Give Back to Your Community!
20 Ways to Give Back!!
Have any of you wondered how to find as many ways as possible to give back to your community. Well, here are 20 ways in which you can help others! 20 Simple Ways to Give Back to Your Community. Not every volunteer effort has to change the world. Let your efforts make your corner a little brighter. Here are some simple ways you can improve your community:
1. Help an elderly neighbor rake leaves, grocery shop or do home repairs.
2. Give away free flowers, seeds or plant to a neighbor in the Spring.
3. Put out flags for the Fourth of July in neighborhood front yards.
4. Sponsor a Little League team or any children's athletic team.
5. Become active in the Chamber of Commerce.
6. Start a garden or historical walk.
7. Speak at career day at the elementary school.
8. Repaint a playground.
9. Take your pet to the local senior center.
10. Organize and gather goods & beds for the Women's Shelter.
11. Be a Big Brother or Sister to a child.
12. Encourage homeowners to donate clothing and furniture.
13. Get involved with your local community.14. Sponsor a school to help with their needs.
15. Bring a carload of newspapers,towels & blankets to the animal shelter.
16. Ask a local teacher what supplies his or her class needs most and donate them.
17. Hold a canned food drive and deliver the goods to the food bank..
18. Organize a town or beach clean-up day.
19. Take a lonely child with you when your family goes to the movies.
20. Sponsor a family in need who needs food and clothing.
Thursday, November 20, 2008
Alameda County Housing Statistics
October 2008
The continued decline in home sales prices throughout most of southern and eastern Alameda County has increased housing affordability and inspired buyers to act. Sales activity remained strong in the Central County and Tri-Cities regions in October 2008 fueled by modest month-to-month price drops. Sales, on average, dropped 9% in the Tri-Valley markets.
Sales prices proved once again the variability between real estate markets.
Prices actually increased in specific communities from September to October.Central County (Castro Valley, Hayward, San Leandro and San Lorenzo)Castro Valley was the notable exception in the Central Valley by showing a 10% increase in median sales price from September to October. However, units sold slipped by 20% in Castro Valley. Active listings were also down an average of 4% throughout the Central County communities - a trend that's consistent with decreasing inventory throughout Alameda County. Pending sales increased an average of 9% month-to-month. In terms of actual units listed and pending sale, the pace of home sales has remained steady since August 2008.
Tri-Cities (Fremont, Newark and Union City)Union City showed positive growth in all market indicators this month. Units Sold shot up 76% from 21 units in September to 37 units in October; pending sales were up 13% and active listings increased 7%. The median sales price increased 7% from $480,000 in September to $511,500 in October. Newark did well last month, too. A modest 2% increase in sales prices, a 13% increase in units sold and a 7% increase in active listings. However, it was the only Tri-City community to post a decline in pending sales. Median prices slipped 16% in Fremont from $685,000 in September to $573,000 in October. Sales activity was virtually the same with only two fewer units sold in October.
Tri-Valley (Dublin, Livermore and Pleasanton)All Tri-Valley communities, but Danville, saw a drop in sales prices in October. Livermore prices decreased 16% from $499,950 to $420,000 while prices in Dublin, Pleasanton and San Ramon dropped 8% and 4%. In terms of actual dollars, the prices in each community are still well above both the state and county median prices. The pace of home sales and pending sales also slowed throughout the region with the exception of Livermore which saw a 10% month-to-month increase in actual units sold. Meanwhile, with the exception of Pleasanton, active units increased across the rest of the Tri-Valley
Information is deemed reliable but not verified
The continued decline in home sales prices throughout most of southern and eastern Alameda County has increased housing affordability and inspired buyers to act. Sales activity remained strong in the Central County and Tri-Cities regions in October 2008 fueled by modest month-to-month price drops. Sales, on average, dropped 9% in the Tri-Valley markets.
Sales prices proved once again the variability between real estate markets.
Prices actually increased in specific communities from September to October.Central County (Castro Valley, Hayward, San Leandro and San Lorenzo)Castro Valley was the notable exception in the Central Valley by showing a 10% increase in median sales price from September to October. However, units sold slipped by 20% in Castro Valley. Active listings were also down an average of 4% throughout the Central County communities - a trend that's consistent with decreasing inventory throughout Alameda County. Pending sales increased an average of 9% month-to-month. In terms of actual units listed and pending sale, the pace of home sales has remained steady since August 2008.
