12 Hidden Costs of Homeownership

July 29, 2010 · Rommel Yema · 3 Comments

Hi everybody! I know, it’s been awhile..but here’s an awesome article I found earlier this year that would benefit first-time home buyers especially!

-via Luke Mullins, USNews.com (April 8, 2010)

As the selling season gets underway, many Americans will be looking to take advantage of the lower real estate prices, attractive mortgage rates, and federal tax credit by purchasing a home. But remember: Not all of the costs associated with homeownership are reflected in the listed price. Indeed, many buyers — particularly first-time buyers — may be surprised by the amount of cash they’ll need to set aside for housing-related expenses that they hadn’t previously considered. These often-overlooked expenses can include everything from title insurance to lawn mowing. To give would-be home buyers a better sense of the budget they’ll need to buy and maintain a home, U.S. News spoke with a handful of real estate experts and compiled a list of 12 hidden costs of homeownership:

1. Home inspection. Since a home purchase is likely to be the largest financial investment of your life, it’s a good idea to have it professionally inspected beforehand. A home inspector can point out areas of the property that may need repairs. Buyers can use this information as leverage during home-price negotiations or simply to determine whether or not the property is worth purchasing. “It’s not required, but certainly I recommend it to buyers,” says Judy Moore of Re/Max Landmark Realtors in Lexington, Mass. “It is actually very helpful in that [buyers] learn about the property and how to maintain it and it also alerts them to any potential issues that may be coming up in the near future or need to be taken care of.” The cost of a home inspection, which can run several hundred dollars or more, is typically incurred by the buyers before they go to closing, Moore says. Read more

San Bruno Music in the Park 2010

July 26, 2010 · Karin Cunningham · 2 Comments

It’s almost that time again! We San Brunans love the summer music series at San Bruno Park! It’s held every Friday in August. It begins at 6:00 and ends around 8ish!

Every year my kids sell bags of my homemade, gourmet popcorn. It’s freshly popped in a pot, salted, buttered and parmasian “cheesed”! The kids walk around with a metal bucket full of bags, come back to refill, and they run out every time! Usually, kids of all ages play “sand lot” style baseball at the diamond behind the crowds of adults listening to their old 60′s, 70′s and 80′s favorites!

The concerts are FREE and a really great way to meet people or enjoy a group of old friends! Many of us bring bread, cheese, and other snacks. Some have pizza and some bbq at the picnic tables beforehand and then walk over to the concert! Here’s the schedule for this August 2010:

Aug. 8: Double Funk Crunch(Disco and 80′s)

Aug. 13: City Rocks (60′s-80′s SF Rock)

Aug. 20: The Refugees (Tom Petty Tribute Band)

Aug. 27: Just For Kicks (Classic Rock & Roll and R & B)

I love forward to seeing you there! Enjoy the rest of your summer!

www.Facebook.com/SanBrunoLife

To Some Low Interest Rates are Better than the iphone 4

July 21, 2010 · Lee Ginsburg · 2 Comments

Low interest rates also have apps. 30 yr., 40 yr., 15 yr., conforming, adjustable, 1 yr, 5 yr jumbo and more. Oh they are getting the best reception in years.

You may not see the lines out the door but look at the stack of files on the loan agents’ desks. We are in record low territory. Rates have never been this low in the 50 years of record keeping. How low? Below 5% fixed for the next 30 years. 3.75 fixed for the next 15 years. That’s how low. If you are buying you must understand these are not normal times. Take advantage. Jump in. What other industry will fix their price for the next 30 years. Ask the gas station on the corner, if you would commit to buying your gas there for the next 30 years, will they hold today’s price.

Homeowners, no matter when you re-financed last review the situation again with your loan agent. If you do not have one I can recommend some I work with.

A note to both homeowners and home buyers: Read more

Loan Modifications – They Can Be Done! Lots of Patience Required!

