I have been working on a Redwood City short sale with Chase since last September. Now if this were 2009 this would be more like dog bites man rather than man bites dog. But it is 2012 and most short sales do not take so long. However, this one has a 3rd loan for a lot of money and it slowed the process down. Selling the property at market value was not that hard, despite being on a fairly busy street. We got an offer for $510,000 and a BPO for $510,000 so it started out ok. By December I had approval on the first and second with a payoff of 6K to the third who had previously owned the home and had a $120K note on the property. Third lender said no way. He wanted 65K as a note from the seller or cash from the buyer. Buyer and seller said no. Buyer walked. House went back on the market an... 07/14/2012

In Redwood City from Jan 1, 2012 until June 30, 2012 there were: 46 closed short sales 22 closed bank owned homes Total sales during this time period were 363 Total % Short Sales: 12.6% Total % REO Sales: 6% Total Percentage  Redwood City Distressed Properties: 18.6% 18.6% of all Redwood City sales being distressed is enough to still haves some effect on the overall market. However, as inventory is still so low unless these homes are truly physically distressed, which is more common with bank owned homes at this level it probably will not have a long lived effect. It is interesting to see there are twice as many short sales as bank owned sales. If you have any questions about short sales or foreclosures in San Mateo Clara County please feel free to contact me. Marcy Moyer Keller William... 07/14/2012

A small gem lies at the base of Emerald Hills, the BOK Ranch and the original site for an extraordinary Riding Program started 27 years ago as a 4H projec.  The BOK Ranch has blossomed into an opportunity for more that 100 special needs adults and children to be able to take horse back riding lessons. Every year BOK opens its gates to the rest of the world for a BBQ, auction and show to help raise money and awareness. Take a look at the following video for more information about this amazing place!     or click here to be redirected   for more information on the BOK Ranch bokranch.org     wendebythebay.com   06/19/2012

Gorgeous land sold in Emerald Hills, 94062 Don't you just love the name, "Emerald Hills?" This area in unincorporated Redwood City, California, is a unique enclave on the midpeninsula, a mix of small, old cottages and large, newer estates. It abuts Edgewood County Park, renowned in the area for its spring wildflower display, and miles of running/jogging/hiking trails. On the market only 7 days, three offers were received on this property of approximately 30,000 sq.ft. with an old house on it. It sold over asking and closed in 7 (busy!) days. My buyers will soon be building their dream house and creating family memories to be treasured for a lifetime. A word of caution to buyers: don't rely on Zillow's "Zestimates." You'll be frustrated over and over again if you do. Sales price: $1,177,... 05/10/2012

The landscape for short sales is changing. As the inventory of homes for sale stays at historically low levels all over Silicon Valley, short sales are gaining in popularity for buyers. Added to that is the fact that short sales, while not a sure thing, are getting approved at increasingly higher rates. Short sales can still be time consuming and frustrating, but when there are so few choices for buyers they begin to look better. So if you are thinking of selling your home as a short sale here are some tips to make things smoother. 1. PICK AN EXPERIENCED SHORT SALE AGENT TO LIST YOUR HOME. IF YOU ALREADY HAVE A RELATIONSHIP WITH A REALTOR WHO IS NOT EXPERIENCED WITH SHORT SALES ASK THAT AGENT TO CO LIST WITH AN AGENT WHO KNOWS HOW TO PROCESS AND NEGOTIATE A SHORT SALE. 2. Price your hom... 05/09/2012

 “Discover & Go” Museum Pass Program Make the most out of your library card with the new "Discover & Go" program! This service provides Redwood City library cardholders with FREE and discounted passes to local museums, cultural instiutions and educational adventures. This is a GREAT way to spend time as a family, explore new things with friends or go on an adventure with that special person in your life.   This program even allows you to view prices and print out passes from home. Or if you don't have internet access, or feel like getting a book and then going somewhere you can use the free computers at the library.   Need a library card? No problem! Visit www.redwoodcity.org/library and click on “Get a Card.”   Redwood City Library Card Holders currently can access free or discounted ... 05/04/2012

