ANOTHER UPDATE! Pt. Isabel Hearing Cancelled!

Update: The city of Richmond has cancelled, until further notice, the public hearing concerning the protest to the proposed rezoning and new Kohl's store.

See post below for more information about why you should show up when it's rescheduled!

Love Pt. Isabel? Then help save it.

Help us protect the dog park and shoreline! Attend the Richmond City Council meeting on Tuesday, Dec. 16, at 7 p.m. to protest the proposed rezoning and new Kohl's store.

A developer is proposing to amend Richmond's General Plan Land Use Map from Light Industrial (low-intensity uses) to a Regional Commercial District (high-intensity retail uses), demolish all buildings at 2700 Rydin Rd. and 4903 Central Ave., and construct a 99,000-square-foot Kohl's department store with almost 400 parking spaces near Costco on Pt. Isabel. The plan also includes reservation of a 76,000-square-foot pad for chain restaurant, bank, and/or retail uses directly on the corner of Central Avenue and Rydin Road. Proposed Regional Commercial land use activities and circulation would be in close proximity to sensitive habitat areas--less than 200 feet from Hoffman Marsh to the east and less than 400 feet from the Albany/Richmond mudflats and wetlands (wildlife sanctuary) to the south. The resulting activities and circulation (including late-night commercial hours) could negatively affect the long-established Hoffman Marsh and the Albany mudflats, which have one of the highest densities of shorebirds in Eastshore State Park. Amending the General Plan Land Use Map to a Regional Commercial District will commercialize the shoreline and put it at risk for all kinds of inappropriate uses. The only areas zoned in the city of Richmond for Regional Commercial are Hilltop Mall & Auto Plaza, a portion of Macdonald Avenue (Target), Pierce Street (Pacific East Mall), Jacuzzi Street, and part of Central Avenue (east of I-580). There are no Regional Commercial Districts along the entire Richmond shoreline. The following Regional Commercial uses are outright permitted and were never intended for shoreline areas: convenience stores; movie theaters; auto parking services; hotels or motels; nondepository institutions, for example, check cashing; colleges and schools; circuses and carnivals; and much more. A separate plan will prohibit left turns onto I-80 at Central and make the I-580 on-ramp at the corner of Central and Rydin the main freeway access to Oakland/San Francisco. The shoreline area already hosts 1.2 million visitors to Pt. Isabel per year, the highest-revenue Costco in California with its 16-pump gas station, and the USPS Bulk Mail Center, which services all of Northern California. Adding a large Kohl's and a chain restaurant directly on the corner and making I-580 the main freeway entrance at Rydin Road would increase traffic congestion, add air pollution and garbage, and overburden the area. This would make it harder for visitors to access the park and could drive birds out of the marsh. Besides the long delays at the signalized Jacuzzi Street, the plan includes adding signal lights at two more intersections--one at Central and Rydin and one at Central and I-580 to San Rafael (top of the overpass). This could cause traffic to back up all the way to Costco. What can YOU do? Your attendance can strongly influence the City Council to conduct a full EIR (environmental impact report) and a proper traffic review, which are needed to more accurately assess this proposal's impact on the hard-won shoreline area. Whether you speak or merely stand up to show your opinion, you're needed!!! This is the last chance the public has to oppose this major land use change. For more information, contact the Richmond Annex Neighborhood Council at 232-6510 or PIDO at m22257m@yahoo.com or 559-8362. City Hall is located at 1401 Marina Way South. The building is on the right side of the street as you drive toward the bay. The entrance is at the back of the building, and there's plenty of parking. Please bring a friend or neighbor and mention this to all of your friends who visit the dog park or use the Bay Trail. HEAD COUNT MATTERS!

Don't Forget to Vote

Really, do it.

Food!

Our little festival in the heart of Berkeley's gourmet ghetto is six this year, and she's getting bigger every year! Come drink wine legally in the streets! Listen to Berkeley High School's amazing jazz & funk combo! Taste the best street food on the west coast and shop at the craft vendors' booths; we have arranged for perfect weather and expect you to show up and have fun.

