My wife Maria and I bought a home in December of 2004 right when the housing boom in the valley was exploding with tracts and developments all over the place.  We were interested in the east end of the valley as I work in Indio for a large construction company.  I had worked in a development built by Lennar Homes and was impressed by their workmanship.  We went to the sales office and were put on the list.  Shortly after, we were called with the news that a home was available, and we signed the documents.  Then we were told a home in an earlier phase had fell thorough and we could get that one for a substantial discount.  We were elated and thought how lucky we were to get in on such a great deal.  We had upgraded tile and carpet installed and moved in right before Christmas.  I then poured a big patio and installed a large allumawood awning over the new concrete.  I also put in all new landscaping in the back yard.  We were so excited about our new investment! 

           
About a year later we refinanced out of our two adjustable loans into one fixed loan.  We include some debt from the upgrades and add ons.  Our new payment went up $400.00 but our home was appraised $100,000.00 more than we bought it for!

           
Then the bottom dropped out of the market.  Work in the construction business slowed down.  My second job went out of business.  We were in big trouble and had no idea what to do.  Every month we were dipping into our savings to pay our mortgage.  I´m no accountant, but that seemed like a recipe for disaster.

           
One day Maria and I were driving by a home in our neighborhood and saw a sign in the yard advertising a short sale.  We didn´t know what that meant, so we did some research.  We called you and you came right over and explained everything to us.  We went ahead with the short sale and we closed escrow in about two months.

           
We have moved to Del Webb Sun City and are renting a very nice home until the market comes back around.  Our credit took a small hit, but nothing like a foreclosure would have done to it.  If not for you Fred, I think that we would have been heading that direction.

           
We look back on the whole thing with some sadness, and regret as we really loved that home.  A lot of sweat equity went into that place over 4 years.  However, now we can feel lucky we got out of it as well as we did.

Thanks again for all your help.

Paul and Maria Stark

Sun City
December 29, 2008

January 2006 will be two years since I met Mr. Fred Prescott, an Associate Real Estate Broker of American Realty Concepts, La Quinta, California.  During that period, he has seen me successfully through two real estate transactions in the uniquely California format.  One transaction closed in 2004, the other closed in November 2005.

Through them both he has exhibited great knowledge of the business, immeasurable patience and extraordinary understanding, all of which were of inestimable value to someone like me who has lived in New York State for virtually all his life and with little or no knowledge of real estate investment.

Fred Prescott is versed in the vagaries of the real estate market, as well as its related financial institutions, all of which provide him with the unique ability to render "full service" attention to his clients.

Beyond being the consummate professional, I have found this man to be a true friend, one who is deeply interested in the health and general well being of his clients.  I have been extraordinarily comfortable working with him.  He has inspired confidence and trust, and I would not hesitate to recommend his services to any9one planning to enter the real estate market.

Sincerely yours,

Errol L. Hibbert, Ph.D., Assistant Professor

Nassau Community College

December 20, 2005

 

Fred's website was featured in the April 15, 2005 Advanced Access Weekly Marketing Newsletter: "Creative Content Produces Results" One idea that has been quite successful for many of our clients is adding pages with photos and information about local communities. Check out the following websites for some great examples: http://www.fredsprescott.com/ - Fred Prescott has an extremely creative section for his community listed on the front page of his website. The main areas that he works are highlighted and 'clickable', which go to content pages that enhance his website as well as attract buyers.

Here's what other realtors have to say regarding his website: My compliments, Fred.  You have an outstanding website! Mary Arey, Realtor April 17, 2005 I am a broker and have my web page with Advanced Acess also www.scottwieder.com.  You have a great web page. Scott Wieder, Broker April 16, 2005 I am a realtor in Michigan and was just admiring your web site.  Great site!!  Lots of great info.  Diane Ocenasek April 16, 2005 Fred, I just reviewed your website.  Awesome. Kathleen Erickson April 15, 2005

Fred,

I wanted to tell you once again how much we are enjoying our home and the wonderful community of La Quinta California.

As you know Patricia and I started looking at homes in the Palm Springs area just six short months ago, and now are proud vacation home owners.  Before we found your website, we had done all of our research we had looked at time shares, older residential homes, and even other communities across the valley. Several realtors had contacted us and provided leads which were
somewhat below our general expectations and family needs for a community. I still remember the support I received from your website and for our initial visit with you.

Your website was very informative and helped us not only understand the Palm Springs area, but also the value and terminology of real estate investment. Monthly newsletters, and informative articles, helped us understand getting the most for our investment. We really lucked out when we finally hooked up with you to tour some properties and see the valley. I am still using you
site today to keep up on recent news and understand more technical areas like 1031 exchanges.

The day we came out for a visit, I'm not sure how you were able to match our wish list so quickly, but you were very prepared and we found several nice properties that day  We were very excited to look at possibly owning one of these homes. One house in particular was extremely exciting, and you laid out a strategy to help us make a winning bid in a competitive situation. Thanks to your experience, we had an accepted offer on a great property that night.

Your ability to get the property was excellent, but when an out of town bank did not understand the process, you also helped us with a mortgage referral which turned around the closing in 48 hours. Even the title company was impressed.

We hope to have more interactions with you soon, and thanks for all the great tips in La Quinta (the Mexican and Italian restaurants have been excellent).

Thanks again Fred, hope to see you around neighbor!

Tom & Patricia Hammond