All Juice... All Real Estate... All The Time

We've Moved

2008-12-15T11:28:00.000-08:00

Hey there, thank you for stopping by.

I've moved my site and can now be found at www.kristashouse.com.

Please come and check me out!

~~~Krista

Rate Watch from Gwen & Rhoda

2008-12-11T13:33:00.000-08:00

Here is the latest and greatest from a pair of super cool mortgage brokers, Gwen Hoople & Rhoda Paul of Holmgren Mortgage in Oakland.

"Mortgage rates increased last week despite news that the economy will be in an extended recession and a jobs report that was weaker than expected. Stocks surged Monday in a positive response to progress on a potential rescue of the Big Three auto makers, as well as news of President-elect Obama’s stimulus plans. Rates normally rise when the stock market rises, but are relatively unchanged since last week. We are receiving many calls from consumers asking about the Treasury plan to reduce mortgage rates to 4.5%, but so far no information has emerged about what this means, who it will apply to, and other critical details."

30 Year Fixed Conforming: 5.625%/5.662%APR
30 Year Fixed Agency-Jumbo: 6.000%/6.024%APR
5 Year Fixed Conforming (1 Point): 5.375%/5.435%APR
5 Year Fixed Int. Only Conforming (1 Point): 5.500%/5.456%APR
5 Year Fixed Int. Only Jumbo (1 Point): 5.750%/5.477%APR

http://www.gwenandrhoda.com/

Forbes.com: 10 Best Suburbs to Sell A Home. Berkeley is #1!

2008-12-09T13:19:00.000-08:00

Berkeley, Calif., known sometimes as a hippie haven, is becoming a hotbed for home sales.

Prices in the Bay Area suburb are up 9% this year, with homes selling for a median price of $790,986. Properties are sitting on the market for 73 days on average, the lowest of any area with positive price trends within the confines of the country's 75 largest Census-defined metro areas. Only 37% of sellers have been forced to reduce their prices, one of the lowest rates in the country.

It may not be a boom, but given regional problems it's a good market to be in. Berkeley joins Venice, Calif.; Bedford, Texas; Kennesaw, Ga.; and Montclair, N.J., on our list of suburbs with the best conditions for sellers.

In fact, the only housing-market problem Berkeley seems to have involved four protesters who illegally occupied a tree from the beginning of the year through September. Authorities finally cut off the hippies' food and water supply, forcing them from their oak home.
"If you have to sell a house, sell in these places," says Michael Simonsen, chief executive of Altos Research. "But it's a measure of how rough is it out there for sellers. These are the best markets, and we're looking at three to four months of time to sell in the country's best markets."

Our data comes from Altos Research, a Mountain View, Calif., research firm. We looked at the suburbs in the country's 75 largest Census-defined metro areas based on the last 90 days of sales activity. Since a metro area can contain hundreds of suburbs, we narrowed it to those cities with an inventory of at least 75 homes on the market.

Since stagnation is the death of prices and sales, we further eliminated suburbs where it currently takes more than 125 days to sell the average home. Price also matters. Nationwide, cities like Sacramento, Calif., and Los Angeles are among the easiest to sell a home, based on sales data from Radar Logic, a New York real estate research firm, but homes are mainly selling at massive discounts. To eliminate these places from our list, we excised any suburb where year-over-year price declines were steeper than 10% and where more than 50% of sellers had to reduce their asking price to sell their home.

What was left wasn't a set of awe-inspiring hidden gems where sellers are awash in bidding wars. Nationwide, low-interest rates and low prices caused existing home sales to rise 5.5% in September, but in many areas of the country, sellers are finding relatively few buyers.

Indeed, areas like Encinitas, Calif., and Matthews, N.C., where homes are staying on the market 100 and 127 days respectively, make our list even though such long waiting times are traditionally hallmarks of buyers' market.
Sellers in Waltham, Mass., a middle-class suburb west of Boston, don't have that problem. They've seen 1% price appreciation over the last year, and only 53% of them have to reduce their price in order to make a sale. It's not exactly a bull market, but homes only take 79 days to find buyers, the second-quickest turnaround of any suburb on our list.

Further south, 27% of sellers in Montclair, N.J., have dropped their prices in the last 90 days. The median home price there is $671,954, and properties stay on the market 115 days.
While this is good news for local homeowners, these are hardly sellers markets.
"In some markets you can drop the price to zero and not sell a brand new property," says Doug Duncan, the chief economist of Fannie Mae.

Why? "There's no one there to buy it."

Click here to see the original article from 11/6/08: http://www.forbes.com/2008/11/06/homes-sellers-suburbs-forbeslife-cx_mw_1106realestate.html?partner=email

El Cerrito High School renovation near completion

2008-12-08T14:27:00.000-08:00

This winter the much acclaimed and highly anticipated El Cerrito High School is scheduled to re-open. The school, which was demolished in 2005, has undergone an intense renovation process. Many are calling it the "Taj Mahal" of high schools. The 200,000 square foot, state-of-the-art campus located on Ashbury Avenue will include a 650-seat performing arts center, a solar-paneled roof that will generate 40% of the schools power, and an expansive courtyard.

The $116 million dollar price tag is a part of the West Contra Costa School Districts $1 billion bond reconstruction program which was designed to renovate a few dozen schools within the district.

Berkeley's Fourth Street is primed for the holidays

2008-12-04T10:53:00.000-08:00

I went down to Fourth Street in Berkeley last week to do my part to stimulate the economy (ha!). I arrived just as the sun had set, and as I turned the corner from Hearst onto 4th, I was suddenly overcome with joy. Surrounding me was a spectacular parade of lights. Beads of blue and white lights speckled the sky; vibrant bulbs of reds and greens and blues dotted the trees.

It is at times like these that we forget that unemployment is at its highest in 26 years, we forget that there is a horrific war still happening on the other side of the world, and we forget that the economy is falling apart.

Here on Fourth Street, the world is at peace.

Black Friday- get your FDIC coupons here

2008-11-26T00:07:00.000-08:00

Something to be thankful for

2008-11-25T13:21:00.000-08:00

Have you heard that the holidays are upon us? Chances are you have. Thursday is Thanksgiving and here in the Bay Area, despite falling home prices and falling leaves, the weather is still warm. At 9am this morning my daughter and I left for our daily walk to her daycare wearing only light jackets. Later that morning my sister called to tell me that it was snowing in Boise, where she lives-the first snowfall of the year. I listened with envy, wishing I was also dancing in the snow.

Thanksgiving in my family is very small, just my husband, my daughter, and me. Years ago my husband and I decided that Thanksgiving would be about us. Sometimes family can be...well...a little much so each year we leave our home and leave our family and head to the mountains. South Lake Tahoe is our destination and each year we stay at the same little hotel a few blocks from Heavenly. Some years there is snow, some years there isn't. Some years we ski, some years we hike. But what is consistent is the dinner. Every year our Thanksgiving feast is at LewMarNels, a lovely restaurant near the water. The staff never changes, and neither does the food. But this is what we like about it. They offer a 5 course meal complete with fondue, soup, salad, choice of entree, and dessert. Each year we fill up our stomachs so much that it hurts to laugh.

This tradition is one that we look forward to every year. Not only does this form of family community remind us how lucky we are to have each other, but how thankful we are.

Despite these economic times, I know there is something that we can all be thankful for.

Berkeley bungalow cute as a button

2008-11-20T13:46:00.001-08:00

Broker's Tour today didn't produce much. Inventory is down, WAY down. Perhaps people are wanting a place to live to cook their turkey's. I don't blame them!

But I did see something worth mentioning: 2705 Mathews in West Berkeley. This 1 bedroom Craftsman bungalow is located on a wonderful tree-lined street in Berkeley's Left Bank. It has been remodeled with nice touches, has a sweet back yard, and original charm and details. Close to shopping, restaurants, and the new West Berkeley Bowl (http://juicyrealestate.blogspot.com/2008/11/hooray-new-berkeley-bowl-is-on-its-way.html), I think this great condo-alternative is priced close to where it should be, $439,000.

Hooray! A new Berkeley Bowl is on its way!

2008-11-20T13:25:00.000-08:00

Berkeley Bowl is back in the news. Not because John G. was banned, and not because nuts are flying off of the shelves, but because Berkeley Bowl Marketplace has just given birth, well, almost.

This second store, expected to open early 2009 will be a full-service, one-of-a-kind, green, environmentally friendly, and sustainable marketplace at the corner of 9th Street and Heinz Avenue in the mixed-use neighborhood of West Berkeley. The Project includes construction of two buildings: (i) a grocery marketplace with retail, administrative offices, and associated storage space over an underground parking garage, and (ii) a prepared food service area with limited seating and a community room.

(information provided via http://www.kavamassiharchitects.com/)

New Conforming Loan Limits set for 2009

2008-11-18T14:36:00.000-08:00

Word on the street is that the new loan limits have arrived for 2009! (I know you just can't contain yourselves!)

For Alameda and Contra Costa Counties:

1 unit-$625,500

2 units-$800,775

3 units-$967,950

4 units-$1,202,925

Now go buy a house!

Hello Berkeley: Are sellers giving up?

