Home Buying in Moraga>Question Details

Ejg001, Home Buyer in Moraga, CA

I've been having difficulty about getting any info about 2045 Ascot Drive unit B. Any help would be greatly appreciated.?

Asked by Ejg001, Moraga, CA Fri Jan 15, 2010

Help the community by answering this question:

Answers

4
BEST ANSWER
Not sure why Greg wasn't a little more detailed. It is a short sale and the MLS listing says "no more offers".

The smart way to buy a home is to 1) get prequalified for a mortgage (so you don't fall in love with a home you can't afford) and 2) get a Realtor you just love to work with (who loves to work with you). Remember there's no cost to you as a buyer because the seller pays the commission for both listing and buyer's agents. So there's really no reason to try to shop for a home without one.

If you're "just shopping" Trulia can help some, but the best way is to hook up with a Realtor who can send you emails every time a listing comes up that meets your criteria for size, location, budget and more.

I'm happy to help you if you like. So are many others.
0 votes Thank Flag Link Fri Jan 15, 2010
The information about the unit is correct, relative to size, last time sold. etc. It is a short sale and waiting for lender approval. This asking price was far below value and depending upon the price that was negotiated, it may take the lender some time to approve the short sale. I have learned that the greater the amount the lender has to lose on their loan, the longer the approval takes from the lender. Some lenders are fairly paralized when processing the short sale requests. They will even retain consultants or negotiators to recommend a price...I think so the lender or people working for the lender can avoid bottom line responsibility for approving a big money loser for the lender. I recently had a short sale in San Ramon that we pulled away from after 5 months. It was a poorly orchestrated process, and the loan balance was over $200,000, above the short sale price, which supports my theory.
0 votes Thank Flag Link Mon May 10, 2010
Hi,

Although this is still showing as "active" on the MLS, the instructions from the listing agent also says "no more offers". Presumably they are now in the process of reviewing the offers they receive before selecting the one(s) the will send to the short sale lender for approval.

This last sold for $345K in 2004. The owner has more than one loan on it (one from a mortgage company, another from the credit union).

The last recorded transfer of ownership in this complex was or a 1 bedroom/1 bbath unit, 713 sq ft for $125K. The last 2 bedroom/2 bath uit (945 sq ft) that had a change in ownership was recorde in November 2009 for $250K.

Hope that this is enough information at this time.

Whatever you plan to do, I wish you good luck! Let me or the others know what else you need.

And....if you haven't engaged a realtor to help you with your search, perhaps the detail of information you have received will help illustrate the value of a good, experienced and knowledgeable realtor. Why don't you have one to help you?
0 votes Thank Flag Link Fri Jan 15, 2010
Hello Ejg001,

I have all the information on this property. Is there anything in particular you would like to know. It's a 2 bedroom 1 bath Condo built in 1974. Five condos in the the complex and is 928 square feet. It seems to be a short sale. I'm an agent with J. Rockcliff Realtors in Lafayette and if you have any additional questions feel free to contact me I would love to help. http://www.delacruzhomes.com
0 votes Thank Flag Link Fri Jan 15, 2010
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer