The Second Story

High and dry!

2012-01-26T20:31:00.000-08:00

Blog photo: or...low tide!! This is the cat(amaran) near the Crown Harbor houses, on the bike path. The house faces on Central and this the boat behind it. Taken the same time as last weeks photo...the image I called Peace...Full. What a day for the camera about 4:30pm.

Blog post: My client Kevin, was so kind to email me a link to the county assessor office today. I'll put it in this email but also tack it on the side bar to the right as a future reference for you. I think the Alameda Co. Assessor's department has a great website! Whether you like or don't like what they do, they have an excellent site and are on their game.

One of the things that Kevin noticed was this year you need to itemize your property taxes. Many who live where Mello Roos districts are imposed deduct the Mello Roos tax. I've been telling folks for years that may not be possible, but many have decided to do it any way. Well, that game is over now.

Take a look at the list and the exceptions, and see how your taxes might change, in terms of what you can deduct! It appears that the Measure A school assessment of .32 cents per square foot based on the county record, is not going to be deductible. Aw, shucks! Well, lets hope the schools do what's right for the kids.

By the way....at the open houses I've had, people are MOVING to Alameda from nearby areas simply because we have put in the money for our schools. AND they are moving down from the hills! I met two separate families, from Montclair, one with kids and a 'young' couple with kids out of the nest, who are coming down here in the flats. They are tired of driving everywhere, want to walk to town or along the beach, and know their neighbors. Both said that they felt 'alone' up there, and rarely saw the folks next door.

I'm telling you...we are all about the town here. And everybody has their say!

ALAMEDA REAL ESTATE TODAY...
305 Court has an accepted offer as of last night.

Quick Glimpses
-Fed says rates to stay low through late 2014 (SJMercury News)
-Places for homebuilders...where they are digging in! WSJ

Unsold inventory this week 122, 123 last report
Pending inventory this week 88, 84 last report

Tuesday Broker Tour 9 houses on the market, 1 was a repeat. All main island, easy on the bike!

Highest and Lowest Prices this week

NEW 12
REPOSITIONED PROPERTIES 9
BOM (back on market) 1
PENDING 15
SOLD 9
EXPIRED 3
WITHDRAWN 1

ALAMEDA REAL ESTATE AWARDS THIS WEEK....remember this is only my perspective!
Get me to rehab....

THAT'S A WRAP FOR NOW! CALL ME IF YOU NEED MORE INFO, OR SEND AN EMAIL! CARRY ON! MAKE IT WORK!

BEST, MARILYN

Peace....full.

2012-01-19T22:35:00.000-08:00

Blog photo: This was taken a week or so before Christmas, just last month. I took my camera with me but didn't expect much as I rode my bike. And then - there it was. These are remainders of piers at Alameda Point, just to the south of where the USS Hornet is, along the bike path that leads up to the ships. It was perfectly still and the water expanded the reflection of the posts. Awesome.

Blog post: Why do you want to get inspections before you put a property on the market? I mean, it only costs money especially if the buyers are going to be getting them!

Well, allow me to tell you. First, Sellers need to know what they are selling. If they don't understand what they want the Buyer to buy....then they (the Sellers) will get surprised. Second, often they will show some items that the Sellers didn't know were damaged or broken. And those items may be big or small but they might have an impact on a list price! And third, they give an idea about how much the Buyers want to pay for the house.

Buyers will get their own inspections when they get in to the property. They have a predetermined time to get them done in order to find out what's really going on there. This is very important because they can find out what was similar between the reports....or different!

Get inspections. And better yet...get them when you are happy in the property....about 3-5 years apart, before you ever think about selling. You'll be saving yourselves $$ and having more fun in the house!

(If you need names of inspection companies, give me a call. I have some definite thoughts about the subject!)

ALAMEDA REAL ESTATE TODAY....
1219 Regent went pending the end of last week. It is ACTIVE/CONTINGENT. That means the Buyers have a certain number of days to get their house sold (contingent on the sale of their house).

Quick Glimpes
-How do you get the best interest rates? NYTimes
-Fed is going to tell you how long short term interest rates are. SFGate
-Reverse morgtage revival WSJ

Unsold inventory this week 123, 135 last report
Pending inventory this week 84, 84 last report

Highest and Lowest Price Listings this week

Tuesday Broker Tour A bike ride down and up the island, way out on Bay Farm and up to BayPort, near Main Street for a total (only) of 5 properties.

NEW 8
REPOSITIONED PROPERTIES (price changes) 9
BOM (back on the market) 2
PENDING 15
SOLD 6
WITHDRAWN TEMPORARILY 1
WITHDRAWN/ CANCELED 3

THAT'S A WRAP! CARRY ON! COME SEE ME AT 1708 THIRD ON SUNDAY 2-4!

BEST, MARILYN

Timber!

2012-01-12T22:28:00.000-08:00

Blog photo: This one is for me! This is the tree next door, photo taken by my neighbor. He said "Your car must be doing the pine-needle happy dance!" The trunk and very top branches are still up, but most of the lower branches are down. They need to get the electrical people (guys said it was PGE) to come over and put some type of lines on the wires. Still, look at the size of the workers...and imagine the size, all the way up!

Blog post: Okay, what's the deal with no pictures in the MLS? At least three properties have no photos, not a one! And one of them has a picture of a back yard only. That's my rant. On to the better things.

ALAMEDA REAL ESTATE THIS WEEK....
Quick Glimpses:
-Fed (as in the Fed bank) up with the depressed state of housing. WSJ This article is great, not only because the Fed is a non-government entity, it is stepping in on what to do. There was a white paper done by them for Congress. If you read this, you'll want to read what the readers say about this. It is very good - on all sides.
-State targets the Mello Roos property tax owners. Orange County Register
Do you deduct the the Mello Roos fees out at the Community of Harbor Bay Isle (Village 5 - that's the last one to get built out there). They shouldn't be deducted and the state wants those buyers to know it, and itemize their deductions.

Unsold inventory this week 135, 166 last report
Pending inventory this week 84, 100 last report

Highest and Lowest priced listing
I'm trying not to use expired listings that come right back on as 'new'.

Tuesday Broker Tour 8 listings....what a great bike ride out to Bay Farm and back to the main island!

NEW 10
REPOSITIONED PROPERTIES (PRICE CHANGES) 9
BOM (BACK ON MARKET) 0
PENDING 14 (8 of these are short sales)
SOLD 5
WITHDRAWN 2
EXPIRED 2

THAT'S A WRAP! CARRY ON! MAKE IT WORK! COME SEE ME AT 1219 REGENT THIS SUNDAY 2-4pm!

BEST, MARILYN

Sunset!

2012-01-05T23:20:00.000-08:00

On January 2, 2012

Blog photo: I knew I had to get out on my bike. What looked so strange just got better and better. A streak of clouds across the open sky and I just started shooting photos on my my little Cannon camera.

Blog post: A new year! I hope it is off to a good start for you. Whether you are selling or buying, I hope this blog helps you to figure out what you want to do, and when! If you need some help...give me a call!

UNSOLD INVENTORY 125

PENDING INVENTORY 76

This goes back to Nov 25, and I've put together the stats as best as I can find them. Remember - I go into hibernation and rejuvenation from the blog at that time, and now I'm back!

ACTIVE 41

NEW 8

REPOSITIONED PROPERTIES 9

BACK ON MARKET

PENDING 37

SOLDS 63

EXPIRED 23

CANCELED 11

WITHDRAWN 4

THAT'S A WRAP! KEEP THE MOMENTUM INTO THE NEW YEAR! CARRY ON!

MARILYN

Color blast!

2011-11-24T20:59:00.000-08:00

Blog photo: This tree, along Otis Drive just before the Bay Farm Bridge is in the parking lot of the Raven's Cove condos. It was so brilliant I had to backtrack (not backup) to get to it and take the picture. I don't recall seeing so much autumn color in Alameda in a long time. We get some of the east coast pleasure of fall, none of its weather!

Blog post: It's Thanksgiving night and I hope you've had a lovely day. True to the holiday season, inventory is shrinking a bit...some listings expiring, some being withdrawn.

I find myself reminding agents who are showing property to not bother after 4pm. It's dusk then and just too hard to really see a property properly. Buyers will need to go back again if there is interest at all OR miss some nice qualities that could end up being of some interest to them.

Buyers looking at this time of year , along with Sellers staying on the market are usually pretty serious. The upside to the Sellers is there is not quite so much competition. The downside is there are not as many showings. If there were few showings to begin with, and if a price hasn't changed to re-inspire Buyers the number of showings may still be low. The upside to Buyers is Sellers may be fairly motivated.

When it comes to decorating a house for the season I tell Sellers to forget it. They are selling a house and people need to see the house...not all the small trinkets that bring fond memories, not the monster big tree taking up half the room. Maybe put some seasonal color and/or plants in the front yard or entry, and a door wreath.   Be sure that the walkways and front and back yards are swept of leaves! It's most important to keep the house in the best light (inside and outside) possible.

This time of year I find myself working closely with clients who are going to sell. They need to get their inspections done so we can start master-planning their sale. It can mean small and large repairs, getting bug treatments, clearing out, clearing out, and clearing out.   And did I say, clearing out? Sometimes it means taking a tour of other properties on the market to see not just how they look but how the market has responded to them.

I often wonder how long it would take me to ready this old beast if I wanted to get it on the market. And then I do the repairs I previously chose to ignore. I may have said it many times before but one of the super side-benefits of helping folks get serious about what it takes to sell, is coming back to my house and throwing things out, recycling them, or giving them away. Mostly I have to admit some things are just not worth anything to anybody.

ALAMEDA REAL ESTATE THIS WEEK....
Quick glimpses:
-Inheriting a home with a loan...NYTimes This is a super article.   What are your options if the property you inherit is worth less than the loan?
-The 1% are turning to auctions to sell their high priced properties WSJ Another excellent article.

Unsold inventory this week 166, 183 last report.

Pending inventory this week 100, 103 last report.

Highest and Lowest Priced NEW Listings this week.

Tuesday Broker Tour only 1 listing on the tour, a BFI townhome. Still, it made for a decent bike ride! Tuesday before Thanksgiving is very quiet.

NEW 4
BOM (back on market) 0
REPOSITIONED PROPERTIES (price changes) 6
PENDING 9
SOLD 10
EXPIRED 4
WITHDRAWN TEMPORARILY 3
WITHDRAWN CANCELED 2

THAT'S A WRAP!

PER TRADITION THE SECOND STORY GOES INTO HIBERNATION AND REJUVENATION FOR THE MONTH OF DECEMBER! I RARELY MISS A WEEK AND I DON'T THINK I MISSED ONE THIS YEAR. IT'S NICE TO NOT HAVE TO THINK ABOUT WHAT I'LL BE WRITING ABOUT AND WHAT PHOTO I'LL USE FOR A WHOLE MONTH!

I'LL PICK IT UP THE FIRST THURSDAY OF JANUARY AND GIVE A FULL SUMMARY OF DECEMBER!

HAPPY HOLIDAYS AND A HAPPY NEW YEAR! IF YOU HAVE REAL ESTATE QUESTIONS GIVE A CALL OR SEND AN EMAIL. I'M STILL WORKING!

BEST, MARILYN

Whenever I see an adult on a bicycle, I have hope for the human race. ~ H.G. Wells

2011-11-17T20:55:00.000-08:00

Blog post and photos: I love these photos! They remind me of everything that is good in the world. If you

look closely, the Changing Gears Bike Shop sign is made from bike tires. If you look closely at the Welcome to the Bike Shop sign, you'll see it's made of bike chains.

I got a new bike last January. The old was was 30 years young, according to my daughter. It joined a Peugeot bike that had been hanging from the rafters in the carriage house for probably 15 years. They needed to be put into service once again.

Last Friday, in spontaneous fashion, I drove them over to the non-profit bike shop at Alameda Point. I'd heard of it, but hadn't been to it, even with all the riding I do around there. The place just made me smile.

These youngsters (well, they are younger than me by lots of years) are doing terrific work in an old military building. You can donate a bike. You can volunteer to work there. You can use their shop and they'll advise you on how to repair your own bike for $5 an hour. You can buy a used bike. You can earn a bike by volunteering (200 youth and adults did just that last year). You can have your bike fully serviced by them for reasonable prices. And they employ formerly homeless individuals, and train them to repair, sell, and run the shop.

They were thrilled with what I gave them (including the brand new seat from my new bike, since I liked my old one better). They made me feel like I made their day! Quite the contrary, they made mine.

Check them out. Changing Gears

ALAMEDA REAL ESTATE THIS WEEK...
Let's make this all about my clients.
305 Court St.   She's changed her price this week, the house has been on the market for over a year now, and we've followed the market downward. Now it's $488,888 and it started at 600K. In an attempt to accept some responsibility for this, I have said I wasn't strong enough with the pricing to begin with, and that's not my norm. UGH. So, if you know somebody who is in the market for a wonderfully located 4 bedrooms, 2.5 baths duet home, with an attached 2 car garage, NO HOA fees, close to the shoreline, closer to Krusi Park, tell them about it or have them call me! Check out the website   305Court.com

1708 Third Street
This gentleman owned this Woodstock co-op unit with his dad. It's two levels, 3 bedroom, 1 bath, immaculate, with a nice yard. $240K . You buy a piece of stock when you own here. Check out the website for purchasing stock co-op homes. 1708-3rd.com He's motivated and had it listed with another company before he called me.   He started at 305K and when he listed it with me it went to 255K. If you know somebody....you know the drill! I'll be there Sunday 2-4pm! Come by, say hi!

1219 Regent
A lovely Victorian, lovingly maintained over the decades by the owners, with a good roof, newer foundation, updated electrical, nice yard, and pleasant walk to Park Street. 3 bedrooms, 2 baths, and a big person-cave basement! On the market for a few weeks. 675K The website has some good photos! 1219Regent.com

Recap of a phone call I got last night....The heir of a local condo, who lives in the southern US, had been referred to me and we met last summer. I told her the 1/1 condo, if she cleaned it up might go for 189K. She called to see how the market was, having done nothing with the place since the meeting. She said she'd heard 1/1 condos were selling for 150K. True? Yes. I gave her some facts over the phone. She has an interested party who wants to buy it privately. I told her to take the money and RUN quickly! I couldn't have been any stronger over the phone without yelling! I think she got the message.

Quick Glimpses
-Congress DID restore the higher loan limits for government backed loans TODAY! I got a text from the National Association of Realtors this afternoon.   This article was written before the passage but it's good.
-Online home valuations If you've read my for-client-only email blasts for the 10 years before I started this blog 3.5 years ago, you know I've not been fond of online property valuations. They don't consider condition, local market conditions, demand, location, and all the important things buyers want to know about. Real estate is a person and personal biz, and it demands consumers hook up with those who know the 'hood you want. Agents running over hill and dale only make a human being version of the online value game.   Agents need to see the inventory to know the inventory.
-Curious about the appraisal game?

Unsold inventory this week 183, 185 last report
Pending inventory this week 103, 103 last report

Highest and Lowest Priced NEW Listings this week.

Broker tour this week 5 on the tour...had to go by car because of errands off the island! boo-hoo!

NEW 10
REPOSITIONED PROPERTIES (price changes) 10
PENDING 14
SOLD 13 no the first photo is not you....it's very blurry (a pet peeve of mine!)
EXPIRED 4 well, there are 4 expired but I've tried twice and only 3 get picked up. sorry.
WITHDRAWN TEMPORARILY 1

ALAMEDA REAL ESTATE AWARDS THIS WEEK...remember this is only my perspective!
Bang for the Buck This is a stock co-op listing. Shows well, maybe the park nearby is a downer...but a nifty place.

THAT'S A WRAP! CARRY ON! STAY DRY! MAKE IT WORK! ENJOY YOUR THANKSGIVING!

BEST, MARILYN

Smoke and mirrors

2011-11-10T23:56:00.000-08:00

Blog photo: This is one end of the living room at my listing at 1557 Santa Clara Avenue. If you like charm...this place has it. It also had three buyers who were willing to purchase the charm along with the various repairs. It's pending and hopefully will have happy new owners in a few weeks! It's so hard to find this type of detail anywhere these days so when any house in Alameda comes along that has it, big or small, well-located or not, pristine or fixer....it gets attention.

Blog post: First, let me preface my comments by saying I don't like cigarette smoke. I don't want to be around it. I do like private property rights and proper notification procedures.

That being said, the city council is ramming through an A1 rated (by the American Cancer Society) city ordinance that almost banishes smoke in all public and private places, inside and outside. Fine. All well and good.

Here is the ordinance as it appears before last Tuesday's meeting, and the city website has not yet been updated yet with the changes.

Then, AFTER all the public comments, none of which even came close to suggesting condos be included, the council added 'condos' to the list of smoking-restricted areas. They didn't define what a condo is. By their conversation it seems they mean most any residential building that has a common wall or ceiling or floor. That actually means, condos, townhomes, and duets.

Once again, the city council, has not done three things.

1. The City Council has not even come close to considering the unintended consequences of their actions and wording. But they are happy to shove this through and figure it out later. Haven't they had enough do-overs in the past year?

2. The City Council has not created a way to enforce their new law. The Chief of Police stood in front of them and said the police were not going to be the smoking police. He said they rate their calls from 1-4. He said this type of call was an 8.

I move that we have the city council members be the ones who get the midnight calls and they can go out and take the complaints and figure out what to do with them. Do I hear a second to that motion?

3. And perhaps most important, the City Council has not identified or notified the stakeholders (those affected by the proposed law). Who are stakeholders? Maybe you, maybe your homeowner association, all property managers, the owners of the affected single family residences, all the affected businesses (not just the local biz associations), the Alameda Association of Realtors, golfers (they may have something to say about it), and any who will have to be the enforcers.

The City Council just passed a Sunshine Ordinance (get out of dark back rooms and shed some light on all things they touch). But I guess they didn't get the message about their own actions - again.

How will this affect your ability to buy or sell a property? Hard to know. Better to know before the law passes, not after.

I watched last Tuesday's city council meeting on TV and was texting with a friend/co-worker about what the city council was doing. We were appalled. As another colleague on a city committee commented the next day at a meeting "This is government run amok!"

Folks, if you think the way the City Council acts is inexcusable, whether it's about smoking or not, you might want to consider sending each council member, the City Manager, Assistant City Manager, and whoever else you think is appropriate, emails AND drop letters to them at the City Clerk's office, 3rd floor of City Hall.

They need to establish tight, notification procedures BEFORE they make bigger messes than they already have on their hands. This needs to be done in the next week! If you don't tell them, sooner or later they are going to do something that will affect you...and you won't even know it until after the fact.

ALAMEDA REAL ESTATE THIS WEEK...
Quick Glimpses:
There are so many good articles in one of my trade blasts I'm sharing the whole thing this week.
Beyond the Headlines Check it out. It should have at least one article of interest for any reader.

Unsold inventory this week 185, 188 last report
Pending inventory this week 103, 100 last report

Highest and Lowest Priced NEW Listings this week.

Broker Tour this week 11. Great bike ride day!

NEW 14
BOM (back on market) 2
REPOSITIONED PROPERTIES (price changes) 13
PENDING 16
SOLD 10
EXPIRED 2
WITHDRAWN TEMPORARILY 3
WITHDRAWN/CANCELLED 2

ALAMEDA REAL ESTATE AWARDS...remember this is only my perspective!
Get Me a Facelift (this is also the highest priced listing - used as a vacation rental, and it's expected it will be a short sale).

THAT'S A WRAP! CARRY ON! FLY A FLAG FOR THE WEEKEND! IT'S ALL ABOUT OUR VETERANS!

BEST, MARILYN

Time for a high tide sidewalk bike ride?

2011-11-03T23:25:00.000-07:00

Blog photo: If you time it right (most any time but either side of a high tide), you can take a quick walk right at water's edge at Crown Beach. The brief crossing can be slimy and slick, when the tide is out. Last Tuesday evening was not the time for me to ride my bike through, or attempt to take it over the water. It can be a bit tricky when it's slip'ry. Kind of cool.

Blog post: It's part of being in the real estate biz...these drive me nuts!
- No photos of the property in the MLS (multiple listing service).
-Out of focus photos of the property.
-Photos with the artistic 'slant' - they make the house look like it just got lifted by the Hayward Fault, and the viewer feels seasick!
-Listing agents who need to make an appointment for me to see a property but who won't return a call so it can get shown. hhmmm...maybe the agent doesn't like me. Naw...really?
-Hidden lock boxes. We get to play find the lock box and hope a key is in it so we can get in!
-Buyer's agents who make an appointment and then don't show. Tough on clients with kids and who work at home..
-Sellers who stay at the property while I show it to clients. Give us space and a chance to talk. Take a walk!
-I'd love it if all listings, dumps or beauties, had floor plans somewhere online. Consumers would really love it!
-Horribly misleading photos and/or narrative in the MLS - "This Blue Mountain Beauty surely won't last through the weekend." I thought Blue Mountain Beauty was a new architectural style. Not so much. It's the company name. And apparently that beauty has lasted beyond the weekend. It also tells me not to let somebody else buy my dream home. But it is a winner....Get Me to Rehab (see below).
-Agents who somehow think I put blue tape over a lock by mistake, just so they can remove the tape and lock the door behind them. Seriously. Last week it happened. AARRGH!

Okay, I feel better now.

ALAMEDA REAL ESTATE THIS WEEK....
Last Saturday I needed to catch up on inventory. It was a glorious day so I biked to 10 houses, all around town, in just two hours! Parking is a breeze...bike to door, and I get to see so many folks I know! It never ceases to amaze me how lucky I am!

My client's property at 1557 Santa Clara received multiple offers and is now pending!

Quick Glimpses:
Getting a grip on closing cost 'deals' NYTimes
Making the banks pay... Yahoo News
Another 'Low rates and why you aren't getting them' article WSJ MoneyWatch

Unsold inventory this week 188, 184 last report
Pending inventory this week 100, 103 last report

Highest and Lowest Priced NEW Listings this week (two low ones: one of them has a lower price than when it was on the market before.

Broker tour this week.. 6 with 1 repeat... the highest price is a 10 unit building (came on the market last week).

NEW 13
BOM (back on market) 3
REPOSITIONED PROPERTIES (price changes) 13
PENDING 15
SOLD 12
EXPIRED 4
WITHDRAWN/CANCELED 4

ALAMEDA REAL ESTATE AWARDS THIS WEEK...(remember this is only my perspective!)
Get Me to Rehab

THAT'S A WRAP! CARRY ON! ENJOY WINTER AND STAY WARM!

BEST, MARILYN

The power of AC.

