Keeping It REAL Estate

Interactive school boundary map

2012-02-11T17:00:00.001-08:00

Great resource to search school boundaries....

Big states are taking the mortgage deal to keep homeowners in their homes...

2012-02-10T17:00:00.001-08:00

Big states are taking the mortgage deal that will allow principle reductions....the only issue is...at this point the nation is 700 Billion underwater this deal only allows for 38 billion is relief...not sure how that is going to work...also, it will take banks awhile to figure it out. Thoughts???

http://bit.ly/wKD9xN

Great info about saving for retirement! What's your number?

2012-02-09T17:00:00.001-08:00

This is a huge elephant in the room in my world...what's the number that you can retire on and live comfortably? What's a number you are comfortable with?

http://bit.ly/wGUiDO

House Junkie Fix...check this house out!!!

2012-02-08T17:00:00.003-08:00

I absolutely love looking at homes that have been given love and attention to detail...check out this wonderful home with understated elegance and comfort at every turn...

http://bit.ly/Ax9ncS

Foreclosure headed in the right direction....down

2012-02-08T17:00:00.001-08:00

Down, down!

http://bit.ly/AArVIc

Top 10 sites for marketing your home...I am glad

2012-02-08T04:00:00.001-08:00

I post on all of these sites...and yes, it does make a difference in the exposure my sellers get for their homes.

http://bit.ly/zb3jn7

What kind of loan is right for you?

2012-02-07T23:00:00.001-08:00

Why You Want a Guaranteed Loan, this is a game changing decision....learn all of your options for long term stability and go from there....questions?

http://bit.ly/ymVISQ

Mortgage Relief Plan 2012...

2012-02-07T04:00:00.001-08:00

Let's see if we can help homeowners not just the banks! Thoughts...

http://bit.ly/yujExK

With Valentine's Day just around the corner...here are some sexy Master Retreats....

2012-02-06T17:00:00.001-08:00

I always love to look at luxurious rooms and get insprired for my own home...how about you? Do these rooms inspire you?

http://bit.ly/xFJ8FI

Great site for Bay Area Real Estate

2012-02-06T04:00:00.001-08:00

Great site for Real Estate in the bay area. listings, loan calculators, links to utilities, local weather and referrals for local service providers. This is a free resource for you!

http://bit.ly/wiiH3g

Cupcakes for superbowl...check it out!

2012-02-05T08:07:00.001-08:00

What are you cooking for your game day gathering?

http://bit.ly/y5EF1i

I get asked this question a lot these days..."Do you have any suggestions for cleaning up my credit?"

2012-02-03T04:00:00.001-08:00

This is some great information and good healthy money practices in general. Have a healthy relationship with money is key and something that is uncommon. I hope you find this useful.

http://bit.ly/x2cC3S

Happy Groundhog Day...ever wonder how this day came to be?

2012-02-02T12:50:00.001-08:00

This morning Phil said we would have a long Winter...I think someone needs to redefine Winter for Mr. Phil because it is February 2nd and it is 65 here in South County...what up!?

http://bit.ly/y901Lg

San Jose ranks # 1 as the Best Place to Find a Job in the US!!!! Finally...

2012-02-01T17:00:00.001-08:00

now I hope it is contagious for the rest of the state...

http://bit.ly/xNFRXl

Selling your home? Keep home preparation and improvements simple

2012-02-01T01:00:00.001-08:00

And cost effective. Every dollar spent in home prep affects your net return on the sale of your home so be smart. When selling, your focus should be on making changes that will generate an offer or perhaps multiple offers.

http://bit.ly/yz8Zoq

Cool futuristic homes...what do you think?

2012-01-31T01:00:00.001-08:00

I am a bit more traditional...white picket fence, tree swing, etc. but some of these are far out!

http://bit.ly/A6JqQd

Banks loosening credit standards...hmmmm, we will see

2012-01-30T17:00:00.001-08:00

This has not been my experience lately in working with many buyers. We will have to see what 2012 holds. Being an election year it is bound to get interesting...what are your thoughts?

http://bit.ly/xcY3uL

Yay all of us! Existing home sales are on the rise!!!!

2012-01-30T12:09:00.001-08:00

Attanasio Properties is now taking new listings!!!!

http://bit.ly/ybMi9R

Banks are attempting to change their ways...let's see what the states have to say

2012-01-25T20:00:00.001-08:00

Proposal to make sure the housing disaster with record defaults and foreclosures doesn't happne again is now on the table . Each state will review and see what agreement can be reached. Keep your fingers crossed.

http://bit.ly/yAxNg0

Ok, we all have them...Bad Habits...

2012-01-25T04:00:00.001-08:00

Here's how to lose those Bad Habits... What bad habits are you trying to kick this year?

http://bit.ly/zEahJ4

How to be a great landlord

2012-01-24T15:00:00.001-08:00

Here are some ideas on how to have a healthy landlord/tenant relationship

http://bit.ly/xhE8Ul

Which Silicon Valley companies added jobs in December....let's keep it up!!!

