A Great Local Resource for Both Newcomers and Lifers

If you have been in the real estate business for awhile, you might remember the McCormack's Guides. These are terrific little books with everything you could possibly want to know about a geographic area, and more. And, I mean EVERYTHING, from school scores to history to the local zeitgeist. All of this information is now online, and I wanted to make sure that everyone knew about it. For Alameda County, just visit this link to the McCormack's website.

Want the 2007 school scores? Got it! Want to know how to read the scores? Got that too! Need information on topics ranging from garbage collection to property taxes? That is there too, of course! Have to go to the emergency room? Find out which hospitals are nearby! Ready to go have some fun? Look here for ideas! (Like all good things, you have to take the good with the bad, so that means you can also look up crime statistics.)

What I love is that all of this information is now free. So, bookmark it today. Of course, you can still purchase the hard copy books, but all the information will soon be completely and exclusively online. And, if you need information on other California regions, you can find it on the home page.

I am always happy to be a resource, but you will probably get a pretty good start with www.McCormacks.com. And, when you are ready for more detailed or up-to-date information, please let me know. I am always happy to help. I can be reached at 510-547-5970 x57 or MSmartt@jps.net.

Quick Trips around the Bay

This holiday season, take some time out to have a little adventure with your family and enjoy all that the Bay Area has to offer. If you are here in the East Bay, plan some day trips to get out and enjoy something new. Set a destination and let the day unfold!

*Take the ferry to Pier 39 and be a tourist for the day. Stroll from Ghirardelli Square to Pier 39, grab some chocolate, have some lunch, stare at the sea lions, watch the cable car turnaround and just relax. For a quick virtual visit, check out the live sea lion webcam!

*The San Jose Tech Museum of Innovation is a fascinating for young and old alike. Located in Downtown San Jose, current exhibits include the eye-popping Body World display on anatomy and the progressive Green By Design displays. Make it more fun by taking BART to CalTrain or the Santa Clara VTA Train.

*Head north to visit the Charles M. Schultz Museum in Santa Rosa and re-discover the local genius behind Peanuts. Exhibits look at the history of the comic strip, its influence, and the art of cartooning. Save some time to go next door to the Redwood Empire Ice Arena, also built by longtime hockey enthusiast Schultz, for some wintry athleticism.

*Another fun day trip, though a bit further, would be to take the Amtrak train up to Sacramento to visit the California State Railroad Museum, a fascinating way to take in California history. Located in Old Sacramento, there is also a great deal of other state history around, as well as great shopping and restaurants. And, taking a relaxing train trip to get there is the way to go.

No matter where you choose to spend your holidays, have a great time enjoying this amazing region!

(Charlie Brown picture courtesy of http://www.schulzmuseum.org/)

Methods of Holding Title

Okay, students, time once again for a little Real Estate 101. Today's topic is methods of holding title. Many people begin by wondering, "What does holding title mean?" Well, when you own a house, there are many ways to own it, or, in other words, many ways to have the title in your name.



If only it was as simple as owning an iPod or even a car. But, there are many important issues at stake in how a home is owned, such as division of ownership or what happens to the property after an owner dies. Holding title is a very complicated issue, so remember that this is a just a brief overview.

A married couple usually owns their home as either Community Property or Community Property with Right of Survivorship. In both cases, the couple owns equal shares in the "community property" and cannot be divided by creditors. When it comes to survivorship, the home will automatically become the sole property of the surviving spouse under the Right of Survivorship arrangement. Without Right of Survivorship, each spouse can leave their share to someone else (in which case title would be held as a Tenancy in Common).

So, what is a Tenancy in Common, then? When a property is held as a Tenancy in Common, there can be any number of owners with equal or unequal interests. For instance, three people could own a home, with one person owning 50% and the other two owning 25% each. Each person can sell their share as they please, or will it to someone after their death. Any new owner would simply become a new member of the Tenancy in Common arrangement. Some married couples even choose to hold title this way.

Finally, there is Joint Tenancy, which allows any number of owners as long as all the ownership interests are equal. If there are three owners, they each own 33.33% interest. If one person sells their share, the property then becomes a Tenancy in Common. But, if one of the owners dies, they cannot will their share to someone because Joint Tenancy has Right of Survivorship. The interest of the deceased owner is shared between the remaining owners. So, if one of the three owners dies, the surviving two owners would then have a 50% interest each.

Now, remember, this is a just an overview. There are many twists and turns on the path to choosing the right method of holding title for your home. You can get great information on this topic and others from Placer Title, an escrow and title company that is terrific to work with. If you have questions about holding title, please let me know. I am always happy to help. I can be reached at 510-547-5970 or MSmartt@jps.net.

A Little Perspective on Today's Market

I just returned from a two-day real estate seminar that I regularly attend (presented by Buffini & Company), and wanted to share some of the statistics and information on the real estate market that were discussed.

Newspapers and the cable news networks continue to talk about the foreclosure mess. And, it is indeed a mess, but the singular focus on this story is distracting from some other fascinating numbers and stories. So, this is a healthy reminder to have a little perspective on the market, and to look past the alarmist reports out of the media.

Did you know that as of July 2007, right before the subprime problems began to emerge, that about 97% of all mortgages were current? And that about 30% of all real estate was owned free and clear, unencumbered by mortgage obligations? The real surprise is that those numbers have not changed all that much in the intervening months. As of November 30th, 95.1% of all mortgages are current.