2011-10-27T23:04:00.000-07:00

Blog photo: This is autumn to me. Instead of falling leaves we have empty chairs. I took this photo along the Newport Beach ocean front 'board' walk while on a bike ride with a friend, between Balboa Island and the Santa Ana River Jetty. I usually go to or beyond the Huntington Beach pier but this was leisurely and full of chat. In summer when I was down for a high school reunion, the same sidewalk was people-packed and a zoo.   With a backyard of beach, plenty of parking, and room to breathe, I like to say the natives have reclaimed their land. And these gorgeous Adirondack chairs beg for the owners to come out with a beverage, book, and bonnet, to rest their behinds, waiting for the sunset show, surely to come.

This past year has been fairly full of trips to Newport due to our dad's aging issues. It was a treat when it was possible to get some alone outdoor time down there. Since his passing a few weeks ago, there will be some other new normal.

Blog post: I thought it might be helpful to explain an entry in the status of listings (below) this week that we don't see too often. AC is not alternate current. In real estate it means 'active, contingent'. And that means the listing is still available BUT there is a sale CONTINGENT on the sale of the Buyers' property.

Well, you might think, how can it be available for others if somebody has it tied up in a contract? Good question. I'm glad you asked it. Chances are the property may have been on the market for a while. The Seller may be willing to take an offer that is contingent on the Buyer closing their current home. BUT!

Some consideration most likely would be given to just what the status of the Buyer's property really is. Has it had offers? Is it in a contract now? Have the Buyers of the 'down-leg' property removed any of their contingencies? Who's the lender? How's that financing coming along? Are all the players on the same page? Are they cooperating together?

Depending on all those and more circumstances, the Buyers typically have been given a set number of days to remove the sale contingency. If unable to do so (their own Buyer can't perform, or needs more time, or drops out), then when that time limit hits, the Buyers either remove the sale contingency or back out. Of course, the Buyers could ask for an extension of time in order to make progress on the sale of their existing home. And if the Sellers don't have any other parties in a back up position to slide into contract, that might be a possibility.

Upside...it can be a win/win. Downside...it can tie up the upleg Sellers' house and some other viable Buyers may walk on by. Showings are always fewer with an AC status.

I know I wrote about this once before but we had an amazing set of AC homes all tied into the same transaction. You need to remember, the Buyer at the bottom of the pole has the most power....unless you were my sellers/buyers... in the middle of the group. My clients didn't want to pay for a new foundation on their place and we were at a standstill. Then everybody did the math and figured out how to chip in some $ and I think we matched what my Sellers needed to pay in the form of a credit or hold-back.

Here's how it went down: Sellers in the Community of Harbor Bay Isle wanted to move out of the area, across the bay. My clients wanted to buy that house on Coleport Landing but had to sell their east end Victorian on Lincoln. The people who wanted Lincoln had to sell the house right behind Lincoln on Johnson. Johnson had a buyer who lived on I think, Fountain. And Fountain had a buyer with nothing to sell. It was all done with Harbor Bay Realty agents, all done at the same title company, Placer Title, and all recorded the same morning. All done.

Of course there were some rent-backs by owners of their own houses since not everybody could move right away. That was all part of the negotiation process for the gang. And I've not been aware of a similar scenario since then.

Bottom line...we may be seeing more of this type of transaction along the road. Hopefully you'll be involved with an agent or agents who have been there before.

ALAMEDA REAL ESTATE THIS WEEK...
Another busy week. Had a new listing on the Broker Tour...but I actually put 1557 Santa Clara on the market last Thursday. I'll be there Sun 2-4 for an open house. Offers, if any to me by Tues noon. I'm still catching up on houses I haven't seen so hope to do quite a few of them tomorrow and Sat by bike!

Quick Glimpses
Selling? Think on These Things   Wash Post
Condos get hammered by FHA rules and redtape LA Times
Underwater w/ a FNMA or Freddie Mac loan? you may be able to get a new lower loan rate.   CNN Money
My squawk at our office meeting this week was...just how many people are going to want to keep financing an upside down house for how long? What's the new normal? You know the new normal.

Unsold inventory this week 184, 190
Pending inventory this week 103, 104

Highest and Lowest Priced NEW Listings this week.

Broker Tour this week... 11 with 1 repeat.

NEW 8
AC (active contingent) 1
BOM (back on market) 2
REPOSITIONED PROPERTIES (price changes) 12
PENDING 16
SOLD 16
EXPIRED 1
WITHDRAWN 2

ALAMEDA REAL ESTATE AWARDS THIS WEEK...
Winner, Cute/Charming
Get me to Rehab - this one needs work but the comment in the mls says it 'needs deferred maintenance.' I guess the goal is to buy it and beat it up some more!

THAT'S A WRAP! CARRY ON! MAKE IT WORK! COME BY 1557 SANTA CLARA SUNDAY 2-4PM AND SEE WHAT CHARMING REALLY IS...AND SEE WHAT KIND OF WORK IT NEEDS BEHIND THE CHARM!

BEST! MARILYN

Shakin' it up!

2011-10-21T01:01:00.000-07:00

Blog photo: A simple but elegant stained glass window at 1219 Regent, a new listing I put on the mls this week. The home was built in 1892 according to the penultimate guide, Documentation of Victorian and Post Victorian Residential and Commercial Buildings, City of Alameda, 1854-1904, written by George C. Gunn.

Blog post: Maybe you felt the earthquakes this afternoon and tonight? It's been fun to see what folks have posted on FaceBook about their reactions. It's only fun because there hasn't been any serious damage or injuries.

Just yesterday I finally was able to take delivery of the earthquake prep/supplies box I ordered several weeks ago. I've been looking for the perfect box for months. I wrote about one of my attempts to assemble a box on my
'for fun' blog...using various body parts to keep pieces together, to no avail.

After that frustrating experience I kept on the hunt for a box that would meet my expectations. One day while dusting raccoon and feral cat repellent around the boat and dock at Alameda Marina I realized those storage boxes in front of many boats might be just the ticket.

Then a discount coupon showed up from West Marine. I think it came via daughter Sutter in New Zealand. Anyway, since saving money is a motivator, I decided to drop by the marine store at the intersection of Pacifc/Buena Vista/Constitution Way. Sure enough...what I saw in the catalog seemed promising. It's called a Dock Box.

It will go in the backyard corner, not subject to getting buried by debris, and quite accessible. Next assignment...get the water, big packages of handi-wipes, C-rations, tools, bucket, lights (flash and headlamp), and anything else that should go in it. Between that and the propane tanks I've got for the barbeque, we should be able to get by for a few days....and share with others. Best of all, it's light weight, and no assembly required!

ALAMEDA REAL ESTATE THIS WEEK
Quick Glimpses
4% mortgage? Good luck getting that....CNN Money
Where's the inventory? WSJ
Youngin's considering owning vs renting WSJ

The listing at 1708 Third Street, a 3/1 stock co-op unit, is now 240K, down from 255K. Motivated! A very nice property! And if a buyer has the 20% down....at these interest rates....this is cheaper than renting!

I put two new listings on the market this week. Check out 1219 Regent a Victorian 3/2 with lots of super pluses for 675K. Come on by and say hi on Sunday 2-4pm. The other is 1557 Santa Clara, a 2/1 charming bungalow for 365K needing a roof, some foundation work, a furnace, and some updating in the kitchen.

Unsold inventory this week 190, 182 last report
Pending inventory this week, 104, 107 last report

Highest and Lowest Priced NEW Listings this week

Broker Tour this week. 9 I'm still catching up on seeing some of these since I hosted Regent open on Tues.

NEW 17
BOM (back on market) 5
REPOSITIONED PROPERTIES (price changes) 8
PENDING 15
SOLD 12
EXPIRED 2
WITHDRAWN/CANCELED 1

ALAMEDA REAL ESTATE AWARDS THIS WEEK...remember this is only my perspective!
Cute, charming gotta go to my listing at 1557 Santa Clara
Bank for the Buck
gotta go to my listing at 1219 Regent...attic converted to master suite, basement huge 1000sf, nice yard...
Get me to Rehab this Victorian needs everything...for the price of 865K...we'll see how that goes!

THAT'S A WRAP! CARRY ON! MAKE IT WORK! HAVE A GREAT WEEKEND!

BEST, MARILYN

Critical mess (or ignorance is not bliss).

2011-10-14T00:08:00.000-07:00

Blog photo: Even the rich guys get bugs....probably in their computers and often in their properties. I saw this recently in Newport Beach. This shot is taken from Balboa Island. The circus did not come to town. The pest control people tented what appeared to be all the buildings on a parcel. I've not seen anything like this before. A couple of days after I saw it the buildings were unveiled. This activity typically means bug activity is being exterminated.

Blog post: A colleague emailed this week and suggested I make a blog post about test holes in stucco. She had driven by a house on Thompson and the stucco was being removed, revealing the framing had rotted so much in some places that daylight could be seen where it shouldn't. This is often caused by water seeping into exterior walls due to improper drainage from the roof (often flat or a nearly flat roof).

Keeping with the blog title....I suggest that clients get pest and property inspections every 4-5 years. Why? We get used to the little problems and ignore them. We work around them. But underneath those small problems may be bigger issues.

It's easier to find solutions when the problem hasn't grown to huge proportions. It's easier to plan and pay for fixes and repairs when we aren't up against a wall that's falling down. It's easier to resolve the problem when it's not yet become a critical mess (mass!).

ALAMEDA REAL ESTATE THIS WEEK...
Quick Glimpses
Refinancing....a way to figure out if it's worth doing it. WSJ
Maximizing your appraisal odds WSJ

Unsold inventory this week 182, 172 last report
Pending inventory this week 107, 116 last report

Highest and Lowest Priced NEW Listings this week

Broker tour this week 5 on tour.

NEW 14
BACK ON MARKET 5
REPOSITIONED PROPERTIES (price changes) 17
PENDING 9
SOLD 11
WITHDRAWN/CANCELLED 6
MARKET REJECTED PROPERTIES (expired)

ALAMEDA REAL ESTATE AWARDS THIS WEEK....none this week!

THAT'S A WRAP! MAKE IT WORK! CARRY ON! HAVE A GREAT WEEKEND!

BEST, MARILYN

I love Alameda autumn, rain or shine.

2011-10-06T22:50:00.000-07:00

Blog photo: Pumpkins...but some of them look like they've come up from the deep sea complete with barnacles on them. Others are clearly land-lovers but with warts, zits, and wrinkles. These were among hundreds for sale at Roger's Gardens in Newport Beach in mid September. They are a far cry from the 'perfect pumpkins' I was taught to cherish and far more interesting....just like people!

Blog post: Even with early and earnest rain this week it was a joy to get on my bike during the bright bursts of sunshine....well, at least during the lighter shades of gray.

After checking out the 94502 and east end listings by car due to some required auto errands, I got on the bike to see the rest from mid-island towards the west. Not too many on the tour but just too hard to resist putting on that stupid looking net vest that makes me look like a crossing guard. And I hate the helmet too. But I wear it.

In between showers this week, I've pedaled to the nail place (not Paganos) for a mani/pedi, over to Panera for a loaf of bread, to Park Street to meet up with my accountant, to Trader Joes, to Bank of Alameda, to the post office, to the listings I have east end to west.

It is simply amazing to me to live in such a place that so naturally promotes walking, running, riding, skateboarding, roller blade-ing (sp?), board and kite surfing, sandcastle building, even wheel-chairing along the path on Shoreline. It's just so great!

The leaves are turning and dropping...our mild Pacific-rimmed version of fall. The shadows are longer, earlier. But the light...the natural light is so gorgeous to me. I don't understand why but the lower sun in the sky just seems to zap it's way through the atmosphere with more vibrancy. I guess I don't need to know why. It's simply beautiful to me.

ALAMEDA REAL ESTATE THIS WEEK....

Quick Glimpes:
Refinancing
-Take the bait and they'll reel you in. What's the catch? Smart Money
-Appraisers and valuations....it's a mess MercuryNews
Next week I believe I am going to rant about the appraisal industry once again. Stay tuned.

Check out the boatload of pending sales this week - 23!

-Unsold inventory this week 172, 176 last report
-Pending inventory this week 116, 111 last report
(I forgot to include this last week!)

Broker Tour 7 with 1 repeat.
Highest and Lowest priced NEW listings this week.

NEW 12
BACK ON MARKET 2
REPOSITIONED 13 (price changes)
PENDING 23
SOLD 8 looks like at least one of these solds were on the list last week....
EXPIRED 5
WITHDRAWN/CANCELED

ALAMEDA REAL ESTATE AWARDS THIS WEEK...remember this is only my perspective!
Bang for the buck
Get me a facelift
Get me to rehab

ALRIGHTY! THAT'S A WRAP! ENJOY THE RETURN OF SUMMER. MAYBE CHECK OUT THE BLUE ANGELS BUZZING THE CITY FRONT AND BAY FOR FLEET WEEK!

BEST, MARILYN

Oh puhlease!

2011-09-29T22:53:00.000-07:00

Blog photo: This is one cool side window in the rebuilt tower of a massive and ancient home, that my friend has been restoring for several years. Alan's dedication to this property is unmatched and remarkable. I was honored to be invited over when he celebrated the completion of the tower project!

Blog post: I've said it before and I'll say it again...there is a market out there for real estate. We all know how down and off the prices are from the highs but there is a boatload of cash out there and the holders of it are stepping up and buying unique properties and/or opportunities if they have enough for a down payment, or plenty of it to avoid the bank completely.

A duty of being one of two Designated Brokers who our Broker of Record calls on when he's not available, is to tend to multiple offer situations in which the HBR listing agent is also representing the buyer plus there are other offers on the table. The office policy is to remove the agent from any negotiations and put one of the Designated Brokers in place to keep a fair playing field so other agents know their offer isn't being shopped by the listing agent who could then have an unfair advantage. I pulled the short stick on Monday.

Six agents said they'd be writing offers. Four offers showed up. Two were tossed. Two were countered. And those two wanted the property - a lot. Of the four offers two were really well written and prepared, one was a joke, and the other not done well but had the $ behind it.

Here's what I'd like to have buyers and agents do that might make a difference in their offers:

First, Buyer(s) write a brief note. Not the agent. Don't produce an autobiography, but do state who you are and why you like the property. It can't hurt! This is emotional for the seller, too, and those emotions can be touched.

Second, have a rock solid pre-approval letter if you are getting financing. "Kinda, maybe, well we told the loan officer what we have in our bank accounts and told him/her what our credit scores are" doesn't work. Ya got no credibility if your income, assets, employment, and accounts have been not been verified by the lender.

Third, if there are going to be multiple offers, one has to assume they will be close to and/or over list price. Be as aggressive as you can stand to be with your pricing. But realize most folks are writing offers to be at the top of the pile.

What I witnessed the past 3 days of this process was the low-ball agent whining because his client didn't get a counter offer. That guy wrote for 10% down (dude, see the link below in Quick Glimpses about loan limits changing), saying that he knew that financing didn't exist for this place with that down payment, but maybe buyer's mom would cough up the other 10%. He had no lender letter at all. Oh puhlease.

Here was the tough one though. Very qualified buyers wrote a very good offer with their agent. BUT they were getting 100% financing via VA benefits. Unfortunately VA approved lenders don't do the verifications until there's an accepted offer...so in a competitive situation against preapproved buyers and all cash buyers....well, that's a tough row to hoe.

When I was told by the agent, once the drama was over, that her buyers wanted to know how they could compete, I had to say that jumping into the pool with other buyers bidding on a brand new listing with more conventional financing or all cash - that's a big wall in the middle of the pool to jump over. An option would be to find the overpriced house that they like AND that the market has rejected, and write on it. The sellers may be thrilled to work with them. That process need not be wful...it can be great and work for all.

(Full disclosure on my part...I have a policy of NOT writing offers on my own listings. I feel it's a conflict of interest.)

ALAMEDA REAL ESTATE THIS WEEK....
My listing at 1808 Main, a stock co-op 1/1 unit didn't get the buyer approved by the board. So if the Seller decides to renew the listing it's back on the market OR if not, it's expired. Bummer for all.

My listing at 305 Court has a price change as of today. The most recent of many....now 499K. Motivated but not lots of room at this price! Share it with friends who don't want to pay HOA fees, like the duet style, want a good location, and 4 bedrooms with 2.5 baths!

Quick Glimpes:
New loan limits...pay attention LA Times
Bi-polar market SJ Mercury News
Some cities up, some down in values WA Post

Broker tour - only 7 this week...a warm day for the bike ride!

Highest and Lowest Priced NEW listings this week.

NEW 11
BOM (back on market) 0
REPOSITIONED PROPERTIES (price changes) 10
PENDING 11
SOLD 10 (I have no idea why 1001 Shoreline is wedging it's way into this)
WITHDRAWN/CANCELED 3
EXPIRED 1

ALAMEDA REAL ESTATE AWARDS THIS WEEK...remember this is only my perspective!
Winner, Bang for the Buck, Cute/charming, Out of Rehab

SMILE....IT MAY HELP SOMEONE GO FROM GRIM TO GRIN!

BEST, MARILYN

I have a beet to pick with my mom....

2011-09-22T21:13:00.000-07:00

Blog photo and post: These all got picked two days ago. The tomatoes went crazy compared to what even local experts said was a terrible tomato year last year. The basil was so fragrant.

I'm such a believer now...and after this second summer of a few more container veggies, I've just planted some for fall....more lettuces and beets. Iris Watson at Thompsen's Garden Center (1113 Lincoln Ave.) assures me I'll love sauteing the beet leaves.

And speaking of beets...I had my first stare-off with fresh beets this summer when they were included in a Farm Fresh to You delivery. Ut-oh. What to do with those? I avoided them as long as I could and then peeled and sliced them and threw them into salads. WHO KNEW? They were fabulous.

And to think...I thought all beets tasted like that canned crud my mom would put on the plate. Same with peas. Oh Mom, bless your heart....with four squirelly kids I'm pretty sure I'd make the words 'convenience' and 'canned' synonymous, too.

On to the apples waiting to be picked, the ones the real squirrels haven't gotten to yet. I had one last evening while working on the new dirt mixture for the new plants....wonderful!

ALAMEDA REAL ESTATE THIS WEEK...
Quick Glimpses
I've been saying 8 years....this article says 5

Lots of sold, pending, and new listings this week. Check out the links below.

Fabulous bike ride in some heat for the Broker Tour - 16 on the tour.

Highest and Lowest Priced NEW Listings this week.

Warning! The Fountain property is BOM but somehow is showing up in all categories. Like a fly, I can't get rid of it! I've tried 4 times!
NEW 16
BOM (back on market) 3
REPOSITIONED PROPERTIES (price changes) 13
PENDING 16
SOLD 12
EXPIRED 3
WITHDRAWN/CANCELED 2
WITHDRAWN TEMPORARILY 1

ALAMEDA REAL ESTATE AWARDS THIS WEEK....remember this is only my perspective!

Winners of the Week! We have a 3 way tie. I just loved each of these properties.

That's a wrap. Carry on! Make it work! AND A HUGE THANK YOU FOR ALL THE REFERRALS SO MANY ARE SENDING MY WAY. I APPRECIATE THE TRUST AND CONFIDENCE YOU HAVE AND AM WORKING HARD TO BE REALLY CLEAR ABOUT WHAT THIS MARKET IS ABOUT! And as usual, the folks I get to meet with are the same wonderful quality as the ones who share my name. I am blessed.

best, m

Beneath the layers....

2011-09-15T23:28:00.000-07:00

Blog photo and post: Another of Alameda's hidden murals was revealed several weeks ago when some exterior siding was removed from the liquor store at the southwest corner of Haight Ave. (at Webster). And if you get close enough, you'll see there is yet another mural peeking out from under this root beer special!

Real estate, certainly in an old town like Alameda (yes, I know we are a city but we feel and think like a town) is just like this mural.

We've got loads of layers: layers of generations of families; layers of paint on the old but ever-being-refreshed Victorian properties; layers of toxics underneath parts at the former Alameda Naval Air Station; layers of sweet goodness at Tucker's Super Creamed Ice Cream, and super sweet community programs like Alameda Meals on Wheels (NO government funding whatsoever, citizen and business supported only).

It seems like the real estate, from below the earth's surface to the tip of a triple decker ice cream cone, is just like family. Sometimes families are toxic. Sometimes families hide behind painted faces and masked facades, and more often than not....families are super sweet and super supportive. That's why I call Alameda a town. We like to show our colors, what we are made of and just what we think. And we try to take care of our own. Just add a 't' to own....and you've got town.

ALAMEDA REAL ESTATE THIS WEEK....
I fess up....I took a couple of golf days this week in Carson City, NV with a bunch of Alamedans and some Arizonans (?) that meet up there annually for the Isle City Golf Tournament. Great fun. Nice people. Challenging and super fun/frustrating golf courses.

But I did see some properties today in an effort to catch up. And I do work while I'm away....so I don't feel too guilty.

Quick Glimpses
What you already know...getting financing is rough. USA Today Money
Investing in houses? Watch for these common mistakes WSJ

Unsold inventory this week 176, 165 last report.
Pending inventory this week 109, 111 last report.

Broker tour this week 10.

Highest and Lowest Priced NEW Listings

NEW 18
BOM (back on market) 2
REPOSITIONED PROPERTIES (price changes) 14
PENDING 11
SOLD 8
EXPIRED 1
WITHDRAWN TEMPORARILY 1
WITHDRAWN/CANCELED 4

ALAMEDA REAL ESTATE AWARDS THIS WEEK....remember this is only my perspective!
Cute/charming terrific light, wonderful classic windows.

That's a wrap! Make it work! Carry on! Enjoy the weekend....will we get an Indian Summer? I hope so! Fall is almost here!

best, marilyn

Pizza carpet, lettuce carpet

2011-09-08T23:37:00.000-07:00

Blog photo: This was a remnant of carpet put down about 40 years ago in one of our vintage, old 'get-me-to-rehab' homes. I saw this on tour a few weeks ago and asked if I could take a picture! Permission was granted.

Some of you know the phrase 'pizza carpet.' That's the mottled brown and orange shag stuff that if you dropped a pizza on it you wouldn't be able to find it. I wish I could say that was original to me but it's not. Got it from a long time Alameda broker, a long time ago.

This green equivalent of pizza carpet I have named lettuce carpet. It looks a bit like varieties of the green stuff tossed and spread out, and for all I know there may be dressing in it. The more appropriate name probably should be 'let us remove it.'

Blog post: One of the lovely side benefits of filing the pile of months of paper, is finding stuff already in the folders that may be of interest now. And that happened for me last week. I've kept in print format copies of many newsletters I've prepped and sent over the decades. And some of my editorial bits still ring true today. So here's an updated version from a newsletter dated fall of 2007.

Sellers often have separation problems. Separating their stuff from the house they are leaving. If Buyers wanted your stuff they'd ask for it or buy it. Mostly THEY DON'T WANT YOUR STUFF!

