Ray and Peggy Pierce Hollister, California Homes for Sale

An unmanageable mortgage is an unbearable burden.

2011-12-16T11:33:00.000-08:00

As we enter into the holiday season, millions of families are fearing foreclosure and not knowing where to turn.

More than 25 percent of homeowners in this country owe more on their home than it's worth in today's market. Add to that an unacceptable rate of unemployment and underemployment, and you've got a housing crisis with no easy answers.

As a Certified Distressed Property Expert (CDPE) it is my mission to help homeowners to avoid foreclosure and to get their lives on a positive path. If you or anyone you care about is faced with an unmanageable mortgage, I invite you to visit my website or forward this link http://www.ray-peggy.com/ for a copy of my most recent report entitled, "Mortgage Payment Weighing You Down."

The fact is, more help is available for financially distressed homeowners than ever before. This is no time to go it alone, and the time to contact me about getting on path toward financial stability is NOW!

Sincerely yours,

Ray and Peggy Pierce
Intero Real Estate Services
(831) 801-2400

CA-DRE # 01116170 - CA-DRE# 01067948

Unaffordable mortgage payments weighed heavily on a lot of Americans this year.

2011-12-02T10:50:00.001-08:00

Unaffordable mortgage payments weighed heavily on a lot of Americans this year. And there's something about the holiday season that seems to magnify financial burdens and uncertainty.

For homeowners who feel weighted down by a mortgage that is no longer affordable, there would be few more welcome gifts than the opportunity to make a fresh start knowing that they have successfully avoided foreclosure.

Helping clients to figure out their best course of action within a market that's nothing like any of us have ever dealt with before requires an entirely new level of expertise and training. That's why I've sought out the Certified Distressed Property Expert (CDPE) designation—the most recognized and respected training on distressed properties in the real estate industry.

I invite you to visit my website www.wehelpshortsales.com and contact me if you know someone you know who I could help.

Friends don’t let friends foreclose!

2011-11-28T17:09:00.001-08:00

The economy and the real estate market have taken their toll on our lives in many different ways. The latest statistics are that 6.3 million homeowners are currently in some state of foreclosure, and even more tragic is the fact that so often, homeowners let their homes slip into foreclosure without ever reaching out for help.

If you or anyone you care about is having trouble making their mortgage payment, you are not alone. And as a real estate professional who has achieved the Certified Distressed Property Expert (CDPE) designation, I am tapped into major lenders and the latest options for avoiding foreclosure and helping homeowners to get a fresh start to their lives.

Please don’t hesitate to contact me or forward my email or phone number to anyone you know who could benefit from a consultation on how to get out from under a burdensome mortgage.

Best regards,

Ray Pierce

Intero Real Estate

www.wehelpshortsales.com

#01116170

Foreclosure is avoidable!

2011-11-22T13:23:00.001-08:00

Have You’ve heard the latest statistics: 6.3 million homeowners are in some state of foreclosure.

The tragedy is that in so many cases, financially strapped homeowners let their home slip into foreclosure without ever reaching out for help. We need to do whatever it takes to spread the word that foreclosure is not the solution and should not even be viewed as an option.

If you are aware of anyone within your sphere or among past clients who are struggling with mortgage payments and could benefit from a consultation regarding their next steps, I can help.

Please don’t hesitate to contact me directly or to forward my phone number or email to anyone you care about.

Best regards,

Ray Pierce |Realtor

Intero Real Estate Services

Advanced Certified Distressed Property Expert

Certified Investor Agent Specialist

Graduate of “LEAD” from the Charfen Institute

E-Pro | Short Sale and Foreclosure Resource Certified

“Service is our Legacy, a Name you can Trust”

direct831.635.6735 | cell831.801.2400 |efax831.603.5892|toll free 1-800-946-5547

DRE# 01116170

foreclosure is not an option at all

2011-11-16T16:57:00.000-08:00

The combination of high unemployment and declining home values is wreaking havoc on homeownership. Selling a home or tapping into the equity is not an option for nearly one fourth of all homeowners who owe more on their home than it's worth in today's market, Here's the most important thing that financially strapped homeowners need to know: foreclosure is not your only option. In fact, foreclosure is not an option at all. As a Certified Distressed Property Expert (CDPE) it is my mission to help homeowners to get out from under a burdensome mortgage, and in the process, change the course of their lives. If you or anyone you care about is faced with an unmanageable mortgage, please know that I am connected to the best information and the best resources to ensure struggling homeowners the best solution based on their circumstances. I invite you to visit my website http://www.ray-peggy.com/ for a copy of my most recent report entitled, "Change the Course! And Navigate Away from an Unmanageable Mortgage." More help is available for financially distressed homeowners than ever before. This is no time to go it alone, and the time to contact me about changing the course is NOW!

It’s time to take another look at short sales

2011-10-25T15:19:00.001-07:00

As recently as a few months ago, if you would have told a real estate agent who specialized in short sales that they’d be raving about a lender’s stellar service and rapid approval times—not to mention significant cash incentives for financially strapped homeowners for pursuing a short sale—you’d have gotten some strange looks.

That’s all changed. And it’s changed faster and to a greater extent than most real estate professionals ever could have imagined.

With a glut of bank-owned properties dragging down the recovery of the real estate market, as well as the national economy, major lenders are more eager than ever before to avoid foreclosure. So they’ve sharpened their focus on short sales. Big time.

The biggest lenders in the country have staffed up to ensure rapid processing of short sale applications. They’ve ponied up with cash incentives at closing for homeowners who pursue a short sale. And they’re proactively reaching out to CDPE agents and putting them in touch with delinquent borrowers.

This is big news and the media has not really caught onto it yet. What’s important for you to know is that whatever you’ve read or heard in the past about long lag times and frustrations with short sales is probably no longer the case.

As a member of the CDPE Advanced community, I’m tapped into major lenders and on top of major developments affecting short sales and bank-owned properties. I invite you to visit my website www.wehelpshortsales.com to learn more and feel free to contact me any time at 831-801-2400 if you or anyone you know is struggling with an unmanageable mortgage.

Know anyone experiencing mortgage troubles?

2011-10-24T18:24:00.001-07:00

Those of us who bought a home over the past five years or so, had no idea about the kind of economic upheaval that was going to follow. In fact, it appears that no one actually anticipated what was in store.

But here we are. An estimated one fourth of the mortgage holders in the country owe more on their home than its current market value. One out of seven are in some state of default or foreclosure. And possibly the most troubling statistic of all: the vast majority of homeowners who end up foreclosing on their home, do so without ever reaching out for help or attempt a short sale.

As a Certified Distressed Property Expert (CDPE) it is my mission to help homeowners to avoid foreclosure and to get their lives on a positive path. If you or anyone you care about is faced with an unmanageable mortgage, please know that I am here to help. I invite you to visit my website or forward this link http://www.wehelpshortsales.com/ for a copy of my most recent report entitled, "Need a Helping Hand? If your Mortgage and the Market Have Tossed You a Curve, You're Not Alone."

More help is available for financially distressed homeowners than ever before. This is no time to go it alone, and the time to contact me about getting on path toward financial stability is NOW!

Sincerely yours,

Ray and Peggy Pierce
Intero Real Estate Services
(831) 801-2400

CA-DRE # 01116170 - CA-DRE# 01067948

Helping Hand to Local Homeowners Headed Toward Foreclosure

2011-10-03T11:17:00.000-07:00

Ray and Peggy Pierce Offers a Helping Hand to Local Homeowners Headed Toward ForeclosureDistressed property expert urges homeowners struggling with mortgage payments to pursue lower-impact alternatives Hollister, Ca Oct 2011 – “Nationwide, 10.9 million or 22.5 percent of all homeowners with a mortgage owe more on their property than it’s worth in the current market, and another 6.3 million are in some stage of foreclosure,” noted Ray and Peggy Pierce of Intero. An advanced Certified Distressed Property Expert (CDPE), Pierce pointed out that the long-term implications of foreclosure cannot be underestimated, and has developed a report entitled, “Need a Helping Hand?” This report can be accessed from www.wehelpshortsales.com“Too often, the anxiety associated with missed mortgage payments and the fear of putting trust into the wrong hands, causes homeowners who are heading toward foreclosure to avoid seeking help or pursuing a short sale,” Pierce said.A short sale occurs when the current market value of a home is worth less than what is owed on a mortgage and a real estate agent negotiates with the lender on behalf a financially strapped homeowner to accept a loan payoff that is less than the amount owed. “While lenders were once reluctant to negotiate short sales, the current glut of foreclosed properties on their books has prompted an aggressive push to mitigate losses, and some are even paying homeowners significant cash incentives to make a fresh start on their lives after the close of the short sale,” Pierce explained. Real estate agents who have received the Certified Distressed Property Expert (CDPE) designation have proactively sought out the real estate industry’s best training for serving clients within the complicated and highly charged distressed property arena. CDPE agents are required to complete two days of intensive training and are held to a high standard of expertise, efficiency and ethics.For more information about the CDPE Designation, visit www.CDPE.com.Ray and Peggy Pierce have been real estate agents in the San Benito, South Santa Clara, North Monterey and East Santa Cruz areas for over 21 years, Ray and Peggy have advanced CDPE certification and have helped many short sales sellers in the past. You can reach them directly at 1-800-946-5547 free.

Governor Brown signs bill that prevents gouging of condominium/townhome buyers

2011-09-05T09:09:00.001-07:00

LOS ANGELES (Sept. 1) – The CALIFORNIA ASSOCIATION OF REALTORS^®(C.A.R.) applauds Gov. Jerry Brown for signing AB 771, a bill that prevents home buyers in a common interest development (CID), such as a condominium or townhome, from being charged excess document fees.

Homeowner associations (HOAs) are required to provide specific documents to prospective purchasers of homes in a CID -- a form of real estate ownership in which each homeowner has an exclusive interest in a unit and a shared interest in the common area property. In addition to the standard residential property disclosures, purchasers of a unit within a CID must receive basic information about the structure, operation and management of the HOA that operates the CID.

Current law requires that this information come from the HOA and prohibits it from charging fees in excess of what is “reasonable,” not to exceed the actual cost of processing and producing these documents. HOAs generally have provided the documents for approximately $75 to $250. Increasingly, HOAs have been delegating document preparations to third party vendors or contractors who, under a 2007 court decision, are exempt from this fee limitation. This delegation of responsibility by HOAs sometimes resulted in home purchasers being forced to pay additional fees, as much as $1,000, for other documents which were “bundled” with the required documents.

