Beloved Job Perks

When people ask me what I do I tell them that "I Fight Homelessness", which is a 100% true and accurate, albeit unexpected answer. After the person looks at me with confusion or compassionate adoration I go on to explain I am a Realtor and I love this gig.  Someone wise once said that if you find a job you love, you'll never work a day in your life. I feel that I have not worked in years. In the right way, of course. One of the many perks of the job is getting to meet lots of different people from all walks of life. Some are really cool. Some are so cool that they make me custom mugs as Thank You presents. These rarefied few are so appreciated I occasionally blog about them.

Yes, the lovely couple who bought this cute Highland Park Craftsman are quite a errr....crafty pair. Hubby is a sculptor by trade and sometimes would go view houses with makeup blood on his hands and clothing. Wife is an art teacher, craft beer brewer and creator of my lauded mug. This is a talented pair to be certain. They made me this mug which has different catch phrases from our two month house hunt. "record players", "lighting fixtures  and my favorite "claw foot tubs.". I feel so delighted they gave me such a cool present I am blushing. In keeping with their outstanding Karma, they got an excellent deal on this 3+2 dollhouse in BOOMING Highland Park 90042.

To give you an idea how expensive Highland Park is getting, I just sold a house the next street over last month for $530,000 that was only about 100 sq. feet bigger than this one. My clients H+D got this property for $333,500. Their mortgage payment is under $1500 including everything. This is a great deal that went to great people who deserve to have an affordable and cool house to start their lives in. They could rent this for probably $2000-$2200 and make positive cash flow from day one. Buying Real Estate right now at these relatively low prices and holding on forever is a wise financial move. The neighborhoods of NELA are very hot right now because they are still affordable for most and near downtown, Silver Lake and Pasadena. The lesson learned here is that if you are a good person and you are patient, you can get a great property if you heed the advise of your friendly broker. Bravo guys!

Updates from NELA - it's a Sellers market out here.

Feeling that summer heat in the real estate market? If you are trying to buy a house right now and you've been getting burned by bidding wars you're not alone.

OK, I'll stop with the all the cheesy Realtor summer cliches.

Summer is always the busiest time in the residential real estate market. It is has been since I got into this industry in 2003 and I'm pretty sure it has always been that way.  There are more buyers out putting offers on properties in Summer than any other season. Pricing becomes more competitive, over bidding happens most frequently in the Summer and people start acting a little house crazy. Traditional explanation of this phenomena is that parents want to move while their kids are out of school and this makes sense because after September the market usually calms down. Below is a graph of total units sold in Highland Park 90042 and Eagle Rock 90041 over the last two years. Note the big month of June in all three years, consistently among the highest on the chart.

But there are other forces at work this particular year. This Summer prices are way up in my East side neighborhoods of Eagle Rock, Glassell Park and Highland Park. Gentrification, relatively low prices for Los Angeles and the abundant "hipster flips" are all factors causing NELA  to explode in popularity and price. Here is a chart showing the medial sold price by month in zip codes 90041,90042 and 90065. The median price is up 20% year over year. That's quite a bump. This can't all be because of hipsters moving in droves to the area and snatching up rehabbed craftsman houses, can it? I don't know.

Another colorful LA neighborhood map is a variation on the same theme. This shows the number of sold single family homes in Eagle Rock is up 43% year over year from 4th quarter 2010 to 4th quarter 2011. A healthy increase in sales volume and on par with some other areas of the city. Look at all the neighborhoods in red (increasing in sales) around LA. 100% increase in Hollywood in a year? That is startling. Market volume is increasing in our neighborhood. More volume does not automatically equate to higher prices but in this case it seems to.