There's lots of ways to get rid of stuff these days: Alameda Freecyle, CraigsList, e-Bay, a one night stand (really, maybe a night stand!) on the curb for a drive by scavenger.

I had clients who had a wonderful Fernside home. They forgot to empty a hall closet. They asked if could grab the jackets, coats, hat and gloves, and ship them. My pleasure. No problem. Got it done.

But in the depths of that narrow closet I found a shot gun AND the ammunition for it! I called the owner and he had not seen the gun for years and didn't remember it was even there. He had already put his others on the moving truck. But I couldn't ship that! What to do?

I took it to the police department but I was told I'd have to wait 2-3 hours for the officers to come in from important calls. I gave up and stuck the thing back in my car trunk along with the bullets.

I went back to the property to meet up with my hauler who was getting rid of the HUGE pile of stuff I'd made the night before when I'd gone in to check out the house. WHOA....loads of stuff left behind: wood debris, garage debris, a vacuum, a waffle iron, old pots and pans, food in the refrig, canned goods in the cupboard, old shelf paper, old cleaning materials, old doggie beds, on and on. I took pictures (not the phone kind) in case there were questions!

When I came back from the police department the Buyers were off-loading their boxes. Together we went through and found more items graciously left behind but that they didn't want. And the gun? Well, I showed it to my hauler. He said it was broken but would look good on his wall, permission granted from the owner.

First impressions are critical for selling. Last impressions, just before the close of escrow, are also important. Sellers end up paying to get rid of the stuff in almost all cases. And it will cost the Sellers as much if not more to have the pro get rid of it, especially if time is critical. Keep the separation anxiety for the drive away moments and memories at the property that is no longer yours!

ALAMEDA REAL ESTATE THIS WEEK....

I'm going to keep this short. It's been a long and rather amazing four days. I went to Dana Point for a two day class, framed by seeing my dad and step mom. Things had turned bad for Dad the previous 9 days. Yesterday about two hours after my last visit with him, and after family members from New Zealand, Florida, and San Diego had expressed their gratitude, love, and goodbyes, via the cell phone I held next to his ear, he passed on quietly, comfortably, without drama. Suffice it to say...well, that's just it. Suffice it to say.

Unsold inventory this week 165, 178 last report
Pending inventory this week 111, 118 last report

Broker Tour this week 6 with 2 or 3 repeats

Highest and Lowest Price NEW Listings this week

NEW 6
BOM (back on market) 3
REPOSITIONED PROPERTIES (price changes) 11
PENDING 8
SOLD 8
EXPIRED 2
WITHDRAWN/CANCELED 5

ALAMEDA REAL ESTATE AWARDS THIS WEEK....none awarded.

That's a wrap! Carry on! Make it work! Enjoy your weekend!

best, marilyn

CO in CA

2011-09-01T23:53:00.000-07:00

Bosco the Pig update
This turned out to be a great story that got picked up off The Second Story by Alameda Patch. First story was run on yesterday and the happy ending I just saw!

Blog photo: August 2011 sunset at Grand Street bridge looking west. A nearly perfect reflection.

Blog post: As I descended something didn't seem quite right. I felt like I wanted to just drift. But that's not the smart way to fly a plane. I knew it - but it was hard to get a grip on my thinking.

I'd been flying one of the tow planes, hauling gliders into the wild blue yonder on a busy day at Sky Sailing Airport in Fremont, CA. I was fortunate to be able to jump between motor-powered and non-powered aircraft throughout the day, depending on my teaching schedule.

Once the sailplane released the towline it was 'get the tow plane down and get the next glider up.' In order to avoid having the engine cool too quickly we made descents at high power settings (not to be confused with high speeds) so we wouldn't crack the hot cylinder heads due to quick cooling temperature changes.

As I circled in a spiral, first in one direction and then another, losing altitude as planned, all systems were go for a landing. When it all worked just right, the approach to land was perfectly timed with the appropriate airspeed and power setting coming together, resulting in either in a full stall landing or a wheel landing, depending on the pilot's preference.

We had to kind of drop the plane in, instead of dragging it in so the loose end of the tow rope would get a bit of a whip upward, thus clearing the fence. Wrapping that line around the fence and pulling it up behind the plane into the staging area was not what any pilot wanted to be known for.

This time, as I lined the plane up for the final approach I just couldn't figure out what was wrong...oh well, maybe it didn't matter. I struggled to keep things together and made the landing. I'm not sure how good it was but as they say "any landing you walk away from is a good one." But we were pretty good pilots and excellence was the standard on any day. I just didn't care.

I taxied to the tie down area and popped open the flapped doors. Nearly falling out of the plane I suddenly felt like a huge bucket of ice water had been thrown on me. I started to wake up.

Almost immediately I knew what had happened. I had just experienced Carbon Monoxide poisoning and I said so to those around me. Sure enough, when a mechanic came over to check things out, some part of the exhaust system ceased to vent out away from the cockpit, and the hose was pumping the fumes right into the cockpit.

And that was it for that plane for the day. And I stopped flying for rest of that afternoon.

The ads are right. You don't know that a device or appliance may be leaking the stuff, unless you have an operating CO detector. So get it/them installed. And as of this past July in CA it's the law. Typical of the morons that wrote the law, they don't say how it's to be enforced. Add to that, the manufacturers have dramatically increased the number of units AND locations they recommend using/having them. Predictable for profits.

That aside, maybe logic will kick in and these alarms may help prevent some sleeping deaths.

ALAMEDA REAL ESTATE THIS WEEK....
Look at all the pending sales this week!

Unsold inventory this week 178, 187 last report
Pending inventory this week 115, 104 last report

Broker Tour 10 this week with 1 repeat
Highest and Lowest Priced NEW Listings this week (and no, your eyes are blurred for the first photo - it's the photo!

NEW 11
BOM (back on market) 2
REPOSITIONED PROPERTIES (price changes) 9
PENDING 18
SOLD 8

EXPIRED 5

WITHDRAWN / CANCELED 5

ALAMEDA REAL ESTATE AWARDS THIS WEEK...remember this is only my perspective!
Cute/Charming; Winner; Bang for the Buck

YOU'VE GOT A LONG WEEKEND I HOPE!

CARRY ON! MAKE IT WORK!

WRAP IT UP AND STICK IT ON THE BARBY!

BEST! MARILYN

How do you want to live?

2011-08-25T22:08:00.000-07:00

The photos in the links seem to be working! YAY!

Blog photo: I rode my bike to Webster the other evening with two blouses stuffed into my backpack. Destination: Garden Cleaners. Dropped off the clothes, walked out and there was my friend (and client) Jackie! She'd been hounding me to drop by her house and check out her gardens and improvements. I certainly was surprised, as was she! So we walked and along the way, she pointed out the wonderful things about her neighborhood. One of the was Bosco the pig.

Turns out that Bosco, in his fenced, front yard home may be banned due to some long standing rule about farm animals. Community members are rallying for Bosco.

Blog post: Please don't assume the blog title question has anything to do with Bosco. It has to do with each of us.

How do you want to live? It's a question I've found myself asking clients these days. There is so much to consider when thinking about the 'how' of living. It's more than where to live. It's more than the size of the home. It involves the lifestyle you want.

Simple and easy? Ancient fixer? Yard to tend? Patio for a barbeque and pet and potted plants? Committing to maintenance or paying a pro to do the work? Own? Rent? Stay put? Travel? Just need a home base? Move often? Be carried out feet first? Tied to a mortgage? Use your cash in other ways? Hot or cold climate? Have more than one place to call home? Close to family or get me outta here?

The answer to the 'HOW' question involves some serious thinking. It can be a fun game when done without the pressures of 'got to make a decision NOW.' It can result in mental road maps that include goals and what-ifs. And the answers can be surprising. And my clients are coming up with some very interesting revelations!

It's all personal and it's all good. And it's not the stuff you'll find in high pressure sales. But it is the stuff very real,working relationships are made of. And the results of such thoughtful thinking can result in very satisfying and less-stressed life choices. So try it. How do you want to live?

ALAMEDA REAL ESTATE THIS WEEK...
My clients got an accepted offer this week at 2915 Bayview. This duet on one of Alameda's lagoons that parallels Alameda's South Shore has a very motivated seller. It started in May at 639K and the most recent list was 529K. Pest was certified and it shows well, and some work at the upper level enclosed room is getting legalized.

Quick Glimpes-
15 year loans - pros and cons NYTimes
Builders planning for senior housing NYTimes

Unsold inventory this week 187, 176 last report
Pending inventory this week 104, 108 last report

Broker tour: 6 with 1 repeat. Seemed like our first full summer day from dawn to dusk, complete with a great bike ride.
Highest and Lowest Priced NEW Listings this week. I sold (had the listing) for 2122 Buena Vista, a 6 unit Victorian and the highest priced listing, about 4 years ago for 859K and now it's on the market for 825K.

NEW 13
BACK ON MARKET 4
REPOSITIONED PROPERTIES (price changes) 10
PENDING 11
SOLD 11
EXPIRED 3
WITHDRAWN/CANCELED 3

ALAMEDA REAL ESTATE AWARDS THIS WEEK...remember this is only my perspective!
Got Me a Makeover!
Get Me to Rehab!

THAT'S A WRAP! CARRY ON! MAKE IT WORK!

(local dining tip....Burma Superstar! 1345 Park Street, near Tucker's! Get there early...it was packed by the time we left and the food is terrific!

BEST, MARILYN

Face TIME vs. FaceBook...

2011-08-18T23:31:00.000-07:00

Once again, the links for the photos of the listings are not working. After a prolonged conversation today, again, and doing some updating on various programs I use (to no avail), I got an email this afternoon from one of the MLS techs. It said, "Our Paragon vendor just emailed me saying they are going to have an emergency release on this issue." Finally!

Blog photo and post: Lots of memories were generated during a visit to So CA, the purpose of which was my 40th (yep!) high school reunion. Corona del Mar High. So do the math....and you'll know how old I am. This is my bike on the Balboa Island Ferry last weekend. I took two super rides through the island, on the ferry and up to Huntington Beach and back.

It was amazing how young all of us attendees felt, looked (and not too many obvious facelifts), and acted (responsibly). It was a blast comprised of events over three days.

The first was a pre-union small dinner for 10 at a local restaurant in Corona del Mar, thoughtfully organized by two folks I hadn't seen in maybe decades. The dinner morphed into about 30 folks total at 3 tables, as others came to identical conclusions that eating at the Quiet Woman would be nice. And quiet it was not. But what a glorious night and kick-off.

The next night was the big bash at Balboa Yacht Club (my dad's still a member and has been for decades - it a low key place, kind of like Encinal Yacht Club here in Alameda), which was perfect in every way.

Then the next day a group gathered for a beach party, and more food, in one of the rich kid 'hoods in the ultimate gated community. A couple of us figured the wicked lady at the gate was the model for all TSA employees, or at least was retired from a TSA job.

Pretty nice - private beach, right on the bay. Arriving floating vehicles ranged from plastic blow up boats, plastic floaty rings, a sailboat, a motorboat, and a big time yacht that dropped anchor nearby then shuttled classmates to the beach via motor dinghy. The most fun to watch was one of the classmates in a rub-a-dub-tub with his 3 year old twins (kids, not grandkids). Now do the math on that one!

The best part was all the preconceptions from back in the day were gone. All the labeling, gone. All the judging, gone. It was about who we are today, not what we thought we were then. The incredible efforts of a marvelous committee made it just perfect (with a big assist in communications from FaceBook), from food to rockin' music (one of the classmates has a pro band).

In just a few short hours, bridges that had crumbled for decades were rebuilt and ready to lead to new/old friendships. This was proof that face TIME is far superior to FaceBook.

If you'd like to check out my more personal observations (even I was surprised at how this writing turned out) go to my 'for fun' blog Boomer Chick Musings I hadn't realized how emotional the event was until I wrote about it.

ALAMEDA REAL ESTATE THIS WEEK...

Call if you need vendor referrals.
-Today, I helped a client find a specialist who does mirror re-silvering. Turns out it's cheaper to get a new mirror unless you are dealing with a high value antique.
-Today, clients sent me photos of the results of a referrals I gave to them just a few weeks ago. They had a lift installed so stair climbing can now be avoided inside their home! YAY!
-Yesterday I gave out a painting contractor name.

Unsold inventory this week 176, 179 last report
Pending inventory this week 108, 100 last report

Broker tour 8 with 3 repeats

Highest and Lowest Price NEW Listings

NEW 10
BOM (back on market) 1
REPOSITIONED PROPERTIES (price changes) 10
PENDING 14
SOLD 12
EXPIRED 2
WITHDRAWN/CANCELED 8

ALAMEDA REAL ESTATE AWARDS THIS WEEK....none...I only saw one on the tour!

That's a wrap, carry on, make it work! Have a good weekend!

best, marilyn

Debt ceiling high, interest rates low, doubts flow.

2011-08-12T00:19:00.000-07:00

Another apology...as happened last week, the links for the property photos are not working this week when I plant them in the blog or when I click on them in the emails I send to myself. I've tried every which way. Email was just sent to the MLS about it.

Blog photo: From the estuary looking at the largest building at Alameda Marina as the sun backlights the windows near the roofline.

Blog post: Okay, don't even let me get going on the 'unanticipated consequences' of the morons running OUR government: credit rating lowered, stock market spiraling down, down, down, and a bit up. I don't know one person who isn't completely disgusted with all elected officials. They need to go back to their momma's, and memories, and learn manners. And they need to dig deep to try and recall how they played in the school yard at recess before they became so enamored with themselves as adults. AARRGGHH! If this is the new normal, I want abnormal. Enough on that.

Let's talk about appraisals. You'd only want to if you were trying to get a refi or a new loan on a purchase. I've had two listings that haven't appraised in the last few weeks. One was 5K off, and the other 11K. If you are attempting to take advantage of these low interest rates, you will be jumping through more hoops than ever, need to have serious equity (still) in the property, and then pray for an appraiser who knows the neighborhood.

Clients, if you are doing a refi, and need some supporting data, please give me a call. I need to know what the appraiser used for your comps so I can hopefully rip the report to shreds. And of course there is the Plan B....change lenders, as a long time client did for her cash-out refi. Alameda's US Bank made it a breeze for her BUT she had her ducks lined up, is super organized, and had LOADS of equity.

ALAMEDA REAL ESTATE THIS WEEK...
Closed 108 B Cypress (stock co-op unit) YAY! after too many months, last Tuesday. Here's the lesson....after so long on the market and no offers, one came in last December for 280K. And the Seller turned it down. It closed this week for 255K.

Had another new stock co-op listing for the Broker Tour the same day Cypress closed. 1708 3rd is bigger and priced at the same closing price as Cypress - 255K. It was previously listed with another company and the seller said 'agents are showing me the comps and your name is all over them - get it sold!) Check out 1708-3rd.com I'm waiting on Woodstock management to send me the pest and property inspections (all work done prior to going on market, as required).

Unsold inventory this week 179, last report 170
Pending inventory this week 100, last report 119

Broker tour...9 with 1 repeat (I think). I hosted an open house so didn't get to see many of the other properties (or go on the bike ride to do so!).

Highest and lowest priced NEW listings

NEW 12
REPOSITIONED PROPERTIES (price changes) 6
PENDING 4
SOLD 10
EXPIRED 1
WITHDRAWN/CANCELED 3

ALAMEDA REAL ESTATE AWARDS THIS WEEK...(remember this is only my perspective).
Since I only saw 4 of the properties it doesn't seem fair that I give an award to my new listing. But I'm going to because I do think it's worthy of Bang for the Buck.

That's a wrap! Carry on! Enjoy your weekend!

best, marilyn

Watching with the neighbors.

2011-08-05T00:25:00.000-07:00

Got word this morning that the links to the properties were not opening all the photos, if multiple photos were included with each property. I contacted the MLS to see if they knew something was wrong but no adequate response. Sorry about the lack of pictures. Bums me out. I sent a link to myself this afternoon and had the same result. SORRY!

Blog photo: Park Street Bridge sunset, taken two years ago while on an evening estuary cruise.

Blog post: Last Tuesday evening was the National Night Out, the annual Neighborhood Watch event that encourages folks to gather in the front yard or on the front porch of a neighbor's house, get the lights on, and get to know each other.

We have really good participation in our local watch which combines two blocks, and portions of three others. Over 60 members! I've been the one and only 'watch captain' since we moved here, and of course that was triggered by an event that affected our family and some friends. I don't have to do anything extreme, and participants have been trained to expect a Costco cake and bottled waters here for one evening each summer. It's a blast to see who shows up and this year I only emailed the notice twice rather than taping notes on everybody's doors.

Last December one of my projects was to get that watch list organized, updated, with opt-ins from those who wanted to be included, then turn it into a spreadsheet. Many thanks to one of the neighbors who added Excel touches to the updated, revised, and now gorgeous list. Maintaining it is now delightful, if that word can be used in conjunction with Excel.

I continue to warn everybody that the words Marilyn and Excel should never be used in the same sentence yet this year I've done more 'learning by doing' with Excel than I ever dreamed possible. Ah, one of the side benefits for volunteering for community activities...attempting to develop skill sets one never wanted to begin with.

Here's to watching with the neighbors!

ALAMEDA REAL ESTATE THIS WEEK...

Quick glimpses:

-Bank of America distressed borrowers MAY be able to get principle reductions or a loan mod (my comment = like right, we'll see how many this program positively affects)

-Bank of America and others electing to bulldoze after they foreclose

-New lower jumbo loan amounts - could affect you!

Unsold inventory this week 170, last report 179

Pending inventory this week 119, last report 101

Broker tour 12 with 3 repeats. Lovely day for a bike ride!

Highest and Lowest Priced NEW Listings this week.

NEW 15

REPOSITIONED PROPERTIES (price changes) 3

PENDING 26

SOLD 8

EXPIRED 4

WITHDRAWN 6

ALAMEDA REAL ESTATE AWARDS THIS WEEK...remember this is only my perspective!

Winner, Cute/Charming, Out of Rehab, Bang for the Buck all in one listing that was bought as a wreck and turned around with permits, taste, talent, and quality. Just a few short months ago this was a mess.

THAT'S MY STORY AND I'M STICKING TO IT! CARRY ON! ENJOY YOUR WEEKEND!

BEST, MARILYN

Elders abusing the older elders?

2011-07-28T23:58:00.000-07:00

Blog photo: from between St. Francis Yacht Club and Chrissy Field last September. To me it says everything about our gem of an area.

Blog post: The title is a mouthful, for sure. But two situations came to my attention this week that I think are worthy of consideration.

First, a friend called about his neighbor's situation. The neighbor, let's call him Chuck, is a wonderful, fully fit, smart and completely coherent 91 years old. He's lived in his house for 52 years. His wife passed in the past couple of years of Alzheimers. Our mutual friend is concerned about what he's been hearing from his next door neighbor. He's planning on selling his house and our friend wondered if he'd like to talk to me about that.

Here's the back story. A somewhat long-lost niece called him out of the blue in the past months. They've reconnected and now she's convinced him to move to Oregon to be near her. He made a trip there and just loved what he saw. That sounds fair enough. He's excited about making a move and since he came to CA from the cold reaches of the upper midwest decades ago he isn't worried about Oregon weather. Both he and the niece are saying they are kindred souls.

Here's the deeper back story. Chuck put a reverse mortgage on his house at the top of the market in 2005. He's been getting a draw on that of over $2000 per month since then. The niece convinced Chuck to take out the rest of the money he has left to draw and buy a house in Oregon and pay all cash. He now has used practically all that was available to him through the reverse mortgage which is about $310,000. And that amount is now more than what the house is worth. Chuck visited the lady who put him into the reverse mortgage and she turned to the market expert Zillow (see last week's post about my opinions of Zillow), pulling up a value of about $280,000 before costs of sale.

Chuck, our mutual friend, and I met up this week at Chuck's house. It's a sweet home in a long established tract in San Leandro. Mostly the goal was to hear about Chuck's plans and how he saw them all coming together.

Now let's jump to what I consider some obvious questions that came to mind. Why anybody would encourage somebody aged 91 to buy a house with most of the rest of his cash is beyond me. Just who is this niece? She's either 65 or 75 years old (it's changed during our conversations), moved her mom a few years ago from Idaho to be near her, and now has found Chuck. It sounds like she has a boyfriend. And she's very happy-go-lucky and fun to be with. Chuck lights up when talking about her.

She talked Chuck into giving her his power of attorney to buy a house for him. That house is also a short sale property, 14 years old, with three loans against it. He gave her a check for $2000 via the mail, with no payee filled in, to give as a deposit on the house that she beat two other folks out on and got for $146,000. He said that check has not yet been cashed. He was not sure what kind of power of attorney he gave to her: general or specific (just to acquire the property).

One of the first things we talked about was if he had received any legal or tax advice about the ramifications of pulling out the rest of his equity in his current house, selling it short, and then buying something else with it? Answer: No. Why not? Answer: Everybody (the niece and the loan officer) said it was just fine. They said he could just give it back to the bank and nobody would come after him, which is kind of true since CA is a non-recourse state. But that doesn't deal with his credit or tax consequences or even if the loan servicer (now appointed by HUD) would even deal with him on a short sale. Short sales are about hardship and papers and documents and more papers and documents.

I asked if he'd mind if I spoke to another person referred to me in the reverse mortgage biz to get further info. Fine, he said. And he was very forthcoming and very aware of the content of various statements and letters he had received about his loan. He allowed his neighbor to make copies and Chuck said I could share them with the lender. So I did.

That was 3 days ago. He called me this morning to see if I'd heard anything. Not yet. But about an hour later I did. After checking with two highly respected underwriters for these loans here's what she said. No, he could not put another reverse mortgage on the house he was buying once he closed on it. He'd have to wait three years because essentially his credit would be wrecked. There is a chance he may not get his own short sale approved by his lender because of the premeditated withdrawal of funds to purchase another home. And he may be facing tax consequences if his cash withdrawal is then deemed ordinary income. These are perhaps just tip of the iceberg answers but well worth pursuing with legal and tax folks. Ut-oh. Never thought of those things.

I told him that I encourage every one of my buying clients who come from out of the area to try before they buy. Get to know the place. Make sure it meets their expectations. And maybe that's what he might want to do by trying Oregon for six months (including winter) in a rental house. See if the situation is everything he wants it to be before he ties up his money and his life. Keep the existing house and then he knows he has a plan B in place, if he needs it.

We finished the call today with him on my cell listening to me via my landline leaving a message at the Alameda County Council on Aging (its version), trying to find the source for legal advice that's on the website. I said I'd be happy to get him there (even though he still drives!) and be a second set of ears if a meeting can be set up. He was most grateful and said he had a lot to consider. At one point he also commented that he'd "rather ask a dumb question than to make a stupid mistake."

Each expert I spoke with had the same feeling....something wasn't all good here. Question for you, what would you do if this was a family member or neighbor of yours?

