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Home Buying in Pleasant Hill : Real Estate Advice

  • All66
  • Local Info5
  • Home Buying24
  • Home Selling4
  • Market Conditions1

Activity 22
Mon Dec 17, 2012
Connie Trincali answered:
Hi Claire, There could be a variety of variables with this increase. As Realtors we are sometimes at the mercy of the Owners attitudes. The increase could be the Owner just wanted to go up on his property due to the profit he is looking for at closing...OR the Owner could have had a Appraisal completed on the property and decided to bring the property up to the Appraisal he might have received OR the Agent that listed the property decided other properties in the area had sold for more than what he judged this property to be worth so he talked with his Owner and made the decision, with the Owners consent to increase the price of the property. In my area we are finding that values are starting to go up. Agents try their best to get the best value for their Buyers and Sellers and sometimes that means price adjustments. Sheryl Jones, Melbourne, Florida ... more
0 votes 4 answers Share Flag
Sun Dec 16, 2012
Tim Moore answered:
Pre foreclosure is also called a short sale. There is really no such thing as a foreclosure because that is a process to covert ownership from a defaulting owner to another party. Once it occurs there is a new owner and it is often the lender or bank that made the loan. Then it is called a bank owned home assuming the bank bought it. Yes, a VA loan can be used to buy a short sale or a bank owned home. Speak to a lender to find out more. ... more
0 votes 8 answers Share Flag
Sun Dec 16, 2012
Suzanne MacDowell answered:
Depends on what you are using it for. If you want to see foreclosure listings for the purpose of purchasing property you are much better off finding a realtor to work with. Most of the listings on Realty Trac are not for sale. They merely list homes that are in the foreclosure process. ... more
0 votes 6 answers Share Flag
Tue May 15, 2012
Pacita Dimacali answered:
Not everybody does this for the precise reason you want to back out if there is no limit as to what the highest offer is, and it turns out to be more than what you can afford.

Not everybody does it because if you do state the maximum you can afford or would like to pay your price, by stating this in your addendum --- "or $3000 over highest offer with a cap of $___" then you've basically already told them what your best and highest offer is.

So why didn't you offer that in the first place?

And what would stop the seller from countering you at that price?
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0 votes 6 answers Share Flag
Fri Jan 6, 2012
KC Carpoff answered:
Cheryl, Send me the address so I may give you a more detailed answer.
Ken -
0 votes 2 answers Share Flag
Fri Jan 6, 2012
KC Carpoff answered:
Actually, almost all homes are approved for FHA financing unless its a condo project with less than 51% owner occuppied. FHA has a 203K program that allows you to finance needed repairs to bring it up to standard for FHA after close. I would have to see the home to determine if there would be a problem going regular FHA. You can visit my website below to set up a home search and i can guide you to which homes would be the best ones to buy FHA. ken ... more
0 votes 4 answers Share Flag
Mon Jul 21, 2014
Cynthia Kraemer answered:
It's a good idea to get your agent's opinion on who she would recommend in the new area you are looking. She can work with an agent there to oversee the transaction and they can work together to help you in your search. She can get a referral fee from that agent too and still benefit by your new purchase, but more importantly she will have some input to the agent and find someone she feels will work well with you. ... more
0 votes 14 answers Share Flag
Tue Nov 22, 2011
Ron Thomas answered:
Your wording of the question give me great cause for pause:

First of all, there are actually three principles invoved in a Shortsale; the Buyer, the Seller (Homeowner) and the Bank (the actual Seller).

Secondly, you refer to the "Approval Date"; which to my mind is the date that you specified for the Bank to get back to you on your Offer.

Thirdly, you say "is the contract automatically cancelled" acknowledging that you have a CONTRACT.

I can only guess at what is happening here:
You made an offer, the Sellers approved it, and it was forwarded to the Bank. The Bank has not responded and you believe that the Seller's approval created a Contract for you.

My main reason for believing this, is that if you really had a CONTRACT with the Bank, the Bank would not be ignoring you.

I am further guessing that the Bank could still get back to you with an answer.

Have you, or your Agent, contacted the Listing Agent for his interpretation?

