California Real Estate Blogs

Pasadena Mortgage rates for July 25, 2008.  Loan amounts up to $417,000:   3/1 ARM              5.625% 5/1 ARM              5.750% 7/1 ARM              6.125% 10/1 ARM            6.375% 30 Yr Fixed          6.375%   All rates offered to the borrower with 1 point cost.  Rate quotes assume a purchase transaction with a 20% down payment, 720 credit score, and full income qualification.  Rates are subject to fluctuation.  Custom rate quotes and rate lock advice are available by calling (858)-777-9751.   PASADENA MORTGAGE RATE TREND:   Next 7 days:       Slightly Lower Next 30 days:     Slightly Lower Next 3 months:   Neutral

If you are living in Sierra Madre or are thinking about relocating to Sierra Madre, you've come to the right place.  This post will be updated monthly, around the first week of the month, for the previous month and will give you key real estate market indicators for Sierra Madre California.  Bookmark this page and visit it each month to see how Sierra Madre homes and condos are faring in today's real estate market. If you are already a Sierra Madre homeowner and would like to get a monthly email sent to you with real estate activity around your Sierra Madre home, please click here and order your real estate monthly market report.  You will not be contacted by me or anyone on my team and the information will be generated automatically via email based on the criteria that you list. If you are seriously considering selling your Sierra Madre home and would like a private consultation, please contact me at  626-627-7107  or Irina@Irina4RealEstate.com. Sierra Madre Real Estate Market Report for the month of June 2008: Single Family Residence Jun-08 New Listings 23 Total Listings 60 Sales Pending 5 Homes Sold  5 Listings Expired 4 Average Days on the Market  131 Average Price Per Sq. Ft. $475 Average Selling Price $961,600         Condos and Townhomes Jun-08 New Listings 1 Total Listings 5 Sales Pending 1 Homes Sold  4 Listings Expired 0 Average Days on the Market  233 Average Price Per Sq. Ft. $435 Average Selling Price $745,000 Sierra Madre Real Estate Market Report for the month of May 2008: Read more »

If you are living in San Gabriel or are thinking about relocating to San Gabriel, you've come to the right place.  This post will be updated monthly, around the first week of the month, for the previous month and will give you key real estate market indicators for San Gabriel California.  Bookmark this page and visit it each month to see how San Gabriel homes, condos and townhomes are faring in today's real estate market. If you are already a San Gabriel homeowner and would like to get a monthly email sent to you with real estate activity around your San Gabriel home, please click here and order your real estate monthly market report.  You will not be contacted by me or anyone on my team and the information will be generated automatically via email based on the criteria that you list. If you are seriously considering selling your San Gabriel home and would like a private consultation, please contact me at     626-627-7107     or Irina@Irina4RealEstate.com. San Gabriel Real Estate Market Report for the month of June 2008: Single Family Residence Jun-08 New Listings 18 Total Listings 91 Sales Pending 13 Homes Sold  24 Listings Expired 63 Average Days on the Market  98 Average Price Per Sq. Ft. $358 Average Selling Price $580,783         Condos Jun-08 New Listings 6 Total Listings 21 Sales Pending 0 Condos Sold  1 Listings Expired 1 Average Days on the Market  54 Average Price Per Sq. Ft. $325 Average Selling Price $588,000         Townhomes Jun-08 New Listings 3 Total Listings 14 Sales Pending 1 Townhomes Sold  0 Listings Expired 5 Average Days on the Market  n/a Average Price Per Sq. Ft. n/a Average Selling Price n/a San Gabriel Real Estate Market Report for the month of May 2008:Read more »

  We may have seen the worst in the run up in mortgage rates   Mortgage rates in Long Beach for July 22, 2008.  Loan amounts up to $417,000: 3/1 ARM              5.750% 5/1 ARM              5.875% 7/1 ARM              6.250% 10/1 ARM            6.500% 30 Yr Fixed          6.500%   All rates offered to the borrower with 1 point cost.  Rate quotes assume a purchase transaction with a 20% down payment, 720 credit score, and full income qualification.  Rates are subject to fluctuation.  Custom rate quotes and rate lock advice are available by calling (858)-777-9751.   LONG BEACH MORTGAGE RATE TREND: Next 7 days:      Slightly Lower Next 30 days:     Lower Next 3 months:  Neutral   What a difference a week makes, huh?  Last Tuesday, I signaled that a short-term increase in rates was likely when I changed the 7-day outlook to "slightly higher" from neutral.  I felt that the rally in mortgage bonds was overdone and that traders would sell off a bit; I had no idea it would be this drastic.   If you click the link, you'll see that I offered a 30-year fixed at 6.0%. last Tuesday- today, the 30-year fixed rate loan is a full .5% higher.  In fact, almost every loan program is .5% higher than it was last week.  The problem?  Wall Street thinks the worst is over for banks and that inflation is going to be the #1 target for the Fed in the next few months.  ' Treasury Secretary Hank Paulson is certainly telling the markets that the banking crisis should be averted by Christmas.   So will the Fed raise interest rates in 2008?  I'm not so certain that they will.  The housing decline has been the worst since The Great Depression.  Fed Chairman, Ben Bernanke, is an expert on monetary policy in the Depression.  He subscribes to the Milton Friedman theory that monetary policy must accommodate a healthy banking system.  His 2004 speech signaled two things two us:   (1)- Bernanke believes that tightening during a slowdown could cause further economic declines:   According to Friedman and Schwartz, the Fed's tight-money policies led to the onset of a recession in August 1929, according to the official dating by the National Bureau of Economic Research. The slowdown in economic activity, together with high interest rates, was in all likelihood the most important source of the stock market crash that followed in October. In other words, the market crash, rather than being the cause of the Depression, as popular legend has it, was in fact largely the result of an economic slowdown and the inappropriate monetary policies that preceded it. Of course, the stock market crash only worsened the economic situation, hurting consumer and business confidence and contributing to a still deeper downturn in 1930.   (2) Bernanke believes that a contracting banking sector withdraws a HUGE amount of money out of the economy:   The banking crisis had highly detrimental effects on the broader economy. Friedman and Schwartz emphasized the effects of bank failures on the money supply. Because bank deposits are a form of money, the closing of many banks greatly exacerbated the decline in the money supply. Moreover, afraid to leave their funds in banks, people hoarded cash, for example by burying their savings in coffee cans in the back yard. Hoarding effectively removed money from circulation, adding further to the deflationary pressures. Moreover, as I emphasized in early research of my own (Bernanke, 1983), the virtual shutting down of the U.S. banking system also deprived the economy of an important source of credit and other services normally provided by banks   His conclusion is foreshadowing:   Some important lessons emerge from the story. One lesson is that ideas are critical. The gold standard orthodoxy, the adherence of some Federal Reserve policymakers to the liquidationist thesis, and the incorrect view that low nominal interest rates necessarily signaled monetary ease, all led policymakers astray, with disastrous consequences. We should not underestimate the need for careful research and analysis in guiding policy. Another lesson is that central banks and other governmental agencies have an important responsibility to maintain financial stability. The banking crises of the 1930s, both in the United States and abroad, were a significant source of output declines, both through their effects on money supplies and on credit supplies. Finally, perhaps the most important lesson of all is that price stability should be a key objective of monetary policy. By allowing persistent declines in the money supply and in the price level, the Federal Reserve of the late 1920s and 1930s greatly destabilized the U.S. economy and, through the workings of the gold standard, the economies of many other nations as well.   I don't see the Fed aggressively raising interest rates to prop up the dollar.  I think reduced demand will bring oil prices below the $100/barrel mark which will strengthen the dollar.  The Fed's focus should have been (in the 1930s) and will be (this decade) to promote a healthy banking system.    While the banks are reporting lower losses, they still aren't healthy. The recent good news from the banking sector needs to be sustainable.  Look for the Fed to restrain itself from raising rates until 2009.   Are higher mortgage rates on the horizon?  Sure, in 2009.  The run up in mortgage rates I predicted, two weeks ago, has already happened.  I don't think mortgage rates go much higher in 2008.