Remember I said at the beginning of the post two situations had come up this week? Here's the second one. This afternoon at the title company, a local agent said she'd read about a reverse mortgage that was being foreclosed on. Tip of the iceberg? Are the young elders taking care of their older elders or taking them to the cleaners? We need to gently question as best possible our friends and relatives with all those-rich-life-experiences. Let them make decisions but offer acceptable choices that encourage them to explore their options. That's what I'd like to have done with/for me.

ALAMEDA REAL ESTATE THIS WEEK....
906 Central went pending...a total of 4 offers received.

Quick glimpses:
Want a jumbo loan? Time may be running out Smart Money

Property valuation websites...question them SF Mercury News
Finally some Wall Streeters may be charged LA Times

Unsold inventory this week 179
Pending inventory this week 101

Broker tour 11 with 2 repeats

Highest and Lowest Priced NEW Listings

NEW 8
REPOSITIONED PROPERTIES (price changes) 10
PENDING 17
SOLD 11
EXPIRED 3
WITHDRAWN/CANCELED 5

ALAMEDA REAL ESTATE AWARDS THIS WEEK...remember this is only my perspective!
Worth of the awards but can't get the links to work now!

Get me a Facelift! 428 Greenbrier
Get me to Rehab! 1043 Santa Clara

SO THAT'S A WRAP! HAVE A GOOD WEEKEND! CARRY ON!

BEST, MARILYN

Zillow - doesn't have the details.

2011-07-21T23:44:00.000-07:00

Blog photo: Gardenias in the back yard. This will sound stupid but the first time I ever smelled one was in a wrist corsage I was given for a Homecoming Dance in high school. It was kind of overwhelming (the event and the scent)! I don't feel that way now. Love it!

Blog post: A client (and dear friend) emailed me this morning saying she'd gone on Zillow to find out about the value of her home and was what it said right? (panic).

Simple answer NO!

Complex answer: Zillow doesn't know a thing about location, condition, improvements, etc. It is extremely unreliable yet lenders and appraisers use it as a tool. It only knows algorithms. And it works best in tract and cookie cutter homes but still can't take into account the three items above. I don't know about algorithms, which is the only reason this a complex answer. However, I do know a tad about local real estate.

This is exactly why you want your real estate agent to see the 'comps' the lender is using you if you are trying to refinance and/or get a line of credit. Example: A long time client wanted to secure a line of credit on her house. She has an incredible employment history, fabulous credit, terrific payment history, and has a nice low loan balance. Low.

Chase Bank told her what her house was worth. She called me. I asked for the comps they used. Each was a complete fixer, bank repo, and/or short sale. All the bank/appraiser did was go to a couple of sites like Zillow and put in the area and square footage and out pops 'the comps'. I gave her real market comps to give to the lender AND told her they just didn't want to make the loan.

She updated me last week saying that indeed, I was right, they actually do not want to make the loan and had narrowed down what they were offering her, and upping the interest rate. Plus they ended up disclosing a few material facts that included some substantial 'oversights' regarding details about the line of credit she was pursuing. She dumped them and is now working with another lender. Gosh, if I had the money, I'd make this loan to her!

Folks, lenders are looking for reasons not to make loans, throughout the loan process. You can beat them at their game if you understand they are documenting you to death, insulting your intelligence, and changing the rules on you anytime they want. Document the docs you give your loan officer. Be ready to give the same ones again but three weeks later for updates. Have your ducks lined up. Be sure and steady and read the fine print in the papers. Get those closing papers a few days before you go in to sign, if at all possible. Get a loan officer/morgtage broker who really knows the game.

ALAMEDA REAL ESTATE THIS WEEK....
After too many months and huge price reductions, the small 1/1 co-op unit at 1808 Main is pending! Three offers this week! What's with that?

After less than a week on the market 906 Central, the fixer duplex received 4 offers, 1 of which was withdrawn, and we may have some answers to work with tomorrow on that.

Quick Glimpses:
-Pay attention to this- jumbo loan amounts are being reduced and it will cost borrowers! WSJ
-Pay attention to this one too! was your line of credit yanked or cut? Join the lawsuit! LA Times
(I love this one because it touches (by coincidence) what I wrote for the post!)

-Major banks are getting fined, sued, watching stock drop, offering compensation to borrowers, BUT still raking in billions in profits. CNN Money

Unsold inventory this week 181, 183 last report
Pending inventory this week 101, 98 last report

Tuesday Broker Tour 8, no repeats (you'll see 11 because 3 are double entered as both single family and duplexes.

Highest and lowest priced NEW listings

NEW 16
BOM (back on market) 2
REPOSITIONED PROERTIES (price changes) 13
PENDING 18
SOLD 11
WITHDRAWN 4

ALAMEDA REAL ESTATE AWARDS THIS WEEK...remember this is only my perspective!
Winner doesn't it just gravel you when the agent doesn't put photos in? Even junk deserves photos. At least one of the front or something! This is not junk...
Cute,charming

OK! That's a wrap! Carry on! Have a good sunshiny weekend! If I can be of help give a call.

best, marilyn

Trying to get all signs to point to The Point!

2011-07-15T02:00:00.000-07:00

Blog photo: Summer garden colors brighten the dreary days this week!

Blog post: I attended the Wednesday evening rally and the reciprocal presentations of the City of Alameda (pumping Alameda Point to the Lawrence Berkeley Lab powers-that-be), and LBL powers (explaining the intents, desires, and work of the lab).

Folks who partook of the outdoor barbeque dinner seemed to like it and then 450+ locals filled the lovely Antiques By The Bay Theatre for the meeting. From the Mayor, to the city staff in charge of the Point project, to local community group leaders to private citizens....all welcomed the LBL officials and pitched Alameda from as many angles as possible. No stone remained unturned. It was like a pep rally! For the first time groups that have traditionally been on opposite sides of many issues, all came together to support this project. It was quite amazing.

Alameda was the first stop of the show LBL is giving to each of the short list hopefuls (Albany, Richmond, Oakland, Emeryville are the others). And the those cities, in turn, pitch their location to LBL.

So it will be interesting to see what happens as we move toward November of this year when LBL says it expects to announce the selected city. After that the due diligence and EIR efforts start in. The anticipated build-out is to be completed in 2016.

ALAMEDA REAL ESTATE THIS WEEK...
I put a new listing on the market this week. 906 Central is a fixer duplex. This may be a good property for extended family, someone who wants/needs a single level lower unit, an all cash buyer who has what skill/funds it takes to bring this back to it's glory, or an FHA buyer who wants to finance the purchase and improvements through a FHA 203K renovation loan. Once the purchase closes, then the rehab kicks in. Call if you have questions!

Open houses this weekend (Alameda Patch didn't have anything posted! So grab a Friday Alameda Journal and check out the open house page in the real estate section).

Quick Glimpses
Inflation or Deflation? A commercial real estate guy's take
Pent up housing demand? The Nat'l Assoc of Realtors economic expert offers one opinion.
Top 10 Housing Markets in US We are in one of them.

Unsold inventory this week 183, 190 last report
Pending inventory this week 98, 99 last report

Tuesday Broker Tour 10 with 1(?) repeat. Didn't get to all of them because I hosted on on the main island.

Highest and lowest price NEW listings

NEW 12
BOM (back on market) 1
REPOSITIONED PROPERTIES (price changes) 16
PENDING 14
SOLD 23
EXPIRED 5
WITHDRAWN/CANCELED 6

ALAMEDA REAL ESTATE AWARDS THIS WEEK...remember this is only my perspective!
Get Me to Rehab
Cute, Charming

THAT'S A WRAP! ENJOY YOUR WEEKEND! MAKE IT WORK!

BEST, MARILYN

It's just time....

2011-07-07T22:05:00.000-07:00

Blog photos and post: I took the San Francisco city skyline view photo just over two years ago during an evening bike ride at the former Alameda Naval Air Station aka Alameda Point. For years so many have tried so hard to get something going at the Point. It's a virtual wasteland for the most part.

Now that just might change. The Lawrence Berkeley Lab needs to create a second campus because they've outgrown the one they have now. Alameda is is on the short list of sites the Lab is considering (Richmond, Oakland, Albany, Emeryville, and Berkeley).

And guess what Alameda has. We have land and space. Check out the city website that explains what the lab is, the impacts to Alameda, and why Alameda is a good match for LBL.

Join up this coming Wednesday evening at Alameda Point for a free barbeque, rally, demonstration of support to the Lab powers-that-be, and a public meeting with those powers. Details are in the second section on the city website.

If you can't show up....but do the FaceBook thing....you can "like" the project.

ALAMEDA REAL ESTATE THIS WEEK....

Open houses this weekend (courtesy Alameda Patch)

Quick Glimpses:

Bank of America and Chase are finally doing some serious loan mods (NYTimes)

Buying high-end real estate in today's market (Reuters)

Demand is driving rents up (SmartMoney)

Another busy week. 265 Center Court closed on Tuesday. And Friday morning, the 8th, 316 Sunset Road closes. I'll be putting a fixer duplex on the market the beginning of this coming week. Need to get the website together!

Unsold inventory this week 190, 185 last report

Pending inventory this week 99, 102 last report

Tuesday Broker Tour 5 properties, no repeats

Highest and Lowest priced NEW listings

NEW 11

BOM (back on market) 0

REPOSITIONED PROPERTIES (price changes) 12

PENDING 10

SOLD 11

EXPIRED 6

WITHDRAWN/CANCELED 2

ALAMEDA REAL ESTATE AWARDS THIS WEEK...remember, this is only my perspective!

Get me a facelift (tie) 1304 Park Ave. 1328 Pearl

That's a wrap! Carry on! If you have real estate questions...give a call. I may be able to answer them, and if not, I'll try to get those answers! Enjoy the weekend!

best, marilyn

Freedom

2011-06-30T23:56:00.000-07:00

Blog photo: I love this picture. The order of the flags, the wind whipping them straight out, City Hall in the background. I took this a couple of springs ago and with Independence Day around the corner....had to use it again. Despite the messes we are all facing, the fact that our basic freedoms are protected makes the holiday almost sacred. Happy 4th! Claim a good seat along the parade route on Monday! Enjoy.

Blog post: Today was an amazing day simply for the fact that nothing amazing happened. Have you ever felt that way? When there are a few consecutive moments of calm breathing?
-My work obligations are mostly caught up and on schedule. There were no fires to put out.
-I hollered at an insurance agent because the group he has farmed out some workers comp insurance to can't seem to get the figures right for the second year in a row.
-I met with my finance guru and laid into him about what a lousy reputation his industry has but he says he's not like the rest. And turn around fair play - he said we both have the same issues to deal with in our chosen fields.
-I followed up with a client who just wants to get a home equity line of credit to get her oldest daughter's private college education started. The idiot appraiser had no concept of property values or 'comps'. We took care of that. And yes, this mom has loads of equity in the home I sold her many years ago.
-I had a golf lesson today. It's my weekly version of therapy. There's very little my golf teacher doesn't know about me. My back swing is getting right. My mental game of life keeps getting better.
-I went back out and hit a large bucket of balls late this afternoon.
-I went to a pending listing to be sure the seller left it in good condition. Good? It was great. She's an amazing woman. We agreed we wanted to hear nothing about anything from the buyer. I'll slap the agent and the buyer if there is even an indication of a squawk.
-The house cleaners didn't come but they called. All that cleaning up I did for them and then not to show up.
-A neighbor's house had new landscaping completed this afternoon. It is gorgeous and fun to see the reactions of the 'hood. 23 years of waiting and suddenly it was done.
-Another neighbor's exterior paint job was unveiled. The Colonial home has a fabulous new face! One of the owners said it had been like living in a burkha, the black netting and scaffolding hiding the unseen beauty behind it.
-The five tomato plants in the back yard all have fruit on them. The second crop of lettuce is about ready to pick. The apples are growing. Gladiolas are stretching for the sky in places I didn't even know I had planted them thanks to the excessive winter, spring, and summer rains.
-I took a bike ride at 7:45 this evening and got back about 9:20p. People were still walking, running, and riding along the beach.
-I put a clients' empty recycling bins away.
-I had a glorious fresh salad for dinner with all farm fresh ingredients (well, the Costco roasted chicken I got the other day probably can't be called farm fresh, eh?)
-And I made a fresh peach cobbler. Costco peaches. Fabulous.

Oh, I see I've made a huge mistake. I'm wrong. Very wrong. This day of 'nothing amazing' was simply bursting with amazing. Writing this has made me deeply grateful. And I've got the tears to know it.

ALAMEDA REAL ESTATE THIS WEEK...

Quick Glimpses -
Wells and BofA are out of the reverse mortgage biz (NYTimes)
Make money....pay your mortgage bi-weekly (NYTimes) - I did this on the last loan we had...and it's a reminder for me to set it up on the current one I have. It saves serious amounts of interest.

Unsold inventory this week 185, 183 last report
Pending inventory this week 102, 110 last report

Broker Tour 8 with no repeats and a ton of rain! No bike ride for me!

Highest and Lowest Priced NEW Listings

NEW 12
BOM (back on market) 2
REPOSITIONED PROPERTIES (price changes) 14
PENDING 10
SOLD 12
WITHDRAWN/CANCELED 3

ALAMEDA REAL ESTATE AWARDS THIS WEEK...remember this is only my perspective!
-Winner of the Week...price sper sq. ft is a bit high but I think it's all done at the property. Very zen-like.
-Not quite full rehab, needs more than a facelift
-Got me a makeover I sold this to my clients on 4th of July several years ago, and then sold it for them a few years later.
-Get me a facelift

THAT'S A WRAP! FLY A FLAG! WAVE A FLAG! SEW A FLAG! SALUTE A FLAG!

BEST, MARILYN

All is right with the world...well my little Alameda world.

2011-06-24T01:36:00.000-07:00

Blog photo: I have admired the wall of flowers on the side of one of the neighbor's homes. I finally took the photo this afternoon and was able to include the row of lavender (?) on the adjacent neighbor's home. Nice to look at...lovely to live near!

Blog post: This will be brief. If you haven't heard...South Shore Center (created in 1958) which became Alameda Towne Centre in 2002, ( Towny Centry as I called it), is once again back to Alameda South Shore Center with the tag of 'Come shop at the beach!' The new owners got the message that Alamedans just weren't giving up on South Shore.

Now if we can only figure out how to afford the pay increases the city council just gave to the firefighters this week, we might see a bit more of the all's well in Alameda finances.

Quick Glimpses
Foreclosure myths (Wall Street Journal)
Has your market area bottomed out? (Wall Street Journal)

ALAMEDA REAL ESTATE THIS WEEK...

Open houses this weekend (from Alameda Patch)

It's been busy. Last Friday three clients closed their transactions:
-1113 Camino Del Valle - Bay farm Island townhome Buyer
-1545 C Santa Clara Ave - Stonehenge Storybook home Seller
-204 Best Ave - San Leandro Mediterranean, Seller

On Tuesday of this week two clients closed their transaction:
-924 Del Mar Sellers who bought...
-5 Regulus, a Marina Village condo. Those closed concurrently.

Del Mar received 4 offers 6 days after it was put on the market. List was 535K and it closed for 580K, as is.

305 Court Street came back on the market today....boo hoo. Buyers got nervous about the economy we were told...Buyer's Remorse is the term most commonly used.

Unsold inventory this week 183, 193 last report
Pending sales this week 110, 104 last report

Broker Tour 10 w/ 1 repeat. It was a hot tour! I mean really hot temps! Great being on the bike!

Highest and Lowest priced NEW listings
Palmera was an expired listing in 2006 for $2 ,099,000. Then it was an expired listing in 2006 for $1,888,888. Then it was an expired listing for $1,750,000 in 2007. Now boasting a new kitchen it's on the market for $1,494,188 (a magic number?).

New 13
Back on Market (BOM) 4
Repositioned properties (price changes)14
Pending 20
Sold 13
Expired 1
Withdrawn/canceled 8

ALAMEDA REAL ESTATE AWARDS THIS WEEK...remember this is only my perspective!
Winner of the Week
Get me a facelift

Alrighty! That's a wrap! Carry on! Have a great weekend! Please ask if you need vendor referrals...I may be able to help!

best, marilyn

They're BAAACK....your purchase loan is in a warehouse. Really.

2011-06-17T00:29:00.000-07:00

Blog photo: This is (was?) the Coast Guard Commander's digs on Yerba Buena Island. Could be about the coolest piece of real estate in the bay area. One night 6 of us (our two kids included) were driven there by friends (long before the security concerns existed), and we quietly walked down the yard towards the water, saw some lights in the home, and the operating light house. Yes, it was scary...but fun...and what a swell example to set for the kids. Reminds me that I was the one who taught Evan how to seriously T.P. a house (belonging to one of the same friends on the light house jaunt), and I am personally responsible for all the foul words they know. What a fine mom.

Blog post: What is loan warehousing   and how does it fit into the market? I first came across the concept which was completely foreign to me about 3 years ago.   I had client who had his house on the market, and he and his wife needed to sell that in order to buy the next one. We got both homes pending, the upleg property contingent on the close of the downleg property...which is where a portion of the equity was coming from.

It was pretty tense as the parties manuvered to get the transactions closed. One of the lenders kept saying the funds were coming but nothing happened. Finding the people behind the voice mail was almost impossible. Turns out, we were dealing with a small time lender who got his money from big time lenders.

That guy held the loans only as long as it took to sell them on the secondary mortgage market (to investors who buy loans at a discount through some vehicle like FNMA or Freddie Mac, or to bundlers). Thus the concept of warehousing: moving the inventory or goods quickly in and out of the financial storehouses.

The problem occurred when the guy was not getting the replacement funds as quick as he was making the purchase loans for buyers. And that's where my client found himself. He was ready to close on his place but funding wasn't showing up, despite promises and lies.

As money would drift in, he no longer worked from the top of the pile down, he picked up a loan or loans that added up to what was coming in and funded those. That way they could whittle the pile down but the larger loans were kind of stuck.

Somehow, by the grace of God, we got a contact who I pictured was in the warehouse, waiting with a forklift to pick up a pile of money. He finally admitted what was going on and that they were waiting for investors to come back around, creating "new" money. The squeaky wheel got the grease, and dollars.

So what's that got to do with today. It's all happening again. It happened today! As the little guys are trying to make plays, they are finding a shortage of $ to meet what they have promised to their clients, and thus their own promises are stringing out a whole bunch of people. They tell the escrow officer the wire has been sent to fund a loan. It never shows up. What often takes but seconds becomes a slow motion train wreck.

What's that mean to us? It's another way the legitimate small guys are going to disappear because the big guys are sitting on huge forklifts loaded with money, ready to go, but only when they deem you worthy. I think we will see the big names getting bigger, and names that you may not know that are mortgage bankers (not brokers) will get bigger too. Business will migrate to the businesses that have loads of cash at hand. And don't be surprised to see fees climbing.

What's that mean to your purchase? If you can't fund your loan you may have your deposit at risk. You may be dealing with legal counsel as your new best (?) friends. What to do? Get out your tool box and start to drill down to find out how your lender works. Never stop asking questions. And ask them again.

ALAMEDA REAL ESTATE THIS WEEK...
The new listing at 316 Sunset Road went pending today....10 days on the market.

These are challenging times for all the parties so anything agents and their companies can bring to the table to minimize angst and anxiety is more than appreciated. It means understanding the processes and being able to anticipate next steps and plan B's and plan C's. Here's my truth. I love this market because it is clearing the riff-raff out. There are many skilled agents out there. But there are too many more who have either no clue about the biz because they haven't had to think, and worse, have no guidance from management in their offices. aarrgh!

Unsold inventory this week 193, 186 last report
Pending sales this week 104, 107 last report

Broker Tour 12 with 1 repeat

Highest and Lowest priced NEW listings

New 14
Back on Market (BOM) 0
Repositioned properties (price changes) 18
Pending 14 of the 14 6 are subject to lender approval (short sales)
Sold 11
Expired 5
Withdrawn/canceled 0

ALAMEDA REAL ESTATE AWARDS THIS WEEK...
It was a glorious bike ride! YAY! but I didn't see anything that rang my chimes enough to give awards!

THAT'S A WRAP! MAKE IT WORK! START PLANNING WHERE YOU WANT TO SIT FOR THE 4TH OF JULY PARADE!

HAVE A GREAT WEEKEND!

BEST, MARILYN

Leverage...

2011-06-09T23:57:00.000-07:00

Blog photo: Flowers give me calm, perspective, and a moment that, while fleeting, often circles back to remind me of simple pleasures. Flowers keep on giving, even when the ones I took this picture of are now falling off the stems, onto the floor, as I write. I cut these last Saturday evening from the yard. The surprise was that a gardenia was on the bush and too lovely to resist. It's the tiny one on the bottom of the photo. It filled the rooms with the most marvelous scent. So small and so much to give. Makes one think about what real power is!

Blog post: This post is the result of a request for comment by one our elected federal government officials The question was, how did we feel about having the government require all mortgage financing start with a 20% down payment from the buyer.   Here is my response:

There is no reason why properly qualified buyers should be excluded from a home purchase just because EVERY buyer must have a 20% down payment.

The cause of the mess we are in is the lack of government supervision of the financial and investment industries....including a 'look away from it' attitude by the governing committees that should have been on top of this.

There are plenty of qualified buyers with excellent and verifiable incomes deserving of home ownership.

Instead of continuing to find 'solutions' by punishing those who are financially capable...why not bring to trial the crooks who let this come to pass? Their names are out there, and yet not one has been tried. And the banking and investment communities continue to reap incredible profits due to the backroom, hurry up, bailouts.

There is nothing right about what happened, what caused it to happen, and what you 'leaders' think will fix it. Get off the fence and start to charge the white collar crooks with crimes.

ALAMEDA REAL ESTATE THIS WEEK....
My clients put their home at 316 Sunset Road on the market last Sunday night. A rancher, 3/2, for 539K. Click on the link to get to the website. We're still waiting on the virtual tour to be shot...lack of sun for a few days has delayed that effort. Since Sunset is the first right west of Grand Street, that means photos of the beach/shore/kitesurfers should be included! It will be held open by one of my associates this Sunday 2-4pm.

305 Court Street went pending this past week.

I was tending to family stuff in S CA. from Monday through this morning: checking in on Dad and his wife, meeting up with my brother from FL who came in for some biz meetings and to see the folks. It was good all around. So this week's post will be brief. I wasn't here for the broker tour so can't report on what was out there other than giving you the list.

Unsold inventory this week..186, 188 last report
Pending sales this week..107, 103 last report

Broker Tour 12 with 3 repeats

Highest and Lowest Priced NEW listings

New 19
BOM (Back on Market) 2
Repositioned Properties (price changes) 12
Pending 31
Sold 15 corrected! 6-15-11
Expired 2
Withdrawn 7

ALAMEDA REAL ESTATE AWARDS THIS WEEK....remember this is only my perspective!

