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- 11 Answers
- 1 Best Answer
- 10 First Answers
- 8 Useful Answers
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About Me
Pete Sabine is a full-time Real Estate Consultant specializing in residential property sales since 1985. Pete brings together an extensive background in sales, marketing, negotiation, relocation and investments with buying and selling strategies focused on delivering quality services, expertise and innovative solutions for his clients.
Over the course of his real estate career, Pete has successfully completed more than 580 real estate transactions in Contra Costa County. Following an advanced study in listing, selling, investment and taxes, Pete earned his designation as a Certified Residential Specialist. He is a graduate of the Realtors Institute of California, a member of the Contra Costa Association of Realtors©, the California Association of Realtors©, the National Association of Realtors© and the Residential Sales Council.
Pete is a consistent top producing real estate broker with J. Rockcliff Realtors in Lafayette. Pete is the co-author of the book "Get The Best Deal When Selling Your Home, San Francisco Bay Area edition".
Pete and his team are focused on delivering a new industry standard of quality services, depth of expertise and innovative solutions. Members of his team are passionate about empowering their clients to achieve their desired results.
Pete has resided in many Contra Costa County cities since 1963, including Pleasant Hill, Walnut Creek, Lafayette, Orinda, Martinez and Concord. Prior to becoming a successful Real Estate Consultant, Pete was a general contractor specializing in residential construction in various Contra Costa County communities.
Over the years, Pete has actively supported the community as a volunteer with the Contra Costa Consolidated Fire District, The Contra Costa Food Bank, The Neighborhood Watch Protection Program, The Lindsay Wildlife Museum and The Blackhawk Automobile Museum. When Pete isn’t busy with his real estate career, he enjoys hiking and fishing at his cabin in the Mount Lassen area and boating on Lake Almanor. Pete also likes to spend time touring Northern California on his motorcycle.
Over the course of his real estate career, Pete has successfully completed more than 580 real estate transactions in Contra Costa County. Following an advanced study in listing, selling, investment and taxes, Pete earned his designation as a Certified Residential Specialist. He is a graduate of the Realtors Institute of California, a member of the Contra Costa Association of Realtors©, the California Association of Realtors©, the National Association of Realtors© and the Residential Sales Council.
Pete is a consistent top producing real estate broker with J. Rockcliff Realtors in Lafayette. Pete is the co-author of the book "Get The Best Deal When Selling Your Home, San Francisco Bay Area edition".
Pete and his team are focused on delivering a new industry standard of quality services, depth of expertise and innovative solutions. Members of his team are passionate about empowering their clients to achieve their desired results.
Pete has resided in many Contra Costa County cities since 1963, including Pleasant Hill, Walnut Creek, Lafayette, Orinda, Martinez and Concord. Prior to becoming a successful Real Estate Consultant, Pete was a general contractor specializing in residential construction in various Contra Costa County communities.
Over the years, Pete has actively supported the community as a volunteer with the Contra Costa Consolidated Fire District, The Contra Costa Food Bank, The Neighborhood Watch Protection Program, The Lindsay Wildlife Museum and The Blackhawk Automobile Museum. When Pete isn’t busy with his real estate career, he enjoys hiking and fishing at his cabin in the Mount Lassen area and boating on Lake Almanor. Pete also likes to spend time touring Northern California on his motorcycle.
Testimonials
""...selling a home is stressful."
Pete kept me calm and optimistic..." Pete explained the advantages and disadvantages of each offer very clearly, guided me with his experience (regarding financing) and yet, never pushed me one way or another. Pete is especially good at follow-up and keeping me apprised of changes...Selling a home is stressful. Pete kept me calm and optimistic."
Karin Sanford. Pleasant Hill Tue Apr 24, 2007
Karin Sanford. Pleasant Hill Tue Apr 24, 2007
""...our home was only on the market for one day..."
The most important trait is trust. Pete was great. I feel he supported us and represented us well. He came up with a price and gave us a lot of information from history on other homes. Everything went well (and) our home was only on the market for one day."
Richard & Annette Emerson. Orinda Sat Oct 15, 2005
Richard & Annette Emerson. Orinda Sat Oct 15, 2005
""...anytime I needed something, it was provided..." Everything went according to the plan that Pete and the Team had developed for us. Anytime I needed something, it was provided. Timing was very important to us since we were buying and selling a house. Pete did everything to make sure that the closes of escrow were close together. Low and behold, there was a 10-day difference in timing!"
