Here is a selection of my recent posts:
Lee Ginsburg:
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
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
So many home owners in San Bruno, South San Francisco, Daly City, San Mateo and all over the country owe more than their home is worth (under water). Some have tried to modify their loan, short sale, refinance and have run into a frustrating brick wall.
Well here is a new alternative. FHA has a new loan that will allow refinancing for homes under water. They do have very specific requirement but it is worth a shot. Please read the following article from the Sunday September 5, 2010 S.F. Chronicle written by Kathleen Pender in her Net worth column. Please do not hesitate to contact me for FHA approved lenders. lee@leesellsmore.com or 877-Lee-Sells
Read more
A letter from a friend…
Dear Everyone,
One or two of you may not even know about the big gas main explosion and fire, but I didn’t want to miss anybody. Got my home back Sunday as did all of the lucky ones in our small San Bruno neighborhood after a few days of uncertainty. My place got no more than a small touch of smoke damage although the refrigerator was a powerful reminder that the power had been off for four days. I have decided to continue to pay my taxes (an attempt at humor) because I was very impressed with not only local and state response but also the national response. Local stores like the Gap (Thanks, Denise!) and Lunardi’s gave out very generous gift cards and of course PG&E wrote out $1000 checks on the spot. On the sad side the 37 homes that were TOTALLY destroyed was a very hard sight to see.
Many thanks to all of you for your concerns and support.
Emile Hons
You know we have seen other natural disasters similar to the San Bruno Explosion.
When we watch it on TV and it happens hundreds or thousands of miles away it a tragedy, it is terrible.
When it happens around the corner from you and it is heartbreaking.
When it happens to you, I doubt there are words to explain those your thoughts.
When you see the outpouring of volunteers, donations, and support it is heartwarming.
It makes me proud to say that I have lived and worked in San Bruno for 35 years ever since I moved from the East Coast.
Next time someone asks me where I work, I am going to say Loud and Clear;
Prudential California Realty in SAN BRUNO, “The City of Care and Compassion”!
Want to read more on the Care and Compassion of San Bruno http://www.contracostatimes.com/bay-area-news/ci_16045332?nclick_check=1
http://www.sfexaminer.com/local/Donations-rolling-in-to-San-Bruno-102643424.html
Lets give credit where credit is due. The Police Department, The Fire Department, Mayor Jim Ruane, City Manager Connie Jackson, City Council People, neighboring Cities, Millbrae, Burlingame, South San Francisco, Daly City and others worked so hard and professionally. Within hours an evacuation center was set up and within 12 hours many state and federal agencies, Red Cross, along with insurance companies had tables set up to help with the recovery.
Want to know where to Donate -http://http://www.contracostatimes.com/bay-area-news/ci_16045332?nclick_check=1
http://abclocal.go.com/kgo/story?section=news/local/peninsula&id=7660232
Lee Ginsburg
www.leesellsmore.com
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
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.
When thinking about Real Estate contact the Local company that gives back locally.
Click or copy and paste the link to read more. http://www.prurealty.com/ssc/company_information/press_releases/Ed%20Foundation%20Release%20-%20San%20Mateo%20County%20-%202010.pdf
Yes! The baseball Diamond that Universal Studios built in
Dyersville, Iowa is for sale. Please let me know if you have interest. I would love to represent you in the negotiations. Maybe we can arrange to have it moved to San Bruno or South San Francisco.
Follow the link
http://www.telegraph.co.uk/culture/film/film-news/7721998/Field-of-Dreams-for-sale.html
www.leesellsmore.com
