Jean Joh

Things to Consider When Buying a Flipped Property
February 14, 2011 · · 2 Comments

Lately, I’ve been seeing an increasing number of homes that have been purchased by investors, fixed up a bit and then put on the market, i.e. the “flip.”  This is to be expected with the onslaught of foreclosures that has taken place over the last few years, coupled with insightful investors (many of whom are real estate agents) who’ve seen golden opportunities in real estate and have taken advantage of the low interest rates and low home prices.  I’ve actually had two clients purchase such homes in the past six months, and have shown many more.  The most attractive part about buying these homes is that the investors usually have done some basic work to make them move-in ready.  Fresh paint, fresh carpet, new fixtures, even new landscaping – all of these help to make the home more attractive and appealing.  But here are a few things to keep in mind:

1)      Even though sellers are still required to fill out disclosure forms, the information will often be limited b/c the sellers have never lived in the property.  In this sense, it’s almost like purchasing a bank-owned property.

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Dean Rizzi

A Look at the Past and a Look at the Future
December 30, 2009 · · 1 Comment

This time last year we predicted that 2009 would end a lot better than it began. We were right, though it wasn’t a great accomplishment to be right considering how low the housing market, stock market, and overall economy had sunk during the latter half of 2008. As we’ve stated repeatedly over the past year, a low base and a dour outlook provide an excellent buying opportunity, so we weren’t surprised when buyers stepped forward to exploit the opportunities.

Looking ahead to 2010, we see continued improvement in home sales and home prices. In fact, we wouldn’t be surprised if the market turns to a sellers’ market from a buyers’ market by year’s end. We are almost certain that will be the case if we see a two to three percentage point drop in the unemployment rate. Low mortgage rates and income tax credits are contributing factors in stabilizing the market, to be sure, but no factor is more important than employment in not only maintaining stability but stimulating activity.     Read more

Shokoofeh Nowbakht

Evaluation of Rental Property
June 2, 2009 · · 7 Comments

for-rentHow do you evaluate a rental property?
There are many formulas to calculate different income ratios, various expenses and taxes you incur as a landlord. The first thing you should pay close attention to is the existing leases. Find out the current rents, the remaining lease terms and the annual increase in rents for every unit. It is very important to determine how these rents compare to the rents for similar properties in the area?    Read more

Shokoofeh Nowbakht

20 homes under $500,000 in San Bruno
July 16, 2008 · · Comment here

First time home buyers and investors, what are you waiting for? I just checked the multiple listings and found 20 homes in San Bruno for sale, listed under $500,000. WOW!!! These include regular sales, shortsales and bank owned.

This is the time to buy real estate!

Shokoofeh Nowbakht, Realtor