Warren’s Right
So what is it that Warren Buffett is right about? “It’s never paid to bet against America . We come through things, but it’s not always a smooth ride.”
To be sure, it hasn’t been a smooth ride for those of us who earn our living from the housing and mortgage markets. But we believe that better days lie ahead and that the bumpiest days are behind us. In fact, we are enthusiastically encouraged about the future of both markets, and for what we think are good reasons: home prices and mortgage rates are at multi-year (and in some instances, multi-decade) lows, the economy is growing, employment is improving, and overall sentiment remains sufficiently dour to suggest any impending bubbles reside far in our future. Read more
It’s That Time of Year Again!!!
It’s almost here… the best time of year! Christmas is right around the corner and seems to sneak up every year. Be prepared this season, block out a time this week/end to write a list, check it (at least twice) as you accomplish all of those holiday tasks we love doing so much. To help keep you in the mood visit the attached holiday site to see the homes lit with the most cheer; www.lightsofthevalley.com! Pick the County and City of your interest and enjoy!
I encourage you to check out my holiday contest this year! All it takes is the best holiday picture you have… family, friends, kids/babies, loved ones, pets! There will be a winner for each of the following categories: Cutest picture (the kind that makes you go awwwwhhhhhhh…..); funniest picture (the kind that makes you laugh from your belly); and the last category would be for the most interesting picture (the kind that makes you wonder…) The winners will be posted on my website [www.BarForU.com] ALL of the contestants will be put in a holiday virtual album on my website for everyone to enjoy Good Luck! (submit your pictures by email, text, mail, or in person)
For those who need a little help in the gift giving area I have attached a list of 25 gift basket ideas to give this holiday to ensure you pick the right gift for the right person. Good Luck and may your holiday be filled to the top with Love and Cheer! Read more
Ethics in Real Estate
Being a nice guy has its perks and its flaws…for my clients, it means working with someone they can trust and depend on. I don’t mean to toot my own horn, but I can say I am one of THE BEST when it comes to communication. People don’t like surprises. People don’t like to be left in the dark. People need peace of mind. I know this and cater to it fully and with great compassion.
Of course, there is always the downside in being a nice, dependable realtor. And that is dealing with realtors who, well, just aren’t. Their turnaround time to call you back is 1 to 2 days. They won’t always answer your calls. They might be so busy, they might not even remember who the heck you are when all you are doing is getting confirmation they received the buyer’s offer.
But I digress. Working in whatever industry that focuses on customer service, it is always all about the client and the quality of salesmanship they endure. A good realtor will always be ready to bat for the client and should do so with ethics, integrity and RELIABILITY. It is most likely because of my own bad experiences I place such emphasis on this subject. So for now, it is only fitting that I forward from the National Association of Realtors, the 2010 Code of Ethics and Standards of Practice, Duties to Clients and Customers: Read more
California Prop 90 Update!
California’s Prop 90 allows a home owner in California to sell their home, buy a replacement property in a participating county, and move a lower prop 13 based tax value from their old home to the new county for the purpose of home tax assessment. It allows the adjusted base year value of the original (sold) property to be transferred to the newly purchased or constructed home if eligibility requirements are met.There are some restrictions like the claimant or claimant’s spouse must be at least 55 years of age. The replacement property must be your principal residence and must be eligible for the homeowners’ exemption.
Participating counties are Alameda, Orange, San Mateo, Ventura, Los Angeles, San Diego, Santa Clara and now, El Dorado County.
There are also purchase price restrictions on the new replacement property. Read more
Now is the time to pay up to trade up
There was an interesting article about trading up in the Chronicle today. Check it out.
http://www.sfgate.com/cgi-bin/blogs/ontheblock/detail?entry_id=69044&tsp=1
With the vaules I see and the interest rates… this could be one of the best times to buy a home in years…. whether you are trading up or not.
Dean Rizzi
www.deanrizzi.com
12 Hidden Costs of Homeownership
Hi everybody! I know, it’s been awhile..but here’s an awesome article I found earlier this year that would benefit first-time home buyers especially!
-via Luke Mullins, USNews.com (April 8, 2010)
As the selling season gets underway, many Americans will be looking to take advantage of the lower real estate prices, attractive mortgage rates, and federal tax credit by purchasing a home. But remember: Not all of the costs associated with homeownership are reflected in the listed price. Indeed, many buyers — particularly first-time buyers — may be surprised by the amount of cash they’ll need to set aside for housing-related expenses that they hadn’t previously considered. These often-overlooked expenses can include everything from title insurance to lawn mowing. To give would-be home buyers a better sense of the budget they’ll need to buy and maintain a home, U.S. News spoke with a handful of real estate experts and compiled a list of 12 hidden costs of homeownership:
1. Home inspection. Since a home purchase is likely to be the largest financial investment of your life, it’s a good idea to have it professionally inspected beforehand. A home inspector can point out areas of the property that may need repairs. Buyers can use this information as leverage during home-price negotiations or simply to determine whether or not the property is worth purchasing. “It’s not required, but certainly I recommend it to buyers,” says Judy Moore of Re/Max Landmark Realtors in Lexington, Mass. “It is actually very helpful in that [buyers] learn about the property and how to maintain it and it also alerts them to any potential issues that may be coming up in the near future or need to be taken care of.” The cost of a home inspection, which can run several hundred dollars or more, is typically incurred by the buyers before they go to closing, Moore says. Read more
Loan Modifications – They Can Be Done! Lots of Patience Required!
I haven’t blogged in a long time, partially because I’ve been super busy with work, but also because I’ve been so wrapped up and worried about a loan modification that I had been trying to get on my house since 2008. Yes… I said 2008!
This has been one of the most frustrating and stressful experiences of my life. As mentioned, I started talking with the bank in late 2008. Around July of 2009, they told me that I had qualified for a certain type of loan modification. They gave me my new payment amount and I started paying that amount. I paid them faithfully every month thereafter. I was concerned, however, because I never received any formal paperwork and, because real estate is my job, I knew something had to be wrong. I called them constantly and they kept telling me there was no problem, everything was “in process.”
I believe it was in January this year that I returned home to find a letter from the bank in my mailbox. The letter indicated that I was in default and that if I didn’t pay them $35,000 by a certain (very near) date, they would start foreclosure proceedings. Needless to say, I freaked out. Read more
A Quick Snap Shot Of Daly City
I took a quick look at some of the Real Estate Trends in Daly City and found the statistics to be quite encouraging. These statistics are comparing April of 2010 to April of 2009.
Median Price Of Properties Sold: +6%
Properties Under Contract: +69%
Properties For Sale: -16%
Average Days On Market: -7%
Average Monthly Supply Of Inventory: -63%
The numbers are very encouraging, it appears, while prices are slightly up, so is interest in them. Inventory has decreased and so has the amount of time properties are staying on the market. Simple supply and demand, demand is up while supply is down, means the prices properties are selling for have risen.
It is still a great time to buy or sell in the current market, much of it depends on your own personal needs.
Adam Chinn: Visit my website at http://adamchinn.com
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