Assembly Bill 771 (Betsy Butler, D-Torrance) addresses this situation by specifying that only fees for the required documents may be charged when such documents are provided, effectively prohibiting any “bundling” of fees for other documents with these fees. The bill also creates a new form detailing which documents are required, and requires the provider to disclose the fees that will be charged for the documents before they are provided. The seller of a CID must complete this form and transmit it to the prospective purchaser along with the required documents. This will eliminate any uncertainty for the prospective purchaser as to exactly which documents are being provided and the precise fees being charged for those documents.

Leading the way...^® in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS^®(www.car.org) is one of the largest state trade organizations in the United States, with more than 160,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

###

Litigation costs mount at BofA, Chase over foreclosure, mortgage issues | LinkedIn

2011-07-21T17:05:00.000-07:00

Litigation costs mount at BofA, Chase over foreclosure, mortgage issues | LinkedIn

California Senate Bill 458

2011-07-19T11:44:00.001-07:00

This changes the second position ability to have recourse if they participate in a short sale in some cases.

Senate Bill No. 458

CHAPTER 82

AnacttoamendSection580eoftheCodeofCivilProcedure,relating tomortgages,anddeclaringtheurgencythereof,totakeeffectimmediately.

[Approved by Governor July 11, 2011. Filed with

Secretary of State July 15, 2011.]

legislativecounsel’sdigest

SB 458, Corbett. Mortgages: deficiencyjudgments.

Existinglawprohibitsadeficiencyjudgmentunderanotesecuredbya

firstdeedoftrustorfirstmortgageforadwellingofnotmorethan4units

inanycaseinwhichthetrustorormortgagorsellsthedwellingforlessthan

theremainingamountoftheindebtednessdueatthetimeofsalewiththe

writtenconsentoftheholderofthefirstdeedoftrustorfirstmortgage.

Existinglawprovidesthatwrittenconsentoftheholderofthefirstdeedof

trustorfirstmortgagetothatsaleshallobligatethatholdertoacceptthe

sale proceeds as full payment and to fully discharge the remaining amount

oftheindebtednessonthefirstdeedoftrustorfirstmortgage.Existinglaw

specifiesthatthoseprovisionswouldnotlimittheabilityoftheholderof

thefirstdeedoftrustorfirstmortgagetoseekdamagesanduseexisting

rightsandremediesagainstthetrustorormortgagororany3rdpartyfor

fraudorwasteifthetrustorormortgagorcommitseitherfraudwithrespect

tothesaleof,orwastewithrespectto,therealpropertythatsecuresthat

deedoftrustormortgage.Existinglawmakestheseprovisionsinapplicable

ifthetrustorormortgagorisacorporationorpoliticalsubdivisionofthe

state.

Thisbillwouldexpandthoseprovisionstoprohibitadeficiencyjudgment

uponanotesecuredsolelybyadeedoftrustormortgageforadwellingof

notmorethan4unitsinanycaseinwhichthetrustorormortgagorsellsthe

dwellingforasalepricelessthantheremainingamountoftheindebtedness

outstandingatthetimeofsale,inaccordancewiththewrittenconsentof

theholderofthedeedoftrustormortgageifthetitlehasbeenvoluntarily

transferredtoabuyerbygrantdeedorbyotherdocumentthathasbeen

recordedandtheproceedsofthesalearetenderedasagreed.Thebillwould

alsoprovidethat,inothercircumstances,whenthenoteisnotsecuredsolely

byadeedoftrustormortgageforadwellingofnotmorethan4units,no

judgmentshallberenderedforanydeficiencyuponanotesecuredbya

deedoftrustormortgageforadwellingofnotmorethan4units,ifthe

trustorormortgagorsellsthedwellingforasalepricelessthantheremaining

amountoftheindebtedness,inaccordancewiththewrittenconsentofthe

holderofthedeedoftrustormortgage. Thebillwouldprovide,following

thesale,inaccordancewiththewrittenconsent,thevoluntarytransferof

Ch. 82

— 2—

titletoabuyer,asspecified,andthetenderofthesaleproceeds,therights, remedies,andobligationsofanyholder,beneficiary, mortgagee,trustor, mortgagor, obligor, obligee, or guarantor of the note, deed of trust, or mortgage,andwithrespecttoanyotherpropertythatsecuresthenote,shall be treated and determined as if the dwelling had been sold through foreclosureunderapowerofsale,asspecified.Thebillwouldprohibitthe holderofanotefromrequiringthetrustor,mortgagor,ormakerofthenote topayanyadditionalcompensation,asidefromtheproceedsofthesale,in exchangeforthewrittenconsenttothesale. Thebillwouldprovidethat theseprovisionsareinapplicableifthetrustorormortgagorisacorporation, limited liability company, limited partnership, or political subdivision of thestate. Theprovisionswouldalsobeinapplicabletoanydeedoftrust, mortgage, or other lien given to secure the payment of bonds or other evidence of indebtedness authorized, or permitted to be issued, by the Commissioner of Corporations, or that is made by a public utility subject tothePublicUtilitiesAct.Thebillwouldprovidethatanypurportedwaiver of these provisions shall be void and against public policy.

Thisbillwoulddeclarethatitistotakeeffectimmediatelyasanurgency statute.

The people of the State of California do enact as follows:

SECTION 1. Section 580e of the Code of Civil Procedure is amended to read:

580e. (a)(1)Nodeficiencyshallbeowedorcollected,andnodeficiency judgmentshallberequestedorrenderedforanydeficiency uponanote secured solely by a deed of trust or mortgage for a dwelling of not more than four units, in any case in which the trustor or mortgagor sells the dwellingforasalepricelessthantheremainingamountoftheindebtedness outstanding at the time of sale, in accordance with the written consent of the holder of the deed of trust or mortgage, provided that both of the following have occurred:

(A) Titlehasbeenvoluntarilytransferredtoabuyerbygrantdeedorby other document of conveyance that has been recorded in the county where all or part of the real property is located.

(B) Theproceedsofthesalehavebeentenderedtothemortgagee, beneficiary, ortheagentofthemortgageeorbeneficiary, inaccordance with the parties’agreement.

(2) Incircumstancesnotdescribedinparagraph(1),whenanoteisnot secured solely by a deed of trust or mortgage for a dwelling of not more thanfourunits,nojudgmentshallberenderedforanydeficiency upona notesecuredbyadeedoftrustormortgageforadwellingofnotmorethan fourunits,ifthetrustorormortgagorsellsthedwellingforasalepriceless than the remaining amount of the indebtedness outstanding at the time of sale, in accordance with the written consent of the holder of the deed of trustormortgage.Followingthesale,inaccordancewiththeholder’swritten

— 3—

Ch. 82

consent, the voluntary transfer of title to a buyer by grant deed or by other documentofconveyancerecordedinthecountywhereallorpartofthereal propertyislocated,andthetendertothemortgagee,beneficiary, orthe agentofthemortgageeorbeneficiaryofthesaleproceeds,asagreed,the rights,remedies,andobligationsofanyholder,beneficiary, mortgagee, trustor, mortgagor, obligor, obligee, or guarantor of the note, deed of trust, or mortgage, and with respect to any other property that secures the note, shall be treated and determined as if the dwelling had been sold through foreclosureunderapowerofsalecontainedinthedeedoftrustormortgage for a price equal to the sale proceeds received by the holder, in the manner contemplated by Section 580d.

(b) Aholderofanoteshallnotrequirethetrustor,mortgagor,ormaker ofthenotetopayanyadditionalcompensation,asidefromtheproceedsof the sale, in exchange for the written consent to the sale.

(c) Ifthetrustorormortgagorcommitseitherfraudwithrespecttothe sale of, or waste with respect to, the real property that secures the deed of trustormortgage,thissectionshallnotlimittheabilityoftheholderofthe deed of trust or mortgage to seek damages and use existing rights and remedies against the trustor or mortgagor or any third party for fraud or waste.

(d) (1) Thissectionshallnotapplyifthetrustorormortgagorisa corporation, limited liability company, limited partnership, or political subdivision of the state.

(2) Thissectionshallnotapplytoanydeedoftrust,mortgage,orother liengiventosecurethepaymentofbondsorotherevidenceofindebtedness authorized,orpermittedtobeissued,bytheCommissionerofCorporations, or that is made by a public utility subject to the Public UtilitiesAct (Part 1 (commencingwithSection201)ofDivision1ofthePublicUtilitiesCode). (e) Anypurportedwaiverofsubdivision(a)or(b)shallbevoidand

against public policy.

SEC.2. Thisactisanurgencystatutenecessaryfortheimmediate

preservationofthepublicpeace,health,orsafetywithinthemeaningof

ArticleIVoftheConstitutionandshallgointoimmediateeffect.Thefacts

constituting the necessity are:

Inordertomitigatetheimpactoftheongoingforeclosurecrisisandto

encouragetheapprovalofshortsalesasanalternativetoforeclosure,itis

necessary that this act take effect immediately.