2008-11-13T15:02:00.000-08:00

Today is Thursday. Each Thursday, fellow agents and I shuffle into our cars and drive around Berkeley, Kensington, Albany, El Cerrito, Emeryville and Oakland to check out all of the new listings. Today we saw 9 houses. That is down by 50%. To entice agents to view a house, most will provide food and tasty treats; one house offered a new Prius to the agent who brought an offer.

Are people afraid to sell? I can't really tell you how many people are out there who may be afraid to sell, but what I can tell you is that the numbers are down.

I did a little research and found that in these surrounding East Bay areas that there are currently 1916 active listings (1678 of which are in Oakland alone).

Since the beginning of the year some interesting things have happened:

Berkeley, Albany, El Cerrito, Kensington and Emeryville: Year-to-Date

Active: 252

Expired: 294

Price Change: 23

Pending: 108

Sold: 812

Withdrawn: 242

Now let's add in Oakland: Year-to-Date

Active: 1664

Expired: 2281

Price Change: 107

Sold: 2139

Withdrawn: 1925

Its safe to say that nearly 40% of our listings were expired or cancelled and only 28% have sold. So of course sellers are nervous; only those who really need to sell are looking to put their house on the market.

Sure, we still have multiple offers: in fact, one house in the Claremont Hills just had 20 offers. Sellers, don't be afraid! That is at least 19 other buyers immediately available in the Claremont Hills.

(data courtesy of EBRDI MLS)

Mountain House, the highest underwater town

2008-11-12T00:02:00.001-08:00

Highest underwater town? Huh?

Mountain House, California. Mountain House is located about 60 miles east of San Francisco. It is a master planned community designed to promote community, family and lifestyle. But there is something of real interest here: despite being 59 feet above sea level, most of the community is underwater.

It is here where the average homeowner is $122,000 underwater; some homeowners are underwater as much as a half million dollars. It is here where 90% of homeowners owe more than their house is worth, making this the highest percentage in the country. It is here where new homes are still being built and sold.

What? New homes are still being built AND sold? Houses here start at $200,000 and go up to $600,000.

Albany/Berkeley: Restaurant on Solano Ave., with outdoor seating!

2008-11-11T14:53:00.000-08:00

Great things are happening on Solano Avenue. Despite these trying economic times, there are some businesses that are managing to hang on, and others that have decided to brave the rapids.

Rendez-Vous Cafe Bistro touts itself as "delicious affordable french cuisine." Affordable indeed. It hasn't been opened long, but I have driven by several times at night and the place is packed.

Here is the COOL part...there is outside seating! WHAT??? you say? Yes, you heard me. This is a rarity on Solano Ave.- only a couple of places have outdoor seating.

Check them out http://www.rendezvouscafebistro.com/

Fabulous homes on tour today, Albany, Kensington and El Cerrito

2008-11-06T12:31:00.000-08:00

Not much on tour today, but I did come across some very sweet treats.

1022 Evelyn, Albany

Originally listed for $599,500, this house has a SUPER new price, $535,000. 2beds, 1bath, beautiful hardwood floors. Albany schools, walk to Solano. I don't think it will last at this price.

7302 Gladys, El Cerrito

This super cute, 3bed home is fully updated with bay views and a master suite with bath. I think the agent mentioned that it will be open this weekend, with offers on the following Tuesday. This house is a really great value, and in a great neighborhood. $519,000

415 Santa Fe, Kensington

This charming 2bed house is located near Kensignton Circle, where El Cerrito, Albany, Kensington and Berkeley meet. Walk to Kensington Pub, Semifreddis, Trader Joes and BART. $599,000. No pictures are available at this time.

Move over Joe the Plumber- Starbucks has a better Joe

2008-11-04T13:55:00.000-08:00

Starbucks Offers Free Coffee to Voters on Election Day

Move over Joe-the-Plumber. This election just got a better Joe.

What if we all cared enough to vote? Not just 54% of us, but 100% of us? What if we cared as much on Nov. 5th as we care on Nov. 4th? What if we cared all of the time the way we do some of the time?

Would our world be a better place?

Starbucks thinks so.

So come into Starbucks on Nov. 4th, tell them you voted, and they will proudly give you a tall cup of brewed coffee. Free. No questions asked.You and Starbucks. It's bigger than coffee.
Please do your part and VOTE...if not for the coffee, then do it because you care.

Berkeley Burglars Kicking in Doors in the Hills

2008-11-03T10:32:00.000-08:00

COMMUNITY CRIME ALERT - BURGLARS KICK DOORS IN THE HILLS

Berkeley, California (Friday, October 24, 2008) - City of Berkeley Police Department (BPD) Property Crimes detectives are alerting the community about a series of daytime burglaries that have been plaguing the North Berkeley Hills in the past two months.

I have clients and friends in the hills. They know people who's homes have been burglarized. They are scared themselves.

Gone are the days of leaving our doors unlocked during the day. Gone are the days of leaving windows open while you head out to run a few errands. Gone are the days of feeling completely and utterly safe in your home.

The burglar or burglars have been focusing on homes during daytime hours and making off with laptops, electronic equipment, jewelry and bikes. The suspect or suspects have been primarily kicking doors in order to get into the houses, however not exclusively.

According to the Berkeley Police Department, most burglaries are "crimes of opportunity." But kicking in a door does not signify a crime of opportunity. Here are some things that you can do to try and prevent a burglary from occuring in your home:

1) Keep your doors locked and windows shut at all times
2) Track down who has keys to your house and closely monitor who you give them to

3) Install an alarm system

4) Start a neighborhood watch (we just did this in my neighborhood)

5) Keep all entrances well lit

6) Ask to see ID of all utility workers

7) Do not open your door to solicitors, unless they have a permit from the city

8) Insure any items of value

9) Inform neighbors if you will be out of town

10)Report any suspicious activity to your local police department

BPD is asking for the community’s help with stopping this series. Community members in Berkeley are urged to call BPD at 981-5900 if they note suspicious people or activity in their neighborhood. (Non-emergency dispatch line)

For Crimes in Progress please call 911 or (510) 981-5911 from your cell phone.

BPD is a partner of Bay Area Crime Stoppers. (BACS) BACS offers up to $2,000 cash in reward money to those who offer information that detectives determine is helpful to any felony investigation. Anyone with information can call 1-800-222-TIPS. All Bay Area Crime Stoppers calls are completely confidential.

How safe do you feel neighborhood?

Rally for Laurie Capitelli, Marin Circle, Berkeley

2008-10-28T12:29:00.000-07:00

Yesterday some fellow "Oakies," as we call ourselves (people who work for Red Oak Realty), and I met at Marin Circle in Berkeley to show our support for our Broker, Laurie Capitelli, who happens to be running for re-election in Berkeley's City Council District #5.

We, along with some good 'ol tummy warming Peet's, met at the circle at 7:30am and were greeted by honks, high fives, loud cheers, and some not-so-cheerful cheers.

I swear 65% of those driving through the circle were driving Prius', and of thos 65%, 35% were blue. Very Democratic.

Here is what was so suprising to me: Marin Circle is awfully busy at 7:30 in the morning. People coming from the Arlington, down Marin, up Marin, down from Thousand Oaks, into Thousand Oaks, 'round and 'round the Circle. People driving everywhere, each with a different agenda: passengers reading the daily newspaper, holding a cup of coffee and hoping it doesn't spill; kids in the back seat playing with their iPod's or other handheld devices; parents running late to drop off their kids; women putting on some last minute makeup (I even saw someone driving who was doing this).

Many people weren't paying attention; some pedestrian's and bicyclists were almost hit.

But for the most part, people were friendly. I realized that even if these people didn't agree with Laurie, as long as they started their day with a honk and a wave, all would be well in the world. But start your day with a grunt and a groan, no amount of coffee will help your day.

(In this picture, I am 3rd from the right)

Top 10 WORST Halloween Treats

2008-10-23T17:13:00.001-07:00

Is this your first Halloween in your new digs? Well, here is a list of what NOT to hand out:

1) Toothbrushes
Dentists and orthodontists should not be allowed to celebrate Halloween if they're going to get all tooth doctory on us. Do not bring your work home with you, folks! We all have a personal responsibility to brush, and maybe some of us will forget, but your complimentary bristles on a stick (instead of a Snickers) will not help us remember. It will make us despise you and your trade.

2) Raisins
Little boxes of stuck-together shriveled globs are not what little kids schlep around the neighborhood for all night. When they say trick-or-treat, they want candy that will rot their teeth, not wrinkled grapes. (Using an empty box as a kazoolike instrument, though, is kinda fun.)
3) Candy Corn
The most polarizing candy of all. The fruitcake of Halloween; it just never goes away. If you love them, fine. But don't subject the rest of us haters to the sickeningly sweet triangle that tastes like neither candy nor corn.

4) Smarties and Necco Wafers
The chalky candy is supposedly "fruit-flavored," but no fruit I know tastes like dust—and makes everything eaten after taste like dust, too.

5) Dum Dum Lollipops
Usually, foods on a stick are yummy (corn dogs, ice pops), but DumDums just can't be included on that list. Not even if they were breaded and deep-fried and served at a fair.

