Yes, rents have gone up cross the board as people lose their home to foreclosure and become tenants. California seem to be also doing better than rest of the country so I have also noticed lot of relocation from the other states into our area increasing the demand for rentals.
If you have good credit and foresee living in the area for the next five years, you may want to consider buying a home. I would not be surprised to see your net cost to buy a home after tax benefit to be very close or lower than renting the same house.
The best thing for a home owner is to call their lender to try work out a loan modification. Home owners should not pay money to a company to modify their loans. I heard horror stories about people in financial hardship paid $4000-5000 to companis that claimed that they will modify the loan and did not work, they took the money though from the home owners. That left the borrower in more debt.
If the bank did not approve a loan modification, then they better do a short sale after they consult with their CPA, or tax attorney. Short sale is for a home owner on their primary residence and has to be in a financial hardship.
Department of Real Estate
DRE License # 01722870... more
Although I am grateful for all the help that my title company rep gave me in the past, particularly as they related to lists like what you mention, I am finding other ways to generate the information I need.
For properties in distress, take a look at ForeclosureRadar.com which serves California. They provide a lot of good information on outstanding loans, number of loans, when the notices of default/trustee sale was filed, when the tentative auction date is.....etc.
They do charge a small fee...but in my opinion, it's worth it. You can see at a glance who, among your clients may be in distress. I have contacted a couple of my clients already, after seeing their names on the list, and encouraged them to seek relief through loan modification first.
Hard to predict the next several months - but...currently there are 148 detached homes are for sale in Pleasanton, of those only 7 are in financial distress situations - this numbers is lower then many other communities. For example Dublin has only 128 homes for sale with 23 which are either Bank Owned or Short Sale. Looking to either buy or sell in Pleasanton - I doubt that there is ever a bad time. Pleasanton is a delightful beautiful community. Hope this info helps.... more
Yes, Pleasanton's market is doing better than it was a few months ago. I represented my sister on her purchase in the Del Prado neighborhood of Pleasanton about 5 months ago and there was much more inventory at lower prices than there is now. If you need a referral for a terrific agent in Pleasanton, I have a friend who is an expert in the Pleasanton/Tri-Valley Area and would be happy to make a referral!... more
The Bay East & Data Quick real estate stats for June won't be out for another week or so. If you look at the MLS trend graphs on our site (link below) - you can get a snapshot of the Pleasanton market. You can also request the PDF market details report at no cost to you (and no hassles).
In general the condo market in the Pleasanton area is under a lot of pressure from hundreds of new units coming on the market across the 580 freeway in Dublin.... more
I am here in Ventura County and the market is still flat, virtually still a buyers market, homes are not moving quickly compared to two years ago, sellers are offering to bay costs and realtor fees have increased to encourage agents to show thier listings. It's a great time for investors, but sellers are having a difficult time here. It is unusual for us to have a market like this. School gets out in one week and many agents are hoping things will pick up then.... more