2012-01-23T04:00:00.001-08:00

Apple, Cisco,Google, all added jobs in December....this could be the start of a very positive trend!

http://bit.ly/AEuX2N

Tips to have a healthy relationship with your money and make it work for you...instead of the other way around....

2012-01-21T15:00:00.001-08:00

Growing up, I can safely say my relationship with money was not great. When I began my professional career and now as a business owner, I have learned to not be afraid of money but to get real and actually figure out a way to make it work for me. What money tips do you have that work for you...comments always welcome!

http://bit.ly/zfTCev

Many homes are upside down in value, that is our new normal...you have to know when to "hold em and when to walk away"

2012-01-20T20:00:00.001-08:00

The question that is on everyone's mind, is strategic default the answer for me?

http://bit.ly/yrtt68

San Jose rents are going up, up, up...

2012-01-20T15:00:00.001-08:00

This is good news to investors and a sign to buyers that the time is approaching when mortgages will be lower than rents...

http://bit.ly/wZCkAk

Great ideas for Winter getaways...are you planning a trip this Winter?

2012-01-19T20:00:00.001-08:00

I actually have set a goal for first quarter to take a mini trip. What plans do you have?

http://bit.ly/zXYl9T

Principal reductions? I am hopeful but will believe it when I see it!!!!

2012-01-19T15:00:00.001-08:00

This is e land of free enterprise. For banks to actually go along with this it would have to be mandated by the government and somehow I think even distressed homeowners will not cross that line and give up liberties... Even when those liberties may cost them their home.... Slippery slope here!

http://bit.ly/z1bX79

OK, a look into an opulent world...thru a house!

2012-01-17T17:00:00.001-08:00

Mansion in Florida boasts a 14.25 million price tag and that is not a record setter...OMG!

http://bit.ly/yo3bSi

Yes...more good news...let's keep it going

2012-01-17T15:00:00.001-08:00

All I can tell you is from my experience with my buyers and sellers and while there are still many challenges (e.g. lending guidelines, short values on most homes), last year was better than the year before. I am planning on the same trend in my California market so it is good to hear that many markets nationally are trending similarly.

http://bit.ly/yYfX64

New Year plans...for your house

2012-01-16T20:00:00.001-08:00

Great ideas to inspire you now that 2012 is here.

http://bit.ly/ycsYeL

Check out these wacky adobes...would you live in a house like this and if so,,,which one? This should be good...

2012-01-16T17:00:00.001-08:00

OK, these adobes are crazy....but to someone it is their castle...

http://bit.ly/wg3lPJ

Homeownership...still the American Dream...

2012-01-16T15:00:00.001-08:00

Even in the leanest of times, it is still a goal to own our very own piece of earth...to be able to paint the walls any color we want, it's a natural instinct that is part of the fabric of this coutry.

http://bit.ly/zarbLL

You are amazing, I hope you know it!

2012-01-14T17:00:00.001-08:00

Knowing how valuable you are is not arrogant, it is necessary to lead a fulfilled life.

http://bit.ly/yukPM3

2012 is the year of living green...here are some tips

2012-01-13T20:00:00.001-08:00

I figure if we add one new green habit, them we are doing better than we did in the past....go ahead, see what you can do...

http://bit.ly/wl1ofO

Tips for sellers

2012-01-13T15:00:00.001-08:00

Always good info...

http://bit.ly/zSC9Wg

Billionaires who never graduated from College,,,interesting insights...

2012-01-12T17:00:00.001-08:00

Anything is possible ...dream big and go for it!!!!

http://bit.ly/xMgbl7

10 things to do with Twinkies...couldn't resist...laughing is healthy!

2012-01-12T10:09:00.001-08:00

Do you have a twinkie memory...? Comment with your memories of your favorite Hostess treat...

http://bit.ly/zI8BJZ

12 ways to sell your house in any market...

2012-01-10T20:00:00.001-08:00

12 solid tips to get your house sold in this market

http://bit.ly/y1KTDq

How to be more interesting in 10 simple steps!!!!

2012-01-10T17:00:00.001-08:00

What makes you interesting?

http://bit.ly/A37NiZ

Being Healthy is another passion and I like to share what works for me. It's not diet,,,it's lifestyle...what works for you?

2012-01-10T07:15:00.001-08:00

Eat more often (typically every 90 minutes) smaller portions and don't forget protein...Going back to the gym tonight after a 7 week layoff due to foot surgery and my eating habits were key while I was endorphin starved...

http://bit.ly/zG0BEd

Cool houses for all of my fellow house junkies...

2012-01-08T20:00:00.001-08:00

Go inside some very cool diggs...

http://bit.ly/x8q6qq

Funniest signs from around the world...this is great!

2012-01-08T17:00:00.001-08:00

If you have taken any pictures of funny signs feel free to comment and post them...

http://bit.ly/wUC5H6

Hiring was up in December, did you notice the effects in your community?

2012-01-08T15:00:00.001-08:00

While more jobs were added, that is always good news, did you notice any positive effects? I think it is always a step in the right direction but can we have some more please? More jobs...like a lot more!!!!

http://bit.ly/zy2vyp

The Fed kicks around some ideas to boost growth in the housing market...some good, some not so good, a must read!