  2638 Brewster Avenue Redwood City California Come check out this enchanting craftsman style home in the sought after neighborhood of Mt. Carmel Redwood City. This four bedroom, three bath home is a unique mix of comfort, style and turn of the century charm. Spacious living areas give way to each other in a seem-less and open floor plan that allows the entire home to feel open and inviting. A welcoming kitchen looks over the family room area which has french door leading to the backyard and deck. This house is the perfect space for friends and family to enjoy eachothers company in the sunny and warm California weather. Most impressive is the master suite which includes a sitting area, working fireplace, dual spa shower, seated vanity and walk in closet. This is the perfect private spac... 04/22/2012

I am helping out on a short sale in Redwood City where Chase is servicing the first and second loan. What this means is that the owner has first and second mortgages that were originally gotten from Chase. These loans were then sold to investors and Chase maintained the servicing. This means that ultimately Chase no longer makes the decision about whether or not to approve a short sale. The problem is there is also a third lender, and the third lender wants a lot of money to approve the short sale. The buyer agreed to pay the third what he wants, but the investor for Chase's first loan said no way. I guess from that investor's perspective if they foreclose they do not have to pay off the second or third and they get to keep all the money. Maybe they will make more if they foreclose.  Bu... 04/21/2012

A few days ago I blogged about going to see the Tall Ships at the Port of Redwood City.  The port is the only deepwater port south of San Francisco.  We don't get anything glamorous like cruise ships so when the Tall Ships come to port, it's an event! I was asked for pictures so when my husband and I went to see the ships, he took pictures for me. You can see the crew in the rigging.   These ships are replicas built in the 1980's.  The Hawaiian Chieftain has a plank deck with tar and oakum between the planks.  They will be sailing from San Francisco to Sausalito later this month.  Call 800-200-5239 or go to www.historicalseaport.org for more information. 03/05/2012

The tall ships are at the port of Redwood City until March 7.  This is an annual treat in the Bay Area.  They also dock at the Port of Oakland and at San Francisco.   If you feel you must go down to the sea again or have read any of the stirring novels about sailing ships, a visit to the Port of Redwood City may be in order! My husband has read every one of Patrick O'Brian's novels set on the high seas more than once.  I had no idea that a conversation I overheard in my periodontist's office would lead to a decade's long obsession for my husband.  The dentist was talking to his patient and going on how wonderful the books are.  I was looking for a nice little Christmas present for my hubby, and when I heard that conversation I knew I had to get to Kepler's and buy the first book of the ... 03/01/2012

The Backyard Coffee Company, 965 Brewster Avenue,  brings a spark of the hometown cafe to Redwood City. Centrally located in downtown Redwood City, a stone’s throw from the boulevard of shops and restaurants, rests the Backyard Coffee Company. This locally owned and operated business boasts both an open plan coffee shop and a separate but shared-site gym. The owner of this cozy cafe renamed it from Cafe Sportivo to Backyard Coffee Company in honor of her great-grandmother who ran a restaurant with the same name. The Backyard Coffee Company blends the ideas of a traditional coffee shop with a place that offers local events for talented artists of all kinds to have community participation in a variety of events. The walls are lined with local art and an eclectic collection of comfortable... 02/18/2012

Come enjoy the winter the way it should be- outdoors with skates on! Redwood City is hosting its own outdoor skate rink that is right outside the courthouse doors! This a great opportunity to enjoy the outdoors as a family, go on a date or just get some exercise in the convenience of being in downtown Redwood City.  *** Also some other interesting things going on in Redwood City**** 01/13/2012

It's the end of the year so time for the round-up of distressed property sales in Redwood City. So here's what happened:   Single family and condo townhomes 2011: Total sales:  553 Short Sales: 91 REO:           49 Distressed sales as a percentage of total sales: 25.3 Compare to 2010 Total sales:   600 Short Sales:   93 REO:            78 Distressed sales as a percentage of total sales:  28.5   My conclusion: The percentage of distressed properties in Redwood City is a little lower in 2011, 25.3% as compared to 2010, 28,5%. This is dues to a 40% decrease in REO sales in 2011. It will be interesting to see if the rumored release of REO inventory actually happens, and increases the percentage in 2012, or if the econmy picks up and helps people afford their homes. If you have any questions... 01/01/2012

Sad story. A client told me last February that she was not able to make the payments on her $750,000 home loan. The house is now worth about $400,000 and this person wanted to get a loan modification and get the principle reduced. I can not tell you how many times I hear this story and how few times I have heard that there actually was a principle reduction. Actually I can tell you how many times I have heard of a principle reduction, once. Ok, so it is bad enough that banks have been unwilling to reduce principle but things can get worse. My client received a Notice of Default last February and at that point she decided to try to to get the loan modification. In November she was finally offered the loan mod, which she turned down because not only did she not get the pricnciple reduced,... 12/27/2011

