KRON4 News Interviews Glen for Bay Area Housing Segment
MEBA team member (and resident housing analyst) Glen Bell was recently featured in a piece that KRON4 news did on the Bay Area housing market. Its always an adventure to see what makes it into the finished piece, but I think it came out pretty well.
To recap Glen’s points:
- Sellers aren’t getting the prices that they were getting several years ago & everybody is reluctant to take less.
- We’re looking at another 3-5 years where local housing markets are going to be relatively flat.
- Still, with prices coming down as far as they have, combined with historically low interest rates, it makes for one of the best buying opportunities that we’ve seen in a long time.
Berkeley REO Market Update
Looking to buy a Berkeley Foreclosure?
We specialize in Bank Owned foreclosures (REOs). If you’re looking to buy one, below are links to the active REOs currently on the market in Berkeley. If you want more details on a certain one, you can click the address & it will take you to the detailed listing page for that property.
This week, we had a buyer client ask about the listing at 1225 Dwight Way. We checked it out and shot a video walkthrough to send to him. It turns out that it needs too much work & it’s not for him, but we’re happy to provide this service to our active clients… so if you’re serious about buying, get in touch with us via the contact form at the bottom of this post & we can do the same for you.
Showing properties
1 - 10 of 19.
See more Berkeley REO.
(all data current as of
2/22/2012)
-
$319,000 : 1419 ASHBY AVE, Unit: A, BERKELEY2 beds, 2 full baths
-
$299,000 : 1419 Ashby Ave., Unit: B, BERKELEY2 beds, 2 full baths
-
$319,900 : 1425 67TH ST, BERKELEY3 beds, 1 full, 1 part baths
-
$474,900 : 2218 WOOLSEY ST, BERKELEY2 beds, 1 full bath
-
$339,900 : 1310 ALCATRAZ AVE, BERKELEY3 beds, 1 full bath
-
$503,900 : 2425 EDWARDS ST, BERKELEY3 beds, 2 full baths
-
$369,900 : 2418 SACRAMENTO STREET, BERKELEY2 beds, 1 full bath
-
$324,900 : 1627 ASHBY AVE, BERKELEY4 beds, 1 full bath
-
$314,900 : 2633 MABEL STREET, BERKELEY2 beds, 1 full bath
-
$599,000 : 1225 Dwight Way, BERKELEY3 beds, 2 full baths
Listing information deemed reliable but not guaranteed. Read full disclaimer.
Real Estate Investors are Now Officially the Good Guys
From Home Rentership Society – Realty Check with Diana Olick
All-cash investors are flooding the market, buying up distressed properties at deep discounts. [Secretary of Housing and Urban Development, Shaun] Donovan claims investors are no longer the pariah’s of the housing market; they are in fact the bulk of today’s buyers of distressed properties. At the height of the housing crash, President Obama made clear that the housing/mortgage bailout was not for investors, who bought properties with money they didn’t have, but only for owner-occupants (who also, by the way, bought properties with money they didn’t have).
The tides have turned.
“Clearly investors coming in to buy some of these homes is a key part of how these neighborhoods recover,” Donovan says. “We’re focused on, for example with REO [bank-owned] homes, investors to purchase them and get the financing they need to fix them up.”
Real Estate investors will play a key role in the eventual recovery of the real estate market. Any way you look at it, there’s a backlog of distressed properties that we’re going to deal with before we can return to a more normalized real estate market. Investors are waiting to purchase these properties, improve them and sell their end product to happy new homeowners paying full market value, which in turn will help their communities re-establish their value.
We’re excited to be a part of this recovery and we’d love to have you join us.
East Bay Investment Opportunity [4-Plex] – 908 Trenton Blvd. in San Pablo, CA
If you’re looking for a buy & hold investment in the East Bay, you might want to consider this 4-plex in San Pablo. MyEastBayAgent team member Norman Gee found this property property while sifting through the MLS.
He ran a projected cash flow analysis, which you can download here. In his analysis, he projects on the low end, an Internal Rate of Return over 20% with annual cash flows >10K.
