Real Estate by Rebekah

The lights are out in force

noreply@blogger.com (Ramblings by Rebekah) — Wed, 21 Dec 2011 04:27:00 +0000

Willow glen homes get a lot of attention this time of year - cause you can see them from outer space! ;-)

San jose dog

noreply@blogger.com (Ramblings by Rebekah) — Tue, 20 Dec 2011 16:32:00 +0000

I have a hyper little dog that goes goes goes.

I like to think of her as "high energy" just like her mom :-)

The other day I was talking to someone about her dog being diagnosed as "wha wha wha wha " which basically says her dog likes to jump.

I just think my dog likes to jump - it's not a "problem" but a personality.

Probably why I don't have a dog behavior show on TV!

3 bed 2 bath mountain view home for sale

noreply@blogger.com (Ramblings by Rebekah) — Tue, 20 Dec 2011 16:13:00 +0000

See the full gallery on Posterous

I like the wide plank hardwood floors, cozy sun porch and huge family room. Just reduced to 1.150M

The caveman doesn't like natural peanut butter

noreply@blogger.com (Ramblings by Rebekah) — Mon, 31 Oct 2011 22:52:00 +0000

My Instagram Page - Not Real Estate Related but fun :-)

noreply@blogger.com (Ramblings by Rebekah) — Tue, 06 Sep 2011 20:59:00 +0000

I love to play with the instagram app for my iphone. It turns my iphone into a fun photo editing tool!

Silicon Valley Market Update

noreply@blogger.com (Ramblings by Rebekah) — Thu, 01 Sep 2011 16:47:00 +0000

MLSListings® reports median single-family home price down -6.1% in Jul-11 over Jun-11, sales fall to 1,881.

Click here to view additional Market Reports

Jul-11 Quick Facts:

The median price of existing single-family homes decreased to $540,000 down -6.1% vs Jun-11.
Existing single-family home sales decreased -19.9% from Jun-11 for a Jul-11 total of 1,881 sold units.
Condos increased in price to $310,000 up 3.4% vs Jun-11.
Existing condo sales decreased -19.9% in Jul-11 over Jun-11 for a total of 548 sold units.

Single Family Median Home Price
Jul-10 vs Jul-11

Clarus MarketMetrics®

8/10/2011

The Number of Sold Properties by Month
Jul-10 vs Jul-11

Clarus MarketMetrics®

8/10/2011

Jul-11 MLSListings® Regional Sales and Price Activity

MLSListings®	Median Price	Percent Change in Price from Prior Month	Percent Change in Price from Prior Year	Total # Units	Percent Change in Sales from Prior Month	Percent Change in Sales from Prior Year
	Jul-11	Jun-11	Jul-10	Jul-11	Jun-11	Jul-10
MLS Wide
MLSListings (Single Family)	$540,000	-6.1%	-3.6%	1,881	-19.9%	-11.1%
MLSListings (Condo)	$310,000	3.4%	-10.1%	548	-19.9%	9.6%

MLSLSTNGS Region Counties
Alameda	$460,000	-18.6%	-16.7%	65	-31.6%	-16.7%
Contra Costa	$296,500	41.2%	30.0%	8	-38.5%	-52.9%
Monterey	$250,000	-12.3%	-6.5%	261	-9.4%	-10.6%
San Benito	$242,500	-2.6%	-8.5%	51	8.5%	-3.8%
San Joaquin	$197,000	3.7%	1.0%	21	0.0%	-4.5%
San Mateo	$745,000	-0.7%	-7.5%	417	-16.6%	2.5%
Santa Clara	$613,500	-1.8%	-1.8%	904	-23.1%	-14.4%
Santa Cruz	$460,000	-14.4%	-8.9%	123	-27.6%	-19.1%

