Jean's Jingles

Is Dolly in Your Backyard?

2008-07-22T22:53:11Z

I live in the San Francisco Bay area and have never been through a hurricane! Knock on wood but are earthquakes are few a far between! I have been watching the news and see that hurricane Dolly may be creeping up on some of our Active Rain friends and others. I am concerned for them! My prayers are with you and let us know how you all are doing!

Be Sure You are Handsfree in California!

2008-07-01T22:11:51Z

Well! Today was the first day of California's new cell phone law! The California Highway Patrol were pulling some people over and giving them tickets. One man thought it was strange that a CHP was driving slowly next to him on the freeway telling himm to pullover. He then yelled "crap" the new cell phone law! The ironic part is that his wife purchased a handfree device for him and he left it in his other car, a Navigator that costs $200 to fill up the tank. He had purchased a used small car that gets good gas mileage and forgot about his handsfree in the other car. Another man was crying talking on his cell and begged the CHP officer to not give him a ticket because he just lost his father and was discussing the matter with a family member. the CHP officer said he didn't want to be cold hearted but here is a man distraught, crying and on his cell weaving all around on the highway possibly causing an accident big time. Another lady screamed and yelled at the officer and made faces at him after giving her a ticket!

Other states will be putting this law into affect soon and today it is also a violation as of today! If you are showing property or travelling in California, beware, do not use your cell phone while driving unless you have a handsfree device!

For All You California Realtors!

2008-07-01T16:53:52Z

I just received a message from my local MLS a(I sit on the committee), that the Rules are ready for review regarding the Statewide MLS. Some agents are in favor of this new MLS and others are very apprehensive about it. The agents who do not have a positive view point about it generally do not have all the facts about the system and therefore attack before gaining knowledge. Out of fear and possibly losing control, I do know that many local MLSs do not give out the information on the Statewide MLS to their members! I am in favor of this new MLS even though I sell in a small town where agents for the most part are against the new service .

See for yourself and ask questions of your local MLS. Receive all the facts before you decide whether or not it may be a positive move for your business. You can also give input to CAR, mlsinput@car.org on how you feel!

What is the Best for Business???

2008-06-29T22:27:17Z

I am finally giving in and need to purchase a new laptop! I have so many errors coming up that I cannot download photos of my listings anymore, I had to use a friend's computer! The cap to the period fell off months ago and I worked around that by copying and pasting the period or using , & -! I have been researching Dell's XPS and friend told me about the Apple that also has the convertability of the PC program-I am no expert and most of the real estate software and my MLS is not compatible with Apple! Does anyone have knowledge of the Apple and what computer do most of you use?

Thanks for the help!!

I Thought You Might Like to Use this Too!

2008-06-14T10:54:06Z

Once in awhile I come across some good images that I can use on my websites and other sites that I have for marketing. My friend Michael Tessaro is an NAR director and sent me this image to use. I have placed it in my Outlook signature. I thought you might like to use it too!

If You Agree****

2008-06-14T10:43:25Z

A couple of times a month our Public Affairs Director David Stark of the Bay East Association of Realtors in Pleasanton CA sends out emails to the members of our local association. He is always on top of the latest local, state and national issues. I think the information below is important and I wanted to send it out to the AR community. This is information comes from NAR.

Loan Limit Increase Call for Action: Want to make the higher conforming loan limits permanent? Please respond to the Call for Action recently issued by NAR urging the Senate to accept the higher loan limit provisions which are part of H.R. 3221.

Earlier this year Congress passed the Economic Stimulus Package which included one-year increases to the conforming loan limits. While the increased limits has helped the real estate market, it's taken several months for Fannie Mae, Freddie Mac and the FHA to implement these changes. Plus, these changes are set to expire at the end of this year. Making the increased loan limits permanent will provide for more financing options for potential home buyers and inspire more sales activity.

NAR needs you to contact your Senator and ask them to make these changes permanent. Responding to the Call For Action is easy. Just click here, add your information and click "send this message."

How Would You Feel?

2008-06-14T00:54:59Z

I do not understand why people and the public think Realtors just sell homes for fun! Why can't they be loyal? How would they feel if it happened to them? I always treat people like I want to be treated and I care! Why don't they?

Yesterday my son's girlfriend's father called me and said he wrote an offer with someone else and it didn't get ratified and he asked me for advice on what he could do. Now I spend holidays with this family and had just written an offer for his other daughter 2 days prior to this call. I was kind of dumbfounded and told him that I could not help him in anyway because of the Realtor code of ethics. I then ended the conversation.

I received a lengthy email from his daughter with excuses as to why he used the other agent. The fact is that he didn't call the listing agent but had another agent from the company write the offer in hopes of getting a ratified contract before the property hit the MLS and he would not have to compete with other offers. The agent who wrote the offer stated that they would wait 24 hours before the property was placed in the MLS thinking he would get a ratified contract. It backfired on him because the seller now felt that the property was listed too low and he raised the price by $100,000 and was immediately placed in the MLS. My son came over and knew what had transpired and told his girlfriend that it was the wrong thing to do and her dad had nerve asking me for help. He also said the wife was sorry for what had happened.

