Who is buying the bulk of the REO (Bank Owned) properties in your neighborhood? It's very frustrating for the 1st Time home buyers when the bulk of the homes they can qualify for are going to the 'all cash' buyers...which are typically investors. I know from experience and numerous offers that the banks don't care about selling their properties for the highest possible, fair market value. They opt for the less-risk offer which is all cash. I get it...I know they want the properties off their books...but it doesn't mean I have to like it! I just wish one of the bank's incentives were based on revenue rather than just number of units sold. I say that based on my experience and opinion.
One of the areas with the bulk of the REO homes for sale is located in Antioch, CA. The following chart shows the sales from Aug. 1 through Sept. 20, 2009. It covers detached, single family homes only. There were 232 homes that closed escrow during that time period. The "Cash" offers represent 28% of all sales and 75% of the REO (Bank Owned) sales.
How Sold
Total % of All Sold
Avg. Selling Price
Days on Market
Sold
$/Sq. Ft.
% REO
% Short Sale
% Regular
Cash
28%
$181,469
22
$101
75%
8%
17%
Conventional
43%
$224,014
29
$111
63%
9%
28%
FHA
26%
$233,758
43
$106
60%
23%
17%
Other
2%
$164,000
16
$99
80%
0%
20%
VA
1%
$283,333
59
$127
0%
33%
67%
So, who is buying the bulk of the REO's in your neighborhood...cash investors or 1st Time home buyers? (To me, I don't put 1st Time home buyers in the 'all cash' category!)
(The above figures were taken from the Contra Costa Assoc. of Realtor's MLS effective Sept. 21, 2009)
If moving to Walnut Creek or the East Bay of California, give me a call, search the MLS or view My Website for more information.
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I live, work and play in Walnut Creek, CA! For Real Estate and community information about this beautiful city as well as the surrounding areas, please visit my website at www.TerriAdamsScott.com
Walnut Green 3rd Annual Community Garage Sale was a BIG and successful event this year! This 228 home development is located in the Northgate community of Walnut Creek, CA.
The early morning hours of thunder, lightning and rain didn't keep these homeowners from enjoying their annual event! They got creative with tarps and tents to cover their treasures. There were 28 families that participated this year and the event was highly publicized. I don't know who had more fun...me or the homeowners! The video is a highlight of the participating families sharing their goods and success stories.
To learn more about this community or find homes available for sale, please give me a call at (925) 765-4339. To search the MLS or learn more about Walnut Creek Real Estate, please visit my website.
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I live, work and play in Walnut Creek, CA! For Real Estate and community information about this beautiful city as well as the surrounding areas, please visit my website at www.TerriAdamsScott.com
This year's community garage sale has over 20 families participating in this event. This development is located in the Northgate area of Walnut Creek, CA and has 228 homes all located within 24 cul-de-sacs.
The community rallies together for this event and offers a wide range of items to be sold. The kids get involved by setting up lemonade and bakery stands.
For more information about this event or available homes in this community, please don't hesitate to give me a call.
To search the MLS or learn more about Walnut Creek and East Bay Homes, visit my website.
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I live, work and play in Walnut Creek, CA! For Real Estate and community information about this beautiful city as well as the surrounding areas, please visit my website at www.TerriAdamsScott.com
I am pleased to share our Quarterly Market Report for the Second Quarter of 2009 for Contra Costa County. If you would like to learn about your particular neighborhood, or how this data can help you in buying or selling a home, please contact me.
For more information or to search the MLS for homes in the Walnut Creek and surrounding areas, please visit my website: http://www.terriadams-scott.com
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I live, work and play in Walnut Creek, CA! For Real Estate and community information about this beautiful city as well as the surrounding areas, please visit my website at www.TerriAdamsScott.com
This new 'traditional' listing came up (no REO/Short Sale)...beautifully updated throughout...in the neighborhood my buyer wants...perfect size and amenities...and best of all, priced competitively and in their price range! I hurriedly called the agent...WooHoo...a live person answers the phone! I start asking my typical questions and find out there's 3 offers on it already. Okay... when are you going to present/review the offers? I hear this long, hesitant sigh as the agent proceeds to tell me the seller's demands...or don't bother putting an offer in:
1. Wants a $5,000 deposit
2. No FHA loans
3. ALL contingencies removed in 10 days
4. If appraisal comes in lower than your offer, there will be NO re-negotiation so plan to come up with the difference in cash.
