Silicon Valley hiring on the rise !!

Good rainy evening! Saw an article today and thought I would share some of the highlights with you.

"Unemployment drops to 10.7 percent as 4,800 jobs are added in October"

Silicon Valley employers added jobs in October, and the unemployment rate in the San Jose metro area dropped to 10.7 percent. By contract, the combined unemployment rate in Santa Clara and San Benito Counties was 11.2 percent in September and 11.8 percent in October 2009.

Employers in the two counties added 4,800 jobs in October, with big seasonal gains in public and private educational services. The number of jobs in the professional and business services and manufacturing sectors were up more than usual for the month.

The total number of jobs in the San Jose-Sunnyvale-Santa Clara metro area was 858,300 up 0.5 percent from a year earlier. Manufacturing led the way, expanding by a net 4,000 jobs over the year. Within manufacturing, most of the gains were by computer and electronics makers.

Statewide, the unemployment rate was unchanged at 12.4 percent, although employes added 39,000 nonfarm payroll jobs. By contrast, the U.S. jobless rate was 9.6 percent in October.

QE2: Fed pulls the trigger

QE2: Fed pulls the trigger

Michael Franti & Spearhead - Say Hey (I Love You) - Giants Version

A+3.8+Percent+%26%238220%3BSales+Tax%26%238221%3B+on+Your+Home%3F

A+3.8+Percent+%26%238220%3BSales+Tax%26%238221%3B+on+Your+Home%3F

What are your thoughts ???

Was the recession really "over" in June of 2009?

Thoughts?

GREEN PUG RECYCLES! and changes lightbulb, carpools...

MORTGAGE RATES FALL YET AGAIN

This came from the Chicago Sun-Times today, 09-03-10.

Mortgage rates have hit a new record low for the 10th time in 11 weeks as investors continue to turn to Treasury Bonds as a safe haven; the shift in money is cutting yields, which mortgage rates tend to follow.

Freddie Mac reports that 30-year fixed loans averaged 4.32 percent, down from 4.36 percent a week ago; and the 15-year fixed rate fell to a new low of 3.83 percent, down from 3.86 percent.

As I commented in my last posting, this is 'free' money. Does anyone remember the days of 15%, 18%, 21% mortgage rates? Umm.. guess that would telling our age now wouldn't it?

Have a nice Labor Day weekend. Until next time - "Live Aloha"..... Meg

5 Reasons Homeownership Trumps Renting

This is an article from the New York Times, Ron Lieber, August 27, 2010, I thought would be of interest to all renters who are unsure of homeownership. What are your thoughts on this article?

"The seemingly endless run of bad housing news is discouraging some potential home buyers from considering a purchase. But the truth is that the advantages of homeownership have very little to do with investment gains. The best things about owning a home have a lot more to do with personal comfort and satisfaction.

Here are five of them:

Be your own landlord: The bank can only kick you out if you don't pay; a landlord can be much less dependable - deciding to sell the property or choosing to live there themselves.

Paying the principal is forced savings: Yes, it's possible that home prices will fall further. It is also possible that your 401(k) will lose value. But over the long haul, both are likely to enjoy modest gains in value.

Fixed-rate mortgages never rise - and eventually you pay them off. With mortgage rates at record lows, people who buy now are locking in real bargains.

Good schools: Family-sized rentals are harder to come by in areas with excellent public schools.

Spacious properties in pleasant neighborhoods: Sizeable homes in attractive communities are almost always owned - not rented.

Source: The New York Times, Ron Lieber (8/27/10)

Thoughts:

All very good points.

As a renter, one can never be certain how long they will be able to rent a home. In the S.F. Bay area, to rent in a good school district does, as in any market, command a high price. When inventory for rentals shrinks, it gives the landlord the ability to raise rents. I have never heard of a landlord that "reduced" the rent because of an economic downturn. If one is lucky, instead of a 7% increase yearly, you may see a lower %increase but certainly not a reduction.

As far as "pleasant" neighborhoods, this is very true. If I have had renters relocating to our area and want a specific town (such as Atherton), it is a matter of networking with agents to find out who may have a home that was listed, did not sell but they are up to renting for a year (or two) until the market gets better and then it is back on the market. For someone coming on a 1-2 year assignment, that would work out for them. For anyone else - it is back to the drawing board.

"Rent", is nothing more than throwing your money down a hole. With interest rates at historic lows, it is literally "free money". If one has stable employment, good credit score and can qualify for a loan, be it an FHA loan or conventional, it's a good time to purchase in our area.

Hope you all have a safe and fun Labor Day weekend! Until next time, Live Aloha!! Meg

Global economy going nowhere fast

Global economy going nowhere fast

30-year mortgage at lowest rate since 1971

30-year mortgage at lowest rate since 1971

Is this finally the economic collapse?

Is this finally the economic collapse?

Stocks rally on housing report

Stocks rally on housing report

New Blog Template...

Ahh.. new templates.

As I was pressing the "Publish Post" button for my last Post, I was thinking "I wish I was on a plane...." :) Well, I guess we all have that thought these summer days, don't you? So, I saw this template where you have the feeling you are looking out the window of the plane, so high above everything, floating to your destination (right now, I wish it was the Mauna Kea Resort in Hawaii) and I thought "THIS IS PERFECT" !! Only problem in my imaginary flight is that the wing should not be "ahead" of me ----- but BEHIND me !!!! Live Aloha.. Ciana (Meg)

Hope everyone has had a nice weekend. Beautiful weather here.

Thought this was noteworthy for any buyer "sitting on the fence" but wants to purchase in Palo Alto. Palo Alto has always had the stigma of "If you put a trash can on the sidewalk you'd make money on your property." History has shown us that in the peninsula, Palo Alto is the "last" city to be affected in challenging times and the "first" city to go up. The following are a few examples of this. These were homes that were listed & sold in June, 2010.

