About San Leandro's Bay-o-vista

Bay-O-Vista Neighborhood is located in the rolling hills east section of San Leandro. This is generally the most expensive area in this town of only 75,000 people. Situated right in the middle of the San Francisco bay, it has easy access to the Bay the San Mateo and the Dumbarton bridges. Only 20 minutes to downtown San Francisco, 10 minutes to Oakland International Airport and 45 minutes to San Francisco Airport.

Bay-O-Vista offers homes that are very spacious, typically ranchers with an average of about 2,200 square feet mostly in one level, most homes here have at least 3 bedrooms, two full bathrooms, two fireplaces and a spacious 2 car garage and boast very generous sized lots. The streets are wide and the views are impressive. There is no public transportation in this area, nor miradors or places for the general public to come and enjoy the views of the bay, this helps keep Bay-O-Vista a very quiet, and low traffic area.

The most impressive part of Bay-O-Vista are the panoramic bay views, in the distance you can see the bay and in a clear summer night, (like in the picture below) you get presented with a show of lights at dusk, sunsets are the best part of the day for the views. At the back of the hill, the views are of the park and the lake.

The natural boundaries of Bay-O-Vista are; on the west side Highway I-580 and on the east side Anthony Chabot Park. On the South is the border with Oakland. Bay-O-Vista Family fitness, Tennis and Swim Club located right in the neighborthood gives preference to those who live in the area. The location is ideal for those sports aficionados, there are within walking distance a semi private park and picnic area at the end of Estudillo Avenue, hiking trails, fishing and boating are offered by the Chabot Park year round.

The real estate in Bay-O-Vista maintains very good values, most of these homes are either custom or semi custom with a bevi of features that are very unique. There is a mansion that has 6,700 square feet, 6 bedrooms, 4 full bathrooms, 2 half bathrooms, 2 kitchens, family and rumpus rooms plus an indoor swimming pool with a retractable roof, topping that with a beautiful view of the bay and the San Francisco skyline. As of mid 2009 this home was on the market for only $1,400,000. This is only one of the many custum homes that are very unique to this great area.

Most of the people who are the original owners bought their lot and had the house built to their specifications. Bay-O-Vista residents are very proud of their neighborhood. It is by far the very best area to live in San Leandro. Call, us, we would love to take on a tour of available homes for sale in Bay-O-Vista.

The process of sale of real property through Probate Sale with Court Confirmation is a court regulated series of steps that must be clearly and carefully managed. The deadlines are unforgiving, the documentation is specialized, the time elements are critical and the court's oversight must be honored at all times by all parties.

If you bought a house with a tag that reads: "Probate Sale with Court Confirmation" required. What is the one question you don't want to hear at the court confirmation hearing? Are there any over bidders? After being in escrow for 30-45 days, having your loan approved, maybe even having the moving van packed and ready, someone might stand up in court to answer that question and buy the same house on the spot, or at least make you pay more for it. Being ready to deal with this situation could bring this type of purchase to a happy ending.

A Probate sale is a legal proceeding used to liquidate and settle a person's legal and financial affairs after death. Here in California, these sales are conducted in the Superior Court of the decedent's county of residence at the time of death. Court confirmation is either chosen or required, there are probate sales that do not require court confirmation and are handled just like any other sale.

Why is there a Probate? How much does it cost? When does it happen? How long does it take? These are all valid questions that are better left for an attorney to answer, that is why you should not take this information as legal advise.

From the Realtor's point of view, if you see a house for sale with a label: "Probate Sale With Court Confirmation" be aware that this tag affects the offering price, the condition of sale, the paper work used and most important of all... you will not know whether you bought it or not until about 30-45 days after you get your offer accepted, and you'll need the judge's gavel to confirm that you are the new owner. Understanding the following steps ought to help you stay on course:

* The offer must be written on a Probate Purchase Agreement form. These documents clearly specifies some of the most important time elements involved, plus it clarifies the differences between 3 different Probate Sales.

* An offer on a Probate Sale with Court Confirmation must be at least within 90% of the asking price which is the Probate Referee's Appraisal Value. Offers below that will not be accepted.

* A 10% deposit must be presented with the offer; often times it must be a cashier's check issued in the name of the decedent's estate. Buyers with no down payment VA, or FHA loans with minimum down payment might not have a chance.

* Once the offer is accepted it will have a "conditional acceptance" and the time periods for physical inspections and appraisals begin at this point. After the buyer's removal of such contingencies a court date for the confirmation hearing of the sale is scheduled.

