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Agents: please don't chew out buyers if they decide to use someone else - 05/30/08 05:10 PM
My mouth dropped in disbelief when I heard about this. I had shown my listing to buyers. Upon probing on my part, I gathered that they were interested in waterfront properties. So I arranged to show them other properties. I had originally asked them if they had a realtor, and they said they are just looking. After several showings, they decided to go for a condo that wasn't listed yet but that I knew about. As we were writing the offer, another agent saw them in my office. Apparently, he also showed them his and another agent's listings. My client was (2 comments)
Reality check: 2% of home in the country are going into foreclosure. Should we panic? - 05/30/08 04:37 PM
Doom and gloom news are always sensationalized. So from time to time, it helps to have a reality check. Kudos to First American Title Company who shares with us the Market Watch newsletter by a dynamo of a woman, Carole Rodoni. Carole is a sought-after speaker (and the much-revered ray of hope for the battered northern California market). We share this info with our clients, and everyone appreciates it! She points out the following: There may be close to 2 million homes going into foreclosure, but there are 110 million homes in this county. And 46% of those homes are owned (0 comments)
Will lender tack on commissions paid, to the 1099 issued for a short sale of investment property - 05/20/08 11:59 AM
Here's the situation. Tenants are living in investment property that has just received the Notice of Default, and is nearing a Trustee Sale. They want to buy the house and engaged a REALTOR to write up the offer. The Seller is adamant that he doesn't want to use a REALTOR because he says the Lender will tack on the sales commission paid to the 1099 that will be issued after the sale, which, if that is true, will increase his tax obligation. This is going to be a short sale, but because it is not the seller's primary property, this will (2 comments)
Chance comment at a fair led to writing an offer on property not yet listed - 05/15/08 05:22 PM
In Alameda, we have street fairs. During one of these fairs where I was a volunteer wine-pourer at a wine booth, I struck up a conversation with a realtor from another company, who was hanging around the next booth where his wife was also a volunteer. The usual questions...."How's business?" "What's the latest?" "Do you have any new listings coming up?" He said he just got a call from a probate attorney who wanted him to list a condo for a client. I perked up because I have clients who want to buy a beach front/bay view condo. Turns out this condo is (3 comments)
Bank won't take back up offers on REO. Is this typical? - 05/11/08 04:26 AM
Every day, there seems to be something new to learn. And in this sea of short sales, trustee sale and REOS, there are so many new or different rules, practices. There is an REO property that was on the market only two days before it was posted as pending. An agent in the same office as the listing agent submitted an offer the day it was activated on the MLS; the bank countered the next day, and poof! It was accepted on the third day. Unfortunately, my client and I couldn't see it until the fourth day on market. I called the listing (8 comments)
Twice today: Agents tried to discourage me from submitting offer because there are already offers on the table - 05/10/08 01:10 AM
I'm incensed! Twice today, I was nearly rebuffed by two agents whom I called when I tried to submit my offers. The first one was an REO. She said she already received an offer last night, and another one this morning --- as if two was enough. She tried to discourage me from submitting an offer since she thought the ones she had were good enough. I insisted that she present my offer since there isn't an accepted offer at this time. To make sure she submitted my offer, I asked that the bank acknowledge receipt. The second was a listing already (13 comments)
How much do you know about the Nehemiah Program (down payment for Buyers) - 05/08/08 04:17 PM
Recently received an offer from buyer who wants to fund purchase via FHA, and the Nehemiah Program. In case you have not yet encountered the provisions of this program, take a look at this website http://www.getdownpayment.com/agents/ Essentially, a "gift" of up to 6% will be applied towards the down payment. But note that this "gift" is actually paid for as part of the processing fee by the Seller. So if buyer is making offer using this program, you may want to factor in that "gift" into the accepted offer price to be clear about what the sellers' sales proceeds really will be after (4 comments)
Antiques Faire by the Bay --- first Sunday of every month. Go today! 9:00 am - 3:00 pm - 05/04/08 01:48 PM