2012-01-07T15:00:00.001-08:00

OK, I do think they should broaden terms of refinance. There is a provision that passed for 125% refinances but lenders have not yet figured out to implement. One idea that I think will absolutely kill the market and banks is to have banks become property managers and rent out the foreclosed homes. Banks are only in the business of lending money to make money, that is their business plan period. If they take on a different segment of the housing business, that is like McDonalds now offering spaghetti on their menu (they actually tried it in some markets and needless to say it bombed).

This is a Washington issue for us to keep watching as some of these bad ideas could have seriously negative consequences. What are you concerned about?

http://bit.ly/vZE9cK

Winter food festivals...what's going on in your area?

2012-01-05T15:00:00.001-08:00

Fun family outings

http://bit.ly/A7L1jO

FHA is ok with flipping houses

2012-01-04T20:00:00.001-08:00

Used to be that you had to wait 90 days to buy when a home was purchased and then immediately offered for sale again, however FHA is going to waive that time period which will make many properties a good fit for first time buyers. Typically flippers purchase homes, clean them up and still offer to sell them at a great value...

http://bit.ly/AkBCab

Pending Sales Rise...good news

2012-01-04T15:00:00.001-08:00

December was a strong month for bay area real estate and for many cities across the nation, according to the National Association of Realtors...interesting article about hopeful trend.

http://bit.ly/xAqptd

Know risks if forgoing your inspection contingency...better yet, don't do it!

2012-01-03T17:00:00.001-08:00

In a competitive market, buyers may compete against other buyers willing to give up their inspection rights...it is an extremely vulnerable position if you purchase without those rights. You are entering into one of the largest investments of your life without full knowledge. As a professional, I have NEVER written an offer waiving those rights for my client., because it puts their good faith deposit at risk almost immediately!

http://bit.ly/va22Uk

Love my Iphone and Ipad2...your thoughts?

2012-01-03T15:00:00.001-08:00

Posted from my ipad2... Competitors say you can't surf as easily on Apple products but that doesn't seem to be stopping us...like if you have an Apple product

http://bit.ly/rHheNb

Time for Elfie to go nighty night for another year, what do you do with all the decorations so that your guest room does not become a year round staging area?

2012-01-01T15:00:00.001-08:00

Comment with any tips you have for storing holiday treasures... Happy New Year!

http://bit.ly/sE1ZDw

Happy happy New Year!!!!

2012-01-01T00:00:00.001-08:00

2012...I know you and I will have great fun, much success, happiness, health and endless possibilities!!!!

All across our great country cities have creative traditions to mark the new year...they aren't just dropping neon balls... That sounds wrong but you get it

2011-12-31T23:00:00.001-08:00

I think Morgan Hill needs to drop something...any ideas?

http://bit.ly/s3y9CT

San Jose in the top trending markets for 2012

2011-12-31T17:00:00.001-08:00

2012 is going to be a great year...putting it out there!

http://bit.ly/tKdDIy

History of New Year's Resolutions

2011-12-31T15:00:00.001-08:00

Ever wonder where our New Year's traditiions come from, why does the big ball drop, why do we drink champagne, why do we make resolutions now ? Interesting info here

http://bit.ly/vlbsfw

Rentals are in demand

2011-12-30T20:00:00.001-08:00

When a homeowner goes thru a short sale or foreclosure there is some time that has to pass before they are eligible to get a home loan again. This has created demand for rentals and this has benefitted investors and builders....it's simply the principle of supply and demand.

http://bit.ly/vMEabb

Homes and New Babies

2011-12-30T17:00:00.001-08:00

I always ask my clients if they have littles or are planning on having them,that is important when considering a space and also general location as schools are a significant consideration.

http://bit.ly/uSV174

History of New Year's Resolutions

2011-12-30T15:00:00.001-08:00

What's your New Year's Resolution?

http://bit.ly/rSEg1h

OK, gotta check this out!

2011-12-29T15:00:00.001-08:00

Being a foodie from way back, I can spend a day looking thru recipe books, let me know what you think of this.

http://bit.ly/v38iN2

What happened on this date in history...

2011-12-28T15:00:00.001-08:00

On this day in 1895, the world's first commercial movie screening takes place at the Grand Cafe in Paris. The film was made by Louis and Auguste Lumiere, two French brothers who developed a camera-projector called the Cinematographe. The Lumiere brothers unveiled their invention to the public in March 1895 with a brief film showing workers leaving the Lumiere factory. On December 28, the entrepreneurial siblings screened a series of short scenes from everyday French life and charged admission for the first time.

This Date in History...

2011-12-27T15:00:00.001-08:00

On December 27, 1932, in the height of the Great Depression, Radio City Music Hall opens! Proving a well known fact that stays true today, even during difficult times, music and dance will lift spirits and inspire and make people believe that things will get better.

Is today important in your history? Please share...

What happened on this day in History

2011-12-26T17:00:00.001-08:00

On Dec 26, 1946, Bugsy Siegel opened the Flamingo Hotel. The hotel was named after Siegel's girlfriend Virginia Hill, her nickname was "The Flamingo" because of her red hair and long legs....

Please share any item of interest that you know of from this day in history...

Rental market is Hot Hot Hot!

2011-12-26T15:00:00.001-08:00

When home owners go thru a short sale or foreclosure there is a period of time before they can purchase property again. It is these good people who are now creating the demand in our rental market. It is likely we will see this demand for a minimum of 2 years.

Do you think distressed former home owners should be allowed to purchase a home less than 2 years after a short sale or 5 years after a foreclosure?

Are you thinking of purchasing a rental, check out the market by searching on Craigslist to see what other landlords are charging in rent for similar properties.

http://bit.ly/scniiL

Principal reduction? Is this the answer?

2011-12-26T14:00:00.001-08:00

Principal reduction, is this too radical for lenders to wrap their heads around?

What do you think?

http://bit.ly/tu1ZJo

Happy Kwanzaa, December 26

2011-12-26T12:00:00.001-08:00

marks this wonderful African celebration centered around the principle of Unity in all things. I love the ideal of this holiday. Have a great day everyone.

http://bit.ly/t5OqK1

Merry Christmas, god bless us one and all!

2011-12-25T09:00:00.001-08:00

May your holiday be filled with all of your favorites!

This year in pictures

2011-12-24T23:00:00.001-08:00

Feel free to share your pictures from 2011.

http://bit.ly/vLmM8P

Existing home sales still moving in the right direction...

2011-12-24T14:00:00.001-08:00

What are your thoughts on our market?

http://bit.ly/sxgHHZ

Letter to Santa

2011-12-24T03:58:00.001-08:00

My family has had a lot of money and health problems this year so Christmas is going to be a little tough. Still we are happy, healthy and together and that is what really matters!

This from a 12 year old child...

See, legal addictive stimulants make me happy...

2011-12-23T05:49:00.001-08:00

Ok, so my drink of choice is as follows:

Iced Grande 5 pump, non fat, no whip mocha

What's yours?

http://bit.ly/s3EUjk

Happy Winter Solstice!

2011-12-22T07:23:00.001-08:00

Great Winter Solstice activities at the mission in San Juan Bautista.

http://bit.ly/uSwukP

Since quite a few of us are baking today...

2011-12-18T15:03:00.001-08:00

If you end up making this let me know what you think...

http://bit.ly/rtngBf

Healthy Holiday Desserts

2011-12-17T18:52:00.001-08:00

Chocolate Truffle Cheesecake

http://goo.gl/6Stro

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2011-12-17T18:51:00.001-08:00

Shopping with family today, great tradition even with the bionic boot still in place. Thank you to my wonderful husband for your patience!

Top Ten Best Christmas Movies Of All Time

2011-12-15T19:23:00.001-08:00

Ah, movie lists! How we love

http://goo.gl/LvJHW

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2011-12-15T05:44:00.001-08:00

Historic day...troops are coming home from Iraq!!!!

11 Healthy Milk Shakes and Smoothies...I am excited about this because unasked Santa for a juicer!!!

2011-12-15T05:43:00.001-08:00

Traditional milk shakes

http://goo.gl/rj0LT

Attanasio Properties on You Tube...

2011-12-14T07:58:00.001-08:00

Love modern technology. Stay tuned to my You Tube channel for interesting insights and I love comments...

Winter Veggies and Fruits

2011-12-14T06:15:00.001-08:00

Eat fresh all winter with root vegetables, hearty greens and more cold-weather staples.

http://goo.gl/R6rrM

11 Tips for Holiday Party Survival

2011-12-08T07:16:00.001-08:00

Here are some tips that can help you get through the season without putting on weight:

http://goo.gl/h70y9

Decent jobs report but it is not enough! C'mon corporate America, start hiring!

2011-12-02T12:05:00.001-08:00

Write a comment about this article.

http://goo.gl/g6naa

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2011-11-22T19:41:00.001-08:00

Pre-Turkey Day Takeout

http://goo.gl/SkKm8

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2011-11-22T19:32:00.001-08:00

App lets you 'see' products in home before buying

http://goo.gl/cEFPK

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2011-11-21T19:43:00.001-08:00

Great news, loan limits to remain at higher level for the next two years!

http://goo.gl/zwnDk

How to Get Crispy Skin ? Thanksgiving Tip of the Day

2011-11-21T06:00:00.001-08:00

For crisper skin, unwrap the turkey the day before roasting and leave it uncovered in the refrigerator overnight. Need help tackling the big bird? Continue reading Food Network’s Top 10 Turkey Tips. Find the perfect turkey for your feast, starting with our most popular ever: Alton’s Good Eats Roast Turkey, an outstanding 5-star standby. Browse [...]

http://goo.gl/hkgde

Market update...For the week of November 14, 2011 for Bay Area Housing

2011-11-15T06:00:00.001-08:00

Investors Playing Major Role in Bay Area Housing Market

By Rick Turley

While the Bay Area housing market has had its ups and downs much of this year, a couple of segments of the market remained resilient through much of 2011. In previous columns, I’ve talked about the strong rebound in the luxury market from Silicon Valley up through Marin. But one other sector has also played an important role in keeping the overall real estate market going: the investment segment.

According to DataQuick, the La Jolla-based real estate information service, absentee buyers – real estate investors for the most part – bought one out of every five single-family homes and condos in August. Buyers paying cash accounted for more than a quarter of sales. And short sales – those transactions where a home sells for less than the homeowner owes on the mortgage – added up to another 20 percent of sales.

The trend has caught the attention of the local news media with the San Francisco Chronicle and San Jose Mercury both running long articles on the topic in recent weeks.

In her article, Chronicle reporter Carolyn Said noted that, “Real-estate investors have become a potent force in a moribund housing market…” She went on to say that, “despite record low interest rates, many consumers simply don't have enough confidence in their economic outlook to buy houses. Investors have kept prices from falling further…”

Today’s market is extremely attractive to investors. Record low mortgage interest rates, coupled with very favorable asking prices for distressed properties and other entry level homes, mean that rental income can easily cover the expenses for a new landlord owner. And given the volatility in the stock market and with other investments, real estate is looking like a better and better alternative.

While not everyone would agree, I think real estate investors are playing an important role in our market. When they buy, they’re often upgrading properties that in many cases are badly in need of maintenance. They’re helping to clear out the supply of vacant, bank-owned properties that can be a blight on neighborhoods. And in general, they’re reducing the huge inventory of distressed properties that serve to keep all home prices down.

"The market would be quite a bit sicker were it not for investors snapping up a lot of the properties," Andrew LePage, an analyst at DataQuick, told the Chronicle. "They account for a meaningful portion of the demand. To the extent to which there's at least a temporary floor under this market, they've helped to build it."

However, real estate investors – many of whom are paying all cash for entry-level properties – are making it hard for some first-time buyers and others to compete for those homes. Given the choice, it’s understandable that a seller would opt for a cash offer that’s likely to close quickly rather than take their chance that a buyer can secure mortgage financing.

Unlike past investors, today’s new landlords are generally not expecting to quickly flip a home for a profit, according to the Chronicle story. Instead, they see are seeking reasonable returns by simply owning and managing a rental property.

Realtors who work with these buyers say that many are first-time investors who like the long-term potential of investing in real estate over other investment vehicles. With prices and interest rates this low, they reason, there may never be a better time to jump in.

It’s also important to remember that most housing recoveries are preceded by a rise in rental housing rates. This has two effects, both positive for our housing recovery. The rise in rents attracts more investors as purchasers. As we noted earlier, they also unfortunately cause stiff competition among first-time buyers; but in some areas these investors are necessary to help stabilize hard-hit foreclosure areas and thus stabilize pricing. The other effect of rising rental rates? It causes more renters who qualify for homeownership to consider a purchase, especially with today’s interest rates.

As we approach a New Year, we are expecting more and more ofboth types of buyers in 2012 to come to the same conclusion.

Below is a market-by-market report from our local offices:

North Bay – Our Greenbrae office just reduced the price of a home in Kentfield in the $2.2 range and received multiple offers. Buyers are out there and perhaps coming out a little more aggressive in the search now. The Chronicle article on investors buying local homes has been encouraging for buyers to get into the market. In Northern Marin, agents are reporting a definite increase in open house traffic. We are seeing more multiple offers on well-priced properties. There has also been an increase in floor calls and walk-ins of interested buyers. In Petaluma, the competition is fierce for buyers in the under-$500,000 price range. The inventory is dwindling and well-priced properties are snatched up as they come on the market. With Sonoma County featured as one of the top 20 destinations by National Geographic, many buyers are trolling the open houses. First-time customers are becoming more and more common. The Santa Rosa market remains steady with some increase in REO inventory and a number of new escrows. Finally in Sebastopol, the majority of activity is in the lower end of the market with emphasis under $400k. One new listing in the country, priced at $399k, attracted over 22 groups. We are seeing a little activity in the move up range of $600-$800. Low appraisals continue to be problematic.

San Francisco– Our Lakeside office manager declares “outstanding lenders or cash” - that is what it takes to buy a home in this market. In spite of the dramatically low interest rates, deals are being held up by the lender’s increasingly high hurdles for property qualification. Buyers are being weighed down by poor lender choice. Still, we are finding a large number of cash buyers who can sail through transactions without the underwriting obstacles. Meanwhile, the Market Street office says sales activity is increasing and they finished a strong October with new transactions. The strategy seems to be price to sell or even price to induce multiple offers. The average list-to-contract time frame is less than three weeks, and on average they are selling at or slightly above asking price with 64% of the transactions seeing multiple offers. The Sunset office reports decreasing inventory but steady sales while the Van Ness office says inventory and sales activity have been steady in recent weeks.

