Living in Contra Costa County

Short Sales are a tough business and there are a lot of ins and outs.  I did a post on Equity Purchases in California and the Hazards of making an Equity Purchase, which like it or not a Short Sale falls under the Equity Purchase Laws.

Now if you read the Equity Purchase Laws you will see that if you do not do it right you can end up with a $25,000.00 fine, plus civil liability, and get to spend a year in the county jail.  I do not think any one wants to do that for a Short Sale.

I had spoke to The California Assocaition of Realtors Legal Hot Line on the issue some time ago and clarified when a Short Sale was or was not an Equity Purchase.

As a Broker and a REALOR® I never saw the disclosures as an obstacle to doing Equity Purchases.  I figured I could just put the forms together.  However, it is easier than that, the appropriate forms are already included in CAR Forms (Form NOD PA), and be sure to attach a copy of your Broker and Agent License. 

The obstacle I saw to Equity Purchase Sales was the extravagent bond requirements on Agents and Brokers.  I am a pretty strict about going straight to the source and seeing what the law actually says.  Frequently the law does not actually say what other people say it says.  Often times the interpretation is well meaning, but does not look at other possible solutions.  But the Law here was pretty clear, you need a bond worth twice the value of the home. 

While looking for a legal work around on this issue I again contacted CAR's Legal Hot Line.  The good news is the Bond portion of the law was thrown out.  Here is a link to CAR's NOD Investor Transaction information.  This is very good.  Between this case law and the CAR Forms Equity Purchases are not an obstacle.

My real concern is that with my Short Sale Listings I have recieved dozens of offers that would constitute an Equity Purchase.  Not one agent has used the proper forms, not one was aware of the laws, and not one took the trouble to find a way to get the job done right.

As a Broker and REALTOR® I do not claim to know all the answers, but I will not ignore problems and I will dig to find the right answers to make your purchase or sale legal, secure, and to protect your interest.

If you are considering a Short Sale purchase please down load my Free e-book on 15 Things you need to know about purchasing a Short Sale.  If you are thinking about selling your home short get my Free e-book on 19 things you need to know to Short Sale your home.

Antioch Home for Sale!

Did you miss this home the first time?  Well it is back on the market and not due to any problems with the house. 

Very light fixer that may qualify for FHA.  You can get this home and move right in for under $100,000.00.

Do you want a home with:

• Classic Fireplace in a Cozy Living Room
  
  
• Single Story
  
  
• Single Family Home
  
  
• Three Full Bedrooms
  
• Covered Patio
  
  
• Large Lot
  
  
• Gas Stove
  
  
• Two Car Garage
  
  
• Quite cul-de-sac
  
  
• Close to Shopping
  
  
• A Small Price

This Single Family Home may be for you. Click here for more information on this Antioch Home for Sale!

Or call 925-260-4321 for an exclusive Showing!

This Antioch Home for Sale is priced at $95,000.00.

Antioch Home For Sale - Move in Condition for Under $100,000.00

This Antioch Home for Sale is back on the Market at $99,000.00. This home is in excellent condition and features Granite Counter tops and Faux Hardwood floors.  I beleive this home should qualify for FHA Financing.

Three full bedrooms and two full bathrooms, with a two car garage, patio and much more.

Do not miss this excellent buy.

Click here for more information on this Antioch Home for Sale or call me for an exclusive showing at 925-260-4321.

Antioch Home for Sale!

Do you want a home with:

• Classic Fireplace in a Cozy Living Room
  
  
• Single Story
  
  
• Single Family Home
  
  
• Three Full Bedrooms
  
• Covered Patio
  
  
• Large Lot
  
  
• Gas Stove
  
  
• Two Car Garage
  
  
• Quite cul-de-sac
  
  
• Close to Shopping
  
  
• A Small Price

This Single Family Home may be for you.  Click here for more information on this Antioch Home for Sale!

Or call 925-260-4321 for an exclusive Showing!

This Antioch Home for Sale is priced at $95,000.00.

Marin County Horse Property

The owner just called me and told me to Lower the Price and get it sold Now!

Let's see what we got:

• Marin County Horse Property
  
  
• Pool
  
  
• Hot Tub (There may be a Law in Marin requiring these.)
  
  
• Flowing Creek
  
  
• Gourment Kitchen
  
  
• Fireplace
  
  
• Plenty of Space
  
  
• Large Lawns
  
  
• Decks
  
  
• And so much more!

This Marin County Horse Property is now Priced at an Amazing $770,000.00.  You could FHA Finance this home with 3.5% down in Marin County.

For more information go to www.2424Vineyard.com.

