commentary: Transparent. Frankly, I'm sick of the word... - 07/18/08 07:27 PM
Catch phrases are being overused, don't you think?
They're like a good song that gets played so much you're afraid to turn on the radio for fear of having to hear it played once more.
It's Friday and call it "fried-day" if you've had as hectic of a week as I-and with only two more work days to go, this seems like the best day to get off a rant.
Allow me to digress...If the 90's were defined by conspicuous consumption than the "Ought's" so far have turned out to be years filled with anxiety, uncertainty and fear.
Before the new millennium ever … (1 comments)
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commentary: Why should you care if other people lose their homes? - 07/02/08 10:34 AM
There's been a lot of discussion on whether or not the government should help people during the current mortgage crises. On one side of the debate there's a growing tide of people who feel that greedy speculators get whatever they deserve-on the other, a more compassionate sense of helping victims of mortgage scams and fraud.
Where's the reality? As in most cases, it lies somewhere in between.
Sure speculators tried to score big during the last real estate run-up. Now many are getting burned, and many others are walking away from their speculative investments and are burning others. How? Like stocks, … (3 comments)
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commentary: There's greener grass down the Peninsula - 06/11/08 01:04 PM
Getting tired of the media reporting the ill fate of the housing market? We're not saying it's not big news. The rate of foreclosures is staggering and until the existing level of homes for sale diminishes (i.e. buyers start buying) it will only get worse. But an interesting story could be told about the areas which are not affected-and why.
Consider yourself lucky if you are living in the southern Peninsula. Cities between Millbrae and Palo Alto are far less impacted by foreclosures than their neighbors to the north. Most impacted are the areas with low housing unit costs-areas that enticed … (0 comments)
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commentary: Going Green--all about image and no substance - 05/30/08 01:57 PM
It’s pretty exciting this time of year. Don’t you just love coming home to a full answering machine with voice mail messages from your representatives in government? I don’t know about you, but I feel pretty darn important when Bill Clinton calls and asks me to vote for his wife; or it’s Arnold Schwarzenegger himself calling to see if I’ll vote to be taxed a little more so he can balance the budget.
This year it’s the year of the postcard. Funny too, since all of the candidates are claiming to be going “green” this year.
Richard Holober’s postcard is not … (1 comments)
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commentary: And just one more reason real estate sales are down… - 05/04/08 02:52 PM
After reading Kenneth Harney's article titled "Tight credit hitting specialized areas of mortgage market" in the May 3, 2008 Real Estate section of the San Francisco Chronicle, it struck me how far we have to go to return to a more normal housing market. Mr. Harney discusses the multitude of new restrictions on home mortgages which all have one glaring similarity-they make it harder for borrowers to get a loan.
Some of the new loan restrictions affecting home buyers are:
•· No more zero down financing
•· No more stated income for non self- employed people
•· No refinancing a property that had a … (2 comments)
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commentary: Belmont Buyers, Now's Your Chance - 04/21/08 04:40 PM
Lots of large homes are on the market in Belmont while the inventory of homes for sale is reaching a high not seen since 2003. Just 22 of the 52 homes for sale are listed under $1,000,000; while the median home currently for sale is just over 2,000 square feet, the median home in … (2 comments)
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commentary: IF WE AREN'T ALREADY IN A RECESSION, WE COULD BE SOON - 04/07/08 08:40 PM
A front page article in the Sunday edition of the San Francisco Chronicle titled "Lenders Retreat as Market Plummets" (Sam Zukerman-staff writer April 6, 2008) may frighten some people into cashing their home equity line checks fast.
The article states that many banks such as Bank of America, Country Wide Financial and Washington Mutual are freezing homeowner's equity lines in fear of losing more money to foreclosures. Let's hope Wells Fargo continues to believe in the Bay Area like Bank of America used to.
