Three Featured Properties for the Month of February

We have three amazing properties among our listings to bring to the spotlight. All three of these homes are available through our Lease Purchase program where you will be able to apply part of your rent (the option fee) for the eventual purchase of the home. Never just rent a house again! This is your chance to own your home no matter what your financial situation. Take a look and maybe you’ll find your home connection.

120 Mississippi Street, Vallejo, CA 94590 - $1495/mo
This home has a southern charm with laminate flooring and a lot of windows. The bedrooms have sliding mirror doors and the bathrooms are newly renovated. The kitchen comes with a stove, microwave and dishwasher. The back yard is newly landscaped, spacious and perfect for gardening.

Home Details
Beds: 3
Full Baths: 2
Half Baths: 0
Sq. Ft.: 1,230
Pets Allowed: Yes (cats)

2305 Diablo Avenue, Antioch , CA 94509 - $1550/mo
This is a great three bedroom home with carpeting and soft lighting. The backyard has plenty of trees and foliage providing plenty of shading creating a peaceful and tranquil ambiance on those hot summer days. The bedrooms have plenty of closet space with sliding doors. The kitchen has new granite counter tops and sink!

Call today and schedule a private tour!

Home Details
Beds: 3
Full Baths: 1
Half Baths: 0
Sq. Ft.: 1,344
Pets Allowed: Yes

503 Texas Street , Antioch , CA 94509 - $1195/mo
This home has a lovely yard with a deck area perfect for entertaining or just having a relaxing day outside. You may want to spend your time in the kitchen because it has double sinks and granite counter tops.

Call today for more information on this property!

House Details
Beds: 2
Full Baths: 1
Half Baths: 0
Sq. Ft.: 814
Pets Allowed: Yes

We add new listings on a frequent basis so be sure to look at the rest of the homes we have to offer here!

Darren's Experience with the Rent to Own Home Program (Antioch, CA)

For those of you who know about Home Affordable Again, a Rent with the Option to Own Housing Program, we bring to you one of our most recent client's stories and his experience working with us. Darren from Antioch, CA, was able to keep his family in their dream home through Golden Bear Management's Lease Purchase Option.

"Hi my name is Darren, my wife and four kids have lived here in the house for about 5 years now. We bought it back in 2005 at the height of the housing boom, and as a consequence we lost the house to foreclosure.

The house sold and we were planning on having to move out, and luckily--to our surprise--the house was bought by DC Real Estate [Golden Bear Management], and they have a program that enabled us to stay in the house. As a result of that, we are still here; we haven't had to move out. So a good thing has come out of some negative situations, it's been a very positive experience and we're happy to be able to still live here. It's a good company doing good things and helping a lot of people, I'm glad to be a part of it.

For the DC Real Estate Group [Golden Bear Management], they're doing a lot of good things; they're doing a lot of good in an industry where a lot of people are in it for themselves and not considering the human side of what's going on right now, so they're a good group of people and I speak very highly of them.

We feel very comfortable in this house, our children are comfortable and they have a place to play in the backyard. The neighborhood is good and we feel safe when the children are outside playing. It is a very established zone. We have our children enrolled in a very good school nearby. It's very close, just five minutes are you're there. There are a lot of advantages for us to live here and we are very grateful to be able to stay here.

People at DC Real Estate [Golden Bear Management] are very friendly, very professional; they've always been very helpful to me, giving me the time that I needed to ask any questions especially when I was getting information about the program; they really took the time to answer my questions. They're very thorough, all the "t"'s are crossed, the "i"'s are dotted. Everything was very well put together, presented, and they make you feel like you're being taken care of and being represented. And so it's a very good experience being a client through DC Real Estate [Golden Bear Management] and I've had nothing but positive experiences and I can’t say enough about them."

If you're interested in a Rent to Own Housing program similar to Darren's in the Bay Point, Concord, Pittsburg, Antioch, Oakley, Brentwood, San Pablo, Vallejo, or Fairfield cities in California you can visit us at http://GoldenBearManagement.com to see how we can help you make your home affordable again!

Lease Purchase Homes – The Answer in Today’s Market?

by VINCENT POLISI on OCTOBER 26, 2009 @ Credit Repair College
One of the questions I get most often from people interested in credit repair, is how they can buy a home when they have bad credit. While it was once easy for just about anyone to get a mortgage, bad credit mortgages are getting hard to come by.

This is a frustrating situation to be in – you want to own your own home more than anything, but tightening lending guidelines and your less than stellar credit history are making this seem like it is out of reach. Few things are more heartbreaking than finding your dream home and seeing someone else buy it.

