Ken's Blog

Not all cities are in the Doghouse...

Ken Glidewell (Pacific Union Real Estate) — Mon, 13 Jul 2009 17:15:39 -0500

I have been telling my Palo Alto clients that the city has seen an increase in pricing the last few months and finally the media has witten an article confirming what I had been saying.

See the link to the original article written by the "San Francisco Business Times"...

Palo Alto prices up in May '09, http://tinyurl.com/pv5wst

Sometimes it can be gratifying get reinforcement of your thoughts.

Thanks!!

For more information please email me at: kglidewell@pacunion.com or visit my website at: http://www.KenGlidewell.com

Palo Alto & Menlo Park, what is happening?

Ken Glidewell (Pacific Union Real Estate) — Mon, 18 May 2009 16:18:09 -0500

Along with San Francisco, I track home sales in Atherton, Palo Alto & Menlo Park, CA just to name a few.

And last week, several Menlo Park properties that had been on the market for some time, all went pending or sold.

In Palo Alto, a new listing came on and sold within 2 weeks with double digit number of offers and 200K+ over the asking.

Now I know many of you will be referencing the media's negative perspective of the real estate market. But I am telling you that there are parts of the Bay Area real estate market that are ignoring the downward conversation.

Be smart, this time of year families are wrapping up their current school year and preparing for summer vacations and the like. But they are also making home selling and buying decisions that will be in place before the next school year begins. So call your "professional" agent and get a real market perspective and walk away from people giving you uninformed analysis, like the guy at the deli counter.

Prepared by: Ken Glidewell for questions or a vendor referral just email me at: kglidewell@pacunion.com

or visit my website: http://www.KenGlidewell.com

Spring Home Maintenance

Ken Glidewell (Pacific Union Real Estate) — Tue, 31 Mar 2009 17:55:44 -0500

Well Spring is here. And before you get too busy going to soccer games, sailing on the bay or playing ultimate frisbee remember to pay some attention to your home.

Here is a checklist on a few spring cleaning items:

Clean your windows so the sun can shine in.

Pull out the pation furniture, rinse them off and check all the nuts and bolts.

Check the irigation system, don't want to waste any water.

Freshen up the garden with some new plants and flowers.

Have the carpets and area rugs cleaned.

Change the air filters in your furnace and air conditioning systems.

Clean out the gutters...one more time.

Now, go sailing!!

Prepared by: Ken Glidewell for questions or a vendor referral just email me at: kglidewell@pacunion.com

or visit my website: http://www.KenGlidewell.com

Buying property in 2009

Ken Glidewell (Pacific Union Real Estate) — Sat, 28 Feb 2009 20:39:50 -0600

I have represented alot of buyers in the last 18 months and I would like to take this time to share some of these simple but necessary experiences.

1. Buyers stay in constant communication with your preferred lender. As the market and economy transition it will be important to stay on top of very key elements like: interest rates, down payment requirements, terms and appraisal requirements. All can torpedo a deal in the most inopportune time, trust me.

2. Buyers please stay on top of the market trends as presented by your real estate agent. various districts in San Francisco are hot and others are dead. So make sure you are following the market closely so you can present the right offer and terms given the conditions you are presented.

3. Buyers stay focused and TRY to not get distracted with external influences that may cloud your judgement. This can be as simple as work issues, family medling, lack of sleep or just not eating properly.

4. Be realistic. The days of "no doc" loans are gone. Please take the time at the begining of the search process to realistically identify the correct price point that you can afford and if more than 4 months go by make sure you honestly re-evaluate this price point to stay on target. It is so critical these days.

Buying a home is a major business transaction and it should be handled accordingly.

For a "market update" give me a call or send me an email with the area you would like to have evaluated.

Ken Glidewell, kglidewell@pacuion.com http://www.KenGlidewell.com

SF Market Update 20090224

Ken Glidewell (Pacific Union Real Estate) — Tue, 24 Feb 2009 20:10:41 -0600

Today (Tuesday) is the weekly brokers tour day in San Francisco. Having gotten use to minimal inventory and over priced property.

