Friday’s Off Ramp: Curbed…in San Carlos.

No doubt you’ve come across a scene like this at countless street corners throughout San Carlos lately.   And if there’s an “old style” curb corner that hasn’t been jackhammered out yet, chances are it’s on the list. What’s going on? It’s your national Economic Stimulus money at work right here in San Carlos.

ARRA Grant.

Recently, San Carlos received a grant in the amount of  $559,000 as part of the American Recovery and Reinvestment Act (ARRA.) The City has chosen to use $295,000 of this money to fund it’s 2009 Pedestrian Improvement Plan in which they’ll replace 119 of the old high-curb street corners like this one below: … Click Here to Continue Reading

___________________________________________________________________
Psst!!.. do you like what you’re reading? Click here to subscribe to the site for free, and you’ll get updates sent automatically to you. And for more information about San Carlos, be sure to follow the White Oaks Blog on Facebook and on Twitter.
________________________________________________________________

Friday’s Off-Ramp: Yes, I got a new coat of paint, too.

A Sea of Change…

Amidst all of the changes that have been taking place lately with this site, as well as my other site The Emerald Hills Blog, there has been another change that has happened that is no less significant: I changed brokerages.    This wasn’t a decision that I took lightly.   Heck, it wasn’t something I was even thinking of a few months ago.   Changing brokerages is an expensive proposition!  But one afternoon I sat down and took a close look at my business.  I analyzed my recent transactions, and even my interactions with other brokerages to understand why certain transactions went smoother than others and which agents were the best to deal with.  I even asked my clients what they thought of the different real estate firms that were out there.   The more I dug into this, the more a common thread started to develop…

Welcome to Alain Pinel Realtors…

I had always been impressed with the APR agents that I have dealt with.  There was a refreshing level of competency, integrity, and professionalism that isn’t a given in this industry.  However, what tipped this little business analysis into a full-scale investigation was the feedback from my client base — when I took an informal poll about which brokerage they thought had the best overall reputation and brand image, APR was clearly very well regarded, as was my current employer RE/MAX Today.  This was surprising, since APR doesn’t even have an office in San Carlos.  But the more I looked into this, the more it made sense.

Common Thinking…

The first thing that struck me about APR was how much our views were aligned.  They understand the value of technology in real estate, and they invest at TON of money in it.  There’s also a pervasive “do it right” mentality that is ingrained in the culture.  No shenanigans, no short-cuts.   And there seems to be a healthy percentage of agents who came from other walks of life:  former attorneys, engineers, and others who heralded from a corporate existence.    And it shows — it feels much more like a well run corporation, which is an environment that I’m much more accustomed to.

It was a very tough decision to make.  My colleagues at RE/MAX Today are an outstanding group of agents, and they’re #1 in the mid-Peninsula for a darn good reason.   But the move just made more sense for me personally.

Join Me!

While some things do change, other things don’t.  I still have the same laser focus on the city of San Carlos and its unique real estate market, and the White Oaks Blog will continue to march onward.   Even my email and phone numbers are the same.  But it’s now my goal to be top APR agent in San Carlos, and I hope you’ll join me on this journey.

———————————————————-

___________________________________________________________________
Psst!!.. do you like what you’re reading? Click here to subscribe to the site for free, and you’ll get updates sent automatically to you. And for more information about San Carlos, be sure to follow the White Oaks Blog on Facebook and on Twitter.
________________________________________________________________

Friday’s Off-Ramp: When Pools Go Bad…

Pools and Boats

Someone once said that buying a boat is a bad idea, because they’re far more expensive to maintain than you expect, and ultimately you don’t use them nearly as much as you thought you would. Well, one can make the same argument about pools. The idea of having a pool is very desirable to many homeowners, especially on those occasional warm days in late summer. Believe me, there has been more than one occasion where I wished we had put a pool in our when we had the chance a few years back.

But if you talk to anyone who owns one, they’ll tell you the cost of maintaining and repairing a  pool isn’t insignificant.  Nonetheless, they diligently keep them in top running shape, and get many years of enjoyment out of them.  That’s not the point of this article.

Buying someone else’s problem.

During the course of house hunting, I see many pools.  Some are breathtaking, and others….well, they’ll take your breath away for a different reason.  The pool pictured above was at a bank-owned property that sold recently in Belmont.   I know the picture won’t do it justice, but there was some funky, smelly stuff growing in that water.  I can’t imagine how many mosquitoes started their brief life in that swamp. … Click Here to Continue Reading

___________________________________________________________________
Psst!!.. do you like what you’re reading? Click here to subscribe to the site for free, and you’ll get updates sent automatically to you. And for more information about San Carlos, be sure to follow the White Oaks Blog on Facebook and on Twitter.
________________________________________________________________

Friday’s Off-Ramp: Three Bad Numbers…

8.9%, 11.8%, and 20%…

I read an interesting article this past week that had these three simple numbers in it.   If you’re wondering how the economic recovery is coming along in this area, these three numbers tell a brutal story. Here’s what they mean:

• 8.9% = Unemployment rate in San Mateo County

• 11.8% = Unemployment rate in Santa Clara County

• 20% = Office vacancy rate in Silicon Valley.