None --wasn't on the tour this week.

THAT'S A WRAP! CARRY ON! I HEAR THE WEATHER SHOULD BE GREAT! ENJOY!

BEST, MARILYN

Fly away....

2011-06-03T00:37:00.000-07:00

Blog photo and post:: This photo is in honor of the two men who gave me my start in aviation, before I left the industry for real estate. First, my late husband. He took me out to the Sky Sailing Airport in Fremont for a glider ride.

Carl's dad had been a pilot for Western Airlines and had taught Carl to fly. I did not know Dick Schumacher because he was killed in a training accident for Western while doing 2 engine-out go-arounds at Ontario Airport in B-720s. It was the first known case of metal fatigue. The rudder failed. After that all such training was done in flight simulators.

My treat and trip from Carl for a introductory lesson at Sky Sailing (where he had flown with his dad who knew the gentleman who started that airfield), resulted in me working for Bud Murphy, aviation impact man #2, trading work time for flight time, collecting glider ratings, including a flight instructor rating in gliders while I was VERY pregnant with our daughter Sutter. That lead to flying more planes and getting more ratings in planes with engines.

All that time, and long before I showed up, Bud was giving a bunch of young kids and young adults (it seemed he handpicked us) huge opportunities to do crazy things with his planes: really practice the art of flying without engines, and taming tail draggers. By the grace of God I became part of that group. It was a magical time as we started delivering new planes across the country from the Piper factories in PA and FL. Then when the economy went south, some of us started repossessing planes around the western states. (more stories there!)

That's when I had the aha moment...I can do the same thing those guys are doing. And Bud Murphy, once again kind of sat back and said, Yep Merlin...you can do that. With a few hours under our belts, and being part of a legacy of pilots from Sky Sailing who were quietly proving and improving their skill sets as excellent aviators, the group was moving into cargo machines, slowly working into the airlines. Some of us auditioned for a gig based out of Chico, hauling salmon in Alaska. And we got hired.

A Flyboy friend (I call the core group of us who still get together my Flyboys) sent me this photo a few years ago. That's the type of plane we flew in Alaska. DC4s in the civilian lingo, and C54s in military speak. At that time I was pregnant with Evan but the company, Aero Union, didn't really need to know that.

I only wish the planes we flew looked like the photo. But they did the job of carrying about 18,00 pounds of fish on each run, whether we landed them on a hard-pack beach at low tide or on a joint civilian/military airbase, even when not all 4 engines were running. We had one trip with an engine failure on an outbound leg but it fired up for the return flight. Then on the inbound leg, when I was flying the beast coming in for a landing, a different engine failed.

Today Bud Murphy passed on at his home surrounded with loved ones. Just a couple of months ago we had another reunion of about 20 of us, at his request, at our house. He loved it despite the physical challenges he was facing.

I've been in awe of what he and Carl gave to me and trusted me with those years. Me, a kid, married at 20, flying machines that far more experienced pilots have never piloted, taking 8 years of classes finally getting a 2 year degree in Aviation Sciences from College of Alameda, encouraging my husband to fulfill his dreams by starting his own yacht design office in our laundry room when we had a daughter only six months old, and winding up as an amazing family of four. I'm not sure it gets much better than that. Thank you, Carl and Bud for your huge roles in all of it. And thank you,God, for your generous, watchful, and protecting hand in it all.

Quick Glimpes
-Confidential federal audits of the big banks...more mortgage fraud.
-Adjustable rate mortgages....there is a place for them (ask me...we've had three over the past 22 years one of them for less than a year when the savings and loan debacle hit, then one for about 19 years, then one I just got about 2 years ago. These are the only options when dealing with finacing 5 or more units. And they've been good.
-Cheap real estate....but you gotta live in the midwest to get it.

ALAMEDA REAL ESTATE THIS WEEK....
Well, I'd say it's been a quiet week but it hasn't. Another listing sold. 924 Del Mar went pending after receiving 4 offers on Monday. Will be putting another property on the market by the first of next week, and took a listing for a fixer today but it will be a month or so before it goes on the market.

Unsold inventory this week 188, 202 last report
Pending sales this week 103, 102 last report

Broker tour - 10, 2 repeats - rainy, rainy, rainy, drove car. ugh.

Highest and Lowest priced NEW listings this week
1 high, and 2 tied for low

New 7
Back On Market (BOM) 2
Repositioned properties (price changes) 12
Pending 16
Sold 11
Expired 8 includes my listing at 933 Shoreline #306...no sale but it did get rented by HBR Rentals!
Withdrawn/canceled 2

ALAMEDA REAL ESTATE AWARDS THIS WEEK...remember this is only my perspective!
Winner(s) of the Week! tie!

THAT'S A WRAP! CARRY ON! MAKE IT WORK! HAVE A GREAT WEEKEND!

BEST, MARILYN

Plant and Rant

2011-05-27T12:20:00.000-07:00

Wow. Twice in 3 weeks....last night after meeting with clients until about 8:45pm I decided to start getting the links for this week's post. MLS was down for scheduled servicing! I must have missed that memo....and it was still down at midnight. This morning I've been fitting pieces of 7 different transactions together (two for my partner who is back from vaca, and 5 of my own.). So here we go.

Blog photo: This was taken last week at 1545 C Stonehenge, a listing I have that is in contract. I'd not seen this flowering plant at the corner of the house near the garage, surrounded by pavement and stucco, under a non-dripping water spigot. I loved what I saw because it was a reminder that I need to grow wherever I'm planted and the opportunities for that growth will be realized regardless of the challenges. It's a reminder that it's what I have to do everyday, work or play. And the message was delivered in such a subtle but rich way.

Blog post: So the CAR (CA Association of Realtors) asked its members to sound off about short sales. They asked and I did. Except for a couple of changes to protect parties, here's what I sent to them.

Dear Friends at the California Association of Realtors,

Thanks for the email blast to members encouraging us to sound off about short sales.

Here's my story thus far.

Address **** ******* *****, Alameda, CA.

I am representing a buyer. It has been about 2.5 months since offer was submitted along with one other. The Seller paid 880K for the place. It came on the market for 600K. It needs work. My clients offered 485K. The other offer was accepted by Seller.

Agent assured my clients when they went through an open house that he was very experienced with short sales and he knew what he was doing. He is not using a licensed facilitator but doing it all himself.

Almost 2 weeks ago, when I was calling for another update, he said the first buyers dropped out, and another set came in. Total of 3 offers (which I told him was news to me), and then quickly down to 2.

The bank, Wells Fargo, (it seems he's only dealing with the first, Wells Fargo, since he never mentions Discover Bank, the second) then tells him to give a price out to the buyers for 571K and the buyers to submit their highest offer. The agent also says the lender has a report of 32.5K in repairs and that has been factored into their offer to sell for 571K.

My question to the agent was, where's the list of items and pricing comprising the repair list? How did they get to 571K...let's see the appraisal or something. He says the lender won't release the info.

I responded by saying not only it is unethical to have that info as 'the seller' but it is illegal to withhold it. No response to that. My clients elected to stay at their price and they are considering another regular sale, close by, in nice condition with a water orientation as well, that was listed about 3 weeks ago for 639K and last week dropped to 599K.

And another question I had for the agent is how are my people supposed to negotiate when they don't have one thing in writing from the Seller that their offer is accepted by the Seller?

Where do these lender morons get off even negotiating and end-running the Seller?

To add to that the title/escrow company, Placer Title, the Buyer's choice, has determined the wife should also be signing the purchase offers since although the husband bought it as his sole and separate property, she signed her name to the second and that makes her a party of interest and completely involved in the transaction. Nobody at Chicago Title, the seller's agent's choice, told the agent that when he opened up a pre-escrow (as we did at Placer Title, prior to making the offer). I have not heard from the agent how the lender expects to deal with this.

AND to add one more thing to the mix, I checked the permit history, and the city has filed a code-compliance complaint against the property, and the agent never elected to dig a bit deeper and spend a few bucks to find that out. Ignorance is bliss.

I expect to see this property go to foreclosure.

I have only dealt with 2 short sales (both on the buyer side) since this mess began. All my other listings have been have been motivated sellers with clean, yet challenging (title issues, illegal units, code compliance issues, condition, tight money, etc) transactions. But I was around in the early 1990's when I did my first short sales and nobody even knew what they were then. Of course this ginormous mess exceeds anybody's wildest nightmares.

If I can be of assistance, let me know.

Thanks CA Association of Realtors for being a great trade organization.

Quick Glimpses - updates on the state mandated (but unclear how it's enforced) carbon monoxide detectors, required in single family homes July 1.

ALAMEDA REAL ESTATE THIS WEEK....
My listing at 108 B Cypress went pending two nights ago. A long time coming for the very nice listing in Alameda's only (and mostly rare in CA) stock co-op. And I have clients who bought 5 Regulus so that is in contract also.

I wasn't on the broker tour on Tues....held 924 Del Mar open and the property received very nice comments. If there are offers, the Sellers will review them on Monday.

Let's get to the properties.

Unsold inventory this week 202, last report 201
Pending inventory this week 102, 104 last report

Broker Tour 13 with 1 repeat

Highest and Lowest priced NEW listings this week
(1729 Buena Vista that shows up as new was on the market over 400 days...I'm pretty sure I gave it the Get me to Rehab award back then. I'm quite sure nothing has changed)

Remember...some of these may be expired and/or withdrawn/canceled or pending, and showing up as BOM or NEW. There is some hopping amongst the categories out there.

New 14
Back on Market 3
Repositioned properties (price changes)13
Pending 17
Sold 14
Expired 1

ALAMEDA REAL ESTATE AWARDS THIS WEEK...remember this is only my perspective!
Get me to rehab
These owners have talked to me for probably 15 years....but I'm not the listing agent on this. I saw it a year ago and I understand it's not changed much. Bring cash...lots of it. Price should pull investors in.

Get me a facelift - short sale in the Harbor Bay Community.

THAT'S A WRAP! CALL IF YOU NEED VENDOR REFERRALS OR HAVE SOME GOOD ONES TO SHARE WITH ME. HAVE A GREAT WEEKEND! FLY A FLAG!

BEST, MARILYN

Shorts sale...

2011-05-20T00:57:00.000-07:00

Last week was the first time I've not posted as planned since this gig started over 3 years ago. Google's Blogger was not only down when I went to work on it, it was down for hours and hours. And I got so busy with work there was no way to squeeze in time for the update. Plus I was handling a partner's biz, too.

This week's post will recap the past two weeks.

Blog photo: Is this the start of something big? Last year 3 containers. This year 8! And the lettuce and tomatoes and basil are growing crazy big! Add to that I've started subscribing (3 weeks now) to Farm Fresh to You so am getting a small box of mega fresh fruits and veggies for $15 every other week. I just went on the website to modify my 'don't give it to me' list since I don't need more lettuce and greens with what's going on in the backyard. Today the small trade-it-back-in box came with 2 ears of white corn, 1 lb small peaches, 4 small lettuce heads, 1 bunch radishes, 1 lb Fava beans, 1 lb small potatoes, 1 bunch cilantro, 4 Midnight Valencia oranges, 1 Haas avocado. Some of the selections are forcing me to try use new items I don't usually work with: Fava beans, turnips, sweet potatoes, radishes, collard greens and the like.

IF you want to try it, use promo code 6164 and you get $5 off your next delivery. If you mention my name, it says I'll get credited for a complimentary delivery but I'd rather that go to the Alameda Food Bank...so I'll see if that can be worked out. I'd rather it go to a group who can use it and I'll keep paying for my own box.

For those of us who can't pull it all together to figure out how to cook certain items, a newsletter is included in the box that has the descriptions of what's in the box, news, and two recipes for items in the box. AND they have a recipe library online.

Blog post: I get emails from a companies I occasionally buy clothes from. A couple of days ago I got one with the subject SHORTS SALE! I was kind of amazed that the online store had a headline for short sales. Then I realized it said SHORTS sales. I didn't open it up...not interested at the moment. But I laughed because little did they know how many emails I do get about short sales, as in real estate. The moment of chuckles passed quickly, and then it was back to work.

Speaking of short sales...here's an article noting one guy's experience with long,drawn out short sales. And I have clients going through a lender's moronic, unexplainable actions right now. There were two offers. Then, unknown to me, a third showed up. What, the listing agent said...didn't I tell you? No, not so much. Then after several weeks, the offer the seller had selected to work with, dropped out. I found that out right after I found out about offer #3. So we were back to 2.

The place is a mess: appears to have moisture issues, abuse issues, ownership/deed issues, AND city-filed code compliance issues, but a decent location. One of the two lenders is now countering my clients' offer even though we have nothing in writing resembling an accepted offer by the seller (the upside down owner, who paid about 880K for it). The bank's proposed price came in about 100K over what was offered and 30K less than the original list price! And the agent relayed the fact that the lender had 32.5K of repairs saying that was taken into consideration by the lender. Okay, so where is the list of repairs for 32.5K? They won't release it says the agent. Hhmmm. says I. I wrote back to the agent saying not only was the one lender's position unethical, it was unlawful to have material facts and not release them. Who are these idiots behind the banks? I'd like to offer them a SHORTS sale.

Quick Glimpses - a good one on how we got 30 year mortgages and what may happen to them.

ALAMEDA REAL ESTATE THIS WEEK AND LAST...
-My listing at 204 Best in San Leandro got four offers a week ago Monday and went pending two days later. Quick lesson to agents....don't send a cover letter that explains the offer and stresses the price as 315K and the actual offer is for 283K. The list was 289K and it did go over. It showed great but needs work and
-The listing at 1545 C Santa Clara was dropped 30K to 435K and went pending four days later.
-The listing at 265 Centre Court was dropped 47K TO 448K and got an offer four days later. Escrow is opened.
-My partner got an offer on a listing and that went pending...that was a long time on the market.
-I got a call on Monday from clients who wanted to see a property. They wrote an offer on it on Tues and listed their house the next hour. 924 Del Mar is now on the market....it's so quick we are still rounding up reports, but it is starting to get shown. If you don't know where Del Mar is (street sign says Delmar) it's one block long, one block west of Broadway, off Otis. A delightful tree-lined street with lovely homes. I have five clients that live on that street or the corners of it!
-This listing at 1808 Main Street, took another drop in price from 149K to 129K. That Seller says get it done!
-All listings, except Del Mar have website links on the right side of this blog. Del Mar will have one shortly.

Unsold inventory this week...202, 201 last report
Pending inventory this week...104, 92 last report

Broker tour 16 with 1 repeat...rainy day...no bike ride for me!

Highest (more than one, covering this past 2 weeks) and lowest priced NEW listings this week

Remember...some of these may be expired and/or withdrawn/canceled or pending, and showing up as BOM or NEW. There is some hopping amongst the categories out there.

NEW 20
BOM 2 (back on market)
REPOSITIONED PROPERTIES 13(price changes)
PENDING 32
SOLD 16
EXPIRED 4
WITHDRAWN/CANCELED 13

ALAMEDA REAL ESTATE AWARDS THIS WEEK...remember this is only my perspective!

Winner of the Week
Cute, charming
Get me to rehab 3 way tie!

SO THAT'S A WRAP! MAKE IT WORK! HAVE A GREAT WEEKEND!
BEST, MARILYN

The Mannequin House is on the Market!

2011-05-05T22:46:00.000-07:00

Blog photo and post- for some of you Alameda long-timers (I changed the wording from "old" timers), you'll know exactly the house I'm talking about. It 's 1501 Central. When we first moved to Alameda in 1973 we'd drive by that glorious Victorian. Up on the top floor in the witches cap area, there was a very friendly old lady looking out on the world. Always there. Not scary. She was a constant.

This past week that house came on the market. For some time Ms. Mannequin has been gone. Used as a triplex for an extended period, it is really quite a glorious property. The inlaid hardwood floors give a clue of how/where walls have been dropped and inserted. The main level must have been an amazing set of huge rooms. None of the kitchens are anything to write home about, and the second and third floor units are as unique as the house itself, typical of such conversions. No back yard, some off street parking, some separate metering, and a huge basement top off the offering.

I asked the listing agent about Ms. Mannequin, as have many others. To my delight the agent said she was in the basement! And sure enough there she was. Hardly a proper place for a proper lady who became a proper Alameda icon!

When I first saw that upper unit I couldn't figure out how a regular sized mannequin would be able to fit there in such a way that her upper body and head could be seen peering out that window. Well, it's because she's not full sized. She's a perfectly sized petite lady for that perfectly lovely room with a view.

Quick Glimpses - here are some excellent articles this week!
-Lots of home buyers need education about financing (the San Diego Union-Tribune)
-Try before you buy (your retirement home) (WSJ - Smart Money)
-How to sell your home in tough times (CNN Money.com) This is terrific!
-Moving to Maryland, DC, or Virginia? 0% down loans. (WSJ)
-Financing a vacation home purchase (NY Times)
-FNMA and Freddie Mac to align their servicing processes (no foreclosure proceedings while loan mods (which rarely work) are being attempted, communication processes with borrowers to be tightened)

ALAMEDA REAL ESTATE THIS WEEK...
Check out the number of pending sales this week and only 1 is subject to lender approval. It doesn't mean there aren't short sales and bank repos. There are plenty of them and more to come. It doesn't mean that real estate is rebounding in price. It's not (see article above). It's doesn't mean a properly priced property always gets multiple offers. It doesn't mean the offer will be where a seller wants it. It doesn't mean that because the offer is accepted that the buyer's financing goes through (it is TOUGH out there for sincere, qualified buyers to get that great loan).

It means some sellers are getting a clue about finding the right price for a solid sale. That happens in one of three ways. They can follow the market down as similar or surrounding properties get price adjustments. They can turn down a decent offer, hoping to get something better (not a solid or dependable strategy), then end up selling for less than the early offer. OR they can price it under the most recent sales creating a buzz that it is a good value....encouraging buyers to act now. Nice to have choices. Better to be wise.

Not in Alameda but I've put 204 Best Ave. in San Leandro on the market last Tues night. 2/1.5 (over 1700 sf) Mediterranean loaded with original architectural details. 289K. Getting LOADS of attention from agents and consumers. This is a regular sale - NOT short, NOT a bank repo.

No more link for OPEN HOMES. The Island Blog closed up last week. What a great job Michele Ellson did for the past few years. With a true journalism background, she brought balance to daily reporting. But she's grabbing her life back and more power to her!

Unsold inventory count this week 201, 205 last report
Pending inventory count this week 92, 96 last report

Broker Tour - 17 this week, with 2 repeats (2105 Clinton was taken off the market, agent changed, belongings thinned out, and price brought down 10%. Pending now...less than a week on the market) See article and commentary above.   It was a great bike ride to see 9 of them on a gorgeous day!. Saw another 6 after our sales meeting on Wed.

Highest and Lowest Priced NEW Listings

New   15
BOM (back on market) 4
Repositioned properties (price changes) 15
Pending 26
Sold 15
Expired 5
Withdrawn/canceled 6

ALAMEDA REAL ESTATE AWARDS THIS WEEK...remember this is only my perspective!
Winner of the Week
A terrific example of a mid-century rancher. But it doesn't match the neighborhood....so I asked the agent who sold it to the owners 20 years ago, if it was custom designed by the developer of that area in South Shore. Sure enough...it was. Good news...one of a kind. Bad news...one of a kind and the others don't match. But I believe it's priced right.
Grand Dame
Bang for the Buck
Cute/Charming
It's pending already (see commentary above)
Out of Rehab
A step-free ground-level unit at The Willows that has been completely re-done. Perfect for those who can't deal with stairs. Unlike most units there (2/1.5) this is a 2/2.

That's it! A wrap! Carry on! If you do the Mother's Day gig....may she be given peace, pampering, and appreciation....even just a tiny amount of one of those EVERY day will make her one happy dudette!

best. marilyn

Put on the brakes!

2011-04-29T00:14:00.000-07:00

Blog photo and post: Clients who have become friends (even with me not selling them a house yet!) came by an open house a couple of weeks ago and handed me a wrapped present! It was the bag pictured on the left, purchased at Modern Mouse at Alameda Towne Centre, fast becoming the 'go to' place to get local stuff!

The design reminded me of when Carl and I first got here and a lovely lady from church took me to dinner over at the 'go-to' place at the San Leandro Marina. Can't remember the name of it. We're talking a LONG time ago. She owned a local real estate office and little did I know I'd be in the same business several years later. At the time I think I was just starting to work at the Sky Sailing Airport in Fremont (glider rides along Mission Peak) and from there I got totally wrapped up in flying as a profession.

Anyway , Mickey Agnew was driving us back from dinner over the BFI bridge and she got pulled over by a police officer on Otis. Ooops. Now I was from the big city Newport Beach. Imagine my surprise when the officer came to her door, looked in and said "'Mrs. Agnew, you know better than to speed here in town. Now you promise to slow down to 25 and I won't give you a ticket." Once again, I had to wonder just what is this place we've moved to? How does it happen that drivers and cops know each other by name? She promised to be good. No ticket. No more speeding.

The canvas shopping bag says it all to me. Come over the bridges or through the tube....SLOW DOWN! Even our Highway 61 is just a slow cruise. I wrote lyrics about Highway 61 to the tune of Route 66 for a Harbor Bay Realty Christmas party many years ago and a group of us sang it.

I'd like to figure out how to make a bike vest with the shopping bag message featuring iridescent reflecting letters so I could wear it when I'm riding day or night!

Shameless self-promo #1 - I've been doing The Second Story blog for 3 years come May 1! I can't believe it! It was a leap of faith to take it up when I knew nothing about blogging except what my Blogging for Dummies book said. Prior to that I'd been doing a weekly email blast for 10 years to clients who opted in to it. Back in those olden days there were no links, no photos, just me hand typing descriptions of properties that I thought were interesting, talking a bit about the market, and giving some one-sided opinions. What an evolution! The scary part is not knowing who is reading this.

Here's an example: I was riding my bike along Mecartney on Bay Farm Island, during the broker tour maybe a couple of years ago. A city truck pulled over about a block ahead of me. The driver got out. I knew him. But I was trying to see houses so I couldn't jaw around He wanted to know the name of the inspector I casually mentioned in a blog post, who didn't take off his dirty shoes while doing an inspection at a listing I had! I said I wasn't going to say since he could figure it out. The point I was hoping to make was that we needed to act like guests in the properties we enter. On my gosh, a city inspector was reading my blog! I tried to act cool but that was the first inkling I got about how this blogging thing can work! He probably doesn't remember but it made an impression on me!