I was glad to have observed that "today" there seems to be an incremental amount of new and reasonably priced properties on tour.

We are still at low inventory levels but at least there are now properties that have potential for a willing buyer.

Mark this date in your calendars!!

If you have questions or comments please email me at: kglidewell@pacunion.com or visit my website at: http://www.KenGlidewell.com.

SF Apartment Market Impacted

Ken Glidewell (Pacific Union Real Estate) — Fri, 30 Jan 2009 14:21:39 -0600

Just this past week, a major SF apartment landlord was reported to have given some 50+ apartment properties back to the bank. The apartment buildings reportedly represented about 1500 apartments in San Francisco.

My question is: Are other real estate professionals seeing similar activities in their cities or is this an isolated case?

If so what do you think the impact will be in your area with the overall rental market and condominium sales market?

Hang on we are in for a ride!!

For more information or details contact Ken at: kglidewell@pacunion.com

or visit his website at: http://www.KenGlidewell.com

Curious about the law...

Ken Glidewell (Pacific Union Real Estate) — Mon, 05 Jan 2009 16:40:41 -0600

Maybe I am experiencing a little business hangover but a business news channel just reported that Mr. Madoff was released to his home after a hearing on his 50 Billion dollar fraud case.

Now maybe my logic is askew but seems like the gentleman should be held in jail until his trial.

Seems like there is sizeable evidence to marginally conclude that he has committed this alledged fraud so why isn't he sitting behind bars?

I am baffled!! But how does the saying go, "Money talks and _-_-_-_ walks"... a new twist I would say.

Ken~

It's official, Bay Area real estate Slowdown...

Ken Glidewell (Pacific Union Real Estate) — Mon, 15 Dec 2008 18:37:49 -0600

Always the realist, I am know to be conservative in my calls but I think it is official, The Bay Area has hit its own real estate slowdown.

As near as I can tell, the full impact started in San Francisco & the Pennisula about November 10th. I know you are saying "duh" the country knew this months ago.

Well it really did not affect our market until recently and still there are districts in San Francisco that are still active and parts of the pennisula that are still growing in price per unit and sales. (can you say Palo Alto?)

National pundits are saying that the Bay Area was the last to get hit and will be the first to recover so if their prognosis is accurate then lets figure a second quarter turn for us to the upside.

Locally, I have been telling my buyers to get familiar with their targeted market so when we see a change then we can act accordingly. To me that means "snatch up some deals" before prices start rising again.

If you are an investor, think about 6-10 unit apartment buildings now. Because rents are holding steady and there are several local apartment owners who have over extended themselves.

Anyway, I wish everyone the best this holiday season, Happy Holidays!!

For more information or details contact Ken at: kglidewell@pacunion.com

or visit his website at: http://www.KenGlidewell.com

Getting ready for Winter: Ol' Skool style!!

Ken Glidewell (Pacific Union Real Estate) — Wed, 19 Nov 2008 19:24:23 -0600

It is a little chilly here in San Francisco today and I am not talking about the real estate market.

The cooler temperatures remind me that it is winter time in the balance of the country and what better time to make your home "winter ready".

Here is a short list of items to check before it starts raining or snowing where you live:

Check the rain gutters & roof for debris
Trim trees, bushes and gather leaves
Maintain plumbing pipes
Set a minimum temperature on your thermostat (I recommend 70 degrees but most experts say 65 degrees is minimal)
Check your water heater and wrap with insulation as necessary
Check insulation in attic, basements and crawl spaces
Make a list of qualified contractors for emergencies (plumber, roofer, handyman etc...)
Drain or service hotubs, pools and spas

These and other tips are available as a free service to my clients and friends.

Have a great winter!!

Ken Glidewell, kglidewell@pacunion.com

http://www.SFLuxuryProperties.com

"LinkedIn - Part Deux"

Ken Glidewell (Pacific Union Real Estate) — Mon, 27 Oct 2008 23:25:07 -0500

A month or so ago, I expressed my thoughts on using "LinkedIn", the professional social networking service.