6) Apples
Before the "poisoned candy scare," evil people handed out apples. After the scare (OK, perhaps it's an urban legend), even eviler people handed out apples with sharp blades and needles hidden inside, making this "treat" even more disappointing.

7) Tootsie Rolls
It looks like chocolate and sort of smells like chocolate, but the mini brown tubes are not real chocolate. They taste like watered-down chocolate, and have a chewy texture that will strip the fillings right off your molars.

8) Miscellaneous, Wrapped Hard Candies
Halloween is supposed to be a holiday for young people, not senior citizens who suck on hard candies all day. Something about the strawberry-shaped strawberries, gold-wrapped butterscotch, and peppermint feels past the expiration date. (These usually get set aside for Granny.)

9) Laffy Taffy
I do not laffy when I get these. I sobby. I get depressedy. Because it gets all stucky to my teethy and doesn't even taste that goody.

10) Anything Fun-Sized
Who started calling it this? Since when is one bite fun?! Give us the rich houses with the sprawling driveways and full-sized candy bars any day. Portion control doesn't need to start this young.

Some Halloween Fun

2008-10-23T17:10:00.000-07:00

Homes Sold Berkeley, Oakland, El Cerrito Aug 04-Aug 08

2008-10-13T12:16:00.000-07:00

Home sales in the East Bay and Bay Area, including Berkeley, Oakland, El Cerrito and surrounding areas have seen a dramatic decline over the past four years. However, since February of this year, sales have begun to gradually increase. Those areas hit hardest by foreclosures are the same areas seeing the largest increase in sales.

Currently median home values are at their lowest in over four years. Year over year we have been seeing a price decline around August, with August '07 seeing the greatest decline. This rate of decline is expected to continue into next year, although the rate of decline is expected to not be as drastic.

Now lets look at my town: Berkeley, Albany and Kensington...for the past year, values have held strong. The up and down action you are seeing is normal. What isn't normal are the multiple offers we are still seeing in many areas. But these graphs show why: the number of buyers continues to outweigh the sellers.

Alameda County Area Statistics, including Berkeley & Oakland

2008-10-10T11:23:00.000-07:00

Here are the area statistics for Alameda County for August 2008. Note that the median price/square foot is down across the board from the same time last year.

Berkeley Financing Update from Chet Gohd, RPM Mortgage

2008-10-09T13:21:00.000-07:00

I asked one of the mortgage brokers that I often work with to provide my readers with a market update from his perspective. Please read below to see what he has to say. (Click the image to read a larger version)
Questions? Call Chet Gohd, Branch Owner, RPM Mortgage, (510)524-1526

Need a chimney cleaning?

2008-10-02T14:16:00.000-07:00

(sing to the tune of the Calomine Lotion jingle)

"Icky, sticky, drippy, crusty...oh I see that shiny stuff-y!" (end song)

You know what I am talking about, right? Huh? CREOSOTE! That black stuff that sticks to the inside of your chimney. The stuff that, when you open your flue, sometimes trickles down in a fine, powdery substance.

Did you know that it was flamable? I didn't.

In comes The Irish Sweep. I figured I would get down and dirty with Sally, the knower of all-things-chimney, and the owner.

Sally said there are some easy things that you can do to help maintain your chimney to keep it in good, running order. To watch a cleaning in action, and to hear some of Sally's important tips, click on the video link above. And to contact Sally and her crew of amazing workers, visit http://www.theirishsweep.com/.

Real Estate is like the San Francisco 49ers

2008-09-29T14:26:00.000-07:00

I love the 49ers. I've been a Niner's girl for a long time. Each week I watch with hope, excitement, and anticipation...anticipation for that almighty touchdown. Of course, most weeks they don't come through.

But look at the history of football...football can be categorized in cycles: some weeks you are up, some you are down. Some seasons you are up, some seasons you are down.

The ultimate goal for football players is to reach the light, the great Oz, the Super Bowl. Each year the niners get better, then they falter. Then they get better. Then they falter. But soon, they will be back at the Super Bowl. (Come now, ye of little faith!) How could they not? They were the first team to win a record 5 Super Bowls.

Housing and economic cycles are also characterized by long periods of ups and downs. Today the dow closed 777 points down. Home resales are down. Average sales prices are down. Foreclosures are up. The Niners stink (did I say that?).

Catch my drift?

The Dow has historical drops every seven years. Most real estate agents suggest you hold your real estate seven years. The Niners? Well, clearly they are overdue.

"What the hell is Krista talking about" you say? Right now the future appears dismal for many homeowners and Niner's fans alike. Fear, concern and doubt plague most who read the headlines. Just like I have hope for the Niners, I have hope for Bay Area real estate. My advice to you is to hold on tight. Afraid? Stop reading the headlines and start talking to professionals. In trouble? Keep fighting.

The good news? The Niner's can't get much worse.

Grand Opening of Five Fields Sports Complex @ Gilman

2008-09-22T12:04:00.000-07:00

Five years ago five cities came together to address the challenge of a shortage of sports fields in the region. The cities of Richmond, El Cerrito, Berkeley, Albany and Emeryville came up with this: Develop a regional sports complex at the intersection of I-80 and Gilman Street in northwest Berkeley.

Earlier this month the leaders and politicians of each of these five cities cut the ribbon at the new $7 million sports complex.

Officially named the Tom Bates Regional Sports Facility, the complex includes conservation features and will include two lighted synthetic fields, built to accommodate soccer, rugby, and lacrosse and three non-lighted grass fields that can be used for baseball.

Ode to the stock market cloud

2008-09-15T14:34:00.000-07:00

The stock market went bonkers today.

I hope you aren't flipping assets.

How does someone who is looking to buy or sell a house decipher what is happening on Wall Street? How will all of this turmoil affect them? Sure, it could, and probably will, mean lower interest rates, but any benefit on the housing market could be shadowed by higher unemployment and a lengthy recession if the credit crisis continues to shake down the economy.

Although the short-term consequences of an unstable stock market are real and uncomfortable, it is time to stop focusing on external noise and start focusing on what counts. I know, it sounds easy. But if Google can launch in a down market, then it is time to put on your boots and start kicking.

Bailout of Freddie Mae & Mac

2008-09-08T14:25:00.000-07:00

Rates dropped today about a quarter point, and are the lowest we have seen in 4 months. But just because money is cheaper, it still isn't easy to get a loan.

This article best articulates what all of this means:

http://www.nytimes.com/2008/09/08/business/08consumer.html?_r=1&ei=5070&emc=eta1&oref=slogin

Struggling homeowners worry about credit score

2008-09-08T10:43:00.000-07:00

Aye aye aye. It's a sign of the times. Over the last year and a half, the mortgage market has undergone more changes than in any comparable period since the Great Depression of the 1930s. The current housing market malaise has some homeowners up in arms. With the threat of losing their house on their shoulders, the idea of burning their credit is unnerving.

Just how do Morgage Lates, Short Sales, Foreclosures and Bankruptcies affect your credit?

Vince Wirthman of 1st Western Home Loans in Berkeley gave me the following information:

Mortgage Late Payments:

1. Credit score can drop 100 - 180 points.

2. Other credit interest rates could be affected (credit cards, equity lines).

3. No new mortgage for 12 - 24 months, depending on the circumstances.

Short Sale (Preforeclosure sale):
1. Credit score can drop 180 - 250 points.
2. Other credit interest rates could be affected.
3. No new mortgage for a minimum of 2 years, depending on the circumstances.

Foreclosure:

1. Credit score can drop 180 - 250 points.
2. Other credit interest rates could be affected.
3. No new mortgage for 3 - 7 years, depending on the circumstances.

4. Will need a minimum of 680 credit score and 10% down on next purchase.

Bankruptcy:

1. Credit score can drop 200 - 300 points.
2. Other credit interest rates could be affected.
3. No new mortgage for 2 - 4 years, depending on the circumstances and type of bankruptcy.

Vince can be reached at (510) 527-2840.

Are you being greenwashed?

2008-09-04T15:56:00.006-07:00

Everywhere you turn, it's green this, green that. I feel like my skin is turning green! But just how green are the products you are using?

I recently met with Becky Hatt, an Interior Designer with HAUS, an interior design and architecture firm which specializes in green building. "Companies are starting to capitalize on all of the hype surrounding the green movement," said Becky, "just how green are some of the products these companies are producing and what are their environmental practices? Perhaps the material is green, but was child labor used to manufacture it?"

"Bamboo, which is probably the most popular green material on the market, is readily available and is completely renewable. Just be sure the manufacturer didn't chop down another forest to grow their bamboo."

The industry has coined this "greenwashing."

When I sat down with Becky, she showed me some of the newest green options available in flooring, many of which are completely affordable. You can hear what Becky had to say by clicking below:

Becky has these tips on how you can avoid becoming greenwashed:

1. Look for wood floors with FSC (Forest Stewardship Council) Certification.

2. Bamboo is not the only solution: there is an amazing array of wood materials from sustainable sources.

3. Working with a professional who can really assess your needs, whether it is a designer or one of the great local environmental building centers, can help you achieve a great, sustainable solution.