Home prices Changing in the Silicon Valley Region

2011-06-16T10:12:00.000-07:00

June 15 (Bloomberg) -- A surge in wealth from technology stock sales and initial public offerings is spilling into the Silicon Valley real estate market as newly rich workers bid up home values in suburban cities south of San Francisco.
The median price of single-family houses sold in Palo Alto, home of Facebook Inc., climbed 20 percent in May from a year earlier to $1.63 million, the biggest jump since 2008, according to preliminary figures from research company DataQuick. In Mountain View, the base of LinkedIn Corp., prices rose 3.1 percent to $957,500, the ninth year-over-year gain in 12 months.
The advances are defying a U.S. housing slump that has sent national values to an eight-year low. Share sales such as the IPO of LinkedIn -- which doubled on its first day of trading -- and an expected offering from Facebook will fuel a boom in some Silicon Valley cities into 2013, said Kenneth Rosen, an economist at the University of California, Berkeley.
“It’s just the beginning of the story and I suspect we’ll see an explosion in the next couple years,” Rosen, chairman of the school’s Fisher Center for Real Estate and Urban Economics, said in a telephone interview. “You’ve got young people with real money, and it’s not surprising they want to have a house.”
IPO Filings
Almost 300 companies have filed for IPOs in 2011, the most for any year during the same period since 2000, and more than 10 percent of those are in California, according to data compiled by Bloomberg. Silicon Valley is the U.S. hub for early-stage companies, receiving almost 40 percent of the $23.3 billion in venture-firm investments last year, estimates from the National Venture Capital Association show.
Pandora Media Inc. climbed 8.9 percent today as shares began trading on the New York Stock Exchange. The online radio company, based about 35 miles (56 kilometers) north of Silicon Valley in Oakland, raised $234.9 million in its IPO. Shares were priced at $16, above the expected $10 to $12 range.
The real estate gains in Silicon Valley, located primarily in the San Jose metropolitan area, are mostly occurring in towns where million-dollar values are already the norm. The median price in Cupertino gained 12 percent last month from May 2010 to $1.08 million, and values in Saratoga rose 4.7 percent to $1.62 million, according to San Diego-based DataQuick.
U.S. Price Declines
Housing in much of the rest of the nation is struggling as foreclosures and unemployment of more than 9 percent weigh on consumer sentiment. Home prices in 20 U.S. cities dropped 3.6 percent in March from a year earlier to the lowest since 2003, according to the S&P/Case-Shiller index of property values. The measure has declined 33 percent from its 2006 peak.
In Palo Alto, traffic at home showings has tripled in the last three weeks, with the average age of potential buyers dropping from about 50 to the mid-30s, said Daniel Siciliano, an associate dean at Stanford Law School who attends the tours because he’s in the market for a bigger house.
“People at startups have a lot of pent-up demand and tend to spend a portion of their new liquidity pretty quickly,” Siciliano said of his newfound competition for residential real estate. “They want to manifest their wealth.”
Past Silicon Valley property booms started in Palo Alto, adjacent to the Stanford campus, and Cupertino, home of Apple Inc., because of those institutional links and their coveted public schools, said Stephen Levy, director of the Center for Continuing Study of the California Economy in Palo Alto. Buyers from China have also been drawn by education resources in prestige valley locations and pushed up demand.
‘Happening Place’
“We’re a happening place because of the university and a lot of the folks that have been buying are relatively young,” said Levy, who has viewed downtown condominiums selling for double what he paid in 2005. “We have the best train service to San Francisco. I can be downtown in 35 minutes.”
Sean Scott, head of sales for Redwood City-based software firm Ingenuity Systems Inc., looked at a four-bedroom, two-bath home in Palo Alto last month priced at $1.8 million. The house has “soaring ceilings and generous living spaces,” two patios and a “lush backyard garden,” according to a marketing flyer.
A sale is pending for more than 20 percent above the asking price, or at least $2.2 million, after five bids were received, said Denise Simons, the listing agent at Alain Pinel Realtors.
“The market seems to be returning to the crazy days and the question is whether or not it is a false recovery or a sustained recovery,” Scott said in an e-mail after viewing two more homes at $1.25 million or more, and declining to make any offers. “I suspect that it is a sustained recovery, given the planned liquidity events with social-networking companies.”
Facebook IPO
Speculation that Facebook will go public in the next year is mounting even as the world’s largest social-media site remains silent about its plans. The company may have an IPO in the first quarter of 2012 with a valuation as high as $100 billion, cable channel CNBC reported June 13, citing people familiar with the matter.
Some investors have already cashed in equity in their companies through private share sales, boosting Silicon Valley housing demand and contributing to price gains, Rosen said. Stakes in closely held firms can be sold on secondary exchanges such as SharesPost Inc., which connects buyers and sellers. The exchange values Facebook at almost $53 billion.
Shares granted to employees of public companies can’t be sold until 180 days after the IPO, under U.S. securities rules.
New Millionaires
“You will probably see hundreds, if not thousands, of newly minted millionaires in the next two or three years,” said Steve Eskenazi, a tech investor in Hillsborough, north of Palo Alto, where the minimum lot size is a half acre (0.2 hectare). He sold his portion of an online advertising network to Sunnyvale-based Yahoo! Inc. in 2007.
“Most people in their 20s who find themselves millionaires feel it’s their inalienable right to buy real estate, and they’re typically not price sensitive,” Eskenazi said.
Facebook founder Mark Zuckerberg, 27, bought a house this year in Palo Alto, said Larry Yu, a company spokesman. He declined to disclose details. Zuckerberg paid $7 million for a 5,000-square-foot (465-square-meter), seven-bedroom home in a “leafy and affluent” neighborhood, the San Jose Mercury News reported May 5, without saying where it got the information.
The purchase was made before Facebook’s scheduled move to Menlo Park, just north of Palo Alto.
15 Miles
As more firms go public and workers cash in shares, real estate within 15 miles of the office will climb, said Rosen, who gave a presentation at Google Inc.’s Mountain View headquarters before the company’s 2004 IPO to educate employees on housing. Sales are usually concentrated in the “middle to upper end,” he said.
In Cupertino, about 12 miles from Palo Alto, a three- bedroom home listed for $908,000 got more than a dozen offers and sold for $950,000 on June 8, said Albert Kao, an agent at Giant Realty Inc. in the city. The prior owner, who bought the property in 2002, decided to sell after her children graduated from the public schools. She made a $290,000 profit before commissions, Kao said.
Lower-priced areas are still struggling with weak demand. In all of Santa Clara County, which encompasses some Silicon Valley cities, prices decreased 5.1 percent in May from a year earlier to $498,000 as distressed sales pulled values down in the broader market, DataQuick said in a report today. The drop was smaller than in the rest of the San Francisco Bay area, with the nine-county median in the region tumbling 9.3 percent.
Groupon, Zynga
Groupon Inc., an online coupon provider based in Chicago, filed for an initial share sale June 2 and is hiring engineers in California, according to its website. As early as March, Groupon was in talks with bankers about an IPO that would value the company at as much as $25 billion, two people familiar with the matter said at the time.
Zynga Inc. of San Francisco, the largest maker of games for Facebook and valued at $8.8 billion on SharesPost, may file for an IPO by the end of the month, a person with knowledge of the matter said June 3.
Those firms are among the companies that will help Silicon Valley grow by about 20,000 workers in 2011, said Levy, the California economist. Software publishers and Web portals accounted for 5,600 of the 13,400 jobs added in the year through April in the San Jose metropolitan area, according to the California Employment Development Department.
“We’re at the beginnings of an expansion of the job base,” said Levy. “There will be a lot of hiring.”
Simons, the agent for the four-bedroom Palo Alto home, said there were five “excellent” offers for the 2,257-square-foot residence. It was constructed in 1973 by California developer Joseph Eichler, who built thousands of “progressive” tract houses in middle-class neighborhoods, according to a website devoted to the properties.
“There are people who want to get in and they’re willing to pay,” Simons said outside the home, which was repainted, landscaped and staged with furniture before the public showings. “We’re just starting to see the market come back.”
To contact the reporter on this story: Dan Levy in San Francisco at dlevy13@bloomberg.net
To contact the editor responsible for this story: Kara Wetzel at kwetzel@bloomberg.net
Last Updated: June 15, 2011 18:52 EDT

STOP. DON'T WALK AWAY FROM YOUR MORTGAGE.

2011-03-30T13:49:00.001-07:00

A recent study estimates 36% of Americans think walking away is a viable option when they owe more on their home than what it's worth. Clearly, few know the financial consequences of these actions. Even fewer understand the options available to them.

If you or someone you know is at the crossroads of deciding whether or not to walk away or "strategically default," you'll find nothing strategic about foreclosure, especially when there are solutions to avoid it. Find out more at: www.ray-peggy.com

HAMP update: Foreclosure more likely than modification - FoxBusiness.com

2011-02-11T13:45:00.000-08:00

HAMP update: Foreclosure more likely than modification - FoxBusiness.com

Open floorplan gives a feeling of spaciousness

2011-01-20T14:55:00.000-08:00

This beuty just came back on the market

Close to Christmas Hill Park (692659)

2011-01-07T17:46:00.000-08:00

Close to Christmas Hill Park (692659)

foreclosure Hollister Homes for sale

2011-01-06T15:49:00.001-08:00

FRESH START FOR THOSE WHO'VE LOST HOPE

I wanted to check in and wish you all the best for an outstanding New Year! I hope your holidays went well and you were able to spend some time with friends and family.

Speaking of friends and family, if you found out over the holidays that anyone you know or love is struggling with their mortgage payments, I may be able to help.

As a CDPE, I'm trained to assist homeowners find alternatives to foreclosure, and it would be my pleasure to help anyone you send my way.

For more information on foreclosure alternatives, you can download the free report I've created at:

[insert website address]

I've also enclosed some business cards. Please think of me when you find those who need help in this emotional situation. I can help them breathe a little easier, and restore hope.

Sincerely,

Ray Pierce

Intero Real Estate
rpierce@garlic.com
(831) 801-2400

dre#0116170

SB 931 California Deficiency Judgments After A Short Sale Passed

2010-12-27T14:54:00.001-08:00

Good information to revisit

Senate Bill 931 (SB 931) pertaining to California Short Sale Deficiencies was signed by the Governor on September 30th. Beginning January 1st, 2011 any first mortgages that accept a short sale will not be able to obtain a deficiency judgment against a seller after the completion of a short sale. If a lender provides written consent to a short sale on a first mortgage, they lender must accept the sales proceeds as full payment and discharge the remaining balance due on the loan. The new law will apply to all first mortgage loans secured by one to four residential units, including purchase money, hard money and refinanced loans. The new law does not prevent the lender from seeking damages for fraud or waste by the borrower.

The legislative counsel's summary of the bill follows:

"This bill would prohibit a deficiency judgment under a note secured by a first deed of trust or first mortgage for a dwelling of not more than 4 units in any case in which the (owner) sells the dwelling for less than the remaining amount of the indebtedness due at the time of sale with the written consent of the holder of the first deed of trust or first mortgage. The bill would provide that written consent of the holder of the first deed of trust or first mortgage to that sale shall obligate that holder to accept the sale proceeds as full payment and to fully discharge the remaining amount of the indebtedness on the first deed of trust or first mortgage. "

The new law only applies to mortgages in the first lien position. It is still very important for any borrowers with a second lien to get in writing that any future deficiency rights are waived. While many attorneys believe that if a second mortgage is purchase money, that the seller will be protected under the non-recourse laws, there has not been any definitive case law to reflect this.

Our team has been very successful in negotiating short sales with the majority of the banks out there. It is extremely important for you to have an experience team on your side. Please feel free to contact us with any questions and to review your situation.

ray-peggy.com

Ray and Peggy Pierce

Intero Real Estate Services

Calera Pino Noir Central coast wine San Benito County Cal

2010-12-15T11:06:00.001-08:00

Check this link out if you like good San Benito County Wine

http://spikesvino.com/category/wine-region/united-states/california/central-coast/san-benito-county/

'Underwater' Homes Decline as Foreclosures Rise - WSJ.com

2010-12-15T10:33:00.000-08:00

By NICK TIMIRAOS And S. MITRA KALITA

The number of U.S. homeowners who owe more on their mortgages than their homes are worth fell in the third quarter, but the decline stemmed from banks getting more aggressive on foreclosures, not from home values going up, according to trade-industry data released Monday.
In Deep: Underwater Borrowers

See the percentage of homeowners who have negative equity in their homes or owe more on their mortgages than their homes are worth, by state.

The total of so-called underwater mortgages fell to 10.8 million at the end of September, down from a peak of 11.3 million at the beginning of the year, according to CoreLogic, a real-estate data firm. The latest total accounts for nearly 22.5% of U.S. homeowners with a mortgage.

