Brisbane is a hidden gem here on the Peninsula.    It is located on the side of San Bruno Mountain between San Francisco and South San Francisco.     There are only 3,597 residents, which makes it one of the smallest communities in the area.     It is very unlike your typical suburb in that it has a hodgepodge of all types of architecture, from shacks to mansions, with very few ranch style homes.    Many of the homes have great views of the Bay and downtown San Francisco.

The people of the community are almost as diverse as the architecture.     Living in the town are world renowned film makers, rocket scientists, artists and musicians…all living happily amongst all of us regular folks.     Brisbane is known as the “City of the Stars” because for over 65 years the residents have put up stars on their homes during the holiday season and even have a “Festival of Stars” each year.     

We have great weather, too!    This has been a tough summer for every community, but during normal years, it’s almost always sunny in Brisbane just about all year long.   Even when San Francisco, South San Francisco and Daly City are shrouded in fog, it rolls up to the top of San Bruno Mountain and just sits there, leaving Brisbane bathed in sunshine.

Brisbane offers many amenities, as well.    There are beautiful parks, a terrific park-like Marina, dog and skate parks, library and tons of trails for hiking and biking.     About the only thing we don’t have are gas stations or chain stores.   The only chain that has managed to make it’s way into Brisbane is Subway and it’s been there for years.

We have a good little general store, with an excellent meat market and a few pretty darned good restaurants.   In fact, I just learned today that one of our restaurants, Mangiare, is going to be where KNBR Radio airs all 49′er post games shows this year, so it will be a great place to watch the game and have some terrific food.

Most Realtors know that Brisbane exists, but when they do their MLS searches for properties they always forget about it and I think that you, their clients, are missing out.     It certainly isn’t for everyone, but every home buyer should take at least one drive into the town to look at a few properties.    It may just turn out to be the place for you.   Schools are walking distance from most homes, friendly people and great weather…what more could you ask for?

Let your Realtor know that you want to check out Brisbane!

Kathy Wall
www.michaelandkathy.com
(415) 608-4168

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.      

After my initial panic, I went back to making my constant calls to them, re-submitted all of my paperwork and kept waiting to come home and find a foreclosure notice on my door or to find my house on the list of defaults that we get every week.   It was a terrible time.    

Luckily, in my case, after an incredible amount of phone calls I finally got an actual loan modification (notarized paperwork and all), dropping my mortgage interest rate to 2% for the first year, 3% the following year, capping out at 5% in 5 years.  

What troubles me is that I am a professional and knew who to call and that I had to be tenacious, yet I was at the end of my rope.   I can’t imagine how difficult it must be for those who are not in this business and don’t have the skills or tenacity to keep fighting.    Heck, or those who have regular jobs where they can’t sit on hold for 30 minutes every day waiting to talk to someone who actually knows nothing, repeating your story over and over for months (in my case a year and a half!)   

All I can say is, that if anyone out there is trying to get a modification….don’t give up.    Call them regularly, take notes from each call that you make and, to use my favorite quote from Winston Churchill…”Never, never, never give up.”

Kathy Wall
(415) 608-4168

I realize that a lot of this is happening because so many of our clients (even the very loyal ones,) are spending a great deal of time on the websites of our cut rate competitors, but I need to find a solution.    

I try to counter their requests with the very valid logic that you get what you pay for in this world, and that my many years of experience, negotiating skills and industry knowledge are well worth paying full price, but this is less and less successful.    Nor, do they care that I need to share my commission with the company.    

As one client said to me:   I’m looking in a very limited area, I research the properties myself, mostly go to see them myself, so why should I pay you a $1,000 an hour to write a contract?  (Please keep in mind, that I would very happily do the research and show him the houses, he simply prefers to do it his way.)   

When using the logic that they are not paying the commission, that the seller is, they, of course, point out that the commission is included in the price they are paying. 

This has become quite a challenging problem, because I need to sell houses.   Other than handling a few rentals here and there, this is my only source of income.    When I said no to one of them, he went to another broker and instead of getting some money, I ended up with nothing. 

What do you think fellow Realtors?   Customers…let’s here your thoughts, as well.

Kathy Wall
(415) 608-4168
www.michaelandkathy.com

We hear stories all the time about people who bought second, third and fourth homes using those crazy interest only, “pay what you want, when you want to” loans.    They all thought that they were going to be land barons, making big bucks on the rentals or buying the property, fixing it up and flipping it for a huge profit. 

Now, the homes that they bought in Fresno, Sacramento, Lodi….heck, all over the country… are no longer worth what they paid for them and, because of the economy, they can no longer require the high rents they were getting in the beginning.    In many cases, the owners can still afford to make the payments, but now don’t want to because they feel the value is not there, so they simply walk away from the properties.      That seems wrong to me.  

Another example…a year or two ago, there was a construction project started for a new house in my town.   Although the owner runs a hugely successful business, when he had a problem with the building, he simply stopped making payments, so the bank took the property back.     Since he “walked away” the property has been boarded up and there is a big, muddy hole in front of it, making the entire street look horrible.    

What really troubles me about this case, is that I recently heard that this same man has just purchased a $900,000 home right up the street.   How is that even possible?    And, how can he sleep at night knowing that he left a big mess for the entire neighborhood to stare at, as well as destroying the property values of the homes on either side?

And, lastly, I heard of a case the other day where the owner has a great job and plenty of money.   She can easily afford to make her payments, but wants to leave the country to join family members elsewhere and, if she sells, won’t get the full amount back that she owes.   Even though she will only be short on the loan approx. $10,000, and even though she could easily write a check for that amount, she has decided to simply walk away and let the house be foreclosed upon. 