To make a long story short, I responded to the daughter's email stating that I was upset, I could have written the offer too if he had called me and everyone knows that it is a tough market and this is how we make a living.

I received another email today from the wife stating more excuses that he is not a well man and has depression and was excited about this property. She said that she shelters him from issues and not to let him know about her email to me. I would have said nothing except they sent an email to me and I needed to say how I felt. The fact is that he is a controlling person, thinks he is always right about everything, the wife is an enabler and last year even his hairdresser sent him a letter telling him never to return for a haircut again. I responded to the wife's email in a very positive manner and said I was not angry and that I had to explain how I felt about the situation.

I am not angry but I know he knew what he was doing and I feel that he needs to take responsibility for his actions and the family should not be making excuses for all his actions that he does to people. I do not know what will happen, but I hope all will be well with us. I am just tired of giving out information, good service and helping others and then get slapped in the face sort of speak.

Has this type of situation ever happened to you? It is frustrating and thanks for letting me gripe!

Lose Homes and Pay More Tax

2008-06-08T22:40:20Z

Investors in second or multiple homes stand to be among the biggest losers from the housing downturn. That's because proposed mortgage bailout programs don't address second homes and investment properties. Many owners of multiple properties don't realize that investments they thought would help them build long-term wealth may in fact leave them in bankruptcy and facing a sizeable tax debt.

MAKING SENSE OF THE STORY FOR CONSUMERS

Homeowners who borrowed against the value of their second home, or who financed the purchase of their second home and subsequent homes by pledging their primary home or other properties as security, may be liable for taxes on the difference in value should they sell any of their properties for a price less than the value owed on the mortgage.
Under the Mortgage Forgiveness Debt Relief Act, a homeowner doesn't have to pay taxes on forgiven debt if the collateral behind the mortgage is owner-occupied. That provision doesn't apply to a growing number of homeowners renting out their second home or investment property. Of some 7.5 million vacation homes, only about 10 percent are considered owner-occupied, according to the NATIONAL ASSOCIATION of REALTORS® (NAR). Many of these homeowners borrowed against the ever-increasing (or so it seemed) value of these properties to finance improvements or to buy other properties.
There may be a way out for some, one bankruptcy lawyer counsels: Get a lender to agree that foreclosure "fully satisfies all obligations under the loan." That might protect the seller from having to pay taxes on the forgiven debt - although one attorney said, "I sure don't want to be the one litigating it" in court.

To read the full story, please click here:

http://www.nytimes.com/2008/05/30/business/30tax.html?th&emc=th

I am Fed Up with Rising Gas Prices!

2008-06-08T22:35:28Z

I am sick and tired of the gas prices going up and up! Everytime I pass a gas station I get infuritated and feel the govenment needs to do something! Chevron and others have major profits and the CEO's keep getting raise after raise at our expense! I just passed a Shell station the other day and it has been totally demolished, the sign on the chain linked fence said "Coming Soon! A larger new station and mini store!" Here is an article about six fixes for high gas prices! I am not so sure it is a fix!!!

Great News for NAR! Reached an Agreement with DOJ

2008-05-27T16:15:08Z

NAR AND DEPARTMENT OF JUSTICE REACH SETTLEMENT

Washington, D.C. (May 27, 2008) - NAR and the U.S. Department of Justice have reached a favorable settlement, concluding a two-year DOJ investigation followed by two and half years of litigation regarding NAR's multiple listing policy pertaining to the display of listing from the MLS on brokers' virtual office Web sites, or VOWs. This will be a story reported throughout the news media today.

The settlement terms are favorable for NAR. We settled with the DOJ without financial penalty or admission of guilt.

The terms of the proposed final order validate NAR's position - that MLS members must be actively engaged in real estate brokerage by actually helping people buy or sell homes. This will ensure that MLSs are used for what they were originally intended to do - to help real estate professionals find buyers for people who want to sell their homes.

It is likely that the DOJ will communicate this settlement as a victory for them and affirmation of its long persecution of Realtors^®. This could not be further from the truth. NAR remained fully prepared to litigate the provisions of the VOW policy that were challenged by the government. However, the terms of the settlement are clearly in the best interests of NAR's members and the consumers they serve, allowing the association to focus on finding ways to help Realtors^® re-energize and strengthen the housing market for the long term, for their clients, customers and fellow community members.

Media Strategy:

Don't call reporters. No need to be proactive and alert the media. NAR Public Affairs is prepared to implement a detailed communications strategy.
Do respond if called upon; or refer call to NAR Public Affairs (202/383-7515). By participating in the story you can deliver pro-Realtor^®messages and demonstrate to your members that you are on top of the issue. If you avoid questions, you can be assured that our opponents will dominate the coverage.
Be prepared. Review the talking points below and prepare your own. Complete information is available at www.realtor.org/DOJ.

Media Tips:
Should you receive a call from a media outlet regarding this event, here are some tips to help you handle the call.

Don't overreact. There is no reason to make the story bigger by indicating concern.
Stay on message. Bridge from a negative question to deliver a positive message.
Everything is on the record. All that you can say can be included in the story.
Don't speculate. If you aren't familiar with the issue, it's OK to say so.
Refer calls to NAR. NAR Public Affairs stands ready to handle any media inquiries you may get.

