Are you frustrated from searching the Internet, browsing day after day on sites that seem to go no-where.? Do you need a certain city, school district, or neighborhood? How many bedrooms or baths do you need? How soon are you available to go see these properties?

Many new home buyers need to be in a certain town or city for certain benefits.  I work with many such buyers every day. Many buyers wish to save money by searching for properties on their own. There are many sites on the Internet  where you can do this. But you may want to know the current status of a property; Is it a short sale, and in what stage of the process it is, whether it has multiple offers.  . Only a realtor will be able to find these answers and negotiate on your behalf.   This is the service you pay for so make use of the professional expertise of your Realtor.

Once you make a commitment to finding your home, you will have many more questions. You need to find a  Realtor, who is  willing to work with you and set aside the time to locate only those  properties that meet your needs specifically. Some properties are REOs others are short sales. Do you know the difference? Only a Realtor can make the appointments to show these properties. Read the rest of this entry »

INVESTOR’S PARADISE!

Did you know that there are pockets of areas within the bay area, that are simply overflowing with investment properties?  Have you considered buying a rental ?  In today’s market, many investors are buying up the deals, refurbishing them for a very reasonable cost, then re-selling or renting them out for future gain.

If  you are a property owner already, it is much easier to purchase rental property.    I highly recommend working with a Realtor with  property management experience   and who can answer your questions about rental property.

So where are these wonderful properties that you can grab up?  These are listed on the MLS and scattered in all cities.  Some cities have more and some have less.

Fact: The city of  Oakland, is the third largest rental property community in the U.S.

On the City of Oakland website, you can find  recent  Market Updates on

Residential Housing.  According to the 2009 National Apartment Index conducted by Marcus & Millichap Research Services, Oakland ranks as the 6th best market in the nation.¹

Similarly, Oakland is named  as the 3rd best city for apartment investing in the United States .

Many people have lost money in their retirement funds, and other financial investments.  One client of mine turned into a savvy investor after he looked at his half yearly prospectus and discovered that most of his allocations had negative balances!  When was the last time a bank paid out a decent rate of interest?  Many investors have decided to take charge of their finances. Making a decision to invest funds in real estate and start the equity building process is one of alternatives that many investors have taken.

When bad news comes out of the housing market, skittish potential buyers opt to wait for the market to bottom out. And since they have to live somewhere, these would-be buyers rent.

Much like a buyers’ market in the residential sector, the best renters’ markets occur where supply is abundant, price growth is flat and renters can get the best value for their dollar.

You may be able to own a home for not much more than what you are paying in rent.

Check the chart below to see how quickly rent payments can add up. Maybe it’s time for your to  invest that money in something that lasts — a home of your own.  It’s a buyers market. Take advantage of the opportunity!

For many, the after-tax cost of a home loan could be less than the cost of rent. That’s because the interest portion of each mortgage payment may be tax-deductible. In most cases, property taxes are also deductible. Your should consult a tax advisor for details.

If you are thinking about buying a home, call me for your free consultation. There are a wide range of options for you today.

Contact me today for more information.

The best way to find out about neighborhoods is to do a little bit of research yourself.

Chances are, you’ve seen a house in that neighborhood, or had your eye on a home and wished you could buy there. Ever wonder if other people might be thinking alike?  Is there a perfect house? No. But there is a perfect house for every buyer and this could be your lucky day.

Now you have your opportunity and one pops up that you don’t want to miss. So you cal your trusted real estate professional on the phone and you have a zillion questions.  How much, how long and how many offers has this property had.  After all, the signs been outside for months.  It’s probably a dump inside. Right?  Wrong.  Read the rest of this entry »

When you miss your mortgage payments, foreclosure may occur. This is the legal means that your mortgage company can use to repossess (take over) your home. When this happens, you must move out of your house. If your property is worth less than the total amount you owe on your mortgage loan, your mortgage company or HUD could seek a deficiency judgment. If that happens, you not only lose your home, you also would owe your mortgage company or HUD an additional debt. Foreclosure or a deficiency judgment could seriously affect your ability to qualify for credit in the future. So you should avoid it if all possible!

DO NOT IGNORE THE LETTERS FROM YOUR MORTGAGE COMPANY. If you are having problems making your payments, contact your mortgage company immediately. Explain your situation. Be prepared to provide them with financial information, such as your monthly income and expenses. Without this information, they may not be able to help. Stay in your home for now. You may not qualify for assistance if you abandon your property. Read the rest of this entry »

Four  Essential Steps to Conserve Energy and Save Money Through the Winter
As we leave winter behind, it’s important to take these four steps to improve your home’s energy efficiency — they’ll save you money and keep you warm, all season long.
1. Insulate
Insulating areas such as attics, basements and crawlspaces can make your home more comfortable and lower your energy bills.
2. Seal your windows
Use silicone caulk to seal air leaks or place shrink wrap film over drafty windows to help reduce energy loss.
3. Have your furnace inspected and clean your HVAC system
“Having your HVAC system inspected and cleaned can extend the life of your furnace and can even make it run up to 20 percent more efficiently” says Aaron Marshbanks, board member at NADCA — The HVAC Inspection, Maintenance & Restoration Association. “Having your system cleaned can also save up to 30 percent in energy costs and the increase in air flow usually translates into increased comfort.”
4. Change filters regularly
Once you have a clean HVAC system, it’s crucial to change your furnace filters regularly. Change your furnace filter once a month to keep your system running at peak performance.
For more information on how to winterize your home, visit NADCA.com.

Is this cliché true when  it comes to REAL ESTATE??

Is it possible that different buyers will view the same property through different eyes. ??

There was this one bank owned  house for example.  It listed at below market and was attracting many buyers.  These buyers  were ready to buy and  were pre- qualified   for home loans with reputable lenders.

THE FIRST BUYER  who happened to be a first time buyer   commented on the condition of the home, the   smell, the stained carpets, the patches and nail holes in the walls and such.  This buyer noticed many of the cosmetic conditions of the home.

BUYER number 2, was an investor having owned several  properties over the years.  His view   s very different from buyer 1. The investor did not care about the cosmetic conditions, but instead was more concerned about   location, nearness to freeway,  number of beds/baths and garage.

Furthermore, the investor was pleased about the  dual pane windows, which let lots of light into the rooms.   All the while thinking of his potential return on investment.

For this example, the outcome is easy to guess.

Whether you are first time buyer, seller or investor, work with a licensed real estate professional (with REALTOR designation).  Your Realtor, will   know the market well and can help you find a home for the price you want to pay.  Also, beware of the news media, and other ‘friends and co-workers- who might give you incorrect advice.

Contact me if you are looking to buy or sell today.  My expertise extends to homebuyers, home sellers and investors all over the bay area.

Does anyone know if it’s a sellers market or a buyers market?  Have we hit bottom? Are we hydroplaning?

It’s a   fine line where there is not clear answer really.

In 2010 short sales seems to be on the rise, with bank owned properties still available, but not as plentiful as in2008 and 2009.  This means increased activity over a longer period of time for buyers & sellers.  More intense negotiations in some cases.  Properties receiving multiple offers, with a great number of buyers backing out and listings going back on the market.  All in all, it’s been pretty tumultuous for brokers, agents, and real estate professionals in general, and all the departments and other entities that support them.

Take for example the escrow companies, inspectors, & appraisers who start working on these short sale files.  Many hours spent with sometimes no apparent resolution. On the other hand, 2010 seems to have been a year when lenders have gotten a better handle on the short sale process, and some of them even streamlined their office staff and trained additional personnel to handle short sale negotiations.  The situation is a new beast that no one was familiar with and not knowing which way it would trample.

It’s taken a while for banks to discover that ACTING is better than REACTING.  However in this discovery period banking institutions have tightened the reigns on the lending process causing escrow periods to increase from the normal 30-day escrow to a 45, 60 or even 90 days escrow.

So ultimately it’s not even a buyers or sellers market.  It appears that 2010 was a lender market for the most part.

Let’s see what developments are headed our way in 2011.

Wishing you a HAPPY NEW YEAR and a prosperous one!!!

The market is ripe.  How ready are you?

By the way, the best way to do some research on your own is to drive by neighborhoods at different times of the day and night. Chances are, you’ve seen a house in that neighborhood, or had your eye on a home and wished you could buy there.  Now you have your opportunity and one pops up that you don’t want to miss.

Ever wonder if other people might be thinking alike?  Is there a perfect house? No. But there is a perfect house for every buyer and this could be your lucky day.

So you cal your trusted real estate professional on the phone and you have a zillion questions.  How much, how long and how many offers has this property had.  After all, the signs been outside for months.  It’s probably a dump inside. Right?  Wrong.

Turns out the property is a short sale in excellent condition with plenty of upgrades.  Problem is seller has to sell due to financial difficulties…………but the bank is not responding fast enough.  There are offers on the table, and more coming in daily, but no word from the bank.  You would think they would want to sell the place and get it off the books!

Wrong again.  They have their reasons for delaying.  The reasons are too great to mention here, but if you want a free consultation on a short sale property or any other that interests you, then call me.   I do weeknight and weekend appointments to suit your schedule.

Thanks for reading my blog.  I wish you success. Serena Russell, Realtor®

serenarussell.com

2011 will be the start of something big for real estate.  The year of the rabbit signifies a year of multiplication.   In many cultures the number 11 is a significant number for many reasons.  1+1=2 and 11×2 = 22 and so forth.

The stair stepping mode we’ve experienced in 2009 and 2010 will continue into 2011.  As we head toward an election year politicians will continue to  build  favor with the voters and with this strategy, the economy is headed toward a turn around.  The mist of the past is about to dissolve, and be replaced with  optimism and a new outlook.

What does all of this mean for home buyers, sellers, investors and the professional real estate arena?   Along with these positive economic trends, Americans will be able to put away greater wealth in 2011.  Many consumers have learned to curtail spending and to live more reasonably within their means. Credit companies have raised rates and decreased credit limits to stay in business.  Banks have learned how to move the inventory caused by foreclosures and short sale activity.  Rents are on the rise.  We are in recovery and  are headed back to a more normal pre-recession economic climate……………

SPENDING POWER:   Unemployment rates are lower now than a year ago and expected to keeping declining. This is good news for the economy. Consumers have achieved  greater spending power over the past 2 years, mainly due to fall prices.  Consumer confidence is rising, and this trend is expected to continue for 2011.

The downward spiral of the past is past.  Business has a healthier outlook for the year ahead, as consumer seek to get market share.

Take for example: Ford Motor Company, Read the rest of this entry »