If you’re interested in this property (or want us to find you another East Bay investment property), call or email Norman directly. 510.552.0878 or email him norman [at] myeastbayagent dot com.
If you would like to be added to our East Bay Investor list, enter your email below and we’ll be happy to send potential deals your way.
Listing information deemed reliable but not guaranteed. Read full disclaimer.
Listing provided by Atlantic & Pacific Real Estate
We're sorry, but we couldn't find MLS # 40518205 in our database. This property may be a new listing or possibly taken off the market. Please check back again.
Is a Short Sale Really Better for Your Credit than a Foreclosure?
Is a short sale better for my credit score compared to a foreclosure?
It’s a question that we get over and over again. You’d think it would be obvious that a short sale would be better, but that’s not exactly the case. I came across a post on the FICO Banking Analytics blog titled “Research looks at how mortgage delinquencies affect scores” that I think helps to shine a light on how short sales and foreclosures affect FICO scores.
What stood out to me is that there’s virtually no difference in the both the impact of a short sale (w/ deficiency balance) & a foreclosure to a borrower’s FICO and also the time needed for that person’s score to fully recover. Additionally, a consumer with a higher FICO score to begin with will take a bigger initial hit and will take longer for their score to recover to pre-sale levels.
Explore East Bay Price Reductions w/ Trulia’s New Visualization Tool
If you’re an East Bay housing data geek like us, you’re going to want to check out the latest visualization from Trulia.
Through this data visualization, you can hover over a zip code and you’ll find: the days before the first reduction, the average percent reduction & the probability of a second reduction.
Although there seems to be a data black hole in Berkeley, I found myself spending some time exploring trends in the different areas. Give it a try and let me know what you think!
San Pablo Multi-Unit Investment Opportunity – 1260 Sanford Ave.
We’re constantly coming across East Bay investment opportunities that might be a good fit for our readers/potential clients and starting with this post, we’re going to start passing them along. If you’re interested in having us sending any future deals directly to your inbox, there’s a place at the bottom of this post where you can enter you email & we’ll be happy to pass them along.
To kick things off, here’s a San Pablo investment opportunity that is just hitting the market. It’s a 4-plex with three occupied units. It’s a potential short sale listed by an experienced short sale team that just happens to be down the hall from us, so if you’re interested in more info, call or email Norman (nngee@comcast.net / 510.552.0878) and we’ll take good care of you.
Click here to download a cash flow analysis for 1260 Sanford Ave
If you’re interested in hearing about other opportunities like this, enter your email below and we’ll let you know.
Top 8 Luxury Bank Owned Homes for Sale in Berkeley, Ca
Showing properties
1 - 8 of 19.
See more High End Berkeley REO.
(all data current as of
2/22/2012)
-
$599,000 : 1225 Dwight Way, BERKELEY3 beds, 2 full baths
-
$503,900 : 2425 EDWARDS ST, BERKELEY3 beds, 2 full baths
-
$474,900 : 2218 WOOLSEY ST, BERKELEY2 beds, 1 full bath
-
$429,900 : 1318 Kains Avenue, BERKELEY3 beds, 1 full, 1 part baths
-
$400,000 : 2022 WOOLSEY ST, BERKELEY3 beds, 1 full, 1 part baths
-
$399,900 : 2113 7TH ST, BERKELEY3 beds, 2 full baths
-
$384,900 : 1831 Woolsey Street, BERKELEY3 beds, 1 full bath
-
$369,900 : 2418 SACRAMENTO STREET, BERKELEY2 beds, 1 full bath
Listing information deemed reliable but not guaranteed. Read full disclaimer.
Equal Housing Opportunity. Equal Opportunity Employer.
©2012 Bay East. ©2012 CCAR. ©2012 EBRD. All rights reserved. Information deemed reliable but not guaranteed. This information is provided from three separate sources: Bay East, CCAR and EBRD. The listings presented here may or may not be listed by the Broker/Agent operating this website. Information last updated on 2/22/12 8:36 AM PST.