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Wednesday, February 06, 2008
Real Estate Seminar Feb 9th
Home owners you are cordially invited to a specal retirement and equity planning seminar. This event features:
- Estate Planning & Legal Considerations
- Common Real Estate Tax Errors
- Renting as Part of Your Plan
- Reverse Mortgages
- Costly Home Seller Mistakes
- Retirement & Senior Housing Options
- Ways to Reduce the Stress of Moving
- Retirement Community Offerings
Saturday February 9. 8:30am to 12:30pm
Crown Plaza Cabana, Cyprus Room
4280 El Camino Real - Palo Alto, California
Mediterranean Breakfast Served
Admission is free!
RSVP: 650-853-7100 - rglenn@cashin.com
Flyer.pdf
Friday, December 14, 2007
According to REIL number of closed sales in SCC was 511. Average price was $1,047,683. Average day in the maket was 46 days. Number of new listings were 1,313. % of LP received was 98.73%. For details check the stats page.
According to REIL number of closed sales in SM was 290. Average price was $1,213,364. Average day in the maket was 43 days. Number of new listings were 465. % of LP received was 97.94%. For details check the stats page.
Wednesday, August 08, 2007
Interest Rates for August 8, 2007*
30 year fixed (Conforming) -- 6.375%
15 year fixed (Conforming) -- 6.00%
30 year fixed (Jumbo) -- 7.00%
15 year fixed (Jumbo) --6.5%
5/1 Jumbo ARM -- 6.25%*
7/1 Jumbo ARM -- 6.25**
* Rates are based on Full Doc, Credit Score >700, 30 day lock, 80% loan-to-value - 1 Point
** Add .125 to the Rate for Interest Only.
Cell (650) 575-8284
Cell (415) 710-4210
Guarantee Mortgage
Tuesday, July 10, 2007
Why should you professionally stage your home?
You will make more money- US Housing and Urban Development reports that a staged house sells, on average, 17% higher than a non-staged house.
Your house will self faster = Less headaches and hassle – The New York Village Voice reported that the average number of days on the market for a staged house was 13.9 versus 30.9 days for an unstaged house.Staging is designed to differentiate a house, to create emotion, which translates into more offers and more money.
The cost of staging, doesn’t cost a dime – Because I, as your listing agent will Pay for it! $2000 to $3000 Value!
Only 10% of homebuyers can visualize the potential of a home – that’s why staging a vacant home in critical! You don’t want the benefits of your beautiful home left up to buyer’s imagination. It is important to warm up an empty home. A vacant home seems cold and uninviting.
Studies show that the longer your home stays on the market the lower your selling price will be – Don’t settle for less and lower your price.
Leaving your house in “As Is” condition will help sell the competition – Right now the number of homes for sale on the market is at a record high, competition is getting stiff and buyers have an expectation when they walk through your door.
Thursday, June 07, 2007
SB 464 (Kuehl) which forces landlords to stay in business for at least 3 YEARS and requires that landlords give ALL tenants a ONE YEAR notice of termination of tenancy, should ANY tenant be a senior (62 years of age or older) or disabled. C.A.R. opposes SB 464 because it is an outrageous attack on private property rights and because it will cause fewer rental units to be available to families who need them.
Wednesday, March 14, 2007
Home Sales Still Show Huge Profit
Contrary to media reports of doom and gloom, over 95 percent of Bay Area homeowners who sold their home in December in San Mateo County made a profit of over 50 percent, and almost half made a profit of at least 100 percent!
The study, by First American Real Estate Solutions, focuses on the median profits yielded from recent re-sales of single-family homes. Numbers for Santa Clara County were also strong with almost 89 percent making a profit of over 50 percent. The median time between sales, or lenght of home ownership, was about six years.
Thursday, March 01, 2007
Boosted by a brighter outlook for the labor market and present day business conditions, consumer confidence rose for the third consecutive month in February and now stands at a five-and-a-half year high, according to yesterday's report from The Conference Board. The Consumer Confidence Index improved to 112.5 (1985=100) this month, up from 110.2 in January and 1.5 points below the last high of 114, reached in August 2001.