The drop in underwater mortgages hardly reflects a rebound in the housing sector because home prices didn't rise in the third quarter. Rather, the number of underwater homes declined as banks took back those homes and wiped out the debt through foreclosure.

Home prices, meanwhile, appear to be declining again after tax credits that spurred sales produced modest price gains during the first half of the year.Home values could drop by an estimated $1.7 trillion this year, a 40% increase from a year ago, according to Zillow.com, a real-estate website. Most of the decline is expected in the second half of the year.

The figures underscore how fragile the housing market remains. As home prices fall, more borrowers will sink underwater. Another 5% decline in prices would leave an additional 2.4 million homeowners underwater, according to CoreLogic.

Underwater borrowers pose a serious risk because they are far more likely to default if they lose their jobs or meet other financial shocks. It is difficult for them to refinance and take advantage of low mortgage rates and they are unable to sell their homes unless they cover the shortfall out of savings or convince the bank to sell at a loss in what is known as a short sale.

"It's a giant anchor that's holding back the economy," said Sam Khater, senior economist at CoreLogic. "Until that negative equity recedes, the housing market is not going to recover. It's as simple as that."

How long borrowers will remain underwater largely depends on the future path of home prices.

Even assuming flat prices, roughly half of underwater borrowers are expected to still be underwater after five years, according to a May report by economists at the Federal Reserve Bank of New York. The Fed report estimates one-third of underwater borrowers will return to positive equity within three years just by paying down debt.

Many are finding themselves in the unenviable position of "accidental landlord." Matt Doebler and his wife thought they had bought at the bottom of the market when they paid $217,000 for a bank-owned home with no money down in Chantilly, Va., three years ago.

But Mr. Doebler, who teaches high school English, lost his job months later and has moved his family twice, most recently to Chattanooga, Tenn. He has rented out the two-bedroom condo for $500 less than his monthly payments. He said he hasn't missed any payments on the home, which he said is now worth less than $150,000.

Mr. Doebler, 30 years old, has begun to ask himself whether he has a moral obligation to keep paying for a home that "not only doesn't provide us shelter, but actually makes it almost impossible for us to pay our monthly living expenses," he said.

Economists say borrowers with small amounts of negative equity are likely to keep paying their mortgages absent shocks such as job loss or divorce. But if more underwater homeowners—even those who are able to make monthly mortgage payments—decide it is better to "strategically" default and abandon heavily underwater properties, distressed sales will continue battering hard-hit housing markets and impede the recovery of the overall economy.

Alicia L. Koch's condo in Sacramento, Calif., had been depreciating in value for years, but it wasn't until about six months ago that the 37-year-old single mother decided she'd had enough. She bought the three-bedroom townhouse in 2005 for $230,000 with a $1,000 down payment. It was recently appraised for about $69,000, and she said she stopped making payments in April. She is trying to offload the property in a short sale.

"I realized I could never catch up to what I owe," said Ms. Koch, who works as a program manager in information-technology training. She and her 15-year-old daughter plan to move in with her fiance, who recently bought a newly constructed home nearby.

At current rates, about one in four borrowers who owe between 100% and 120% of their home's value will ultimately default, and half of all borrowers above those levels will go into foreclosure, estimates Laurie Goodman, a senior managing director at Amherst Securities Group LP.

Efforts to modify loans through the Obama administration's Home Affordable Modification Program have largely failed to address negative equity and frequently leave borrowers further underwater, according to a report to be released Tuesday by the Congressional Oversight Panel. Borrowers in the program "have a slim chance of returning to positive equity in the foreseeable future," the report says.

The underwater problem could also weigh on housing markets because homeowners without equity are less likely to act like traditional homeowners and spend money on their homes. While the homeownership rate during the third quarter fell to 66.9%, according to U.S. Census Bureau data, the effective homeownership rate, which excludes underwater homeowners, is just 56.6%, according to CoreLogic.

That problem is particularly acute in boom-to-bust markets such as Las Vegas. The official homeownership rate stood at 58.6%, but after excluding borrowers with negative equity, the rate fell to just 14.7% in August 2009, according to the New York Fed study.

While the homeownership rate has fallen back to 1999 levels, homeowners' equity as a share of household real estate is lower by one third and is below 40% for the first time since World War II.

"It just kind of leaves you wondering what the safety net is for my generation, because it's obviously not our home," Mr. Doebler said.

'Underwater' Homes Decline as Foreclosures Rise - WSJ.com

Local Agent Releases New Report for Homeowners Seeking to Avoid Foreclosure

2010-12-14T13:11:00.001-08:00

Online report outlines foreclosure alternatives for homeowners struggling to make mortgage payments in Hollister, San Benito County area.

Hollister, CA. –12/14/2010 – Local CDPE-designated agent, Ray and Peggy Pierce of Intero Real Estate Services have developed a website providing information describing several opportunities for homeowners to avoid the negative financial impact of foreclosure, starting with mortgage modification.

This community resource is available at www.ray-peggy.com and defines foreclosure alternatives, including short sales, loan modifications and forbearance.

“The holidays are a time of joy and family, but for many in Hollister and the San Benito County area this is also a time of increased financial strain,” Pierce said. “With this report, we are helping homeowners in our community learn more about their options so they can have hope to carry them through the holidays.”

Foreclosure alternatives such as mortgage modifications and short sales—both processes the federal government and trade organizations are pushing to be streamlined—have become prime solutions for both struggling homeowners and lenders to find common ground in this challenging housing environment.

“At this time of year, distressed homeowners are easily overwhelmed by finances, obligations and the added stress of the holidays,” Pierce said. “The best course of action for homeowners looking for options is to gather more information. The report available on our site is a strong first step.”

The CDPE Designation the Pierce’s have acquired provides real estate professionals with specific understanding of the complex issues confronting distressed homeowners. Through comprehensive training and experience, CDPE-designated agents are able to provide solutions for homeowners facing financial hardship in today’s market.

To learn more, visit www.ray-peggy.com

For more information, please contact: Ray or Peggy Pierce

1-831-801-2400

1-831-801-0835

rpierce@garlic.com

final voting results for San Benito County CAlifornia as posted from county site

2010-12-06T09:44:00.001-08:00

Note: This is the final official results.

Last Updated: November 23, 2010 10:33 AM

Registration & Turnout

25,352 Voters

	Vote Count	Percent
Precinct Totals Turnout	8,763	34.57%
Absentee Totals Turnout	7,657	30.20%
Total	16,420	64.77%

GOVERNOR

55/55 100.00%

	Vote Count	Percent
DEM - JERRY BROWN	8,304	51.32%
REP - MEG WHITMAN	6,993	43.22%
AIP - CHELENE NIGHTINGALE	253	1.56%
GRN - LAURA WELLS	214	1.32%
P&F - CARLOS ALVAREZ	183	1.13%
LIB - DALE F. OGDEN	170	1.05%
WRITE-IN	64	0.40%
Total	16,181	100.00%

Lieutenant Governor

55/55 100.00%

	Vote Count	Percent
DEM - GAVIN NEWSOM	7,308	45.99%
REP - ABEL MALDONADO	7,032	44.25%
LIB - PAMELA J. BROWN	940	5.91%
AIP - JIM KING	223	1.40%
GRN - JAMES ''JIMI'' CASTILLO	196	1.23%
P&F - C.T. WEBER	125	0.79%
WRITE-IN	68	0.43%
Total	15,892	100.00%

Secretary of State

55/55 100.00%

	Vote Count	Percent
DEM - DEBRA BOWEN	7,804	50.37%
REP - DAMON DUNN	5,969	38.53%
P&F - MARYLOU CABRAL	507	3.27%
GRN - ANN MENASCHE	491	3.17%
AIP - MERTON D. SHORT	366	2.36%
LIB - CHRISTINA TOBIN	316	2.04%
WRITE-IN	39	0.25%
Total	15,492	100.00%

State Controller

55/55 100.00%

	Vote Count	Percent
DEM - JOHN CHIANG	7,964	51.35%
REP - TONY STRICKLAND	5,880	37.91%
LIB - ANDREW ''ANDY'' FAVOR	588	3.79%
P&F - KAREN MARTINEZ	489	3.15%
GRN - ROSS D. FRANKEL	304	1.96%
AIP - LAWRENCE G. BELIZ	260	1.68%
WRITE-IN	25	0.16%
Total	15,510	100.00%

State Treasurer

55/55 100.00%

	Vote Count	Percent
DEM - BILL LOCKYER	8,727	56.27%
REP - MIMI WALTERS	5,731	36.95%
GRN - CHARLES ''KIT'' CRITTENDEN	328	2.11%
LIB - EDWARD M. TEYSSIER	297	1.91%
AIP - ROBERT LAUTEN	213	1.37%
P&F - DEBRA L. REIGER	184	1.19%
WRITE-IN	30	0.19%
Total	15,510	100.00%

Attorney General

55/55 100.00%

	Vote Count	Percent
DEM - KAMALA D. HARRIS	7,148	46.24%
REP - STEVE COOLEY	6,854	44.33%
GRN - PETER ALLEN	508	3.29%
LIB - TIMOTHY J. HANNAN	367	2.37%
P&F - ROBERT J. EVANS	299	1.93%
AIP - DIANE BEALL TEMPLIN	249	1.61%
WRITE-IN	35	0.23%
Total	15,460	100.00%

Insurance Commissioner

55/55 100.00%

	Vote Count	Percent
DEM - DAVE JONES	7,190	47.30%
REP - MIKE VILLINES	5,905	38.85%
P&F - DINA JOSEPHINE PADILLA	695	4.57%
LIB - RICHARD S. BRONSTEIN	591	3.89%
GRN - WILLIAM BALDERSTON	414	2.72%
AIP - CLAY PEDERSEN	371	2.44%
WRITE-IN	35	0.23%
Total	15,201	100.00%

State Board of Equalization, 1st DISTRICT

55/55 100.00%

	Vote Count	Percent
DEM - BETTY T. YEE	7,462	49.82%
REP - KEVIN R. SCOTT	6,626	44.24%
LIB - KENNITA WATSON	498	3.32%
P&F - SHERILL BORG	351	2.34%
WRITE-IN	42	0.28%
Total	14,979	100.00%

U.S. SENATOR

55/55 100.00%

	Vote Count	Percent
DEM - BARBARA BOXER	7,909	49.55%
REP - CARLY FIORINA	6,977	43.71%
LIB - GAIL K. LIGHTFOOT	337	2.11%
P&F - MARSHA FEINLAND	307	1.92%
AIP - EDWARD C. NOONAN	215	1.35%
GRN - DUANE ROBERTS	191	1.20%
WRITE-IN	26	0.16%
Total	15,962	100.00%