Settlement Overview:

Strengthened Membership Rule:
The settlement permits MLSs to adopt a more stringent criterion for brokers seeking to be participants in an MLS. Instead of merely possessing a broker's license, participants must be actively engaged in real estate brokerage by actually helping people buy or sell homes. This will ensure that MLSs are used for what they were originally intended to do - to help real estate professionals find buyers for people who want to sell their homes.

Revised VOW policy:
The final order requires that NAR adopt a revised Virtual Office Web site policy, and that NAR request MLSs adopt the new policy within 90 days of the court's approval of the parties' agreement, expected by late summer. NAR has agreed to these revisions, which continue to protect the rights of sellers who do not want their property or their property's address displayed on the Internet. The new policy also protects sellers from having false or other unwanted information about their listings appear on the VOW site of members of the MLS, and allows sellers to object to additional features near the listing. The revised policy also includes provisions confirming the opportunity for participants to use vendors to operate their VOWs for them.

Impact:

The resolution of this litigation fills the void in MLS policy created when the suit was filed challenging the VOW policy. MLSs and their participants will now have a policy to guide the use of MLS listings by brokers on their VOWs. Most consumers do not use VOWs because these sites require online registration. Today's consumers can find sites throughout the Internet on which to gather information without having to register their name and contact information first.

Be Prepared:

Realtors^® and Realtor^® associations should be ready for the potentially negative or controversial news stories starting as early as May 27, 2008. The following general talking points should help answer questions from members or reporters.

Talking Points:

NAR has negotiated a settlement with DOJ that benefits our members and the clients and customers they serve.
Although NAR was prepared to litigate the lawfulness of the VOW policy and rule governing MLS participation, the terms agreed upon are clearly in the best interest of NAR members.
NAR did not admit any wrongdoing.
Now that the lawsuit has been resolved, NAR can focus on looking ahead to continue to find ways to help members re-energize and strengthen the housing market for the long-term, for their clients, customers and fellow community members.

NAR's efforts are focused on re-energizing the housing market - that's what matters most to consumers.
Realtors^® are lobbying lawmakers and regulators at all levels of government to enact and implement public policies that will stimulate the housing market.
NAR believes that it is time for Realtors^®, regulators, policymakers and other leaders to work together to improve the housing market and strengthen the economy.

NAR has always encouraged innovation and competition in real estate brokerage, and favors no business model.
The real estate industry is dynamic, entrepreneurial and fiercely competitive. The agreement restates our commitment to consumers and to maintaining one of the most competitive marketplaces in the world.
NAR members represent almost every conceivable business model, including full-service, limited-service, discount models, and others. About one in eight Realtors works for a business model other than a full-service firm.

In this market, the value of Realtors^® and the services and resources they provide, including the MLS system, has never been greater.
The DOJ agreement implicitly acknowledges the important role played by the more than 800 MLSs across the country that help make buying and selling a home easier.
The agreement strengthens the MLS system, and ensures that MLSs will continue to be a vital tool for broker-to-broker cooperation and compensation as they have for more than 100 years.
Consumers will continue to be able to access and view listing information on the Web site of their broker of choice.

Additional Messages:

Multiple Listing Services are a powerful force for competition.
MLSs enable small brokerages and new entrants to have the same access to this information as large and established ones. They make it easy for sellers to reach buyers and for buyers to find the right property. The American MLS system is so successful that many foreign countries are now establishing MLS systems based on the U.S. model.

The real estate industry has been effectively harnessing the Internet for years, to the benefit of sellers and buyers alike.
No other industry in the world has virtually its entire inventory online at one site, but you can find more than 2.2 million homes for sale at www.realtor.com, which has 7 million unique visitors each month.
The industry has made a multimillion dollar investment to create the infrastructure and systems to put millions of properties online through the MLSs. You can't shop for property in your bedroom slippers in most other countries like you can in America.

Realtors^® are industry innovators - they're some of the greatest entrepreneurs in America.
We're always looking for innovative ways to provide the services real estate consumers want.

Questions and Answers:

Critics say the real estate industry is a cartel. What's your response to that?
The real estate industry is highly competitive and entrepreneurial. Today consumers can choose from 1.2 million Realtors^® and a variety of different kinds of companies and business models, including discount brokerages and fee-for-service brokers.

Do Multiple Listing Services discriminate against brokers who operate VOWs?
Absolutely not. Multiple Listing Services are a powerful force for competition. The MLS enables small brokerages and new entrants to have the same access to this information as large and established ones. They make it easy for sellers to reach buyers and for buyers to find the right property. The American MLS system is so successful that many foreign countries are now establishing MLS systems based on the U.S. model.

Has the real estate industry opposed innovations that would lower costs to consumers?
The real estate industry has been effectively harnessing the Internet for years, to the benefit of sellers and buyers alike. No other industry in the world has virtually its entire inventory on line at one site, but you can find more than 2.2 million homes for sale at www.realtor.com, which has 7 million unique visitors each month.
The industry has made a multimillion dollar investment to create the infrastructure and systems to put 2 million to 3 million properties on line through the MLSs. You can't shop for property in your bedroom slippers in most other countries like you can in America

Kick Up Your Metabolism!

