Eric Wong

I'm a:	Real Estate Professional
Company:	Prudential California Realty
Location:	Berkeley
Web sites:	My Blog
Phone:	(510) 868-1540

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About Me

I was born in San Francisco, and I have lived in the East Bay since attending the University of California, Berkeley in 1980. I have been with Prudential California Realty in Berkeley since 2002. I specialize in the cities Richmond, El Cerrito, Albany, Kensington, Emeryville, Oakland, Alameda and Piedmont.
If you are in need of a Realtor with knowledge of our local market, and an understanding of your needs, someone with the ability to listen to you and cares about your concerns, please feel free to contact me with your questions about the home you live in, or the home you want to live in.

Eric H Wong
Prudential California Realty
2095 Rose Street
Berkeley, CA 94709
eric.wong@prurealty.com
510-469-7363

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Eric Wong's Questions (1)

Eric Wong's Answers (130)

The house i'm renting just went up for auction this past friday, when do I need to move out

Asked yesterday, 07:53 by Jovonna Carr - Chula Vista - Foreclosure - 3 answers

Eric Wong answered:

For the person asking the question, and all you out of sate agents, if you do not accept the keys for cash option, California has a 60-day eviction process, not 30 days. - Yesterday, 12:41

Question removed

Asked Sat Nov 15 2008, 09:04 by Boni - Riverside County - General Area - 1 answer

Eric Wong answered:

You have to go down to city planning, or the county deat if you are in an unincorporated area, and apply for a variance. You will have to tell them what you are planning to do, and why. You may have to submit plans depending on the rules in your area, and make a public notice about what you are doing. At ay rate, go down to the city planning office, and they will tell you what to do. - Sat Nov 15 2008, 11:03

My house in CA got foreclosed on 7/29/08. When we first purchase the home, we received two loans from?

Asked Fri Nov 14 2008, 07:40 by Kasy - Mountain House - Foreclosure - 2 answers

Eric Wong answered:

We were talking about this very subject in our office meeting this week. 2nd mortgages on foreclosed homes, especially Countrywide, instead of just going away with the foreclosure of the property, are being turned into prommisary notes that follow the former owner. It becomes like an unsecured credit card debt.
Speak to a lawyer, but since you already have a foreclosure on your record, and if the debt is truly more than you can handle, you may want to lok at bankruptcy.
Speak to a lawyer first.

Good Luck - Fri Nov 14 2008, 15:02

How are real estate agents compensated?

Asked Sun Nov 9 2008, 10:39 by Jane - 92108 - Home Selling - 7 answers

Eric Wong answered:

The Agent on either side of the transaction, is paid from the Seller's proceeds once the property closes escrow and is sold.
What actually concerns me more is that, from your question, it sounds like you do not have an Agent representing you, watching out for your best interrests and being your advocate.
In fact it sounds like the listing agent has created a dual agency and is trying to represent both you and the seller. There is nothing wrong with this, as long as you feel that you are being properly represented and protected by the single agent working for both sides.
It sounds like you do not feel this is the case.
It may be time for you to find your own agent. - Sun Nov 9 2008, 11:01

What does it mean when you put an offer on a shortsale then a week later the listing price goes up?

Asked Sat Nov 8 2008, 15:06 by Eva - Oceanside - Home Buying - 2 answers

Eric Wong answered:

The lender on a short sale will often not tell the listing agent what they will accept until they have actual ofers in front of them. The listing agent will put a price on the property that she thinks will sell it, and then collect the offers. Once those go to the lender, a negotiator from the bank is assigned to the case. It is then that the lender decides how much they are willing to lose.
It could be that the lender found none of the offers acceptable, and named a higher price, and that is the new price you see listed.
You should note that the lenders are often far removed from the property, and they may have no idea what the local market conditions are. If there is a second mortgage on the house, it adds a whole new layer. Often the lenders holding the 2nd will walk away with little or nothing.
Have your agent contact the listing agent to get the real story. - Sat Nov 8 2008, 15:29

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