| |
reo: Alameda real estate --- what's happening since January 1, 2009 - 04/14/09 02:23 AM
Having been in multiple offers and counter offers situations lately for residential property listings, it is evident that something is happening. Buyers are stirring!
What's happening in Alameda?
SOLD
Homes sold since January 1, 2009 to date: 70 Highest price sold during this time: $1,995,00 Lowest price sold: $150,000 Average sold price according to the comparative market analysis: $553,973 Average days on market: 60 PENDING TO DATE:
Pending sales: 68 Highest list price: $1,298,000 Lowest list price: $168,000 Average list price: $556,632 Average days on market: 65 ACTIVE LISTINGS TO DATE:
Homes actively offered for sale: 127 Highest list price: $1,728,000 … (2 comments)
|
reo: Listed at $499K, but they won't take anything less than $594K. WHAT? - 12/29/08 10:26 PM
There is a listing in Alameda CA that has got us shaking our heads.
It's a short sale listing for a ranch style home, 3 bedrooms/2 baths, and steps to the beach. It's listed at $499K. However, the confidential remarks says that the loan "negotiator countered at$594K and needs an offer ASAP."
The listing agent who is from out of the area, was asked why she didn't simply list the price at what the lender wants to cut to the chase. She responded that they do this all the time in Hayward to stimulate interest and get people to show it.
Then she off-handedly says, "This is … (12 comments)
|
reo: Are there REOs and Short Sales in the island of Alameda, CA - 11/14/08 02:19 AM
First, let's put things in perspective. The small island of Alameda has a population of approximately 72,000 people. Yes, it's that small.
Two months ago, I reported that out of the active homes for sale in Alameda, 14% were bank-owned (REO) and short sales.
FOR SALE As of this writing, there are 146 homes offered for sale. 32 are either REOs or short sales, or 22% compared to 14% in September.
16 are $500K and above, or 11% of total homes for sale 16 are below $500K SHORT SALES
18 are short sales, or 12% of total homes for sale 2 … (4 comments)
|
reo: REO Agents: PLEASE give us buyers' agents some respect! (Rant) - 10/28/08 12:40 AM
The number of foreclosures is increasing. And so are the REO agents. Concurrently, the lack of professionalism among some REO agents is galling.
Yesterday, Sunday, I called an REO agent to let him know I'm submitting an offer. Today, I sent the offer, again checking to make sure the property was still available (yes it was). I saw that my email was received. But lo and behold, later this afternoon, the MLS posting was changed to "pending" as of yesterday!?
BUSY BUYER AGENT I have written so many offers for many of my clients who are not giving up on buying properties to … (46 comments)
|
reo: REOs and Short Sales in Alameda --- the numbers are increasing - 09/22/08 11:59 AM
In my little island of Alameda, we've always felt more secure in the thought that we're innured from the economic upheavals known as foreclosures and short sales.
There is a certain "pride" in our beautiful island. We're ideally situated between metropolitan San Francisco and Oakland, we have year-round fabulous climate, we have fabulous events, and we have fabulous architectural gems.
But last week, when I posted current short sales and REO activity in Alameda, I was surprised to see the numbers.
Today, I looked again. Out of 157 active residential listings, there are now 25 REOS and foreclosures, 11 of which are … (2 comments)
|
reo: Short sale agents won't be hired as REO agents for same property when it forecloses - 09/12/08 01:00 PM
Just learned something today --- this may not be the case every time....but it's interesting to know.
One of my listings is a property which I tried to sell as a short sale. Problem is, the lender is Downey Savings, and they won't approve ANY short sale.
I followed up today to see if this policy has changed. Nope. No short sales. Since this is going to be foreclosed, I asked if I can list it when it becomes an REO. I was referred to their REO Department. The lady who answered said they have a policy NOT to use the … (9 comments)
|
reo: Short sales and foreclosures. In Alameda CA? Alas, it's true! - 09/11/08 06:15 PM
SHORT SALES AND REOS FOR SALE
As of this writing, there are 166 homes for sale in Alameda. 14 are short sales, and 9 are bank-owned --- or 14% of total homes actively for sale.
We just didn't think it would be this high. At first, it was just 2% of total...then it slowly inched up. A few month ago, it was at 10%. But 14%?
Among the REOs are 2 condos, 1 townhouse, and 6 detached single family homes. One of these is a home in the new development of Bayport, 4 bedrooms/3.5 baths, 3423 sq ft, built in 2005, … (0 comments)
|
reo: Oh joy! Oh no! A day in the life of a realtor. - 09/04/08 09:44 PM
Mixed bag of emotions --- that's par for the course.
OH, JOY!
Today, I received a call from a prospective seller who told me I got the job of their realtor, beating out two other realtors in bigger local offices. I am thrilled. This is a very good listing in a desirable part of the island. This is a home with very good bones...needs a lot of work, but it is on a great street. A visionary will rejuvenate this home in no time. It should generate a lot of interest.
Keep your eye on this home....it's coming soon!
