Home Buying in San Ramon>Question Details

Kiki, Home Buyer in San Ramon, CA

There is a condo complex in San Ramon, CA called Reflections Luxury Condominiums. It is located very close to

Asked by Kiki, San Ramon, CA Thu Mar 6, 2008

Bishop Ranch and Market Place. They are going to sell it on an auction on March 15. Starting bids are like 250,000 for 2/2 935 square feet. I have decided to bid but now have a second thought. Any Advice?

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I am curious about what the condos went for as well. I almost dropped $425K on the 2bed/2bath model when they were first being converted. After finding dry-rot in my unit I backed out.

If you bid on one of these places and did not get a private inspection, I suggest doing so immediately.
0 votes Thank Flag Link Tue Mar 18, 2008
Can you give more detail about "sound proofing". Depending on built quality, apartment can be very noisy especially from upper floor.
0 votes Thank Flag Link Fri Mar 7, 2008
Keep in mind these use to be apartments - be wary of the "sound proofing" or lack there of.
0 votes Thank Flag Link Fri Mar 7, 2008
Even though starting bid is 245k, it is possible that there is no bidder for some of the units. I assume here that they are selling multiple units. So, don't be surprised if you can buy right at the minimum bidding price and that may turn out to be a good deal for you.
0 votes Thank Flag Link Thu Mar 6, 2008
Thank you Dr. primer. This means that I should not bid at all, since the starting bid is 250, 000. I also think that no matter what the realtors are saying, this might turn out not to be a good deal, unless you can get ir really at a good price...
0 votes Thank Flag Link Thu Mar 6, 2008
I would not go anything higher than 250k. Remember, it is an Apartment converted Condo. Can not expect much appreciation comparing with townhouse and SFR.
0 votes Thank Flag Link Thu Mar 6, 2008
The Hoa is 245 a month. My concern is how high I should go on bidding. 245,000 is the starting bid but the sell priuce is something unpredictable. I am afraid I may end up paying more than it is really worth

Kiki
0 votes Thank Flag Link Thu Mar 6, 2008
The Reflections were previously apartments. They updated them and have been selling them as condos. They assigned carport parking, no garages. Other properties on the MLS that are for sale that compare to 2/2, 900 - 1200sf start at $350K, so $250K sounds good. Looking at what's rented in the last few months for that size condo is about $1.50sf. Hopefully, you found this information useful and if you need a local realtor to assist you in finding your perfect house please contact me. I have lived in San Ramon since 1987.
Web Reference: http://www.JoanneLiotta.com
0 votes Thank Flag Link Thu Mar 6, 2008
Read the fine print. You usually MUST inspect ahead of time and there is no turning back if you are successful bidder. You may lose your deposit. Also read up on what you have to bring with you. Usually a cashier check and your check book... You have to be pre-approved , sometimes by one of their lenders... just be careful is all I'd say. And be sure you know the local comps and in other complexes so you dont' get wrapped up in the bidding and actually pay more for what you could get a comparable unit for.
Web Reference: http://www.diablovalley.net
0 votes Thank Flag Link Thu Mar 6, 2008
What stop you? How much is rent rate in that area? if it can rent 1600, it shall worth it. BTW, how much is HOA?
0 votes Thank Flag Link Thu Mar 6, 2008
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