Couple saw house in half in divorce

The Associated Press
Article Launched: 10/10/2008 04:08:15 AM PDT

PHNOM PENH, Cambodia—A couple in rural Cambodia has terminated their 18-year marriage with a divorce settlement that entailed sawing in two the wooden house they once shared, villagers said Friday. The husband, 42-year-old Moeun Sarim, has taken away with him all the bits and pieces of his half a house, said his 35-year-old wife, Vat Navy.

"Very strange, but this is what my husband wanted," she said by phone from a village about 62 miles east of Cambodia's capital, Phnom Penh. She said they ended their marriage last month.

"He brought his relatives and used saws to cut the house in half," she said, adding that she now owns the other half that is still standing. The house is made from wood with a tile roof and propped up on wooden pillars, a typical style for a Cambodian country home.

She said her estranged husband and his relatives, after ripping apart half of the house, carried all the debris to his parents' house nearby.

She said the divorce was prompted by her husband's jealousy about her alleged relationship with a policeman in the village. She denied having an extramarital affair.

"He wanted a divorce, and I said, 'Let's divorce,'" she said.

The husband could not be reached for comment.

Bou Bout, a village chief, said local officials and police were present as witnesses the day the couple split their 20-by-24 1/2 foot house into half.

"Local officials tried three times to get them to mend their differences, but the husband would not budge", Bou Bout said by phone.

Kenny Leather, Loan Consultant Extraordinaire

Now that the dust has settled a bit regarding what kinds of real estate purchase loans are available these days, I thought I'd check back in with Kenny Leather of Princeton Capital and find out what the buzz is all about regarding new FHA loans...

Bobbie: Can you give us the lowdown on the new FHA loans? Why would someone want to use this product?

Kenny: Well, it's one of the few games in town for a 3% down payment and less than perfect credit.

Bobbie: So, does that mean there are still other 3% down products for people with better credit?

Kenny: No... well, there are Cal HFA loans that do mostly the same thing...

Bobbie: But for people with less than perfect credit, FHA is the way to go?

Kenny: Yes. This is really taking the place of the subprime market products (that are no longer available).

Bobbie: I've heard compliance requirements for sellers are less strict than the old guidelines, in terms of the property including certain features like screens on windows and special floor furnace vents?

Kenny: Yes, that is true compared to the old FHA guidelines, but compared to non FHA loans, the properties have to be in slightly better shape. For example, when an appraiser appraises a house with a non-FHA loan, they are just making sure the house is there and the value holds up; when they visit an FHA house, they additionally have to make sure the furnace is working, the water is running, etc.

Bobbie: How else is it different?

Kenny: For starters, until the end of December, we can go up to a loan amount of
$729,750. Other advantages include no income limitations, and we can go a little bit higher on the debt to income ratios.

Bobbie: Can you explain debt to income ratios, for our readers?

Kenny: It's when you take your debt divided by your income and you get a ratio. The lower the ratio the better.

Bobbie: Ok, we've reached information overload.

Kenny: I know and I agree!


So readers, let this sink in, and I'll continue the interview in a part two later! There's always more to learn...

Oh by the way, Kenny works in the San Francisco East Bay Area and would be happy to talk with you if you need his financial expertise. Call him at (510)409-7232 and interview him yourself!

Sellers: Careful Pricing is Crucial!

I found this gem from the California Association of Realtors:

Before the torrid real estate market of recent years, a common pricing strategy was to list your home for between 2.5 to 5 percent more than the expected sale price. This way, you would have room to negotiate with the buyer.

If you used this approach today, you'd be lucky to receive any offers. Recently, listings that were priced at or under market value received offer--sometimes multiple offers. Over-priced listings sat on the market unsold.

One risk of pricing too high for the market is that you won't receive offers. Sellers often find this hard to believe. Why won't buyers just make an offer if they think a listing is priced too high?

