Realty World – Viking Realty

While a new home may seem to be free of any defects,  home buyers are advised to hire a home inspector.  A home inspection can alert buyers to defects, if any are present.
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If you are a buyer, then would you purchase a home without a home inspection?  As a new home buyer it is to your advantage to know as much about the property as you can up front & receive peace of mind regarding the condition of the home’s interior & exterior. Many types of inspections are available depending on the type of home and it’s features.  Specialty inspections and samplings are also available should you feel the need to have these done.

Although it is not a requirement of any home purchase most realtors will  strongly advise new home buyers to have  home inspection prior to closing.  However, you should note that the primary job of a home inspector is to conduct a visual examination of the physical condition of the house and certain systems within it.  Since the examination is visual, home inspectors are not required to remove
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carpets to ensure the floors aren’t warped, for example, and may not walk on the roof to check for defects.  As a home buyer, you should talk with home inspectors ahead of time to find out what they will and will not cover as part of the inspection.
For a list of latest foreclosures and how to buy low and sell high, contact me at you’re earliest.  I offer homebuyer seminars every Saturday & by appointment.  Pick up free materials and information to assist with your decision-making.
Serena is a Realtor & property manager in the bay area. Meet with Serena for your free consultation, and to begin your search for that perfect rental property. Call or text (510) 303-2549.
Serena specializes in first time buyers, investor properties, property management, & second home purchases. Contact Serena for your FREE consultation today.  Experience guaranteed results & satisfaction.

SAN FRANCISCO (AP) — Steve Jobs saw the future and led the world to it. He moved technology from garages to pockets, took entertainment from discs to bytes and turned gadgets into extensions of the people who use them.
Jobs, who founded and ran Apple, told us what we needed before we wanted it.
“To some people, this is like Elvis Presley or John Lennon. It’s a change in our times. It’s the end of an era,” said Scott Robbins, 34, a barber and an Apple fan. “It’s like the end of the innovators.”
Steve Jobs left the world at age 56.
“Steve’s brilliance, passion and energy were the source of countless innovations that enrich and improve all of our lives,” Apple’s board said in a statement. “The world is immeasurably better because of Steve.”
President Barack Obama said in a statement that Jobs “exemplified the spirit of American ingenuity.”
“Steve was among the greatest of American innovators — brave enough to think differently, bold enough to believe he could change the world and talented enough to do it,” he said.
Outside Apple’s Cupertino headquarters, three flags — an American flag, a California state flag and an Apple flag — were flying at half-staff late Wednesday.
Cultivating Apple’s countercultural sensibility and a minimalist design ethic, Jobs rolled out one sensational product after another, even in the face of the late-2000s recession and his own failing health.
He helped change computers from a geeky hobbyist’s obsession to a necessity of modern life at work and home, and in the process he upended not just personal technology but the cellphone and music industries.
“Remembering that I’ll be dead soon is the most important tool I’ve ever encountered to help me make the big choices in life,” he said. “Because almost everything — all external expectations, all pride, all fear of embarrassment or failure — these things just fall away in the face of death, leaving only what is truly important.”
Jobs is survived by his biological mother; his sister Mona Simpson; Lisa Brennan-Jobs, his daughter with Brennan; wife Laurene, and their three children, Erin, Reed and Eve.
A Collection of Inspirational Steve Jobs Quotes About Life, Design and Apple
A Collection of Inspirational Steve Jobs Quotes About Life, Design and Apple
“I’m convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance.”
“I was worth over $1,000,000 when I was 23, and over $10,000,000 when I was 24, and over $100,000,000 when I was 25, and it wasn’t that important because I never did it for the money.”
“In most people’s vocabularies, design means veneer. It’s interior decorating. It’s the fabric of the curtains of the sofa. But to me, nothing could be further from the meaning of design. Design is the fundamental soul of a human-made creation that ends up expressing itself in successive outer layers of the product or service.” – Fortune
“Being the richest man in the cemetery doesn’t matter to me … Going to bed at night saying we’ve done something wonderful… that’s what matters to me.” – Wikiquote, as quoted in The Wall Street Journal (Summer 1993).
“You can’t just ask customers what they want and then try to give that to them. By the time you get it built, they’ll want something new.” – Inc. Magazine

