John Pinto's Real Estate Blog http://johnvpinto.com Realty World - John V. Pinto & Associates, Inc. Tue, 21 Feb 2012 19:46:09 +0000 http://wordpress.org/?v=2.9.1 en hourly 1 Update on the state of the Bay Area Real Esate Market http://johnvpinto.com/2012/02/21/update-on-the-state-of-the-bay-area-real-esate-market/ http://johnvpinto.com/2012/02/21/update-on-the-state-of-the-bay-area-real-esate-market/#comments Tue, 21 Feb 2012 19:46:09 +0000 John Pinto http://jpinto.blogs.rwnetwork.com/2012/02/21/update-on-the-state-of-the-bay-area-real-esate-market/ John V. Pinto’s Update on “The State of the Bay Area Real Estate Market”

The action has been hot and heavy. Here are the components;

*Cash investors are feverishly going after lower end homes that pencil out as good rentals.

*First time buyers are unhappy with high rents and scarce availability of rental homes. They are trying to get into escrow with 96.5% LTV FHA financing and fighting a tough fight against the cash investors.

*Trade up buyers are coming off the sidelines in droves to get into better neighborhoods with better schools, but the combination of 2.7% high tech unemployment , feverish recruiting of workers and low inventory is making competition for these $1,000,000+ homes fierce.

The takeaways for real estate buyers are;

Have a copy of your deposit check, proof of funds to close and loan preapproval docs available to accompany each offer.

• Be active and involved in your home search. Constantly refine your search criteria.
• Make time available to look at homes and make offers regularly.
• Don’t’ hesitate to make “backup” offers .
• If a property has impossible showing restrictions , make an offer “subject to inspection”.
• Don’t put too much stock in the “listing price”. It could be disingenuous, high or low. Make offers based on a thorough Competitive Market Analysis.
• Be aggressive on your offer price . Don’t worry, you have plenty of contingencies in the offer to protect you from mistakes.

The takeaways for real estate sellers are ;

*Price your home right and let the market competition provide the upward buoyancy on your selling price.
*Order roof , pest and home inspections in advance, to avoid 11th hour renegotiations.
*Put your home up for sale now, when inventory is low, rather than in the spring, when you’ll have more inventory to compete with.
*If you are a “Short Seller” , don’t wait until you’re out of cash to put your house on the market. Do it now, and start replenishing your cash reserves.

For more information or any real estate help for you are your friends , don’t hesitate to text , email or call me today.

John V. Pinto , Broker/Owner

http://siliconvalleyhomesearch.listingbook.com/

http://jvpinto.com

Cell/Text 408-829-4141
DRE Lic. # 00472007

]]> http://johnvpinto.com/2012/02/21/update-on-the-state-of-the-bay-area-real-esate-market/feed/ 0 New Short Sale listing in Napa http://johnvpinto.com/2011/06/29/new-short-sale-listing-in-napa/ http://johnvpinto.com/2011/06/29/new-short-sale-listing-in-napa/#comments Wed, 29 Jun 2011 16:43:28 +0000 John Pinto http://jpinto.blogs.rwnetwork.com/2011/06/29/new-short-sale-listing-in-napa/ Bargain Priced 3/2 detached home for only $178,888. Walk to Downtown Napa. Perfect for investors, first time buyers and second Wine Country home buyers. Contact me for a showing.

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