Image: Danilo Rizzuti / FreeDigitalPhotos.net

Good News for sellers:

More homes are selling and they are moving more quickly than a year ago. Existing, single-family home sales increased 1 percent in October to a seasonally adjusted rate of 562,400 units on an annualized basis.

The statewide median price of an existing single-family home increased 0.3 percent in October to $297,500, compared with September 2009.

C.A.R.’s Unsold Inventory Index fell to 4 months in October, compared with 6.1 months in October 2008.

“Home sales historically trail off during the fall and winter months as we move to the off-peak season for the housing market,” said C.A.R. President Steve Goddard. “However, with affordable home prices, mortgage rates hovering around 5 percent, and the extension and expansion of the federal tax credit, we expect first-time and move-up home buyers to drive home sales through the end of this year and into early 2010.” For the first-time since July 2007, sales of homes priced $1 million or more rose in year-to-year comparisons.

“California’s median price rose for the eighth consecutive month in October and sales continued to show strength, signs that California has hit and passed the bottom of this real estate cycle,” said C.A.R. Vice President and Chief Economist Leslie-Appleton-Young. “The number of distressed sales as a share of total sales has shown considerable improvement since the beginning of the year, as a result of loan modifications and other efforts to prevent troubled mortgages from going into foreclosure. This has led to a decline in inventory levels since the start of the year that is more consistent with the price gains we have seen in recent months.”

Great news for buyers:  The Mortgage Protection Program has been extended through 2010.

To continue to provide first-time home buyers with peace of mind when purchasing their first home, the CALIFORNIA ASSOCIATION OF REALTORS® Housing Affordability Fund has extended the Mortgage Protection Program (MPP) through December 2010.

Through the C.A.R. Housing Affordability Fund’s MPP, first-time home buyers who lose their jobs due to layoffs may be eligible to receive up to $1,500 per month, for six months, to help make their mortgage payments. A qualified co-buyer also can participate in the program, and receive a monthly benefit of $750 per month for up to six months.

TO QUALIFY FOR THE MORTGAGE PROTECTION PROGRAM APPLICANTS MUST:
Be a first-time home buyer – someone who has not owned property in the last three years
(includes co-buyer).
Open escrow April 2, 2009, or later, and close on or before December 31, 2010
(purchase agreement cannot be dated before April 2, 2009)

Use a California REALTOR® in the transaction
Purchase the property in California
Be a W-2 employee (cannot be self-employed)

Housing affordability reaches 70.1 in third quarter.

Housing affordability stood at 70.1 percent nationwide in the third quarter, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) released last week.

That means more than 70% of all households in the country can afford to purchase a home. When you consider that so many families are settled in homes they purchased years ago at much lower prices, the percentage of people being able to achieve the American Dream of homeownership is even higher.

Low Interest Rates.

Interest rates have been historically low all year. Average conventional mortgage rates have hovered between 5 and 6 percent through most of 2009 and are currently below 5 percent. Interest rates can have even more impact on the actual cost of homeownership than sales prices.

Extension of first–time home buyers’ tax credit.

First time home buyer $8000 tax credit has been extended till April 30, 2010. Homebuyers who are in transactions of that date can close escrow on or before July 1, 2010 to get the tax credit. The amendment establishes income limits of $125,000 for an individual or $225,000 for a couple. So far an estimated 1.5 million buyers who purchased homes in 2009 are expected to claim the credit and the numbers are growing because of the extension.

New Tax credit for existing homeowners.

Homeowners that have lived in their home for 5 out of the last 8 years can get a tax credit of $6,500 when they buy another home as long as it is going to be a primary residence. In other words the buyers do not have to be first time home buyers. This means, current homeowners who want a home that is larger or smaller or in a different location may be eligible for this tax credit.

Extension of higher conforming loan limits.

Congress has agreed to extend the conforming loan limit from $417,000 to $729,750 through 2010. As you probably know jumbo rates are expensive and more difficult to obtain.

If these are not enough reasons for any buyer or seller to seriously consider buying or selling a house NOW, I wonder what is.