Well this month I am again singing its praise. My 'network' has experienced a steady growth adding about 5-10 new connections per month.

I answer real estate questions asked by the audience of 30 million users and join real estate "groups" (and others) that I believe add value to my business. Like my alumni association and other social organizations I frequent.

Question: Are you getting any business from the site?

Answer: YES, 2 transactions with 2 more buyers currently looking for property.

Utilizing LinkedIn's "network effect" is very similar to a real estate person developing a "referral base". I think we all understand how valuable that is to a real estate agent's business.

Heck I am still using the free version but frankly with the traction I have been getting I am seriously considering buying the upgrade version. $20.00/mth is alot cheaper than the website, blog, open house ad's, postcards and all the other marketing efforts that I am paying for each month.

If you have not tried LinkedIn yet or are like some who just don't get it, I STRONGELY suggest creating a profile and start building your network today!!

Ken Glidewell, kglidewell@pacunion.com, http://www.KenGlidewell.com

Technology Book Recommendation

Ken Glidewell (Pacific Union Real Estate) — Tue, 14 Oct 2008 14:04:08 -0500

I recently got my hands on a new technology / business book and I must pass on my praises.

"Closing the Innovation Gap" By: Judy Estrin

When you get past the impressive resume of the author (current Board Member of Disney & FedEx) one will find a direct, clear and alarming expose of hopefully waking up the innovative society in America.

With recommendations from Bob Igor, Vint Cerf and Andrew Grove, I have no reservation in supporting this book.

I challenge all of us to support education and research from now until the end of time...

And you SHOULD read the book too!!

http://www.closingtheinnovationgap.com

Ken Glidewell - http://www.KenGlidewell.com

email me at: kglidewell@pacunion.com

GMAC Home Services acquired by Brookfield residential Property Services

Ken Glidewell (Pacific Union Real Estate) — Thu, 25 Sep 2008 14:42:11 -0500

The other day we were notified that our parent firm "GMAC Home Services would be acquired by Brookfield RPS, a division of Brookfield Asset Management".

My opinion: it seems that the transaction makes sense for all parties and they all have a vested interest in making it hugely successful.

I for one, look forward to what the future has to offer!!

Ken Glidewell

Pacific Union GMAC Real Estate

Inman Connect 2008

Ken Glidewell (Pacific Union Real Estate) — Thu, 31 Jul 2008 18:50:16 -0500

Last week I was in the midst of another "Connect" conference for real estate and technologists.

And what a week it was, reacquainting with past attendees, seeing the latest offerings of new technology companies and hearing what agents from across the country are experiencing.

Makes me think how lucky we are to live and work in the Bay Area. While I am working on another successful year my peers from other states are not having it so good.

A big take away from this year is how it seems the real estate industry while being "local" is evolving to a national and internationally influenced industry. Many of the new offerings reflect what is happening in Australia, London, Europe and even New Zealand. (There's your plug Alistair.)

Information and data are becoming more prevalent with bloggers and websites while syndication seems the popular movement of late. www.Trulia.com continues to provide new and interesting tools for agents and consumers alike.

Yes, I loved it and Yes, Brad ( www.Inman.com ) I will be back next year!! Oh, and Joel another great series of panelist for 'Bloggers Connect'. Thanks!!

Thanks for reading!! kglidewell@pacunion.com or http://www.SFLuxuryProperties.com

Are you "LinkedIn" yet?

Ken Glidewell (Pacific Union Real Estate) — Fri, 20 Jun 2008 15:08:39 -0500

That is the question!!

I have been using the professional networking site "LinkedIn" for a couple of years now and this weeks announcement by the company of a new round of financing reminded me to write about them in my blog.

As the real estate business becomes less 'local'. Yes, I said that!! It has become more important to expand your business/professional network in a way to expose potential buyers and sellers to your abilities in new and more internet savvy ways.