SF Peninsula— Our Burlingame offices report that light inventory is fueling multiple offers for well-prepared and priced homes. There are waiting buyers out there. One home had over 200 attendees at open house and sold on the spot to a well-prepared buyer who had lost out in other recent multiple offers. The home had been carefully prepared and staged by the agent down to the last detail. In the Previews market, inventory is beginning to come off for the holidays if it has been on the market for a while, with sellers anticipating a better, more optimistic spring. At the same time there are some fabulous buys in Hillsborough at this time. Nov. Dec. could be the best time to negotiate with little competition. Across the hill in Half Moon Bay, the market has for $750k to $1m homes has been slow. However, homes in the $550k range move quickly, as do second homes over the $1.5m, sometimes for all cash. Our Menlo Park offices say inventory continues to be scarce. Open houses have been busy and the office is getting a lot of calls and walk-ins from interested buyers. In Palo Alto, the market changes on a weekly basis. In general, there’s very short inventory – including Palo Alto and surrounding communities, Mt. View particularly, compared to last year. The move-up market is slow and as a result we are slow to see new inventory. There also has been a serious lack of inventory, according to our Redwood City office, with most sales activity in the lower-price ranges. Sales activity has slow in the San Mateo market, possibly due to a lack of inventory, the uncertain economy or the upcoming holidays. Finally in Woodside, both inventory and sales activity are down in a fairly quiet market.

East Bay– Berkeley agents are busy working with buyers, getting price adjustments from sellers who want to move their properties, and telling renewed horror stories of appraisers creating obstacles by reading online disclosure packets and demanding repairs/clearances. Our Castro Valley office reports increasing inventory and steady sales activity. Inventory continues to decline in the Danville area while the buyers are becoming more active. Inventory stands at about 2 ¼ months in the San Ramon Valley - San Ramon and Danville are very active, while Alamo and Blackhawk are very slow. Our Livermore office reports inventory is increasing while sales are steady. In Fremont, both sales and listings are increasing. Our Oakland-Piedmont office says listings have picked up with clients making the decision to get their house sold before year-end. Open house activity was steady even at properties that have been held open for several weeks. Buyers are still being very discerning and don’t exhibit any urgency in writing an offer quickly. Our Orinda manager says it’s becoming more difficult to obtain loan docs and loan approval. Extensions of escrows are becoming more common. In Pleasanton, the local market has been steady with buyers still out there looking. Finally in Walnut Creek, our local office says inventory remains low and there are multiple offers on all well-priced properties.

Silicon Valley– Steady sales activity is reported in Cupertino. With inventory declining, open houses are busier than ever. In Los Altos, sales activity is increasing including a small increase in the $2 million and up market. Open houses are well attended at new single-family listings. Our Los Gatos manager says that overall, the high end continues to remain strong. Inventory remains low in most entry-level markets. The San Jose Almaden office says sales activity has been steady. Properties are selling, but buyers wish there was more to choose from. Pending sales in this region are 10% up over last year at this time but listings are down 33%. Low-end buyers are having trouble competing against all-cash or large-down payment buyers. All properly priced listings are getting multiple offers. The San Jose Main office also has seen a continued drop in inventory but activity at open houses is very strong. There are multiple offers on most homes in a variety of price ranges. Low interest rates and low inventory are main factors in the multiple offers we are currently experiencing. And our Willow Glen manager reports that regular sales are taking a little longer to close than expected and banks are slowly approving short sales. The Saratoga market seems like it’s slowing, which is normal this time of year.

South County– The Gilroy and Hollister markets both saw an uptick in REO listings coming onto the market. Open houses have been fairly well attended, but a lot of buyers are sitting on the fence. Sales are slow. Inventory is steady, but low for both markets. Gilroy has 3.3 months of inventory and Hollister has 3.6 months of inventory. Our Morgan Hill manager says that as the year winds down, the number of Morgan Hill listings has increased dramatically, but the ratio of listings to sales has decreased. In January 2011 there were only 138 listings available in Morgan Hill—with 27 closings (20%). October showed 311 listings with 51 closings (16%). While sales are up from the first months of 2011, a lower percentage of listings are actually selling. Prices on the other hand are down. The average sales price of a single-family home in Morgan Hill has dropped from a high of just under $600,000 to about $475,000 (a 25% differential). Morgan Hill remains a buyer’s market—many listings, good prices and great interest rates.

Santa Cruz – As we move into November and toward the end of the year and the holiday season, sales continue to be steady in the Santa Cruz area. There is definitely more activity in the under $600,000 price range, heavily influenced by short sales and REO business. We are finding some of the banks on the short sales are reacting much more quickly and we are seeing a shorter process with some of lenders, Chase being one of them. On “organic deals” financing is the biggest hurdle and agents need to pre-approve and counsel their clients through the buy process. Appraisals are all over the map, and we have had a couple of deals where the property did not appraise and the buyer and seller were able to come to a successful resolution and the sale went through. It is all about perceived value for the buyers. The home has to be a really good deal – and sometimes even then, the property may sit on the market.

Monterey Peninsula –The beat goes on with the steady activity in the Monterey Peninsula marketplace. These low mortgage rates seem to have brought some of those hanging-back buyers into the market, especially in the lower prices ranges. In looking through the lower priced homes in Seaside and Marina, for instance, we see that most of them are pending with very few “actives” on the market. And on the other end, the higher-priced properties, the volatility in the stock market may be contributing to increased sales there, many of them all cash. While we normally would be beginning to slow down about now, we continue to have a pretty consistent number of sales each week.

