Musings of a Career Consultant

SoCal Texan in Bmore Leading Rock Stars

I was on the radio… Again! :) July 5, 2011

I love doing these radio shows for the Real Cents Radio Network on KTIE 590 in San Bernardino County! It’s so awesome to send out so much good information! We talked about “The Good, The Bad and The Ugly” in today’s real estate market. I just wanted to jot down a few of my thoughts should you have missed the show:

The Good? Affordability is at an all-time high. Home prices have declined month over month since July ’06 and rents have increased month over month since then. Also, interest rates are super low (even though they’ve started a small creep that will turn into a steady walk by the fall). And, with 35% of Buyers being 1st-timers, it’s good to know you’re not the minority!

The Bad? Last year’s appreciation is gone. Real prices are still high in some areas and condo sales decreased 8% last month but I know we’ll post a bigger decrease  due to the expiration of FHA Approval on a lot of complexes. We’re at 2000 prices per Case-Shiller and the higher end could still see a hit as we roll into the 2nd half of the year.

The Ugly? The percentage of homeowners that are underwater has stayed the same since the 1st quarter of ’09. What’s that mean? Even with all of the REO and Short Sale homes that have been bought up, we’re still seeing a steady stream feeding the market i.e. we’re not done yet. (Personal opinion: We won’t be for another 3 years.) Experts think it could take us 5-6 years to fully pull out of this. Inflation will then happen at a slow 2% and unemployment will remain high (which is why our recovery will be so slow).

What can you do to help me help you? Click this link and take a few seconds to fill this in and fight for your right to Affordable Mortgages. The government is considering making the minimum down payment 20% which would cripple our already fragile housing market (especially in areas like SoCal). They’re also talking about pulling out of the mortgage market. Privatization wouldn’t be good for anyone involved.

Should you have any questions about anything you’ve read here or if you’re interested in any city in Southern California (particularly the San Gabriel Valley or Inland Empire), please feel free to call your favorite REALTOR Smile

And, I can always send you a FREE Market Analysis on your home, just ask.

 

More Real Housewives Hit, too May 18, 2011

Wouldn’t you die to live here?

Well, Lisa Vanderpump is over it. Her and her husband have listed their home for a a cool $29M… That’s right!

According to tax records, it boasts 8 bedrooms and 9 bathrooms in the exclusive 90210 zip code. In addition to the tennis court and pool you can see, it also boasts a wine cellar, pool room and opulent gardens. And, I know what you’re thinking… this doesn’t look nearly big enough! At a measly 15,480 SF and sitting on a 2 acre lot, you’ll have to make do.

None other than Kyle Richards’ husband, Mauricio Umansky, is the listing agent. They bought the home in 2004 for dainty price of $14M. Does it surprise anyone that like many other families in SoCal that mortgaged their homes to keep themselves afloat that Ken and Lisa have been pulling out money over the last few years?

Should you have any questions about anything you’ve read here, would like more details about Beverly Hills or if you’re interested in another city in Southern California (particularly the San Gabriel Valley or Inland Empire), please feel free to call your favorite REALTOR Smile

And, I can always send you a FREE Market Analysis on your home, just ask.

Some of this information was obtained through Yahoo! Real Estate.

 

Have $2.7M? Want TV Home? April 20, 2011

One of my favorite Real Housewives is selling her gorgeous home! Why? She’s going through the big “D” and don’t mean Dallas… Divorce for the Gunvalsons!

This charming (at 5,400 SF that you have to verify) home boasts 5 bedrooms and 6 bathrooms and sits on just about an acre of land.

Think it might be too much to commit to the mortgage? Just rent it for a paltry $9,500/month!

Here’s the famous stairs and her office:

Here’s her kitchen… still don’t understand the rooster…

Here’s the pool her son was always drinking in with his friends:

Gotta love this backyard!

Interesting side note: she’s not on title…

All information was obtained through the MLS (except for my tidbits from watching Bravo‘s show).

Should you have any questions about anything you’ve read here, would like more details about Coto de Caza or if you’re interested in another city in Southern California (particularly the San Gabriel Valley or Inland Empire), please feel free to call your favorite REALTOR 😉

 

April 30th & May 1st April 30, 2010

These are very big days any home Buyer. April 30th marks the last day a Buyer can be in a fully executed Contract and qualify for the Federal Tax Credit. And, May 1st marks the beginning of the California Tax Credit. Some, but not many, will actually get both credits for up to $18,000 in credits! This is huge and has brought an onslaught of Buyers to the table. Those that were on the fence, jumped off. But what does the end of these credits mean?

Well, interest rates and home prices will remain low. In fact, some Buyers might walk away for a while and save up some more (money) before writing (offers) again so we might see a dip in the market over the summer (which is highly unusual). We won’t really know what these credits coming and going will mean until they’ve already come and gone.

My advice, as always, is to buy only when you’re willing and able. If you try to push yourself into homeownership, you could find yourself in over your head. It’s a huge responsibility and if you’re not mentally and financially prepared, it can quickly be more than you’re prepared to handle. Best rule of thumb for my renters is to figure out what your mortgage would be and start saving the difference between your rent and the mortgage amount. Not only will this prepare you for the mortgage payment each month but you’ll begin building your down payment amount!