Things To Do To Get Your Lake Nacimiento Home Ready For Winter & Answers to Your Short Sale Questions!

Lake Nacimiento has enjoyed a beautiful Fall season, but with the holidays quickly approaching, it’s time to start thinking about the winter months that will follow.  How can you be sure to keep your Lake Nacimiento home in good repair?  I’ve come up with things you’ll want to do in order to get ready for the winter season on Lake Nacimiento!  To support our local businesses, I’ve also provided contact information for our Lake Nacimiento businesses that provide these services.  You’ll want to get started soon so that your Oak Shores or Heritage Ranch home on Lake Nacimiento is settled in for the colder weather and you can relax during the festive holiday season!

1. Winterize your boat.
JR’s Boat Repair (house calls)    805-239-5619
2. Clean gutters and house vents.
Bugz-B-Gone        805-472-9172
3. General handyman-get that list of honey do’s done  or order wood for fireplaces
Bandy Smith        805-610-0962
4. Trim branches to lighten trees prior to heavy winds during storm season
Family Tree Service    805-466-1360
5. Clean chimneys and dryer vents
Pro-Clean    805-239-2410
Chimney Doctor     805-466-1442
6. Make sure outside pipes are insulated
7. Turn water off and/or keep thermostat set warm enough to prevent indoor freezing temperatures
8. Cover patio furniture, barbecue, etc. or store for winter
9. Move garbage cans into garage or covered area so they do not blow away
10. Stock candles, flashlights and fresh batteries for those occasional power outages
11. Once the rains start, adjust or turn off your auto drip and sprinklers
12. For roofing needs, call:

Mid State Roofing    805-462-0553
13. Service heating systems and change filters
Chaparral Heating and Cooling    805-239-3545
14. Check smoke alarms and change batteries
15. Check fire extinguishers
16. Consider cleaning carpets

North County Carpet & Upholstery    805-239-9355
17. Deactivate satellite TV if you can to reduce your cost to $5.00/mo.
DIRECTV    800-494-4388
Dish Network    888-284-7116
18. Check and make sure all windows are securely closed

Do your rain dance now! We are expecting a cold dry Year!!! An early rainy season-less than normal rain!

Since Oak Shores Realty has diversified these past three years into Foreclosures and Short Sales in addition to specializing in Oak Shores I thought I would answer some common questions I receive from clients to help you better understand the current state of the Real Estate Market.

Q- What is a short sale?
A- A short sale occurs when a owner of a property owes more than the property is worth but does not want to let property go to foreclosure. We help owner determine if they are a candidate for a short sale. We list property at current market value. We get an offer and we negotiate with the lender and we get lender to agree to accept less than is owed to that lender at the time of the sale of the property. I was told by one title company county manager not long ago that roughly 20% percent of all short sale escrows actually close in San Luis Obispo County. This is because most mortgage lenders ultimately don’t agree to sellers’ requests to take less than what is owed. It also is due to many agents’ inexperience in dealing with a short sale. We have used a short sale expert for the last three years and currently have sold several short sales in Oak Shores. for further information!

Q- What happens if a lender doesn’t agree to a short sale?

A- Usually, the lender forecloses and, unless someone successfully bids at the foreclosure auction, the lender takes the property. The property then is an REO, or as the asset appears on the bank’s balance sheet, “Real Estate Owned.”

Q- An offer was prepared for us months ago on a property whose sellers were trying to accomplish a short sale. We haven’t heard if or when our offer will ever be approved by the seller’s lender. Why can’t we at least get the courtesy of an answer?
A- There are several reasons for this frustrating process. The banks are overwhelmed by the tidal wave of foreclosed properties, sellers requesting loan modifications, requests for banks to accept deeds in lieu of foreclosure and short sale requests. They weren’t, and still aren’t, staffed to deal with it all. There are other reasons but, generally, this is a very inefficient, imperfect process with often predictably unacceptable results.

Q- Can we offer less than asking price on a distressed property?
A- It depends. If similar properties are engendering multiple offers and bidding wars, the answer is clearly another question, “Why would you?” On the other hand, if the property is very unusual, such that there is no competition for it, then it certainly doesn’t hurt to seek a discounted price and/or other concessions.

Q- We recently had an offer accepted by an asset manager who works for a bank that acquired the property from foreclosure. Then you presented us with a 12 page addendum from the bank that effectively changed and deleted a number of provisions in our offer. You said that if we wanted to purchase this property we would have no choice but to sign the “addendum.” Why?
A- When you purchase a bank-owned property, this is essentially the process: I submit your offer to the seller’s agent who enters a few key details about your offer onto the bank’s asset manager’s website’s submission page. If your offer is acceptable to the asset manager, the listing agent receives an addendum from the asset manager that is essentially a new contract. The reason for the addendum is that banks’ attorneys do not agree with some provisions contained in the winforms State of California Real Estate Purchase contracts.

Q- So what sells homes these days?

A- Without question, proper pricing, proper preparation and presentation of the property and exposure through the Multiple Listing Service coupled with emerging Internet technologies. Meanwhile, the popularity of printed media has declined dramatically as a place to go to for information about homes and real estate in general. Internet is the dominant force.

We hope you have found this information informative. We have appreciated the opportunity to professionally represent many of you and your relatives, friends and associates over the years and look forward to helping you with your real estate needs in the years to come. We especially appreciate your referrals and will continue to do our best to earn them. Thank you!

Grace Borzini
Your Oak Shores Real Estate Expert
Oak Shores Realty

Oak Shores Real Estate
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Oak Shores Realty specializes in Oak Shores at Lake Nacimiento properties. Please contact us today to get more information on Lake Nacimiento lake homes. Oak Shores Realty can also provide you an insiders “Lake Nacimiento Buying Guide” with great information including maps and market information.

Please let us know how we can help!

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