Make Room in Your Cabinets ? Thanksgiving Tip of the Day

2011-11-14T07:48:00.001-08:00

http://bit.ly/u0RHL7

Shop for non-perishable goods now. You can buy flour, sugar, brown sugar, corn syrup, canned pumpkin, rice and cranberries, all before the crowds descend. Wait until the day before Thanksgiving to buy fresh vegetables, seafood and bread. Let the Thanksgiving Countdown Begin ? 2 Week Checklist Browse more of Food Network?s Thanksgiving recipes and tips.

Economic Reports affecting home loans this week!

2011-11-14T07:47:00.001-08:00

This week brings us the release of six monthly economic reports for the markets to digest. With very important data scheduled for release two different days and relevant data four of the five days, we will likely see a fair amount of volatility in the markets and mortgage pricing this week.

There is nothing scheduled for release tomorrow, leaving the bond market to movement in stocks and overseas news. As of this evening, it appears that bonds are going to react negatively to news from Europe, meaning stocks may start the week off in positive ground. That can change between now and the opening bell tomorrow morning, but as of now it appears we may see some pressure in bonds and a possible increase to mortgage rates tomorrow.

The first data is one of the most important reports of the week. The Commerce Department will give us October's Retail Sales figures early Tuesday morning. This data measures consumer spending, which is considered extremely important to the markets because it makes up two-thirds of the U.S. economy. It is expected to show a 0.4% rise in spending, meaning consumers spent much less last month than they did in September. A larger increase would be considered negative news for bonds because large increases in spending fuels an economic recovery and raises inflation concerns in the marketplace. If Tuesday's report reveals a smaller than expected increase in spending, bonds should react favorably, pushing mortgage rates lower. If it shows a larger than expected increase, mortgage rates will likely move higher.

Also Tuesday is the release of October's Producer Price Index (PPI) from the Labor Department, which is one of the two key inflation readings on tap this week. The PPI measures inflationary pressures at the producer level of the economy. There are two portions of the index that are used- the overall reading and the core data reading. The core data is the more important of the two because it excludes more volatile food and energy prices. If it reveals stronger than expected readings, indicating that inflationary pressures are rising at the manufacturing level, the bond market will probably react negatively and cause mortgage rates to move higher. Analysts are expecting to see a 0.2% decline in the overall reading and a 0.1% increase in the core data.

Wednesday also has two reports scheduled that will likely influence mortgage rates. The first is October's Consumer Price Index (CPI) at 8:30 AM ET. This index is similar to Tuesday's PPI, except it measures inflationary pressures at the more important consumer level of the economy. We consider this report as one of the most important reports we get each month. The overall reading is expected to show no change from September’s level while the core data is expected to rise 0.1%. Weaker than expected readings would be good news for bonds and mortgage rates, while larger than forecasted increases could lead to higher mortgage rates Wednesday.

October’s Industrial Production data will be posted mid-morning Wednesday. It gives us a measurement of manufacturing sector strength by tracking output at U.S. factories, mines and utilities. It is expected to reveal a 0.4% increase in production, indicating moderate strength in the manufacturing sector. Stronger levels of production would be considered bad news for the bond market and mortgage rates, but this data is not as important as the CPI readings are. A significant surprise in the CPI would likely make this data a non-factor in Wednesday's mortgage pricing.

Thursday’s only monthly data is October's Housing Starts. This data gives us an indication of housing sector strength, but usually does not have a noticeable impact on mortgage rates. I don't expect this month's version to be any different unless it varies greatly from analysts' forecasts. It is expected to show a sizable decline in starts of new homes.

The final report of the week will come from the Conference Board late Friday morning when they release their Leading Economic Indicators (LEI) for October. This is a moderately important report that attempts to predict economic activity over the next three to six months. It is expected to show a 0.6% increase, meaning economic activity will rise fairly rapidly over the next couple of months. Generally speaking, this would be bad news for bonds. However, since this data is considered only moderately important, its results need to vary by a wide margin from forecasts for it to affect mortgage rates.

Overall, look for Tuesday or Wednesday to be the most important with very important reports scheduled those days. It is difficult to label any particular day as the quietest day, but Thursday is a good candidate. The key releases will be Tuesday's Retail Sales and Wednesday's CPI reports. They will probably determine whether rates close the week higher or lower than tomorrow's opening levels. Since this is likely to be a fairly active week for mortgage rates, it would be prudent to maintain regular contact with your mortgage professional if still floating an interest rate.

Information courtesy of Joe Patterson with Princeton Capital. (408)674-7438.

Occupy Movement...from the viewpoint of a member of the middle class and part of the 99%

2011-11-11T05:10:00.001-08:00

Thanks Occupy wherever movement for costing me and my family and everyone else in the middle class thousands to clean up your mess! You harbor those with aimless, mindless ambition, murderers, junkies, those who are bored with their situation but unwilling to do what they need to do to make a change! I realize there are two of you with honorable intentions but the homeless and the druggies are not helping you to communicate your message...by the way...what is your message? That's right you aren't sure!!!

