Realty World – BLUE | Property Group, Inc.

Happy Super Bowl weekend!  A great time to get together with friends, even if football in not your sport.  This year, there will be 2 Super Bowl parties at Summerset!  So, if you want your own house party; without the mess, you can share the fun with others at the clubhouse! 
Summerset is an “over 55” active adult community (50 miles east of San Francisco).  We are a community of 2,000 gently-used homes that were built from 1994-2004.  Resale homes currently run from $180K to $545K.  Here is a link to these homes.
 In addition, a resale at Trilogy Vineyards is on this list at $629K. Trilogy (Shea’s active lifestyle community) is a new destination to live for those wanting a resort location.  Trilogy has fabulous NEW home designs from 1465 to over 2800 square feet, and prices starting just under $400K. 
 Do you want to hear a great real estate statistic? Currently, there are 25 ACTIVE homes on the MLS in both Summerset & Trilogy.  This is only 1% of all homes in all the communities!   
Enjoy your weekend, the game, and those fun Super Bowl commercials.  If you want more information on Brentwood’s “over 55” communities, let me know.

HELLLOOOO My Most Beautiful Wonderful Bay Area!!…  The “Question of the Day” is … Are you sure your realtor is licensed to do business?
Most sellers, buyers, soon to be in the market consumers and yes even fellow realtors probably don’t think too much about the licensing status of the agents they work with! And we all should know!! In fact its crucial to know… why would you work with someone who isnt licensed, why would you work with someone who has been disciplined or has complaints placed on his/her record?… As with everything else in life we must scrutinize the who, what and whys which includes “making sure your realtor is licensed and current” when it comes to working closely with that person regarding your home or any kind of property and where a huge amount of your life and money  is involved… Use a Licensed Realtor!
Jim Malmberg wrote a very insightful article on why its important to know the status of the realtor you work with…please take a minute to read it… and enlighten yourselves… http://bit.ly/A5hHlw
(the DRE – Department of Real Estate License Lookup link is inside Jim’s article… its FREE to use…do yourselves a favor and do this…)

Happy Belated New Year!  I hope you had a wonderful holiday and may you have a healthy 2012!  After an enjoyable Christmas, I caught a bionic cold, and it is great to be back at the computer and seeing the sunshine. 
There were 69 homes SOLD in Summerset in 2011 and homes SOLD for 97% of List Price! The highest sale was $500K (list price of $536K) and the lowest price sale was $180K (list price of $179,900).  The average days on market (DOM) was 61 days and the average sales price in Summerset was $291,900! 
Comparing 2011 to 2010 Sales, the DOM went up 16 days, from 43 days in 2010.  The average sales price for 2011 went down $15,000! ($306K average of 2010)  This is only -5% vs. YAG!  The number of homes SOLD in Summerset for 2011 went down to 69 homes, vs. the 74 homes that sold in 2011.  This shows a market that is still desirable for those over 55, wanting to live near a large city and have medical facilities less than 10 minutes away!  The average price per square foot cost went down -6%.
Here is a link to homes SOLD in Summerset in 2011…..
Summerset (an over 55 community) is located in Brentwood (50 miles east of San Francisco) and made up of 4 communities and just over 2,000 homes that were built from 1994-2003.  Each community has its own recreation center, pool/hot tub, and work out area.  The Brentwood golf course runs throughout all four communities; it is a public course and no fees are paid by Summerset residents for its upkeep.  Once you are a resident of Summerset, you will receive a monthly activity calendar, and can attend activities at any of the four Summerset locations.
If you would like more information, please give me a call.  I live in Summerset!

