Rebecca White

I have been studying pre-foreclosure and foreclosure properties for over a year now and have been tracking--on an informal basis-the numbers of short sales (pre-foreclosures) and REOs (foreclosures) for a while. A few days ago, I finally started to put this information into an excel format so that I can be more scientific about tracking these data.

Interestingly enough, the number of REOs has and continues to be negligible at best. Very few properties make it to the "courthouse steps" and those that do are neither desirable nor good deals (IMHO).

REOs (as of 4/21/08) SFRs--6, condos--3, 2-4 units-1

Short sales are a different story. When I first started noticing them on our MLS, there were around 30-40. This number has steadily grown each month to where we currently have over 100 short sale listings in San Francisco.

Short Sales (as of 4/21/08) SFRs--86, condos--17, 2-4 units-9

For more information check out my website: http://www.shortsalesanfrancisco.com/ as well as my newest short sale listing for only $350,000! http://www.951-35.com/

As an active blogger and networker, I am frequently contacted by people because of my knowledge of and experience with short sales (pre-foreclosures) and potential REOs (foreclosures).

I have been communicating for a few weeks now with a lender/real estate agent/investor who thinks similar to me in many regards.

It is well known that many of you who have ARMs and your rate has/is/will be adjusted/adjusting would like to if at all possible, KEEP YOUR HOME. Supposedly 80% of home-owners who have higher mortgage payments would like to keep their homes. Many investors are approaching you and trying to get a good deal--at your expense--the moment the NOD (notice of default) is filed.

My new colleague's idea is simple. He wants to help you keep your home by doing some creative financing and if you can't, then I would assist with a short sale.

So I am curious, is there really a demand for people who would rather work with ethical, licensed real estate agents who are seriously committed to helping you? Or would you rather take your chances with an unscrupulous investor who only has his interests in mind?

Let me know if you really want to keep your home and I will put you in touch with my colleague. And if he is unable to assist you, I will help you out of your situation by effecting a short sale and you can get on with your life without the embarrassment or financial ruin of foreclosure or bankruptcy.

For more info or to contact me, start here: www.SFBayShortSales.com

Having half my business in the East Bay, I am a member of the Oakland Association of Realtors. Whereas I live in San Francisco, I enjoy working in parts of Oakland as well as it is more affordable for many of the first-time buyers with whom I work.

As I have mentioned before, there are very few REOs (foreclosed or bank-owned properties) in San Francisco. Across the Bay, it's a different story and an excellent opportunity for investors!

I'm partial to North and West Oakland near Emeryville and Berkeley. Currently there are half a dozen 2-BR detached houses for sale $350,000 or less that are foreclosures. (one is very close to my short sale listing and available for nearly $100,000 LESS!)

East Oakland is a different story with more than 50 foreclosed homes available at $300,000 or less. I saw a cute one today (it was red like Keller Williams :) ) and it was less than $150,000! It had sold previously (2 years ago) for $360,000!!

There are some excellent deals in the East Bay. You don't have to go to Stockton or Modesto to pick up a good deal on an investment property.

Hello People Who Need Help,

I want to share a recent success story with you. On the first of February, I listed an adorable bungalow on the Oakland/Emeryville border. Immediately I received an offer over the list price. As my clients were having a baby and I was at a convention for a few days, we decided to wait and set an offer date after I could hold two open houses. Voila! A total of three offers--all over asking.

It took some time to get the short sale package together for the lender but when we did, it was amazing! I got it accepted the first go-round with NO counter-offer. Now we're waiting for the buyers' loan approval and will close in two weeks.

My sellers are very happy and sent the sweetest email to me calling me a "Godsend". They were on the brink of foreclosure and I saved them from that disastrous hit on their credit score. With your cooperation, I can do the same for you.

Check out my website: www.SFBayShortSales.com for more info about me and the pre-foreclosure process.

I was playing around the MLS today as I had someone looking in the $500-700,000 range. As our median price is over $800,000, I thought that it would be interesting to see how many homes were in this range. There are currently 214 homes (single-family residences) for sale at $700,00 and under. This is 42% of the available inventory.

The total number of SFR's for sale in San Francisco is 505. Of these, only a handful are REO's (foreclosures). Even with the inclusion of all property types, there are less than a dozen REO's in San Francisco.

Short sales are a diffent story. We currently have over 80 total short sale listings. (For more information on both REO's and short sales, please visit my website: www.ShortSaleSanFrancisco.com )

There are 66 SFR's (or 13% of the inventory)--mostly in Districts 3 and 10--the southern part of the City; 14 condo/TIC short sale listings--mostly in District 9 (SOMA and South Beach) and four 2-4 unit buildings.

As many short sales are competitively priced, generally 5-10% below market, this represents a good opportunity to buy real estate in San Francisco. Visit either of my websites www.ShortSaleSanFrancisco.com or www.RebeccaRealtor.com to contact me or call me directly at 415-412-1977 for more information.