East Bay Realty Pro Blog

At the recent fall meeting of the California Association of Realtors (C.A.R.) in San Jose, I heard C.A.R. Chief Economist Leslie Appleton-Young give members a glimpse of what to expect in the 2012 real estate market. Appleton-Young said that “the economy has started to stall and weaken” and “consumers are shaken up.”
Just as 2011 is [...]

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According to a recent Wall St Journal article, “Tighter Lending Crimps Housing,” over 25% of all mortgages nationwide were rejected last year by the ten largest real estate loan providers. And, this is before new rules take effect that will make it even more difficult to borrow. (See my previous post, “Getting Mortgage Will Be [...]

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How wonderful! Yes, this actually happened. Read HERE how a big bank messed up, was sued, and defied court order to pay homeowner’s legal fees. Sometimes there is justice in this world.

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The Federal Reserve has just proposed guidelines for a QRM, “Qualified Residential Mortgage.”
According to a mortgage broker I spoke with, in order to get a QRM for the best (lowest) interest rate, a borrower would need at least a 20% down payment. In addition, the maximum monthly payment for PITI (Principal, Interest, Taxes and Insurance) [...]

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Surprises in an escrow almost always turn out badly. This was true for the buyer, seller and agents in a recent, local purchase. In the end, the sale went through, but only after all involved endured much grief.
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At a time when people need more help than ever to buy or refinance a home loan, lenders have tightened the screws on qualifying. According to a recent article in Smart Money magazine, “Credit Scores: How 720 Became the New 680,” millions of folks who not long ago were eligible for the best rates and [...]

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I have received a number of inquires from clients and those who read my newspaper column about a “3.8% ‘sales tax’ on homes sold after 2012.” There are a lot of rumors and much incorrect information going around, especially online.
Here is a statement from the California Association of Realtors (C.A.R.):
“Misinformation has been spreading around the [...]

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This is the third, seriously down market in my more than 30 years in real estate and I notice buyers and sellers repeating some of the same mistakes. These include buyers paying well over asking on properties that do not appear to justify the high price and sellers listing too high for the market.
To get [...]

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Last year, as a director of the California Association of Realtors, I attended an information session about the National Association of Realtors (NAR) “Realtors Property Resource” (RPR). I walked away impressed with the scope and functionality of the program, begun in 2009 at a projected cost of twenty to twenty-five million dollars. Approximately 147 million [...]

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Last May, Senate Bill 183 (Lownethal) was signed into law. It mandates carbon monoxide detectors in all homes that have a fuel-burning appliance, fireplace or attached garage, one and two-family units and townhouses, and other “dwelling units” such as “factory-built homes, condominiums, motels, hotels, dormitories” and apartment houses.
On January 1, 2011, sellers will need to [...]

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