Foreclosure in Berryessa>Question Details

Angie, Home Buyer in San Jose, CA

Hi I am Angie ,when is the good time to listing the house for sell ? and i like to purchasing other home in San jose area, about $450,000 under?

Asked by Angie, San Jose, CA Fri Dec 7, 2012

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Second, let me address the other part of your question about when is a good time to sell:

As winter rains descend, temperatures slide and thoughts turn to holiday activities, home sales typically cool as well. After all, no one really wants buyers tramping through their homes once they’ve been decorated for the holidays. No one wants to deal with the mess as buyers come out of the rains and drip their way through every nook and cranny. And no one wants lowball offers from buyers who assume that the only reason you’re on the market during the festive season is because you’re desperate.

In fact, we often have sellers pull their listings of the market at the beginning of December and return once the New Year emerges. Many buyers also pull back on home buying plans in December. It’s not convenient to bundle up and head out into the rains to view properties. Parties, gift buying, Christmas concerts and activities of all kinds tend to divert buyer’s attentions until January.

Not so much this year.

In fact, because of the continuing shortage of homes, buyers are still out en masse hoping to score the ultimate gift for Christmas: a home to call their own. I visited an open house over the weekend that was so full it was hard to move around. It reminded me a bit of ants streaming to get indoors once the rains begin. The only thing keeping it from becoming a party was the absence of food and drink. And they kept coming. As I left, cars were jockeying in the rains to drop off buyer wannabes and the line of vehicles extended down the block.

In reality, the only thing holding the market back right now is the extreme shortage of inventory. Prices are NOT seasonally adjusting downward as you’d expect: in reality, multiple offers are forcing prices upward. And those sellers whose homes ARE available are reaping the benefits of a market gone nuts.

In fact, contrary to normal years, this December IS a good time to sell your home. With uncertainties such as the fiscal cliff looming on the horizon, no one knows where the market will be come spring. It’s also possible that sellers, holding back until next year, will flood the market and actually slow it down. Bottom line, no one knows when the current boom will go bust.

In reality, it might be a good idea to cash in now … while you still have the chance.
2 votes Thank Flag Link Fri Dec 7, 2012
There are a couple of things I want to address in your question - first, let me talk about the link you provided for the home on Flickinger Avenue:

If the listing has the logo for RealtyTrac ...

Then what you are seeing is NOT an actual listing … it is an advertisement for RealtyTrac.

RealtyTrac is a provider of data for distressed homes. This data is used by investors and Realtors to track distressed homes. When you see the RealtyTrac logo, you are not looking at a home that is actually available for you to buy: what you are seeing at is either (1) the notice of default for one of the mortgages on the property in question, (2) a notice of an impending trustee sale or (3) a notice of a completed trustee sale.

RealtyTrac notices can be very deceptive because they usually give loan amounts, not the purchase price or fair market value. When and if this particular property hits the market, it will be at market price for the neighborhood.

Bottom line: RealtyTrac is trying to get you to sign up for their service.

The following links may be helpful:

When Is The Price Not The Price?

It’s Too Good To Be True: REALLY – Top 4 Buyer Myths

If you want to know when these or similar properties will actually hit the market, have a Realtor set you up with an auto-feed that will alert you the moment they become active on the MLS.

In reality, if you are using this listing as a basis for what you might be able to get for that price, then you may be in for a letdown.
2 votes Thank Flag Link Fri Dec 7, 2012
Hi Angie,
now is a good time to list your home for sale...
additionally, the property you show above is not listed for sate and is only scheduled for a public foreclosure auction...
give me a call for a free no obligations consultation

good luck!

Flavio Tejada, MBA-Finance, Realtor, Broker/Owner
(415) 305-2958
Web Reference:
1 vote Thank Flag Link Fri Dec 7, 2012
By the way, the link that you provided is to a RealtyTrac ad. It is not an offer to sell that house and certainly not at that price. That company is not a real estate company. It does not sell houses. It does sell information and that is an ad for a subscription to their information service.
1 vote Thank Flag Link Fri Dec 7, 2012
Hi, Angie,

Whenever a question is posted on Trulia that is “when is it a good time to sell and when is a good time to buy?” there are always lots of responses. Why? Because we would all like your business!

Is this a good time to sell? Absolutely! Inventory is low. If your house is realistically priced it will sell strongly in today’s market. Strongly means that you will probably have to look at multiple offers and accept an offer for more that you expect. That is good but you need to start with realistic expectations. Buyers know when a house is overpriced and overpriced houses do not sell strongly.