While nearly 30 percent of consumers assessed current business conditions as "good," helping lift the Present Situation Index from 133.9 to 139 this month, consumers' outlook for the next six months remained nearly unchanged from January. "All in all, it appears that the pace of economic growth exhibited in the final months of 2006 has carried over into early 2007 and may have even gained a little momentum," said Lynn Franco, director of The Conference Board Consumer Research Center.
Monday, January 08, 2007
Customary Closing Costs
The following will show who customarily pays for certain fees in the purchase or sale of a property in the listed counties. This is only a guide and practices may vary in the negotiation of your contract.
|
County |
Escrow Charges |
Title Fees |
County Transfer Tax
Per $1,000 |
City Transfer Tax
Per $1,000 |
| San Mateo |
Buyer Pay |
Buyer Pay |
Seller Pay $1.10 |
1/2 Buyer-1/2 Seller
Hillsborough $0.30
San Mateo $5.00 |
| Santa Clara |
Seller Pay |
Seller Pay
ALTA Buyer |
Seller Pay $1.10 |
1/2 Buyer-1/2 Seller
San Jose $3.30
Palo Alto $3.30
Mountain View $3.30 |
Friday, January 05, 2007
CONSUMER CONFIDENCE HITS EIGHT-MONTH HIGH
Following a two-month decline, the confidence level of the nation's consumers took an upward turn in December, according to a recent report from The Conference Board. The Consumer Confidence Index improved to 109.0 (1985=100) last month, up from 105.3 in November and nearly reaching the last high of 109.8, which was achieved in April. Also in December, the Present Situation and Expectations indexes increased to 129.9 and 95.1, respectively.
"Despite the latest improvement in the Index, there is little to suggest that the pace of economic activity in the final quarter of 2006 is anything but moderately better than its uninspiring performance earlier this year," said Lynn Franco, director of The Conference Board Consumer Research Center. "Given the see-saw pattern in recent months, it is too soon to tell if this boost in confidence is a genuine signal that better times are ahead."
Tuesday, November 21, 2006
AMERICANS VIEW HOUSING AS A STRONG INVESTMENT
As the housing market continues to stabilize, homeowners across the country rate their homes as their most valuable investment, according to a recent study conducted on behalf of the National Association of Home Builders (NAHB). Nearly seven of 10 homeowners list their home as their top investment, while 11 percent rate 401(k) and other retirement accounts as their best investment.
Eighty-one percent of homeowners also remain confident that the value of their home will increase during the next five years, while 13 percent felt their home value will decline. "We are in the midst of an inevitable adjustment following the housing boom of 2004-2005 when housing market activity soared to unsustainable levels," said NAHB Chief Economist David Seiders. "Housing demand should stabilize in short order and the downward adjustment to housing production should run its course by mid-2007. The market that emerges from this correction will display good balance between supply and demand and move to a healthy and sustainable trend based on solid underlying fundamentals."
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Monday, November 20, 2006
Survey Shows Buyer and Sellers Use Technology and Want Personal Service
The role of the REALTOR® continues to be an important factor in the real estate transaction for consumers, according to NAR's "2006 Profile of Home Buyers and Sellers." Despite the increasing use of technology during the home-search process, 81 percent of buyers who used the Internet to search for a home ultimately purchased their home through a real estate agent. According to the study, buyers listed several benefits to using an agent, including the agent's knowledge of the home-buying process, the property, and the area. Additionally, word-of-mouth recommendations continued to be the leading way buyers found their agent.
The survey also found that more than 80 percent of sellers used a full-service brokerage, while 9 percent used limited services. The percentage of for-sale-by-owner (FSBO) transactions has decreased over the last few years, reaching a record-low of 12 percent this year.
Friday, November 10, 2006
Q- How do I know which school my children go?
Almost all public schools have attendance zones, usually the immediate neighborhood. The school comes with the neighborhood; usually you have no choice. Your address determines your school.
Always call the school district to find out what school your children will be attending. Sometimes school districts change attendance boundaries and do not inform local Realtors. Sometimes crowding forces kids out of their neighborhood schools. It’s always good to go to the first source.
Just say something like, “I’m Mr./Mrs. Jones and we’re thinking about moving into 1234 Main Street. What school will my six-year-old attend? Ask what elementary school your child will attend and what middle school and high school.