Various forecasts predict that about 20-30 billion dollars are going to have to be written off because of foreclosures on subprime loans. That sounds terrible, but given that there are almost 10 trillion dollars in mortgages out there, that is less than 1 percent of all mortgages being affected by the subprime fallout.

It is a very complicated economic situation, so it is important to have some perspective on the big picture. But, keep in mind that the market is simply correcting itself. There are and will continue to be some negative results for some individuals and a ripple effect through some sectors of the economy. Yet, interest rates are terrific right now, There are some hot deals and motivated buyers out there, and it is a great time to invest in real estate for the future.

Next week, I will be mailing out to my regular clients a detailed look at the 2007 real estate market and a look ahead to 2008. If you would like information on the market from a trusted advisor, please let me know. I am always happy to help. I can be reached at 510-547-5970 x57 or MSmartt@jps.net

The East Bay's "Green Corridor"

Four major East Bay cities--Oakland, Berkeley, Emeryville and Richmond--have announced that they will work together to create what they call the "Green Corridor," a business region comparable to the Silicon Valley that will focus on Green technologies and solutions. This is a terrific commitment that should greatly benefit the local economy and, of course, the earth.

According to the Oakland Tribune, the cities will work together to "create programs and policies that promote energy conservation, green construction, a green industry and more. They plan collectively to seek state, federal and private money for research, job training and job placement targeting high school and community college students."

I hope to see this take off in the coming years, and it feels like we have a huge head start with so many leading edge eco-friendly developers and companies like the Alameda County Computer Resource Center, the City of Berkeley's new solar initiatives, and companies like EcoHome Improvement, Build It Green, and Bio-Diesel Hauling. These are just the tip of the iceberg, of course, and don't forget Lawton Associates own green condo development Gate 48 in the Temescal district!

Living in the East Bay, it is just so easy to go green, and I am happy to see the local city governments providing the incentives and vision to take us even further.

Berkeley's Golden Duplex Rule

Every town has obscure laws that can be confusing, and one to be aware of in Berkeley is the "Golden Duplex" rule. If you are buying a duplex with tenants in Berkeley, or if you are a tenant in a duplex that is being sold, it would be wise to find out if your duplex qualifies as a "golden duplex."

Strictly speaking, a Golden Duplex must meet two criteria. First, back in 1979, one of the two units must have been occupied by the owner at that time. Second, one of the units must now be occupied by the current property owner. The property is allowed to have changed owners (and tenants) during this time, but if these two criteria are met, then the property is a Golden Duplex.

Why is this important to know? Because properties that qualify as Golden Duplexes are generally exempt from Berkeley's strict eviction protection laws. Normally, tenants have a lot of protection from the City of Berkeley, but tenants in a Golden Duplex can typically be given a standard 30-day eviction under almost any circumstance.

This seems like quite an arbitrary rule, but there is a logical history. Duplexes are generally considered to have tenants who have a more familial relationship, especially when one of the units is occupied by the owner, so strict eviction protections should not be necessary. The rule does not apply to all duplexes in the city out of concern that all duplexes would become owner-occupied and there would be fewer rental units available. So, the dividing line was drawn at 1979, which was the year that rent control was introduced in Berkeley.

Obviously, this can be a complicated matter, and a lot of research and lawyers might be necessary. But, having a duplex confirmed as a Golden Duplex can be done. If you have questions about Golden Duplexes or other Berkeley rent control issues, just let me know. I am always happy to help. I can be reached at 510-547-5970 x57 or MSmartt@jps.net.

Getting Ready to Move

So, you have sold your house and bought another one. You thought that was challenging, but now comes the hard part--actually moving all of your stuff from one home to another. Whether you are moving across town or across the country, moving has the potential to be one of the most stressful events in your life. Here are some tips to help make moving day a little bit easier.


Make your moving van reservation two to three weeks ahead of time, and call to confirm regularly. For a standard two or three bedroom house, you will probably need at least a 20-foot truck. Consider reserving a dolly to help you move your larger items.

Get your boxes ahead of time, and consider spending a little more money on "auto bottom boxes." These are standard-sized moving boxes that pop into place and have an easy folding mechanism to close the box. No tape needed, and the box is securely closed in seconds.

Other supplies to have on hand include marking pens, strong packing tape and a tape gun, strong scissors, bubble wrap or other padding material for dishes and small fragile items, and blankets or furniture pads for protecting larger items.

You will need to keep some necessary possessions unpacked until the last minute. Keep a few changes of clothes and a toiletry bag handy, as well as a few towels and sheets. With all this activity is recommended to keep a first aid kit handy, too. Keep some disposable kitchen items around for simple meals, plus some activities to keep kids and pets happy. And, make sure to leave all of your cleaning materials easy to access.

Moving with pets can be very stressful for them. On moving day, keep them confined to one room, so that they will be the last members of your family to go into the car. When you get to your new home, take care of them first by placing them with love and attention in a room while the truck is being unloaded.

There are so many complicated aspects to moving, and everyone's situation is unique. If you have questions, or would like a complimentary Moving Tips guide, please let me know. I am always happy to help. I can be reached at 510-547-5970 x57 or MSmartt@jps.net.