2008-05-26T21:14:20Z

Want to lose weight! I KNOW, I KNOW you have tried everything! I do not believe in diets or fads. I think Weight Watcher's is a good and I know that breakfast is the most important meal of the day. I also realize that we need to get our metabolism up in order to burn calories! Below is information I received from Jenny Craig and it is fairly easy to follow.

Like a car, you need to fuel your body efficiently and stay tuned up. Keep your metabolism running well with a good balance of food and activity. Use this formula to determine your daily recommended calories:

1)	Calculate your Resting Metabolic Rate (RMR). Women: (9.99 x weight in pounds x 0.4535) + (6.25 x height in inches x 2.54) - (4.92 x age in years) - 161 Men: (9.99 x weight in pounds x 0.4535) + (6.25 x height in inches x 2.54) - (4.92 x age in years) + 5
2)	Incorporate Activity Rate: Sedentary (sitting most of the day) - RMR x 1.1 Lightly active (slightly active but not involved in regular exercise) - RMR x 1.2 Moderately active (active for 30 minutes 5 times per week) - RMR x 1.3 Very active (active for at least 60 minutes on 5 days or more of the week) - RMR x 1.4
3)	Total = # of calories you eat everyday to maintain your current weight
4)	Cut back 500 calories a day to lose 1 lb a week (1 lb = 3500 calories)

Frustrated Again!

2008-05-25T20:18:10Z

I do not know about you but I am getting very tired of the media not giving out good information regarding the market in my area! They paint a picture of buyers being able to get great deals on properties by making low offers!

I have three buyers who think they can lowball on properties and actually get the offer accepted. I had one buyer just call me to inquire about a cute detached single family cottage and the listing price is what one can get for a one bedroom condo. I told her that it is a short sale and has two offers that have not been submitted to the bank yet. Her response was that I want to pay less than list price. The other couple I have been working with argue with me that the banks do not want to keep the properties so they will negotiate. WRONG!! I have a third buyer in which his offer has been submitted to the bank. The competing buyers backed out and we are the only offer. He offered $250 over asking. He lost an REO with 5 competing offers and couldn't understand why his $20,000 below asking price offer didn't get accepted! He was putting 30% down and thought that would do it!

A majority of these listings are receiving multiple offers and the buyers do not get it! I keep telling these buyers that the homes are on SALE (sellers paid around 50% more for these properties) and even paying a little more than asking price is a deal. Interest rates are still low. They are all pre-approved by lenders.

I just needed to air my frustrations again! Thanks for listening!!!

What is Your MLS Rule?

2008-05-22T19:04:05Z

Much has been said about NAR's recent mid-year meetings. The one thing I haven't seen is the change in the model rules for multiple listing services. Here is the change that NAR has made regarding short sales:

In changes to the association's multiple listing issues and policies, new MLS model rules enable practitioners to alert one another to potential short sales and put them on notice about the sharing of any reduction in gross listing commission required by a lender. MLSs are given the authority to decide whether or not their participants have to disclose reasonably-known short sales.

Another MLS policy change gives MLSs discretionary authority to enable participants to offer cooperative compensation through the MLS as a percentage of the net sale price. The net sale price is the gross price minus buyer upgrades in new construction and seller concessions.

Plaxo!!!

2008-05-20T23:48:08Z

I just received an email stating that Comcast just signed and agreement to purchase Plaxo! Plaxo is the nation's leading provider of entertainment, information and communications products and services. Plaxo will remain an independent brand, organization and entity. For Existing users all will remain the same and Comcast will continue to improve and evolve with the system. They will continue to be a strong advocate for the open social web. Comcast has put together a quick Q&A about privacy and data information. Check it out!!

What do You Use?

2008-05-19T21:17:50Z

I changed real estate offices in December and now find myself working more out of my home. The best thing I ever did was sign up for fax2email. My state association has partnered with Premier Global Services and Realtors receive a discount with this company. It is approx. $7.50 a month for 350 pages. I no longer have to deal with scanning!

Do you belong to a similar service and what are your costs?

This Upsets Me!!

2008-05-16T15:32:24Z

WOW! I cannot believe how people think they can get away with fraud! In Los Angeles, a 40 year old woman scammed black investors in 3 states, California, Nevada and Georgia. She scammed hundreds of these investors for over $18 million dollars. She convinced these investors to to invest in her company and said the money will be used to help homeowners keep their homes that were about to default! I get very upset with these kind of crooks! Read All About it

The Latest on California's Statewide MLS

2008-05-14T23:43:37Z

CALIFORNIA MLS HOLDS FIRST BOARD MEETING, APPOINTS BOARD CHAIRMAN
The statewide MLS approved by C.A.R. has been formed and held its first board meeting May 1. Called the California MLS (CALMLS), the entity adopted bylaws and MLS Rules, and approved a Request for Proposal from MLS vendors for the computer system operating the statewide service.

In addition, Mike Silvas, a well respected broker-owner from the Napa area, was elected as the CALMLS chairman of the board. Silvas will be leading the implementation efforts of the CALMLS going forward, which some have called one of the most important and ambitious efforts by C.A.R. to benefit Association members.

