Phil McCollum

Phil McCollum's Real Estate Articles & Advice Newsletter

Phil McCollum REALTOR® (DRE License Number 01339323)
BRC Realty Group
700 S. Flower St
Los Angeles, CA 90017
562.225.5234
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Double the escrow, double the pain
DEAR BENNY: I own a house worth approximately $400,000. The current mortgage is $25,000. A company in Florida took over the mortgage about six months ago. The mortgage company handles the tax and insurance payments through an escrow account. Given the current schedule of payments, the account will have a positive balance all next year. The mortgage company now wants to double the escrow payments.
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Insulation job hits peculiar snag
Q: We are currently having fiberglass insulation blown into our 1850s house. So far they have completed the attic and the second floor. They have drilled the holes in the first floor. Now they are telling us that they cannot find the rubber hose they need to complete the project and it is too cold for them to complete the project and we need to wait until spring. I would like to know if the cold weather is a factor and if you know what the rubber hose is called, which they claim they cannot find.
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Doing double take on condo privacy DEAR BENNY: I own a condo that has a property management company with an active board and bylaws. Each individual unit has a cement patio with a privacy fence (approximately six feet high) around it. The bylaws regulate what you can have on your private patio. There are a few things that I do not understand in this situation. ...more


Buyers master contingent-sale offers Most repeat homebuyers don't like selling their current home until they know where they're going. However, most repeat homebuyers can't qualify to buy before selling. So, how do you structure a contingent-sale offer so you get what you want without being homeless? ...more

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	Phil McCollum REALTOR® BRC Realty Group 700 S. Flower St Los Angeles, CA 90017 562.225.5234 Contact Me Visit My Web Site



Green apps on the run Many people want to do a good turn for the environment but simply are overwhelmed by the flood of green data, products and services. ...more

Divorce leads to default DEAR BENNY: I bought a home with my husband in 2002. We are both on the mortgage. When we got divorced in 2006, he bought me out and I signed over the quitclaim deed of the house to him. ...more

Backup offers give sellers a Plan B Every seller's dream is to receive offers from more than one buyer. Although multiple offers were scarce last year, in some markets and price ranges listings that are priced right are receiving multiple offers, particularly in the low-end foreclosure markets. ...more

Best payback on remodel Q: In your opinion, what home improvements (kitchen remodel, new front door, or wood floors) offer the best payback on investment when you are trying to sell? ...more

Home prices put to ZIP code test The wealth created by the housing bubble has been wiped out, according to Lawrence Yun, chief economist for the NATIONAL ASSOCIATION OF REALTORS®, who spoke at the group's annual conference in November 2009. Does this mean that if you bought your home in 2005 in an area that experienced rapid appreciation from 2004-2007, you'll lose money if you sell today? ...more

Southern California Home Buyer's Fair two weeks away With interest rates at historic lows and home prices at affordable levels, now is an ideal time to buy a home. Chances are you have many questions, ranging from how to find and qualify for a mortgage loan to closing escrow and moving in. The Southern California Home Buyer's Fair, March 13 and March 14 at the L.A. Convention Center, is the place to go for answers. ...more

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