Discovery Bay is a town in Contra Costa County, California with a population of more than 13000 people. It has a large area set aside as a residential area with communities and homes from 1400 sq feet to about 4700 sq feet. Discovery Bay real estate consists of: condos, town houses, coops, lofts and apartments. The real estate in Discovery Bay has been divided into gated and non-gated communities. Gated community is one whereby all houses built all look the same and have little gates and to get through to all the houses there is a main gate. On-gated community is where houses are built neighboring each other each with their own unique design and their own form of gate and security too.
Discovery Bay real estate is built around the Sacramento San – Joaquin River Delta which provides a serene environment around the area and the sound of the waters flowing past by the area. This area also allows for participation in various activities such as golf and water sports. The area comprises of houses that are quite big because the place is habituated by professional skiers, footballers, ice- skaters and the likes.
With Discovery Bay real estate, there are three main categories of real estate that come about during sale of homes: We have short sales, foreclosures and ordinary sales. Foreclosure is a process in which an estate becomes the absolute property of a lending institution after shutting out a mortgagor’s right of redeeming a mortgaged estate. This can be in the case of a bank and a person who has taken up a mortgage and is unable to pay it back. The bank then takes the house and sells it to be able to regain the money borrowed.
Short sales occur when a bank agrees to allow you to sell your home and give them the proceeds even though the amount you give them is less than the total debt owed. That is where the term “Short Sale” comes from, because the sale amount comes up short of the amount needed to pay off the bank in full. One has to get the bank to agree to these terms. In Discovery Bay, this happens sometimes, but not something common because most items of real estate are well priced and affordable for many.
Most houses are built using wood as the main material, this is because of the many different seasons that occur and in case of an environmental calamities. Lumberjacks are in plenty and are available and they do a marvellous job at creating a home that is worth the value of your money and habitable for a very long time. Owning real estate in Discovery Bay would be a very wise investment and the faster you buy, the cheaper it is. You never know, inflation may come about anytime. Invest in Real estates in Discovery Bay today!