Realty World - Town and Country

The ABC’s of Short Sales

Rhonda Fee — Wed, 24 Feb 2010 01:17:00 +0000

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.

REO Marketing & Sales

Thilo Dreuth — Fri, 19 Feb 2010 18:58:00 +0000

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.

Pleasanton Foreclosures

Rhonda Fee — Sat, 23 Jan 2010 07:50:00 +0000

Pleasanton, CA Forclosures are on the rise. Over the past several months due to a moratorium on foreclosed properties, these “for sale” properties have been far and few between not only in Pleasanton, but nationwide. We currently have 7-active bank owned/foreclosed properties on the market in Pleasanton and although for many communities this number is extremely low, for Pleasanton, this is on the high end.
At current, there are 7 “active” foreclosed properties available ranging from $334,900 to $2,100,000 located in the Ruby Hill community. The smallest of the 7-available properties was recently used as a business location near downtown.
Based on the pattern of the last 12-months, I suspect these properties will be pending within a matter of days. For homebuyers thinking of purchasing, the best advice to take heed…get pre approved by your lender of choice because in this market, once you fnd the property, acting quickly and wisely with the professional you feel most secure with is your best strategy.

The Shortage Continues

Rhonda Fee — Mon, 04 Jan 2010 23:37:00 +0000

Pleasanton CA, as of January 4, 2010 there are only 116 TOTAL Properties on the market in Pleasanton according to the Multiple Listing Service. This includes Single Family Homes (SFR), Condo and Townhomes! Just before the holidays we had 102 Single Family Homes alone!! Here’s how the market is currently stacking up:

86-Single Family Homes priced from the low of $399,000 up to the high of $8,888,888
15-Condos priced from the low of $170,000 up to the high of $395,000
14-Town Homes from the low of $189,000 up to the high of $468,000

The shortage of homes available on the market continues to be the trend. We are beginning to see a trickling of Bank Owned (aka, REO, Foreclosed) properties come to the market; one being in the Shadow Cliff neighborhood of Pleasanton, located on Whitney Drive.
The First Time Home Buyer Tax Credit is still in affect until April 2010 and FHA loans continue to be accessible allowing for down payment Requirements (as low as 3.5%).
If you’ve been on the fence about selling, this is most definitely a good time to make a move. The market is begging for more properties!
For specific questions or housing information, please feel free to contact me direclty.

Home buyers credit extension

Steve De La Hoya — Sat, 31 Oct 2009 21:25:00 +0000

There is not too much to say other then it looks like Congress will extend the first-time homebuyers’ tax credit.
The vote is expected next week. The credit will give people who buy a home $8,000 and lawmaker say this will be the last extension.
“Tax credits like this only work by creating the sense of urgency to take advantage of them and to bring the market back. So the American people and the homebuyers of the United States and the potential home sellers have an opportunity in the next seven months to take advantage of a once in a lifetime credit.”
The House and Senate both have to approve the extension before President Obama can sign it into law. Make sure you dont miss the boat!