Mike’s Real Estate Show

The Fractional Ownership market is another aspect of real estate market that is very positive and exciting and is spawning a whole new market niche for people who are interested in second and vacation homes.

I’ll be asking a pioneer in the field, Paula Gold-Nocella of Global Quarters, just how owning property via this type of ownership is done and how it can benefit you and your family and friends. We’ll be asking her questions such as:
 

* The changes in the vacation and second home market.

* What does fractional ownership mean and how does it specifically relate to real estate?

* How do they work? Read the rest of this entry »

FHA EXTENDS FINANCING FOR IMMEDIATE PURCHASE OF FORECLOSED HOMES
Measure seen to bring stability to home values and accelerate sale of vacant properties
WASHINGTON - In an effort to stabilize declining home values in certain neighborhoods, the Bush Administration today announced a temporary policy that will extend government-backed mortgage insurance and allow for the immediate sale of vacant foreclosed properties.

For one year, the Federal Housing Administration (FHA) will insure foreclosed properties marketed and sold by property disposition firms on behalf of lenders. The properties, which must purchased by owner-occupants, will no longer be subject to the customary 90-day waiting period. Read the rest of this entry »

I’m not enamored by some of the Shennigans we’re experiencing when it comes to marketing “REO” (real estate owned). I have three very wel qualified first time homebuyers (actually the kids of some of my best clients!) who are constantly getting beaten out on properties they wish to purchase. The last time we went through this type of market was back in ‘89-92 but it didn’t have the depth of THIS market but we also didn’t have the games being played either. Read the rest of this entry »

WELCOME SUMMER! — June 20, 2008
June 20 marks the summer solstice, the first day of summer and the longest day of the year.

 At the solstice, it is possible to stand an egg on its end.
True or False?  Read the rest of this entry »

Last Week in the News
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Reflecting the stimulus from government rebate checks, retail sales rose a full percentage point in May, double what economists were anticipating, the Commerce Department reported June 12. Not including the higher prices consumers paid for gasoline, retail sales still rose a strong 0.8%, the biggest increase in a year. Read the rest of this entry »

Please find below fun things to do this weekend. Courtesy of Lynette McNeany of Financial Title Company. We know you have questions relating to Title and Escrow so give Lynette a call should a question arise. She’ll be able to put you in contact with a Escrow officer or Title officer who can answer your questions! And if you sell or buy think Mike Kelly and then for all your escrow/title needs: Financial Title! (707)696-6288 or lmcneany@financialtitlec.om  

 Santa Rosa
June 15th~ Father’s Day 14th Annual ‘Show & Shine’ Car Show
9:00 a.m.-4:00 p.m., Juilliard Park
Car show, food, drinks, music, entertainment, raffles & contests.
Free admission (707) 546-5500

June 13th~ Family Fun Night
5:00 p.m., Howarth Park (630 Summerfield Road)
Free music, puppet shows, clowns, and rides. At 8:00 p.m. head to the lower lawn for an outdoor movie.  BBQ available for purchase.
Free admission, $1 K-Land Tickets, $2 Pony rides (707) 543-3282  Read the rest of this entry »

My latest numbers for Sonoma County peg our sales at last May’s numbers, 395, but with a medium of $405,000, down $120,000 from the year before! Why? That’s where the action is–the lower price points driven by the liquidation sale call foreclosures and new home builders. We had almost 200 REO sales in May and 30+ short-sales!! If we didn’t have this post foreclosure sales going on we’d have NO market!
I don’t know “which part of me” you’re referring to but you’re probably sitting on it right now!!! I know so many “buyers” who never bought when the market soared in the early 2,000’s only to gloat when it turned and who are now thinking this amazing buyer’s market is nothing but hype!! Read the rest of this entry »

Here’s a cool new feature provided to me by the nice folks at Financial Title Company and Lynette McNeany. If you have a need for a title company give her a call at: 707-696-6288 or drop by their offices at 1101 College Ave, Santa Rosa (corner of college/north). They can answer all your escrow or title questions.  

 Here are Weekender happenings for June 6,7, and 8th! Read the rest of this entry »