As a Pleasanton Realtor and resident of Shadow Cliff homes in Pleasanton, I recently made the cable change from Comcast to ATT U-verse. I wanted to give my opinon on the service so that in the event others are thinking of changing, they have some feedback to consider.
ATT U-verse is new to my neighborhood and only one other resident in Shadow Cliff Homes had subscribed to the new service at the time I was approached by the door-to-door salesman. Of course I was apprehensive, but the package sounded really good. Even though there were more features, more channels and supposed higher speed internet I was concerned I’d turn out to be a disappointed.
I signed up for U-verse TV, Phone & Internet. I was scheduled for an all day installation. The installer showed up on time, spent most of the day at my home, and was efficient and friendly. Best of all, the service works perfectly! I am able to record on the main television and just like the commercial says, watch the recordings on any TV in the house. I’m very happy with the change!
“Buying a listing” occurs when a seller adamantly believes their property to be worth more than what the market comparables will support and the interviewing agent “agrees” to the price in order not to lose the listing. Is this in the best interest of the seller; absolutely not!
What can happen with an overpriced listing?
- The seller begins chasing the market
- This positions the seller “behind the 8-ball”
- The listing becomes “stale” on the market
- Buyers won’t offer on these properties as they believe the seller is difficult, or they feel the may offend the seller.
- The agent can earn a bad reputation in the industry
- The seller usually ends up mad at the agent and after the listing period decides on a more professional approach
- Time and money are wasted
Seller beware…when interviewing agents to sell your home, be weary of agents that would rather tell you what you want to hear price-wise than trust in their own knowledge of the market. If your chosen agent can’t negotiate with you, they can’t negotiate for you. Choose a professional with market knowledge!
With the news released yesterday about the new 90-day moratorium, home sellers are given another chance to get their home sold (in the event they choose not to modify).
In the last several months, banks have been very lax about dealing in a productive way with short sale properties. With the second moratorium in the last 6 months, this may just be what banks need to realize they must deal with distressed home owners. While some home owners may wish to modify their current loans, this will give others who wish to sell the ability to do so.To successfully sell a short sale in this market, a home seller must find a real estate professional experienced in dealing with banks in these situation. In my personal experience, the banks DO NOT like 3rd party negotiators. Sellers beware when it comes to hiring a company that asks for money upfront. This process can efficiently be handled with the right real estate professional.
As a Pleasanton Realtor® an important part of my job is to team with the top professionals in the business regarding lending, home insurance, home inspectors, etc. Today I sat with one of my key team members to understand what’s going on in the mortgage market. Kurt Kessler, owner of Pleasanton Mortgage explain a bit about Mortgage backed securities to me.
”Mortgage backs or (MBS) have taken a roller coaster ride the last week and a half; as they go down, rates go up. This negative movement seems unprecedented and beyond the word ‘volatile’. Trying to advise clients as to whether to lock or float has been very difficult. Large downward movements have been followed by small corrections and then another large downward move” Kurt explained to me.
He further went on to say that “Bill Gross, the President of Pimco said earlier this week that the appetite for bonds and MBS is dwindling and we should see higher and higher rates. With China and other foreign countries not buying our treasuries and our government really becoming the only buyer of our own home grown debt, which creates more debt, it seems his outlook is very accurate”.
Kurt believes the treasury and the Fed have backed off from their position of targeting an interest rate. He said, “Last year and then Secretary Paulson stated that the treasury would target an interest rate of 4.5%. After 2.5 months and much government intervention, they were able to achieve that. Now it doesn’t seem that is their goal, so free market is now in play and more government interaction will lead to more fear of inflation”. In the opinion of Kurt Kessler, rates will go from 5.5% to high 6%’s and low 7%’s (depending on loan type, size and credit score) in the next quarter.
He also believes, the demand of money is also increasing due to the affordability of properties and that is truly the light at the end of the tunnel. “The 2 things that we know will hold true,” Kurt told me, “is the first-time homebuyers will do very well in this market and secondly, FHA and VA loans will continue to be the product of choice”.
If you’ve been on the fence about interest rates, would like to get pre-qualified or would like to ask some of your own questions, I welcome you to contact Kurt directly. The path to home ownership is still very attainable.
Pleasanton Residential Real Estate - Come Get Informed!
Residential Real Estate in Pleasanton is the topic of the upcoming Town Hall Meeting to be held Wednesday, May 27 from 7:00 - 9:00. A Panel of experts will provide insight as to the state of the market. This event will be held at the Veterans Hall in Pleasanton and is hosted by The City of Pleasanton, Pleasanton Chamber of Commerce, Pleasanton Weekly and the Bay East Association of REALTORS®. The event is open to the public at no cost to attend.
The following evening, Thursday May 28, Kurt Kessler of Pleasanton Mortgage and Rhonda Fee of Realty World Town & Country are holding a FREE Home Buyer Seminar at 6:30 PM at The Rose Hotel in Pleasanton
The seminar is designed to answer many of your questions including:
- The difference between REO, Bank Owned and Short Sale Properties.
