Archive for February, 2008

A “Pre Postmortem” on Hillary’s Campaign

By Alicia Lanier, REALTOR

Of course, we know “it is never over until the fat lady sings” – especially in this incredible election year. But pundits and talking heads have begun endlessly speculating that Senator Barack Obama has already left Senator Hillary Clinton without an onstage pass for the spotlight at this summer’s Democratic National Convention in Denver.

One of the most interesting opinions was a blogpost yesterday in Huffington Post by Dylan Loewe: Where Hillary Went Wrong: A Pre Postmortem. I suggest you check it out … it’s provacative reading.

Alicia Lanier is a REALTOR and member of the Coldwell Banker Diamond Society – Top 8% of Agents Internationally  www.AliciaLanier.com  408-491-1634

California Health Care Reform Is Dead – or Is It?

By Alicia Lanier, REALTOR

By now you’re probably aware that in late-January, the Governor’s compromise health care reform bill, Assembly Bill x1.1, was voted down by the Health Committee of the California State Senate. The rejection was just days after a long 10-hour day of public testimony by both proponents and opponents. During the hearing, a legislative analysis of the bill revealed there were damaging fiscal problems with the bill.

The Health Committee chaired by Senator Sheila Kuehl – who introduced SB 840 with a single-payer health care plan endorsed by many progressive groups – almost unanimously voted against AB x1.1 which was strongly supported by Assembly Speaker Fabian Nunez and Gov. Arnold Schwarzenegger. Our own Silicon Valley State Senator Elaine Alquist, a member of the committee, voted to oppose.

Speaker Nunez and Governor Schwarzenegger earlier had filed a ballot initiative to finance the compromise health care plan by almost doubling the state tax on cigarettes to $1.75/pack. However, it became apparent this would not be enough financing and, with California facing a fiscal crisis, this was the kiss of death.

Yet some observers of the California political scene wonder if health care reform is truly and finally buried, especially considering the statement released by Senator Kuehl on January 28, 2008:

“As Chair of the (California) Senate Health Committee, I promise that we will continue to move on the issue of healthcare reform. All over the state, people are letting us know that they are fed up with seeing their health insurance premiums rise, their coverage drop and their out of pocket expenses increasing every year.  Just today, we heard from over 400 medical students in the Capitol to lobby for SB 840 that they simply want to be paid a fair reimbursement for the work they will do and who also don’t want to be put in the position of trying to extract every last dime from patients who already pay for insurance.

“We in the State Senate will continue to work with the Assembly, the Governor’s office and with all stakeholders to put forward a healthcare reform plan that will go beyond fixing symptom after symptom and give the real cure: universal, affordable, choose-your own doctor, comprehensive coverage.”

Will SB 840, the single-payer bill, be resurrected this year? You will remember that it was passed by California lawmakers in 2006, only to be vetoed by the Governor. Now that the Governor’s plan has been vanquished, and its successor “compromise bill” roundly defeated, one wonders whether Senator Kuehl and single-payer supporters can breathe new life into SB 840. 

In fact, a message now being circulated from Senator Kuehl’s office asserts:

“SB 840 is alive and well in the Assembly Appropriations committee, much further along in the legislative process than it was in 2006 … Legislative deadlines for passage out of fiscal committees aren’t until August 15th and, between now and then, grassroots organizing and education efforts are really taking off.  Every day, Senator Kuehl and her staff receive requests for presentations regarding SB 840, the truly universal healthcare bill.”

Meanwhile, on the national scene, health care reform has been a key issue addressed by both Senator Hillary Clinton and Senator Barack Obama, the last two candidates standing in the Democratic Party’s presidential primary. And even Senator John McCain has his own Republicanesque version of a health care plan. Neither Senator Clinton or Senator Obama are openly supporting a single-payer system, possibly in an effort to sidestep any potential for Republicans to accuse one or the other of supporting “socialized medicine” in the general election. Although … let me see … doesn’t Medicare look and feel like “socialized medicine”?

