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

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

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

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

Getting a Loan is Not Impossible

December 3, 2008 · Lee Ginsburg · 10 Comments

www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/11/30/RE8014CT0J.DTL .

I had some good friends over for Thanksgiving. Pretty early in the evening the question came up; “Lee how is the Real Estate Market?” “People can’t get loans? Huh”, he stated. This occurs often. Everyday it is mentioned the “Credit Crunch” we have to loosen up credit. I hope everyone reads “You Can Qualify For a Mortgage, It’s Just Tougher” by Marni Leff Kottle of the S.F. Chronicle, Read more

Pricing Homes to Sell in the Bay Area

November 2, 2008 · Lee Ginsburg · 2 Comments

Pricing homes to sell. Please note I said “To Sell” not just “For Sale”. Correct Pricing in today’s Bay Area’s Real Estate Market is more important than ever. To review market value please check out, http://www.pruvoices.com/2008/10/what-is-market-value/ Overpriced homes do not get viewed. They remain on the market for a long time, become stale and even after chasing the market with price reductions usually sell below market value. Buyers think something is wrong with it; the sellers are frustrated and desperate. Read more