- The new role the FHA plays in both the mortgage and real estate markets.
- Seller concessions…What are they, how can they help YOU buy a home?
- Pre-approval vs. Pre-qualified…What’s the difference?
- Credit Scores and How to Improve them!
- Understanding the Stimulus Plan’s $8,000 Tax Credit for qualifying income (ends Dec. 1, 2009)
- Why we have “artificially” low interest rates and what might be next?
- The home/loan buying process and strategies
There is NO COST to attend, but space is limited. To make your reservation, please contact Rhonda Fee at 925.200.0827 or email rhonda. mailto:rhonda@rhondafee.com.
What’s Important When Selling Your Home
Pleasanton homes are very desired. As a homeowner, when thinking of selling in any area, there are a few very important things to keep in mind. Choosing the Realtor is one of the most important aspects of the transaction. If you don’t have a referral from a trusted source, there are a few things to keep in mind.
- It would be wise to interview at least 3 realtors. Ask lots questions and ask for past client contact information. Take the time to make a couple of calls to their past clients. You’ll probably learn all you need to know by having a short conversation.
- Secondly, Google the name of the agent. See what you might come up with. Good or bad, it’s useful information!
- What kind of marketing are you being promised? Get samples!
- What kind of internet exposure will you receive? This is SO important in today’s selling market. Will YOUR property be listed on at least 30 + of the most commonly used real estate portals? This is a must have!
- Does the agent provide a virtual tour?
- Does the agent provide a web commercial for YOUR specific property?
Once you’ve made the decision on the Realtor, the pricing is of the utmost importance. Your trusted professional will be able to provide you with comparables to help you understand the pricing strategy. Starting high and chasing the market down doesn’t work, so don’t let your agent overprice your home! That is the number one way to fail at selling.
These are just a few things to keep in mind when searching for the right professional to sell your home.
Pleasanton Homebuyer Seminar is Scheduled for Thursday, May 28, 2009 at 6:30 P.M at the Rose Hotel in Pleasanton!
In order to better understand the current real estate market, Kurt Kessler of Pleasanton Mortgageand I are offering a FREE Homebuyer’s Seminar. This will help you learn:
- The difference between REO, Bank Owned and Foreclosed properties,
- How to get the most current, updated list of foreclosed properties,
- What about Short Sales? Might that be a viable option or should you stay away,
- The new role FHA plays in the Mortgage and Real Estate Markets,
- How NEW loan limits have created buying opportunities,
- Seller concessions…What are they? How can they help?
- The difference between Pre-Approval and Pre-Qualifications,
- Understanding the $8,000 Stimulus Package credit.
To sign up, click here for your reservation. Space is limited as the Rose Hotel room we use only holds about 12 people. This is very useful information and is an absolutely NO pressure seminar. You’ll gain great insight as to how to benefit from this market.
As of 4-25-09, there are 11 properties listed for sale as bank owned (foreclosed) properties.
- 7 of these properties are single family, detached homes ranging in price from $424,500 up to $1,398,800.
- 4 of these properties are bank owned townhomes for sale in Pleasanton as well ranging from $319,900 to $524,900.
- 2 foreclosed properties went pending in the month of March and 2 foreclosed properties closed escrow in the Month of March.
Pleasanton consists of nearly 69,000 residents. This family friendly community has everything that makes living in Pleasanton an exceptional experience. Pleasanton offers the Stoneridge Mall, Alameda County Fairgrounds, beautiful sports fields and more. The Pleasanton Unified School District has been named a National District of Character and 12 out of our 14 schools have received the California Distinguished School designation. Together, the City and School District are committed to building a Community of Character.
Pleasanton’s downtown is the heart of the city. The Farmer’s Market takes place every Saturday during the year on W. Angela Street. The downtown is the perfect setting for parades, festivals, weekly summer concerts in the park and other special events.
If you’re looking for a place to call home, or even looking to purchase an investment property, Pleasanton is one place you should definately consider!
Foreclosure Moratorium…What It Could Mean to You! It is expected that more than 80,000 foreclosed homes will be hitting our markets soon. No one knows exactly when…
In January as an effort to stimulate the housing market, a moratorium was placed on foreclosures by the Obama Administration. As of April 2009, the moratorium has ended. What does this mean to you? It depends on your personal situation.
For Some It Could Mean:
- Opportunities to buy your first home, second home or investment properties at “artificially” low interest rates.
- $8,000 Government rebate on your taxes if you are a first-time homebuyer with qualifying income and purchase prior to 12.31.09.
For Others It Could Mean:
- Making your last efforts to modify your current home loan.
How You Might Get Help:
- If you are in default and you currently have a Countrywide Home loan, they have just released a product that might help you refinance your property. It requires NO income documentation as long as you are employed!
- If you are looking to buy homes at these low rates, for investment, primary residence or second home, you can receive up-to-the-minute reports on every bank owned property in the areas & price range of your choice.
