Gene Riemenschneider East Contra Costa Home Sales 01492725

In this drastic down market many people owe more on there home than they can sell if for. This is called being upside down. If you cannot afford the house payment of need to sell your options may seem limited. You can pay the bank the difference at the time of the sale, this could be hundreds of thousands of dollars or you can walk away from the house and return it to the bank (foreclosure).

The third option is a SHORT SALE. Short sales have been problematic, as many banks were not cooperating with the short sale. Most banks would not even talk to you until you had an offer in and then they would take months to get around to approving the sale. Frequently the potential buyer then moved on. I had heard that only 5 – 10% of short sale homes actually sold.

THE GOOD NEWS IS That Wachovia is working with Short Sale sellers. This includes any World Savings loans as Wachovia purchase World Savings. If the offers come in at market price they are quickly approving these sales with minimal documentation of distress from the sellers. In Short get the offer and the transaction is taking no more time than a normal sale.

TIME IS LIMITED as Wachovia has been sold to Wells Fargo. Soon the Wachovia structure will be pulled into the Wells Fargo structure. Wells Fargo may not continue the liberal Short Sale policy. If you have a Wachovia or World Savings loan you need to contact me now. Please Click Here to go to my web site. Submit the information for a home evaluation and I will provide a FREE home evaluation and follow up with you on Selling Your Home. 

BE CAREFUL ABOUT THE REALTOR YOU WORK WITH.  IMPORTANT SPECIAL STEPS MUST BE TAKEN TO MAKE SURE YOU ARE NOT HELD RESPONSIBLE FOR THE BANKS LOSS.

If you are interested in Buying a Home, especially a discounted Wachovia Short Sale or a Bank Owned Home please contact me ASAP while prices and interest rates are low.

If you are interested in Buying a Home or Selling a Home in Brentwood or anywhere in East Contra Costa County, Antioch, Oakley, Discovery Bay, Pittsburg, Bay Point and others please contact me. For regular updates please subscribe to this blog.

This is not the usual Real Estate Blog but should be of interest. I have posted here that I would be going to a Tea Party and I did. I want to share what happened and give you the best info I can, not just facts but a feel.

The party was set to start at 3:15 pm in Pittsburg, CA. For those not familiar with the area Pittsburg is a medium sized bedroom community in East Contra Costa County. I got there early (about 2:30) expecting to find someone setting up. However, no one was present and the lot on the corner of E. Leland & Century is posted no parking. I drove around and came back a little after 3. One of the organizers, Sean, had just arrived. Most of these concerned citizens are law abiding citizens and the parking was of immediate concern. Sean drove around and looked for alternatives, but it was decided that we would all park and just move if someone showed up to tow or the police asked us to.

Sean had some “home made signs” and there were a number of pre-printed signs from KSFO Radio (a San Francisco conservative talk station). Other people showed up with signs they had made. People spread out along the intersection waiving signs and a number of people spread out along the edge of the nearby highway 4.

I was present until about 4:30. When I left about 30 vehicles were parked, most people came with two or more in the car. I would estimate 75 to 100 people present. I suspect more people showed up after 5. They ranged from pre-teens to senior citizens. We had bikers, veterans, business men, families, and all types of people. I had never done anything like this and was a little nervous. The press came took picture and interviewed the organizers. I latter saw the press coverage on the front page. The information was minimal, but it was fair.

I did no official interviews. But I would say most people are conservative to populist, with a strong libertarian sentiment. Conservative Christians were present. Most people felt the key issue was government spending and loss of freedom. A number of tracts were handed out on religion and politics. I read most of them and agreed with a lot of what I read, but also felt that much of it would not appeal to the average person with limited interest in the subject. In short it could have been phrased and explained better for broader appeal. Most people who drove by were positive and honked.

The police did not show up while I was there. We also had no problem with ACORN. One person drove by a few times and told us to F--- off. He yelled something about us turning this country into Mexico? I didn’t get it.