Good luck and may God bless
... more
0 votes 16 answers Share Flag
Mon Mar 6, 2017
Don Tepper answered:
No. You can't buy a home with credit scores of around 560. (Oh, I'm sure someone--probably a mortgage broker here--will say they can help. But, no, you really need scores above 600 to buy conventionally.)

Look, if you want to throw your money away, just put it in an envelope and send it to me. You won't get anything in return. But this whole "renting is just throwing your money away" is a line used by some real estate agents to inject a false sense of urgency into buying.

You're not throwing your money away by renting. You're getting something very valuable in return: A place to live.

OK. The argument is that all you have at the end of the year are rent receipts. You have no equity. That's true. So you want to buy. Let's say you find a place for $200,000. You qualify for an FHA mortgage at 3.5% down. You get the seller to pay all closing costs. Sweet, right? So you're now out of pocket for your $7,000 down payment. Considering that the costs to sell are roughly 10% of the value of the property, if you tried to sell right away, you're at least 6% underwater. You'd have to bring at least $12,000 to closing.

But let's fast-forward a year. What's happened to real estate prices? If they're down, you're even in a deeper hole. A drop of 5% means you've lost $10,000. If prices stay flat, you're still $12,000 upside down. If they've gone up 5%, you're STILL upside down.

Meanwhile, compare the costs of ownership versus renting. In some parts of the country, it's cheaper to own than to rent. But in most areas, it's cheaper to rent than to own. Work the numbers where you are.

Then there's the issue of mobility. If you rent, you can move without penalty when your lease is up. So every year, you can decide whether or not to move or to stay. It's not so easy if you own.

If you have the "dream of home ownership," then it's OK to pursue it. But don't confuse dreams with reality. The reality is that you're not throwing money away on rent.

Hope that helps.
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0 votes 27 answers Share Flag
Sun Oct 30, 2011
Vickie Nagy answered:

There is no title insurance and the property may have liens that cloud the title. Recommend that you proceed with caution and seek information on existing liens, HOA, Tax, etc.

Kindes Regards,
Vickie Nagy, broker Associate, BMC Real Estate
... more
0 votes 4 answers Share Flag
Fri Nov 18, 2011
Catherine Myers answered:
The sellers and their agent should have excluded that from the contract right up front. Sometimes in short sales people do rely on the "subject to lender approval" for other seller paid items and expenses, but the refrigerator is something the lender would not have had input on.

You realtor should work with their realtor to be sure the contract is adhered to. Worst case, small claims would probably be your only other recourse. It may be the realtor just needs to educate the seller on what the contract said and what their obligations are.

As an aside, many short sellers do exclude appliances, some opt to take them, some opt to sell them separately.
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0 votes 10 answers Share Flag
Wed Mar 2, 2016
Ruben Pizarro answered:
Call me at 863-409-1734, give me details and i'm part of a relocation service program, I can check realtor stats and someone who can help you by experience and knowledge.
0 votes 4 answers Share Flag
Tue Oct 14, 2014
Bernard Gibbons answered:
I would always recommend a home inspection for any home, regardless of when it was built. New homes frequently have defects that can be identified by a good home inspectore. Have a home inspection for your own protection and peace of mind.

Bernard Gibbons

Bernard Gibbons, J. Rockcliff Realtors
DRE License # 01331583
Phone (925) 997-1585 -
... more
0 votes 11 answers Share Flag
Thu Mar 31, 2011
Evan Homer answered:
Hi Ami,

There are many great Realtor's out there and you should not be afraid at all to ask questions. That is the only way you are going to get a good feel for the person you are working with. If you are nervous, I would suggest you talk to a few agents and figure out which one best suits you. I can assure you that I deal with all of my clients openly and honestly and if you have any questions or need further assistance, please feel free to contact me.

Evan Homer
(925) 642-5760
... more
0 votes 38 answers Share Flag
Wed Aug 18, 2010
Pacita Dimacali answered:
Are you thinking of buying a house for you to live in, or for an investment to flip or to rent? Yes, there are good buys to be found, depending on your situation and your criteria for what a "good deal" entails.

Where do you work --- and is commuting of importance? Stockton may be cheap, but if you have to spend more than 3 hours a day commuting, that's not a life!

