About San Leandro's Estudillo Estates

The Home Valuation Code of Conduct (HVCC) Becomes effective on May 1st. 2009 and it will hurt home buyers, home sellers, real estate brokers, appraisers and lenders amongst others. Be aware, be prepared, be patient, and... don't talk to the appraiser!

The New York attorney general after concluding an investigation into Freddie Mac and Fannie Mae's appraisal practices along with several government agencies, decided to adopt new changes for appraisals in the mortgage industry. Loan brokers and lenders are no longer allowed to chose their appraiser, all relationships with them are almost illegal!

This is what the first paragraph of the newly enacted resolution says: Home Valuation Code of Conduct: No employee, director, officer, or agent of the lender, or any other third party acting as joint venture, partner, independent contractor, appraisal management company, or partner on behalf of the lender, shall influence or attempt to influence the development, reporting, result, or review of an appraisal through coercion, extortion, collusion, compensation, instruction, inducement, intimidation, bribery, or in any other manner including but not limited to:... Followed by 10 points and 11 subcategories of limitations as to what the lender can and cannot do when dealing with the appraisers. After all, appraisers were blamed for the current market conditions.

These new rules force lenders to go to a third party for their appraisals. They must now use and AMC (appraisal management company) forcing appraisers to join an unregulated AMC that will charge 50% or more of the appraisal fee for their services. It disallows the appraisers from engaging in any type of communication with mortgage brokers, Realtors, loan officers or anybody that may receive a commission upon funding of that loan. Seasoned, experience appraisers are forced to share their fees wiThu AMC's

The home buyer will probably have higher costs incurred as a result of this new rules, the delays in closing escrows now will go further because of funding delays from 30 to 45 to maybe 90 days. Lenders are not prepared or familiar enough to deal with these changes. Buyers will have to pay higher fees for the lock-in rates and the extensions and if they change lenders, they will have to get another appraisal! Home sellers will not be happy either, because for them, closing early might mean the difference between a normal sale, to a short sale to even foreclosure.

For us Realtors, we need to start counseling every client about these delays right from the moment we take the listing or write the contract for the buyer. Listing agents should be well prepared to meet the appraiser, have enough comparable sales if available. When additions have been done to the property, copies of finalized permits should be handled over at the same time, and follow up with the lender to make sure the package is complete when submitted for final approval.

As we approach the November 30th 2009 deadline cut for the $8,000 tax credit to first time homebuyers , these delays will cost a lot of people a lot of money. This is one regulation we did not need at this time, but we have to deal with it. Hopefully we get better oversight and more conservative lending in the future, but until that happen, sit down and buckle up because this is going to be a white knuckle ride if you are dealing with real estate appraisals.

Antonio & Alexia Cardenas, "The Realtors In Motion" Serving the wonderful cities of San Leandro, San Lorenzo, Castro Valley, Oakland, Hayward, Pleasanton and Dublin in the Alameda County, on the East Side of the San Francisco bay. Visit us at www.ListedByAntonio.com (510) 326-4263

By giving free dance lessons at their house in the middle of the week, these Realtors are looking for business to the tune of the cha-cha-cha and even tangoing with their potential home buyers.

A few minutes before 7 PM the door bell rings, a voice comes thru the video monitor and shouts "I'll be right there..." as the 2 visitors wait for the door to open they are joined by another couple that just arrived, then another, and another, some with children in tow, they all have made a commitment to be there every week exactly a 7:00 PM. As the group greets each other the door opens and the sound of music can be heard, hugs and kisses greet the visitors, someone brings a case of water but most bring a pair of extra shoes. The music playing in the background and the colorful Christmas strings of lights give the ambiance a party atmosphere, even though it is a late Wednesday evening at the beginning of February 2009.

As the guests arrive, the hosts instruct everybody to start warming up and stretching, class is about to begin, about 16 couples fill the 900+ square feet ballroom inside the house. The Pergo floors, mirrored walls and surround sound system with a computerized DJ transform this house into a dance studio, this is the private ballroom at the residence of Realtors Antonio & Alexia Cardenas in the Estudillo Estates neighborhood in San Leandro, California.

After everybody has signed the register, the group gets serious about the task at hand; they are learning how to dance. In the middle of the week, after work, they know that they only have 5 free dance classes and they want to learn as much as they can. The hosts give a demonstration of what the class will be about and then begin to explain every step. "Ladies behind Alexia, gentleman behind me", calls Antonio, one-two-three... four-five-six. Soon the group gets into the class paying attention to every detail.

These instructors are very well known around town for being "The Realtors In Motion" and ballroom dance competitors, they have incorporated their love for dance with their work as Realtors. Their over 200 free ballroom dance demonstrations performed around town have given them status of Stars. In the past when asked if they gave classes, they always said no. Their business after all is and has been for the last 24 years exclusively selling real estate, dancing was simply a hobby, a serious hobby nevertheless because they are active amateur dance competitors. Dancing gets them up every day of the week at 6:30 AM to practice, half an hour of stretching and then dancing from 7 to 8:30 AM Monday through Friday. They work mostly out of their home office.

