“Foreclosure Listings: What You Should Know” – Call SkippyBean Realty – Brooks Landry

“Foreclosure Listings: What You Should Know”

 

The bedrock of the residential real estate industry is the American Dream of owning your own home. But the current market has seen a sharp rise in another facet of the industry: the ‘strictly business’ opportunity created by the rise in San Ramon, Danville, Pleasanton, and Dublin real estate foreclosure listings. Everyone from first time buyers to seasoned investors are newly aware that housing market conditions warrant a serious look at the unusual bargains that are opening up.

 

The appeal is understandable due to some commonsense consequences caused by the mortgage meltdown (and the headlines that followed).  When banks come into possession of foreclosed properties they find themselves in an unenviable position. Incented to sell them as soon as they can, they aren’t free to wait until the market rises to meet historic price levels. As a result, mounting numbers of those foreclosure listings are carrying price tags that are a fraction of their original market price.

 

For homeowners who see a second home as a path to create a passive rental income stream, foreclosure listings comprise tempting investment vehicles. And for first time homebuyers, the information in the same foreclosure listings can mean nothing less than a foot in the door of homeownership.

 

In both cases, the first step to buying a bank-owned property comes with finding reliable San Ramon,Danville,Pleasanton, andDublinforeclosure listings.  Looking for a trustworthy source means finding one that features up-to-date and accurate information.  Too many dedicated “foreclosure” websites offer endlessly duplicated, incorrect, or woefully outdated information. Relying on them can send would-be buyers on a frustrating series of time-eating wild goose chases that end up locating houses that have already been sold.

 

One way to test a source of foreclosure listings is to take advantage of free trial subscriptions where they are offered. It’s a money-saving way to determine whether a foreclosure source can be trusted to include attractive properties listed soon after they come on the market. The good news is that the online field is developing rapidly — so much so that it may even be possible for you or your agent to inquire (or even begin negotiations with the bank) through the Internet.

 

In any case, the opportunities that foreclosure listings represent also carry special characteristics that canny buyers need to take into account. Home inspection rules are one example. Banks are under no obligation to disclose information about a property’s flaws in the same way that regular homeowners must, so it’s imperative to make a physical investigation of a foreclosure listing before proceeding further.

 

If you are curious about your chances of finding a great deal in February’s foreclosure market, I will be happy to send you the San Ramon, Danville, Pleasanton, and Dublin foreclosure listings as well to help you identify any and all that may fit your goals.

“Pinch Me: I Must Be Dreaming” – Brooks Landry – SkippyBean Realty -San Ramon Real Estate

If Rip Van Winkle had been cat-napping for just a couple of months, his story wouldn’t have been nearly as interesting as the one Washington Irving dreamed up. And I’m guessing that if our San Ramon, Danville, Pleasanton, and Dublin housing market hadn’t been slumbering for as long as it has, January 21^st Rasmussen poll wouldn’t deserve all that much attention, either.

It came as good news. You would have to qualify it as ‘news’ because we haven’t seen anything like it in quite a while. In case you missed it, the Rasmussen Reports web site (http://www.rasmussenreports.com) ended January 30, 2012 by reporting what could only be described as a jarringly positive finding. “Belief among homeowners that home values will increase during the next few years is the strongest it has been in a year, as is confidence that their homes are worth more than what they still owe.”

Taken alone, one housing market survey is certainly not compelling evidence that a long-awaited turnaround in housing has begun. This was a poll finding gleaned from a respectable national sample (670 homeowners), but is still only one blip on a screen which, seen from afar, would look like a pretty flat horizontal line. Not no activity (especially here in the Easy Bay) – just less than normal activity. And a lot less than people are accustomed to.

In other housing news, most reports had national home sales numbers up and prices holding the line or slightly down…in other words, exactly what we have come to expect: news of no new news. But the Rasmussen survey stands out because of two factors. First, Rasmussen’s reputation is stellar. The organization produces the most trustworthy political surveys, and that’s important because their reliability can be immediately confirmed by actual voting results. They are Number One.

Second, this is a survey of attitudes about the housing situation, and that means it allows people to express their opinions rather than report their actions. Pollsters will tell you that people are much more likely to fudge reality when asked how they actually behave rather than how they feel.

