ATTN! Upcoming Court Date! 235 W. 46th

Calling all investors! Buyers! Speculators!

Hot off the press - We just got a court date!

235 W 46th St Los Angeles CA

3+1

1,288 sq ft on a 5,200 sq ft lot

The Court date is set for October 10, 2007

Time: 8:30am

Location: 111 N. Hill Street Los Angeles

Department: 11

Please let us know if you have any questions or if you would like to view the property

310-777-2858

http://www.sanbornteam.com/

Opportunity Knocks!

Hello Everyone!

We have a great opportunity for all those who are interested in buying a great home in a great neighborhood. Walking distance to Penmar park, this home has a lovely sunfilled yard and detached 2 car garage. Although this 3+1 home needs some tender loving care, it is truly a diamond in the making.

1019 Vernon Avenue, Venice, CA

$695,000

WOW what a deal!!! Call us and we'll be happy to schedule a private showing!

310-777-2858

We're Getting Multiple Offers on Our Listings. How do we do it?

So why is The Sanborn Team still getting multiple offers on their properties? Since they are probate sales, most of our properties tend to be fixers with years of deferred maintenance. Although some people think that the market is crashing and burning and all buyers and investors are running to the hills, we are still getting more than ever for our listings. So the question is: what does The Sanborn Team do that’s different from other agents?

The most important component to selling a home is price. PRICE! It’s about pricing the property so it creates its own market. We want the buyers to be Bees and have them swarm our properties. Our strategy has worked and here are some recent examples:

A property in San Gabriel was listed just below market and we obtained 18 offers just after 10 days and sold the property for $100,000 over asking. Although we did expect to get about $25,000 more than we listed it for, $100,000 was a shock. Apparently buyers and investors see the potential in this house and we were able to create enough Buzzing that we got more than we ever expected

A property located in Hacienda Heights received 7 offers after being on the market for 10 days. Why? We priced it low enough to get the buyers to buzz around and we sold it for over asking.

So it seems if you put out a nicely priced hive you’ll get buyers buzzing like crazy.

If you are having trouble selling your property, call us today and we'll make it happen!

310-777-2858. http://www.sanbornteam.com/

Beverlywood Adjacent Property

Hello Everyone... Opportunity Knocks!

We have a cute-as-a-button little Spanish fixer. It's a 2+1 with a large living room/dining area, den, large grassy back yard with mature rose bushes. Just east of Robertson.

8912 Gibson Avenue, Los Angeles

It will be going to Court on Wednesday August 29, 2007

Opening bid will be $656,750

Location: 111 N. Hill St Los Angeles

Department: 11

Time: 8:30am

Please call us if you would like to view the property. It's very easy to show

310-777-2858

Glendale Condos!

1422 Rock Glen # 301

Glendale, CA

Enjoy views of Glendale from this top story bright and light condo. 2+1.75 with large balcony perfect for enjoying the afternoon. The complex has a sparkling pool and the unit has side by side parking. Probate Sale.

A great deal at only $315,000!!!

538 Glenwood Rd #1

Glendale CA

Spacious 3+1.75 condo with large kitchen, fireplace in living room, washer & dryer inside. Located in a small complex this condo is in a prime Glendale location. Probate Sale.

A Great Deal at only $450,000.00

For further information and details please visit our website at http://www.sanbornteam.com/ or call us directly at 310-777-2858.

A New Tale from Probate Court

So today and yesterday The Sanborn Team was busy in court confirming sales of real property. On Monday we successfully sold two pieces of property and even had an over bidder on one of them. We successfully got more for the estate than they originally thought.

Today we confirmed a duplex in Long Beach for its original bid. We did not have any over bidders. Usually if there are no over bidders it simply means we got the maximum value we could.

We have some great properties coming up that will be going to court this month. To find out which ones, please email us at allison@sanbornteam.com or call us directly at 310-777-2858.

What is a conservatorship?

A Conservatorship is a legal process in which the court appoints a person to make financial decisions for another person who is determined to be financially incapable to make those decisions. A conservatorship proceeding is a different legal proceeding than guardianship; it may be done independent from or jointly with a guardianship proceeding.

More briefly, conservatorship is the legal right given to a person to manage the property and financial affairs of a person deemed incapable of doing that for himself or herself.

Sometimes real property in a conservatorship must be sold and the terms of the sale are like those of a probate sale. All properties in a conservatorship require court confirmation.

The Sanborn Team specializes in selling houses for conservatorships and getting top dollar for our clients. To learn more, call us: 310-777-2858

August 21 Beverly Hills Bar Meeting

DON'T FORGET!!!

Tuesday August 21st

Trust & Estates Section Meeting for the BHBA

Program will be Proposition 13 Changes in Ownership and Exclusions Common Reassessment Issues & Recent Developments

SPEAKER:

Richard S. Moon, Senior Tax Counsel, State Board of Equalization

DATE:

Tuesday August 21 2007 Registration/11:45-12:30pm Program: 12:30pm to 1:30pm

PLACE:

Lawry's 100 N. La Cienega Blvd Beverly Hills (Free underground parking)

For further information please click on the following link:

http://www.bhba.org/intus/event3/signup.asp?event_id=2121

We look forward to seeing you there!

ATTN! Upcoming Court Date!

Hello Developers... Investors... and Buyers!

The Sanborn Team has a wonderful opportunity to buy an income property. This property has two houses on a lot. Each unit is a 2 bedroom 1 bath home and they are both VACANT!!!!
The property is located at 6569 Orizaba Ave, Long Beach

The Court date is set for Tuesday August 21, 2007
111 N. Hill Street Los Angeles CA
Department 9
8:30am
Opening Bid $425,750

This is a GREAT DEAL! Don't miss out!