Keep in mind that although a district scores high, not all the schools in the district may score high. In some districts, scores vary widely. School districts legally are separate from municipalities and quite often school district and city boundaries will differ. Just because you move into the City of San Jose does not mean your children will attend the schools of the San Jose Unified School District.
Tuesday, November 07, 2006
Clues to Real Estate Market
Some may wonder how they could measure the pulse of the local real estate market. Here are some of the indicators that can give you a cleaer picture of where you local market is headed. Follow this link.
Monday, November 06, 2006
The U.S. population will hit a landmark 300 million before the end of 2006, the U.S. Census Bureau says, just 91 years since it hit 100 million. For real estate, the changes over those years are significant. For starters, the price of a new home has climbed almost 9,000 percent.
|
|
1915 |
1967 |
2006 |
%change 1915-2006 |
|
Population (in million) |
100 |
200 |
300 |
200% |
|
Median age |
24.1 |
29.5 |
36.2 |
50 |
|
Home-ownership rate |
45.9 |
63.6 |
68.9 |
50 |
|
New-home price (in dollars) |
$3,200 |
$24,600 |
$290,600 |
8,981 |
|
Foreign-born citizens (in million) |
13.5 |
9.7 |
34.3 |
155 |
Friday, October 27, 2006
C.A.R. Sales Report
Home sales decreased 31.7 percent in September in California compared with the same period a year ago, while the median price of an existing home increased 1.8 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported.
C.A.R.’s Unsold Inventory Index for existing, single-family detached homes in September 2006 was 7 months, compared with 3.2 months (revised) for the same period a year ago. The index indicates the number of months needed to deplete the supply of homes on the market at the current sales rate.
. Thirty-year fixed mortgage interest rates averaged 6.4 percent during September 2006, compared with 5.77 percent in September 2005, according to Freddie Mac. Adjustable mortgage interest rates averaged 5.56 percent in September 2006 compared with 4.51 percent in September 2005.
. The median number of days it took to sell a single-family home was 54 days in September 2006, compared with 30 days (revised) for the same period a year ago.
. Statewide, the 10 cities and communities with the highest median home prices in California during September 2006 were: Los Altos, $1,545,000; Manhattan Beach, $1,465,000; Newport Beach, $1,350,000; Burlingame, $1,330,000; Los Gatos, $1,212,500; Rancho Palos Verdes, $1,150,000; Danville, $1,014,500; Cupertino, $968,750; San Clemente, $940,000; Santa Barbara, $917,500.
. Statewide, the 10 cities and communities with the greatest median home price increases in September 2006 compared with the same period a year ago were: Los Gatos, 38.6 percent; Delano, 31.7 percent; Paramount, 26.9 percent; Inglewood, 24.5 percent; Colton, 23.8 percent; Barstow, 22.4 percent; San Juan Capistrano, 21.8 percent; Irvine, 19.1 percent; Lake Forest, 15.4 percent; Compton, 14.9 percent.
Friday, October 13, 2006
What are these creatures in the termite report and how do I get rid of them?
Wood destroying pests and organisms
Wednesday, October 04, 2006
Cost vs Value Report
What is the payback for remodeling?
This annual report compares construction/remodeling cost with resale value in San Francisco area. Unfortunately I do not have the permission from the publisher to display the report on my website, but I am allowed to mail a hardcopy of it. So, if you are interested please don’t hesitate to contact me via email or give me a call and I’ll be more than happy to mail you the full report. Thanks for your understanding.
Tuesday, October 03, 2006
5 Worst Kitchen Design Mistakes
When you are remodeling or designing your kitchen it is important to design an efficient and functional layout. Consumer Report identifies top five worst kitchen design goofs in its August issue.
- Oversized island: Consumer report suggest not to go over 36” to 48” deep and 36” to 120” wide. Also you should leave at least 42” between the island and surrounding cabinets.
- Not maximizing storage: Besides the linear footage of cabinets you should wisely choose where you put them. For instance, you definitely need some cabinet space above the sink and dishwasher, some near the oven and also near the cooktop. Convert the wasted spaces to lazy Susans, pull-out shelves and etc.
- Ventilation is crucial. Choose your above cooktop hood meticulously.