Ed & Maria Villanueva. Pleasant Hill Tue Jul 26, 2005
Ed & Maria Villanueva. Pleasant Hill Tue Jul 26, 2005
""...the smoothest real estate experience..."
We've had a number of previous experiences where it appeared the agent was working in his or her own best interest rather than ours-Pete was not one of those agents. Pete has the ability to negotiate a solid deal that won't fall apart. It was the smoothest real estate experience."
Mike & Melanie Brent. Lafayette Fri Feb 13, 2004
Mike & Melanie Brent. Lafayette Fri Feb 13, 2004
""...exceeded my expectations..."
Personalized service and attention to detail were important to me. Pete and his team exceeded my expectations. Pete made sure that I looked at things from different perspectives to understand the ramification of each decision."
Brian Dulac. Walnut Creek Fri Jun 2, 2006
Brian Dulac. Walnut Creek Fri Jun 2, 2006
""...someone who listened, and therefore understood my needs..."
Everyone on the team was great! Follow through, explanation of all the reams of paperwork, phone calls, etc...(Pete) helped me find a home I love, he answered my questions, and took the time to represent me on additional on-site viewings. I wanted someone who listened, and therefore understood my needs. Pete did that!"
Collette Means. Martinez Sun Apr 18, 2004
Collette Means. Martinez Sun Apr 18, 2004
My Q&A
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Pete Sabine's Questions (0)
Pete Sabine's Answers (11)
Pete Sabine answered:
A 1031 Tax-deferred exchange is a powerful way to build wealth through real estate.
You can sell investment property and transfer all the gain to another, larger investment property or several other properties and defer the capital gain taxes due on a straight sale.
If the property is held as investment property and is exchanged into property that is like that which was sold, this is called “like-kind”. Prior to the closing of the sale of the old relinquished property, the seller must enter into an exchange agreement with a qualified intermediary or accommodator.
The accommodator structures the exchange transaction to meet IRS code requirements.
Make sure the accommodator is an unrelated party, is not anyone close to you and is properly insured and bonded.
The three basic IRS exchange guidelines are:
1. The purchase price of the replacement property must be equal or greater than the sold property.
2. The debt on the replacement property cannot be less than the debt on the sold property
3. You must use the entire net sale proceeds from the sold property to acquire the replacement property.
There are strict time-frame requirements. You must identify the replacement property within 45 days of close of escrow of the relinquished property and you must close escrow no later than 180 days from the closing date of the relinquished property.
There are many other rules and details to consider in a tax- deferred exchange in addition to these basic rules.
Read the entire Chapter 9 of the book “Get the Best Deal When Selling Your Home” to find out how to qualify for a tax-deferred exchange.
You can sell investment property and transfer all the gain to another, larger investment property or several other properties and defer the capital gain taxes due on a straight sale.
If the property is held as investment property and is exchanged into property that is like that which was sold, this is called “like-kind”. Prior to the closing of the sale of the old relinquished property, the seller must enter into an exchange agreement with a qualified intermediary or accommodator.
The accommodator structures the exchange transaction to meet IRS code requirements.
Make sure the accommodator is an unrelated party, is not anyone close to you and is properly insured and bonded.
The three basic IRS exchange guidelines are:
1. The purchase price of the replacement property must be equal or greater than the sold property.
2. The debt on the replacement property cannot be less than the debt on the sold property
3. You must use the entire net sale proceeds from the sold property to acquire the replacement property.
There are strict time-frame requirements. You must identify the replacement property within 45 days of close of escrow of the relinquished property and you must close escrow no later than 180 days from the closing date of the relinquished property.
There are many other rules and details to consider in a tax- deferred exchange in addition to these basic rules.
Read the entire Chapter 9 of the book “Get the Best Deal When Selling Your Home” to find out how to qualify for a tax-deferred exchange.
Pete Sabine answered:
If there is financing involved, I recommend that the buyer deliver an acceptable loan pre-approval letter to the seller at the time the offer is presented or within seven days of acceptance.
Make sure you have the right to cancel the sale and contract without liability in the event the buyer fails to qualify for the loan within a reasonable period of time- usually two or three weeks from acceptance.