I had my video camera and recorded one interview. (Then the battery went. I thought I charged it.) I am attaching the video. This is one of the organizers who brought her grandson with her.

Someone else videoed me; I did not have a pre-planned statement. I hope to get a link to that video latter.

If you are at all concerned about the direction this country is going I would encourage you to attend a rally and get involved. This was a small rally. But many were much bigger. These are not the professional protesters that we usually see. These are people with real lives and other things they would rather be doing, but they are out there as they feel they need to do something for our country. I do not know if there will be another day when the nation turns out at once, but the next time it is set is very important as momentum needs to be kept up, this means new people need to get on board.

If you are interested in Buying a Home or Selling a Home in East Contra Costa County, Brentwood, Antioch, Oakley, Discovery Bay, Pittsburg, Bay Point and others please contact me. For regular updates please subscribe to this blog.

Are you a First Time Home Buyer seeking to Buy a Home in East Contra Costa County? Did you want to find a home in Bay Point, Pittsburg, Antioch, Oakley, Brentwood, Discovery Bay, or other smaller communities. Maybe you need to know about ?

If you are a Home Buyer or Home Seller in Brentwood or East Contra Costa County these are numbers you should pay attention to. Although there are many Bank Owned Homes this market seems to be holding steady. These numbers are taken from the local Multiple Listing Service today April 15, 2009. There is some variation on the February numbers in the March 2009 Brentwood Market Report probably due to late reporting on some sales.

In Brentwood CA there were 82 home sales in March 2009. The average home price was $299,680.00 and the median home price was $289,400.00. The average price per SF was $128.00 SF. The average Days on Market were 47.

The February 2009 numbers for Brentwood, CA appear much better, but there is a reason I will go into latter. There were 88 home sales with an average price of $341,597.00 and a median price of $347,500.00. The average price per SF was $131.00 and the average Days on Market were 42. On first glance is seems the market is still going down sharply, but there was one luxury home sale at $1,250,000.00 that skewed the numbers. If that home is removed the average price is now $331,156.00 and the median price is $345,000, with the average price per SF at $129.00.

The important number above is the average price per SF which shows a very minuscule price decrease. The decrease in the large numbers is an indication that Buyers in Brentwood, CA are looking for smaller homes priced at an entry level.

Currently there are 246 homes for sale in Brentwood, CA with an average price of $436,023.00 and a median price of $325,000.00. This is an average price per SF of $199.00. The average Days on Market are 101. Obviously the higher priced and overpriced homes are not moving. Those homes that come down into the price point do sell.

If you are interested in Buying a Home or Selling a Home in Brentwood or anywhere in East Contra Costa County, Antioch, Oakley, Discovery Bay, Pittsburg, Bay Point and others please contact me. For regular updates please subscribe to this blog.

Are you a First Time Home Buyer seeking to Buy a Home in East Contra Costa County? Did you want to find a home in Bay Point, Pittsburg, Antioch, Oakley, Brentwood, Discovery Bay, or other smaller communities. Maybe you need to know about Bank Owned Homes?

This information is primarily for the First Time Buyer, but many of them are things all buyers should consider. Each Market is local and Real Estate and Lending Markets are constantly changing. For the most current and up to date information please contact me directly at 925-260-4321 or Gene@AskGene.info.

Things to Consider:

• Know what you can Afford: Talk to a loan office before you start. Find out what you can afford and what your payments will be. Most sellers will not accept your offer unless you have a pre-qualification Letter. They can help you with Credit Repair.

• FHA Loans: The best entry level loan for buyers with minimal down payment available is the FHA Loan. The Down Payment is 3.5%, However, the seller may pay provide a credit for the closing cost. The down payment funds may also be gifted to the buyer. There are Tax Credits for buying.

