Just one of the fun things we do at our office...

Usually, for one Friday of the month, we hold a Brown Bag lunch with our broker, during which we discuss events and issues pertaining to real estate. It's an informal roundtable discussion.

However, the brown bag luncheon was scheduled on July 3 when only a few of us didn't take off for the long July 4th weekend.

So last Friday, my broker, Michael Studebaker, of my company, Gallagher and Lindsey in Alameda CA, did something fun: he barbecued pork --- AT THE OFFICE!

He set up a barbecue at an alleyway behind the office, brought the meat and accoutrements. By 11:30 am, as the smell of the barbecue floated, our mouths were watering, our stomachs growling.

So we hurriedly set the tables. Some of us brought the wine and beer. Others brought the artichoke dip and chips. And ALL of us brought the good cheer.

We had a blast! What a wonderful way to unwind at the office. Michael is such an accomplished cook, that he is even looking into having a full kitchen at the office.

This is not the first time we were treated to such foodie events. We've had a Chinese New Year celebration. An Italian luncheon. Several showers and retirement parties. Many "just because we want to" gaherings.

Wish I had pictures of the time we had a chili cook-off, when several of the realtors brought their slow-cookers with their versions of their favorite chili. Then we voted on the best. I don't know what was the most fun: judging the chili, or eating it!

What a fun place to to be!

Like many other cities that have hummed along, Alameda seemed to, as many residents like to say "hold its value." But Alameda is hardly untouched by calamitous economic downturn.

In 2008, the numbers were quite different than where they are today

2008 REO foreclosures: 35 homes, or 8% of 415 homes sold that year.

In 2009, and as of this writing, based on our local MLS figures, here's what's happening in our glorious island of Alameda.

SOLD (closed escrow) LISTINGS since January 1, 2009: 138 Residential homes

• 23 condos
• 12 townhouses
• 5 duets
• 98 detached single family homes
• Average days on market: 53
• Average list price: $574,774
• Average sold price: $556,203 (96.7% of average list price)
• Average sold $/sq ft: $353/sq ft
• 9 short sales
• 26 REOs or bank owned (18.8% of total sales to date --- a 10% increase over last year!). Breakdown as follows:
  
  • 5 condos (highest sold price: $315K for a condo at the Willows, a beach condo complex)
  • 1 townhouse ($408K at Islandia townhouse complex)
  • 19 houses (highest sold price: $738K for a house on the lagoon)

ACTIVE LISTINGS - 134 Residential homes

• 25 condos
• 15 townhouses
• 6 duets
• 88 detached single family homes
• Average days on market: 66
• Average list price: $655,787
• Average $/sq ft: $383/sq ft
• 9 short sales
• 10 bank owned (REO or real estate owned)
  • 4 condos (highest price $314K)
  • 6 detached homes (highest price: $646K on Park St)

PENDING LISTINGS: 90 Residential homes

• 22 condos
• 8 townhouses
• 2 duets
• 58 detached single family homes
• Average days on market: 49
• Average list price: $527,761
• Average $/sq ft: $353/sq ft
• 26 short sales
• 9 bank-owned
  • 3 condos (highest price: $250K)
  • 6 detached homes (highest price: $534K)

From these figures, it doesn't appear that foreclosures slowed down in spite of the federal moratorium on foreclosures. We went from 8.8% foreclosures as a % of total sales in 2008, to 18.8% in 2009 to date.

Recently. a new state law went into effect. Similar to the federal government program in Dec 2008-April 1 2009, this new law mandates that program lenders must prove that they tried to modify delinquent loans before starting the foreclosure process.

But there are concerns about loopholes per San Francisco Chronicle (SFGate.com).

Fasten your seatbelts. It's going to be a bumpy ride.

Typically, we copped out by referring clients to our lenders and to our escrow managers. Or we say "Let me work out some figures and I'll get back with you."

We never have the answers on the spot. Well, with Fidelity Agent, we can! Info on Fidelity Agent is not on every Fidelity Title Company site, but here's a link to Fidelity Agent comparisons to other calculation programs.

After raving about using Fidelity Agent (or Palm Agent as it is sometimes known), here's info that you may want to check out.

What is it, and how does it work?

