Buyers out and about

I held an open house in Sunnyvale at a cute little property on Taylor Street. It wasn't my listing it was another agents listing. I did want to hold it open to get a feel for the market and also because it's such a darling place. If I was a young single gal it would be the type of place I would love to live in. Three bedrooms, one bathroom, large backyard - big enough for a dog. There was more to it but I don't want to go on. You can find it on the MLS listings service if you are interested or curious or go to Don's website http://donaldtanner.com/

I held it open because it was an easy place to talk about and easy to talk to visitors to the property. What I learnt was that there are loads of interested buyers out there looking. However, a common complaint I have is buyers don't take the time to go talk to a lender before looking. As a result they don't know really what dollar value they can go look at. For all I know the three of four people that expressed some interest in the property were actually not able to buy or might even be better off looking at something more than $650K.

If you are going to buy and are serious take time to talk to a lender and find out how much it is going to cost you to buy. What's it going to hurt you? It's not as though you are getting a shot in the arm. Find out if you even want to be in the market looking. Don't waste your gas driving around properties till you know how much you can afford.

My two cents - and I hope it makes SENSE!

Fifty living

I have a new listing coming up in the Sunnyvale area. What a great gem of a house, with wonderful large windows that make the place to bright and breezy.

One of my pet peaves when I came to the US was that a lot of the homes do not have living rooms with overhead lights. There must have been a time when having lamps was considered 'cool' or 'novel'. I find it dark and inconvenient. This home has large windows from the ground up. Not only does it give a light and breezy appearance it also saves you having to turn on your lights when you don't need to.

This little gem also has wonderful hardwood floors under the carpet. Currently only one room has the hardwood floor on show - so you know that the others are going to be gorgeous because they have been protected by carpet for years. Again another fad that came into being; cover the hardwood floors.

There is a definate "Eichler" feel about this little gem.

ahh the past ... the wonderful fifties and sixties ... don't you just love it.

Short Sale Waiting Game

Right now the biggest issues regular Sellers are facing is competing against the short sale price.

But let's think about this? Is it really a competition or an inconvenience to buy a short sale? Here are some facts about short sales that might change your mind.

Most of the short sales I visited this week looked like they had never had any work done to them, and for some reason there is a build up of 'trash' around the house from the outside. Forget about the inside. Why is this? I guess depression sets in and care flies out the window.

Short Sales now involve the mercy of the bank to negotiate with the intended buyer. You already seem to have a deal and the bank has already stated in a sense they are willing to take a loss. It's as if the bank should move on cut to the chase and do the deal. But the bureaucracy of banks (and any other institution) now involves 'departments'. As each department signs off and passes on their slip of paper to another minion the paper trail gets longer. The time in getting accepted takes .... forever.

I mentioned to another realtor, who works out of Sacramento, that it may take 5 to 8 weeks before you here something here in the Bay Area. Her response was here in Sac it's 5 to 8 months! Great, you get the picture of the future here in the Bay Area right?

So you think you've got yourself a bargain? Maybe but you've also got yourself a waiting game. Perhaps during this game you realize there are better deals and what's even more sweet at the moment is that the houses that don't involve short sales are priced according to the Short Sale - so look at those and skip the short sale and the hassle. Be a smart buyer not a smarta$$ buyer would be my tip. It's like the spaving theory. You buy more to save! Get 3 for 2 deal. Right now your short sale buys you paper work anguish, dealing with bank minions in India, and a house that has had no or little maintenance by it's previous owner due to the fact they had no extra cash to maintain it.

Save yourself the hassle and buy a regular listing in a currently low market. Go shopping and get a bargain but avoid a short sale - be a smart shopper.

California or bust

It amazes me the countless times I hear people say that California is the answer to their dreams.

I think the image that California has is that it is the answer to a lot of peoples dreams.

Well if you think of it that way it probably is. What young actor hasn't considered that Hollywood will be the start of their career. And what young engineer doesn't consider Silicon Valley the start of their dreams?

Do I love California...? Oh man, the weather here beats most places. The coast is to die for. But can most of us afford to live here? I doubt it but we still make it happen.

Christmas time of giving

As we gear up towards the end of the year do you stop and review?

Perhaps a good practice to take up is to do just that. Stop and review your year.

Your wins, your blessings, your gains.

Take time in this season to sit and review 2008. Season's Greetings.

Downtown investment opportunities

Downtown San Jose has so much going on that some of the older apartment complexes are such a great investment opportunity at the moment. Units close to the college ensure possible renters and many are close to the downtown action, appealing to younger people.

It's no secret that there are a number of short sales at the moment and CAR (California association of realtors) has even created a new form for agents to use specifically for short sales. In looking at what's available downtown San Jose you can find a number of good buys. You may not find that the rent covers your mortgage completely but it's a great opporutnity.

I have to say since coming to the Bay Area downtown has certainly changed considerably and definately a viable alternative to the BURBs of Silicon Valley.

I came to America too late

Lately I've had immigrants to America tell me that the reason they don't have an investment property is because they came here too late and they think they can't get into the market anymore.

Well I think there are always other opportunties out there it is just about educating yourself.

To know more email me: saskiaf@kw.com