Archive for May, 2009Home of the Day: Renting for the low, low price of $6,500-a-monthAddress: 512 Primrose Rd. #101 Burlingame, CA 94010 List Date: 2/23/2009 Current List Price (rent): $6,500 Original List Price (rent): $6,500 Interesting Tidbits: * The unit is also listed for $2,100,000 * Individually selected bathroom vanities * Unit can come furnished for a total monthly payment of $7,500 The front looks classy A bathroom fit [...] America: Home of the (Debt) FreeThis post first appeared on Minyanville. Freedom is back in vogue: Americans are finally growing tired of living in the shackles of debt. According to the Wall Street Journal, government-led efforts to jumpstart lending are being derailed by weak demand for new loans. As the recession rolls on, an increasing percentage of consumers are opting [...] Cirios Top Ten at Ten – 5/14/09The Top Ten Stories YOU Need to Read This Morning 10. When you don’t sell cars, your dealership is not going to stay in business. 9. Looks like the biggest winner of the housing boom may not be out of the woods just yet. 8. It just might be time to start that business in [...] Home of the Day: Time to go Green in Menlo Park?Address: 2001 Sharon Rd. Menlo Park, CA 94025 (from MLS) List Date: 4/16/09 Current List Price: $2,335,000 Original List Price: $2,335,000 Interesting Tidbits: * All new construction (completed in 2009) * Green Point Rating: 104 * Impressive fixtures throughout the home * Living Space: 2,306 sq ft, Lot Size: 5,248 sq ft. Front of the [...] Government Reduces Risk – But Also RewardBy ANDREW JEFFERY This post first appeared on Minyanville. In its ongoing attempt to rewrite the rules of what’s quickly becoming our quasi-capitalist nation, the Obama Administration is weighing options that would expand compensation restrictions to all corners of the financial-services industry. According to the New York Times, well-publicized efforts to rein in executive pay [...] Cirios Top Ten at Ten – 5/13/09The Top Ten Stories YOU Need to Read This Morning 10. Retails sales are down while unemployment is at or near record highs. 9. Mortgage applications are down as everyone who could refinance probably already has. 8. Since unemployment is up it makes sense that foreclosures are too. 7. Oil keeps going up … nothing [...] Home of the Day: the “New” 2 bedroom / 1 bathroomAddress: 675 Cole #3 San Francisco, CA 94117 (from MLS) List Date: 2/18/09 List Price: $479,000 Original List Price: $499,000 Interesting Tidbits: * Completely remodeled with numerous upgrades * Two independent parking spaces * Very desirable location near Golden Gate Park * However, how exactly does the person in the second bedroom get to the [...] Does Your Real Estate Agent Have What it Takes?Below is an actual job posting from a brokerage whose stated goal is to “to provide Bay Area home buyers a unique and comprehensive resource for your home purchase process.” The question you have to ask yourself is this: Is the person who meets these qualifications really who you want advising you on one of [...] Cirios Top Ten at Ten – 5/12/09The Top Ten Stories YOU Need to Read This Morning 10. Home prices fall most on record … the following people are surprised: “___________” 9. Federal Reserve chairman likes the stress tests because he has to. 8. It is probably not a good sign that GM executives are selling their shares. 7. The jobless news [...] Mortgage Rates Still Not Allowed to Return to NormalBy ANDREW JEFFERY This post first appeared on Minyanville. Despite Herculean efforts, the Federal Reserve is losing its battle to keep mortgage rates at all-time lows. As fear that we’re headed for imminent collapse slowly wanes, investors’ appetite for risk is coming back. This renewed confidence has helped buoy stocks, and the major equity indices [...] Cirios Top Ten at Ten – 5/11/09The Top Ten Stories YOU Need to Read This Morning 10. Now the banks don’t need the money? – make up your mind! 9. The company we all own sold their headquarters in Japan for $1.2 billion. Do we get a dividend? 8. Maybe we should all be looking outside the U.S. for money making [...] Keepin’ It Real Estate: Subprime Lending Is Back With a VengeanceBy ANDREW JEFFERY This post first appeared on Minyanville. Just when you thought it was safe to go back in the water… Subprime lending has come roaring back. But this time, reckless financial innovation isn’t being hatched on Wall Street. Instead, state governments are angling to “monetize” first-time homebuyer tax credits so borrowers can purchase [...] Cirios Top Ten at Ten – 5/8/09The Top Ten Stories YOU Need to Read This Morning 10. Only 539,000 people lost their jobs in April…. and Wall Street rejoices! 9. Wait a second, reverse mortgages aren’t profitable either? Dang. 8. Commodities remain on discount, according to many experts. 7. More good news following yesterday’s revelation that banks only need $74 billion. [...] Cirios Top Ten at Ten – 5/7/09The Top Ten Stories YOU Need to Read This Morning 10. South Carolina has decided to stop foreclosures…. and a recovery. 9. Menlo Park, CA is going to save people from foreclosure. In other news, only 4 other cities in the state can afford to do the same thing. 8. Bernanke actually thinks the stress [...] Cirios Top Ten at Ten – 5/6/09The Top Ten Stories YOU Need to Read This Morning 10. B of A needs money … stock is up. 9. Mortgage applications are up so the bottom must be here right? right? 8. Wells Fargo needs money … stock is up. 7. Wait a second, prime is the new subprime? … didn’t see that [...] Housing Perspective: March Pending Home SalesThe National Association of Realtors, or NAR, released its Pending Home Sales Index today, which showed continued strength in broad housing market data. The report, which measures signed contracts — often viewed as a leading indicator for future sales — came in at 84.6, up from 82.0 last month and the 83.7 reading in March [...] House of the Month: The Town the FHA Saved – Brentwood, CA.No, we’re not talking about the upper class neighborhood in Santa Monica. We are talking about a city 52 miles northeast of San Francisco, a farming town that epitomized the housing boom and bust. Of late, sales activity has leapt in Brentwood, almost exclusively due to the prevalence of the FHA loan program. (NOTE: in [...] Doing Your Real Estate Homework: RealtyTracWe have all heard the old saying “Don’t judge a book by its cover.” This also applies to real estate. Just like a house that looks great from the outside could be a money pit, don’t assume that just because a neighborhood isn’t littered with For Sale signs, foreclosure activity is low. RealtyTrac.com is one [...] The State of the Markets – 5/1/2009Optimism is riding high in the financial markets, even as the world tries to get a collective grasp on what a widespread pandemic could mean for, among other things, the world economy. That the stock market can rally, and real estate “experts” can loudly avow that the worst is behind us against this backdrop is [...] Zip Code Spotlight: 94618 – Oakland, CAEach month we examine a single zip code, identifying micro-trends within the area to try and figure out how close (or far) that market could be from a bottom. This month, we focus our zip code spotlight on 94618, an area on the Oakland-Berkeley border that centers on the Rockridge neighborhood of Oakland. This area [...] By The Numbers: Sale Price vs. List PriceIn today’s real estate market, there is often an enormous difference between the listing price for a property and what it eventually sells for. When looking to buy a home, it is very important to keep this fact in mind. Examining sale price versus list price (SP/LP) ratios can help you compare one area to [...] |