Tri-Cities (Fremont, Newark and Union City)Union City showed positive growth in all market indicators this month. Units Sold shot up 76% from 21 units in September to 37 units in October; pending sales were up 13% and active listings increased 7%. The median sales price increased 7% from $480,000 in September to $511,500 in October. Newark did well last month, too. A modest 2% increase in sales prices, a 13% increase in units sold and a 7% increase in active listings. However, it was the only Tri-City community to post a decline in pending sales. Median prices slipped 16% in Fremont from $685,000 in September to $573,000 in October. Sales activity was virtually the same with only two fewer units sold in October.
Tri-Valley (Dublin, Livermore and Pleasanton)All Tri-Valley communities, but Danville, saw a drop in sales prices in October. Livermore prices decreased 16% from $499,950 to $420,000 while prices in Dublin, Pleasanton and San Ramon dropped 8% and 4%. In terms of actual dollars, the prices in each community are still well above both the state and county median prices. The pace of home sales and pending sales also slowed throughout the region with the exception of Livermore which saw a 10% month-to-month increase in actual units sold. Meanwhile, with the exception of Pleasanton, active units increased across the rest of the Tri-Valley
Information is deemed reliable but not verified
Saturday, October 11, 2008
It's Your Move!
Purchase a Home in Today's Market? Is it Wise and Possible?
Buying a home in today's market may be a challenge. And given the economic news we're getting, it may take nerves of steel to jump in right now. But there are many homes on the market right now that are great values. If you have good credit, money for a down payment and are pre-approved by a bank, there are homes that may fit your needs.
There are many factors that make buying a home today a great option. Interest rates are near their all time lows. The rate on a 30-year, fixed mortgage is hovering around 6 percent. By contrast interest rates were hitting 8 percent and higher during the last market downturn, and were between 10 and 12 percent at the height of the last housing boom in the 1980s. Lower interest rates make it easier to qualify for a loan, and your monthly payments are more affordable.
Another factor impacting the real estate market is that today there are many homes for sale that are bank-owned because of foreclosures. The banks are taking anywhere from a 30% to 50% loss on these listings. It's true not all bank-owned properties are good deals and that dealing with these sales can be a challenge, but with help of a good Realtor there are bargains to be had.
The same can sometimes be said for so-called "short sales" (short, because the seller is asking their lender to take less than the amount left on the loan.) These are even harder to put together than bank-owned properties and much trickier as well. It is really important that you are working with an experienced realtor who is on the same page as you are. And be careful--just because it's a short-sale or an bank-owned property doesn't necessarily mean it's a good deal.
"Normal" sales--a property that is not a short sale or banked-owned property-- are easier to purchase today than just a few years ago. The value of properties has finally adjusted downward from their peak highs during the real estate boom. Buyers are finally able to find affordable homes. And there are choices.
The length of time a home remains on the market before it is sold has increased from roughly two weeks in 2004 to between eight and nine weeks in 2007. According to the unsold inventory index provided by the CALIFORNIA ASSOCIATION OF REALTORS®, it would take 16.3 months to sell all the homes on the market at the current sales pace, compared with 6.4 months in 2006. With more homes on the market for longer periods of time, now you have more choices when it comes to selecting a home.
I often hear potential buyers say "I think prices will drop even more and I am going to wait." Of course that is their prerogative. But over the long term across California the median sales price for a single-family home has been consistently rising for several decades. In short, housing remains a solid, long-term financial investment. While the pace of home appreciation has slowed over the last year, historical data suggest home prices will continue to appreciate over time. The projected median home price for a single-family home in California in 2008, for example, is $553,000. By comparison, the median price in 2000 was $241,350; $193,770 in 1990, and $99,550 in 1980. (source: C.A.R.)
In the Bay Area it's a great time to buy. So if you are ready to buy, find a service oriented, caring, ethical Realtor®. Get yourself preapproved by a lender. Start your journey for that home that you have always wanted and that is now attainable. Contact me when you are ready for that journey to purchase the biggest investment of your life. Why rent when you might be able to purchase in today's market?
Call Jean Powers a Certified Residential Specialist and Broker Associate at Kane & Associates.
Jean can be reached by email at Homes@JeanPowers.com or by telephone at 510.908.9002
Sunday, August 24, 2008
Buyers in Northern California!
For all you buyers in Northern Calfornia who want to purchase a Bank Owned or Short Sale property:
1. Please do not believe what you hear or read from the Media.
2. Please listen to the advice of your Realtor.
3. Please believe us when we say the lenders are not willing to give away the properties.
4. Please understand that that the lenders are taking anywhere from 30 to 50 per cent loss on the home.
5. Please understand for the most part the lenders will not take less than listed price.
6. Please understand that when the property is in great condition and in a good location that the there will be multiple offers.
7. Please understand that when there are multiple offers, you need to offer more than listed price.
8. Please understand that real estate in the long run has always gone up in value.
9. Please understand that interest rates will not remain low forever and now is the right time to buy.
10. AND finally, Please understand that there are not any deals! The deals are here right now! Homes are ON SALE right now!!!
http://www.jeanpowers.net/
510.908.9002
510.908.9002
Sunday, August 10, 2008
Do You Know the Difference?
Buyers and Sellers! Do You Really Know the Difference?
In today’s San Francisco Bay Area market there are numerous properties for sale. I have been working with buyers and sellers in this challenging market. For the most part, prices ranging from $200,000 to $400,000 are being sold as Short Sale or REO properties. There are some being sold on Auction websites. Very few homes in the above price range are being sold by homeowners as what we call a Regular sale. Below are a summarized definition of these types of transactions.
Regular Sale - A sale where the seller has equity in the property. The buyer and seller will the
negotiate price and terms of the sale. The seller is required to provide Disclosures according
to California Law and statute. The transactions in this type of sale are generally much easier to come together as there are timelines in which the seller needs to abide by in the transaction. The seller is motivated to sell and move on in his/her life.
Short Sale - A short sale is the sale of real property where the fair market sale price is less than the loan(s) on the property. A short sale means the seller's lender is accepting a less than the existing loanson the property. Just because a property is listed with short “sale terms” does not mean the lenderwill accept your offer. These properties must be purchased “As Is” without any repairs or warranties. Some are in need of repair.The lender is already taking a 30% to 50% loss on the property. This is why a majority of the time, they will NOT negotiate on the price. In fact, in most cases in our area, there are multiple offers on most properties that are in good condition and the price will higher than the listed price.
If the property in encumbered with more than one loan, there could be a problem. All of the lenders must agree to a short sale or a contract can never be ratified. There is no guarantee the lender will
approve of the sale. My buyers have waited over 4 months for the lender to respond to their offer. We are still waiting for an acceptance! I have heard of circumstances where it took the lender over 9 months to respond and did not accept the offer. Statistics show over the last six months that only 20 % of these sales have closed. The homeowner should consult their CPA or Tax Attorney before entering into a Short Sale agreement.
REO/Bank Owned Property - REO is an acronym for a real estate owned property that has been
foreclosed on or repossessed by banks or lenders. These properties are also sold in “As Is” condition without any repairs or warranties. The seller (lender) is exempt by law from completing any disclosures. The agents involved in the transaction are not exempt from completing their visual inspection as per California’s disclosure laws.
Prior to these properties going on the market, the lender has had an agent submit a BPO (Broker’s Price Opinion). So, just as in a short sale transaction, the lender is already taking a 30% to 50% loss on the property. This is why a majority of the time, they will NOT negotiate on the price. In fact, in most cases in my area, there are multiple offers on most properties that are in good condition and the price will higher than the listed price. Again, some properties are in need of repair. The process for bank approval can be anywhere from 3 – 10 days.
Pre-Foreclosure Property - A property where the homeowner has fallen behind in their payments or when a Notice of Default (NOD) has been filed against the property by the lender. May not have much flexibility in negotiating. These properties may be regular sales or potential Short Sales. The homeowner should consult their CPA or Tax Attorney before entering into a Short Sale agreement.
