Though housing prices have fallen, in most places they prevail alarmingly high when compared with rents and incomes. A bank norm for a safe mortgage is a maximum of 3 times the annual income of a buyer with a down payment of 20%. According to landlords, a safe mortgage runs to a maximum of 15 times the income from annual rent. However these norms are being grossly violated on the coasts. With a 3% down payment, buyers are borrowing as much as 6 times their annual income. Even with declining prices, sellers are quoting as much as 30 times the annual rent.
Dale Warfel’s Bay Area Expertise
Dale Warfel is a realtor who buys and sells housing properties in the Bay Area. He is an experienced real estate agent who guides a buyer or seller as to a fair price for a property given the uncertain times and the neighborhood. He can also advise a buyer on a safe and affordable mortgage. San Jose real estate can be confusing to the unfamiliar, since there are so many neighborhoods. Dale Warfel’s website www.dalewarfel.com contains comprehensive data on homes in San Jose communities. It offers a homeowner an expert assessment of the value of his property and a buyer can search San Jose MLS – and all this for free. Dale Warfel can be contacted at 408.624.6202.
The home buying process in California is different than most other states in the country. An offer is invariably made in writing, accompanied by a deposit check for 3% of offer price as a measure of ‘good faith’. The agent then presents the offer to the sellers and their agents. The buyer and seller never really get to meet.
Before then, a good agent will conduct an interview with the buyer to ensure he/she is ready and able to buy a home and is aware of the implications. The agent will also require full details of the home the buyer is looking for. This gives the agent a clear picture to take the buyer to the ideal home he/she is looking for. No good agent proceeds without an initial qualifying interview. The agent will then take the buyer through the loan process. An approved loan puts the buyer in a strong negotiating position.
An Experienced Bay Area Realtor
Dale Warfel has been buying, selling and investing in Bay Area real estate properties since 1997. He is fully conversant with the real estate laws and procedures. Dale Warfel is a skilled realtor and has concluded numerous deals to the satisfaction of both the buyer and seller. He can be contacted at 408.624.6202. His comprehensive website is at www.dalewarfel.com. Apart from listings, it contains useful information for both buyers and sellers.
The collapse of the housing market is what triggered the current economic meltdown. Housing determines consumer confidence and bank behavior. Lack of consumer confidence reflects in a falling housing market, as the United States has been witness to. The present financial crisis is unlikely to improve till the housing market demonstrates a recovery. Where are housing prices headed, in this New Year? That is a question no one has an answer to. Broad economic indicators like price to rent and price to income ratios along with prevailing housing inventory all point to housing being far better placed than last year. But housing is still far from cheap. Worse, the foreclosure plan and first time homebuyer’s credit are due to expire during the current year. When that happens, there is every possibility of a negative impact on prices. It would hence be fair to assume that housing prices have not seen the bottom.
San Jose Housing
Despite the ups and downs of the economy, Dale Warfel, a real estate agent of many years standing has been buying and selling homes in San Jose and other surrounding neighborhoods. Dale Warfel knows the area intimately having worked in it for the last 13 years. He has established a reputation for reliability and integrity, which remains unshaken despite the vagaries of the uncertain housing climate. To buy or sell Bay Area real estate property, do contact Dale Warfel at 408.624.6202. His website www.dalewarfel.com is a fund of useful information for buyers and sellers.
A foreclosed home or property is an attractive proposition as it is usually available at well below the market rate. The possible saving has attracted many homebuyers. Unfortunately alert investors come to know of such bargains well before and close a deal long before the homebuyer. To preclude speculators and investors, Fannie Mae launched its First Look initiative in November to promote home purchases by owner occupants. Under the First Look initiative, for the first 15 days a property is put on the market, the only offers to be considered are those from buyers using public funds and owner occupants. It is essential for eligible buyers to act immediately on these properties in the first few days to exploit this competitive advantage. Fannie Mae and Freddie Mac together are the two largest foreclosed homeowners in the nation. It is estimated that Fannie Mae alone holds an account of over 75,000 foreclosed properties in its REO inventory.
Buying Foreclosed Properties
Dale Warfel is a long-standing realtor who operates in the San Jose neighborhood and surrounding areas. He also deals in foreclosed real estate properties in Almaden Valley for which he holds a hot-list of listings on what is available. Dale Warfel is able to guide a homebuyer in the advantages and disadvantages of a foreclosed property purchase. He can be contacted at 408.624.6202. Please visit his website, www.dalewarfel.com and check out the hot-list of homes for sale in Willow Glen.
California has been battered by 30% unemployment, increasing bankruptcies and an economy in shambles. The state is a classic example of the consequences of unethical mortgage lending practices tinged with Wall Street manipulation. Real Estate has survived through unprecedented financial losses. California has faced the worse economic meltdown since the Great Depression. Nonetheless, housing markets are poised for a faltering U-turn in some parts of the state.
A recent spurt in sales has slashed the inventory of homes in some neighborhoods of the San Francisco area. In the Bay Area, home prices will have to drop further before activity resumes to match the demand. The forecast for San Francisco is a 6.8% deflation for the year. The situation is likely to be worse in Silicon Valley and the Bay Area where housing deflation is projected to touch 8.9%.
A realtor from Santa Clara County
Dale Warfel is a real estate agent with 13 years of dedicated experience in the real estate market, who operates in buying and selling homes in San Jose. He has a number of foreclosed properties on his listings that are available at bargain prices. Dale Warfel is a Certified Short Sale Professional (CSP) who has come to the assistance of many a distressed homeowner facing imminent foreclosure. For information on available San Jose homes for sale or real estate properties in Santa Clara County and for assistance in short sale negotiations, call Dale Warfel at 408.624.6202 or email him through his website www.dalewarfel.com.
