Some of my clients have been asking me now about a "tax" that is supposed to be imposed on all real estate transactions soon, in order to pay for a (small) part of the health care reform law of 2 years ago.
I thought I would post this link to the National Association of Realtors web site article that clarifies this concern. This is a very limited tax event, if and when it applies.
Francis
PS: I recently posted a link to the "Full Circle Farm Glean Team" in Sunnyvale, for those who have extra fruits to give away, extra fruits growing in your backyard. A friend of mine pointed out to me that in Mountain View there is also the CSA where you can donate extra fruits in the same manner:
http://www.csacares.org/ Our Community Services Agency who says:
" Backyard Gardeners: Bring in homegrown produce to CSA "
Sound Real Estate information for the mid-peninsula of San Francisco: the Silicon Valley.
Coldwell Banker Realty - Los Altos -
Realtor - CalRE# 00896319
Monday, February 27, 2012
Thursday, February 16, 2012
Local zip codes ranking by wealth ...
How do the local zip codes rank by wealth, as compared with all zip codes nationwide??
Just for mere curiosity, here is a short list of most of the local ones, sorted out by median disposable income, in 2010:
Atherton - 94027 - ranks # 1
Los Altos - 94022 - ranks # 4 nationwide
Portola Valley - 94028 - ranks # 7
Saratoga - 95070 - ranks # 18
Los Altos - 94024 - ranks # 23
Los Gatos, 95030 - ranks # 43
San Jose - 95120 - ranks # 65
Palo Alto - 94301 - ranks # 138
Cupertino - 95014 - ranks # 194
Palo Alto - 94306 - ranks # 329
Sunnyvale - 94087 - ranks # 458
The complete list appeared in the December 2 issue of the Business Journal.
useful links
Current Mortgage rates
Friday, February 10, 2012
What is considered a bedroom?
Little question, big answer...

Without going into the details of exact dimensions, which of course make a big difference, we can say that the following characteristics have to be there, at the very least:
- there needs to be heat, and electricity
- natural light, and ventilation,
- a smoke (- and possibly a CO) detector,

There are a few more requirements, like the size of the windows, spacing of the electrical outlets, a minimum of heat, but among all these criteria, believe it or not, a closet is not a must, although it is often considered such by real estate agents ... A good source of info is always your local building department.
Have more input on the matter, or a story to share? Feel free to chime in, I love stories...
Francis
useful links
PS: worthy cause: have you considered donating your extra fruits this season (if you have fruit bearing trees)?
contact: FullCircleSunnyvale.org
Saturday, February 4, 2012
Facebook and the Silicon Valley Market....
Everyone is speaking of the effect of the Facebook IPO on the real estate market around here. This is an interesting article that I wanted to share:
Coldwell Banker "Table Talk".
I have already experienced in all my activity in Palo Alto a definite "tightness" of the market. Several of the offers that I have placed recently met with many other offers, most of them very strong (like in: - cash! and very much over asking price).
PS: worthy cause: have you considered donating your extra fruits this season (if you have fruit bearing trees)?
contact: FullCircleSunnyvale.org
Coldwell Banker "Table Talk".

