HAPPY NEW YEAR!

It's been a rough year for everyone, but especially those of us in real estate. So here is to a better new year with a new administration and better stimulus efforts to kick start the credit market and get us out of this mess......



Steve Mun, Silicon Valley Realtor
www.stevemungroup.com

Beware: consumers do your due diligence

In the last week, I have dealt with a couple of agents writing offers on my listings. What is triggering this particular entry has been my frightening experience with their efforts.

Let me first explain this entry is not my attempt at bashing fellow agents; we have all chosen and committed to making a living in this particular field and I respect everyone’s effort in doing this during this difficult time for our industry. As in any industry, there is a minimum standard of professionalism which is expected from the consuming public. We all took and passed our exams and were licensed by the DRE (Department of Real Estate) to practice our crafts in a professionally prescribed manner. In fact, we have minimal educational requirements as a condition to keeping our licenses current; this is similar to many professions (e.g. lawyers, accountants, nurses and even beauticians) having such similar requirements. I cannot speak for other professions, but if a real estate professional does not abide by this educational requirement, the practitioner’s license can be suspended. (In California, you can check on the status of the license by going to http://www2.dre.ca.gov/PublicASP/pplinfo.asp ).

Yes, times are tough for the Real Estate profession, but as we have more time on our hands, this is the perfect time to catch up on our educational requirements and better ourselves (not the just the minimal requirements, but additional training to improve our skills and take us to the next level). I was shocked at the level of professional demonstrated by the last two Realtors I had write offers to me. These newer (but not brand new) agents had written me offers which embarrassed me on their behalf. So bad were their efforts, I will probably, avoid doing deals with them in the future, because I know they cannot represent their clients effectively and I will have to do double work just to keep the deal alive. One of them actually had a suspended license due to their failure to complete their education.

Mind you, this is not the norm, but there are agents out there who should not be practicing and certainly not be getting paid high dollars for doing inferior work on suspended licenses. Consumers, you can at least avoid people who have suspended or expired licenses by going to the DRE’s website and making sure you are dealing with legitimately licensed agents. These types of agents give all of us who do our best to maintain our professionalism a bad name and should be weeded out. Again, to check on their license status go to http://www2.dre.ca.gov/PublicASP/pplinfo.asp Consumers, do your due diligence to avoid problems down the line.

Steve Mun, Silicon Valley Realtor
www.stevemungroup.com

What is QSC?

I have a designation called QSC® on my business card and on my websites; so naturally, I get a lot of questions as to what that specifically means. Those inquiries have led me to write this piece. It’s a designation which means Quality Service Certification and it is bestowed on you once you pass a written test and agree to put certain practices into your business. And once so designated, your clients fill out quality surveys after each transaction you engage with them, which results in a Quality Service score which is posted on the organization’s website. If your quality scores drop below an acceptable level, you are stripped of your designation.

As any homeowner knows, the sale or purchase of what for many is their most valuable asset, deserves the serious attention and accountability of a defined, written and communicated service process with measurable standards; that’s exactly what a Quality Service Certified^® professional must deliver. As the saying goes: “you get what you pay for.” This statement rings especially true in these difficult times in Real Estate; this is no time to guess what type of service you are getting for your money; not all services are the same.

This is why CAR (California Association of Realtors) has officially recognized and recommends this first organized effort to provide a standardized approach to providing quality service to consumers of real estate services.

This designation certainly does not mean that all such practitioners will walk on water, but it will help a consumer seek out those who have agreed to and engage in measurable quality service practices in their business.

Here is link with FAQs about the certification.

