I use Placer Title company in California whenever possible. A broker has started a company called the Short Sale Advantage which is affilieated with Placer title. The only thing is that the selling agent must usePlacer Title company if the listing agent is using this service. The plus is that the listing agent only gives a 20% referral fee to the company and saves on not only potential liability but stress in working with the asset manager. Here is the information on the company.
We are proud to announce the official opening of SSA, Short Sale Advantage. The license has been approved and Leslie Ory will be open for business today, November 5th, at her office in Auburn. Her office phone number is (877) 626-0668 and her fax number is (530) 887-7447. Please remember that communication with Leslie is best accomplished on line at www.shortsaleadvantage.com, via email at lory@shortsaleadvantage.com, through her Sure Close connection or by fax.
Take a minute to send Leslie a note and let her know how excited we all are for our / her new venture.
Ready to close the deal? Maybe not.
Sometimes unforeseeable issues arise
just prior to closing the sale. Hopefully, with negotiation, most of these have a workable solution. Unfortunately, this is not always the case. But don't panic. Another buyer might still be found who is willing to accept the house as is.
Imagine that your prospective buyers are a couple with young children. They envision your unused attic as the perfect playroom for the kids but, before closing the deal, they request an inspection to see if it's safe and also if they will be able to install a skylight to provide natural light to the new space.
This inspection reveals that under the shingles that are in good condition is a roof that will only last another year or two. The prospective buyers immediately balk, not wanting to incur the time and cost of replacing the roof. Their plans were to move in and only have to spend time and money renovating the attic. The additional cost of the new roof, they say, is just too much.
At this point, you sit down with the prospective buyers and calmly discuss the situation and how it can be solved to the benefit of all. First, you agree to get another professional opinion on what really needs to be done. Inspectors are only human, and are not infallible. Once the extent of the damage is agreed upon, you can jointly decide what to do about it. While the buyers hadn't planned on that expense, you show them that instead of a limited roof life that they would get with most existing homes, they'll have a new worry-free roof that won't cost them in repairs for the next decade or so. Since the roof wasn't in as good shape as you had thought, you agree to lower the purchase price to help offset the cost of the new roof.
By negotiating calmly and looking at all possibilities, what could have been a "deal breaker" can be turned into a win-win situation for both the buying and selling parties. In other cases, the most workable agreement for both parties might be for the deal to be called off. The seller can always find another buyer and the buyer can always find another home.
To protect yourself against last minute "buyer's remorse," make sure the purchase contract anticipates and closes as many loopholes as possible after all known defects have been fully disclosed.
Jean Powers is a Certified Residential Specialist and is a Broker Associate at Kane & Associates. Jean can be reached by email at Homes@JeanPowers.com or by telephone at 510.908.9002
Buying a home in today's market may be a challenge. And given the economic news we're getting, it may take nerves of steel to jump in right now. But there are many homes on the market right now that are great values. If you have good credit, money for a down payment and are pre-approved by a bank, there are homes that may fit your needs. It is interesting how everyone is crying the blues about how difficult it is for buyers to purchase a home. We are back to how it was over 15 years ago, no stated income, no 100% financing. In order to purhcase a home, a buyer must have 20% soen, great credit and a job. We are back to the good ole days!
In the Bay Area it's a great tim
e to buy. So if you are ready to buy, find a service oriented, caring, ethical Realtor®. Get yourself preapproved by a lender. Start your journey for that home that you have always wanted and that is now attainable. Contact me when you are ready for that journey to purchase the biggest investment of your life. Why rent when you might be able to purchase in today's market?