The selection process for a vendor or multiple vendors will take place in June of this year. Sixty one MLSs and AORs have sent in letters of intent to be part of the new statewide MLS. There are 70 MLSs in California. While there have previously been several laudable efforts to consolidate and share data in the state, the CALMLS is the only proposed MLS that anticipates complete statewide coverage either by local associations or MLSs using it directly as their primary system, or by them joining under the hybrid model which allows MLSs to access the benefits of a statewide system while maintaining a separate system. FOR MORE INFO

I know that some agents do not understand why CAR directors voted overwhelmingly to have CAR provide one MLS. 1. Right now the brokers of large companies must belong to multiple mls's in order for their agents to conduct business and this is very costly for them. Agents are not allowed to join an MLS unless their broker is a member.

2. We have to understand that some of us work over borders in which there is a different MLS. We should not have to pay for more than one MLS to do business and make a living. At one time because of political reasons, one MLS split and I had to join 2 MLS's because I worked in a city 10 minutes away that was part of another MLS. We all need to care about the needs for all agents not just our needs.

3. Even though recently a few MLS's are data sharing, that results in issues such as different rules, reports, access to different CMA's etc; in which they all should be the same. It also becomes an issue with ethics and other violations. Some MLS's are making a profit at the expense of their agents, others are non profit and in years past have reduced members fees and are looking out for the interests of their members

We should all get involved if we do not like what is going on and get the all the information to then make wise decisions.

California Realtors!! Hot off the Press Statewide MLS info

2008-05-13T23:32:00Z

Here is the latest update on the California Statewide MLS!

CALIFORNIA MLS UPDATE: The new California MLS (CALMLS) had its first board of directors' meeting May 1, 2008 and made significant progress. Mike Silvas, a well respected broker owner from the Napa area, was elected as the Chairman of the Board. The directors approved its initial bylaws based on the policy recommendations from the C.A.R. Board of Directors at the January meetings. The CALMLS bylaws will be presented to the C.A.R. board of directors for approval in June. The board also approved draft MLS rules that will be posted for comment and discussed at the C.A.R. meetings. These rules use the C.A.R. Model MLS Rules as their base but reconcile the local variances. It also includes a comprehensive citation policy which is based on many of the successful models in place in some areas of the state. Finally, the directors approved a comprehensive RFP to get a vendor for the statewide MLS. The CALML S board of directors will review these proposals in June and select a final vendor, or combination of vendors.

For more history or the most up to date information, including the bylaws and rules referred to in this update please see http://mlsinput.car.org or feel free to email comments to mlsinput@car.org.

Link to CALMLS Bylaws: http://www.car.org/library/media/papers/pdf/CA%20MLS%20Bylaws%205-6-08%20FINAL.pdf

Link to CALMLS MLS Rules: http://www.car.org/library/media/papers/pdf/CALMLS%20Draft%20Rules%205-6-08%20_LW_.pdf

Retrofit Required on California Properties!

2008-05-13T22:38:35Z

In the city of Alameda, we have a new point of sale! Not only does a seller have to test their sewer line on homes 25 years or older, if it fails must be replaced, the seller now is required to install a gas service shutoff valve prior to close of escrow. There are some other cities in California that require this retrofit too. Soon, it will be a requirement for all California properties. Below is some information from PGE that might be helpful to all California Realtors.

Manually turning off the gas service shutoff valve is the most common method to stop the flow of gas serving a building, or part of a building, in case of an emergency. Gas service shutoff valves are installed by PG&E at all gas meter locations or outside locations if the meter is not accessible from the outside.

Keep a 12 to 15-inch adjustable pipe wrench or Crescent-type wrench available to close the valve in case of an emergency. Earthquake wrenches with fixed openings may not fit a particular valve, so an adjustable type is best. To minimize the possibility of unauthorized operation of the valve, wrenches should be located nearby, but not at the gas meter location.
Shut off the gas service shutoff valve only if you smell gas, hear gas escaping, see a broken gas line, or if you suspect a gas leak.
To shut off the gas, rotate the valve a quarter turn in either direction; the valve is closed when the tang (the part you put the wrench on) is crosswise to the pipe.
In addition, most gas appliances have a gas shutoff valve located near the appliance that lets you turn off the gas to that appliance only. Know which of your appliances use gas, and where the appliance gas shutoff valves are located. In some cases, turning off the gas at the appliances shutoff valve will suffice.

Automatic Gas Shutoff Devices

Some cities and counties have regulations that require the installation of automatic gas shutoff devices, which may include excess flow gas shutoff valves and/or earthquake actuated gas shutoff valves. Regulations vary, but generally apply to new building construction, or significant alterations or additions to existing buildings. Check with your local city or county agency to see if regulations apply in your area.

If a customer installs an excess flow gas shutoff valve or earthquake actuated gas shutoff valve, it should be one that is certified by the State of California and it should be installed by a licensed plumbing contractor in accordance to the manufacturers instructions. PG&E does not install or service seismic actuated or excess flow gas shutoff valves, or recommend specific contractors for customer applications.

