Vacation Home, Rental Property, or Both — Income Producing Multi-Unit River Front Property Only $750,000!

Hi all. I have a great investment opportunity for someone who is looking to do a 1031 Exchange, purchase a multi-unit income producing property, purchase a river front vacation property that produces income or even a potential flip. I have a very unique river front multi-unit multi-parcel property on Hwy 116 that you or someone you know may be interested in. It belongs to a long time friend of my family who has lived there for 30+ years and is now selling it. It pretty much pays for itself and would be a great investment for someone who wanted to live in one unit and rent out the others, rent some of the units and use one as a vacation home or AirBNB or rent out all the units. Let me know if you or someone you know is interested and I can schedule a showing! Here is a link to the details with pics and a drone video. My number is (925) 577-8692

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http://nopressurerealty.com/listings/0,115128/18135-Hwy-116-Guerneville-CA-95446/

Oakland Rent Moratorium: On Tuesday, April 5 the Oakland City Council Adopted a 90-Day Limit on Increasing Rents

Oakland Rent Moratorium: On Tuesday, April 5 the Oakland City Council adopted a 90-day limit on increasing rents on many residential properties in the city. It appears single family homes and condominiums are exempt from the temporary rent restrictions.

For information about which units are subject to the moratorium and what types of rent increases may be permitted please contact Connie Taylor, Rent Adjustment Program Manager at: ctaylor2@oaklandnet.com or (510) 238-6246

The Robin Bird Team, Residential Real Estate Specialists, serve Oakland and Most of the Greater Bay Area with offices in Oakland and Livermore. Contact Robin at 925-577-8692 for Residential Real Estate Questions and assistance.Robin@NoPressureRealty.com

It is Now Legal to Short Sale Your Home, Lease it Back, and then Buy it Later at Today’s Low Price!!

Ever since I have been helping homeowners short sale their properties since 2007, I have been asked two common questions:

 

1) Can I stay and lease back my house from the new owner?

2) Can I short sale the property to myself or buy it back later after I do a short sale?

 

Until recently, many banks would not allow a seller to remain in a property as a renter after they completed a short sale and none would allow an agreement that would arrange up front for the seller to potentially buy back the home at the cheaper price.

 

Now, those two things are legally possible if the seller/borrower qualifies and their bank agrees!

 

Making Home Affordable Program – Administrative Clarifications Supplemental Directive 11-02 March 30, 2011 Page 8 states the following:

 

Supplemental Directive 11-02 March 30, 2011 Page 8 states the following:

 

Sales to Non-Profit Housing Organizations

Section 7.3 of Chapter IV of the Handbook requires that a short sale be an arm’s length

transaction. This Supplemental Directive amends this restriction to allow servicers the discretion to approve sales to non-profit organizations with the stated purpose that the property will be rented or resold to the borrower, so long as all other HAFA program requirements are met.

 

Servicers offering programs of this type must include program descriptions and conditions in their HAFA Policy. Servicers must retain in the servicing system and/or mortgage file the evidence provided during the HAFA evaluation demonstrating that the organization was a nonprofit organization.

 

Under these circumstances, servicers must remove certain of the applicable “arm’s length

transaction” requirements from the SSA, the Request for Approval of Short Sale and the

Alternative RASS. These forms will be updated to reference these changes and will be available on www.HMPadmin.com.

 

Not All Agents Are Certified to Assist Homeowners With This Process!

 

In order to provide the service to homeowners, agents have to be certified with one or more of the approved NonProfit organizations. I am one of the very few agents in the East Bay, Tri-Valley area who are certified with one or more of the approved NonProfit Organizations to offer this program to homeowners. Fresh Start is one of those programs.

 

 

Like with any program, not every homeowner will qualify, but if you would like more information about the HAFA Short Sale Lease back Program and to see if you may qualify, feel free to give me a call at 925-577-8692, send me a message through this site.

 

My goal is to always help homeowners know what all their options are in order to avoid foreclosure so  they can make the best choice for their situation and family. I love helping people find a way to stay in their home when that is what they really want to do and I look forward to being able to help people do just that with this program!

