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Blog Archives: April 2013

Understanding And Purchasing Distressed Property For Profit

April 30, 2013
According to the the latest Foreclosure Inventory Analysis showed nearly 1.5 million properties were currently in the foreclosure process or being held by banks as Real Estate Owned. This was up 9 percent from the first quarter of 2012, but down significantly from the apex of foreclosure activity — 2.2 million units — in December 2010. What Is Distressed Property? “Distressed property” is a blanket term for homes in foreclosure, short sale or that are REO (Real Estate Owned). Below are definitions of different types of distressed real ...

What’s Ahead For Mortgage Rates This Week – April 29, 2013

April 29, 2013
Mortgage rates fell again last week and are again near record lows. According to Freddie Mac, the average rate for a 15-year fixed rate mortgage did achieve a record low of 2.61 percent as compared to 3.1 percent one year ago. The average rate for a 30-year fixed rate mortgage fell to 3.40 percent and near the record low of 3.31 percent. Low mortgage rates are helping homeowners with refinancing and are boosting housing markets as more buyers can qualify for mortgage loans. Home Values Continue To Rise Last week’s economic news was ...

7 Tips To Get Your Home In Tip Top Selling Condition

April 26, 2013
A clean, uncluttered home is very likely the single most important thing to get your home sold quickly and for top dollar. In fact, a recent survey by HomeGain showed a whopping 568% return on investment for money put toward cleaning and organizing a home for sale! And other experts say that a well-put-together home can shorten the time on market drastically as well. Before your real estate agent lists your San Francisco home, it’s essential for it to look its best. 7 Tips To Get Your Home In Tip Top Selling Condition Examine your living ...

How To Have the Best Garage Sale Ever At Your Home

April 25, 2013
It’s getting close to that time of year again — time to have a garage sale at your home! Here are a few tips to help you have your most successful garage sale ever. Advertise Your Sale In Local Newspapers And Online Many of the habitual Saturday morning garage sale patrons around San Francisco use the paper to plan their treasure hunts. They do this to make sure they hit all of the sales in certain neighborhoods. In the ad, mention your home address, date and time of your garage sale and any big or popular items you’ll be selling. Open ...

Existing Home Sales Numbers Show Value Gains Across America

April 24, 2013
The National Association of REALTORS® released its Existing Home Sales report for March on Monday. Sales dipped from February’s seasonally adjusted annual rate of 4.95 million to 4.92 million existing homes sold in March, a decrease of 0.6 percent month-to-month. This reading was lower than Wall Street’s consensus of 5.03 million existing homes sold, but there is also good news. Sales of existing homes are up by 10.3 percent as compared to March 2012. Economists note that existing home sales have performed within a narrow range of 4.90 to ...

5 Important Questions To Ask Before You Invest In Solar Power For Your Home

April 23, 2013
_     If you’ve been considering taking your home in a green direction, April is the perfect month to make an environmentally friendly update. Installing a solar energy system may be a very smart way to help the environment. Plus, solar panels turn sunlight into energy that can save you money! The federal government and many states are now providing tax incentives and rebates for installing solar panels in 2013 which make this an excellent opportunity to go green this spring. However, there are many installers that might not have the ...

What’s Ahead For Mortgage Rates This Week – April 22, 2013

April 22, 2013
Mortgage rates fell for the third consecutive week. According to Freddie Mac, the average rate for a 30-year fixed rate mortgage fell by two basis points to 3.41 percent as compared to last week’s 3.43 percent and 3.90 percent year-over-year. The average rate for a 15-year fixed rate mortgage was 2.64 percent as compared to last week’s 2.65 percent and 3.13 percent year-over-year. Falling mortgage rates were attributed to reduced consumer spending. Last week’s economic news includes the NAHB Wells Fargo Housing Market Index (HMI), with a ...

Four Ways To Ensure Your House Sells Quickly And For Top Dollar

April 19, 2013
Selling a house in the current market can be tricky, but there are certain mistakes an owner can make that will cause a San Francisco home to sit still without a decent offer and cause the listing to go stale. In order to prevent that from happening, make sure you are not making one of the following mistakes when putting your property on the market. Overpricing While your home may hold sentimental value, many times that value does not translate into dollars. Be realistic about your asking price and know the details about your current ...

5 Great Questions To Ask At An Open House For Real Estate

April 18, 2013
An open house gives you a great opportunity to look more closely at San Francisco real estate you might be interested in buying. It also affords you the chance to chat with the owner or real estate agent so you can bring up any issues or hesitations you have with the home. Knowing what to ask can be difficult, so below are examples of questions to ask at the next open house you attend. Why has the seller decided to sell now? If you ask why the seller is moving, you could learn valuable information to help determine your offer — or ...

Exclusive Designer Party at Herbst Manor – Get on the List!

April 17, 2013
EDIT 19-April:  Thanks to everyone who entered – I was overwhelmed with the positive response! Congratulations to the two lucky winners who will be my guests at the private party. Tickets are available for the general public from www.decoratorshowcase.org. ### Join me as my guest and witness the drama when Pattern, Texture and Color mix at the 2013 Decorator Showcase, May 16th 6-8p. The Decorator Showcase is the west coast’s premier display of designer creativity and a fabulous source of inspiration for your own home improvement ...

