About Alameda's Bay Farm Island

Sale of a Home Held in A Trust

A sale of a home held in a trust is very common. As an estate planning technique, many people have put their assets, including their homes, in a trust. The trust then becomes the owner of the home. This is usually done to protect the estate from a probate, a costly and public court proceeding.

A sale of a home held in a trust may have certain requirements. Even though trusts are not controlled by the courts there are rules that must be complied with. The attorney who will be doing the trust administration will advise the family what must be done.

A sale of a home held in a trust will necessitate that an agent request a property profile which will show that the property is, indeed, held in a trust.

If the owner of the home has passed away, the successor trustee must be identified because that person will be the person who may sell the property. The trust will identify the name of the successor trustee. That person may be the remaining Trustor spouse or an individual appointed by the original Trustors.

According to Placer Title Company, a title company may require certain trust documents to be provided to them:

1. The title company may ask to see the trust to verify that the person who is acting as trustee is actually named in the trust.
2. The title company may require a Certification of Trust signed by the successor trustee(s) and the attorney for the trust estate.
3. The title company may require a death certificate if the original Trustor(s) is/are deceased.
4. If the trustee is incapacitated, the trust will govern the succession of trustee(s).
5. If a trustee resigns, the title company may require an acknowledgment of resignation.
6. A Tax ID number may be needed if the original Trustor(s) is/are deceased.
7. Disbursement of funds at close of escrow must be issued in the name of the trustee of the trust, so a trust account must be opened to receive funds.
8. Questions may arise if a power of attorney may be used in the sale of trust property. According to Placer Title Company, "Unless the trust specifically provides that the trustee can appoint an attorney in fact, a power of attorney cannot be used."

This information applies to Alameda County, California. Other areas may have entirely different rules. The Successor Trustee should consult with an attorney in the area in which the property is being sold. I am not an attorney and do not give legal advice.

Sale of a Home Held in a Trust requires an experienced Realtors. If you have any questions about selling a home which is in a trust, call me at 510-504-5612

ALAMEDA MARKET REPORT BAY FARM TOWNHOUSES

ALAMEDA MARKET REPORT BAY FARM TOWNHOUSES Construction on the townhouses on Bay Farm Island were begun in 1969. There were three distinct developments.

Casitas townhouse were the first built circa 1969. Casitas units have seven models. Model A is a two bedroom one bath single level unit approximately 964 square feet. The largest model is Model G which is a four bedroom 2.5 bath unit with approximately 1628 square feet of living space.

Islandia townhouses were completed circa 1971. There are seven models of Islandia townhouses range in size from the smallest Model A to the largest Model M. Model A is a two bedroom two bath unit approximately 1250 square feet. Model G-4 is a four bedroom 2.5 bath unit approximately 1680 square feet.

The Garden Isle development was completed circa 1973. Garden Isle has 11 models ranging from Model A a two bedroom, 2 bath single story unit approximately 1250 square feet to Model M, which is a four bedroom 2.5 bath 2 story unit with approximately 2100 square feet. Models K and L are detached single level patio homes. Model M is a detached two level patio home.

3 AND 4 BEDROOM TOWNHOUSES

2 BEDROOM ONE LEVEL END UNIT TOWNHOUSE

The current August 2011 Monthly Supply of Inventory is down by 22% from August 2010. The monthly supply of inventory indicates the number of months it may take for the current inventory of real estate to be depleted at the present rate of sales. The absorption rate, or monthly supply of inventory according to the graph shown is 3.5 months. This figure indicated that at this time a seller's market exists in the Bay Farm townhouses. It could also mean that sellers are delaying putting their houses on the market until after the holidays.

A declining figure indicates the inventory of homes for sale is decreasing since more homes are being sold than are coming on the market. A rising absorption rate indicates that there are more homes coming on the market than there are buyers willing to buy at the market price.

• Normal Market” exist when the Absorption Rate is 5-7 months.
• “Sellers Market” exist when the Absorption Rate is lower. (1-4 month)
• “Buyers Market” exist when the Absorption Rate is higher. (7+ months)

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Alameda is a wonderful island community. If you would like more information about Alameda please call or text me at 510-504-5612

Contact me for a free Market Report on Alameda real estate

ALAMEDA PARKS - GODFREY PARK

ALAMEDA PARKS - GODFREY PARK. Godfrey Park is located in one of the oldest neighborhood on Bay Farm Island. Bay Farm Island was settled in the 1850 and for many years the land was used for agricultural purposes. Most of Bay Farm Island was marsh land, but after the 1920s the land near Bay Farm was filled to accommodate the Oakland Airport and the fairway of the Alameda Golf Course. After the golf course was built houses were developed on the old farm lands. In the 1920 the entire population of Bay Farm Island was 300 people. During that time of rapid development a proposal to create a park became an important thing for the local residents. The first ideas for the park were as a public beach and picnic grounds covering 25 acres.