Be cautious about offers that are contingent upon the sale and/or close of escrow of another property.
If the buyer’s property is already in escrow, demand to receive a copy of the purchase contract and escrow information prior to accepting their offer.
If the sale is not “seasoned” with contingencies satisfied, you are assuming a high risk position.
Even more risky are offers contingent upon your buyer finding a buyer for their property. You have no control or access to critical information for the sale of this property.
There are key contract clauses that can be incorporated into your contract to give you more control and the ability to cut loose your buyer if they can’t sell their home in a reasonable period of time.
Make sure you have the right to cancel the sale and contract without liability in the event the buyer fails to qualify for the loan within a reasonable period of time- usually two or three weeks from acceptance.
Be cautious about offers that are contingent upon the sale and/or close of escrow of another property.
If the buyer’s property is already in escrow, demand to receive a copy of the purchase contract and escrow information prior to accepting their offer.
If the sale is not “seasoned” with contingencies satisfied, you are assuming a high risk position.
Even more risky are offers contingent upon your buyer finding a buyer for their property. You have no control or access to critical information for the sale of this property.
There are key contract clauses that can be incorporated into your contract to give you more control and the ability to cut loose your buyer if they can’t sell their home in a reasonable period of time.
Pete Sabine answered:
There is a huge difference in a loan pre-qualification letter and a complete loan pre-approval.
Loan pre-qualification is nothing more than taking a loan application, checking a buyer’s credit report and debt-to-income ratios to match loan program qualifying criteria.
A loan pre-approval is achieved when the buyer’s complete loan package with all required supporting documentation is submitted to a bank underwriter for conditional approval. The conditional approval may only require a satisfactory property appraisal and acceptable title report and insurance to complete the loan processing.
Tip-
“Pre-approval” is a misused term and often overstated by Realtors and mortgage brokers. A true loan pre-approval will have an expiration date and a list of any remaining funding conditions yet to be satisfied.
Loan pre-qualification is nothing more than taking a loan application, checking a buyer’s credit report and debt-to-income ratios to match loan program qualifying criteria.
A loan pre-approval is achieved when the buyer’s complete loan package with all required supporting documentation is submitted to a bank underwriter for conditional approval. The conditional approval may only require a satisfactory property appraisal and acceptable title report and insurance to complete the loan processing.
Tip-
“Pre-approval” is a misused term and often overstated by Realtors and mortgage brokers. A true loan pre-approval will have an expiration date and a list of any remaining funding conditions yet to be satisfied.
Pete Sabine answered:
The adage “knowledge is power” certainly applies to buying or selling real estate.
I always recommend a pro-active approach in selling real estate by obtaining as much information about the condition of the property prior to offering the property for sale.
This information will empower the seller and their agent to form a marketing and pricing strategy based on the condition of the property.
Sometimes it’s better for both the seller and buyer to agree upon an “as-is” sale with a price or credit concession from the seller in lieu of repairs to the property.
The pre-sale inspection reports provide both parties with the information needed to draft a purchase contract that meets the mutual needs of each party and can greatly reduce the need to renegotiate the contract for unexpected repairs that are discovered during the escrow period.
I always recommend a pro-active approach in selling real estate by obtaining as much information about the condition of the property prior to offering the property for sale.
This information will empower the seller and their agent to form a marketing and pricing strategy based on the condition of the property.
Sometimes it’s better for both the seller and buyer to agree upon an “as-is” sale with a price or credit concession from the seller in lieu of repairs to the property.
The pre-sale inspection reports provide both parties with the information needed to draft a purchase contract that meets the mutual needs of each party and can greatly reduce the need to renegotiate the contract for unexpected repairs that are discovered during the escrow period.
Pete Sabine answered:
Beware of some agents who will “buy” your listing by recommending a list price that is significantly higher than other agents competing for the listing.
Realtors use the same source for real estate sales data to determine the range of fair market value for a property. If you interview three or more seasoned agents who are familiar with local real estate values and market conditions, there should not be a wide variation of recommended list prices between them.
Realtors use the same source for real estate sales data to determine the range of fair market value for a property. If you interview three or more seasoned agents who are familiar with local real estate values and market conditions, there should not be a wide variation of recommended list prices between them.
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