East Bay Real Estate Update: February 2014

Friday, February 28, 2014

Bike N’ Bird in Oakland

Martin Luther King Jr. Regional Shoreline, Oakland, California

This weekend get out of the house, breathe some fresh air, and take to the paths of the beautiful San Francisco Bay Trail. All you need to bring to the Bike N’ Bird event is your family, your bicycles, and your enthusiasm for the outdoors.

The Martin Luther King Jr. Regional Shoreline tenders one of the most outstanding trails for biking, and bird-spotting. During your morning bike ride at the Bike N’ Bird event, you and your family will be looking for all of the birds that could be in the area, at this time of the year. As a group, you will be spotting, and identifying shorebirds, ducks, and pelagic birds. Birds that are commonly seen along the San Francisco Bay Trail include Loons, Grebes, Shearwaters, Herons, Egrets, Gulls, and more.

Tidewater Boating Center instructor Francis Mendoza will be along for the ride, assisting you in identifying the many varieties of birds seen. He will be pointing out various bird species, and will be giving informative discussions on the history and behaviors of the differing birds. He will also offer advice and guidance on how and where to spot the diverse species.

The Bike N’ Bird event is free to attend, and welcomes all age groups. The happening offers a fantastic morning bike ride that you can take as a family, indulging in the sights and sounds of the birds in the area. The San Francisco Bay Trail is truly a spectacular path to luxuriate in the true beauty of nature. Be sure to bring your helmets and binoculars. Should you need to borrow binoculars, the Shoreline will be happy to lend you theirs.

So this weekend, ditch your morning coffee shop routine, and head to the Martin Luther King Jr. Regional Shoreline. Bring the entire family to hop on your bikes, in pursuit of spotting as many bird species as possible, along the San Francisco Bay Trail.

Saturday March 1^st

9:30AM-11:00AM

For more information regarding the Bike N’ Bird event, please click here.

Saraya and Simon Motley
Pacific Union and Christie’s International Real Estate
Serving Alameda & Contra Costa Counties
510.459.4338/direct . 925.385.8503/direct
925.403.7802/eFax
saraya@eastbayhouse.com
www.eastbayhouse.com
CalBRE License #01265873

Photo courtesy of Richard Masoner / Cyclelicious/flickr.com.

Tuesday, February 25, 2014

Top Tips for Mortgage Borrowers in 2014

In the market for a mortgage? Take a look at these helpful mortgage tips for 2014, compiled by Bankrate, an online aggregator of financial rate information:

1. Be Prepared to Document Your Finances
Mortgage regulations went into effect in January that put new pressure on lenders to verify that borrowers are able to repay their loans. Keep track of financial documents, including bank statements, tax returns, and investment accounts, and be ready to show them to a loan officer.

2. Rates Are Rising, So Don’t Delay
Mortgage rates will almost certainly climb in 2014 as the Federal Reserve scales back the economic stimulus program that helped keep rates low in recent years. If you are planning to get a mortgage, don’t put it off much longer.

3. Don’t Wait to Refinance, Either
Owners who are paying more than 5 percent interest on their home loans still have a chance to refinance at lower rates, but those rates won’t last forever (see above). Speak to a loan officer and take a look at the numbers to see if refinancing still makes sense.

4. You Have Bargaining Power. Use It.
Lenders saw a big drop in refinancing activity in 2013 as interest rates started climbing higher, so they will be more aggressive in courting homebuyers in 2014. Buyers should take advantage of the bargaining power they gain with that increased competition. Shop around for the best deal.

5. You Have New Rights, Too
New mortgage rules created by the Consumer Financial Protection Bureau go into effect in 2014, giving borrowers many new rights. Learn more about these rules, and if you have problems with your mortgage servicer or fall behind on payments, take advantage of your rights.