You can reach Becky at:

Becky Hatt
haus
architecture + interiors
http://www.haus-design.us/

A call you will have to make

2008-09-02T10:32:00.000-07:00

You have the keys to your new house. The power is turned on, everything is moved in. Still haven't turned on your phone? Perhaps you shouldn't...

I don't think it will be long before landlines become a part of the landfills.

Today, 14% of American adults are using their cell phone as their primary phone line, no landline required. And with the onset of VOIP, voice over internet, routing calls over the internet couldn't be easier. In fact, 1:7 adults use VOIP as their primary landline supplement or replacement.

Vonage, AT&T, and Verizon all have plans available at around $25/mo, and TMobile has even introduced their version of VOIP for around $10/mo, but only if you are a subscriber.

So the pricing is reasonable, but what are the cons?

Well, as you know, cell phone reception in many parts of the East Bay is...well...non-existent. I can't tell you how many times I am on the 80 fwy @ Gilman, and for a split second, my phone cuts out. Thanks, AT&T.

VOIP requires electricity; if the power goes out, you have no phone service. In addition, it also requires a broadband connection. If your connection isn't great, then neither will the clarity of your calls.

I have VOIP at my house. It is pretty cool, but if I haven't retrieved the messages on my VM, then I can't fax. This is annoying when you are running a business from home. On the flip side, not only can I access these same messages remotely, but I receive an email when there is a message. Love it!

So before killing your landline, check cell phone reception in your 'hood and investigate your broadband. Is it worth the change? That is a call you will have to make.

Are you in a house-hunting, email coma?

2008-08-18T11:38:00.000-07:00

I am checking email. I am holding my breath. My heart rate goes up. My brain begins to whirl as I try to file the enormous amounts of email I have in my inbox: Who should I respond to now? Who can wait? Which should I delete? Another viagra email? Who should I call? How did I miss THIS email? Aargh.

I was talking with a client about this. Turns out she is the same way. Turns out there is a name for it.

Email Apnea.

Yes, you read it correctly.

So I googled it. And sure enough, it exists.

Email Apnea has been defined as "a temporary absence or suspension of breathing, or shallow breathing, while doing email."

It seems there is this woman, Linda Stone, who has been researching this. She says that email apnea can lead to all sorts of health-related issues, such as obesity and diabetes. Huh? She coined the phrase "continuous partial attention." Linda says, "We pay continuous partial attention in an effort NOT TO MISS ANYTHING. It is an always-on, anywhere, anytime, any place behavior that involves an artificial sense of constant crisis. We are always in high alert when we pay continuous partial attention. This artificial sense of constant crisis is more typical of continuous partial attention than it is of multi-tasking."

Fascinating.

So this same client who I was talking with is constantly looking for the best house out there. She is twittering, craigslisting, googling, zillowing...all in an effort to find the best deal out there. The process has been grueling for her. She is so afraid of missing the opportunity that she has tuned into the search 24hour/day. She found a house and wanted to put in an offer, then backed out for fear of finding a better one. She filed this house under the "check back" folder. Huh?

You get my point.

Sounds like we all need a little breather.

Woah, Nelly. That is some growth.

2008-08-13T09:53:00.000-07:00

Hold on, everyone. The headline in the paper this morning says "East Bay population continues to grow." 2.5 million. Yessiree, 2.5 million peeps living in the good ol' East Bay.

2007: 22,805 new people joined our culturally rich, food-savvy, have-you-changed-out-your-flourescent-lightbulbs-yet community. That is enough people to fill the city of El Cerrito alone.

This is an increase of 0.93% from 2006.

Here's the kicker: the growth didn't come from the kiddies. Last year there were 29,289 fewer East Bay kids between the ages of 5 and 13 than there were in 2002.

The median age in Alameda County rose to 37.1 in 2007, up from 36.8 in 2006, and in Contra Costa County, the median age was 37.9 last year, up from 37.8 in 2006 and 36.4 in 2000.

So what does this tell me? Looks like a few people are going to be needing homes this year.

Hello Red Oak

2008-08-08T23:53:00.000-07:00

I had an extraordinarily busy July- which is why I haven't had much time to blog. Part of the reason is that I have some exciting news. I know, I know, you can barely contain yourself!

After an amazing 2-1/2 years with Windermere Real Estate I have decided to move on with a different brokerage.

On August 4th I joined Red Oak Realty in Berkeley. Red Oak is a full-service, boutique brokerage and has been ond of the leading independent brokerages for over 30 years.

Never fear, you will still get the same great service from me, I just have a new name attached to my business card! What hasn't changed? My cell and website.
Speaking of websites, check out Red Oak's website, www.redoakrealty.com Here you can search for houses, sign up for listing watch, and more.

Thank you for coming along with me.

Becoming Green, Go Solar Water Heating

2008-06-26T22:08:00.000-07:00

Most of you know that I am becoming, well, green. And to some people (like 4 year old JJ) I have been green for awhile.

I am trying to do my part at protecting and sustaining the environment. Outside of the home I try to walk or BART as much as possible, I support local and green businesses, I combine errands by location, and I drive the hybrid as much as possible. Inside the house I started composting, I pack lunches in "Wrap-n-Mats" instead of wasting plastic bags, and we have cut the water pressure in half on all showers.

But there are some bigger things that can be done to your home. Think solar. Yes, we have all heard about the benefits of solar electricity and how it can drastically save you money on your energy bill. But going solar can cost some serious cash. Here is something you don't hear a lot about, solar water. Yup, a solar water heater. Huh?

Last month I had the pleasure of interviewing Martin Morehouse of Sun Light & Power. I met with Martin at the home of one of his current projects in Rockridge. Martin was kind enough to tell me a little bit about solar water heating and just how it works.

DID YOU KNOW?

Website rates "walkability" of a home

2008-06-25T13:35:00.000-07:00

With gas prices reaching an all time high (last week I paid $4.89/gal) people in Seattle are turning to a new website called http://www.walkstore.com.

The creaters of Walk Score measured the Walk Score of 77 Seattle neighborhoods and created a walkability map to help you find Seattle's most walkable places to live. The site sizes up restaurants, schools, parks, shopping and other destinations and then gives the neighborhood a score of 0-100.

Walk Score helps people find houses and apartments in walkable neighborhoods. Walk Score shows you a map of what's nearby and calculates a Walk Score for any property. Living in a walkable neighborhood is good for the environment and good for your health. Wouldn't it be cool if this was a feature of every listing that hit the market?

Visit www.walkscore.com to find out when Walk Scores will be available in your neighborhood.

Networking in the Blogosphere- is there any value left?

2008-06-23T22:56:00.000-07:00

Earlier this year I participated in a panel discussion at the California Association of Realtors in downtown LA. The topic? "Social Networking. Is there any value left?" I was humbled to be on the panel with such esteemed members of the real estate community.

This title now has me thinking, what exactly is social networking? Social networking for you may not be what it is for me.

Isn't it true that most people want to build a community, or if not build one, at least be a part of one? Isn't this social networking? You go to the local market, see your friendly checker, and while admiring her new haircut, ask where she had it cut. Isn't this social networking? Or perhaps you log onto your LinkedIn profile, search your contacts to see if they are connected to any financial planners, and then contact them. Isn't this social networking?

So is there any value left? Heck ya. So long as people have a desire for community, then social networking has value.

Click here to read the full panel discussion: http://www.car.org/index.php?id=Mzg1MjE= or check out the June/July magazine.

Important: New financial guidelines for investors

2008-05-22T12:27:00.000-07:00

Freddie Mac Cuts Maximum Number of Financed Properties

Freddie Mac recently announced guideline changes that will greatly affect residential real estate investors.
Beginning August 1st, 2008 the following changes will go into effect:
A borrower may not have more than four financed 1-4 unit properties, including the subject property.
For cash out refinances the borrower must own the property for at least six months prior to refinancing.
For a complete update on new Freddie Mac guideline changes go to:
http://www.freddiemac.com/sell/guide/bulletins/pdf/bll042208.pdf.

Hawaii Real Estate

2008-05-22T12:16:00.001-07:00

So I am back from my extended vacation. Spent some time in Maui and Kauai. While I was there my husband and I poked around at real estate, of course. We were suprised to discover that much of the land is still purchased using a land lease. What is a land lease? Wikipedia says that a land lease is a type of financial arrangement in which the ground under a structure is leased, rather than sold to the builder, meaning that the land and the structure are owned independently. So in essence you are buying the structure and paying a mortgage on it, and also paying a monthly fee to lease the land. We saw this fee up around $1000/month. Wow! So that is how Queen Liliuokalani can afford her jewlery.

NEW LISTING: 1 Lakeside Dr., Unit 412, Oakland

2008-04-05T16:37:00.000-07:00

Aye, what a messy closet you have

2008-03-31T14:18:00.000-07:00

Let me set the mood: I am with a buyer, we walk into a multi-million $ house up in the hills, admire the stunning views from the living room, imagine cooking dinner on the gleaming Viking Range, walk on the refinished hardwood floors through the hallway, open up a closet in one of the bedrooms and *BOOM* its time to duck and cover for fear of being hit by one of the many boxes or shoes stuffed into the closet- stuffed in there, probably, that morning.

Unbelievable.

They can't be serious.

