Lee Ginsburg

What shall it be; Loan Modification? Short Sale? Foreclosure?
June 16, 2009 · Lee Ginsburg · 4 Comments

You are among the millions underwater and over stressed. What shall you do.

Your credit will be most negatively affected with a Foreclosure, then a short sale. As long as you stay current on your loan, loan modification should not affect your credit.  Your credit score weather it is right or wrong is used by potential employers before hiring, landlords before renting, insurance companies before granting insurance and etc.  Depending on your individual situation maybe credit is not important. 

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My client’s father nearing retirement age could live in his son’s rental unit and will not be looking for another job said he might pass away before his home in Las Vegas is worth as much as as his loan.  He opted for foreclosure.   Read more

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Lee Ginsburg

Memorial Day 2009
June 6, 2009 · Lee Ginsburg · 5 Comments

Agents from Prudential California Realty in San Bruno showered the South San Francisco and San Bruno areas with American Flags on the Memorial Day Weekend. Memorial Day, originally called Decoration Day, is a day of remembrance for those who have died in our nation’s service. Memorial Day was officially proclaimed in May 1868 by General John Logan, national commander of the Grand Army of the Republic. The Prudential agents say besides remembering those that gave their lives for us putting out the flags beautifies the neighborhood. After walking up one side and down the other side of the street putting flags in the front yards of all the homes we turn around and see the flags waving in the wind. “What a great sight”, they all exclaim. The wonderful fulfilling feeling surely outweighs the sore backs from bending down and the sore legs from walking up and down the hills. Over 5000 flags were distributed over this past Memorial Day Weekend. This is the second consecutive year the San Bruno office of Prudential has done this for their neighbors. Next year they are aiming for 10,000 homes.

 www.leesellsmore.com

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Lee Ginsburg

Old School Pricing Is Out and Price It Right Is In
May 26, 2009 · Lee Ginsburg · 6 Comments

 Many sellers are determined to set their listing price higher than they are willing to accept so they have room to negotiate. With the New Millennium buyers they unfortunately will not get any offers. Today’s buyers are more educated than any others. The internet gives the buyers the opportunity to research all public records. They know the price of all the homes in the area that sold recently and are on the market. They know the trends, the cost per square foot; they know what the seller paid for the home and how much they owe and sometimes the improvements the owner has completed. If a home is over-priced the “New” buyer is almost offended that someone would expect them to purchase it at the “Over Valued List Price” so they don’t even make an offer. Many don’t even waste their time to view the home. That is the old school pricing method. My parents would have done that. Back then information was not so accessible. Read more

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Lee Ginsburg

“You’re The Best”
April 14, 2009 · Lee Ginsburg · 5 Comments

That is a comment I received recently.  Can you guess from whom?  After 30 years of marriage my wife does not tell me that anymore.  My mom; maybe; but she didn’t.  This comment came from an agent I was in contract with.  I removed contingencies on time.  Wow!!  I lived up to my legal obligation and she took the time to comment “You’re The Best”.  It should not be that way.  We as Real Estate professionals should live up to our legal obligations and we should treat each other and our clients with more respect.  We should all live up to our legal obligations or request an extension in a timely manner.  This should be the norm not an oddity.  Read more

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Lee Ginsburg

Housing Stimulus – An Open Letter to the Politicians
February 10, 2009 · Lee Ginsburg · 6 Comments

To Congress Woman Jackie Spier, Senator Diane Feinstein, and Senator Boxer

 

 I am a local realtor specializing in San Mateo and San Francisco Counties.   I do not think the $15,000 Home Buyer Tax Credit in the Economic Stimulus Package is making best use of Tax Payers money.  Read more

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Lee Ginsburg

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

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Lee Ginsburg

Learning to Budget! Kudos To The Teacher.
December 28, 2008 · Lee Ginsburg · 6 Comments

As many of you are aware my Prudential office in San Bruno, Ca. is the largest single independent Prudential office in the country.  We are very progressive and have kiosk in several of the regional malls in the area.  As I had my shift just before the holidays, a young boy, I’d say about 12 or 13 was looking at some listings.  I let him look for a while and then approached.  He told me he was 30 years old and looking for a rental for his family of 4 with a $60,000 annual income.  I did a double take and he explained he had a home work assignment to balance a family budget including housing.  I helped him find a few rental homes in the area.  The reason for me writing about this, I thought it was a great assignment; Reality, Life.   I think this should be taught in detail to all high school seniors and to all purchasing a home.  I believe saving should be part of a family budget.  The savings could be for a down payment, home maintenance, vacation, rainy day, etc.  Read more

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Lee Ginsburg

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

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