Francis
useful linksPS: worthy cause: have you considered donating your extra fruits this season (if you have fruit bearing trees)?
contact: FullCircleSunnyvale.org
Thursday, February 2, 2012
Silicon Valley Luxury Home Prices Jump in December ...
Luxury home prices in Silicon Valley moved higher once again last month as the region’s high-end market continued to gain momentum, according to Coldwell Banker Residential Brokerage, the South Bay’s leading provider of luxury real estate services.
The median sale price for a million-dollar-plus home in Santa Clara County reached $1,471,000, up 8.9 percent from a year ago and 6 percent from November, when it stood at $1,387,000. ....
....Turley said the challenge for the South Bay’s real estate market continues to be a shortage of homes for sale, not lack of buyers.
“I think it’s important for sellers to get the message that the market is getting better in many areas and there are buyers willing to pay competitive prices for homes,” he said. “If you’ve been thinking about putting your home on the market, you shouldn’t wait any longer. It’s time to jump in.” .....
See the full article on this Coldwell Banker Residential Brokerage Report.
FrancisFriday, January 27, 2012
Voters place high value on homeownership !
Voters place high value on homeownership.
By an overwhelming margin, American voters strongly value homeownership and would oppose efforts to weaken or eliminate the mortgage interest deduction or diminish a federal role to help qualified home buyers obtain affordable 30-year mortgages, according to a national survey conducted on behalf of the National Association of Home Builders. The survey gauged voters’ attitudes towards homeownership and housing policy issues.
The poll shows that three out of four voters – both owners and renters -- believe it is appropriate and reasonable for the federal government to provide tax incentives to promote homeownership. This sentiment cuts across regional and party line.
Highlights of the survey include:
Two-thirds of respondents say that the federal government should help home buyers to afford a long-term or 30-year, fixed-rate mortgage.
Nearly 75 percent of voters oppose eliminating the mortgage interest deduction.
Sixty-eight percent would be less likely to vote for a congressional candidate who proposed to abolish the deduction.
Ninety-six percent of homeowners are happy with their decision to own, and 84 percent who are “underwater” expressed the same sentiment.
Job uncertainty and saving for a downpayment and closing costs are the biggest barriers to buying a home.
More info on this article from the National Association of Home Builders.
Thanks for reading !
Francis
useful links
Current Mortgage rates
By an overwhelming margin, American voters strongly value homeownership and would oppose efforts to weaken or eliminate the mortgage interest deduction or diminish a federal role to help qualified home buyers obtain affordable 30-year mortgages, according to a national survey conducted on behalf of the National Association of Home Builders. The survey gauged voters’ attitudes towards homeownership and housing policy issues.
The poll shows that three out of four voters – both owners and renters -- believe it is appropriate and reasonable for the federal government to provide tax incentives to promote homeownership. This sentiment cuts across regional and party line.
Highlights of the survey include:
Two-thirds of respondents say that the federal government should help home buyers to afford a long-term or 30-year, fixed-rate mortgage.
Nearly 75 percent of voters oppose eliminating the mortgage interest deduction.
Sixty-eight percent would be less likely to vote for a congressional candidate who proposed to abolish the deduction.
Ninety-six percent of homeowners are happy with their decision to own, and 84 percent who are “underwater” expressed the same sentiment.
Job uncertainty and saving for a downpayment and closing costs are the biggest barriers to buying a home.
More info on this article from the National Association of Home Builders.
Thanks for reading !
Francis
useful links
Current Mortgage rates
Tuesday, January 17, 2012
Housing Taxed to Pay for Extension of Benefits...
Housing Taxed to Pay for Extension of Benefits .. things that go under the radar if you don't pay attention ...
The law signed by President Obama two weeks ago to extend the payroll tax cut and maintain Medicare payments and unemployment benefits uses increases in the fees charged by Fannie Mae and Freddie Mac to guarantee mortgages to help offset its costs. The law also uses funds from premiums charged for insurance on FHA loans. As a result, the Federal Housing Finance Agency has directed Fannie Mae and Freddie Mac to increase their guarantee fees effective April 1 and will remain in effect through September 30, 2021.
The National Association of REALTORS® (NAR) opposed the increase in fees to pay for non-housing-related purposes. Lenders who choose to pass this increase on to borrowers will likely increase the rate offered to a borrower by .1 percent sometime before April 1. Analysts estimate the increase in cost over 30 years to be between $4,000 and $5,400 on a $200,000 loan, or $11-15 per month.
The law signed by President Obama two weeks ago to extend the payroll tax cut and maintain Medicare payments and unemployment benefits uses increases in the fees charged by Fannie Mae and Freddie Mac to guarantee mortgages to help offset its costs. The law also uses funds from premiums charged for insurance on FHA loans. As a result, the Federal Housing Finance Agency has directed Fannie Mae and Freddie Mac to increase their guarantee fees effective April 1 and will remain in effect through September 30, 2021.

Well, it's always better to be informed..
Francis
Wednesday, January 11, 2012
Refinance Program for Underwater Borrowers - more info...
To add more info to one of my previous blogs ( "Refinancing problems? Here is a suggestion" ) on the refinancing options for people owing more than the value of their home, I'd like to reproduce the information I just received from Joan Fischer from First American Home Buyers Protection (a home protection plan company), which originates from DSNews.com (Authors: Krista Franks and Carrie Bay).
A little long, but of great interest for some people.
Francis
A little long, but of great interest for some people.
Francis
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