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Here is a selection of my recent posts:

“HOW IS THE MARKET” AND THE YEAR THAT PAST

This past year, the most common question I was asked was, “How is the market?”

It was a year that I will never forget. At Prudential California Realty, San Bruno, we have over 100 agents. Some with many years of experience and some new to the business, this was our environment last year:

-We had the lowest drop in interest rates, yet it was difficult to obtain a loan.

-Buyers who chose to participate in a short sale waited months for the banks to approve the sale; meanwhile the banks delay in response created a larger debt.

-We had “short sale negotiators” with astronomical fees, so our agents learned to become “short sale negotiators” and they did not charge their clients.

- In some cases, homeowners stop paying their home mortgages so the bank would consider them as a “short sale” candidate.          Read more

An acquaintance of mine came home from work to see a “stop work notice” posted on her front door.  Two years ago, she submitted plans to build a second story addition and remodel her existing kitchen and bathrooms. She went thru the planning commission process and the application was approved. Due to the economy situation, it was decided not to go ahead with the addition.

Recently, they decided to go ahead with just the kitchen and bathroom remodel. Apparently, a neighbor called the city which resulted with a stop work notice even though the previous plans were approved, the application expires a year from the approval date. 

 I attended the meeting with the code enforcement officer, who met the homeowner, and I was pleased on how he interacted with them.  It is a very intimating to have a stop notice on your door, and a city official in your home scrutinizing all the work that is in process.  Even though they were in violation, the officer went thru the house, and told them what they needed to do to get back on track.    Read more

Recently, it seems that all the buyers have come out of the wood work….
We have been inundated with large groups at our open houses and receiving large amount of “sign calls” and inquires on our websites…
But the one thing that has not changed is fear…Depending on where the property is and the price range that it is in, there is a different strategy on how to make an offer. I think the public understands that the interest rates are great, and  inventory has lessened, and  buyers are hearing about multiple offers; but there is something that is preventing them to make a move. My advise: Work with your agent…let them help you understand… ask a lot of questions.

Just this week, I have encountered buyers who I met a few weeks ago, they saw this home in their price range, and have their financing in order, but they needed time to “think about it”.  When they came back to reconsider the home, it was gone (in escrow with multiple offers).  Had they written a couple of weeks ago it could have been theirs.

 Don’t lose your opportunity. There are several ways to protect yourself from competition and allow you to participate in obtaining home with your price and terms.

Last evening I attended a Millbrae NOW Community workshop.  The meeting was open to the public and hosted by our city staff.   The purpose of the workshop was to inform the community of its economic status, and what methods can be used to raise revenue for Millbrae’s’ vital services.

 After hearing all the presentations, the conclusion was that the city does not have enough revenue to maintain its current services and is not building a surplus in our infrastructure which could be a huge liability if there was an emergency. 

They were able to illustrate what cuts have been made by providing data on the sources of revenues and how it is distributed. It was  demonstrated how the city was able to cut costs by sharing services, staff, and program budgets, such as fire and police with other cities, without impacting public safety.  Read more

Since I have lived in Millbrae, my Saturday ritual consisted of a walk downtown to the farmers market, a trip to Starbucks and end up at Mervyn’s.  When it was announced that Mervyn’s was closing, my initial response was “how sad” then my second thought was how long the building was going to remain empty.  Read more

If you are in the process of selecting a real estate agent to represent you in the sale of your home, or in the purchase of your home, you owe it to yourself to be very selective on who you choose to represent you. 

 A good agent, who is knowledgeable, skilled and has a good team behind them, is a Read more