MLSLSTNGS Region Cities
Single Family Only
Belmont	$950,000	12.3%	7.3%	15	0.0%	-21.1%
Burlingame	$1,292,750	1.0%	7.7%	24	-27.3%	-4.0%
Campbell	$731,000	9.1%	7.3%	23	-8.0%	-23.3%
Carmel	$1,312,500	-27.1%	14.1%	16	-23.8%	-5.9%
Cupertino	$1,160,000	-1.3%	3.6%	30	-30.2%	-23.1%
Daly City	$465,500	-4.3%	-10.0%	44	-12.0%	22.2%
East Palo Alto	$251,950	5.0%	-24.8%	20	33.3%	66.7%
Foster City	$872,444	-2.0%	-11.0%	10	-23.1%	-16.7%
Fremont	$620,000	-1.6%	1.1%	31	-29.5%	-18.4%
Gilroy	$422,255	5.8%	-1.9%	39	-33.9%	-39.1%
Gonzales	$173,000	-19.5%	0.3%	4	33.3%	-33.3%
Greenfield	$157,500	25.0%	3.2%	10	-44.4%	-37.5%
Hayward	$310,000	14.8%	9.0%	7	-53.3%	16.7%
Hollister	$242,500	-3.0%	-5.8%	41	-8.9%	-14.6%
King City	$121,450	-4.3%	-19.0%	10	66.7%	11.1%
Los Altos	$1,622,500	-2.3%	8.9%	26	-40.9%	-35.0%
Los Gatos	$1,292,500	-0.2%	8.2%	22	-46.3%	-40.5%
Marina	$335,500	19.6%	5.7%	10	25.0%	0.0%
Menlo Park	$1,170,173	-7.3%	-7.7%	44	0.0%	4.8%
Millbrae	$969,500	16.8%	8.7%	10	-44.4%	-16.7%
Milpitas	$450,000	-14.1%	-18.6%	35	12.9%	34.6%
Monterey	$430,000	-16.4%	-14.9%	9	-59.1%	-10.0%
Morgan Hill	$637,750	14.3%	3.7%	42	-6.7%	-6.7%
Mountain View	$955,000	-8.3%	3.2%	39	25.8%	95.0%
North Monterey County	$300,000	-7.7%	-11.8%	19	-5.0%	11.8%
Pacific Grove	$520,000	-7.4%	-19.1%	13	-18.8%	30.0%
Pacifica	$465,000	-7.0%	-7.5%	22	0.0%	-8.3%
Palo Alto	$1,410,000	-13.2%	-7.4%	38	-22.4%	-13.6%
Redwood City	$715,000	-7.4%	-22.7%	61	-3.2%	32.6%
Salinas	$232,500	-3.5%	-7.0%	50	-18.0%	-15.3%
Salinas - East	$199,000	8.7%	10.6%	27	28.6%	-41.3%
Salinas - North	$221,000	5.2%	-18.1%	12	71.4%	9.1%
Salinas Monterey Highway	$465,000	-16.7%	-26.8%	17	-19.0%	88.9%
San Bruno	$492,500	-9.6%	-2.6%	16	-15.8%	-11.1%
San Carlos	$902,000	3.1%	-8.9%	29	-21.6%	7.4%
San Francisco	$570,000	16.3%	-2.5%	11	-47.6%	37.5%
San Jose	$520,500	2.1%	-1.1%	473	-24.6%	-15.2%
San Lorenzo Valley	$365,000	42.9%	23.7%	17	6.3%	-22.7%
San Mateo	$800,000	14.9%	6.7%	51	-20.3%	-8.9%
Santa Clara	$561,000	-5.3%	2.0%	41	-29.3%	-4.7%
Santa Cruz	$540,000	-13.9%	-13.6%	30	-46.4%	-33.3%
Saratoga	$1,652,500	11.7%	0.2%	28	-28.2%	12.0%
Seaside	$208,500	-7.3%	-22.8%	18	-5.3%	-14.3%
Soledad	$160,000	3.2%	-5.3%	18	-5.3%	-18.2%
South San Francisco	$461,000	-6.4%	-2.7%	16	-52.9%	-33.3%
South Santa Cruz County	$390,000	-38.5%	37.8%	11	10.0%	-8.3%
Stockton	$142,500	1.8%	-17.2%	10	66.7%	42.9%
Sunnyvale	$808,000	-7.4%	1.4%	53	-22.1%	-24.3%
Tracy	$250,000	24.1%	-12.1%	5	-37.5%	-16.7%
Watsonville	$285,000	-1.7%	-1.7%	14	7.7%	-12.5%

Single Family = Single Family = Detached Single, Attached Single, Res Other
Condo = Condo = Condo, Townhouse, Common Interest Other
Reports generated from Clarus MarketMetrics®

Contact your REALTOR® for additional local market trends in your neighborhood. Reports were generated from ClarusMarketMetrics®. Clarus MarketMetrics® is available on a monthly or annual subscription basis to MLSListings® members. To register for an account, visit www.clarusresource.com/mm It is also provided as a member benefit to those REALTORS® who belong to Santa Clara, Santa Cruz, Silicon Valley, San Mateo, Monterey, San Benito and Watsonville associations of REALTORS®. Visit your local association site for registration information.

