Appraisers… what’s their real job description?

October 9, 2008 · Nicole Machado · 5 Comments

Since when did appraisers become home inspectors? Just curious as I encountered a never before sitaution today… As my property inspector was packing up from a routine property inspection, the appraiser drove up (early I may add) to what I thought at the time was to appraise the property. Read more

The Human Cost of the Troubled Economy

October 5, 2008 · Jean Joh · 1 Comment

Last week, I was “on the floor” answering phone calls for our company, when I received a call from someone who was interested in one of the rentals we had available. We arranged to meet the following day to look at the house of interest during his lunch hour. When we met, I was surprised to learn that this gentleman actually lived right down the street from the house we were viewing. He shared with me that he currently owned his home but that his mortgage payments had become unaffordable and that he was already several months behind. He said he had no choice but to put it on the market as a short sale, rent for a little while and hopefully try to buy a home again after a few years. He also told me about his large family and how difficult it was to be going through this process right now.

How much does it cost to make an offer?

October 2, 2008 · Shokoofeh Nowbakht · Comment here

“How much does it cost to make an offer,” my first time home buyer asked. Nothing, but you do need to write a check for up to 3% of the purchase price, made out to a title company of your choice. This is the “earnest money,” or “good faith money.” This is not a down payment, but just a deposit to secure the offer or contract to show how serious the buyer is. In the simplest words, by default, buyer has 17 days, unless otherwise stated in the contract, to cancel the contract and get their deposit back.

Can I really buy a house in the Bay Area for less than $200,000?

September 24, 2008 · Karin Cunningham · 1 Comment

Antioch, Ca. 4 BR, 2 BA, 2 car garage, 8,000 sq ft lot…..$176,000

I’m serious!

DEAL or NO DEAL

September 23, 2008 · Lee Ginsburg · 3 Comments

Deal or No Deal?

Everyone’s definition of a “DEAL” is different.

Many of today’s buyers are in the mindset that a “Deal” is purchasing a home below current market value. What is current market value? It is the price a willing and capable buyer is willing to pay and a seller is willing to accept. Below Market sales do not occur in today’s web 2.0 world. Information is plentiful for both the buyer and the seller. Properties priced below market value are not kept a secret for long. Homes listed at below market prices wind up getting multiple offers and sell at the price determined by the bidders which is now the market price. Many of these people looking for this type of “DEAL” have not purchased anything and may not because they continue to offer below the market price. They are not the only buyer out there. I recently heard of aproperty with 89 offers. The demand is still very strong. Before the internet many properties were kept a “secret” because it took more time, effort and money to get the information out; so yes purchasing below market value was possible then but not now. Read more

8 Reasons why you should have a real estate professional on your team

September 18, 2008 · Roweena Nastor · 1 Comment

Most of us do not purchase or sell real estate monthly or yearly but there is much more available from a real estate professional than buying or selling a property. If someone were to ask you, “Do you have a real estate agent?” what would your reply be? Read more

Is the Bottom In Sight?

September 18, 2008 · Lee Ginsburg · Comment here

The window is open but could be closing soon. The window I am speaking about is “The Window of Opportunity”. In the Bay Area we might be seeing the light at the end of the tunnel. The bottom might be in sight. Why am I saying this? It is economics 101; Supply and Demand. On the Supply side in the Bay Area we are seeing the Supply stabilize or even decrease in certain areas. Read more

Knock Knock is anyone Home? (I hope not)

September 10, 2008 · Sophia Lin · Comment here

Should a Seller be present when a Buyer is previewing their home? As an experienced Buyer’s and Seller’s agent, I understand both sides. I believe it is in the best interest of both the Buyer and Seller for the Seller not to be present at a showing (unless in some understandable circumstances) I like to use the simple analogy of when one goes to the store to buy a pair of pants. We look around for what we like, we see if we could afford it, and then we try it on (the most important part, if it doesn’t fit, we don’t want it). Now when shopping for a house the part where we try it on is when we are previewing the home (the most important part) When Buyer’s are Read more