Home Buying in 94582>Question Details

Rp, Real Estate Pro in San Ramon, CA

Do you know if more SFH under 650k are coming in 94582?Is there a way we can know before it hits to mls?

Asked by Rp, San Ramon, CA Mon Jun 30, 2008

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There will be an uptick of REO inventory around September according to some research.

650k for a SFH in Windemere will not be difficult to find. Don't let realtors influence you into thinking that you must get them before they hit the MLS or that we will never find those prices.

They are coming. Why exactly? Foreclosures in Windemere continue to climb as demand is terrible and because of those dreaded Alt-A loans (how else can so many families afford 1.3M homes at the peak? Because of the low monthly payment that does not stay low forever).

And don't get those Alt-A loans confused with subprime. Subprime is for cheap homes and people with bad credit like in Stockton. In places like Windemere, you get people with good credit but must choose stated income and the negative-am monthly option in order to afford the 1.3M home. Sub-prime may be almost over, but Alt-A is the next nightmare.

Finding 650k SFH's will not be the problem. Making sure you can afford the 20% or greater down payment, and getting the loan will be the problem.
1 vote Thank Flag Link Mon Jun 30, 2008
Hello Rp,

As many of the agents have already mentioned, there is not really any way to know for sure if there will be homes for that price range in the future. I would suggest that you work closely with an agent who will be able to provide you information regarding properties on the market and any potenitally coming to the market soon.

Good luck in your search!

Lisa Cartolano
Alain Pinel Realtors
0 votes Thank Flag Link Tue Jul 1, 2008
Like the others have said, there really is no assured way to receive information about any home before it hits the MLS. You can drive around, and see the sign and call on it if you are focusing on a particular neighborhood or builder, or get emails sent with the "immediate" option (I have some clients who do this via my website). Almost as soon as the inputting agent presses "save", an email about the property, regardless of listing comapny, goes into my client's email. Then they call me, we go see it, and they can be among the first to offer if they so choose. Good luck!
0 votes Thank Flag Link Tue Jul 1, 2008
You can be sure that more homes will come on the market in this price range as a result of continued foreclosures. Your best bet for getting there first is to hook up with a well connected and experienced agent. This is one market when someone with established connections is going to really pay off for you. ou need to get there before it hits the MLS if you want a shot at the best deals.
0 votes Thank Flag Link Mon Jun 30, 2008
No you won't unless you have an agent that could have a pocket listing keep asking never know.
0 votes Thank Flag Link Mon Jun 30, 2008
There are definately more homes coming on under $650k but to get them before they hit the MLS on a consistent basis would be pretty close to impossible. Within Alain Pinel we usually send out corporate wide emails to notify all agents in our offices of upcoming great deals, but it is not common practice. The best way to do it is to set up a property minder alert system that will notify you and your agent the minute one hits the market and then working with an agent that is ready to move quickly and you must be ready to move just as fast. I would be happy to help you set up such a notification system and even talk about what kind of approach we could take together to accomplish your goals (ajcohen@apr.com or 925.819.2747)
I hope that helps,
AJ Cohen

0 votes Thank Flag Link Mon Jun 30, 2008
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