JSCA Realty

2282 Montecito Pl., Brentwood

Michele de Almeida — Wed, 02 Jun 2010 21:08:22 +0000

Offered at $215,000

Absolutely beautiful home on a large lot. This home offers 3 bedrooms and 2 bathrooms and is 1558 square feet. This home shows pride of ownership and has a long list of upgrades-lovely landscaped back & front, security system, tile in front entry, kitchen, dining and both baths and wired for surround sound. Please contact us for additional information.

4482 Sheepberry Ct., Concord

Michele de Almeida — Wed, 02 Jun 2010 21:02:06 +0000

Offered at $425,000

This is a must see. Beautifully upgraded 1,707 s.f. home on a 5500+ sq foot lot. The 4th br is a den/office. and it offers 2 bathrooms. This home is located on a court in a quiet desirable neighborhood. It is spacious and has an open floor plan with an expanded kitchen and beautiful entry with unique tile in lay. Located close to great schools, easy freeway access, and good shopping. Please contact us for additional information.

966 Signal Ct., Concord

Michele de Almeida — Wed, 02 Jun 2010 20:58:03 +0000

Offered at $410,000

Lovely 2 story home on court location. This home is located close to Walnut Creek, and shopping. It offers 4 bedrooms and 2.5 bathrooms and is approximately 1548 sq ft. The lot is 3640 square feet. It boasts Pergo floors and a marble fireplace. Please contact us for additional information.

546 Boulder Terrace, Fremont

Michele de Almeida — Wed, 02 Jun 2010 20:23:09 +0000

Offered at $395,000

This beautiful townhome won’t last long. It shows like a model! Beautifully upgraded 3 bedroom, 2.5 bath townhome located in the quiet desirable neighborhood of Niles Square. This home boasts a spacious, open floor plan with custom cherry floors, granite counters and breakfast bar. It is 1312 sq feet and was built in 2007. Please contact us for more information.

922 Hopkins Way, Pleasanton

admin — Wed, 09 Dec 2009 02:00:48 +0000

$964,500

Beautifully appointed 2,550 sq. ft. home on approximately 11,500 sq ft. of land. Sought after single story home featuring 4 bedrooms (4th is currently an office), 2.5 bathrooms and many custom upgrades. Backs to open space and boasts
stunning views of Mt. Diablo and foothills. A wonderfully spacious, open floor plan with an abundance of natural light and great for entertaining. Located close to great schools, parks, easy freeway access and minutes from Downtown Pleasanton. It’s a must see!

3362 Middlebrook Way, San Ramon

admin — Wed, 09 Dec 2009 01:45:29 +0000

Offered at $865,000

Stunning home with too many upgrades to list, located in the prestigious Carlyle neighborhood of Windemere. This 2004 Brookfield home features a wonderfully spacious, open floor plan with approx. 3400 sq. ft. of living space, 5 bedrooms plus a loft and 3 full baths. Boasts stunning views of foothills and an abundance of natural light, great for kids and entertaining. Large, private, professionally landscaped yard features waterfall, custom lighting, and a built in spa. Located close to great schools, parks, walking trails and Dougherty Community Station. It’s a must see!

657 Brookfield, Livermore

Lynda DiVito — Tue, 08 Dec 2009 22:26:45 +0000

This won’t last long! Beautifully remodeled 1,619 s.f., 4 bedroom home located in a quiet desirable neighborhood close to Pleasanton. This home boasts a spacious, open floor plan with too many upgrades to list. Located close to great schools, easy freeway access and minutes from Downtown Livermore shopping. Newly landscaped front and back yards. It’s a must see!

