Adam Chinn

How much under the list price can I offer?
May 21, 2009 · Adam Chinn · 6 Comments

This is a question I am asked quite often.  Many people get their real estate news from what they hear on the radio, watch on tv, or read in newspapers.  What many do not do is actually speak to the people who are in the business and have up to date information on the current market.  Although I encourage my clients to ask any questions that comes to mind, it is my job and responsibility to explain to them what I have experienced in the market and where I think it will go from here.  Of course, I can not predict the future, but if the facts are studied, trends can be found.   I feel it is very important that I educate my clients on the current market, so that we can work together to accomplish the common goal. Read more

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Lee Ginsburg

One Buyer’s Loss is another Buyer’s Second Chance
May 6, 2009 · Lee Ginsburg · 6 Comments

30% of Real Estate Deals Don’t Go Thru. Maybe it is more, maybe it is less, but that is a pretty good estimate. So what does that mean to buyers and their agents? It means the property you lost out to in multiple offers or just because someone was faster than you does not mean it is gone forever. Read more

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Shokoofeh Nowbakht

Home Buying is a Team Work
May 4, 2009 · Shokoofeh Nowbakht · 7 Comments

keyJust wanted to share an experience.  One of my clients is getting a VA loan to purchase a house. Even though it has been taking longer than we had originally anticipated, it has genuinely been a teamwork all the way through. Buying a house requires all players to work together so that everyone wins at the end. The game started with my client choosing a great mortgage officer and getting preapproved. We then found a house he liked and made a good offer. My client offered the asking price. Did I mention   Read more

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Kathy Wall

A Few Bad Pennies….
April 26, 2009 · Kathy Wall · 12 Comments

About 3 weeks ago, I wrote an offer on a bank owned property in Hayward for a client of mine.     I tried contacting the agent representing the seller to let her know that I was sending an offer, but wasn’t able to reach her.     So, I emailed the offer and, also, faxed it to make absolutely sure that she received it by the deadline.  

Over the course of the next 3 weeks, I tried diligently to reach this agent.  I tried both calling and emailing.     Sometimes when I called, I would get her voice mail.  Other times, I got her husband who was listed as the co-lister, but knew nothing about the property.   He indicated that he had “taken the phone away from her, because if she kept taking calls, she would never get anything done.”  Read more

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Kathy Wall

Real Estate Jargon…What Do All of These Terms Mean?
April 6, 2009 · Kathy Wall · 11 Comments

We Realtors often bandy about tons of real estate jargon.  We talk to our clients and friends about short sales, REO’s, contingency periods, etc.     I have come to realize, however, that just because we know what all of this stuff means, not everyone does, so I thought it would be helpful to describe some of the terms we use.   Hopefully, this will give you some idea of what we’re talking about as we rattle on and on and your eyes are going bleary!  Here goes:

Contingency Periods:    We, generally, refer to these when doing our contracts.   As an example, we tell you that you will have a 10 day period to “remove  your property condition contingency” or 20 days to remove loan and appraisal contingencies.   What this really boils down to, is that these are the time frames during which you will have  the right to get your deposit back if  you cancel the contract.   Once you “remove these contingencies,” you are no longer entitled to get your deposit back, unless you can prove some sort of fraud.  Read more

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Lee Ginsburg

Positives of This Economy!!!
March 27, 2009 · Lee Ginsburg · 5 Comments

JEvery Negative Has a PositiveJ
Positives of This Economy

1.     Bay Area Housing Affordability has gone from 16% to 38%

2.     Debt of Americans is Decreasing.

3.     A Large Increase in People Volunteering.

4.     A Large increase in Military Enrollment.

5.     First Time Home Buyers can get an $8000 Tax Credit.

6.     Buyers of California New Homes can get a $10,000 State Tax Credit.

7.     People are able to modify or refinance their loans to an affordable payment.

8.     Businesses have the opportunity to clean up their books and start fresh.

9.     Great Opportunity to Purchase a new car or any other major purchase.

10.  Tax on Debt Forgiveness is waived. 
   
And one of my favorites; you can Buy any Foot Long Sub for only $5.00

Please add to this list of Positives
www.leesellsmore.com

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Jean Joh

FHA Loans for Distressed Properties?
March 19, 2009 · Jean Joh · 7 Comments

contractorI’m sure you’ve heard by now that FHA loans are making a huge comeback in the mortage arena.  After all, it’s one of the only ways to obtain a loan with a low down payment (only 3.5% which can even be a gift) as well as a less-than-perfect FICO score (currently around 620).  One of the main drawbacks, however, has been that the requirements for FHA loans have been a little more stringent regarding the condition of the property.  This becomes an even bigger problem when you take into account that many of the more affordable homes now are REOs (bank-owned) or short sales, where the property has not been maintained very well.  Well, I just wanted to share with you that THERE’S HOPE!  It is possible to get an FHA loan for properties that are in need of some maintenance.  How?    Read more

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David Wang

Are Home Auctions a Good Deal for Buyers.
December 19, 2008 · David Wang · 3 Comments

                

Any type of real estate investment can be profitable.  Like the stock market real estate is about timing.  Auctions have become more prevalent in recent months and many buyers have asked if auctions are better deals than properties listed on MLS.

This very excellent question simplifies three bigger topics.  First are you interested in just the purchase price, without concern of repair or remodeling costs? Next, have you done all the research you need to do with regards to the property, traditional sales have a contingency removal period.  Finally will you be satisfied in focusing on the least desirable properties on the market.       Read more

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