Is it a good time to buy? Yes! All of the buyers who are making the multiple offers that are prevalent in today’s market must agree with me. With record low interest rates and prices that have fallen dramatically from the bubble heights, this is a great time to buy the house that will be yours for the future. The only problem is that you will be competing with other motivated buyers to buy any property that you find appealing.

Select a Realtor. Put your house on the market. Sell it! Get into the strongest position possible to buy your replacement house. Identify the new house. Write the strongest offer possible. Be prepared to be rejected – maybe more than one – until you are successful in getting your new home.

Good luck!
1 vote Thank Flag Link Fri Dec 7, 2012
To reinforce what the other agent have stated, yes, it is a very strong seller's market.

The questions I have for you are:
How much equity do you have in your current home?
What is the reason to sell?
What is your reason to buy?
Where do you want to buy?
Can you buy without selling your current home?
Will you need a loan?
Have you meet with a lender?

Those are just a handful of questions which I would ask and need answered before I could advise you on your specific situation.

Have an amazing day!
Web Reference:
1 vote Thank Flag Link Fri Dec 7, 2012
Thank you for your question Angie::

You have received some very good responses.

As pointed out by Carl Medford and Allyson Alessandrini, the property that you asked about is not a listing for a property that is actually for sale, it is a posting by Realty Trac for a property where the homeowners are late on their mortgage payments, and may be headed for foreclosure, if the owners cannot reach an arrangement that is satisfactory to the mortgage holder on their home. .

The amount on the post by Realty Trac is usually the loan amount of one of the liens against the property and is usually the minimum amount of the bid, if this property were to be sold at a foreclosure auction on the courthouse steps.

However those properties are sold all cash, with absolutely no refunds, absoluteloy no opportunities for inspections, or any other contingencies, no guarantee of good title and no guarantees that there are not other liens, such as tax liens that are not wiped out by the foreclosure process.

The amount, $482,037, is not what the property will sell for, it is merely the loan amount of one of the loans against the property, and is probably the minimum amount that the lienholder will accept.

In this market, I would expect to have to pay approximately $550,000 to $600,000 for a property of this size, and age in good condition in this location.

With respect to when is a good time to sell: Right now, in san Jose, we have a very active seller's market with very low inventory, multiple offers with overbids over the list price and overbids over what the recent closed comparable sales show. Now is a very good time to sell Real Estate because we have a seller's market with high demand for Real Estate and a very low inventory of Real Estate.

However, now is a difficult time to buy Real Estate in San Jose, precisely because it is a seller's market.

In the case where you want to sell your current home and buy another in this area, you receive the benefit of the seller's market when you sell, but you are at the same disadvantage as all of the other buyers when you want to buy your next home.

Ideally, if you can buy without selling your current home first, that is often your best strategy. That way you have bought the home and you know what the price is.

However if you cannot buy until you sell your current home, you are left with the uncertainty of what the price you will have to pay to get your next home. Although having your current home sold and closed escrow, with your money in hand that gives you the most bargaining power on the purchase of your next home.

Another possibility is to make an offer to purchase a home, with a contingency on the sale of your current home. However in a seller's market like the one that we have now, most sellers will prefer to take an offer with no contingencies, over an offer that is contingent on the sale of your home. In this seller's market in the San Jose Area, it is vary unlikely that you will be able to get an offer accepted, where your offer is contingent on the sale of your present home.

I recommend that you sit down with the REALTOR that you have selected to represent your interests and spend several hours discussing the possibilities and the limitations of our current housing market in San Jose.

Thank you,
Charles Butterfield MBA
Real Estate Broker/REALTOR
American Realty
Cell Phone: (408)509-6218
Fax: (408)269-3597
Email Address:
1 vote Thank Flag Link Fri Dec 7, 2012
Hi Angie,
Normally I would say in the spring is a good time to list your home, but with inventory so low, it would be a great time right now. As far as purchasing another home; the one you showed is actually not for sale and will NOT be sold at the price shown. Do not be fooled by Realtytrac as that property is being auctioned at the county steps and that price shown is only the price of the foreclosing loan.
At your price range it's not undoable, but it will be difficult and you will be out bid in the good school districts.
If you need assistance or have any specific questions please feel free to contact me.
At your service,
Certified Distressed Property Expert
1 vote Thank Flag Link Fri Dec 7, 2012
Every area is different, Here in Virginia Beach we need more inventory so it would be a great time to list. The next 2 weeks everywhere will likely be slow. But it also takes a week or 2 for me to get the marketing running in full force. My suggestion is get it listed (interest rates have changed the off season schedule)
0 votes Thank Flag Link Thu Dec 13, 2012
December is know to be a slow month in Real Estate.The advantage though is there are few but serious buyers who might be looking to close quickly.
0 votes Thank Flag Link Thu Dec 13, 2012
Hi Angie,