Master bedroom, plus 3 additional bedrooms
2 full bathrooms, with Granite
Hardwood and Tile floors
New Cherry Cabinetry in kitchen and baths
New Dual Pane Widows
Upgraded Granite, Eat-in Kitchen
Separate formal dining room
Private yard with lawn and patio
Central Air
Granite Countertops throughout

Short Sales: Understanding a Lengthy Process

Erica Jones Starkey — Mon, 11 May 2009 21:05:00 +0000

The phrase “short sale” is truly a misnomer for a process that can take months to complete. While short sales have become more prevalent in the market, many buyers (and sellers) don’t really understand exactly what it means. We continue to hear the surprise in client’s voices when we tell them how long short sales can take, “but we thought by the name they would be faster than normal sales?”

What is a short sale?
A short sale occurs when a homeowner attempts to sell their property for a price below their mortgage amount. The tricky part is that the lender has to accept taking less than what they are owed. The most obvious difference between a short sale and foreclosure is the ownership. In a foreclosure the bank owns the house, in a short sale a private owner owns it, but needs approval from the bank to sell it.

What this means for Sellers:
Though the sellers still own their home, they do not hold the cards. As much as they may want to sell it at a certain price, they are at the mercy of the bank for approval. The benefit of a short sale is that it is less damaging to a seller’s credit than a foreclosure. However, the short sale process does not stop foreclosure proceedings so if you are in default and trying to sell your home, you need to be very careful you are not foreclosed on in the process.

What this means for Buyers:
Short sales can be a good way to save money on a home, but you’ll spend a good deal of time waiting for it. Many make the mistake of thinking they will get a steal if they wait, generally there is around a 10% savings, but in copetitive markets that savings goes way down. It’s important to weigh whether it’s worth the savings or not to wait. Certainly don’t sacrifice getting a house you truly want to be in because you might get a “great deal” on a short sale. We always tell buyers to be flexible, but don’t settle either. The right house is out there whether it’s a short sale, foreclosure, or private sale.

Reasons short sales take so long:
The lender is looking at or wants to obtain multiple offers. They like to keep their options open.
If there is more than one mortgage on the house, the process is delayed while both lenders negotiate whether to accept less.
The current homeowner has to prove hardship to the lender before a short sale can be approved. Submitting and reviewing their documentation can extend the wait time.
While some selling agents have gotten smarter when it comes to listing short sales, many are still confused and unsure how to handle them. This can lead to major delays in getting the process started. It is important to work with someone who understands the process and can help move it along.
Things for buyers to expect when negotiating a short sale:
Expect to be kept in the dark. It generally takes a minimum of 4-6 weeks to hear whether or not your offer has been accepted by the bank and during that time you get very little if any information from them.
Expect that you will be competing with several other offers, and may need to change your offer at some point in the process.
Like foreclosures, short sales are sold “as-is.” Don’t expect credits for repairs, etc. after you submit an offer.
Expect to keep looking for other homes. There is no guarantee with a short sale so it’s smart to continue to look for other options.

Foreclosures: What You Need to Know

Erica Jones Starkey — Mon, 11 May 2009 21:04:00 +0000

We get questions every day about buying foreclosure properties so here are some basics to help guide you. It is true that often you can save money by buying a foreclosure property, but before you do it is important to know the risks and enlist a qualified agent to assist you.

What is a Foreclosure?
A foreclosure, or REO (Real Estate Owned), is a property that has been vacated and is now owned by the bank. Generally, most properties are in some stage of disrepair and often need new carpet, paint, and appliances. Some can have much more significant issues such as leaks and structural damage. Expect that you will have to do minor to moderate renovation.

The Buying Process:
In this market the demand for foreclosure properties is on the rise. We are seeing many more multiple offer situations. Don’t expect to low ball the bank, most foreclosures are priced aggressively to receive multiple offers. Often to get a foreclosure you have to write over list. Don’t worry, you can still get a good deal. The foreclosures we deal with still sell at below comparable market prices.

What does As-Is mean?
Foreclosures are generally sold As-Is, meaning take it or leave it. Banks rarely provide property details that you would normally see when buying from a private seller. When submitting an offer, most banks will require you to sign an As-Is addendum that states you won’t be receiving standard disclosures and any issues found in the inspections are the responsibility of the buyer. Thus, it is extremely important to conduct thorough inspections on the property. These may include: property, roof, termite/pest, and sewer/water main reports. Your agent should have a list of experienced professionals they work with.

