Gene Riemenschneider East Contra Costa Home Sales 01492725

I work with Home Buyers and Home Sellers in East Contra Costa County. I have a client I have been working with for some time looking for a Bank Owned Home in Brentwood. He thinks he has found a house he wants to put an offer in on, but wants to see it one more time today.

But he then e-mailed me about an article he read in the paper, quoting it extensively. Basically it was regarding the number of homes that have been foreclosed on, but are not on the market. A key point was that the banks are not putting everything on the market at this time so that the home prices will not collapse further. This is probably true. But I wanted to share my response to him with you:

There is probably some truth to this article. But it only focuses on one piece of the puzzle and is Newspaper gloom and doom. No one wants to read a head line that promises good news. Other factors to consider that I do not have the answer for include:

* Will we see inflation (I think so!)?

* Can interest rates remain this low, especially with inflation?

* Will the government bailout effectively stop or drastically reduce future foreclosures? I have been told the major banks are holding off on foreclosures at this time waiting to see how the bailout will work.

* What is the real shadow inventory and how fast will they put it out? If they put it out slow enough in an inflation economy there may not be more price drops.

* Where is your money safest from economic instability. The stock market? the banks? Under a mattress? Property?

I do not know the answer to any of this and am constantly concerned about the economy. I would buy if I could get a loan. (Being Self Employed and with 2 low earning years behind me I am having trouble getting an FHA loan to buy a house big enough for a family of 7, even though the mortgage may be cheaper than my rent!) My feeling is property is the only tangible asset that will be here when this all sorts out.

If I could predict the future I would have bought Microsoft 20 years ago and be retired, but I believe the above is accurate advise.  On the flip side I find that very little of what is said in the main stream press is accurate or comes to pass. 

If you are a First Time Buyer or an Investor looking for a home in Brentwood, Antioch, Oakley, Discovery Bay, Pittsburg, East Contra Costa County, all of Contra Costa County, or the East Bay, please contact me.  I am here to help Home Buyers and Home Sellers.

There are two basic skills in becoming a successful Realtor. The first one is the ability to obtain clients Buying Homes or Selling Homes. The second skill is the ability to successfully help Home Buyers and Home Sellers obtain their goal. I do not think the first goal is more important than the second, but you cannot achieve the second without achieving the first. My problem is I have always been better at the second than at the first. I am not a smooth person. A polite way of saying I am a big awkward guy who can put my foot in my mouth on occasion and tend to be truthful while sometimes lacking tact.

My goal has always been to help people Buy Homes and Sell Homes in East Contra Costa County; especially in my home town of Brentwood. I enjoy living in Brentwood, but there are many fine towns around here. I have owned and lived in Homes in Antioch and I have been looking at Homes in Oakley and Homes in Discovery Bay. There are also many fine Homes in Pittsburg.

My challenge is how to share my knowledge with the Home Buying and Home Selling public, especially those interested in Bank Owned Homes. The answer is Active Rain. Active Rain provides an effective forum to share information with Home Buyers and Home Sellers. It also provides training to agents on communicating with the Home Buying and Home Selling public.

Agents are rated on Active Rain in a number of ways. Agents are ranked in each state, county and city. Primarily agents are rated for educating themselves and the ability to share information and educate Home Buyers, Home Sellers, and other agents. Active Rain effectively combines the two most basic skills of being a successful agent.

Now I don’t know if this is awkward or tacky but I am going to toot my own horn. I have reached the number one position in Brentwood CA. Now Active Rain does not keep track, but I did an informal review and I am also the top ranked agent in East Contra Costa County. My primary market, includes Brentwood, Antioch, Oakley, Discovery Bay, Pittsburg, and other East Contra Costa County Communities. Active Rain has helped me both to communicate to Home Buyers and Home Sellers, but has helped me become a better Realtor.

My primary goal remains the same, successfully help Home Buyers and Home Sellers to obtain their goal. My Active Rain goal is to improve my rating as an agent in all of Contra Costa County and the East Bay, markets I also work in. I want to thank everyone at Active Rain that has helped me and I really want to thank Home Buyers and Home Sellers who have let me help them.

East Contra Costa County and Brentwood in Particular are filled with a number of nice parks. If you own a home in Brentwood you will find this to be a nice feature. Loma Vista Park is a very nice park on the corner of Highland Way and Meadowgate way on the back side of Loma Vista School off of San Jose Ave.

Living in Brentwood is something my wife and I enjoy. With five boys having a variety of parks for them to play in is important to us. My son Jansen (Pictured his Borg name is just 4 of 5 – Trekies will get it!) here accompanied me to Loma Vista for the review. He works cheap, just for ice cream.

