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Lee Ginsburg is an award-winning Realtor with 30 years experience in Peninsula residential real estate. With the utmost attention to detail, Lee delivers expert marketing, negotiating, and management of all financial matters. With a strong commitment to honesty, fairness and hard work, Lee has successfully helped first time home buyers, move up buyers and investors.

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Saturday, February 28, 2009

Top 10 Reasons to Purchase Bay Area Real Estate in Today’s Market

1. Interest Rates are near 40 year lows. You can lock in your housing costs for the next 30 years if you buy not if you rent.
2. Property Values are at 5 year lows. Some areas have declined in value as much as 60%. Bay Area Real Estate has a long history of recovering and appreciating.
3. There is a large inventory of homes to choose from with Motivated Sellers. Individual owners and banks selling today must sell.
4. Getting a loan today is not difficult. It is easy. Just show you can make the payments.
5. Conforming Loan Limits have been increased to $729,750 allowing for low interest rates on these loans.
6. FHA has loan programs with a minimum of only 3.5% down. Veterans can take advantage of VA loans with no money down.
7. First time Home Owners will receive an $8000 Federal Tax Credit. (First time is considered not owning a home in the previous 3 years.) Income restrictions apply.
8. Any buyer regardless of income or ownership type will receive a $10,000 California State Tax Credit when purchasing a new home or condo. It is suggested to use a Real Estate Agent to assist you in negotiating even more with new home builders. First time New Home Buyers can combine both Federal and State credits for a total of $18,000.
9. Investors can obtain a positive cash flow in some areas with 25% -30% down.
10. You will be respected as a good and smart American doing your part to help our economy. You will receive a personalized Thank You note from Pres. Obama, Gov. Schwarzenegger, your Realtor and Lender. Oh! In 5 years you will take me for dinner thanking me for helping you make so much money. It is a Window of Opportunity. This is the Bay Area Real Estate’s “Perfect Storm”. It will not last forever!!! Don’t let it pass you by!!!
“It Is Better To Own Real Estate and Wait, Than Wait to Own Real Estate”

Wednesday, February 25, 2009

Buyers Stimulus Package -3Br/2Ba Condo- Only $499,000

Buyers Stimulous Package -3Br/2Ba Condo
Brittan Heights
3322 Brittan Ave. #4
San Carlos

  • Nestled in a Secluded Tree-Lined setting near the Pulgas Ridge Open Space Preserve in the San Carlos Hills.

  • Masterbedroom Suite with a large walk in closet

  • Remodelled Kitchen with Granite Counters, Maple Cabinets, Pergo Flooring, Stainless Appliances

  • Large separate Laundry room with Maple Cabinets and individual Washer and Dryer
  • included
  • 3 sets of sliding doors, opening to private areas, give the single family home feel

  • Ground floor end unit in a building built as a Condominium
  • Separate Dining area with pergo flooring

  • An inviting Living Room with a wood burning fireplace and built in custom book case

  • The complex offers 4 Pools, Tennis Courts, Barbecue Area, Car Wash Area, Clubhouse, good neighbors, quiet surrounding, and Good Professional Management

  • Conveniently located near the vibrant Downtown San Carlos with Shops, Cafes and Restaurants, Crestview Park, Hiking Trails and easy access to 280, SFO, Silicon Valley, and East Bay & San Francisco.
  • $8000 First Time Home Buyer credit



Monday, February 9, 2009

Housing Stimulus Package - An Open Letter to Politicians

To Congress Woman Jackie Spier, Senator Diane Feinstein, and Senator Boxer

I am a local realtor specializing in San Mateo and San Francisco Counties Real Estate. I do not think the $15,000 Home Buyer Tax Credit in Economic Stimulus Package is making best use of the tax payers money.
First and Foremost to stop and slow down the hemorrhaging of the Real Estate market we must try to limit foreclosures, short sales and strive to keep the homeowner in the home. A very common situation is a homeowner with a $700,000 mortgage on a home with a $500,000 value in today’s market. A loan modification of interest rate reduction will not do the trick. Debt forgiveness or I suggest debt set-aside will make more sense for both the owner and the mortgage holder and the market place. I suggest that the first lender modify the loan principal to the market value as long as the owner is qualified to make those payments. The remaining balance owed will be set aside until the property is sold. When it is sold the owner and lien holders will share in the increased equity 50/50 or maybe 25/75. The owner must be given some incentive to continue making the payments and maintaining the home. The owner is wining from the upside and having a place to live, the bank is wining by converting a non performing loan into a performing loan and also by saving a minimum of $50,000 in the foreclose and resale process, the American People win by having less distressed homes on the market bringing the prices down further. Other positives are homes are not abandoned, homes are maintained, property taxes are being paid, are just a few. The second lien holder may not be satisfied so possibly some money from the Economic Stimulus package could be used to satisfy them. I believe if these homes are held for five plus years all lien holders will get pretty much all of their money back. If not maybe the set-aside principal will follow the owners to their new home.
The present plan of a Home Buyer Tax Credit and waiving any payments after purchase is not a motivating factor to buyers. It is a bonus or a reward but not a stimulus. It is not helping more people purchase homes. If we cannot keep the home from foreclosure the following are suggestions I offer:
· Use money from The Economic Stimulus Package to let new homebuyers upgrade their home. Many of these distressed homes on the market have lots of deferred maintenance. Many homebuyers presently cannot purchase these homes because after their down payment they do not have money for repairs. Less people able to purchase homes brings values down more making even more homeowners owing more than the home is worth. Let’s assume the appraiser says the home needs a new roof or appliances a Federal Grant from the Stimulus Package is given to the buyer at the time of closing for this sole purpose. This might be difficult to monitor but it will add more equity to the property, upgrade neighborhoods, put contractors to work and allow more people to purchase a home.
· Use money from The Economic Stimulus Package to buy down interest rates creating lower monthly payments and allowing more people to purchase a home.
· Use money from The Economic Stimulus Package to add to buyers’ down payment adding equity and lowering the buyers’ payments allowing more people to purchase.

I do not support lowering loan qualification requirements.
I understand there is immediate urgency in getting a plan in place. The present plan as it stands will definitely help and we need that. Please do not delay passing a plan any longer. I might be late with these suggestions but please keep them in mind when a new or revised Stimulus package is discussed.

Lee Ginsburg CRS,SRES