In fact, a recent editorial in the Las Vegas Review-Journal, proclaimed both candidates “agree that the government should essentially expand Medicare to give every American a choice of enrolling in the federal program.” In my opinion, there is a rare opportunity this election year for the single-payer advocates nationwide to band together and press their case with both candidates. Or, at least, the winning Democratic Party candidate. If recent polls are to be believed, voters might just be ahead of all the politicians on this issue.

Related Blogposts:
January 15, 2008: California Health Care Reform Battle Heats Up As Governor, Speaker File Ballot Initiative For Fall
October 30, 2007: “Trick” or “Treat” for Health Care Reform? 

Alicia Lanier is a REALTOR and member of the Coldwell Banker Diamond Society – Top 8% of Agents Internationally  www.AliciaLanier.com  408-491-1634

Silicon Valley Home Auction Next Weekend

By Alicia Lanier, REALTOR

Have you been wanting to see for yourself whether there are “deals” to be had at a home auction of distressed properties? Here’s your chance on Saturday-Sunday (Feb. 23-24) in San Mateo when www.ushomeauction.com brings its gavel and auction block to the San Mateo Event Center (Cypress and Oak Halls) at 2495 South Delaware Street. Registration begins at 8 a.m. and the bidding begins at 9:30 a.m. Admission is free. However, if you plan to purchase a property at the auction, you’ll need to have …

  • A $5,000 cashier’s check (or cash equivalent) made payable to yourself.
  • The available funds to write a personal check for the balance of the required 5% auction day deposit.
  • Valid I.D. for all parties to the transaction.

I recommend that if you’re seriously planning to purchase that you take your real estate agent with you … it never hurts to have the reality check of a professional advocate who knows the market and transaction process.

Alicia Lanier is a REALTOR and member of the Coldwell Banker Diamond Society – Top 8% of Agents Internationally  www.AliciaLanier.com  408-491-1634

Tour of California Cycles Through Silicon Valley

By Alicia Lanier, REALTOR

Next to politics, cycling – despite recent  controversy - ranks as one of my favorite spectator sports. And cycling fans throughout the Silicon Valley will get an up-close chance to cheer on seven world champions among the field during the 8-day Tour of California which begins today with a 2.1-mile “prologue” in Palo Alto (through Downtown and the Stanford Campus).

On Wednesday, San Jose fans will get a thrill when the third stage from Modesto finishes in Downtown San Jose near City Hall.  Cyclists are expected to start crossing the finish line around 2 p.m.  The race concludes in Pasadena on February 24.

Located near the finish line will be the Health Net Lifestyle Festival (noon to 4 p.m.) featuring a health & fitness expo, cancer awareness education, cycling gear, family activities, bike safety, food, and entertainment. The five-piece, California-based Damon Castillo Band will perform on the main stage in San Jose and other stops on the Tour of California.

Here are the Amgen Tour of California stages following the 2.1 mile “prologue” in Palo Alto:

Monday: Sausalito to Santa Rosa, 96.8 miles
Tuesday: Santa Rosa to Sacramento, 115.8 miles
Wednesday: Modesto to San Jose, 102.7 miles
Thursday: Seaside to San Luis Obispo, 135.3 miles
Feb. 22: Solvang, 14.5-mile time trial
Feb. 23: Santa Barbara to Santa Clarita, 105.4 miles
Feb. 24: Santa Clarita to Pasadena, 93.4 miles

Alicia Lanier is a REALTOR and member of the Coldwell Banker Diamond Society – Top 8% of Agents Internationally  www.AliciaLanier.com  408-491-1634

Three California Cities Among America’s “Free-Falling Housing Markets” Last Year, Says Forbes

By Alicia Lanier, REALTOR

According to Forbes. com, three California cities ranked among America’s Top 10 Free-Falling Housing Markets last year. No surprise that our Capital City of Sacramento was #1 in the nation for declining home prices, followed by San Diego at #3 and Los Angeles at #5. I’ve been privately saying for months that there are some good values to be had in Sacramento, where overbuilding and high foreclosures made that city’s housing market vulnerable.

How bad was it? Home median sale prices dropped overall almost 19% in Sacramento, 17% in San Diego, and almost 11% in Los Angeles.