Hello & Happy “Almost” Thanksgiving!
I have a new feature added to my website, which enables you to search directly for all currently listed homes, with parameters that suit YOUR needs, such as number of bedrooms, price range, location, size, etc., regardless of listing agent.  The listing information is coming straight from the MLS system, which was previously available only to card-carrying, fee-paying Realtors!  The search page can be found on the “Homes for Sale” tab above or in the “Search for Homes” bar at right.  I’m pleased we can offer this to our clients:  by expanding your selections, and by giving you the most up-to-date information.  I hope it will help you in your search for the home of your dreams!
Once you locate a property, feel free to contact me for the next step.  Whether buying or selling, it’s important to have an agent looking out for YOUR needs – not just a sale.  I pride myself on offering superior & thorough personal service before, during and AFTER your transaction -  especially for such an important decision in your life.
On behalf of Realty World Blue Property, our “Blue Crew”, we wish you a holiday filled with many thanks and joy for the blessings that surround us all.
Sheryl M. Lipari              Mobile: 510.220.3777
Castro Valley, CA Fax:877.550.9615                                                                                                                                                                                                                                                                                       Email: smlipari@realtyworld-blue.com   or   YourNeighborhoodProfessional@yahoo.com                                                                                                                                                                                Website:  http://SherylsHomePage.com                Office:  888.880.7708 x 547

November is here and the leaves are just starting to fall in Summerset, an over 55 “active adult” community located in Brentwood.  This past weekend, was a yearly craft fair benefitting the Summerset 2 Social Club.  Now, plans for food drives, parties and charity donations are on the calendar.  Holiday tours of San Francisco, Santana Row, and the Dickens Christmas Faire are just some of the plans on the upcoming calendar.  One thing for sure, you can definitely fill your calendar when you live here at Summerset!  Each community has its own home owner’s association (HOA), recreation center, pool/hot tub, tennis court, bocce court, workout room, pool table and activity director.  Once you are a resident of Summerset, you will receive a monthly activity calendar, and can attend activities at any of the four Summerset locations.
Currently, the number of homes available in Summerset has been reduced to 26; that is a great statistic, as it represents less than 2% of all homes in the development.  Prices currently range from $250-$550K.  Smaller sized homes move quickly, especially those priced under $250K!  Here is a link to current homes in Summerset!
Homes for rent in Summerset have also been snatched up quickly these past few months.  Renting is a great option if you are not quite sure you are ready to live in a retirement community; while enjoying all the benefits of an owner.  Rents start at $1250 for a duet; however, currently the lowest price rental is going for $1625.
Should you have any questions about Summerset, call me.   I live in and enjoy sharing the opportunity to tell others about Summerset.  Wishing you a Happy Autumn Season!

Yesterday, I attended “The BIG EVENT”, hosted by Contra Costa  at the Lesher Theatre in Walnut Creek.  Two main speakers were there speaking: Robert Kleinhenz PHD, Deputy Chief Economist for Calif. Assoc of Realtors (CAR) and Gov Hutchinson, asst. general counsel & VP of  CAR.  This once-yearly meeting talks trends/forecasts and new laws coming into effect on January 1st.  The event is open to members of the Contra Costa Assoc. of Realtors. Below are some highlights of the talk:

Unemployment for California remains around 12%. (10% in Contra Costa.)  The non-farm recession job losses are about 1 million jobs; however, since Jan 2010, 222,400 jobs have been added to the state. 
The economy is recovering, but moving slow.  GDP for 3rd quarter 2011 was 2.5% for the same time last year, it was 2.7%. 
Consumers are not spending, and also DRAINING down their savings.  This will be a slow healing process, as consumer spending is needed to improve the economy.
Interest rates are historically LOW, and this makes it a great time to buy.
The California median home price is $287,400, down 8.3%.
2012 is predicted to mirror 2011 in the California housing market.  We are close to record affordability.  34% of buyers are first time buyers.
Tax credits helped sales in 2010; they say this is a transition year and sales have to move forward by themselves.   Equity sales rose in 2011.
There will continue to be foreclosure thru 2014!
Current inventory in CA is 5 months; down from 7 months.  Homes over $1 million have a 10 month inventory and those under $300K have a 4.7 month inventory.  Broken down by inventory type, in California there is a 2.6 month inventory for REO’s. A 5.9 month inventory for regular sales and ad 7.9 month inventory for short sales.
Most buyers shop for 4 months before contacting an agent; 80% of buyers used an agent.
Financing continues to be a challenge.
Some new laws going into effect 1/1/12: Landlords can prohibit smoking and it must be written in the lease.  Tenants can display political signs.  HOA transfer CANNOT be more than $250, and HOA MUST discloses if unit cannot be rented out.  If a home is listed for less than the liens, than it MUST be listed as a short sale.
If a DRE member is on the Top 500 tax delinquent list, they will lose their license. WOW!
For a link to this speech go to: www.car.org/marketdata and then click the speech section on the left hand side.

