THE SECOND STORY | January 9th, 2014

Sailing away…real estate in 2014 Alameda-style!

I’m going to show some of the photos I took of last summer’s America’s Cup Racing…off St. Francis Yacht Club (at the marina green, near the Golden Gate Bridge).  Will probably do it over a few weeks.  Up close and personal!

BOOMER-CHICK-MUSINGS  my take on what the heck is going on out there (from my little world perspective)!

COMMENTARY
Last week I mentioned that ARMs are baaack! This type of loan does have a function and purpose, and are used almost exclusively in commercial real estate financing. For the most part there are NO 30 year fixed loans in that category.

If you know you can get a fixed rate for a certain amount of time (3 years, 5 years, 7 years, etc) and then you will move shortly before that term is up…an ARM could be right for you.  They start lower at lower than fixed rates, but the terms need to be reviewed thoroughly because they are not for everybody.

In searching the internet I found a handbook from The Federal Reserve Board – Consumer Handbook on Adjustable-Rate Mortgages. It’s logical and easy to read.   We go straight to the source!

The next big deal is to get a lender you trust…I was just asked  to give some referrals to lenders today.

one cool thing wanted

ALAMEDA REAL ESTATE THIS WEEK…
Broker tour Tues  5 on tour, 1 BOM.  They were all at 94502…4 of them were water oriented (1 of the 4 was looking over to Oakland across the bay where SF Bay meets San Leandro Bay.  Others were looking to the lagoons.

Active listings 36, pending listings 42

New  9
BOM back on market  3
Pending  4
Sold  5
Withdrawn temp  1
Withdrawn/cancelled  2
Expired  1

ALAMEDA REAL ESTATE AWARDS THIS WEEK…
Get me a facelift!
Got me a major makeover!  This was purchased for 495K in 1997! There have been a few up and down markets since then.  This was a lovely home.

Please feel free to contact me asking for vendor referrals….lots of folks do!

That’s a wrap!  Make it work!  Carry on!

best, marilyn