Brisbane – Missing the Boat…
Many home buyers and Realtors are missing the boat when it comes to a nearby town that offers great weather, lots of amenities and darned good real estate prices. I’m talking about the little community of Brisbane. It is located 10 minutes (or less, if you drive like me!) from the airport and is only 10 minutes to downtown San Francisco. Yet, hardly anyone even knows of it’s existence.
Brisbane is a hidden gem here on the Peninsula. It is located on the side of San Bruno Mountain between San Francisco and South San Francisco. There are only 3,597 residents, which makes it one of the smallest communities in the area. It is very unlike your typical suburb in that it has a hodgepodge of all types of architecture, from shacks to mansions, with very few ranch style homes. Many of the homes have great views of the Bay and downtown San Francisco.
The people of the community are almost as diverse as the architecture. Living in the town are world renowned film makers, rocket scientists, artists and musicians…all living happily amongst all of us regular folks. Brisbane is known as the “City of the Stars” because for over 65 years the residents have put up stars on their homes during the holiday season and even have a “Festival of Stars” each year. Read more
“I Have My Newborn in a Drawer!” And Other Tips On Balancing a Real Estate Career with Motherhood.
I write this post to encourage those, who would like to have a successful career in real estate AND have a family, to give it a try. It can definately be done!
December 20, 1999 was the day my first child was born! I lived in a studio condo that my husband and I had recently bought in San Bruno. He worked in a hotel as a waiter and worked most evenings and weekends! I was a new real estate agent with just one year in the business. I wondered how I was going to pull off a successful career with a newborn!
I made a pit stop at my office in San Bruno on the way home from the hospital to pick up a cradle for the new baby boy. He was a month early so I hadn’t even made a nest! Luckily, I had a friend who brought me her hand me down cradle for him to sleep in. I looked pretty funny walking in my office to pick it up in a hospital gown and bracelet still on my wrist! That was the day that I realized that I was going to make it in this business, baby or no baby! I could take the ridicule of looking funny and winging it when time didn’t allow preparation as long as I kept moving forward. Read more
5 Tips To Improve Your Odds in a Multiple Offer Situation
“Multiple offers? I thought we were in a Buyer’s Market?” Well, it certainly IS a great time to buy in that we are seeing interest rates that are still at historical lows coupled with housing prices that are more affordable. But on the other hand, here in the San Francisco & Peninsula area, we are seeing an increasing number of multiple offer situations. For example, on the last home my clients submitted an offer for, there were 26 (yes TWENTY-SIX!) offers, all of which were put in within the home’s first two weeks on the market! Whatever the reasons for this, it’s become clear that if a home is well priced or below market value, there’s a good possibility that prospective home buyers will find themselves in a multiple offer situation. Here are five tips to help make your offer stronger:
Real Estate Jargon…What Do All of These Terms Mean?
We Realtors often bandy about tons of real estate jargon. We talk to our clients and friends about short sales, REO’s, contingency periods, etc. I have come to realize, however, that just because we know what all of this stuff means, not everyone does, so I thought it would be helpful to describe some of the terms we use. Hopefully, this will give you some idea of what we’re talking about as we rattle on and on and your eyes are going bleary! Here goes:
Contingency Periods: We, generally, refer to these when doing our contracts. As an example, we tell you that you will have a 10 day period to “remove your property condition contingency” or 20 days to remove loan and appraisal contingencies. What this really boils down to, is that these are the time frames during which you will have the right to get your deposit back if you cancel the contract. Once you “remove these contingencies,” you are no longer entitled to get your deposit back, unless you can prove some sort of fraud. Read more
Top 10 Reasons to Purchase Bay Area Real Estate in Today’s Market
Top 10 Reasons to Purchase Bay Area Real Estate in Today’s Market
1. Interest Rates are near 40 year lows. You can lock in your housing costs for the next 30 years if you buy not if you rent.
2. Property Values are at 5 year lows. Some areas have declined in value as much as 60%. Bay Area Real Estate has a long history of recovering and appreciating.
3. There is a large inventory of homes to choose from with Motivated Sellers. Individual owners and banks selling today must sell.
4. Getting a loan today is not difficult. It is easy. Just show you can make the payments.
5. Conforming Loan Limits have been increased to $729,750 allowing for low interest rates on these loans. Works well in San Bruno, South San Francisco, Daly City, San Mateo, Millbrae and other cities.
6. FHA has loan programs with a minimum of only 3.5% down. Veterans can take advantage of VA loans with no money down.
7. First time Home Owners will receive an $8000 Federal Tax Credit. (First time is considered not owning a home in the previous 3 years.) Income restrictions apply.
8. Any buyer regardless of income or ownership type will receive a $10,000 California State Tax Credit when purchasing a new home or condo. It is suggested to use a Real Estate Agent to assist you in negotiating even more with new home builders. First time New Home Buyers can combine both Federal and State credits for a total of $18,000.
9. Investors can obtain a positive cash flow in some areas with 25% -30% down.
10. You will be respected as a good and smart American doing your part to help our economy. You will receive a personalized Thank You note from Pres. Obama, Gov. Schwarzenegger, your Realtor and Lender. Oh! In 5 years you will take me for dinner thanking me for helping you make so much money. It is a Window of Opportunity. This is the Bay Area Real Estate’s “Perfect Storm”. It will not last forever!!! Don’t let it pass you by!!!
“It Is Better To Own Real Estate and Wait, Than Wait to Own Real Estate”
Questions! Why so many questions?
You’ve decided to go out and jump into the home buying process. Good for you! You think, this will be fun…driving around neighborhoods, looking for homes, thinking about all the ways you’ll redecorate. What you might not think about is all the questions you are going to be asked and all the personal information you’ll be expected to share. I’ve had one client lament it would feel less vulnerable standing in a room full of strangers with their skivs on than laying out all the details of their life. But like many things, that which isn’t pleasant may still be good for us. Read more
Visiting Homes in the Rain?
I just got back from hosting an Open House in Burlingame. It’s a beautiful house but it was pouring rain outside, so needless to say, not too many people came through. With that fresh in my mind, I thought I would write a quick blog about why it might be a good idea to view a home when it’s raining.
Just how SHORT are short sales anyway?
Want the “short” answer?… But seriously, a short sale transaction can actually take much longer than a regular sale. First of all, what exactly is a short sale? A short sale is when a home is being sold for less than what is owed on it, i.e. the proceeds from the sale would not be enough to pay off the loan and thus fall “short.” Because the lender is taking a loss, the sale cannot take place without approval from the lender. Unfortunately, the process of getting that approval can sometimes take weeks, even months, depending on the lender.
Here are a few things to keep in mind if you’re thinking about buying a short sale: Read more
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Recent Posts
- California Prop 90 Update!
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