Home Buying in Union City>Question Details

Tam, Home Buyer in Union City, CA

Recommendation for East Bay realtor specializing in foreclosures

Asked by Tam, Union City, CA Thu Jun 26, 2008

Can I get a couple of recommended realtors who specialize in foreclosure sales in the East Bay (Hayward,Union City, Fremont areas) of the Bay Area. My husband and I want to start looking at some foreclosed homes and need some assistance.

Help the community by answering this question:


Hello Tam,

There are many realtors in the Bay Area.

My suggestion is you interview 2-3 of them and decide that who is going to serve your best interest.

You are welcome to visit my website and check out list of Bank owned homes.
at http://www.HomesByCharo.com and on left click on Bank owned properties.

Feel free to call me for no obligation meeting at 510-381-2105
or email me at CharoBhatt@gmail.com

I’ll be help you locate and negotiate some good deals

Good luck to you,

Charo Bhatt
Web Reference: http://www.HomesByCharo.com
1 vote Thank Flag Link Wed Jul 2, 2008
Hi Tamara, obviously we're both passionate about our abilities. The fact that I have a deeper skill set is not a liability; it’s a strategic asset for you.

As they say, "the proof is in the pudding." Talk with individual Realtors to see if there's a personal fit. Then, review the Realtor's client testimonials and pick some to speak directly with (don't be steered). Ask these past clients what they liked about working with the individual, but more importantly; ask what they didn't like about the experience, or what went wrong, if anything. That is how you will get the best information.

Best Regards,

Steven A. Ornellas, GRI, ABR, e-PRO, CMPS, RE Masters, MBA
REALTOR® / Mortgage Banker-Broker / Certified Mortgage Planning Specialist
0 votes Thank Flag Link Fri Jun 27, 2008

You are getting a lot of great information! I’m grateful for Steven’s vote of confidence: I agree with him that you want to work with a Realtor that has extensive experience, especially in the area in which you are looking. However, I’d like to “correct” a few things from Steven’s last posting. If you encounter a medical issue, you want to go to the best specialist you can find. You don’t want a general practitioner. You don’t want a doctor who answers the main phone number, does all the filing, cleans the operating room, assists himself … you get the idea. You want an expert who has a support network so that you can expect him to do what he does best, and who is surrounded by totally competent people who are world-class experts in what they do. It’s no secret why we consistently do so many transactions and why an Internet rating system consistently gives us the absolute highest rating possible. We have dozens upon dozens of glowing testimonials and a steady stream of satisfied clients continuously referring new clients to us.

I’d encourage you to sit face to face with a few different Realtors. Ask a few definitive questions, such as:
(1) How many transactions have you done in the past 12 months? Not your team or brokerage – you personally. Ask for information to back up their claims.
(2) What happens if you go on a scheduled vacation while we are in the middle of a vacation? Or get sick? Have an auto accident? Who is there to back you up?
(3) Who will be driving me around to look at homes?
(4) Who will be doing the negotiating and writing up my offer? Who will handle all of the subsequent paperwork?
(5) Will you personally be available a year from now? 2 years? Do you have written testimonials from people who have called back after the transaction is over and have been blown away by your continued support?
(6) Are you available 24/7 so we can contact you directly by phone? Email? Texting? Not an assistant or call center?
(7) Will you host a housewarming party for us (at the Realtor’s expense) once the transaction is closed?
(8) Do you have access to a top-notch lender who is not “in your pocket” so there is no conflict of interest between the lender and the Realtor?

I’m sure you have a few questions of your own – I’d love the opportunity to meet face to face with you at the Starbucks or Peet’s of your choice! All the best!
Web Reference: http://www.carlmedford.com
0 votes Thank Flag Link Fri Jun 27, 2008
Hello again Tamara,

Suffice it to say you have two experienced and sincere professionals vying for your business who are very familiar with the areas you are interested in. Carl and I have never met, but I can tell you he’s the type of committed professional I always hope is on the other side of my transactions (and just based on the shear volume of Trulia activity, I would include Cindi in this statement too). From a skills and competency level, as well as access to Foreclosure/REO listings, you are well covered between us, we all have the same sources.

I believe the real question to answer is which service model works best for you and your husband.

Carl is a licensed Salesperson working for a Broker. This Broker has 20+ agents working for him. Rightfully so, the Broker has established a Real Estate transaction "team" processing system where a number of people aid in the completion of each transaction. This is one of very many models along the mix of focus between transaction efficiency and personal service.

