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.

At current, there are 7 “active” foreclosed properties available ranging from $334,900 to $2,100,000 located in the Ruby Hill community. The smallest of the 7-available properties was recently used as a business location near downtown.

Based on the pattern of the last 12-months, I suspect these properties will be pending within a matter of days. For homebuyers thinking of purchasing, the best advice to take heed…get pre approved by your lender of choice because in this market, once you fnd the property, acting quickly and wisely with the professional you feel most secure with is your best strategy.

• 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.

When deciding who you’d like to put your trust in, here are a few questions you can ask:

Are you a Realtor®? A new buyer may not even know the difference between a Realtor® and an Agent.  Realtors® adhere to a strict code of ethics and pay an annual fee to belong to their local & state association.  They are kept abreast of issues as they arise via CAR® (California Association of Realtors). Wouldn’t you like someone who adheres to a strict code of ethics and is continually learning about new challenges for buyers and sellers? Agents that do not belong to their local association are not allowed to call themselves Realtors®.  Did you know that?

Do you have any Designations?  Designations are earned by Realtors® that exceed the minimum standards required to pass the California real estate license exam. It is actually quite easy to cram for a test and pass, but it is another thing altogether to continually be studying and working the business from all angles.  It is both costly and time consuming for the Realtor® to earn Designations.  If you work with someone with Designations, you know they are committed to excellence.

 What kind of experience do you have?  It might help you to know how long your potential agent has been in the business. It is not necessarily a bad thing if they are new to the industry as long as they have a good mentor working alongside them.

In most cases, your gut instinct will not lead you wrong. My mom’s favorite phrase, “You Can’t Fool Mother Nature”, meaning that the feeling you get in your gut when something feels wrong will rarely lead you astray, is a valid barometer for you to check.   

When you feel you’ve found the right professional for you, PLEASE be loyal to them. It is so very frustrating in this business to work diligently with your buyers only to find that they are “two timing” you, or worse.  Working with multiple agents, and not committing to one is NOT in your best interest as a buyer.  Please remember that it is time, effort and expense on the part of the professional representing you to locate properties, drive you around town and spend numerous hours with you and then learn you are not loyal to them.  You may or may not be asked to sign a Buyer Representation Agreement. Either way, please be honest with the professional you choose and let them know if at any time you are dissatisfied.

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.

Yanagi Sushi and Grill is located on the corner of Dublin Blvd and Dougherty Road in Dublin at Tralee. Jay Chung, owner, is a WELL established, successful business owner. This is his 6th restaurant opening. He has previously created and opened sushi restaurants over the past several years in the Pismo Beach and Santa Maria area and has ventured north to continue his success here in the Bay Area!

The restaurant in Dublin is a Tappan Style (sit at the grill and watch your personal chef create a delicious meal) and has a full sushi bar. The pre-Grand Opening was last night for invited guest and a “trial” run for the public opening tonight! The staff is enthusiastic and eager to serve a fantastic meal. Owner and Master Chef, Jay Chung, was on hand over seeing all the activities of the evening.

I encourage you to show your support to this new-to-the-Bay-Area business and stop by for a tasty meal.

The owner of Yogafina that he is looking for applicants to drop off their resume at the store location.  He prefers to receive applications in hand rather than via email.  The store is located at 350-E Main Street, Pleasanton.

Get your taste buds ready! Yogafina has arrived and will open for business this Friday, August 14!

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!

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.

 ATT U-verse is new to my neighborhood and only one other resident in Shadow Cliff Homes had subscribed to the new service at the time I was approached by the door-to-door salesman. Of course I was apprehensive, but the package sounded really good.  Even though there were more features, more channels and supposed higher speed internet I was concerned I’d turn out to be a disappointed.

I signed up for U-verse TV, Phone & Internet.  I was scheduled for an all day installation. The installer showed up on time, spent most of the day at my home, and was efficient and friendly. Best of all, the service works perfectly! I am able to record on the main television and just like the commercial says, watch the recordings on any TV in the house. I’m very happy with the change!