Homescopes

The new generation of people that care about Walnut Creek is lead by a local teacher, Sol Henik.  His political career has just begun.  Sol has a Blog that deals with Walnut creek events that is worth making a favorite or add to your Google Reader.

http://www.walnutcreekreport.com/

It’s very inportant to homeowners and buisness owners in Walnut Creek to support the new generation of people that have a desire to keep Walnut Creek in the forefront of east bay area cities.

Inventory in Walnut Creek continues to stay at a respectable rate.  There are active listing in all prices ranges.  The real estate community in Walnut Creek sees a steady stream of buyers as well.  It’s a great time to buy a home!

Days on market is a good way to keep in touch with home sales.  Homes sales in Brentwood continue to fluctuate, but the overall signs are improving.

Walnut Creek home sales has always been the last to soften and the first to rebound when looking at the Contra Costa real estate trends.  There are amazing similarities to these graphs.

Brentwood continues to experience a lot of bank owned properties, but the trends are very promising. 

It’s a great time to buy residential real estate!

This week’s San Mateo County coastal market activity is picking up; however most offers being presented are not creating jubilant sellers.  Sellers want to sell their homes in this peak selling season and buyers are hoping to get a “bargain” while faced with the uncertainty and confusion about which way the market will shift in the next several months, notes CB-Half Moon Bay’s Office Broker/Manager Robert Ross.  Even when buyers find the right home or property, concern with overpaying is on their minds.  Similarly, sellers are concerned that they’ve set or reduced their list price too low.  Inventory levels show Half Moon Bay in a Buyer’s Market in Feb 2008 with 7 months of inventory.  January 2008 was at 8 months.  As of now…we’re trending toward a balanced market.

Buyers are working to mitigate their short and long term risks by choosing properties carefully and trying to understand the current financial environment, while at the same time remembering why they are home shopping in the first place - realization of long term benefits and lifestyle goals.

Many savvy buyers and agents are looking for sellers who are having real estate exhaustion.  Many books and articles are written advising buyers to seek out ”highly motivated” sellers. 

The idea is that when a seller gets exhausted from the process of selling (or their agent), he will accept any kind of low ball offer, even one that is far below the true value of property.  You want buyers to realize you are a motivated seller, that you are anxious to dispose of your property.  However, you don’t want them to realize you are highly motivated.  It’s a fine line, but the difference is important.  When things look its darkest, when you just want to wash your hands of the property, when you feel you can’t stand attempting to sell it for another instant, that’s the time to stand back and ask yourself this question: “Am I experiencing real estate sales exhaustion?”  just knowing it’s not necessarily your circumstances, but a psychological effect, can be quite helpful.

If you are experiencing this effect, then it’s time to do positive things, relative to real estate.  Besides sprucing up and improving the property, giving it more “curb appeal”, or even doing some neighborhood clean-up, which I recommend, you should summon your agent and ask what other options are out there for additional advertising.  “Niche marketing” is on the forefront and tip of the tongue of most savvy Realtor agents.  Know who and where your next buyer is coming from.  For example, does your neighborhood support a type of lifestyle with its surrounding amenities?  Cater to advertising to such people at these places (with permission).  

Another great and successful option is to be a different kind of seller by catering to the agents rather than the buyers, in short, before you sell to a buyer, you first have to sell to the agents.  A home offering more commission or a bonus to the agents does get the opportunity of more showings, especially when the market has down-turned.  If you are  opposed, try considering other options like promotional giveaway ideas, the more creative the idea, the better, and the more attention you’ll  receive.  Suggestions are but not limited to, offering to pay for gardening, pool, handyman services for a specific amount of time, offer to pay for Home Owner fees or pool/gym/spa membership fees if your neighborhood has these amenities available, offer to pay for a home warranty up to 10 years as a piece of mind to the new owners, or offer a gas card with six months worth of gasoline to the buyer or you could offer such a prize to the agent who brings in and successfully closes the sale, or offer to pay for utilities, taxes, or even mortgage payments for 6 months or more for the buyers.   Since buyers are concerned with the lifestyle change that owning and financing a home will bring on, hit them where it’s felt the most - in the wallet.  Offering these perks will surely get attention your way and shows buyers that you are not like every other typical seller.   

Another option if your feeling exhausted is to rent out a room or even the whole house to gain some profit to cover the mortgage.  Talk with property managers for they may have ways to convert tenants to buyers and, over a period of time, may actually be able to sell your home for you!

The real estate market is like the tides that roll in.  When a storm hits the rolling begins! keep your hands and feet int he boat and keep reminding yourself - this too shall pass.

