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Home Buying in San Martin : Real Estate Advice

  • All12
  • Local Info0
  • Home Buying5
  • Home Selling1
  • Market Conditions2

Activity 9
Tue Aug 23, 2016
Kzemog2046 answered:
Need to find a realtor who knows how to sell our house that is in a reverse mortgage. We live in Livermore California and want to move to Redding area but don't know how to get started
0 votes 7 answers Share Flag
Sun Jul 13, 2014
Sam Shueh answered:
That depends on your budget. Income, to live?
0 votes 7 answers Share Flag
Mon Jun 23, 2014
Sam Shueh answered:
Talk to a local realtor. I don't mind showing a few. But most realtors prefer a preapproval letter.

There is a slack right now since June. More sellers than buyers.

Sam Shueh
resident of South County for 30 years
Keller Wms Realty
... more
0 votes 6 answers Share Flag
Tue Sep 25, 2012
Annette Lawrence answered:
From Jan to Aug of 2012, 988 people in Clearwater FL not only trusted their real estate consultant but actually sold a single family home. Now you need to add 988 buyers and you have 1,976 buyers and sellers who trusted their real estate professional and realized their goal.

Those potential home buyers incapable of trust stood by watching as PK investments purchased over 800 homes directly from Fannie May and plan to purchase 600 more.

If you are a real buyer or seller you will work with a consultant or watch as others are achieving their purchasing goals. At this time, it should be understood, those who are hesitating will have the decision made for them. Gigantic investment companies such as Blackstone and PK will purchase the sitting inventory, and the fence sitters, the skeptics, those incapable of trust, will find themselves continuing to rent. (your question was posted in the Foreclosure category, so this may be relevant to you.)

There is nothing wrong with the TRUST and VERIFY strategy. The not trust and do nothing strategy accomplishes little and keep one locked in homeostasis.

Final thought, a ship wreck is easier to avoid than to fix. It is however, great to have choices. Some of the elements of anarchy pop up here on Trulia asking, "How do I make an offer on a foreclosed home?" The are steering straight for the rocks and when they wreck they will be back on Trulia looking for somebody to blame. Such an innocent four letter word that reaches to the very core of the individual.
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0 votes 11 answers Share Flag
Thu Sep 20, 2012
Philip Losey Junior answered:
In this market it certainly is difficult to sell for top money. A individual can make up the difference on the buy, and I always recommend selling over renting.
0 votes 7 answers Share Flag
Thu Sep 20, 2012
Katcha B answered:
Hi I am a local agent and would be happy to come by and discuss this in person with you.



0 votes 10 answers Share Flag
Fri Nov 11, 2011
John Arendsen answered:
Depends on your personal situation. Sounds like you can afford options. You're lucky, most folks don't have that luxury. You may just want to rent it if you can generate enough revenue to offset your nut. In fact if you can afford it there's nothing wrong with a rental property. It will eventually increase in value if it's in a geographically and economically desirable area. ... more
0 votes 9 answers Share Flag
Sun May 31, 2009
Mark Burns answered:
Their are several pending statuses on the MLS. PR, or pending release, most commonly means the sale is contingent on the sale of the buyer's home. Agents and sellers can put a release clause in a contract for any contingency but it usually means the buyer needs to sell their home before they complete the transaction.

The timeframe for a release clause is usually 72 hours. This means when an accepted backup offer comes in, the buyer is required to remove the contingency within 72 hours or the contract is void.

PS means pending sale but continue to show. This is the usual status right after a contract is accepted but the buyer has contingencies to satisfy such as inspections and financing.

PN means pending sale do not show. This is getting closer to closing and the buyer has most likely removed all of their contingencies.

Agents use the rules I have just described as guidelines. Occasionally a home goes directly from active to pending do not show. Occasionally, a home may have a release clause right up until the house closes escrow.

Your agent should consult with the listing agent of the home you are interested in and find out if there will be a possibility of you writing a 'backup' contract. If the listing agent feels the current transaction has a chance of falling apart, you may want to be the first in line without it going back on the market and being open to anyone else who may be interested.

Backup contracts are not common and may prevent you from purchasing the next home that comes up. You'll need a release from the backup before you can buy another home or you could end up buying two properties. A good agent is going to be able to counsel you on all of these issues.

Short answer: Skip the pending do not show properties. They're gone. The pending continue to show properties are probably gone too. Your agent should know how to handle all of this and advise you where to concentrate your efforts in finding a home.

Mark Burns
Coldwell Banker Premier
Cupertino and Silicon Valley
... more
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