Monday, October 31, 2011

What is the market like for rentals? Condos for example?

The market for rentals is very strong especially in the Bay Area due to all the demand from previous home owners that have lost their house due to foreclosure and therefore must live somewhere else for rent.  The current strict lending environment has caused folks with even close to perfect credit scores (800+ FICO) to be denied in their loan application process when trying to qualify for a home purchase today.
 
Right now in the Bay Area investors are enjoying some of the highest cash-flow return rates on rental properties in over 25+ years in neighborhoods all across the Bay Area on different types of properties such as Single Family Detached Homes, Apartments, and Condo's alike.
 
If you would like further details on the rental market for condo's  in a specific city or neighborhood just let me know.
 
Happy Halloween!

HAPPY HALLOWEEN

Be sure to be well, be safe, and of course eat lots of candy every one!!  Halloween is a grand American tradition that has always been one of the most exciting and fun of all holidays were you never get too old to put on a costume and never get at all bored of watching all the children of all ages enjoying themselves as their favorite character in full dress collecting their favorite candy all the while running around on a full tank of sugar!  May all the children and parents sleep very well tonight!  TRICK OR TREAT!!

Thursday, October 27, 2011

Good deal in CA Bay Area El Cerrito

I have knowledge of a great 2 bedroom, 1 bath home with over 1000 feet of living on a lot of over 7,000 feet.  This home will be listed next week below $400,000 and approximately $100k below current market value.
Property is located in the desirable Fat Apples's neighborhood.

http://www.YourHOMEinvestment.com

Thursday, October 20, 2011

HOME IMPROVEMENT & THE ECONOMY

Its of utmost importance for most folks these days especially with the economy where it is today to watch every
dollar expenditure and to stay within one's means in order to not go over their budget.

Be sure to use a qualified licensed general contractor and the use of permits to maximize your value on all home improvements projects you undertake.   This will greatly impact you for the better if you should put your home up for sale at some point in the future you will reap the rewards for doing the job done right.

Also, I highly encourage you to get at least 3 bids on all home improvement projects in order to secure the best deal possible so that you have the best chance of ensuring the value of your dollars spent.

7 Smart Strategies for Kitchen Remodelin

To make sure you maximize your return, follow these seven smart kitchen remodeling strategies.
1. Establish priorities
The National Kitchen and Bath Association (NKBA) recommends spending at least six months planning your kitchen remodeling project. That way, you won’t be tempted to change your mind during construction, create change orders, and inflate construction costs. Here are planning points to cover:
  • Cooking traffic patterns: A walkway through the kitchen should be at least 36 inches wide. Work aisles should be a minimum of 42 inches wide and at least 48 inches wide for households with multiple cooks.
  • Child safety: Avoid sharp, square corners on countertops, and make sure microwave ovens are installed at the proper height—3 inches below the shoulder of the primary user but not more than 54 inches from the floor.
  • Outside access: If you want easy access to entertaining areas, such as a deck or patio, factor a new exterior door into your plans.
A professional designer can simplify your kitchen remodel. Pros help make style decisions, foresee potential problems, and schedule contractors. Expect fees around $50 to $150 per hour, or 5% to 15% of the total cost of the project.

2. Keep the same footprint

No matter the size and scope of your kitchen remodel, you can protect your budget by maintaining the same footprint: Keep the walls, locate new plumbing fixtures near existing plumbing pipes, and forget bump-outs.

Not only will you save on demolition and reconstruction costs, you’ll cut the amount of dust and debris your project generates.

3. Get real about appliances

It’s easy to get carried away during your kitchen remodeling project. A six-burner commercial-grade range and luxury-brand refrigerator may make eye-catching centerpieces, but they may not fit your cooking needs or lifestyle.
High-priced appliances are worth the investment if you’re an exceptional cook. Otherwise, save thousands with trusted brands that receive high marks at consumer review websites, like www.ePinions.com and www.amazon.com, and resources such as Consumer Reports.

4. Light your way

Good kitchen lighting helps you work safely and efficiently.
  • Install task lighting, such as recessed or track lights, over sinks and food prep areas; assign at least two fixtures per task to eliminate shadows. Under-cabinet lights illuminate cleanup and are great for reading cookbooks. Pendant lights over counters bring the light source close to work surfaces.
  • Ambient lighting includes flush-mounted ceiling fixtures, wall sconces, and track lights. Pair dimmer switches with ambient lighting to control intensity and mood.

5. Be quality conscious

Functionality and durability should be top priorities during kitchen remodeling. Resist low-quality bargains, and choose products that combine low maintenance with long warranty periods. Solid-surface countertops, for instance, may cost a little more, but with the proper care, they’ll look great for a long time.
If you’re planning on moving soon, products with substantial warranties are a selling advantage.
“Individual upgrades don’t necessarily give you a 100% return,” says Frank Gregoire, a real estate appraiser in St. Petersburg, Fla. “But they can give you an edge when it comes time to market your home.”

