Fannie Mae Short Sale Webinar

January 13, 2009 · David Wang · 7 Comments

Do you know what a short sale is?

Doing a routine search for properties today I came across a very good 20 minute video on what is a short sales put on by Fannie Mae. We have been working with short sales for over a year and have had the explanations given and have had the explanation received many many times already but this is short and good. The slides are good and to the point the Audio is clear and crisp it is short enough for clients to get through without losing focus.

As a client I would believe this more than an agent i just met because we all recognize the name Fannie Mae and with all the government oversight they are receiving they have to watch their P’s and Q’s. Read more

Loan, Gift or Partner to Help Children Buy A Home?

January 9, 2009 · Lee Ginsburg · 6 Comments

As parents we all love our children and only want to help them. In the Bay Area parents almost have to help with a down payment. Do you give your children a gift or a loan? Is it better to be a co-borrower with them? Maybe be partners. If you help one child, you have to help the others. California is a community property state and that creates other issues. It is difficult to bring it up but more than half the marriages wind up in divorce and gifting child money to purchase a home is possibly giving your child’s ex-spouse a very generous gift. Asking a child to sign a promissory note is not always comfortable. In many families Money is a “taboo” subject. I helped my son purchase a home with the idea he was to pay it back when he could. My wife and I always had a good relationship with my son so we did not see any need to have a signed document. Hope that does not come back to bite us. He got engaged a year later and married a short time later. Read more

Are Home Auctions a Good Deal for Buyers.

December 19, 2008 · David Wang · 3 Comments

Any type of real estate investment can be profitable. Like the stock market real estate is about timing. Auctions have become more prevalent in recent months and many buyers have asked if auctions are better deals than properties listed on MLS.

This very excellent question simplifies three bigger topics. First are you interested in just the purchase price, without concern of repair or remodeling costs? Next, have you done all the research you need to do with regards to the property, traditional sales have a contingency removal period. Finally will you be satisfied in focusing on the least desirable properties on the market. Read more

Refinance, Loan Modification or Short Sale?

December 17, 2008 · Roweena Nastor · 6 Comments

Refinance, Loan Modification or Short Sale?

This is the biggest homeowner question when I attended a Foreclosure Help Clinic this last weekend. There’s no magic answer to this…it’s a case by case basis and really depends who the lender is or are when there’s more than one loan. Each lender is different.

Refinance – when you owe more than today’s fair market value of your property or if your income status has changed for the worst then refinancing may not be an option for you.

Loan Modification – when you want to keep your property because it makes more sense to stay than rent; when your income status has changed for the worst due to illness, job lost or decrease income, death, divorce… Read more

Bay Area Real Estate’s – Perfect Storm

December 10, 2008 · Lee Ginsburg · 6 Comments

Perfect Storm = Low Interest Rates, Low Prices, and Lower Inventory.

We have all the ingredients.

If you have been waiting for prices to stabilize you are on the cusp of being late.

Homes in Daly City, San Bruno, San Mateo, San Francisco and South San Francisco are selling. To keep up with the demand Bank of America is falling behind on appraisals and is hiring outside appraisers. I spoke to a termite inspector yesterday. He had 5 inspections scheduled for the day. Need I say we did not speak long. There is a buzz in my office. Conference rooms are filled with buyer’s consultations. Banks dealing with short sales are moving faster and be more aggressively. If you are a first time home buyer or a seasoned investor; jump in, the buying is great. It is a PERFECT STORM for you. Low Prices, Low Interest Rates and Lower Inventory. Getting a Loan in not impossible
http://www.pruvoices.com/2008/12/gettin-a-loan-is-not-impossible/

If you are busy with the holidays maybe meet with me (877-Lee Sells) or your favorite realtor just to get updated on the market so you are ready to take advantage of the Best Buyer’s Market in 30 Years come January.

www.leesellsmore.com
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/11/30/RE8014CT0J.DTL

Getting a Loan is Not Impossible

December 3, 2008 · Lee Ginsburg · 10 Comments

www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/11/30/RE8014CT0J.DTL .

I had some good friends over for Thanksgiving. Pretty early in the evening the question came up; “Lee how is the Real Estate Market?” “People can’t get loans? Huh”, he stated. This occurs often. Everyday it is mentioned the “Credit Crunch” we have to loosen up credit. I hope everyone reads “You Can Qualify For a Mortgage, It’s Just Tougher” by Marni Leff Kottle of the S.F. Chronicle, Read more

Where in the World is Brisbane?

November 30, 2008 · Kathy Wall · 6 Comments

Known as the “City of the Stars”, Brisbane is one of the Bay Area’s best kept secrets. It is a small, close knit community with a population of just under 4,000 people. It offers not only the tranquility of country living, but also offers lots of sunshine and moderate temperatures throughout the year. And, best of all, you can be in the heart of downtown San Francisco within 10 minutes and it’s only about 8 minutes to the airport. There is a free shuttle to Bart as well as a Park & Ride lot for those who want to take the bus or train.

To my mind, Brisbane offers the best of urban living in a country setting. Nestled on the side of San Bruno Mountain, it is surrounded by trees. There are many hiking trails and even hidden staircases throughout the town leading through the canyons up to the mountain. It is a walking town where most daily activities can be accomplished on foot. Read more

What is Staging?

November 24, 2008 · Francis G. Bautista · 7 Comments

Staging is when a home is furnished and decorated before it is put on the market for sale. A staged home that is well done will highlight each room, but not crowd it. The following are several questions that I will attempt to address, like: How much does it cost? How long will it be furnished for? Who pays for it? Will it yield the seller more money at the end of the sale?

Staging a home can cost any where from several hundred dollars to thousands depending on size of home, services provided and the specifics of each contract. The details of the services you expect from your stager must be outlined in the contract before you sign the dotted line. Staging companies will normally have a minimum time period (days/weeks) that a potential client should fully understand. The cost really depends on exactly how many rooms they (stager) are furnishing and for how long. The contract should stipulate several important items like exactly what time and date the furniture will be installed and removed, what would it cost if you wanted to extend or adjust the time period of your contract?, and who is responsible for the furniture while it sits in your home? It is also important to ask, when does the staging company expect to get paid? Read more