RoseAnne Wood

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RoseAnne Wood, in Sunny San Diego
  • 11 Answers
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  • 2 Useful Answers
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About Me
Born and raised in the San Diego area except for 7 years during my high school/college years living in Vancouver, B.C. Couldnt find a better place to live than here - so I moved back almost as soon as I was a legal adult. The rest of the family soon followed. Married with 2.5 children. (The oldest is my stepdaughter and I have to share her) I've been selling real estate in the San Diego area for almost 19 years. That's a long time, eh?

My specialty niches are relocation: I joined the ERC and became a Certified Relocation Professional in 1997. I enjoy helping newcomers to San Diego find their perfect neighborhood. I am unbiased and unprejudiced when it comes to areas... budget, commute, and the clients' personal preferences determine the locations I suggest. I also work with corporate transferees moving out of the San Diego area because of a job transfer.

I did quite a few short sales in the early 90's and have done a few this time around, so I guess that is my second niche. So far, I have had a pretty good response from the lenders and have a 100% success rate. Patience is a virtue in the short sale transaction!
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RoseAnne Wood's Questions (1)
RoseAnne Wood's Answers (11)
Anne, Home Buyer in Richmond

Is auction the last step in the short-sale-->forclosure-->auction process? How much of a discount can I?

Asked Fri May 30 2008, 07:56 by Anne  -  North and East  -  Foreclosure  -  5 answers
RoseAnne Wood answered:
Perhaps I misunderstood - I was thinking the 'last step'of the foreclosure process she asked about was the trustees sale 'auction'. That's the 'end of the foreclosure process... and those do require cashiers checks.

Auctions set up to sell off REO properties are quite different, I agree, and do not require quite as much 'due diligence' as a trustee's sale auction. But those auctions are just another way of marketing REO properties. I have not heard of any one getting a great 'deal' from those auctions either - just the opposite in fact. - Fri May 30 2008, 10:33
Once it goes to auction there is no short sale. You have to do your homework prior to bidding at auction because the amount owed to the bank is usually the minimum bid. In this market that amount could be higher than the market value of the property. You also want to make sure that there are no liens on the property that will survive after the auction. And you have to have cash. (Casheir's checks)

After the auction, if there are no bids, it will usually end up listed with a realtor as an REO property. Banks always try for market value, but I've seen some lately in our area priced way below market --- which builds up a buyer frenzy - so there are multiple offers and the property actually sells for higher than list price. My experience so far in this market has been that the best 'deals' are short sale properties or bank owned that have been on the market for a while, low offers getting accepted.

Good luck to you! - Fri May 30 2008, 09:45
Christelle, Home Buyer in San Diego

What is the process with a short sale after the sellers accept the offer in CA?We recently put an offer

Asked Sun Mar 30 2008, 14:39 by Christelle  -  San Diego  -  Home Buying  -  13 answers
RoseAnne Wood answered:
If they accepted your offer and it was submitted to the bank there are two scenarios: 1. The other buyer has bailed out and they did not inform the bank; or 2. Your offer is the better offer. There would be no reason to submit an offer that was less than one they already have in hand.. and certainly no reason for the seller to accept it. The good news is that having an offer already 'in process' could shorten your wait for the banks approval. Good luck and be patient! - Tue Apr 1 2008, 15:02
Christelle, Home Buyer in San Diego

Question re: renting out our home.We are planning to rent out our home in the next few months in order to

Asked Sun Mar 30 2008, 18:50 by Christelle  -  San Diego  -  Financing  -  4 answers
RoseAnne Wood answered:
Talk to your tax advisor. I too am not a cpa, so my best guess would be that once you move out your receipts would become deductible as a rental expense. While you are living there you are just fixing your home, so it's the timing that would be my concern. After, as Tom said, they are a business expense... as you are preparing to officially open your business'. I also believe that minor repairs to your principal residence would not adjust your basis at all... they would need to be capital improvements to do that. Again, talk to your tax advisor and make sure that it is in your best interest to rent and what exactly is deductible. - Tue Apr 1 2008, 14:55
Anonymous, Home Buyer in

We visited a builder, got info and liked it. Thought maybe we should spend less. We got a realtor to show

Asked Sun Mar 23 2008, 11:14 by Anonymous  -  All locations  -  Home Buying  -  1 answer
RoseAnne Wood answered:
Most builders here require agents to register their clients on the first visit or they won't pay any commission... and they will also not generally increase the price to cover any commission. It sounds like you have already negotiated a price. Perhaps you should just give the bulder the agents information and let them get the 'proof'. (How can you prove you are NOT working with someone? Maybe a copy of the email you sent her?) If they are willing to stick to the negotiated price AND pay the agent, then you just made a new best friend. :) - Sun Mar 23 2008, 11:33
Albert, Home Buyer in San Francisco Bay Area

What area(s) within a half-hour's drive to downtown San Diego are presently the best values for buyers of SFR?

Asked Tue Mar 4 2008, 17:47 by Albert  -  San Diego  -  Home Buying  -  11 answers
RoseAnne Wood answered:
Areas that are a good value are the ones that hold their value. :)

Two more suggestions for you:

University City, located east of La Jolla, 20 minutes to down town or beaches. Good schools, quiet older established neighborhood. Zip is 92122

Scripps Ranch - two sections, one is newer homes with Mello-Roos. The other is older and established, no mello roos. Some very good buys in the high end homes which would be in your price range... now. Schools are very good. 20-30 minute drive depending on traffic. 92131 zip - Fri Mar 21 2008, 23:12
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