Are you looking to do a short sale? I specialize in Short Sales. I have had a 100% success rate with my short sales. Are you a For Sale By Owner? I can show you ways of selling through Help-U-Sell to save thousands of dollars and sell your home quickly for a low set fee.

Please call Meena Gujral (California Realtor) at 510-279-9580 if you are looking to buy or sell a home in Fremont, Castro Valley, Pleasanton, Dublin, or anywhere in the Alameda County or go to my website at:

Fremont homes for sale

Homes Sold by Meena in Fremont

Fremont Realtors site

As per the Bay East Association of Realtors, Days on Market (DOM) for the Fremont area year-to-date is around 69. The median attached home price in Fremont for September was $561,900. As of the last day of September there were 210 active homes in Fremont. At current selling rates this means there is approximately 1 month of inventory in Fremont remaining. 

	Active	Pending	Sold	Months Supply
Aug 08	449	121	101	3.9
Sep 08	419	93	101	3.8
Oct 08	395	103	93	3.6
Nov 08	367	63	67	3.9
Dec 08	306	68	66	3.7
Jan 09	339	75	55	4.4
Feb 09	353	59	50	5.3
Mar 09	359	110	65	4.6
Apr 09	304	153	78	3.1
May 09	267	161	114	2.2
Jun 09	276	138	106	2.0
Jul 09	266	147	128	1.8
Aug 09	224	153	101	1.5
Sep 09	210	143	124	1.4

Are you looking to do a short sale? I specialize in Short Sales. I have had a 100% success rate with my short sales. Are you a For Sale By Owner? I can show you ways of selling through Help-U-Sell to save thousands of dollars and sell your home quickly for a low set fee.

If you are looking to buy a home in the East Bay,  or a list of Mission San Jose Fremont Homes for sale, Real Estate listings, California Real Estate please call Meena Gujral at 510-279-9580 or go to my website at:

Fremont homes for sale

Homes Sold by Meena in Fremont

When a borrower is no longer in a position to make the mortgage payments, is facing foreclosure and the current market value of the property–including escrow costs–is less than the loan on the property, the borrower may consider a short sale.  This could save the lender the expenses of foreclosure proceedings and from having another REO property on its books.  From the borrower’s perspective, the short sale prevents having the foreclosure on the borrower’s credit history, and releases the borrower from an obligation that he or she can no longer afford.

In essence, a short sale is a sale transaction subject to a lender’s approval in which the lender consents to a sale of the security interest for less than what is owed on the note and accepts the proceeds in full satisfaction of the loan amount.  A short sale requires much paperwork and preparation on behalf of the borrower.  Typically, before applying for a short sale, the seller must have an offer from a ready buyer and all the paper work prepared to present to the lender.  The buyer of the property must also be prepared for a protracted time period to conclude the purchase of the property.

Lenders will report the short sale as being settled for less than the full balance.  This would show up on the borrower’s credit report as a negative mark for seven years. Before a short sale is contemplated, it is strongly recommended that the borrower seek the advice of a professional tax advisor.

The borrower’s home should typically be on the market with a realtor who has the knowledge in negotiating short sales

I am told that lenders would rather do a short sale than a foreclosure, but it certainly does not seem that way when you try to do it.

I have negotiated several short sales so I can speak from experience. I lost a few buyers in the process and had to put the listings back on the market a few times, but after a lot of hard work and patience the properties sold at the short sale.

The real challenge is when there are two loans on the property. You start with the first lender. They do not respond quickly and in a declining market, the value of the home goes lower than the offer that was received. The lender wants to do 2-4 BPO’s on the property. If the BPO comes higher the buyer backs out. The roller coaster starts again. You look for a new buyer, the buyer offers a price that the bank wants, the bank takes a while to look into this offer and finally approves it.

Now you are ready to negotiate with the second lender. They demand that the first lender pay them $10k. The first lender only agrees to $2000-$5000. You go back and forth for a month and the buyer backs out again just when you thought you had done it this time.

Agents are so put off by the whole process that they don’t want to sell a short sale listing. And then there are agents that will list it but are not motivated enough to follow up with the lenders. They think that the lender said they will respond in a week so even when they don’t hear back, they do not want to call the lender again and in a short sales situation, as an agent you need to call the lenders every week and keep following up till the approve the short sale.