By contrast, here in the Silicon Valley, 12 of our 17 cities recorded either higher single-family home median sales prices or increased sales volume last year - and seven cities showed both higher prices and sales volume over 2006.

The trend toward higher median sales prices has continued this year with nine cities – Campbell, Cupertino, Los Altos, Los Altos Hills, Los Gatos, Los Gatos Mountains, Monte Sereno, Mountain View, Palo Alto and Sunnyvale – all recording slightly higher median prices in January than the same month in 2007. However, sales for all of Santa Clara County were sharply down in January with no city showing higher sales for the first month of 2008 than for January, 2007. E-mail or call me if you want the details for your city or neighborhood.

Related Blog Post:
January 10, 2008: 2007 Silicon Valley Home Sale Stats: Higher Inventory, Days on Market, and Prices, Too!

Alicia Lanier is a REALTOR and member of the Coldwell Banker Diamond Society – Top 8% of Agents Internationally  www.AliciaLanier.com  408-491-1634

Better than “Rebates” for Silicon Valley Home Buyers: New Law Raises Conforming Loan Cap

By Alicia Lanier, REALTOR

Most of the mainstream news media led with the news about taxpayer rebate checks today, while home buyers and real estate professionals in the Silicon Valley cheered that the “economic stimulus bill” signed today by President Bush raised – finally – the caps for non-conforming home loans from $419,000 to $729,750.

It took a depressed housing market to raise temporarily (through the end of 2008) to $729,750 the limit on Federal Housing Administration loans and also raise the cap on loans that mortgage giants Fannie Mae and Freddie Mac can buy.

The Associated Press reported that “Raising those limits should provide relief in the market for “jumbo” mortgages — those exceeding $417,000. The credit crunch hit that market hard, making it very difficult, if not impossible, for people to get those loans, plunging the housing market into turmoil.

“House Speaker Nancy Pelosi of California said the provisions will provide ‘families a second chance at the American dream of homeownership by helping them refinance their mortgages and avoid foreclosure.’”

Related Links & Blog Posts:
February 14, 2008, Message to Clients: Breaking News: Conforming Loan Cap Raised to $729,750
February 8, 2008, Note to Silicon Valley Home Buyers: Conforming Loan Limits Bill Ready for President’s Signature
January 26, 2008, Silicon Valley Home Buyers Give Three Cheers for House Plan to Raise Cap on Conforming Loans
November 29, 2007, Affordability Issues for Silicon Valley Home Buyers Deepen with Feds’ Jumbo Loan Decision for ‘08

Alicia Lanier is a REALTOR and member of the Coldwell Banker Diamond Society – Top 8% of Agents Internationally  www.AliciaLanier.com  408-491-1634

Note to Silicon Valley Home Buyers: Conforming Loan Limits Bill Ready for President’s Signature

By Alicia Lanier, REALTOR

Yesterday Congress sent its economic stimulus bill to the President’s desk and he is expected to sign it. This important legislation includes the much-discussed taxpayer rebates, and increasing conforming loan limits from $419,000 to $729,750, a happy sign for California home buyers who pay higher interest rates on their non-conforming, or so-called “jumbo” home loans.  I would also venture to say this is happy news for all the sellers who have been wondering where buyers have been hiding in recent months.

Here’s a message from the California Association of Realtors (CAR) that was received yesterday with their view on this package:

“Thanks in part to lobbying by CAR (California Association of Realtors) and NAR (National Association of Realtors) members, the Senate passed their version of an economic stimulus package today, Thursday, February 07, 2008.  The Senate version expands rebate checks for seniors and disabled veterans and includes the same increases to the conforming loan limits for both GSE and FHA found in the House stimulus package.  The House just passed the Senate version of the bill  and it will now be sent to the White House. The President is expected to sign the legislation by the end of next week, ahead of the Congressional self-appointed deadline of February 15th.   The increase in the conforming loan limits will last through 2008, but C.A.R. and NAR continue to lobby for FHA and GSE reform,  making these increases permanent.