How many times has this happened to you? Perhaps in your own home? You open those closets, and immediately shut them for fear of what you might find.

Bring in Dana Arkinzadeh, owner of DMA Organizing. I met with her last month and she had these great tips on how to maximize your closet space, AND keep it organized.

I think I should pass on her info to the owners and agent of the home in the hills.

Cool Quote

2008-03-14T14:14:00.000-07:00

I really like this quote:

"We spend January 1 walking through our lives, room by room, drawing up a list of work to be done, cracks to be patched. Maybe this year, to balance the list, we ought to walk through the rooms of our lives...not looking for flaws, but for potential." ~Ellen Goodman

The house that someone built

2008-03-13T18:24:00.001-07:00

Have you ever walked into a house, be it a friends house or a house you wandered into during a Sunday open house, only to think: Whut???

Yes, it happened to me today. Only this was during a broker's tour.

The outside is a typical home for the neighborhood: 1940's ranch style, surrounded by beautiful Oak trees and nice views of the Bay. But the inside, well that is a different story.

The front door was lean and tall and looked like it was off the pages of a Dungeons & Dragons board game, complete with ornate decorations. Walk straight ahead and you are in this crazy atrium compound complete with bright flowers, a fireplace, and little light. How can these beautiful Gerbera daisy's grow without any sunlight? Unless they were fake. Then you walk around the corner and it is like an entirely different house, but again, very low on light. Care for breakfast? You can eat it from the kitchen nook and look out onto the atrium where a fire crackles in the fireplace.

I don't quite understand what is happening in the house. A fellow colleague and I were discussing it, trying to figure it all out. We can only surmise that it was off the set of a movie and it was all a facade. It is unique with a capitol "U."

This is one of those times where I wish there were a website that would discuss the history of a particular home.

I imagine this house will fancy someone. To that someone out there, I'd love to buy you a cup of coffee and have a conversation.

My Technorati

2008-02-27T21:59:00.001-08:00

Technorati Profile

The nitty gritty on the short sale

2008-02-26T18:23:00.000-08:00

Short sales. No, they aren't sales that close quicker than the standard 30 days (by Bay Area standards). In a nutshell, a short sale is when the amount the borrower owes in loans is higher than what the property would sell for. Many lenders will allow the property to be sold for less than the amount owed on a mortgage and forgive the rest of what is owed.

Why on earth would a lender agree to such a thing?

Banks are in the business of lending people money, not owning their homes. By agreeing to a short sale the lender can avoid a lengthly and often costly foreclosure, with the owner paying off the loan for less than what is owed on it.

Each lender will have its policies and procedures for handling a short sale and the process can be lengthy, sometimes taking up to 3 or 4 months to complete. They will want a plethora of documents, so for those unorganized folk out there, you may need to hire a personal organizer to help you sort through everything. Most won't even begin the process until there is an offer on hand.

Alameda and Contra Costa Counties have been deemed "declining markets" by the lender-powers-that-be. Oh man. That doesn't sound so good. And it appears that areas of declining markets are also areas high in short sales. This does not bode well for Oakland, one of the leading cities in both foreclosures and short sales.

Up against the possibility of a short sale? First step: call your bank.

Now this is some scary juice.

Foreclosure, any options?

2008-02-13T11:21:00.000-08:00

The big "F" word, foreclosure. This word is becoming a part of many consumer's realities. But for many homeowners, they just don't understand what it really means. And most are generally unaware that they have options.

Check this out:

Foreclosure and Default Data, Alameda County:
January 2007-August 2007

Alameda: 16 foreclosures, 57 defaults
Albany: 6 foreclosures, 17 defaults
Berkeley: 33 foreclosures, 104 defaults
Castro Valley: 42 foreclosures, 129 defaults
Dublin: 34 foreclosures, 154 defaults
Emeryville: 44 foreclosures, 106 defaults
Fremont: 122 foreclosures, 455 defaults
Hayward: 199 foreclosures, 718 defaults
Livermore: 74 foreclosures, 281 defaults
Newark: 36 foreclosures, 179 defaults
Oakland: 466 foreclosures, 1529 defaults- *yikes!*
Piedmont: 10 foreclosures, 51 defaults
Pleasanton:18 foreclosures, 92 defaults
San Leandro:82 foreclosures, 340 defaults
San Lorenzo: 41 foreclosures, 119 defaults

(source: http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2007/10/14/REALAMEDA.DTL)

Is the "F" word in your future? Well you aren't alone. Even Michael Jackson's Neverland Ranch is facing foreclosure.

If you are unable to pay your loan, put aside any fear or embarrassment you may have because there are options.

Here is a link to a recent article from InmanNews.com. I think it was well-written and is easy for the consumer to understand. Contained within the article are some options for those who are facing foreclosure.
http://www.inman.com/hstory.aspx?ID=66083

Tasty Pumpkin Curry

2008-02-07T14:33:00.000-08:00

Oh boy, the BEST pumpkin curry can be found at Bua Luang on Solano Ave. in Albany. It is fresh, tasty, and there is a generous amount of pumpkin. And their fried sweet potatoes? Oh man, you gotta try them. Perfect place to eat lunch after a long morning of touring homes.

Catch me on Forum- NPR Radio

2008-02-03T21:10:00.000-08:00

On January 25th I was part of a panel on KQED's Forum.

"In light of ongoing housing woes and with real estate sites popping up daily on the internet, we look at the evolving role of the realtor."

Host: Dave Iverson
Guests: Enrico Moretti, associate professor of economics at UC Berkeley and co-author of "Can Free Entry Be Inefficient? Fixed Commission and Social Waste in the Real Estate Industry," published in the Journal of Political Economy; Jorrit Van der Meulen, vice president of partner relations for Zillow.com; Krista Miller, real estate agent with Windermere Real Estate of the Bay Area; Rick Turley, president of the San Francisco Peninsula Region for Coldwell Banker Residential Brokerage.

Listen in: http://www.kqed.org/epArchive/R801251000

It was an interesting experience. I was able to give my opinion, but it was done over the phone. Debating while on the phone (yes, we were all tapped in via land lines) felt detached. I had a hard time remembering what point I had just made as there wasn't a REAL dialogue, it was me and this entity, or voice, on the other side. But I made some good points and overall the forum went well. I hope you will tune in.

In the mind of a buyer...

2008-01-31T13:56:00.000-08:00

There was a great house on tour today: 748 Elm in El Cerrito. 6 bedrooms, 3 baths, partially updated, nice neighborhood, 2100+ square feet, $645,000.

So WHY is it still on the market?

It has been on for quite some time and has seen numerous price reductions. I spoke with the agent today to get a glimpse into what he was seeing, or wasn't.

He has had two buyers interested, but as soon as they saw the disclosures decided that the $15,000 of foundation work needed wasn't worth their time. They both felt this way. I am sorry, but $15,000 in foundation work is nothing, especially when the tradeoff is a 6 bedroom home!

So what are buyers looking for in today's market? One buyer I spoke to said that he is looking for a deal, something that doesn't need work, and something in a good neighborhood.

Aren't we all?

I think what it is really coming down to is that buyer's are waiting for the "bottom" to happen. I so wish I had a crystal ball and could tell you when that will be. Unfortunately the only way to know is when we start heading back up.

There are some really great deals out there now. Rates are the lowest they have been in 4 years and inventory is high. And just because it needs some work doesn't mean it isn't a good deal.

Welcome back

2008-01-24T16:00:00.000-08:00

After returning to work from a nice, long holiday vacation, what do I see in the headlines?

1. "Feeling Misled on Home Price, Buyers Sue Agent."
2. "Foreclosures are up by 67.8% nationwide."
3. "World Braces for Subprime Fallout."
4. "Hold on for a Recession."

Wow, this is depressing. No wonder the housing market is in trouble. Look at what the media is doing to it.

This is what my client sees first...the headlines. Most of my clients are internet saavy and begin a lot of their research online and can't help but see the headlines. What is my response? Don't believe everything that you read. Sure, there is truth to a lot of it, but if the media didn't make it "interesting," then no one would read the papers anymore.

For me, this opens the door for conversation.

Our market is still a unique one, a "boutique" market if you will. I am still seeing multiple offers out there. Sure, they are no longer a dime-a-dozen, but they are there. In fact, one client just lost out on a house in the Temescal to 4 other offers...and she was all cash and over the asking price.

So go ahead and read those headlines, but remember that the media is also a business, and without intriguing headlines to get people to pick up the paper, they would have no business.

Conforming loan limits remain the same- gee thanks

2007-11-27T10:12:00.000-08:00

The good ol' folks in DC announced today that the maximum 2008 conforming loan limit for single-family mortgages purchased by Fannie Mae and Freddie Mac (the all-mighty Enterprises) will remain at the 2007 level of $417,000 for one-unit properties for most of the U.S.

Higher limits apply to Alaska, Hawaii, Guam and the U.S. Virgin Islands as well as to properties with more than one unit.

Helloooooo people over there...with median home prices in the Bay Area running in the mid 6's, that won't help much. You can barely even find a condo here for $417,000! Yes, prices are falling in general, but not everywhere.