Happy Halloween!  Here are some spooky& sweet housing stats….

43% of all sales in California are REO’s or Short Sales.  Since these sellers will be credit-challenged, does that mean we lost 43% of these owners to non-ownership? 
33% of all loans are in foreclosure; some homeowners have not made a payment in 2 yrs.
30% of all mortgages in California are upside down; an additional 5% are very close. 
Some CA cities have numbers higher (example: Hesperia is 76.9% underwater – WOW) 

How about a sweet-as-candy housing stat?  Real estate is going for half-price or more of 2006 prices and interest rates are 4%  – This is great news, so WHY NOT BUY NOW?

The newly paved resting area at the sidewalk marks the newly improved Leland Street which is the major commercial area of Visitacion Valley district in San Francisco.

On September 25, 2011 (Sunday) from 10am to 4pm, the annual Visitacion Valley Street Fair finally come out.  Due to budgetary reasons, there was no street fair last year.  However, this year what I saw was still a major cut in the entertainment sessions as I did not seen any blow up play structure at the Bank of America parking lot as seen in the past Street Fair.
In 2006 and 2007, I had participated in the Street Fair and held up a booth there.  I got a lot of interested parties looking at the house pictures that I posted up and received a lot of inquiries.  The most welcomed one is the give away of the pocket diary and one old lady had literally lined up several times to get it.  I understand in the relatively poor area, many visitors liked to check if there were any “free” giveaways.  I remembered one year PG&E had given away free night light and Pacific Medical had given free emergency pocket packs.  This year, I did not see too much “free” giveaway but the weather is blessing, not windy.
Many non-profit organizations play a significant role in improving the livelihood of Visitacion Valley.  One obvious result is the improvements on Leland Street.  Currently San Francisco Water & Sewer Department had started updating all the sewers at Sunnyvale Street.  Visitacion Valley is notorious for its high crime rate.  Although there are many, many plannings in the development lining for this district, the most important issue is still how to lower the crime rate in the area.  Do you have any suggestions that we can do to help?

San Francisco is a multi-cultural city full of immigrants from all over the world.  Like many other Chinatown all over the world, the Chinatown at San Francisco is within a few minutes walk from downtown San Francisco where major headquarters and offices located.  This town is a major first stop from Chinese new immigrants to land.  Here they can speak Chinese, buy foods imported from all provinces of China and find a reasonable price logging.  It also has good public transport linked to different parts of City for their work.  No wonder the house price in San Francisco is comparatively speaking stable. Every year the 15th of August in Lunar Calendar is Mid-Autumn Festival.  This year it falls on today, September 12, 2011 that is one day after the 9/11.  In spite of the potential danger of going out on 9/11, lots and lots of people still enjoyed walking.
I feel very grateful that my son, unlike other teenagers, did not share the not so good American culture of “independence” and still willing to walk the fair together with me.  He enjoyed watching all different Chinese cultural stuff and volunteered helping to carry the “goodies” I bought.  I remember when I was at his age, 14, I did not have the concept of going out with parents is shameful or sign of independence.  The big issue in the American education is lack of moral training.  I can understand this might be difficult of USA is the mixing pot and people from different cultures barely mixed like salad.  However, there are some special moral concept about relationship between parents and children from China that categorize that children should pay special respect to parents and elderly.  I have followed this concept and I never talked back to my parents even though I did not agree to their points of view sometimes.
Putting on my hat of “realtor”, it is truly amazing how the real estate price had been supported by streams of new immigrants.  I have many clients who literally shipped their money from China to buy real estate properties in San Francisco and nearby cities.  No wonder, the house price at the Sunset district of San Francisco seems have not dropped much, maximum 20% which is nothing in comparison with other places.
Thank you for checking in with my blog and feel free to contact me if you have any real estate needs or opinions about this blog.