This could spell a downward spiral as lenders cut back on honoring equity lines that might just be the thing … (11 comments)
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commentary: Allow Me To Think Out Loud... - 03/15/08 05:47 PM
The San Francisco Chronicle just splashed more bad news about the housing industry all over the front page of the Friday (March 14th) issue. Sales are down-way down. Part of the explanation seems to be that tightening lending standards have made it hard to afford a home since qualifying at artificially low teaser rates is no longer acceptable. Stated income loans are only available for self-employed individuals and Wall Street stopped buying mortgage backed securities so rates are up too.
Of course buyers who have been priced out of the market are now waiting to jump in at the bottom, which only … (2 comments)
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commentary: On Sale...FREE Advice! - 01/29/08 09:33 PM
There are great deals to be had on appliances right now. Everyone knows that the U.S. economy is driven to a large degree by consumer spending. Tighter post Christmas spending patterns create a need for stores to offer up sales and financing deals to lure consumers back to the stores. Check out Best Buy and Circuit City to see the amazing deals one can get right now!
This year, with consumer confidence low, the average consumer will pull back even more. That translates into great deals for the savvy (or fortuitous) consumer who's waited to buy. On big ticket items such as … (1 comments)
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commentary: Butter or Bacon. How Do You Know What's Good For You?... - 01/24/08 04:17 PM
Let's point fingers. It's the American way-when things go awry, we want to know who to blame. There's got to be somebody out there whose hands are dirty? And if we can't find them we'll pick an easy target.
So who's is to blame for the mortgage fiasco? Might there be enough blame to go around for everyone?
The banks and lenders who made the loans certainly had to know the risks involved-they designed the loans in the first place. They are the ones that lowered the qualifying standards so that a buyer could get approved for a loan at a minimum negatively … (3 comments)
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commentary: Bay Area Median Values are Worthless - 01/10/08 11:06 AM
What You Hear About Median Home Values May Be Completely Wrong
The Multiple Listing Service for the Bay Area peninsula has launched the December sales stats and there is some compelling evidence that Bay Area homes values dropped slightly over 2006.
The median home price is the midpoint at which half of the homes sold for more, and half sold for less. Of course if smaller or larger homes are selling then these numbers are easily skewed-especially with a small market sample.
San Mateo County posted a reduction in the median home price to $885,000-a $40,000 (4.3%) decline over $925,000 in 2006.
This … (0 comments)
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commentary: New Year's Day. Why January 1st? - 12/29/07 07:56 PM
Why do we celebrate New Year's Day on January 1st? For the same reason the sun never came up in Brittan for 12 days back in 1784-calendars.
On September 2, 1752 the good people of England went to bed and when they awoke it was 12 days later. The sun never came up during those days-no newspapers were printed, no one died and no one was born. What happened to freeze time for 12 days? It was the British Calendar Act of 1751, which declared the day after Wednesday the 2nd of September to be Thursday the 14th.
The reason for the … (1 comments)
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commentary: December 14th-Mark you Calendars for the year's best asteroid show! - 12/04/07 03:22 AM
My Brother and I have a long history of watching asteroid showers from our roof top as children. Today, they still excite us as we enjoy the "fireworks" that the heavens offer us so many time a year. This particular show appears to be a good one--though they have promised such before and we've been disappointed,. Yet unlike the Fourth of July fireworks which have been less than spectacular in years past, these folks really have no control over the outcome. Here's to hoping the sky is clear.
Click here for the full story... http://science.nasa.gov/headlines/y2007/03dec_asteroidshower.htm?list192695
Happy watching,
Drew
… (2 comments)
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commentary: The Dual Income Trap - 11/19/07 12:19 PM
The Dual Income Trap
Elizabeth Warren, A Harvard Financial Law Professor writes in a very revealing article titled "The Middle Class on the Precipice" wherein she examines the dilemma now facing dual income families as spouses no longer have the added ability to enter the work force if even to temporarily buoy a family's income.
