Still in hot demand Fremont continues to experience an insultated compontent to much of the weakened Real Estate Values throughout the U.S.
But REO properties are still on the rise. As of this moment 35 Detached properties in Fremont are REO, 23 of which are less then $500,000 and 9 are less then $400,000 which continues to attract First Time Buyers and Investors.
Remember that on REO, typically the seller is picking up the costs of Title and Escrow since they are choosing the Title and Escrow Company and in many cases the Home Warranty however properties are sold AS IS, and it is the responsibility of the Buyer to know how that will effect ownership, care and repair.
Also, the buyer and buyer's agent need to be aware of the CC&R's and Home Owner Association.
Details matter - and the rules are some what different with REO'S - Don't be Caught Off Guard. Be Aware!
Happy Shopping this Weekend. Weather will be warm and buyers will be out in numbers.
Friday, July 25, 2008
Monday, July 21, 2008
WHAT'S HOT and WHAT'S NOT
So are you wondering - WHAT'S HOT and WHAT'S NOT - well in FREMONT/Real Estate - here's the skinny.
496 Detached Homes are currently For Sale in Fremont. The numbers are increasing, but that doesn't mean that the picture is bleak.
The new Trendgraphix numbers have been released and Fremont is still holding strong in sales. Which confirms it's continued desirability. Naturally high on everyone's list is Mission San Jose, Irvington and Ardenwood, but a buyer shouldn't over look some of the other wonderful opportunties avaiable.
29 Detached Homes in Fremont are reported as BANK OWNED (REO) properties. Only one REO is currently showing in the Mission San Jose area; however many others offer some great opportunties for either first time buyers or investors.
62 Detached Homes in Fremont are reported as SHORT SALE. But remember a key element in Short Sales, they can offer wonderful benefits to a buyer who is prepared to endure the race to the finish. Short Sales are not historically short escrows - also many homes are priced 'artifically' to accumlate interest and get he process going with a Bank Negotiator.
So if you are watching the Fremont market THERE IS A LOT OF HOT PROPERTIES.
496 Detached Homes are currently For Sale in Fremont. The numbers are increasing, but that doesn't mean that the picture is bleak.
The new Trendgraphix numbers have been released and Fremont is still holding strong in sales. Which confirms it's continued desirability. Naturally high on everyone's list is Mission San Jose, Irvington and Ardenwood, but a buyer shouldn't over look some of the other wonderful opportunties avaiable.
29 Detached Homes in Fremont are reported as BANK OWNED (REO) properties. Only one REO is currently showing in the Mission San Jose area; however many others offer some great opportunties for either first time buyers or investors.
62 Detached Homes in Fremont are reported as SHORT SALE. But remember a key element in Short Sales, they can offer wonderful benefits to a buyer who is prepared to endure the race to the finish. Short Sales are not historically short escrows - also many homes are priced 'artifically' to accumlate interest and get he process going with a Bank Negotiator.
So if you are watching the Fremont market THERE IS A LOT OF HOT PROPERTIES.
Thursday, July 17, 2008
NEGOTIATED COMMISSOIN Who Pay's What
So is it OK to ask an agent to discount their commission - well that question has so many answers. Of course it's a reasonable question. But here are some facts you'll want to consider:
If you're a Buyer you are not paying any of the commission your agent is receiving.
So is it fair to still ask for something - well Yes, you should ask but you shouldn't allow the answer to determine whether or not you will work this Agent.
For example: You are buying a home in an area where you are relying heavily upon the agent to be familiar with. You are relying upon your agent to find the property and bring it to your attention quickly, securing you an opportunity to view it early on. You are dependant upon your agent to help you navigate through the inspections, disclosures, explaining in detail their impact and effect on you as they buyer. You are looking for your agent to maximize your position in drafting a strong contract yet offering you every protection possible to minimize risk.
While you continue to work your full time job, you're hoping your agent is dedicated to serving your interests in this purchase with full time commitment.....
Does it sound like I am making a case here - well I am - shared commission essentially equates to Discount Service - which is great if the most important question is 'will that be for here or to go?' but you the buyer are making a huge investment and have aligned yourself with an expert who you want to discount their paycheck.
Half hearted I ask Buyer's - Since you are asking me to share my income with you, will you allow me to stay in your home with you? Or would you rather I reduce the care and attention You need me to provide to assure you of a Swift, Safe and Successful Escrow?
Discounts mean - receiving goods or service at a price less then expected, well in Real Estate it means - Less commission, less effort. And those who disagree are trying to speak from two sides of their mouth - you can't provide a level of expertise at below market rate and not see something suffer.
Of course, there are plenty of Part Time Realtors, or those desperate for a sale that they'll promise you almost anything - but Buyer Beware - you better know up front what those who discount plan to do and what those who won't discount will do.
So if you are interviewing people - ask them to provide you with their standards of care and compare it to Full Service Agents.
Good Luck!
If you're a Buyer you are not paying any of the commission your agent is receiving.
So is it fair to still ask for something - well Yes, you should ask but you shouldn't allow the answer to determine whether or not you will work this Agent.
For example: You are buying a home in an area where you are relying heavily upon the agent to be familiar with. You are relying upon your agent to find the property and bring it to your attention quickly, securing you an opportunity to view it early on. You are dependant upon your agent to help you navigate through the inspections, disclosures, explaining in detail their impact and effect on you as they buyer. You are looking for your agent to maximize your position in drafting a strong contract yet offering you every protection possible to minimize risk.
While you continue to work your full time job, you're hoping your agent is dedicated to serving your interests in this purchase with full time commitment.....
Does it sound like I am making a case here - well I am - shared commission essentially equates to Discount Service - which is great if the most important question is 'will that be for here or to go?' but you the buyer are making a huge investment and have aligned yourself with an expert who you want to discount their paycheck.
Half hearted I ask Buyer's - Since you are asking me to share my income with you, will you allow me to stay in your home with you? Or would you rather I reduce the care and attention You need me to provide to assure you of a Swift, Safe and Successful Escrow?
Discounts mean - receiving goods or service at a price less then expected, well in Real Estate it means - Less commission, less effort. And those who disagree are trying to speak from two sides of their mouth - you can't provide a level of expertise at below market rate and not see something suffer.
Of course, there are plenty of Part Time Realtors, or those desperate for a sale that they'll promise you almost anything - but Buyer Beware - you better know up front what those who discount plan to do and what those who won't discount will do.
So if you are interviewing people - ask them to provide you with their standards of care and compare it to Full Service Agents.
Good Luck!
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