Lee Ginsburg

Do I Need An Agent?
December 4, 2011 · · 2 Comments

I was at a recent home buying workshop and someone asked if she needs an agent.

In the Bay Area the buyer does not pay for the agent to help them find a home, help them negotiate; walk them through the process, etc. The buyer also does not pay the agent for helping them digest the comparable properties, or get inside information concerning the home or the comparables, educate them on the neighborhood, and more. The buyer never pays the agent anything. The seller’s agent pays the buyer’s agent for assisting them in selling the home, but the agent has a fiduciary duty and obligation to their client, the buyer.

So why wouldn’t you want someone to do all the dirty work, to bounce ideas off of, and to pick their brains with no cost to you.
Every transaction is different. The buyer’s agent does all of the above and more depending on each individual situation.

realtor

The most important task the buyer’s agent performs but hardly mentioned, is helping the buyer maintain their emotions. I have seen buyer’s get so excited about a home that they would pay anything for it. Well maybe not anything but more than necessary. A good agent will protect the buyer by making them see reality. On the other hand they might be offended by the seller’s response and might react by cancelling the transaction or respond negatively and blow the deal. An agent is the buffer.

An agent will help the buyer see through the seller’s messy home to see the bones and layout of the home. An agent will keep the buyer focused on the purpose of buying a home, facing reality and prevent them from getting sidetracked. I remember helping a newly married couple with a baby purchase their first home. They liked the well decorated home in a not so good area. They were not familiar with the area. They were prepared to write an offer and I did not want to discourage their enthusiasm. I suggested on the way home we drive by again. We did and they calmed their emotions and changed their thoughts on their own.       Read more

Lee Ginsburg

2010 Remodeling Cost as Compared to Resale Value
February 15, 2011 · · 2 Comments

Remodeling Magazine annually researches the cost of remodeling with the help of Home Tech Information Systems. They also research the value remodeling adds with the help of the National Association of Realtors. They put this information together by regions. For a complete report please go to http://www.remodeling.hw.net/2010/costvsvalue/national.aspx

Below are the results for the San Francisco region.
A small difference in the size or scope of a project, or in the quality of finishes and accessories you choose, can dramatically affect the cost.

The “value” of a project at resale is always subject to forces that are difficult to predict. Changing how a space is used may meet the immediate needs of the current homeowner, but may be at odds with what prospective buyers are looking for. How the value of a remodeling project is perceived also depends on a variety of factors that traditionally affect home values, including the condition of the rest of the house, the value of similar homes nearby, and the rate at which property values in the surrounding area are fluctuating. Comparable values are particularly difficult to judge in the current economic climate, in which the effect on the value of surrounding homes of foreclosed properties and short sales are part of the equation. The mere presence of a large number of unsold homes, whether new or existing, well-maintained or distressed, can have a constricting effect on surrounding home values.      Read more

Lee Ginsburg

Holiday Shopping for a Home? The next 10 days are Black Fridays In Real Estate!
December 21, 2010 · · 3 Comments

Are you serious about buying a home? Do you want to take advantage of record low interest rates and the lowest home prices in 5 years? If you answered YES to either question: Then do it now!!!

2010 interest rate graph

Why do I say that you might ask? You have much less competition. The people not so serious are fighting the crowds in the malls, (I hope at my son’s store Designers Center at “The Shops at Tanforan”) not at open houses. Sellers that have their homes on the market now are serious (desperate). Who wants people coming through their home during the holidays? Banks are even more motivated to get rid of these homes before the end of the year. The sooner they get them off their books the better. Now that the foreclosure moratorium is basically over they will have plenty more to sell. They want to get rid of these now. Make an offer. They will listen. They might even gift wrap it for you at no extra charge.        Read more

Lee Ginsburg

Is the Giants Victory Similar to Buying a Home?
November 14, 2010 · · 2 Comments

How can the baseball World Series be anywhere related to Home Buying you may ask. Let me explain…

The San Francisco Giants won as a team, and that is the only way to successfully buy a home. You need a team. A great mortgage broker; Tim Lincecum. An excellent Realtor, who is not just a real estate agent (follow this link: http://ow.ly/39GSe); Cody Ross. A hardworking assistant; Edgar Renteria, an experienced inspector; Aubrey Huff, a dependable escrow officer; Busty Posey, and of course a reliable management team; Bruce Bochy.

wilson

Now you see the importance of a team. Without one player you may not get the home. A good Realtor has a good team.

Another correlation to the Giants TEAM Victory is the Team of Low Interest Rates, Low Prices, and Motivated Sellers. That leads to the Victory of Closing on a Home; Brian Wilson.

www.leesellsmore.com

Lee Ginsburg

Is Your Home Under Water? New FHA Refi might help!!!
September 15, 2010 · · 2 Comments

 So many home owners in San Bruno, South San Francisco, Daly City, San Mateo and all over the country owe more than their home is worth (under water).  Some have tried to modify their loan, short sale, refinance and have run into a frustrating brick wall. 