* On the day of the court hearing (which is 30-45 days after removal of contingencies), all parties must show up in court. During this hearing, the previously accepted bid may be overbid by another buyer, this interested party must appear with cashier's checks in hand and be ready to raise the price under the supervision of the judge.

* Buyers must fully understand the overbidding process, each court will handle the rules differently, but for the majority it is A) 5% above the accepted price plus $500. Or B) 10% of the first $10,000 plus 5% of the balance of the accepted offer. In each case the judge will announce the minimum amount of the overbid after that; it could be $1,000 or $10,000 depending on the price range. The winning bidder must deposit at least 10% of the final price with a cashier's check.

Any person who bids in court must make an unconditional offer. Obtaining financing or approving inspections should not be a condition of the offer. In the event the buyer defaults after a court confirmed sale, the buyer may lose the deposit. If the court confirms the sale to an over bidder rather than the original buyer, the original buyer's deposit shall be refunded.

Real estate commissions are also subject to the approval of the court, and the rules are very different and very clear. If the over bidder has a Realtor, or worse, if there are other bidders with Realtors, what happens with the commission? Is the first purchaser's Realtor entitled to a commission if his buyer is not the winning bidder? What happens if the over bidder does not have a Realtor? Once you are involved in this type of sale, either as a buyer or a Realtor, or Executor, you better know how the rules apply to you. A Realtor should encourage the home buyer to familiarize himself/herself with this process.

Above all: AVOID THE PROBATE PROCESS... CREATE A TRUST! Sorry, I did not mean to shout! But you'll better not get caught dead without a will; your family will make you pay for it! (By not cleaning your grave yard for example)It will save them lots of time and money so have your affairs in order just in case, no matter how young or healthy you think you are. AMEN!

Antonio & Alexia Cardenas, "The Realtors In Motion" GRI, CRS. Serving the East shores of the San Francisco bay. Alameda and Contra Costa counties, particularly the cities of: San Leandro, Castro Valley, Hayward, Oakland, San Lorenzo, Pleasanton and Dublin. Visit us at: www.listedbyantonio.com Call us, we'll come and TANGO with you! (510) 326-4263

Hello blog readers,

This Saturday, May 23rd, I will be hosting an open house in the Lealand Heights area of San Leandro's Bay-o-Vista.

The home is a probate sale priced at $450,000.00. I will be holding it open for Ernest, a Realtor in my Prudential California Realty office.

I asked Ernest if I can hold this open, because I love this neighborhood. I'd really like to sell you one of these Lealand Heights homes.

Lealand Heights was built in the late 1930s and early 1940's by the Derry Bros. Co. Homes by the Derry Brothers will be very well built and with lots of charm and character. This home that I will be holding open as described by Ernest in the MLS

"Large, spacious older home with lots of original charm. Terrific bay views. Two fireplaces. Two bedrooms upstairs, one downstairs. Needs upgrades, and cosmetic work. It's a nice house in a nice area"

Stop on by and say hello

First time home buyers are looking at a market that shows no mercy, is highly competitive and does not reflect the conditions of a so-called "depressed real estate market." It is not easy to find a good house at the entry level without having to compete with other buyers, but with persistence, good preparation and the help of a professional local Realtor your chances of becoming a homeowner are better. Above all, be realistic, your very first house is not your "Dream House" but getting on the homeownership wagon will eventually get you there.

Many home buyers have decided to jump off the fence and buy their very first house; perhaps it was the drop on interest rates to historical lows, or maybe the number of perceived bargains offered by the banks and a high inventory of homes for sale, or the $8,000 offered as a tax incentive from the government. When all these factors are put together, you will think It's heaven and you will have the time of your life choosing the best possible home at the best possible price with an incredible low interest rate for the next 30 years... or is it?

This is not the true picture of what we are seeing today. It appears that the REO's or bank owned properties that flooded the market before and kept the inventory high due to their inability to dispose of those properties, have finally figure out how to sell them... by under pricing them! This strategy has been paying off for them very nicely. Buyers trying to outbid each other will push the price to the highest point the market can bear.

An underpriced REO home goes on the market and attracts a good number of home buyers who think that they finally found their dream home, or ideal investment. They quickly realize that they are not the only ones out looking at homes for sale. Here in the east shores of the San Francisco bay, in Alameda County, we are seen 40-50 and even 60 offers presented within days.