I am a licensed Broker; however, by personal choice, I have no Salespersons under me. I handle every aspect of each transaction myself because I have found this is the only way I can assure a completely smooth process. I am deeply knowledgeable in many areas ( http://www.steven-anthony.com/default.aspx?pp=35478 ) from all aspects of home building/repair to Real Estate finance, tax and investment. My “Expect Excellence. Get What You Expect™” trademark is a strong statement regarding my personal service and communicates the level of commitment you can expect when you work with me. When we are done with your purchase I want you to consider me your personal Real Estate Advisor that you can call for advice at anytime long after I hand you the keys to your new home.

Whomever you eventually choose to work with, I wish you and your husband the very best! If you would like to sit down and talk in more detail please contact me directly via email or cell so we can set up a time.

Best Regards,

Steven A. Ornellas, GRI, ABR, e-PRO, CMPS, RE Masters, MBA
REALTOR® / Mortgage Banker-Broker / Certified Mortgage Planning Specialist
Steven Anthony Real Estate & Financial Services
Expect Excellence. Get What You Expect.â„¢
Cell: 510.461.6011
http://www.Steven-Anthony.com SteveO@Steven-Anthony.com
0 votes Thank Flag Link Fri Jun 27, 2008

Morning! The amount of down payment you have and the price range in which you are looking will provide you with a wonderful home! There are many great options out there right now, and I don’t believe you will have to go to Hayward to find a home that truly fits your needs and desires. Projected resale value is always a critical part of buying a home – Union City homes typically have better resale potential because of the better schools.

The existing pre-approval you have gives us a ballpark idea of the constraints we will have – before we head out to look at homes, it will be important that you check back in with your lender to ensure that the recent rate hikes have not changed the numbers for you. We will also need a copy of the preapproval letter to submit along with an offer.

Your primary concern seems to be “when” to jump in and start looking. We are currently working with a number of buyers looking for foreclosed homes in the Fremont Tri-city area – this gives us a very good feel for the current market. We’re seeing an increase in the number of properties that are receiving multiple offers. We’re seeing other groups of buyers coming and going before and after us. Bottom line is this – the bottom of the market appears to be heating up.

As you know, it has been the number of foreclosures, short sales and the lack of decent loans that has caused the market to decline. We’ve come though over 18 months of foreclosures hitting the market, and there will be a steady stream of foreclosed homes continuing to come on the market for the next 18 or so months. The difference between now and 18 months ago is this:
(1) Prices have already dropped substantially and are looking like they are coming close to the bottom.
(2) New loan programs are making it possible for buyers to get back into the market.
(3) Rising interest rates are triggering a buyer flurry – they are jumping in now before it is too late.
(4) Investors are starting to come back into the market – many investors believe we are at the bottom and don’t want to miss out. Many of these are bringing all cash offers.
(5) Rising gas prices are compelling buyers who live in outlying regions to jump in now to cut the cost of their commute.

I don’t believe we are going to see an increase in prices in the short term, however, I believe we will see a lot of adjustment going on as the bottom of the market starts to take hold. I also believe that prices are going to hold fairly stable for the next 18 months.

Bottom line: now is a great time to get into the market! In fact, many great homes are flying off the market in very short periods of time.

One last thing: I am guessing you are first-time buyers. We have an awesome coaching program designed just for you to make sure you totally understand the buying process! This includes our comprehensive Buyer’s Guide – no one else out there has anything like it! Our schedules are totally flexible to accommodate you. We’ve received rave reviews from the many first-time buyers we’ve placed in homes just in the past few months alone. We know one very important thing: it’s all about you! We’d love the opportunity to meet with you at a Starbucks near you, explain who we are and how we work, and then see if we’d be a match for each other. There is no cost or obligation to meet – and the beverages are on us! Check out the following URL for a better idea of who we are and how we work: http://www.carlmedford.com/files/360170/The%20Ultimate%20Buy…
Web Reference: http://www.carlmedford.com
0 votes Thank Flag Link Fri Jun 27, 2008
Hi Tamara,

A Pre-Approval is really only valid on the day it is provided because it is based on an assumed interest rate, which can certainly change the very next day. If you are working with someone who can tell that the Pre-Approval is good out to September then I would like their name - so I can take them to a Las Vegas Casino and retire that weekend!

