Cliff's Notes…on Real Estate

Foreclosures are down by over 2% for the month of June. This could be a good sign if it continues.

With these new developments now may be a great time to get off the fence and buy your new home.

Once the banks see stabilization in the housing market you are going to see upward movement on interest rates.

Last week interest rates went up .25%. That may not seem like a lot but over a 30 year period it is a lot!

If you want to know; how to find bargain properties at rock bottom prices click this link.

If you already own a home and want to know; 7 ways to increase your homes value for under $100.00 click this link.

If you are facing a foreclosure and want to know; the 5 fastest ways to stop foreclosure in 48 hours or less click this link.

Enjoy the weekend and the heat. What a wonderful summer day.

Tags: banking, buy a home, Buyers Tips, Foreclosure, homes for sale, Real Estate Market Trends, Redwood City, san mateo county, US economy

Has it been 6 months since you started looking for your new home?

Why have you not purchased your home yet? Are you a Lookie Lou?

Interest rates are at an all time low!
The selection of affordable homes to choose from is substancial!
This “buyer’s market” where sellers, give many concessions to buyers, is not going to stay around forever!

If you have been looking for six months, or longer, for your home and you haven’t purchased a home you should fire your real estate agent, fire your lender and fire yourself from the home buying process. You really don’t want to have the American Dream of homeownership. The perfect storm for home buying is right now.

Either stop kidding yourself that you want to buy a home or call me today and together let’s find that special home you have been seeking. You can call be right now by clicking the “Call Me” button on the left.

I am currently seeing a shift in the market towards a “seller’s market“. Interest rate have gone up .25% in the past week…that’s a lot however, still very much affordable! The government has started a program to infuse money into banks to help buyers buy their home. Sellers are starting to price their homes where multiple buyers want the same certain homes again. This points to something is a brewing out in the real estate world like multiple offers on the same home buy several buyers.

If you are looking in Redwood City I have a couple of new homes coming on the market within the next 30 days or so. Contact me and I may be able to get you into them before they hit the open market. Here is a link to a home in San Mateo under $650,000.

Stop being a Lookie Lou, you are wasting your time and efforts on something that will only bring you disappointment and despair.

Tags: buy a home, buyers, Buyers Tips, fyi, home for sale, Lookie Lou, perfect storm, Real Estate, Real Estate Market Trends, san mateo county

House passes bill to extend tax credit deadline

The U.S. House of Representatives passed a stand-alone bill yesterday extending the closing deadline for the federal home buyer tax credit to Sept. 30, 2010. Backers of the House measure said the 90-day extension would permit tens of thousands of home buyers whose paperwork didn’t clear by June 30 to still receive the credit. Estimates from NAR show as many as 17,700 home buyers in California may not receive the tax credit if the deadline is not extended. The bill now must pass the Senate.

If you have not already enter into an escrow on your home before April 30, 2010 you still will not be allowed you to use this federal home buyer tax credit. I hope you were able to take advantage of this opportunity. This really helps home buyers who purchased a REO or Short Sale home purchase and the banks didn’t have approval to the home buyers by the April deadline date.

Tags: buyer, credit, escrow, extended, federal home buyer tax credit, home, House, savings, Senate, tax

Redwood City, CA, So what! What does that mean to me? What the hay how can these interest rates benefit me?

Well let’s take a lovely townhouse in Burlingame just 1.5 from Burlingame Avenueat 119 Primrose Road unit #6. Without going into all the great things about this home what is the money figures on this home, if I invest in it?

119 Primrose Road in Burlingame is currently listed for sale for $619,950. Average rents in Burlingame for 2 bedrooms, 2.5 bathrooms is currently at $2600/month

As a non-owner occupied property the bank will require you to put a down
payment of 30% or $185,985. With current 30 year, fixed rate interest rates being at a historical low 4.375% your monthly principal and interest amount will be $2,166.72! If you add
Property Taxes, HOA dues, and Inside insurance it brings your monthly payment up to $3136. This give a differential of <$536.00>.

However, your depreciation would be approximately $1,315/month plus you get to write off the property taxes just like you do on your own personal resident. So at years end you may be in the positive.

Additional positive aspects would be appreciation and increase in rents over the long haul.

This might just be a good investment you might want to give serious consideration. It could be the
way to pay for your children/grandchildren’s college education in future years.

Obviously, interest rates are not going to stay at these low levels for a long length of time. Act today before this opportunity get away from you. Do it now.

Tags: Burlingame CA, investment, investment property, monthly costs of home ownership, non owner occupied, redwood city ca homes, rental

Burlingame, CA, On June 27th I will be bringing a 2 bedrooms, 2.5 bathrooms, English Cottage style, townhouse on the market for sale. This lovely home is a desirable end unit and has updated; painting, flooring, kitchen, bathrooms, and slate entry way.

It is going to be staged and ready to sell immediately. The seller is very motivated because she is getting married and needs to move to her new home with her husband in San Francisco. This is NOT an R.E.O., Short Sale, or Distressed home for sale.

All the amenities of Burlingame are close at hand with this lovely home. A wonderful Public Park is two blocks away. World famous Burlingame Avenue is only 1.5 blocks away with all of its boutique shops and restaurants. A new shopping complex with a Safeway grocery store and a Walgreen pharmacy is only one half a block away. Want to walk to Burlingame’s Public Library? Just walk 3 blocks, and across the street from the library is Burlingame City Hall.

To top it off you will be deeded two parking spaces in the underground parking garage for the whole 6 unit complex. And best of all the pricing on this home will be affordable! It will fall within FHA guidelines for financing making it the prime option for a first time buyer.

If you would like to have me send you the time and place of this home please email your request to cliff@SFBayHomes.com. Do today and take advantage of this once in a lifetime offer. You will be glad you did.

Tags: affordable, burlingame, buy a home, CA, first time buyer, good value, opportunity, townhouse