All of these stories leave me wondering….Whatever happened to the honorable Americans we used to be?    In the old days, if a person borrowed money, they would do whatever humanly possible they could to repay it.    In many cases, all it would take would be a handshake and they were commited.     Now, it is as though people no longer care about anyone but themselves…forget about the neighborhoods, forget about the country’s economy…I’m in this for me, appears to be the attitude. 

Yes, I know that the banks are big, uncaring institutions, but a debt is a debt.   I believe in that old saying “my word is my bond.”    Obviously, as I mentioned earlier in this article, there are many people who, unknowingly, got caught up in this mess.   I don’t blame them at all and completely understand their need to walk away from their homes.   But, I feel nothing but anger for those who took advantage of the system and are now a big part of destroying our economy.    

What kind of example are we setting for our children?

Photo courtesy of Lee Panza

On Sunday, December 6th @ 5:30 p.m. there will be a wonderful event happening in the adorable little town of Brisbane, CA.   It is called “Festival of the Stars”,  and is called that because Brisbane is famous for the lit up stars that most citizens have on their homes.    Although many people start lighting them at the very beginning of December, this evening is the official night when everyone turns them on.   It is quite a sight and can be seen all the way from Highway 101.   The stars, both  large and small, are provided free to anyone who lives in town…all they need to do is add the lights.

To celebrate, every year the citizens, young and old,  gather at the top of Visitacion & Klamath Streets (Madhouse Coffee).    Everyone is given song sheets and then we march down the hill singing Christmas carols (I will be your fearless song leader.) 

 We end up at the Community Park where the holiday tree is lit and a few local groups do brief performances.  Then comes the big event – Santa arrives on a firetruck!    Coffee, cocoa and cookies are provided at no charge.   

For those of you who are not familiar with this little town, it is located between San Francisco and South San Francisco and is perched on the side of San Bruno Mountain.   You should take Highway 101 to get there.  

It’s a wonderful evening and everyone is welcome!     I hope to see you there!

Kathy Wall
(415) 608-4168
www.michaelandkathy.com

This particular condo wasn’t going to work for them, so I told them that I would send them information on other nicer complexes that I thought they might like.   On Friday, I did just that.   In response, I received the following email:

Dear Kathy,

Thank you for showing us the Mission Road place on Wednesday.   I need to let you know that since we spoke, I spoke with my Mother in law who is a realtor, and she is going to represent my parents.  

I really appreciate the time you took on our behalf and I apologize for any inconvenience we may have caused you.

Peace and Grace to you.

Sincerely,

(I’ll leave her name out)

Needless to say,  I’m really irritated.  I am contemplating sending her the following letter and want my reader’s opinions as to whether it is a waste of time.     

Dear ________,

While I do appreciate your responding to my email, I feel it is important for you to realize that life for Realtors is very difficult these days and we need all of the business we can get.   Consequently, instead of doing the shopping that I needed to do for my family, I completely changed my schedule to spend time with your family.   And, clearly, prior to our meeting you already knew that your Mother in law was a Realtor and that you would be using her. 

I only ask that, in the future, you take into consideration that Realtors are people, too.  I got very excited at the prospect of working with you and your family.  I went out of my way to accommodate you and it really stung to find out I was used.  I hope that you will think long and hard before doing that to anyone again. 

Sincerely,

Kathy Wall

What do you think….Send or don’t send?

…The income limits have been raised so that now more people will qualify for the credit.   Previously, if you were a single person, you could only earn up to $75,000 and, as a married couple you could only earn $150,000.    Now, single people will still qualify if they make up to $125,000 and married couples will be able to receive it if they make up to $225,000.     And, those earning over these amounts may still qualify a credit, but for a lesser amount.         

…Previously, the credit was only available to first time home buyers, which is anyone who hasn’t purchased or owned a home in California for the last 3 years.    Now, move up buyers can qualify for a credit, too!    If you are selling and/or have sold your home and have used it as your principal residence for 5 of the last 8 years, you will be able to purchase your  new home and qualify for a $6,500 tax credit.   It’s not quite as good as the first time buyer’s $8,000, but it will still be a big help.

I believe this is great news for everyone…Home sellers will have a better chance of getting their  homes sold and home buyers will get a little extra help to make the home more affordable.   This credit, plus the incredibly low interest rates, should really give the economy a further spurt of growth.  

Kathy Wall   (415) 608-4168

On Saturday, October 24th, a group of agents from our office held a community event that turned out absolutely perfectly.    We held a combination Pumpkin Patch and Coats for Kids event.     It was hugely successful.

We provided cookies and hot chocolate, as well as goodie bags for the kids and, of course, pumpkins.   We, also,  took photos of each and everyone that wanted one and made them a special photo card right on the spot.   We even had face painting….All for free!

Many, many people brought coats for the kids, too, which was very exciting.    (By the way, for those who weren’t able to attend, please know that we will be accepting coats through the end of October.   If you bring a coat or sweater to our office, be sure to fill out a card so that you can enter the drawing we will be having to thank people for donating.    Our office is located at 180 El Camino Real, San Bruno.)

For me, the very best part about it was that it was such a diverse event.    People of  just about every age and nationality attended.  It was a great deal of fun for everyone, including those of us working at the event.     Business is all fine and dandy, but doing things for others is really what makes life worthwhile.   I am so happy that I work for a company that genuinely cares about the community.

Above, are photos of the terrific agents who participated in this wonderful event!

Kathy Wall – October 26, 2009