A Brief Guide in Buying Oakland Foreclosed Homes

They say that one man's trash is another man's treasure. Although home foreclosure in Oakland, California can be considered a tragedy it can also be a blessing for others. Gas prices are not the only ones that continue to rise. Residential properties in Oakland are also expensive. Their prices also vary from one place to another. Due to this other people take advantage of foreclosure auctions in Oakland. 

Repossessed Oakland homes can be great for those who simply cannot afford a new house. These Oakland houses are sold for a fraction of their real price when sold in the real estate market. Other people can also take advantage of these houses to be able to make their own investments since they are sold by mortgage lenders at a low price.

Unfortunately most repossessed Oakland houses are those which require a lot of repairs. Previous homeowners do hot have the means to maintain the house or just didn't take care of them. Some of these houses have also been abandoned by their previous homeowners and mortgage lenders have no choice but to get rid of them immediately.

Do your homework

Before you buy a Oakland repossessed home you need to make sure that you're going to get a good deal. You may have to do a little bit of research first to be able to see how much you will have to spend in buying and repairing the property.

If you don't have any cash on hand for the moment, you can get a loan. Have a consultation first with an agent to see if you are qualified. If you are qualified gather the information you need.

You will be able to find a list of Oakland foreclosure homes on the internet. www.CaliforniaForeclsoureWebsite.com The list will also be published in local newspapers. You can also find information for auctions online. After you have gathered enough information visit the houses to stake out possible properties that you can buy.

Determine your budget. How much are you willing to pay for the repossessed house along with the repairs? If you're planning to resale the house ask your Oakland agent, Scott Thompson 510-410-2003, to calculate the property's value. If you're planning to lease it after buying the property, calculate the monthly rate and do some market research.

Once all the research and calculations have been done place a good bid on the property. After you have purchased the house have it inspected and appraised. Then look for a title company to research the history of the house. When you're satisfied with your repossessed house you can now start the repairs or live in it.

FOR IMMEDIATE RELEASE

Internet Lead Generation For The Real Estate Market Has Just Gotten Easier Thanks To Scott Thompson

In this fast paced world, time is of the essence, and time is money. How much time and money are you throwing way?  Now, Scott Thompson, a fellow Real Estate guru has written for you an exciting book on Internet real estate.  This thorough and easy to read book works as a Real Estate insider’s guide to internet leads, marketing how-to’s, easy to use websites, how to use pay per click for maximum effectiveness, and so much more.

Throughout the years, the Real Estate industry has continually proven how crucial certain key elements are to making it big in the Real Estate world. Thompson's coveted strategies let you tap into an endless stream of deals and leads and endless advertising methods that really work. If you are serious about Real Estate, you can make it BIG if you follow the advice in this book.

Scott Thompson, author of Internet Real Estate Agent: A Guide To Dominating  Internet Real Estate Leads & Marketing, is a leading Real Estate Realtor® in California. His experience has led to the amazing secrets you will find in this book.  “Ninety percent of my business comes from the internet” states Scott, “Whether you’re new to the industry or an experienced Realtor®, this revolutionary book will be beneficial to you.”

The goal of Internet Real Estate Agent is to show the readers the hidden gems of online real estate marketing; teach the many secrets of internet technologies to help save them time and money and help them to avoid the pitfalls. “No one is currently teaching real internet advertising skills to agents, only old traditional advertising” Scott Thompson adds, “I want to educate real estate professionals to increase their business by using the power of the internet.” 

This valuable book is available online at www.AgentWisdom.com. All book purchases allow instant, access to the exclusive member Blog where like-minded Real Estate professionals can ask questions, get answers and share ideas.  To find out more, visit the website or call Scott Thompson at (510) 410-2003.