6. Pay Attention to Your Credit Score
Good credit is an essential when applying for a home loan. Monitor your credit history and score until your loan closes. The best mortgage rates go to borrowers with credit scores of 720 or higher. Though you may still get a mortgage if your score is 680, lower numbers will result in higher rates or higher closing costs.

7. Keep Your Spending Under Control
You are less likely to get a home loan if you won’t have much money left each month after paying the mortgage and other obligations such as credit cards and student loans. Try to keep your monthly debt obligations — including mortgage and property taxes — to less than 43 percent of your income.

8. Which Mortgage Is Right for You?
A homeowner who expects to keep a house for seven to 10 years could get lower mortgage rates by choosing a seven- or 10-year ARM instead of a 30-year fixed-rate mortgage. If you are not sure how long you plan to own the property, a fixed-rate loan is probably the wisest option.

9. Think Twice About an FHA Loan
First-time buyers frequently turn to FHA loans, in part because they allow for low down payments and have more lenient underwriting standards than conventional loans. But consider these points: Mortgage insurance premiums on FHA loans are expected to rise in 2014, and the borrower is now required to pay for mortgage insurance for the life of the loan.

10. Buy Your Home When You’re Ready
Mortgage rates will almost certainly rise in 2014. If you are in the process of house hunting, try to move quickly, but remember that this is likely the largest financial decisions of your life. Take the mortgage and homebuying process at a pace you feel comfortable with.

If you plan to buy a home in the Bay Area or the Tahoe/Truckee region, Pacific Union’s mortgage partner, Mortgage Services Professionals, can offer loan advice and consultation to help make your purchase a success.

Saraya and Simon Motley
Pacific Union and Christie’s International Real Estate
Serving Alameda & Contra Costa Counties
510.459.4338

510.459.4338/direct . 925.385.8503

925.385.8503/direct
925.403.7802

925.403.7802/eFax
saraya@eastbayhouse.com
www.eastbayhouse.com
CalBRE License #01265873

(Image: Flickr/401(K)2013)

Friday, February 21, 2014

15th Annual EHS Crab Feed Auction Fundraiser

Albert DeWitt O’Club-Alameda Point, Alameda, California

The biggest event in Alameda, California is finally here. For an entire year your taste buds, along with your shopping cravings, have been longing for the return of the EHS Crab Feed Auction Fundraiser. This Saturday night, the very special event will be returning to the Albert DeWitt O’Club-Alameda Point, for its 15^th consecutive year. Proceeds from the event benefit the Encinal High School athletic programs.

The evening will feature a barrage of magnificent food varieties. Of course fresh crab will capture the limelight, but salads, pastas, and desserts are also on the menu. Cold beverages, both alcoholic and non-alcoholic, will be available for purchase. Fill you plate, grab a drink, and take a seat amongst your friends and family.

After having finished your meal, meander the aisles, filled with hundreds of items that will be up for auction. Both live and silent auctions will be taking place throughout the evening. And absolutely buy into the numerous raffles that will also be floating around. There will be fabulous items behind each raffle ticket. You cannot go home empty-handed with the overwhelming amount of prizes, just waiting to be won.

Admission to attend this year’s Crab Feed Auction Fundraiser is $50.00 per person, or you can reserve a table for 10 for $600.00. This event is sure to become a tradition, as you will be able to convene with friends from the school, and from around the community. And businesses are always welcome to reserve tables for their employees, or clients. To purchase your tickets online, or to reserve your table, please click here.

Not only is the EHS Crab Feed Auction Fundraiser one of the most highly anticipated events of the year, but with its 15^th anniversary, it promises to deliver an even better venue than in years past. You can’t win, if you don’t play. This Saturday come out to bid on one, ten, or fifty wonderful items that are being auctioned and raffled, and participate in the indulgence of an incredible crab feast followed by decadent desserts.

Saturday February 22^nd

5:00PM-10:00PM

For more information regarding the 15^th Annual EHS Crab Feed Auction Fundraiser event, please click here.

Photo courtesy of Jim Miller/flickr.com.