How to buy an investment property in the Tri Valley

So you are thinking about buying an investment property and thinking about a foreclosure in Pleasanton or a short sale in Dublin. Unfortunately every time one comes up that is a deal, you get out bid or can’t get an offer in soon enough because you are too late.

For a list of foreclosures or short sales in the Tri Valley comment below.

Here is a game plan incase you don’t have one:

1. At the least get pre-approved, even if you think it will be no problem to do so. If your offer on that short sale in Dublin Ranch does not have one, the bank won’t look at your offer, sorry.

2. Know what you are looking for. 3 bedroom minimum in Pleasanton, must have garage, close to school, no pool, single level, indoor laundry… Focus on those properties you want only.

3. If it’s a rental, know neighborhood rents and be conservative. Don’t forget HOA dues. Dublin Ranch condos are a great investment with prices below $400,000 and rents above $2,000.

4. Looking at a fixer? Don’t sweat the appliances being gone or destroyed carpets and paint. Those are easy to take care of – Visit the Sears Outlet Store in San Leandro. How is the structure? How is the roof? How are the schools? Latest on Tri Valley School scores.

5. Be realistic in pricing. $400,000 condo in Dublin Ranch rents for $2,300. If you put 20% down your payments are pretty close to even cash flow. Most investors looking for a property like this will not go much higher than $400,000, so it will be hard to get it for $350,000. Think about who else might be looking at that foreclosure in Pleasanton you have an eye on.

6. Sweeten the deal. Short sale in Dublin was just secured for our buyers because the seller wanted to stay in the home and the buyer wanted a renter. We told the seller they could stay in the home. Offer Accepted! What makes your offer different from the other 7 offers written?

7. Not everyone is hurting. Even if the economy is ‘weak’ there are a lot of people with money investing in properties and flipping homes. Right now the competition for buyers is an investor who has done their homework. Have you done your homework? If you have, you will get an A in investing and make some great money from this market.

If you would like us to help you develop a plan, email us here.

For a list of foreclosures or short sales comment below.

Remember to do your homework. Here is a post covering that idea. Is Your Home Convenient.

Tri Valley Home Sales Update September ‘08

Do you watch the news, read the papers or other real estate blogs? If you do then you know interest rates took a drop this week. Pleasanton Home Sales, San Ramon Home Sales, Dublin Home Sales, Danville Home Sales and Livermore Home Sales will hopefully see a continued increase in home values as we are starting to see in Pleasanton, San Ramon and Danville from the drop in rates. Visit the Housing Value Stats page.

Tri Valley Home Sales Update September ‘08

Pleasanton Home Sales

Dublin Home Sales

Dublin Ranch Condo Sales

Livermore Home Sales

San Ramon Home Sales

Danville Home Sales

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Latest on Grafton Plaza in Dublin Ranch

Grafton Plaza in Dublin Ranch is a very impressive new development in Dublin. Whether you are for Grafton Plaza or against Grafton Plaza, it is a development that is unlike any other in the East Bay. Whatever happens Grafton Plaza will be something different.

The other day I received a very important looking package from James Tong, you may have received one too if you live in Dublin Ranch. Within this package was a letter, postcard and booklet explaining what Dublin Ranch is.

The Letter:

The letter was signed by James Tong and it explained to me the 20 year plan Dublin Ranch has traveled through. Also the opportunity of Grafton Plaza because of its location and how Grafton Plaza will be a ‘people places’. Initially the plan was for 16 to 21 stories, that was cut in half to be 10 stories at the tallest as well and the number of residential unity in the towers. At the same time the number of office space was doubled. Grafton Plaza will also be the ‘cap’ of the Dublin Ranch neighborhood. I was excited to see the update.

The Postcard:

As you could probably guess, this packet was designed to get feedback on the development. What do you like, dislike, want to see or have questions on. I thought it was a great idea. Whatever Grafton Plaza becomes, hopefully it will be designed through the process of this feedback and the previously held workshops.

