THE SECOND STORY | April 2nd, 2020

The real estate biz is very unusual.

Stuff – buh bye! One of the benefits of being stuck @ home for prolong periods of time. Say hello to electronic waste, Stuff.

The rules and the laws are changing very quickly…and so is the news about the Corona Virus. Yesterday Alameda County updated their who-can-view-a-property status. The bottom line is nobody, in person. Yes, they can show a virtual tour of the property, or floorplan. But no private showings.

The goal is to save lives.

Here’s an example:

I get notices from the lockbox vendor, Supra, when a lockbox is opened or closed. This is triggered by the actual lockbox mechanism. It tells me the time of day it was opened, the time of day it was closed, the name of the agent, the company he/she works for, the telephone number/email of the agent.

Yesterday I got a notice that the lockbox was opened. It’s the only listing I have at the moment. I didn’t recognize the name. So I called her. She’s from Santa Clara (the city, not the Alameda street).

Santa Clara is in a different county than Alameda. Alameda County has stricter rules than most other venues/counties. Alameda is a city within Alameda County.  And there are 5 other counties that are using the same rules as Alameda County.

She called me to let me know there was no house key in the box. I called her back. That’s because I removed it from the lockbox maybe two weeks ago.

Turns out she wanted to show her clients another property and that the listing agent for that property sent her a signed addendum/advisory (that our Ca. Association of Realtors attorneys had created 2 days ago) that the seller had signed.

Her buyers signed that addendum/advisory. The goal is to protect the agents, even if the potential buyers want to walk into a potentially dangerous property (read Corona Virus).

So what’s the problem? This agent had no CLUE that in Alameda County we are working off a more severe set of rules than Santa Clara County.

This is why I try to be very aware about the rules. These changes are coming very fast.

IMHO, please get find an agent that knows the town/city that you want to explore to see if they have inventory that may be appealing to you, the buyers. Anything less is a waste of your time.

Definitions:

MLS=Multiple Listing Service 

AC= active contingent (the buyer needs to sell something before s(he) can complete the transaction. In this instance, another buyer might write a back-up offer. If the primary buyer can’t meet the contract deadlines, it’s bye-bye to the first buyer. And the back-up offer moves into the primary position. Be sure your agent explains all of this to you! You do NOT want to lose your deposit to the Seller.)

BOM=back on the market (could be that the buyer had some conditions in the contract that s/he couldn’t meet in a timely manner).

PCH= price change (seller either raised or dropped the price)

PSB=pending sale (seller & agent wants backup offers)

REO=  Real Estate Owned by the lender (The seller may have stopped paying the lender, was behind a few months, etc. It’s a foreclosure!)This the first time in years that I’ve added this to our list!

Alameda Real Estate this Week

Definitions:

MLS=Multiple Listing Service 

AC= active contingent (the buyer needs to sell something before s(he) can complete the transaction. In this instance, another buyer might write a back-up offer. If the primary buyer can’t meet the contract deadlines, it’s bye-bye to the first buyer. And the back-up offer moves into the primary position. Be sure your agent explains all of this to you! You do NOT want to lose your deposit to the Seller.)

BOM=back on the market (could be that the buyer had some conditions in the contract that s/he couldn’t meet in a timely manner).

PCH= price change (seller either raised or dropped the price)

PSB=pending sale (seller & agent wants backup offers)

REO=  Real Estate Owned by the lender (The seller may have stopped paying the lender, was behind a few months, etc. It’s a foreclosure!)This the first time in years that I’ve added this to our list!

_________________________________________________________________

New listings 5

Total active listings 27

Total pending listings 33

Total sold 6 

 

Get creative with your weekend…let me know what works for you!

best, marilyn

 

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Marilyn

I arrived in Alameda in 1973, as a new bride...with husband Carl Schumacher, both of us from Newport Beach. He was embarking on his career as a Naval Architect (i.e. yacht designer) under Gary Mull. Please see the 'ABOUT ME' page in this website! www.MarilynSchumacher.com to see how it has all turned out! I'm so blessed!