Interest Rates (Photo credit: 401K)
Many would speculate that we have reached the tipping point in real estate. In fact the economy is showing signs of recovery.  The economy is showing signs of recovery. Lower unemployment claims and lower inventory are causing prices to rise and stiff competition in the median price range.  The interest rate rose a tad from 3.875 to 3.9. There are no signs of rates lowering any time soon.
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So as predicted in 2010 & 2011, we are seeing  less inventory, which should hold prices from falling any further. Small fluctuations might still happen, but properties that are priced well and ‘move-in ready’ will still sell quickly.
It’s also great news for real estate investors. Due to suppressed prices combined with historically low interest rates, we will continue to see very good long-term investment opportunities.
Is 2012 going to be your year for a major move? If you want to find out more, you can contact Serena for a pre-approval or market analysis of your home or rental.
For a list of latest foreclosures and how to buy low and sell high, contact me at you’re earliest.  I offer homebuyer seminars every Saturday & by appointment.  Pick up free materials and information to assist with your decision-making.
I specialize in first time buyers, investor properties, property management, & second home purchases. Contact me  for your FREE consultation today.  Experience guaranteed results & satisfaction.
Serena is a Realtor & property manager in the bay area. Meet with Serena for your free consultation, and to begin your search for that perfect rental property. Call or text (510) 303-2549.

 
Five years after the housing bubble burst, America’s wealthiest families are now losing their homes to foreclosure at a faster rate than the rest of the country — and many of them are doing so voluntarily.
Last year over 36,000 homes valued at $1 million or more were foreclosed on, or at least in default, according to data compiled by RealtyTrac, which tracks foreclosures. While that’s still a low percentage of all foreclosures, it is growing.
Out of all foreclosure activity, the share of foreclosures on properties valued at $1 million or more has risen by 115% since 2007 while the share of multi-million dollar foreclosures — or homes valued at more than $2 million — jumped by 273%. Meanwhile, the share of foreclosures on mid-range properties valued between $500,000 and $1 million fell by 21%.
Lenders are typically more willing to work with homeowners that have other resources. But with a recovery in the housing market still years away, foreclosure has turned out to be a worthwhile option after all. Saddled with bloated mortgages after a long run up in property values, many high-end homeowners have chosen to pursue a “strategic default.” Even though they can afford the monthly mortgage payments, they still decide to walk away from their home because they owe more on the property than it is worth.
In million-dollar homes, you’re looking at people who can afford it, but they have to make a business decision: Does it make sense to make payments on a mortgage when the home is worth less than they owe. In many cases, it often makes more financial sense to walk away.
This information obtained by the Calif. Asso. of Realtors, courtesy of CNN Money, Feb 23, 2012.

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Is it better to rent or own?  It is a matter of opinion.  According to the New York Real Estate news, a professor UC Berkeley,  who did a case study said it is better to rent all the time.  “And not just from a practical standpoint; also from a financial one, Reuters reported.
The reason is that the carrying costs associated with homeownership, such as property taxes and renovations, often cause homeowners to fail to meet their other financial goals, the professor, Rich Arzaga, said.
Of course, there are critics of that logic.
“To state that owning a home is or isn’t a good investment is too simplistic,” said Jeffrey Rogers, president of Integra Realty Resources, a New York-based real estate appraisal firm. “It depends. In times of relatively higher rents, low home values, and low interest rates, it makes sense to own a home. But in a reverse market, it wouldn’t be economically feasible. Over time, those who purchase in down or flat markets with low interest rates come out ahead.”
click here on story: Reuters

