Two major components of the price of any house are location and condition. If a foreclosed house – let’s call it an REO for brevity – is in a great location and is in good condition then that REO should sell for a value that is more or less equivalent to any similar house – shouldn’t it? If the REO is in disrepair, the house should sell for less than a well-maintained house in the same neighborhood. That would be a discount based on condition, not (1 comments)
reo: INVENTORY FOR NEWARK, CA IS PITIFUL – 6-15-12
- 06/15/12 04:40 AM
The inventory of single family homes for sale in Newark, Ca. is pitiful!!! Today, 6-15-12, there are 19 single family homes listed for sale on our MLS. On the same date one year ago the available number of houses for sale was 84! Is real estate alive and well in Newark, Ca.? If you are a seller, the answer is ‘yes’. If you are a buyer who is frustrated with the many other competing buyers who are also making offers on the houses that you like the answer is HECK YES! And yet, I actually talked to someone yesterday who said (1 comments)
reo: A MORAL OBLIGATION...PAYING THE MORTGAGE
- 03/12/12 12:32 AM
A man enters the confessional. Bless me, Father, for I have sinned. What are your sins, my son? I am not paying my mortgage, Father. Why not, my son? I got laid off, Father. I have no income but I have lots of obligations. Putting food on the table and keeping my medical premiums up to date (they go up every year) takes all of my unemployment check. And…my unemployment benefits will soon expire. Well, my son, I am not sure that I hear that you have committed any sin. Definition of SIN from Merriam Webster on-line dictionary 1 a : (7 comments)
reo: NEW MEDFORD TEAM LISTING AT 5816 HAFNER WAY, NEWARK, CA
- 03/11/12 07:23 AM
New Listing AT 5816 Hafner Way, Newark, Ca. Open Today from 1-4. The Medford Team has a new listing in Newark, Ca. I am the co-listing agent and will be holding this Newark house open today from 1-4. Come on by and take a look. Since it went on the market Friday I have gotten many phone calls from agents who want to show the house. Our inventory is low so all decent houses are getting a lot of attention. This is an equity sale and not an REO or short sale so any offer will receive a prompt response. With 3 bedrooms and 2 (0 comments)
reo: FREMONT, CA. SHORT SALE IN IRVINGTON HIGH SCHOOL DISTRICT
- 02/15/12 05:43 PM
Here is our newest Fremont, Ca. short sale in the Irvington High School attendance area. Every short sale comes with a story and this story involves a family tradegy. The sellers’ personal loss will allow a new owner to purchase an excellent home in the Irvington District. The Irvington High School attendance area of Fremont has become highly coveted by home buyers because of its affordable homes in an excellent school area. This 1958 home has 3 bedrooms and 1 bath in 1,000 sq. ft of living area. With its two car garage and 5,040 sq. ft. lot, this home awaits (3 comments)
Under the control of the FHA, underwater homeowners would be able to refinance into cheaper government loans. Borrowers with good credit who are current on their mortgages would most likely qualify. No appraisal would be needed. There would be no need to submit tax returns to verify income. To qualify: borrowers would have to be current on the mortgage, have a minimum credit score of 580 and must (5 comments)
reo: MARKET STATISTICS – MILLION DOLLAR DISTRESSED PROPERTIES – JAN. 2012
- 02/06/12 02:33 AM
Market statistics can show a variety of types of information. This market report is something that I created as a result of an article in today’s newspaper. The headline was “Crisis Reaches Upscale Homes”. The gist of the story was that homes across the San Francisco Bay Area that are in the higher price ranges are also reflecting the effects of the poor economy and continued problems in the real estate market. I ran some numbers on listings in Alameda and Contra Costa Counties in Fremont, Newark, Hayward, Union City, Pleasanton, Livermore, San Ramon and Danville to gain some insight into (1 comments)
reo: MARKET STATISTICS – FREMONT, CA. 1-29-12
- 01/31/12 04:53 AM
The market statistic for Fremont, Ca. for 1-12-12 show that inventory has moved up slightly from year-end 2011 but is still far lower than the inventory figures for the end of September, 2011.
It does not matter whether you are considering the purchase of a condo, townhouse or single family detached home. It does not matter whether you want a traditional sale, short sale, or REO – or if you would rather steer away from REOs and short sales – inventory is thin. What does that mean? The law of supply and demand has not been repealed. Demand (0 comments)
Short sales are a major part of our market in Fremont, Newark, Union City, Hayward and Castro Valley, Ca. In fact, no part of Alameda County is immune from the short sale epidemic. I think that is true of many areas across the U.S. to a greater or lesser degree. Under the current market conditions, a large percentage of the Medford Team’s listings are short sales. Every short sale seller has a story. None of them are triumphant. None of them are happy. Relief and resignation are the two most (1 comments)
I was on the MLS, looking at listings that may be of interest to my buyer. One of the potential properties had interesting notations in the agent-to-agent comments. That is the area that our MLS calls “Confidential Comments”. I am sure that most systems have something similar. It is where you post important information for other agents that is not available to the public and which does not show on the multitude of internet sites to which our listings are distributed. The comments for this listing, (4 comments)
reo: MARKET STATISTICS - FREMONT - NEWARK, CA. 10-27-11
- 10/27/11 03:10 PM
Market Statistics for Fremont and Newark, Ca. 10-27-11 Fremont and Newark real estate prices and statistics tend to track fairly closely. Fremont is a much larger city with a population that is approximately 6 times the population of Newark. I think that you can gather the size disparity from the number of listings in the respective cities posted below. Newark and Fremont real estate is also not comparable in all price ranges. Newark does not possess the above million dollar homes that can be found in Fremont. Prior to the real estate bubble bursting you could pay over a million dollars for a Newark home (1 comments)