Lisa Perotti On Real Estatehttp://www.TeamPerotti.com/blogMill Valley CA real estate market news provided by Frank Howard Allen RealtorsMon, 13 Feb 2012 00:00:00 GMTNew Listing! Corte Madera Villa with Boutique Producing Vineyard We've listed this one-of-a-kind property for discerning buyers who love the romance of producing their own pinot noir wine from their own boutique vineyard. The vineyard has 99 producing vines and has been a great source of enjoyment and gatherings of friends over the years. The home itself is beautiful has been meticulously maintained with superb quality and elegance. Click Here to find out more!

 

]]>http://www.teamperotti.com/Blog/New-Listing-Corte-Madera-Villa-with-Boutique-Producing-Vineyardhttp://www.teamperotti.com/Blog/New-Listing-Corte-Madera-Villa-with-Boutique-Producing-VineyardMon, 13 Feb 2012 00:00:00 GMTTom McGowan Joins Team Perotti We're proud and excited to have a new member in Team Perotti...Tom McGowan! Tom joins the Team from ZipRealty, where he worked primarily in the Peninsula market. He will be working both San Francisco and the Peninsula for Team Perotti. Welcome aboard, Tom!

]]>http://www.teamperotti.com/Blog/Tom-McGowan-Joins-Team-Perottihttp://www.teamperotti.com/Blog/Tom-McGowan-Joins-Team-PerottiThu, 15 Dec 2011 00:00:00 GMTNew Listing in Corte Madera - 46 Mohawk Ave., $655,000 Team member Lesley McTaggart just listed 46 Mohawk Ave., Corte Madera, CA for $655,000! It's a great value in a SUPER location. It is a bit of a fixer, but at that price...Wow! This home is a short sale, so not for the buyer in a hurry. Won't last long, so reach out to us for further info!

 

]]>http://www.teamperotti.com/Blog/New-Listing-in-Corte-Madera-46-Mohawk-Ave-655000http://www.teamperotti.com/Blog/New-Listing-in-Corte-Madera-46-Mohawk-Ave-655000Wed, 14 Dec 2011 00:00:00 GMTRecourse Loans vs. Non-Recourse Loans - What does it all mean?We often hear the terms "Recourse Loan" or "Non-Recourse Loan" when talking about home mortgages. So what does it all mean? And should you care? Well, it can mean ending up owing a lot of money, even after you lose your house in foreclosure. And yes, you should care.

A recourse loan means that, in the event of a default by the borrower and the lender has to foreclose on the property, settling for less than the original loan amount, the lender could still pursue the borrower later for a deficiency judgment. This is bad.

On the flip side, a non-recourse loan means that, in the event of a default and subsequent short sale or foreclosure, the borrower could NOT be pursued by the lender for any deficiency. Obviously, this is a huge issue.

In California, loans put on the property at the time of acquiring the home (acquisition debt) is non-recourse for a 1-4 unit property. Further, with recent changes in CA law, all loans on a 1-4 unit property are non-recourse, whether acquisition loans or not. There is an exception if the buyer/borrower commited fraud, but such cases are not the norm.

In some states, all financing of real estate is recourse financing. For example, in Illinois, regardless of the type of loan (acquisition or refinance), the borrower can be held liable for any deficiency after a loss is suffered by a lender in a short sale or foreclosure. Not good.

SO, for all the math majors out there...Recourse = Bad; Non-Recourse=Good.

]]>http://www.teamperotti.com/Blog/Recourse-Loans-vs-Non-Recourse-Loans-What-does-it-all-meanhttp://www.teamperotti.com/Blog/Recourse-Loans-vs-Non-Recourse-Loans-What-does-it-all-meanFri, 26 Aug 2011 08:27:00 GMTImmediate relief for Short Sale SellersLast month Gov. Jerry Brown signed into law SB 458, which provides for immediate relief for short sale sellers from trailing liability to junior lien holders when completing a short sale in California. In order to receive protection under this law, the following conditions must be met:


• The property must be a 1 to 4 unit property;

• the junior lien holder must approve of the short sale;

• the borrower must not have committed fraud in their original loan application process;

• the property must not be owned by a corporation, limited liability company, limited partnership, or political subdivision of the state.