The answer is two-fold. First of all, if a listing is priced too high in a market where well-priced listings are selling, this may indicate that the seller has unrealistic expectations. Making an offer involves a big emotional commitment and it takes a lot of time. Most buyers don't want to waste their time offering on a listing that's over-priced for the market, particularly when there are other listings to choose from.

Secondly, even though buyers might prefer to buy without competition, the fact that a listing is popular is a stamp of approval. A property that is in high-demand is one that is likely to have good resale value.

Another risk of over-pricing is that you could end up in downward price spiral. Here’s how this can happen: You bring your home on the market listed at a price that you're sure is right. After all, your home is better--in your estimation--than anything else on the market. Your agent cautions against this, but you're intent on getting your price. After a month or two, you aren't even getting a nibble from an interested buyer. Even so, other listings similar to yours are coming on the market and selling. In fact, buyer's agents are using your over-priced listing to help them sell the well-priced listings that come on the market.

The longer your home stays on the market unsold, the bigger the risk that it will develop a negative stigma. Your home becomes the white elephant on the market. Buyers wonder if there's something wrong with the property. In most cases, the only thing wrong is the price.

So, you reluctantly agree to lower the price. Your efforts could be fruitless if you reduce too little, too late. Meanwhile, more well-priced listings come on the market and sell.

If the market softens, as it has in many areas around the country, you might have to make further price reductions. Buyers tend to gravitate to the newer listings, not the ones that have been on the market for months. You'll have to offer a cut-rate price to be competitive.

HOME SELLER TIP: It's difficult for sellers to be objective about the value of their home. Although most sellers estimate high, some sellers, who can't believe how much their home has appreciated, underestimate the value. For best results, rely on a real estate professional for a realistic price assessment. The dynamic is changing in many real estate markets around the country. Sellers, in many cases, are no longer in the driver's seat. Keep this in mind when you select a list price for your home.

Comparable sales from a few months ago may be out of date for the current market. Even though your neighbor's home sold for an exceptional price, it may have been the only game in town at the time.

THE CLOSING: Today, you're much more likely to find competition from other sellers who want to cash in on the recent extraordinary home price appreciation.

Weekly Market Watch

I post these market updates from Larry Klapow when he sounds particularly brilliant:

April 27 – May 4

I read with interest earlier this week a Market Watch article entitled “Home price data has its flaws.” The article emphasized what we have been saying for months and what has become the basis of our Reality Check initiative: real estate consumers aren’t getting the full story and the indexes the media use to report on the housing market can be misleading because of the locations, prices, types of housing and the rates of increase these organizations track.

Just days later, Realty Times writer Blanche Evans followed that story up (http://realtytimes.com/rtpages/20080505_realtyviewpoint.htm) by slamming both Shiller’s Index and the Associated Press for being “Grim Reapers.” And, for the first time in our knowledge, S&P Index Committee Chairman David Blitzer “acknowledged his organization’s” overall and metro-market readings paint an incomplete picture.

NAR Chief Economist Lawrence Yun even weighed in noting “Just like saying the average nationwide temperature today is 57 degrees doesn’t tell you anything, the same is true for real estate prices. The only way to tell what your home is really worth is to look at local-market conditions, do Internet research and utilize professionals (such as licensed appraisers) to help determine the value of your home.”

So, with that said, let’s paint the local, Bay Area market picture. It remains one of various micro climates that are showing signs of recovery each and every day:

East Bay – The East Bay market, which has its own share of mini micro climates, seems to be flourishing this spring. The Berkeley offices reports “We’re still hungry for inventory,” while the Castro Valley offices reports that it is “extremely busy with REOs.” Fremont Manager Will Butler confirms that adage that “Properly priced listings that show well are generating activity while properties that don’t sell in the first 20 days tend to sit longer.”

