Good Advice from Eric Trailer

Per Eric Trailer:

Call him for your loan, he is exceptional!

"I received over a half-dozen phone calls or emails on Wednesday asking, “What will happen to mortgages now that Fannie and Freddie have been delisted from the New York Stock Exchange?” And the answer is, “While it’s rarely good news when any company gets “pink sheeted”, the handwriting was on the wall since the stock price was treading below $1.00 since the beginning of May. Since you and I (and every other taxpayer) own Fannie and Freddie, and since they represent the secondary mortgage market, they’re not going anywhere and loans in process as well as future loans will continue to fund...”



Builders continue to be pessimistic, according to the latest sentiment index coming in at 17 (a reading below 50 indicates poor sentiment), and they are warning that we may actually experience a housing shortage due to reduced housing supply. This is a bit tough to buy into, especially given last month’s report from Barclays on shadow inventory peaking this summer. But it does provide them a great excuse to ask the government/taxpayers for relief.



The CA tax credit for home purchases now has over 115,220 applications, representing over $136,000,000, but the state continues to encourage first-time homebuyers to submit applications since they only count 57% of the funds requested… The New Home Credit, however, has only 5,630 applications and reservations requested, representing only $51,0000,000— about half of the funding allowance.

If you or your clients are worried about the deadline on the Federal Tax Credit.., it’s likely that an extension will be granted.



Good news on the appraisal front is that I received word from a credible source that CAR will be sponsoring a bill that will eliminate the allowance of property tax stamps to be placed on the back of the deed. While this may be a sensitive privacy issue, the fact is that every hidden sale compromises an appraiser’s ability to make a proper value determination on a given comparable property, which is about the last thing that we need in a recovering market where comparable sales are tough enough to come by."

Running like a wild woman!

Running, running that seems to be the name of the game this month. The activity level is great and no inventory....makes for multiple offers. That is good for my Sellers and challenging for me on the Buying end; just my cup of tea! The Relay for Life went well in Los Altos at Eagan School but it was sooo hot! I stayed home.

I sign off Deodara this week and wait for offers on Clay. The College properties are getting ready. All this and show season just started. The mare is locked in and ready as long as there is no operator error!

All for now.....

When in Rome my leetle friend!

A certain Realtor in the Los Altos area seems to think that the PRDS is obsolete. Does this person not realize that the PRDS is an integral part of the workings of SILVAR? Really, these whipper snappers with their brilliant ideas come along and want to change everything that has taken decades to create! Would it not be an excellent idea to first find out why it exists? Not only that it is way more "user friendly" than the CAR contract. When in Rome my little friend who has probably sold 3 houses! When in Rome.....

Is anybody out there???

The Los Altos listing is in contract and the Pacific Heights listing is now on the market. More listings coming on and two new Buyers! It is turning into a great year.

I have decided that a certain staging company J_ _ is the worst ever. I had never used them and my clients used them because a friend recommended them. The stuff that came was old...the glass on the pictures was cracked...really shoddy. They replaced the bad pillows and furniture with new that they went out and bought at Ikea...point for them but left the pictures...point taken away. Now my clients who are moving in two weeks, were told that these prima donnas need a week to schedule the removal of their items. Really bad form. My stagers...Artistic Decor, owned by Sheri Quirk, really work hard. Whatever I need they do...no questions no hassle and all of their items are immaculate! I guess J_ _ got too big for their britches.

I am wondering why I write this thing...nobody reads it but me!