All kidding aside, there's plenty of supply out there right now, and you should start looking because your decision to buy is based on quantitative considerations (like price and square footage) as well as qualitative considerations (such as the feeling you get when you walk through the door). I've seen qualitative take a backseat to qualitative many times. Right now, the diamonds in the rough are getting picked up, I know first hand because I have gone to preview some that went Pending the next day!

Keeping my prior comment in mind let me address your market timing hesitation. I think we will continue to see excess housing supply for at least another 12 months, and at a first glance it may appear that waiting is the most prudent strategy. However, this “wait-and-see” strategy might net you a more expensive purchase deriving from long-term accumulated interest expense due to mortgage interest rate increases over the next 12 months. For example, say we have a 650K loan on a 10Y interest-only product. A 1% difference in rate would add an additional interest expense cost of $65,000 over the 10 years. Looking for the right house now reduces that interest rate risk.

We are going to see another “small” increase in foreclosures/supply come this Aug/Sept due to May’s Subprime reset spike (actually, in the entire loan classification spectrum -- see: http://docs.Steven-Anthony.com/Resets.pdf ) Couple this with the typically slower fourth quarter of the year, and I believe you have a very interesting time to buy – possible interest rate escalation being a caveat.


Steven A. Ornellas, GRI, ABR, e-PRO, CMPS, RE Masters, MBA
REALTOR® / Mortgage Banker-Broker / Certified Mortgage Planning Specialist
0 votes Thank Flag Link Thu Jun 26, 2008
Hello again! We are pre-approved (through Sept) and have 20% down payment. We want to stay under 600k. We do have some baseline requirements (side-yard access if possible, a pool, 3br, 2ba, separate living and dining room (or a 4th bedroom), we do not require a separate dining room if the kitchen is large, preferably around 2000 sq ft). My husband really liked UC, though I know that there are alot of houses for sale in Hayward. We have no kids, so while the local school is not critical, we do prefer a nicer school district as that can equivocate to the style of the neighborhood. What has been holding us back so much is not knowing when the right time will be to buy. Our brother-in-law just purcahsed a foreclosed home in Gilbert, AZ, which has really now got us thinking about checking out foreclosures. However, we have checked all the listing sites and we have also found non-foreclosures we like, but we just haven't started to look at anything.

Anyways, sorry for the long posting. My husband and I are checking out the responses and will follow-up with someone over the next few days.

Thanks :)

0 votes Thank Flag Link Thu Jun 26, 2008
Hi Tam,

I was born and raised in Fremont, and I still have my home here. I am a licensed Realtor, Mortgage Banker, and Certified Mortgage Planning Specialist, so I can insure that your upcoming purchase goes smoothly. I have completed transactions in each of the cities you mention, and I’m currently actively looking in all of the same cities you have mentioned right now for a Foreclosure/REO purchase for another client. I can meet with you and your husband at your earliest convenience – even this afternoon if you would like to get started.

The very first step is to obtain a financing pre-approval, which I can perform for you. If you have not been pre-approved to determine exactly what you can afford you may be basing your search on less-than-perfect information about your buying power and the loan products available to you. This can mean the difference between a "so-so" or strong neighborhood, which ultimately effects your choice concerning schools, appreciation, resale value, etc.

Normally, Foreclosure/REOs are sold "as is", so it’s imperative to have a stellar property inspector (and I'm not talking about a "2hrs and done" inspection). Also, we would need to look at sales of similar properties to come up with a solid offer price.

For more information on the Pre-Approval process visit:

My Client Testimonials can be found here (you may speak to any of them if you like):

I look forward to the opportunity of working with you and your husband.

Best Regards,

Steven A. Ornellas, GRI, ABR, e-PRO, CMPS, RE Masters, MBA
REALTOR® / Mortgage Banker-Broker / Certified Mortgage Planning Specialist

Steven Anthony Real Estate & Financial Services
Expect Excellence. Get What You Expect.â„¢
Cell: 510.461.6011
http://www.Steven-Anthony.com SteveO@Steven-Anthony.com
0 votes Thank Flag Link Thu Jun 26, 2008
Carl Medford

We've done MANY foreclosure (REO) sales in the past 12 months. We'd love to meet with you and go over all of your options! I live in the Fremont Tri-city area and very familiar with it as well. We have many sales in the area.
Web Reference: http://www.carlmedford.com
0 votes Thank Flag Link Thu Jun 26, 2008
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