Doing the Right Thing…
As most of our readers know, our Prudential office has kiosks at Serramonte and Tanforan Malls. Many of us agents do regular shifts at the kiosk each month in the hope that we will meet buyers and sellers.
Recently I was covering the night shift, which goes from 6:00 p.m. – 9:00 p.m. It was very quiet that night, but at one point, a very young man stopped by the booth and said he was thinking about selling a house he owns in South San Francisco. I would, normally, be very excited by this (leaping up and down with glee, actually!) Unfortunately, the more we talked, the more I realized that he shouldn’t sell this house.
It seems that he inherited it from his Grandmother and owns it free and clear. He’s still going to college and living in the house. And, while he isn’t thinking about it now, someday he’ll probably have a family and want a house. If he sells it now, the money will be gone and he will be back to struggling like everyone else to afford a home. Read more
Your words say “Yes” but your actions…not so much!
In any sales position, a person’s living depends a great deal on their ability to figure out who is ready, willing and able to buy and who isn’t. In addition to understanding real estate, a Realtor® has to be able to analyze how serious a potential client is and then determine the amount of energy appropriate for that client. We’ve all had buyers who insist buying is something they really want, when every other signal the buyer is sending screams “Not in this life time!”. If you feel as a buyer you are not getting the attention you deserve, it could be the realtor, or it could be time for a little self reflection. Read more
Buyer’s Market?
Buyer’s Market? You bet it is. I will be speaking about the low end of each market area. On the Peninsula and San Francisco we talk about Single Family homes priced under $700,000. In the East Bay it is below $400,000. Buyer’s Market yes but not in the traditional way. Today’s buyer cannot expect to purchase a home for 20% off the list price, but they can expect to purchase a home 30-60% off of 2004 prices. Today’s buyer cannot expect the seller to take care of all necessary repairs, but the buyer can expect to receive an $8000 Federal Tax Credit and an extra $10,000 State Tax Credit if they are purchasing a brand new home. Today’s first time buyer cannot expect to be the only offer, but they can expect to receive the lowest interest rates in 40 years. I think it is just in a different way.
The Real Estate Market in San Bruno, South San Francisco, Daly City, San Mateo is hot just like the weather. Prices are based on supply and demand. Demand is strong as all smart people want to take advantage of the buyers market. By the way the $8000 Federal Tax Credit terminates Nov. 30 of this year. Read more
Money to Spare
All that talk about TARP recipients withholding their bailout funds appears to be just that – talk. Lending among the top 21 recipients of bailout funds through the Capital Purchase Program within the Treasury Department’s Troubled Asset Relief Program posted growth in May, with mortgage originations rising by 7% over April’s figures.
Furthermore, there is more money available to lend to more people. A few weeks ago we mentioned Fannie Mae’s and Freddie Mac’s home affordable refinance program. It’s worth plugging again. The HARP affects millions of homeowners currently in Fannie Mae or Freddie Mac loans and permits first-mortgage loan amounts up to 125% of the home’s current appraised value, with and without a second mortgage already attached. In addition, closing costs and as many as two payments can be rolled into the loan and up to $2,000 can be taken out of the mortgage. Read more
Can I really buy a house at the San Bruno Farmer’s Market?
Karin Cunningham-"Your San Bruno real estate specialist at your service!"
Lee Ginsburg-"San Bruno residential and investment specialist!"
Lee Ginsburg and I worked a booth at the San Bruno Farmer’s Market last Sunday and had such a blast! We are always trying to think of ways to promote our buyers and sellers and when we heard that the San Bruno Chamber of Commerce was offering booths to promote businesses, we thought it was a great idea for us! Since our office, Prudential California Realty, is in San Bruno, I live in San Bruno, I do a good portion of my business in San Bruno, not to mention my kids go to school and play sports here, I knew a good amount of people that walked by! It was a really great experience!
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How much higher do I offer?
About one & a half year ago, often I was asked “How much lower can I offer?” It seems like those days are gone. Last week I wrote 3 offers for 3 of my clients. And yes, you guessed right, I was asked every single time, “how much higher do I offer?” Real Estate market has clearly changed, I’d say, since 2 months ago. Many properties receive multiple offers after only a short number of days on the market. Most offers are over the asking price. One of my clients offered $530,000 on property listed for $499,000, and his turned out to be one of the 14 rejected offers. From my experience and what I hear from my colleagues, offers may need to be over 10% of the list price to be considered a strong offer. What has been your experience recently?
San Bruno 4th of July Dale Wilson All Star Tournement 2009
Bruno All Stars 4th of July 2009The San Bruno Dale Wilson 4th of July Memorial Tournement was an awesome event! The 7-8 year old “Bruno” team came from behind in two of their games and won the championship title undefeated! San Bruno has always had a passion for Pee Wee leagues and All Stars. It’s a great American feeling in San Bruno when you mix BBQ, legal “safe and sane” fireworks and lots of baseball games at San Bruno Park!
For more info about Pee Wee baseball or the Dale Wilson 4th of July Memorial Tournement visit the website at: http://www.sanbrunopeeweebaseball.org/
For more about me, please visit my website: www.KarinCunningham.com
It’s not what they offer, it’s what you walk away with that counts!
When it comes to buying or selling a property, the conventional wisdom is that it’s all about the offer price and that certainly is a big part of the picture. However, a seller really needs to think about what they will walk away with, or rather, what they will NET; after all selling expenses are paid out. As a seller you have to make decisions that in the long run may end up costing you money. Read more
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