1) Never take advice on landlord/tenant issues from any one out of the area because local ordinances prevail. 2) Legally "incorrect" evictions place the evictor in jeopardy of TRIPLE damages under state law. 3) Before "Just Cause" eviction in Oakland (measure EE) was enacted, we used to write purchase offers for tenant occupied properties with the clause "Property to be delivered vacant at close of escrow" and allow for a minimum of 60 days for escrow. It was only fair to first remove all buyer contingencies (usually taking the better part of 30 days) before a landlord/seller should be compelled to notice the tenants of the termination of their tenancies (requiring 30 days). In Oakland, now, 60 days is the minimum notice period. Owner move in (OMI) is legal under Measure EE, but a buyer in escrow is NOT an owner... and a landlord/seller is NOT moving in. It is also my opinion, as an agent and landlord, that month-to-month tenants have no less right to maintain their possession of the premises than do lease-holders. Month-to-month tenants just have an easier time terminating their tenancy. Because of Oakland's restrictive laws favoring tenants over landlords there is a flourishing business within the legal community handling these affairs. However, there is not very much case law on the subject... so, should a case go to trial, the outcome is pretty much up for grabs. There are similar laws in San Francisco, where a judge a few years ago disallowed an owner move in because he said "It was just a tactic." The good news is: rents are good... and it's easy to find tenants willing to pay market rates... just check Craigslist.... more
It depends on what your model for purchase is. If you plan to get conventional financing, meaning a loan through a bank or other lender, then you really will be best served to find a realtor experienced with the area you want to purchase. That agent can help you shop the specific market and capture a good opporunity when it comes along. All short sales that I know of are sold through the MLS and with a licensed real estate agent, and many foreclosures are as well.
If you are a cash buyer/investor type, and you are hoping to buy at auction...that is an entirely different world. Frankly, it is not for the uninitiated, because there are no protections when you buy on the courthouse steps, and you have to be able to absorb all risk. You have to pay all cash the day of the auction, and you rarely have the opportunity to get inside the property before you purchase. There is NO title insurance. If you are still reading, you should be hearing alarm bells in your head at this point. When you buy it, you take responsibility for ALL liabilities. I tell most buyers this is really a fantasy scenario that it is best to not waste time on.
The people doing it are mostly professional and experienced investors, and most of them are pretty aggressive. Most use Foreclosure Radar as one of the resources for watching what is scheduled to come on the auction block. And, of that list, the vast majority gets pulled back at the last minute. Buying foreclosures requires a full time effort and an ability to leverage cash and absorb risk.
Hope this was useful, but feel free to contact me if you have further questions.... more
I would be happy to get you a market analysis if you want to contact me. I would need more specific information such as to how many bedrooms/ba; what sq ft you want (example: a range 1000-1500 sq ft); what size lot...then we can do a search for similar homes and you will have an idea of what the offer price was, what it actuall sold for, how many days it was on the market,, when it sold, it it were updated or needed work,, etc. Our office also uses a website called Trend Graphics which is very good to show the trends in an area over a specific period of time...this will show if the prices have gone up, down or stayed the same and how many days inventory is on the market...the graphs will show the trend...Spring for instance will be a busier time of the year than say fall/winter. I am happy to help you find a home. I am well acquainted with Rockridge and Lower Rockridge...I have clients who have purchased in these areas and love the area. I often work with first time home owners and can hellp guide you through the buying process. I have a great stable of professionals, from lenders, title oompanies, to renovation experts who do great rehabs for a fraction of the cost of others. You will note that most sales in Lower Rockridge if priced right have sold quickly and at over asking prces and with multiple offers. Please check out my website at www.apr.com/rnied Thanks and look forward to hearing from you. Rose Nied Alain Pinel Realtors 510 530 7011... more
Lisa - to answer you question, I did hear from a loan broker that duplexes were considered higher risk. Loans to non-single family residences did not fall under the new Fannie/Freddie rules as applicable to California. The reason given to me was simply that the multi-family market was much smaller than single-family market and therefore Freddie/Fannie would not want to take on the risk of the loan.... more
Hi Mike, Are you still interested in Hiller Highlands? I currently have two listings in Hiller. Please check out my website; www.GayleTantau.com. Please do not hesitate to contact me. No one knows Hiller like I do as I've listed/sold over 40 HIller townhouses. GaylesellsHiller@yahoo.com... more