Shameless self-promo #2! May I direct you to a recent post I made (as in last night) on my for fun blog...Boomer Chick Musings. It's gotten quite a few comments from folks saying they were cracking up (could have been titled Prude at a Pleasure Party but I didn't think of that then)! If you choose to take a look and know someone who might identify with it...pass it along. If you'd like to be included in a BCC email blast when I post on that blog, send a request along. Easiest is to subscribe to it, just like you can The Second Story. And it's just as easy to unsubscribe....

ALAMEDA REAL ESTATE THIS WEEK
Quick Glimpse: from the WSJ
"Mike Morea and his family have outgrown the 800-square-foot, two-bedroom home he bought eight years ago in Seminole, Fla. He hopes the bank will approve a short sale for about $85,000 for a $50,000 loss. In December, Mr. Morea saw first-hand why buyers are more attracted to foreclosures: he bought one for himself, a $200,000 three-bedroom home in a nicer neighborhood 10 minutes away.

That's what every seller is running into," says the 31-year-old police officer. "Nobody is going to buy your home at retail price if there are 30 foreclosures available."

Now what am I missing here? How stupid is this guy to use his name, admit that he's bought a larger home, and now wants to short sell his smaller one? I'm not feeling the love for the guy. Am I losing it?

Read the whole article.

Open homes this weekend thanks to Island Blog (you've got to click on the pdf for the list once you've hit the link).

Unsold inventory count this week 205, 192 last report
Pending inventory count this week 96, 96 last report

Broker Tour 13 with 1 repeat - a great day for a bike ride....around BFI back up towards the middle of the main island, then the rest of the way to Alameda Point to show the little listing at 1808 Main, and then back home, toting a few things I got at the Farmer's Market on Haight at Webster. Go at the end...prices are very good!

Highest and Lowest priced NEW listings this week (you'll notice that a couple are expired and then appear as new...those don't count)

New 14
BOM (back on market) 5
Repositioned properties (price changes) 11
Pending 16
Sold 9
Expired 2
Withdrawn/canceled 1

ALAMEDA REAL ESTATE AWARDS THIS WEEK...remember this is only my perspective!

Winner of the Week

THAT'S A WRAP! CARRY ON!

I'LL BE HOLDING OPEN 108 B CYPRESS (nifty cottage style stock co-op unit) SUNDAY 2-4, AND IF FOLKS ARE INTERESTED i'LL OPEN 1808 MAIN AFTER THAT SINCE IT'S JUST AROUND THE CORNER.

BE WELL! marilyn

Only in Mayberry. Well maybe in Alameda...

2011-04-21T23:12:00.000-07:00

Blog photo: After some serious pruning (by experts) last fall, the Princess Trees became mulch, the yard was opened up, and for the first time in years there is a lovely view of the guy who lives in the backyard....Cecil Bruner, who also got a serious haircut back then.

I wasn't sure how his name was spelled so I did a google search. He is a she! It's Cecile Brunner! So my new best friend, la Cecile, is getting ready for the once per year show she gives climbing up the back fence and just hanging out.

Blog post: Have I said recently how much I love this town? I know I'm not the only one because so many are so passionate about so many hot topics: pensions for employees, Alameda Point, a new (is it official?) city manager, the old city manager, all the lawsuits filed against the city by all the 'wrongfully terminated' employees (that would be the city attorney who took another job while still on our payroll, the former city manager, the former fire chief), the warnings about city finances by Alameda's financial couple the 2Ksquareds (blogger doesn't let me insert the small raised 2 for the symbol 'square').

Those two guys are Keven Kearney (City Auditor) and Kevin Kennedy (City Treasurer) - get it? 2Ksquared. I've been calling them that for the past couple of years...I think I made it up but maybe not. I linked above to a very direct interview done with Kennedy last Nov. These guys put the Alameda Power and Telecom mess in front of the city and city council a few short years ago, and now they are calling a spade a spade again. And we should be very grateful. Full disclosure - I don't know either of them.

But when I see the stunned looks that say 'moi?' on the faces of 4 of the 5 city council members (the new guy Bonta wasn't there until Dec), having personally either attended or watched city council meetings during which the 75M unfunded liabilities were discussed AND brought to the council's attention by the former ICM (interim city manager) and the citizen-comprised Fiscal Sustainability Committee... I think I want to puke.

Good news? In this town everybody has a say and says it! Mayberry By The Bay....Alameda! I LOVE IT!

ALAMEDA REAL ESTATE THIS WEEK...

Open Homes this weekend (not so many due to the Easter holiday...) the link from Island Blog isn't working...boohoo and sorry!

Unsold inventory this week 192, 194 last report
Pending inventory this week 96, 95 last report

Broker Tour 11 with 4 repeats.
I actually got to go on the Broker Tour (wasn't hosting a new listing open), and rode my bike! When I got close to home while still pedaling around I stopped to change my rain garb clothes to summer, then later on I changed back to winter!

Highest and Lowest priced NEW listings this week.

New 12

BOM (back on market) 0

Repositioned properties (price changes) 13

Pending 16

Sold 12

Expired 1
actually taken off the market some time ago but showing up as expired now

Withdrawn 2

ALAMEDA REAL ESTATE AWARDS THIS WEEK...remember this is only my perspective!
Get me a facelift (3 way tie!)

THAT'S A WRAP! CARRY ON! If you celebrate the religious holiday, Happy Easter. If you celebrate it Hallmark-style bite those chocolate bunny ears off gently, and have a joyous day either way!

Best, marilyn

The ultimate home pee-wee golf hole.

2011-04-14T23:48:00.000-07:00

Blog photo: Blooming beauties!

Blog post: The photo on the right is what a golf ball looks like after working its way down a long hole. A 100 foot drain hole.

This will forever be a reminder to me to have the drains cleared every year! Oh that's right, I already have that done every year!

So what happened? The plumber and I aren't sure. All I know is nearly a month ago an exterior backyard drain that is supposed to run out near the front sidewalk, started backing up into the nearest low spot. And that turned out to be the drain in a light well (a carved out portion of the foundation that allows an egress window to open up from a bedroom). Then the base of the light well proceeded to fill up and the water found it's way under the window seal and into the room.

All this happened about 10pm while I was trying to figure out why, in the midst of so many storms, the curb in front of out house was dry. It's never dry. Never. That's because we pump fresh water (we sit on an aquifer) out to the street, along with exterior run off water caught by the french drain system. And that pumping takes place even in the summer. Here it was early spring, the heavens were crying big tears, and there was no water at the front curb? Ut-oh.

After I shoved some furniture away from the window while simultaneously mopping up the water with about 15 beach and bath towels, I called the plumber and the carpet rescuer. Adolfo from Clean it Carpet Cleaning (my fave), told me to keep dry towels on the carpet and get some fans shoving air over the area. He'd be there at 9:30am.

The plumber, Ethan's Service Plumbing , (he knows the systems in and around this house very well and he's another fave), picked up my email at 3:15am because he couldn't sleep. He said he'd be over at 8am.

It turns out that not only did two of the three pumps in the sump fail (they were quite crusty) but a drain was clogged. After about 2 hours of wrestling with 100 feet of snaking line, attacking drains from the front and back yards with no luck, as we stood out front Ethan removed a vertical plastic drain cap on the low retaining wall where the subject drain is supposed to flow. And guess what was there....the golf ball.

Appearances indicate that it had been in the drain for a while....like years? With all the water we were shoving down the back yard drain, and the snaking of the drain from the front, it finally worked its way free. Now why/how did the ball get into the drain? We have a small putting green and somewhere along the way that drain grate, several feet from the green, must have been disturbed and the ball began its journey.

The only thing missing was having the one who hit it, or ooched it, or kicked it, or whatever, buy the traditional round of (soft) drinks (alcohol-free house), for Ethan, Adolfo, and me. What's best is overall: pumps replaced, working perfectly, and carpet and furniture salvaged and dried. And I went away for a few days grateful that it was discovered and resolved before I left. And I know the house sitters felt the same way!

ALAMEDA REAL ESTATE THIS WEEK...
I put a new listing on the market 265 Centre Court. It will be open this Sunday 2-4pm. Please check out the website...it is a really lovely townhome-style condo that I sold to the owner a long, long time ago.

My listing at 305 Court St got a price drop to 549K, down from the original 600K. Motivated seller! Duet style! 4 bedrooms 2.5 baths! No HOA fees! Super east end location!

Open Homes this weekend

Unsold inventory this week 194, 182 last report
Pending sales this week 95, 92 last report

Broker Tour 19 with 5 repeats

Highest and lowest priced NEW listings this week

New 19

BOM (back on market) 1

Repositioned properties (price changes) 13

Pending 14

Sold 5

Expired 3

Withdrawn/canceled 5

ALAMEDA REAL ESTATE AWARDS THIS WEEK...this is only my perspective!
Winner Even if it weren't my listing, I'd give it the award!

Get me a facelift

Got me a makeover! Tie Both are Woodstock co-op units and these often need freshening up!

Creative re-use! (never been awarded before!) This is a duplex, side by side units, divided by two single car garages. About 18 months ago the current owner bought it and merged the two units together via the garages, yet retained the flexibility of reverting it back to the duplex.

THAT'S A WRAP! CARRY ON! HAVE A GREAT WEEKEND!

BEST, MARILYN

Socially inept or socially adept? It's all in the media!

2011-04-08T00:52:00.000-07:00

Blog photo: A sunset moment for me last week, on my last bike ride of the trip to Newport Beach. This was close to the Newport Pier, on my way back from the Huntington Beach Pier, heading to the Balboa Pier, to catch the ferry to Balboa Island and pick up my car.

Blog post: If you have a small business in Alameda, or are a sole proprietor, or a hobbyist and haven't figured out how to make social media work for you....there's a free presentation at Julie's Coffee and Tea Garden on Tues the 19th from 7-8pm. I've had some tutoring from Karen Schiff recently and she really knows her stuff! (Full disclosure....she and her husband are clients of mine and bought an Alameda home last year. Many times we would all meet at properties via bike when they were shopping...super cool!) She gave a presentation to our office last week and got some rave reviews! There are only three slots left so check it out!

ALAMEDA REAL ESTATE THIS WEEK
I put a new listing on the market on Tuesday.. It's at Stonehenge, the Storybook Tudor community of 27 homes. Check out the property website at 1545 C Santa Clara . I'm giving it the cute, charming award this week. Almost any home in this cluster is guaranteed of that by just being there. It will be open between 2-4 on Sunday!

We're seeing properties that didn't sell last year come back on the market at reduced prices now. I have one that's been on the market again since February. So if you have been following the blog for a while you'll see some familiar faces. What folks are starting to figure out is waiting costs money....and money is more valuable today than tomorrow in every instance.

Open Homes this weekend

Unsold inventory this week 182, 175 last report
Pending inventory this week 92, 93 last report

Broker Tour this week 15 with 3 repeats

Highest and Lowest priced new listings this week

New 13

BOM (back on market) 1

Repositioned properties (price changes) 11

Pending 13

Sold 9

Expired 4

Withdrawn/canceled 3

ALAMEDA REAL ESTATE AWARDS THIS WEEK(remember this is only my perspective!)

Cute, Charming

Between Get me to Rehab and Get me a Facelift - a tie! Here's #2 (good opportunity to build out the high basement on this Victorian....it needs a foundation anyway!

THAT'S A WRAP! HAVE A GREAT WEEKEND! CARRY ON!

BEST, MARILYN

Spring has sprung....

2011-03-31T23:26:00.000-07:00

Blog photo: The mock cherry tree has a brief but glorious display this time of year!

Blog post: In my talks with buyers, agents, and lenders there is a lot of frustration with the local real estate market, especially now that spring has sprung and we aren't seeing a lot of new inventory. If I had the answer to what is going on, I'd expect I'd have left this world for higher callings!

Another frustration focuses on how much money is really out there. There is cash, cash, cash and more cash offers than we've seen for many years. The cash is coming from shrewd savers who have waited for this market for many years, knowing something had to give. A lot of it goes to 'fixer' purchases which are priced according to condition and most likely would not be able to qualify for more traditional financing.

Then there is the other side of that equation. Super well-qualified, well-document-ified ( made that up), well employ-ified (made that up, too) buyers, able to afford the payments including mortgage insurance fees, and all the high closing costs associated with minimum down-payment loans. These folks are feeling shoved out of the market by other all cash buyers who are not buying fixers.

Where is that cash coming from? A lot of it is coming from family members i.e. parents who have cash on hand, easily accessed cash via high equity positions in other real estate (as in a personal residence, free and clear or nearly so). They are purchasing the property for the kids (may not be a wise thing to give that cash to them but I can't say that because tax and legal advising is beyond the scope of my license). Maybe they buy it and then turn it into a loan and factor estate planning strategies into that. Ooops, I can't say that either because tax and legal advising is beyond the scope of my license.

Well, you get the picture. Cash buyers do have numerous tax and legal considerations, just like any other buyers, and coming in with a plan based on solid advice can make life lots simpler.

But back to the inventory issue. Unless there is a strong motivation for owners to sell, testing the waters is a waste of time and water. So folks are holding back if they don't have to sell. IF on the other hand, they find the steal of the century that fits into their plans...that can provide a reason to sell when they least expect it!

Alameda, bless it's big heart but small space, may demand some serious patience for those looking for the right place, right floor plan, right potential, right price (any order you like - see last week's blog post).

If my own business is indicative of what is going on in the market place, there are listings in process, prepping for market. We just haven't seen them yet.

Buyers, I can tell you this. There is nothing more a seller wants than to have a well-prepped buyer make a realistic offer on their property. And Sellers, I can tell you this,. There is nothing more a buyer wants than to see their idea of the perfect place, that is also priced right. Then we have a match made in heaven!

ALAMEDA REAL ESTATE THIS WEEK...
My listing at 325 Laguna Vista closed this week for 465K on an original 500K list price. It should have closed for 485K months ago when exactly that offer was received only two weeks into the marketing of the property. But often many things need to align. And finally they did, on both the buyer and seller sides.

OPEN HOUSES THIS WEEKEND (courtesy of Island Blog)

Unsold inventory this week 175, 178 last report
Pending inventory this week 93, 92 last report

Broker Tour - only 3 on the tour this week, 1 was a repeat.

Highest and Lowest priced NEW listings this week.

New 10

BOM Back on Market 2

Price changes 14

Pending 15

Sold 9

Expired 2

Withdrawn/canceled 3

ALAMEDA REAL ESTATE AWARDS THIS WEEK....remember this is only my perspective and this week, ah, not so much.

Have a great weekend! Enjoy the cool down with clear skies! Carry on! Make it work! Smile....

best, marilyn

Potential, floor plan, added value - what's best?

2011-03-25T01:00:00.000-07:00

Blog photo: It's been so wet for so long (clearly the lament of one who does not live in Oregon or Washington) I decided to liven it up with a nice photo of Dale Chihuly glass. This was at an installation at the DeYoung a couple of years ago. It's the way I'd love to think the best underwater coral reefs look! Kind of a watery storybook! What was so cool was they encouraged us to take photos. But I didn't know how to set my camera for dark indoors and one of the museum guards came right over and set it for me! That rocked!

Blog post: I read so many trade blasts online combined with my hard copy trade journals it all just runs together. But something this week hit me (not a car) as I was riding my bike on the broker tour. It was triggered by a merge of something I read, with some properties I saw on the tour. The result illustrated potential, floor plan, and added value perfectly.

Potential- 2212 San Jose is a complete fixer and is nothing but potential. What's potential? In this case it's the ability to see through a mess, see how the space can work for today's life styles, perhaps maximizing the high basement when the foundation gets redone by lifting the house or digging down for ceiling height, maybe pushing out the back and adding a great kitchen/family room, master suite, gosh who knows? But it's raw and ready. Something like this may easily call for an all cash buyer and that buyer needs access to a bucket of cash to get the rest of the work done, whether sooner or later. Of course the nature of this project means it has to be discounted to a price worthy of someone who can put all the pieces back to together again.

Floor plan- I won't put the link to the house I'm thinking of. The limited photos don't give any indication of how it flows, and of course there is not a virtual tour. Heaven forbid if more agents actually paid a few bucks to have some simple floor plans done by local appraisers. Isn't that something that's helpful to you when you are house surfing? (Shameless Self-Promotion Moment - all my listing have floor plans). Sure, the house is charming. It also needs a foundation, doesn't have any off street parking and no chance of ever getting it the way it sits on a small lot, needs an updated kitchen, and the bathroom is tucked into the larger bedroom so must be traversed to use the full bath. Awkward. Minimal potential here, and that limits the buyer pool! This absolutely needs to be priced sharp in order for these objections to be overcome. This buyer also needs a bucket of money to whip it into shape. But what do I know...

Value added - 1231 Court has an interesting history. It's been nice all along. I've seen it on the market at least 4 if not 5 times during my time in Alameda real estate. In 1/2002 it sold for 405K. In 9/2006 it sold for 660K. In 4/2008 it sold for 630K. Now it's on the market for 689K. BUT it's gone from being a 2/1 to being a 3/2 with a total of 1924 square feet. These folks did a great job of creating wonderful living space in the high basement. Now that won't help the super-dinky lot and minimal yard. And they didn't expect to sell so soon. But these folks saw the potential and worked it in such a way that it will appeal to a larger buyer pool!

So in answer to the question....what's best depends on you! It can be any or all of those things.

Sometimes all three mesh together. We had that happen when we bought the place we've been in since 1988. The basic floor plan worked for us. It had potential in the high basement and the foundation needed to be done anyway. We created needed two bedrooms a laundry/utility room and a full bath. And the price worked for us. And since the dumb sellers didn't get any pre-sale inspections, we were able to factor some of the price of a new foundation and an immediate roof into our price.

Just be sure you think all these things through...and plan on staying in it for eight years. That's the number I"m telling folks these days.

Quick Glimpses-
What's real vs nominal house price growth? I got this from a post my bro in Washington put on his FaceBook wall today.
Shadow inventory - where is it?

ALAMEDA REAL ESTATE THIS WEEK...
My listing at 1808 Main Street, the small 1/1 single level stock co-op unit, has a HUGE price reduction. It was 189K and now it's 149K.

OPEN HOUSES - Island Blog is on vacation this week....gotta go back to the Friday Alameda Journal!

Unsold inventory this week 178, 179 last report
Pending inventory this week 92, 90 last report

Broker Tour 7

Highest and Lowest Priced NEW Listings this week

New 9

BOM back on market 2

Repositioned properties (price changes) 8

Pending 15

Sold 9

Expired 0

Withdrawn/canceled 2

ALAMEDA REAL ESTATE AWARDS THIS WEEK...remember this is only my perspective.
Got me a makeover

That's it for now! Carry on! Make it work! Have a great weekend, rain or shine! marilyn

Midst the world turmoil....a first rose.

2011-03-18T00:51:00.000-07:00

Blog photo and post: I took this photo today at my client's house. It was such a lovely reminder of the simple things: beauty, calm, refreshment, peace, sunshine, spring renewal. He said he'd like me to take it. Absolutely not! It deserved to be right there, in its perfect setting. The roses in our yard have lots of buds but no blooms yet.

Many of you know my daughter and her Kiwi husband were right smack in the middle of the Christchurch, New Zealand earthquake just under a month ago. They are fine....and figuring out next steps. Her blog (side bar bottom to the right) has had some lovely insights, as has her FaceBook wall. They have readily admitted that their experience, as awful as it was, was a cake walk compared to the events in Japan. For them, though, the recurring theme for life is 'normal'. Looking for normal. And relishing it when it appears. And the rose reminded me of all that.

Now....that being said with the events of exactly one week ago in Japan, please take some time to get your earthquake preparedness kits together. Here is a terrific guide for what to get together 72 Hours.org That's how long 'they' say you should prep for having nothing.

Protect your home...it's required now when you sell a property in town...why wait. Have a gas shut off valve installed now. It shuts off gas at the meter based on vibrations. Avoid a fire! If you need vendor names, let me know. Expect to pay under $500.

Most of us don't carry earthquake insurance...too expensive and the deductible is a killer(15-20% of the value insured) . If there is anyway you can swing it....have some engineered seismic protection done under your house....shear wall panels, strong ties that hold the building corners together, and extra foundation bolting. Let me know if you need engineer referrals and contractor referrals.

If you have a garage under a living space, it is a very susceptible place for structural collapse. Often we see bedrooms over the garage. Few existing homes have seismic reinforcing. None of this costs a fortune. I expect you'll even get a discount on your insurance for having them.

Don't be surprised when insurance companies start upping the rates if you don't have these, or start to require them in order to get insurance.

A friend and I were talking about where to put our earthquake kits so we can get to them? What if they are buried in the room they were in? Not so good. Another friend suggested water and air tight plastic 'tuff-stuff' type bins set in a corner of the lot/patio/yard where it will have a better chance of surviving. Do you lock it? What if you don't have access to the key? Snap it shut and forget about it.

And what about food? A local Boy Scout troop is selling MREs (meals ready to eat) as a fund raiser. I'm going to order two packages of the things. Better those than nothing at all, and I'd rather give to others than take from others.

AND many of the troop members have completed the Community Emergency Response Team training (CERTs). We have some CERTs folks in our neighborhood watch group.

That's another winner....organize a neighborhood watch. Everybody wins. After decades of being the point person for ours (Watch Captain), we are the most organized we've ever been and have more members than ever. Everybody opted in for our shared spreadsheet of contacts. It took weeks to do but I got it done and feel much relieved about it. Call the Alameda Police and arrange a meeting for even just a few of you!

Quick Glimpses:
State stats for CA.
Help your folks when they are considering a reverse mortgage.
Don't let the banks and attorneys general speed through their 'fixes' - more morons

ALAMEDA REAL ESTATE THIS WEEK...
OPEN HOMES THIS WEEKEND (courtesy of Island Blog)

Unsold inventory this week 179, 176 last report
Pending inventory this week 90, 87 last report

Broker Tour 12 with 3 repeats

Highest and lowest priced NEW listings

New 11

BOM Back on market 0

Repositioned properties (price changes) 13

Pending 15

Sold 9

Expired 0

Withdrawn/canceled 4

ALAMEDA REAL ESTATE AWARDS THIS WEEK...
Get Me to Rehab! a 5 way tie!
Winner, Out of Rehab (Tough being on narrow, busy street with no garage) but it sure looks good. This is a flip that took too long and prices have come down since it was purchased. So they are losing on this one but have done better on others. It's a regular sale, not short.)

That's it! A wrap! Carry on! Be well! Take time to smell the roses!

best, marilyn

PS And to the unknown-to-me reader who did lots of homework looking for solid Alameda real estate info and have been following my blog, thank you for sharing the results of your research with your friends. They contacted me and said you said it was the best source you've found and that you are super detail oriented. And they started reading. Thanks! I hope to continue to earn that compliment! We meet Friday!

Am I ranting? Ignore it.....pray for those involved in the huge earthquake in Japan.