Well here is a new alternative.  FHA has a new loan that will allow refinancing for homes under water.   They do have very specific requirement but it is worth a shot.  Please read the following article from the Sunday September 5, 2010 S.F. Chronicle written by Kathleen Pender in her Net worth column. Please do not hesitate to contact me for FHA approved lenders. lee@leesellsmore.com or 877-Lee-Sells    

  Read more

Lee Ginsburg

To Some Low Interest Rates are Better than the iphone 4
July 21, 2010 · · 2 Comments

Low interest rates also have apps. 30 yr., 40 yr., 15 yr., conforming, adjustable, 1 yr, 5 yr jumbo and more. Oh they are getting the best reception in years.

2010 HSHSite30FRM3yr

You may not see the lines out the door but look at the stack of files on the loan agents’ desks. We are in record low territory. Rates have never been this low in the 50 years of record keeping. How low? Below 5% fixed for the next 30 years. 3.75 fixed for the next 15 years. That’s how low. If you are buying you must understand these are not normal times. Take advantage. Jump in. What other industry will fix their price for the next 30 years. Ask the gas station on the corner, if you would commit to buying your gas there for the next 30 years, will they hold today’s price.

Homeowners, no matter when you re-financed last review the situation again with your loan agent. If you do not have one I can recommend some I work with.

A note to both homeowners and home buyers:      Read more

Lee Ginsburg

Remodeling? Don’t do it to resell!
May 8, 2010 · · 2 Comments

Midrange Remodeling Costs Vs. Payback from Remodeling Magazine
http://www.remodeling.hw.net/2009/costvsvalue/division/pacific/city/san-francisco–ca.aspx

repair man

Job Cost Resale Value Cost Recouped Project Job Cost Resale Value Cost Recouped Change vs.. 2008-09
$13,114 $10,674 81.4% Siding Replacement (vinyl) $10,607 $8,476 79.9% clip_image002
$12,760 $11,328 88.8% Window Replacement (vinyl) $10,728 $8,217 76.6% clip_image002[1]
$13,804 $12,175 88.2% Window Replacement (wood) $11,700 $9,044 77.3% clip_image002[2]
$47,052 $32,057 68.1% Bathroom Addition $39,046 $23,233 59.5% clip_image002[3]
$18,864 $14,517 77.0% Bathroom Remodel $16,142 $11,454 71.0% clip_image002[4]
$16,956 $13,922 82.1% Deck Addition (composite) $15,373 $10,904 70.9% clip_image002[5]
$12,838 $11,744 91.5% Deck Addition (wood) $10,634 $8,573 80.6% clip_image002[6]
$3,835 $2,930 76.4% Entry Door Replacement (fiberglass) $3,490 $2,275 65.2% clip_image004[3]
$1,353 $1,732 128.0% Entry Door Replacement (steel) $1,172 $1,470 128.9% clip_image004[4]
$100,023 $73,551 73.5% Family Room Addition $82,756 $54,051 65.3% clip_image002[7]
$83,463 $45,245 54.2% Sunroom Addition $73,167 $37,118 50.7% clip_image002[8]
$184,839 $143,073 77.4% Two-Story Addition $156,309 $107,286 68.6% clip_image002[9]
$63,803 $53,923 84.5% Major Kitchen Remodel $57,215 $41,260 72.1% clip_image002[10]
$124,579 $90,616 72.7% Master Suite Addition $103,696 $67,578 65.2% clip_image002[11]
$23,210 $21,991 94.8% Minor Kitchen Remodel $21,411 $16,773 78.3% clip_image002[12]
$24,712 $18,829 76.2% Roofing Replacement $19,731 $13,133 66.6% clip_image005
Lee Ginsburg

An Open Letter to Potential Home Buyers and Fence Sitters
January 19, 2010 · · 2 Comments

Dear Home Buyer and Fence Sitter,

The window of opportunity is closing. Let me explain my thoughts. Prices in the Bay Area are already inching up, same with interest rates. The time to receive the Federal Tax Credit of $8000 or $6500 is rapidly approaching. (Must be in contract by April 30, 2010) FHA is talking about increasing the minimum required down payment and or increasing the cost of required mortgage insurance.

250px-The_Thinker_close

You can purchase a home today and your costs will be fixed for the next 30 years. What else can you buy and maintain the same cost for the next 30 years? Rents will continually go up. You are at the Landlords mercy. It is time to get off the fence. The first step is to get pre-approved. This will tell you what the bank will loan you. There are many loan programs out there. I could refer you to someone if you would like. The pre-approval process is easy, is no cost and with no obligation. If you don’t do it now you will never know.

You do not need a large down payment. You can purchase a home with only 3.5%. Yes you need mortgage insurance. I don’t like mortgage insurance but if that is the only way to own a home, then go for it. Mortgage insurance will go away once you have 20% equity. Economists think values will increase substantially in the next 3-5 years and that will more than make up for the mortgage insurance. Some people tell me they want to save for a larger down payment. That bothers me because from my experience most people cannot save as much as prices increase.     Read more