Finding a good lender – in this economy.

Okay, financially speaking, the world is a bit scary right now. Banks are closing and being absorbed. I am reading about people pulling money out of their banks (and putting it under their mattresses essentially). Our whole economic system is morphing into something new.

That being said, people (lots of people) are still buying houses. There are amazing bargains to be found. But, how do you find a good lender? One that is less likely to be absorbed or leave you high and dry…

Here are my top 5 suggestions for finding a good lender:

1) Ask about the lenders volume. A good lender is dealing in $100Million a month or more range.

2) Ask about the length of time the lender has been in business.

3) Who do they partner with or who owns the lending company? Do those partners appear strong, do you know the names of those companies?

4) What kind of education does the individual lender have?

5) Has the lending institution ever done sub prime lending?

And, of course, your realtor should be able to guide you to a great lender!

The real estate count is up for Willow Glen!

The count is up-that is a great thing for buyers! Willow Glen has 257 properties on market. The agreed upon healthy number is 225.  From what I am hearing from other agents and clients is that there are more houses coming on market. My hypothesis is that sellers are trying to get on market before the holiday and seasonal slowdown. I know of three listings coming to market in the next few weeks and I have heard from other top producers that they all have one or two coming as well!

While on tour this week, I saw 10 houses and my pick of the week is 911 Ellis Ave. CUTE little 2 bedroom 2 bath home with a finished bonus space off the garage perfect for an office! Beautiful remodeled open kitchen with two living spaces within the 1229 sq. ft.  (it feels like 1500 or more). Both bathrooms have been updated and all the details have been attended too. WONDERFUL treelined street and steps to downtown!

All the details are covered in this house!

All the details are covered in this house!

Beautiful built in cabinets

Beautiful built in cabinets

Open house this Sunday 1:30.

What have you seen out there in real estate world?

Morbid Thoughts on Home Buying

Someone died in that house!

Okay, it is an odd topic, I know … Fifty years ago, it was normal for people to die in their homes and the buyer that subsequently purchased that house had no concerns about it (if it was even disclosed — disclosures 50 years ago is a whole different topic!).

Today, buyers are leery of buying a home someone died in. Even if it was natural causes. Does this indicate society has superstitions, a fear of ghosts or a just a general fear of death? (You know, you are not getting out of this life alive right??).

DSC00966I recently went on a broker tour of my local area of San Jose, Willow Glen, and we toured a house that had two recent deaths in the home. The first died of natural causes and the second died from a heroine overdose. Both were non violent deaths. Even as we were about to go through the house with over 40 ‘live’ agents, I heard comments from people who did not want to go in the house. That heightened my awareness and I tried to use my best psychic abilities and see if I could feel anything.

Although I did not feel or see anything unusual it was a topic of discussion for about 15 minutes before and after seeing the house. During those discussions, I learned that the house nearby also had a recent death in it. That makes the count 3 deaths and I heard some people say, ‘well death comes in three’s so the bad luck has passed.” To be honest, I would be a bit uncomfortable purchasing a house that someone had died in, and I shyly admit to being a bit superstitious.

Would you buy a house someone had recently died in?

Do you think a death in the house should result in a lower asking price?

Why do you think disclosing a death in the home is such a hot topic?

Holly Barr - Your Favorite Realtor

WGx wants to know what percentage of WG homes could be haunted by a previous occupant’s at-home death … Someone died in that house … and we’re still overpriced?