Top 5 Reasons to Buy a House in the Bay Area in 2012
1. Prices are down!
2. Interest rates are a low 4% and below. With interest rates low and prices down, people who have had the same income for the past 2 years can qualify for home loans easier.
3. FHA loans requires only 3.5% down.
4. The Bay Area is the leading real estate market next to New York. There is always a demand for housing here whether it’s San Francisco, San Mateo County, Marin, or East Bay. If you buy in 2012 and hold on to your property you may prosper in the years to come!
5. It’s a great rental market! If your desire has always been to invest, you won’t have trouble finding renters in 2012.
Karin Cunningham
www.KarinCunningham.com
www.FaceBook.com/SanBrunoLife
650-438-3504
What If My Offer Is Rejected?
Oddly enough, I get asked this question most often before clients write offers. This usually goes along with the fear of commitment or loss. Either way, clients are usually inquisitive of this before even writing an offer or deciding on what terms to offer.
If your inquiring about rejection before you write your offer, you should ask yourself how that would make you feel? Is this property your dream home, starter home, vacation home, investment? I think depending on where your interest lies with investing in that particular property will then come the answer to your question, “what next”?
If the outcome is not what you predicted or wanted then maybe you should ask your realtor why; what was the seller looking for in an offer? How can I learn from this to increase my chances of acquiring my next property of choice? Of course the best advice comes from those with their hands in the market every day so to speak! So….. don’t be afraid to ask your favorite realtor here at Prudential in San Bruno, ” WHAT SHOULD I DO?”
Lets get your best offer in first, then and only if we have to, will we deal with rejection TOGETHER:) Otherwise, BEST OF LUCK with your offer!
Bernadette Ramirez
Prudential California Realty
I WORK FOR YOU!
You can reach me @ 650-871-3639
Is Foreclosure a Smart Way to Go?
In today’s world I am regularly asked by folks whether they should just give up, walk away and let their home be taken by foreclosure or try to “hang in there” until they can find another solution.
This is a really difficult question to answer. There are so many factors involved. Ethicially and morally, I believe that you should do everything you possibly can to honor the contracts that you entered into when you purchased the property, even if the property is no longer worth what you paid…as long as you can still afford to make the payments.
However, the incredible stress of trying to hold on when you can’t afford to make the payments can be all consuming and emotionally destructive. When all else fails, sometimes the only possible answer is to walk away. Before doing that, however, you should explore all other possible options, such as: Read more
Winter Is Approaching … Is your Home Ready?
Autumn winds will blow a chilly reminder that winter is fast approaching. Perform the following maintenance tips each fall to protect your property’s value and prevent major repairs.
Roof, Gutters and Downspouts
Rain, ice, and wind can all cause damage to your roof and gutters. Now’s the time to trim back all tree limbs and vegetation away from the roof. You also should remove debris, such as leaves and sticks from your gutters and downspouts. Clogged gutters don’t allow water to properly drain away from the home, which can cause seepage in your ceilings and walls. You can also invest in gutter guards, a screen that prevents debris from entering the gutter and directs the flow of water away from the house and into the ground.
Water Heater
You don’t want to find out that your water heater isn’t operating properly when you need it most. So use this time to perform an annual inspection, which includes having your tank’s pressure and temperature relief valve checked. In addition, remove sediment from the bottom of the tank by draining two gallons of water to improve heat transfer and the efficiency of your heater. Read more
Should I Tell Them What They Want to Hear?
Over the last couple of months I have lost out on three listings….three really good homes in great locations..because I was honest with the potential clients. In each case, the owners had very unrealistic expectations about what they could get for their property, or as sellers are fond of saying what they “needed” to get out of their properties.
I did everything that I could to be upbeat while meeting with all of them, but two of them wanted $1,500,000 for homes that were either in much need of updating or that had been updated in a particular style that would not be appealing to a large number of buyers. Both of those homes were cluttered and had several pets roaming around, which would make them hard to show. The owners said they “sensed a lot of negativity” when I made a few recommendations about things they could do increase the value of their homes.
Anyone who knows me, knows that I am about the least negative person around….I always try to put a positive spin on everything…but it’s my job to try to help owners get the best possible price for their home, so I have to tell them things that would help them or I wouldn’t be doing them justice. Read more
Vacant Homes a Target for Homeless and Criminals
I was scheduled to do an open house at one of my listings in a terrific San Francisco neighborhood today. When I arrived at the property and unlocked the door, the first thing that I saw were 2 men’s socks and a bunch of dirt, along with something that looked like a dirt clot, but later turned out to be a rock.
Since this house has always been immaculate, I knew that something was radically wrong, so instead of entering the house, I first called the owners. When I was unable to reach them, I decided to call the police. Although it turned out that the intruder had already left, I’m so glad that I did call them, because it turns out that they were able to get really good evidence of who had entered.
This home had previously been “staged” and furnished, but the owners had requested that the staging be removed due to cost concerns, so it is now completely vacant. Although we kept the front drapes closed so that people would not notice that it was vacant, someone clearly noticed, broke a downstairs window and spent at least one night in the property, apparently ripping down one of the drapes and using it as a blanket. Read more
Don’t Let Them Buy Your Love…Or Your Listing!
There is a phrase related to home selling that has always struck me as a bit odd, even before I got into the business of real estate. “I chose my Realtor ® because they said they could get me XX amount of dollars” is often the refrain of a home seller. Really? They can tell you precisely what your house is going to go for in the future. If a Realtor tells you that, you ask them why they aren’t in Vegas making themselves rich with that skill.
The practice is called “buying a listing” and it can be an effective way to get business. The problem is, it doesn’t serve the seller. Read more
Investing: Bay Area Real Estate Vs. The S&P
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
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Recent Posts
- What is a reverse mortgage?
- ‘Tis the Season for Tax Breaks
- Top 5 Reasons to Buy a House in the Bay Area in 2012
- After Christmas Sale, – Bay Area Homes up to 60% off
- San Bruno Eye Sore is about to Go
- What If My Offer Is Rejected?
- It’s a Buyers’ Market for Real Estate Investors, too
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