http://www.qualityservice.org/faqs2.aspx

Steve Mun, Silicon Valley Realtor
www.stevemungroup.com

Santa Clara County Market Conditions November 2008

Great Starter Home or Rental Property

Steve Mun/Al Chandar | Keller Williams Realty | 408-802-5641/408-850-6964 2616 Tradition Way, Modesto, CA 4/2 with 1617 sf on 5227 lot built in 2000 with all modern amenities. 4BR/2BA Single Family House offered at $175,000 Year Built 2000 Sq Footage 1,617 Bedrooms 4 Bathrooms 2 full, 0 partial Floors 1 Parking 2 Car garage Lot Size 5,227 sqft HOA/Maint $0 per month DESCRIPTION Excellent starter home or investment property in a great neighborhood and within walking distance to a neighborhood park. Built in 2002 with all the modern amenities. Priced to move quickly. see additional photos below PROPERTY FEATURES Central A/C Central heat Fireplace Family room Living room Stove/Oven Microwave Laundry area - garage Yard COMMUNITY FEATURES Garage parking ADDITIONAL PHOTOS Seller contact info: Steve Mun/Al Chandar Keller Williams Realty 408-802-5641/408-850-6964 For sale by agent/broker Equal Opportunity Housing Posted: Dec 16, 2008, 10:53am PST

Finally some good news...... 4.5% Mortgage Rates in the near future?

The Government is talking about the possibility of the Treasury Department buying up 30 year fixed mortgage backed securities from Fannie Mae and Freddie Mac so that we can push down the rates to 4.5%.

Click here for the full story


This would be excellent news to kick start the housing sector which is stuck in the mud now. Wouldn't it be wonderful to allow people to have reasonable mortgage rates so that people can buy or refinance their rates? Finally, after months of helping corporations, an effort to help the regular homeowners is being discussed.....

I know from first hand experience that buyers are sitting on the fence because they are unable to get loans from banks. An interesting situation because for buyers, this an excellent opportunity to buy, but being unable to get the loans to actually commit to the purchase.

As we have learned over the last couple of months, in order for our economy to strengthen, consumers must start spending to drive up demand for serivce and products. Many economists believe we need to get the housing sector moving first to kick start our economy. And as we know from experience, when mortgage rates drop, people start buying homes. Let's all hope that this talk transforms into action.




Steve Mun, Silicon Valley Realtor
www.stevemungroup.com

Your opportunity at custom built luxury!

Steve Mun/Al Chandar | Keller Williams Realty | steve@stevemun.com | 408-802-5641/408-850-6964 3882 Via Salice, Campbell, CA SHORT SALE. We can also help you if you do not qualify for loan modification or are now facing foreclosure. 5BR/4.5BA Single Family House offered at $1,100,000 Year Built 2001 Sq Footage 3,782 Bedrooms 5 Bathrooms 4 full, 1 partial Floors 2 Parking 2 Car garage Lot Size 6,970 sqft HOA/Maint $0 per month DESCRIPTION Come see this delightfully modern grand design, luxuriously appointed custom home in an intimate and desirable neighborhood which feeds into the highly sought after Moreland School District. Custom built in 2001 with all modern amenities, granite slabs, hardwood, recessed lighting, dual pane windows, cathedral ceiling, fans, dual zone air conditioning, professional grade kitchen with Viking system, central vacuum, owner owned security alarm system, intercom connected to every room, laundry shoots, sky lights, bay windows, crown molding, etc.... The numerous dual pane windows throughout the house bathes the house full of natural light; the open gourmet kitchen opens up to a large family room which flows out to the backyard patio for family gatherings; yet there are separate dining and living rooms for formal settings. Your own private backyard retreat adorned with various fruit trees, a tranquil water fountain, and your own private golf range to lower your handicap and a storage shed to load up your precious golf equipment...... You must see all of the amenities to appreciate them all. Located ideally in the heart of Silicon Valley. see additional photos below PROPERTY FEATURES Central A/C Central heat Fireplace High/Vaulted ceiling Walk-in closet Hardwood floor Tile floor Family room Living room Dining room Dishwasher Refrigerator Stove/Oven Microwave Granite countertop Stainless steel appliances Washer Dryer Laundry area - garage Balcony, Deck, or Patio Yard Jacuzzi/Whirlpool COMMUNITY FEATURES Garage parking Storage space(s) OTHER SPECIAL FEATURES 2 car garage Fruit trees galore Mini Golf Range Storage shed ADDITIONAL PHOTOS Seller contact info: Steve Mun/Al Chandar Keller Williams Realty steve@stevemun.com 408-802-5641/408-850-6964 For sale by agent/broker Equal Opportunity Housing Posted: Nov 26, 2008, 2:16pm PST