Sam, Both Buyer and Seller in Chicago, IL

I have a home in Parkmont Area in Fremont,CA. I am thinking of moving out, is it a good time to sell, or

Asked by Sam, Chicago, IL Tue Jan 29, 2008

should I wait another year or two? Also what does the raising of the conforming limit to 650-720k mean for us sellers?

Help the community by answering this question:


It's obviously a "buyers" market right now. That can change. However, if you don't have a pressing need to sell now, I wouldn't. And that's my honest opinion. Hopefully you have enough equity to make money in either a buyers or sellers market. You can visit my website below for more information about real estate as well as send me your email address for listings in your area that would be your competition if you do decide to sell now. Kind regards.
0 votes Thank Flag Link Tue Jan 29, 2008
you like it, thats why you bought it
keep the house
not a good time to sell a house


good luck
0 votes Thank Flag Link Fri Mar 28, 2008
Hi Sam,

You have had several responses to your question, so you may not be looking for more. I will give you my two cents anyway. You may have rented your house by now.

I am in the Fremont area and I can certainly see that the market is picking up in most areas of Fremont unlike Hayward, Newark and Union City which are still very slow in comparision.

One of my listings in Fremont in the Cabrillo area sold at the first open house within 6 days of being listed with two offers. It was priced at market value. As a matter of fact there were two houses listed on the same street that were priced below my listing.

It is important that you agent price the home correctly, not necessarily the lowest in the area, but looks at the sold homes in the last 2-3 months and of course, the condition and upgrades in the property and prices it accordingly.

You also need to see who can give you good web presence since internet exposure is more important now than ever before.

And last but not the least, make sure the house is in the best condition possible so buyers will without a doubt want to buy your home when compared to all the homes on the market.

We do not know how the market is going to be in the future, and we do not want to rush you into selling by saying now is the best time to sell. All I can say is that things are starting to happen in Fremont and if you are also thinking of buying a house, it may be good for you on that end since you will be able to negotiate a good price there depending on where you are moving to.

I had sellers last year who told me they wanted a certain price for their home in 2007 which was higher than what I had advised or they would wait till 2008 to sell since they felt they were not getting enough. Well, guess what?Their home lost further in value and now I am negotiating a short sale with the bank or it will go into foreclosure.

The conforming rate as well as the Feds rate cuts should help in the market picking up. It is just a matter of time.

If you have any questions or need my help, please contact me.

Meena Gujral
Help-U-Sell Achievers Realty
Ca. 94539
0 votes Thank Flag Link Fri Mar 28, 2008
Conforming loan limits have been raised in Alameda County to $729950. What this means is that (hopefully) a buyer will not have to pay a higher interest rate to get a bigger loan. We'll see how it all rolls out.
0 votes Thank Flag Link Wed Mar 19, 2008
Hi Sam, A few questions for you? When you move how long are you going to stay? Can you refincance your home in Fremont to take out some cash and buy a place where you are moving to?
There are a lot of way you can sell your home now and get good market value. You should always be concerned when someone pushed you. This is not the place for a hard closer. You are not in this to make his quick commission. You should pick representation by someone who thinks more of you than a quick buck. Having investment property is a great idea. If you buy a place were you are going and hold on to this one the value will go back up, its just when will it happen. You get better leverage with your money, good tax write offs. How long will you be staying in your new place? Is it temporary? If you buy a smaill place there you can rent it if you come back. You have options, you are in the drivers seat.
Never listen to scare tactics. JoAnna Jensen
Web Reference:
0 votes Thank Flag Link Tue Mar 18, 2008
Howdy All,
Thanks for quick the responses. I really appreciate all the suggestions and tips. I talked to a few realtors and it seems like the prices have dropped by about $50-80k since mid 2007, and homes are staying longer on the market. Wow!!! I dunno how much of that is true, what do you experts think?
Oh btw i also talked to one area expert realtor and he tried to "push" me very hard to sell now. He also tried to lowball the price, i am guessing he might have a potential buyer client. I guess i will have to follow Andria and Paul's suggestions about not selling my home and maybe rent it out for another year since i need to move out of the area.
0 votes Thank Flag Link Mon Feb 4, 2008
I agree with Andrea Wince, if you don't have to sell your home now I wouldn't. Though noone can be sure if prices have hit rock bottom, most agree that prices will rise sometime in the next couple of years. If you have further questions regarding selling your home, please visit our website below.

Paul Hitchings
Assistant to Sophie Aretta
Web Reference:
0 votes Thank Flag Link Wed Jan 30, 2008
Raising the limit is good!!!!! Many buyers will be getting much lower interest rates and that means you will be able to sell your home more quickly. But, the sale of your home depends on the location, condition, list price as well as the agent you choose.
0 votes Thank Flag Link Tue Jan 29, 2008
Increasement in Conforming loan limit from $417K to $650-720, defenitely will help to more buyers to qualify and will generate multiple offers to get top dollars for the Home if you have plan to move. We are local, feel free to contact 510 219 2845 or
Web Reference:
0 votes Thank Flag Link Tue Jan 29, 2008
Sam: I am IN your area, and there is all sorts of wonderful information that I can share with you. But to answer your question Timing is Everything and YES, although there are over 300 homes for sale in Fremont the counter balance is that rates are low and buyers are in the market looking and putting offers together. Also as you are probably aware the conforming limit is about to increase from $417,000 to possibly as high as $729,000 - this impacts you NOW - if you get ahead of this your are primed to have your house hit at exactly the time when a buyers Power financially is increased. Do not delay, call today. If I can be of any assistance please let me know, or visit my website: - 925 824-4801. Good Luck.
0 votes Thank Flag Link Tue Jan 29, 2008
Your home in Parkmont is a great location as there is always demand due to Parkmont Elementary Schools high ranking. However, the market slowness has resulted in a stagnation scenario with homes that were sold the day of listing at 30K over asking are sitting for couple of months. However, you can expect a quick sale if you price it right. Also, there is a scarcity of newer homes in Parkmont neighborhood and they sell at much quicker relative to older homes.

However, when the confirming loan limits are increased, market should bounce bank in my opinion for certain areas of Fremont. Things are starting to look better and multiple offers and over bidding trends are already starting. This could be surprising for many to hear. Parkmont should return to its normal soon and we should see a dynamic trend. Should you need further help, always ping me.
0 votes Thank Flag Link Tue Jan 29, 2008
I am not from your area, but I am in California. I think from what I have heard your market is probably a buyers market. You should contact a local Realtor that can help you make this inportant decision. The conforming limit being raised could help a new buyer if your home is worth more than $500,000. This would allow them to buy with a conforming loan, a better interest rate than a jumbo loan would be. Click on the link below to see an agents profile from your area. Give Mary Ann Morrara call.
0 votes Thank Flag Link Tue Jan 29, 2008
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