UH?...Okayyyyy...the first two demands are no problem. It also wouldn't be a problem to remove inspection contingencies within 10 days...but removing the loan and appraisal that quickly in today's market is not that realistic for non-cash offers. In regards to demand #4...that's really stretching it! If I KNEW the appraisal could come in around $5000 below, we could probably deal with that. BUT...we all know how crazy this appraisal system is right now! It could come in...for example...$20,000 below our offer...and we'd be expected to pay the difference or risk our deposit (plus inspection costs) if we don't perform? I do have a handle on the values in the area, but gambling that the chosen appraiser shares that expertise...there lies the problem...grrrrr!
So if you feel hurt and can't make the contract work...they'll take cash...which is just as good as money! UH.....GRRRRR!!!
I live, work and play in Walnut Creek, CA! For Real Estate and community information about this beautiful city as well as the surrounding areas, please visit my website at www.TerriAdamsScott.com
I love my new iPhone 3Gs and all the cool apps that are available! I don't go 'app crazy', but when I find one that strikes my fancy, I just gotta have it!
I came across this app called "iCam" by SKJM, LLC. You can stream up to four webcam video and audio feeds from anywhere in the world to your iPhone or iPod touch over WiFi, 3G and EDGE.
This is not a free app, but was well worth the $4.99 for me. There are multiple reasons why someone may want a surveillance system and mine was primarily out of curiosity to see what my dog is doing while I'm away from home.
There are limited features to this compared to a full surveillance system. It is a one-way system in which you can see and hear what your web cam is picking up. You cannot have a 2-way conversation back to it. It also does not record. So, if you want to spy peek in on the animals, kids or whoever while you're away, this is a handy app to have on your iPhone.
If it sounds interesting, I recommend you read the reviews/forums for yourself and you be the judge. Also, the software you download onto your computer is in beta form. I have used this app for 3 days and have enjoyed it! I'm using the built-in camera on my MacBook Pro.
So...the next time you're out viewing property, BEWARE...the sellers just may be spying on you! With all this technology, it's easier than ever!
Has anyone tried this app? Would love to hear your opinion. If you have another app you really like, please share it with us!
I live, work and play in Walnut Creek, CA! For Real Estate and community information about this beautiful city as well as the surrounding areas, please visit my website at www.TerriAdamsScott.com
I have had a week now to play around with my new iPhone 3Gs. There are way too many features to mention so this blog is strictly limited to the video feature...which was one of the main reasons I purchased it. I was an original iPhone user so the set-up (iTunes) and transition went fairly smooth.
I have been a video enthusiast for awhile and like to do my own property, video tours. My purpose to upgrade to the 3Gs was to have an 'all-in-one' device so I wouldn't have to lug around a bunch of equipment. I thought for awhile on buying one of the HD flip phones, but held off waiting to see what this iPhone could do. I'm pleased to report that I'm VERY happy with it! Now it's not something the professional videographers would use to shoot home tours with, but I think it does a very good job for intermediate users like myself.
Pros:
Good quality and much crisper on close-ups versus shooting at a range
All-in-One device so less equipment to haul around
Allows for editing...but only at the beginning and ending of the clip. If plan to produce a video with multiple clips, you'll need to transfer the movie files to your computer and editing program. You could email them to yourself, but it compresses the video before sending if you do that.
Longer recording time than the 40 second limit my Olympus camera provided me
Auto focus (tap the screen where you want the camera to auto focus on. Does a good job if you have contrasting lights)
Shoots well in low light situations (the video below was shot indoors at a bar)
Audio works well as long as you're close to the camera
Publishing: Easy to send to your YouTube account or email...all from the camera feature on the phone.
Cons:
No pause and resume button. You can't put multiple clips together unless you use outside editing software.
No tripod slot so you need something to brace the phone against or have steady hands to avoid the 'Blair Witch' effect.