Dancing is now more important than ever before. It all started when they realized that the real estate activity during their Sunday Open Houses had come to a complete stop. Sometimes in a period of 4 hours they'll be lucky to get 2 or 3 people. The newspaper advertising, the bus benches with their names and phone number on them plus several open listings around the neighborhood with for sale signs have not made the phone ring as often as it used to. Something needed to change. Dancing had to become a vehicle to sell real estate.

This is an up-close and personal approach unlike any other, the idea of holding the home buyer in their arms for a few minutes right after they meet him/her for the first time sounded very interesting to say the least. One of the ideas they had during a brain storming session was: If people do not come to the Open Houses on Sundays, let's bring them to our home during the week and teach them the Salsa, The Cha-cha-cha, even the Tango, the Night Club 2 Step and the Waltz. The local hair salon that Antonio visits regularly was the perfect place to start. He asked his hairdresser to put together a group of friends that will make a commitment to come learn how to dance for 5 Wednesdays in a row in the privacy of his private ballroom at home. He asked her to invite some of her clients too.

In order to be as transparent as possible, the first night they met their students they explain why they were giving these free classes, they not only asked for their help in finding people who wanted to buy or sell real estate but also asked everyone what they did, and by doing that encouraged everybody in the room to do some networking during these meetings, after all "We all need each other, we are always someone else's consumer or client no matter where we go or what we do, we all need help at this time, no matter what type of business we are in" Alexia explained. Conveniently they invited a local loan officer and her husband to join in and she was prominently introduced to the group.

The dancing classes are over now, and a "Graduation Party" has been scheduled for the following Sunday afternoon. The group is bringing their friends and relatives (with especial invitations on those who want to buy or sell a house) along with food and drinks, they are expected to show their newly acquired dancing skills to them. Before they leave, they will be given appointment calendars (with pictures of dancers of course), teddy bears with a bow that has Antonio & Alexia's phone # on it plus a few of their business cards. This group will be invited a couple of months down the road to take yet another set of 5 different classes. But for now they must practice at home... because there is a new group of beginners that is set to start the very next Wednesday night for another 5 weeks of dancing, and they too will have their own graduation party. These Realtors plan on dancing for as long as they can to increase their network of potential clients.

There is a proviso however: You will get access to these classes every single week and with every group if you help find a home buyer for them. What's the Grand Prize? Front Row Seats for 4 people to watch Antonio & Alexia in full flight at their next ballroom Dance Competition in San Francisco. The Cardenas seem to have found a new way to dance the Real Estate tunes in these trying times.

Antonio & Alexia Cardenas, "The Realtors In Motion" can be reached at (510) 326-4263 www.ListedbyAntonio.com Serving the County of Alameda in the heart of the San Francisco bay area, especially the cities of Castro Valley, San Leandro, San Lorenzo, Hayward, Oakland, Pleasanton & Dublin

The Inauguration party in Washington D.C. is over. It appears to me that the new President is the kind of medicine that we need... right about now. "Change" & "Hope" were the tag lines for his run to the Presidency, I am optimistic about this change, I believe the infamous "economic stimulus package" will actually become reality very soon and that it will help my clients; the homeowners in distress. I am optimistic that we will see the housing market stop the slide and start the slow, long recovery.

I like this young president, a black man who grew up with no father figure, no silver spoon to speak of and from an economic background that could have never be expected to be worthy of a house like the one he will be living in for the next four years... The white house. He has done it! He has made history. I am pleased because I followed for the very first time a Presidential election very closely, I was rooting for him to win. His swearing in ceremony is not the end of my following, it is just the beginning. A long time ago, a black man dreamed a dream and today that dream is reality!

Barack Obama was able to take advantage of the very few opportunities he had. He become educated enough to reach for the stars, he understood that the success in his life would depend on his skills, determination and hard work. He represents an incredible change for many different reasons, but for a large minority of his peers he is an icon and he is clearly telling them, if I can do it... YOU can do it too! There are no barriers out there anymore. There are no more excuses, if you work hard, you can reach the highest possible job anyone can aspire to get. What is better than the job of President of the United States of America? African Americans are inspired to reach for the stars, when they do, we will all benefit from that change. I am optimistic that it will happen, we are looking at the making of history but we must not forget that we are a part of it.

The challenges are numerous and we should support his presidency and allow enough time for this economic recovery to take place, it will be done under enormous scrutiny and with great expectations. But he cannot do it alone, we have a part to play on this recovery. We must be on board because there is a place on it for each one of us. Our success as business people depends on the success of our government. There are a lot of reasons for us to be optimistic. But our optimism must be contagious enough to reach our clients, the sellers and buyers of real estate, because that is the first step to a full recovery. A small step forward from each of us will help all of us! Change is what he promised, change is what we need.