More and more people who are unable to qualify for conventional financing but have good income have begun look to lease purchase homes to help them achieve their goals.

Choosing a lease purchase option allows you to rent the home for a set period of time. This gives you the ability to move into your dream home now, while you are working towards credit restoration and repair. One of the key benefits of a lease purchase is that the seller can not sell the property to anyone else during the agreed upon time.

A lease purchase contract, unlike a rent to own or lease option contract, requires that you purchase the home at the end of the period defined in the contract. You are legally bound to buy the home and can be sued if you fail to perform.

For this reason, it is imperative that you take aggressive action towards credit repair as soon as you sign a lease purchase agreement. A key step that you should take before you sign a lease purchase contract is to speak with a lender and have a clear understanding as to what it will take to qualify for a mortgage loan.

If you aren’t 100% sure that you can raise your credit score, or you are concerned that you might change you mind about owning the home, a lease option or rent to own home might be a better choice for you. These provide more flexibility than a lease option purchase. In both of these instances, you can change your mind about purchasing the home and the only negative consequence will be loosing your initial deposit money.

A Lease to purchase transaction, as well as a lease option or rent to own, will typically require a deposit some where between 2% and 5%. You will also have to pay the first months rent payment prior to moving into your home. It is important to note that the option money typically does not apply towards the purchase price of the home, though some lenders may allow it to be credited towards the down payment. You should also understand that in all types of transactions, option money is not refundable.

A portion of your monthly lease purchase payment will consist of what is called a rent credit. This is the amount that you are paying over and above market rent that will be credited to the purchase price of the home. The amount should be clearly defined in your lease purchase contract. The advantage of this is that your rent credit can help you get into the home with little or no cash down when it comes time to qualify for a mortgage.

With the changing market, lease purchase houses are becoming a viable option for people from all walks of life. From self employed individuals who need time to document their income to those looking for time to improve their credit, they are a great way to take immediate action towards your goals.

Rent To Own! (From Dollarrent.equitylinesite.com)

One of the best ways to buy a property at a rate that is not influenced by market trends do not get a rent-to-Own option.
About Rent To Own?
Ie rent-to-Own, is a situation where you can buy real estate at a future date, based on a specific value in the agreement and in the meantime, you live on a rental property. Other terms, which relate this form of purchase order, lease-purchase option or an annuity to be purchasedOptions
What is a part of the rent-to-Own Convention
The Rent To Own is composed of two parts. One section contains the lease terms and the other part has the option to buy.
The leasing section defines functions such as rent, the period of lease, the time to pay the amount, and so on. In the purchase section, you can acquire more information about the possibility of the property to see mentioned, at some point in the future, in addition to thePrice.
What aspect you should know about a rent-to-Own agreement?
Are in a rent-to-Own agreement, three factors. These are premium rents, fees and rent option credits.
Rent premium is an amount you will need for the prepayment of the property to be paid. It is an amount that is a little more than the rent. Another thing that goes on the down payment, the possibility of a fee. You have to note, however, that the option isYou will not be refunded, should you decide at the last moment that you do not want the property. A rent credit is a part of the rent, which is introduced for the down payment. This is confirmed by the seller who has Down payment each month.
Benefits of Rent To Own
There are many advantages in a hire-purchase situation for both the buyer and seller.
As a buyer, your gain, since the changes in market value has no effect on the price paidfor the property. So, if prices were to rise, you need not pay more, just the same amount that was proposed in the agreement.
They contribute to the rent payments by premiums, fees and rent option credits, reducing the amount that you pay at the time of purchase. This is a real advantage for you when the time comes for payment.
Finally, when the last moment, you do not choose to buy the property, you are free to do so. There are nobinding option to purchase. Despite all the money is paid on deposits in such cases, a loss for you still, you can unwind with a purchase, you do not feel right in the final minutes as well.
Seller benefit by someone who will look after their property really well, as they will own the property in the future. The seller receives the money not only for the value of the home, but also in the form of rent, which is an additional source of money, until the actualPurchase happens. In case the buyer decides not to buy the property at the end of money made to do by hiring non-refundable option fee award.
A look at the other side of the coin
As someone who should engage in rent-to-own agreement, you are on the other side of this situation and deliberately. As a buyer, you will lose your rent option premium and fees, you should decide to withdraw from the purchase at the end. In the case of the seller, the application of market-basedPrices suddenly rise up, they would be on the losing side, because the price would be set for their property to be significantly lower.

Use a Lease Option to Lock in Low Home Prices (From Get Rich Slowly)

Use a Lease Option to Lock in Low Home Prices
Thursday, 8th October 2009 (by Baker)


This article is GRS staff writer Adam Baker. In addition to his work at Get Rich Slowly, Baker blogs over at Man Vs. Debt, where he publicly tracks his spending on a daily basis.

