Top 5 Reasons to Buy a House in the Bay Area in 2012
1. Prices are down!
2. Interest rates are a low 4% and below. With interest rates low and prices down, people who have had the same income for the past 2 years can qualify for home loans easier.
3. FHA loans requires only 3.5% down.
4. The Bay Area is the leading real estate market next to New York. There is always a demand for housing here whether it’s San Francisco, San Mateo County, Marin, or East Bay. If you buy in 2012 and hold on to your property you may prosper in the years to come!
5. It’s a great rental market! If your desire has always been to invest, you won’t have trouble finding renters in 2012.
Karin Cunningham
www.KarinCunningham.com
www.FaceBook.com/SanBrunoLife
650-438-3504
Should I Tell Them What They Want to Hear?
Over the last couple of months I have lost out on three listings….three really good homes in great locations..because I was honest with the potential clients. In each case, the owners had very unrealistic expectations about what they could get for their property, or as sellers are fond of saying what they “needed” to get out of their properties.
I did everything that I could to be upbeat while meeting with all of them, but two of them wanted $1,500,000 for homes that were either in much need of updating or that had been updated in a particular style that would not be appealing to a large number of buyers. Both of those homes were cluttered and had several pets roaming around, which would make them hard to show. The owners said they “sensed a lot of negativity” when I made a few recommendations about things they could do increase the value of their homes.
Anyone who knows me, knows that I am about the least negative person around….I always try to put a positive spin on everything…but it’s my job to try to help owners get the best possible price for their home, so I have to tell them things that would help them or I wouldn’t be doing them justice. Read more
Vacant Homes a Target for Homeless and Criminals
I was scheduled to do an open house at one of my listings in a terrific San Francisco neighborhood today. When I arrived at the property and unlocked the door, the first thing that I saw were 2 men’s socks and a bunch of dirt, along with something that looked like a dirt clot, but later turned out to be a rock.
Since this house has always been immaculate, I knew that something was radically wrong, so instead of entering the house, I first called the owners. When I was unable to reach them, I decided to call the police. Although it turned out that the intruder had already left, I’m so glad that I did call them, because it turns out that they were able to get really good evidence of who had entered.
This home had previously been “staged” and furnished, but the owners had requested that the staging be removed due to cost concerns, so it is now completely vacant. Although we kept the front drapes closed so that people would not notice that it was vacant, someone clearly noticed, broke a downstairs window and spent at least one night in the property, apparently ripping down one of the drapes and using it as a blanket. Read more
The Silent Killer….
Amongst many new laws being enacted in 2011, is one that will require carbon monoxide detectors in every single home in California by July 1, 2011. Newly constructed homes are required to have them effective January 1, 2011. Although many new laws are often silly, this one seems super important, since so many people die each year due to carbon monoxide posioning.
For those unfamiliar with carbon monoxide poisoning, it is known as the silent killer. It is a colorless, odorless gas that is nearly impossible to detect without a CO detector and seeps out through gas heaters and appliances, as well as through engines left running in garages off homes.
It can cause nausea, headaches, dizziness, chest pain and vomiting and is really hard to diagnose because the symptoms are so similar to other illnesses that occur during the winter months. It can and does kill. Just one example are the 5 teenagers in Florida that died in December. According to Wikipedia, on average 170 people die every year due to this killer. Read more
Holiday Shopping for a Home? The next 10 days are Black Fridays In Real Estate!
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!!!
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
Is There a Prudential Real Estate Office at the Shops at Tanforan, San Bruno?
At the Shops at Tanforan, San Bruno, Ca., our Prudential California Realty, San Bruno office has a kiosk where 1,00′s of people pass by each day. We display a lot of our residential listings for sale in cities from San Francisco to San Jose, even some in the East Bay! We provide information on qualifying for a loan, current interest rates and payment scenarios to people interested in purchasing a home. We can also show local homeowners the current market value of their homes or rental property!
The success at our kiosk also works as a great real estate market activity indicator. In the recent months, our agents have made contact with more inquisitive home buyers than in the months before. As a market indicator, it would seem that more people are out there buying. Our sales are steady and the flow of people through the mall is constant!
With the holidays here, the Shops at Tanforan have been doing a lot of promoting for their stores with the Shops at Tanforan Facebook page, newspaper ads, the My School’s Cool receipt program, Santa photos, cultural dance performances and radio shows!
No wonder our Prudential San Bruno kiosk does so well! Next time you are at the mall, stop by and see us! We’re happy to be your friends in real estate! You can also visit us at our Prudential San Bruno Facebook page!
Karin Cunningham
Investing: Bay Area Real Estate Vs. The S&P
I personally have been investing in Bay Area real estate since I moved out here from Brooklyn in 1977. I have 75% of my assets invested in Bay Area Real Estate. Most of my remaining assets are invested in the stock market. I was curious which investment has had the best return on my investment over the last 20 years. Bay Area Real Estate has proven to produce an 8% greater return than the S&P over the last 20 years. Quite honestly I was expecting that number to be greater, but I am grateful, that with all of the ups and downs, I have made the right decision.
Let me quickly explain my numbers. I took a $100,000 investment in the S & P in 1990 and compared that to a $500,000 home purchase using the same $100,000, or the standard 20% down payment also in 1990. I am not a statistician so my numbers are rounded off and are deemed reliable, but certainly not guaranteed. These numbers are based on not selling and leaving it invested in an S&P index fund. Let me say if you paid cash for that same $500,000 home you would be substantially better off with investing in the S&P. Read more
San Bruno’s 70th Annual Posy Parade
San Bruno’s 70th Annual Posy Parade is this Sunday, June 6th at 1:00 and it’s going to be a blast this year! The theme is “Green Transportation”. The annual “Festival of Flowers” started in 1941 as a tribute to children. The parade, traditionally for kids 14 and under has acheived both state and national fame for San Bruno.
Each year, the community gathers along San Mateo Ave. and Crystal Springs Rd. to watch marching bands, decorated floats from schools and service clubs, sports teams, dance troops, and the Posy Parade Princess and her court. The mayor passes by on a fire truck and police cars pull up the rear!
At the end of the parade we are entertained by a few baseball games including an all 8th grade game of St. Robert’s and Parkside and an all 10 year old game. We usually have great weather during the parade and it looks like we will be lucky again this Sunday! This is an event you won’t want to miss!
Karin Cunningham
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Recent Posts
- What is a reverse mortgage?
- ‘Tis the Season for Tax Breaks
- Top 5 Reasons to Buy a House in the Bay Area in 2012
- After Christmas Sale, – Bay Area Homes up to 60% off
- San Bruno Eye Sore is about to Go
- What If My Offer Is Rejected?
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