Ouch.

What Recovery?

As much as I want to believe the real estate market it poised for a rebound, and that the “worst is over” with regards to the hemorrhaging economy, these number are troubling to me.  Why?  Because a significant number of residents in San Carlos and other nearby communities rely on technology companies in Silicon Valley or on the mid-Peninsula for their livelihood.    The technology boom of the 80′s and 90′s changed the demographics of the mid-Peninsula virtually overnight,  and our reliance on technology and Silicon Valley hasn’t waned since.

That’s why when I see numbers like these, I know it’s hitting home right here in San Carlos.    When the combined counties lose 50,000 jobs since November of ’08, you know someone here is affected.   When Cisco reports crummy earnings (by their standards), you know things aren’t quite right yet.   And I have to believe that Oracle’s acquisition of Sun Microsystems isn’t going to improve the aforementioned unemployment numbers.

The Mindset

These numbers are very black and white, but they only tell half the story.  They don’t reflect those folks who are still employed, but are still worried about losing their jobs.  The bottom line is that no full-fledged housing recovery is happen until the numbers above come way down, and the mindset of the existing workforce is more secure.  People without jobs, or in fear of losing their jobs, don’t buy homes.

So keep an eye on these numbers going forward.  They’ll tell you all you need to know…

————————————————

___________________________________________________________________
Psst!!.. do you like what you’re reading? Click here to subscribe to the site for free, and you’ll get updates sent automatically to you. And for more information about San Carlos, be sure to follow the White Oaks Blog on Facebook and on Twitter.
________________________________________________________________

Friday’s Off-Ramp: It’s Time to Repeal the New Appraisal Law

Good Intentions, Bad Implementation…

A few weeks ago, I wrote a post about how the new appraisal laws were tripping up an increasing number of real estate transactions, often very late in the negotiation.   Here’s a very quick recap of how the new Home Valuation Code of Conduct has changed the way appraisals are conducted:

• Mortgage Brokers are be prohibited from selecting appraisers;
• Lenders are prohibited from using “in-house” staff appraisers to conduct initial appraisals, and
• Lenders are prohibited from using appraisal management companies that they own or control.

The new law took effect on May 1, 2009 and the impact of the changes above was immediate and far-reaching.

Here’s Why It’s Not Working…

The intent of the law is to protect the consumer against over-aggressive lending practices.  … Click Here to Continue Reading

___________________________________________________________________
Psst!!.. do you like what you’re reading? Click here to subscribe to the site for free, and you’ll get updates sent automatically to you. And for more information about San Carlos, be sure to follow the White Oaks Blog on Facebook and on Twitter.
________________________________________________________________

Friday’s Off Ramp: Every picture tells a story with foreclosures.

Everything But the Kitchen Sink…

It would be easy to mistake the picture above for a kitchen remodel that’s in progress.  But what has happened to this kitchen couldn’t be any further from a remodel.   This picture is the kitchen of a foreclosed property that I saw recently — it wasn’t in San Carlos, but it was close enough.   It appears whoever owned this home before it was foreclosed decided to strip anything and everything of value out of the kitchen, possibly in hopes of scoring a little cash before they were evicted.   If you think this kitchen is bad, you can’t imagine the horrors that I found in the other rooms of this home….  But I’ll spare you the pictures of that.

A Parting Gift.

Sadly, what I saw in this particular home is becoming more commonplace as more homes are being repossessed.   Whether it’s from misplaced anger or just desperation, homeowners are often leaving a path of wrath and destruction as they leave their home for the final time.  I’ve heard of motor oil being poured into the carpet, graffiti sprayed all over the interior of the home, holes punched in walls, and like above, the home being completely stripped like this one:

Or even worse…

Buyer Beware…

“Foreclosure” is synonymous with “bargains” for many home buyers.  Make no mistake, a huge percentage of the homes that were sold in the Bay Area so far this year were REO’s, and shoppers got some really good deals.  But even if the foreclosed home you have your eye on hasn’t been trashed like the one above, you still need to be extra diligent with your inspections before you buy one.   While outward abuse may not be an issue, deferred maintenance usually is.   This stands to reason, because if a person can’t afford the mortgage payments, they certainly aren’t going to spend any money on repairs.

So if you’re shopping for a steal on a foreclosed property, I have two pieces of advice:

1. Do your homework (inspections, research) even more diligently.
2. Be ready for anything.    Just when you think you’ve seen it all, you’ll see something else that will shock you.

Got a story on a foreclosure nightmare? Share it below in the comments…..

—————————————————–

(The Friday Off Ramp series is just an occasional editorial on Fridays about stuff that happens in San Carlos.)

—————————————————–

___________________________________________________________________
Psst!!.. do you like what you’re reading? Click here to subscribe to the site for free, and you’ll get updates sent automatically to you. And for more information about San Carlos, be sure to follow the White Oaks Blog on Facebook and on Twitter.
________________________________________________________________