Small Living Space Soutions for Long Beach Homes Space Savers or Hidden Secrets?   Down here at the beach we trade square footage for beach living and ocean breezes.  But what do we do with all of our stuff?  Lifetime collections of photos, books and other treasured belongings, that we are just not prepared to part with, need a place in our new homes as well.    Small spaces are a challenge when we downsize our lives.  Creative use of our space without feeling cluttered and oppressive becomes a mission.  Creative Home Engineering, a Tempe Arizona company specializing in hidden passageways may have solved some of these issues.  Read more »

Mortgage rates in Long Beach, California  for July 14, 2008.  Loan amounts up to $417,000: 3/1 ARM              5.125%5/1 ARM              5.250% 7/1 ARM              5.625% 10/1 ARM            5.750% 30 Yr Fixed          6.000% All rates offered to the borrower with 1 point cost.  Rate quotes assume a purchase transaction with a 20% down payment, 720 credit score, and full income qualification.  Rates are subject to fluctuation.  Custom rate quotes and rate lock advice are available by calling at the number below.. LONG BEACH CALIFORNIA  MORTGAGE RATE TREND: Next 7 days:       Neutral  Next 30 days:      Higher  Next 3 months:    Higher Last week was a scary one if you've been following the mortgage industry: Senator Schumer (NY) caused an old-fashioned bank run when he wrote a letter to the San Francisco Fed President concerned about IndyMac Bank's ability to weather the storm....then, he made that letter public. IndyMac Bank ceased new loan operations, in an effort to manage the loans they have on their books, on Monday. On Friday, the Feds closed IndyMac Bank down. This was political grandstanding at its worst: Sen. Schumer rejected that, saying that, while banking regulators do their work in private, lawmakers typically do theirs in public. Sen. Schumer, the head of Senate Democrats' re-election effort, threw in a political jab as well. "Clearly what was happened here was the OTS, having the second-biggest bank failure on their watch, sought to blame the messenger. In sum, it's sort of classically what this administration does. Blame the fire on the guy who called 911." The New York Times asked if Fannie Mae and Freddie Mac were insolvent and Wall Street went nuts.  Treasury Secretary Paulson stepped in and offered government support SHOULD the big mortgage guarantors fail.  Are Fannie and Freddie too big to fail?  Well, they insure almost half of this nation's $12 trillion worth of mortgage debt.  A failure would be a major disruption to housing capital and drive mortgage rates to the a MUCH higher level. Read more »

Last week there were 51 homes on the market in the city of Millbrae.  That seems like a lot to me, but there aren't many that are what our clients call, "affordable".  The Median price was $1,125,000.  The most expensive house is listed at $2,800,000.  Prices have been rising for some time in Millbrae and even though Altos Research says the trend in price is down, you could fool me.  Millbrae offers good schools, and Mills High School, which is part of the San Mateo Union High School District is a coveted high school and the reason many people desire to move to Millbrae from the City.  Read more »

The Mills Estates were developed in the mid-1950 through the 1960's.  This land once was part of the Ogden Mills estate and when the mansion burned down it was time to develop the land.  There were many different builders, some building tract homes and some custom homes.  This is the only area in Burlingame with Eichler homes and these are the largest Eichler's anywhere in San Mateo County.  Most of the homes on the view side of the street were built to take advantage of the wonderful views of the bay and San Francisco International Airport.  Part of Mills Estates sits in Burlingame and part in Millbrae.  With easy access to both 280 and 101, BART, and CalTrain it is a commuters paradise. For Sale this week:   $1,585,000 - on the market 54 days - 4 bedrooms and 2 baths - 2220 square feet and 44 years old $2,188,000 - on the market 2 days - 4 bedrooms and 2 1/2 baths - 2370 square feet and 49 years old $2,300,000 - on the market 72 days - 4 bedrooms and 3 baths - 3597 square feet and 51 years old.  Price reduced from $2,349,000 $2,328,888 - on the market 63 days - 5 bedrooms and 4+ baths - 3660 square feet and 34 years old   Pending Release this week:Read more »

The homes in the hills of Burlingame range from medium sized to massive.  Many sit right across from Hillsborough's town limits and afford some magnificent views of the City, the Bay and canyons.  This week saw Burlingame Hills as the most active area in the city with the most listings for sale here.  These homes are close to 280 and makes them an easy commute locations for people heading to the Silicon Valley or San Francisco.   For Sale this week:   $1,200,000 - on the market for 180 days - 3 bedrooms and 2 1/2 baths - 1830 square feet and 49 years old.  Price reduced from $1,395,000. $1,298,000 - on the market for 82 days - 3 bedrooms and 2 1/2 baths - 1980 square feet and 61 years old.  Price reduced from $1,323,950. $1,350,000 - on the market for 19 days - 3 bedrooms and 2 1/2 baths - 1890 square feet and 54 years old $1,595,000 - on the market for 159 days - 6 bedrooms and 3 1/2 baths - 3340 square feet and 43 years old. Price reduced from $1,875,000.Read more »

Foster City, as a planned community, has many single family homes, townhouses and condo that sit along the waterfront or have views of the bay.  These homes almost always command a higher sales price than the others within the same neighborhood.  The first series of homes are single family waterfront homes.  The second are condos and then townhouses, with the exception of two Promontory Point condo units at the very high end. Single Family Homes For Sale: For Sale this week:   $905,000 - on the market 1 day - 3 bedrooms and 2 1/2 baths - 2010 square feet and 32 years old $940,000 - on the market 34 days - 4 bedrooms and 2 1/2 baths - 2160 square feet and 34 years old. PriceRead more »

When you buy your first home, you have to remember that you can't call your landlord to fix things that break.  Guess what!  You're the landlord now, so it's really important to know what needs to be done with regular  maintenance.  If you follow a regular schedule, you're likely to have a home that is in good shape and easy to keep up.  If you don't, watch out when something breaks and you have to call the repairman.  It ain't cheap.  Your furnace works hard for you a good part of the year.  Take care of it by replacing the filters monthly.  Not only will your heating bill be less, but your furnace will work better and you'll have less dust in the house. Most hot water heaters last around 10 years.  Some last longer, some less.  Buying a hot water heater is a big expense, so take care of this workhorse for you and drain it annually.Read more »

While San Mateo condos and townhouses are scattered around all of the zip codes today we're focusing on the entire city and the 94404 zip where Mariner's Isle, Edgewater Isle and Harbortown reside.  The most expensive condos in San Mateo are on West 3rd Avenue in Baywood where there are several condominiums that are relatively new, offering spacious, luxury condos that are a short walk to the Library and downtown San Mateo.   The least expensive condo in San Mateo was listed at  $199,000, an unheard of price only a year or so ago.  The most expensive condo in San Mateo was listed at $2,250,000 and it's on West 3rd Avenue, where else?Read more »