www.AgentWisdom.com

www.PiedmontRealEstate.biz

www.BerkeleyRealEstate.biz 

Need Extra Space? Try Storage in Oakland


By Scott Thompson, Realtor
Prudential California Realty
510-410-2003

If lack of space for your belongings is an issue for you, off-site storage in Oakland may be the right solution. You don’t have to be a pack rat to find yourself needing extra space. You could be renovating a room and need somewhere to house the contents. Perhaps you need to move into smaller quarters temporarily while you’re waiting to move into a new Oakland home. Or you may need to create a spacious look for your Oakland home while it is on the market.
Renting storage space in Oakland is a pretty simple process, especially when you plan ahead. Here are helpful tips for choosing a Oakland storage facility and protecting your property:
Shop around to find the Oakland storage facility that best meets your needs such as storage size, price, accessibility and security.
When shopping for a Oakland storage facility, you will need to know what size unit is required to hold your possessions. Typically you can choose a space from as small as 5’x5’, which is the size of a small closet and holds between 10-15 boxes, to 10’ x 25’, which is about the size of a single-car garage. The Oakland storage facility’s representative can help decide what is the best size for you.
You also want to make sure that your items will be secure. Ask questions such as: Is there a guard on duty? Video surveillance? Alarms? Do you need to provide your own lock? Is the area well lit?
In addition, don’t assume that the Oakland storage facility, or your Oakland homeowner’s or Oakland renters insurance, covers your belongings in case of theft or damage. Most Oakland storage centers assume no responsibility for your items, so talk with your insurance provider.
You also want to have reasonable access to your belongings. Find out the Oakland facility’s hours of operation and the name of a contact person.
Before signing any agreement, inspect the facility and your storage unit for cleanliness and signs of proper maintenance. Is the area well protected from rain, snow or humidity?
Make certain that you understand the Oakland storage rental agreement and get a copy of the contract. Are you renting on a month-to-month or a six-month basis? Is there a deposit? Does termination of the agreement need to be in writing? How much advance notice do you have to give?
Before moving your possessions to the Oakland storage unit, take actions to protect them from damage or theft. While packing, label boxes on each side by numbers rather than content. Make a master inventory list so that you know what is in each box, as well as furniture and other unpacked items. Don’t use newspaper as packing paper because it may smudge off on your items.
Prepare your unit by placing plastic on the floor. If you will be moving in large furniture, lay down blankets or sheets as well. Then store your most valuable possession first, toward the back. Store frequently used items at the front. Make sure that you leave a walkway so you can access your belongings. In addition, leave a small space between the objects and the storage unit’s walls.
No matter what the reason, using an Oakland off-site storage unit is a good solution for your short-term space challenge. Just make sure that you understand the terms of your agreement and that your belongings are secure.
Scott Thompson, Realtor can be reached at (510) (410-2003). Prudential California Realty is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company.

The ABC’s of Closing Costs


By Scott Thompson, Realtor
Prudential California Realty

You’ve found your dream home, the seller has accepted your offer, your loan has been approved and you’re eager to move into

your new home. But before you get the key, there’s one more step—the closing.
Also called the settlement, the closing is the process of passing ownership of property from seller to buyer. And it can be

bewildering. As a buyer, you will sign what seems like endless piles of documents and will have to present a sizeable check

for the down payment and various closing costs. It’s the fees associated with the closing that many times remains a mystery

to many buyers who may simply hand over thousands of dollars without really knowing what they are paying for.
As a responsible buyer, you should be familiar with these costs that are both mortgage-related and government imposed.

Although many of the fees may vary by locality, here are some common fees:
• Appraisal Fee: This fee pays for the appraisal of the property. You may already have paid this fee at the beginning

of your loan application process.
• Credit Report Fee: This fee covers the cost of the credit report requested by the lender. This too may already have

been paid when you applied for your loan.
• Loan Origination Fee: This fee covers the lender’s loan-processing costs. The fee is typically one percent of the

total mortgage.
• Loan Discount: You will pay this one-time charge if you have chosen to pay points to lower your interest rate. Each

point you purchase equals one percent of the total loan.
• Title Insurance Fees: These fees generally include costs for the title search, title examination, title insurance,

document preparation and other miscellaneous title fees.
• PMI Premium: If you buy a home with a low down payment, a lender usually requires that you pay a fee for mortgage

insurance. This fee protects the lender against loss due to foreclosure. Once a new owner has 20 percent equity in their

home, however, he or she can normally apply to eliminate this insurance.
• Prepaid Interest Fee: This fee covers the interest payment from the date you purchases the home to the date of your

first mortgage payment. Generally, if you buy a home early in the month, the prepaid interest fee will be substantially

higher than if you buy it towards the end of the month.
• Escrow Accounts: In locations where escrow accounts are common, a mortgage lender will usually start an account that

holds funds for future annual property taxes and home insurance. At least one year advance plus two months worth of

homeowner’s insurance premium will be collected. In addition, taxes equal approximately to two months in excess of the

number of months that have elapsed in the year are paid at closing. (If 6 months have passed, 8 months of taxes will be

collected.)
• Recording Fees and transfer taxes: This expense is charged by most states for recording the purchase documents and

transferring ownership of the property.
Make sure you consult a real estate professional in your area to find out which fees—and how much—you will be expected to

pay during the closing of you prospective home. Keep in mind that you can negotiate these costs with the seller during the

offering stage. In some instances, the seller might even agree to pay all of the settlement costs.

Scott Thompson, Realtor can be reached at (510) (410-2003). Prudential California Realty is an independently owned and

operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity