Tag Archives: Seller

New Listing in NW Santa Rosa–Stately home seeking lovers of space!

VWN_3879-f1200 Halyard Drive, Santa Rosa: $560,000–Traditional home beckoning to new owners seeking 4 bedrooms and 3 full baths in a quiet NorthWest Santa Rosa neighborhood. Oversize lot with big side yard. Inside, new flooring in Entry Way and Kitchen. Living room will swallow up your big sectional and adjoining “formal” dining area will take a big dining room table, hutch and sideboard. See the virutal tour by clicking RIGHT HERE!

VWN_3885-f VWN_3896-f VWN_3899-f VWN_3914-f VWN_3907-f VWN_3929-f VWN_3938-f VWN_3943-f VWN_3964-f VWN_3969-f VWN_3973-f VWN_3978-f VWN_3957-f

 

“Where’s the Beef?” Sales are flat, Inventory Short.

“Where’s the Beef?” Sales are flat, Inventory Short.

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  Sonoma County selling and buying season here in the lovely “Wine Country” just an hour north of the “Gate” is flat with sales down 2% over last year but the bigger issue–Inventory! Usually March will signal the beginning of the “Selling” season by more homes coming onto the marketplace. March was a GOOD month but instead of being the beginning of an inventory surge–it was the end. March was our best month and inventory has been declining since. WHAT are the reasons? Below is a slide from the California Association of Realtors. I’ve added on the last three.

Reasons for LACK of Home Inventory  I think the “Off Market” or “pocket listings” is an issue but I’ve NOT seen any hard numbers on it. I’m waiting for CAR or perhaps Core-Logic, to come out with a study showing MLS sales vs. recorded sales. I know in our super tight inventory market, Realtors/Agents are always asking to see new listings not yet on the market. We hear of sales being made off MLS all the time. I keep waiting for the law suit which will define this isssue to apppear. Sellers and their Realtor/Agents who state, “They got their price.” really have no idea at how much that “price” could have been! The current disclosures by CAR, reflect this very issue which came out of the ’89 market scarcity.

Continue reading “Where’s the Beef?” Sales are flat, Inventory Short.

Why WAITING for 3.5% is FOLLY and Financially Naive.

$$SignsThe link below will take you to a Fannie Mae history of 30 year fixed rate loans. The reason I’m bringing HISTORY into the argument of lower interest rates is to show Buyers and Sellers why NOT to “wait it out”. These folks mistakenly think they will see 3.5% again.  It is wise to  understand the dynamics OF interest rate fluctuations and to study past rate increases. For instance,   In April of 1971 the interest rate was 7.31%–(42 YEARS AGO!) it would NOT fall under that rate again until July of 1993 when it hit 7.21%! Oh, and during that time frame it hit a high of 18.45%  in October of 1981!

30 Year Fixed Rates since 1971. Waiting for 3.5% again? Good luck!

The first 11 years of my real estate career we had double digit interest rates with that big high I mentioned above. We STILL sold homes. Sure they were lower but so were wages and salaries. Fast forward to today and we see rates soaring from April to today by one full percentage point or what they say in banking as 100 “basis” points. And this is WITH the Fed taking a long term support measure for keeping interest rates “low”.  What bothers me is the consumer balking at rates exceeding 5% as if THIS is a high rate! Continue reading Why WAITING for 3.5% is FOLLY and Financially Naive.

Sonoma County Home Affordability….How Much Home Can You Afford…now, versus 2006

June 2 , 2013; Santa Rosa, Ca.

The change in the Sonoma County Real Estate Market was upwards of 60% in some areas of the county, from the height of the market in 2006, to the bottom in 2009.  But, in some Sonoma County cities homes have managed to hold their value amazingly well.  On today’s show we’ll tell you which areas, and why…..

And, We’ll talk about how much home you can afford now…

Tune in to The Real Estate Hour for this, and more local real estate news, every Sunday morning from 9-10am on 1350AM KSRO or streaming live at www.KSRO.com

 

 

 

 

The Forgotton Entrance – Is your Front Door Welcoming?