Launched in 2007, MLSListings® is designed to more effectively meet the current and future MLS needs of the region’s real estate professionals. Representing nearly 20,000 MLS subscribers, MLSListings® is governed by the brokerage community, and owned by Santa Clara, Santa Cruz, Silicon Valley, San Mateo, Monterey, Watsonville, San Benito and Central Valley associations of REALTORS®.

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Campbell homes for sale

noreply@blogger.com (Ramblings by Rebekah) — Fri, 19 Aug 2011 16:24:00 +0000

There are 9 homes on tour and about 2/3 the homes available when compared with August 2010

Why I run in the morning

noreply@blogger.com (Ramblings by Rebekah) — Mon, 15 Aug 2011 14:14:00 +0000

So there is no one to snicker when I fall!

Commercial Warehouse - Sold in 12 Days!

noreply@blogger.com (Ramblings by Rebekah) — Thu, 28 Jul 2011 14:36:00 +0000

There is a lot of cash in the market - which normally comes from investors. So, if investors are in the market why aren't you?

This investor spent $550K to get a $35K/year income. Most people only need 1 or two of those to be able to retire and pursue other interests. Have you done it yet? Are you ready to start? What's stopping you?

Are Foreclosure Outcomes Better or Worse Than Last Year?

noreply@blogger.com (Ramblings by Rebekah) — Fri, 08 Jul 2011 15:00:00 +0000

CA - Foreclosure Filings

CA - Foreclosure Outcomes

My loan modifier says that when I pay up front, they'll get it done!

noreply@blogger.com (Ramblings by Rebekah) — Wed, 06 Jul 2011 20:03:00 +0000

Really?

Up front fees have always been a problem. Once you pay the fee, how do you get ANYONE to do what they have promised?

When I work with contractors, they are legally bound to take 10% of the contract price for the job or $1,000, whichever is less. If a contractor asks for anything more, I run to the hills.

As a Realtor, I can charge a per hour consulting fee but if I become a partner with the Seller and take the risk of the house not selling, I charge a percentage of the sale and I only get paid if and when the property sells.

This week I got a call from a client. He had been contacted by a loan modification company that promised him a loan modification at a super low rate. In order to get him the loan modification, that would save him almost $100,000 over the life of the loan all he needed to do was to send them $3,500.

Did you know that up front fees for loan modification is ILLEGAL in California?

When people are desperate they do crazy things.

Did you know that there was a survey of people that play the lottery and that a fair percentage of them are folks that are at the end of their rope and throwing money at the lottery hoping for a miracle.

Throwing money at a loan modification company is just like throwing money at the lottery. Your odds of winning are super low and most people lose their investment and possibly the house.

There are ways of getting a loan modification that doesn't require an up front fee. And, at the same time, the odds of getting a loan modification are extremely low.

I know things are tough, I know you are desperate but please, throwing money at the problem won't fix it and will probably make things worse.

60 San Jose Avenue - Warehouse for Sale

noreply@blogger.com (Ramblings by Rebekah) — Thu, 16 Jun 2011 19:23:00 +0000

Rebekah Owen, Broker | Intero Silicon Valley | (650) 492-5958

60 San Jose Avenue, San Jose, CA

5,000 sf warehouse on 16,800 sf fenced yard. 3 rollups, approx 18' clear height, split into two units with small office areas and separate bathrooms.

