Nothing can be more shocking or discouraging than to plan to purchase your perfect home, and find out that the lenders have rejected your application because you have some credit problems.  It is entirely possible that you may not know that you have them, because you have not checked your credit in a long time, or at all.  Many new buyers are unsure about how to go about it, or have heard conflicting reports about doing so.

Whether you are buying a Piedmont home, an Oakland home, or any home, you need to know where you stand financially.  Even if you have been paying all your bills on time,  and not exceeding your credit limits, there may be items in your report that are there due to the fact that they may have been incorrectly entered by the credit…

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While it is my job as your agent to sell your Piedmont home, there are many things that you, as a seller, can do that will move the process and the negotiations along sucessfully.  Here are some ideas:

1. Know What Your Property Is Worth--You are considering selling your home.  One of the most important first steps that you should take is to go my website, or to the various real estate web sites like Trulia or Zillow, and get a sense of what homes like yours are selling for today.  You will be amazed at the wealth of information available.  It may be a shock to you.  If you bought your home at the peak of the home selling cycle a few years ago, you will become aware that your home may not be worth what you want it to be.  If you have a true sense of…

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One of the jobs of Fannie Mae and Freddie Mac is to guarantee home loans to lenders who make them.  When loans are made through either of these entities, the lender can feel safe that through these agencies their funds will be insured and guaranteed against default by their borrowers.

These agencies do not insure these loans for free, however.  They, like any other insurer, charge the lenders a fee for this insurance.  The fees vary from year to year, and are called "guarantee fees" (g-fees). As announced last week by the Federal Housing Finance Agency (who regulates both agencies), a new increase is due to go into effect between November 1st and December 1st of this year.  It is estimated to be a 0.5 percent increase in the mortgage rates no matter…

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One of the most important steps in preparing to sell your Oakland home is to price it correctly from the outset.  Putting too high a price on your home is the fastest way to have it sit for months on end, and have potential broker and buyer interest dwindle as the weeks wear on.  Many sellers already have an unrealistic price in mind before they even begin to contact a broker to sell their home. Below are some ideas to assist in that consideration.

Here Are A Few Steps To Take When First Deciding How to Price Your Home:

1. Do Your Homework First:  With a wealth of web sites devoted to real estate properties for sale, it is impossible not to locate information about home prices in your market area. The Sunday newspaper, every real estate brokerage…

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One of my jobs as your listing agent is to assist you in pricing your home correctly in order to attract the most interest among potential buyers and area brokers.  It is important that you consider the problems that can arise if you overprice any home, whether it be a Piedmont home, a Berkeley home, or an Oakland home.

Here are the basic problems to consider before deciding on your final price. Should you overprice:

a. There Will Be No Showings:  With the Internet available to everyone, today's buyers are very sophisticated as to comparable pricing.  In fact, many real estate web sites will furnish them with comps at the click of a mouse.  They, and their broker, will know very quickly when a house is overpriced.  They will not want to see or…

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As the result of a recently published analysis of various housing markets, Zillow-a multi use real estate web site, has concluded that the San Francisco Metropolitan Area is the second best area in the United States for home sellers.  The first area is the San Jose Metropolitan Area-not too far away.

Since the San Francisco Metropolitan Area, by definition, includes Oakland homes, Piedmont homes and other East Bay cities, that is encouraging news for those making plans to sell a home in our area. 

The criteria, for defining a seller's market, according to Zillow, is "one where sellers are more likely to sell their home for close to asking price, and where listings spend less time on the market."

Obviously, this situation varies from city to city,…

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In a previous blog, I stressed how important is is to have your home inspection done before you put your Piedmont home on the market.  It will give you a sense of how ready you are to sell, help with proper home pricing, and motivate you to fix things first, before potential buyers discover them, causing future negotiation issues.

While this is not a comprehensive list, I would like to give you a general idea of some of the most important things that the inspector will be checking on the inside of your home:

1. Heating and Air Systems:  Are they efficient?  Do they serve your needs, or are they worn out?  Have you replaced your filters on both at least once a year?  When was the last time they were inspected?

2. Ducts and Vents:  These are…

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Sooner or later, every buyer has to submit information to a lender regarding their credit history.  This information will be critical as a means by which a decision will be made as to whether the potential buyer will qualify for the loan to purchase their future home.  This is a time that makes many people anxious because they are not quite sure how their credit is evaluated. So, whether you are considering a Piedmont home or an Oakland home, the format remains the same. 

Right now, 90% of the largest banks use what is called a FICO score to make that decision.  This FICO score is used throughout the industry to determine your mortgage rate, as well as your car loan and your credit card monthly interest fee. 

This credit rating is a number that is…

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In Part 1, we talked about making sure that your financial offer was strong and attractive. 

In Part 2, we will talk about the issues that will develop in buying your Piedmont home, and how to deal with them--that is, dealing with contingencies.  Together, we will spend time, before submitting the offer, deciding what will be the shortest and simplest list of contingencies that would be acceptable to you, and potentially, to the seller.

Sellers want to move on with their lives once they make the decision to place their house on the market.  Quite often, they will need the money from the sale to assure the funds for the purchase of the new house that they have selected.  As a result, if they have a choice between an offer with a long list of…

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You have seen the Piedmont home that you want to buy.  It has the special features that you want your future home to have, and looks just like the home that you want to make your own.  The only thing standing in your way is your competition--other potential buyers.  Right now, in many areas, the inventory of homes on the market that are reasonably priced, and in acceptable physical condition is extremely limited. In some neighborhoods, the "bidding war" has begun.  As a result, it becomes important to get your offer seriously considered, and then accepted promptly, if you want to assure that you will have this property for you and your family.

Here is where I, as an experienced real estate agent, can assist you in getting what you want.  Here are the…

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