Pleasanton Real Estate, Livermore, Dublin & Beyond!

Many Real Estate owners in Pleasanton, CA and everywhere in the country are facing difficult decisions regarding what to do with their mortgages.  Some of the more common reasons people are finding themselves in these stressful situations are:

 1.  They were talked into financing 100% of their mortgage due to the “thinking” that within a few years, the market value of their property would increase, thus they could then refinance because they would have instant equity.

 2.  The type of loan the borrower got to purchase or refinance the loan has met it’s short “intro rate” term and has now adjusted to a rate the borrower cannot afford.

 3.  Someone refinanced their home back when “No Doc Loans” were available for, let’s say for the sake of example, a 5-year term. Now the term is up, there is no longer the “No Doc” option and they are stuck without a way to remain in their home.

 And I’m sure the list goes on as to the reasons why many find themselves in this situation. The one thing to know is that You Are Not Alone!!

 What can you do if you find yourself wondering how to move forward?

First, (A) Act upon your situation. Don’t sit around hoping it will get better, burying your head in the sand. That won’t help. You can get through this; many people have gone through it successfully and are beginning the process right now.

Second (B) Believe…find a professional you believe you can trust. ASK for references from their past clients. Make your professional prove to you they know what they are doing. If you hire someone to guide you that doesn’t truly know how to get through a short sale, you’re going to be in deep trouble.

Third, (C) Cooperate. Cooperating with your Real Estate professional makes ALL the difference. How can we do our job if you are not providing the information the bank requires? The process is what it is. And what is that you might ask? It is tedious, time consuming, monotonous, wearisome, and the list goes on. Your professional knows exactly what to expect and how to get through it. They should set your expectation right up front as to the path to a successful end.  This is not a short process and you should expect it to take at least 4-months to a successful close. Once an offer is received and sent to the bank, this process alone can take up to 90-days to get an approval. Once the approval is completed, let your 30-day escrow begin!  That’s the less complicated part.

Pleasanton CA, as of January 4, 2010 there are only 116 TOTAL Properties on the market in Pleasanton according to the Multiple Listing Service. This includes Single Family Homes (SFR), Condo and Townhomes!  Just before the holidays we had 102 Single Family Homes alone!!  Here’s how the market is currently stacking up:

• 86-Single Family Homes priced from the low of $399,000 up to the high of $8,888,888
• 15-Condos priced from the low of $170,000 up to the high of $395,000
• 14-Town Homes from the low of $189,000 up to the high of $468,000

The shortage of homes available on the market continues to be the trend. We are beginning to see a trickling of Bank Owned (aka, REO, Foreclosed) properties come to the market; one being in the Shadow Cliff neighborhood of Pleasanton, located on Whitney Drive.

 The First Time Home Buyer Tax Credit is still in affect until April 2010 and FHA loans continue to be accessible allowing for down payment Requirements (as low as 3.5%).

If you’ve been on the fence about selling, this is most definitely a good time to make a move. The market is begging for more properties!

For specific questions or housing information, please feel free to contact me direclty.

As a resident of Shadow Cliff homes in Pleasanton and speaking as a Pleasanton Realtor, I can say our neighborhood is quite busy! There are currently 2 active homes on the market ranging size from 1,135 sf. up to 2,165 sf. and ranging in price from $509,000 to $699,950. In the last 35-days 3 homes in the neighborhood have gone pending. Two of these homes are priced at $559,000 and one at $569,000. Last year, all year long we didn’t have this kind of activity in the neighborhood.

As an original owner, I purchased my home in Shadow Cliff in 1988 and at the time had no children. Since then of course things have changed and have a daughter now in college and my son still at Amador High School. Many know Pleasanton is well known for its educational system and thus many people want to move here.  Shadow Cliff is a wonderful community and very friendly.

Ever wonder what makes one house stand out from another when viewing a home on the Internet? A survey by the National Association of Realtor says that over 80% of home buyers check the MLS before contacting a Realtor. With today’s very competitive market and internet savvy buyers shopping from home, one thing is certain; exposure of the property is key.

