Realty World – Town and Country

Image by TW Collins via Flickr

According to an article recently posted by Andrew Taylor (AP), there is good news about the extension of the First Time Home Buyers Federal Tax Credit. I’m looking forward to more clarity regarding the exact qualifications. I interpret this to refer to clients already in contract by the cut-off date of April 30, 2010, having an extended period of time (September 30, 2010) to close escrow. That is great news for those who have been in contract for months purchasing a short sale property! Comments are welcomed; more news to come.

Most of us have been wondering for over 3 years when we will know we’ve hit the bottom of the market. I’ve written about this before and I still hold to the fact that if we wait to see the bottom, it will be too late and maybe we are already there! Especially if you are a buyer, don’t let that ship sail without you!
Pleasanton Real Estate is my specialty and I particularly pay close attention to Shadow Cliff Homes as I am an original owner and resident of the neighborhood. We have seen some very difficult times and are by no means on our way to smooth sailing, but there is some bright news. The chart below shows history from 2008 through today.

This chart is evidence of one neighborhood in Pleasanton, CA but I can surely tell you, activity and multiple offers are the norm in many parts of Pleasanton. In working with my buyers recently we made an offer on a home priced around $675,000. There were 9 offers on the property after only a few days on the market and shortly thereafter, we offered on a property that came on the market on a Thursday and by Saturday afternoon was already pending and also had multiple offers. Rates are low, inventory is low and sellers are seeing good prices for their homes.
If you’d like this kind of detail on another neighborhood, I’d be happy to provide it.

As both a Pleasanton Realtor and resident of Shadow Cliff homes, here is an update of what is happining in my neighborhood. At this same time period last year, January – April we did not have even one sold property! In my opinion, 2009 was a very good year considering 2008! This update shows that the market has most definitely improved.
Shadow Cliff continues to be a great place to live. If you’d like further details about this report, please don’t hesitate to ask.
Jan – April 2010

Many Real Estate owners in Pleasanton, CA and everywhere in the country are facing difficult decisions regarding what to do with their mortgages.  Some of the more common reasons people are finding themselves in these stressful situations are:
 1.  They were talked into financing 100% of their mortgage due to the “thinking” that within a few years, the market value of their property would increase, thus they could then refinance because they would have instant equity.
 2.  The type of loan the borrower got to purchase or refinance the loan has met it’s short “intro rate” term and has now adjusted to a rate the borrower cannot afford.
 3.  Someone refinanced their home back when “No Doc Loans” were available for, let’s say for the sake of example, a 5-year term. Now the term is up, there is no longer the “No Doc” option and they are stuck without a way to remain in their home.
 And I’m sure the list goes on as to the reasons why many find themselves in this situation. The one thing to know is that You Are Not Alone!!
 What can you do if you find yourself wondering how to move forward?
First, (A) Act upon your situation. Don’t sit around hoping it will get better, burying your head in the sand. That won’t help. You can get through this; many people have gone through it successfully and are beginning the process right now.
Second (B) Believe…find a professional you believe you can trust. ASK for references from their past clients. Make your professional prove to you they know what they are doing. If you hire someone to guide you that doesn’t truly know how to get through a short sale, you’re going to be in deep trouble.
Third, (C) Cooperate. Cooperating with your Real Estate professional makes ALL the difference. How can we do our job if you are not providing the information the bank requires? The process is what it is. And what is that you might ask? It is tedious, time consuming, monotonous, wearisome, and the list goes on. Your professional knows exactly what to expect and how to get through it. They should set your expectation right up front as to the path to a successful end.  This is not a short process and you should expect it to take at least 4-months to a successful close. Once an offer is received and sent to the bank, this process alone can take up to 90-days to get an approval. Once the approval is completed, let your 30-day escrow begin!  That’s the less complicated part.

I have significant experience in the marketing and sales of REO properties. My innovative marketing plans provide exceptional customer service that far out-paces other firms specializing in this market. When you enlist my services, you can expect the following:

Professional, fast and dependable assistance with occupancy checks, CFK’s.
Experienced with occupancy issues; eviction proceedings, tenant’s rights.
Accurate and timely BPO’s to help you determine a list price and repair plan.
Cost effective repair bids from reliable contractors.
Superior project management to ensure that repairs are completed on time

An aggressive marketing plan to give your listings maximum exposure including:
 

Our exclusive partnership with Trulia promotes your listing to 170 additional partner sites!
A complete listing within the MLS with multiple photos, full details of all features, and an informative description.
Advanced features on Realtor.com, Yahoo!, Trulia and more.
Just Listed postcards to area neighbors featuring your REO’s.
Aggressive marketing among local Realtor community.
An attractive lawn sign and interior/exterior marketing flyers.
Streamlined access to property for buyers’ agents through Supra keysafes and combo lockboxes.
Weekly and monthly status reports as needed.

Unique qualities and services I provide:

Immediate response to your needs; occupancy checks, CFK’s, re-keys.
Fast and proficient with Wells/Wachovia internal systems (BPO’s, billing, etc.)
Expert knowledge of Wachovia contract and negotiating leverage.
Webpage created solely for Wells/Wachovia REO’s (online contract and instructions for selling agents.

Count on Thilo Dreuth for your REO needs.