If you are looking to buy in Alameda I am very familiar with the city. I have lived here for 13 years and have been selling here for 6 years. I would say that blanket statement about the market here are not to useful. In Alameda certain neighborhoods and property values have not dropped. If you are looking for a condo or 2-4 unit property the prices have dropped and you can find something worth buying. The other thing to consider is the cost of your loan, right now interest rates are pretty low and with inflation you might see higher rates in the future. If you have any questions about Alameda or real-estate contact me anytime.

Troy

Thu Jun 19 2008, 16:00

All, thanks for the answers. Jessica's seminar sounds interesting, although I'd probably scare everybody away. Cute lemur notwithstanding, I'm a big housing bear and don't think it'll make sense to buy for at least a year if you're lucky. But I'll check out the link and stay in touch!

Fri Apr 11 2008, 17:21

You should also request your broker to rebate a portion of their commission to you. Many REO's pay a buying broker a 3% fee (which is higher than the typical 2.5%). I would say a 25% rebate would be equitable. Therefore, on a $500K purchase your realtor would get 2.25% or $11,250 and you would get $4,750 to assist with closing costs. This is fairly typical in this slow market. Any realtor in California who will tell you that rebating doesn't existing is not being candid.

Best of Luck,
NewportFiji

Fri Apr 11 2008, 15:56

Hi Roger,

It sounds like you are a pretty savvy buyer. I am hosting, along with some of my collegues, a Savvy Homebuyer's Seminar in May. We will be discussing local market trends and why and when it makes sense to buy and what that really means...the seminar will be held in Berkeley and it is free! We would love to have you come and bring all your knowledge and experience to share with the group. If you are interested, you can find out more about it at the link I posted below this message.

Cheers,
Jessica

Fri Apr 11 2008, 15:09

Hi Jessica,

The owner of the REO we were looking at was not interested in discussing a sale, so we dropped it. Prices are still dropping on a weekly basis in Alameda, so we're not in a rush--there are several nice homes on the market that are priced at or below their 2004-2005 prices and they're not selling, so I take that as a confirmation that the market still has a ways to go before it makes sense to buy.

Cheers,
Roger

Thu Apr 10 2008, 15:36

Hey Roger,

Its been a while since you posted this question...I'm curious, did you get the house you were looking to buy? There are so many REO properties in the East Bay right now. Most agents at this point should have worked on at least one REO deal or gone to seminars on how to negotiate with banks. It is unfortunate that so many folks are losing their homes, but it is also a great time to buy for those who can still qualify.

Best of luck to you!

Thu Apr 10 2008, 15:02

Roger....If you are looking for an East bay connection I am your person. I am a native girl born and bred. Checkout my profile and website.

Tue Aug 7 2007, 23:21

I bet he'd say "Wait for the market to soften some more before you buy a house" :)

Wed Aug 1 2007, 16:57

Just checked out your photo link, Roger. Did you notice the pull-string ring on its back just above the tail? If the creature could talk, I wonder what it would say... LOL

Wed Aug 1 2007, 16:52

Hi everyone,
I just found a link to the picture in my profile!! Enjoy.

Wed Aug 1 2007, 16:34

thanks for the thumbs-up reminder. I will look for a full-size picture and send it to you!

Wed Aug 1 2007, 10:26

Roger,
Thanks for the compliment! But, if we all "rock", where are our "thumbs up"? Also, if you don't mind sharing, could you please send me a full size JPEG of your profile photo? It's just sooo cool! Thanks!

Wed Aug 1 2007, 04:07

Roger - I can help. You can contact me through my website and go from there. (I live/work in San Ramon and cover all of the East Bay except for Berkeley.)

Wed Aug 1 2007, 00:43

y'all rock! About my picture: a Norwegian friend found it in a 19th century natural history book. I wish I had the original source!

Tue Jul 31 2007, 18:22

Hey T-Rex (I mean Roger),

Wish I could assist you in CA but the drive from GA and gas costs would be the death of me. Instead, I'd be honored to refer you to an experienced and qualified agent who knows the East Bay area ;-)

Seriously, I believe that CA typically uses title companies, not attorneys, to perform closings. If you have any friends who work at a title company or a real estate attorney, they should be able to order a title report for little to no cost.

Best wishes to you and your wife with your property search and purchase. - Ted

P.S. Where did you get your profile picture?

Tue Jul 31 2007, 15:58

I'd suggest contacting a title company and request a prelminary title report. This report will not only tell you the owner but also will indicate if there are outstanding tax liens, emcumbrances, and outstanding loan balance on the property. If you're interested I can request a report at no cost to you and you and take this to the agent you decide to use. You can contact me at (650)577-5886 if you have specific questions.

Tue Jul 31 2007, 13:41

Should you need a buyer's agent in Arizona.....I'm your man !!

Tue Jul 31 2007, 13:10

Hi, one of my team agents specializes in these types of homes & situations-his name is Bill Whitney and you can contact him at 408.960.4170 or bill_whitney@hotmail.com. He'll take great care of you.

Tue Jul 31 2007, 11:39

Roger,
I've seen some of your posts. You are so nearly an expert, I'm surprised you asked for help! But, bravo to you for recognizing the value of a buyer's agent! I'd be happy to help; but, unfortunately, I am currently only licensed in Florida. Best of luck!

BTW-I love your photo!

Tue Jul 31 2007, 11:01