• 100% Financing: Except for Veterans there are not a lot of zero down payment options at this time. If you are a veteran contact me about VA Loans and getting your home. I am constantly monitoring the lending market and will let you know when 100% financing returns to the market. Certain cities have First Time Buyer Programs available; please contact me for information on particular cities.

• Other Loan Options: If you can afford more down payment then consider putting more down, however, not always. If you can afford 20% down then you will probably get a better loan with no PMI (Premium Mortgage Insurance) payment. However, I had a client taking a FHA loan who could have put down about 6 to 7%. I advised against this as it would not help the loan rate or lower the payment significantly. I suggested they save the balance of the available funds as a reserve.

• Find a Realtor: A good Realtor can educate you on the current market and the area you are looking in. A Realtor will guide you to the home that fits your needs and budget; advise you concerning local pricing and the sale of comp properties; and provide you with information on the local community. Some buyers think they will save money if they go straight to the Listing Agent on a property. Not so. Generally the listing agent just takes the commission for being the buying and selling agent; but will only represent the seller and not provide you with all the disclosures and obligations of a buyer’s agent.

• Buyers Do Not Pay Realtor Fees: Generally speaking the sellers of the property pay the fees of both the seller and buyer agent.

• Get $8,000.00 from the Government: Until 12/31/09 if you are a first time buyer you can qualify for a $8,000.00 tax credit. That is a Credit, not a deduction. That $8,000.00 could be enough to cover the down payment on house costing up to $228,571.43. Please note the government will not provide the money at the time of purchase to cover the down payment at that time.

• Get another $10,000.00 form the State Government: The State of California has a program for a limited time to provide a $10,000.00 credit over 3 years to the buyer of a new home. This is a limited time only. This credit can be combined with the Federal Tax credit for a Total of $18,000.00. Yes the government will give you $18,000.00 just to buy a home. This is enough to cover the cost of a down payment on a home costing up to $514,285.71.

• Builders Pay Realtors to Bring in Buyers: Yes, a Realtor can help you find a new home and the builders will pay us to help you. IT IS VERY IMPORTANT TO GET THE REAL ESTATE AGENT FIRST AND BRING THEM WITH YOU TO YOUR FIRST VISIT AT THE NEW HOME COMMUNITY. Remember, the builder’s sales agent does not work for you. I will. A home is the biggest purchase most people will make. You will be in a high pressure environment designed to get the most money out of you. You need an agent in your corner. Especially when being paid by the builder.

• Get help for Credit Repair: Get advice on repairing your credit. Some things you do that you think will help may only hurt. It may be easier than you think to repair your credit. But no matter how long it takes you need a plan. FHA loans may be possible even with poor credit, if you can demonstrate an ability to pay the loan.

• Educate Yourself: Talk to your Realtor and get information. Look at homes on line. You may go to my web site to look at homes www.AskGene.info. You will find every home by every agent on my web site. This report was prepared on March 18, 2009. Some information (especially regarding lending and taxes) is subject to change. Please contact me for the most up to date information. Gene Riemenschneider Area Pro Realty 925-260-4321 Gene@AskGene.info www.AskGene.info

This Blog is about giving you the information you need when East Contra Costa County including the cities of Brentwood, Antioch, Oakley, Discovery Bay, Pittsburg, Bay Point and others. As a Realtor I can help you. Please contact me if you need more information.

If you are looking to Buy a Home in East Contra Costa County you probably have many questions about home pricing, market direction, schools, traffic, entertainment, recreation, parks, churches, and other social groups. You may have questions about many of the fine communities of Bay Point, Pittsburg, Antioch, Oakley, Brentwood, Discovery Bay, or other smaller communities. Maybe you need to know about Bank Owned Homes?

Would you go on a trip without a map? Should you go into a new community without a guide? Would it be wise to make a major financial investment without experienced counsel?

This Blog is about giving you the information you need when East Contra Costa County including the cities of Brentwood, Antioch, Oakley, Discovery Bay, Pittsburg, Bay Point and others. As a Realtor I can help you read the map.