U.S. REPRESENTATIVE, 17th DISTRICT

55/55 100.00%

	Vote Count	Percent
DEM - SAM FARR	8,890	56.40%
REP - JEFF TAYLOR	6,295	39.94%
LIB - MARY V. LARKIN	284	1.80%
GRN - ERIC PETERSEN	252	1.60%
WRITE-IN	41	0.26%
Total	15,762	100.00%

STATE SENATOR 12th DISTRICT

55/55 100.00%

	Vote Count	Percent
REP - ANTHONY CANNELLA	7,980	51.05%
DEM - ANNA CABALLERO	7,585	48.53%
WRITE-IN	66	0.42%
Total	15,631	100.00%

MEMBER OF THE STATE ASSEMBLY 28th DISTRICT

55/55 100.00%

	Vote Count	Percent
DEM - LUIS ALEJO	8,069	52.77%
REP - ROBERT BERNOSKY	7,178	46.94%
WRITE-IN	44	0.29%
Total	15,291	100.00%

Chief Justice of the Supreme Court-CANTIL-SAKAUYE

55/55 100.00%

	Vote Count	Percent
YES	7,655	66.07%
NO	3,931	33.93%
Total	11,586	100.00%

Associate Justice of the Supreme Court-CHIN

55/55 100.00%

	Vote Count	Percent
YES	7,385	64.13%
NO	4,130	35.87%
Total	11,515	100.00%

Associate Justice of the Supreme Court-MORENO

55/55 100.00%

	Vote Count	Percent
YES	7,797	67.50%
NO	3,754	32.50%
Total	11,551	100.00%

Presiding Justice COA, 6th Appellate Dist-RUSHING

55/55 100.00%

	Vote Count	Percent
YES	7,975	69.75%
NO	3,458	30.25%
Total	11,433	100.00%

Sup of Public Instruction

55/55 100.00%

	Vote Count	Percent
NP - LARRY ACEVES	6,797	50.73%
NP - TOM TORLAKSON	6,417	47.90%
WRITE-IN	184	1.37%
Total	13,398	100.00%

GAVILAN JT COMM COLLEGE DIST Gov Brd Mbr Trus 1

50/50 100.00%

	Vote Count	Percent
NP - WALTER A. GLINES	6,095	51.86%
NP - ELEANOR S. VILLARREAL	5,506	46.85%
WRITE-IN	152	1.29%
Total	11,753	100.00%

GAVILAN JT COMM COLLEGE DIST Gov Brd Mbr Trus 3

50/50 100.00%

	Vote Count	Percent
NP - KENT L. CHILD	6,127	33.36%
NP - TONY RUIZ	5,804	31.60%
NP - ELVIRA ZARAGOZA ROBINSON	3,791	20.64%
NP - STELVIO LOCCI	2,530	13.78%
WRITE-IN	113	0.62%
Total	18,365	100.00%

AROMAS-SAN JUAN UNIFIED SCHOOL DIST, 4 yr. term

10/10 100.00%

	Vote Count	Percent
NP - MAGDALENA MEDINA	998	40.72%
NP - JEFFREY HOWARD HANCOCK	836	34.11%
NP - LOU FIORI	602	24.56%
WRITE-IN	15	0.61%
Total	2,451	100.00%

AROMAS-SAN JUAN UNIFIED SCHOOL DIST, 2 yr. term

10/10 100.00%

	Vote Count	Percent
NP - BILL HUNTER	652	40.05%
NP - TAMMY SPRINGER	489	30.04%
NP - PATRICIA RAINEY	464	28.50%
WRITE-IN	23	1.41%
Total	1,628	100.00%

SAN BENITO JT UNION HIGH SCH DIST Gov Brd Member

42/42 100.00%

	Vote Count	Percent
NP - TIM SHELLITO	6,430	24.98%
NP - BILL TIFFANY	6,300	24.48%
NP - MARY ENCINIAS	4,907	19.07%
NP - STEVE DE LAY	4,426	17.20%
NP - GUILLE REYNOSO	3,589	13.94%
WRITE-IN	86	0.33%
Total	25,738	100.00%

HOLLISTER SCHOOL DISTRICT Gov Brd Member

30/30 100.00%

	Vote Count	Percent
NP - MICHAL QUERY	3,560	17.24%
NP - JOE NAVARRO	3,344	16.19%
NP - ELSA A. RODRIGUEZ	3,055	14.79%
NP - DAVID REDMAN	2,716	13.15%
NP - CHUCK SPANDRI	2,141	10.37%
NP - ELIZABETH SIMS	2,020	9.78%
NP - BEA GONZALES-RAMIREZ	1,949	9.44%
NP - LUPE C. NAVARRO	1,787	8.65%
WRITE-IN	77	0.37%
Total	20,649	100.00%

SOUTHSIDE SCHOOL DISTRICT Gov Brd Member

2/2 100.00%

	Vote Count	Percent
NP - BOB TIFFANY	607	38.79%
NP - SCOTT A. GILBERT	363	23.19%
NP - JEANNE LIEM	348	22.24%
NP - WALLACE JONES	245	15.65%
WRITE-IN	2	0.13%
Total	1,565	100.00%

WILLOW GROVE UNION SCHOOL DIST Gov Brd Member

1/1 100.00%

	Vote Count	Percent
NP - CAROLE GREENWALD-ALDRICH	92	40.53%
NP - JOE VAN ORDER	86	37.89%
NP - SANDY PATTERSON	44	19.38%
WRITE-IN	5	2.20%
Total	227	100.00%

SUPERVISOR, 4th DISTRICT

17/17 100.00%

	Vote Count	Percent
NP - JERRY MUENZER	2,200	51.17%
NP - PHIL FORTINO	2,085	48.50%
WRITE-IN	14	0.33%
Total	4,299	100.00%

SHERIFF/CORONER

55/55 100.00%

	Vote Count	Percent
NP - DARREN THOMPSON	8,783	57.12%
NP - PAT TURTURICI	6,524	42.43%
WRITE-IN	69	0.45%
Total	15,376	100.00%

SAN JUAN BAUTISTA City Council Member

1/1 100.00%

	Vote Count	Percent
NP - TONY BOCH	371	30.69%
NP - JOLENE COSIO	363	30.02%
NP - ANDY MOORE	300	24.81%
NP - JEFFREY BAGLEY	164	13.56%
WRITE-IN	11	0.91%
Total	1,209	100.00%

HOLLISTER City Council Member, District 2

4/4 100.00%

	Vote Count	Percent
NP - ROBERT D. SCATTINI	406	36.15%
NP - SERGIO MONTANEZ	392	34.91%
NP - ESTEVAN GUZMAN	318	28.32%
WRITE-IN	7	0.62%
Total	1,123	100.00%

HOLLISTER City Council Member, District 3

3/3 100.00%

	Vote Count	Percent
NP - PAULINE VALDIVIA	999	69.23%
NP - SCOTT MC PHAIL	435	30.15%
WRITE-IN	9	0.62%
Total	1,443	100.00%

AROMAS WATER DISTRICT Director

3/3 100.00%

	Vote Count	Percent
NP - BONNIE MAHLER	241	27.32%
NP - SYLVIA J. BORCHARD	231	26.19%
NP - STUART CARDOTT	204	23.13%
NP - MARCUS V. DUTRA	203	23.02%
WRITE-IN	3	0.34%
Total	882	100.00%

Proposition 19

55/55 100.00%

	Vote Count	Percent
NO	8,320	52.04%
YES	7,669	47.96%
Total	15,989	100.00%

Proposition 20

55/55 100.00%

	Vote Count	Percent
YES	8,963	59.13%
NO	6,196	40.87%
Total	15,159	100.00%

Proposition 21

55/55 100.00%

	Vote Count	Percent
NO	8,669	54.83%
YES	7,143	45.17%
Total	15,812	100.00%

Proposition 22

55/55 100.00%

	Vote Count	Percent
YES	10,224	66.40%
NO	5,174	33.60%
Total	15,398	100.00%

Proposition 23

55/55 100.00%

	Vote Count	Percent
NO	9,107	58.63%
YES	6,426	41.37%
Total	15,533	100.00%

Proposition 24

55/55 100.00%

	Vote Count	Percent
NO	8,934	58.90%
YES	6,233	41.10%
Total	15,167	100.00%

Proposition 25

55/55 100.00%

	Vote Count	Percent
YES	8,635	56.38%
NO	6,680	43.62%
Total	15,315	100.00%

Proposition 26

55/55 100.00%

	Vote Count	Percent
YES	8,014	53.44%
NO	6,982	46.56%
Total	14,996	100.00%

Proposition 27

55/55 100.00%

	Vote Count	Percent
NO	8,089	54.76%
YES	6,684	45.24%
Total	14,773	100.00%

Measure Z

10/10 100.00%

	Vote Count	Percent
YES	1,214	61.01%
NO	776	38.99%
Total	1,990	100.00%

Measure E

1/1 100.00%

	Vote Count	Percent
NO	1	100.00%
YES	0	0.00%
Total	1	100.00%

Tracking the economy

2010-12-06T09:26:00.001-08:00

WASHINGTON — Federal Reserve Chairman Ben Bernanke is stepping up his defense of the Fed's $600 billion Treasury bond-purchase plan, saying the economy is still struggling to become "self-sustaining" without government help.

In a taped interview with CBS' "60 Minutes" that aired Sunday night, Bernanke also argued that Congress shouldn't cut spending or boost taxes given how fragile the economy remains.

A DRAG? Economy is making steady gains despite unemployment

RECOVERY WATCH: Tracking the economy

JOBS OUTLOOK: Latest data for all states, 384 metros

The Fed chairman said he thinks another recession is unlikely. But he warned that the economy could suffer a slowdown if persistently high unemployment dampens consumer spending.

When asked whether the recovery is self-sustaining, Bernanke responded: "It may not be. It's very close to the border."

Given the economy's still-weak growth, he said: "We're not very far from the level where the economy is not self-sustaining."

The interview is part of a broad counteroffensive Bernanke has been waging against critics of the bond purchase plan the Fed announced Nov. 3. The purchases are intended to lower long-term interest rates, lift stock prices and encourage more spending to boost the economy.

Critics, from Republicans in Congress to some officials within the Fed, say they fear the Fed's intervention could spur inflation and speculative buying on Wall Street while doing little to help the economy.

On other issues in the "60 Minutes" interview, Bernanke:

• Urged Congress to simplify the nation's tax code "by closing loopholes and lowering rates" for individuals and companies. He said doing so would create greater incentives for investment.