Don’t ask me why these things come into my head.  Lately, when I think of the current big-picture real estate environment - one day it’s doom and gloom and the next it’s an incredible opportunity - I can’t help comparing it to Mavericks, Half Moon Bay’s celebrity waves.

Some highlights are:

1. They are both formidable.  Intimidating and overwhelming or tremendous and awesome?

2. They both demand respect.

3. Research before you jump into either one.

4. To get what you want you must move quickly.  Mavericks competitors have 24 hours notice.  Home buyers need to be ready emotionally and financially.  Many people want the same thing; if you’re not ready, it will go to someone who is.

5. More and more people are watching both of these unfolding phenomena.

6. If you’re new at EITHER one, don’t go in alone.

There’s more wave action going on in real estate.  It’s called the online real estate wave…the real estate bloggers* are the ones NOW paddling into the biggest industry waves and helping their clients grab hold and lead them into the future of real estate information, transparency, and opportunity.  What a ride!

*Blog networks I’m already involved in:

Homescopes

WCRblogs

 

These statistics continue to grow.  As of today in Brentwood there are 531 homes for sale, 167 of them are REO, Bank owned or 30%.  In Antioch there are 1187 homes for sale, 447 of them are REO or 37%.  And in Oakley there are 359 homes for sale and 115 of them are Bank owned or 32%.

This is recipe for aggressive buyers to get fantastic deal on homes.

I had the pleasure of meeting Kenneth Session today in his office in Oakland, California.  Kenny has created an incredible portfolio of REO, that’s “real estate owned by banks,” to those outside the real estate business.  His portfolio is in Alameda and Contra Costa Counties.

http://www.reuters.com/article/pressRelease/idUS16943+11-Jan-2008+BW20080111

The link above is an article that includes Kenny Sessions with Mayor Ron Dellums of Oakland, California.  It’s be coming very clear that a hand full of real estate brokers control this part of the market.  Stay tuned for more information about bank owned properties in Contra Costa County.

As many of you already know, the “Coastside” section of my site is broken down into lots of local topics of interest, including neighborhoods.  I just finished, well finished enough to get online for you, the Moss Beach neighborhoods page!  Expect updates and embellishments as I move forward with my site.

Back to Moss Beach…I thought a fun way to introduce this page would be to create an “family outing day” in Moss Beach, whether you live here or are passing through.

First you have to pack the beach bag - water, sunscreen, sunglasses, hat, sweater or jacket if needed for layering, day pack, snacks, camera, and towels & talc to wipe off sandy feet.  If you bring the dog, don’t forget the extra towels and water.  Water sandals will be handy.

A visit to the Fitzgerald Marine Reserve is a must for a day trip to Moss Beach.  Once at Fitzgerald Reserve parking lot, take a short hike down to the tidepools.  At low tide, which you want to check, you will be treated to all kinds of beautiful sea life.  The Friends of Fitzgerald Marine Reserve website will give you all the specifics you need to know to plan the best visit for your family or group.  After you’ve explored for a bit, you can set out your picnic lunch on the beach.  Then head over to the bluffs and walk through the cypress trees.  All ages will enjoy this, the younger ones will love to play hide ‘n seek and there’s plenty of room to run and explore. 

Head over to Moss Beach Park across the highway at Virginia St. on the east side if you have kids in tow.  If you know the history behind this terrific community asset, you will be even more impressed.  It sure didn’t look like this when I brought my kids there back in the early 90’s.  If you didn’t pack lunch, you could head over to local favorite El Gran Amigo to grab some of the best burritos around.

Of course, if Dad takes charge of the activities and wants to give mom a real treat, she can just walk over to Studio Eight-18 for a rejuvenating massage (but you have to call Scott first to get booked - although new to the Coastside, his calendar is beginning to fill).  Then on to a fun dinner at either HMB Brewing Co., Barbara’s Fish Trap (here’s some Yelp reviews), or Sam’s Chowder House in El Granada.  The dog will be welcome at these places if you eat on the patios.

Have a great day in Moss Beach!

p.s.  If real estate is on your mind, there are currently 12 homes for sale in Moss Beach ranging in list price from $569,900 to $2,500,000.

Moss Beach welcomes you.  Don’t forget to visit the Moss Beach page.

More and more these days, it seems I’m hearing good people say, “What are my options if I’m facing foreclosure?” In the last few years, so many people bought homes with either 100% financing or risky loans that have negative amortization and/or an interest-only payment for a couple of years which adjusts after the initial period. God [...]