Housing prices have not reeled under such a blow since the Second World War. Expectations are high and a new housing bubble is in the making. But industry analysts are guarded, deflating hopes of double-digit appreciation. Instead they predict an unsteady, tortoise-like rise. The Fed has been mopping up mortgage notes so far, which is likely to end soon. In an effort to woo homebuyers back into the market, the Board of Governors is keeping interest at or around zero percent.
The embryonic housing bubble is nurtured by the Fed’s goal to resuscitate the housing market and stimulate economic recovery. However, little has been done for real estate speculators and investors, entrapped in the foreclosure vortex. A record inventory of foreclosures will be on offer, as soon as the banks raise the mortgage floodgates. Property prices in the major part of the country are expected to see a further decline if the government does not take firm measures with bankers, to work with homeowners facing foreclosure.
Forecast for the Bay Area
Housing markets in some parts of California appear to be poised for a turnaround. The turnaround is likely to take place at snails pace in the Bay Area where large numbers of sub-prime and adjustable rate mortgages were transacted.
Dale Warfel is a Bay Area realtor backed by 13 years experience. He knows the territory and is on top of fluctuations in real estate prices. He has been of invaluable assistance to homeowners in effecting short sales to avoid foreclosure. Dale has a listing of foreclosures for investors and homeowners looking for a bargain. To contact him, call 408.624.6202. For more on Bay Area homes listings, please access his website at www.dalewarfel.com.
A house should be presented at its best to fetch the best price and attract buyers. But the cost of staging a house can be excessive, well outside the reach of a prospective seller, especially for a vacant property. Props and furniture will need to be hired which makes the staging cost prohibitive.
Many home sellers and realtors are resorting to virtual staging, resorting to computer technology to adorn their potentially listed homes for sale with furniture, photos and other décor. Many buyers today use online photos to narrow their choices, so this method makes sense. Today professional stagers can create staged images of a home at a fraction of the cost of physical staging and in double quick time. The images, which are stunningly realistic, veer away from the idea that they are computer generated.
Dale Warfel for Bay Area Listings
Dale Warfel is in the business of buying and selling homes in San Jose and other surrounding neighborhoods in California. He is an experienced realtor who knows the area intimately and keeps his ear to the ground for Bay Area homes, condos and general real estate that are up for sale. Dale Warfel offers advice on buying and selling and staging a home for sale. His website, www.dalewarfel.com is a fund of information. This Bay Area realtor can be contacted by calling 408.624.6202.
The Federal Mortgage Program has been extended once already. The revised date of termination is currently end of first quarter 2010. But the Fed is worried that the private market may not be able to survive without the support of its program. If market conditions show no improvement when the program is scheduled to end, the Fed is very likely to extend it further. If and when the Fed decides to end the program, market gurus forecast that mortgage rates are likely to rise to perhaps 5.75%. More than likely rates will run around 5.5%, as soon as the program ends. The state of the economy and the job market situation will determine any shift from this median. Gurus feel that the rates will even out at just below the 6% mark.
Dale Warfel San Jose Realtor
The neighborhoods of San Jose are Dale Warfel’s territory. He has been working the area for nearly 13 years now, having bought and sold homes, properties, condos … in fact anything in real estate. Dale Warfel has lived all his life in Santa Clara County which makes him a true son of the soil. By discipline, Dale Warfel is an engineer but has since been accredited with numerous real-estate designations. Please visit his website at www.dalewarfel.com to know more of him. Peruse the testimonial page to learn of his many eminently satisfied clients.
Before you start looking for a home loan or mortgage, be clear in your mind on what exactly you’re looking for. This will save a lot of time chasing deals that wouldn’t suit your need. Here are some steps that will help:
- Ask friends and acquaintances who have been through the mill for their experiences and recommendations.
- Talk to banks, mortgage companies, credit unions and brokers. Study and compare the various offers.
- Check out websites that tell you about thousands of loan deals from various lenders. You will be required to enter a few details of what you’re looking for and be directed to a list of lenders that meet your requirements.
- Major Banks, Building Societies and Finance Companies have special offers. Details are available on their websites.
- Loan deals are also available through brokers. Brokers search the market for the best deals saving you a lot of work.
Dale Warfel and Bay Area Properties
Dale Warfel is a Bay Area realtor backed by 13 years experience in buying and selling homes in San Jose and the surrounding neighborhoods. His website at www.dalewarfel.com is a fund of information for buyers and sellers. It also contains a rundown of the most popular areas in and around Almaden Valley and Willow Glen. Dale Warfel lists foreclosures and offers a free market analysis of your property. To contact him, please call 408.624.6202
The three customary methods Property appraisers use, to assess Property values are:
1. The Comparison Sales Method: The comparison sales method uses recent sale prices of comparative properties of the same size, quality, features and amenities as a benchmark for assessment. Suitable adjustments have to be made for properties sold at unrealistically high or low prices.
2. The Replacement Cost Method: The replacement cost method is based on an assessment of the cost involved in rebuilding the property with construction materials and methods of equivalent quality. The best method of getting such an assessment is through an independent insurance broker attached to an insurance company that covers property insurance.
3. Income Method: The income method is used when estimating the value of an income producing property. It is based on the net income potential of the property.
Dale Warfel and Property Assessment
Dale Warfel is a realtor who deals with properties in San Jose neighborhoods. He offers a free comparative market analysis of any Bay Area home. You can fill in the details by clicking on http://dalewarfel.com/Nav.aspx/Page=/HomeValue/Default.aspx. Dale Warfel can be contacted at 408.624.6202. This Bay Area realtor has 13 years of experience in the real estate market, which has made him completely familiar with property price movements in this particular area of California.