Here is a typical case study of the current summer buyer frenzy in NELA. Below is a picture of an LA times front page from June 2012.  The blue house featured in the picture was one in Highland Park just off York Blvd. It was a nice 3 bedroom 2 bath house at 1428 Mt. Pleasant. It was not a flip and was not in excellent condition.  It was listed for $379k. I showed it to one of my buyers who loved it and bid $450k on it. It got over 60 offers in two weeks and sold for $542k all cash.  So that means there are 59 other ready willing and able buyers who did not get this house and are still out there looking. After losing out in a few bidding wars, many buyers will get frustrated and write ridiculously high offers on the next property they like. This perpetuates the overbidding cycle and pushes prices up quickly.

So what's a buyer to do? Be patient. Unless you have to buy right now, it's OK to wait until after the school sensitive buyers exit the market and things calm down in October. Don't get frustrated and overpay for a house-there will always be more out there. Although the market appears to have turned the corner and is now climbing prices are still low and interest rates are very low. There are still many more foreclosures in the pipeline that will need to work their way through the system and will hold prices down (unless all the flippers swoop in and push them up). I personally don't think the foreclosure backlog will be cleared out before 2015 so most buyers still have time to snag a good property in this real estate market down turn.http://www.facebook.com/photo.php?fbid=490539398592&set=a.211591738592.161164.211591103592&type=3&theater

Sky's Gorgeous New Listing in Hip Highland Park - 5656 Aldama st. 90042

5656 Aldama st. is my new Preferred Realty and Loan listing in the hot LA neighborhood that everybody seems to ask me about, Highland Park. Highland Park is a hilly and historic area in Northeast Los Angeles (NELA to the locals) just North of Downtown LA. "HLP" runs along the Arroyo Seco and 110 freeway and has many beautiful views of Downtown and the San Gabriel Mountains from its palm tree lined streets. HLP is on the upswing and is gentrifying quickly just like Silver Lake did 10 years ago as artists, musicians and creative types flock to the lush valleys and hillsides. New restauraunts are opening on York Blvd each month and the Highland Park Art Walk is getting bigger all time. In the last couple of years Highland Park has blossomed into a hip, fun and stylish neighborhood. It is very centrally located on the East Side of Los Angeles, no more than 10 minutes from Downtown LA, Pasadena, Glendale, Burbank, Silver Lake or Echo Park. There is a Metro Stop to allow train access all over the city and there are three freeways nearby making it a short trip to anywhere. Prices in this neighborhood are lower than neighboring South Pasadena and Eagle Rock but home prices in the zip code 90042 is steadily increasing as more and more people discover the area and move in.

Location of 5656 Aldama in Highland Park, Los Angeles CA 90042.

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My listing at 5656 Aldama is situated essentially in the middle of Highland Park nearby both the York Blvd. and Figueroa Blvd. commercial areas. This historcal home has been painstakingly renovated and brought back to life as a stylish oasis. The grounds of the home are very lush, with tall mature trees all around. This is a "Green" house in every sense of the word.  In the front yard are drought tolerant succulents on top of xeriscaping to be very water conscious. Giant old bamboo trees line the North side of the property and provide shade and privacy with an Asian flair.

5656 Aldama st. Front View

Standing on the driveway 

Open the vintage 20th century front door to find the entry area bathed in warm light from the beautiful antique lighting fixture.

Step inside the home and take in the open floorplan. From the entryway you can see the living room, dining room throgh the kitchen all the way back into the laundry area.  The living area is large and inviting and presents an excellent venue for entertaining.

Original Craftsman Box Beams in the Living Room provide classic architectural appeal. Recessed lights and a custom vintage lighting fixture illuminate the eco-friendly carbonized bamboo flooring throughout the house.

 

The Dining Room features a truly one of a kind chandelier. Bar stools so we can belly up to the kitchen counter.

Sleek modern kitchen with concrete countertops and stainless steel appliances. Open floor plan to it's highest and best use.

Behind the Kitchen is an exit to the outside and behind double doors is a full laundry room. 

