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Did you know that if you are upside down on your home and process a short sale, that the amount that the bank forgives is scheduled to become taxable in 2013? That means that, for example, if the bank forgives say, $100,000 in order for you to sell you home, that $100,000 would be taxed at your tax rate. For a person in the 25% tax bracket that means they would owe $25,000 to Uncle Sam. If you are having trouble making your payments, I can think of no better reason to do a short sale in 2012. Contact us today. You do have options!
Tags: Business, CDPE, Distressed Property, Financial services, foreclosure, loan, Real Estate, Short, Tax
Posted in Interest Rates, Real Estate, San Francisco, foreclosure, short sale
Here’s a great article that is well worth your attention as you face the new year. Banks are embracing and staffing up for the coming short sale boom. The banks are embracing the short sale as a way for them to save money as they have found that they lose significantly less on a short sale vs a foreclosure. There will be more short sale opportunities 2012 than there were in 2011. Read more about it here: Short sales set to explode in 2012. If you know anybody who is upside down on their home and can’t afford their payment, there is hope for them. Do to www.morethanashortsale.info or call us at 925-408-2911. People who are underwater in terms of their mortgage vs value do have options. Contact us and let us help. Collectively we have successfully packgae over 500 short sales. Our broker, Steve Holderfield, has received a certification a CDPE, Certified Distressed Property Expert and has personally packaged over 500 short sales. The sooner we are contacted the more options we can pursue for you. So don’t delay. Contact us today. 
Posted in General
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For the fifth consecutive year, Nevada continues to have the highest foreclosure rate in the country, despite a 31 percent drop in the state’s foreclosure activity from 2010 to 2011, RealtyTrac reports.
Several states continue to see a large amount of foreclosures, which are putting downward pressure on overall home prices.
The states with the highest foreclosure rates for 2011 are:
1. Nevada: 6 percent (1 in 16 housing units received at least one foreclosure filing in 2011)
2. Arizona: 4.14 percent (or 1 in 24)
3. California: 3.19 percent (or 1 in 31)
4. Georgia: 2.71 percent (or 1 in 37)
5. Utah: 2.32 percent (or 1 in 43)
6. Michigan: 2.21 percent
7. Florida: 2.06 percent
8. Illinois: 1.95 percent
9. Colorado: 1.78 percent
10. Idaho: 1.77 percent
Nationwide, 1 in 69 housing units or 1.45 percent of home owners received at least one foreclosure filing during 2011, which is down from 2.23 percent in 2010, RealtyTrac reports.
Source: RealtyTrac
Tags: default, foreclosure, United States
Posted in General
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There are 2 answers to this question. 1. Home values are likely to fall another 4 to 5%. 2. It depends on many factors. Most economists seem to agree that 2012 is likely to be a flat to slightly down market in terms of values. However, we do seem to be hitting the bottom in terms of the the dropping values. Also, the number of foreclosures in the California has dropped over 14% in the last year. The number of successful short sales rose 25% of all sales in California last year from 18% in 2010. It is expected that the number of short sales to continue to rise in 2012. The other wild card is next year’s Presidential election which could bring much needed certainty back to businesses and the financial markets which could positively affect job growth. So 2012 will be fun to see unfold. If you or somebody you know needs to buy or sell any Real Estate, please contact me with a name and phone number. I’d be happy to bring my over 30 years of real estate experience to the effort. Have a great New Year! More info here: http://realtormag.realtor.org/daily-news/2011/12/28/what-s-in-store-for-housing-in-2012
Tags: 2012, California, financing, Market, Mortgage loan, predictions, Real Estate, Realtor, short sale, United States
Posted in General, Real Estate, San Francisco, foreclosure, short sale
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I’ve been in the real estate business for some 33 years. Over that tenure I have endured some pretty daunting markets. In the past I could always point to one or two problems that, once overcome or fixed in some way, would improve the market. It always felt as though it was just a matter of time before things got better. I have to be honest and say this recession has been different. I have been unable to identify the one or two problems that need to be overcome that will make tings start moving again. I just read this article and it is quite obvious that our problem is jobs: http://economistsoutlook.blogs.realtor.org/2011/10/07/job-growth/.
For me, jobs, are not some dead end, temporary government funded stimulus attempt by some Washington bureaucrat, but real, career building, long term employment that an employee can strive at and achieve the rewards that we all desire. Until we see that kind of change in the job market, we are in for more of the same… falling incomes, high unemployment, more foreclosures, etc. The jobs are out there and will be created once our Government gets out of the way and empowers our job creators with lower taxes, certainty about the future costs of running a business, less government regulations, etc. At least that is my opinion.
