Is this home located in an area and does it have access to amenities that make it conducive to a neighborly, civic lifestyle? Based on this criteria, and the points below, we believe so!
This three-bed, two-and-a-half-bath Martinez home is located in a zip code with a low investor score and where 68.2% of homes are occupied by the owners. The home has a front porch patio and elevated backyard deck perfect for entertaining and chatting with neighbors. As part of an HOA, the home has access to the community pool, sauna, playground, and tennis court. It is within a few minutes drive from Mountain View Park and several houses of worship.
This combination of low investor presence, a high percentage of owner occupancy, and community-friendly amenities earns this home ZeroDown’s 'Neighborly' Hot Pick.
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To ensure that the buyer (and lender) is paying a fair amount for the home, buyers insert an appraisal contingency, which allows the buyer the ability to walk away from the purchase without penalty if the appraisal returns a value lower than a set value (usually the purchase price). Aside from walking away, the buyer can renegotiate for a lower price with the seller, request that their lender make an exception, and approve their loan as if the property had appraised to match the purchase price or make up the difference between the purchase price and appraised value via their own funds. In most cases, if the buyer makes use of the appraisal contingency to walk away, they are likely to receive a complete refund of their earnest money. However, buyers must be cautious and include this in the contract to avoid problems at a later stage.
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