Silicon Valley housing market is 'looney-tunes,' real estate broker says

Great article and video from CNBC about the craziness of the Silicon Valley housing market. As a Realtor, I have benefited from the hot housing market. The video below pretty much sums it up.

http://video.cnbc.com/gallery/?video=3000542782

The housing market in Silicon Valley is "looney-tunes," real estate broker Fred Glick said Friday.

That's because it's all about supply and demand, with people flooding to the area from around the world.

"We just keep adding people like crazy and we can't get enough supply. That's why people have to share houses. That's why renters know that they have to pay an exorbitant amount of money," the CEO of real estate brokerages Arriva and U S Spaces said in an interview with CNBC's "Closing Bell."

The median home price is $1.1 million in San Francisco and $2.5 million in Palo Alto, according to Zillow.

 Pro on housing costs: LA and SF are 'Looney Tunes' Pro on housing costs: LA and SF are 'Looney Tunes'
Friday, 12 Aug 2016 | 4:15 PM ET|03:40
The housing market in Silicon Valley is "looney-tunes," real estate broker Fred Glick said Friday.

That's because it's all about supply and demand, with people flooding to the area from around the world.

"We just keep adding people like crazy and we can't get enough supply. That's why people have to share houses. That's why renters know that they have to pay an exorbitant amount of money," the CEO of real estate brokerages Arriva and U S Spaces said in an interview with CNBC's "Closing Bell."

The median home price is $1.1 million in San Francisco and $2.5 million in Palo Alto, according to Zillow.

Kelly Porter Real Estate
Erin Lubin | Bloomberg | Getty Images
Things have gotten so pricey that this week alone two high-profile people have been driven out of the Bay Area. San Francisco Federal Credit Union CEO Steven Stapp said he's taken another job in Portland, in large part because his rent in San Francisco is too high.

And a member of Palo Alto's planning commission, Kate Vershov Downing, posted a public letter of resignation on Medium, saying she and her family can't afford the $6,200 rent of a house they share with another family.

Glick said the real estate market is a local issue, with different cities facing different conditions. In Philadelphia, for example, it is "generically busy," with houses in good areas with good prices being snapped up quickly. In Tuscan, Arizona, however, there is two to three months of inventory for houses under $300,000, he said. And Houston has an overbuilt luxury problem, he said.

"It depends on where you go," said Glick.

One thing that won't impact the market will be if mortgage rates rise, he said.

"Mortgage rates don't matter because the way it is, you are thrilled to be a mortgage," he said, noting that it is a nightmare getting mortgages approved.

"If the rates go up, people take a five-year ARM instead of a 30-year fixed," he said.

Source: CNBC, Michelle Fox
http://www.cnbc.com/2016/08/12/silicon-valley-housing-market-is-looney-tunes-real-estate-broker-says.html

ABC Nightline on Flipping

Here's a great video I found on RealtyTrac's website regarding the realities of house flipping. Over there years I have seen many so called "reality TV" shows on cable TV that portray house flipping as easy. Then I often hear radio commercials as I am driving in my car of some huckster or another promising real estate riches if you can just pay $100 for his guaranteed to work house flipping system. Well, if you're on the fence about flipping houses for profit, I suggest you watch the below video before you get suckered into something you're not prepared for. I am not saying buying houses, fixing them up, and selling for profits is not a way to make money, just know what you're getting yourself into.

Related:
5 Mistakes That Make House Flipping A Flop

My good friend Heather with Roh Habibi with Million Dollar Listing San Francisco

Heather Thompson-Twardus with Old Republic Title, a good friend and colleague of mine had the pleasure the other day of meeting with one of the new stars of Bravo TV's Million Dollar Listing San Francisco, Roh Habibi. I look forward to watching the show this season for sure.

Million Dollar Listing San Francisco

Century 21 Finds World’s Worst Garage Band

Century 21, the company I work for as a Realtor has a new marketing campaign in which they feature a really, really crappy garage bad making all kinds of terrible noise as a reason to move. I've seen all kinds of marketing pitches and ad campaigns in this business, but this is a new one for me.