My use of 'LinkedIn' has proved beneficial in many ways. I have expanded my business network as well as met new people that have purchased properties thru me by way of their referral system.

If you haven't considered the service there is no time like the present to get started. Heck, its free!!

kglidewell@pacunion.com or at my website: http://www.KenGlidewell.com

Orange County Condo Tour

Ken Glidewell (Pacific Union Real Estate) — Fri, 09 May 2008 16:15:03 -0500

Last Friday I had the opportunity to tour three (3) condominium complexes who are under construction and are in the process of conducting "pre-sales".

3000 - The Plaza
Astoria - Central Park West
Skyline at MacArthur Place

Having toured some 20+ condo projects in San Francisco, I was looking to do a comparison of the overall project, amenities, pricing and sales techniques.

As my touring partner and I soon found out. Only one property had adjusted to the current Orange County market and acted that way. Maybe it was because the Director of Sales was more personable than the others or maybe it was just clear from my experience that the Skyline project was superior based on my tastes but I was really impressed with #3, Skyline at MacArthur Place.

Top of the line appliances and finishes along with a pratical layout and use of the space. Made Skyline far more interesting than the other two. We had to finally leave because we were not in going to buy anything. But over the course of the next three days we kept referring to the property.

Apparently all three developers are well know in the Orange County area (and more specifically Newport Beach) but I have yet to meet them. So I do not have a bias in that regard.

In any case, here's wishing you the best and I hope sales go in your favor. Oh, btw, if you would like a nice two bedroom give "Heidi Stockwell" a call at: 714.727.0602 she is the sales manager @ Skyline...or email her at: heidi@skylineinoc.com

Thanks for reading!! kglidewell@pacunion.com or http://www.SFLuxuryProperties.com

Gripe with Dept. of Building Inspection

Ken Glidewell (Pacific Union Real Estate) — Wed, 30 Apr 2008 19:56:14 -0500

The dept of building inspection seems to have not only inefficencies in work flow but apparently they have a budget shortfall as well.

This week the dept. announced a plan to raise rates charged to the public for such items as permits, etc...and including "Report of Residential Building Record" which those of us in the real estate business call the 3R report.

That report is rumored to be going from the current 50.00/report fee to $160.00/report. Note: this is a mandated report that every home owner is required to provide as apart of their disclosure package on a home, condo, loft, multi-unit etc...sale in San Francisco, CA.

That is a 300%+ increase that the public has to absorb. Come on where is our representation...??

I encourage all home owners to call your representative if you have a concern over this increase.

SF - Marina District warming up again!!

Ken Glidewell (Pacific Union Real Estate) — Mon, 28 Apr 2008 18:10:11 -0500

Welcome back to my "Market Update!!"

Seems that the "Marina District" of San Francisco has quietly become an active area of San Francisco. I have been monitoring several single family homes and condos for the last 4+ months and all of a sudden the majority have gone into contract.

There are a 'FEW' still available and I hear rumblings that a couple new condos will be coming on in the next week or so.

Have your cash ready!!

If you need further information or would like to contact me directly please go to my website: http://www.KenGlidewell.com or send me an email at the following: kglidewell@pacunion.com.

SF Market Update - Mortgage Analysis

Ken Glidewell (Pacific Union Real Estate) — Mon, 14 Apr 2008 12:13:21 -0500

First quarter transactions were definitely affected by the mortgage adjustment.

While San Francisco has a unique postion in the national mortgage landscape, we are seeing increased scrutiny when processing loans.

The impact that is trickling down to the San Francisco consumer is a higher down payment requirement. Typically the home buyer is asked to put 20% down as a minimum on a home purchase. That number goes up as the credit score moves downward.

Additionally, we are seeing less opportunity for HELOC's or 2nd's in this new lending environment. As the economic future of the country becomes clearer we will see lenders get more aggressive in attracting new borrowers.

But in the short term I would recommend watching your local employment numbers to anticipate where your area is headed.

