Kathy Wall

Rent Control – Out of Control
December 31, 2008 · · 3 Comments

I have an elderly client who purchased a home in San Francisco’s Sunset District many years ago.   A few years after the purchase, he and his wife decided to move to Marin and rented the house out to a “friend.”  

It’s now about 30 years later and my client desperately needs to sell the home so that he can keep up with ongoing medical bills.   You see, his wife had a very bad stroke while on an airplane about 8 years ago and, a year later, ended up with kidney failure.   She’s been in a wheelchair and on dialysis ever since.  Sadly, they had no insurance at the time of his wife’s stroke and certainly can’t get any now, so he’s been borrowing on the San Francisco house in order to keep up with her numerous and never ending expenses.   Now, the payments are ballooning up to a point that he can no longer afford to pay them. Read more

Karin Cunningham

How to Rock Real Estate Sales in 2009!
December 30, 2008 · · 8 Comments

If you are a full time real estate agent in the Bay Area, you may relate to some of what I am saying. It may not work for all “necks of the wood” but I have some strategies that really work. I know from experience. I had a lousy 2006 and 2007 in real estate sales…the worst ever even! Then 2008 came along and to my surprise, it started AND ended with a BANG!    Read more

Lee Ginsburg

Learning to Budget! Kudos To The Teacher.
December 28, 2008 · · 6 Comments

As many of you are aware my Prudential office in San Bruno, Ca. is the largest single independent Prudential office in the country.  We are very progressive and have kiosk in several of the regional malls in the area.  As I had my shift just before the holidays, a young boy, I’d say about 12 or 13 was looking at some listings.  I let him look for a while and then approached.  He told me he was 30 years old and looking for a rental for his family of 4 with a $60,000 annual income.  I did a double take and he explained he had a home work assignment to balance a family budget including housing.  I helped him find a few rental homes in the area.  The reason for me writing about this, I thought it was a great assignment; Reality, Life.   I think this should be taught in detail to all high school seniors and to all purchasing a home.  I believe saving should be part of a family budget.  The savings could be for a down payment, home maintenance, vacation, rainy day, etc.  Read more

PruCalVoices

Is this Real Estate Year Over Yet?
December 20, 2008 · · 2 Comments

Based on the activity my phone is seeing and on conversations with clients, as well as fellow agents, the answer would be decidedly “NO”.   For many, now is the time to move forward and the holidays are not going to get in the way. 

 Just when many of us in the business thought it was time to ring out a difficult 2008 and ring in an improved 2009, buyers and sellers began to tell us, “Not so fast!”.  In the past week alone I have heard from 3 clients who starting thinking about real estate much earlier in the year and have come to the conclusion that waiting is no longer an option.  Read more

David Wang

Are Home Auctions a Good Deal for Buyers.
December 19, 2008 · · 3 Comments

                

Any type of real estate investment can be profitable.  Like the stock market real estate is about timing.  Auctions have become more prevalent in recent months and many buyers have asked if auctions are better deals than properties listed on MLS.

This very excellent question simplifies three bigger topics.  First are you interested in just the purchase price, without concern of repair or remodeling costs? Next, have you done all the research you need to do with regards to the property, traditional sales have a contingency removal period.  Finally will you be satisfied in focusing on the least desirable properties on the market.       Read more

Roweena Nastor

Refinance, Loan Modification or Short Sale?
December 17, 2008 · · 6 Comments

Refinance, Loan Modification or Short Sale?

This is the biggest homeowner question when I attended a Foreclosure Help Clinic this last weekend.  There’s no magic answer to this…it’s a case by case basis and really depends who the lender is or are when there’s more than one loan.  Each lender is different.

Refinance – when you owe more than today’s fair market value of your property or if your income status has changed for the worst then refinancing may not be an option for you.

Loan Modification – when you want to keep your property because it makes more sense to stay than rent; when your income status has changed for the worst due to illness, job lost or decrease income, death, divorce… Read more

PruCalVoices

Winter is in the air
December 16, 2008 · · 5 Comments

 Winter is in the air.  Last night was particularly cold and my daughter was in a troubled state so I asked her what was wrong.  She told me that she was worried about the homeless man who camps out by the park where she plays ball in the summer…  Wow, that put things in perspective.

 This year has had ups and downs for all of us as every year does.  Try to remember one thing, no matter how good or how bad it gets, it will pass.  Yes sometimes it may feel like you are stuck in molasses believe it or not, it will all work itself out even though it may not seem that way, it does.  When it gets hard like that try taking a deep breath and embrace the change because invited or not, it is coming.  Read more

Dean Rizzi

VA loans experience a revival. Why?
December 15, 2008 · · 6 Comments

There has been a surge in VA pre approvals over the past few months.  The main reason for this increase is the availability of ZERO down financing with the VA and the fact that it comes with no monthly mortgage insurance premiums.   It is virtually the only loan product left that will allow no money down.  Below is some information on VA loans.

Advantages of VA Financing

  • No down payment is required for veterans with full entitlement on real estate purchases up to $729,000.
  • Liberal underwriting criteria.
  • Fully assumable.
  • No prepayment penalties.
  • Fixed rates & adjustable rates available.
  • All funds used may be gifted from a relative.  

Read more