Daylight Saving could be a Problem

Not too many people realize that daylight savings this year occurs on March 11, which is 3 weeks earlier than last year.  The problem is that older software programs are not aware of this change.  If you’re using Windows XP service pack 2 or later you shouldn’t need to worry.  Microsoft will have a fix for that.  However, if you’re using Windows 2000 or earlier it may be more problematic.  Other legacy software may also hiccup.

The biggest issue might be as stated in the San Francisco Chronicle ‘For instance, airlines could be thrown off schedule, creating havoc for travelers. People could miss meetings. Cell phone calls could be mistakenly billed during peak hours. All kinds of automatic orders and messages could be mistimed”

Will this be a big as Y2K?  Tech experts don’t think so.  But you might want to make sure that you’re covered.

Fun with your kids in Danville

I just got back form The Little Gym in Danville, CA. Their motto is “Motor Skill Development made Fun”. It is located in the Blackhawk Plaza at the intersection of Camino Tassajara and Crow Canyon Rd. in Blackhawk.

The Little Gym is a large room with multiple gymnastics apparatuses set up for the kids. They have various programs for kids of ages 4 months to 12 years .

Their Developmental Gymnastics Program “is divided into three primary categories, beginning with parent/child classes for infants and toddlers; pre-k level classes for kids ages 3 through kindergarten, and progressing into increasingly advanced gymnastics for grade school-level children.”

Both my 3 year old and my 5 year old go to the Saturday classes and they really enjoy it. My five year old’s class is all motor skill development, which he really benefits from. My daughter’s is split up into half dance class and half gymnastics.

It’s a great thing to do with the kids on the weekend. We even had our 3 year old’s birthday party there. We ordered pizza delivered for the kids, supplied napkins, plates and a cake and they do the rest with scheduled activities for an hour.

Comment on Cyberhomes

I just read the post from My Tech Opionion. There are multiple home “valuation” sites popping up. I have to say that this really is great technology. The ability to get real time info on home values, demographics, and even school information. However, I would have to caution any real estate agent or broker thinking about integrating such tools like Zillow and Cyberhomes from FNRES into their web sites or searches.

For one thing, the values are off, in my case in Danville, CA by about $200K. I know this because I typed in my own address and found that the home right next to me (in the same neighborhood) is valued almost $200K more than mine. It has 200 square ft. less and 2000 squ ft less lot. The price is also not indicative of what the home would actually sell for. I looked at the comps and even though 4 other homes have sold (within the last year) in the neighborhood (all within 200 yrds), they were not used as comps. Very strange. I’m not sure how it chooses.

My caution is this: Let’s say a client logs onto this web site to find out what their home is worth. You show up for the listing presentation, go through your CMA and come up with a selling price. They show you the print out of their home from Cyberhomes. The price on it is $200K higher than what the home would actually sell for. The client claims that they got this information from your web site. I guess at this point you have to admit that the information is wrong and that you have incorrect information on your web site. I pride myself in being upfront and honest with my clients.

Also, this software doesn’t take into consideration some of the mitigating factors of home pricing. I guess we all know that since we would be out of a job otherwise.

All I’m saying is to be careful and to do some investigating on these websites before using them. I still think it can be used as a great tool but I would never actually direct my clients to such web sites without a disclaimer.

Let me know what you guys think….

Time to buy a Home

Mortgage rates have dropped dramatically this week.  According to the article in Yahoo Finance The benchmark 30-year, fixed-rate mortgage fell 11 basis points to 6.31 percent, according to the Bankrate.com national survey of large lenders.  This shows a downward trend in fixed mortgage rates.  A year ago the index was 6.32. 

What does this mean to us in Danville, CA?  The perception is that mortgage rates are going up do to the fact that many home owners have what is called an option arm or a variable rate mortgage.  These mortgages are tied to variable indexes that have been going up.  However, the fixed rates are actually stabilizing or even going down.

The real estate “bubble” that consumers have feared is in fact overly exaggerated.  Sure home prices have leveled off, but that’s a good thing for the economy along with affordable mortgage rates.  No one wins if the people buying the home can’t even afford the payments.  We at Legends Realty see that demand here in Danville CA is rising again.  We’re even starting to see more multiple offers in our real estate office.  This will cause prices to start to rise once again.

 30-year fixed
This week’s rate: 6.31%
Change from last week: -0.11
Monthly payment: $1,022.38
Change from last week: -$11.87

15-year fixed
This week’s rate: 6.08%
Change from last week: -0.11
Monthly payment: $1,399.51
Change from last week: -$9.85

5-year ARM
This week’s rate: 6.17%
Change from last week: -0.13
Monthly payment: $1,007.36
Change from last week: -$13.95

What about foreclosures?  Foreclosures are up.  Sure they are.  What do you expect when banks offer such enticing programs like 100% financing and even 110% financing for the past 5 years.  These mortgages often are only fixed for 1-3 years.  Once that time has elapsed the rate goes up, often dramatically and so does the payment.  It’s tough to pull money out of home with no equity built up.

 I’m sure we’ll be hearing more on this.

Preparing a Home for Sale

At Legends Realty in Danville CA one of the first things we will do before putting a home on the market is prepare the home for sale. We want to show the home off in its best light to maximize the earning potential. We will tour the home with the eye of a buyer – what works, what doesn’t work. We often employ a professional stager who does this for a living.  They often add art, furniture, flowers ec. to enhance the home.  Cathy Lee at C.L Design Services has done a bangup job for our team.

Curb Appeal Does the home have curb appeal? Can we give it a little more pizzazz to draw the buyer in? Would a bit of touch-up paint add dollars to the sale? What about the garden? Is the lawn in order and neatly edged? Are trees and bushes neatly pruned? Are flowers in bloom? If not, it may be time for a garden upgrade. Adding colorful annuals to the front garden will make a big difference. Remember, creating curb appeal will add dollars to your home’s final selling price. Welcome Home As we walk in the door of the home, we will ask myself, “Will this home say, ‘Welcome home’ to a buyer?” Looking through the eyes of a buyer, we will recommend changes that will enhance sales appeal. We’ll help you eliminate anything that gives the appearance of clutter. Countertops should be free and clear. Knickknacks, souvenirs, family photos, refrigerator artwork – it’s gone. We need to “de-personalize” the home so buyers can imagine it as their home. Closets and cupboards should appear large and roomy. It’s time to make a donation to a local charity or store belongings at a friend’s or family member’s home. Reviewing the home room-by-room, we will make recommendations that impact the sale. we’ll point out the pieces of furniture that should be removed, rooms that need new paint, carpet that needs to be changed, fixtures that need polishing, windows that need cleaning, and any other improvement that can easily be made to promote the sale. Setting the Stage Before the first buyer walks in the door, we’ll show you how to set the stage. We want to engage the buyer’s senses. Lighting is critical. We’ll draw back curtains, open blinds, change light bulbs and add lighting where needed to welcome the buyer. We’ll enhance the ambiance with music playing lightly in the background and insure a pleasing aroma emanates from every room.