From all of this you can see the patience one needs in dealing with the challenges of a short sale. It just does not make sense as to why the banks cannot get their act straight and help in making the short sales easier since it is a win-win situation for them, and the seller who can avoid a foreclosure and of course the agent and the overall market since the foreclosure properties are bringing the prices down.

I have had a 100% success rate dealing with short sales and all the different lenders in the industry. If you are looking to do a short sale and need to talk to a short sale specialist, please call me at 510-279-9580. I would be happy to discuss what it takes to do a successful short sale.

Fremont homes for sale

Mission San Jose listed by Meena

As per the Bay East Association of Realtors, Days on Market (DOM) for the Fremont area year-to-date is around 71. The median single family home price in Fremont for August was $575,000. As of the last day of August there were 224 active homes in Fremont. At current selling rates this means there is approximately 1 months of inventory in Fremont remaining. Inventory is very low and there are many buyers in the market who are unable to find a home. Most listings are selling over asking price with multiple offers in a few days of being on the market.

	Active	Pending	Sold	Months Supply
Aug 08	449	121	101	3.9
Sep 08	419	93	101	3.8
Oct 08	395	103	93	3.6
Nov 08	367	63	67	3.9
Dec 08	306	68	66	3.7
Jan 09	339	75	55	4.4
Feb 09	353	59	50	5.3
Mar 09	359	110	65	4.6
Apr 09	304	153	78	3.1
May 09	267	161	114	2.2
Jun 09	276	138	106	2.0
Jul 09	266	147	128	1.8
Aug 09	224	153	101	1.5

Are you looking to do a short sale? I specialize in Short Sales. I have had a 100% success rate with my short sales. Are you a For Sale By Owner? I can show you ways of selling through                  Help-U-Sell to save thousands of dollars and sell your home quickly for a low set fee.

If you are looking to buy a home in the East Bay, please call Meena Gujral at 510-279-9580 or go to my website at :

http://www.helpusellachievers.com

Homes Sold by Meena in Fremont

My listing in the Mission area

I have had two transactions recently where I have faced appraisal issues in Mission San Jose Fremont, Ca. In one of them I was representing the seller and the property appraised $20K less than purchase price. The buyer and seller agreed to split $10K each where the seller came down $10K and the Buyer brought in an additional $10K and we successfully closed escrow. It really helps when the client is willing to take the advice of the agents and do what is necessary since no one can control the appraisal decisions.

In the second transaction I was representing the buyer and the appraisal was only $10K under the purchase price. The seller refused to budge on their price. The buyer did not have the additional cash plus he felt he did not want to pay more than appraised value. Needless to say we lost the deal and the buyer walked. The seller has not been able to get an offer and the property is still on the market.

As you can see, appraisal issues are everywhere. We need to deal with them and try to make it work out where both the sellers and buyers are satisfied at the end of the day. Putting the house on the market is not the best solution. You will face the same problem again. Plus everyone will want to know why the house came back on the market. When they hear it was because of appraisal issues, the offers will come a lot lower than your last one so you may as well work with what you have in you hand and get it closed. Hope that helps.

If you are looking to sell your home for a LOW SET FEE or how you can save thousands of dollars when buying a home or selling your home, call Meena at 510-279-9580

To see all the homes I have sold and listed in Mission San Jose and other areas of Fremont, go to :

Homes Sold by Meena in Fremont 

http://www.helpusellachievers.com

Meena Gujral, Realtor

Help-U-Sell Achievers Realty

40083 Mission Blvd, Fremont, Ca. 94539

510-279-9580

Sell your home for a Flat Fee with Help-U-Sell Achievers Realty !

1. We handle all negotiations, paperwork, contracts and counter offers to get you the best possible price and maximum net proceeds.

2. We open escrow, manage your transaction through the closing, and communicated with you regularly!

3. We guarantee in writing to advertise your property every Week on many internet websites.

4. We use our exclusive marketing system to get you buyers.

5. We notify potential buyers currently looking for a property like yours.

6. We hold Open House with professional full color property brochures if you chose that option.

7. We cooperate with other agents and put your listing in the MLS if you choose that option.

8. We assist in pre-qualifying buyers and help them obtain financing (there are many options).

9. Take Digital Photos for flyers, internet sites and Virtual Tours. Place Open House ad in more than 20 websites.

10. We itemize your closing costs and give you a written estimate of your net proceeds.

11. We help you avoid problems, assist you should and arise, and work to save you money in all the hidden parts of the transaction.