I recently provided an actual “Walk Through” video of a home for sale in San Ramon. Whether you live in the neighborhood or are many states away, with this type of marketing you’ll feel as though you’ve already been through the home before you even step foot on the property. Take a look and see what I mean.

If you’re interested in this kind of internet exposure for your property, please give me a call. Whether you live in Pleasanton, Livermore, Dublin, San Ramon or beyond, there is no additional charge for this service.  It is a part of my every day marketing plan for selling your home!

It is my advice to all my clients to get a home warranty plan.  It is customary in our country for the seller to pay the cost of the warranty. However, with all the short sale and REO properties being sold, often the ‘seller’ won’t pay the price for the home warranty. In this event I always encourage my clients to purchase the plan in the event something unexpected goes awry within the first 12-months of the purchase.

Recently my clients closed escrow on a home in Tracy, CA,  a bank owned property. The warranty plan was put in place. About 3 weeks after their move-in date, the water heater began to leak from the bottom of the unit. They called the home warranty company, the water heater was replaced (approx. $900 value) and the client only had to pay $50 out of pocket. I know they are glad to have the warranty in place and told me they may even renew it next year.

“Buying a listing” occurs when a seller adamantly believes their property to be worth more than what the market comparables will support and the interviewing agent “agrees” to the price in order not to lose the listing. Is this in the best interest of the seller; absolutely not!

What can happen with an overpriced listing?

• The seller begins chasing the market
• This positions the seller “behind the 8-ball”
• The listing becomes “stale” on the market
• Buyers won’t offer on these properties as they believe the seller is difficult, or they feel the may offend the seller.
• The agent can earn a bad reputation in the industry
• The seller usually ends up mad at the agent and after the listing period decides on a more professional approach
• Time and money are wasted

Seller beware…when interviewing agents to sell your home, be weary of agents that would rather tell you what you want to hear price-wise than trust in their own knowledge of the market.  If your chosen agent can’t negotiate with you, they can’t negotiate for you. Choose a professional with market knowledge!

With the news released yesterday about the new 90-day moratorium, home sellers are given another chance to get their home sold (in the event they choose not to modify). 

In the last several months, banks have been very lax about dealing in a productive way with short sale properties. With the second moratorium in the last 6 months, this may just be what banks need to realize they must deal with distressed home owners. While some home owners may wish to modify their current loans, this will give others who wish to sell the ability to do so.To successfully sell a short sale in this market, a home seller must find a real estate professional experienced in dealing with banks in these situation.  In my personal experience, the banks DO NOT like 3^rd party negotiators. Sellers beware when it comes to hiring a company that asks for money upfront.  This process can efficiently be handled with the right real estate professional.

What’s Important When Selling Your Home

 Pleasanton homes are very desired. As a homeowner, when thinking of selling in any area, there are a few very important things to keep in mind. Choosing the Realtor is one of the most important aspects of the transaction. If you don’t have a referral from a trusted source, there are a few things to keep in mind.

• It would be wise to interview at least 3 realtors. Ask lots questions and ask for past client contact information. Take the time to make a couple of calls to their past clients. You’ll probably learn all you need to know by having a short conversation.
• Secondly, Google the name of the agent. See what you might come up with. Good or bad, it’s useful information!
• What kind of marketing are you being promised? Get samples!
• What kind of internet exposure will you receive? This is SO important in today’s selling market. Will YOUR property be listed on at least 30 + of the most commonly used real estate portals? This is a must have!
• Does the agent provide a virtual tour?
• Does the agent provide a web commercial for YOUR specific property?

Once you’ve made the decision on the Realtor, the pricing is of the utmost importance. Your trusted professional will be able to provide you with comparables to help you understand the pricing strategy. Starting high and chasing the market down doesn’t work, so don’t let your agent overprice your home! That is the number one way to fail at selling.

These are just a few things to keep in mind when searching for the right professional to sell your home.