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The tuition fee for overseas student at the public or private universities could range 3 to 10 times of the local students with American identity.  However, if these overseas student gain  their local identity by becoming an investor immigrant, the fee they saved for those 4 years tuition could be as much as their minimum investment amount which is $500,000 easily.  Worth it or not?
Let us take a look.  The immigration attorneys typically will charge 10% of the total investment which maybe justified as they have to follow up with the process for up to 3 year long.  However, looking at the current real estate market, many properties had fallen to the 2000 level.  Again this have to be dependent on the location.
Lafayette is a  prestigous district that is only half an hour drive from UC Berkeley.  The medium price of Lafayette has dropped 23% from the year of 2006.  In the year 2006, the medium price is $16,141,000 and in the year 2011, the medium price is $1,240,000 and the lowest possible sold price is $820,000 which is never possible to find in the year 2006.
Overseas investors:  maybe this is your golden chance to invest in America NOW.

Image by Getty Images via @daylife

Hello my dear readers, please answer the following questions without peeking the answers first.
1.  Short Sale means the selling price is shorter than the seller’s loan amount, yes or no?
2.  Short Sale takes a longer time to process because it involves more than the seller’s decision, yes or no?
3.  Short Sale requires seller’s lender’s approval and this decision usually means the Bank, yes or no?
4.  The sold price of Short Sale property is lower than the fair market value, yes or no?
5.  Fair market value means the selling price of similar properties sold in similar locations within 3 months, yes or no?
6.  The parties involve in the Short Sale are: sellers, listing agents, buyers, buyer’s agents, seller’s lending institution, yes or no?
Do you get all yes?  So did I before I attended the Short Sales Seminar hosted by Chinese Real Estate Associationof America (CREAA) and presented by Elena Celestine of Bank of America today.
The answer to question no. 3 is no because while most people think that the seller’s bank has the major power to decide whether to approve the short sale transaction, in reality, the bank is only a third party who carry out the instructions from the investors behind the loan.   This also explain the complex communication path.  The listing agent has to negotiate with the “loan mitigation department” of the bank but the assigned negotiator is usually only a middle person and has to pass the information  to the investors.  Therefore, this is an extremely complex negotiation and it is more than what ordinary people think in the communication path.
The answer to question no.4 is yes and no.  Technically all sellers will not want their properties sold below fair market price and so do the seller’s lender.  However, market price is very dynamic and is determined by many factors.  Therefore, not only short sale properties, but all properties can be sold at market price, below market price or above market price.  Basically short sale properties and real estate own properties will involve more than one formal appraisals – one from the seller’s lender and one from the buyer’s lender.
The answer to question 6 is no because at least one more party will be involved, that is the investors.
1. yes    2. yes    3. no    4. yes or no    5. yes    6. no

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It is too easy to feel blue, down, discouraged and think in a negative way.  Whenever this is going to happen to me, I will turn myself to my “Happy Diary” .  I would brainstorm everything that I should feel happy about and write them down.
Here are a few things that I can easily think of.  Let me give you an example of today.
1.  It is a sunny day with clear sky, blue sky, white cloud.
2.  I have more clothes that I need whenever I open my closet, how rich am I.
3.  My kids are growing and they are healthy.
4.  I spare some time practice “Tai Chi”.
5.  I really look at least 10 years younger and I feel at least 20 years younger.
How about you?  What is your today’s happy diary?
I am a “happy” real estate agent who can help you move into a happy home.  Please feel free to visit or contact me.
Thank you for checking in.