Tags: Business, Employment, Job Search, Labour economics, Unemployment, United States, Washington
Posted in General
http://economistsoutlook.blogs.realtor.org/2011/09/28/financial-industry-corporate-profits/
Why? Uncertain regulation by the Feds. Our current administration needs to, in my opinion, find ways to provide confidence in our markets and the future. Unfortunately, I think this means the need to cut the government spending back to the Clinton levels. We just cannot sustain the current spending levels. Another thing that could be done is to get rid of all this overregulation and red tape… Let’s start bt appealing Obama Care!
Tags: Bank, Barack Obama, Federal Reserve System, Financial institution, Financial services, President, Red tape, United States
Posted in General, Interest Rates, Real Estate, San Francisco, foreclosure, short sale
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Weren’t we assured that home values were destined to go up and up and up? Failed assurances are on the news every night.
Here’s the bottom line: the choices that
homeowners make when they feel they are at the end of their rope will have ramifications for years to come on their ability to qualify for credit, their job prospects, their
security clearance and their overall
finances. When a family’s financial trajectory is rapidly heading in a negative direction, there’s no substitute for the helping hand of a knowledgeable expert who has the integrity, the experience and the training to reverse the course—someone who is tapped into regulatory initiatives and can separate fact from fiction.
It is my mission to serve as a credible source of information and perspective to homeowners who have found themselves in a tough situation and need help sorting through their options. That’s why I sought out the Certified Distressed Property (CDPE) designation—the most renowned and recognized credential in the distressed property field, and it’s why I continue to stay on top of regulatory and industry developments that impact options available to homeowners who are struggling with their current financial situations.
My message to homeowners who do not know where to turn: there is hope. Foreclosure is not inevitable and neither the government nor your bank wants to see that happen. No one expected to find themselves on the brink of
foreclosure, but I have worked with countless clients who have managed to turn their financial trajectory around and get on a path of financial recovery.
It CAN be done! And it would be my privilege to help. I have help many homeowners avoid foreclosure and I can help you. I have assembled a team that can help you through the short sale process, help you with repairing your credit so that in a short time you will be ina position to own a home again. Call, we can help!
Tags: Business, Finance, foreclosure, Great Recession, Jobless recovery, Real Estate, Realtor, Recession shapes, short sale, Team
Posted in General
The Italian District of San Francisco which is more commonly known as North Beach is bordered by Chinatown and Fisherman’s Wharf, in a valley between Russian Hill and Telegraph Hill.
Famous Washington Square is overlooked by the equally famous Saint Peter and Paul’s Catholic Church. the square is one of the few open space public parks in The City. North beach is home to many fun and authentic Italian resturants, delis and bars. There’s usually a crowd at Washington Square and local characters abound.
I remember having late night nighcap at Washington Street Bar and Grill after a Giants game. I have a bunch of fun memories frpm North Beach. For example, I make a semi annual olive oil and Italian spice run to Little City Market located at 1400 Stockton St. (between Vallejo St & Card Aly) in North Beach… This is an authentic Italian butcher shop that also makes great sausage and has some of the best Sicilian Olive oil in the world. Highly recommended. 
The stinking Rose prepares Italian dishes containing large quantities of garlic. It’s a must see attraction for dinner.
North Beach has many sights to see like this shot of the Transamerica Building from the crosswalk on Columbus.
Whether it’s fine dinning, vintage architecture, ineteresting people, authentic Italian cooking ingredients or just a nice stroll through the park, the Italian District of San Francisco has a lot to offer.
usrealestate.com
Tags: Catholic Church, Fisherman's Wharf San Francisco, North Beach San Francisco, Russian Hill San Francisco, Saint Peter, San Francisco, Telegraph Hill San Francisco, Washington Square Park
Posted in General, Gold Rush, Historic, Landmark, Real Estate, San Francisco
If you ever driven down Market Street towards the water, you’ve probably noticed a San Francisco landmark, the San Francisco Ferry Building. Here’s a link to a map: Map. The clock stopped when the Loma Prieta earthquake hit on on October 17, 1989, at 5:04 p.m. PST and stayed that way until repaired awhile later. It was a gentle reminder of what we all went through that day, here in the Bay Area. The present structure, designed by local San Francisco architect A. Page Brown, opened in 1898, replacing its wooden predecessor, and survived both the 1906 earthquake and the 1989 earthquake with amazingly little damage. Until the completion of the Bay Bridge and Golden Gate Bridge in the 1930s it was the second busiest transit terminal in the world, second only to London’s Charing Cross Station. It served as the embarcation point for commuters to San Francisco from the East Bay who rode the ferry fleets of the Southern Pacific and the Key System. A loop track existed in front of the building for streetcars. A large pedestrian bridge also spanned the Embarcadero in front of the Ferry building until the late 1940s.