This is great news to those thousands of property owners who have been paralyzed from moving forward with a short sale for fear of being subsequently sued for some unresolved loan balance by their HELOC or other junior lien holder. It's also important to note that this protection does not apply in the case of a foreclosure that goes all the way to trustee sale and is subsequently sold on the auction block. This provides some great incentive to borrowers to complete a short sale in lieu of just walking away from the property.

]]>http://www.teamperotti.com/Blog/Immediate-relief-for-Short-Sale-Sellershttp://www.teamperotti.com/Blog/Immediate-relief-for-Short-Sale-SellersWed, 24 Aug 2011 11:34:00 GMTWhat is acceptable “hardship” for lenders?When seeking a loan modification or short sale from a lender, the borrower must demonstrate "hardship." There are 15 different types of hardship, which are:

• Loss of employment

• Income reduction

• Business failure

• Damage to property

• Death of spouse or wage earner

• Severe illness

• Inheritance

• Divorce

• Relocation

• Military service

• Payment increase or mortgage adjustment

• Insurance or tax increase

• Separation

• Too much debt

• Incarceration

The borrower seeking a short sale or loan modification must write a "hardship" letter to the lender, citing one or more of the above hardship causes. It's been my experience, that the typical borrower has at least 2 to 3 of these hardship causes. And, while we hear about “strategic short sales”, often the borrower has at least one of these hardship causes that can apply to their situation. Visit http://www.bayareadistressedproperty.com/ for more information.

]]>http://www.teamperotti.com/Blog/What-is-acceptable-hardship-for-lendershttp://www.teamperotti.com/Blog/What-is-acceptable-hardship-for-lendersMon, 22 Aug 2011 13:05:00 GMTIs now a good time to buy investment real estate?With decreasing levels of homeownership and increasing levels of renters across the United States, now may be the perfect time to buy that rental property, whether you're considering a single-family dwelling or an apartment building. In addition, financing has become more accessible for such investments in the last few months. More and more, we are seeing all cash investors diving into the marketplace... So, yes, now is a great time to buy investment real estate.

 

 

]]>http://www.teamperotti.com/Blog/Is-now-a-good-time-to-buy-investment-real-estatehttp://www.teamperotti.com/Blog/Is-now-a-good-time-to-buy-investment-real-estateTue, 26 Jul 2011 00:00:00 GMTLuxury property marketplace in Marin levels offIn an interview on The Property Beat, Frank Howard Allen Realtors luxury property specialist and office branch manager Andy Gellepis stated that the Southern Marin luxury real estate market was essentially maintaining the same levels of activity as 2009. He further mentioned that all cash buyers account for 25 to 30%. Hear the entire interview here:

http://www.blogtalkradio.com/thepropertybeat/2011/07/06/working-high-end-real-estate--meet-andy-gellepis-1

]]>http://www.teamperotti.com/Blog/Luxury-property-marketplace-in-Marin-levels-offhttp://www.teamperotti.com/Blog/Luxury-property-marketplace-in-Marin-levels-offMon, 25 Jul 2011 09:49:00 GMTFannie Mae offers short sale help deskIn an effort to improve the short sale closure rate and prevent unnecessary foreclosures by lenders, Fannie Mae has created a new "helpdesk" program for borrowers who have met unusual resistance from their lenders in getting short sales done on Fannie Mae backed/owned loans.

The program will be implemented in partnership with the local multiple listing service or Association of realtors, requiring such MLS/AO are to participate by providing access to their data for Fannie Mae. The helpdesk will only be available for borrowers in areas where the MLS/AO Art's consent to sharing this information has been given... Which begs the question, "why? Doesn't every borrower deserved assistance, regardless of what the MLS/ALR does?"

In a recent interview, Marcel Brier, vice president of Fannie Mae, reminds people that the helpdesk should be treated as a last resort, I. E., When all else fails with a lender. So, does the borrower has to wait until their short sale has been declined? Great.