To coincide with summer concert season, Century 21 has launched a social media campaign to sniff out the worst garage bands globally who are terrorizing neighborhoods with their awful music.  The idea for the campaign is that if someone lives near one of the world's worst garage bands, Century 21 can help you move.

Century 21 selected four finalists, from South Florida to the United Kingdom (who they say wanted to be on the list too), and has unveiled videos of each of the bands this week on social media channels. Each short video showcases the band's "special talents," Century 21 notes. Also, each of the videos end with the message: "If you live within earshot, we'll help you move immediately."

To view the worst of the worst, use the hashtag #WorldsWorstGarageBand on social media. Century 21 is having the public vote for a winner. Voting is open through July 29.

Source: RealtorMag Online
http://realtormag.realtor.org/daily-news/2015/06/11/century-21-finds-world-s-worst-garage-band?om_rid=AAFmZk&om_mid=_BVeejGB9CnYC8V&om_ntype=RMODaily

Living Room Arrangements For The TV (And Non-TV) Obsessed

I don't what much TV myself since I am so busy with my real estate business, but I have to remind myself that not all my buyer and seller clients are like me. Some of them Love their TV and watch it allot. I've seen the inside of many condos, town homes and single family homes, and one thing I've learned is that some living rooms and family rooms don't lend themselves well for setting up a TV, but some do. It all depends on the floor plan and layout of the home. Below is a great article from RealtyTimes regarding setting up your living room for your TV or if you don't have one.

Living Room Arrangements For The TV (And Non-TV) Obsessed


You think finding the perfect home is a challenge? Just try fitting your existing furniture into your new living room. How do you create symmetry in an asymmetrical space? How do you handle multiple focal points? And most importantly, where do you put the TV?!

"Where you place your furniture in a room will instantly set the tone for how you'll live in that room," said HGTV.

And yet, "most new homeowners - when presented with a bare room - are overwhelmed with possibilities and insecurities of furniture arrangement," said Budget Decorating.

Here are a few solutions that will help you lay out the furniture to maximize utility and enjoyment of your living room.

Small space, no TV

We don't personally understand the "no TV" part, but we can all relate to a small space and the seemingly limited options for arranging furniture in a way that still seems looks chic.

Create an intimate space with pieces that coordinate and complement instead of reverting to matchy-matchy. The mix of colors and textures, plus a smart use of window coverings that accentuates the ceiling height, create a lovely room.



A cocoon with a TV at the head

Now this we understand. A cozy seating arrangement that creates multiple conversation areas plus lounging space for catching up on National Geographic is right up our alley. It's sophisticated, but still useful.



Creating a focal point

This is often a problem in homes where there are potential focal points on opposite or adjoining walls.

"Identify the room's focal point - a fireplace, view, television etc - and orient the furniture accordingly," said Houzz. "If you plan to watch television in the room, the ideal distance between the set and the seating is three times the size of the screen (measured diagonally). Therefore, if you've got a 40-inch set, your chair should be 120 inches away."



Here are some more tips from Houzz:

"Place the largest pieces of furniture first, such as the sofa in the living room or the bed in the bedroom. In most cases this piece should face the room's focal point.
Symmetrical arrangements work best for formal rooms. Asymmetrical arrangements make a room feel more casual.
Think about the flow of traffic through the room—generally the path between doorways. Don't block that path with any large pieces of furniture if you can avoid it. Allow 30 to 48 inches of width for major traffic routes and a minimum of 24 inches of width for minor ones."

All TV, all the time

Let's face it. Today one of the biggest decisions regarding furniture placement is where to put the TV. Sometimes a decision about whether or not to buy a certain house swings on the fact that there is no space for a giant flat screen.

"Today, the television has become the focal point," said Better Homes and Gardens.



Ideally there's a fireplace with a lowish mantel and it's right in the middle of the room with a parallel wall where you can put your couch and you can hang the TV above the fireplace in direct line of sight of everyone watching and all is happy in family land. If that doesn't work or if you abhor the prospect of your TV being the focal point, you can get more ideas here.


Source: RealtyTimes, Jaymi Naciri
http://realtytimes.com/consumeradvice/homeownersadvice1/item/34865-20150511-living-room-arrangements-for-the-tv-and-non-tv-obsessed