http://www.5416BarrettAve.com

No wonder buyers and sellers are confused.

While most houses are moving fast, it certainly isn’t because of the move-up tax credit.  It doesn’t surprise me that this flopped.  The move up tax credit of $6500 is for those who have lived in their home for five consecutive years out of the last eight years.  Whenever I meet with a new seller I mention the tax credit- I have yet to see one seller get excited about this and sell because of it. 

Enthusiasm for the credit is waning. 

The first time homebuyer tax credit is set to expire at the end of April so I imagine we will see a spike in sales over the first quarter.  However, most buyers are prepared to buy with or without the credit.  Perhaps it is because inventory is so low that there just isn’t much to choose from. 

Regardless of the reason, the credit was a good attempt at stimulting the real estate market.  I know plenty who took advantage.  Let’s keep watching to see what happens with rates.

Green market research firm SBI Energy forecasts that in the next five years, the market for energy-efficient home renovation products will grow 15 percent, 50 percent faster than the renovations market as a whole. According to the report, the energy-efficient market will reach $35 billion and claim 15 percent of all home renovation dollars spent. “The growth will come as a result of the tax credits, new incentives, and the reality that more agencies and utilities are promoting the fact that adding improved energy efficiency is the most cost-effective way to decrease home utility bills,” says Norman Deschamps, author and SBI Energy analyst.

Source: SBI Reports

Interested? Call me today and I will connect you with the best rehab mortgage guru I know.

Source: Minneapolis-St. Paul Star-Tribune

Get rid of your interest-only and high interest rate loans now!  Check it out…

My husband and I are in the process of refinancing our house into a 5%, 30-year fixed loan with no upfront costs.  Killer!  We are also refinancing our rental from a 10-year interest only loan into a fixed loan as well, for very little cost.  Sweet!  

In talking with different people it seems that most of you aren’t aware of the current rates.  WELL…I feel it is my duty to bring this to your attention.  

If you purchased your primary residence or any rental income property using the once-popular 5 or 10 year interest-only loan, NOW IS THE TIME TO REFINANCE.  If the rate on your house is a fixed loan ABOVE 5.5%, NOW IS THE TIME TO REFINANCE.  If you are underwater on your home, you may even be able to refi into another loan based on your CURRENT MARKET VALUE!  S e r i o u s l y ??  Yes, underwater peeps have the option of doing a short refi which would allow you to refinance with another lender by short “selling” your home to your existing lender. 

**Disclaimer** What I really should say is “Now MAY be the time to refinance.”  Everyone has a different situation: different income, different credit score, different rate, different payment history, different house, different needs.  But until you try, you just won’t know.  Plus, rates are expected to jump by the end of the year and I don’t want you to miss the boat.  

I have some great mortgage brokers in my toolkit so if you are thinking: “Hmmmm, I hadn’t realized…” then call me today. 

“Today, February 1st, is the beginning of the new FHA Condo project guideline changes. From this point, any FHA loan for a condo will require an approval from HUD. This means that in order to do the loan, the financials from the Condo Project will need to be submitted and approved by HUD. HUD has recently said it’s taking about 8 weeks for project approvals under HRAP, but anticipates that within a couple months it may be upward of 4-6 months since there are something like 40k or more condo projects in CA alone that have yet to be submitted for approval.”

Any questions, let me know and I will put you in touch with Chet to answer your questions.

Cheers!

First 33 Revs, now Eclectix.  It is heartbreaking watching these small businesses continue to close.  Many of you know that I am also an artist so it is especially heartbreaking watching an art space close.  I’ve been to Eclectix, it is really a shame.

Here is what Eclectix has to say:

“Unfortunately, the economic climate to operate an art gallery has been very challenging. Thanks and appreciation to everyone for the opportunity to display all the fantastic art works and I wish all you wonderful artists lots of inspiration and success. The last four years have provided a great opportunity to contribute to the SF Bay Area art scene.

The website will evolve, into what, I am not sure. It will certainly continue to share some interesting art, commentary, events, with hopefully some additional virtual exhibits to cruise through.

A warm, warm thank you to all of you who bought art here at Eclectix and those who purchased items in the store on a regular basis. You know who you are.

The support you showed kept us going for a good bit in a hard economy.

About other small businesses: The key word here is “support” , the reality of “support” for a small business, means actually spending money there. Compliments and words are wonderful, yet do not support the unique culture of thriving, connected small businesses.

So if you like a small business, go out of your way to patronize them. Now and forever.

To those who didn’t take the plunge and add a little more art to your lives, there are still many great galleries giving you a chance to support local artists and add some personal style to your life.

And Eclectix still has available art up for sale, just follow the links on the toggle bar.

Art matters. Art makes a statement. Art influences, shapes and molds modern culture and perspectives. Some of the most significant people of each and every era became interested in art, purchased art and involved themselves in their art world. Those considered leaders in our modern culture today, whether of finance, entertainment and every other industry, understand that art is one way to explore their own unique perspective. When you take the time and effort to strengthen your own curiosity around an artist, their art or style, especially by getting to know the artist personally through various art venues and acquiring their art and displaying it on your walls, it gives you joy for years to come. As well as an inspiring conversation piece identifying you as someone in tune with what is happening around you… Art records and defines our cultural history in a way only art can.”

Why am I posting this?  Because the owners said something that I feel is so important: SUPPORT.  Support the small businesses.  If they can make it through this year, they will make it.  I LOVE Peet’s Coffee, and would go out of my way to find a Peet’s.  But I feel better supporting my local coffee shop, Well Grounded in El Cerrito, and others like it.  I want them to thrive.  I want them to succeed. 

Click here to read the article from their website.

Good by Eclectix, sorry to see another local gem go.

If you have ever driven down Carlson to head towards the freeway, you know why this is a good thing.  At any given moment, someone coming off of the 80 east side will come to a rolling stop, try to jut out into oncoming traffic swiftly so that they can get into the immediate left lane to turn onto Tehama.  Or perhaps you are heading down Carlson to get onto the 80 west on ramp, getting ready to turn left onto the freeway, and someone comes racing down Carlson at the same time you are ready to turn at the same time someone coming off of the 80 west offramp decides that they are tired of waiting and they scoot out. 

Collision.

In my opinion, this is the 2nd most dangerous intersection at a freeway on/off ramp in the area (the first being the Gilman/I-80 interchange- although that isn’t really as dangerous, just crazy congested.).  I am so relieved that this will be coming our way.

If you think there is another intersection that you believe is worse than the Carlson @ I-80 one, let me know!