If you look at San Jose real estate statistics you will see that price doesn't track the season of the year. The number of homes for sale and sold is much higher in the spring than at the end of the year. So if you are thinking of buying and selling at the same time, you will probably find it easier to find a home you like in the spring and that might be a better time for you to sell. Please keep in mind that it takes time to get a home ready to sell. Don't wait until the middle of spring to talk to a real estate agent.

Even if you don't feel like you need to sell and buy at the same time, doing so helps protect you against price changes. If prices go up, you will have to pay more for your new home but you will get more money for your old home. Similary if prices go down, you will get less money for your old home but you will pay less for your new home.

Juliana Lee, MBA LLB
Cell: 650-857-1000
Top 3 agent nationwide at Keller Williams Realty

Over 20 years experience
Over 1000 home sales completed in Santa Clara and San Mateo counties
Web Reference:
0 votes Thank Flag Link Sun Dec 9, 2012
Hi Angie,

When to sell depends on what your particular situation is.

As an example, If you were moving down in price, from say $1M to $500K, and the market is predicted to go up 20% in the next year then it is best not to sell for at least a year. Why, because your $1M home will go up in value $200K in that year while the $500K home will only appreciate $100K.

If the opposite was true, and you were moving up in price, then it is better to sell now for the exact same reason.

If you were buying a like price home, say $450K to $450K, then anytime is the best time to sell as your current home and the possible new home will appreciate at the same pace.

I am an agent, but I am a homeowner first. I have purchased homes in California, Hawaii, and Portugal. Let's talk Real Estate. Let me know if I can be of any help.
0 votes Thank Flag Link Fri Dec 7, 2012
Hello Angie, this would of course depend on what your wants and needs are. This particular market has a double edged sword so to speak in your instance as home prices are on the rise from low inventory and record low interest rates and the double edged sword meaning although you can realize more equity in selling of your home as time passes, this also applies to the home your anticipating buying. If you can realize enough from the sale of your current home right now, Great, list and sell now and buy now. Although, It is more than likely not possible in today’s market to get a seller of a potential home of your interest to accept a contingent offer of the selling of your home so there are limited options to facilitate any time of concurrent time frames of the selling and buying of another home of your choice and you moving only once.

Most agents will speak of rent back and selling and renting a place and storage then shop for a home etc. BUT, Then there is another option that you may consider as well. Depending on the reasons you want to sell and buy another home and if you can realize enough equity, you may consider the renting out of your current home until you can realize more equity in the near or far future to decide to sell. You may qualify for CHF Access half percent down payment program with a minimum 580 fico score and which can also contribute towards your closing costs as well. This program allows you to rent out your current home and buy another as long as you qualify. Since you may not receive large sums from the renting of your current home this program can assist you in the purchase of another home while owning and renting out your current home. You will have to have a signed rental/lease of your home and a rental deposit from the soon to be tenant as one of the conditions to qualify. You may qualify yourself with a few dozen questions to see if this is a viable option for you. Rents have went up as well as home prices which will benefit you and a rent survey will quickly show what rent you could realize to cover your mortgage payment. Now with a rental contract, rental deposit and a pre-approval letter or DU Approval, you can begin shopping for a home of your choice at today’s low home prices and record low interest rates.
The rents in San Jose are from $1,450 for 3bd 1ba 900sf blt 1950 up to $5,900 3bd 3ba 2,000sf blt 1977.
The CHF Access half percent down payment program with a minimum 580 fico score is up to $417k and then up to $729,750 requires a minimum 600 fico to qualify. You can buy another home with minimum out of pocket expenses. This program is for low to moderate income families and there are income limits not to exceed to qualify. CHF Access maximum income limits This program will allow you as soon as you have a renter to then get out shopping for a home of your choice and move out from your current home into your purchase once within a 30 day escrow.

The loan program to fit you the best financially is going to be determined by your debt to income qualifying ratios, what your fico scores are and how much you want or have to invest into the down payment and closing costs.
Here is a breakdown of loan programs down payments and payments with a minimum 700 fico at $400k (because I already figured this at 400k) to give you an idea of the down payment and principal, interest, taxes and insurance PITI payment.

