What’s Up At Coldwell Banker?

By Alicia Lanier, REALTOR

In the spirit of keeping you informed about the Coldwell Banker “advantage” for home sellers and buyers …

As you may know, the real estate company of Coldwell Banker  celebrated its 100th birthday a couple of years ago. This is a unique achievement for any commercial endeavor but particularly in the real estate industry which is awash with solo brokers and mom-and-pop operations. And, here in the Silicon Valley year after year, Coldwell Banker sells more homes than any residential real estate company. 

What gives Coldwell Banker its edge? Why do clients gravitate to the firm? From my vantage, it’s because savvy REALTORs are attracted to hanging their license with a company known for its high level of professionalism and leading-edge techology tools – and good REALTORs attract clients who are loyal and like to tell their friends. 

For a broader perspective, Inman TV has a new interview with Coldwell Banker COO Charlie Young that is worth watching: What’s Up At Coldwell Banker?  Do let me know what you think about the interview and I’ll pass it along.

Alicia Lanier is a REALTOR and a member of the Coldwell Banker Sterling Society (2007) and Diamond Society (2006, 2004)  www.AliciaLanier.com  408-491-1634

Convention Diary: California Democrats Convening in the Silicon Valley Friday Through Sunday

By Alicia Lanier, REALTOR

Despite the attention focused on this year’s Democratic National Convention in Denver, the Silicon Valley this weekend promises to attract a turnout of Dem bigwigs that may be almost as glamorous as the extravaganza planned for Denver. 

As mentioned in an earlier post, I am a delegate from the 24th Assembly District to this California Democratic Party convention which will begin Friday and run through Sunday at the San Jose Convention Center.  Last Spring, I was a delegate to the 2007 state convention held in San Diego – and it was a veritiable Blue Book of Party A Listers. For starters, U.S. House of Representatives Speaker Nancy Pelosi was a keynote speaker at the annual convention dinner and she’s the honored guest at this year’s Welcome Reception. Mayor Gavin Newsom from the City by the Bay was a crowd fave, and eight of the nine of the Presidential candidates made an appearance and spoke to the delegates. And there are too many others to mention!

At one point, I was close enough to give John Edwards a good-luck-pat-on-the-back. And later I admired from up close Hillary Clinton’s classy Japanese-inspired tangerine silk pants suit and assertive speaking style.  And cheered on Barack Obama as he entered the convention hall in rock star style, with groupies crowding him as rock music blared through the hall. As each of these three spoke, I waved a poster that supported him or her. This was confusing to some of my fellow delegates and one asked, “Just who are you supporting?” “All three of them … I can’t make up my mind … they’re all great!” I replied.  And, truth be told, I still feel that way even after casting my vote for one of them in our Super Tuesday primary. But, for the record, I’m quite ready for the last two standing candidates to “make nice and make up” and, if I had my favorite wish, they would work together be on a much-mentioned Dream Ticket.

So, this should be an equally exciting convention. We delegates had an email a couple of days ago from Art Torres, CDP chair, saying that Former President Bill Clinton will be speaking at the Sunday morning general session. Hmmmmm … wonder what he’s going to say?  That same e-mail mentioned that author-activist Christine Pelosi (she is Nancy’s daughter) will present her acclaimed Campaign Boot Camp on Friday. And today we had another message saying 20-time Emmy winner Phil Donahue will be keynote speaker for the Saturday evening dinner. He will be discussing and sharing clips from his new documentary Body of War. Body of War has been several years in the making and was personally funded by Mr. Donahue. The documentary is set for limited release and has already been met with international critical acclaim.

Because this convention will attract a large gathering of “super delegates” – California has 65 of them – one can expect some intense lobbying going on by Presidential campaign supporters of both Senator Hillary Clinton (who cared enough to send her very best Top Surrogate) and Senator Barack Obama (who will be represented by San Francisco District Attorney Kamala Harris and former state Controller Steve Westly.)

One can expect that the scene outside the convention to be as colorful as inside. Protestors of many ilks will most likely be evident. Last year, the largest protest group was in evidence all day every day, waving banners and signs urging the impeachment of our current President.  