• Argued that unemployment would have been far higher — "something ...
http://rssfeeds.usatoday.com/~r/UsatodaycomWashington-TopStories/~3/lmoMOZn3WzU/2010-12-06-bernanke-interview_N.htm
Shared using News360 for the iPhone. Learn more at http://www.news360.net

http://www.rayandpeggy.com

Foreclosures drop as market shows more stability

2010-11-23T09:47:00.001-08:00

Foreclosures drop as market shows more stability

Nov 22, 2010
By Connor Ramey






		Photo by: Free Lance file photo

The foreclosure rate in San Benito County has fallen nearly 18 percent in the past two months' figures and nearly 44 percent from this time last year, according to the most recent report released by RealtyTrac.

A total of 114 homes were in some stage of foreclosure in October, including 49 homes that were issued a notice of default, according to RealtyTrac, an online marketplace of foreclosure properties, with more than 1.5 million listed properties. The numbers are a dramatic decrease from last year's 203 foreclosure-related reports.

The county now has a foreclosure in 1 out of every 156 homes, according to RealtyTrac.

Overall, the county's foreclosure rate is trending down, according to RealtyTrac numbers. Statewide, foreclosures decreased by nearly 4.5 percent from September and less than .05 percent from this time last year.

The county is now ranked 19th worst in the state for foreclosures. In September of 2008, the county was second worst in the state with 256 homes in some stage of foreclosure.

Realtor Ray Pierce thinks the drop in "end-of-the-year" foreclosures is because the banks want to give homeowners a break for the holiday season.

"I think the banks just wanted to give everyone a breather for the holiday period," Pierce said. "I just don't think the banks want to see a picture in the newspaper of a family losing its home with a Christmas tree in it. I think that has a lot to do with it."

Pierce expects the numbers to rise once again after the holiday season but only slightly, he said.

"The numbers are staring to show some stability," he said "But it all depends on jobs."

For the full story, see the Free Lance on Tuesday.

see the story on line......

http://www.freelancenews.com/news/270620-foreclosures-drop-as-market-shows-more-stability

Hollister Downtown Association Hollister, CA

2010-11-22T12:01:00.001-08:00

Hi everyone!

We are still in need of volunteers for our upcoming Lights on Celebration Parade.

Please call Cathy Buck at 637-4670, if you or anyone you know would be willing to help us out.

Thank you for your consideration!

Brenda Weatherly

Executive Director

Hollister Downtown Association

455 San Benito Street, Suite 21

Hollister, CA 95023

(831)636-8406

WEBSITE: http://www.downtownhollister.org

Mortgage Foreclosure Scams Target Of New Enforcement Efforts

2010-11-22T10:32:00.001-08:00

Mortgage Foreclosure Scams Target Of New Enforcement Efforts | Indiana's NewsCenter: News, Sports, Weather, Fort Wayne WPTA-TV, WISE-TV, CW, and My Network | Local

http://t.co/TaB60Cz

The Art of Teaching - In Tough Times, a Thank You to Teachers Everywhere

2010-11-15T11:21:00.001-08:00

The Art of Teaching - In Tough Times, a Thank You to Teachers Everywhere

http://huff.to/9IlPTF

Energy is the next bubble

2010-11-06T14:33:00.001-07:00

“Energy is the next bubble.”

Hollister Downtown Coming events Hollister Homes for sale

2010-11-02T16:02:00.001-07:00

Don't forget...remember a Vet...

Veterans' Day Ceremony
Veterans' Memorial Building at 11:11am

VFW Post 9242 BBQ
Veterans' Building at 12:00 pm

Veterans' Day Parade

November 11, 2010 at 1:30 pm

Lights On
Celebration

November 27, 2010

Parade steps off at 5:30 pm

Applications due
Friday, November 12th

Click here to read

Jamie the Elf

by Kathleen Sheridan

Sock Monkeys

in the Wild

Artist Reception

December 1, 2010

5:30 to 8:00 pm

727 San Benito St

Featuring:
Over 40 sock monkey paintings by Shannon Grissom
and much, much, more!

Bring your sock monkey and share your story!

Membership Renewal 2011

Just a reminder to think about your membeship with the HDA during your 2011 budgeting process.

Invoices will be sent out December 1st.

hollister downtown events

The price of greatness is responsibility

2010-11-01T11:23:00.001-07:00

The price of greatness is responsibility.

CIAS Certified Investor Agent Specialist Hollister Homes for sale

2010-10-30T18:52:00.001-07:00

We just received the CIAS Designation to help individuals build wealth through investing in real estate. Did you know there are Five Investor Types: First-Time, Move-Up, Portfolio, Performance, and Rehab and Resell...Which one are you?

. http://fb.me/AN5J3lw0

Hollister Homes for sale San Benito County Stats

2010-10-18T10:29:00.001-07:00

The market at a glance

209 active listings, 70 are tagged as short sale listings and 29 are tagged as REO or bank owned properties.

186 listings are pendings 114 of those are tagged short sale and 41 as REO

Last week 7 sold 1 was an REO and 3 were Short sales.

if you are looking for help in you real estate call us.

referrals are welcome.

Ray & Peggy Pierce

Intero Real Estate

Hollister Homes for sale

www.ray-peggy.com

www.rayandpeggy.com

www.hollisterhomesvalues.com

foreclosure assistance

2010-10-13T15:52:00.001-07:00

http://goo.gl/TYBc

san benito county stats

2010-10-13T11:09:00.001-07:00

10/11/2010
Actives	206	206
short	65	96
REO	31	47%



SOLD	3	3
Shorts	2	2
REO	0	67%



PENDINGS	185	185
Shorts	116	155
REO	39	84%

Total actives 206 up a little from last week

Solds short sales dominated the market

Pendings are up Short sales again are dominating the market.

Hope all is well with you and yours,

Ray Pierce

Intero

www.ray-peggy.com

Have an excellent weekend-Hollister home for 4 sale

2010-10-08T16:29:00.001-07:00

As Bill and Ted would say "Have an EXCELLENT weekend"

Hollister home for 4 sale

real estate

2010-10-06T14:38:00.001-07:00

Remove

Ray & Peggy Pierce-Hollister CA Homes for sale check out the new real estate tab up above for more real estate information.

Hollister homes for sale

Check out the new real estate tab on facebook! Cheers!

Determining intent for a 1031 Exchange

2010-10-04T19:25:00.001-07:00

Determining intent for a 1031 Exchange: How the IRS reads minds

Most owners of real estate will tell you that if they bought a property for $75,000 and sold it a month later for $100,000, that it was a great investment. If they deferred paying the capital gain tax on their sale by utilizing a 1031 exchange, well they are not just a great investor, but a genius to boot. Unfortunately, that is exactly what the IRS may determine: that the capital gain tax our investor tried to defer is just that, “boot”, and our investor will not just pay capital gain tax of 15%, our investor will pay short term capital gain tax, as the asset was held for less than a year.

So, what then should an investor do so that the sale of property
qualifies for 1031 treatment?

The intent by the taxpayer to hold property “primarily for sale” and not “primarily for investment” will prevent the property from qualifying for IRC 1031 treatment. While in general, most properties owned by developers, builders and people looking to fix up and re-sell will probably be considered to be held primarily for sale and may not be allowed tax deferral treatment, the IRS looks to the intent of the taxpayer in determining whether the property qualifies for tax deferral treatment. In determining the Exchanger’s intent, the IRS will look at the intent at the time of the sale. At the time of disposition of the property, the Exchanger must be determined to have intended to hold the property for investment or use in the Exchanger’s trade or business. Three factors that the IRS will look at that can determine whether the taxpayer’s property was “held for sale” and does not qualify for tax deferral exchange treatment are:

The frequency and number of real estate transactions entered into by the taxpayer.

The more property sales by the Exchanger, the more likely IRS will find that the property is “held for sale” and does not qualify for exchange treatment. The best example of this is the Investor who buys foreclosed/distressed properties, fixes them up and then immediately attempts to “flip” for a quick profit.

2. The development activity of the taxpayer such as subdividing, grading and
improving property.

This looks at the taxpayer’s development activities, such as subdividing the property, adding streets, roads, sewers, utility services, rezoning and renovating the property. In these situations, the IRS is looking at the extent that the gain on the sale of the property was attributable to the taxpayer’s own efforts to the property as opposed to a gain due to external factors. Note that simply subdividing a property will not necessarily prevent a taxpayer from receiving exchange treatment on the disposition of the property.

3. The nature and extent of efforts by the taxpayer to sell the property.

This is the sales efforts of the taxpayer. This includes advertising efforts, use of sales personnel, a sales office to sell individual lots in a subdivision, was the property multi listed with a broker. The IRS will look at the proportion of the Exchanger’s income that is derived from the sale of the property, and the extent of the taxpayer’s involvement, time effort and control over the sales activities regarding the property.

As you may have noticed, the time factor alone (how long the property was held by the taxpayer prior to sale) is not what determines intent. Exchangers are always advised to consult with their tax and legal advisors regarding the exchange status of a property prior to selling their property.

thanks go out to Ron Ricard

time for the weekly stats San Benito County California

2010-09-21T11:25:00.001-07:00

9/20/2010
Actives	201	201
short	70	104
REO	34	52%



SOLD	12	12
Shorts	1	4
REO	3	33%



PENDINGS	185	185
Shorts	112	154
REO	42	83%

If you need any information about Homes for sale in Hollister please call 831-801-2400

Ray & Peggy Pierce

Intero Real Estate

#01116170 #01067948

Real Estate Department warns of rise in short sale fraud

2010-09-15T09:17:00.001-07:00

The very reason Ray and I have been certified with Distressed Property Sales. http://fb.me/wqOtFMyH

weekly stats San Benito County

2010-09-14T13:47:00.001-07:00

9/13/2010
Actives	193	193
short	68	98
REO	30	51%



SOLD	7	8
Shorts	2	3
REO	1	38%



PENDINGS	193	193
Shorts	115	156
REO	41	81%

Actives have dropped just a little compared to last week

REO actives have dropped a little and shorts sale have increased

Solds have remained the same but preforeclosures and REO have dropped by 25% in the last week.

Pending---are up and reo/short sales are up within pendings

It is still a buyers market but pricings are fairly firm

If Peggy and I can help you with any questions about foreclosures in this tri county area

go to

http://www.ray-peggy.com

Ray and Peggy Pierce

#01116170

Intero Real Estate

FHA refinance of Borrowers in Negative Equity Positions

2010-09-07T10:28:00.001-07:00

If you have an FHA loan this might help, certain guidelines exist read below to get the gist.

In an effort to help homeowners who owe more on their homes than they’re currently worth, the government will initiate its “short refinance” program on Tuesday, September 7, 2010.

According to an August 6 Mortgagee Letter released by HUD (click here to download the entire letter), the program will allow “borrowers who are current on their mortgage to qualify for an FHA refinance loan provided that the lender or investor writes off the unpaid principal balance of the original first lien mortgage by at least 10 percent.”