Antonio & Alexia Cardenas "The Realtors In Motion"

Serving the San Francisco Bay Area counties of Alameda and Contra Costa. Selling Real Estate since 1985. Visit us on line: www.ListedByAntonio.com

Long time ago I read something that said, "it is not what happens to you, but how you react to what happens to you that determines the result..." Often times I am asked that infamous question; How is the real estate business? As we all know, when it is real dark in one part of the world, there must be a very high noon kind of sunshine in the other side of the world. Don't believe me? Call Australia tonight.

Therefore, when some people believe this is the worst real estate market in eons... there is a great market for a bunch of people who never thought that one day they could afford to buy their very first house or better yet, their very first investment property, or for a seasoned investor to improve their portfolio of properties by acquiring more.

There is in one side of this market, a tsunami of bad news: prices going down, equities are being lost, hard time to get refinancing or a new loan. Mortgage payments that are being made to a loan that will never be paid off. For example, our client Frank bought a house 4 years ago for $900,000. Frank didn't put a downpayment, and make payments of interest only. Obviously he does not have equity in his home and now that prices have dropped, his home is worth about $700.00. Frank is fine as long as he makes the montly payments. He has a great tax write off. However, if he stopped making payments he would be in trouble, he is sort of making hight rental payments but with a tax benefit.

But there is that other retreating part of the tsunami of bad news that have uncovered a gold mine for first time buyers and investors: There is a great number of properties to choose from, motivated sellers willing to accommodate first time buyers, clean their houses, make repairs and almost anything else the buyer might ask for in order to sell the property. Interest rates at this time (December 2008) have dropped below 5.5% fix...! For investors, the rental income predictions are good, simply because of the number of qualified tenants, (previous homeowners) that will have to rent for many years because they cannot fix their credit in order to buy a house. This will represent steady and good income numbers down the road.

I have been selling real estate since 1985, I have seen the bad, the good, the bad again, the good again... and here we are in what I believe is the end of the real, I mean real bad market... or is it? Most of us learned to first save for a downpayment and closing costs and then go look for a house. That wasn't just the old way... that should always be the way... to buy a house.

I would like to encourage all my fellow colleagues to be ready and prepared to answer this question in 60 seconds or less... describing this market in a way that shows the great benefits available right now... How is the real estate market? ready? go!

Antonio & Alexia Cardenas, "The Realtors In Motion". Selling the San Francisco bay area counties of Alameda and Contra Costa. Home based in San Leandro & Castro Valley, CA.

Accepting referrals 24/7. Callus, we'll come and TANGO with you!

www.ListedbyAntonio.com

The following is from the microfilm copies of the San Leandro Reporter. Article is dated April 20^th, 1934.

Mayor's history is briefly told; Derry not new to gavel waiving.

San Leandro has a new mayor, but to many persons the chief executive is an unknown quantity though he is probably one of the more widely known members of his community, as is witnessed by the huge number of votes cast for him in 1932 when he was elected to the city council.

Prior to his coming to San Leandro in 1928, Derry had served as a councilman and mayor in his hometown of Ashley, Michigan, where he lived for eight years.

Derry was born and raised in Ithaca, Michigan where he lived until he was 25 at which time he married and moved to Ashley, a small city 14 miles from his birthplace.

After moving to Ashley he went to farming, which pursuit he followed only a short while. He then came to California and stayed one winter in Oakland. Unable to find suitable business to enter, he returned to Ashley where he engaged the farm implement business with his father for a period of eight years. It was during this time that he was elected to the city council and served 18 months of his term as mayor.

With the wane of agriculture, Derry disposed of his interests to his father and again turned this interests west this time settling in Elmhurst where he opened a real estate office on E, 14^th Street.

Shortly thereafter he became engaged in the building business and constructed 15 homes on 87^th Avenue in Oakland.

Finding the contracting business to his liking, Derry then turned his attention to San Leandro, and opened what is known as the Del Orta Tract through which California Street Runs. Here he built 15 homes, which he disposed of after he opened up the Cherry City Tract laying between Superior Avenue and Foothill Boulevard and Dutton Avenue, where he built 56 homes. He then turned his attention to Broadmoor Park where he built approximately 50 homes.

Upon his entrance to business in San Leandro he moved his office from Elmhurst to the Freidman Building and about a year ago moved into his present offices on the Mason Property where he is engaged in the real estate and insurance business with his brother Tom Derry.

************** My side notes on tracts by Derry Bros. ***********************

"Del Orta Tract" is California Avenue behind San Leandro City Hall.

"Cherry City Tract" is Superior Avenue between Dutton and MacArthur Boulevard

"Broadmoor Park Tract" is Lee Avenue and Arbor Drive in "Estudillo Estates"

"Lealand Heights" is the older portion of Bay-o-vista above Estudillo Avenue

"New Broadmoor Tract" is Glen Drive, Begier Avenue, Oakes Boulevard and Superior Avenue (east of Chetland Road) in "Estudillo Estates"

Other tracts where Derry, Weaver & Derry or Derry Bros. homes can be found are; "LeBrun Tract" and select parts of "Estudillo Estates" (Bridge, Collier, Cary and Rondey).