RealEstate680

This is one of SAM’S TOP 20 HOMES ON THE 680 CORRIDOR.  My colleague, Margaret Garber-Teeter has this fantastic home listed for $549,000.  1329 square feet of great living space.  Recently updated with a great yard, hardwood floors, granite counters, the works.

If you’re in the market for a 3 bedroom, 2 bath Concord-close in single family home this is tremendous. Ask your Realtor to show you this home or give me a call.

Homes in Walnut Creek and the 680 corridor have been excluded from Federal and State grants for years.  The purchase price and loan amounts were always too high.  The federal stimulus package continues to assist people who have the income to support the monthly mortgage payments to live in Walnut Creek and central Contra Costa County.  And here’s how.

The Nehemiah Program has been around for decades it has helped over a quarter of a million Americans purchase homes. Unlike some down payment assistance programs, Nehemiah offers down payment help to anyone who qualifies for an approved FHA loan. There are no limits on income or assets, but buyers must have an FHA loan or be pre-approved for an FHA mortgage. 

Nehemiah will allow up to 6% of the final contract sales price for down payment and/or closing costs.  It’s available for first-time and repeat homebuyers.  You can use it  for new construction and resale homes, with no geographical restrictions.

 This means a FHA loan up to a $750,000 loan amount with a supporting Nehemiah grant to cover the down payment. I’m sure certain restrictions are attache to this product, but if you want to buy a Walnut Creek home with nothing down, this may be one fo the ways to do it.

Walnut Creek and the 680 corridor has its share of SHORT SALES.  A short sales is when a lender accepts a reduced amount on the mortgage to avoid foreclosure.  The real estate community in Contra Costa County is just learning the procedures of short sales.  If you are interested in learning more about short sales in Walnut Creek, Pleasant Hill and the 680 corridor, I can show your the listings; and we can create a game plan that meets the needs of the buyer, seller and lender.

Whether you are buying or selling, it’s very important to deal with a real estate professioanl that knows how the short sale process works and can guide you through.  Sellers have to disclose just like a normal sale and buyers have to do the inspections needed to show the condition of the home.  In many cases this is a great way for a buyer to buy a home at a discount and for a seller to avoid foreclosure and possible bankruptcy.

We live in a very diverse county.  On the positive side, we have always had good employment, measured growth and although people in east county will argue; good transportation.  BART put Contra Costa on the map.  In the 1980s corporations moved out of San Francisco to Oakland, San Ramon and Walnut Creek.  Cheaper rents, yes; but also a better and less expensive labor force.

The past 12 months in Conta Costa County has produced a large increase in mortgage defaults.  Buyers are still relectant to get into the market.  “LOOKING FOR THE BOTTOM OF THE REAL ESTATE MARKET.”

According to Data-Quick, a real estate reporting company; last week Walnut Creek did not add any foreclosures, neither did Alamo or Danville, Lafayette, nope and Orinda and Moraga–not a one.  The 680 and 24 corridor has a few homes owned buy banks and several homeowners trying to get out from underneath their debts.

Take the time to research the real estate markets that interest you.  Walnut Creek is a good example of a buyers market.  All prices ranges from first time hone buyers to multi million dollar homes.  The new FHA financing to a perfect tool for mortgages up to $725,000 in Walnut Creek, Concord, Pleasant Hill, etc.

It’s a great time to buy a homes!

If you follow homes built by Joseph Eichler, California Modern and Mid-Century Modern, you will be very interested in the Eichler/CA Modern Faire that my colleague, Heidi Slocomb and I are hosting.  The event is Saturday, March 8, 2008 from 10 AM to 2PM at the Rancho San Miguel Swim Club at 2727 San Carlos Drive in Walnut Creek, California.

 Joining us at the event are contractors and crafts-people who specialize in products and services for Eichlers and CA Modern style homes.  Abril Roofing and Energy, specialist in foam roofing;  Light Energy Systems, specialists in all aspects of energy saving heating;  Jeff and Annette Nichols, fabrication of unique interior and exterior siding patterns; Kitchens Italia, European kitchen and bath designers; Freschi Air Systems, air conditioning and heating specialists; Terralinda, landscape designers; Fleyry’s Flooring, contemporary floor choices; and more.

Last year we had over 125 people attend our event from Oakland, Castro Valley, Berkeley, Concord and Walnut Creek.  These cities represent the areas in the east bay area of San Francisco that have a large concentration of Eichler and California Modern homes.  By the way, it’s free to the public, just drop on by.

 Hunter Wimmer and Cassandra Permenter recently bought an Eichler in Concord, California.  The home they purchased was in original condition.  They bought the home from the original owner’s family.  truly a diamond in the rough.

Hunter and Cassie have an eye for design and a very good understanding about construction.  Their story is told in their Blog:  www.RedneckModern.com.  I am very impressed with their work and have enjoyed reading about the transformation.

There are a lot of original Concord and Walnut Creek Eichlers owned by the orignal owners.  Each is a wonderful story of how they raised their family in these great communities.