Real estate, where we all make tons of money, drive fancy cars, wear stylish clothing and eat in expensive restaurants, yeah, right.

The real estate business is dynamic, changing conditions mean brokerages and agents have to stay on top of what works and what doesn't. Is it a seller's or buyer's market? Are interest rates going up or down? How much inventory is out there?

These questions and many more are presented everyday to those working in the real estate business. One of the most important question for most is, "where is my next deal coming from", or "how do I find more clients". The life of an entrepreneur, it's so wonderful and exciting!

The answer to these types of questions depends on you and what you are willing and able to do. Walk neighborhoods, mail postcards, buy Internet leads, hold open houses, social networking, the list is endless. What do you feel comfortable doing, find out what it is, that way you'll do it consistantly until it produces results. If you hate holding open homes don't expect that activity to produce results. Your real feelings will shine through the veneer and devulge your true desire to be elsewhere.

Not all agents work the same, what works for one agent may not work for another. For example, I won't buy internet leads from the lead aggregators, not that I don't think internet leads have value, it's just that I believe the aggregators are stealing our business then selling it back to us. So if internet leads are your thing, generate your own through social networking, websites, blogs, etc., or buy leads from an agent recommended aggregator. Make them prove their leads produce results, talk with their existing agent clients and make sure you hold them accountable. And if they won't let you try before you buy, keep looking.

If you love to meet and talk with real live people, hold open houses or walk the neighborhoods, this may be exactly what is needed to get your real estate business moving. It's amazing the effect any activity can have on our businesses.

One of the things I like most about the Area Pro Realty franchise is you are allowed to be who you are and run your business so that it meets your needs and your clients. Whatever floats your boat, as long as it's legal and ethical, you'll get the support of the whole company. So whatever "Your Thing" is, do it often, do it right and always remember, Never give up, never surrender.

If you are an experienced agent looking for the right career opportunities, or a broker interested in the availability of an Area Pro Realty franchise in your area, follow these links and/or call Mike Volkin for more information, you'll be glad you did. (925) 798-2732

Welcome aboard to our newest franchises: 

• Area Pro Realty Treasure Coast, Stuart, Florida
• Area Pro Realty East Bay, San Ramon, CA.
• Area Pro Realty Mount Diablo, Clayton, CA

If an Alamo home search is in your future the following market statistics and conditions are encouraging.

Active Listings = 133

Total Pending Sales = 29

 - Pending Short Sales = 11

 - Pending REO (bank owned), = 1

 - Pending in Last 30 Days = 15

Months of Inventory (Active Listings divided by pending sales in last 30 days), = 8.86 months of inventory.

Sales in the upper end market seem to be doing well compared to other areas here in Contra Costa county. Alamo has always been a desirable area so those that can afford to move up are doing so.

If you are in the market for an Alamo home now is the time to make your move before interest rates begin their enivitable climb. Jumbo loans are now available at interest rates far below where they were at the beginning of this year. For more information about Alamo and available properties give me a call or shoot me an email to start your Alamo home search.

Do you have any buyers for the San Ramon, CA area? If yes, stop by my open house this Sunday, August 2nd between 1pm and 4pm. This is a fantastic home with over 1/2 acre, RV parking, 3058 sq. ft. single level home. For more information visit the properties web site here.

http://909regencycourt.epropertysites.com

As I was getting ready to write this blog I realized I had no interest at all in what I was goint to blog about, after all, it's Monday. I should be blogging about a new listing and the low ball offer we received after just one day on the market.

But... I would rather talk about the great time I had this last Sunday. You see, I like to ride motorcycles, I like to ride them as often as possible. In fact the more time on a bike the better.

I swear I'll take the camera next time because you just won't believe how absolultely beautiful the California coast was.  Myself and two friends rode from the east bay over the San Rafael bridge. We took Lucas Valley road through the country to Highway 1. Rode north to Tomales bay and stopped at Tony's on the water for BBQ oysters. Man where they good! Stopped for gas and met two other bikers from South Carolina. They were on a road trip across country to S.F. then north up Hwy 1. They were eventually going to end up in Sturgess before heading back home. Very nice people come from S.C.