Industrial

offered at $574,450

Year Built	1972
Sq Footage	5,000
Floors	1
Parking	Uncovered spaces
Lot Size	16,796 sqft
Maint	$0 per month

DESCRIPTION

One owner for last 20 years. Possible lot split with waiver. San Jose Avenue is an easily accessed location with good frontage and onsite parking.

see additional photos below

PROPERTY FEATURES

- 2 complete units each with an office and bathrooms

- GSI of $33,000/year

LOCATION FEATURES

- Central to all freeways

OTHER SPECIAL FEATURES

- Gated yard on oversized 16000+ sf lot

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3

Contact info:

Rebekah Owen, Broker

Intero Silicon Valley

CA 00994952

(650) 492-5958

For sale by agent/broker

Equal Opportunity Housing

Posted: Jun 15, 2011, 10:49am PDT

Willow Glen Home Sales Statistics

noreply@blogger.com (Ramblings by Rebekah) — Fri, 10 Jun 2011 14:47:00 +0000

18 Homes in Willow Glen went pending last week - one of those was REO.

The highest price was $1,549,950 and the lowest was $250,000 with average Days on Market of 34 days.

The cheapest property has been on the market since Aug 20, 2010, is on it's third Realtor, and they are just now submitting it for approval? Of course, it's with Bank of America - my nemesis. Those short sales are always a gamble. I hope it closes this time!

It's a HOT market!

Loan Mod, catch up on past payments and other mortgage assistance is available

noreply@blogger.com (Ramblings by Rebekah) — Fri, 20 May 2011 23:24:00 +0000

Keep Your Home California

I love this site because it has all the information that you need to understand the options available to those that are at risk of losing their home. It explains the loan modification, principle reduction and other options.

It's a well written and clear site full of information and resources to help my clients.

What I like most about this site is the "eligibility" tab. This helps you drill down quickly to what you can and can not do. Period.

I hope you like it as much as I do. I hope it helps you stay in your home.

Media: News Releases > Fannie Mae Implementing New Loan-to-Value Ceiling for Home Affordable Refinance Program

noreply@blogger.com (Ramblings by Rebekah) — Sat, 29 Aug 2009 22:17:00 +0000

If you need to refinance [an arm] and your loan is worth more than the current home value - this is Fannie's Fix:

<cite>Media: News Releases > Fannie Mae Implementing New Loan-to-Value Ceiling for Home Affordable Refinance Program</cite>: "

News Release July 1, 2009 Fannie Mae Implementing New Loan-to-Value Ceiling for Home Affordable Refinance Program;Loans Eligible for Delivery September 1WASHINGTON, DC -- Fannie Mae (FNM/NYSE) announced today that the company is providing information to servicers regarding changes to the Home Affordable Refinance Program (HARP) that permits refinancing of existing Fannie Mae loans with loan-to-value (LTV) ratios up to 125 percent. The loans will be eligible for delivery on or after September 1, 2009.

It's Official: If you've been waiting for the bottom...you missed it!

noreply@blogger.com (Ramblings by Rebekah) — Wed, 26 Aug 2009 17:13:00 +0000

The numbers have been looking up for about the last 60-90 days: inventory is dropping off, sales volume is up and the closings are up.

Industry Barometer Shows Gains in Home Prices for Second Straight Month

Prices of single-family residential homes rose for the second consecutive month in June, Standard & Poor’s reported Tuesday. Quarter-over-quarter gains were also evident during the second quarter of the year, for the first time since 2006.

Yes the new lending guidelines are a hassle, no there's no 100% no doc loans but, the huge sucking sound that was our equity disappearing alongside 200+ banks and lending institutions, has eased.

The opportunity is there but you can't win if you don't enter the race.

market conditions, real estate, short sale, REO, cash flow, houses

Is an $8K credit worth $250K fine PLUS 3 years in jail?

noreply@blogger.com (Ramblings by Rebekah) — Thu, 30 Jul 2009 10:43:00 +0000

Don't "accidentally" claim the first time buyers credit. The IRS doesn't take lightly to "accidents".

WASHINGTON — The Internal Revenue Service today announced its first successful prosecution related to fraud involving the first-time homebuyer credit and warned taxpayers to beware of this type of scheme.

On Thursday July 23, 2009, a Jacksonville, Fla.-tax preparer, James Otto Price III, pled guilty to falsely claiming the first-time homebuyer credit on a client’s federal tax return. Price faces the possibility of up to three years in jail, a fine of as much as $250,000, or both.

To date, the IRS has executed seven search warrants and currently has 24 open criminal investigations in pursuit of potential instances of fraud involving the credit. The agency has a number of sophisticated computer screening tools to quickly identify returns that may contain fraudulent claims for the first-time homebuyer credit.