Going into the Hallway between Kitchen/Master Bedroom/First Bathroom and Second Bedroom

Same Hallway looking the other direction from the Master Bedroom

The Hallway Bathroom

Bedroom #1. TONS of natural light pours in through the dual payne energy efficient windows.

Bedroom #2

Master Bedroom

French Doors lead to the back yard.

His and Hers Closets in the Master Bedroom

The Master Bathroom has Bead Board walls and features a gorgeous claw foot bath tub. 

Carrera Subway Tile Floor in the Master Bathroom

The Back Yard

Door into the Laundry Room+Kitchen area

Driveway leading to two covered parking spots and at least 3 other parking spots. 5656 Aldama has ample parking.

5656 Aldama st. Los Angeles (Highland Park) CA 90042 is 3 bedrooms 2 bathrooms with 1272 square feet sitting on a 4000 square foot lot. The owners renovated everything and did the work with permits. The property is listed for $439,000. FHA buyers welcomed.

For more information or to schedule a showing contact Sky Minor at 310-709-8283

Our Rave Reviews

These are reviews that some of our happy clients posted on Yelp about Preferred Realty and Loan.

We take our customer satisfaction seriously and we always try to keep it fun.

Preferred Realty and Loan agents Sky Minor and Rachel Mintz

Reviews from Yelp.com

• REVIEW FROM JONATHAN R.

  

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  • Jonathan R.
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  • Los Angeles, CA

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  7/15/2008First to Review

  I've never encountered another real estate agent with more concern for getting the best house for ME, at exactly the right time with a killer interest rate on my mortgage. Sky's been infinitely patient and aided me in searching for exactly what i want in a house as well as advising me on the exact moment to by. It's a true no pressure approach and the man understands the housing/loan market better than anyone I've ever encountered. I can tell some of the other agent's I worked with before I found Sky are only interested in a quick commission pushing you to make offers on houses that don't even make sense... Or not putting in any legwork at all! Seriously, i didn't make an offer on anything for the first five months I was shopping with Sky and it was at his urging because he felt the market was still dropping! Now I'm looking at buying an AMAZING house for cheaper than I ever Imagined....
  
  HIGHLY RECOMMENDED!!!!

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• REVIEW FROM TYLER P.

  

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  • Tyler P.
  • Los Angeles, CA

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  7/21/2011

  No one likes long Yelp reviews right?
  
  I'll make it simple: if you're even THINKING about buying a house (especially on the East Side), give Sky a call. Just do it... thank me later.
  
  If you have more time to read specifics, however...
  
  Pros (in order of importance):
  
  -Sky likes a good bargain (being active in real estate himself)... and that translates very well with investment savvy clients like myself. This is incredibly important. A lot of agents (95% of them) won't go the extra mile and take the risk and submit an offer for a dangerously low price because it means less commission for them, and it could cost them the deal. They'd rather just make excuses as to why the house is "worth" the ask price and not make an effort. Not so with Sky... he'll go to bat for you and has a talent for throwing around ball park numbers with the seller's agent to find out where the absolute floor is, ie where you're almost spitting in the seller's face. Sounds crude, but that's all potentially future money you'll be paying out of YOUR paycheck, right? We ended up taking 15% off the ask price after several negotiations, which is pretty good.
  
  -Seems like the guy genuinely enjoys his job, and that he's done pretty well in real estate himself (owns multiple units), so there is a readily apparent feeling of "doing it for fun" that goes a long way towards not making you feel pressured to do anything you don't feel like doing because he's likely not THAT dependent on the commission. He's also genuinely fun to be around and has a redeeming sense of humor, not like other stuffy agents.
  
  -A "knock your door down" professional across all levels. Half the time, my wife and I were done for the day, but he always had more suggestions to go look at. Even though we ultimately bought one of the first houses we saw, there were a few that we saw in the later stages that that very well could have been veritable backups had our primary fallen through. That means a lot to a buyer, to have options.
  