Here is the good news: In October, powers that be (Office of Federal Housing Enterprise Oversight) said it would leave the conforming loan limit at $417,000 in 2008, no matter how drastically prices declined in 2007. But if cumulative home-price declines in 2006, 2007 and 2008 exceeded 3 percent, the limit would be adjusted accordingly in 2009, OFHEO proposed. In addition, a bill approved by the House in May, HR 1427, would allow Fannie and Freddie to securitize loans up to $625,000 in areas where the median home price exceeds the conforming loan limit.

Is this really good news? Let's listen to the market and see.

Childproof your home in minutes!

2007-11-20T17:40:00.000-08:00

So my daughter is becoming mobile. I got down on all fours, which, coincidently is right at her level, and went exploring through my house. Oh the things that I saw. Oh man, we are in for it.

As I am taking her around to other people's homes I am realizing how unsafe many homes are for the tots in our lives. The holidays are upon us...is your home safe for all of the new additions to the family?

I recently had the pleasure of meeting Mark Altman, founder and owner of The Childproofer, a company which specializes in creating safer spaces for kids. I met Mark at the home of one of his clients and was able to see firsthand how important it is to make sure your home is safe.

Click the following link to hear a few things Mark has to say:

And be sure to check out www.calpoison.org/public/plants.html to see if you are housing any poisonous plants in your home.

Be safe and happy holidays.

My new assistant

2007-11-05T13:01:00.000-08:00

"Are you looking to buy or sell a house? Then talk to my Mommy." ~Melia

Ok, so I haven't been blogging lately. Why? do you ask? Well...many of you know, but some don't, that I had a baby girl in June. Yup. I have added an adorable little assistant to my team. Her name is Melia. She is a superstar and the best sidekick a mom could ask for. She comes with me everywhere: on tour, to show property, and she has even been to several signings since being born!

Please help me in welcoming Melia to the world of juicy real estate.

Historical Real Estate Market Quotes to Ponder

2007-06-04T12:17:00.000-07:00

1947: "The prices of houses semm to have reached a plateau and there is reasonable expectancy that prices will decline. " -Times Magazine

1948: "Houses cost too much for the mass market. Today's average price ($8,000) is out of reach for 2/3's of all buyers." -Science Digest

1969: "The goal of owning a homes seems to be beyond the reach for most americans ($28,000). -Business Week

1981: "The era of easy profits in real estate may be drawing to a close." -Money Magazine

1985: "If you are looking to buy, be careful. Rising home values are not a sure thing anymore." -Miami Herald

1986: "Most econonmists afree...a home will become little more than a roof and a tax deduction, certainly not the lucrative investment it was." -Money Magazine

1993: "We're starting to go back to the time when you bought a home not for it's potential money-making abilities, but rather as a nesting spot." -Los Angeles Times (note that 1993 was the absolute low-point for real estate values in Los Angeles. Prices have sky-rocketed since.)

1993: "Financial planners agree that houses will continue to be a poor investment." -Kiplinger's Personal Financial Magazine

1996: "A home is where the bad incestment is." -SF Examiner

So what does this mean? Because real estate is cyclical it can never be a bad investment.

Whatcha gonna do wit all that junk?

2007-05-14T16:05:00.000-07:00

Got junk? Don't know what to do with it? If you live in San Francisco, people will just throw it on the curb with a sign that says "free" and know that someone will take it. But here in the East Bay, we have some other options for you.

WOMEN'S DAY TIME DROP IN CENTER

WDDC is located in Berkeley and is a drop in center for homeless women and children. They are looking for slightly used living room furniture, pots and pans, and they can always use women's toiletries, diapers and formula. New clothes gladly accepted. http://www.womensdropin.org/

1-800-GOT-JUNK

They will take away almost anything – from old furniture and appliances to yard waste and renovation debris – including many things that your local garbage company won’t typically accept. www.1800gotjunk.com

STOPWASTE.ORG

Got e-waste, such as computers, tv's, printers or cell phones? Got medicine or thermometers? Go to www.stopwaste.org to find the next e-waste drop off event. Click here for a catchy tune by Jack Johnson on the 3-R's: reduce, reuse, recycle.
http://www.artistdirect.com/nad/window/media/player/0,,3517839-7558494-WMLO,00.html

ALAMEDA COUNTY COMPUTER RESOURCE CENTER

http://www.accrc.org/

Household Electronics Pick-Up Service
Free for Berkeley residents. If you reside in Berkeley, they will come pick up your household electronics at no charge. Call the Electronics Pick-up Line at 528-4755 and leave a voice mail. If you live outside of Berkeley, AND even outside of California, go to the website to find out how to get rid of your computer.

BANANAS, INC.

Got old toys your little ones no longer play with? Consider donating them to BANANAS, a child care resource and referral service located in Oakland. http://www.bananasinc.org

JUNKBUSTERS.COM

Telemarketing, junk mail, spam, junk faxes- get rid of 'em. http://www.junkbusters.com/

Happy Spring Cleaning!

To arm or alarm?

2007-04-17T17:53:00.000-07:00

One of the worst things about showing a house is when there is an alarm on it. Sure, the listing agent does their best to explain to you how to deactivate it, but that doesn't always help when your heart rate is shooting through the roof and all you can hear is the "beep...beep...beep."

At one house, neither the client nor I could find the keypad. So we set it off.

At another house, I made my client punch in the code.

Just recently, I came across a lockbox that, as soon as I opened it, said "alarm code 1524." Just great. Thanks, dear listing agent, for putting a note into the MLS!

If you are a seller, what does an alarm mean to a potential buyer? We certainly know how I feel about it. But what about the buyer? This past weekend I took out a client who was from out of town. His comment? "Is this a bad neighborhood?" We were in the Berkeley Hills.

Here is the flipside: if a buyer walks in and sees the alarm pad, but it isn't activated, they want to know if it works. They like the idea that their home could have an alarm.

But if it does have a working alarm, and it's on, panic sets in.

My advice is to turn off the alarm while it is on the market. Is their something you are protecting? Valuable artwork? Jewlery? If so, you should be removing all valuables from your home anyhow as they could become damaged or stolen. Consider setting set hours for agents to bring clients to your home; during that time the alarm is deactivated. Then when you are home, activate it.

If you do not have an alarm, but are thinking about getting one, many home security companies will offer a free security assessment of your home. Most alarms companies charge an installation fee (I've seen them as low as $300) and a monthly maintenance fee. But if an alarm isn't your forte, perhaps you should consider a dog.

Don't let those credit bureaus exploit you!

2007-04-10T09:24:00.000-07:00

Here are some facts about credit bureau's:

1. Credit bureaus sell elads to banks and mortgage companies

2. Pricate information divulged includes address, phone number, and credit score

3. Banks pay $25 - $100 per lead

4. No legislation exists yet to prevent bureaus from selling leads

5. Onslaught of unsolicited marketing as soon as the loan application si submitted

6. May lower your credit score 10 to 15 points

7. Opt out! www.optoutprescreen.com

The East Bay market- it's on fire!!

2007-03-08T19:24:00.000-08:00

It's hot, hot, hot! Despite what the media has portrayed over the past 6 months, our market still has its game.

Last week a 2 bedroom/1 bath home in El Cerrito had 8 offers.
Two weeks ago a condo in North Oakland had 5 offers.
This week a 2 bedroom/1 bath home in the Berkeley Hills had 16 offers.
Next week? I predict multiple offers on a tiny house on Everett in El Cerrito and even more offers on a "deluxe fixer" in Rockridge.

Bubble? Not in my hood!

But isn't this what happens every Spring? Part of understanding where we are is looking at where we have been. Let's look at the number of solds over the last 3 years:

..............Feb .....Mar .....Apr ......May
2005 ......256 ......406 ......437 ......435
2006 ......226 ......306 ......356 ......366
2007 ......194

March and April are generally peak times in the market. But why now? Why in the midst of foreclosures and lower sales are we still seeing multiple offers? Because the buyer's never left. And the money is still cheap. And it's the Bay Area, land of...well...no land.

Ode to February

2007-02-27T18:50:00.000-08:00

Goodbye February, Hello Mayor!

1. Unbelievable. Did you know that some 14 percent of all Americans have more than 10 credit cards? This according to a recent study conducted by Experian Consumer Direct, a leading provider of online direct-to-consumer credit reports, scores and monitoring products. When will all of this crash the economy?

2. Phew! Mortgage rates eased back down as the month draws to a close. The 30-year fixed-rate mortgage averaged 6.22 percent for the week ending Feb. 22, down from the previous week when it averaged 6.3 percent. Last year at this time, the 30-year FRM averaged 6.26 percent. Hip hip hooray! Lock in this low rate today!

3. Multiple what? We are seeing moderate activity throughout most areas of the East Bay. This past week alone I have seen multiple offers on homes, including one in Oakland and one in El Cerrito. In Berkeley, more units have gone pending in the past week than we have seen in the past few months.

4. Bubbles are for baths. The media still hasn't determined whether or not there is a bubble- they are at war with themselves.

5. JetBlue- who? sent out personal emails, went on local talk shows, and even posted a video on YouTube apologizing for their "miscommunication" flaws following the recent irreverent weather conditions on the East Coast. Gee, thanks.

