about 8.5%. And for every point that that interest rates rise (and they certainly will) our potential buyers lose about $40K of buying power. This coupled with our relatively high HOA cost could make these homes unaffordable to our first time buyers, investors, and our move down buyers which are a major part of our primary target market. The other wildcard that could impact us is inventory. Ri...
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