How much are you preapproved to buy based on your income, your credit score?

How much are you paying for rent? Can you buy a home that will result in similar monthly outgo for housing?

Although many cities in the East Bay have seen their share of short sales and foreclosures, we are also seeing many competitive scenarios where homes sell for over list price. Granted that the list prices are down by 20% or more from their peak, the competition for homes in a certain price bracket (under $300K, especially) are stimulating a different kind of buying frenzy. I can't believe it myself that we're back to listings with offer dates!

Since you favor statistics and graphical information, go to as well as a view of the interest rates at

Then go to the Mortgage Center, answer questions that pertain to your situation.....

You'll have your answer.

Good luck, whatever you decide.
... more
0 votes 11 answers Share Flag
Thu Sep 3, 2009
Johnny Huang, MBA answered:
Read the terms of the auction sale closely. Most of them will want a 5% buyer's premium. This means they will charge that on top of the sales price. You also would most likely need to register up front and have no inspection contingencies. You also will have to close within the timeframe of the auction company, not your lender and would possibly have daily charges for anything over their time period. READ everything carefully!

The sale (if it was done) would affect the FMV of comparables in the area, especially the units within the HOA.
... more
0 votes 6 answers Share Flag
Fri Aug 27, 2010
Michele Castillo De Almeida answered:
Hi Ariel,
This is the question of the day. Unfortunately, we have no way of knowing at this point if we are at rock bottom. Depending on which analysts you listen to, you will get conflicting information. What we are seeing is that there are multiple buyers on most homes under $500k and homes selling above list price. This is starting to push prices up slightly because there is not enought inventory on the market. As we approach the winter months, we normally see less homes to choose from. In addition, there is talk that interest rates will be creeping up again. With this said, my opinion is that THIS IS THE TIME to buy a home. I believe there is still a window of opportunity to get great deals, find REOS (bank owned properties) and take advantage of the abundance of short sales (some banks seem to be improving their processes so that they are moving a little faster now) at still great interest rates. I would definitely suggest working with a full-time, experienced Realtor because this market can be a bit brutal with multiple offers and you will need a Realtor who will be on top of all new listings and be able to help advise you on how to write offers that have a better chance of being accepted when you are in one of those situations where there are 10+ offers on a home. Please feel free to contact me either via email of cell to discuss the market conditions in more detail. Good luck to you.


Michele Castillo De Almeida
JSCA Real Estate Group
... more
0 votes 13 answers Share Flag
Wed Mar 10, 2010
Johnny Huang, MBA answered:
I'm a young family (a 2 year old and one more coming) that lives (owns a townhouse) in Pleasant Hill and also play in the city softball league. The area you're looking at is a nice area, however Pleasant Hill Rd can get quite busy with traffic. Downtown is changing, but lots to do. The Sunvalley Mall isn't too far away either. I like this town personally. ... more
0 votes 2 answers Share Flag
Tue Jun 23, 2009
Bernard Gibbons answered:
It really depends on the bank but usually no more than a week (but remember that banks don't work Saturday and Sunday).

I wrote an offer for a client on Monday and we got a response yesterday (Thursday).

Assuming you wrote the offer with a real estate agent to represent you (and why wouldn't you?). He should be able to answer that question more helpfully as he will know which bank is involved.

Bernard Gibbons

Bernard Gibbons, Realtor, e-PRO Certified Internet Specialist
J. Rockcliff Realtors, 15 Railroad Avenue, Danville, CA 94526
Phone (925) 997-1585
... more
0 votes 1 answer Share Flag
Mon Mar 2, 2009
Jeff Miller answered:
Hi Elizabeth,

There are so many factors that go into answering the question "which is a better investment" that I can't really give you a hard and fast answer. However, I think you should consider where are you and your family going to be happier over the next 5 - 7 years? In the older, (charming, I'm assuming ), smaller but renovated, 1 bath house? Or the newer, 50% larger, cookie cutter with 2 1/2 baths townhome? If you weren't going to live in which ever you buy, then your decision should be based on numbers and your crystal ball. But since you're planning on living there, don't forget your happiness.

Good luck.

Jeff Miller, Broker
Bar Harbor, ME
... more
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