Correct link...good news on the housing market and where we are headed

2011-11-08T15:13:00.001-08:00

http://bit.ly/sOfqb1

Some good news on South Bay home prices

2011-11-08T11:03:00.001-08:00

http://bit.ly/rPuhk7

South bay making news with increasing projected home prices. Would love your thoughts...

Auction experience Part Two

2011-11-07T07:01:00.001-08:00

As the "bike messenger" announced the various properties, in every neighborhood from Saratoga to South San Jose, no one bid on the properties. So when no bids were received the bank just took the property back and the foreclosure sale was complete on those properties. That happened with 99% of the list. However, when the home my client was interested in was announced, there were three different bidders. The auction bids started at 245K and the winning bid was 245,100. The bidder did not have to go higher and that lucky investor won the property. As my client went largely to see how the process worked he did not move forward on the bid. I would still be cautious before investing in an auction home unless you have done a previous title search. It can be costly to clear secondary liens and tax liens and those must be cleared or satisfied for title to be clear and to transfer title to a subsequent buyer in a flip.

If you are an investor with a team of rehab specialists and with some title support, then an auction may be a good option. My advice, gather as much information on the property prior to auction and then move forward with eyes wide open.

Thoughts...?

One-Hour Improvement Projects

2011-11-07T06:00:00.001-08:00

http://aol.it/vXEROT

"I always like to see a front door with a fresh coat of paint. It makes a home really welcoming. Just sand down any old lumps or peeling paint patches, then brush on some exterior paint (semigloss) in a color that stands out."

What to do with the Pumpkin that remains...Squash and Pumpkin Soup

2011-11-02T07:00:00.001-07:00

http://bit.ly/tldIcx

There are so many beautiful (and strange-looking) squash at the market right now. Sure, they’re great for a table centerpiece for Thanksgiving, but why not cook with them as well? Turn acorn, butternut, fairytale (yes, fairytale) and more into a delicious fall soup. Add in some pumpkin and you’re cooking the best of what fall [...]

Buying a home at auction...different experience

2011-11-01T13:49:00.001-07:00

I accompanied an investor client recently to the courtroom steps in downtown San Jose. He had his eye on a Victorian that was going to auction. The home was recently sale pending at a price of $300,000 but the bank was auctioning the home for $245,000. The experience itself is one worth noting. As there are many steps in the process to buying a home at auction, I will be sharing the process in several blogs and would love to hear of anyone else's auction experiences. As a Realtor, this is not our stage, but many of my clients are now purchasing at Auction and then holding the properties as investments or selling them for a profit (aka flipping).

When we arrived we were the only ones at the back of the courthouse downtown and there was no indication that this was the place. After awhile, a gentleman who looked like a bike messenger joined us. He did not indicate that he was the auctioneer, a competing buyer or otherwise. He just showed up. As 10am approached, the auction hour published by the trustee...several more people arrived, it was a very eclectic group. At 10am, the "bike messenger" opened a black notebook and announced that he would read the properties for sale at auction that day, and he told us quickly that a prospective buyer would need to present good funds, a cashiers check, for the exact bid amount. As a Realtor, this was all a bit suspicious, this did not appear to be a person licensed to sell or auction Real Estate, no business cards, no name tags, no company reputations to give us any sense of security. Yet, my client was expected to present his cashiers check to this gentlemen and then be prepared to take ownership immediately. There are no disclosures, no title reports, no tax statements, Nada! I suppose that goes against my grain as the details are the key to protecting my clients. Stay tuned for more of the auction experience. Again, I welcome your comments.

A Few Tips for Homeowners Before You Begin the Short Sale Process:

2011-11-01T07:00:00.001-07:00

http://bit.ly/w4V79d

As a homeowner you should carefully consider your options as soon as you experience challenges when it comes to your financial ability to maintain your home (see “Know Your Options” on this website). Many of the options are geared … Continue reading →

Consumer spending debunks new recession theories

2011-10-31T12:24:00.001-07:00

http://bit.ly/ugEpIM

Commentary: European debt deal is another 'can-kick'

Happy Monday and Happy Halloween!

2011-10-31T07:59:00.001-07:00

Happy Monday and Happy Halloween!

Stock market's message: Maybe things aren't so bad after all?

2011-10-28T14:03:00.001-07:00

http://bit.ly/sPyEhH

Stock market powered forward Thursday with the Dow rising nearly 340 points. By one measure, October could be the Dow

Sellers: Letting Go

2011-10-25T05:30:00.001-07:00

http://bit.ly/tVbPL9

The decision to sell your home can come with a mixed bag of emotions. There is uncertainty and fear about how quickly your home will sell and for what dollar amount. There may be guilt about leaving behind family, friends, or neighbors. You may also feel anxiety about what is to come.

Should be an interesting day... Happy Tuesday all!

2011-10-25T05:29:00.001-07:00

Should be an interesting day... Happy Tuesday all!