Beware of Latest Real Estate Rental Scam in Livermore, and the East Bay Area

Renters, Landlords with Vacant Properties & Sellers with Homes on the Market, Beware of Latest Real Estate Rental Scam in Livermore, the Tri-Valley, East Bay Area, Online, and on Craigslist

There is a real estate scam that is taking place in the Bay Area that I have personally witnessed. Long story short, the Bay Area Real Estate Rental Scammers are renting-out properties that they do not own! There are variations of the three scenarios below. They go something like this:

1) A scammer locates a vacant property and begins marketing it for rent as if they own it; sometimes the window covering have been left up so people can actually see inside. Sometimes the scammer says that they live out of the area or out of the country, has the tenants answer a few questions via email, and agrees to rent the property to someone and send them the keys once the prospective tenant sends them the deposit funds and sometimes first month’s rent; money is sent. Of course, when the people send the money, they do not receive the keys. They same property is supposedly “rented” to several people who send in money and do not receive keys.

2) The scammer locates a vacant property that is not for sale and changes the locks on it and shows the home as if he is the owner. He then writes up a bogus rental agreement, collects the money and gives the tenants the keys to the property; sometimes they collect rent for a while, but usually they disappear after the keys are given. The “tenants “ move in and later either the actual homeowner or the bank, if the property has been foreclosed on, discovers that these “tenants” are living in the property and have to deal with getting them out.

3) A similar scenario is that the home is actually listed for sale or rent (it may or may not be vacant) and the Bay Area Real Estate Scammer snags the photos, property descriptions and such from the online listing sites and advertises the property online as if they own it and tells people that the current tenants are not being cooperative for showings, so they will have to rely on the marketing photos if they want to rent the property. Sometimes the person is local and sometimes not, and the rest of the story goes like scenarios 1 & 2 above.

I have seen both scenarios #1 and #3 personally. I saw and see #1 on Craigslist.org quite often. Scenario #3 happened with one of my listings in Dublin. The prospective tenants actually knocked on the door of the property with the Craigslist posting in hand and asked the homeowners/sellers, whom they thought were the uncooperative tenants, if they could see the inside of the townhouse style condo since they could not see through the windows. The sellers got a copy of the marketing info the people got from Craigslist and emailed it to me. We flagged the posting on Craigslist and researched to see what kind of action could be taken. Sellers reported it to the Federal Trade Commission, but nothing came of it.
The craigslist ads usually have an anonymous email address, so unless Craigslist gets involved, there is no way to track who posted the ad.

If you own a vacant property, make you or someone you know goes into the property on a regular basis and make sure that the locks have not been changed , no one has moved in, that nothing is out of place, and there are not any signs that someone has been in the property or walking around it. You should notify the neighbors of the vacant property regarding whether or not there should be people coming or going, so they can help you keep an eye out. Keeping mail from being delivered there, newspapers out of the driveway, marketing flyers off the front door and porch, the blinds shut, and the gates locked help to keep people who should not be on your property away.

If you are looking to rent a property, make sure that the person trying to rent it to you actually owns the property! You can find out by giving the name of the “owner” and the property address to me or a real estate agent you know and we can quickly pull the county records for you and let you know if you are actually dealing with the owner of the property or not.

If you would like a free list of all the homes for lease that are listed with agents, just email me your criteria (for ex. cities, min bedroom and baths, max rent per month, if you have any pets, and any other requirements you have) and I will set up a free Client Portal for you on my site http://nopressurerealty.com/ and will send you notifications of homes listed for rent by agents on the MLS and any new ones that come on the market. You can also visit my website and search for rental properties without setting up a Client Portal for free and without obligation. You will need to click on the Homes for Sale link , enter your search criteria and then select “lease” as property type. You can come back as often as you like to search homes or if you want to be sent automatic updates of homes that meet your criteria, you will need to quickly set-up a free Client Portal on my site, input your search there and select automatic notifications.
I hope this information allows you to avoid being scammed in Livermore, the Tri-Valley, and the East Bay Area!