The State of California is required to approve all excess flow gas shutoff valves and earthquake actuated gas shutoff valves used in the State of California. The State of California is required to approve all excess flow gas shutoff valves and earthquake actuated gas shutoff valves used in the State of California. A list of approved valves is available on the DSA Gas Shut-off Valves Certification Program webpage.

Excess flow gas shutoff valves and earthquake actuated gas shutoff valves must be installed on the buildings gas houseline piping (the gas pipe connecting your appliances to the gas meter) downstream of the utility point of delivery; i.e. after the PG&E gas shutoff valve, pressure regulator (if installed), meter(s), and the service tee. No attachments or connections of any kind are allowed on utility facilities prior to the point where the service tee connects to the gas houseline piping. Once installed, the valve must not obstruct the operation or serviceability of PG&E's piping, gas service shutoff valve, gas meter or gas pressure regulating equipment.

In the event that a gas service shutoff valve or an automatic gas shutoff device is closed, there may be a considerable delay before PG&E can turn your service on, but do not turn it on yourself. PG&E or another qualified professional should perform a safety check, restore gas service, and relight any appliance pilots, even if the closure was not caused by an earthquake.

Fuel Frog?

2008-05-13T12:26:46Z

I haven't looked into Fuelfrog but I find it to be very interesting! We all know how expensive gasoline is these days so this evening I am going to sign up! I found this on the CRS website.

Fuelfrog is a web service for tracking your gas mileage and cost-per-gallon trends which can provide insight into your empty wallet. Works great with Twitter too. ...

Has the Market Hurt Remodeling Activity?

2008-05-12T22:31:47Z

CRS recently send out this information about remodeling. It is quite interesting!

Remodeling activity held steady during the first quarter of 2008 after a 4 percent decline in 2007, according to the latest National Association of Home Builders' Remodeling Market Index (RMI). The index also shows that remodeler expectations for the coming quarter remain low. While some markets continue to perform well, many contractors are seeing smaller jobs and have a shorter backlog of business, which contributes to their low confidence.

NAHB chief economist David Seiders says he does not expect the remodeling market to recover any time soon. "The remodeling market continues to show weakness, following the downturn in the overall housing market. We expect there to be some further erosion in 2008 with a gradual recovery in 2009,"

Finally, the Stimulus Package is Working!

2008-05-10T00:14:32Z

I thought I would pass along the information below that I received from a lender in my area northern CA

Well it's about time! We have all waited patiently for weeks for the stimulus package to benefit our industry,and the time is finally upon us...Yesterday, the new Conforming /Jumbo loan limit began trading on the open market. In the past 7 to 8 weeks lenders have been making loans on the new program, but had been very conservative with pricing.Rates have been artificially higher on the new program by up to .75%, due to lenders not knowing the specifics of how FNMA was going to purchase these loans ... Below is a sampling of today's fantastic rates...

30 Year Fixed 5/1 ARM

5.750% 1.00pt 5.375% .625pt

5.875% .50pt 5.500% .375pt

6.000% 0pt 5.625% 0pt

*Eligible loan amounts from 417k to 729,750.

More Info on the Market

2008-05-09T16:31:47Z

I just wanted to share this information that was sent to me from Fidelity Title in Alameda, CA

Long haul is best way to look at home prices
SF Chronicle, Kathleen Pender
Thanks to Joan Black for sharing :-)

Thursday, May 8, 2008

The three most important things in real estate are duration, duration, duration.

If you bought a home in the last two years, it's very probably worth less than you paid.

[Search our database on the real-estate roller-coaster.]

But if you bought four years ago, you're probably still above water.

And if you bought eight years ago, you're almost certainly sitting on a tidy profit, assuming you haven't sucked every dollar of equity out of your home with a second mortgage or refinance.

Nationwide, home prices in February were nearly 15 percent higher than they were in February 2004 and almost 75 percent higher than they were in February 2000, according to a 20-city index tracked by Standard & Poor's/Case-Shiller.

OK, I'll admit that location is an important factor in real estate. The point I'm trying to make is that housing, like the stock market, is a long-term investment.

All the whining, headlines and public debate over home prices focus on the steep drop over the past year or two.

To be sure, these numbers are chilling.

In February, Case-Shiller's 20-city index was 12.7 percent lower than it was the previous year and 14.9 percent below its July 2006 peak. (Case-Shiller tracks resales of existing, single-family homes, not new homes or condos. Its 20-city index covers about 45 percent of the nation's housing market by value.)

Prices, on a year-over-year basis, were down in all 20 cities except Charlotte, N.C., which eked out a 1.5 percent gain.

"This the first time in recent history that we've had a national decline in housing prices," says Maureen Maitland, vice president of index analysis for S&P. "In the past, you may have seen this kind of a decline in a particular region, but another region would be going up."

Another troubling sign: The rate of decline has accelerated in the past few months, with some markets losing 3 or 4 percent in a single month, Maitland says.

What you have to keep in mind, however, is that the nationwide decline in home prices was preceded by 10 years of appreciation.

Let's not forget that in the second half of 2004, prices in Las Vegas were soaring 50 percent on a year-over-year basis. Anyone who thought that would go on forever spent too much time in the desert sun.