Until next time, if you need to reach me email: kglidewell@pacunion.com or visit my website at: http://www.sfluxuryproperties.com/

Extra Costs when Buying a Home

Ken Glidewell (Pacific Union Real Estate) — Mon, 31 Mar 2008 18:29:15 -0500

Thinking of buying your first home or trading up to a larger one?

Well yes, there are those huge up front costs that confront everyone: the down payment and the loan.

Currently in San Francisco, a "strong" offer consists of a down payment with 20(+)% and a first from a reputable lender. Days of 100% financing are far and few between.

But there are other expenses that buyers need to budget when looking at buying a home.

Here is a short list to tease the mind:

Appraisal Fees
Property Taxes
Contractors Inspection
Pest/Structural Inspections
Other "as needed" Inspections
Property Insurance
Transfer Tax - depending on region
Mortgage Insurance
Mortgage Brokerage Fees
Condo HOA Fees
Moving Expenses
Improvement Costs

Now don't get freaked out. Not all costs are applicable to each transaction and some are an election on the part of the buyer but at least you now have an overview of what some possibilities are given the current market conditions.

If you need further details or estimates please send me an email at: kglidewell@pacunion.com or visit my website at: www.KenGlidewell.com .

San Francisco Luxury Market Update

Ken Glidewell (Pacific Union Real Estate) — Wed, 20 Feb 2008 15:08:19 -0600

Well it has been a few weeks since I gave a market update on "Luxury" properties in San Francisco.

This posting is specific to the "Uber" luxury here in the city by the bay.

I ran a search of data on the "OVER 5,000,000" dollar properties and here is but a glance at what I found.

13 properties currently listed at over $5,000,000
Price range is from the low of $5,850,000 to a high of $65,000,000
In fact there are four listed at over $22,000,000
Does not include properties agents are keeping as "pocket" or "quietly marketing"
Average days on market = 249, primarily due to 6 being listed for longer than 300 days
I would normally add sq ft & price per sq ft numbers but 6 elected not to complete that data

The overwhelming area represented is "Pacific Heights" with "Sea Cliff" coming in 2nd place. Nob Hill and Russian Hill were also represented but with only 1 and 2 homes relatively speaking.

I am aware of two (2) transactions that are not listed here. A new listing that will be coming on the market very shortly, in the Sea Cliff area. And a private sale in the same area reportedly over $6,000,000. Holy Smokes!!

Until next time, if you need to reach me email: kglidewell@pacunion.com or visit my website at: http://www.SFLuxuryProperties.com

Buy Smart: San Francisco Style...

Ken Glidewell (Pacific Union Real Estate) — Fri, 15 Feb 2008 13:32:30 -0600

With inventory levels low in San Francisco, this posting highlights strategies for you to "Buy Smart".

Keep 5-9 months of living expenses liquid (easy to access cash).
Put at least 25% down.
Stay in your home at least 5 years to solidify your potential appreciation.
Use an interest only loan when you plan to stay in a property less than 3 years.
Have your agent negotiate effectively on your behalf with realistic expectations.
And of course, get the lowest interest rate possible.

These are but a few simple guidelines when buying a home. If you want a deal and are timing the market then be ready to make a deal this March or April.

For more information: email me at kglidewell@pacunion.com or visit my website at: http://www.KenGlidewell.com

Who pays what in San Francisco?

Ken Glidewell (Pacific Union Real Estate) — Thu, 07 Feb 2008 17:50:42 -0600

In San Francisco, my buyers often ask: "Hey Ken, Who pays what?"...at the closing.

Here is an attempt at putting together a list of typical expenses when "buying" a property here.

Property Inspections - Pest, Structural, Contractors, Chimney etc...
Title Insurance Fees
Escrow Fees
New Loan Fees - application, appraisal & doc. prep
Hazard Insurance
Pro rated property taxes
Notary Fee
Document prep Fee - photocopies
Overnight Delivery Fee
Pro rated Condo HOA fee
Condo HOA Move-In fee
Recording Fees

That covers the majority of the ones I have seen on a consistent basis.