Everywhere I turn, people are speculating on whether housing prices have bottomed. While I personally feel things are looking better, I’m never a fan of trying to time markets. Attempting this often encourages people to make large financial decisions before they are fully prepared or informed. Buying homes in haste is one of the factors that got us into our current financial crisis.

Luckily, there may be a silver bullet for those of you who aren’t willing to rush to buy but are still considering a home purchase within the next couple of years. Your solution may take the form of a lease option.

What the heck is a lease option?
The first thing you need to know about lease options is that everything is negotiable. This can quickly turn a set of simple principles into an extremely complex transaction.

Having said that, here are some common features to help you grasp the concept of a lease-option:

* A prospective buyer pays an option fee, which buys the future right to purchase a property within a specified time-frame.

* Unlike a traditional deposit, the option fee is usually not refundable.

* The fee paid for the option (or option fee) can vary widely, but is typically larger than a traditional deposit, and often ranges between 1-3% of the future purchase price.

* The future purchase price is either fixed up front, or a way to determine future market value is established. For example, at the eventual time of purchase, both parties may agree to average two independent appraisals.

* Many contracts will have a length of between one to three years, although this too is flexible.

* Throughout the contract, the buyer leases the property at a pre-set rental rate.

* Some agreements credit a specific portion of the monthly rental rate against the eventual purchase price. This can add legal complications and potentially present problems with mortgage lenders (who all have different guidelines and allowances for this).

Remember the first thing you need to know: everything is negotiable. These are just a few general guidelines to introduce the concept.
Disclaimer: The laws governing lease-option transactions vary greatly from state-to-state. The typical real estate agent does not have the experience or credentials to properly advise on these contracts. Always have an experienced real estate attorney review your unique situation and prepare/review any applicable documents.

The majority of lease options fail miserably
The average lease option and/or rent-to-buy arrangement is destined to fail. There are several reasons for this:

* Desperate landlords — Many times, lease options are used as a last-ditch effort to sell an overpriced property. Owners are either unwilling or unable to move off a certain price, and therefore turn to any technique that has a chance of bringing the desired sale price.

* Desperate tenants — The majority of tenants shopping for lease options can’t qualify for a traditional mortgage. Many of these candidates have full intentions of being able to eventually purchase the home, but few end up taking the necessary steps to clean up their finances to qualify for a loan.

* Poorly written contracts — All too often, these deals are made between two parties without consulting professional real estate or legal advice. Real-estate agents with no experience in lease options can often complicate the situation by providing bad advice. Malicious investors and property owners make things even worse by using shady agreements to extract large deposits and inflated rent payments, while never intending to actually sell the property.

Situations where lease options succeed
Is there any good news in all of this? Fortunately, yes. I’ve been involved in many successful lease-option transactions, where both parties walked away with smiles on their faces. Here are some situations in which lease options can shine:

* A genuine landlord who can’t sell quickly in the current market and understands the value of strong tenants.

* Homeowners who have recently relocated, can no longer support two full mortgage payments, and are willing to lease to tenants with an incentive to maintain the property.

* Tenants who have already turned their financial lives around and need a little more time to qualify for the best mortgage rates.

* Tenants who could qualify for the loan and afford the purchase, but have specific situations where purchasing immediately is not desired.

* There are a several situations where property owners may have legitimate reasons to desire a delayed purchase due to tax implications.

In our current economy, the value of a strong tenant has skyrocketed. Many landlords and property owners will be extremely flexible with tenants who can accurately demonstrate their strengths. This can include extending low-cost options for those tenants who may want to purchase the property in the next couple of years.

By locking in the future purchase price of a lease-option in today’s market, you’ll have the ability to capitalize on any rebound in housing prices without having to risk buying in haste. If housing prices remain consistent or dip further, you are under no obligation to follow through with the purchase. In most cases you’ll only be out the up-front fee that you paid for the option.

Like many of the topics covered in personal finance, a lease-option is just another tool for you to consider. When used poorly or with malicious intent, they are disasters waiting to happen. However, when used in an appropriate circumstance with the guidance of competent professionals, they can be a powerful addition to your arsenal.

Buying Real Estate Using Lease Purchase Option

Owing a home is a big part of the American dream. But not everyone is fortunate enough to become a homeowner due to delimiting factors such as insufficient income, bankruptcy, bad or no credit, loss of employment, etc. For people with such troubles, owning a home is a distant dream and some of these people resign themselves to a lifetime of renting. But such people are not without options. Rent-to-own, which is also known as a lease-purchase option, can be an excellent alternative available to some people who are currently unable to buy a home.

