George Langford's Blog

Thursday, April 29, 2010

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Wednesday, April 7, 2010

Spring San Francisco Real Estate Report!

Click on the link to read the Report!

http://www.inkswitch.com/viewItem.php?itemID=31396

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Tuesday, April 6, 2010

Earthquake Preparedness Kit - Are you Ready?


We have recently had Earthquakes in Southern California and Mexico. Although this activity is not out of the "Norm" it is always a reminder that we need to be prepared living here in San Francisco.

After a major disaster the usual services we take for granted, such as running water, refrigeration, and telephones, may be unavailable. Experts recommend that you should be prepared to be self-sufficient for at least three days. Store your household disaster kit in an easily accessible location. Put contents in a large, watertight container (e.g. a large plastic garbage can with a lid and wheels) that you can move easily.

Your basic emergency kit should include:

*Water – one gallon per person per day
*Food – ready to eat or requiring minimal water
*Manual can opener and other cooking supplies
*Plates, utensils and other feeding supplies
*First Aid kit & instructions
*A copy of important documents & phone numbers
*Warm clothes and rain gear for each family member.
*Heavy work gloves
*Unscented liquid household bleach and an eyedropper for water purification
*Personal hygiene items including toilet paper, feminine supplies, hand sanitizer and soap
*Plastic sheeting, duct tape and utility knife for covering broken windows
*Tools such as a crowbar, hammer & nails, staple gun, adjustable wrench and bungee cords.
*Blanket or sleeping bag
*Large heavy duty plastic bags and a plastic bucket for waste and sanitation
*Any special-needs items for children, seniors or people with disabilities. Don’t forget water and supplies for your pets.
*A component of your disaster kit is your Go-bag. Put the following items together in a backpack or another easy to carry container in case you must evacuate quickly.

Prepare one Go-bag for each family member and make sure each has an I.D. tag. You may not be at home when an emergency strikes so keep some additional supplies in your car and at work, considering what you would need for your immediate safety.

Flashlight
Radio – battery operated
Batteries
Whistle
Dust mask
Pocket knife
Emergency cash in small denominations and quarters for phone calls
Sturdy shoes, a change of clothes, and a warm hat
Local map
Some water and food
Permanent marker, paper and tape
Photos of family members and pets for re-identification purposes
List of emergency point-of -contact phone numbers
List of allergies to any drug (especially antibiotics) or food
Copy of health insurance and identification cards
Extra prescription eye glasses, hearing aid or other vital personal items
Prescription medications and first aid supplies
Toothbrush and toothpaste
Extra keys to your house and vehicle
Any special-needs items for children, seniors or people with disabilities. Don’t forget to make a Go-bag for your pets

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Monday, April 5, 2010

District 5 - Noe Valley San Francisco


Over the years, Noe Valley has become one of San Francisco's most coveted residential areas. Many of the Victorian and Edwardian homes in the area have been updated for modern living, and the area is very convenient for out-of-town and downtown commuters alike, with easy access to highways and the J-Church Muni Metro line.

Twin Peaks rises high above the valley, blocking much of the fog that lingers in the city's Western neighborhoods; frequent sunny days make this a wonderful home for those who love socializing with their neighbors.

24th Street is the heart of the neighborhood, and here you will find friendly faces popping in and out of boutiques, restaurants, charming cafes, salons and a bevy of long-standing small businesses. Throughout San Francisco, this area is known as a popular place for both new parents and dog lovers to congregate - watch out for strollers and dog leashes while window-shopping!

The inclusiveness of the neighborhood is bolstered by a number of community events, including a weekly farmers market and October's much looked-forward-to Harvest Festival. Of course, Noe Valley neighbors find reasons to gather every day -- whether at Douglass Park playground, the newly opened recreation center and dog run, or just out in front of one of the many coffee venues.