Did I mention we are open this Sunday (June 6th 2010) from 1 to 4 PM.  Come by 2424 Vineyard Road in Novato.

If you cannot make it Sunday give me a call for an appointment to view at 800-200-1305.

This Marin County Horse Property will not last long.

Marin County Horse Property open this weekend.

If you are looking for a Marin County Horse Property one of the best buys will be available for viewing June 6 from 1 to 4 PM.

The owner has told me to bring all offers.  With the weather getting nice this pool home with a back yard that feels like a Park will sell.  Get your offer in first.

This Marin County Horse Property is in Novato's Wild Horse Valley featuring a horse community and many riding trails.

Although this Marin County Horse Property has not been used for horses in many years it still can be. And at an amazing price of $780,000.00 you can easily put in your own stables or stable your horses up the street.

You get so much more than a Horse Property with this home. There is a swimming pool, gourmet kitchen, five bedrooms, decks, hot tub, and large bonus rooms.

For more information go to www.2424Vineyard.com or come by 2424 Vineyard Road this Sunday (June 6th 2010) from 1 to 4 PM.

If you cannot make it Sunday give me a call for an appointment to view at 800-200-1305.

This Marin County Horse Property will not last long.

Come see this fantastic home Sunday May 16, 2010.  This home is in one of Marin Counties finest horse communities.  There are really to many details to go into here.

Click here on Marin County Horse Property for more information.

If you cannot make the open house call me at 800-200-1305 for an exclusive showing.

Today I took a new client out.  It was our first meeting.  About mid way through the eight homes I showed him he asked me about a discount, like they provide through Costco. 

Apparently he had been shopping with a Costco referral agent but did not see anything he liked.  He liked the homes I was showing him.

At first I deflected the question and changed the subject, but inside I was fuming.  I prayed for wisdom and direction on how to handle this without being rude or loosing the client.

At the next home I pointed out the seller wanted to see a pre qual from a large nationwide bank.  He asked me what advantage there was to going with that bank, did they offer a discount?  I told him in fact there were some incentives offered, but often those "deals" were recouped by the lender in other charges and then service could also be an issue.

I then pointed out it was like agents that offered rebates then steered clients to only certain homes, those paying high commissions.  I went on to say I could not offer rebates as I take them to the best homes, not the homes that pay the best commissions.  I think I made my point and it hit home.

Discounts don't save you money, it just rearranges the situation and may cost you more than you save.

Marin County Horse Property open this weekend.

If you are looking for a Marin County Horse Property one of the best buys will be available for viewing this weekend.

This Marin County Horse Property is in Novato's Wild Horse Valley featuring a horse community and many riding trails.

Although this Marin County Horse Property has not been used for horses in many years it still can be.  And at an amazing price of $780,000.00 you can easily put in your own stables or stable your horses up the street.

You get so much more than a Horse Property with this home. There is a swimming pool, gourmet kitchen, five bedrooms, decks, hot tub, and large bonus rooms.  

For more information go to www.2424Vineyard.com or come by 2424 Vineyard Road this Sunday (May 9th 2010) from 1 to 4 PM.

If you cannot make it Sunday give me a call for an appointment to view at 800-200-1305.

This Marin County Horse Property will not last long.

Discovery Bay Bank Owned Homes

Bank Owned Homes are one of the most popular homes for buyers trying to find a bargain. This report looks at Discovery Bay Bank Owned Homes and compares the current active market of Bank Owned Homes to sold homes for the last couple of months. This reports numbers are based only on Single Family Bank Owned Homes.

Click here for Free Tips and Tools on Buying a Bank Owned Home.

Right now there are 9 Discovery Bay Bank Owned Homes on the market with an average price of $319,888.00 and a median price of $263,500.00. These homes have been on the market for an average of 31 days and are listed at an average price of $114.00 per SF.

There were 9 Discovery Bay Bank Owned Homes sold in January with an average price of $273,194.00 and a median price of $278,250.00. These homes were on the market for an average of 23 days and sold at an average price of $97.00 per SF.

In February 5 Discovery Bay Bank Owned Homes sold with an average price of $341,900.00 and a median price of $307,000.00. These homes were on the market for an average of 12 days and sold at an average price of $125.00 per SF.

Prices for Discovery Bay Bank Owned Homes appear to be rising, but Bank Owned Homes and homes in general in Discovery Bay are eclectic and with few sales numbers can vary from month to month.  Here is Last Months Discovery Bay Bank Owned Homes Report. Compared to the entire Discovery Bay Housing Market Report the prices for Bank Owned Homes are better.

Contact me directly for more information on Discovery Bay Bank Owned Homes.