1. Pay your bills on time. Payment history accounts for roughly 35% of your score. So paying bills on time is the most important thing you can do. If you’re behind, get caught up and then stay current. If you’re struggling, contact your creditors to work out a payment schedule.
2. Increase the length of your credit history. It accounts for 15% of your score. Canceling an old card or getting a lot of new credit within a short time span can hurt your score because it lowers the average age of your accounts.
3. Keep credit card balances low. Credit utilization makes up 30% of your credit score. Try to keep the amount you borrow below 25% of your available credit. Even if you pay off your credit cards every month, the average balance will still impact your score.
4. Minimize new credit requests. They account for 10% of your credit score. Every time a potential lender asks for a copy of your credit report, an inquiry is recorded. If you will be applying for a loan in the near future, don’t apply for any new credit cards beforehand. You can also ask the three main credit reporting agencies-Experian, Equifax, and Trans-Union, to stop unsolicited credit offers.
5. Maintain different types of installment and revolving debt. About 10% of your score depends on the type of credit used. How you handle revolving credit (like credit cards) carries more weight than how you deal with installment debt (such as car loans & mortgages).
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Here are some suggestions to ensure that your home is energy efficient and ready for the colder winter weather.
Test your homes energy efficiency.  You can perform a simple audit of your home’s energy use by following the guidelines at EnergyStar.gov. You can also have PG&E or a home inspector evaluate the home.
Turn down the heat.   Save money on your heating billsby setting your thermostat to 55 degrees when you are away from home for more than 4 hours.  Alter the setting manually, or for $80-$120, purchase a programmable thermostat for your heater.
Avoid drafts.  Plug air leaks with caulk or weather stripping to limit heat loss in your home.  Check for leaks by holding a lit candle near vents, doors, window frams and mail slots.  If the flame changes direction, there’s a leak.
Water works.  To save money, set your hot water heater heater at 120 degrees.  Electric and gas units can be covered with an insulating jacket for about $20.  The isulation can help cut heat losses by up to 45 percent.
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1. As the housing market continues to struggle for stabilization, many homeowners are turning to strategic default.  Almost 11 million homes are now underwater, according to Corelogic.  Around 3.5 million homeowners are behind in their payments and another 1.5 million homes are already in the foreclosure process, according to RealtyTrac.
 2. Aside from the moral quandary of whether strategic default is the right decision, there also are other factors to consider.
3. borrowers’ credit scores will take a hit. According to FICO, someone with a 680 credit score would see their score decline anywhere between 85-100 points after a strategic default, and someone with a 780 credit score could lose 140-160 points.
4. Borrowers who are considering strategically defaulting on a house should look at it as a last resort, not a first option.  Financial troubles could be eliminated by refinancing, especially if the Obama administration’s program is implemented.
5. Each state has its own rules and regulations regarding foreclosures, which affect both the length of the process and what the borrower could be liable for in the end.

Like the residential housing market, the remodeling market is showing signs of improvement, according to two leading industry indexes. The National Association of Home Builders’ Remodeling Market Index (RMI) rose five points in the fourth quarter of 2011 from the third quarter, reaching its highest level in five years. Index components measuring current market conditions and future indicators of remodeling business both increased five points in the fourth quarter. The highest market activity occurred in two categories: major additions and minor additions.
“The residential remodeling market has been improving gradually, mirroring the trend in other segments of the housing market,” says NAHB chief economist David Crowe. “Stringent lending requirements and economic uncertainty continue to be a drag on demand, but we expect a modest growth in remodeling activity to continue through 2012.”
Meanwhile, the Joint Center for Housing Studies at Harvard University also reports that home remodeling spending is expected to increase later this year after a slow start to 2012. If momentum continues to build throughout the year, 2012 could end on a positive note, says Eric Belsky, managing director of the Joint Center. “We’re beginning to see some hopeful signs in the economy, and the housing market is finally starting its slow recovery. That should prove helpful for home improvement spending as the year progresses.”
from CRS Connect, on-line newsletter
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Remodeling market index hits five year high (agbeat.com)