■Zip Code(s): 94114, 94131, 94110

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Friday, March 19, 2010

For the First Time in a Year, Fewer Sellers Slash Asking Price


For the first time in a year we are seeing fewer Sellers slash asking prices. In some markets the fewer slashed from home Sellers is resulting in bidding wars. Just under 20 percent of homes that went up for sale in March have been reduced once.

San Francisco Market Update:

List Price to Sell Price is 98.15%

What does this mean for Buyers?

If you find a home that is priced right, in good condition and in a great location it will sell fast. The day of waiting for the Seller to drop the price is becoming less and less. There is less inventory on the market at the moment and more buyers taking advantage. In some cases here in San Francisco we are seeing multiple offers on properties.

What does this mean for Sellers?

Preparing you home is key in this market. Preparation can be painting, updating or staging to allow your home to be the "Gem" property in this market. Pricing correctly in the beginning is imparative. The market will determine the value of your home.

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Tuesday, February 23, 2010

Find out if you can afford a Mortgage without the Mortgage!

It's natural as a First Time Home Buyer to have the "Fear" of a mortgage. Paying rent all your life and never having such a large payment does sound intimidating at first. Well I have the solution to help ease that fear!!!

Solution:

Step #1: Go talk with a Bank or Mortgage Broker/Banker to see if you can qualify for a loan. This will allow you to know how much you can purchase and what the estimated monthly payment would be for your specific scenario.

Step #2) THE MOST IMPORTANT STEP OF ALL!
Take the difference between what you currently pay in Rent and what your propsed New Mortgage payment would be. Take the difference and put it into a Savings account for 3 months. This will allow you to see what it would be like to actually have a mortgage without the committment! See how life would be.... if it feels tight consider lowering your purchase price, if it's comfortable stay at the proposed payment, and if life still seems very good, explore the opportunity to increase your purchase price.

For Example:

If you pay $2,000 a month in rent and your payment would be $3,500 a month for a mortgage. Take $1,500 a month and place it into a savings account as if you were paying a mortgage. At the end if you decide to purchase a home you will have saved money for moving expenses or even New Furniture and you will already know what it is like to have a Mortgage!

Why let Fear control your decision? Try this out and take away the fear of a mortgage and the "un-known".

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Thursday, February 18, 2010

30 Days VS. 3 Plus Months - You be the Judge!


The wire is down for First Time Home Buyers to cash in on the $8,000 tax credit. April 30th you must be in contract and close by June 30th. You still have the opportunity to take adavantage of the tax credit.

Buying a home that is being sold by a seller and not a bank may be your only option soon. "Regular" sales or a home that is being sold by a seller and not a bank will allow you to close an escrow around 30 days. Short Sales are taking so long that it might be 3 months before you hear back from the bank and at that time the answer could still be no. Taking that long for a response might put you out of game for the credit.

But I can get a better deal when I buy a short sale.... right?

Sellers are very aware of Today's market and understand that they are going against banks. Banks are very aware of the market as well and won't let a home go for any price either. Having your Realtor negotiate with a seller could be more beneficial. A lot of banks will not allow for the buyer to receive credits to help pay for closing costs. You have a better chance at trying to ask a seller to help pay some or even all closing costs. Buying a home from a Seller might actually be a better choice of the two. Are you willing to wait for the bank to respond over 3 months but have your interest rate increase? If this were to happen that Short Sale might actually cost you more in the long run. See examples below:

"Regular" Sale: Seller & Buyer
List Price: $500,000
Seller Pays 3% Closing Costs: $15,000
Buyer Pays: $475,000
Payment at 5.125 Interest with 20% Down: $1,708.00 (Estimate)

Short Sale: Bank & Buyer
List Price: $500,000
Bank does not allow credit for closing costs
Buyer Pays: $500,000
3 month Response time interest rates go to 5.25%
Payment at 5.25 Interest with 20% Down payment: $1,750.00 (Estimate)
Buyer out of pocket for closing costs $15,000


Is the short sale reall worth waiting for? You be the judge!

***Payments do not include HOA's or Property Tax. They are estimates and for example purposes only!

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