While lender consent is required and program participation voluntary, the FHA has stated the program could modify between 500,000 and 1.5 million upside-down mortgages.

Following are a few of the eligibility requirements detailed in the Mortgagee Letter:

Homeowner must have negative equity, be current on the existing mortgage, and have a FICO score greater than or equal to 500
It must be for the homeowner’s primary residence
Existing loan can’t be FHA-insured
First lien holder must write off at least 10 percent of the unpaid principal balance
Refinanced mortgage must have a loan-to-value ratio (LTV) no greater than 97.75 percent
Second liens must be re-subordinated so the new loan does not exceed a combined LTV of 115 percent

Because of this last requirement, this program may have difficulty when confronted with situations involving second lien holders.

reposted from the CDPE Blog, thanks for the information.

Ray and Peggy Pierce

Intero Real Estate

#01116170

http://www.ray-peggy.com

http://www.rayandpeggy.com

1-800-946-5547 if you need help with any of your real estate needs call or visit the web site for more information.

San Benito County Stats

2010-09-05T17:16:00.001-07:00

Stats are a little early this week because of Labor Day...

Total Number of Active listings this week

198 down from last week

Solds ahve doubled since last week

Eight solds- 63% are shorts sales or REO's

Pendings are 190

that is down from 196 last week

34 of those are REO or Bank owned

117 are Short sales

or a total of 79% of all pendings

When ever you or a friend are looking for some one to help you with your real estate needs please keep us in mind.

Ray and Peggy Pierce

Intero Real Estate Servives

1-800-946-5547

#01116170 #01067948

www.rayandpeggy.com

www.ray-peggy.com

Legislative Update: California SB1316 is Dead

2010-08-31T18:06:00.001-07:00

Legislative Update: California SB1316 is Dead

If you or your clients are contemplating an exchange of California real estate for non-California property, you will be pleased to know that California Senate Bill 1316 has just been laid to rest. SB1316 proposed to deny IRC Section 1031 tax-deferral treatment, at the California state income tax level, to like-kind exchanges in which the relinquished property was located in California, but the replacement property was located in another state. Had the legislation passed, a taxpayer who swapped California property for real estate in Montana would have been able to defer the Federal capital gains tax, but would have had to pay the California state tax on the gain from the sale of the California property. The proposed legislation would not have affected exchanges in which all properties were located in California.

IPX1031^® worked with the Federation of Exchange Accommodators, the industry association for Qualified Intermediaries, to oppose SB1316. We pointed out to the legislative sponsors that the economic and constitutional problems with the bill would negate any anticipated increase in tax revenues, resulting in no net benefit to the State of California. Similar legislative proposals have been raised and dropped in several other states for the same reasons.

IPX1031^® is pleased to be a resource to our customers, providing current information regarding §1031 exchanges, and the highest quality of tax-deferred exchange services. Please call us if we may be of service.

Thanks to Ron Richard for this retweet

If we can help you with with any Real Estate related Service please feel free to call..

Ray Pierce,e-PRO, CDPE, SFR

Intero Real Estate Services

800 San Benito Street

Hollister, CA. 95023

831-635-6735 office

831-637-0521 Direct

831-801-2400 Cell

831-603-5892 e-Fax

DRE License #01116170

http://www.rayandpeggy.com

http://www.ray-peggy.com

P Please consider the environment before printing this email.

Weekly Stats San Benito County Ca.

2010-08-30T16:14:00.001-07:00

Acxtive listing are up this week to 203 that is 8 higher than last week.

There are 4 SOLD litings for the week and 3 of them were regular sales 1 was and REO or bank owned property.

Pendings are down to 196 that 24 less than last week.off the pendings 117 are Short sales and 37 are REO's

Have a great day and hello from our little piece of paradise called Hollister, California.

Ray Pierce

Intero Real Estate

#01116170

Delinquencies and Foreclosure Starts Decrease in Latest MBA National Delinquency Survey

2010-08-28T14:57:00.000-07:00

Delinquencies and Foreclosure Starts Decrease in Latest MBA National Delinquency Survey

2010-08-28T14:26:00.001-07:00

"To speak gratitude is courteous and pleasant, to enact gratitude is generous and noble, but to live gratitude is to touch Heaven." Johannes

San Benito County Stats

2010-08-23T12:06:00.001-07:00

The san benito county stats at the beginning of this week 8-23-2010

195 Active listings

32 of them are REO or Bank owned, quite a drop

67 of them are Short sale tagged

197 Pending houses

32 of those are REO

121 of them are Short sales

Since the first of the month 15 Solds

8 of those are REO

2 are Short sales

If you would like more information or to search for houses go to:

www.rayandpeggy.com

or just call us 831-801-0835

Ray and Peggy Pierce

01116170 0167948

New report pre-foreclosure, foreclosure

2010-08-19T13:47:00.001-07:00

With more than one in seven mortgages currently not being paid, the financial crisis is affecting millions of homeowners across the country. Some are considering bankruptcy as an option to foreclosure, but there may be options to avoid both. Conducting a short sale can alleviate the stress of an unaffordable mortgage and provide breathing room to restructure finances.

As a CDPE-designated agent, I have specialized training in the financial hardships homeowners are facing today. I've created a free report to provide information on your options and answer questions you may have. To download this report, visit my website:

http://www.ray-peggy.com/

I am providing this information free of charge, because not having it could come at a great price.

I'm here to help, so don't hesitate to contact me.

Ray

San Benito County

2010-08-18T11:29:00.001-07:00

Inventory is climbing, rates are down. Overall refi's are up

nathan2077

2010-08-11T10:25:00.001-07:00

quoted from nathan2077

I might live in a space like this: http://bit.ly/bVB7w7 (via @rayandpeggy) #fb

Foreclosure trends San Benito County

2010-08-11T10:17:00.001-07:00

Did some foreclosure trend lines for San Benito County this morning

The 6 month line shows foreclosures decreasing and short sales increasing in San Benito County

New information from the web site

2010-08-10T16:09:00.001-07:00

As a CDPE-designated agent, Peggy and I have specialized training in the financial hardships homeowners are facing today. I've created a free report to provide information on your options and answer questions you may have. To download this report, visit my website:

http://www.ray-peggy.com

We’re providing this information free of charge, because not having it could come at a great price.

If you know a friend or family member this information would help please pass this information along.

As always we’re here to help, so don't hesitate to contact us directly.

Ray and Peggy Pierce

Intero Real Estate Services

(831) 801-2400

CA-DRE # 01116170 - CA-DRE# 01067948

government agency directory search

2010-08-09T16:45:00.001-07:00

Searching for government agencies in CAlifornia just got easier.

Some have e-mail, RSS feeds, or twetter and facebook sites check this out.

Peggy and I try to help call us if we can help you or your friends with any real estate needs.

government agency directory

http://www.ca.gov/CaSearch/Agencies.aspx

Housing Inventory still on the rise this week

2010-08-09T15:01:00.001-07:00

Housing Inventory still on the rise this week in San Benito County.

Help line opened

2010-08-06T14:48:00.001-07:00

Ray and Peggy Pierce with Intero Real Estate open their phone up to help people in the Hollister, San Benito county area pre-foreclosure to answer question within their real estate licensing. 831-637-0521

Inventory is rising

2010-08-05T11:01:00.001-07:00

In San Benito County Short sales are increasing over Bank owned resales and now the inventory is rising. Pendings and inventory are close to meeting Actives are at 181 and pendings are at 185.

Last month there were 51 Closed sales, 25 were REO or Bank owned, 10 were short sales the rest were normal sales which are also rising.

Call if we can help with your real estate needs

www.rayandpeggy.com

New listing

2010-08-02T13:40:00.001-07:00

New listing today 4 bedroom 2 bath 1450 square feet $234,800 would this make a great little rental or what?

I Sold My Investment for a Loss and Still Owe Taxes??

2010-07-29T13:46:00.001-07:00

Thanks to Ron Ricard for his insight and the use of his newsletter

I Sold My Investment for a Loss and Still Owe Taxes??

This statement results from having "phantom income"; that is, taxable gain but no cash to pay taxes with. Sometimes in a flat or down market, investors do not properly consider the tax consequences of a sale. As a consequence, they experience a terrible surprise when their CPA gives them their tax returns to sign and file.

Capital gain is the difference between the net sales price of a property and its tax basis NOT the difference between the net sales price and its purchase price. The tax basis of a property starts as the purchase price of the property adjusted by the costs of purchase (non-recurring costs of purchase paid by the purchaser, such as recording fees, commissions, etc.). However this figure changes over the time the property is owned. It is increased by capital improvements to the property; things that add value to the property and cannot be expensed such as the cost of a garage added to a rental home. The tax basis is reduced by accumulated depreciation taken on the property. Remember that depreciation is mandatory and the failure to take it on an investment property can lead to another unpleasant surprise; that is, paying depreciation recapture tax on what could have been deducted!

Let’s assume that you purchased a property five years ago for $260,000, put $5,000 of capital improvements into it and took about $36,000 in depreciation deductions. Your tax basis is $229,000 ($260,000 + $5,000 - $36,000). If you sell it for $250,000 ($10,000 less than you paid) you will have a capital gain of $31,000 (the sales price of $250,000 minus the tax basis of $229,000). Accordingly, it is very important to know what your tax basis is in a piece of investment property to avoid the “April Surprise”.

It is even more important if you did a 1031 exchange into the property being sold. In a 1031 exchange the capital gain tax is deferred which allows an investor to reinvest ALL of the equity (to generate income for the investor) rather than just the after-tax equity. However, putting it very simply, the tax basis from the old investment property (relinquished property) is transferred to the new investment property (replacement property).

To illustrate how investors fall victim to the April Surprise, let’s take the following example. Last year you sold a rental home you owned for many years for $200,000. You did a 1031 exchange and your CPA properly transferred its $100,000 tax basis to your new investment property. After a year you have been unsuccessful in finding a suitable tenant and you sell the property for $190,000. Conventional wisdom would say you do not owe any tax because you sold it for a $10,000 loss, right? WRONG. You have a capital gain of $90,000! Your sales price was $190,000 but your tax basis is $100,000. Between federal and state taxes you will probably owe between 25 to 30% of the gain in taxes ($22,500 to $30,000).

Is this result inevitable? No. You should do a 1031 exchange. By doing an exchange you can avoid paying taxes on a gain with money you do not have. In summary, it is extremely important that you have an open dialogue with your CPA to avoid the “April Surprise”.

