Shokoofeh Nowbakht

What is the Fair Rent?
December 6, 2010 · · 4 Comments

I worked at our Prudential California Realty kiosk at Tanforan Mall today. Someone asked how much rent I think he should pay. He explained the situation  that he just rented an in-law in Daly City 3 months ago.  Landlord did not sign a lease with him and asked that he pays only in cash. After 2 months he found out, not from the landlord but from a realtor friend that the the owner has received a Notice of Default or NOD from his lender. That means he had not paying his mortgage for the past few months. The property is now on the market as a short sale, but no ”For Sale” sign is posted.  Landlord failed to disclose this to the tenant at the beginning and tenant is very disappointed about this. He now feels that he should not pay the full rent since the owner is not paying his mortgage and also because he was not told about the situation.

What do you think the fair rent is?

Thank you,
Shokoofeh Nowbakht
www.Shokoo.com

Kathy Wall

Tenant Occupied Properties
June 1, 2009 · · 4 Comments

For whatever reason, over the course of almost 16 years in real estate, I have very seldom sold homes that were occupied by tenants. Right now, I am involved with 3 properties that are occupied by tenants. Wow! Is it ever tough.

These transactions are so complicated with items that you would never think of. In the last couple of weeks I have dealt with:

1) Having the key to a tenant’s unit get stuck in the lock. The tenant was out and I have no phone number for him. I couldn’t reach the property management company and I, certainly, couldn’t leave this man’s home with the door unlocked. Fortunately, one of the people I had been showing the home to stayed with me, had a tool kit and, literally, took the lock out and solved the problem. Read more

Dean Rizzi

January home sales in the west are WAY up!
February 25, 2009 · · 1 Comment

I just caught this article off of Google AP.  I’m passing it along because it gives more detailed picture of the January sales report.  NAR reports existing home sales where down to their lowest levels in six years.  However, if you look at the western region, they are up 32.1 percent from a year ago.  Although prices are down, sales jumped 57% in the bay area!!  Buyers are clearly taking advantage of the high inventory.  What a great time for young families to get into that first home!

http://www.google.com/hostednews/ap/article/ALeqM5h78GtI74ZouhZ1bCfF7cOWPQWKzwD96IS94O1

Nicole Machado

Open House drawing Black Friday Crowds…
January 12, 2009 · · 8 Comments

With the Holidays behind us, buyers are back on the Real Estate scene scoping out the latest inventory. This weekend I held a home in SSF open. I had over 65 groups come through and even ran out of fliers & ended up staying well after 4pm as buyers kept showing up. I can’t remember the last time I ran out of fliers or had to stay longer then the open house was scheduled. I felt like I was at a department store on Black Friday and everything was 50% off!
The home was a single family fixer, in a desirable neighborhood. I figured there was an abundance of buyers because it was the first weekend of scheduled open houses, come to find out it wasn’t just my open house that faired well to the buyer’s scene, it was everyone’s.
Every Monday morning my office has its sales meetings. In the meetings we take count of how many people came through our open houses. Today the count was 400. Those are huge numbers which gives us all something to ponder… Buyers are out in droves, prices have come down and interest rates are historically at all time lows, has the market hit its threshold? What are your thoughts? All I can say is when it’s your time to buy or sell, it doesn’t really matter what else is going on around you. That’s the beauty of Real Estate.

Shokoofeh Nowbakht

San Bruno Homes – Buy One, Get One 1/2 Off!!!
July 31, 2008 · · Comment here

Just Kidding!!! But, seriously, it is almost true.

875 Mills Ave. (2 br,1 bath) is listed for $398,900,

648 3rd Ave. (3 br, 2 bath) is listed for $499,000.

2 bedroom houses sold for about $600,000 and 3 bedrooms for about $700,000 two years ago in this area of San Bruno. Now, do you agree with me? Ok, let’s go shopping! Buy real estate before the SALE is over.