Ms. Warren's assertions can be seen as they apply to this year's increase in foreclosures. In the 1970's many households were single breadwinner families who purchased their home based upon a single income. This of course meant that if the sole money earner lost their job the … (0 comments)
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commentary: Buyers--Should I Stay or Let it Go? - 11/18/07 10:40 PM
Much of the current real estate media attention has been focused on foreclosures and sub-prime lending practices. The media's relentless impending doom stories have certainly rattled the nerves of the many would-be buyers. The question is should a buyer stay in the housing market hunt or let it go?
Buyers tend to fall into at least one of three groups; buyers who believe the market will go down and are waiting on the sidelines, ones who can no longer qualify for a loan due to tighter lending guidelines, and buyers who see the new opportunities to own a home.
The Buyers who … (2 comments)
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commentary: High Noon in Tombstone-October 26th 1881 - 10/26/07 07:21 PM
Well almost, actually it was 1:52 pm.
Today marks the 126th anniversary of the famous "Gunfight at the OK Corral" in Tombstone Arizona-then called the Arizona Territory.
Here are some quick trivia facts about Wyatt Earp and the shootout at the OK Corral:
Wyatt Earp was first and foremost a simple business man who lived to be 81 and died in Los Angels in 1929. (I happen to own a copy of his death certificate.) Wyatt Earp was never a U.S. Marshall The "Shoot-out at the OK Corral" was started by an argument over some stolen mules? Wyatt Earp and Doc … (1 comments)
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commentary: Hunter's Moon-October 26th-The Biggest of Them All! - 10/26/07 02:13 PM
Today marks the occasion of the "Hunter's Moon". A full moon which occurs each October but this year is special. Tonight's full Moon is the biggest full Moon of 2007. It's no illusion. The Moon's orbit is an ellipse with one side 30,000 miles closer to Earth than the other. The full Moon of Oct. 25-26 is located on the near side, making it appear as much as 14% bigger and 30% brighter than lesser full Moons we've seen earlier in 2007.
This can be found on NASA's web site, "According to folklore, October's full moon is called the "Hunter's Moon" or … (2 comments)
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commentary: Did the DOJ Get It Right? - 10/11/07 06:54 PM
One DOJ web page provides this insightful comment in a subtitle:
"B. The Internet's Effect on the Real Estate Industry"
"With individuals assuming more of the responsibility to gather and assess information, less time and effort is required by real estate agents in assessing market conditions (for sellers) and in identifying and showing houses [(for buyers)]. The cost of an agent's service, therefore, should go down reflecting this shift in burden."124
First this implies that everyone is assuming more responsibility gathering their own information. Some are and some are not.
The second part of the sentence: "...less time and effort is required by real estate … (3 comments)
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commentary: What's Eating Your Home's Equity? - 10/11/07 04:01 PM
This time of year after a heavy rain-followed by a sunny day-we see these long-winged creatures flittering about. If you aren't familiar with a damp-wood termite, you might think it's just another fly-by-night pest. But in fact these little buggers are responsible for BILLIONS of dollars in damage to property each year.
These are a few of the unlucky damp wood termites who were caught by a little spider friend of mine at sundown. Damp-Wood termites typically venture out toward artificial light in the early evening hours.
The process of termite "swarming" is in an effort to establish a new colony. Frequently, they … (0 comments)
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commentary: Belmont's View Ordinance--Only a Vision? - 10/08/07 08:50 PM
Belmont View Ordinance-Only a Vision?
Belmont-or beautiful mountain (beau mont)-is one of the most unique and charming cities on the peninsula. It's heavily forested hillsides and undulating hills make for a delightful backdrop against the busy peninsula transportation arteries.
Belmont offers impressive views of San Francisco and the open space around Sugarloaf Mountain, the San Francisco Bay, and on any clear day Mt. Tamalpias, Mt. Diablo and Mt. Hamilton.
Belmont's attributes are many but its highly coveted views are among the top reason people choose to live in Belmont.
The hills of Belmont weren't always so heavily wooded as suggested by this rendering-published in … (2 comments)
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