6. More goo. www.gootube.net, an online real estate video portal, complete with the google mapping system, is released.

7. Go orange! The American Institute of Architects' 150th anniversary celebration included our very own Golden Gate Bridge as one of the top 150 architectural gems.

8. Senator Hillary Clinton officially announced her candidacy for president and took the stage in presidential real estate politics. Sen. Clinton will co-sponsor a bill which will bar banks from real estate brokerages. Woah, Nelly! Could someone in politics actually be in favor of Realtors and consumer concerns?

9. Unzip the zillows. Zillow. com is under scrutiny once-again. There is a new phrase attached to Zillow- "unzillowable." If something is unzillowable, it is unable to be valued by the popular website zillow.com. Items which determine value include noise, traffic, views, paint, and the neighbor's dog. Wouldn't it therefore be plausible to say that no property can obtain an accurate "zestimate" from Zillow?

And finally, #10. It isn't real estate related, but it is definately noteworthy.

10. Gavin Newsom...need I say more?

Chicken and Waffles?

2007-02-22T15:13:00.000-08:00

Many of you who know me know that I love food! If you are looking for a taste of retro East Oakland, look no further.

Today I had lunch with some clients at Merritt Bakery in Oakland. I have had their cakes, but never actually sat down at the restaurant.

The hostess, who called me "hon," immediately looked at us and with a wink and a smile, said "Feel free to sit wherever!"

We went towards the back. The menu offers a large variety of typical diner food: Fried Chicken (I think there were 4 peices) complete with corn, potatoes, and a salad. Or how about the HUGE Club sandwich with enough meat to feed a family of four.

But that isn't what people come here for. It's the house fav: Chicken "n" Waffles.

It comes with 2 pieces of mouth-watering fried chicken and an enormous waffle- all piled on top of each other- and a bottle of syrup on the side. Who can resist this?

Committed to their neighborhood, this downhome diner is a part of Oakland not to be missed. The next time you are taking a walk around the lake, stop by for a piece of pie.

Merritt Bakery
203 E. 18th. St. (at 2nd Ave & 3rd Ave)
Oakland, CA 94606
(510) 444-6955

HESA Do's and Dont's For Agents and Brokers

2007-02-21T19:55:00.000-08:00

It's all over the news: foreclosures are on a rise throughout the state. A foreclosure is started with a lender records a Notice of Default, or NOD, against a property. Agents and brokers beware--if a NOD has been recorded against the property you must adhere to the Home Equity Sales Act.

In order for HESA to apply, there are four conditions that need to be met:

1. Residential property (1-4 units)
2. Owner occupies one unit
3. Notice of default recorded
4. Buyer does not intend to occupy

Items to note:

1. The seller must be given notice that he/she has a statutory five day right to cancel the purchase agreement.
2. No agent can represent a buyer in such a sale without securing a bond - which is not currently available.

What to do:

1. Ask that the title company provide a Property Profile and have them include any recorded NOD's.
2. Highlight any recorded NOD's on the Preliminary Title Report
3. On a regular basis, check for newly recorded NOD's

With foreclosures on the rise, I think it is important that all consumers, not just agents and brokers, know about this. Buyers and Sellers alike need to understand that if all four of the above conditions have been met, an agent cannot represent you in this sale.

An offer I can't refuse

2007-01-30T16:28:00.000-08:00

Why are garage sales called "garage sales" yet they rarely take place in the garage?

I recently came across an advertisement for a garage sale that said "What would you pay for this?" No item came with a price tag attached to it; buyer's were the one who decided how much to pay for it. There was no haggling or negotiating. The interesting thing was the person running the garage sale thinks he made more money doing it this way. People paid more for some of the junk than he would have priced it at.

How about marketing a house this way? "Look at the comps then tell us what you'd pay for it. All reasonable offers will be considered."

What do you think?

I don't think a seller would go for it, but it sure is an interesting thought...

Marketing for the new generation

2007-01-22T15:05:00.000-08:00

Give me your best marketing pitch and tell me why it works.

I've had to get a little creative with my listings. It seems every listing agent has a website (www.123Main.com) for their listings these days, and some even have a virtual tour. But in this here "Information Age" my clients want more. Something different. Something that "tells it like it is."

I was checking out YouTube one afternoon and came across a video of this guy who was taking the viewer on a video tour of his neighborhood. Then it hit me. Why not do the same thing for my listings? So I did a quick search and realized that very few agents were doing this. Seize the day!

I took my little PowerShot camera, turned it on video mode, and did an unedited walking tour of the house. It was raw, uncut, and REAL. You could hear everything from the traffic on the street to the clicking of my heels on hardwood floors. Here is a sample:

http://www.youtube.com/watch?v=G0QFMqurAk0

Whaddya think?

So I did it again on another listing. This time, something amazing happened! The Contra Costa Times found my YouTube video via CraigsList. They wanted to write an article on what I was doing. Here is a link to that:

http://www.contracostatimes.com/mld/cctimes/business/16220381.htm

Two days later, KCBS AM740 calls up and wants to do an interview to air on the radio. Wow! Ok, why not?

http://podcast.medianext.com/stations/kcbs/media/mpeg/Real_Estate_Agent_Hip_To_YouTube-1166034480.mp3

So then...KRON 4 calls! Ok, this is getting a little crazy. It seems I am on to something here. Click here to see me on the 6:00 news, Dec. 23, 2006:

http://www.youtube.com/watch?v=Py1RLRYzgcs

But wait, NBC 11 wants to do a feature story on what I have been doing.

Creative marketing? You betcha! So why does this work? It's new, it's hip, and it sells. Just ask the buyers of my latest listing.

Where will the market go in 2007?

2007-01-05T18:04:00.000-08:00

This just in...California, on average, will post a decline in appreciation. It was bound to happen: what goes up, must come down. But just how far down are we talking?

It depends on who you ask.

The California Association of Realtors believe the median home price in California will decline 2% to $550,000 in 2007 compared with $561,000 for 2006; in addition, sales are projected to decrease 7 percent to 447,500 units, compared with 481,200 units in 2006.

The economist with the brightest outlook, Scott Anderson of Wells Fargo & Co., says housing prices will rise next year, maybe by as much as 5 percent.

On the other end of the spectrum, consultant Christopher Thornberg of Beacon Economics says he doesn't expect any significant appreciation until 2011 at the earliest.

David Lereah, chief economist for NAR, expects a moderate upward bounce after the cooling trend of 2006. The size of the bounce will be heavily dependent on how high interest rates rise and their impact on job creation.

Hmmm...so who is right and who is wrong? We will have to wait and see.

Here is what I do know:

The Bay Area as a whole is still strong. We live in one of the most eclectic, exciting and friendly places in all of California. People still want to live here. We have the best restaurants, universities, and recreation (I still live with the hope that I can add the 49ers back into this list). Yes, the market here has changed. Homes that are well priced are still receiving multiple offers, but not as many as a year ago. Many homes are sitting on the market longer, receiving one or no offers, and sellers are faced with having to reduce the price. The good news is that this shift in the market, along with historically low interest rates, makes for a great market for buyers. And how about investors? Perhaps there will be a resurgence...

Stay tuned.

Top 10: Real Estate Reading 2007

2006-12-21T18:17:00.000-08:00

Give one as a gift or curl up on a couch with one. Here is the San Francisco Chronicle's top real estate books of the year.

1. "Trump Style Negotiation" by George Ross. This book offers insights into Donald Trump's big-thinking negotiating style.

2. "Buy Even Lower" by Scott Frank and Andy Heller. Aimed at investors. This book shows how to buy single family houses targeted at below-market prices.

3. "The Automatic Millionaire Homeowner" by David Bach. Shows how home ownership can lead to wealth. If you only read one book on this list, list should be it.

4. "Real Estate Debt Can Make You Rich" by Steve Dexter. For buyers and agents who want to understand the inner-workings of the morgage industry and for investors who need to know how "good debt" can be created to maximize profits.

5. "Bubbles, Booms, and Busts" by Blanche Evans. This book explains the signals of local rising, falling or neutral local home sales markets.

6. "Success as a Real Estate Agent for Dummies" by Dirk Zeller. Explains the ins and outs of selling real estate.

7. "Who Says You Can't Buy a Home?" by David Reed. Explains how mortgage lenders look at borrowers in this tell all book.

8. "Everything to Know Before Buying a Co-Op, Condo, or Townhouse" by Ken Roth. The author shares personal experiences and explains pros and cons of this type of ownership.

9. "Confessions of a Real Estate Entrepreneur" by James A. Randel. This book explains how to add value to real estate.

10. "The Reverse Mortgage Advantage" by Warren Boroson. Explains all aspects of senior-citizen reverse mortgages and emphasizes on the potential pitfalls as well as the benefits.

HONORABLE MENTION:

1. "Trump: The Best Real Estate Advice I Ever Received" by Donald J. Trump
2. "Find It, Fix It, Flip It!" by Michael Corbett
3. "Landlording on Auto-Pilot" by Mike Butler
4. "Two years to a Million In Real Estate" by Matthew A. Martinez
5. "Home Buying for Dummies, Third Edition" by Eric Tyson and Ray Brown

Heritage Turkey's? Find the history of your home.

