Ms. San Francisco Real Estate (Janice Lee)

Just Sold 2909 Jennings Over Asking All Cash $650,000! Represented Seller. This property was featured in SFGate.com. My client purchased the property for under $300,000 in San Francisco Bayview District in 2014. Negotiated a lower price after getting in contract. Is that even possible? My clients remodeled  the property and sold for a huge profit. #SF # Flipping #Investments #RealEstate # Listing #Selling Before and after 2090 Jennings.

                   A probate sale with court confirmation occurs when a person passes away, who may have a will and leaves the property to heirs.  When there is court confirmation, the listing agent typically lists a property below market, sets an offer date and accepts an offer. If your offer gets accepted during the offer process, you may actually have contingencies into your offer.  If your offer is accepted, you will need to put 10% deposit at the title company instead of the typical 3%.  However, the attorney cannot petition the state to set a court date for potential overbid until all contingencies are removed. The court date is typically at least a month to 45 days from the date you remove all contingencies (if any).                    The court date allows other potential buyers to go to court to overbid and the final accepted overbid (if any) gets confirmed. The first overbid would be 5% plus $500 above the accepted offer price.  Bidding is like auction style and can

WASHINGTON President Barack Obama moved Wednesday to make it cheaper for first-time and younger buyers to take out a mortgage. Obama lowered the mortgage-insurance premium for borrowers who have a down payment of just 3.5 percent of the home’s purchase price and finance the rest of the purchase with a loan backed by the Federal Housing Administration. The reduction is expected to save the typical first-time homebuyer an average of $900 a year on the insurance, the White House said. The insurance is required because they’re financing so much of the purchase and the loans are riskier. Existing homeowners who refinance into an FHA mortgage will see similar reductions, the White House said. The White House estimated that the change will help 800,000 homeowners save on their mortgages and 250,000 new buyers save on mortgage payments over the next three years. Obama, expected to highlight the lower-cost mortgages Thursday during a visit to Arizona, has been under pressure from the housing se

CoreLogic DataQuick, the La Jolla-based real estate information firm, reported that Bay Area home sales overall edged slightly higher in October, climbing 1.3 percent from a year ago. But the luxury segment of the market turned in a much more robust performance, soaring by as much as 55 percent in some regions, according to new Coldwell Banker Previews luxury market reports.