The 20-city home price index is now roughly where it was in January 2005, about 31/3 years ago.

Some cities have backtracked even further, some not quite as far.

Prices in the Bay Area and Los Angeles are about where they were in August 2004. Hard-hit Detroit has retreated to its August 1999 level.

Seattle, on the other hand, is back where it was July 2006.

Charlotte has lost just one month's worth of appreciation. Because it never really boomed like some cities, Charlotte has so far avoided a bust, Maitland says.

Long-term look

Compared with four years ago, home prices in most cities are still in positive territory.

Only three of the 20 metro areas tracked by Case-Shiller show losses since February 2004: Detroit (down 11.8 percent), Cleveland (down 7.5 percent) and Minneapolis (down 2.7 percent.)

If you go back eight years - to February 2000 - only Detroit is below water, with a 3 percent decline.

The other 19 cities are showing gains ranging from 7 percent in Cleveland to 118 percent in Miami. The Bay Area falls in the middle, with an eight-year appreciation rate of 70 percent.

Case-Shiller's Bay Area index is made up of Alameda, Contra Costa, Marin, San Francisco and San Mateo counties.

Median prices for all nine Bay Area counties from DataQuick show a similar pattern. As of March, the median price for all existing single-family homes was down 20 percent over the past year, but up 60 percent over eight years.

Even struggling Solano County, down 25 percent over the past year, is up 92 percent over the past eight. (For other counties, see chart.)

As bad as things seem today, they could get worse before they get better. While a national housing downturn is unusual, individual regions often face protracted declines.

Southern California suffering

The Los Angeles area suffered year-over-year price drops every month from November 1990 through September 1996, according to Case-Shiller.

The Bay Area endured a similar downturn from November 1990 through May 1994, followed by a shorter slump from May 1995 through May 1996.

Home prices, like stock prices, generally move in multiyear cycles. They often become extremely overvalued or undervalued before they turn around.

After the stock market crashed in March 2000, it took the S&P 500 index more than seven years - until October 2007 - to top its previous all-time high.

That's why stocks and homes should always be viewed as long-term investments.

Lynn Reaser, an economist for Bank of America, says the housing market "is likely to hit a low point probably this year. In terms of (new-home) production and sales, we should see some bottoming in the fourth quarter. But prices are likely to fall further in some of the overheated markets in 2009."

The simple problem is that home prices outstripped incomes and home construction outpaced new household formations. Until homes become more affordable and the population grows enough to fill up some of those empty houses, prices are likely to fall.

One indicator Reaser is tracking is the inventory of unsold homes.

At the current rate of sales, it would take about 9.5 months to absorb all of the unsold existing single-family homes on the market, Reaser says. Usually, it would take only 6.7 months.

For new single-family homes, "the current inventory equals 11 months' of supply versus a long-term average (since 1985) of 5.6 months," she says.

How soon this excess inventory can be soaked up depends largely on the economy and the availability of credit.

Maitland points out that cities with weak job markets will have a harder time turning their housing markets around.

On the Web: To see how home prices have changed in 20 metro markets, go to www.sfgate.com/webdb/ushomes/.

Timing is everything

An index of resale home prices in 20 U.S. cities is down sharply over the past year (through February) and since its peak

in July 2006. But it is still up over the past four and eight years.

Period	Change
Since peak (July 2006)	-14.8%
Since February 2007	-12.7
Since February 2004	14.9
Since February 2000	74.6

Source: Standard &Poor's/Case-Shiller

Putting Bay Area home prices in perspective

Prices for existing single-family homes in the Bay Area are down in all counties except San Francisco the past year. Prices are still up in most counties the past four years and in all nine counties the past eight years.

County	Price March 2008	1-year change	4-year change	8-year change
Alameda	$501,000	-20.7%	6.6%	67.0%
Contra Costa	409,000	-33.4	-2.6	66.9
Marin	862,500	-10.6	15.0	56.5
Napa	457,250	-20.5	-4.7	77.6
Santa Clara	684,500	-9.3	21.3	48.8
San Francisco	826,500	0.4	27.2	94.0
San Mateo	760,000	-5.7	16.9	52.0
Solano	330,000	-24.8	0.0	91.9
Sonoma	425,000	-22.4	-2.0	59.8
Bay Area	549,000	-20.4	9.8	59.6

Received This Article from Fidelity Title, What do You Think!

2008-05-08T11:14:43Z

I just received this information from Fidelity Title Company in Alameda! I tend to believe it is true as I am experiencing it in my area. I feel the prices will not drop any lower than what they are now! How do you feel about it?

Opinion

The Housing Crisis Is Over

By CYRIL MOULLE-BERTEAUX
May 6, 2008; Page A23

The dire headlines coming fast and furious in the financial and popular press suggest that the housing crisis is intensifying. Yet it is very likely that April 2008 will mark the bottom of the U.S. housing market. Yes, the housing market is bottoming right now.

How can this be? For starters, a bottom does not mean that prices are about to return to the heady days of 2005. That probably won't happen for another 15 years. It just means that the trend is no longer getting worse, which is the critical factor.