July 14, 2010 · Kathy Wall · 3 Comments

I haven’t blogged in a long time, partially because I’ve been super busy with work, but also because I’ve been so wrapped up and worried about a loan modification that I had been trying to get on my house since 2008. Yes… I said 2008!

This has been one of the most frustrating and stressful experiences of my life. As mentioned, I started talking with the bank in late 2008. Around July of 2009, they told me that I had qualified for a certain type of loan modification. They gave me my new payment amount and I started paying that amount. I paid them faithfully every month thereafter. I was concerned, however, because I never received any formal paperwork and, because real estate is my job, I knew something had to be wrong. I called them constantly and they kept telling me there was no problem, everything was “in process.”

I believe it was in January this year that I returned home to find a letter from the bank in my mailbox. The letter indicated that I was in default and that if I didn’t pay them $35,000 by a certain (very near) date, they would start foreclosure proceedings. Needless to say, I freaked out. Read more

Funny Real Estate Jargon

July 12, 2010 · Karin Cunningham · 4 Comments

"Great starter home"

Have you ever looked at a real estate ad and wondered if they were exagerating a little bit? Here are some funny descriptions and translations of some ads that makes one wonder….

Cute- small

Cozy- see cute

Charming-see cute, cozy then throw in “old”

Good starter- fixer upper

Old World Charm- OLD

Period details- OLD

Close to transportation- noisy trains and busses nearby

Low maintnance yard- no grass, no flowers, no trees Read more

Tony’s Auto & Katrina Recovery

July 8, 2010 · Shokoofeh Nowbakht · 3 Comments

5 years ago Hurricane Katrina hit Gulf of Mexico. As a category 5 hurricane, with estimated winds of 175 mph became one of the most destructive storms. August 24-28, 2010 is the 5th Anniversary Build-a-Thon in New Orleans. 100,000s of volunteers have donated their time and money to rebuild New Orleans. New Orleans Area Habitat for Humanity (NOAHH) plans to build 5 homes for 5 families during this 5-day period. Jessica Harders, daughter of Dave Harders of Tony’s Auto, along with 4 friends, are headed to rebuilding the city. Their trip will cost them $700. You can help by taking your car to Tony’s Auto on Sundays from now till August 10, 2010. You’ll get a free smog certificate (usually charged $8) and the total proceeds will go toward this trip.
Tony’s Auto is located at 601 Kains Ave. in San Bruno. (MAP). (650) 588-6719.
See how easily you can help!

Shokoofeh Nowbakht
www.shokoo.com

Prudential Ca. Realty Gives Locally

July 7, 2010 · Lee Ginsburg · Comment here

Prudential California Realty is more than just Real Estate Company. We in the San Bruno office are a group of very giving and caring local people with lots of knowledge and experience in Real Estate. A portion of each transaction is donated to Shelter Network in San Mateo, each year we adopt a family from San Bruno, South San Francisco or Millbrae for Christmas, one of our agents feeds the homeless monthly, another agent is continuously baking cookies to raise money for Cancer, others walk miles for their causes and we all graciously chip in. It is an honor to work with people who care.

As the premiere real estate company in the area, Prudential Ca. Realty San Bruno realizes the importance of schools. Prudential California Realty recently awarded grants to local teachers from Brisbane, South San Francisco and Daly City. With school fiancés drastically cut this year these grants were greatly appreciated. The grants are awarded to teachers whom made an exceptional contribution to their students last year.

My wife is a teacher and I know that most teachers contribute to their students. Unfortunately we can’t reward all of them. I will say all teachers are appreciated.
This year the following teachers were awarded grants:
Brisbane        Lynn Howe                 Brisbane Elem.
Daly City       Jane Chang                Junipera Serra
SSF              Feleciana Stevenson   El Camino High
                   Ray Galela                 El Camino High
                   Meg Milana                SSF High
                   Joslyn Negherbon       Westborough Mid.
                   Cheri Howard            Westborough Mid.
Congratulations to the winners and Thank You to all teachers.