2006-11-29T18:07:00.000-08:00

Have you heard of a Heritage Turkey*? Heritage Turkeys are raised free-range on pasture and forage, they develop much stronger legs, thighs, and breasts than industrially-produced turkeys, which have mostly breast meat. The resulting meat from these Heritage birds is very firm and dark in color, as well as being succulent, rich and flavorful. They also come with a sort of "birth certificate" that tells you the entire history of where the bird is from.

Wouldn't it be great if your house came with such a certificate?

Understanding the history of your house is not just about particular dates and people, its also about historical trends and patterns. Which ethnic group settled in your area? When did they arrive? Where did they come from? What local resources were available for construction? What were the prevailing architectural trends of the time? Answering these and many other questions will provide important context before you begin compiling the particular history of your ho use.

Other questions to answer before you get started:
Where is my property located?
When was the property developed and the house built?
Who was the original owner and/or occupant of the property?
Who were the successive owners and/or occupants of the property?
Who was the architect/builder?
How has the property changed over time, and how has the house been altered?
Were the original or successive owners and/or occupants noteworthy?
What was the role of the property in the context of the history and development of the neighbourhood and/or the city in which it is located?

Sources for answers
Neighbourhood and community sources
Look at your deed or tax bill
Talk to previous owners, neighbors, and long-time residents
Visit the local library
Talk to your city's historical society
Consult the Local Architectural Conservation Advisory Committe
Your local archives
Directories, atlases and maps
Assessment rolls
Building permits
Architectural drawings
Pictures and photographs
Land records
Census records
Newspapers

Good luck!

*Heritage Turkeys can be purchased locally from the Pasta Shop on 4th Street in Berkeley, as well as other locations throughout the Bay Area.

America's Safest Cities

2006-11-16T20:19:00.000-08:00

SIX CALIFORNIA CITIES LISTED AMONG AMERICA'S 25 SAFEST

Six cities in the state of California -- more than any other state -- are among the top 25 safest cities in America, according to the 13th annual Safest City Award.

California's "safest" cities are Mission Viejo (#3), Irvine (#7), Thousand Oaks (#11), Lake Forest (#15), Simi Valley (#17), and Chino Hills (#21).

Brick, NJ, was named "America's Safest City."

The Safest City Award is based on a city's rate for six basic crime categories: murder, rape, robbery, aggravated assault, burglary and motor vehicle theft. All cities with populations of 75,000 or more that reported crime data to the FBI for the six crime categories were included in the rankings. In this year's survey, 371 cities were considered for the award.

So what if Bay Area cities weren't on the top 10? We still have the best restaurants, recreation, and entertainment a city could offer!

Does that drip keep you up at night?

2006-11-16T18:54:00.000-08:00

The past decade has proven an increasing demand for water in our homes, industry, and agriculture, resulting in water shortages in many parts of the United States.

In certain parts of Texas homeowners can only water their lawn on Thursday's between 5pm and 10pm.

One can only assume that this upward trend will continue and this, together with the effects of global warming and the climatic uncertainties of the future, increase the need to conserve and carefully manage our water supplies.

Fast facts about the water in your your home:
-Older toilets use 3.7-7 gallons per flush
-Dishwashers use 8-14 gallons per cycle
-Top-loading washing machines use 45 gallons/load
-A dripping faucet wastes 15-21 gallons per day

-US water users withdraw enough water to fill a line of Olympic-size swimming pools reaching around the world EVERY DAY (300 billion gallons)

-Although our planet is 71 percent water, humans depend on a mere .65 percent of the water for survival – much of which is polluted.

-About a quarter of the nation’s largest industrial plants and water treatment facilities are in serious violation of pollution standards at any one time.

-An estimated 7 million Americans are made sick annually by contaminated tap water; in some rare cases this results in death. (Bay Area water is some of the safest in the nation)

How can you help conserve?
EBMUD offers a variety of conservation resources such as landscaping, toilet and washing machine rebates. For more information visit http://www.ebmud.com/conserving_&_recycling/residential/.

Please also visit www.greenbuilding.com.

Payback for remodeling?

2006-11-06T19:32:00.000-08:00

"Help! If I remodel my kitchen will I recoup the cost when I sell?"

The “Cost vs. Value Report” is published each year by Remodeling Magazine and gives you a city-by-city guide on what 25 common remodeling projects will pay back at resale in 60 U.S. markets.

The project with the highest resale potential in the Bay Area? Replacing wooden windows, which costs about $13,578 with a resale value of $17,384, a 128% recoup-rate. Next was a minor kitchen remodel, with 126.2% recovered. Nationally, the average percent recouped for windows is 85.3% and 85.2% for the kitchen.

The least resale potential for the Bay Area? Adding a sunroom. Just don't even bother. Perhaps a fogroom would make more sense.

Are you thinking about a remodeling project? Be sure to consider your own needs and desires as well as those of the home’s future inhabitants. “Keeping up with the Joneses can be a savvy investment move,” said Stacey Moncrieff, editor, REALTOR Magazine. “But ultimately, the best reason for a remodel is to enjoy it.”

To view the entire report, contact me. I will be in the kitchen, remodeling.

Give a dog a bone

2006-10-29T14:35:00.000-08:00

Just sold: Brand new, custom home with hardwood floors, recessed lighting, custom paint and a flat screen TV. Sales Price? $13,500.

Think you can't afford a home in the Bay Area? Maybe not for yourself, but you certainly can for your four-legged pooch.

Ranging in price from $800 - $25,000, doggie duplex's, cottages, and mansions are all the rage. A recent article in BusinessWeek.com (10/18/06) stated that pet owners will spend $38.4 billion on their animals in 2006, up nearly $10 billion from 2001. Forget the lambskin blanket; it appears that what your dog really wants is a custom-built home.

Electricity, hardwood floors, faux rugs, and windows are just a few options designers will include. One such San Francisco based designer requires a personal interview with the would-be owner.

In an interview with Businessweek.com, Michelle Pollak, a designer for La Petite Maison, said "One client had us send paint samples to let the dog choose the color. The client put down three paint chips and saw which one the dog went to first," Pollack says. Nevermind that dogs are colorblind.

Donald Gorbach, real estate broker and owner of "Doggie Mansions," will even pay real estate agents and brokers an unprecedented 10 percent commission on every home they sell.

Agents, if you are having trouble selling the real deal, try selling one of these.

Resources:
www.businessweek.com
www.doggiemansions.com
www.lapetitemaison.com
Picture from La Petite Maison

Mr. Bubble is for the tubs: 2007 Market Forecast

2006-10-24T21:10:00.000-07:00

Hmmmm...so the results are in.

The median home PRICE in California is expected to drip, er, drop 2% in 2007 while home sales will drop 7% compared to 2006.

But what about us here in the Bay Area?

Chris Thornberg, an economist with Bay Area-based Beacon Economics claims "The market is flat and the bubble has popped." Ouch, that is harsh.

While the market has clearly downshifted from record-breaking sales of the past 4 years, what we are seeing isn't a pop, but a smooth landing, perhaps with a little turbulence. Even though the market is tipping towards buyers, here in Berkeley and Oakland, it is still possible to see multiple offers. What? Multiple offers? Even this past week a home in the El Cerrito hills had 7 offers! Why? Price. What was that? PRICE.

Over the past year the real estate market was characterized by a gap between buyers and sellers. Buyers no longer feel a sense of urgency because inventory is higher; sellers, despite sensing a decline in the market, are still hoping to capitalize on their equity, even at the risk of taking longer to sell.

Since last month we've seen interest rates go down, the stock market go up, and gas prices go down. September's sluggish market seems to have given way to a much more promising October. Buyers are much more optimistic and sellers are getting realistic with their pricing strategies. PRICE. To be successful in today's market, you may need to look beyond the media frenzy and just have patience. Could we be looking at a revival of the Bay Area's entry-level market? Buyers can only hope.

I Tube.. We Tube.. Googles for YouTube

2006-10-20T15:27:00.000-07:00

This just in. Google acquires YouTube.com for $1.65 bil. But I bet you already knew that. Not too shabby for a company that hasn't even seen a profit!

Now we can call it GooTube.

Well, I posted a "tube" for the first time today. It is a listing I have in Oakland. Check it out.
http://www.youtube.com/watch?v=G0QFMqurAk0

Kinda fun and quirky.

The crazy thing about this video entertainment portal is that it has forever changed the way people consume media and branding. My husband posted a goofy video he took of birds attacking a squirrel in our front yard. http://www.youtube.com/watch?v=4OxpJGB61ro As of today nearly 200 people have viewed it and 2 people have even linked it to their personal websites.

What does this mean for real estate and marketing your house? Well, if you watched my video, you probably have a good sense of what the condo looks like! It shows space, intimacy, texture, and light. It allows me to demonstrate features as well as tell a story. People in another part of the country can click on the link and have a hands on tour. Combine this with CraigsList, and you have captured the local market as though you were a king.

Although YouTube is all the rage, I suspect that before long these clips will be lost in a sea of .wmv files. But for now, it is a superb means for watching bloopers, videos of loved ones, and marketing your home.