The Booklet:

I was fancy! It got my attention. It gave a history of Dublin Ranch and how far Grafton Plaza has come in its planning. Location is important so it highlighted the location of Grafton Plaza and how Dublin Ranch is laid out. Grafton Plaza is obviously located in the right location. The booklet really hit on what Grafton Plaza provides residents within Dublin and how Grafton Plaza can really be a one stop shop for living.

So what makes Grafton Plaza a ‘People Places’

Living

There will be a mix of homes: lofts, condo, live/work and shopkeeper units. This allows employees to live where they work. Not bad.

Offices

Grafton Plaza will have almost 300,000 square feet of office space.

Shopping, Restaurants, Entertainment

Both indoor and outdoor shops with restaurants in a plaza. Other entertainment/gathering places: sculpture garden, lookouts and parkways of landscaping.

Boutique Hotel

A 100-room luxury hotel.

Spa

Full service providing a destination for residents and visitors.

Grafton Plaza, however it looks, will compliment The Promenade as well at Grafton Station and make the surrounding Dublin Ranch Condos even more desirable.

For more information on Grafton Plaza visit Grafton Plaza . Or visit Stop Grafton Towers for an oppoisite view.

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Can You See The Bottom – Tri Valley Homes

This is not an article about why you should buy a Pleasanton home because everyone buys for different reasons. This may be a bad time for you to buy that condo in Dublin Ranch, but it may be a great time for you to buy that Danville home. This article is what we have observed from working with Tri Valley home buyers over the years.

In 2004 and 2005 the question for many tri valley home buyers and tri valley home sellers was ‘how long will this last?’ Meaning how long will prices increase. Today the question is ‘when will the bottom hit?’ And in 2007 the question was ‘Why would anyone buy a home in this market?’ In the papers and on the television the thoughts were similar. Last year you could pick up the paper and a headline would read ‘Where is the bottom of the market.’ Today I opened the paper and the headline was ‘Housing bottom coming into view.’ Real estate is always looked at in trends of month to month sales or year to year pricing. Since we are tri valley realtors we have a good look at the ‘emotional’ trend of buyers in the Pleasanton, Dublin, Livermore, Danville and San Ramon markets. As you could probably guess the trend or question we get now is ‘When should I buy a home?’ Today we have a lot of clients who want to buy a home, they just want to time is right. From the National Association of Realtors to CNBC many economists are pointing to some point in ’09 to be the bottom and a stabilization moving forward from the end of 2008. Before you say we have a bias opinion, we also see first hand the buyers in the Pleasanton, Dublin, Livermore, Danville and San Ramon markets who are waiting for the right point to purchase. Think of it like a group of runners at a start line shoulder to shoulder holding everyone else back waiting to sprint or ‘jump’ into the market. The number of people waiting is huge and once the media is in line with what those buyers at the start line want to hear or see in the data trends, the real estate market will explode. My point is this – Don’t try to time the market, you will have a hard time doing it because every markt is different, but buy a home for the reason our grandparents did! When the time is right for you, buy and hold.

Buy smart and do your homework!

Promenade at Dublin Ranch Update

While the Promenade at Dublin Ranch still in the ‘planning’ process from the City of Dublin there sure has been a lot of activity on the land. I took the picture below this morning of the Promenade and you can see the parking lot which was the former location of the Toll Brothers design and sales center is no more.

So why are there bulldozers on the land?
The Lin family asked Toll Brothers to relocate off the Promenade land in preparation for the coming Promenade development.
Currently nothing is approved for the Promenade, but there will be a section of the Promenade at the South East corner which is going for review next Tuesday.

Current information available:

• There are a total of 6 ‘blocks’ within the Promenade at Dublin Ranch.
• First up for review is at the corner of Grafton and Dublin Blvd. It will be a 3-story building with first level commercial and retail with second and third as office space.
• Club Sport’s facility will be at this location as well.
• Public hearing for the Promenade will be set for September at the earliest.

I can’t wait to see what the Promenade at Dublin Ranch will look like. We have all been waiting a long time!!