Transferring clips to the computer: No directions so had to figure this one out on my own. The video files (mov) are recognized as photos since it's within the camera feature of the phone. For Windows, I had to go to 'explorer', open the correct drive then drag the video files to my desktop. In Mac, I had to go to iPhoto to find them (it did not recognize a separate USB drive on my desktop). From iPhoto, I could then drag and drop the video files to where I wanted them.
Battery: Shooting video does take a toll on the battery level. Good news is that once you plug the phone in to charge it, it charges quickly.
Audio: This is asking too much, but would be nice to have a microphone jack for recording.
Summary: I am very thrilled with my new iPhone 3Gs and the video feature on it! It's great to have the feature built-in to the phone so I have the capability to capture moments as they happen. I don't always have my camcorder on me, but I always have my phone!
Sorry, I never purchased a Flip so can't compare the quality between the two. Of course now, I don't need to buy one!
The following video was all shot with my iPhone video and edited on my computer. Since I added music, I'm sorry you don't get to hear the audio feature of the actual video clips.
So that's my review of the video feature in the new iPhone. Any other experiences out there? Please share!
I live, work and play in Walnut Creek, CA! For Real Estate and community information about this beautiful city as well as the surrounding areas, please visit my website at www.TerriAdamsScott.com
Walnut Creek, CA has some of the finest restaurants and night clubs in the East Bay. We all hear of the big chain places, but you seldom hear about the great places that only the locals know about! Mr. Lucky's is located in downtown Walnut Creek at 1527 Locust St. During the weekday, they cater to the business crowd and serve great lunches...specials everyday! At night, it is the hot spot for the younger crowd. They also serve breakfast on Saturday and Sundays.
It seems like every big city has its own "Cheers" where the locals hang out and everyone knows your name! Well, this is Walnut Creek's 'Cheers'! If you're ever in beautiful downtown, you'll have to check them out!
Moving to Walnut Creek? Give me a call and/or visit my website. Terri Adams-Scott REALTOR® Prudential California Realty DRE#01397740
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I live, work and play in Walnut Creek, CA! For Real Estate and community information about this beautiful city as well as the surrounding areas, please visit my website at www.TerriAdamsScott.com
Every Tuesday in our area, we have our local "Broker Tour". Many have asked what it is and many have said 'take me along with you'! Broker Tour is an Open House of new listings within our local association of Realtors. It is geared toward our fellow Realtors so we have a chance to preview these new listings. We all have busy schedules so it's nice to have this one day to have these Open Homes available for us to see. I hope this explains my 'tweets' and 'status' comments when I say 'Heading out to Broker Open'. For those of you who asked to tag along, here's a little highlight video of 3 homes that I toured.
If you would like more information about these homes or others in the Walnut Creek area, please give me a call. These homes are listed for sale in the Contra Costa MLS and listed by various Agencies. The permission of the listing Agent was granted.
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I live, work and play in Walnut Creek, CA! For Real Estate and community information about this beautiful city as well as the surrounding areas, please visit my website at www.TerriAdamsScott.com
Heather Farm Community and Recreational Park is situated on 102 acres and located in Walnut Creek, CA. It's a gorgeous park with views of Mt. Diablo in the background. The park has a Swim Center, tennis, picnic areas, community center, equestrian center, skate park, off-leash dog park, bike and walking paths, six athletic fields, tot lots, sand volleyball courts, fishing pond, restrooms and connects to the Iron Horse Trail. It's also the home of the annual Walnut Festival carnival.
The Gardens at Heather Farm buttons up to Heather Farm Park. Established in 1968, the gardens are a living museum, a wildlife habitat, an outdoor classroom and a beautiful place for all to enjoy. For more information about Walnut Creek and all it has to offer, visit the city's website at www.walnut-creek.org
Enjoy the video!
Terri Adams-Scott, REALTOR®, Prudential California Realty
I live, work and play in Walnut Creek, CA! For Real Estate and community information about this beautiful city as well as the surrounding areas, please visit my website at www.TerriAdamsScott.com
Sharing the local Walnut Creek and surrounding areas Real Estate market to buyers and sellers. Video blogging new homes on the market and other Real Estate related issues.
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.