Home Builders Hold Great Confidence For New Homes Over Next 6 Months

April 17, 2013
The National Association of Home Builders (NAHB) Wells Fargo Housing Market Index (HMI) report for April shows that builder confidence slipped by two points to a rating of 42 from the March reading of 44. The Housing Market Index (HMI) measures home builder confidence in market conditions for newly built single family homes. A reading of more than 50 indicates better than average confidence, while readings below 50 indicate that home builders have concerns about current market conditions. NAHB Housing Market Index Results For April Home ...

3 Ways Clean Floors Can Help Sell Your Home Faster

April 16, 2013
Have you ever walked into a home for sale and looked down to see stained carpet or scratched and worn flooring? If so, you would probably agree that it doesn’t leave a positive first impression. Imagine if you were a buyer looking at the same floor. The right type of flooring and whether it is well taken care of can make a big difference to buyers. If your floor is questionably clean, here are a few fixes to help remedy the issue to help your home sell quickly. Does your home have hardwood floors? You’re in luck. Buyers love hardwood ...

What’s Ahead For Mortgage Rates This Week – April 15, 2013

April 15, 2013
Mortgage rates saw little change last week amidst mixed economic news. Treasury auctions held on Tuesday, Wednesday and Thursday saw weak demand; this could have been caused by the FOMC minutes that were released on Wednesday. The minutes indicated that some FOMC members supported ending the current quantitative easing (QE) program within a few months. The Fed is currently purchasing $85 billion monthly in bonds and Mortgage Backed Securities. If the QE program is ended, demands for bonds and MBS will decline, which usually raises ...

Fed Meeting Minutes Reveal Rising Wealth Among Homeowners

April 12, 2013
The minutes for the Federal Open Market Committee (FOMC) meeting held March 19 and 20 were released on Wednesday April 10, 2013. These periodic meetings by the FOMC cover a wide ranging group of topics that impact the overall economy in the United States. The decisions made and acted upon from the FOMC meetings often sway the real estate and residential financing markets. Some highlights of the recent FOMC minutes for the March meeting include: Jobs and Unemployment Gaining Steam The unemployment rate fell to 7.7 percent in February. ...

6 Essential Spring Cleaning Chores to Make Your Home Shine

April 11, 2013
    If the thought of cleaning your San Francisco home this spring doesn’t bring a smile to your face, you’re not alone. To help you get going now, here is a short list of the 6 essential spring-cleaning chores. 1. Store winter clothes. It’s time to pack away your winter clothes, that is, if you even have any. Your Tahoe outfits need to be inspected, cleaned and packed away.  Don’t you dare put away your SF coats, tho! Store your clothes somewhere clean, cool, dark and dry. 2. Wash window treatments. You’ll be surprised at the huge ...

Michael Minson’s Real Estate Philosophy

April 10, 2013
Click the play button to see what I mean when I say “make the most of your most beautiful investment”.    

Federal Jobs Report Shows Biggest Increase Since 2008

April 10, 2013
The Bureau of Labor Statistics (BLS) issued its Job Openings and Labor Turnover report for February on Tuesday, June 9th, 2013. The data was mixed with preliminary figures for all non-farm jobs increasing from 3.62 million jobs in January to 3.93 million jobs in February. This was the highest month-to- month increase in jobs since May 2008. Non-farm jobs increased by 399,000 jobs from 3.53 million in February 2012 to 3.93 million jobs in February 2013, an increase of 10.2 percent year-over-year. More Jobs Means More Opportunities For Home ...

Should You Fix And Flip Or Buy And Hold Your Investment Real Estate?

April 08, 2013
When you make an investment in San Francisco  real estate, it’s important to consider your options for turning a profit even before you write an offer. It might be best to rent out the property to cover your mortgage and build equity providing the home cash-flows with solid rents and demand. Or, you could fix up the home and flip it so that you can sell it quickly for a larger amount than you invested. Both strategies may be appealing options, so here are some important factors to consider before making your decision. Flipping May Lead To ...

What’s Ahead For Mortgage Rates This Week – April 8, 2013

April 08, 2013
Last week’s economic news includes several factors that drove U.S. mortgage rates lower. The Bank of Japan announced that it would increase its purchase of bonds by $1.4 trillion over the next two years. This news caused yields on Japanese bonds to fall, which made U.S. bonds more appealing to international investors, that in turn increased MBS prices and caused mortgage rates to fall. Bumpy Employment Numbers Support Lower Interest Rates Other significant economic news involves an unexpected drop in the number of new jobs created last ...

7 Fun and Easy Housewarming Gifts for A New Homeowner

April 05, 2013
Whether you have new neighbors next door or old friends moving across town, a housewarming gift is a great way to show you care. New owners always appreciate anything that relieves the pressures of moving and settling in to an unfamiliar neighborhood. Here are seven fun and easy housewarming-gift ideas for your friends moving into their home. A Door Wreath You can choose a wreath that fits the season or that is simply attractive on the front door. Include a wreath door-hanger and storage box so they can easily hang it or put it away. A ...

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