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Property Q&A in San Lorenzo : Real Estate Advice

  • All26
  • Local Info1
  • Home Buying11
  • Home Selling2
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Activity 12
Tue Sep 25, 2012
The Medford Team answered:
There is no canned answer for this question. The house you are considering has very nice upgrades and is handicapped accessible – it is the type of home that many might like to rent – especially someone needing the handicapped features.

The Hayward Executive Airport caters to smaller airplanes and thus does not have the jet traffic that Oakland International has … however, this home is also very close to Oakland’s flight path as well.

Every home on the street is occupied, so there are obviously people who don’t mind living in the part of San Lorenzo.
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Tue Sep 25, 2012
The Medford Team answered:
We cannot provide you with valuations here in this format, however, a Realtor with local knowledge can definitely help by providing you with a comprehensive CMA (Comparable Market Analysis). This is a flip that has been completely upgraded and has many handicapped access features. It’s also almost directly under the end of Hayward’s Executive Airport main runway. It has a 2-car garage in an area where many of the homes only have a single-car garage. It was in escrow for a few days, and is now back on the market as of 9/4 – the previous buyer did not qualify. ... more
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Tue Jul 3, 2012
Pacita Dimacali answered:
You probably already know that once the bank forecloses on a property, they will take the time to take care of the ownership transfer, paperwork etc. before they hire a realtor to market the property for sale.

At the moment, there is no property on Via Susana marketed for sale...yet. It could be any time now.
They did have one for sale as a short sale, but the owners accepted an offer within a week of its being on the MLS

Are you interested only in foreclosures? And are you only interested in San Lorenzo, and perhaps San Leandro? Right now, there are 63 homes for sale with a minimum of 3 bedrooms, ranging from $175K to $898K. 14 are bank owned, 16 are short sales

If you have time and patience, it's not a bad idea at all to look at short sales. Typically distressed properties may be priced lower than regular sales of homes.....

But do note that like any market in the bay area, good priced homes in good condition and in good prices will attract multiple offers. And sometimes, cash doesn't always win. And neither does highest offer.

See http://activerain.com/blogsview/3294865/faq-2-why-was-my-offer-rejected-though-it-was-higher-than-list-price-

How may I help you? Give me call at 510 205 2992. Thanks.
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Wed May 16, 2012
Kalifa Coulibaly asked:
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This question is about this property: http://www.trulia.com/rental/3077592691-1482-Via-Lacqua-San-Lorenzo-CA-94580?ecampaign=con_day_post_rental_lead_welcome_fr
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Wed Oct 20, 2010
Lisa Jones answered:
Hi Emilee! Looks like that home is no longer available. I have other homes in that area. Would you like a free confidential consultation? I have Lenders for every credit situation.>> 510-485-6214 ... more
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Mon Mar 23, 2009
The Medford Team answered:
Michael:

This property is pending and off the market. It is a short sale and the price is artificially low. There are other homes in the area that are foreclosures and easier to secure. Let me know if you'd like to see any of them.
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Fri Mar 20, 2009
The Medford Team answered:
Helen:

I understand that this is a pretty gloomy picture, but I can also assure you that this is not want anyone wants, including the past AND current administrations. Unfortunately, we live in a culture that operates on the laws of supply and demand economics and market prices fluctuate accordingly. It’s the dark side to our economic system, and there is no easy fix.

Let me know if you’d like me to do a CMA for your home to tell you exactly where you are. You can click through to my profile to contact me through Trulia.
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Thu Mar 19, 2009
The Medford Team answered:
Michael:

This property is currently pending. The sales notice you saw on Trulia was for the Trustee Sale where the bank bought the proeprty from the trustee in foreclosure.

It went on the market as an REO, the list price was $220,900 and it was active on the market for 2 days.
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Wed Mar 11, 2009
The Medford Team answered:
Helen:

Let me try to answer a couple of your questions:

Q: Will the values go up? Will we end up like Japan where once it went down, it never goes back up for abt 20 yrs now?
A: Our preliminary estimates show a return to parity in approximately 2014. Obviously this is a guess based upon the current data, however, it’s the number I’m using for myself. In some places in the Bay Area, the market (especially the bottom) is actually currently rebounding – it really depends on exactly where you are. I can send you more specific data if you give me a ballpark idea of there you are.

Q: I heard about Alt-A loans that will take over subprime mess.
A: Best guess at this point is that the ALT-A mess will impact the upper end of the market in the same way the sub-prime fiasco hit the bottom end. It is too soon to tell what Obama’s plans will do here.

You really have to ask yourself some soul searching questions, such as the following:

• Why did I buy the property? For a roof over my head, long-term security, investment? Other reasons? Are those reasons still valid?
• Can I still afford to make the payments? If yes, and if I was OK with the payments when I bought the house, then how can I justify saying the payments are not OK now?
• Am I OK living with totally messed up credit for the next 7-10 years? Do I fully understand the implications of messed up credit?
• When I examine messed up credit with all its’ implications, is it better to sit and wait it out?

My advice to people who can afford to stay in their homes is to do so. You will not realize a loss unless you have to sell, and in the meantime, the primary goal of a house, a roof over your head, is still intact. In all likelihood, you mortgage payment is currently less than you would need to pay to rent a comparable home AND your income tax deduction remains in place. As you’ve already realized, put extra money into other venues instead of your home.

Loan modification programs, short sales and the like only work for those who may lose their home if drastic action is not taken. Hardship must be demonstrated to qualify for any of these programs and the verification process is VERY invasive.

If you could afford your home a few years ago, and can still afford it today, stay put and wait it out. The credit and heartache you save will be your own.

Here are a couple of posts that may be helpful:

http://www.trulia.com/blog/carl_medford/2009/02/people_who_did_everythin
http://www.trulia.com/blog/carl_medford/2009/01/loan_modification_progra
http://www.trulia.com/blog/carl_medford/2009/02/halt_declared_lenderstem

There are also some specific market posts that may be helpful. Let me know if you need anything else.
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Sun Jan 18, 2009
The Medford Team answered:
Jannice:

There does not appear to be such an address on the county register.
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Mon Dec 15, 2008
The Medford Team answered:
Son Hoang:

$45,000 is not the offering price for the home. It is the value of one of the existing loans - probably the second.

What you are seeing on Trulia.com is the notice of default for one of the mortgages provided by RealtyTrac. RealtyTrac notices can be very deceptive because they give the loan amounts, not the purchase price.

When this particular property does hit the market, it will be close to market value, not the $45,000 shown by RealtyTrac..

carl@carlmedford.com
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Tue Oct 21, 2008
Tara-Nicholle Nelson answered:
Nydia:

Sorry - it is currently in contract. However, there are a number of properties in that price range and area that are actually superior (Grant Ave is a fairly busy street). Please give a ring or drop a line if you'd like me to email you some of those listings, or if you'd like me to keep an eye on 536 Grant to see whether it falls out of contract (which does happen with a fair amount of frequency these days).

I'd also be happy to send you a copy of my book, The Savvy Woman's Homebuying Handbook (see the Amazon listing below for more info), my treat, if you email with a US Mail address.

Happy House Hunting!

Tara-Nicholle Nelson, Esq.
Broker/Owner
REThink REal Estate, Inc.
Tara@REThinkRealEstate.com
www.REThinkRealEstate.com
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Property Q&A in San Lorenzo Zip Codes

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