Folks who haven't yet discovered Alameda may want to come to one of the most fun events in the island -- the monthly Antiques Faire by the Bay http://www.antiquesbythebay.net/. It's billed as Northern California's largest antiques and collectibles show with over 800 dealers. According to theri website, everything sold at the show must be at least 20 years old, and no reproductions are allowed. Whether you're a serious shopper or just want to hang out, this is a good place to be, especially with the City of San Francisco and the Bay as the backdrop, and with the wonderful climate. It's also (1 comments)
New restaurants bring the flavors of Cuba, Italy and Vietnam to Alameda - 05/04/08 01:30 PM
Alameda, in spite of being a small island, has its share of restaurants that tickle the palate. Whenever we want to go out and get something to eat, we fight the urge to go off the island because there are so many to choose from. When I meet new clients who don't know much about Alameda, I take them to different restaurants so that they will see and taste for themselves what Alameda has to offer. Here are the three newest restaurants in town. Life is good! ITALIAN - Acquacotta The newest addition is AcquaCotta http://www.acquacotta.net/ on Webster Street. They don't take reservations, so (1 comments)
GOOD NEWS! Alameda sales are picking up! - 05/04/08 01:01 PM
It's happening! Properties are selling. As a matter of fact, compared to adjoining cities, we're beginning to see brisk movement. HOMES IN CONTRACTIn March, we saw 70 properties go into contract --- and that's the second highest month in the previous two years (June 2006 was ahead by 74). That means that 24 percent of inventory sold that month.Compare that to Berkeley where 54 out of 206 properties went pending, or 18% of inventory, In Oakland, 236 out of 3174 went pending, or 7 % of inventory.SHORT SALES AND FORECLOSURESFrom another perspective, we are also seeing our share of short sales (0 comments)
Fostering rescue dogs is a way to give back and to help us overcome our grief - 05/04/08 03:12 AM
Our sweet Goldador (Half Golden Retriver, half Labrador) was being trained for the Canine Companions for Independence, but was released before she completed her training because it appeared she may develop hips dysplasia. We were lucky enough to have been selected to be her permanent parents. We were so happy to have Findell for nearly 13 years. But then she got sick. We did our best for her and took her to specialists. But when her quality of life degraded to the point that she had to be hooked up to oxygen and receive her sustenance through IVs, it was evident that it (7 comments)
Photo stitching and making visual tours on my own --- sometimes an absolute necessity - 05/03/08 02:04 PM
On my listings, I've done it both ways: hired a photographer, and taken my own pictures. Although I love having professional photos taken, I don't like it when my choices are limited. The photographers I've hired give me a CD or a link where they select about a dozen pictures that I can use. However, I also want and include a visual tour of my listings. And this will require another special photographer. Many times, I've had to do my own photos. Time consuming, yes. Requires a skill set, yes. Rewarding, yes (if the results are good). As I take more photos, I (1 comments)
FINALLY, SOME GOOD NEWS! Sales in City of Alameda are picking up....really! - 05/02/08 06:53 PM
It's happening! Properties are selling. As a matter of fact, compared to adjoining cities, we're beginning to see brisk movement. HOMES IN CONTRACTIn March, we saw 70 properties go into contract --- and that's the second highest month in the previous two years (June 2006 was ahead by 74). That means that 24 percent of inventory sold that month.Compare that to Berkeley where 54 out of 206 properties went pending, or 18% of inventory, In Oakland, 236 out of 3174 went pending, or 7 % of inventory.SHORT SALES AND FORECLOSURESFrom another perspective, we are also seeing our share of short sales (5 comments)
GRRRR....While waiting for response for offer on short sale, the trustee sale was announced! - 05/02/08 12:54 AM
We submitted an all cash offer on a short sale listing on March 31. Although our offer was below the list price, we priced it according to a recent sale of a bank-owned property in the neighborhood. The seller accepted on April 3. Change the status on the MLS! In our MLS, once there is a ratified contract between buyer and seller, even on a short sale, within 24 hours, the status should be changed to "pending" It took another week before the agent changed the status of the listing. Follow up, follow up, follow up! Every so many days, I'd check with the (2 comments)
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.