For more information just email me at: kglidewell@pacunion.com

or visit my website: http://www.sfluxuryproperties.com/

posted by: Ken Glidewell

Guidelines on Selling your San Francisco Luxury Real Estate

Ken Glidewell (Pacific Union Real Estate) — Wed, 23 Jan 2008 18:31:20 -0600

The following are some guidelines when deciding to sell your home in the current real estate climate.

1. Why are you selling your home? This is the single most important factor when deciding to sell your home. Do you need the proceeds for a specific purchase? Do you need a larger home due to changing family conditions? Or are you downsizing? All are important reasons to sell. But remember "Why" you are selling affects your list price, time allotted to selling, selling effort and how much money you will be allocating towards the selling process.

2. Keep the reasons to yourself. Have you ever noticed that at an Open House the potential buyers and viewers ask: Why are you selling? Most are not just curious but rather looking for a needy seller or a negotiating position when making an offer. What I recommend is that you answer that with your housing needs have changed.

3. Do your research. With the advent of the various internet based sites this portion of the business has become more readily available then in years past. But you will want to:

a.) see what properties have sold in the last six (6) months that are a direct mirror of your home.
b.) Check out other open houses to see what your "competition" is going to be like.
c.) get an independent appraisal so you have an idea of what the market value will be as well as letting any potential buyers know that your home can be financed.

4. Decide on a Realtor®.
Consider interviewing real estate agents while looking at several factors to base your decision. Some should include past sales, current listings, marketing plan, market knowledge and make sure that they are someone you can trust and feel confident that they will do a good job on your behalf.

5. Prepare your home.
Make sure your home presents itself in the best possible light. Fix everything. Make sure it is super clean. Eliminate the clutter from years of storage. Freshen the paint and make sure it is neutral in color. Make sure the entrance clean and unobstructed. Get rid of any odors like pet, food or smoke.

6. Remember to disclose everything.
Don't get caught in the trap of not disclosing all known defects. By doing this you can prevent liabilities and avoid potential lawsuits. Some states like California have extensive documentation requirements so check with the governing body in your state.

Ken is a licensed real estate agent living and working in San Francisco, CA. For more information on Ken's sales visit his website at: http://www.kenglidewell.com/

San Francisco Luxury Market Update

Ken Glidewell (Pacific Union Real Estate) — Fri, 11 Jan 2008 14:56:18 -0600

Today is Friday, January 11,2008 and I thought it would be interesting to see what kind of closing activity exists in the San Francisco Luxury Market.

Most define "luxury" here by price. So for the purposes of this report I am using closed escrow's over $2,500,000. For my friends in Virgina I know...that is steep but here you have to start somewhere.

I just ran a search in the local MLS that gave me a list of 16 properties that have closed since 12/1/2007. The price ranges from a low of $2,500,000 up to $16,000,000. And I must say some broker's have transactions that never hit the MLS so there may be more in reality.

Further analysis indicates that the single family homes had 13 of those sales. With a low of $2,538,000 to a high of $16,000,000 reflecting a mediam price of $3,500,000.

When I hear the media telling us that the real estate market is imploding I shutter and think, WOW!!

And just in case any of the uber wealthy are reading this blob entry, you can reach me at: kglidewell@pacunion.com or my website: www.SFLuxuryProperties.com .

Happy New Year!!

Bloggers Connect 2008

Ken Glidewell (Pacific Union Real Estate) — Mon, 07 Jan 2008 12:39:38 -0600

Starting 1/9/2008 at 9:00am, the "Bloggers Connect" session at Real Estate Connect will commence in New York.

I attended this relatively mellow sounding session and found it to be anything but mellow. In fact it was the most useful session for me during the entire 3 day program. Joel Burslem will likely moderate the panel and some follow up session and he will undoubtedly do a great job.

If any of my fellow RE Agents are in New York or you are already attending the event. I HIGHLY recommend attending the blogging sessions.

You will Thank me later!! Have fun in New York and see you guys when you return to San Francisco.