lee ginsburg: Bay Area Homes Increase 20%??? - 04/04/10 12:30 AM
The headline reads Prices Up 20%.
What do these numbers mean? I am sorry to tell you, your home did not increase 20%. Buyers don't get scared off and sellers don't put your home on the market for 20% more than you paid last year.
These numbers are totally misleading. Prices are increasing in some areas and in some price points but not by 20%. Possibly 3-5%.
You can make numbers do whatever you want. First you need to know if the numbers are for Single Family homes or Condominiums or both. Then are they comparing it to the same month … (0 comments)
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lee ginsburg: Good News! Good Bay Area Real Estate News! - 03/27/10 08:25 PM
A lot of positive bills, thoughts and activities have been happening on the Bay Area Real Estate Front. I have been trying to write this for a while. Each time I sit down to write there is more I have to add to it. That is a good problem. So exciting! Enjoy the Good News.
Home Buyer's Delight You can still get the federal Home buyer credit of $8000 for the first time buyer or $6500 for the move up buyer. You must be in contract by the end of April and close by the end of June. For additional information: … (0 comments)
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lee ginsburg: San Mateo County Realtors Help Seniors - 02/17/10 09:45 PM
RSVP is Coming
May 3-7
Get The Word Out!
Register now at http://www.samcar.org/userfiles/file/RSVP10_homeownerAPP.pdf
WHAT IS RSVP?RSVP is an annual week-long community outreach program that takes place in May 3-7 during "Adopt-A-Senior" Week. Realtors of San Mateo County provides free assistance to seniors who cannot otherwise perform certain household tasks due to physical or financial constraints.
FREE HOME SERVICES FOR SENIORS & THE HOMEBOUNDWashing windows, changing furnace filters, turning over mattresses, vacuuming, changing light bulbs, replacing smoke detector batteries and other similar household tasks are just a few chores that Realtors will perform.The program is one way Realtors and Affiliates can … (0 comments)
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lee ginsburg: An Open Letter To Potential Home Buyer and Fence Sitter - 01/15/10 12:59 AM
Dear Home Buyer and Fence Sitter,
The window of opportunity is closing. Let me explain my thoughts. Prices in the Bay Area are already inching up, same with interest rates. The time to receive the Federal Tax Credit of $8000 or $6500 is rapidly approaching. (Must be in contract by April 30, 2010) FHA is talking about increasing the minimum required down payment and or increasing the cost of required mortgage insurance.
You can purchase a home today and your costs will be fixed for the next 30 years. What else can you buy and maintain the same cost … (1 comments)
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lee ginsburg: It's Working and Working Well!!! - 12/27/09 01:10 PM
You might ask, what is working and working well. I am speaking about the $8000 Home Buying Credit. A recent home buyer brought up the $8000 credit and told me that was the motivating factor for him and his wife purchasing a home. The termination date creates urgency and action. Low prices are motivating but not the cause of action. Many think they can time the market. Good Luck to them. People in the business think the lowest interest rates in 40 years should be creating urgency. It certainly makes people think but low rates is all many of these young … (2 comments)
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lee ginsburg: Are They Comaring Apples to Apples - 08/19/09 11:50 PM
When you and I purchase a new computer we compare the memory, the speed, the screen size: does it come with a camera, DVD player/recorder and more. A home the largest purchase most of us will ever make often is not reviewed with such detail by the people doing the lending and sometimes by the people doing the spending. Yes, they look at the square footage, the general condition, and the location. Appraisers often do not have any idea of the cost of section one termite repairs. The differential in repair costs could be 3%, 5% even 10% of the purchase … (0 comments)
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lee ginsburg: Buyer's Market??? - 07/20/09 12:45 AM
Buyer's Market? You bet it is. I will be speaking about the low end of each market area. On the Peninsula and San Francisco we talk about Single Family homes priced under $700,000. In the East Bay it is below $400,000. Buyer's Market yes but not in the traditional way. Today's buyer cannot expect to purchase a home for 20% off the list price, but they can expect to purchase a home 30-60% off of 2004 prices. Today's buyer cannot expect the seller to take care of all necessary repairs, but the buyer can expect to receive an $8000 Federal Tax … (0 comments)
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lee ginsburg: What Shall it Be? Loan Modificaiton? Short Sale? Foreclosure? - 06/16/09 02:27 AM
You are among the millions underwater and over stressed. What shall you do.
Your credit will be most negatively affected with a Foreclosure, then a short sale. As long as you stay current on your loan, loan modification should not affect your credit. Your credit score weather it is right or wrong is used by potential employers before hiring, landlords before renting, insurance companies before granting insurance and etc. Depending on your individual situation maybe credit is not important.