Jean Powers is a Certified Residential Specialist and is a Broker Associate at Kane & Associates. Jean can be reached by email at Homes@JeanPowers.com or by telephone at 510.908.9002
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ACTIVE DETACHED REO & SHORT SALES |
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Criteria: All Active, Detached and Patio Home Villas |
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12/14/2008 |
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Detached |
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|
Area |
Active |
#REO |
%REO |
#PotentialShort Sales |
%PotentialShort Sales |
%PotentialShort Sale + %REO |
|||
|
Alameda |
87 |
10 |
11.49% |
11 |
12.64% |
24.14% |
|||
|
Castro Valley |
161 |
20 |
12.42% |
33 |
20.50% |
32.92% |
|||
|
Danville |
193 |
10 |
5.18% |
18 |
9.33% |
14.51% |
|||
|
Dublin |
99 |
14 |
14.14% |
38.38% |
38 |
52.53% |
|||
|
Fremont |
369 |
70 |
18.97% |
41.19% |
82 |
22.22% |
|||
|
Hayward |
596 |
185 |
31.04% |
78.19% |
281 |
47.15% |
|||
|
Livermore |
318 |
58 |
18.24% |
44.03% |
82 |
25.79% |
|||
|
Newark |
116 |
34 |
29.31% |
57 |
78.45% |
49.14% |
|||
|
Pleasanton |
206 |
8 |
3.88% |
12.62% |
8.74% |
18 |
|||
|
San Leandro |
256 |
63 |
24.61% |
39.06% |
100 |
63.67% |
|||
|
San Lorenzo |
87 |
29 |
33.33% |
47.13% |
41 |
80.46% |
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|
San Ramon |
196 |
22 |
11.22% |
26.53% |
52 |
37.76% |
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Union City |
181 |
44 |
24.31% |
43.65% |
79 |
67.96% |
|||
|
Total |
2865 |
567 |
19.79% |
892 |
31.13% |
50.92% |
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|
Detached |
Active REO / Bank Owned |
Active (Not PSS* or REO) |
Active Potential Short Sale |
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|
Area |
Active |
Avg LP |
Avg $/Sqft |
Active |
Avg LP |
Avg $/Sqft |
Active |
Avg LP |
Avg $/Sqft |
|
Alameda |
66 |
$777,694 |
$375 |
10 |
$597,250 |
$355 |
11 |
$612,064 |
$329 |
|
Castro Valley |
108 |
$821,162 |
$361 |
20 |
$460,262 |
$268 |
33 |
$571,271 |
$320 |
|
Danville |
165 |
$1,452,793 |
$443 |
10 |
$972,770 |
$287 |
18 |
$906,621 |
$333 |
|
Dublin |
47 |
$796,423 |
$311 |
14 |
$486,886 |
$312 |
38 |
$662,026 |
$262 |
|
Fremont |
217 |
$954,883 |
$446 |
70 |
$445,303 |
$315 |
82 |
$513,165 |
$316 |
|
Hayward |
130 |
$615,139 |
$295 |
185 |
$317,600 |
$212 |
281 |
$343,772 |
$228 |
|
Livermore |
178 |
$923,984 |
$380 |
58 |
$414,658 |
$258 |
82 |
$491,218 |
$272 |
|
Newark |
25 |
$597,312 |
$351 |
34 |
$415,767 |
$262 |
57 |
$397,045 |
$309 |
|
Pleasanton |
180 |
$1,510,970 |
$451 |
8 |
$774,800 |
$334 |
18 |
$627,360 |
$342 |
|
San Leandro |
93 |
$502,265 |
$302 |
63 |
$300,284 |
$239 |
100 |
$351,635 |
$277 |
|
San Lorenzo |
17 |
$451,388 |
$331 |
29 |
$309,710 |
$234 |
41 |
$318,034 |
$254 |
|
San Ramon |
122 |
$1,001,827 |
$415 |
22 |
$780,320 |
$287 |
52 |
$787,270 |
$298 |
|
Union City |
58 |
$654,418 |
$322 |
44 |
$457,739 |
$257 |
79 |
$480,299 |
$264 |
|
Total |
1406 |
$850,789 |
$368 |
567 |
$517,950 |
$278 |
892 |
$543,214 |
$293 |
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Information deemed accurate but not verified. |
*
Being that I have lived on the Island of Alameda all my life it always a pretty site to see the Parade of Lights on the estuary that surrounds my great city! Many owners of sailboats, little boats, barges, motor boats and yachts decorate with bright holiday lights and parade up and down the estuary between the city's of Alameda and Oakland. See for youself! Here are a few great photos.
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Serving Alameda, Oakland, San Leandro, San Lorenzo, Castro Valley, Pleasanton and San Ramon and most of Contra Costa county. Call/text anytime!! "I Sell Dreams"
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