GODFREY PARK RECREATION CENTER

In the 1920s the residents of Bay Farm Island were very vocal in their desire for a public park. In 1945 the Council finally acquired 4 acre parcel of reclaimed marsh land near the homes on Beach Road. The park was opened in 1945 and was named in honor of the former Mayor Milton C. Godfrey. At the time of it's opening the population of Bay Farm Island was 500 people.

FIELD AT GODFREY PARK

In the 60's Godfrey Park was renovated with a new baseball field, blacktop with basketball courts, and a paved picnic area near the new recreation center.

Alameda Parks - Godfrey is just one of a number of fine parks scattered throughout Alameda. You may want to visit my blogs about Lincoln Park, Jackson Park, McKinley Park, Washington Park, Franklin Park, Longfellow Park and Krusi Park.

ALAMEDA PARKS - GODFREY PARK

ALAMEDA PARKS - GODFREY PARK Godfrey Park is located in one of the oldest neighborhood on Bay Farm Island. It was opened in 1945. Bay Farm Island was settled in the 1850 and for many yeas the land was used for agricultural purposes. Most of Bay Farm Island was marsh land, but after the 1920s the land near Bay Farm was filled to accommodate the Oakland Airport and the fairway of the Alameda Golf Course. After the gold course was built subdivisions were developed on the old farm lands. In the 1920 the entire population of Bay Farm Island was 300 people. During that time of rapid development a proposal to create a park became an important thing for the local residents. The first ideas for the park were as a public beach and picnic grounds covering 25 acres.

GODFREY PARK RECREATION CENTER

In the 1920s the residents of Bay Farm Island were very vocal in their desire for a public park. In 1945 the Council finally acquired 4 acre parcel of reclaimed marsh land near the homes on Beach Road. The Park was named for Mayor Milton C. Godfrey. At the time of it's opening the population of Bay Farm Island was 500 people.

FIELD AT GODFREY PARK

In the 60's Godfrey Park was renovated with a new baseball field, blacktop with basketball courts, and a paved picnic area near the new recreation center.

Alameda Parks - Godfrey Park is one of many parks in Alameda. I have written articles about other Alameda Parks including Bay Farm Island, Krusi Park, Longfellow Park, Franklin Park, Washington Park, A McKinley Park, Lincoln Park, and Jackson Park.

ALAMEDA WALKS - BAY FARM ISLAND THE UPLANDS

ALAMEDA WALKS - BAY FARM ISLAND THE UPLANDS Alameda Walks - Bay Farm Island The Uplands took place on Saturday, June 18th. it was a beautiful day for a discovery walk. Our leaders Dennis Evanosky and Eric Kos were ready to open our eye to a new way of looking at the history of an area Alamedans have ignored. Dennis and Eric walked us through a section of Alameda's Bay Farm Island once called the "Uplands".

Dennis Evanosky and Eric Kos

Alameda Walks - Bay Farm Island The Uplands Bay Farm Island was mostly marsh and tideland's. However, the Uplands was not marshland and was at a slightly higher elevation than the surrounding marsh. It was a place where the Oholone Native Americans came to hunt. The Uplands was about 230 acres is size. When the Europeans came to the Island many of them farmed, thus the name Bay Farm Island.

The Europeans who came to settle Bay Farm Island Uplands were squatters. In 1851 Luis Maria Peralta was given a land grant from the King of Spain which included lands from Berkeley, north of Alameda and south, to San Leandro. Squatters settled the land and were able to obtain title to the land at some point. They began farming and selling off parcels of land. Dennis Evanosky has investigated county recorder documents and is still trying to discover when the land was actually transferred to the squatters.

Dennis, Eric and the Alameda Walks - Bay Farm Island Group

The farmers sold their fruit and vegetables to the Gold Rush miners at high prices and made a fortune. In the 1920's developers began filling parts of what is now the Oakland Airport and the Chuck Corica Golf Couse. In 1923 developers built homes on an area of the Uplands near the Golf Course.

Alameda Walks - Bay Farm Island The Uplands was a fast paced walk through an area where very little is know of its history by the average Alamedan. It was our walk of discovery.