OH, NO!
… (18 comments)
|
reo: Do's and Don'ts when writing an REO offer - 08/28/08 07:15 PM
As many times as I've written offers on REOs, I enountered an REO agent who included with her disclosures a guide on writing an REO offer. She requested that the agent initial and return the guide to her so that everyone is clear on what to expect.
After reading her guidelines, I put together a Bullet-point summary that I am sharing with my buyers as further testimony of the importance of writing the BEST and HIGHEST offer. A lot of the do's and don't can apply to writing offers on REO, short sales, and regular sales.
REMEMBER
Seller/Lender calls all the shots Offer … (13 comments)
|
reo: To the REO Agents: What's with the attitude? - 08/25/08 06:11 PM
Venting....can't believe the attitude of some of the REO agents who must be so drunk with power and so busy with their listings that they have forgotten the simple rules of courtesy and professionalism.
My clients and I went to see an REO house, but when I opened the lockbox, there was no key. So on Tuesday and Wednesday. I called the listing agent named Jerry and left messages about the absence of a key. I even followed up with two emails, asking when can we see it.
On Thursday, I reached his partner Val. I told him I haven't had a call back … (9 comments)
|
reo: To Buyers: please listen to your realtors who guide you to make informed decisions - 08/05/08 01:56 PM
To all buyers out there....
Please listen to your realtors who make a living pricing, selling, researching values of real estate property. We do have your interests at heart. We're not in it just to sell you something. We want you to be happy because we are counting on you to tell your friends, your associates to look us up when it comes time for them to buy or sell real estate, too. That's what enables us to grow our business --- referrals from satisfied clients.
So when we tell you that your offer may be too low, when we tell … (5 comments)
|
reo: San Francisco Chronicle Headline: Foreclosures Hit A 20-Year High! - 07/23/08 03:16 PM
We know the foreclosure activity picked up. We also know that we have brisk activity when writing offers, many times, at a multiple-offer situation.
So it wasn't a shock to see this headline that talked about repossessions in the Bay area soaring. Read the story
In the Bay Area, mortgage companies recorded 18,516 notices of default, up more than 140 percent from a year ago. Foreclosures rose nearly 315 percent to 9,206. Notices of default, the first step in foreclosure proceedings, rose nearly 125 percent from a year ago during the second quarter, and trustee deeds recorded, which reflect the actual … (6 comments)
|
reo: REO agents --- pls include precautionary info in your listings - 07/08/08 05:05 PM
Okay, I have to vent.
Since the number of REO listings are increasing, they are an integral part of my buyers' house hunting expedition. But Jiminy Cricket! It certainly hasn't been easy. Although we don't expect the properties to be squeaky clean, we should at least be able to see it!
Here's my beef. These are REO listings, and the instructions were simply to go and show.
BROKEN LOCKS I tried --- four times! --- to show an REO home. The first time, the lock was broken. I reported it to the listing agent who said she will have a locksmith take … (7 comments)
|
reo: REOs and vacant houses: Squatters' favorite target - 07/07/08 01:52 AM
Although not all REOs/bank-owned listings are trashed, that isn't the only challenge we face when showing this type of property.
REO Last week, I was going to show an REO to my clients. I got there early to scout the area, and saw that the front door of the subject property was open. And from the open windows, I noticed the backs of sofas and TVs. So I called the listing agent to verify that the property was vacant as it was noted on the MLS. He said that it was --- but as I was talking with him, I noticed … (7 comments)
|
reo: Buyer's market doesn't mean low ball offer - 06/18/08 12:00 PM
Time and time again, some folks think that buying a foreclosure would be a breeze, and that they can submit a lowball offer. They must have seen, read, heard that they can get foreclosures for 30-50% less than list price. Remember, REO or bank owned listings are at, or nearly at the bottom price that the bank would approve.
I have submitted offers on behalf of several clients who, regardless of what the list price is, automatically come up with prices significantly less than list price.
Before writing the offers, I always give them a brief history of the property, how much … (19 comments)
|
reo: 24% of active listings in our local MLS are short sales - 04/25/08 01:37 PM
As of today, in our local MLS. there are 12,041 active listings of which 2636 are REO (bank-owned) or 22%, and 2852 are short sales or 24%.
Siince January 1, 2008, 1151 REOs closed, compared to 102 short sales.
Because of the painfully slow process of getting an acceptance, rejection or counteroffer to a short sale offer, I am more inclined to look for REOs for my clients who are interested in such properties. However, seeing that there are more properties that are on the short sale list, I don't want them to miss out on these either. As long as we set … (2 comments)
|
|
|
|
|
|
Pacita Dimacali - ePRO, SRES, CDPE, MBA Alain Pinel in Alameda County CA
Oakland,
CA
More about me…
Alain Pinel
Address: 6211 La Salle Ave, Oakland, CA, 94611
Cell Phone: (510) 205-2992
Email Me
 Listings
Links
Archives
|
;)
;)
;)
