Miss The Federal Housing Tax Credit? Here Is Your Chance!
Many people missed the federal housing tax credit that ended a few months ago at the end of April this year. I personally met a good amount of potential buyers that were interested in purchasing a home and according to them they were motivated by the possibility of receiving the federal housing tax credit. It seems that now that the tax credit is no longer being offered many of those people are no longer interesting in purchasing home or at least would like to wait a little bit longer. Why I ask?
During the time that the tax credit was offered, Jan 1st 2009 to may 1st 2010 the interest rates did fluctuate. From my research I found the interest rates were at a high of about 5.75% and a low of about 4.75%. During this period I’m not sure how many of the people who purchased homes were waiting for the rates to go down or if they were mainly focused on closing before the tax credit deadline, My guess is the latter. Read more
Foreclosure Baloney
I don’t get this foreclosure moratorium stuff. I don’t understand why the press and politicians are putting so much into it. I can assure you the banks are not foreclosing on anyone current on their homes. Many of these home they are foreclosing on are vacant and some inhabitable. 
A sad fact I heard recently is many homeowners are losing their homes due to medical bills. That should not be.
Making the banks review additional papers, re-file, and delay the inevitable is only getting revenge and that is not healthy. No good comes out of that.
We should be putting pressure on the banks to modify the loans of homeowners who are good, honest, hard working people. Many of these people for whatever reason can’t make payments at the current payment but can and want to make modified payments. I don’t understand the need for a bank to go to the expense and foreclose on a home with a $500,000 loan and a month later sell the home to someone else for $300,000. The original owners would have been capable and extremely happy to make payments probably on $350,000. The banks would have been $50,000 + expenses better, with less property on the market values would be up protecting their equity in all their portfolio.
I have another idea to deal with this foreclosure cancer. Equity Share. Read more
2nd Annual Prudential San Bruno Pumpkin Patch
Prudential San Bruno will be hosting our 2nd annual pumpkin patch this weekend, Saturday October 23rd from 10am-2:00pm. Please join in on the festivities that include face painting, a complimentary pumpkin, a souvenir picture of you and your family taken in the pumpkin patch and goody bags for the children. We will also be serving hot chocolate & donuts from 10am-11:30am (don’t worry parents, we will have coffee for you in case you were wondering) and barbecued hot dogs & refreshments from 11:30am-2:00pm. Costumes aren’t mandatory but are encouraged. We look forward to seeing you and making this year’s pumpkin patch another success.
Prudential California Realty, San Bruno is located at:
180 El Camino Real, San Bruno Ca. 94066
MAP
Nicole Machado
http://www.MVE2DAY.com
What is in the “TRENDS” of California Real Estate?
Success in today’s Real Estate Market depends on people, technology, and a competitive edge! As a successful REALTOR®, I have to keep up with the latest information on the California housing market. At the same time, I also feel it is imperative to share this knowledge with my clients and provide with good information so they can make an informed decision when they are ready to make an investment. Let’s take a look at what’s going on in the real estate market now…
Recently, TRENDS Newsletter (published by the Economics Department of The California Association of REALTORS®) issued an article titled “Good for the Buyers and Good for the Economy” that mentioned a few interesting points:
First, the bad news (for the market but not so for the buyers)… Read more
Daly City Annual Spook Parade
Daly City will be holding its Annual Spook Parade on October 30th from 12:30pm-3:30pm. It will be held at the Serramonte Shopping Center Court.
For more information check out the Daly City website here .
Written By Adam Chinn
Adam@Adamchinn.com
Investing: Bay Area Real Estate Vs. The S&P
I personally have been investing in Bay Area real estate since I moved out here from Brooklyn in 1977. I have 75% of my assets invested in Bay Area Real Estate. Most of my remaining assets are invested in the stock market. I was curious which investment has had the best return on my investment over the last 20 years. Bay Area Real Estate has proven to produce an 8% greater return than the S&P over the last 20 years. Quite honestly I was expecting that number to be greater, but I am grateful, that with all of the ups and downs, I have made the right decision.
Let me quickly explain my numbers. I took a $100,000 investment in the S & P in 1990 and compared that to a $500,000 home purchase using the same $100,000, or the standard 20% down payment also in 1990. I am not a statistician so my numbers are rounded off and are deemed reliable, but certainly not guaranteed. These numbers are based on not selling and leaving it invested in an S&P index fund. Let me say if you paid cash for that same $500,000 home you would be substantially better off with investing in the S&P. Read more
Realtor’s are People, Too!
Recently, my colleague, Rommel, wrote an excellent blog on ethics in our business. There is another side to the story, however, and that is the ethics of the clients.
While answering phones in the office this weekend, I received a call from a man who wanted to see one of our listings in San Francisco. I agreed to meet him at the listing at 11:00 a.m. the next day.
That night, I was involved in a relatively minor car crash and when I awoke the next morning I felt exhausted and unwell….still a little in shock from the accident, I guess. Even though I didn’t feel well, I planned to do my job and attend our scheduled showing, as well as doing my open house later that day. Read more
What is the perfect house warming gift…from your Realtor?
I recently had the opportunity to represent two separate couples, no children, who purchased remodeled homes in the Bay Area. It’s been a pretty continuous trend of mine to represent people who are purchasing homes that require a lot of work. Bay Area homes are old, what can I say. This is not the case this time!
There is no need for Home Depot gift cards. Probably not a Lowe’s gift card either. I don’t want to give a basket with cleaning supplies and candy because they have all of that already! Wine and cheese, maybe? Gift certificate to a fancy restaraunt, maybe? I’m just not sure! I’m looking for suggestions! Thank you!
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