12. We coordinate with lenders, appraisers, inspectors and other professionals and help you until closing.

13. In other words we are Full Service Realtors with the ability to save you thousands of dollars in commission.

14. We give you staging tips and make your house show its best.

Are you looking to do a short sale? I specialize in Short Sales. I have had a 100% success rate with my short sales. Are you a For Sale By Owner? I can show you ways of selling through Help-U-Sell to save thousands of dollars and sell your home quickly for a low set fee.  I have been selling Real Estate for 23 years.

Please call Meena Gujral (California Realtor) at 510-279-9580 if you are looking to buy or sell a home in Fremont, Castro Valley, Pleasanton, Dublin, or anywhere in the Alameda County or go to my website at: 

Fremont homes for sale

Homes Sold by Meena in Fremont

Help-U-Sell Achievers Realty

510-279-9580

DRE license # 00950378

40083 Mission Blvd, Fremont, Ca. 94539

Fremont home, 94539

As per the Bay East Association of Realtors, Days on Market (DOM) for the Fremont area year-to-date is around 71. The median single family home price in Fremont for July was $550,000. As of the last day of July there were 266 active homes in Fremont. At current selling rates this means there is approximately 2 months of inventory in Fremont remaining.

Information obtained from Data Quick information systems shows Bay Area home sales rose last month to the highest level for a July in four years as deals above $500,000 continued to accelerate. The median sale price climbed above the prior month for the fourth consecutive month, lifted by the combination of more high-end transactions and fewer sales of lower-cost, lender-owned foreclosures.

Loans above $417,000 accounted for 30 percent of Bay Area home sales last month – the highest since they represented 31.9 percent of sales in August 2008. Before the August 2007 credit crunch, such “jumbo” loans over $417,000 represented more than 60 percent of sales.

Sales of $500,000-plus existing single-family detached houses rose to 35.6 percent of all house resales last month, up from 34.1 percent in June and up from a low this year of 22.7 percent in January. Last month’s $500,000-plus sales were the highest since they were 38 percent of sales last September.

As high-end sales have taken off in recent months, sales of foreclosures in less-expensive inland areas have tapered off. Last month 34.2 percent of the Bay Area homes that resold were foreclosure resales – homes resold in July that had been foreclosed on in the prior 12 months. Last month’s foreclosure resale level was the lowest since it was 33.3 percent in July 2008. Foreclosure resales peaked at 52 percent of all Bay Area resales in February this year.

In the San Francisco Bay Area and across California we continue to see the market moving gradually back toward a more normal balance of sales across all price ranges. The high end of the market finally has a pulse and that has led to a swift rise in the median sale price. Evidence is mounting that in some areas we’ve approached at least a soft bottom for home prices. A total of 8,771 new and resale houses and condos sold in the nine-county Bay Area last month. That was up 1.5 percent from 8,664 in June and up 15.6 percent from 7,586 in July 2008. Last month’s sales were the highest for the month of July in four years, and the highest for any month since August 2006.

Based on this information, I would certainly agree that the market is picking up in Fremont and all over the Bay Area.

If you have any other questions or would like to reach me, please call me at 510-279-9580 or go to my website at www.helpusellachievers.com

To see all the homes I have listed and sold in Fremont, go to:

 Homes Sold by Meena in Fremont 

Fremont Homes Blog 

Meena Gujral

Help-U-Sell Achievers Realty

40083 Mission Blvd, Fremont, Ca. 94539

510-279-9580

If you’re the owner and want to sell your home in Mission San Jose, it may be a good idea to get an appraisal before deciding on the price through your realtor. The home prices in Fremont, especially in Mission San Jose area can easily vary by $200K-300K  between similar properties so you want to make sure you are priced at market value to sell quickly. Even though your realtor has the knowledge of the area and can certainly help in providing the comparables, most sellers still want to list their home higher than the recommended price by the agent. Therefore with an appraisal, both the seller and agent know that the property is priced correctly and can handle buyer objections when they have the appraisal report on hand.

