Moving and Shaking

As the title would suggest I wanted to fill all of you in on my latest moves and shakes. I have left my old real estate office and joined Merrill & Associates Real Estate. My new office is located at 2004 Dallons Drive, Suite 100, Paso Robles. We are located right behind the Lowe's Shopping Center. I am excited about the move and the new opportunities here.

Merrill & Associates is a newer company in the area but there is plenty of experience in the building. The agents here have all been in the industry in this area for a long time. So there is plenty of knowledge to pull from. The company is also very technology oriented which is very interesting to me. I come from an engineering background and I look forward to learning how to apply some of todays new technologies to my real estate career, Like this blog here.

All of my information is pretty much the same. My web site is still www.AgentGaryBrown.com, my email is still Gary@AgentGaryBrown.com, and my phone number is still (805)769-8862. So if you or anyone you know is in the need of real estate help, give me a call. I look forward to hearing from you.

AGB.

Free Home Warranty

In this market the last thing you want to do is buy your dream home and then find out that it is going to nickel and dime you to death for the first year. Well I can solve that problem for you. Or at least help you with it. If you buy a home from me I will pay the first year home warranty for you through American Home Shield.

This is a $355 dollar value. If and when you need service on anything in your house, all you have to do is call for service and pay $60 per service call. That could result in thousands in savings. Personally I hope that it just provides you with the peace of mind in knowing that you are covered and you never have to use it, however it could save you a lot.

If you are seller, I will also add a sellers home warranty to your house during the listing period. This will protect you from having something go out during the selling process and again costing you more money just before you about to sell. Again I hope this is not needed but peace of mind is a grea tthing to have.

So give me a call or an email and let me explain the program to you in more detail.

AGB.

Economists don't agree on real estate recovery

It wasn't long ago that some economic forecasters anticipated a turnaround in the home-sale market by 2012. When the economic recovery stalled and the housing market showed no sign of turning around quickly, projections for a housing recovery were pushed out two, three and even seven years. Ken Rosen, chairman of the Fisher Center for Real Estate & Urban Economics at the University of California, Berkeley, believes that home prices have bottomed and are increasing in areas powered by strong job growth. However, even in places where prices are rising, they are not rebounding. Not all economists agree that home prices have hit bottom; many anticipate another 5 percent price decline over the next two years. Rosen gives a 65 percent probability that the recovery will be choppy. He forecasts a 5 percent chance of a strong recovery and a 30 percent chance of a double-dip recession. Factors holding a recovery back: a general sense of uncertainty that undermines consumer confidence; millions of unsold foreclosure properties; high unemployment; cutbacks in services; and tight credit conditions. In some urban areas of the country, like Atlanta, Chicago, Miami and Phoenix, it may be more advantageous to buy than to rent. Apartment rents have been rising due to increased demand for rentals from people who have lost their homes in foreclosure, empty nesters trading down, people with jobs who have decided not to buy, and people who would like to buy but who can't qualify. The same lenders who gave risky mortgages to buyers who couldn't afford them in 2005 and 2006 are now making it difficult for qualified buyers to get financing. It used to take a credit score of 620 or more to qualify for a conventional mortgage. In those days, loans to buyers with 5 to 10 percent cash down were readily available. Today's buyers need a credit score of 760. Some conventional lenders require a 20 percent cash down payment. If the buyers are self-employed it can be more difficult to qualify. It's a great time to trade up, but most buyers can't qualify to buy the new home without first selling their current home. One of the best things that could happen to the housing market at this point would be an easing of credit-qualifying standards -- not to the ridiculously low level of several years ago, but to a level that would enable more creditworthy buyers to take advantage of today's low interest rates and relatively low home prices. Good news lately bodes well for the future, but you should anticipate continued volatility. The jobless rate dropped to 8.6 percent nationally in November, the lowest level in 2 1/2 years. The consumer confidence index rose 15 points in November, to 56. Although encouraging, if the economy were on solid ground we would expect a reading of 90. HOUSE HUNTING TIP: It's a good time to buy a home in many areas of the country. However, it's only a good time if you buy for the long term and you have realistic expectations about what buying a home will entail. It will require maintenance, which costs money and takes time. Your home is unlikely to be the cash cow that most buyers expected -- and many achieved -- during the bubble years. According to Robert Shiller, Yale University economist, home prices track, on average, with the inflation rate over long periods. Renters with good incomes and good credit who are tired of moving could benefit from buying a home now. Just be aware that if we go into a double-dip recession, prices could drop another 10 percent in some areas. That's why you don't want to buy for the short run. THE CLOSING: Buyers having trouble amassing 20 percent for a down payment should check with independent banks that have more flexibility in their qualifying criteria. Dian Hymer, a real estate broker with more than 30 years' experience, is a nationally syndicated real estate columnist and author of "House Hunting: The Take-Along Workbook for Home Buyers" and "Starting Out, The Complete Home Buyer's Guide." By Dian Hymer Inman News®

Let's Get This Party Started!

Hello My Friends,

I am not much of a blogger but lets not look at this as a blog as much as it will be a dissemination of information relating to Real Estate and living on the Central Coast.  I will post all things real estate, wine, entertainment, and whatever is going on in this area. I am also going to create a newsletter that will provide a once a month look at the happenings in the area.

I hope you find this useful and entertaining. I will do my best to provide you with good info that is pertinent and fun. So here we go.

AGB