I invite you to see my photo diary of the 2007 CDP Convention in San Diego and I’ll be sharing my impressions of the upcoming convention in San Jose this weekend.

Alicia Lanier is a REALTOR and a member of the Coldwell Banker Sterling Society (2007) and Diamond Society (2006, 2004)  www.AliciaLanier.com  408-491-1634

Bunnies and Bonnets in Campbell, Oh My!

By Alicia Lanier, REALTOR

On Easter Weekend, my granddaughter Sage and I have a standing date for the colorful Bunnies and Bonnets Parade in Historic Downtown Campbell. She’s seven and a half now, and, since she was born in 2000, we’ve enjoyed every Parade except one from our sidewalk perch. 

Her mom and dad joined us for our first Parade, and Her Mom and I followed Baby Girl’s blonde head bobbing above the crowds in a “backpack” worn by Her Dad. Since then, it’s been just the two of us, first with me pushing Sage’s stroller past paradegoers to a spot where she could see everything, and later with her happily gliding along on her pink scooter. Now both of us put our walking shoes on for the event and take turns shooting photos.

One year, when she was four, I had the misguided idea to take her to the Easter Egg Hunt held just before the Parade. Sadly, Sage was left holding an empty basket (and trying unsuccessfully to hold back tears) because she was such a wee one among the bigger kids. I partially made up for my error when we later had our own egg hunt at home. The humiliation of the No Egg Hunt was offset at the Parade because Sage’s basket soon held many of the candy treats thrown to her by Marchers tossing candy to Parade watchers along the route.  

Now in its 11th year, this year’s Parade on Saturday, March 22, may be our last together – at least for the near future - because Sage and her family plan to move to Austin, Texas, this summer. Needless to say, I’ll miss all our adventures together. Meanwhile, she and I are looking forward to Saturday’s parade.

If you’re not familiar with the event, Campbell’s Bunnies and Bonnets Parade in past has featured marching bands, baton twirlers, tap dancers, classic cars, bagpipers, floats, dog clubs, and other groups representative of the community. Numerous city officials and other leaders ride the Parade route in convertibles and many of the women riders show off their elegant vintage bonnets. And, of course, the Easter Bunny makes an appearance, too! It starts at noon and runs, from east to west, down Campbell’s main thoroughfare.

Maybe we’ll see you there.

Alicia Lanier is a REALTOR and a member of the Coldwell Banker Sterling Society (2007) and Diamond Society (2006, 2004)  www.AliciaLanier.com  408-491-1634

Clinton-Obama? Or, Obama-Clinton?

By Alicia Lanier, REALTOR

Right there in our office parking lot yesterday, I spotted for the first time a red-white&blue bumper sticker touting the “Dream Team” ticket that a lot of hopeful Democrats have been discussing of late. Check it out:

 

As a 24th Assembly District delegate to the California Democratic Party convention in late March, I seem to find myself having frequent conversations with supporters of each of these fine two candidates. And you would not believe how many times someone expresses how difficult it has been to choose between the two of them – and “wouldn’t it be great if they could both be elected?”

Although the bumper sticker I saw had Senator Hillary Clinton as the Presidential choice for 2008, for  Senator Barack Obama’s fans, I want to point out that there also is a bumper sticker available that puts Obama at the top of the ticket for 2008 … so you can support the Democratic Dream Team with your favorite choice.  

Alicia Lanier is a REALTOR and a member of the Coldwell Banker Sterling Society (2007) and Diamond Society (2006, 2004)  www.AliciaLanier.com  408-491-1634

 

Silicon Valley Home Buyers “Wait and See”

By Alicia Lanier, REALTOR

There was good news in February for Silicon Valley home buyers in the form of declining interest rates and a proposed hike in the conforming loan rate to $729,750 (see TIP below), but most home buyers largely maintained a “wait and see” attitude.

Only two cities – Santa Clara and the pricey Los Altos – experienced higher unit sales and increased dollar volume in February compared to the same month in 2007.