Loan 400k with CHF ACCESS $2,000 down 3.75% 30 yr FHA fixed rate $2,814.08 PITI
Loan 400k FHA 3.5% down $14,000 down 3.25% 30 yr FHA fixed rate $2,648.04 PITI
Loan 400k Conv 3% down $12,000 down 4% 30yr Conv fixed rate $2,744.71 PITI
Loan 400k Conv 5% down $20,000 down 3.75% 30 yr Conv fixed rate $2,632.18 PITI
Loan 400k Conv 20% down $80,000 down 3.75% 30 yr Conv fixed rate $2,018.64 PITI

Here is a link to a flyer and links to maximum income limits and a needs list to gather for processing a loan approval.
Sheryl Arndt, Real Estate Broker – Sr. Loan Officer CA only
REO & Short Sale Specialist
20+ Years Experience
DRE# 01140252
NMLS# 297251
0 votes Thank Flag Link Fri Dec 7, 2012
Good time to sell is now. The inventories are lowest in years and the interest rates are at record all-time lows. I hope it is right time for you too.
Web Reference:
0 votes Thank Flag Link Fri Dec 7, 2012
Dear Angie,

I would say any time is good time to listing your house for sell as long as your house can be sold high value and best deal. Especially, at this stage, the house market value trend is getting increased about 7-10% in Bay Area since beginning of this year and mortgage rate is still low to attract many buyers.

There are many issues to sell or buy a house so you may set up an interview with agent to discuss how to sell your home. Let me know if you would like to have a CMA report or tips for selling your home. I am more than happy to help.

Best regards,

Debra Tsai Realty – Meeting Your Real Estate Needs
Debra Tsai, Broker
Short Sale Specialist
Certified Broker Price Opinion Resource
Tel: 408-966-0088
DRE #: 01332243
0 votes Thank Flag Link Fri Dec 7, 2012
Hi Angie,

Yes Angie, the real estate market is super hot. Several reasons for the hot market are extremely low housing availablty, all time low interest rates, great oppotunitly for investors to take advantage of the market, ideal time to for first time home owners. Currently listing agent are recieving multiple offers with offers exceeding the purchase price. The key to recieving multiple offers is to price your home fairly. Do your inspections and do any repairs if "possible" that will give you the biggest return.

So to answer you question, It a great time to sell your home.

On the flip side when buying a home its best to get pre-approved first. Keep in mind if your max $450,000 begin your search around $400,000 because of all the competition will drive the price up.

Thank you,
Manny Dena
CSR Realty
0 votes Thank Flag Link Fri Dec 7, 2012
Hi Angie,

At present there is a very low inventory of homes and a lot of buyers in Santa Clara County. This is driving the prices of homes way up, sometimes over $250,000 over asking price in some areas of Santa Clara County. It is certain your home will sell fast in today's real estate situation.

To make sure your home sells fast, at the highest price and with least amount of roadblocks, it is necessary to price your home well, put the property in tip top condition (or not) and make sure it shows well. I can help you make sure all the above happens. I do BPO's, being an REO agent. A BPO is a great way to value property as it's search criteria is very tight and gives accurate valuations of properties.

In purchasing a home you need to be approved for a loan (I can help you with that), value the home with a BPO (again I can help you with that) and know the sale statistics of the homes in the area (whether homes are going over asking price and for how much - again I can help you with that). This way you can submit a very informed and intelligent offer

Give me a call (408-316-0793) or shoot me an email ( so we can get started in purchasing the home you want and selling the home you have.

0 votes Thank Flag Link Fri Dec 7, 2012
Hi Angie,

Low inventory levels and high demand for properties price to sell makes this the best time to sell. It's the purchasing of another home that could make it interesting. It's about what you intent to buy more than anything. We have several REOs coming up that could probably be a good purchase.

For additional information send me an email or call me.

Jose Romero
Plaza Real Estate
Happy Holidays!
0 votes Thank Flag Link Fri Dec 7, 2012
Hi Angie,
Believe it or not, right now is a great time to sell!!
Even though December is historically slower, there are still many active buyers and multiple offers are still the rule of the day!
If your house is ready to role, take advantage of the low inventory and go now!!
If you need help, just let me know.
Linda Baker, Alain Pinel Realtors
0 votes Thank Flag Link Fri Dec 7, 2012
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