I was approached today by a young couple who has been looking for a 3+ bedroom / 2 bath home in west San Mateo for less than $900k. From Crystal Springs Rd. in San Mateo to Ralston Ave in Belmont west of Alameda to Hwy 280. They are sure there are some hiding out there… Let me know if you are aware of anything not currently on the market under $900k in the areas mention – they are pre-approved and ready to buy!!!!!

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All we here about today is the media rambling on about all the bank REO’s (stands for “real estate owned”…means the same as repo, foreclosure or bank owned property, etc) that are out there in America, waiting to hit the market.  Mind you, they are not here yet, and have been promised for almost 3 years…and if we in the business hear the term “shadow inventory” one more time (the favorite media term meaning bank repos are heading our way), my head is going to spin!
It took me a while to get this information together….. But, here’s a little lesson on Bank Repos (REO’s).  There are a massive number of REO’s the banks are hiding, more on the way, and when the number of homes that are worth less than what is owed are figured into the mix, the amount of REO”s and potential REO’s  is mind blowing.  So as a real estate professional and consumer, I have this HUGE QUESTION:
Where are they? We have been hearing about this huge surplus of REO’s headed our way for over 30years, and they have yet to show up…and so my clients ask me all the time…Where are all these REO’s they keep hearing about?
Remember the old TV show with Bob Barker called, “The Price is Right” (My favorite game show), where contestants will often get to pick “potential” prizes behind certain “Doors”.  In the case of the missing REO’s, there are about 5 doors from which you can choose.
Door #1… Behind this door, the banks actually have their REO’s ready to go…they are just “waiting” for the best time to sell them.  Mind you, with the exception of the really depressed areas of the country, they are not waiting out of a concern for the neighborhood.  Banks can care less about people.   What they are waiting for is the best time to take the loss on their books and report it to Wall Street…because the DO care about that.  So…they parcel these properties out when it is best for them.
Door #2… Behind this door are the properties that the bank has foreclosed upon, but cannot take possession of because they are currently occupied by the former owner or tenant.  In this case, because the government has passed so many new rules and regs that are designed to “protect” the occupants of a foreclosed home, it can take another 6 months or more to get the home vacant for sale.  Those who side with the occupants feel that this added time beneficial to the former owner, and those that side with the banks think it is just a costly delay of the inevitable. The time time it takes to get an REO to the market for sale has doubled or tripled in the past 12-24 months.  Is that a GOOD thing or a BAD thing?
Door #3… In two words…”Bulk Sales”.  If a particular bank has a BUNCH of REO’s in the pipeline, there are large investment groups that will buy hundreds at a time from this particular bank.  From the banks viewpoint, they get to dump a lot of properties in one swoop and eliminate the hassle of selling them all one by one.  From the bulk buyers viewpoint, they get both the benefit of some really reduced prices on these homes (volume discount), and the opportunity to purchase them first.  Yes, they get the headaches that come with the properties, but to them its worth it.  Most of these houses are fixer uppers with some paint, new carpet or a new roof and is ready for someone to buy it.
Door # 4… The courthouse steps.  Here, savvy investors can purchase the property from the bank before the bank actually takes ownership.  These sales are done every day at courthouses through out California, and either investment groups or individuals can play…These purchases require lots of cash, research, and nerve…and there are still risks.  However, they have become quite popular, and many of the potential REO’s are sold here.  Some are kept as rentals to be sold many years down the road, but most generally return to the market fixed-up for sale as in Door #3 above.
Door #5… Short Sales.  In the beginning of this real estate market crash (mid 2007), there were very few short sales because the banks simply were not geared-up to handle the process.  Now, almost 4 years later, short sales make up a large part of the homes currently for sale.  In this case, the short sale is simply a REO in waiting, so when the bank chooses to accept a short sale price, they are simply getting rid of the “potential REO” earlier rather than later.  It never becomes an official REO so it will not appear on the REO stats.
The bottom line is, if you’re a buyer holding your breath waiting for the banks to open the REO flood gates, don’t hold your breath for too long  it’s NOT going to happen!!!  Time will tell if that remains the case, but for now, be aware…there are many ways these properties get to market other than as a bank owned REO. In the meantime, Short Sales over the next 2 years will increase.
With a documented 85% closing ratio on Short Sale negotiations and closings, I am more then qualified to answer your questions.  Call me for a consultation and I will be more then happy to help assist you with Buying or Selling a short sale.
Shantell Owens: (925) 594-0321
Related articles