After the bridges opened, and the new Key System trains began running to the East Bay from the Transbay Terminal in 1939, passenger ferry use fell sharply. In the second half of the twentieth century, although the Ferry Building and its clock tower remained a beloved part of the San Francisco skyline, the building interior declined. Over the years, the ticketing counters and waiting room areas were partitioned into office space. The formerly grand public space was reduced to a narrow and dark corridor, through which travelers passed en route to the piers. Passengers had to wait on outdoor benches, and the ticketing booths were moved to an area on the pier.
With the construction in the late 1950s of the Embarcadero Freeway which passed right in front of the Ferry Building, views of the once-prominent landmark from Market Street were greatly obscured and pedestrian access to it became somewhat of an afterthought. When this double-decker elevated structure was demolished in the aftermath of the 1989 Loma Prieta earthquake and replaced with a ground-level boulevard, the barrier, both literal and psychological, between a significant portion of San Francisco’s historic waterfront and the rest of the city, was now gone, and access to Justin Herman Plaza and the foot of Market Street, which the Ferry Building had been such an integral part of for so many decades, was restored.
Here’s a video from after the 1906 Earthquake: video.
Tags: East Bay, Embarcadero, Golden Gate Bridge, San Francisco, San Francisco Bay Area, San Francisco Ferry Building, Transbay Terminal
Posted in General, Historic, Landmark, Real Estate, San Francisco
Located at the foot of the Golden Gate Bridge is a real piece of history. Fort Point, located literally under the bridge guards the entrance to San Francisco Bay. Fort Point was built between 1853 and 1861 by the U.S. Army Engineers as part of a defense system of forts planned for the protection of San Francisco Bay. Designed at the height of the Gold Rush, the fort and its companion fortifications would protect the Bay’s important commercial and military installations against foreign attack. The fort was built in the Army’s traditional “Third System” style of military architecture (a standard adopted in the 1820s), and would be the only fortification of this impressive design constructed west of the Mississippi River. This fact bears testimony to the importance the military gave San Francisco and the gold fields during the 1850s.
Although Fort Point never saw battle, the building has tremendous significance due to its military history, its architecture, and its association with maritime history.
In the years after the Civil War, Fort Point became underutilized and was used intermittently as an army barracks. The pre-Civil War cannons, so valuable when they were originally installed, became obsolete and were eventually removed. During World War II, the Army remodeled Fort Point for use as a detention barracks, though the building was never ultimately used for that purpose. During the 1920s, the property was used by the Presidio for housing unmarried officers and different military trade schools.
In the late 1930s, plans for the construction of the Golden Gate Bridge also involved plans for the demolition of Fort Point. Fortunately, Chief Engineer Joseph Strauss recognized the architectural value of the Fort and created a special engineer arch which allowed the construction of the bridge to occur safely over the Fort. During World War II, Fort Point was once again used as temporary housing for soldiers. After World War II, the movement to preserve Fort Point for its historic and architectural value began to grow. Over the next 20 years, support for the preservation movement waxed and waned. In 1959, a group of retired military officers and civilian engineers created the Fort Point Museum Association and lobbied for its creation as a National Historic Site. On October 16, 1970, Fort Point became a National Historic Site.
Many times, when the waves are just right you will see surfers enjoying the waves right near the historic fort.
Here’s directions to the Fort:
http://www.nps.gov/fopo/planyourvisit/directions.htm
And here;s a google map:
http://maps.google.com/maps?f=d&utm_campaign=en&utm_medium=ha&utm_source=en-ha-na-us-sk-dd&utm_term=directions
Tags: Fort Point San Francisco, Gold Rush, Golden Gate Bridge, Joseph Strauss, Mississippi River, National historic site, San Francisco, World War II
Posted in General, Gold Rush, Historic, Landmark, Real Estate, San Francisco