  -Supremely more tech savvy than any other agent (which is important... up to the minute automatic updates on market moves and new listings in your exact desired market, and lightning fast with emails).
  
  -Knows the market unbelievably well (I mean, laughably well... ie pointing out new trends in housing, and several houses that were done by same developer that look 100% alike, even though 10+ miles apart)
  
  -Last but not least, free lunch 8)
  
  Cons:
  
  -None. Absolutely none.
  
  I would advise you call him soon, though, because his weekends are starting to fill up.

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• REVIEW FROM MICHELLE C.

  

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  • michelle c.
  • cranky
  • Los Angeles, CA

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  12/1/2009

  Driving around looking at open houses, I came across one of Sky's listings. As soon as he heard I would be going the FHA route, he was straight-up and said why that house wasn't for me. We got to chatting and it seemed like we had a similar mindset, plus he liked my tokidoki bag...which meant he had decent taste :) I wanted a multi-family property and my previous realtor had told me it would be near impossible to find in the areas I wanted (Eagle Rock/Highland Park). I don't think "impossible" exists in Sky's vocabulary.
  
  So...5 offers later, about 20 houses walked-through and a 30 day escrow that turned into almost 60 (thanks to my lender going out of business mid-stream and Wells Fargo losing my file for a couple days), I have the multi-unit property I wanted, have my first renter and am moving into my unit this weekend...all before my first mortgage payment is due.
  
  Sky found the property for me less than 3 days after it hit the market. We made an offer immediately and, thankfully, it was accepted. He's really up on technology...makes it easy to keep track of files when they're digital and texting/email is so much more efficient than faxes and voicemail. And in this market, a couple of hours lag could be costly as to whether you get that offer in or not.
  
  If not for Sky, the process would have literally made me INSANE. He stepped up while my first lender disappeared (while I was out of the country, no less) and found another one with an amazing interest rate. He rolled with the punches when I melted down because of all the FHA hoops we had to jump through.
  
  This is serious grown-up stuff, but Sky isn't stuffy and uptight. He's the right balance between professional and chill.
  
  In the end, he got me exactly what I wanted and I'm still kind of stunned that I am an actual homeowner now!

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• REVIEW FROM NATASHA S.

  

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  • Natasha S.
  • I like whole milk and lots of other things too
  • Los Angeles, CA

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  1/10/2010

  I second everything Michelle C. says. Couldn't have said it better myself...from the great use of technology to not knowing the word impossible. Sky is no stuffy real estate agent, but he is a man that knows his stuff and that's what you want when you delve into this crazy house buying business. My husband and I knew we wanted to buy in the Highland Park/Eagle Rock area, and it was really refreshing to have an agent who knew the area so well and genuinely loves that part of LA like we do! Bottom line is we felt heard throughout the process, we were guided well, and we got the house. Couldn't have asked for anything more in an agent. Thanks Sky & Rachel!!!

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• REVIEW FROM YOUNGMI O.

  

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  • Glendale, CA

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  3/8/2010

  I found Sky through yelp and contacted him b/c we were contemplating listing our residential property and wanted to get some numbers on what we could realistically expect from the current market. Sky responded quickly and was extremely courteous and professional. Unfortunately, we decided not to sell right now but when we do, we'll be sure to contact Sky for assistance. I'd recommend him to others in the area. Thanks Sky!

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• Bruce M.

La Cañada Flintridge, CA

6/5/2011

highly recommended!!!!

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• Bijou S.

Beverly Hills, CA

5/6/2011

When we begun the housing search we'd tried a friend's real estate agent and to say I was less than impressed is to severely understate the issue. So I got on line and did what I do best - research! I found Sky and Rachel through Yelp, they sounded like the kind of people I'd want to work with and sent over an email right away. I got a quick email back and we were in business!

Throughout the entire 9 month process Sky and Rachel were always available, very knowledgeable, super tech savvy, which I appreciate to no end (can you imagine receiving multi-page faxes every single time you put in an offer?) ick, fun, friendly, and they made the entire process as pain free as it could get given that we had some.......let's call them challenges.......with the seller.