My client's father nearing retirement age could live in his son's rental unit and will not be looking for another … (0 comments)
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lee ginsburg: Old School Pricing Is Out and Price It Right Is In - 05/25/09 12:38 AM
Many sellers are determined to set their listing price higher than they are willing to accept so they have room to negotiate. With the New Millennium buyers they unfortunately will not get any offers. Today's buyers are more educated than any others. The internet gives the buyers the opportunity to research all public records. They know the price of all the homes in the area that sold recently and are on the market. They know the trends, the cost per square foot; they know what the seller paid for the home and how much they owe and sometimes the improvements the … (0 comments)
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lee ginsburg: One Buyer's Loss is Another Buyer's Second Chance - 05/06/09 02:01 PM
30% of Real Estate Deals Don't Go Thru. Maybe it is more, maybe it is less, but that is a pretty good estimate. So what does that mean to buyers and their agents? It means the property you lost out to in multiple offers or just because someone was faster than you does not mean it is gone forever. We all know that a ratified offer on a short sale means nothing until the lien holders agree. Many REO's and individual sales are falling through today. Many buyers, especially first time buyers get concerned when a property falls out of contract. … (0 comments)
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lee ginsburg: Every Negative Has a Positive!!! - 03/26/09 09:15 PM
Every Negative Has a PositivePositives of This Economy
•1. Bay Area Housing Affordability has gone from 16% to 38%
•2. Debt of Americans is Decreasing.
•3. A Large Increase in People Volunteering.
•4. A Large increase in Military Enrollment.
•5. First Time Home Buyers can get an $8000 Tax Credit.
•6. Buyers of California New Homes can get a $10,000 State Tax Credit.
•7. People are able to modify or refinance their loans to an affordable payment.
•8. Businesses have the opportunity to clean up their books and start fresh.
•9. Great Opportunity to Purchase a new car or any other … (0 comments)
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lee ginsburg: Top 10 Reasons to Purchase Bay Area Real Estate - 03/02/09 12:39 AM
Top 10 Reasons to Purchase Bay Area Real Estate in Today's Market
•1. Interest Rates are near 40 year lows. You can lock in your housing costs for the next 30 years if you buy not if you rent.
•2. Property Values are at 5 year lows. Some areas have declined in value as much as 60%. Bay Area Real Estate has a long history of recovering and appreciating.
•3. There is a large inventory of homes to choose from with Motivated Sellers. Individual owners and banks selling today must sell.
•4. Getting a loan today is not difficult. … (0 comments)
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lee ginsburg: Housing Stimulus Package -An Open Letter to Poloiticians - 02/09/09 09:46 PM
To Congress Woman Jackie Spier, Senator Diane Feinstein, and Senator Boxer
I am a local realtor specializing in San Mateo and San Francisco Counties Real Estate. I do not think the $15,000 Home Buyer Tax Credit in Economic Stimulus Package is making best use of the tax payers money.
First and Foremost to stop and slow down the hemorrhaging of the Real Estate market we must try to limit foreclosures, short sales and strive to keep the homeowner in the home. A very common situation is a homeowner with a $700,000 mortgage on a home with a $500,000 value … (0 comments)
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lee ginsburg: Help Children Buy A Home? Loan, Gift or Partner? - 01/08/09 11:19 PM
As parents we all love our children and only want to help them. In the Bay Area parents almost have to help with a down payment. Do you give your children a gift or a loan? Is it better to be a co-borrower with them? Maybe be partners. If you help one child, you have to help the others. California is a community property state and that creates other issues. It is difficult to bring it up but more than half the marriages wind up in divorce and gifting child money to purchase a home is possibly giving your child's ex-spouse … (0 comments)
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lee ginsburg: Learning to Budget! Kudos To the Teacher!!! - 12/27/08 04:16 PM
As many of you are aware my Prudential office in San Bruno, Ca. is the largest single independent Prudential office in the country. We are very progressive and have kiosk is several of the regional malls in the area. As I had my shift just before the holidays, a young boy, I'd say about 12 or 13 was looking at some listings. I let him look for a while and then approached. He told me he was 30 years old and looking for a rental for his family of 4 with a $60,000 annual income. I did a double take and … (3 comments)
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lee ginsburg: Bay Area Real Estate - "The Perfect Storm" - 12/10/08 07:22 PM
Perfect Storm = Low Interest Rates, Low Prices, and Lower Inventory. We have all the ingredients.
If you have been waiting for prices to stabilize you are on the cusp of being late.
Homes in Daly City, San Bruno, San Mateo, San Francisco and South San Francisco are selling. To keep up with the demand Bank of America is falling behind on appraisals and is hiring outside appraisers. I spoke to a termite inspector yesterday. He had 5 inspections scheduled for the day. Need I say we did not speak long. There is a buzz in my office. Conference rooms are … (0 comments)
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lee ginsburg: Offer Prices - 11/13/08 10:53 PM
I have several buyers very confused. They offered the asking price for a Daly City home but were outbid by $50,000. This is not supposed to happen in a buyer's market. The low price is a marketing tool and not a realistic list price. I explained before making a purchase offer, buyers must determine the true present market value. http://www.pruvoices.com/2008/10/what-is-market-value/ They must do the same review as a seller. List pricing is all over the board today with short sales confusing everyone. Many of these short sales never sell. But they do confuse the market. Buyers should compare the market value … (2 comments)
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lee ginsburg: HOA Dues: Junk Fees or Good Budgeting - 10/16/08 11:23 PM
Many people are under the belief that paying the HOA Dues is like throwing money out the window. I am not sure so let's review the costs of Home Ownership that is covered under the HOA Dues.
The following costs are approximate present day costs for a 1200 square foot home and a 2 Bedroom Bay Area Condo.
Painting the exterior of a home will cost $9000 and has an expected life of 10 years. That comes to $900 a year or $75.00 a month
Roof and gutters will cost $12,500 and has an expected life of 25 years. That … (0 comments)
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