Here's a nice video that will give you a really good idea of how it works, and how you can use it in different scenarios.

http://pc3.fntg.com/UploadedDocuments/demos/fidelityagent/index.html

How to contact Fidelity Agent

The best way for an agent to acquire Fidelity Agent is to contact their Fidelity Title Representative for installation and training of the software.

Corporate 757-271-1287
Toll free 1-866-629-5091
FidelityAgent Inc.
639 N Coalter Street
Staunton, VA 24401.

Or email support@FidelityAgent.com

iPhone/iTouch Installation Instructions

It is now readily available through Apple's App Store, see the ‘how to' for more info on that.) it has to be downloaded directly from the App Store for $6.99.

To clarify: If you have an i-Phone and you also want Fidelity Agent on your laptop or desktop you will need to pay the $6.99 through the App Store and the $27.00 for the laptop or desktop load. Keep in mind you have TWO loads coming to you for the $27.00 so you could also install it on your home office computer or secondary laptop, etc.

1. Locate the "App Store" icon on the iPhone/iTouch device, and click on it
2. Tap on the "Search" function at the bottom of the screen, and begin typing. Various programs will be displayed as you type. Remember that the name of the program is Fidelity Agent, and it will come up for different states.
3. Select the appropriate version of the software for your state
4. Verify the correct state is selected, and tap on the Application

RELATED POSTS

Fidelity Agent: A WOW tool for quick answers for real estate calculations --- for your computer and your PDA!

First Time Buyers need CMA and PITI calculations ---and good photos for a good first impression

Past contestants have sculpted replicas of the Posey Tube, a Mayan temple and even Godzilla. Still others have opted for traditional castles with towering turrets, crenelated walls and saltwater moats.

What can be entered during the 43rd annual Sand Castle and Sand Sculpture Contest today is limited just by the imagination - and judging by past years, contestants will have plenty of it on display.

The free event at Robert Crown Memorial State Beach is an Alameda tradition. But it also attracts participants from throughout the Bay Area.

The rules are simple: Only material found naturally on the beach can be used, such as shells, stones and driftwood - and sand, of course.

Contestants can use shovels, hoes and spatulas to sculpt their work. They also can use buckets, milk cartons and other items to help shape forms.

Registration will be 9 to 11 a.m., and the deadline to finish sculpting is noon, when judging will begin. Entries will be based on design, detail, neatness and technique. Awards will be presented at 1 p.m.

The three contestant categories are ages 12 and under, ages 13 and older, and family.

The Alameda Recreation and Park Department, the East Bay Regional Park District, the Bayview Women's Club and the Alameda Youth Committee are sponsoring the contest.

The beach is located at Westline and Otis drives.

Part of my outreach and Client Appreciation Program (CAP) per Working by Referral (Brian Buffini) to clients and associates is to send them an Item of Value.

This time, I digressed from the original and proposed letter, and created one that I felt was pertinent today. Here's what I am getting ready to mail. The difference is that on Active Rain, I am providing links.

CAP Item of Value

This real estate market continues to surprise us: rates are very low, and home prices are finally near "the bottom." The opportunities are still very much right there. And conditions are evolving. There are now several new programs to help both Buyers and Sellers.

Owning a home is a privilege and a dream for many of us. To achieve that dream now, we must strive not only to protect, but also to improve our credit rating simply to qualify for a home loan. This is the subject of this month's Client Appreciation Item of Value enclosed.

Effects of Short Sales Versus Foreclosures

There are various blogs and articles about the effects of short sales versus foreclosure. But the best one I've seen is a matrix produced by Distressed Property Institute and I've seen that matrix reproduced in so many places. If you google specific phrases or sentences from that matrix, you'll see a ton of sites that feature this matrix.

For example, google "A homeowner who successfully negotiates and closes a short sale will be eligible for a Fannie Mae backed mortgage only after 2 years" and count how many sites have this matrix.

RELATED POSTS

Who/Where/How/What/When to use the $8,000 first time buyer tax credit with an FHA loan

TAX CREDITS for ENERGY EFFICIENCY. More good news for home buyers and home owners!

BULLET POINTS for homewners contemplating a short sale

When is it too late to save a home from foreclosure? What NOT to do if owner wants to keep the house