New Year's Resolution: Make 2011 the Year to Own a Home

Merry Christmas and Happy New Year!

For some, the New Year is a time for a fresh start or the fulfillment of a goal that has come to be known as a New Year's resolution. For some, it's a resolution to eat better, exercise more or strive for personal and professional growth.  But for some it is the goal to own a home.  Here are some tips that might help you achieve that goal.


Work with a real estate professional who is familiar with the area in which you would like to buy a home. A local real estate agent is an expert in the available market, community, neighborhoods and other professional resources you may need. Your agent can assemble a list of homes that fit your particular needs and is an invaluable asset for guiding you through the process from search to closing.
Don't forget, the cost to buy a home is not only the down payment but other upfront expenses like closing and inspection costs.  Check your credit score and make any changes/improvements necessary to improve it--it could save you thousands in interest.  Get pre-approved for a loan--you can look with confidence knowing what you can afford.  If you have any questions about buying a home or any real estate needs don't hesitate to call or email--I am here to help.  All the best to you on your resolutions for 2011!

A Few Things You Should Know About a Home Inspection

1.  Choose an accredited home inspector.
It is probably fair to say that many real estate transactions hinge on the home inspection, so choosing an experienced and accredited home inspector is important.  Choose an inspector in your area from a variety of home inspection organizations, which usually include successful completion of training programs, ongoing training, long term experience and adherence to standards of practice and codes of ethics.

2.  Remember, it's about adverse conditions, not cosmetic flaws.
An inspector will point out adverse or questionable conditions or safety related concerns, but will skip cosmetic items that don't relate to the integrity of the home.

3.  There are basic areas included in the report.
This may vary according to the property, but a professional inspection usually includes the home's exterior, foundation and walls, roofs and chimneys, decks, windows, doors, attics, electrical and heating systems, plumbing, air conditioning, basement and crawl space and garages.  A neatly detailed and easy to read report should follow.

4.  Seller and buyer inspection tips.
If you are a seller, have a home inspection in advance to find any problems before the buyer does.  Fixing problems in advance leaves less negotiation room for the buyer.  If you are a buyer, the one thing you should not skip is the home inspection.  It is a reasonable request and is information that may effect the transaction.

As always, for more information on home inspections in the East Bay and all real estate questions, don't hesitate to contact me at fritzhoch.@aol.com

Winterize Your Home

With winter upon us and the days and the light growing shorter as we turn our clocks back an hour this coming weekend, now is the perfect time to make sure your home is winterized and ready for the coming months.  The plan is simple;  make a list of what needs to be done, starting with the most urgent to the least, and set a timeline for each project.  Here are some of the things to look for.

1.  Clean the gutters.  Clogged gutters back up water and ice, that can then leak into the home.
2.  Plug the leaks.  Make sure windows and doors are sealed and any loose or worn roof shingles are replaced.
3.  Clean the chimney and keep the damper closed when not in use.
4. Connect the down spots to a rain barrel.  This is a great green way to collect water to use for gardening projects in dry season.
5.  Seal foundation cracks.  This helps protect from moisture and rodent/insect infestation.
6.  Check the smoke and carbon monoxide detectors.  This is the perfect time to change batteries or install detectors.  Make sure your fire extinguisher is up to date as well.
7.  Take care of the landscaping.  Seal cracked driveways and patios, trim trees and remove debris, rotate bulbs.
8.  Check your heating system.  Call for a professional inspection, clean ducts and stock up on filters.
9.  Reverse the fans.  Blades should move clockwise in winter, pushing warm air down.
10.  Update or create an emergency kit.  Make this the time you prepare or update your earthquake kit, (food, water, batteries, candles) and review you emergency plan of action for family members as well.

Call or email me for a list of professionals who can help you with your projects.

Stabilizing Prices, Historic Rates

One of the most exciting opportunities for buyers today is the increasing availability of mortgages at historically low interest rates. Conforming 30 year fixed rate loans up to $729,750 at 80% loan-to-value cost as little as 4.375% with no points. Jumbo loans up to $2,000,000 with the same parameters are available at 5%.  Today's combination of low rates and low, stabilizing home prices creates a uniquely affordable marketplace in which both property and mortgages are not just "for sale", but "on sale".  These low rates will not last indefinitely, and their rise will immediately impact market affordability; for example, a 1% increase in interest rate generally means that a buyer's purchasing power decreases by $100,000. It is only a matter of time before mortgage rates and real estate values begin to rise together.

(Courtesy Pacific Union International) .

If you are considering the purchase or sale of a home, I would be pleased to review these ideas with you and help you decide how you might take advantage of this unique market.
 

 

13170 Skyline Boulevard, Oakland, CA., Price Reduced!

An Exceptional Gated Compound with Sweeping San Francisco Bay and Diablo Range Views.