2011-03-10T23:49:00.000-08:00

Blog Photo: Alameda's wild life in bird form. She's a beauty! But when our flocks of Canada Geese get to be too comfortable, specially trained and approved dogs come out to the golf course with their master/mistress and run in pure joy as they quietly chase the geese off the traffic areas of the course.

Blog post: A few random questions that have come to mind about our local attributes, our local real estate market, and the big picture in the US.

1.Will buyers who have been waiting to see if Measure A passed, now jump into the market? The passage of the parcel tax last Tuesday may bring some more folks into the market from other areas because our schools are getting big time assistance from the community. We'll see. If those buyers have income security, can stand the process of jumping through many incredibly small and tight financing hoops, can translate the higher cost of obtaining a mortgage into a long term benefit, they may be entering the perfect storm for home buying.

2. Are you thinking about how much money you are spending operating your car for short hops around town? Are you consolidating even more of your trips? Going to the corner grocery store for the small stuff? I see so many more folks, all ages, riding bikes all over town. They've got baskets, side bags, big backpacks, and trailers for toting and hauling their stuff. Alameda is really quite exceptional for having small, local stores and shopping districts, flat land, okay streets (don't get me going on how bad they are for cyclists), bike paths, and great scenery! People are riding on errands, to work, to restaurants, to the movies, and just enjoying the scenery through the town and around the perimeter!

3. Are you thinking about downsizing and rightsizing more these days? Not just with housing but are you off loading stuff you just don't need or use any more? Join the crowd.

4. Where's the bottom of the market? It's the place where more buyers are jumping to buy the best priced properties.

5. Without giving any specifics...if my clients get an accepted offer by the short-sale seller, anybody want to hazard a guess as to how long the two lenders will take to respond to the offer? How about giving any odds that the lenders will even approve the short sale? I told my clients to take an extended trip to Europe while they're waiting to hear anything.

6. When the employment stats start to improve, how much time do you think the lending underwriters will require for time on a new job? 1 year, 2 years, 3 years? Anybody thinking about how that will affect the market?

7. Are you feeling sorry yet for the banks that made these garbage loans? The guy who produced the Oscar winning documentary the Inside Job got it right. How come none of the financial wizards on Wall Street and the big bank boys and girls aren't being tried for stealing by the government? Oh that's right....some of those folks were IN the government having left Wall Street while the mess was getting cooking. It's not like we don't know who they are! When we had the savings and loan melt down in the late 1980's bank CEOs were being hauled off to jail!

8. Here's another good read while you relax on a local park bench, taking a break from your bike ride, or enjoying a beverage along the beach. I read The Big Short by Michael Lewis in just a few days when I was last in Maui. This is about how some individual Wall Street warriors figured out how to bet against the big time investors who were creating all those derivitives and mortgage backed securities.

9. How's all that stimulus money pumped into the economy working out for you? Hhhmm. I'm not seeing it so much. I have to agree with Arianna Huffington of the Huffington Post who spoke Tuesday night at the Oakland Speakers Series....what's right or left about getting the roads fixed in America? My friend took these two notes:

10. Speaking of Huffington, my friend shared two notes she took during the talk...
"Failure isn't the opposite of success just a stepping stone to success." When are we going to teach our kids that? What is with the continual 'everybody wins an award' syndrome that is droning on and on. We are creating a world of wimps. And let's put this to bed Arianna's remark "Journalism should be biopsies not autopsies."   amen.

Quick glimpses:Here's a really good article about first time buyers and what they are facing.
New Rules for First Time Buyers.

ALAMEDA REAL ESTATE THIS WEEK...

OPEN HOMES THIS WEEKEND courtesy of Island Blog

After years of trying to sell this unusual property aka The Webster House. sometimes for millions of dollars...looks what's on the market as a bank repo for 599.9K.

These got caught up in the market downturn... the biz condos at the Harbor Bay Business Park...across from the shoreline park. Been on the market for over either side of a year, was 720K now 520K. These are actually very nice....and I think in the long run will be a great investment....get it...the long run. There are such solid businesses out there now....it's all good.

Unsold inventory this week 176, 176 last report

Pending inventory this week 87, 81 last report

Broker tour... 13 with 4 repeats.

Priced right homes have sold in less than a week....and the buyers are winning if they understand the values.

Highest and lowest priced NEW listings....well, the high priced one has been on and off the market for 3 years. But it's been off for a while and now I'll include it here. The low priced listing....well if this is the best photo to offer, I wonder about the rest.

New 10

Back on market 2

Repositioned properties (price changes) 16

Pending 18

Sold 6

Market rejected (expired) 1

Withdrawn/canceled 4

ALAMEDA REAL ESTATE AWARDS THIS WEEK...remember this is my perspective only

None this week.

PLEASE....get some earthquake preparedness kits ready for your car, and your house. A friend told me this week he was going to set up a small plastic (weather tight) storage bin, cubby, closet, or shed in his back yard in a relatively open corner to keep all kinds of supplies, tools, blankets, water, etc. That sounds good to me.

That's a wrap. Give thanks, say your prayers, be smart and safe.

best, marilyn

The value of hindsight as we forge blindly into foresight....

2011-03-03T23:56:00.000-08:00

Blog photo: This was taken last Friday evening on a 'gotta get outta the house' bike ride...about 5:30pm. There was quite a community of fishers at the rock jetty just west of Crown Harbor Beach. The the birds were hovering for handouts.

Blog post: A number of weeks ago I met with a lovely and completely young-at-heart woman who is/was considering selling her house. She bought it seven years ago. Suffice it to say she was talked into it by folks she trusted (don't get me going on this or I'll have to find people to slap). Yes, they wanted the best for her by getting her out of Oakland. And yes, she fell in love with the house she bought in Alameda. She still loves it. It makes her really happy! But some things have changed for her and moving seems to her the best choice.

More details can help. It's very old. She put a lot of money down and a lot of money into electrical and plumbing systems, and a recent total roof replacement. All work was done by reputable vendors. AND It has a brick foundation. AND it doesn't have off-street parking. Her most trusted adviser told her not to worry about any of that. That's the guy I want to super slap. He left the state. I think he died. The mortgage broker 'friend' died. The agent who was the wife of the mortgage broker sold her own place and she's gone.

Here's where I think my job comes in. Can we talk about alternatives? Rent the place? Come back to it before it gets converted by tax law into an income property with the associated tax ramifications? Can it cash flow...no. Can you stay....maybe. Are you comfortable with the payments...no. Maybe a roommate....no. Do I think the price will get back up over the price you paid for it....yes, when people have secure and consistent employment and demand out paces supply. When is that...longer than you want to hear.

The MLS data is invaluable for placing the pieces of the pie together. The marketing history detail provides the back-story of hindsight as we are trying to forge blindly into foresight. We can go back more than 10 years and see what has happened to properties that were sold or NOT sold because the market rejected them. Many local real estate pros and knowledgeable market-watchers know properties around town that have been on and off the market with no sale for 3-10 years!

Like the savings and loan mess in the early 1990's when I did my first short sales, once we knew when the owners bought a place, we could pretty much tell them what it was worth without seeing it. That's pretty much how it is now. Yes, we do need to see it. And yes some of the upgrades will help the sale...maybe not by increasing the price a whole lot...but they may assist by reducing the days on the market and encouraging more buyers to jump into the buyer pool.

Back to our story. Similarly aged properties within several blocks and with some similar conditions have closed since our first meeting. That's good. But they've closed because the prices, whether the properties be bank-owned or successfully negotiated short sales or non-distressed sales, have come down to where the market chose to partake of the offerings! And with the closed sales since we first met, we see the value on the house is not nearly as strong as it seemed.

"But that's not what you told me before!" That's right. Nobody had that data yet. Nobody. Some places on the market for many months finally came down in price enough to go pending. Some of those have now closed. Others have been presented and priced well and gone pending quickly and will close shortly or have already closed.

Here's the deal. Nobody knew the market would be going backwards seven years after she bought it. And nobody that age should have been talked into carrying a mortgage that sucks up the income. The money spent is irretrievable. The loan is basically okay...but the value of the property is not.

Not easy to hear, is it? And trust me, it's not easy to say. But it's worse to mislead someone. I'd rather not get the job than to be the one who implies profits that may not exist.

ALAMEDA REAL ESTATE THIS WEEK...
The listing at 325 Laguna Vista went pending last Saturday.
Lots of price changes this week.

OPEN HOMES THIS WEEKEND (courtesy Island Blog)
My listing at 108 B Cypress is open Sunday 2-4pm.

Unsold inventory this week 176, 186 last report
Pending inventory this week 81, 78 last report

Broker tour 10 w/ 1 repeat...all 94501. A wonderful bike ride again!

Highest and Lowest priced NEW listings

New 12

BOM back on market 5

Repositioned properties (price changes) 18

Pending 15

Sold 6

Market rejected properties (expired) 12

Withdrawn/canceled

ALAMEDA REAL ESTATE AWARDS THIS WEEK...remember this is only my perspective!

Winner

Get me to rehab

THAT'S A WRAP! CARRY ON! THE SHREDDING PARTY WAS A GREAT SUCCESS AND WE HAD COLD BUT CLEAR WEATHER! THE ALAMEDA BOYS AND GIRLS CLUB WILL BE GETTING A CHECK FROM THE SHREDDERS FOR $200.

BEST, MARILYN

Shredding and shaking it up!

2011-02-24T22:38:00.000-08:00

First! The Shredding part....bring it all on! It's free! Rain, sleet, or snow it's happening! I've had a sweatshirt made to remind people to remind me of who they are. It's tough to remember when I don't see everybody all the time, so be forewarned.

Second! The Shaking part...most of you know my daughter Sutter and her husband Sean (fondly referred to by me as S&S) live in Christchurch, New Zealand. You may not know there was a super huge (6.3) but very shallow (makes it worse) earthquake there earlier this week. They are fine, together, and cleaning up. Power was restored to the house they rent this afternoon but water - well that becomes priceless unless you have generous friends! And they do!

Christchurch (ChCh) is a mess and it's tough because clothes and food aren't needed. What's needed is a whole new infrastructure that is more seismic tolerant, including sewer systems. ChCh will never be the same. But the essence and incredible land that New Zealand is will remain.

Now back home. As far as Alameda's infrastructure, our bridges have had some updating and it continues. The tube(s) are getting seismic work done. Our main island sewage system needs a total overhaul. 'They' say our gas pipe lines are okay. Huge,diseased trees need to be taken down before they kill people and destroy property. And last but not least....we need an emergency pumping system that gets water from the bay to all parts of Alameda if we become a real island, with no access. Berkeley and Oakland have pumping systems for their flat lands. What is the plan for A-town?

Shake Quake Practical Knowledge (now that we've been through this drill twice since September):

-communication tips: Skype is free when used computer to computer. But for a lot less money than cell to cell we've been talking my computer to her cell. And Facebook - if you hate it for the daily trivial dribble, you may change your mind if you want to get word out quickly about your well-being, or your family's well-being.

-share your itinerary with lots of people: I could not believe when I got a call this week from a woman who had just gotten back into the US from Mexico and had no clue where in NZ her fly-fishing husband was. It turns out the guy was supposed to hook up with S&S and she thought it was last weekend. That, I could tell her, was not the case. Mutual friends gave her my number to see if he could be traced down. Tough to do when cell connections are clogged or you didn't figure to get international cell service or didn't have a written idea of where your loved one was....c'mon. Really. REALLY. Turns out S&S were expecting him this weekend. I encouraged the wife to redirect him.

-add to your own earthquake preparedness box, bag, or whatever: Sutter and I have shared ideas on what we want now that we know what she knows. I'm making a big assumption you've done the basics like water and some food and blankets and tools, walking shoes, and first aid kits for each car and house.
-a gas can to share fuel with others, get some for your car, or take with you when you finally get to the front of the line after 5 hours of waiting - hey remember the 70's rationing lines?
-water containers in 2 gallon sizes so you carry them yourself if your don't have a beast of burden.
-work gloves to remove things that have fallen in your way or on your car, like the bricks from your chimney.
-a filled propane tank. Don't have a grill? Contribute it to your neighbors who are letting you use theirs.
-baby wipes. Don't have a baby? Don't have water? Want to get refreshed? I just bought a huge box of smaller boxes with 900 of the things from Costco today.
-waterless hand sanitizer. Get it? Waterless.
-pocket knife or multi-tool knives.
-serious cash on hand stashed away but accessible. Your ATM and credit cards don't work w/o power.

Here's the bottom line. You know you'd be willing to pay a thousand bucks for a way to get water, food, and warmth for your family. For a couple hundred you can have them all ready and waiting, and not live a life of dependency or worry. I don't know about you but I'd rather be able to give than to take. If we did that we could help more people and be happier campers if it gets to that point. They say to plan to be on your own for 72 hours. I need to get working on this even more. Oh, have a neighbor or friends who own a motor coach. Good for emergencies.

Alameda real estate this week...
Well, it's not Alameda, but my client's folks' home of 60 years at 16640 Cumora in San Lorenzo closed this week. A young guy bought his first house and the cycle begins again. Everybody seems happy. 310K w/ 10K back to the buyer for closing costs, FHA financing...a rather remarkable transaction in that it was beautifully smooth. It helps when all the parties know what they are doing...and the house was really lovely.

The open house I had last Sunday at 325 Laguna Vista was super busy....serious lookers, great questions, lots of down-sizers considering single level options. Seller got an offer today. We'll see what happens.

Open homes this weekend (courtesy Island Blog)

Unsold listings this week 186, 190 last report
Pending listings this week 78, 68 last report

Tuesday tour - 10, 8 were in 94502. A great bike ride day!

Highest and Lowest Priced new listings

New 10

Back on Market (BOM) 0

Repositioned properties (price changes) 18

Pending 17

Sold 5

Market rejected properties 2

Withdrawn/canceled

Alameda real estate awards this week....remember this is only my perspective!
Winner
everything has been redone...and the hidden spaces have been maximized (like a 2nd bedroom twin bed that can slide into a attic space via a wall hatch when it's not needed).
Cute,charming

933 Shoreline #306 will be open this Sunday from 2-4pm!

Have a great weekend! Shred on! best, marilyn

Oh, so close. The Buyer just walked away. Bummer. You just bought the house back.

2011-02-17T20:33:00.001-08:00

You may not have liked them, may not have voted for most of them, but ya gotta love the system that allows us to elect 'em! It's President's weekend. Fly a flag!

REMINDER

Marilyn Schumacher's 5th Annual Shredding Party!

Saturday, February 26, 9am - noon!

This is my gift to my clients, friends, and neighbors!

Bring your bags and boxes - no cost to you!

Most of you should have received details by now but call if you have questions!

Blog post: The goal in a negotiation is to keep the door open, keep the conversation running. That's not always possible when folks won't budge. But keep the goal in mind. One side wants to sell , the other wants to buy. What will it take?

Here's the second story....The parties are close on price. The counter-offer that received no response from the buyer is now the price the seller just bought it back for. Mr./Ms. Seller decided it was worth that much and he/she was the only one who thought so. Thus he/she bought it. Not so good. Very humbling. And it's lousy to hear about it that way from your agent/broker who may have lived, survived, even thrived, through numerous down, downer, and way-down markets. Motivation....yeah, that's the ticket.

Alameda real estate this week...

OPEN HOUSES this weekend, courtesy of Island Blog.

Unsold listings this week 190, 191 last report.

Pending listings this week 68, 63 last report.

Tuesday Tour this week 4 with 1 repeat. Not a good day for a bike ride :-(

Highest and lowest priced NEW listings this week.

New 12

Back on Market 1

Repositioned properties (price changes) 14

Alameda real estate awards this week....

Only 1....Winner The lead photo looks like a standard tract house. Not so much. The lower level...striking!

Have a good weekend! Stay warm! Fly an American flag, if you've got one!

Have market questions, need vendors? Give a call.

That's a wrap! Carry on! best, marilyn

ps! If you want to be notified when a post is made...subscribe at the top of the blog....makes it easy! Or let me know you'd like to be on the email blast I send out BCC to folks.

Be prepared or be prepared to park it....the balancing act.

2011-02-10T22:53:00.000-08:00

MARILYN SCHUMACHER'S
5TH ANNUAL SHREDDING PARTY!

SAT. FEB 26TH 9-NOON!

IT'S MY TREAT TO MY CLIENTS, FRIENDS, NEIGHBORS!
you'll be getting details via email if you are in those groups!

Note! To make me smarter I've been getting one-on-one social networking and blog tutoring the past week. The friend/fan Facebook gadget is gone, replaced with an easier 'subscribe via email' on the upper right of the blog. Those of you who are on my weekly blast list will still get that! This is for those who don't want to remember to check in. Trust me, I am not interested in finding out who you are....just want you to have the info if there is some value to you!

OPEN HOMES this weekend, courtesy of Island Blog. For the most accurate list you need to get to Friday's Alameda Journal. One of these days they'll all be online....

Blog photo: We've had an abundance of fabulous sunsets with crystal clear skies this January and February. I took this on Feb 8th. When I saw what I called the Zorro sky, I hustled home, grabbed my real camera and started shooting.

Blog boost! SFGate had a wonderful Alameda article this past week "An island of affordability and diversity".

Blog post: How do you price? How much work do you do to get a property ready for sale? It's a bit like tightrope walking I suppose. Price too high or do too much, no action an/or no return. Price too low or do too little, maybe lots of action but maybe also fewer buyers who have the cash and skills to fix up a place.

Once it is determined where a property actually fits in the marketplace, then it's time to determine what needs to be done. In a market like this (flat and maybe going down, see link below), pricing slightly below market will have other properties pointing at yours. And chances are good that you'll take less of a hit upfront by pricing aggressively versus following the leaders down the price reduction road.

Presenting an immaculate property gives the impression somebody has cared, and attracts a larger portion of the buyer pool. The emotion of walking into a well-presented property may be enough that buyers will be willing to take work on they had not previously considered. But still it has to be priced right. And being the best on the block is not always the the best for a seller.

If a property has been ignored for decades an/or has been beat up for whatever reasons, the buyer pool automatically shrinks and in this market, the people who have cash want to know they are getting a deal.

There is a fine line between making it work for the buyers in any niche and overdoing it. Getting deferred maintenance done before going to market does keep folks interested once it's on the market. But guess what? What you spend is rarely recoverable in dollars. Face it. The market doesn't care what you want or how much what you did cost.

Folks, I'll say it again. Buyers don't care what you want. They only care about what they can get. This is the time for big reality checks. And if you don't have to move right now, then park it for a while longer.

Give a call or email if you have specific questions....I can't promise a quick answer but I'll see what I can come up with.

Quick glimpses:
Wall Street Journal
Across the Board...go to 2003 and today's values may be the same.
SFGate
Home prices to hit bottom this year?

ALAMEDA REAL ESTATE THIS WEEK...
Update on a couple of my listings: Last Friday I put 933 Shoreline #306 on the market. It's a new old listing. I had it on the market last year for 420K. Now it's 400K. The Sellers decided to rent it for a while and now that's over and done with. This complex has full bay views from every unit. Every condo has the same floor plan: 2 bedrooms and 2 bathrooms. Every condo comes with an in-unit laundry, and unless it's been changed out, a click-on gas fireplace. And every condo has a detached, single car, deeded garage. All these items in one condo/one complex...hard to find in A-town.

305 Court Street has a price change...oops I mean has been repositioned. Now 569K down from 585K which was down from 600K. (note my recommendation for the original list price was 585K.)

Unsold listings this week 191, 188 last report

Pending listings this week 63, 58 last report

Tuesday tour....12 with 2 repeats. I didn't see everything because I hosted 933 Shoreline #306 open. Note is another condo in the same complex at 1001 Shoreline #301 that also came on the market this week - it's listed for 429K.

Highest and Lowest NEW listings this week

New 14

BOM back on market 2

Repositioned properties (price changes) 19

Pending 14

Sold 7

Market rejected (expired) 1

Withdrawn/canceled 4

ALAMEDA REAL ESTATE AWARDS THIS WEEK...

Winner of the week...this is the perfect example of what I wrote about in this post....attractive price, condition, prep, location

Get me to rehab.this is the perfect example of what I wrote about in this post...unattractive price, poor condition, no prep, fine location.

That's a wrap! Start boxing your stuff for the shredding party! Save some money (it's my treat for clients, friends and neighbors!)...Save some trees, save some dollars, come for a doughnut and juice!

Have a great weekend....305 Court Street will be open 2-4 on Sunday.

best! marilyn

On hold....

2011-02-03T23:28:00.000-08:00

Open homes this weekend courtesy Island Blog. I expect there are more but this is a new feature for the Island Blog and not all the sources may know this is theirs to use! Alameda Journal has the best list, but not digital, at least not that I can find. If you have a good Alameda open house link source, let me know please!.

Blog Photo: Taken Thurs. Feb 3 on my iphone at the bird preserve dock/deck, near foot of Shoreline at Broadway. Wish I had my regular camera. I have never seen such a bright and deep orange-pink sky. Ever. And this shot does Mother Nature no justice!

Blog post: Discussion is heating up about Measure A, the new proposed parcel tax for property owners in Alameda. How does that affect the market right now? I asked the staff at our office meeting on Wednesday if they'd heard or knew of any buyer action/reaction to the measure. And I've asked various agents around town for their experiences.

Several at our weekly meeting volunteered that they have clients they have already lost to Emeryville (yep!), El Cerrito, and Albany due to schools being more surely funded. Agents who have clients in the higher end have been showing more property around Rock Ridge and Claremont in Oakland (which I don't get since those have Oakland public schools, making Alameda look much better on all fronts), and that the higher end folks are now looking at low-end Piedmont properties.

It appears that the demographic that is concerned about schools is in a holding pattern until the results of Measure A are known. Agents have said to me they have clients who will drop Alameda from any further searches if the parcel tax doesn't pass.

What's it mean? It means buyers want some commitment from the community for their schools. It also means that those buyers are less concerned about inheriting that additional tax on their bill, than they are about the quality of schools. It means we are all in this together and if we don't think it affects all of us we are blind to reality.

As I said at an Alameda Association of Realtors meeting on Wednesday, I hate the mess the state is in. I think the public school system in the state sucks (too blunt for you?). The state has broken every law, rule, and commitment there is to fund the schools as required and it's stolen incredible amounts from every school district.

I also said that our kids deserve quality education. And at this time the parcel tax method is the most common way to make up the deficits created by the state for many years running. I don't like paying these things. But I vote for them. Because I also know that a strong school system pulls in diverse and dedicated families trying to find the best for their kids. And that makes for a better community all around.

The education in the nation is a royal mess. Maybe sometime I'll expound on that. But if we don't educate these kids, and get it right....starting right now by raising expectations of parents and kids and teachers and all the local residents, the future indeed is dim for all of us.