]]>http://www.teamperotti.com/Blog/Fannie-Mae-offers-short-sale-help-deskhttp://www.teamperotti.com/Blog/Fannie-Mae-offers-short-sale-help-deskFri, 22 Jul 2011 10:41:00 GMTSan Rafael Home...Price Reduced!We just reduced the price of this beautiful 4 bedroom San Rafael home to $709,000. Nestled in the charming Gerstle Park neighborhood, this home features a spacious layout great for entertaining, a large kitchen with stainless steel appliances, ample deck space, and hillside views. If you live in San Francisco and are thinking of moving to Marin, this could be the perfect home for you.

CLICK HERE for more information.

 

]]>http://www.teamperotti.com/Blog/San-Rafael-HomePrice-Reducedhttp://www.teamperotti.com/Blog/San-Rafael-HomePrice-ReducedThu, 23 Jun 2011 00:00:00 GMTLesley Smith-McTaggart Joins Team Perotti Lesley Smith-McTaggart has joined Team Perotti as one of our Team Realtors! Lesley has been working as an individual agent at Frank Howard Allen's Mill Valley office for the last couple of years. Prior to that, she worked with Cliff & Lisa at The Perotti Group. We're excited to once again be working with Lesley as part of the team! Welcome aboard!

]]>http://www.teamperotti.com/Blog/Lesley-Smith-McTaggart-Joins-Team-Perottihttp://www.teamperotti.com/Blog/Lesley-Smith-McTaggart-Joins-Team-PerottiFri, 27 May 2011 14:49:00 GMTOrganic Sale? New Real Estate Term!With the high percentage of short sales and foreclosure sales in the market, real estate agents needed a way to differentiate a "normal" sale (i.e., NOT a foreclosure, REO or short sale). Well, in the true flavor of eco-awareness, agents have begun labelling these normal sales as "Organic Sales." SO, along with your Farmer's Market veggies, you can now buy your Organic Sale Home!

]]>http://www.teamperotti.com/Blog/Organic-Sale-New-Real-Estate-Termhttp://www.teamperotti.com/Blog/Organic-Sale-New-Real-Estate-TermWed, 20 Apr 2011 10:32:00 GMTLarge Fixer Short Sale in Mill Valley! Not Yet on MLS!40 Palm Way, Mill Valley

We just listed a large 4-bedroom fixer-upper that offers an exceptional opportunity for the right buyer! The property features a spacious kitchen in original condition, a large living room/dining room "great hall", a double-sided fireplace between the kitchen and livingroom, and views that are spectacular! 

Learn More Here.

]]>http://www.teamperotti.com/Blog/Large-Fixer-Short-Sale-in-Mill-Valley-Not-Yet-on-MLShttp://www.teamperotti.com/Blog/Large-Fixer-Short-Sale-in-Mill-Valley-Not-Yet-on-MLSTue, 19 Apr 2011 00:00:00 GMTZillow’s ZEstimates Offer ChallengesAs you may, or may not know, Zillow.com offers buyers and sellers an estimated value on a particular property, called “ZEstimates.” This sounds like a great feature, but these ZEstimates have proven problematic on numerous occasions and may, in fact, be misleading to consumers.  While Zillow’s site explains that these estimates may be off by as much as 12+-%, recent experience has shown that they are off by as much as 20+% in some cases.

As one first-time buying couple discovered, the Zillow’s ZEstimated value range on a potential new home was $1,100,000 to $1,200,000. SO, while the listed price on the home was over $1.4 million, these buyers cited the Zillow ZEstimate as the reason for their low-ball offer of $1.2 million. Needless to say, the property was sold to another buyer, and at a price well over the Zillow estimate. How can this happen, you ask?

Here’s the problem…Zillow uses county tax records for their estimates of value. However, real estate agents have known for years that county tax records are notoriously incorrect and outdated. County records may show a property as a 3 bedroom, when in fact it’s a 4 bedroom house; the county may show the square footage as 1200 square feet, when in fact the actual property is 1400 square feet; And finally, the county tax records often don’t explain the improvements made to the property,…even if permits WERE taken out for the work.

Zillow offers the opportunity for the property owner to update their improvements with estimated costs, but that only adds to the confusion. For example, if a homeowner spends $50,000 adding on a bedroom to the house, which subsequently increases the home’s value by $100,000, Zillow will only show the cost increase in the value, depriving the property of the actual value increase.

