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94301 : Real Estate Advice

  • All19
  • Local Info2
  • Home Buying10
  • Home Selling1
  • Market Conditions2

Activity 17
Sun Mar 19, 2017
Lina Zhou asked:
the asking price is $6800/month, why I have already deleted everything from Zillow but the post is still showed on Trulia? I was so frustrated with that, could you please help to cancel…
0 votes 0 Answers Share Flag
Sun Mar 19, 2017
Lina Zhou asked:
the asking price is $6800/month, why I have already deleted everything from Zillow but the post is still showed on Trulia? I was so frustrated with that, could you please help to cancel…
0 votes 0 Answers Share Flag
Tue Sep 23, 2014
montakay answered:
who owns the house or property at 903 smith st providence ri
0 votes 16 answers Share Flag
Sun Feb 16, 2014
Grace Hanamoto answered:
You can't since ownership "type" is recorded with the property. Although the unit is detached, because the property title is defined by the city prior to construction, it cannot be changed to something it's not by building code. Most often a detached home is called a "condo" when it is constructed on a smaller than allowed lot size by building codes of the city. Often the city also allows a larger than allowed home to be built on the property by using the condominium definition. To allow affordable and denser single family homes to be built, the city allows the homes to be called condos with the perimeter of the defined condo being the exterior lot lines of the property. This title would apply to all homes within the community, so neither you nor the other owners can change title without removing some homes and increasing lot sizes to at least 5500 SF and often decreasing square footage inside the home, in most cases. Sorry, but this is not going to be allowed. ... more
1 vote 3 answers Share Flag
Wed Apr 27, 2011
Tina Lam answered:
Hi, MLS records all the short sales and REO that have been put on the market. There are reports that captures the pre-foreclosures and foreclosures based on public records (notice of default, notice to sale, etc). If you would like me to forward the report, just give me a ping.

Are you looking for foreclosure property in Palo Alto?
... more
0 votes 3 answers Share Flag
Fri Jan 28, 2011
Vera Gonzalez answered:
Gofishu2,

Here is how I put it to people yes it is an investment the value of the house is the value of the home. If I have 5 kids I do not want to live in a 762 sq ft home. Good schools are a value, how close it is to their jobs or family.I really do not care how much the person spends. MY JOB AND ONLY JOB IS TO PUT A PERSON /FAMILY IN A HOME THEY WANT TO BE IN!!! Market condition or personal conditions? It is all a matter of perspective. I only care that people will be in a house that suits there needs and hopefully they listen and do not overextend themselves so I am selling the same home 2 years later after it has been foreclosed.


Good luck,

Vera
... more
0 votes 32 answers Share Flag
Tue Nov 16, 2010
Dawnbh answered:
The selling/listing agent first loyalty is to the seller, while they may be able to conduct or represent both buyar and seller in a single transcaction, it is better for the buyer to have complete loyalty and confidentiality from their buyer's agent who will negotiate especially on your behalf. Your agent must be trustworthy! Would you choose your opponent's lawyer to represent you in the same case? ... more
0 votes 24 answers Share Flag
Wed Sep 1, 2010
Melissa Key answered:
Lavette,
I would suggest that you do some research on your own first. Find out as much as possible about the new especially with regard to school systems. Drive through various neighborhoods and also search on Trulia so you can become familiar with prices since price does vary drastically depending on your location. Ask the Realtor who has your home listed to make a referral for you if they can, especially if you are staying in-state. If you are moving out-of-state, I would strongly suggest working with a Realtor who has an ABR certification (Accredited Buyers Representative). You can get a list of all Realtors with this certification from the ABR website. This is a Realtor who has extra expertise in working with Buyers and relocation clients. Also, do keep in mind that some areas do not encourage contingent offers. Be courteous and don't "wear out" an agent looking too much until you at least have a firm contract, but do ask your Realtor for them to pick 5-6 top properties for you to preview. I know in our area, we strongly discourage our Sellers from taking offers contingent upon the Buyers selling a home, especially if it is out of our local selling area, but all areas are different. Good Luck!! ... more
0 votes 10 answers Share Flag
Mon Mar 8, 2010
Newseller1 answered:
Thank you. I have gone through all the responses, and I note that my question has been fully answered by several.