A key factor in your home’s valuation is the recent sales prices for houses that have sold within the last 6 months and are comparable to yours and the homes for sale in Fremont currently. But your appraiser may not know if there is some unusual circumstance behind those numbers, such as a divorce or a job relocation. So ask a real estate agent to help you with recent comparable sales in your area and try to get the scoop on the circumstances from your neighbors. Most appraisers will appreciate extra information.

Before the appraiser arrives, prepare your home for the evaluation the same way you would for an open house. Make sure the yard looks good, tidy up the house and pick up clutter from the floors.

An appraiser cannot notice and research every detail of your house and neighborhood. So before he leaves your house, hand him a list of its best attributes. For example are there any recent upgrades or improvements in the house itself, such as remodeled kitchen and baths, new roof, additions with permits, any views or mature landscaping, and the benefits of living in your neighborhood, such as access to top schools or public transportation.

Request a copy of the final report when it’s done; lenders are required to give it to you. Check for errors in key stats, such as square footage, and make sure that the comments portray your property accurately. If you find a mistake, call the appraiser directly and ask him to make the changes.

If you have any questions about Fremont homes for sale in California or are looking for homes for sale in Ardenwood, Mission San Jose Fremont, or looking to sell your home in Fremont, please call me at 510-279-9580. I can tell you how I can save you thousands of dollars when selling through Help-U-Sell Achievers Realty.

Homes Sold by Meena in Fremont

You can also go to my website at http://www.helpusellachievers.com and sign up there to receive automatic e-mails when a new listing comes on the market matching your criteria.

Meena Gujral

meena.gujral@comcast.net

Help-U-Sell Achievers Realty

40083 Mission Blvd, Fremont Ca 94539

510-279-9580

Shopping for a home is an emotional experience. I am going to share some tips on making your home purchase in Mission San Jose, Fremont less stressful and more enjoyable.

The first step should be to get financing pre-approval. When you are shopping for a home, this gives you more power. A seller is more likely to consider an offer from a serious buyer. Plus you will know what your price range should be. You may be looking at homes that you really want to buy but cannot qualify for.

Determine what your needs and wants are in a home? How much space do you really need?  Outline all of your priorities, and work on finding not just a great home, but a great home for you.

What price do you offer a seller? Is the seller’s asking price at fair market value? Is it a deal? Without knowledge of the market, your offer could be too much. Or worse, you could miss out on a great buying opportunity. Hire the right Realtor and trust that person to represent your interests. In this market the lenders have very strict guidelines for their appraisals. So even if you are willing to pay the seller more than asking price in a multiple offer situation, the appraisal may come in lower and you may be back at the negotiating table.

Make sure you get an inspection on the home. A good inspection will uncover any flaws you need to be aware of before you complete the purchase of the home. Your offer should be contingent to disclosure, inspection, appraisal and loan contingency.

Check the title of the property to make sure it is free of all encumbrances. Your Realtor can supply you with a copy of the title to ensure there are no liens, debts, undisclosed owners, leases or easements against the title.  

 Meena Gujral

Help-U-Sell Achievers Realty

510-279-9580

http://www.helpusellachievers.com

As per the statistics from the Bay East Association of Realtors, Days on Market (DOM) for the Fremont area year-to date is around 76. The median single family home price in Fremont for June was $549,000. As of the last day of June there were 276 active homes in Fremont. At current selling rates this means there is approximately 2 months of inventory in Fremont remaining.. 

The market is changing from a buyer’s market to once again a seller’s market. I am finding multiple offers in many areas in the East Bay especially in Mission San Jose, Fremont, California.

 If there is anything you need to know about Mission San Jose, Zip Code 94539 in Fremont or Fremont California schools, you can reach me at 510-279-9580. You can also go to my website at http://www.helpusellachievers.com

Homes Sold by Meena in Fremont 

To see all my virtual tours click:

Meena’s Virtual Tours

 

Meena Gujral

Help-U-Sell Achievers Realty

510-279-9580