The Vote is In – The House is Listed
Wow! What great thoughts on my last blog http://www.pruvoices.com/2009/10/the-shoe-is-on-the-other-foot-now/. The voting overwhelmingly said hire the fist agent team I interviewed. That is whom I chose and am very happy. They have been very easy to work with and are very professional. Know anyone whom wants to buy. A 2 Bedroom 2 Bath single family home in a real nice adult community for less than a studio here in the San Bruno or South San Francisco. The bus stops in front of the complex and it is just an hour bus ride to midtown Manhattan. My wife asked me “are you sure you want to sell it?” Here is a link to the “Visual Tour” http://www.visualtour.com/applets/flashviewer2/viewer.asp?t=2029575&sk=30.
Some of the great feedback I received was: speak with the HOA president, speak with the management of the team that was not that experienced, interview CRS members in the area, and Google the agents. Read more
Prudential San Bruno 1st Annual Halloween Pumpkin Patch
Prudential San Bruno will be hosting our first annual Pumpkin Patch this Saturday October 24th from 10am-2:00pm. Our parking lot will be set up like a pumpkin patch and families are welcome to pick one pumpkin of their choice and enjoy goodies such as hot chocolate and cookies. Candy goody bags will be given to children as well as the option to have your face painted or take a picture to take home to remember the event. During the pumpkin patch we will be having our “Coats for Kids” drive so anyone who can spare a coat will be entered into a drawing to win 1 of 20 $50.00 gift cards from Target.
Please join us in making our first annual Pumpkin Patch a success!!
Personal Property Exchanges
Personal Property Exchanges – The Other Side of Section 1031
Many Taxpayers are familiar with §1031 exchanges of real estate. What many people do not know is that section 1031 applies equally to the exchange of personal property. Taxpayers that sell personal property used in a trade or business or held for investment may miss a valuable opportunity to defer the tax gain on the sale if they do not consider like kind exchange treatment for their transaction. Read more
Say NO to Extension of the Federal Tax Credit for First Time Home Buyers!!! (???)
The deadline for the federal tax credit of up to $8000 for first-time home buyers is fast approaching. In order to take advantage of this credit, escrow must be closed by November 30, 2009. If one were to count backwards from this, allowing for a 45 day close of escrow (not uncommon these days), this means that buyers will need to be in contract, at the very latest, by mid-October which means NOW. Read more
The Shoe is on the Other Foot Now
I am responsible for selling my mother’s home. Great I got an easy listing. Well not that quick. She lives in New Jersey. And they do things differently than we here in northern California and I am not licensed in New Jersey. They use lawyers instead of Escrow and Title companies. I pondered how a deal is ever going to close with two lawyers involved. The people I spoke with assured me they do. It seems radon gas is an issue in this part of New Jersey and the seller is responsible for mediating it. My mother lived in an adult community where Open Houses and For Sale signs are not permitted. No wonder as I drove the community I did not see any other homes for sale. I thought there was no inventory and I would receive multiple offers just like here in the San Bruno and South San Francisco. After doing additional research I come to find they have a year’s worth of inventory in the area adult communities. Read more
Up, Down, or Sideways?
We are speaking of mortgage rates, which continue to move down. Bankrate’s latest survey had them averaging their lowest levels in over four months last week, with the 30-year fixed-rate mortgage averaging 5.25% and the 15-year fixed-rate mortgage averaging 4.64%. Given the recent qualms over unemployment, rates would seem likely to move down further.
And they could, but they could also move up. Last week, Dallas Federal Reserve President Richard Fisher said that the winding down of the Fed’s stimulative monetary policies needed to start as soon as the economy shows signs of sustained improvement. “When it comes time to tighten monetary policy, my colleagues and I will move with an alacrity that, if needed, will be equal in speed and intensity to that with which we pursued monetary accommodation,” Fisher said in a speech to the Texas Christian University Business Network of Dallas. Read more
San Bruno Coats For Kids 2009!
“Coats for Kids” in San Bruno is a wonderful community tradition coordinated by San Bruno Garbage and The City of San Bruno every year as the weather starts to get chilly!
You can help someone stay warm this winter by simply donating a clean, gently used coat at one of many drop-off locations in San Bruno!
Click here to see which drop-off location is nearest you!
I love helping at this event every year. It’s a great fun way to get to know the neighbors and give back a little to the community.
The coat giveaway day is Thursday, November 19th 4:00-7:00 pm at the Fireman’s Hall/ San Bruno Chamber of Commerce, 618 San Mateo Ave., San Bruno, Ca. All are welcome. Limit one coat per person. Children must be present to receive coat.
Bank or Mortgage Broker? Who to Use?
Where is the best place to get your home loan….a bank or a mortgage broker? Over the course of my many years in real estate, I have waffled back and forth over this question. Many times my decision on whom to refer would be based on the credit of my buyers. If they were self employed, had a small down payment or not-so-good credit, I would usually suggest that they talk to a mortgage broker. If they had excellent credit scores and a good down payment, I would usually suggest that they might be better off going directly to one of the major banks.
Now, after an incredibly negative experience with one of the largest banks operating here in California, I am leaning much more towards referring all clients to mortgage brokers, because I know that they will do the job and, most importantly, will actually care about my clients. Read more
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