I appreciate the insight shared.
0 votes 14 answers Share Flag
Fri Mar 5, 2010
Jane Grant answered:
John: Go for quantity, in other words keep looking, calling, e-mailing etc. I use the "you have to kiss a lot of frogs, mentality. Persist and at the same time avoid the toads. If you cannot get a response on a home your client really likes then find them something better! ... more
0 votes 16 answers Share Flag
Wed Jan 27, 2010
Bill Mccord answered:
Deborah,
The mere fact that you old agent made such a request justifies your decision to look for a more professional partner in your home search. There are plenty of us out here, so check out those who work in your area and see if their answers to other questions indicate a better grasp of the clients needs, rather than how to protect a commission.
Good luck,
Bill
... more
0 votes 23 answers Share Flag
Sat Oct 31, 2009
Norman Alessandrini Warren Weston answered:
Hi Sophie,
Marcy pretty much covered the bases on REO"s, basically everyone wants one, but they may not be the best buy as multiple offers drive the price higher. Reo's are going to increase next year , but I don't think in Palo Alto they will be enough to really make a price difference. Short Sales may afford you a better buy as Short Sales are usually listed even lower than REO'S. This is done because selling Short Sales are a LONG PROCESS usually involving months and the agents want to start the process asap and they usually need an offer to do that also with the price that low expect multiple offers and a higher price ( sorry, there is alot of interest in Palo Alto). I have a Bank Manager friend in B of A who says they are trying to stream line there Short Sales department to speed things up. As Marcy said the banks make more money on Short Sales so expect to see more of them.
As always if you have any questions feel free to contact me.
Regards,
Allyson
408-705-6578
allyson@homesbyallyson.com
DRE# 01397256
... more
0 votes 3 answers Share Flag
Wed Sep 9, 2009
Jonp answered:
Bmerkel -

Like you, I'm curious about 1212 Parkinson too. It got multiple offers in the $2.1M+ range last December and it ultimately sold for $1.76M in August. So I'm trying to figure which one of the following two things happened:

(a) either the Palo Alto market for SFR homes in the $2M range has actually softened by that much since last December -- which is scary, or

(b) it was a situation unique to that particular house and to that particular seller's sales & marketing plan.
... more
0 votes 10 answers Share Flag
Fri Sep 4, 2009
Terri Vellios answered:
I have a PDF I'd be willing to email if you are interested in the sales trend for the last two years in Palo Alto.

There was a foreclosure moratorium put in place to slow down the market. That was to end recently.

As for a wave of foreclosures I have access to data showing notices of default and pre-foreclosure status, so if I chose to compile data from that, I could. But that doesn't mean that the homeowner will get to the point of short selling or going to foreclosure. They may be working on loan modifications or it may be a temporary situation. The reality is we are still seeing more homes in distressed. If Banks were to release all these foreclosures in a wave it would be like shooting themselves in the foot, competing with lower priced homes. It makes better sense for the banks to try to work with the borrower, and if need be, release the homes slowly into the market. But then again, banks don't have a history of doing "what is smart".

To respond to multiple offers, it is the auction mentality...buyers bid on low priced homes and then they compete, after being beat out of offers they become competitive, not only financially, but emotionally. This drives the price up, and that is what determines market value. What a buyer is willing to pay and what it closes at. When talking about statistics one must understand the bench mark and what the statistics are. For example, prices are up? Ok, from yesterday, 2 months, 2 years? Neighborhood and area should not be "lumped" into one comment that is the all knowing Oz answer.

It is always good advice to consider the source of the information and their motivation for providing that information. Newspapers sell on hype, Realtors and agents depend on a healthy market, as do lenders. But just because they may have a monetary interest doesn't mean that the information is incorrect.
... more
0 votes 30 answers Share Flag
Fri May 8, 2009
David Tapper answered:
The listing agent wasn't very bright for not having a written contract with the seller. I can't believe he would attempt to do the transaction without a valid contract. I hope the seller wasn't a personal friend, because no friend would do this to an agent.

You need a good real estate attorney and so does the listing agent. If you need a good attorney, please feel free to ask.

Regards,

Dave Tap Tapper
Realtor
Cashin Company
www.DavidTapper.com
650-403-6252
... more
0 votes 3 answers Share Flag
Thu Feb 19, 2009
David Tapper answered:
Without seeing the context, I believe it means the seller still lives in the home. Send me the info and I will let you know.

Dave Tap Tapper
Realtor
Cashin Company
www.Davidtapper.com
Redt4u@aol.com
650-403-6252
... more
0 votes 1 answer Share Flag
Fri May 9, 2008
John Souerbry answered:
I work with many Palo Alto investors who don't list their property on the MLS, they prefer to do private sales and will use an attorney to administrate the sale rather than a broker (I'm a broker and consult for a fee in these situations, but don't list the property for the client or negotiate the sale). They might put their own For Sale sign on the property or sell it through a network of buyers they already know. If you are truly interested in the property, call the seller or send them a letter and ask for all the details that you would normally see on an MLS printout. ... more
0 votes 5 answers Share Flag
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