Los Altos’ unit sales rose to 17 last month compared to 12 in February 2007 and dollar volume increased significantly to $33,001,000 compared to $22,015,000 last year. In Santa Clara, 36 homes were sold compared to 23 in February 2007, and dollar volume rose to $25,884,074 compared to $18,351,338 in February 2007.

Los Altos’ median selling price also increased slightly last month, to $1,866,000 from $1,850,000 last year. Buyers of upscale homes helped push median selling prices upward in several other cities as well:

Campbell, with a $750,000 median selling price (compared to $730,000 in February 2007);
Cupertino, $1,190,000 ($1,180,000);
Los Altos Hills, $2,500,000 ($2,175,000);
Los Gatos, $1569,000 ($1,351,000);
Palo Alto, $1,657,000 ($1,450,000); 
Saratoga, $1,799,950 ($1,541,000)

San Jose, the Capital of the Silicon Valley, registered a steep drop in closed unit sales – only 191 units closed citywide in February 2008 compared to 363 the same month last year – and the median selling price dropped to $669,800 from $720,00 in February 2007.

Only the Willow Glen neighborhood, a perennial fave with buyers, saw an increase in median selling price in February, 2008 to $927,999 compared to $827,500 the same month last year. However, all other sales indicators dropped or remained flat in Willow Glen … here’s a snapshot of Willow Glen activity in February:

• New listings were up 31% over the same month last year; however, many are re-listed homes unsold in 2007;
• The current inventory of homes for sale in February was up 42% over same month last year (Again, re-listed homes were among this increase);
• The closed number of unit sales were down 47% in February over same month last year;
• The number of Continuous Days on Market a home remained for sale increased 79 from 63 days in February 2007; 
• The Median Selling Price in February was up about $100,000 over same month last year, strongly indicating that currently Willow Glen sales in February were mostly on the higher end;
• Sales change from January: Flat sales from the month before, not atypical for a February.

TIP: HUD has now released the new FHA loan limits for California, allowing consumers to calculate the new conforming loan limit for FHA, Freddie Mac and Freddie Mae, as part of the initial steps taken since the national economic stimulus package was signed into law last month. All told, 14 California counties saw their loan limits for FHA, Fannie Mae and Freddie Mac increased to the $729,750 cap. Most were in the San Francisco Bay Area or other parts of Northern California, including Alameda, Contra Costa, Marin, Monterey, Napa, San Francisco, San Mateo, Santa Cruz and Santa Clara Counties. The Sacramento area saw its loan limits increase to $580,000. 

Alicia Lanier is a REALTOR and a member of the Coldwell Banker Sterling Society (2007) and Diamond Society (2006, 2004)  www.AliciaLanier.com  408-491-1634

Silicon Valley Homeowner Alert: Home Equity Lines of Credit Being Frozen in Some Regions

By Alicia Lanier, REALTOR

If you are a homeowner in a Silicon Valley neighborhood where the numbers of homes for sale are climbing and values are dropping, be aware that, if the prices decline too steeply, your home equity line of credit could be at risk.

Just because the Silicon Valley has not been hit by the housing meltdown as severely as other California regions does not mean we are unaffected. There have been deep price reductions for homes and condos in some cities and neighborhoods. And,  some of the nation’s top home equity lenders – nervous that they may never collect the money that they extended to borrowers in boom times - have responded by freezing or lowering the credit limits on home equity lines of credit (HELOC). Among them are Countrywide Financial, USAA Federal Savings Bank, and Bank of America. My lender is among those … is yours?

All this at a time when interest rates have declined, making use of a HELOC or more affordable than, say, this time last year.

“Nearly all the top home equity lenders I know of are doing this or considering doing this,” said Joe Belew, president of the Consumer Bankers Association, which represents some of the nation’s largest home equity lenders. “They are all looking at how to protect themselves as real estate values go down, and it’s just not good for the borrowers to get so overextended.”

TIP: Be extremely careful out there in the world of borrowing against your possibly shrinking home equity. Understand the current values for similar homes in your neighborhood and stay within that range – even if your HELOC seemingly allows much more.

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