“We will vigorously pursue anyone who falsely tries to claim this or any other tax credit or deduction,” said Eileen Mayer, Chief, IRS Criminal Investigation. “The penalties for tax fraud are steep. Taxpayers should be wary of anyone who promises to get them a big refund.”

Whether a taxpayer prepares his or her own return or uses the services of a paid preparer, it is the taxpayer who is ultimately responsible for the accuracy of the return. Fraudulent returns may result not only in the required payment of back taxes but also in penalties and interest.

First-Time Homebuyer Credit

Oakland, California, passes landmark marijuana tax - CNN.com

noreply@blogger.com (Ramblings by Rebekah) — Wed, 22 Jul 2009 13:36:00 +0000

So California:

<cite>Oakland, California, passes landmark marijuana tax - CNN.com</cite>: "

Decrease font Decrease fontEnlarge font Enlarge fontOAKLAND, California (CNN) -- Oakland's bid to become the first U.S. city to tax proceeds on medical marijuana passed Tuesday by a landslide vote.About 80 percent of people voting in the Oakland election approved the new medical marijuana tax.About 80 percent of people voting in the Oakland election approved the new medical marijuana tax.About 80 percent of voters chose to impose the tax on Oakland's medical marijuana facilities, according to the Alameda County Registrar of Voters.Some celebrated the news at Oaksterdam University by hand-rolling large marijuana cigarettes or stuffing cannabis into pipes. The school trains students for work in the medical marijuana industry.'It is important because the city of Oakland is facing a massive deficit like many jurisdictions in California,' said Steve DeAngelo, a leader of one of the city's cannabis clubs. 'And we decided to step up to the plate and make a contribution to the city in a time of need.'DeAngelo, one of the people who led the effort to get the tax approved, said his business will now have to pay more than $350,000 from the new tax next year. Video Watch report from CNN's Dan Simon �

Starbucks Returns to Store Expansion

noreply@blogger.com (Ramblings by Rebekah) — Wed, 22 Jul 2009 13:25:00 +0000

Making plans as the market strengthens

<cite>Starbucks Returns to Store Expansion</cite>: "

SEATTLE-After closing hundreds of units in the last year, Starbucks Corp. is ready to expand again in 2010, executives said at the company's third-quarter conference call.The company now expects to open approximately 55 net new licensed stores in the United States and approximately 310 net new licensed stores internationally this year. Plans for 2010 are still being made, noted Troy Alstead, executive vice president and chief financial officer, and growth will largely be concentrated internationally. In addition, the company is testing a new store design in Seattle, Paris and Tokyo, and has opened a new concept, 15th Avenue Coffee and Tea, which removes the Starbucks logo and sells beer and wine as well, in Seattle.

Don't Gamble with your exchange funds!

noreply@blogger.com (Ramblings by Rebekah) — Sat, 13 Jun 2009 10:37:00 +0000

Folks that were using LandAM as their exchangor when LandAm filed for bankruptcy, LOST their exchange funds!

This keeps happening! A few years ago some of the exchange companies went under and the people with their funds in an exchange lost those funds.

Don't let this happen to you:

You may have heard that LandAmerica Financial Group, Inc. and its subsidiary LandAmerica 1031 Exchange Services (LES) filed for bankruptcy protection in November, 2008. As a result, investors who had exchange accounts with LES were unable to access their funds.

Recently, the bankruptcy court issued two rulings which found that the exchange funds held by LES in either a commingled account or a separate sub-account did not belong to the individual Exchangors, but must instead be included in the bankruptcy estate. As a result, these exchange deposits became part of the general pool of money that is available to pay all the creditors of LES.

So what went wrong for the LES clients? How is First American Exchange Company different?

Most importantly, there was a provision in the LES exchange agreement where the clients explicitly gave up all right, title and interest in the exchange funds to LES. Such language is not contained in any of the exchange documents used by First American Exchange Company.

LES held some funds in a master account with sub-accounts used to identify each client's funds. The majority of the funds were held, commingled, in the LES operating account. At First American Exchange we never commingle client funds, nor do we use a master/sub-account structure. We set up an individual account for each client at an FDIC insured bank, identified with our client's name and tax identification number. Our clients receive all the interest earned on the account as reported on the 1099 issued directly by the bank. Funds are released only after receiving a written direction from our client.