Most people forget that the current housing bust is nearly three years old. Home sales peaked in July 2005. New home sales are down a staggering 63% from peak levels of 1.4 million. Housing starts have fallen more than 50% and, adjusted for population growth, are back to the trough levels of 1982.

Furthermore, residential construction is close to 15-year lows at 3.8% of GDP; by the fourth quarter of this year, it will probably hit the lowest level ever. So what's going to stop the housing decline? Very simply, the same thing that caused the bust: affordability.

The boom made housing unaffordable for many American families, especially first-time home buyers. During the 1990s and early 2000s, it took 19% of average monthly income to service a conforming mortgage on the average home purchased. By 2005 and 2006, it was absorbing 25% of monthly income. For first time buyers, it went from 29% of income to 37%. That just proved to be too much.

Prices got so high that people who intended to actually live in the houses they purchased (as opposed to speculators) stopped buying. This caused the bubble to burst.

Since then, house prices have fallen 10%-15%, while incomes have kept growing (albeit more slowly recently) and mortgage rates have come down 70 basis points from their highs. As a result, it now takes 19% of monthly income for the average home buyer, and 31% of monthly income for the first-time home buyer, to purchase a house. In other words, homes on average are back to being as affordable as during the best of times in the 1990s. Numerous households that had been priced out of the market can now afford to get in.

The next question is: Even if home sales pick up, how can home prices stop falling with so many houses vacant and unsold? The flip but true answer: because they always do.

In the past five major housing market corrections (and there were some big ones, such as in the early 1980s when home sales also fell by 50%-60% and prices fell 12%-15% in real terms), every time home sales bottomed, the pace of house-price declines halved within one or two months.

The explanation is that by the time home sales stop declining, inventories of unsold homes have usually already started falling in absolute terms and begin to peak out in "months of supply" terms. That's the case right now: New home inventories peaked at 598,000 homes in July 2006, and stand at 482,000 homes as of the end of March. This inventory is equivalent to 11 months of supply, a 25-year high - but it is similar to 1974, 1982 and 1991 levels, which saw a subsequent slowing in home-price declines within the next six months.

Inventories are declining because construction activity has been falling for such a long time that home completions are now just about undershooting new home sales. In a few months, completions of new homes for sale could be undershooting new home sales by 50,000-100,000 annually.

Inventories will drop even faster to 400,000 - or seven months of supply - by the end of 2008. This shift in inventories will have a significant impact on prices, although house prices won't stop falling entirely until inventories reach five months of supply sometime in 2009. A five-month supply has historically signaled tightness in the housing market.

Many pundits claim that house prices need to fall another 30% to bring them back in line with where they've been historically. This is usually based on an analysis of house prices adjusted for inflation: Real house prices are 30% above their 40-year, inflation-adjusted average, so they must fall 30%. This simplistic analysis is appealing on the surface, but is flawed for a variety of reasons.

Most importantly, it neglects the fact that a great majority of Americans buy their houses with mortgages. And if one buys a house with a mortgage, the most important factor in deciding what to pay for the house is how much of one's income is required to be able to make the mortgage payments on the house. Today the rate on a 30-year, fixed-rate mortgage is 5.7%. Back in 1981, the rate hit 18.5%. Comparing today's house prices to the 1970s or 1980s, when mortgage rates were stratospheric, is misguided and misleading.

This is all good news for the broader economy. The housing bust has been subtracting a full percentage point from GDP for almost two years now, which is very large for a sector that represents less than 5% of economic activity.

When the rate of house-price declines halves, there will be a wholesale shift in markets' perceptions. All of a sudden, the expected value of the collateral (i.e. houses) for much of the lending that went on for the past decade will change. Right now, when valuing the collateral, market participants including banks are extrapolating the current pace of house price declines for another two to three years; this has a significant impact on the amount of delinquencies, foreclosures and credit losses that lenders are expected to face.

More home sales and smaller price declines means fewer homeowners will be underwater on their mortgages. They will thus have less incentive to walk away and opt for foreclosure.

A milder house-price decline scenario could lead to increases in the market value of a lot of the securitized mortgages that have been responsible for $300 billion of write-downs in the past year. Even if write-backs do not occur, stabilizing collateral values will have a huge impact on the markets' perception of risk related to housing, the financial system, and the economy.

We are of course experiencing a serious housing bust, with serious economic consequences that are still unfolding. The odds are that the reverberations will lead to subtrend growth for a couple of years. Nonetheless, housing led us into this credit crisis and this recession. It is likely to lead us out. And that process is underway, right now.

Mr. Moulle-Berteaux is managing partner of Traxis Partners LP, a hedge fund firm based in New York.

I'm Ending the Evening with This!

2008-05-08T00:53:03Z

I am ending the evening with these thoughts!

Oh sure, dreaming is the easy part! Thinking the shiny, sexy, happy thoughts. And so are the baby steps; moving with your dream. The hard part, is... Well, actually, choosing words that imply you're on your way is pretty easy, too... Pretending is easy... Gratitude, easy... Finding stuff to be happy about, easy...

Help me, I must be forgetting something. What's supposed to be the hard part?

Dream and sleep tight!!