Look at the property, the neighborhood, and the street.
If you have problems sleeping and require quiet, and more quiet, then don't buy a house on a busy street or near night clubs.
If you need public transportation to get to work, look for a home located near buses, or trains.
If you like trees, look in a neighborhood that has trees. But be prepared to clean up the leaves and do tree maintenance.
Stop, look, and listen to the property you are buying. If it makes you feel good then you will be happy there...without regrets.
Do you feel uneasy when you go to a small business and have to pay with a debit or credit card? You would rather pay cash? You're uneasy because you think they might share your information or even worse, they might get hacked?
Wouldn't it be nice if shops had even a small sign stating: "We do not share your information, and we have security against hacking." That would make the consumer feel a little more safe about their private information.
I went to a taqueria and realized that I didn't have enough cash to pay., and I was really hungry. Maan, I pulled out my debit card reluctantly.
California Association of Realtors
No it's not an automobile event, nor the California Association of Republicans event. It's the California Association of Realtors annual event taking place in San Diego, October 10-12.
Realtors from throughout the state will gather to network and go through technology and training. Some realtors come from out of state.
The expo usually rotates between San Francisco, and San Diego. I don't recall it being in Sacramento.
Anyway, if you can't find your realtor it's probably because he/she is in San Diego doing some business and having some down time. What do they call it? Yeah, a vacay!
This poem got to me because of what is says, the repetition, and because there is a realtor in it.
Let me explain.
The world is bad for the most part says the poem. Yes, there are many terrible things that happen.
However, to me there is a bright side. People are generally good and trying to do good. Most people want to help, and they would if they could.
But read the poem. The realtor is mentioned near the end.
by Maggie Smith
Life is short, though I keep this from my children.
Life is short, and I’ve shortened mine
in a thousand delicious, ill-advised ways,
a thousand deliciously ill-advised ways
I’ll keep from my children. The world is at least
fifty percent terrible, and that’s a conservative
estimate, though I keep this from my children.
For every bird there is a stone thrown at a bird.
For every loved child, a child broken, bagged,
sunk in a lake. Life is short and the world
is at least half terrible, and for every kind
stranger, there is one who would break you,
though I keep this from my children. I am trying
to sell them the world. Any decent realtor,
walking you through a real shithole, chirps on
about good bones: This place could be beautiful,
right? You could make this place beautiful.
This poem involves a mother and two children. There is no mention of a father.
The poet compares the terrible world with a terrible property, and puts forward a hard sale.
Good bones is realtor speak for this property has to be stripped to the studs.
Good bones, "any decent realtor." Most realtors ARE decent. Not one of them would take a mother and two children to a "shithole." Realtors know buyers can't accept distressed houses, and being pushy doesn't work. Such places may not pass the appraisal anyway.
Yes, there are people who look for terrible properties. Who? Investors. Saying to them it's got good bones would be OK. They makes rat holes beautiful, actually.
OAKLAND AND SURROUNDING AREA: PRICE INDEX FORECAST
Are home values going up or down in Oakland & surrounding area? Check out the forecasted cumulative returns over the next 3 years.
In a discussion with an investor. He said the real estate market was due for a correction. He didn't want to offer asking on a triplex in San Francisco on Judah St. He asked me what I thought. "I think the market is still going up, and I don't see any changes for the rest of the year."
Will it continue to go up. We shall see. Of course, properties that are overpriced aren't selling.
MSA (Metropolitan Statistical Area)
The landlord wanted to sell the house. He told me to tell the tenant he had first dibs. The tenant did the smart thing. Got himself a loan and bought the place. He knew his new rent in a new place was going to be the same if not MORE than the mortgage payments.
I told him that the owner was willing to wait for him. It was a struggle to get him approved. He just barely qualified for the loan.
In the end everyone came out happy.
Are you renting? Are you living in a house? My suggestion is to make a plan. Call me to see if you can buy a house now, in a month, three months or six months down the line. It starts with deciding to make a plan. Don't wait for the owner to put the house on the market. Get pre-approved and proposition the landlord, you know? Cheers.
If you are thinking of listing your house for sale this year, here is the #1 reason to do it!
Buyer Demand Continues to Outpace the Supply of Homes For Sale
The National Association of REALTORS' (NAR) Chief Economist, Lawrence Yun recently commented on the inventory shortage:
"With demand holding firm and homes selling even faster than a year ago, the notable increase in closings in recent months took a dent out of what was available for sale. Realtors are acknowledging, with increasing frequency lately, that buyers continue to be frustrated by the tense competition and lack of affordable homes for sale in their market."
The latest Existing Home Sales Report shows that there is a 4.6-month supply of homes for sale. This remains lower than the 6-month supply necessary for a normal market and 5.8% lower than June 2015. The chart above shows the year-over-year inventory shortages experienced over the last 12 months.
Meet with me so I can can show you the supply conditions in your neighborhood and assist you in gaining access to the buyers who are ready, willing and able to buy now!
You're in contract to buy a house. You've been approved on the condition that the house will appraise high enough to support the loan. Now you have learned that the appraisal has come in too low, and the lender will not approve the loan.
You have a number of options.