Fast forward to last week when we got the call that it.was.done. I felt like a ninja should have appeared a la Mortal Kombat and said "House Acquired!". Fun times. Thanks to Sky and Rachel, we'll be in our very first home before BBQ season, and that ladies and gents is why Sky and Rachel are the BEST.

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• chanokko r.

Los Angeles, CA

11/6/2010

I found Sky online when I was looking for a house in Highland Park. He seemed to be pretty active in the area that I wanted to be in so I called him up. He was very nice and answered questions for almost 30 minutes. He told me what I needed to to do to buy my own house, which I had read online but it was easier to understand when someone is personally explaining it. I had already gotten pre-approved for a mortgage so we went looking for houses the next weekend and we saw 12 in one day, which really gave me a good idea of what was on the market and how much variation there is between houses. Sky does not waste time in showing people houses! We wrote two offers but both of them were beat out by all-cash buyers, which Sky said is common in this down real estate market. The next time we went out we saw nine more houses. I put an offer in on two more and one of them got accepted. Going into escrow was an intimidating thing because I did not expect the huge amount of paperwork that has to be filled out. Sky told me in plain English what everything meant and explained the significance of all of the papers. We got the house inspected and we found some problems. I was worried about it but Sky told me what steps would be taken to correct the problems, and what we would ask the seller to credit us for. We ended up getting more money back from the seller for the closing costs than it cost to repair, so I was really happy about that. Sky is very tech savvy and he was always quick to get back to me, which I really liked. All in all I was pleased with how Sky got me my house.

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• Andrew P.

Los Angeles, CA

8/8/2010

As first-time homebuyers, other agents were completely uninterested in talking to us until we had pre-approval on a loan. Sky talked to us right away and got us connected with a lender. He and Rachel showed us dozens of homes in the neighborhoods in which we wanted to buy (Eagle Rock, Highland Park, and Echo Park) and wrote even more offers.

Sky is knowledgeable, patient, and very concerned with making sure you get what you want.

Four months ago I thought there was no way we could afford a house we would like in LA. Today we're living in our own home in Mt. Washington with a mortgage no more than we paid in rent - and it's all thanks to Sky Minor.

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• audrey j.

Mission Hills, CA

7/8/2010

If you're a first time home buyer, I completely recommend Rachel and Sky. Right from the very beginning, they have been client advocates by making my satisfaction and happiness their ultimate goal. Knowing nothing about the world of home buying, they have to dumb down the process for me but was never condescending, but in fact, always understanding and most helpful and patient. They work quickly and efficiently, and I love that they're tech savvy, which makes communication a gazillion times better. We hit some bumps here and there, but they were always packing with an array of solutions! I even got to close escrow a week before the estimated date! Rachel and Sky are freakin awesome! Yay!

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• John G.

Los Angeles, CA

3/8/2010

On the strength of his website and other Yelp reviews, I called Sky to ask what he thought of an interest rate I'd been quoted for a refinance, thinking he might be able to give a better quote. Instead, he said he thought the rate was fair and that there was usually not a lot of difference among them. His honesty and his willingness to talk about a few related real estate issues when it was clear I couldn't do anything for him were really refreshing. A super guy.

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• Brian S.

Denver, CO

Updated - 12/13/2009

I'm a repeat customer. This is the 2nd Mortgage that Sky has helped me get. I would highly recommend him to anyone looking to refinance or buy a new home. I'm self employed and have always had trouble when it comes to getting a home loan. The think I like about Sky is that he gets things done and always has time to answer your questions. He's also a kick-ass drummer.

1 PREVIOUS REVIEW: SHOW ALL »

• 
  5/14/2009

  This is the 2nd Mortgage that Sky has helped me get. I would highly recommend him to anyone looking… Read more »

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• jeannie g.