“The U.S. House of Representatives passed a stimulus package last week that raised the FHA and conforming loan limits to as high as $729,750 in high-cost areas.  By increasing the loan limits, borrowers will see immediate relief with new liquidity in the mortgage market and the nation will see an additional 300,000 home sales.  Research shows that an increase in the FHA limit would enable an additional 138,000 Americans to purchase homes, and 200,000 families to refinance their homes safely and affordably.

“Increasing the FHA loan limits is critical to bolstering California’s housing market.  Current law restricts FHA loans to levels well below the median home price in many areas of the country and caps loans in high cost states at $363,790. These limits are preventing many homebuyers from using FHA to purchase or refinance their loan.  The proposed provision will increase FHA loan limits nationwide by raising the floor to $271,050 and the limit to 125% of local median home prices. 

“Additionally, raising Fannie Mae and Freddie Mac’s (GSEs) conforming loan limit will provide immediate relief to borrowers and alleviate downward pressure on current housing markets.  For instance, increasing the GSE loan limit could result in more than 300,000 additional home sales and strengthen current home prices by 2-3%.

“The critical role that GSEs play in providing liquidity to the mortgage market has never been more evident than it is today.  The national subprime meltdown has had a dramatic impact on both the cost and availability of mortgages in many markets.  Since August 2007, the interest rates for jumbo borrowers have been more than 1 percentage point higher than conforming loans, which can cost homeowners up to $400 month in higher interest payments.”

Related Posts:
January 26, 2008, Silicon Valley Home Buyers Give Three Cheers for House Plan to Raise Cap on Conforming Loans
November 29, 2007, Affordability Issues for Silicon Valley Home Buyers Deepen with Feds’ Jumbo Loan Decision for ‘08

Alicia Lanier is a REALTOR and member of the Coldwell Banker Diamond Society – Top 8% of Agents Internationally  www.AliciaLanier.com  408-491-1634

Free Health Screenings at Feb. 9 Women’s Health Forum in Santa Clara Sponsored by Senator Alquist

By Alicia Lanier, REALTOR

Senator Elaine Alquist, California Senate District 13, is holding a free Women’s Health Forum, Thriving with Change, in Santa Clara from 9 a.m. to 1:30 on Saturday, February 9, 2008. This is a great opportunity for women to obtain several free health screenings, including bone density, blood pressure, cholesterol, glucose, body mass index (BMI), and breast cancer prevention screening. 

You’ll also learn about health care programs and services provided by the state as well as health care issues being considered by the California Legislature. Keynote speaker will be former State Senator Jackie Speier. The event will be at the Santa Clara Senior Center, 1303 Fremont Street, in Santa Clara. For more information and to sign up (space is limited), call Senator Alquist’s office at 408-286-8318.

Alicia Lanier is a REALTOR and member of the Coldwell Banker Diamond Society – Top 8% of Agents Internationally  www.AliciaLanier.com  408-491-1634

Super Tuesday in Silicon Valley

By Alicia Lanier, REALTOR

One of my favorite volunteer activities is registering voters at Valley Fair Mall and the New Citizen Naturalization Ceremony each month. At these events, there has been a growing excitement among new voters and others who stopped by to chat about this year’s presidential election. In fact, you might say there’s a super level of excitement about California’s  participation in Super Tuesday, an election day on Tuesday, February 5, 2008, with about two dozen states’ presidential primaries.

And, with celebs like Oprah, Maria Shriver and others in the Kennedy clan showing up across the state to support Senator Barack Obama, it’s probably no surprise that a new Field Poll, as reported in the San Jose Mercury News, shows Democratic Senator Obama gaining on Senator Hiliary Clinton. Senator Obama’s wife Michelle represented him at a San Jose State rally on Sunday, and he and Republican Senator John McCain are both sprinting like winners in the home stretch in their respective primaries. 

Be sure that you vote on Tueday! You can find a wealth of non-partisan information about all the contests in Santa Clara County – including the presidential primaries – on the League of Women Voters website, www.SmartVoter.org so do check it out.

Alicia Lanier is a REALTOR and member of the Coldwell Banker Diamond Society – Top 8% of Agents Internationally  www.AliciaLanier.com  408-491-1634