How can a home buyer compete and win this bidding war? By understanding how offers are viewed by the seller and being prepared to meet those requirements as much as possible. If you can pay all cash, there will be no financing contingencies or appraisals to wait for, and the escrow can close within days, but if that is not possible, follow these steps to strengthen your position and get your offer accepted;

•1. Do a complete loan application and bring every piece of paper requested by the lender

•2. Have the bank issue a complete pre-approval letter, signed by a real person

•3. Offer to pay more than the asking price if you can

•4. Put a large down payment if possible, this will help when your offer is compared to others

•5. Be prepared to take the house on an "as-is" condition and spell that out in the contract

•6. Reduce the inspection contingency from 17 to about 5-7 days only

•7. Reduce the close of escrow to less than 30 days if possible

Realize that the sellers don't care who buys their house, all they look for is to get the maximum amount of money they can, in the quickest amount of time with the least amount of inconvenience. They don't want to do any work, or wait too long to close the escrow or pay for anything extra.

Now that you finally decided to jump off the fence and get into the housing market and become a homeowner, you need to give this idea some time and dedication, as we get closer to the end of the $8,000 tax credit window of November 30 2009, there will be far more competition and you will need all the help you can get. Work closely with your chosen Realtor, don't go at it alone and be prepared to go see a house within minutes and possibly right an offer on the spot.

This market offers you a great opportunity to make the purchase of a lifetime... but others are also aware of these positive conditions and you will meet them when they compete with you... just when YOU think YOU found YOUR dream home. Happy House Hunting!

Antonio & Alexia Cardenas, "The Realtors In Motion" Professional Realtors, Amateur Balleroom Dance competitors. Serving Alameda & Contra Costa counties in the East Shores of the San Francisco Bay. Specially the cities of San Leandro, San Lorenzo, Hayward, Castro Valley and Oakland. Visit us at: www.ListedByAntonio.com (510) 326-4263. Call us, we'll come and TANGO with you.

I believe that it is time for all of us to begin fighting back! Yes, we must fight for our jobs, our careers, our industry. We can no longer just sit and wait for better days. I would like to challenge everyone who reads this post to give us ONE idea that we all can use to spread the word to the general public that is really not as bad as it looks, help us get our economy back on track.

Can you think of something positive to do? to say? to write? and to publish?Can we all start printing newsletters with ONLY POSITIVE NEWS? I challenge EVERYONE to speak only good news about our real estate market for one week. ONE WEEK ONLY! I think that we could not only influence our audience, weather it be our family, friends, colleagues, and obviously home buyers and home sellers, but more important than that, we will start believing it ourselves! There are good news out there! Get out there on the streets, and chat about the good stuff with everybody who listens! Nobody in the press points this out, but here is a short list of what is GOOD RIGHT NOW:

• Interest rates are are one of the lowest points in years
• Prices are so low that first time investors could start their real estate portfolio
• The New Tax Break for First Time Buyers offers $8,000 back, some of them will get cash back!
• There are so many unemployed trades people that doing any renovation is cheaper than ever
• Home sales are higher than a year ago. Inventories are showing improvement
• Home buyers are purchasing their primary residence, which is good in the long run
• Fannie Mae is raising the number of financed properties for investors from 4 to 10
• The Federal Reserve ChairmanBen Bernanke says the recession will end in 2009 recovery in 2010

See some examples right here, take some ideas from there, find out more about them and give that information to others. Let's launch a strong COUNTER ATTACK! We must spread positive news, like if our Professional lives depended on it, because it does! This information is not only for Realtors, but everybody who's business is hurting, the contagious fear fueled by news of a recession prevents people who can spend some money from doing anything. If they stop going out for dinner, the restaurant lays of a worker who now has no job and might loose his house and that will be one more listing that the bank will have to deal with. That ONE house will be added to the inventory of homes for sale in your city. Multiply this dozens of times in your county and 100's in your state and you can see how it affects everybody.

How Much has this Market changed You? What Are You Doing Different? I challenge you to put on your thinking hat and tell us; What are you doing to help yourself? ourselves? our economy? Is there anything YOU, as an individual would like us to do? C'mon, you can think of at least one! We would love to hear it!

Antonio & Alexia Cardenas, "The Realtors In Motion" Alameda & Contra Costa Counties in CA. Proudly representing the beautiful San Francisco Bay Area Towns of: San Leandro, San Lorenzo, Oakland, Castro Valley and Hayward. Visit us on line at www.ListedByAntonio.com (510) 326-4263 Call us, we'll come and TANGO with you. Accepting Referrals 24/7