There are some benches and picnic tables, and three play structure areas geared for different areas. There is also a large open grassy area that is good for playing games and just running. I have seen teams practicing baseball in the grassy section. If you want more information about living in Contra Costa County, East Contra Costa County or Brentwood please contact me.

People have suggested I publish this on the public side. Not just for Realtors so here it is. I want to emphasis that I sympathize with most people that are foreclosed on. I have had my financial challenges in the last several years too.

I’m going on another rant and not sure if I should post this on the public side. I am really ticked off by what I see people doing to homes when they are foreclosed on. Wait before you tune out. I am going to suggest a solution at the end of this.

We have all seen or heard about the following acts. Counter tops ripped off. Hammer taken to walls, counter tops, fire place surrounds, patio, plumbing cut, wells and septic systems destroyed, tubs left on for water to overflow throughout the now empty house, AC and heating units taken, built in appliances taken, cabinetry taken, etc. The one I have heard about by not seen is concrete poured down all the toilets. If you’ve got one I’ve missed add it in the comments section. My favorite, a really big name Realtor around here did some of the above, cut the carpet out and damaged the tile floor on the way out of her former home. She should know better.

I might understand some people taking the built in appliances if they paid for them apart from the house and really can use them somewhere else, but most of this is just spite and those things will end up setting in the garage at the in-law unit they will be living in. I also understand that many people loss the ability to keep the homes up long before they are foreclosed on and many foreclosed homes are maintenance deferred.

This sabotage is a crime. However, in an era when violent criminals are being put back on the streets on a regular basis I don’t think the cops will have the time or the energy to deal with this. However, lenders should document the damage. At some point in the future there may be an opportunity for civil recovery, especially if the damage was done after the foreclosure. Remember I am only suggesting this against malicious and wanton destruction which is doing no one any good; lenders, buyers, sellers or tax payers.

My other solution is two tiers on the credit reports. Those that get foreclosed on and cooperate and those that do not. As part of the recovery plan those that have cooperated should have a chance to rebuild their credit and buy another home in as little as two years. I know some will not want to give them a second chance, but these are unique times with lots of causes and many people loosing homes who are honest and hard working. Those that have destroyed the homes should never be given any kind of government backed loan again, or at least until after they pay for the damage they did. The lenders should have the well documented file to back up the black mark on the credit report. I only think this should be done in the extreme cases and it is important to have it well documented so lenders do not abuse this.

What do you think? And should I post this on the public side? (You said yes and I just did!)

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.

One of the most frustrating experiences for buyers is when they find a great home at a great price. Frequently these are Bank Owned Homes priced low to attract multiple offers. The bank gets multiple offers then sends out a multiple offer counter asking each potential buyer to put in the highest and best offer they can.

Buyers love the thought of getting one of those cheap Bank Owned Homes, but when there is a low priced high quality home everyone sees it. There is no secret or special deal and this is the part buyers hate. They want the property, but they do not want to pay a dime more for it than they have to. They ask me what they should pay. I can only tell them what other house like that are selling for, what the current market it like, and provide them with a little psychological insight (like bidding odd figures, coming in a little higher than the round number they came up with, etc). I explain there is no sure thing. I do not know what the other parties will bid and will probably never know. The thought that they might bid high and over pay drives some people crazy.

I try to tell people the true value of anything is exactly what someone is willing to pay for it. If they are emotionally committed to a home they should be willing to pay as much as they think they will have to pay to get it (within affordability). If they pay $5,000.00 or $10,000.00 more than they might have had to (which they will never know) that money has been paid for peace of mind and knowing they have the home they want.

We pay to avoid risk every day. We pay thousands every year for homeowners insurance, auto insurance, health insurance, liability insurance, home warranties, auto warranties, and many other types of insurance. Most of the time we pay more into insurance than we get out of it, but when we need it we need it.

Now if a buyer really loves a home and no other home will do, is it worth it to over pay by $5,000.00 (and remember you really will not know if you over paid). Compared to the total cost of the home and the length of time you plan to live there it is probably very cheap. Never beat yourself up second guessing what you bid. Think how much you would beat yourself up if you missed getting the dream home by $5,000.00 and have to drive by it everyday on the way to work.

To find your dream home at the right price in the East Contra Costa County, Brentwood CA, Antioch CA, Pittsburg CA, Oakley CA, or Discovery Bay CA please contact me. Or you may search all the available homes on the MLS. For general information go to www.AskGene.info