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94583 : Real Estate Advice

  • All42
  • Local Info2
  • Home Buying25
  • Home Selling0
  • Market Conditions3

Activity 33
Sun Feb 12, 2012
Christina "Chriz" Tokar answered:
Hi, If you are working with a competent Realtor who knows the process, in most cases, you will be way out ahead if you do the short sale. With a short sale, we can in many cases not only sell your home, and save you from the negative dings of foreclosure pn your credit, we can also get you some cash for "keys".... In most cases, we also get the deficiency judgment waived, so you do not owe the bank any money once we are finished. I work with an attorney who helps streamline the process and keeps you out of bankruptcy while we go through the process. I generally prepare all the paperwork and stay on top of the attorney who will be speaking with the bank. As a team, we get it done. Most banks are much better today, than years ago. However, the homeowner gets very little respect from the banks, so work with a professional who knows the system, and will get you through the process. ... more
1 vote 11 answers Share Flag
Thu Dec 22, 2011
Trusted_source answered:
Unfortunately Mr. Reilly doesnt know what he is talking about, atleast with regards to the Foothills off Norris Canyon.

Mr. Reilly - in the future please research the question asked if you are going to respond. Your answer is not only incorrect, but even in current (terrible) market conditions, the Foothills properties list well north of $250k, far out of reach of your $200k upper proposed upper limit. Responding as you did just makes you look lazy and or incompetent to the needs of potential buyers with legitimate concerns. The Foothills were not apartment conversions, they were built as condos and not rental units.

To answer the questions posed, with regards to the Foothills:

1) I do not know of Crest View, so I can't compare what is a 'better community' as that is an opinion of what specifics you look for in a community. I can tell you, that the Foothills is a very quiet community, good people, and the pool areas are lively in the summer.

2) The Foothills, back in 2008-2009, had major construction done on all the builinds, brand new siding, windows and glass sliders were installed. The siding is hardy board (concrete boards) and has a 50 yr life span. That said, this community is set to appreciate heavily when the market returns.

3) At this time, a 2BD/2BR 1050 sq foot place at the Foothills goes for around $260-$300k. This is a fair price for the area, and comparing it to other condo units in San Ramon, it is a great deal for what you get (including HOA dues, and the size of the property, 2 pools/2 spas, etc..)

4) For the Foothills, just a small ways away by the Iron Horse Trail, there is current construction for some residential units and small shops to be built, which will be a nice, short walk from the Foothills for a morning coffee or lunch/dinner. This is the only construction I am aware of.

Thank you
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0 votes 2 answers Share Flag
Wed Aug 10, 2011
The Medford Team answered:

As you are aware,

• This property sold on 07/16/2010 for $1,135,000.
• There have not been a lot of sales in this area for homes of this caliber since then, which makes comparative pricing difficult.
• It appears the market has been trending slightly downward for newer luxury homes on this side of San Ramon, however, it’s difficult to say because, again, there have not been many sales in this category.
• It is true that this area of San Ramon is not as ‘hot’ as Bridges or Windmere.
• I’m guessing you want to place an effective value on a similar home to make sure you are getting a ‘good deal’ – perhaps on 13 Pine Valley Place.
• Just because a short sale seller will allow an offer to be accepted at a ‘bargain’ price does not mean the bank will approve the sale at that amount. What appears to be a good deal up front may, in fact, end up selling for the same price as other comparable homes near by.

We cannot provide specific property evaluations in this forum for a number for reasons.

• We are not supposed to ‘second guess’ other Realtors and decisions they helped their clients make with regards to specific properties.
• We have to be careful of our agency relationships – therefore we can provide certain types of information but not specific pricing, etc.
• We don’t know all the variables and haven’t been in all the homes in the area – especially the one you are asking about.
• In addition, there is no saying whether or not improvements or upgrades have been made to this home since it sold over a year ago.

Bottom line: this is the type of question you need to be asking your Realtor. Based on a previous question of yours, it appears you are already in escrow – we cannot help you second guess your decision on that property. I’m trusting that you are working with a top-notch agent who can provide you with all the local data you need – and since you are already in an agency relationship with them, can also give you specific recommendations as to price and terms as well.
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3 votes 1 answer Share Flag
Sat Aug 15, 2009
Vickie Nagy answered:
Hello Andre,

Foothills in San Ramon recently underwent a major renovation. I've heard it said that the last improvement was the new siding, windows and doors, but the roof was "recently" done as well. These are all good points to know. Sometimes there's not enough money in cash reserves to pay for capital improvements, as reportedly was the case in Foothills. There were special assessments, and all the work appears to be complete. Just be sure your seller has settled any outstanding assessments.

If you're shopping for Realtor who knows the local condo market, please give me a call. You'll find lots of condo market reports at

Kindest Regards,
Vickie Nagy
Realtor® - ABR, CRS, e-PRO, GRI, SRES
(925) 407-7987 cell
Vickie Nagy | Keller Williams | 760 Camino Ramon Suite 200, Danville, CA 94526
CA DRE License #01363932
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0 votes 3 answers Share Flag
Sat Feb 21, 2009
. answered:
"I just had a short-sale with Indy Mac and they never brought this up. They lost 4 of our "hardship packages" but other than that they were typical big bank--4 digit extension, different person to talk to each time, took their sweet time!"