The weather was perfect, fog was just on the coast enough to need a jacket. The ocean is fantastic and Hwy 1 winds it's way up the coast line. We went north to Stewarts Point. There is a road heading east from Stewarts Point that looks a little sketchy, always claimed I would take that route someday. Sunday was the day. What a great 47 mile ride through the wilderness to Healdsburg. We didn't get home until after 7pm.

BTW - We did counter the offer, was countered back and generated a counter to that counter. We'll see what happens in the next day. 

Just a sidenote; one of the other bikers riding with us was the home owner for the listing.

It's was a wonderful life until Monday roled around.

I spent Sunday riding around Alamo, Ca to see what's happening in the housing market. What I saw during my Alamo home search was nothing less than a market correction still playing itself out. As I'm sure you are aware, 2006 was the last year of the "booming real estate market". Some say the downturn started in 2005. As unemployment (currently 12%), continues to rise in California, even more homes will be put up for sale, most not voluntarily. 

Let's compare last months market report (June/17/2009), with the current market data to determine the direction of the market, up or down.

Status                                          June                          July

Active                                  132                     142

Pending (last 30 days)            14                        7

*Months of Inventory            13.2                   20.3

*Months of inventory is determined by dividing the number of pending sales in the last 30 days into the number of current active listings.

The number of active listings has increased about 9%, but the number of properties that went pending decrease by 50%, which was a slow month.

I don't enjoy reporting on poor  market performance but as a real estate agent and broker I must always be honest with my clients and the public.

If you need to sell your home, visit 10 homes for sale in your area that compare to your property. Grab the property brochure and start making notes about the good, the bad, and the ugly. Now go home and view your property just like a buyer would. Compare your home's features, location, condition, etc., with the 10 homes you just visited.

If you were in the market to buy a home in Alamo, would it be your home or one of the others? Let's suppose you selected your current home for whatever reason, how much would you offer? This is an exercise you really should perform as correctly pricing your home in this market will guarantee your home is sold when so many are available.

On another note, I have a listing coming on the market this thursday in San Ramon, view the property site here. http://909regencycourt.epropertysites.com

We offer assistance to commercial building owners having trouble making the loan payment because of economic conditions. To obtain your free loan consultation simply go to http://www.geneward.com/?q=loan+mod and fill out the contact information form.

Many businesses are struggling to meet their obligations on their commercial real estate loan. The staggering number of defaults have influenced many commercial lenders to start renegotiating the terms of commercial mortgages.

Our team of well-trained professionals specialize in commercial loan workout solutions.

We are committed to our clients and their loan modification needs. Our strong work ethic and persistence are the reason we get results. The organized and efficient back office strategy we implement has literally saved commercial property owners from bank foreclosures and has helped these owners become cash flow positive.

Commercial Loan Modificaton Services

This is a sneak preview of a San Ramon, CA estate home that will be coming on the market in the first week of July. It is not yet on the MLS so if you are a real estate agent please don't try to show yet. Call agent for more information.

This home is in the San Ramon, Ca neighborhood of Old Ranch Estates. There is no HOA or assoicated dues and rules. It's one of the only detached single family home neighborhoods built in the 80's in San Ramon that doesn't have an HOA.

The current owner kept an eye on this neighborhood for several years before they purchased this unique property. The side yard access and RV pad were big selling points. Custom estate fencing was added to sheild the RV from the street. This lot is .56 acres, mostly flat, fully fenced and abuts open space at the end of a cul-de-sac.

View the online property website for photos and additional information.

http://909regencycourt.epropertysites.com/?refid=consolidated.data.base

While checking on the housing market conditions in Alamo, CA I used Google base to search for "Alamo foreclosures and REO properties", there were 20 listed. I used realty.trac and found 17, which is correct? Not sure but the numbers below still paint a bleak picture for this upscale community of Alamo.