I received this question from one of my readers about why home prices in the South Bay and particularly Manhattan Beach continue to remain so high.  With their permission I decided to answere the question in a post... The Question: Hi Kaye, I've been reading your blog for a while now. I have a burning misunderstanding about the South Bay market. Fundamentally it has to do with the price curve I see on Zillow when I look at the last 10 years of prices here. The HUGE increase in the slope through the early 2000's is the key. If one looks at the slope of that price curve, for say 90266, over the last 20 years it seems that housing prices went up slowly and steadily. There were big peaks and valleys but the curve always came back to where it would've been had the peaks and valleys never happened. Until recently. Now prices have sort of stabilized around here it seems. But, they haven't crashed and they are no where even close to near what they "should" be according to that curve. Case in point, although a unique house near the beach is 220 19th street. I saw it as open on the MBC blog that I also read. So, I thought I'd reproduce it here and get your thoughts on it. My wife and I are in medicine but are currently on the sidelines but we watch the MLS. Here's the comment I posted, do you have any thoughts?: ***This post made me say, "Whaaaaaaaaaaaaat?" when I read about 220 19th going for $3.1M more than it was purchased for in 2001. So they bought it for $2M and are selling for $5M.I missed the right time to buy a few years ago and so put my money aside to wait. Everybody says that the market is down and aside from the Freddie and Fanny stuff yesterday, that its not going to crash here in the south bay. When a house goes up in price 2.4 times what it was 7 years ago... are we really saying this is reasonable and sustainable prices! Isn't M.B. still in a huge bubble? When I look at a south bay home's price on Zillow in 2001...I say to myself "well, that's reasonable..." then I look at todays price and say "no, *that* house is NOT worth 2.5x as much as it was then..."I know it's totally subjective and the market is what it is. But, won't the curve have to eventually return to its average slope? Or stay flat for decades? Is that house really worth $5M? It sure doesn't seem like it. It does seem worth 2.5M though... It seems like we have no perspective when we look at this stuff. It's incredible...Help me understand this.-- My Answer: I'll give it a try... I believe there are a number of things going on in the South Bay-Beach Cities market and especially in Manhattan Beach that may account for the difference in the reality of the market compared to the expectations of where buyers would like it headed. Short of a full on financial crash, i.e. more major bank failures, Fannie and Freddie going down, the stock market tanking and or a major recession, I suspect we will limp along bruised and battered but not permanently crushed. That's not to say we are not going to see a continual decline in prices until the end of the year and maybe into next year. But for now the decline appears to be far less then many predicted/wished to see. This has always been part of the appeal of the South Bay Beach Cities. Overall values tend to hold up better for our local real estate markets. I think some of the major reasons for this phenomenon are: 1. The Beach Cities make up a relatively small area. Unlike many major metropolitan areas there are no unsafe parts of town. We may make local jokes about life east of Sepulveda or North Redondo but the fact is property values are high in all the Beach Cities. 2. There has been a change in the demographics in Manhattan Beach and the other South Bay Beach Cities over the last few years. It used to be that you lived at the beach until you became successful in your field or got married or a combination of both and then moved somewhere more "family" oriented like Palos Verdes. That changed in the late 70s as more of us who had moved here as "singles" decided we loved the beach and wanted to continue living near the beach. 3. Each city has its own school system. This drew a number of folks with money who had been living on the Westside into our area. The public schools in our cities were far better then those on the Westside served by LA City Schools. A lot of parents decided that paying a little more for a home was a better deal then paying for private school tuition. 4. The 2000 stock market crash... The dot.com bust scared investors. Many of them decided they wanted a tangible asset as opposed to an intangible one. You may laugh now, but investors liked the idea of something solid like real estate after the dot.com debacle. Real estate in the South Bay looked great for a number of reasons.... location...who doesnt want to live by the beach, no rent control and rents on the high side. A number of those with big bucks figured out that there is only so much ocean front and ocean view property...so they bought it and prices shot up. These investors had money and often paid cash and are probably not in financial trouble. These little Beach Cities that had been home to middle management engineers and teachers saw an influx of folks with major financial resources. After the collapse of the aerospace industry during the early 90s, a number of companies begin to relocate to the South Bay as office space was cheap. Soon all those office buildings on Sepulveda and Rosecrans were filled with companies that had little to do with aerospace. With the addition of Raleigh Studios, the Beach Cities became more and more popular. 20 years ago hardly anyone knew where Manhattan Beach was or cared. Now they give out weather reports for Manhattan Beach along with downtown LA on the nightly news. Manhattan Beach has become one of the in places to live for those in the know. The mid-management person from TRW has been replaced by the managing partner of a downtown law firm, a CEO of a Fortune 500 company or other high income individual. Property may only be "worth" what someone is willing to pay... but the Beach Cities seem to have a number of people who are willing to pay some pretty steep prices for these properties. When you have buyers who will pay large amounts of cash for property in a specific community; then that community will trend toward more stable values over the long run. In the last 10 years we have seen a higher number of people who are not only willing to pay $XXX for certain properties but are paying in cash. The percentage doesnt have to be huge just visible to be effective. These types of owners tend to be very stable and are not as affected by the ups and down that hit the rest of the population. This doesnt mean carte blanche for every home or homeowner in Manhattan Beach or the other Beach Cities; but it does mean that values are probably going to be "above normal" permanently. The phenomenon is often referred to as "the path of affluent migration". At this point in time the Beach Cities seem to be smack in the middle of that path...even in this lousy real estate market. We probably will see prices drop a bit more but I doubt it will be catastrophic unless the entire country goes into a massive recession. East of Sepulveda will always be worth less the west of Sepulveda. Walk street and Sand section homes near downtown in the 100-200 block will be worth more then homes east of Highland. Strand properties will continue to be a very hot item no matter what happens to the overall housing market. Market forces will certainly affect us...just not as much as other areas. We arent immune we just seem to get by a bit better. In answer to your question... I dont know if 220 19th St. will get one offer, 10 offers or no offers at the asking price. That will depend on whether or not potential buyers find it to be of value at the asking price. I do know that 19th is a great street, the location is close to downtown and the house is lovely. In this case location and condition may well trump concerns about what the home sold for a few years ago. Heres something else to consider... the person who might be willing to fork over that kind of money may see the $5M price as a bargain if the property fits his/her needs. Finally, it may be that Manhattan Beach has permanently changed from an affordable little beach town to a very Pricey Beach Town. Its quite possible that Manhattan Beach is going to wind up like many other areas where affordability will rise beyond the level of the average buyer. I suspect most coastal cities in Southern California are in fact headed in that direction. As a beach rat from way back, I hate to see this happening and will miss the old beach town atmosphere I grew up with. So whats the answer for people who want to buy in Manhattan Beach? Im guessing that a number of buyers are going to have to adjust their expectations. Your first house might not be in Manhattan Beach. You might find yourself in Hermosa, Redondo or El Segundo. You might have to settle for a smaller house if you must live in Manhattan Beach. This is what buyers did 15-20 years ago. They bought a small house and upgraded it when they had more resources. Then again, you may choose to rent rather then buy a home. There are a lot of choices open to you. I dont know if I have completely answered your question but it cant be because my answer isnt long enough......LOL

I've decided to start a feature called House Tales. A few weeks ago I wrote a post on 3612 Poinsettia called A Tale of a Sale. I thought you would find it interesting to know more about some of the properties that are for sale around town. For now I'll be writing about my listings but in the future I'd be happy to add properties from other agents who would like to share stories about their houses. All of us who have been in real estate for any length of time know that homes have personalties. You walk in and the house just feels good. It can be old or dirty or need work but it has a certain quality that is hard to define. Some houses feel warm and inviting while others are rather cold. A few houses just don't feel quite right.. they seem a little off. Houses are interesting and each has a story...even new homes. I've always thought that finding the right house is a bit like finding the right spouse... it takes a lot of looking and a little luck to find the one that is right for you. 511 N Dianthus, Manhattan Beach is one of those houses that just feels good. The back yard is so serene and peaceful that you just have to walk outside. You can almost hear the kids calling I'm home to their Mom after school as they went to the kitchen looking for a snack. You know this was a family home. Houses have stories and I would like to share with you the story about the house at 511 N. Dianthus. As some of you know the house is a probate. What you may not know is that the house has been owned by the same family since 1967. Today the average family in California moves every 7 years so 41 years in the same house is rare. The house was built in 1964 and bought by the current family in 1967. It was the last of the new homes built on Dianthus. I was talking to one of the children about growing up in Manhattan Beach in the 60's. Bob has shared with me some of the things he remembers about life in Manhattan Beach in the 60's and 70's. One of the things he recalled was that there were hardly any stop signs on the streets in the Hill section back then. You could ride your bike all the way to Ardmore without stopping... or as Bob recalled.. they went screaming down the hill without having to stop. I bet his Mom didn't know that! There were kids on every block and they all knew each other. They walked or rode bikes everywhere. They rode their bikes to Pacific and Center schools... no long lines of parents dropping off or picking up their kids. They played in the streets and went to the beach alone. No one thought anything about biking to the park to play ball without a parent as a chaperon. In fact they would have been appalled to have a parent along. The kids used to play tennis at Live Oak when it was free. Surfing and Volleyball played a big part in their lives as it does today for many Manhattan Beach residents. Bob and his brother loved cars. In fact they built racing cars in their garage. One of the coolest things he remembers is that Carroll Shelby lived at 6th and Valley and he saw the Cobras up close. He got to hang with Carroll Shelby and meet a lot of his racing buddies. Most of the neighbors worked in aerospace or were teachers. Back then Manhattan Beach was a very conservative town although not as conservative as El Segundo. Hermosa was the wild town and Redondo was the big beach town. Over the years the neighborhood has changed. Many of the older homes have been remodeled or torn down. In the 80's the Big houses began to be built and prices started moving up. Homes over 3000 square feet were considered very large and not many could afford them. I was in real estate and remember when the home on the southwest corner of First and Dianthus was built. The neighbors were stunned. The rumors flew like crazy... had the owner really spent a million dollars. The sum was astronomical back then. The consensus of opinion was that the owner was nuts to spend that kind of money on a house in Manhattan Beach. Today you couldn't touch the lot for four times that amount of money. Since the house was built in 1964 a lot has changed in Manhattan Beach and on Dianthus. The homes on the north and south have both had some very extensive remodeling and updating over the years. Up and down the street are some very large homes with some very large prices. One thing that has remained the same is that Dianthus is a great street and Manhattan Beach is a good place to live. So the next time the house is open.. stop by and take a look at this well loved family home.. who knows it might be the home you have been looking for...

Come and take a peek at this updated townhome on one of the best streets in South Redondo. This beautiful tree lined street is walking distance to the Beach and the Pier. Value Priced at $624,500 Public Open House: Sunday 1-4 pm This is a delightful home with hardwood floors and a new kitchen. There are 2 bedrooms.. each with private bath. The upper level features a "great room" style living area and a powder room.. The kitchen has been totally remodeled with granite counters and tile floors. Each bedroom has a private patio and there are two additional decks off the living room and kitchen.   The property is priced to sell at $624,500.   Please join me Sunday to view this wonderful home. For a private viewing please call me at 310-721-7438 or e-mail me.

Benefiting our community, our children and our schools.  www.delmarparks.org.com or 858-259-8155 or www.winstonschool.org Celebrate OUR Shores at a Free Community Event Sunday, June 1, noon to 4 pm at the Shores Make a donation to the Campaign at www.delmarshores.org.  All donations are tax deductible as provided by law, and fiscal agent The Winston School is a qualified 501(c)3 educational organization  For more information on how to get involved in the campaign, visit the website at www.delmarshores.org or call The Winston School at 858-259-8155.  Together, we can save this beautiful open space for our community!  

Oceanfront La Jolla Homes Come With a Bundle of Rights, What are They? Owning an oceanfront la Jolla home carries with it a traditional “bundle of legal rights” transferred with the oceanfront La Jolla home from seller to buyer. These are the recognized rights of the holder of title to the property and include:       Read more »

How Much Will The Compound Interest Be for My Luxury La Jolla Home? The “com” in compound also means a bit more “com”plicated. Compound interest results in interest being calculated not only on the original principal, but also interest on the accumulated interest. As a real estate agent working with clients investing in luxury La Jolla homes, if compound interest is a factor, it’s important that you know how to calculate compound interest. Of course that’s easy with an interest rate calculator, but there’s no substitute for at least knowing the basics and the effects of compounding. Here is a brief tutorial on compound interest that will help when financing luxury La Jolla homes.Read more »

  Saving for the Down Payment For Your San Diego Homes Saving funds for a down payment on your San Diego homes should be part of an overall program to get your finances in order prior to shopping for San Diego homes. This includes rounding up financial records, examining your spending habits, and setting a budget you can live with. Remember, too, that the down payment is not the only up-front expense. An allowance for closing costs should also be included in your savings budget. How much is required? The down payment is usually expressed as a percentage of the overall purchase price of the home, and varies depending on the lender, the type of financing and amount of money being lent. In the past, the typical down payment was 20%, but in recent years lenders have been willing to offer conventional financing with as little as 3% down. U.S. Government financing programs, such as those offered by the Dept. of Veterans Affairs (VA) or the Federal Housing Administration (FHA), also require minimal down payments. Private mortgage insurance Typically, if your down payment is less than 20% of the purchase price, lenders will require you to carry PMI, or private mortgage insurance. This insurance protects the lender in case of loan default, and usually involves an up-front payment at closing, as well as a monthly premium. However, once you have paid off 20% of the loan, you can request the policy be canceled. Some lenders cancel the premium automatically, while others require you to make a request in writing. Gifts If you are having trouble saving enough money, many lenders will allow you to use gift funds for the down payment-as well as for related closing costs. The gift may come from family, friends or other sources, but remember that lenders usually require a "gift letter" stating the gift doesn't have to be repaid. In addition, some lenders will also require you to pay at least a portion of the down payment with your own cash. Thus, if you plan to use gift money to purchase your house, ask your lender about their policies regarding gifts. Earnest money Buyers are usually required to deposit earnest money with the seller when they make an offer. If the offer is accepted, the earnest money is then credited towards the down payment. The amount varies widely depending on the seller and local custom, but be prepared from the outset to have funds earmarked for this purpose. Don't forget closing costs In addition to the down payment, you will also need to save for additional fees associated with the loan. Known as closing costs, these charges cover items such as title insurance, documentary stamps, loan origination fees, the survey, attorney's fees, etc. When you submit your loan application, lenders are required to supply you with a good faith estimate of your closing costs. Some buyers are surprised by the amount of the closing costs, which can easily run into the thousands of dollars. Remember, though, that closing costs can be negotiated with the seller. For example, you may agree to pay the full asking price in exchange for the seller paying all the allowable closing costs.

-Year, 30-Year, or a Biweekly Mortgage For Your San Diego Homes? In the past, the 30-year, fixed-rate mortgage was the standard choice for most buyers      of San Diego homes. Today, however, lenders offer a wide array of loan types in varying lengths-including 15, 20, 30 and even 40-year mortgages. Deciding what length is best for you should be based on several factors including: your purchasing power, your anticipated future income and how disciplined you want to be about paying off the San Diego homes mortgage.   What are the benefits of a shorter loan term? Some homeowners choose fixed-rate loans that are less than 30 years in order to save money by paying less interest over the life of the loan. For example, a $100,000 loan at 8 percent interest comes with a monthly payment of around $734 (excluding taxes and homeowner's insurance). Over 30 years, this adds up to $264,240. In other words, over the life of the loan you would pay a whopping $164,240 just in interest. With a 15-year loan, however, the monthly payments on the same loan would be approximately $956-for a total of $172,080. The monthly payments are more than $200 more than they would be for a 30-year mortgage, but over the life of the loan you would save more than $92,000. What are the advantages to a 30-year loan? Despite the interest savings of a 15-year loan, they're not for everyone. For one thing, the higher monthly payment might not allow some homeowners to qualify for a house they could otherwise afford with the lower payments of a 30-year mortgage. The lower monthly payment can also provide a greater sense of security in the event your future earning power might decrease. Furthermore, with a little bit of financial discipline, there are a variety of methods that can help you pay off a 30-year loan faster with only a moderately higher monthly payment. One such choice is the biweekly mortgage payment plan, which is now offered by many lenders for both new and existing loans. Biweekly mortgages As the name implies, biweekly mortgage payments are made every two weeks instead of once a month-which over a year works out to the equivalent of making one extra monthly payment (compared to a traditional payment plan). One extra payment a year may not sound like much, but it can really add up over time. In fact, switching from a traditional payment plan to a biweekly mortgage can actually shorten the term of a 30-year loan by several years and save you thousands in interest. If you're interested in a biweekly payment plan, make sure to check with your lender. In many cases, lenders also offer direct payment services that automatically withdraw funds from your bank account, saving you the trouble of having to write and mail a check every two weeks. Making extra payments yourself-do it early! Another way to pay off your loan more quickly is to simply include extra funds with your monthly payment. Most lenders will allow you to make extra payments towards the principal balance of your loan without penalty. This is especially attractive to homebuyers who are concerned about their future earning power, but still want to be aggressive about paying off their loan. For example, if you had a 30-year loan, you might decide to send the equivalent of one or two extra payments a year (which could shorten the overall length of the loan by many years). But if your financial situation suddenly took a turn for the worse, you could always fall back on the regular monthly payment. One important note, though, is that if you do decide to send extra funds, make sure to do it EARLY in the life of the loan. This is because most home loans are calculated in such a way that the first few years of payments are almost entirely interest, while the last few years are mostly applied towards the principal balance. Thus, you can get the most bang for your buck by making the extra payments early in the life of the loan.  