2326 Hanover, Palo Alto - College Terrace area.

Newly constructed "82 year old" home; 6 bdr/3ba, 40,26 sq.ft. home, listed at $2,598,000, SOLD with pre-emptive offer of $2,700,000. Zero days on market.

536 Lowell Avenue

Approx. 50x200 sq.ft. lot

3 bdr/2ba home

Listed at $2,198,000 and SOLD for $2,260,000. 36 days on market.

1407 Pitman

This was a 9,300 sq.ft. lot.

Listed at $1,898,000 and SOLD for $2,000,000. Zero days on market.

951 Maddux

This 4 bdr/2ba, 1,428 sq.ft. home w/6,000 sq.ft. lot SOLD Off-Market for $1,075,000.

Then, my favorite.

585 N. California -- Old Palo Alto. 3 bdr/2ba, 1,604 sq.ft. home on approx. 8,000 sq.ft. lot, Listed at $1,350,000 and SOLD, with 19 offers, for $1,800,000.

Ahhh.. Palo Alto.

To end for this evening --

Menlo Park.

990 Berkeley Avenue, Menlo Oaks area.

Home ready to be demolished. 15,960 sq.ft. lot for building.

Listed at $698,900 and SOLD for $1,022,687.

Think we'll be seeing some new construction starting up again.... Until next time. Live Aloha. Ciana...

Worthwhile Article on First Time Home Buyer Grants Almost Free Money

First Time Home Buyer Grants Almost Free Money

Most individuals underestimate the amount of money they require to purchase their new home, and very first time house buyer grants can provide the free cash individuals need for closing expenses. Between down payment money, moving charges, title fees and outstanding debts together with your current property, buying a new home is really a large financial dedication. These grant applications can significantly decrease this monetary burden and provide you with the money you need to purchase a new home.

Firs time home buyer grants could be obtained by millions of eligible house buyers, yet most individuals are largely unaware that these applications exist. These grant applications aren’t loans. First time house buyer grants are additional funds that home buyers can obtain to pay the down payment on their loan or improve closing costs. With regards to the particular grant you are approved for, the cash obtained might be able to cover your entire advance payment.

Because grants are not loans, you’ll never be asked to repay this money. In most cases the terms state which you should own your home for at least three years, which prevents property investors from buying and quickly selling properties for a profit with free of charge government money. So who qualifies for first time house purchaser grants?

These applications are offered by various government and private organizations, which means eligibility requirements vary from plan to plan. In most cases, however, a first time home buyer is classified as an individual who has not owned a home within the past three years. Obtaining these funds typically has nothing to do with your credit score or income, and because you in no way have to pay this cash back, you do not require any kind of equity or a co-signer.

As soon as you view the list of grants accessible in your area by utilizing the links below, you’ll be able to instantly apply for first time house buyer grants. Those who qualify can have money in hand in as little as a week, saving yourself thousands of dollars within the purchase of your new house. If you have any intends to remodel your new house, you may qualify to receive free of charge home improvement grants too. The money is available, but very first you’ve to discover out if you qualify to obtain it.

Looking to find the best deal on First Time Home Buyer Grant , then visit to find the best advice on First Time Home Buyer Grant for you.

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This entry was posted on Friday, June 18th, 2010 at 2:53 pm and is filed under Business Credit. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, ortrackback from your own site.

Mortgage Rates Might Not Be Low For Long.....

According to REALTOR Magazine, the near-record low mortgage rates seen during the past few weeks may not be around too much longer.

Signs of improving economic conditions could lead Federal Reserve Chair Ben Bernanke to RAISE key interest rates, which would drive up mortgage rates, according to Chief Economist at Pierpont Securities LLC, Stephen Stanley.

Evidence includes more consumers are paying their bills on time. Past-due accounts at American Express declined 34% compared to a year ago. Target Corp., reported its lowest delinquency rate in two years during the second quarter.

Another sign of economic improvement, fewer banks reported tightening lending standards in the month of May, one reason consumer borrowing rose for the second time in three months.

"If lending standards start to stabilize, that will be another reason to remove the emergency measures, including the zero rate", says Jay Bryson, Sr. Global Economist at Wells Fargo Securities LLC in Charlotte, N.C., whom formerly worked at the Fed in Washington.

Until next time -- Live Aloha!! Ciana

Source: Bloomberg, Bob Willis & Anthony Feld, May 28, 2010

Wills and Trusts

I have clients whom are interesting in exploring a 1031 Exchange. During my conversation with them, I realized that they really did not understand the difference between a "Will" and a "Trust". I therefore wanted to share some general information with all of you on this topic.

Many 1031 Exchange clients hold title to their investment property in a Trust. Here are the basic differences between a "Will" and a "Trust".

Will:

• A Will is a legal documents which states your intentions. It identifies to whom you wish to pass your property & money to upon your death.
• A Will MUST be administered by Court Order via probate process.
• Probate can be costly. Fees are set by law and computed based on the gross value of the Estate.
• A Will is part of the public record.

Trusts:

• A Trust allos you to transfer legal title of your property to another person (or to yourself as Trustee) to hold for the benefit of yet another person (beneficiary).
• Trustor -- Person who owns the property and creates the Trust.
• Trustee -- The person designated to make all the decisions about the money and property in the trust.
• Beneficiary -- The person who will receive the assets upon Trustor's death.
• Revocable living trusts are income and estate tax neutral (they do not have a unique taxpayer ID number)
• Trusts are not part of the public record and therefore are private.

A quick update on the differences.

If you are contemplating a 1031 Exchange and would like the names of some very qualified 1031 Exchange companies, please let me know.

Until next time -- Live Aloha!! Ciana