FEATURED LISTING

902 BEACH PARK BOULEVARD #135

$428,000

Welcome to popular Sand Harbor South. Enjoy this first floor one bedroom and one bathroom condominium. Maintained in excellent condition and recently painted this home offers a generous master bedroom with walk-in closet, spacious living and dining area with a cozy wood burning fireplace, and access to a private and enclosed patio. The kitchen has an expanded pantry area and full sized washer and dryer. The development offers many amenities, such as, a beautiful full sized pool and spa, clubhouse, and walking trails and pathways along Foster City´s waterways. Association fees are only $395 dollars a month which includes hot water, garbage, common areas and a professional management company, PML.

7 KEY POINTS ON WHY IT IS STILL OKAY TO BUY IN THE BAY AREA

1. 35% of the homes in the U.S. do NOT have a mortgage.
2. 94.88% of all loans ARE performing.
3. The foreclosure problem in this country is really a story of seven states.
4. The BIGGEST foreclosure problems are in Michigan, Ohio, and Indiana. These are manufacturing states that had horrible job losses. Since 2001, Michigan has lost 300,000 jobs. These states would have had problems no matter what the market condition happens to be.
5. The other four states, California, Florida, Nevada, and Arizona----experienced significant overbuilding. Twenty-five per of the foreclosures in these states are on properties that are held by investors who were speculating.
6. ONLY 25% of all mortgages are subprime, and of these 75% are performing.
7. In the other 43 states, foreclosures have fallen in 2007 from 2006.
(In California which is the predictor of what is to come in Florida, the following is being said……)

According to Leslie Young, chief economist for the California Assoc. of Realtors, (which mirrors what we are seeing here) that the areas being hardest hit in California are the outlying areas where there has been overbuilding. The resale market in California’s major markets continues to be strong. In fact, the closer you are to a metropolitan area, the better the sales are. In the million-dollar plus price range, there has been essentially no change from 2006 to 2007.

HISTORICAL PERSPECTIVE ABOUT REAL ESTATE CYCLES

Here are some comments analysts have made in the past. We are in the 25th month of a current housing downtown. When you read the comments below just think about what would have happened if we would have listened. History often repeats itself and in this case, the media's projection of the real estate market sometimes misses the mark. And, remember to keep in mind the economic law of inflation.

"The goal of owning a home seems to be getting beyond the reach of more and more Americans. The typical new house today costs about $28,000." - Business Week - 1969

"The median price of a home today is approaching $50,000...housing experts predict price rises in the future won't be that great." - National Business - 1977

"The golden-age of risk free run-ups in home prices is gone." - Money Magazine - 1985

"A home is where the bad investment is" - San Francisco Examiner - 1996

LOCAL BUSINESS OF THE MONTH

GABE BODNER - Mortgage Planner with Lawson & Associates
http://www.bayareahomefinancing.com/
408.426.4416

Each month we will be promoting local business owners who we recommend. Consider them part of "our team". In order for us to do what we do well, we need to associate ourselves with people who are professional, have a focus on customer service, and easy to refer.

As Chamber members it is important to build a community of services on the coast. If you always need a plumber, electrician, or anyone else who provides a service, you can guarantee you Local Realtor knows someone.

This month we chose Gabe because of his willingness to provide phenomenal service for us and his clients. Professionalism and experience has never been as important as today. With the media providing fear in the minds of borrowers (i.e. mortgage meltdown), Gabe will be attentive to your needs regarding mortgage planning. Whether it be refinancing, a first time home purchase, moving up or anything else you can guarantee that he will get the job done.

He also lives by the same philosophy as Rose & I as a "BY REFERRAL ONLY" agent. His goal is to provide services above and beyond the average mortgage planner where you feel comfortable enough referring him to a family, friend or colleague. This leaves more time where he can focus on getting the best loan for you and your family.

Also, you can read his posting below titled "Why Buy Now?". Feel free to comment.

Well, Congratulations Gabe! You are our first "Local Business of the Month".

--- Should you need any further information please do not hesitate to call! Nate