What is the minimum required as an overbidder in Court?

Q. What is the opening bid? How is that deteremined?

A. The opening bid in court must exceed the initial bid on the property and it follows this formula:

• The amoung of the original bid, plus
• At least 10 percent of the first $10,000 of the original bid; plus
• At least 5 percent of the amount of the original bid in excess of $10,000

OR

• It's 5% plus $500 of the original bid (this way is MUCH easier to remember)

The minimum overbid after the initial overbid will be set by the court at the time of the confirmation hearing. This is very simliar to an auction and the property gets sold to the highest bidder in court.

And what did the Fed Say?

So with all the turmoil in the credit markets, there was a glimpse of hope that the Federal Reserve would decrease interest rates. However the Feds agreed to keep interest rates at 5.25%. The Fed's primary concern right now is inflation.

To find out more visit the article at The Wall Street Journal (http://online.wsj.com/article/SB118650838435490620.html?mod=hpp_us_pageone)

This has been a disappointment for those in financial markets who hoped the Fed would more clearly hint at the possibility of a rate cut in the next few months. The good news is that interest rates are still the same and are not going up or down.

Although it can be tougher to get a loan these days, it's really important that you work with people that have experience and knowledge of previous real estate markets. Nancy Sanborn, of The Sanborn Team, has been selling real estate for almost 30 years and has been through some of the toughest markets. When it comes to selling or buying, working with agents that have experience is key to making sure that your transaction is smooth and seamless.

visit http://www.sanbornteam.com/ or call us at 310-777-2858

What exactly is happening in the credit markets?

If you've been living under a rock, you may have no idea what we are talking about when it comes to the mortgate industry. We thought for those who are interested in real estate to give you the scoop on what exactly is happening in the credit markets:

Recent market updates have addressed what is happening in our market, but those were more directed to the good old stocks and bonds. We would like to shed some light on the bigger picture - our current lending marketplace. You have banks go under during the past few months. Over the past few days, a few other banks, prime and subprime, have frozen their pipes, and their future remains uncertain.

So what is going on? Here's the simple answer: Essentially, some banks are facing what we call a liquidity crisis. This means that they are holding loans on their warehouse lines that they cannot sell. Or at least sell them at profit. (A warehouse line is like a gigantic credit card, in which banks fund their loans and then sell them off to the investors in bulk.) So, when these banks are stuck with millions of dollars of un-sellable loans, what are they to do? Take a loss, and get them off their line. This loss, often times, is what shuts doors down on banks overnight.

(check out this article at Wall Street Journal http://online.wsj.com/article/SB118644741706689960.html?mod=loomia)

As for pricing… you have seen rates skyrocket and not follow any correlation to the bonds. Here is why: The price tags on certain products (arms, pay options, secured pay options, alt a, etc.) are tied to certain risk factors. The risk factor has increased recently, and this is due to the increase in defaults. Investors are demanding more return / higher yield for the increase of risk they are taking on. Thus, higher risk = higher price. What was once a monthly, or weekly, bulk trade / sale, is now happening almost overnight, which is why you see huge rate increases overnight.
This means you will see products that we have taken for granted GO AWAY for a while or eliminated by some lenders, such as Stated Income, Pay Options. No Ratio. No Doc. And some banks have already done this.

Please know that, whatever the market conditions, we are here for the ride and will be sure to keep you up to date on what’s been going on. If you have any questions or would like to get more information, please call us at 310-777-2858.

Another Probate Term Factoid!

Q. When does a probate property NOT require court confirmation?

A. Although most of the properties we sell do require court confirmation, occasionally we do get properties that don't require court confirmation. Many people ask us, why does this property NOT require court confirmation?

Under the Independent Administration of Estates Act (IAEA), the administrator of the estate can handle the decedent's estate without court approval. The authority to administer the estate under the IAEA can be given by the decedent's will or by the court upon petition by the personal representative.

Properties that are in an estate that is being administered through IAEA can sell the property without court confirmation.

If you have further questions, please feel free to contact us at 310-777-2858.

Open Sunday August 5, Venice, California

Open Sunday August 5th

2-5pm

Come visit this little gem in Venice. Walking distance to Penmar Park, this traditional 3+1 has a lovely sun-filled yard. In need of some TLC, this is a great opportunity to get a house in Venice.

$695,000

Come by and say Hello!

Open House Sunday in Venice

Open Sunday 2-5pm

1019 Vernon Ave Venice CA

$695,000

A true Venice Gem! Walking distance to Penmar Park, this traditional 3+1 charmer is a great opportunity. With just over 1,300 sq ft and a lot at 5,000 sq ft, it is looking from some TLC. Detached garage.

Please stop by and visit us. We look forward to seeing you soon!

Q: When is a property subject to probate?

A: Property to which the decedent directly held title at his or her death is subject to a probate proceeding. Properties that are being sold when the person on title is under a conservatorship are also subject to the probate proceeding.

For additional information about Probate Sales, please visit our website at http://www.sanbornteam.com/

710 Bocaccio SOLD!!!

A Venice Diamond in the making was confirmed in court yesterday.

710 Boccaccio sold for $1,050,000. The property is a 3+1.5 fixer however it is located on a street-to-street lot and zoned R2.

This time we did not have an overbidder because the initial offer was $75,000 over the list price, which prevented overbidders from coming to court.

If you would like to find out more strategies of buying a probate property, please call us today and we will be happy to share with you. 310-777-2858