North Bay – The North Bay is showing great signs of recovery. In fact, Santa Rosa Manager Rick Laws reports, “Close your eyes, click your heels and ‘Toto, something tells me we’re not in Kansas anymore.’ We’re in the spring of 2004 if you’re in the (entry level) market under $500,000. Crowded open houses and multiple offers. We have experienced a very busy week in our office. It’s good to be us.” Santa Rosa’s Marin neighbor seems to concur. In fact, Southern Marin Manager Alice Gray noted, “Things are definitely better. Multiple offers on well-priced properties. One property in Sausalito had four offers after its first open house.”

Peninsula – I hate to be a broken record, but the biggest challenge in the Peninsula remains a lack of quality inventory. Having said that, the last few weeks have shown even greater promise for this unique market. All Peninsula offices report steady listing inventory and the jury is out on sales activity with offices reporting mixed valuations of steady or increasing sales. Burlingame Manager Leigh Whitten reports that one Millbrae home had over 200 visitors and Menlo Park Santa Cruz Avenue Manager Dave Hobson reporting “a slight surge in sales activity the last few weeks.”

San Francisco – The City – which, thanks to its years of pent-up demand and its locale as a global destination, has never really felt the effects of a true real estate slowdown – seems to have received an even bigger booster shot in the last couple of weeks. One Agent in our Lombard office went in unsuccessful on 21 offers recently only to find client success two days later against 17 offers on another listing. Both homes were said to have gone over by 25-30% over asking. The Van Ness office continues to report “our activity continues at a fast pace all price ranges.”

Bulb 101

Since everyone wonders what to do once their bulbs are finished flowering, I thought I'd post a little bulb primer.

From Ed Hume;

Q: How do you care for lilies, gladiolas, and irises after they have flowered, and is it the same as for tulips and daffodils?

A: Immediately after flower, I think it is a good idea to feed the foliage of all bulbs with 0-10-10 fertilizer. This helps build strength back into the bulbs, roots and tubers for the following year. If you live in the NW or other moderate climate areas, these bulbs can be left in the ground year-round. All you need to do is dig and divide them every few years, then replant them immediately if you wish. Iris and gladiolas need full sun, while lilies need a little shade for best and longest flowering.

Which Bobbie Giarratana Helped You Through Your Real Estate Transaction?

Next month is my ninth anniversary in real estate and I'm celebrating it by working a lot. Well, I might have milk and cookies at some point, but it's going to be hard to find the time. Since I shared a potentially embarrassing photo of Nicole Kidman in my last post, I will share some of my past real estate promotional photos, to atone for my naughtiness. Time passes, hair styles change and I wonder always, "What was I thinking?"
It seems I couldn't be bothered to get a haircut before this photo was taken:

I won't live long enough to stop regretting this style:

We Do Find This Important... Really.

This Nicole Kidman real estate news has just been reported and I'm sharing it with you because I feel compelled to show off this great picture of her I've found.

Coldwell Banker Weekly Market Watch

From our Coldwell Banker pres...

Baseball season started and we’re starting to see buyers sliding into home. Yes, from all indications, the Bay Area real estate market is starting to bloom just in time for spring. We were even able to squeeze a few positive headlines out of the media this week after NAR announced an unexpected increase in February sales figures, and CAR announced that sales have been increasing each month in our state for the past four months. Compared to this time last year, the reports still indicate very slow sales. But a dip in the median price, a copious selection of homes on the market in many areas and near-historically low mortgage rates are enticing buyers off of their fences. According to CAR, a number of cities in our area are starting to see increases in median prices again, which may be an indication that those markets are already bouncing back.

There is more good news for buyers and sellers - word from our lending partners is that loan products and guidelines for the increased conforming loan limits from Fannie Mae, Freddie Mac and the FHA should be available very soon if not already. As more and more buyers continue to realize that now may be the best opportunity they’ve had in years to make that home purchase, this is starting to look like a fairly normal spring in Bay Area real estate.