Endowed with almost every possible amenity, this world class, one of a kind ultra private gated hilltop estate encompasses 7500+ sq ft of spectacular living spaces situated on 1.76 acres of gorgeous grounds that include a fruit orchard, pool, spa and tennis court.  The dramatic interior includes an elevated, multi-level Moroccan pasha room with wrap around terrace and expansive views, grand living and entertaining spaces with extensive rare Koa wood paneling, bar and built-ins and three massive fireplaces.

This remarkable home also features a grand master suite with large sitting room and private gym and a two suite guest wing that offers the ultimate in family or guest privacy.  Five+ bedrooms and seven baths, fully integrated remote security system and parking for ten+ cars make this one of a kind home an extraordinary value at $2,685,000.

7030 Buckingham Blvd., Oakland

Don't you deserve a home that mirrors your achievements? This sun-drenched newer Claremont Hills contemporary on an gently sloped hillside setting with serene southbay vistas combines striking architecture and a sensible easy living floor design that whispers "success." With its glass encased sky high ceilings, gleaming hardwood floors, two fireplaces and window framed living & entertaining areas that level out to the sweeping view terraces, this spacious 4 bedroom, 3 bath home provides almost 3600 sqft of gracious living. You'll love the gorgeous galley kitchen with the Paul Bocuse range, the gigantic master suite with a private deck and romanesque bath, home office with a separate entry, and the perfect family gathering place on the second level with wet bar and wine cellar. Everything about this residence is impressive except the price! $1,098,000     

Real Estate Tips | Low Interest Rates | Now is a Good Time to Buy or Sell

Things are changing in the finance world and the way lenders handle home mortgages. President Obama in mid-July signed sweeping financial services reform into law. The 2,300-page law creates an oversight agency for financial services companies and a consumer financial protection bureau. It also includes provisions to curb risky mortgage lending. Among other things, it puts restrictions on lenders' use of yield-spread premiums and requires them to verify that borrowers have the ability to repay their loans. These and other changes will have the effect of making plain vanilla mortgage loans more attractive.

Now is a good time to buy. Take advantage of the current market-- it won't be a buyer's market forever. With so many foreclosure and short sale opportunities available, buyers and investors should continue to take advantage of affordable home prices. Cash buyers especially are king right now. They can buy low and don't have to pay for any mortgage costs, saving thousands of dollars on their investment. Take advantage of the variety of loans available. There are numerous mortgage products available for all types of borrowers and their income levels that offer affordable interest rates and terms. Borrowers should take advantage now while interest rates are still low. All in all it is a great time to buy a home.

For more information on buying a home or for the 29 critical questions to ask a Realtor before you list a home, email me at fritzhoch@aol.com.

7210 Woodrow Drive, Oakland

NEED SPACE? This new lisitng on Woodrow may be the answer for you!

There is room for everything and everyone in this fine Montclair residence. You'll be delighted by the gorgeous pinewood lined cathedral ceilings, the window framed formal living and dining rooms, sun-drenched decks & yard space, sumptious master suite, the gleaming hardwood floors, three wood burning fireplaces, gigantic pool room, big home office, a huge 2 car garage and an in-law/guest suite with separate entrance. This 11 room residence is the solution to your SPACE problem at an affordable price! Only $949,000.

http://www.7210woodrow.com/

4321 Briar Cliff Road, Oakland

 Be an Urban farmer!

On a quiet country lane near the Sequoyah Country Club on a tree studded .58 acres sits this charming three bedroom, two bath mid century ranch with its gleaming plank hardwood floors, updated kitchen and bath, brick fireplace, sun drenched front porch and huge redwood deck with picturesque bay views from most rooms. There’s plenty of gardening space to explore your green thumb and on the unfinished lower level you can practice your contractor skills. It can be your private haven for far less than any city home!  $525,000!

7105 Marlborough Terrace

Built without compromise, this exclusive Claremont Hills residence exudes quality in every inch of its more than 3500 square feet. Starting with a gated driveway, the Tuscan style villa reflects only the very BEST with its gorgeous, hand crafted Romanesque banisters, designer picked fixtures, Travertine marble, gleaming cherry-wood floors, hand plastered walls, curved ceilings and custom wood clad windows and doors. Entertaining is all pleasure in the magnificent open living and dining areas with level access to a beautifully landscaped yard for an easy in and outdoor flow. Cook a meal in the dream kitchen that memories are made of with dual dishwashers and sinks, center island with chef’s cook top, state of the art appliances, wine refrigerator, exquisite solid cherry-wood cabinetry and “Barricato” slab granite counters.

Pure luxury continues in a master bedroom that’s fit for a king, with fireplace, hydrotherapy spa tub and private veranda with inspiring bay views. Additional features include a separate home office, wine storage, custom built-ins, walk-in closets, gigantic 2+ car garage, three fireplaces, four verandas and awe inspiring bay and mountain vistas from every vantage point of this magnificent residence. Truly a home to be envied!