Online Auctions - Recently I have found that some of the REOs that have not sold were placed on an online auction website. Do not be fooled in thinking that you can purchase these properties lower than what they were listed for by an agency. The agency still has the listing. The website starts with a minimum bid and the buyer is made to believe that they can purchase this property for this amount if there are no other bidders. Not so, there is a reserve amount that the lender expects to get for the property. This price is usually what the real estate agency has listed the property for in the multiple listing service. There is a 5–10% fee paid to the auction house in addition to the final bid price. These properties are all “As Is” sales without inspections or warranties.
Call me for more information and help!
In today’s San Francisco Bay Area market there are numerous properties for sale. I have been working with buyers and sellers in this challenging market. For the most part, prices ranging from $200,000 to $400,000 are being sold as Short Sale or REO properties. There are some being sold on Auction websites. Very few homes in the above price range are being sold by homeowners as what we call a Regular sale. Below are a summarized definition of these types of transactions.
Regular Sale - A sale where the seller has equity in the property. The buyer and seller will the
negotiate price and terms of the sale. The seller is required to provide Disclosures according
to California Law and statute. The transactions in this type of sale are generally much easier to come together as there are timelines in which the seller needs to abide by in the transaction. The seller is motivated to sell and move on in his/her life.
Short Sale - A short sale is the sale of real property where the fair market sale price is less than the loan(s) on the property. A short sale means the seller's lender is accepting a less than the existing loanson the property. Just because a property is listed with short “sale terms” does not mean the lenderwill accept your offer. These properties must be purchased “As Is” without any repairs or warranties. Some are in need of repair.The lender is already taking a 30% to 50% loss on the property. This is why a majority of the time, they will NOT negotiate on the price. In fact, in most cases in our area, there are multiple offers on most properties that are in good condition and the price will higher than the listed price.
If the property in encumbered with more than one loan, there could be a problem. All of the lenders must agree to a short sale or a contract can never be ratified. There is no guarantee the lender will
approve of the sale. My buyers have waited over 4 months for the lender to respond to their offer. We are still waiting for an acceptance! I have heard of circumstances where it took the lender over 9 months to respond and did not accept the offer. Statistics show over the last six months that only 20 % of these sales have closed. The homeowner should consult their CPA or Tax Attorney before entering into a Short Sale agreement.
REO/Bank Owned Property - REO is an acronym for a real estate owned property that has been
foreclosed on or repossessed by banks or lenders. These properties are also sold in “As Is” condition without any repairs or warranties. The seller (lender) is exempt by law from completing any disclosures. The agents involved in the transaction are not exempt from completing their visual inspection as per California’s disclosure laws.
Prior to these properties going on the market, the lender has had an agent submit a BPO (Broker’s Price Opinion). So, just as in a short sale transaction, the lender is already taking a 30% to 50% loss on the property. This is why a majority of the time, they will NOT negotiate on the price. In fact, in most cases in my area, there are multiple offers on most properties that are in good condition and the price will higher than the listed price. Again, some properties are in need of repair. The process for bank approval can be anywhere from 3 – 10 days.
Pre-Foreclosure Property - A property where the homeowner has fallen behind in their payments or when a Notice of Default (NOD) has been filed against the property by the lender. May not have much flexibility in negotiating. These properties may be regular sales or potential Short Sales. The homeowner should consult their CPA or Tax Attorney before entering into a Short Sale agreement.
Online Auctions - Recently I have found that some of the REOs that have not sold were placed on an online auction website. Do not be fooled in thinking that you can purchase these properties lower than what they were listed for by an agency. The agency still has the listing. The website starts with a minimum bid and the buyer is made to believe that they can purchase this property for this amount if there are no other bidders. Not so, there is a reserve amount that the lender expects to get for the property. This price is usually what the real estate agency has listed the property for in the multiple listing service. There is a 5–10% fee paid to the auction house in addition to the final bid price. These properties are all “As Is” sales without inspections or warranties.
Call me for more information and help!