THEY ARE SOMEWHAT A NEW BANK STRUCTURED THROUGH WASHINGTON — A seven member investor group (billionaire George Soros and Dell Inc. founder Michael Dell) agreed to purchase. Indy Mac Bank is one of the largest casualties of all time and tied to the housing bust. Estimated at near $14 billion. Indy Mac, which specialized in loans made with little down payment or proof of assets. That’s hard to believe as regulators let it go unchecked. Bank was seized by the government in July after a run on the bank as the U.S. housing market collapsed. The Federal Deposit Insurance Corp. statements showed a holding company and private equity firm Dune Capital Management, agreed to buy Indy Mac.

The ability for Indy Mac bank to raise capital and mange losses will necessitate avoidance of short sales and modifications. You go through "He.ll to get a file approved, then receive an offer then get a sign off by another person who will lose the file (yeah yeah ) and then MAYBE ! Fannie AND FHLMC YES MAYBE. TOXIC SUP PRIE LOANS . . . NO WAY! THEY MUST FORECLOSE

Hey, I normally want to hear your feedback but ....Nope - the shorts and mods argument is not in the cards!
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0 votes 15 answers Share Flag
Wed Dec 24, 2008
Steven Ornellas answered:
Hi Christian, not sure if your interest in this property is casual or serious. If it's the latter, you can always contact a Realtor to approach the owners to gauge their continued interest in selling. -Steve ... more
0 votes 2 answers Share Flag
Wed Dec 24, 2008
Nate Ellis answered:
Wing - there are BMRs in San Ramon. Currently the City has a wait list for the properties. Occasionally these homes also appear on the open market as well but mostly are on City and County Sale Lists. The first step is to see which types of BMR Homes you are eligible for.

San Ramon has 2 categories. Homes that fall under the City of San Ramon Plan and guidelines and Homes that are part of the County guidelines. Each have slightly different requirements. There are also BMRs in some of the neighboring Cities as well.

You will also need to enroll in a First Time Home Buyer Certification Course Provided by either the Tri-Valley Housing Opportunity Center in Livermore or The Mt Diablo Housing Opportunity Center in Concord Both of these organizations are severely impacted dealing with foreclosure counciling but there are work arounds.

Special financing is also required for the purchase of BMRs. Most lenders are not familiar with processing these loans. There are specialist lenders that work primarily with BMRs and Down Payment Assistance programs. These are the folks you want to seek out.
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1 vote 3 answers Share Flag
Sun Aug 10, 2008
Johnny Huang, MBA answered:
Ask a licensed contractor (a few of them), get an idea of the materials your home requires to rebuild. How's the quality of the construction...are you using high quality materials or normal grade? What are the labor costs in the area? Depending on alot of factors, you're looking at $150-$350 per sqft.

The insurance company will use what they call Marshall and Swift calculations which is their basis for construction costs.

Again, get with someone that is familiar with construction costs and rebuilding and match it with the insurance company.
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0 votes 2 answers Share Flag
Tue Apr 8, 2008
Anthony asked:
I've got some clients very interested in purchasing one of these homes. If there are any homeowners with one of these models and are potentially interested in selling, please let me know.
0 votes 0 Answers Share Flag
Tue Apr 8, 2008
Anthony asked:
I've got some clients very interested in purchasing one of these homes. If there are any Realtors who know of one coming soon, please let me know.
0 votes 0 Answers Share Flag
Sun Mar 16, 2008
Joanne Liotta answered:
All 66 condos at the auction were sold by about 2:30pm. The Refelections had 25 for sale. The 2bd/2ba units sold for an average of $325,000. A few of the 2bd/2ba sold for sold for as low as $305K, a few sold for as high as $350K and the rest were in between except for the one 2bd/1ba and one 1bd/1ba which sold for less than the $305k. Let me know how else I can. I am dedicated to helping you find your perfect house. ... more
0 votes 2 answers Share Flag
Thu Dec 27, 2007
The Hagley Group answered:
I live and work in San Ramon. I am more than happy to look into this for you. Shoot me an e-mail or give me a call.
0 votes 3 answers Share Flag
Mon Jul 30, 2007
Patti Phillips answered:
Cindi, I think you have gotten a great range of answers across the board. I'd approach it first, as Bridgette commented, by taking the position of asking if there is something you have done- and how can we make this work bettr for everyone. Let the agent know, however, that you really can't have negative comments made to your buyers about your professionalism, and that you are going to be here "to help through the whole transaction" whether or not the builder expects that.

Then, if the other agent still seems condescending, uncooperative or negative you need to go to whoever is above them and let them know it is happening. Keep each conversation along the way, including the past comments in a log, so that you have documentation for your broker and the other agent's broker if needed.

As Michelle stated, some people are just jerks! But, in my opinion, we- as professionals need to see to it that the level of professionalism is kept up as high as possible- so we can't just allow the jerks, "ethically challenged, etc just continue "willy nilly" without commanding respect for ourselves.

Good luck. If you ever have clients with needs in the North San Diego area, please give me a call. I'll make sure YOU look like a STAR by taking great care of them!

Patti Phillips
2007 President, North San Diego County Chapter Women's Council of Realtors
Encinitas, CA
... more
2 votes 6 answers Share Flag
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