While, in concept, Zillow’s ZEstimates are a great idea, I wouldn’t rely on them to write an offer or price a house. Talk to your agent to get a better sense of the market value.

]]>http://www.teamperotti.com/Blog/Zillows-ZEstimates-Offer-Challengeshttp://www.teamperotti.com/Blog/Zillows-ZEstimates-Offer-ChallengesTue, 12 Apr 2011 00:00:00 GMTNot Yet on MLS - Madrone Ave., LarkspurShort Sale Opportunity! This 2+ bedroom house has so much to offer! Enjoy the large SUNNY deck with views of Mt. Tam. The large eat-in kitchen is great for entertaining. The cathedral ceilings in most of the home, give an open feeling to the home. Skylights help bring in additional sunlight. Additional/bonus room shows as third bedroom on tax rolls, or use it as an office/den. Detached 2 car garage and loads of extra storage space. Walk to downtown Larkspur!

More Info

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]]>http://www.teamperotti.com/Blog/Not-Yet-on-MLS-Madrone-Ave-Larkspurhttp://www.teamperotti.com/Blog/Not-Yet-on-MLS-Madrone-Ave-LarkspurFri, 08 Apr 2011 00:00:00 GMTCorte Madera-Larkspur Little League ParadeWell, this year's Twin Cities Little League Parade went off without a hitch! Hundreds of Little Leaguers piled into trucks and on flatbeds and participated in the parade that marks opening day of Little League Season in the Twin Cities. Despite the early morning start, the streets along the parade route were lined with proud parents and locals who look forward to this parade every year. And now..."Play ball!"

 

]]>http://www.teamperotti.com/Blog/Corte-Madera-Larkspur-Little-League-Paradehttp://www.teamperotti.com/Blog/Corte-Madera-Larkspur-Little-League-ParadeMon, 04 Apr 2011 00:00:00 GMTTwin Cities Little League Opening DaySunshine and Little League...what can be better? For all you Little League Fans, make sure you are lining the streets for the Corte Madera-Larkspur opening day parade. It begins at 8:00 A.M. at Town Center and ends up at Joe Wagner Field on Magnolia and Alexander. Be there to cheer on our atheletes!

]]>http://www.teamperotti.com/Blog/Twin-Cities-Little-League-Opening-Dayhttp://www.teamperotti.com/Blog/Twin-Cities-Little-League-Opening-DayFri, 01 Apr 2011 11:47:00 GMTPrice Change: 412 Summit Drive, Corte Madera

412 Summit Drive, Corte Madera

We just reduced the price of this fabulous tree-top home to $799,000. Only steps away from hiking trails, you won't want to miss this home, if you love the outdoors!

 

]]>http://www.teamperotti.com/Blog/Price-Change-412-Summit-Drive-Corte-Maderahttp://www.teamperotti.com/Blog/Price-Change-412-Summit-Drive-Corte-MaderaFri, 01 Apr 2011 00:00:00 GMT146 Marina Vista, LarkspurI'm featuring the listing at 146 Marina Vista, Larkspur. It's a contemporary hillside home that brings the outside in with skylights and large windows. Nestled in the trees, backs to Baltimore Canyon open space, with water and great hillside views.

Property listed with Arne Glasgow of Frank Howard Allen Realtors.

]]>http://www.teamperotti.com/Blog/146-Marina-Vista-Larkspurhttp://www.teamperotti.com/Blog/146-Marina-Vista-LarkspurThu, 17 Mar 2011 00:00:00 GMT412 Summit Drive, Corte MaderaMy Newest Listing!

Enjoy breathtaking views from this lovely 3 bdr. home overlooking Corte Madera and the Bay.Only steps away from the Summit trails, you'll enjoy great hiking, biking or dog walking. This home features a master suite with a remodeled bathroom and private balcony that overlooks redwoods and bay views. The main living area features a large updated kitchen, spacious living room, and the enjoyment of outdoor living on the large deck. Very Private!

View the Full Listing Information

View the View Video

]]>http://www.teamperotti.com/Blog/412-Summit-Drive-Corte-Maderahttp://www.teamperotti.com/Blog/412-Summit-Drive-Corte-MaderaSat, 05 Mar 2011 00:00:00 GMT