For example. Your contract price is $500,000, and you want a loan which will be 80% of the purchase price -- or $400,000. Such a loan will help you avoid paying private mortgage insurance (PMI) premiums. However, the lender has appraised the house for only $480,000, and will only lend you $384,000
Here are some of your options.
1. Challenge the appraisal. You have the right to obtain a copy of the appraisal. Read it carefully, and discuss it with your real estate agent. You should then talk with the appraiser and/or the lender. If you believe there were errors in the appraisal, ask that the appraiser return to the property to reevaluate the situation.
2. Renegotiate the sales price. Go to the seller to show how much the house is really worth. Most times sellers will go with the appraised value.
3. Cancel the deal. Read your sales contract carefully. Most offers are made with an appraisal contingency. This clause let's you out of the deal.
4. Put up more cash. You originally intended to put down $100,000 of your own money and get a $400,000 loan. Since the lender is only willing to lend you $384,000, you can -- if you have the cash and want to use it -- put up the additional $16,000 (or $116,000), and still buy the house.
Keep in mind, however, that appraising property is not a science; at best, it is an attempt to determine what a piece of property is worth, based on a number of different methods of evaluation. While appraisers use such benchmarks as square footage, replacement value and other similar concepts, the bottom line in my opinion is that appraising a house is a very subjective exercise. Since no two houses are really similar, there has to be a lot of subjectivity involved in any assessment.
The best test of market value: what a buyer is willing to pay and a seller is willing to accept for the house.
Interested in finding out how to buy or sell a home? Meet with me and I can guide you through the process.
Ernest Villafranca, Ph: 510-418-9443 m, website: eastbaybetterhomes.com; oaklandhomesales.com. Hablo Español.
One ways to build wealth is trough real estate. Another is through education...university degree.
Here's proof of the first.
Every three years, the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner's net worth is 36 times greater than that of a renter ($194,500 vs. $5,400). In a Forbes article, the National Association of Realtors' (NAR) Chief Economist Lawrence Yun predicts that in 2016 the net worth gap will widen even further to 45 times greater. The graph below demonstrates the results of the last two Federal Reserve studies and Yun's prediction:
Put Your Housing Cost to Work for You
Simply put, homeownership is a form of 'forced savings.' Every time you pay your mortgage, you are contributing to your net worth. Every time you pay your rent, you are contributing to your landlord's net worth. The latest National Housing Pulse Survey from NAR reveals that 85% of consumers believe that purchasing a home is a good financial decision. Yun comments:
"Though there will always be discussion about whether to buy or rent, or whether the stock market offers a bigger return than real estate, the reality is that homeowners steadily build wealth. The simplest math shouldn't be overlooked."
If you are interested in finding out if you could put your housing cost to work for you by purchasing a home, meet with me or a real estate professional in your area who can guide you through the process.
Ernest Villafranca, Ph: 510-418-9443 m, website: eastbaybetterhomes.com; oaklandhomesales.com. Hablo Español.
One final thing, homeowners are happier people.
Fireplaces. They are beautiful. They warm our houses, and in the cold of the holidays they make us feel safe. Who doesn't like to sit by a crackling fire? Some say that watching a fire lowers your blood pressure.
However, residential wood burning is the leading source of wintertime air pollution in the Bay Area and studies have shown that there are significant health impacts from exposure to fine particulate matter found in wood smoke.
So now we have an additional disclosure in the real estate transaction process.
The Bay Area Air Quality Management District (“BAAQMD”) established the Wood Burning Devices (Wood Smoke Rule), Regulation 6, Rule 3 to reduce wintertime smoke pollution and protect public health.
The Wood Smoke Rule requires anyone selling, renting or leasing a property in the Bay Area to disclose the potential health impacts from air pollution caused from burning wood. Fine particulate matter, also known as PM2.5, can travel deep into the respiratory system, bypass the lungs and enter the blood stream. Exposure may cause short term and long term health effects, including eye, nose and throat irritation, reduced lung function, asthma, heart attacks, chronic bronchitis, cancer and premature deaths. Exposure to fine particulates can worsen existing respiratory conditions. High PM2.5 levels are associated with increased respiratory and cardiovascular hospital admissions, emergency department visits, and even deaths. Children, the elderly and those with pre-existing respiratory or heart conditions are most at risk from negative health effects of PM2.5 exposure.
The Buyer should consult with a licensed professional to inspect, properly maintain, and operate a wood burning stove or fireplace insert according to manufacturer’s specifications to help reduce wood smoke pollution. The Air District encourages the use of cleaner and more efficient, non-wood burning heating options such as gas-fueled or electric fireplace inserts to help reduce emissions and exposure to fine particulates.
When the BAAQMD issues a Winter Spare the Air Alert during the winter season from November 1 through the end of February, it is illegal to burn wood, manufactured fire logs, pellets or any solid fuels in fireplaces, wood stoves or outdoor fire pits. To check when a Winter Spare the Air Alert is issued, please call 1-877-4NO-BURN or visit www.baaqmd.gov or www.sparetheair.org.
Brokers do not provide advice pertaining to legal, accounting or Building Code compliance. Parties are to consult with experts in these fields, if they have questions or concerns