Home Buying in Antelope>Question Details

Liz, Home Buyer in Hayward, CA

Can someone tell me if the homes for sale below 200000 in the Elverta, Antelope area are showing realistic?

Asked by Liz, Hayward, CA Sun Jul 26, 2009

closing prices and if so if buyers with conventional loans have much of a chance?

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I would say there are plenty of realistic options in that price range. I see this was asked in 2009, and can tell you home prices have decreased to even more reasonable prices over the previous year.
Web Reference: http://www.teamhybridre.com
0 votes Thank Flag Link Sat Sep 3, 2011
I live in Antelope, and have sold several homes in both Antelope and Elverta. $200000 is a good mark for properties in both cities, but there are first time smaller homes in the $150000 range easy. If you could tell me what you are looking for in a home, school district, and other amenities, I am confident I could find you the right home for you. I see that you live in Hayward, I am from the Bay Area myself and lived in Fremont the first 28 years of my life, and my parents and many friends still call the area home. Please let me know what your needs are and I will do my best to address each of them and find you the perfect home.
0 votes Thank Flag Link Thu Feb 4, 2010
Sue Archer wrote: "One observation that I do have, though, is that short sales tend to sell a little lower. "

This is news. Over the past four years of the downturn, short sales tended to sell higher. This was mainly because the values were still dropping month to month. Even though an REO and a short sale were priced similarly to begin with, by the time the short sales closed six months late, the comparable REO listings were cheaper.

Lots of short sale deals fell out as buyers would switch to the cheaper listings while the bank fidoodled.

Now that prices seem to be flat on the bottom, more of those deals should close.

One advantage occupied short sales have over vacant REO's is that the homeowner or renter often continues to maintain the landscaping.

As to the question on $200K prices in Antelope and Elverta, there are dozens of salable listings in those communities. There are not enough cash buyers around to buy them all, so conventional buyers have a good chance. Just don't try to buy a major fixer. Conventional lenders don't like "contractor's specials". Hard Money lenders love them (at 11%+)
0 votes Thank Flag Link Mon Jul 27, 2009
Jim Walker, Real Estate Pro in Carmichael, CA
MVP'08
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It depends on the home. For every home that meets my client's expectations we run a CMA (comparative market analysis) to see for the specific neighborhood what the values are for that condition and amenities.

Since every home is priced by a different person you can't make a general statement that they're all priced high, low or about right. One observation that I do have, though, is that short sales tend to sell a little lower. I expect it's the offset of having to wait sometimes a long time for a possible approval by the seller's lender. Bank owned properties, being immediately available for a response to your offer, most often have multiple offers and are competitive. That brings their price up.

If you sign on to one of our websites, and set up your own search, you'll start to get a feel of values in areas. Then you will know, without a CMA, if the pricing for a home is running about right. (And if you find one that's pricefd incorrectly, you mihgt be able to slip in and make a realistic offer without competition).
Web Reference: http://www.suearcher.com
0 votes Thank Flag Link Sun Jul 26, 2009
Hi Liz,

Without knowing about a specific property in a specific neighborhood I can't give you an absolute yes. But in general most of these home will close within 5-10% of asking price. A buyer with a conventional loan (someone putting 20% down) would have a better than average chance of buying a home depending on the rest of the terms provided for in the purchase contract. Keep in mind most bank owned homes are price at or below market to generate offers.

I hope this helps and if i can show you any homes in these areas please let me know.

James
Web Reference: http://www.jimblaylock.com
0 votes Thank Flag Link Sun Jul 26, 2009
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