Getting a loan for an REO:
Getting preapproved for a loan is the most important step in your foreclosure search. You cannot submit an offer without one. It is critical that you talk to your mortgage broker to get detailed information on loan programs. Most loans are either FHA or conventional loans. In addition, several banks require you to get preapproved through them before you make an offer on their property. It’s important to know this because it can delay making an offer and you will have to go through the application process again.

What is the 203k loan?
This is a program offered through FHA that allows the borrower to qualify for up to $35,000 to fix up a home in need of repair. There are a select number of brokers who are qualified to offer this program and there are certain restrictions so it is important to talk to your lender about it up front. It is a great program and we’ve had several clients use this with their foreclosure purchases.

Why do I need to work with someone who has experience with REOs?
Among other reasons,
1. Banks are picky and when submitting an offer you generally get one shot to make an impression. We have identified key items banks are looking for in offers that when not included can lead to having your offer rejected.
2. Banks like Realtors they know can close a purchase, we have a reputation for closing deals and that reduces the risk for the bank.
3. Depending on the bank that owns the property, it can be difficult to negotiate money for repairs, etc. after your offer has been accepted. So you need to have someone to advise you on what to look for and the potential risks.

Use our property search engine to find foreclosures http://jscarealty.com/mls-search-c10346.html. Get prapproved NOW http://jscarealty.com/jsca-p1792.html

Short Sales: Understanding a Lengthy Process

Beware Foreclosure Rescue Scams

Erica Jones Starkey — Mon, 11 May 2009 21:01:00 +0000

With the recent rise in foreclosures, foreclosure-related scams have exploded onto the real estate scene. These so-called “foreclosure rescue companies” claim they will help save your home, but in reality are out to make a profit — at your expense.

Red Flags for Foreclosure Rescue Scams
If you are at risk of or in foreclosure, you should be on the lookout for foreclosure scams. Here are some of the red flags to watch out for:

• Asks for money upfront before providing any service
• Instructs you not to contact your lender, lawyer, housing counselor, family, friends, or others
• Asks for mortgage payments to be made directly to his or her company or a bank account set up by that person, rather than your lender.
• Requires payment only in the form of cash, cashier’s check, or wire transfer
• Promises to stop the foreclosure process, no matter the circumstances
• Advises you to transfer your property deed or title to his or her company
• Offers to fill out paperwork for you
• Asks for something to be done immediately and without delay. This includes pressuring you into signing paperwork that you have not had the chance to read thoroughly or do not fully understand
• Encourages you to lease your house and buy it back over time
• Offers to buy your house for a fixed price that is not set by the housing market at the time of sale
• Asks for you to give a power of attorney
• Asks for signatures on a grant deed or deed of trust
• Asks for signatures on a document that has lines left blank
• Fails to provide copies of signed documents
• Refuses or fails to put an oral promise in writing
Report Fraud
If you have been a victim of a foreclosure-related scam or approached by a scam artist, you may report the incident to the following organizations and government enforcement agencies:

• California Attorney General http://ag.ca.gov
• California Department of Real Estate www.dre.ca.gov
• Department of Housing and Urban Development (HUD) www.hud.gov
• Federal Trade Commission (FTC) www.ftc.gov
• Your local Better Business Bureau www.bbb.org

Legitimate Resources
If you are at risk of foreclosure or have already received a foreclosure notice, you should contact your lender immediately. Homeowners also may seek the advice of a reputable housing, financial or credit counselor, attorney, or other qualified professional. Homeowners may visit the U.S. Department of Housing and Urban Development (HUD) Web site at http://www.hud.gov/ to view its Guide to Avoiding Foreclosure and its list of California HUD-approved housing counseling agencies. In addition, the non-profit Homeownership Preservation Foundation has a 24/7 toll-free Homeowner’s HOPE Hotline at (999) 995-HOPE.

Published by the California Association of Realtors®