Home Buying in 94565>Question Details

Whiteswan, Home Buyer in Walnut Creek, CA

We are looking to buy rental property in the pittsburg area for under $200,000. How long does it normally take to get a bid accepted ?

Asked by Whiteswan, Walnut Creek, CA Fri Jul 20, 2012

How is the Pittsburg area for investment vs Fairfield or Vacaville?

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Answers

5
You sould be asking your Realtor he or she will be able to give you the best answer depending upon the situation. If you are not using a Realtor you should get one to represent you in the purchase process.

Best wishes!
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1 vote Thank Flag Link Sat Jul 21, 2012
It depends on the type of sale and how strong your buying position is. There are many factors. Homes in that price are in high demand right now with prices going up. But that is because there is value in those homes.
The biggest part of my business is working with investors in that area.
If you tell me more about your goals and your financing I could help you out with some more specific advice.
The link below is to order our Free Real Estate Investing Book that explains many concepts about investing in a readable manner. You can also search homes at the site.
1 vote Thank Flag Link Fri Jul 20, 2012
That all depends on if the sale is a short sale or a foreclosure. I am assuming that this is an REO as you used the word bid. Due to the increase in offer activity on homes, most listings will post a date that offers are due by. At which point the agent will communicate all the offers to the asset manager that is representing the bank. The bank may ask everyone to come back with their "highest and best" offer or they may just accept an offer. I would say that getting a response in 24-48 business hours after the offer is presented to the asset manager is a fair estimate.

Investing in Pittsburg has the benefit of location for workers. The commute for people is eased a little due to the bart station and highway expansion to Railroad. Also the city has done and continues to complete major improvement projects to the city to enhance the value of properties. The Old Town/downtown area is a great example. There are also two new schools under construction as well.

What area of Pittsburg have you looked for homes?
1 vote Thank Flag Link Fri Jul 20, 2012
It depends if it is a "Short Sale", REO (bank owned) or a regular sell.

In this market we are getting multiple offers. If it is a "Short Sale" it is up to the Seller to choose and offer. The agent will set a time to present offers to the seller. This time is set by the agent and the seller. If it is an REO the agent will collect offers and present to the bank at the time set by the bank. The Bank will choose the offer. If it is a regular sale the Agent and Seller will decide when
to present the offers. At which time the seller will choose the buyer.

If you have anymore questions, please give me a call.
0 votes Thank Flag Link Thu Dec 27, 2012
Pittsburg is a great location because of the access to BART.
0 votes Thank Flag Link Thu Dec 27, 2012
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