Never has there been more opportunity to completely revamp almost all of our systems, including education. Now is the moment and we'd better not lose it, regardless of whether Measure A passes or not. And revamping, in my book, means finding ways for ALL community members to participate in making schools a success, not just property owners. Since the state has broken the rules and has no intention of mending them, it's best we come up with ways to augment what we get, and make it work. Thus, throw the old rules out, and let's start getting creative with some new ones for funding on local levels. We can learn a lot from economies of scale. The more we have participating, the less it hurts the pocketbook. We have a choice, but in the long run...not much.

Quick glimpses:
CNN Market to be flat in 2011
NY Times: Curbing closing costs
The Wall Street Journal:Boom gains all gone.

Alameda market stats ...
...for all residential properties, all prices, all types (condo, townhome, single family) for the last quarter of 2010. Jan 2011 hasn't been generated quite yet....another week or so. But even though the parameters are broad, you'll get an idea of what is going on! Thanks to Harbor Bay Realty for providing this service to its agents! If you'd like a more custom made result for a specific price range and type of property, let me know.

ALAMEDA REAL ESTATE THIS WEEK...

Unsold listings this week 188, 190 last report
Pending listings this week 58, 54 last report

Tues tour 6 with 1 repeat

Highest and Lowest priced NEW listings this week

New 12

BOM Back on Market 2

Repositioned (price changes) 10

Pending 12

Sold 6

Market rejected (expired) 5

Withdrawn/canceled 2

ALAMEDA REAL ESTATE AWARDS THIS WEEK
Winner and Cute/Charming

For my clients and friends!

Marilyn Schumacher's 5th Annual SHREDDING PARTY

More details will be emailed and mailed.

No cost to you so bring your bags and boxes of papers and watch them turn to bitty pieces on site!

This is my gift to the wonderful people in my life!

THAT'S A WRAP! CARRY ON! MAKE IT WORK! Contact me if you need vendor referrals. I may be able to help.

best, marilyn

Shameless self-promotion....in two ways....new blog and my clients successes with Alameda's amnesty program.

2011-01-27T23:52:00.000-08:00

Open homes this weekend courtesy of The Island Blog

Blog photo: First I'm so glad that Google Blogger figured out the glitch in their photo header system! There were a number of complaints on their site. And to my surprise, when I clicked in just now...last week's mini-photo was full size! YAY!

Alameda has such great windows, including those that are painted as exterior murals! This is next to the front door at Garden Cleaners on Webster. On the Haight St. side of their business they have a full wall mural, which I've as a blog photo before. Paint and talent and taste....that's all it takes, eh?

Blog post(s): This week I've decided to use a link to what I wrote last Friday in a 'for-fun' blog I started when in hibernation from The Second Story last December (which is an annual ritual). That blog is called Inside Out - one boomer chick's take on life. After posting it, I realized I could have written it for The Second Story since it does deal with the concept of having a second or third set of eyes reviewing procedures and/or documents that we routinely accept as current, such as all kinds of insurance, and tax returns. Please take a moment to read it. Nobody should have to find out about tax issues the way my clients (and dear friends) did.

And more self-promotion - if you are interested in getting an email blast when a new post goes on Inside Out, let me know and I'll BCC you just like I do with the folks who have opted in to get a notification that The Second Story has a new post.

Alameda's Amnesty Program: A number of years ago the city introduced a program that would help property owners who had illegal units, get them legalized when possible, based on numerous criteria: how long the unit had been in use, how many gas and/or electric meters were on site, records of rents received, photos of how the property had been used over the decades (which could show when/how changes were made), and Alameda county records which OFTEN show conflicting information to the city of Alameda's documentation.

Meant at first for units, it now includes non-permitted work for almost anything - kitchens, bathrooms, windows, additions, detached garages, converted garages, electrical, plumbing - you name it.

I'll give you a case close to home. Our home. When we bought it the owners had added an attached enclosed room for a spa. No permits. We knew it. About 11 years ago we discovered that more than the stairs were rotted...it extended into the whole structure. That was my chance to get the thing into the Amnesty Program, so we could pull permits for the corrective work. I'd guided clients through legalization of projects before so I knew it was a good thing.

We put together an application package with all the right documentation. YAY! Well, it became BOO-HOO because the way it was built, it violated side yard set-backs and that couldn't be allowed. Denied. The contractor tried every which way possible to get it to work and my husband did the drawings but no luck. But we liked what we had and wanted to keep it. Because we had come forward with this problem voluntarily, we did not suffer any penalty fees that are so prevalent today when the city comes across or finds out about unpermitted work. We pulled a full permit, knocked the thing down and rebuilt properly.

In the past two years I've helped at least 6 Sellers by presenting this process as an alternative to facing extreme fees should the property go on the market and it gets anonymously reported to the city as a code compliance complaint. When owners come forward there is still the application to do, the package to put together, and a city inspection to go through regarding health and safety issues that need to be addressed. There will be corrective work in many cases. I've had examples of no corrective work required at all, and then lots of it when it was done by rip-off contractors who did the first installation.

Getting it right will cost some money. But it will help reduce the time on the market as long as the list price is accurate. The buyers gain confidence in what they are purchasing. And who wants a lawsuit after the fact, anyway?

The biggest problems buyers face today is with short sales and REOs (real estate owned by the banks), Probate, and Trust sales because they are almost always sold AS IS.

If this is something you may be facing, check it out. You may not like it. But it may save you some serious money in fine and fees. Plus it may make a property that still has equity more saleable. If you have questions, send me an email or give a call. Oops! That was another shameless self-promotion.

-This promotion is for my clients and friends! See the announcement at the end of the post about the 5th Annual Shredding Party!

Alameda real estate this week....
My client's in-the-family-property-forever, the massive lot with the huge fixer duplex, closed last Monday. 505 Pacific closed in 10 days, after a review of 12 offers (8 of which were all cash), for 400K on a 350K list price. I think it may have been the quickest close I've been a party to. The buyer accepted responsibility for the sewer lateral, gas shut off valve, and the almost $3700 city fees to finalize the Amnesty permit the Seller obtained in order to have it recognized as a legal duplex on city records.

Unsold listings this week 190, 192 last report

Pending listings this week 54, 55 last report

Tuesday tour tour 12 with 1 repeat.

Highest and lowest priced NEW listings this week

New 1

BOM (back on market) 1

Repositioned properties (price changes) 14

Pending 12

Sold 10

Market-rejected properties (expired) 2

Withdrawn/canceled 2

Alameda real estate awards this week....

Winner (big, newer, good floor plan if you have in-laws or extended family, and a home office AND want space!

Cute/charming (I had this listed in 2000 and it sold for 370K on a 335K list price....very original and needed a foundation and clean-up. Next owner put the foundation in and did major work and they sold it for 510K on a list price of 485K in 2002. Currently, the owners have done more work and it's on the market for 569K

Get me to rehab

That's a wrap. Carry on! For my clients and friends... The 5th Annual Shredding Party is Feb. 26, Sat 9am-noon! Look for an email blast from me as well as a postcard! Get ready to bring that stuff! No charge! My gift to my clients and friends!

best, marilyn

What goes around come around...

2011-01-20T23:44:00.000-08:00

Blog photo and post: (first, I can't explain why my photo in the header is so small. The past weeks it's been loading huge and I've had to resize it. Now it's just the opposite and resizing doesn't work. If anybody has a clue for me I'd love it!).

The state mandated disclosure law showed up just after I started the business in 1986. And since then it's been the basis of making Sellers more aware of what they are selling, and Buyers more aware of what they are buying. More than anything else the forms and procedures direct Buyers to source their information. And it gives the customers the right to question pretty much everything. Often, though, Sellers don't have the answers because they never questioned the condition and/or have become accustomed to certain situations, enough that they don't see them, don't hear them, and are surprised others do! Oh yeah, the airport noise. Oh yeah, we've got traffic noise. Oh yeah, the bridges blow horns when they go up. Oh yeah, there's traffic and noise at the school. Oh yeah, Buffie the cat sprays around the house and we burn incense. You get it. It's the obvious, but a Buyer should check out the neighborhood at all times of day and night, and all days of the week. It's called due diligence.

Because there are so many things to remember, I started compiling a list of items that I might need to disclose at some point. It was the result of reading or knowing about disclosure lawsuits (some of them industry-changing), of coming across unique circumstances that might come up at another time. Today that list is seven single-spaced pages. I use it as a guide.

Some agents have been more than surprised when they see it. But others have asked if they can have a copy of it. For years I thought...figure it our yourselves. This is my hard work. But after a while that seemed stupid on my part and I have freely shared it when asked.

Here's the second story....Several years ago I was representing Buyers in the purchase of a local townhome. The listing agent was known for his disorganization and I wasn't getting any papers from him. So I called him and said I was coming over to his office, not to move, and we'd go through his file so I could pull out what I needed. It was easier on him and he said fine. He was glad to have somebody else doing it. So that's what I did.

When I was finished and back at my office I started reviewing the papers. The content was very familiar but the font size was much larger. It was my own disclosure staring back at me! Turns out an agent I had shared it with, and who still does a load of Bay Farm townhome biz, had modified my disclosure...as intended....to make it his own. Then his agent friend asked him if he could use his version. And he did!

Now I had to tell my clients that what I gave them from me, and what the other agent was giving them, were almost one and the same! Full circle disclosure! It's not the way the law intended but better than what the guy would have put in writing if he was even inclined to do so.

Actually it's been an honor to share it with agents but they have to ask - I don't volunteer it. Not every wheel needs to be re-invented. We just need to keep those wheels moving.

Alameda real estate this week....
My client's property in San Lorenzo went pending this week. For months it has continued to sit and had price reductions but no offers. Then on Tuesday it received TWO offers! Almost identical!

Showing activity seems to be increasing quite a bit now that the holidays are ancient history. There are lots of people looking, but they seem to keep on looking. Sellers need to be aware that if they get an offer...they need to really pay attention. And to get offers, they need to have the price set so all the other similar inventory points back their property as the best value.

Unsold listings this week 192, 179 last report.

Pending listings this week 55, 58 last report.

Tuesday tour: 8 with 2 repeats (and 1 floating home) Great day for a brisk bike ride!

Highest and lowest priced new listings

New 14

BOM (back on market) 1

Repositioned properties (price changes) 14

Pending 7

Sold 5

Market rejected properties (expired) 5

Withdrawn/canceled 2

Alameda real estate awards this week....
Somewhere between Get me to Rehab and I Need a Facelift....a tie!
Winner (decent price, a number of upgrades)

That's a wrap! Enjoy this spring weather! Hard to believe it is January. But I hope we get another bunch of rain for the greater good of our water needs later this year!

Carry on! Make it work! I'll be at 108 B Cypress Sunday 2-4pm for an open house. Check out a nice Woodstock stock co-op unit on Alameda's quiet side....the west end!

best, marilyn

Price brings 'em in...

2011-01-13T23:59:00.000-08:00

Blog photo: 505 Pacific Ave.

Blog post: Price brings 'em in! That's an understatement. 505 Pacific Ave brought 'em in from all over. This is the listing I put on the market last week. Seven days after coming on the market 12 offers showed up, and the property went pending today.

Many fell in love with the small price, huge lot, huge house, huge potential. Three interested parties wrote wonderful letters to the owner explaining their talents, both amateur and professional, their observations of the house over the decades, their desire to restore it. And each of those potential buyers were very qualified buyers on all levels. (I'm a huge fan of those letters and encourage my own buyers to write them.)

But having to get a loan gets trumped by cash almost every time,certainly in this market.

The volume of uninformed buyers and dreamers and newbies and multi-generation families who came from all over the bay area was astounding. And they brought with them agents who knew less than the dirt the Victorian beast sits on. They thought they could live in it and rehab it at the same time, move it, tear it down, subdivide the lot, add a bunch of apartments regardless of the zoning and restrictions imposed by the 1973 Measure A. Well, it totally reinforced the greater fool theory.
I had four buyers ask me to be their agent. Who in their right mind would ask someone they don't even know and have not interviewed, to represent them in any real estate transaction? That answer is easy....people who think they can get a better deal, an 'in' to an accepted offer, by having the listing agent represent them. And that's as frightening as as the unknowing, unaware out-of-towners. I politely declined.

The lessons I learned during this?
-Be sure to use the right contract for the type of property involved. Many agents submitted offers on the wrong contract.
-Educate the customers and their agents. There are still too many LOCAL agents who don't have a working knowledge of what zoning means, and how Alameda's Measure A affects potential (good or bad).
-Make sure the clients get a thorough assessment of the condition of the property BEFORE they write an offer when it is going to be very competitive. It will make for a smarter client thus a better offer, OR scare the buyer away. It's the cheapest insurance anybody can buy if it makes the buyer wise up and avoid a very expensive mistake.
-And keep having the Buyers write those 'why we love the house' letters. They do more good than harm.

That may be another post...about how they can work, with some examples of why they work.

ALAMEDA REAL ESTATE THIS WEEK....

Unsold listingS this week 179, 170 last report

Pending listings this week 58, 58 last report

Tuesday tour 9 with 2 repeats

Highest and lowest priced new listings

New 13

(BOM) Back on the Market 2

Repositioned properties (price changes) 11

Pending 9

Sold 6

Market rejected properties (expired) 4

Withdrawn canceled 0

ALAMEDA REAL ESTATE AWARDS...
Get me to Rehab...tie!

ENJOY THE DRY WEATHER! MAKE IT WORK! CARRY ON! TIME TO PRUNE THE ROSES!

BEST, MARILYN

We're baack! The whales in Maui and me in Alameda.

2011-01-06T23:27:00.000-08:00

Blog photo: The only whale watch I'd been on was a dud in Newport Beach many years ago. Sure, they give a ticket to try again but how would I know if I'd be down there during whale season. But they were showing up in Maui so off it went! Though December is early in the season, we had a super nice show of waving fins, competing male whales, flukes, and humps on the humpback whales. At one point a couple of them came to us. And being on 45' a hard-bottomed inflatable with 45 of my closest friends, gets you right on, almost in, the water. And it's less pretentious than the cat or trimarans. Quicker too!

Blog post: I find it comforting that as I started to generate the links for what has been going on since The Second Story went into hibernation for the month of December, the process seemed almost new! That means I really took a break!

I did work on two offers clients received while away, had a couple of price reductions, did some tax challenge work for a client, valued 13 properties for the biennial review of their holdings for a LLC, plus numerous projects I bring that need my attention but don't get it while at I'm at home. For the first time in 28 years, the Neighborhood Watch list is on a spreadsheet and disbursed to all the participants. I think I made 60+ calls to folks to get updated info and verify they wanted to be on the list. And it got finished this past Tuesday. Hallelujah and Happy New Year!

I get to do a lot of thinking. Just trying to put the pieces of the real estate pie together. I read a lot. I bought a Kindle for the trip, eliminating the hauling of books. I LOVE that device! And I started reading the NY Times...for 60 days I get a free subscription. And the best part of it? It is great outdoors...no glare. And the next best thing? I use the built in dictionary feature ALL the time! Move the cursor before the word and in 1 second the definition is there...and more if you want it! I no longer have to make up my own definitions because I'm either too lazy to get to a dictionary or a computer. Wow!

I read The Big Short by Michael Lewis in about two days. It's about the guys who bet against the way the morons on Wall Street were playing with credit swap defaults and collateralized debt obligations. I could follow about 90% of it. Almost anything about Wall Street and government and elected officials these days makes me want to slap someone. I just don't know who. I'm still working on the John Adams bio. It's good but thick, not just the book (also now on Kindle) but I can't do more than a few pages at a time.

On to more pleasant thoughts. I try to figure out what more I can do to better serve my clients. And I try not to think. That is when most of the really productive ideas show up. Oh, and I play a bit of golf upcountry, ocean swim daily, snorkel, and I don't go in the pools because I'm a beach person. I took some type of yoga lessons for 3 mornings, and took a ukelele lesson (quite fun).

And here's my shameless self-promotion: I started a blog for fun! Not work. I've got several posts up and responses have been good...it seems to be making people laugh and it's also on FaceBook. If you are curious check out Inside Out Like this blog, if you want to be notified of a new post, send me an email and opt in....and I'll send a BCC blast out to those who want to read it.

And of course, it's the time of year when I do want to remind you that if you don't want to be part of this blast, my feelings aren't hurt and I'll take you off the list....that's just good biz! YET! If you think someone you know might like The Second Story or Inside Out, please feel free to share them. That's what blogs are for.

Back to work!

Alameda real estate this week..and a little before....
It's been quiet when it comes to new inventory, as is typical at holiday time . And loads of listings have expired. So today's summary goes back to 11-26-10 through today. We'll get right to it. Some of my online trade journals have changed their publication dates and/or morphed into something new

My listing at 305 Court had a price change to 585K from 600 in December. Same with 325 Laguna Vista and it went from 500K to 485K

And I put a major big 1885 Victorian fixer duplex (BIG fixer) on the market this past Monday night. It appears it will get multiple offers and the price is bringing people in from way out of town. 350K. Check out 505 Pacific The website has extensive info and photos. My client went through a rather flawless amnesty approval for the second unit. That's the second time I've help clients with that in the last 18 months...both going very well.

Unsold listings this week 170, 185 last report

Pending listings 58 this week, 89 last report

Tuesday Tour - that's easy there was 1 - 505 Pacific and it wasn't raining and the sun was out YIPPEE!

Remember these go back to the end of November and may have gone through several status changes.
New 72

Back on Market (BOM) 20

Repositioned properties (price changes) 46

Pending 31

Sold 61

Market rejected properties (expired) 39

Withdrawn/canceled 34

Alameda real estate awards this week....

How about my new listing for Get me to Rehab?

Alrighty...it's late! Carry on! Make it work! Have a great 2011 - we're all in this together!

best, marilyn

Making FHA financing work for you, not against you.

2010-11-25T22:02:00.000-08:00

Blog photo: This was taken when Evan, Erin, and I went to Scotland 3 summers ago. It just seemed so friendly! Earlier this week I saw it scroll by on my desktop where all my photos randomly show up and realized it would be good for this week's blog post.

Many of you have been among the original recipients of a weekly email blast update that started about 11 years ago. It had the same name as today - 'The Second Story.' Back then there were no photos, no links, in an attempt to give you a flavor of what I saw that week in the Alameda real estate market. I typed it up, sent it out only to those who opted 'in' and just hoped I was getting a mental image across. It morphed into having the awards, then photos, then links.

Two and half years ago I took the leap and went from private to public with those observations and The Second Story became a blog. My Broker said I'd been blogging for years but it never occurred to me that's what it was...it was an email blast.

As has been the tradition for most of those years, The Second Story goes into hibernation for the month of December, so this is it for the rest of 2010. It's a necessary break because keeping an eye and ear out for interesting items is always on my mind. So it's nice to be free of it for a bit, but strangely enough, I never really am. It's just that instead of writing and constructing, I'm taking notes for when I start up in the new year.

My hectic social life (NOT!) around New Year's Eve and Day, will dictate if I start then or on the first Thursday of the new year. When I do, we'll catch up with the weeks we've missed.

Blog post: Picking up from last week, I was writing about FHA loans and with the low downpayment, if a quick sale is necessary you will be going short. I mentioned that there are FHA loans that are adjustable rate mortgages.

These are not for the feint of heart but do serve a purpose for some folks. First, the interest rates are even lower than the 30 year fixed rates. Second, they are fixed for a period, like 5 years. Third, you know exactly the terms the loan will convert to if you still have that financing and those terms will remain for the remaining 25 years. Yes, you can refinance them.

So who would consider this? Somebody with extreme job security. I mean extreme. Somebody who can safely say that house will be home for 10-15 years. Somebody who understands the low rates of today and the concept of leverage. Somebody who is discipline enough to structure a payment schedule that has more $ going to the principle. Somebody with an excellent income who is approved for the 30 year fixed loan, but who then decides to take the ARM.

That person would consider making a payment at the higher 30 year fixed interest rate (or more), and whatever is over the required 5 year fixed payment, would apply the balance of the higher amount to principle. Somebody who wants to get rid of that disgusting Private Mortgage Insurance (PMI) charge by obtaining a 20% equity position, somebody who gets that if he/she sticks with that loan beyond the 5 years that the expected (in this environment) increases in interest rates won't be so hurtful since the principle has been paid down.

It might be somebody who may be able to pay more towards the principle by breaking the monthly payments into every two weeks, thus effectively turning that 30 year loan into 23 years. (Check with your own lender and try to set up that draw from your checking account on that schedule....you are just splitting the monthly payment into two equal parts, the result being you are pre-paying an extra full principle payment every year and it is never too late to start.

The goal is to knock down that high loan balance to an 80% equity position as quickly as possible. Then look at the interest rate situation and make the next decisions.

Also don't think that by pre-paying you are buying a free ride to skip a payment. Not so much. Not ever.

And one more thought....I've had clients who could afford to take a 15 year fixed loan. But even with the lower interest rate, the payment obligation is super high. I suggest that they take that 30 year fixed loan and then pay it off at the 15 year rate, applying the additional amount to principle. That way if they need some new tires one month, they have the ability to pay at the 30 year rate and still drive a car.

I've had personal experience with ARMs since 1988. Because we have 5 units (one is our principle residence) we must obtain commercial financing. No choice. It's a whole different ball game and 30 year fixed rate loans don't even exist. We split those ARM payments into every two weeks for about 13 years before I refied our loan last year. The new lender doesn't allow those split payments in their system so that's one of my projects....set it up so I can start to prepay that puppy. And the big winner with that loan? Was us! It out-performed (was lower) than any fixed rates that worked for 1-4 units for its life. But how to choose one is for another day.

Alameda real estate this week...

Unsold properties this week 185, 184 last report
Pending listings this week 89, 94 last report

Highest and lowest priced NEW listings this week

Tuesday tour 7 with 2 repeats, plus I saw another one that I don't expect will be on a tour, or open. See the awards below.

New 10

BOM (back on market) 0

Repositioned properties (price changes) 6

Pending10

Sold 15
notes:
-the first solds at Grand Marina are here.
-1525 Gibbons original list was 965K, closed for 769K
-1417 5th original list was 825K, closed for 660K

Market rejected properties (expired) 0

Withdrawn/canceled 3

Alameda real estate awards this week...remember this is only my perspective!

Get me a facelift! 3 way tie!

OK! That's a wrap! I hope you had a lovely Thanksgiving and have a great holiday season. I am most grateful to be able to do the work I do, to have the BEST clients in the world, to continue to learn, and hopefully provide value added services to you that help you along your real estate journey!

In the meantime, if you have questions, concerns, stories of your own, and/or comments about the real estate market, keep them coming. I definitely 'do' real estate during December, and add a few personal projects into the mix: cleaning up my church Treasurer job/procedures now that I've been at it almost a year; figuring out Medicare insurance coverage for my dad (who knows what a formulary is?); plus it's time for planning and visioning for the new year.

All the best! marilyn