Tricks That Will Make Your Downtown San Diego Condos Look Huge! You don't have to knock the walls down in your downtown San Diego condos to create more space. Unless you live in a custom-built downtown San Diego condo with a luxurious bath and dressing room, you probably wish your bathroom were larger. Without adding any more square footage, you might feel less cramped if you use some of our tips to make your small bathroom look and feel larger in your downtown San Diego condos. It's true that a small bathroom can feel cozy and intimate. But it can also feel claustrophobic and depressing. Depending on your decorating style, it can be quiet and sophisticated, charming, or sparkling like a jewel box. Read more »

Empty San Diego Foreclosures and REOS Need to Be Protected If you have unoccupied San Diego Foreclosures and REOS that you are fixing up, they are probably left unoccupied. For most investors, there always seems to be the 'What If' factor when leaving your San Diego Foreclosures and REOs unoccupied. Read more »

  The Differences Between Equity or Mortgage REITs for Investors of San Diego Foreclosures and REO's. You success when investing in San Diego Foreclosures and REO'S depends on knowing the difference. There's an interim step before looking at individual REITs and their performance - understanding the differences between the two main REIT types: Mortgage REITs and Equity REITs.  Read more »

  When I buy San Diego Foreclosures and REO'S, Do I still Get a Bundle of Rights?   There are "bundle of legal rights" that are transferred from seller to buyer when you purchase San Diego REO'S and foreclosures.  These are the rights of the holder of title to the property.      The right of possession - the person that owns the title to the property owns the property; The right of control - the property owner controls the property's use; The right of exclusion - the property owner has the right to exclude others from using or entering the property; The right of enjoyment - the property owner can enjoy the use of the property in any legal manner; and The right of disposition - the title holder can sell, rent or transfer ownership or use of the property at will.   Holding title to the land means having ownership of land.  The evidence of that title is the deed.  When the property is sold, the seller executes a deed to transfer title to real property, and the bundle of rights that go along with it. Most buyers are confused by this list of rights, but once explained seems obvious as rights of a new home owner.  Buying and selling of Real Estate is a legal transaction that spells out all terms and conditions for all parties.  Failure to put this bundle of rights in writing would fail to make the real estate transaction legally binding.

Come June and the Scottsdale and Phoenix temperatures stick over 100 degrees and where do the zonies go? Coronado of course! This exclusive island of luxury ocean front and San Diego bay front living becomes the magnet for the summertime rush of Arizona luxury home and condo buyers looking that special place on the planet to call home during the heat season. Speaking of HOT, now is the absolute BEST TIME for Arizona home buyers to pick their special place in Coronado. In fact the prices for real estate and homes in Coronado have held steady and the inventory is vast. Its your time to strike gold and Jan Clements has the perfect spot for you to stay. The Hotel Del Coronado is only a putting distance away from her quaint office on Orange Avenue. Here are a sampling of the great properties that are brand new on the market: Click link for full details: J Avenue - This luxury Coronado estate is priced at $3,900,000 - $4,100,876 Special features include: 5 Bedroom 4 ½ Baths 6969 Square Feet   272 D Avenue, Coronado - This Coronado Hideaway is priced at $1,650,000 5 Bedrooms with charming, private courtyard & sparkling pool. Reversed floor plan with master and living areas up to take advantage of great San Diego skyline views.   1603 Glorietta Blvd. Coronado WOW¦A Great opportunity here! Remodeled and gorgeous Coronado view condo. Features 2 Bedrooms nice open floorplan plus an incredible roof top terrace that overlooks the Coronado Yacht Club and Bay. Walk to the beach, the Hotel Del, golf & tennis. Vacation home or year round fun!!!   For full access to all Coronado Real Estate and Homes, please vist our 24 hour showing center online at www.JanClements.com I look forward to hearing your comments! Take care and enjoy your trip to Coronado

Reduce The Risk of Damage in a Vacant Coronado Home You’re traveling on an extended holiday or away for business, maybe you’re Coronado home is  sitting vacant  as an investment or as a seasonal residence.  If this sounds like you than I know you’ve ran through the “What If” scenarios dozens of times.  So what really can happen while you’re away?  More importantly what can you do to prevent it?Read more »

Energy Conservation Tips For Your Coronado Bayfront Condos Requesting a free home energy audit from your utility company is a good way to start saving energy and money in your Coronado bay front condos.  Lowering you carbon footprint and emissions is a great way to help the environment and save some green.     Read more »

Saving for the Down Payment For Your Del Mar Homes Saving funds for a down payment on your Del Mar homes should be part of an overall program to get your finances in order prior to shopping for Del Mar homes. This includes rounding up financial records, examining your spending habits, and setting a budget you can live with. Remember, too, that the down payment is not the only up-front expense. An allowance for closing costs should also be included in your savings budget.Read more »

15-Year, 30-Year, or a Biweekly Mortgage For Your Del Mar Homes? In the past, the 30-year, fixed-rate mortgage was the standard choice for most buyers      of Del Mar homes. Today, however, lenders offer a wide array of loan types in varying lengths—including 15, 20, 30 and even 40-year mortgages. Deciding what length is best for you should be based on several factors including: your purchasing power, your anticipated future income and how disciplined you want to be about paying off the Del Mar homes mortgage.   Read more »

How Can I Leverage My Money To Buy Del Mar Homes? One of the greatest financial aspects of buying a Del Mar homes is the ability to leverage your money. Simply put, leverage allows you to use a small down payment and financing to purchase a larger investment. For example, if you bought a $125,000 home with 10 percent down, you leveraged the $12,500 down payment to purchase an asset worth 10 times that amount! Leverage is a great way to purchase Del Mar homes.   Read more »

 The Covenant of Rancho Santa Fe ˜Rancho Paso Tiempo   A refined expression of Southern Californias luxurious yet relaxed lifestyle, is located on nine spectacular acres within one of the countrys most exclusive residential enclaves, the Covenant of Rancho Santa Fe. Just down the coast from Beverly Hills and Newport Beach, Rancho Santa Fe Covenant is the Jewel of San Diego. This very private family compound is truly a unique safe haven. Created from the core structure of a 1920s Monterey Spanish style home, the estate has been meticulously detailed and updated with every modern amenity. Upon entrance, as you drive through the entry gates, you will truly be amazed as this exceptional property unfolds to capture your senses. The warm and inviting primary residence is sophisticated yet comfortable enough for everyday living. Featuring six oversized bedroom suites, seven full and three half baths, theatre, billiards room with attached bar area, lacquered walled conference room, Gentlemans private office, gourmet chefs kitchen, and a sumptuous master retreat. A separate pool cabana and private gym boasts stone floors, two tiled bathrooms, and catering kitchen. Tree House, a one bedroom, two story guest suite is surrounded by tropical foliage and overlooks the 50 mosaic glass tile pool.      Mosaic Glass Tile Pool The Little House is an additional one bedroom guest house, which includes a kitchen, living room, and private patio. An orchid greenhouse, potting shed, nursery shade house, and a nine car garage, complete this area of the estate.           Private Guest House with Two Master Suites A short walk from the main residence, the stunning guest house is complete with a private gated entrance, two master suites each with a private patio and outdoor shower, full kitchen, and garage. The guest home is perched above its own secluded emerald green mosaic glass tile pool and spa. Stepping up from the flagstone pool deck is the dramatic Entertainment Pavilion with two fireplaces, chefs display kitchen, wet bar, wood burning pizza oven, and dining room seating for twenty. Ideal for entertaining, whether its casual or formal, family or friends, your guests will find themselves surrounded by intimate settings and beautiful surroundings. Lighted paths wander through botanical gardens.  Rare, irreplaceable, specimen palms and cycads, as well as abundant flowering plants complement the estate.  Immaculate equestrian facilities include box stalls and turn outs for nine horses, two training arenas and pastures.     Presented By Laura Barry   Barry Estates, Inc., 6105 La Granada, Suite Q, PO Box 3391, Rancho Santa Fe CA 92067 (858)756-2266 / (858)756-9429 fax

How Can I Use My Home Equity To Invest In Escondido Homes? Successful business people preach that you winning big can't happen if you don't gamble at all.  You can apply this same theory to investing in Escondido Homes.  A powerful investing tool is equity and using equity lines of credit to purchase Escondido homes.  If you have purchased a property recently, or have owned your home for several years, chances are you are sitting on a decent amount of equity in your home. There is no risk at all to accruing and doing nothing else with the equity you've built.  If you haven't inquired about an equity line of credit for bills, home renovations or a new car purchase, you may consider using this powerful tool to invest in Escondido homes.  It's a popular discussion these days that investing in real estate is not Risk Free.  Along with the potential for a huge return on your investment also comes the risk of the investment not returning as you intended.  However, long term real estate investors know that investing in real estate is still one of the safest places to put your money - and history shows the facts.  If you do your research and wait for just the right investment for you, you can make significant gains on your investment. When I first invested in real estate, I was nervous and unsure of the outcome.  In time, I've learned to write out some clear goals for myself, followed by a plan and rules.  Try this for yourself and the game of investing in real estate will pay off - and will be fun all at the same time!

  Escondido Condos Make Long Term, Passive Income a Possibility. Investing in Escondido condos can create a fantastic stream of revenue for investors.  On the other hand, if you are not an efficient landlord, investing in this way can prove more work than it's worth.  Here are some tips to being a great landlord, for both your tenants and your wallet.      * Buy Low Sell High The success of your investment property meeting its goals begins with the purchase.  If you buy at top dollar, you'll be locked in to a high rental rate, making the property either more difficult to occupy, or less profitable.  The lower price you buy the property at, the more below market value, the more positive cash flow you can create on the property, and the easier your job will be keeping it rented.    * Do your Own Repairs Have you ever calculated the amount of money you spend on a handyman to fix small items in your home each year?  Now multiply that amount times each investment property and add 10-25% for initial renovations needed on a new home investment to get the property rent-ready.  That adds up to a lot of money!  If you do the simple renovations and small fixes yourself, you get to pocket all of that extra money.    * Manage Your Tenants This step starts with choosing the right tenant.  Of course you want your home rented as quickly as possible - vacancies don't pay the bills.  However, consider the value of waiting to find the right tenant.  Excellent tenants will fulfill the term of the lease, pay the rent on time and take good care of your property.  For the 2 weeks or a month you may wait to find just the right person for your home, you'll make up in the care of the home and the no-headache result of reliable tenants.    There are a plethora of real estate investors in the world and some that top the list of success are landlords!  Developing a steady, reliable, no-headache form of cashflow is priceless. 

Energy Conservation Tips That Can Save Money in Your Escondido Homes If you are looking for ways you can make a different in the green energy effort, you can take action in your own home by getting an energy evaluation of your Escondido home's energy usage.  Did you know that you may be able to request green power from your local power supply company?  Call your power company and ask for their help in reducing your power usage and how you can set up your Escondido homes to be more efficient.      * Get a Free Home Energy Audit Most public utilities conduct free energy audits for no charge to their customers.  This evaluation will tell you how much power you use in your home each month and will allow them to give you ideas on how to reduce your energy use. You can not only increase your energy efficiency, but you'll also save money on your bills!   * Green Power? Did you know that your power supply company may offer something called Green Power?  Green Power is electricity that is created by using a renewable energy resource, like solar, hydro or wind power, biomass or geothermal power.    More than 50 percent of energy customers have a green power option available to them in 36 states.  All you have to do is call and ask your electricity supplier. 

In Lexington Hills this month there are a total of 16 active listings. The median price per square foot for homes pending sale or sold since July 1, 2008 is $199.39.   Of the 3 Pending Sales right now the greatest number of sales are within the 1900-2000 square foot range with 2 homes fitting that description. The average time to sell a Lexington Hills home is currently 70 days.   If you're thinking of selling your Lexington Hills home don't settle for some generalized over the web price estimate...I'll send you a FREE, accurate, customized "Pin-Point Price Analysis" using targeted property data just like a professional home appraiser! Call my office at 983-7653 or email me at jeff@hoffmanrealtygroup.com

In Empire Ranch this month there are a total of 54 active listings. The median price per square foot for homes pending sale or sold since July 1, 2008 is $212.34.   Of the 15 Pending Sales right now the greatest number of sales are within the 2000-2500 square foot range with 6 homes fitting that description. The average time to sell a Empire Ranch home is currently 51 days.   If you're thinking of selling your Empire Ranch home don't settle for some generalized over the web price estimate...I'll send you a FREE, accurate, customized "Pin-Point Price Analysis" using targeted property data just like a professional home appraiser! Call my office at 983-7653 or email me at jeff@hoffmanrealtygroup.com

In Broadstone this month there are a total of 23 active listings. The median price per square foot for homes pending sale or sold since July 1, 2008 is $237.01.   Of the 8 Pending Sales right now the greatest number of sales are within the 1300-1450 square foot range with 5 homes fitting that description. The average time to sell a Broadstone home is currently 74 days.   If you're thinking of selling your Broadstone home don't settle for some generalized over the web price estimate...I'll send you a FREE, accurate, customized "Pin-Point Price Analysis" using targeted property data just like a professional home appraiser!  Call my office at 983-7653 or email me at jeff@hoffmanrealtygroup.com

Thinking of jumping into the Silicon Valley real estate market this year, before the conforming loan limits rise up again at the end of 2008? It is a buyers market in Santa Clara County, just like in most of the country, so if you are dealing with increasing rents, this may be the opportunity you've been waiting for.Something to factor in, though, if you are looking at a condominium, townhome, or other property in a "planned unit development", is the monthly Homeowner Association Fees. What do they usually cost?How much do they go up each year?What are the odds of getting stuck with a "special assessment"?These are a few of the questions you should ask and areas you must investigate if you decide to buy a condo or townhouse. Part of the answer will depend on location. Fees for lavish condos or townhomes in Saratoga, Monte Sereno, Los Gatos, Almaden, Los Altos, and Palo Alto will tend to be more than in downtown San Jose, Morgan Hill, Berryessa, Alviso, or more affordable areas. This is all the more true if the community sits on an earthquake fault or is so close to it that the complex has earthquake insurance. Such is the case with Saratoga Oaks in downtown Saratoga. The earthquake and blanket insurance policies for Saratoga Oaks are not part of the monthly assessment - but there are several months a year in which there are additional payments due to cover these two types of insurance, and they add up to a large chunk of change over the course of 12 months. (And it will not be evident on the MLS printout - that only shows the "regular" payment amount will show there. So for instance, a 2 bedroom unit there might run $385 per month for the normal assessment, but on some months there will also be an earthquake assessment of nearly $450 and other months there will be blanket insurance assessments too. It all adds up.) Most of the answer, though, will depend on amenities and what's covered. Communities with pools, rec rooms, tennis courts, playgrounds, etc. will always run more than those with the bare bones. Which sells better? Many people want a pool, but many others don't - and don't want to pay for it either! In most communities, front yard landscaping, the roof, exteriors of the homes and paving are included. But not always!  Last year I sold a home in West San Jose and while the roof was covered, exterior walls were not - so the seller had to pay for termite damage that was discovered there. That's unusual, though. What are the typical costs for an HOA?  For a condo complex or townhouse complex in Silicon Valley, it's not unusual to see $300 or so per month due for a community without a pool or other special features. In places like The Villages (a retirement community in the east foothills of San Jose), some condos, townhomes, and houses do not have golf course privlidges, and their dues are not too steep. But those which do support the golf course may have dues close to $500 per month. Finally, it should be remembered that unlike mortgage interest, the cost of the monthly homeowners association fee cannot be deducted from your income taxes, unfortunately. Talk with your lender or financial planner for input on a budget for HOA dues that makes sense for you. Or consider stretching a little and get into a single family home, if possible!

Whether you are looking to buy a condo, townhome, patio home, or single family home in Silicon Valley, it's imperative that you revisit the neighborhood multiple times before deciding to buy (or to complete the purchase). This is an important part of your "due diligance" as a home buyer. Why revisit so many times? Because certain key things may differ from hour to hour or workday to weekend day: - noise levels - the number of parked cars on the street (few is good, many suggests overcrowding) - neighborhood activity (good or bad: people strolling, walking dogs is a good sign - too many yard sales or other activity may not be a plus) If you visit on a weekday morning or afternoon, the street could be relatively free of cars and other vehicles, but it might be entirely different on a Friday night or Saturday afternoon. Conversely, if the neighborhood appears consistently appealing, quiet, well kept, and not overcrowded or loud, that's something to appreciate as you factor in which home to buy. You can usually remodel your own home, but it's very difficult to do a makeover on the street where you live - so investigate throroughly before you buy, whether it's in San Jose, Campbell, Saratoga, or Los Gatos. You will be more sure of your decision and happier with the results if you do your neighborhood homework upfront.

http://www.realtown.com/liveinlosgatos/blog/los-gatos-homes/is-being-a-few-blocks-from-los-gatos-schools-at-the-top-of-your-homebuying-priorities-listThe Los Gatos real estate market seems to be improving as more homes are selling now than in recent months. The "absorption rate" has been declining and is now well under the 6 months that differentiates a buyers vs a sellers market. Many are thinking that the worst is behind us. And if that is the case, now really is the "best time to buy" in Los Gatos, San Jose, Saratoga, or anywhere in Silicon Valley.Recently I listed a great, sunny home and it will be held open this weekend for the first time. If you are looking to buy a house in Los Gatos, with the schools and close to shops, stores, banks and restaurants, you will want to know about this home and see it ASAP!120 Magneson Terrace (off Magneson Loop and Los Gatos Blvd), Los Gatos, CA 95032Offered at $1,359,000 - New Roof  as of late June!! 3 Bedrooms 2.5 Bathrooms Living Room, Dining Room, Study (or Music Room or Library) Lovely Hardwood Floors Throughout (all but bathrooms) Appx 1800 SF Lot Size appx 8700 SF Los Gatos Schools very close by Home situated on a quiet cul-de-sac Air Conditioning & Extra Insulation Laundry Room Attached 2 Car Garage So close to the schools and shops that it's "walk to", "bike to", "scooter to" and for driving, "less than 2 minutes to" - no matter how you get around, this home is close to schools and shops! Virtual Tour of 120 Magneson Terrace, Los Gatos, CA 95032

Long Beach, Ca.  In the current economy where Americans are strangled at the pump, squeezed in the grocery market, worried about finances, and trying to save every dime possible.  It is with pleasure that I share with you how my personal family recently accrued an approximate savings of $285.00-$300.00 a month by changing our mobile phone service company.   In the old days, before mobile phones, every household had at least one hard land-line phone.   Granted, if there were teenagers, an occasional second line was installed to handle the traffic.  Nevertheless, telephone service was pretty straight forward: one home+one phone=one bill.   Today in America Life, with the advent of mobile technology, mobile phones have become considered "essential."   Phones are not just for talking anymore, they supply the tools for web access, photography and video, text messaging, video gaming and e mail not to mention contact management and calendar access, and emergency life line.   A simple 4" mobile phone has become a mobile Computerized World Access Portal(CWAP) and if we modify the letter "W" to an "R," we as parents can relate to what it is our children are spending their time doing with these devices besides using them for there best and most important use: Parent/Child communication.  That said, unfortunately, the world is not as safe as it was when I was growing up and today, it is considered good parenting to make sure that your child has emergency phone access and a mobile phone is the best child locator tool. As long as it is monitored carefully, I agree with allowing youngsters access to a mobile phone, if not on a daily basis on a case by case basis.  For example, if they are going on a field trip at school, a Sporting event, or some other supervised outing wherein it is convenient and smart to be able to communicate via a phone.   Meanwhile, the old formula of one home+one phone=one bill has morphed into:   one home+one phone(a land line)+internet service(DSL)+cable access+several mobile phones=multiple outrageously expensive monthly multimedia bills that can cost thousands and thousands of dollars a year.   Let's take a residential phone service at home that with taxes can cost a min. of $50-$100 a month, sometimes the DSL is provided by the same phone company, sometimes you have to pay for the internet access separately.   Cable television access that routinely runs between $50- $100 a month for a minimal plan.  Again, you may be able to combine cable with hard wired internet access for an extra charge.   Then there is the litany of mobile phone service providers including:  Sprint/Nextel, AT&T,Trac Phones, Cingular, Verizon, etc.  Although, most of these have some type of family savings plans, I have to share with you the recent advent of Metro PCS in the Southern Californian Market Place  and how it is saving my family a considerable amount of dough.  Hopefully, without sounding too much like a commercial, for a limited time, Metro PCS is offering four lines with unlimited calls for $100/month.  Although, the phones are limited in area coverage(not so good outside of Los Angeles, Riverside, San Bernardino, Ventura and Orange Counties, the service is inexpensive and meets most families needs.)  Note that is $25/ month per phone with unlimited calling including local, text messaging, and long distance.  Best of all, Metro PCS did not require my family to sign a contract.    If you are a business traveler, this system will simple not work for you.  This is not as of yet, a nationwide company.  The coverage is mostly local.  There is no coverage as of this writing in Portland; however, Las Vegas in connected.  Also, another draw back is as of today, this plan does not work with the Blackberry Phone.    The draw back for the plan is that you must pay for the phones up front and this plan does not include web access.  But for $5/month more per phone you can add the web access.    Now, compare what I was recently paying at a competitor:   For unlimited web access and phone calls my old phone was $135/m. I added a second phone for my wife which cost another $100/m.              My daughter was paying at least $50/m for her own service. Our land line at the house is normally around $70/m.   Imagine putting out almost $400/m just to be able to communicate via mobile and home service.   This was costing us an average of $285-$300/m with taxes for just three mobile phones and an additional $70/ month for our home line! Imagine putting out almost $400/m just to be able to communicate via mobile and home service. Now, with Metro PCS's plan, we have increased the amount of mobile phones from three to four phones.  We use one for my business, one for my wife, one is being used by our 17 year old daughter, which leaves a spare at the house for any of the other four younger children that might need it for a special occasion all for only $100/m.   Now, because of the unlimited long distance part of our plan,we can cut back our land line service to a more basic plan and save an additional $35/month.  All together the total savings for my house hold by utilizing the Mobile PCS is between an astonishing  $215/m-$250/m.  Now that's a monthly savings of between $2500-$3000/year.   I see that my family members are going to be able to fill our gas tanks, after all this summer!

Long Beach, Ca.   In these difficult times, American families are trying to save every penny possible.  Today, I read in the paper about how large Super Market companies like Kroger's and Walmart are re-packaging certain food essentials in smaller containers in an attempt to make the pain at the register more acceptable.  In other words, you may be getting the same product for the same price that you did last year in a smaller portions.  For example, instead of buying a regular gallon of milk you are getting three quarts of milk for the same price that you did last year.  Also, you may see eggs on the shelves in six packs instead of the regular dozen.    This is the result of food retailers trying to meet consumer demands.   Pinched consumers are only buying today what they need for tomorrow or by the end of the week.  Little food stocking is being done in American households and people are heading to the market now two times a week vs. say, once a week as in the old economy.   In regard to home savings.  Home-ownerL Insurance Policies have all kind of available savings if the American consumer is aware of the options.   The following are six ways to save money on your home insurance policy:   1.  Increase the amount of the deductible.  By increasing a deductible from $500 to $1000 it can give you an immediate benefit.  Of course, remember that when you make an insurance claim that it is monitored and recorded by the insurance companies in a national database so that if you have a history of making a lot of claims then you will be billed accordingly on future premiums.  Likewise, if you do not have a lot of claims you will benefit from being a "good customer."   2.  If you have the money available, pay the entire annual insurance premium upfront.  Paying up front your home insurance policy can help you save between five and ten percent on the premium.  Remember, if you don't pay your home insurance inside your monthly mortgage payment, you will have to pay the annual premium alone or break the premium down into twelve monthly payments.  Traditionally, only home buyers who put 20% down had this option of paying insurance separately from their mortgage; however, in the last seven years this requirement was softened similar to the credit requirements of buying real estate.   3.  Consider allowing the same insurer of your home insure your automobile(s).  Most of the major carriers offer great savings if you insure your motor vehicles with the same company.  This will simplify your billing process making complicated modern American life a little easier by having just one insurance professional to call instead of two or three.    4.  Install an electronic security system in your home and consider Central monitoring stations.   Most of us are familiar with the generic security systems that are associated with burglar-proofing a home.  This is considered a good edge of protection by the insurance companies.  More obscure would be central monitoring systems that some of the same security hardware may function as to shut off the water if a leak is detected while the homeowner is not there, or raise the temperature in the water pipes to avoid freezing pipes.  Also, Make sure if you live in a gated community that this is reflected in your payment.  Gated communities are considered a better and safer risk by insurance companies, too.   5.  Disaster Preparedness.  Although we have not seen hurricanes in Southern California(yet).  Storm shutters and shatter proof glass can help reduce premiums.  Question:  With modern Earth changes.  If hurricanes do hit Baja California, and they do, then why couldn't they hit San Diego, Los Angeles or Orange Counties?

Long Beach, CA.  Finally, Jack Kyser, an honest real estate economist and Senior Vice President of the Los Angeles County Economic Development Corp.,  discussed the State of Southern California Real Estate at the annual Income Property Lending Conference in Long Beach.  Mr. Kyser, recently gave an address on the way the economy is moving.  In regard to the housing market, Mr. Kyser was the first economist that I have ever heard talking about a housing ‘Depression.’ As serious as that sounds, this was actually refreshing since no other economist, to my knowledge, in a public forum has had the guts and fortitude to call a spade a spade, address the problem, offer some solutions, and get on with it.  Mr. Kyser detailed the current housing situation, and addressed the question, ‘How much further will prices fall?’      ‘Between 15-20%,’ more was his answer. Considering that since February of 2007 until April of 2008 the medium sales price in the five Counties in Southern California, including:  Ventura, Los Angeles, Orange, San Bernardino, and Riverside has fallen from $505,000.00 to $375,000.00, it appears that an additional slide will be a boon for people interested in purchasing real estate at bargain prices with unbelievably low interest rates.  Now, if Mr. Kyser is right and the average property in Southern California goes down to between $300,000.00 and $320,000.00, it will be a great buying opportunity that only seems to come along every 15-30 years.  Consider this, that while food prices in the last year have gone up between 30% and 40%, and gasoline prices have gone up by almost 100%, that real estate is going down 20-25%. This is an amazing figure when you consider that this percentage in reduction does not include regular inflation.  Remember that the government figures of 4% does is not a real number in that it does not take into account the aforementioned prices of gas and food stuffs.  The truth of the matter is that the true inflation rate when these are included is between 10-15% a year.  Add this inflation number to the current correction in housing prices and true prices are really off between 25% and 40% depending on what market youre in.   Also consider the fact that current interest rates for thirty year fixed rate mortgages are between 5.5%-6% and you get housing at the most affordable price in years.

Real Estate Radio USA Episode 143 June 20, 2008 An excerpt from Real Estate Radio... "On todays show we talked about the federal crackdown they aptly named "Operation Malicious Mortgage". We had two interviews today. Our first interview was with our Internet Marketing and SEO expert, Mary McKnight from RSSPieces.com and the second was with top-producer, Pete Sabine. All of this and more on this episode of Real Estate Radio USA. We started the show with the latest in real estate news. In the last day or two the federal authorities announced a massive crackdown and arrests in what they are calling "Operation Malicious Mortgage". Our first interview today was with our favorite Internet Marketing and SEO expert, Mary McKnight from RSSPieces.com. Mary spoke with us today about how to improve an old blog and market drive more traffic,  ways to increase the number of leads your site generates, using competitive warfare and reputation management on social media sits, and how to be smart when getting backlinks. Our second and final interview of the day was with Pete Sabine from Contra Costa County Market Watch.com. Pete joined us to talk about how blogs have increased his business, how he uses technology to increase his business, and how he sees the cycles in the real estate market including key indicators to look for."    Real Estate Radio USA Episode 143 [119:07m]: Play Now | Play in Popup | Download  Mary McKnight from RSSPieces.com [38:17m]: Play Now | Play in Popup | Download  Pete Sabine [33:59m]: Play Now | Play in Popup | Download  

FHA Basic Appraisal Checklist for real estate transactions in California, the San Francisco Bay Area, Contra Costa County and throughout the country...   SUMMARY...     Since its inception The Department of Housing and Urban Development (HUD) has established minimum property standards. While these standards have varied over time the recent changes have been some of the most dramatic in decades. By eliminating many of the "nuisance" repairs and mandatory inspections HUD hopes to make it easier to buy or sell a home with FHA financing. The most recent changes are highlighted bold on this checklist.   POOR CONDITION - A lack of maintenance that gives a "run down" look to a property is acceptable. Missing or damaged flooring or carpet, rotted or worn out countertops, poor workmanship, damaged plaster or drywall, bathroom tile, missing or damaged interior doors, debris, trash, or other cosmetic items that do not otherwise jeopardize the safety or structural integrity of the property are acceptable and will not require repair.   CONDOMINIUMS - Projects must be at least 51% owner occupied and may not have a "right of first refusal" clause in the association documents.   STRUCTURAL DEFECTS - Large settlement cracks, sagging floors or roofs, and significant deteriorated wood are conditions that require professional repair. Grading must be adequate to drain away from house.   TERMITES - HUD will no longer automatically require a termite inspection. Minor (non-structural) termite damage will not require repair. Wood/soil contact that is not due to a structural problem will no longer require repair. Visible evidence of active or past infestation, or evidence of dry-rot will require termite report with clearance of Section I items.   LEAD PAINT - For homes built before 1978, any peeling, chipping, or chalking paint on the house, detached garage, shed, fence, or anywhere on the property must be scraped, primed, and painted. Use tarps to collect paint chips to avoid contaminating the soil. If the home is built after 1978 HUD will no longer require painting of defective paint surfaces, in most cases.   HEATING - The property must have a permanent heat source. The heating and air conditioning system (if present) must be operating properly. Space heating systems are acceptable if installed in accordance with local building codes. Combustible (oil/gas) heat requires exhaust ventilation.   ROOFS - Leaking and worn out roofs require repair or replacement. While a remaining life of at least two years is no longer specified a roof with a life of less then two years should be considered "worn out". HUD will no longer require automatic inspection of a flat roof system.   WINDOWS/DOORS - HUD will no longer require broken glass to be repaired. Exterior doors that are in poor condition but are otherwise functional are acceptable. Windows that stick, are loose, or are otherwise in poor but serviceable condition should be acceptable with the following exception: Inadequate access/egress from vbedrooms to the exterior of the home is unacceptable. At least one window in each bedroom must open and close freely in order to allow escape in case of fire. Burglar bars on bedroom windows must have a release mechanism (at least one per bedroom).   ELECTRIC/UTILITIES/MECHANICAL SYSTEMS - Fuses are acceptable. 60amp electric service may be acceptable (a small house with oil or gas for heating, cooking, and hot water). Loose wiring, open splices, and other hazardous conditions will require repair. An exception is low voltage (telephone or cable TV) wiring that would not present a hazard. All utilities should be on in vacant homes in order to avoid re-inspection. All mechanical systems must be operating.   CRAWL SPACE & ATTIC - Access to both the attic and the crawl space is required. Both must have adequate ventilation. Crawl spaces must have sufficient clearance for inspection and maintenance.   PLUMBING - Minor plumbing leaks and defects are acceptable. Major plumbing problems will require inspection and repair. Water heaters must have a pressure relief valve.   SAFETY CONCERNS - Smoke detectors are not required but if they are present they must work properly. HUD no longer requires repair of the safety device that automatically stops an obstructed electric garage door opener. Trip hazards such as uneven walkways or sidewalks will not require repair. Missing handrails on stairways are acceptable.         HUD does not require the following: Appliances Screens Driveways Lawn sprinkler systems Pool repairs (unless they present a safety concern).   To learn how to interpret this information or further discuss, please feel free to contact me directly or post a comment to the blog. Contact me at (925) 385-2340 (PST) or send an email to Pete@ContraCostaLiving.com. Visit Pete's web site www.ContraCostaLiving.com

Click here to view details of our featured listings. Please feel free to contact me to arrange a showing or learn more. Pete Sabine at 925-385-2340 or pete@contracostaliving.com