Sunday, May 26, 2013 – Sonoma County, Ca.

Creating a welcoming front entrance can add to your home’s curb appeal, desirability and value.  Your front door is the first impression your visitors (and potential buyers) get of your home. Make sure it’s a good one.

Your front entrance should be;

Welcoming; Your guest begin developing an opinion of your home as soon as they pull up to the curb.

Obvious ; Don’t make guests wonder which entrance they should approach

Light; Not just the front door, but also the path leading them there.

Safe; High fences and tall bushes can become a hiding place behind which to lurk. Make sure your guests feel safe at your front door.

Start at the curb. look at your entrance.  Walk the path your guests will use several times and think about the experience.  Is it Welcoming, Obvious, light and Safe? If not, make some changes.

 

This Week’s Show; Wildfires are Coming…Is Your Home Ready?

5/26/2013 Sonoma County, Ca. on The Real Estate Hour, 1350 am KSRO

Fire Prevention Battalion Chief, Ben Nicholls, joins us on the radio to discuss the steps homeowners in High Fire Areas (State Responsibility Areas, SRAs) should be taking to protect their homes from Wild Fire.

Did you know that, if you live in an SRA, you are required to clear a “Defensible Space around your home? Chief Nicholls will tell us what that means. Here’s a link to help you determine if you are in an SRA,    http://www.firepreventionfee.org/sraviewer.php

Also, great tips for everyone on fire safety in your home.

Join us at 9:15 for this informative and very important topic.

For more information visit; http://fire.ca.gov/

 

 

 

 

Eight ways to improve your home appraisal

Sonoma County, California Home Sellers AND buyers–get out of the Appraisers way! Let me start by saying there are many really good appraisers. Unfortunately, not all home appraisers are created equal.  Some make a genuine effort and others are just in a hurry to get this appraisal done and move on to the next one.

 

Some come from out of the area, and they’re not familiar with your particular neighborhood, and how it compares to the others nearby..  Low appraisals can be a real problem as scarcity of homes and multiple offers are driving up prices.

Appraisers are limited to looking back at recently sold properties within a limited radius of your home, not what homes are in escrow for today.  They need all the help they can get…although, some are not interested in anything you have to offer.  Your best bet is to have the information available anyways.  Here are some good suggestions for things you can do to improve your home appraisal; Thanks to loan officer, Kevin Long. http://kevinlongloans.blogspot.com/

Eight Ways to Improve Your Home Appraisal

1. Make Sure Your Appraiser Knows Your Neighborhood

There are pockets and micro communities.  If you step off the curb, you’re in a different zone.  So make sure your appraiser knows that just because you’re in one district doesn’t mean you’re in the same neighborhood as the places 3 miles down the road.

2. Provide Your Own Comparables

If you provide the appraiser with three solid and well-priced comparable properties, you will save them time as well as ensure that they have appropriate comparables rather then having them randomly pick some from the neighborhood.

3. Know What Adds the Most Value

Kitchens and bathrooms get the most value.  However, wood floors, landscaping and enclosed garages also increase appraisals.

4. Document Your Fix Ups

You’d want to do this for tax and insurance purposes.  But if the records are a little haphazard, take some time and organize it into different file folders, and make them available for the appraiser.

5. Talk Up Your Town

Has your town gotten any award, or award winning restaurants, museums, parks, colleges, etc?  Make your community seem vibrant as it will increase the  perceived value of your home.

6. Distinguish Between Upstairs and Downstairs

If you’ve remodeled and completely finished a basement or an attic, you will need to point that out to the appraiser, as these are often not counted in the square footage, and therefore the final appraisal.

7. Clean Up

Clean up and declutter where you can.  Put flowers out.  Have cookies baking.  Make your home seem clean, upscale, and organized.