6. Add storage, not space

Here’s how you can add storage without bumping out walls:
  • Install cabinets that reach the ceiling: They may cost more--and you might need a stepladder--but you’ll gain valuable storage space for Christmas platters and other once-a-year items. In addition, you won’t have to dust cabinet tops.
  • Hang it up: Mount small shelving units on unused wall areas and inside cabinet doors; hang stock pots and large skillets on a ceiling-mounted rack; and add hooks to the backs of closet doors for aprons, brooms, and mops.

7. Communicate early and often

Establishing a good rapport with your project manager or construction team is essential for staying on budget. To keep the sweetness in your project:
  • Drop by the project during work hours: Your presence broadcasts your commitment to quality.
  • Establish a communication routine: Hang a message board on site where you and the project manager can leave daily communiqués. Give your email address and cell phone number to subs and team leaders.
  • Set house rules: Be clear about smoking, boom box noise levels, available bathrooms, and appropriate parking.

Tuesday, October 18, 2011

Five steps to avoiding fraud


RightArrow.gifWeekly Fraud Alert: Five steps to avoiding fraud
As financial scams evolve to keep pace with the changing American economy, it is important that consumers educate themselves about common scams.  Here are five steps consumers can take to avoid becoming a victim of financial fraud.
1. Research: Before handing over money, look into who is receiving it. Go online to see what others are saying about a company.  If a caller claims to be a relative, ask him or her a few questions that only a relative would know.
2. Conduct Due Diligence: Due diligence is especially important when working with someone claiming to be a lawyer, as they may not be.  According to the FTC, the first question a person should ask is “Are you a lawyer,” to ensure you are entering into an attorney-client relationship.
3. Protect Personal Information: When entering personal information online, such as your name, date of birth, and/or social security number, even if it’s to confirm your identity, consumers should ask themselves how much they trust the website.  Even a transaction that appears to be low risk can make you vulnerable.
4. Use a Certified Housing Counselor: Homeowners having trouble making mortgage payments are advised to speak with a certified housing counselor, who usually charges only a minimal fee, or, in many cases, are free.  Counselors approved by HUD can be found at http://www.makinghomeaffordable.gov/get-assistance/counselor/Pages/default.aspx
5. File a Complaint: If you do become a victim of fraud, file a complaint to make the problem known.  The FTC says that consumer complaints are how they know what’s going on in the marketplace.  Consumers can file complaints with the FTC, the Better Business Bureau, the FBI, the Internet Crime Complaint Center, or the state’s attorney general’s office.

Monday, October 17, 2011

INCOME PROPERTY IN THE BAY AREA

Investors in the Bay Area region of Northern California are jumping out of their seat to buy an investment property significantly below actual replacement cost and with loans now available below 4% are enjoying the best yield (real cash flow) after all carrying costs at a rate better than anytime in the last 20+ years!

Monthly Payments for Home Buyers

Monthly Payments for Home Buyers

Sunday, October 16, 2011

DOW TURNS POSITVE YTD

DOW JONES INDUSTRIAL CLOSED FRIDAY AT 11,644.49 TO SHOW A YEAR TO DATE GAIN OF .58% WHICH MAYBE A POSITIVE INDICATOR FOR REAL ESTATE PRICES GOING FORWARD.

Friday, October 14, 2011

North & East Richmond, CA --MARKET UPDATE

Have you seen the market prices in North & East Richmond lately?
Prices are dropping fast!!

Check out this new REO listing that hit the market today:

Lovely single story home with large front, side, and back yards! Living room boasts hardwood floors and kitchen has been beautifully remodeled with granite counter tops! A little TLC from you will make this home shine!

2Bed/1Bath 851 sq.ft on a double size lot LISTED for $114,900 by the bank.

Monday, October 10, 2011

WINTERIZING

  • As the warm summer days begin to turn into cool fall and winter nights, many homeowners see increases in their electricity bills as they try to keep their homes warm.

  • To help lower the cost of heating a home this winter, homeowners can weatherstrip their homes.  According to the U.S. Dept. of Energy, there are many kinds of weatherstripping products on the market.  Since each product is designed to work in a different area of the home, homeowners should read product packaging carefully to determine if it is best suited for windows or doors, as well as indoor or outdoor use.
  • Another tip for “winterizing” a home is to get a furnace or heating system inspection, which most professionals recommend homeowners do at least once a year.  An inspection of the working parts can ensure that the house has heat when needed and can prevent costly repairs in the future.

California Foreclosures on a National Scale

California  has had in the last 11 months, more than a half-million homes entered into foreclosure. While California used to have five cities ranked on the list of the 10 highest in foreclosures in the USA, it now has eight such cities.