A rent-to-own or lease-purchase option is an agreement between a prospective home buyer and a home seller. The agreement is basically a rental contract with a right to purchase the property after a period of time (usually 1 year). When a home seller offers a lease-purchase option, what they are really offering is the option to rent the house at some monthly rate, and to lock in the sales price of the home now, even though the prospective buyer would not actually purchase the house until a later time (if at all).

Here is a hypothetical example. Let’s say the monthly rent for a home is $1700. Under a lease-purchase option, a prospective buyer would rent the home for the $1700 a month, but would also pay an additional premium (e.g., $200-$300) every month for the option to buy the home after a period of time (usually 1 year). So in this example, the total monthly rent is actually $2000, but $200-$300 of the money will be applied toward buying the house at a later time. In other words, the home seller would apply the $200-$300 extra paid every month toward the prospective buyer’s down payment at the end of the year.

The good news for prospective home buyers is that it allows them to lock in the purchase price of the home now, even though they are not purchasing the home until a later time. The bad news is that if a buyer decides not to purchase the home at the end of lease term, the seller often keeps the premium amount paid over the year, although this is usually a point of negotiation.

Prospective home buyers should know that many of the terms described above are negotiable such as how much the monthly rent will be, how much extra has to be paid every month for the option fee (if any), the length of the lease term, etc. The other issue to consider is if it makes sense to lock in a home purchase price now in markets where real estate prices are still declining.

When compared to renting, a lease-purchase can be an attractive alternative because it gives prospective buyers an opportunity to own a home before they normally would be able to. There are some advantages to a lease-purchase option such as:

1) Low or No Initial Down Payment. Many lease-purchase options do not require an initial down payment.

2) Equity Advantage. At the end of the lease term, the value of a home may have appreciated over time, which benefits the purchaser.

3) Living Experience. Prospective home buyers have the opportunity to try out a home and neighborhood before purchasing the property.

4) Leverage Advantage. With just a small investment, a prospective buyer can control a property; yet still have the option of not buying the home if market conditions don’t warrant it.

Rent-to-own or lease-purchase option can be an effective strategy to home ownership. However, there are both positive and negative aspects to this type of approach (as described above). A good real estate agent can help you navigate the complex world of rent-to-own and lease-purchase option properties.

From:
http://www.mortgageratesaholic.com/9053/buying-real-estate-using-rent-to-own-and-lease-purchase-options/

5 Reasons Why a Lease-Purchase Option May be the Best Thing for You

Buying a home may very well be one of the most important things you do in life. Once you own your home free and clear, no one can take it away from you. That means you will always have a roof over your head and you will also have a net worth that is somewhat substantial. After all, a home is an equity property. Yet, some may be a little concerned over the process of purchasing a home these days. The real estate market is up and down and there are warnings of future homes being underwater due to an unstable market. So, does this mean you should sit out of the home buying process? The choice whether or not to do that is ultimately up to you. However, there are a number of signs that show it may be wise to explore a lease-purchase venture. Here are five reasons why:

When you lease a home without a purchase agreement, the money that you pay every month goes solely to the landlord. When you have a lease-purchase agreement in place, that amount of lease money is going towards a down payment on the home. This means you are gaining a potential huge value out of your monthly payments which would not be possible otherwise.

On the flipside, if you decide not to purchase, you could simply move out and find another place to live. You could actually even renew the lease agreement without a purchase plan. If you were to purchase the home outright and had a 30 year mortgage, you certainly could not just walk away from it. Well, actually, you could but the consequences would be somewhat severe.

As much as we prefer not to think about it, there may be instances where you will be unable to pay your monthly lease fee. In a worst case scenario, you may be evicted due to failure to pay rent. If this occurs, your credit will be marred and you will need to find another place to live. While this is not a nice scenario to experience, it is certainly much better than having to deal with foreclosure issues.

You can gain a definitive insight on the costs of maintaining the property. No, it is not just that monthly lease fee that comes out of your pocket. The utility bills, the upkeep of the property, and various other fees come into play when living in a home. Upon gaining a clear idea of what the total costs are for owning the home, you can then make an informed decision as to whether or not you wish to purchase the property.

The comfort level of living in the neighborhood will be revealed. Maybe you really don’t like having to drive 5 miles to reach the nearest convenience store. Yes, you really will not get a gauge on how much you like a neighborhood until you spent a little time there. A lease-purchase agreement lets you do this.

http://www.thisisunioncounty.com/blog/2009/09/5-reasons-why-a-lease-purchase-option-may-be-the-best-thing-for-you/