This poll tells us that in one month’s time, the number of homeowners expecting their homes to grow in over the coming year grew by 50%. True, the majority (though a slight majority — 51%) still believe that housing values will remain stable. But the size of the group who believe a turnaround is taking place is surprising. And unexpected. Just as ol’ Rip was taken aback to find George Washington’s portrait hanging where he expected King George’s to be, it almost makes you wonder whether you’ve been dreaming … or if you still are!

Why Use a Local Real Estate Broker? –SkippyBean Realty

Why Use a Local Real Estate Broker?

Whenever a San Ramon,Danville,Pleasanton, orDublinhomeowner decides to sell a home, it is tempting to consider selling without the assistance of an San Ramon,Danville,Pleasanton, orDublinreal estate broker. After all, who knows a home better than its occupant does? And there’s the broker’s commission – who wouldn’t want to save 6%-7% of the sales price? These are two distinct questions, and both of them are valid.

 

The answers to each are equally valid, and, surprisingly, they are also the same. The reason to use a real estate broker is so that you can make more money!

 

Perception

While it may not be true, many potential homebuyers who look for a San Ramon,Danville,Pleasanton, orDublin“For Sale by Owner” sign assume that the seller will be quick to bargain on the price. After all, they reason, the seller is probably saving something like 6% percent of the sales price by not paying a broker’s commission, so they should be able to come down in their price. Many buyers also assume that the DIY seller is unsophisticated. This may or may not be accurate, but it’s a common perception. It can lead some savvy buyers to attempt to take advantage of the seller during negotiations up to and during the closing process.

 

Negotiation

Some of the most important efforts put forth by a real estate broker on behalf of a seller involve determining an San Ramon, Danville, Pleasanton, or Dublin home’s current market value, staging that home to increase its attractiveness to bring in the highest offers, marketing the home to the widest number of potential buyers possible, and negotiating with buyers on the final sales price. Highly experienced real estate brokers have spent their careers negotiating for their selling clients…for them the process is second nature. Skillfully holding fast to a pre-determined sales price is not easy. It’s a skill most inexperienced homeowners find challenging when selling their homes without the assistance of a broker.

 

Statistics

Quite simply, homes sold with the assistance of a real estate broker sell for more than those sold by the owner. According to the National Association of Realtors, in 2011 “the typical FSBO home sold for $150,000 compared with $215,000 for agent-assisted home sales.”  This is the bottom line reason why, if you are considering selling your home and your aim is to get the highest sales price possible, it only makes sense to hire a San Ramon, Danville, Pleasanton, or Dublin expert to help. It’s why we are here, standing by to provide you with just that expertise

New Software for ALL SkippyBean Realty Clients!!

IT’S HERE!!!!

All of my homeowners in the East Bay have been wanting a program or access to a program that would give them an accurate….really accurate assessment on their homes market value and whats going on in their neighborhood.  This program is our monthly Market Snapshot that gives all homeowners accurate info on the most recent home sales and most recent active listings, including foreclosures and short sales in their neighborhood. If you own a home you need to check this out.  On top of the home value option it compares local schools with all the information and grades as well as lists local stores.  We can have it set up to a monthly email update, bi-weekly email update, or quarterly email update.

Check us out at http://www.SkippyBeanRealty.com and click on the Market Snapshot tab! Its Zillow times 100!

Short Sales vs. Foreclosure….What’s the difference? SkippyBean Realty

I’m finding that most homeowners in the San Ramon, Danville, Brentwood, Pleasanton, Livermore, and Discovery Bay Real Estate markets are too quick to give up and foreclose when there are a lot more options to consider. I get it…. in most cases homeowners with adjustable rates feel like they were lied to and want to stick it to the bank that didn’t explain the original loan they signed for. The best way to stick it to the bank is to work with the bank…….Let me explain. Yes it would be easier to stop making payments and wait until the sheriff came to kick you out after the foreclosure is sold. Why not try for a loan modification (which will not go through in most cases) but will keep you in the house for months (rent free)? After your denied for the loan mod and have not been making payments for months (hopefully saving your money) apply for a short sale with an experienced short sale expert. Short Sales take anywhere from 4-6 months to close (still not making payments and saving your money) and because you were denied for the loan modification you qualify for the HAFA Program which gives you $3,000 from your bank to help you relocate. It’s a not brainer….. You have not only stayed in your home rent free for months, you were able to save some scratch, and once you closed your short sale you received $3,000 and up from your bank to move.

Lending institutions have a 24 months grace period from when you short sold your home to qualify (if your credit is 640 +) to purchase a new home. This market