Local Real Estate News

The Silicon Valley Market Report for February 2010

So far 2010 is off to a roaring start, with multiple offers again becoming commonplace, and highly qualified buyers lining up in some cases to present strong offers for well-priced, desirable properties. As a couple of data points, our listing for a three bedroom home at 842 Sycamore Drive in Palo... Read more »

Tales From the Front 1/31/2010 – The Return of the Tulips

I have been patting myself on the back over the results of my contrarian marketing of 842 Sycamore Drive in Palo Alto. It sold in a week with 14 offers, when the average Days on Market for a home in that area and price range is about 100. Part of my contrarian marketing was to put it on the market... Read more »

Free Mortgage Payment Protection, FHA Standards Easing and Loan Mods at Absolute Mortgage Banking

Free mortgage payment insurance, really? Yes! While hosting one of my monthly mortgage market updates, which generally occur every third Wednesday of the month, I learned that CAR actually offers complimentary mortgage protection through their Housing Affordability Program (special thanks to Pam... Read more »

Tax Credit Extended, Markets Further Stabilizing and Real Estate Ideal Hedge

Tax Credit and Conforming/FHA Loan Limit Extended Made official on Friday, the tax credit for home purchases was extended through July 1, 2010 and the important details are exactly as they were in my post on Friday the 30th of October, which was summarized as follows: · Effective on binding real estate... Read more »

High-cost conforming loans and housing prices

On November 6, Scott Sambucci of Altos Research did some analysis of housing prices around the $730,00 sales price to see if conforming loans requiring as little as 5% down were having an impact on selling prices, vs. the 20% minimum down payment for loans over $729,000. Basically, there is an effect,... Read more »

Tales From The Front, My World of Real Estate, November 8, 2009

75 Coronado Avenue, Los Altos $,188,000 I had the pleasure of hanging out here again this Sunday. It’s a 6 bedroom, 4.5 bathroom home in Los Altos, brand new construction, for the low, low price of $4,188,000. Currently, there are only 11 homes in Los Altos for sale priced over $3,000,000, so this... Read more »

Mortgage Mania 25 – What’s Next?

Last week I attended a lecture given by economist Chris Thornberg of Beacon Economics on the economic forecast for 2010. The event was sponsored by accounting firm Petrinovich ,Pugh and Co., and Bridge Bank. You can view Dr. Thornberg’s recent presentations on the Beacon Economics website, and his... Read more »

Economic Forecast, Extending the Tax Credit and the Golden Window for Buyers

On October 12, I attended a SILVAR sponsored economic update and forecasting presentation by CAR EVP Joel Singer, and I thought you might find the following summary and comments beneficial: As we all know financing is the primary key to housing stability, and Singer is 100% confident that both tax... Read more »

Tales From the Front – The World of Palo Alto Area Real Estate 10/16/09

Today was re-tour day in Palo Alto. When the price of a home is reduced, or the listing agent is trying to generate some interest in a stale listing, they “re-tour” it, or have it on broker’s tour again. Today we visited three great properties that are looking for new owners and are... Read more »

Dow Above 10,000 For The First Time in a Year – Housing Prediction to Come True?

The Dow Closed Above the magic 10,000 mark for the first time in over a year, meaning that our 401(k)’s should be back from being 201(k)’s, and that it is time to test my response to the question “What will it take for the housing market to come back?” I have been saying “Dow... Read more »

Real Estate Industry News

Tales From the Front 1/31/2010 – The Return of the Tulips

Free Mortgage Payment Protection, FHA Standards Easing and Loan Mods at Absolute Mortgage Banking

Tax Credit Extended, Markets Further Stabilizing and Real Estate Ideal Hedge

High-cost conforming loans and housing prices

Mortgage Mania 25 – What’s Next?

Economic Forecast, Extending the Tax Credit and the Golden Window for Buyers

Mortgage Mania 31 – October 2009

After a bit of a hiatus, we’re back with our weekly proprietary comments on new developments in the mortgage world, and how they affect you. S&P/Case-Shiller Home Price Index Shows Broad Improvement Just released this morning, the S&P/Case-Shiller Home Price Index for July continues to show... Read more »

The Innovator’s Dilemma in Real Estate Redux: Redfin Proves You Can Turn a Profit Even With Lower Commissions

In Redfin CEO’s Glenn Kelman’s inimitable “Aw Shucks” writing style, he announced recently that the discount online hybrid brokerage has turned its first monthly profit. While one month certainly a trend does not make, it is an important milestone in the company’s development.... Read more »

Buydowns and the Bottom

If you were in the market to buy a $2,000,000 home home in the Bay Area, would it make a differnce to you if the monthly investment was less than $5,000 with a 30% down payment? And I’m not just talking about the mortgage payment, I am talking about complete, tax adjusted cash flow including... Read more »

Change, Logic and Money

January is a month typically filled with many things inspirational, and I must say that January 2009 appears exceptional. In listening to Obama’s inaugural speech on Tuesday, my own interpretation was, “The power of change begins with me. With you. The sooner we all believe that we can change... Read more »