LES invested a large portion of exchange funds in auction rate securities, which had become illiquid. First American does not invest exchange funds in securities. Client funds are only placed in fully liquid demand deposit accounts in highly rated banks. Deposits are monitored on a daily basis by our corporate treasury department.

Finally, the court held that state law determines whether exchange funds are a part of the bankruptcy estate, and in this case the court looked to Virginia law. First American's exchange agreement is governed by California law, which provides that exchange funds held by a Qualified Intermediary are not subject to attachment by the intermediary's creditors. This law helps protect exchange funds from outside claims.

If you're thinking refi - you'd better think fast!

noreply@blogger.com (Ramblings by Rebekah) — Thu, 11 Jun 2009 23:44:00 +0000

Did we chat about this?

Mortgage rates rise to 7-month high - San Jose Mercury News

WASHINGTON — Rates for 30-year home loans jumped to the highest level in seven months this week, leading to a slowdown in refinancing activity, Freddie Mac said today.

The average rate for a 30-year fixed mortgage was 5.59 percent this week, up from 5.29 percent last week, Freddie Mac said. The last time the average 30-year fixed rate mortgage was higher was the week ended Nov. 26 of last year, when it averaged 5.97 percent.

Now's the time - If you've got an adjustable, 5 year fixed, or anything other than a regular old 30 year fixed, now's the time to get movin on that refi. Lock it in sooner than later.

Health Alert: Your home may be making you sick

noreply@blogger.com (Ramblings by Rebekah) — Wed, 03 Jun 2009 12:03:00 +0000

New car smell is toxic - as are many of the building materials in homes.

If your home is new or if you've done upgrades, think about testing the interior levels of formaldehyde.

I have one owner that just replaced baseboards and interior doors to "cute up" his house. It looks great but the interior levels of formaldehyde are now above the safe limits - like a WAY above.

The good news is that opening the doors and windows helps to lower the levels significantly. I don't know how quickly the gas fills the house but, with summer coming and many folks switching over to A/C, this may mean your interior levels could spike sharply.

Also, if your kids have behavioral problems - think about their environment. Kids are more susceptible to black mold, radiation [sometimes found in granite], formaldehyde[injected into wood products], etc.

If you are thinking about a short sale you need to read this!

noreply@blogger.com (Ramblings by Rebekah) — Tue, 05 May 2009 17:27:00 +0000

It's been my understanding that the IRS has "waived" the "gain" of a short sale - it was just for a short time period, etc so read up on the details at irs.gov.

In all my short sales, I've only had one bank negotiate a deficiency judgment but read on:

A Short Sale May Not Mean You're Home Free - WSJ.com

Financially troubled borrowers may think that foreclosure or a short sale of their home means their mortgage woes are over.

Not necessarily.

Some homeowners are finding that when they sell their homes for less than the outstanding mortgages -- a so-called short sale -- their mortgage companies are going after them for some or all of the difference. Mortgage companies are also sometimes taking legal action to recover unpaid amounts after a foreclosure is completed.

Bernanke agrees - the market is looking up!

noreply@blogger.com (Ramblings by Rebekah) — Tue, 05 May 2009 16:35:00 +0000

Bernanke says U.S. recovery ahead, housing near bottom

WASHINGTON (Reuters) – Federal Reserve Chairman Ben Bernanke told Congress on Tuesday the three-year U.S. housing bust may be near a bottom and that he expected the recession to end this year barring a relapse of the financial crisis.

I am glad this didn't pass - but the margin is pretty thin...

noreply@blogger.com (Ramblings by Rebekah) — Sat, 02 May 2009 16:59:00 +0000

I believe in business people determining business details - not judges.

In real estate we find judges that are making a civil judgment on real estate matters and don't realize the laws in place. My fear is that if we give too much power to bankruptcy judges the money supply will decline - raising rates and making it more difficult for borrowers.

'Cramdown' Crammed Down in Senate -- For Now - BusinessWeek

'Cramdown' Crammed Down in Senate -- For Now

Posted by: Theo Francis on April 30

In a vote of 45-51, the Senate rejected legislative language that would have given judges the right to modify mortgages in bankruptcy, including by reducing principal, lowering interest rates or extending a loan’s term.

Just don’t expect it to vanish entirely.