Seeking REO Brokers for Launch of New National Foreclosure Program (donfharris.com)
HUD Monitors REO vendors (denisejonesy.wordpress.com)

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In my last post, I mentioned that my son went through shadowing of all schools that he was interested.  There was one in our neighborhood, Visitacion Valley, that I recommended him to shadow.  Visitacion Valley is notorous for its high crime rate and is part of District 10.  About 50% are African American, rest are Asian and Latinos, very little Caucasians.  From the public school fair, I learned that our neighborhood school Burton High School has coordinated with the career development programs.  These programs had been successfully implemented int  Galileo High School and had turned Galileo from a “so so” school into a good one.  Therefore, I attended Burton’s School Open House.   At the open house, there are very few parents & visiting student: only 2 Latino families, 2 Chinese families (including my son and I), 1 caucasian family and 0 African American.  The principal is young, energetic and enthusiastic.  He answered all our questions and showed a good cooperative attitude.   Long story cut short.  My son shadowed all the AP classes and his comments are the teachers are excellent and he liked them.  He also found the school campus and everything else is “OK”.  So, in my Choice of School form, we put down Burton High. 
Schools are like eveything else, changed all the time.  The principal is the soul of the school.  Very often when the new principal joins a “bad” school, s/he can introduce new elements and convert the “bad school” into “good school” gradually.  This had been the case for Galileo High and Balboa High.  I am now seeing this sign for Burton and Mission High.
Thank you for checking in with me.  Happy Holidays!
Tina To, real estate agent serving San Francisco and Peninsula area

Elaine King is one of the nicest and helpful people I have the honor of knowing.
Being one of our very own licensed Realtors, Elaine sets a high standard for us all, especially when a homeowner speaks so favorably of her… even when the property Elaine represented ultimately failed to sell.
No fault to Elaine, this short-sale fell through because the lender(s) did not agree on terms.  Elaine’s client were so impressed with her, they were compelled to willingly offer the following letter of praise:
Dear Elaine,
We wanted to take a moment and thank you for all your diligent efforts in our recent attempt to short sale…
Although we were unable to come to an agreement with the lenders, it was not due to a lack of hard work and effort on your part. You certainly went above and beyond any duty to assist us, especially considering the tasks you completed on our behalf since we were out of state.
You are a true professional and we both wish you all the best luck in your future endeavors. Anyone who works with you will find it a true pleasure.
Thanks again,
Cecile E., Brenda C.
We are so happy that our Realtors foster such strong, lasting relationships with our clients.  Keep up the good work!
http://www.elainekingsellshomes.com

Hello,
Here is the new real estate overview as per Trulia:
Livermore Summary
Average price per square foot for Livermore CA was $231, a decrease of 2.1% compared to the same period last year. The median sales price for homes in Livermore CA for Jan 10 to Mar 10 was $378,100 based on 243 home sales. Compared to [...]

Hello,
Here is the new real estate overview as per Trulia:
Livermore Summary

Average price per square foot for Livermore CA was $231, a decrease of 2.1% compared to the same period last year. The median sales price for homes in Livermore CA for Jan 10 to Mar 10 was $378,100 based on 217 home [...]

Hello,
Here is the new real estate overview as per Trulia:
Livermore Summary

Average price per square foot for Livermore CA was $235, a decrease of 2.9% compared to the same period last year. The median sales price for homes in Livermore CA for Dec 09 to Feb 10 was $375,000 based on 347 home sales. Compared to [...]

Hello,
This one is short and simple!!
If you are ready to buy a house but you don’t know who to call.
If you are willing to by a house  and you need guidance.
And if you are able to buy a house because you have been pre-approved,
then you just have one more thing to do:
CALL ME!!!! 510-305-3254.

That’s [...]