Open houses continue to bring in high numbers of attendees in the majority of areas, even on a holiday weekend, and multiple offer situations continue to increase on desirable, well-priced homes. The two biggest questions most buyers ask now at open homes is, how long has the home been on the market and how many price reductions have there been. This is a clear indication that a lot of buyers are out bargain hunting and looking for that so called “bottom”. A “not very attractive” home in the Berkeley flats was listed at $549,000, had 50 disclosure packets out and sold with 15 offers on the table. A San Ramon open home had more than 50 groups attend. An entry level home in the San Leandro Manor area had nine offers. A TIC in San Francisco reaped multiple offers and sold for $50,000 over asking. Woodside/Portola Valley had three sales in multiple offer situations last week – one of them listed for more than $11 million. Menlo Park reports 75% of sales in multiple offer situations.

Sales are increasing because the bargains are out there. And who can't resist a bargain? The markets need to be tracked by zip codes and neighborhoods at this point. You can no longer just look at an entire county to get the real picture. No matter what headlines hit the papers, it is still and will always be about the price and condition of the property.

Spring is Here

I know the headlines are all doom and gloom about the real estate market dying, but remember; markets are local. Depending on where you are buying or selling, your experience may or may not match the media stories. Certain neighborhoods or even certain streets in certain neighborhoods, may be doing better than you thought after hearing the five o'clock news.

A couple weeks ago I represented a buyer making an offer for a property in a pleasant neighborhood near Piedmont Ave. in Oakland. Nice house, not huge; not cheap either. There were nine offers.

Last week I represented buyers for a property in El Cerrito. West Contra Costa County has been in the headlines recently, with those doom and gloom stories representing the sad case of some Richmond neighborhoods' declining values. Well, for that house in El Cerrito, you'd never know there was a down market nearby. This property received five offers. Reading county statistics would not have given a clear picture of the buyer response to that house.

The lesson here? It's crucial to your success in the market that you be as informed as possible from as many sources as possible. Read and listen to the news for the big picture, but listen to your agent too.

Moving With Your Pets

I found this on moversnet, a site with some really helpful information. This is all about how to prepare for a move with your animals' health and safety in mind:

Keep your pets' routines as regular as possible as you prepare to move. If you normally feed, exercise or play with them at a certain time, continue to do so. During the final crunch of moving, you may find it works best to keep your pet either at a friend's house or a kennel, reducing the chance of your pet getting upset and running away, or in the case of cats, hiding in a box about to be shipped.

Keep some form of identification on the pet at all times and be sure you have current pictures along with a written description available. This will reduce a lot of stress should your pet escape. If the length of the move requires the animal be provided with food and water, be sure the food is bland and easily digested and that the water comes from your home supply. Changing diet or water sources are common causes of diarrhea and vomiting from upset stomachs. If in doubt, check with your veterinarian for food recommendations.

Prior to moving, schedule a visit with your veterinarian for a thorough physical exam, making sure all vaccinations are current, especially the rabies vaccination. While at your veterinarian's office, get copies of your pets' records and check to see if he can recommend another veterinarian at your new location. You can also call the American Animal Hospital Association (AAHA) at (800) 883-6301 for the names of AAHA veterinarians near your new home.

If your pet is on any medication be sure to have an ample supply so you won't run out before getting settled in your new location. Also discuss with your veterinarian whether your pet should be tranquilized during the move. If so, get enough to try it out prior to the move to be sure the dosage works properly.

Since each state has different laws and regulations regarding the importation of animals and some counties and municipalities have their own ordinances, check with a veterinarian in the new area to be sure your pet complies. It is important to do this several weeks before your move to allow time for all paper work to be completed.

Temperature extremes should be avoided. In most cases, it's best to transport your animal in a sturdy, insulated carrier to help regulate the changing temperature. Never leave a pet in a hot car during the summer time or a cold car in the winter.

If you are transporting the pet by plane, try to book a direct flight to minimize the time the animal may be sitting outside the plane in inclement weather conditions. Some airlines provide counter-to-counter service so your pet will be carried on and off the plane by an airline employee. While this service costs a little more, it may be worth it for your peace of mind.

For more information about dealing with specific pets (they cover dogs, cats, birds, fish, pet rocks, etc) click here.

Happy moving!