I know a lot of you are going to think I am crazy but I really love short sales. I am sorry that the market is such that there are many people who need to sell their homes short, but that is the current reality. Given that reality there are many things about the short sale process that I enjoy, fewer things that I just tolerate, and even fewer I hate.  I HATE PRIVATE THIRD LIENS ON SHORT SALES!!!! I can not emphasize this enough. 3rd liens are always tough, but private ones are the worst, because very often there is an emotional component to the person holding the private third, and also because it is often not a large, impersonal bank losing the money, it is a real person, who probably was depending on that income. But feelings aside, I learned something very interesting today from Cha... 12/20/2011

If you're looking for a home with a marina location, One Marina is a condominium complex being built on a lagoon on Bair Island Road.  It's easy to find:  take Whipple Road to Bair Island Road and there you are! There are currently three units available.  We were able to tour several of the completed model units in Building One.   I must say the photos for the listings do not do them justice.  Often times, if you are an experienced open house visitor, you may come away from a property feeling somewhat disappointed.  You were led on by the photos.  This won't be the case here.  I think the reason for this is that these units are designed with interesting design features; a great room with kitchen, living room and entry, and an option for some very nice higher end finishes.  Another inter... 12/15/2011

Eat Well and Do Good at Bangkok Bay Thai Cuisine in Redwood City CA Bangkok Bay Thai Cuisine in Redwood City is my favorite Thai restaurant, my 'go to' place for lunch with a friend, or for dinner with my husband. The ambiance is pleasing, the food delicious, and the family-owned and operated business obviously takes pride in creating and serving an enjoyable, memorable meal. Even more than that, Bangkok Bay Thai Cuisine cares about the community, and supports both local and world-wide causes. On Monday, December 12, Bangkok Bay is hosting a one-day fund raising event. They will donate 50% of the day's sales to help the victims of the recent flood disaster in Thailand, the worst flooding in 60 years. There are 3 ways you can help: 1) have lunch or dinner at the restaurant2) order take o... 12/08/2011

Unfortunately many homeowners get behind in their mortgage payments. The good thing is that there are many programs out there to help homeowners including loan modification programs or short sales.  Very often a trustee sale date is set before a short sale or loan modification is completed, but this date is most likely be postponed in order to give the homeowner the opportunity to work thinking out with the bank. The homeowner or their agent needs to ask the bank representative with whom they are working to postpone the trustee sale date. That rep will then make sure it is ok with the investor on the loan (which it usually is) and then postpone the sale. The record of postponement can be found on foreclosure tracking sites like www.foreclosureradar.com However, sometimes mistakes are ma... 12/04/2011

If you are selling your home as a short sale and it needs work you may get one or more offers from flippers. These can be contractors or investors who want to buy your home at a discount, fix it up, and then resell it for a profit. I do not believe there is anything unethical about this, and in fact I used to flip homes myself, but that was a different market. However, there are many banks who disagree and often will put limits on the minimum time a home must be held before they will lend on it for the next buyer. That is an issue for the buyer of your short sale. As a seller there is a more important issue for you. Some banks will make a buyer sign a notarized document promising not to resell the home for a minimum of 90 and up to 180 days after the purchase.  If you accept an offer fr... 10/15/2011

San Francisco Bay Area realtor Wende Schoof invites you to join her on her weekly tour of homes listed for sale. This week’s San Francisco Peninsula homes are in the cities of Menlo Park, Redwood City and San Carlos. One of the featured San Carlos homes, 80 Hilltop Drive, is listed by fellow Active Rain blogger and outstanding realtor Lottie Kendall. Here is a glimpse of a few of the ten homes on this week’s featured tour Homes for Sale in Menlo Park, Redwood City and San Carlos, CA, are featured as you can see in this map View Wende's Tour ByThe Bay 7/5/11 in a larger map Menlo Park: 1312 American Way 675 Monte Rosa Dr #814 2111 Monterey Ave 1007 Windermere Redwood City: 1627 Kentucky St 302 Chelsea Way 216 Brighton Lane 2653 Brewster Ave San Carlos: 80 Hilltop Drive 153 Garnet Ave   ... 07/09/2011