All posts by dzabarte

Rents Are On The Rise


Renting vs Owning — a no brainer.

If you have a rental that costs you $1500 per month over 1 year you’ve just spent 18K. Multiply that by 7 years and you’ve spent 126K. That money is GONE. If instead you had a mortgage even if it was a higher amount than your rental, at say $2000 per month and you have to pay for taxes and insurance — with the tax benefits of home ownership (providing you didn’t buy in the last real estate bubble and pay 150K over the value of the home just to get it in the multiple offer arena) do you think you might be at least break even? Once we get back to a historic curve equity gain becomes more predictable, but the chances that you could be up by 126K over a 7 year period vs being down for sure seems to me like good incentive to start thinking about getting approved for a loan and makin’ a call to yours truly to go out and take a look at a few properties.

Foreclosure Timeline

One question that comes up a lot is how does the foreclosure process work as far as the homeowner defaulting on their loan and the bank taking the property into their portfolio of REO’s (“Real Estate Owned”) — Here is a quick breakdown of how the process will proceed once the mortgage is in default after missing 3 or more payments:

Day 1
Notice of Default is filed with the county recorder, along with a signed
Declaration (if required). This Declaration is to acknowledge that
appropriate steps to contact the borrower were made at least 30 days
prior to recording the Notice of Default.


Within 10 Business Days

Mail Notice of Default to borrower(s) at the property address and any
additional addresses.

Notice of Default also sent to those who recorded a Request for
Notice (normally junior lienholders).

Within 1 Month

Mail Notice of Default to any parties that have a recorded interest in the property.


After 3 Months

Set Trustee Sale date.

25 Days Prior To The Trustee Sale Date

Send notification to the I.R.S (if applicable)

20 Days Prior To The Trustee Sale Date

Property is posted with a copy of the Notice of Sale.
Mail Notice of Sale to any parties that have a recorded interest in the property.
Resident/Occupant of the property is sent notification and property is posted
with “Danger/Warning Notice” in five languages, advising of the Notice of Sale.
Begin publication of Notice of Sale. Must be published in newspaper of general
circulation where property is located. Publication runs once a week for 3 consecutive


5 Business Days Prior To Sale Date

Expiration of the borrower’s right to reinstate the loan. The Beneficiary
can deny reinstatement and require payment in full to stop the foreclosure.

Sale Date

Public auction is held. The foreclosing lender generally opens the bidding for an
amount less than or equal to the outstanding debt. The property is sold to the
highest bidder, which will be the lender if there are no third party bidders.
Third party bidders must have certified or cashier’s checks up to the total
amount that are bidding. The trustee will require the total amount at the sale,
all cash (or equivalent).
Sales can be postponed by the Trustee or the lender for up to 365 days
from the original sale date.


(I want to thank Linda Moss from First American Title for clearly breaking down this timeline for me so that I could effectively share it.)

454 B St – Hayward… under contract!

Thanks for all who have made inquiries and took the time to come and see this unique home in Hayward. We got a lot of interest and are now currently under contract. If all goes well with this one we should be closing escrow quickly. For those that didn’t have their offer selected, please keep in mind that often in this market unforeseen things happen during escrow and there may be an opportunity if something like that happens with this one.

2 Bed/2 Bath in Hayward

Just put a new listing on the market yesterday that is quite a unique home that was built in 1910. This property is extremely close to downtown Hayward and is wheelchair accessible. If you know of anyone who might be interested, please contact me or point them in the right direction… it is not a short sale or foreclosure, and it won’t stay on the market long!

454 B St - Hayward

Check it out further by clicking HERE.

Yay! More Yelp reviews!

David Zabarte at Keller Williams

I would love to talk to some more folks who are either thinking about selling their home and are wondering if it is possible do accomplish a move-up in this down market, or any buyer looking to purchase a home now and is ready to take advantage of the record low interest rates.  I have helped a bunch of clients get through some tough sales, and I can certainly fill you in on what obstacles are out there and to navigate with the best approach for this current real estate market! Don’t wait! I will even meet up with you at your favorite coffee spot and buy you a cup of coffee if you’d like to meet me in person first in a “neutral” environment so to speak.