Monday, February 27, 2006

Our National Builder Division Hits the Ground Running in San Ramon


We have been busy in San Ramon for the last month helping the first phase of 496 new home owners get their financing together. At the 'Reflections' property, one bedroom condos are selling for as little as 249,900, and 2 bedroom models are getting up around 439,900. The first release took place this last Saturday, and it was a feeding frenzy. Anybody concerned about real estate bubble conditions in the East Bay might want to keep an eye on this project, because they had more than 200 qualified buyers waiting in line for housing.

When it comes to housing prices, its all about supply and demand, folks. Good old fashioned economics. You will not see prices trail off until demand subsides. For now, strong job growth, and a general lack of supply for housing at this price in this community are going to keep demand pretty strong.

We have met some interesting people, and had quite a bit of fun out there so far. But I think this is the calm before the storm. 496 units makes for some serious paperwork, and some serious weekend hours. Have you ever bought real estate directly from a new home builder, or through a condo conversion? I'd like to hear about your experiences with this process, especially how the financing was handled. Drop me a note and tell me about it if you get the chance...

Tuesday, February 07, 2006

What is the best Mortgage?


Question: Is your mortgage a big liability, something that you feel an eager need to 'pay-off', and live debt free? Or is it a handy financial tool that can help steer your handling of your overall financial goals? Maybe a little of both?

What is the best type of Mortgage?

-Lowest rate
-Lowest payment
-Most flexible payment
-No mortgage at all!
-other

I would love to hear from you on this. Please email me with a response, and a brief explanation for your answer. I will follow up on this topic based on your answers.