Tag Archives: buying

“Sensibility And Overall Likability Are A Winning Combination”

I just wrapped up a deal with some buyers in NOPA, and this is what they had to say about working with me:

Great agent. Not only did Alex stick by us through multiple offers but finally landed us our new home even though we weren’t the highest bidders and we were up against all cash offers. By really getting to know us and meeting with the sellers agent at offer time Alex was able to position us as the best fit for the home. His knowledge & navigational skills through this unpredictable market combined with a down to earth sensibility and overall likability are a winning combination. Thanks Alex – we look forward to hosting you at our moving in party!! Lauranne, Mike and Mary

Thanks guys! Looking forward to beers and barbecue. I’ll bring Tequila!

Here We Go Again With The Lending

Intercepted from inter-office emails:

Great News,
We are now offering Fannie’s new HomePath loan program! Let your clients know these improved loan terms to generate new business. Essentially, the program has the clients using Fannie loans to buy foreclosed properties owned by Fannie, therefore Fannie gives improved loan terms to the buyer.
PROGRAM HIGHLIGHTS:
-97% FINANCING WITH NO MORTGAGE INSURANCE ( That’s a lower monthly payment and lower closing costs)
-90% FINANCING ON INVESTMENT PROPERTIES
-NO APPRAISAL REQUIRED SAVING YOUR CLIENT TIME AND MONEY (Value is selling price determined by listing bank)
-CONDO’S AND 2-4 UNITS OK
-TODAY’S HOMEPATH 30 YR RATES AT 5.0%, 5 YR ARM’S AT ONLY 3.875% !!
TO SEE A ELIGIBLE PROPERTIES IN YOUR AREA SIMPLY GO TO WWW.HOMEPATH.COM

Email or call me with client loan scenario’s that can benefit from this awesome program.

Successfully [not Sincerely],

[Loan Guy]

It seems we’ve heard this before?

It’s A Great Time To Be A Buyer

I’ve been thinking a bit about our cliche Realtor statement that now is “a great time to buy”, and I’ve come to a conclusion:

Now is not necessarily a great time to buy, as prices may continue to fall, credit is likely to continue to dry up, and the global recession only looks to be getting worse instead of better (poor Obama inherited a big mess didn’t he, and my iPhone continues to see red), but it IS a great time to be a buyer.

When I started in this business only 6 years ago, I never in a million years thought I’d see homes get into the “affordable” level again. Every single client I worked with could expect, without a shadow of a doubt, to have to offer way over asking price on a home, compete with at least 10 other buyers on every property, and strike out at least 5 times before the home of their dreams (usually only 80% of their dreams, because perfection was not to be had) became a reality. True, “affordable” is a relative term, but for the buyers that thought owning a home in San Francisco would only ever amount to pipes full of dreams, your day may soon be here.

I’m hearing from buyers that are literally coming out of the shadows (they’ve been reading sfnewsletter for quite a while), and they’re licking their chops. New developments are slashing prices, offering incentives, literally telling me “make an offer”, and prime homes are starting to trade for much less than anyone expected, and some are getting downright stale.

No, now might not be a “good time to buy”, but it sure as hell is a good time to be a buyer, and I think you’d have to agree.