Los Angeles, CA

12/10/2009

Thank you to Sky Minor and his staff for their limitless efforts in getting me my home.

Sky and his staff worked above and beyond to get me the home of my dreams. I always felt comfortable and confident to express my concerns without ever feeling pressure from Sky or his staff, and they were always available for any and all questions and concerns and made me aware of what was going on during Escrow, I always knew they were working hard to get me my home. They never gave up and always showed patience and understanding with an upbeat attitude.

I'm so thankful to Sky and his staff during this house hunting and escrow process, and I look forward to turning this house into a home for my family.

Thank you Sky, Rachel and Cesar!!!

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• Bastien B.

Burbank, CA

9/3/2009

It was really a pleasure to work with Sky in finding-buying my new home. He has the ability, in today's complex real estate market, to make any complicated situation simple. He really went the extra mile in helping me finding the perfect house and all his advises were extremely valuable.

It's sometimes difficult to find a Real Estate that you can really trust, and Sky's realistic and judicious advices made the purchase of my house totally easy and smooth with only good surprises!

I definitely thank him for making my dream come true in such a professional and friendly way.

HIGHLY RECOMMENDED

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• Scott M.

Los Angeles, CA

Updated - 7/26/2009

UPDATE: So I kind of stopped looking for a house to buy after last summer because every area seemed to be dropping so fast it didn't make sense to try and buy a house that would be worth $20,000 less next month. I winced when I told Sky that after he had driven me around three times (and paid for coffee twice!). The realtor that I had known a couple of years before was more competitive and not as easy going and she would have flipped out and I thought that Sky would do the same but suprisingly, he didn't get upset at all which really impressed me. He was totally cool about it and agreed with my logic. That is what all Realtors need to be like! Well, he kept sending me what he thought were good deals and I saw the prices begin to go up a bit in May of this year, so I took that to mean that it was time to resume my search. I called Sky and within a day, we were back in his Prius seeing 15 houses in 4 hours. I found a really cool area of Mount Washington and a house on Division street that we wrote an offer on and we're waiting to hear back. I can't say enough good things about Sky Minor as a Realtor, because he is very patient, extremely knowledgeable and doesn't pressure you into writing offers on houses that aren't right for you. I would call him first if you're looking to buy a house and right now seems like the bottom of the real estate market in LA because prices are going back up.

20 Filtered Reviews for Preferred Realty and Loan

Note: The reviews below are not factored into the business's overall star rating.

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• Stacey B.

Los Angeles, CA

10/23/2011

This is a late review because I didn't have a yelp account. I bought my house in January.
Sky is fantastic. He made me feel like I was his only client.
He was attentive, informative and helpful. He showed me everything from fixer-uppers to the top of my budget.

His people (inspectors, mortgage people etc) were just as professional and helpful as he was.
I recommended him to a friend who was looking at she ended up buying with Sky too!
We bought very different houses with very different budgets.

Sky was even helpful after the deal was closed. This is my first house. Previously, I owned an apartment in NYC but they are worlds apart.
Sky has been great with recommendations that have nothing to do with buying a home and everything to do with owning one.

I'd recommend him to anyone.

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• Brian M.

Playa Del Rey, CA

Updated - 10/13/2011

Mr. East Side proved that he can swiftly apply his skills over a broad range, selling my west-side condo in less than two weeks. And yes, he sold it that quickly in THIS market (summer 2011). In fact, he even found competing offers and made the process as lucrative as possible for me, while charging a fair realtor's fee.

All paperwork was completed electronically, which means I sold the place and didn't even have to leave the warm glow of my computer, except to visit a notary, only once. Sky is efficient, organized, and has a straightforward attitude that makes him easy to work with and more trustworthy than any other realtor I have encountered.

After working with him on home purchase, two refis, this sale, and he has earned the opportunity to be the first person I call anytime I think of buying or selling real estate.