8. Let the Appraiser Alone to Do Their Job

If you follow the appraiser around, they’ll be more focused on you then on the home, so let them know where you are if they have any questions.

Holiday Halt for Foreclosures, BUT, Is your loan owned by Fannie or Freddie?

In Sonoma County, Ca., most “bubble” loans (loans originated 2004-2007) were not sold to Fannie or Freddie. However, double check with the sites below to see if your loan is owned by Fannie and Freddie. If you are in foreclosure, you may have a holiday delay in the sale of your home.  The links below will help you figure it out.

http://www.fanniemae.com/loanlookup
http://www.freddiemac.com/mymortgage

Pete Phillippe, Loan Officer and old wizened one, of Princeton Capital, Joins us to discuss Interest rates,Paying your Home off Quickly and Qualifying!

 

Long time guest and friend of the Real Estate Hour, Pete Phillippe of Princeton Capital, will join us to discuss options which super low interest rates offer the consumer. With rates THIS low (3.25%) a homeowner refinancing may consider saving money while retaining a 30 year  amortized loan or choosing to opt for a SHORTER Amortization schedule be it a 15 or even 10 year loan. One would argue that at 3.25% it’s just cheaper to KEEP the loan at that rate. Why rapidly pay-off a 3.25% loan when you could use the money for reducing say, credit card debt, college debt, etc. MUCH higher consumer credit rates and keep the home rate low and affordable. These questions PLUS MORE!!

Pete’s contact information: 707-829-7490 Direct or 707-481-2737 Cell.  peterphillippe@princetoncap.com

 

 

 

Join us this Sunday, 2/12/12 as we unravel the latest mortgage relief effort…could THIS be the real game changer??

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Federal Government & Attorneys General reach landmark settlement with major banks

Roughly $25 billion in relief for distressed borrowers, states and federal government.

From the “NationalMortgageSettlement.com” website.

After many months of negotiation, 49 state attorneys general and the federal government have reached agreement on a historic joint state-federal settlement with the country’s five largest loan servicers:

The settlement will provide as much as $25 billion in relief to distressed borrowers and direct payments to states and the federal government. It’s the largest multistate settlement since the Tobacco Settlement in 1998.

The agreement settles state and federal investigations finding that the country’s five largest loan servicers routinely signed foreclosure related documents outside the presence of a notary public and without really knowing whether the facts they contained were correct.  Both of these practices violate the law.  The settlement provides benefits to borrowers whose loans are owned by the settling banks as well as to many of the borrowers whose loans they service.

  • About the Settlement: Learn about the settlement, who is affected and what claims may still be pursued against the banks. Find links to your state Attorney General’s Office to find state-specific information and contacts.
  • Help for Borrowers: Learn how to find out if your loan is affected by this settlement, the timeline for relief, how you will know if you are eligible. Find links to your state Attorney General’s Office to find state-specific information and contacts.
  • News: Read the national news release and find links to your state Attorney General’s Web site for state-specific news.
  • Loans owned by Fannie Mae or Freddie Mac are not impacted by this settlement.  You may visit the following websites to learn if your loan is owned by either Fannie Mae or Freddie Mac:

Here’s what the plan will do for homeowners in specific situations;

Mortgage underwater but current with payments. More than 10 million homeowners in the U.S. owe more on their mortgages than their houses are worth. The latest plan would enable people who have been making loan payments on time to save about $3,000 a year on their mortgage by refinancing with lower-interest loans guaranteed by the Federal Housing Administration.

Mortgage underwater and behind with payments. More than $12 billion to be set aside to reduce principal for homeowners who are behind on their payments and owe more than their houses are currently worth.

Victims of foreclosure fraud. The plan will provide payments of about $2,000 a piece to approximately 750,000 families that have been the victim of improper foreclosure practices. Most commonly—routine electronic notarization of documents being transferred from one financial institution to another as part of the foreclosure process–a practice known as robo-signing.

This will most likely apply to people who lost their homes between Jan. 1, 2008, and Dec. 31, 2011.