Friday, August 1, 2008
Tomb of the Unknown Soldier
Today I received an email from a friend on the Jeopardy question in which all 3 contestants incorrectly answered regarding the men who guard the Tomb of the Unknown Soldier. I decided to research the information on the guards as it was quite interesting to me. Not only did I find the questions and answers on these fabulous men but I also found a YouTube piece on the subject which got to my heart! I hope you enjoy this information. I did!!
Thursday, July 31, 2008
Do You Know About the Federal Housing Bill?
How Does Federal Housing Bill Affect You?
On June 26, 2008, the Senate passed a housing bill that will offer up to $300 billion in loans for troubled hsomeowners and establish a government rescue plan for mortgage finance giants Fannie Mae and Freddie Mac.
The President will roll over once again - but this time to the benefit of the economy and the consumer. At first, Bush said he would veto the bill, but after consulting with his "advisers" he will concede this coming week and sign the bill into law.
The bill will take effect October 1st, 2008.
What does all of this mean to you, the consumer?
For Distressed Home Owners
Some folks may be able to cancel their old mortgages with high interest rates and replace them with new fixed-rate loans lasting at least 30 years...with some caveats:
1) New loans would be no more than 90 percent of what the borrower's property is worth currently;
2) Loan must have originated on or before January 1, 2008;
3) The loan must be on the borrower's primary residence;
4) Income verification is required, which might be an issue for subprime borrowers who did not have to disclose their income to receive their current loan;5) Your housing payment has to be at least 31 percent of your monthly household income;
6) You cannot take out a home equity loan for at least five years;
7) Appreciation made on the home within five years goes back to the government;
8) Fifty percent of any appreciation after five years must go to the government.
For Home Buyers
1) Conforming loan limits increased permanently to $625,000 (great for California!)
2) The bill includes a tax refund for first-time home buyers worth up to 10% of a home's purchase price but no more than $7,500 (The refund, however, serves more as an interest-free loan, since it would have to be paid back over 15 years in equal installments. )
3) The bill eliminates a program that has allowed sellers to provide down payment assistance.
For Veterans
1) Lenders will have to wait nine months, not 90 days, before beginning foreclosure proceeding on homes owned by someone returning from the military.
2) Lenders will have to wait a year before raising interest rates on a mortgage held by someone returning from military service.
I will continue to learn more about this legislation. If you have any questions, or if I can help you in any way, please call or e-mail me...I am here to help!
On June 26, 2008, the Senate passed a housing bill that will offer up to $300 billion in loans for troubled hsomeowners and establish a government rescue plan for mortgage finance giants Fannie Mae and Freddie Mac.
The President will roll over once again - but this time to the benefit of the economy and the consumer. At first, Bush said he would veto the bill, but after consulting with his "advisers" he will concede this coming week and sign the bill into law.
The bill will take effect October 1st, 2008.
What does all of this mean to you, the consumer?
For Distressed Home Owners
Some folks may be able to cancel their old mortgages with high interest rates and replace them with new fixed-rate loans lasting at least 30 years...with some caveats:
1) New loans would be no more than 90 percent of what the borrower's property is worth currently;
2) Loan must have originated on or before January 1, 2008;
3) The loan must be on the borrower's primary residence;
4) Income verification is required, which might be an issue for subprime borrowers who did not have to disclose their income to receive their current loan;5) Your housing payment has to be at least 31 percent of your monthly household income;
6) You cannot take out a home equity loan for at least five years;
7) Appreciation made on the home within five years goes back to the government;
8) Fifty percent of any appreciation after five years must go to the government.
For Home Buyers
1) Conforming loan limits increased permanently to $625,000 (great for California!)
2) The bill includes a tax refund for first-time home buyers worth up to 10% of a home's purchase price but no more than $7,500 (The refund, however, serves more as an interest-free loan, since it would have to be paid back over 15 years in equal installments. )
3) The bill eliminates a program that has allowed sellers to provide down payment assistance.
For Veterans
1) Lenders will have to wait nine months, not 90 days, before beginning foreclosure proceeding on homes owned by someone returning from the military.
2) Lenders will have to wait a year before raising interest rates on a mortgage held by someone returning from military service.
I will continue to learn more about this legislation. If you have any questions, or if I can help you in any way, please call or e-mail me...I am here to help!
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