17 Bank owned

43 in Default (pre-foreclosure)

6 Trustee Sale properties in Auction.

From the MLS:

132 active listings. (That's the most I've seen in over 10 years.)

14 Pending Sales (Just 10 went pending in the last 30 days)

132 divided by 10= 13.2 months of inventory.

With 13.2 months of inventory I would say it's definatly a BUYER'S market.

I thought we would be on our way out of this mess by now but I'm not sure anymore when that will happen. So if you have a home for sale, or thinking of selling one, you have a lot of competition, be prepared to negotiate everything.

Is this a good time to buy? Maybe, depends on where you think the bottom is. If you're thinking of buying a home and you have a secure job or business and need to move or want to move up, go for it. Take on one of those bank owned properties, or a short sale, you're bound to get a pretty good deal.

So... How is the Alamo CA housing market doing today? With all the talk about the big increases in housing sales here in California you might assume everything was great, right? Well in Alamo and the surrounding communites of Danville, Blackhawk, San Ramon and Walnut Creek you would be wrong.

The Alamo, CA community has not seen a single family detached home priced below $600,000 since way back in 1996/97. I was doing my Alamo Home Search this weekend and found a home priced at $625,000, granted it was very close to the freeway and on a busy road but still, it's a detached home with a 1/2 acre lot. It is not a fixer and had many fine upgrades. When and if an offer is presented on this house you can be pretty sure it will be closer to $600,000, less than the asking price.

There are 116 homes listed in Alamo as of today. Just a few years ago the average number of listings was between 40 and 60. See the charts below for Average Days on the Market and Months of Inventory. As these charts go back two years they graphically tell a story. So why are these previously sought after Alamo homes languishing on the market?

There are a few good reasons...

1. Interest rates on loans exceeding the FHA conforming limits start around 6.7%, This rate requries at least a 20% down payment and an excellent credit score. In comparison, conforming loans can be found today under 5% with as little as a 3% down payment. And if it's a jumbo loan you'll need to find a bank willing to lend.

2. Jobs - Even in the executive arena people are loosing their jobs. No job, no money to pay the mortgage.

3. Option Arms and Alt A loans in default. Many of these currently listed Alamo homes that are either in foreclosure or REO bank owned were purchased between 2002 and 2006, when prices were at their peak and the banks were lending to anybody with a breath. In fact, I'm not sure breathing was even a requirement!

Is it going to pick up anytime soon? That's the $64,000 question and the answer is directly related to jobs and interest rates. If the government keeps printing money interest rates will most certainly rise. If businesses can't borrow money job growth won't happen. It all depends on our current batch of leaders and how they handle the current problems. If they do a good job we'll come out of this sooner rather than later. If they get it wrong, all bets are off. But if you are in a position to buy a home in Alamo, now may be a great time. Prices and interest rates are low but no one knows for how long. Find a great agent with knowledge of the market and proceed with caution.

Average Selling Price for Detached Single Family Homes

Average selling price, since 1983, for detached single family homes for the towns of Alamo, Blackhawk, Danville, San Ramon and Walnut Creek, California, with corresponding inserted interest rate chart.

I've charted and graphed price changes for the last 25 years in these areas. It's interesting to note that if you were to project a line at an angle aligning the most stable years you'll see we're still about 25% higher now than we should be, but that's just my opinion.

Take a look at the interest rate chart which goes back to 1963. Current interest rates are exactly the same as they were in 1963. This is a historic low for interest rates but hang onto your hats, it's going to be a bumpy ride.

Also note how high the interest rates were in the late 70's, early 80's. If you're old enough to remember, and I am, that's the last time the government tried to control the free market economy (Jimmy Carter years).

National Average Mortgage Contract Interest Rates

To put the current mortgage interest rates into perspective see the mortgage interest rate chart below. These rates start in 1963 and go through 2008. This chart confirms that we are experiencing historically low mortgage interest rates.