- Insufficient lighting: make sure you wire for under-cabinet fluorescents lights because you need enough light when you are working at the counter.
- Do you have a place for garbage? You need to put aside two 30-quart containers for trash and recyclables. The desirable place for them is in the base cabinet under sink and opposite the dishwasher.
Interestingly the report suggests that the pro-style appliances do not necessarily translate to better performance. You are basically paying mostly for the look not the performance.
Sunday, October 01, 2006
Affordability and First-Time Buyers
- Sara Sutachan, Associate Research Analyst
Robert A. Kleinhenz, Ph.D., Deputy Chief Economist
The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) has measured housing affordability with its Housing Affordability Index (HAI) since the mid-1980s. The HAI refers to the percentage of households that can afford the median priced home. It might be called a “traditional index” in the sense that it assumes traditional real estate financing terms: a 20 percent down payment, prevailing interest rates, and the condition that the monthly payment not exceed 30 percent of a household’s gross income. more
Saturday, September 23, 2006
Where Buyers Come From?
To market your home effectively, it's important to understand where potential buyers can be found.
Statistics show that real estate agents are the single best source for bringing buyers to your home. More than four times as frequently as newspaper ads, three times as often as yard signs and twice the number from other sources, it's agents who will let buyers know about your home.
Wednesday, September 20, 2006
Some interesting numbers
The percentage of buyers who are single has increased this decade.
|
|
2001 |
2005 |
|
Female |
15% |
21% |
|
Male |
7% |
9% |
Meanwhile, the percentage of first-time buyers who are under 25 has edged up.
|
|
2001 |
2005 |
|
Under 25 |
11% |
14% |
Source: 2004 & 2005 NAR Profle of Home Buyers and Sellers, NAR Research
Generation Y households aren't waiting as long as baby boomers and Gen X'ers to become first-time buyers.
|
|
Average age of
first-time home buyers |
|
Generation Y
born 1979 to 1994 |
26 |
|
Generation X
born 1965 to 1978 |
29 |
|
Baby boomers
born 1946 to 1964 |
29 |
Source: Century 21 First-Time Homebuyer Index, 2006
Sunday, September 17, 2006
What is 1031 Exchange?
Monday, September 11, 2006
Why do you need to fill in the interest rate and points on the purchase agreement (Offer)?
You need to insert the financing terms (maximun interest rate and maximum loan fees/points) in order to protect yourself. Every buyer is obligated to act in good faith. If you do not indicate any financing terms, then you are obligated to obtain any loan regardless of how high the interest rate or how many points are required to obtain the loan. By not completing the financing section, you're depriving yourself from the option to cancel should you not be able to obtain an interest rate at or below a certain percentage rate or limited to a certain number of points.
Sunday, September 10, 2006
What is Magen's Law?
For more than 50 years, California has required sex offenders to register with their local las enforcement agencies. However, information on the whereabouts of these sex offenders was not available to the public until the implementation of the Child Molester Identification Line in July 1995. The information available was further expanded by California's Magen's Law n 1996. California's Magen's Law provides the public with centain information on the whereabouts of sex offenders so that memebers of our local communities may protect themselves and their children. By going on Office of Attorney General of state of California website you can view information on sex offenders required to register with local law enforcement under California's Megan's Law.
Wednesday, August 30, 2006
Buy or rent?
Well, take a look at following PPT presentation. Hope it helps.
Buy vs Rent
Saturday, August 26, 2006
Q- What is property Tax exclusion: Proposition 60? How do I transfer my original property value to my replacement property?
A- If you are over 55 years of age you should be very interested in following information. Proposition 60 and 90
Monday, August 07, 2006
Q- Do I need to disclose the previous water damage if I decided to sell my house?
A-Yes you do. When you list your house, by California law you are required to disclose to a Buyer all material facts. Here are two PRDS forms needed to be fill out by seller. In these two forms (called TDS and Supplement to TDS forms) sellers are required to disclose any current or pass damages or repair or remodelings they have done in the house. You need to fill this form out to your best of your knowledge and be really honest. Full disclosure of material facts reduces the risk of subsequesnt disputes.
I highly recommend you go through these forms and get yourself familiar with it. If you have any questions please don't hesitate to contact me.
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