Michael Roberts

Hi Todd, The short answer is yes. However, I would refer to your lease agreement to see if their maybe a clause that releases you pursuant to foreclosure proceedings. Sounds tough, I know, You are renting the home and the the homeowners financial troubles don't relieve you of your obligation to pay rent while you reside there. There are a number of ambiguities others will likely post subsequent to my post.

If you are certain the foreclosure proceedings are in effect, you may well be offered a buyout from the mortgage company foreclosing on the owner. This offer is made to insure the mortgage company will be able to take posession of the home in a timely manner and retrieve the keys!

I recently heard a rumor that some smaller mortgage companies are allowing tenants to stay on with a new rental agreemant. Who know, you may have some real great choices to choose from. Good Luck to you Todd!

Michael
http://www.MichaelRobertsHomes.com - Tue Nov 11 2008, 17:56

Hi Jdurand, This area of Blossom Valley has shown to be all over the map, so to speak. There are a number of recent sales that have closed for over the asking price and otheres that just won't sell. Why?
Short Sales!

There is one property available for $279K that is a REO (bank owned property) which means you will likely have a good chance that an offer will be responded to in a timely manner compared to the short sale offerings..

What will be of most value to you is to have your Realtor educate you to the specifics attached to bank owned properties and the strategies required to get their attention. This is usually successful when the Realtor has a clear understanding of how banks formulate their asking price and what there motivating factors are. Due diligence is the key to success here.

Michael

http://www.MichaelRobertsHomes.com - Sun Aug 17 2008, 08:22

Hi Adrian, Too many configurations are available in this area to give you a definitive answer. These statistics are for T.homes and Condos since Januraruy of this year. I hope this helps!


SOLD bed bath footage price/ft list price sale price
183 Rainbow Pl Milpitas 3 3 1/2 45 45 26 1,404 $405.98 $204 $590,000 8 $570,000
368 Imagination Pl Milpitas 3 3 51 51 42 1,243 $430.41 $210 $552,888 8 $535,000
159 Parc Place Dr Milpitas 3 3 151 151 49 1,280 $412.5 $175 $530,000 3 $528,000
341 Imagination Pl Milpitas 3 3 10 10 34 1,243 $418.34 $210 $549,888 8 $520,000
61 Rain Wk Milpitas 3 3 1/2 21 21 30 1,534 $338.98 $220 $538,900 8 $520,000
344 Imagination Pl Milpitas 3 3 46 46 33 1,243 $410.3 $210 $510,000 8 $510,000
218 Parc Place Dr Milpitas 2 2 1/2 79 79 13 1,038 $465.32 $175 $499,999 3 $483,000
248 Parc Place Dr Milpitas 2 2 1/2 27 27 49 1,038 $433.53 $175 $450,000 3 $450,000
2555 Alveswood Ci San Jose 2 2 47 47 23 1,040 $375 $432 $424,900 19 $390,000
1870 Tradan Dr San Jose 2 2 216 402 24 988 $313.77 $320 $349,900 19 $310,000
1988 Tradan Dr San Jose 1 1 258 258 63 712 $358.15 $320 $245,000 20 $255,000
2503 Alveswood Ci San Jose 2 1 1/2 1 1 105 920 $214.13 $414 $239,000 19 $197,000

AVERAGE VALUES 79 95 41 1,140 $381.37 $255 $456,706 11 $439,000

Michael
http://www.MichaelRobertsHomes.com - Sun Aug 17 2008, 08:07

HI Lois, I have investigated this recently and found an average size pool with a deep end of 8 feet should cost approximately $25K max. This would include the proper drilling out of the bottom and removal of pump and filter equipment.

I would suggest you learn if you could have the fill material delivered from someone who is digging out a new pool. Pool contractors would be able to help you with that. If you called pool services you may be able to sell the equipment to one of their needy customers. I think this alternative will save an enormaous amount of money.

Hope this gets you noodleing!

Michael
http://www.MichaelRobertsHomes.com - Tue Aug 12 2008, 20:51

Hi B, We seem to want to point the finger at the agent whenever things don't 'fit'. Have you considered that the homes you want to see are 'short sales' and there are pending offers already. Maybe your agent had trouble clarifying this possibility. They should be listed as PS (pending show)..The problem..Agents seem to forget there are new requirements. That may explain why the other agents told you they were still available.

PS (pending show), in this scenario means, the home has at least one offer with the bank. The bank is reviewing it. In the meantime, continue to show as there is no ratified sales contract. Hence, the listing agents have told you they are not in escrow.

Michael
http://www.MichaelRobertsHomes.com - Sat Aug 9 2008, 20:42