If you need more help or information please feel free to call or go to

www.rayandpeggy.com

this is a reprint from an e-mail I received on high speed rail

2010-07-28T13:09:00.001-07:00

Orange City Council Votes to Oppose High Speed Rail

By Cynthia Ward | 7/28/10 | 11:32 AM EDT | 2 Comments

Last night, the City of Orange voted unanimously to approve a Resolution opposing High Speed Rail’s push to take property in their City by eminent domain, for an underfunded transportation project.

Within 20 minutes the California High Speed Rail Authority released this statement, accusing Orange elected officials of opposing something good for the people of their community; indeed the HSR is being promoted as the salvation of the entire State of California. What absolute horse-feathers! The Orange City Council cites quite specifically in their Resolution the very arguments that communities up and down the State are citing in their opposition to this boondoggle.

The Resolution calls out the State for:

Using eminent domain powers to cut through neighborhoods and business centers
A viable finance plan to fund construction does not currently exist, and current plans lay out an unrealistic scenario.
The State Auditor Report says, “The program risks significant delays without more well developed plans for obtaining or replacing federal funds.”
The CHSRA ridership and revenue scenario for the CHSR has been inflated in order to continue to move this project forward with unachievable goals.
Increasing fiscal costs to complete the project.

Rather than using State resources to pummel a City government for standing up for their own people, I would prefer to see the CHSRA show us where Orange is inaccurate in their assessment of the situation. We will be waiting for that statement for a very long time, because the CHSRA no longer has a leg to stand on in this argument. They continue shoving blindly forward on an underfunded project whose benefits have been exaggerated, and kudos to the City of Orange for taking a stand. This Resolution was not only appropriate, it is a model that could be lifted word for word and used by other communities up and down the State. I envy the people of Orange their bold leadership, and congratulate those at City Hall who were behind this Resolution, written so carefully that even proponents of the project can find no reason to deny their yes votes to protect the people of Orange. Good work.

Mid-day update: The OCRegister did a more detailed story on this Resolution, with the information that Councilman Jon Dimitru was the primary voice behind this vote. Jon has also recently announced he is running for the Mayor's seat this year.

Foreclosure or default information

2010-07-20T11:37:00.001-07:00

Information on options to foreclosure follow the link it is a safe site.

http://www.ray-peggy.com/Resources.aspx

foreclosure preforeclosure www.ray-peggy.com

2010-07-17T11:12:00.001-07:00

According to Realttrak, 1 in every 119 housing units received a foreclosure filing in June 2010.

Geographical comparsions show that California is holding at about 52% foreclosure rate while Hollister is at 84%, Nationwide its 24%.

Gilroy appears to be trending with Hollister although a little behind on its preforeclosure

the good news is more families are moving towards short sales and that keeps the nieghborhood values higher 29% nationwide.

For more information visit our web site http://www.ray-peggy.com

Weekly stats San Benito County

2010-07-13T11:53:00.001-07:00

Happy Tuesday!

7/13/2010
total Actives	173	173
short	44	71
REO	27	41%


this week
total SOLD	8	8
Shorts	5	6
REO	1	75%



current total PENDINGS	196	196
Shorts	124	160
REO	36

Market differences the reo short sale pendings have dropped off a little 85% last week 82% this week.

The actives have dropped from 177 to 173

reo short sale Solds acount for 75% of the market this week.

Avoid foreclosure save your credit score

2010-07-11T15:19:00.001-07:00

Keeping up your credit score is important, right? It helps with securing loans and can keep interest rates low. Plus, a good score won't challenge future employment or security clearance.

This is why I'm sharing important information for anyone having trouble paying the mortgage. Something you may not know is that pursuing a short sale or deed-in-lieu, two dignified foreclosure alternatives, may significantly reduce the impact on your credit score at a crucial time in the financial recovery process.

I have created a free report that explains these options and the effects on your credit score. If you or anyone you know is struggling with their mortgage bills, please download the report here:

http://www.ray-peggy.com/

Use this report as a source of information and don't hesitate to contact me for immediate assistance. I can explain the full range of options for an unaffordable mortgage, and I'm here to help.

Ray Pierce
Intero Real Estate Services
(831) 801-2400

CA-DRE # 01116170

Sales Stats for the San Benito County area in California

2010-07-08T11:27:00.001-07:00

New montly stats for San Benito County These are from june 1 forward broke out in sales per $100,000 dollar range.

Inventory is starting to build a little in the last few weeks. Closed sales are up a little but with as many preforeclosure short sales in the sales pending inventory is could be bringing some of them forward.

For specific questions call 831-801-2400 or go to our web site at www.ray-peggy.com or www.rayandpeggy.com

06/01/2010+
8	$ 100,000.00
28	$ 200,000.00
18	$ 300,000.00
6	$ 400,000.00
2	$ 500,000.00

Snap Shot of the San Benito County market this week

2010-07-05T19:38:00.001-07:00

7/6/2010
Total Actives	177	177
short Sale Actives	51	75
REO Actives	24	42%



SOLD since 6-21	26	26
Shorts Sales	5	13
REO Solds	8	50%



Current PENDINGS	196	196
pending Shorts	129	166
pending REO	37	85%

Her is the Snap Shot of the San Benito County market this week.

More information at our web sites rayandpeggy.com or for foreclosure and short sale information the website at www.ray-peggy.com

Number of pending is dropping sales has increased and the number of listing in the inventory has increased.

All my best to you and yours.

Ray Pierce

Intero Reay Estate

#01116170

Hollister CA Home for sale

2010-07-05T19:08:00.001-07:00

I was at the grocery store the other day someone from a ways off was watching me as person after person said, Hello, in the meat isle. Finally they approached and said, hello, they had been around town maybe 10 years, and commented about all the people I knew. I explained that most all of our clients end up being our friends and so we allow extra time at the grocery store to say hello and we always buy the frozen items last right before we hit the checkout.

It’s nice living in a small town and developing friendships that last throughout the years and raising your children and grandchildren in the same town for the last 39 years. The last 20 years we have been in Real Estate that makes for a lot of friends.

A new friend has just listed their house…

http://www.visualtour.com/show.asp?t=2239808&prt=10003

If we can help call or visit our web site below.

Ray Pierce

e-PRO, CDPE, SFR

Intero Real Estate Services

800 San Benito Street

Hollister, CA. 95023

831-635-6735 office

831-637-0521 Direct

831-801-2400 Cell

831-603-5892 e-Fax

DRE License #01116170

http://www.rayandpeggy.com

http://www.ray-peggy.com

San Benito County Stats broken out by $100,000 dollar ranges

2010-07-02T14:47:00.001-07:00

100K	6
200K	43
300K	24
400K	30
500K	15
600K	12
700K	14
800K	3
900K	1
1MILLION PLUS	22

of these 178 total active listing 53 of them are short sales and 22 reo or Bank owned properties being sold by the banks that foreclosured on them.

The good news 103 are normal sales or undisclosed of foreclosure.

Last month SOLD listing below

100K	5
200K	22
300K	17
400K	11
500K	4
600K	0
700K	0
800K	0
900K	0
1MILLION PLUS	0

OF THESE TOTAL OF 59 SOLD LISTING LAST MONTH 14 WERE BANK OWNED 14 WERE SHORT SALES

THE GOOD NEWS AGAIN IS 31 WERE NORMAL SALES

The short and normal sales have they effect of bringing the inventory price point higher. Although I haven't charted it exactly here it has an effect nationwide of increase pricings 29% on a short sale compared to REO or bank owned.

The listing base is slowwwwly turning toward a normal market as far as stats show.

This information is taken from MLS information.

if you would like more information about preforeclosures go to our web site http://www.ray-peggy.com

if you would like to search value of your property go to http://www.rayandpeggy.com

our just call and say hello. 831-801-2400 I like to talk real estate. Ask for Ray or Peggy Pierce

intero real estate ca dre#01116170

Fannie Mae Cracks Down on Strategic Defaulters

2010-06-24T13:36:00.001-07:00

Fannie Mae Cracks Down on Strategic Defaulters « HousingWire

http://www.housingwire.com/2010/06/23/fa...

Borrowers who are determined to have the ability to make their monthly payments but walk away from their homes will not be able to secure a Fannie Mae (FNM: 0.3807 -7.15%)-backed mortgage for seven years after the foreclosure, according to a new policy announced by the mortgage giant this week.

Fannie Mae bans homeowners who walk away from mortgages from getting new loans for 7 years | StarTribune.com

2010-06-24T08:58:00.000-07:00

Have you seen this some people call this strategic default or strategic foreclosure. When you can pay the mortgage but walk away from the house.

Fannie Mae bans homeowners who walk away from mortgages from getting new loans for 7 years | StarTribune.com

Eight units in Hollister California Real Estate

2010-06-22T17:46:00.001-07:00

Took an Eight plex listing for 875,000 dollars, looks like a postivie cash flow Peggy and I will take pictures tomorrow and get it on the Multiple listing service and the internet.

More information to follow.........

Ray

San Benito County Hollister house stats

2010-06-08T20:48:00.001-07:00

Jan	Feb	March	April	May	June	July	August	Sept	Oct	Nov	Dec
51	53	59	45	64	40	46	36	53	30	43	46	566	2009
47	46	45	58	63								259	2010

Sales so far this year sales are not keeping up with sales last year in San Benito County in town it looks like it would take six months to sell all of the exsisting houses.

A buyer market but you knew that with rates at 4.5% currently.

Hollister California

2010-06-08T11:08:00.001-07:00

Don't miss the farmer's Market today

It's at fifth street between San Benito and Monterey.

Working Hollister Ca. Homes for sale

2010-06-07T10:28:00.001-07:00

Another Monday, took a nice listing this weekend checked a rehab being perpared for market and checking market stats

2010-05-27T10:40:00.001-07:00

New listing in Ridgemark Golf and Country Club

This is a well priced beauty check it out

Free Government Program Eligibility Surveys

2010-05-25T21:15:00.001-07:00

Ray and Peggy Pierce Provide Free Government Program Eligibility Surveys in Response to High Percentage of Mortgage Defaults

With more than one in seven mortgages not being paid, Ray and Peggy Pierce provide a new foreclosure avoidance resource.

Hollister, CA.– 05/25/2010– Local CDPE-designated agents and community advocates, Ray and Peggy Pierce of Intero Real Estate have announced the expansion of an online resource for San Benito County-area homeowners facing financial hardship:

http://www.ray-peggy.com

According to the Mortgage Bankers Association’s quarterly report on mortgage defaults, 14 percent of mortgage loans are not current on payments. This means that a substantial number of homeowners are at risk of foreclosure.

“Many of these homeowners took on their loans when jobs were more secure and plentiful,” Ray and Peggy said. “Now, with unemployment reported at 9.9 percent, we’re seeing that more and more responsible homeowners are finding themselves with unaffordable mortgages.”

The Pierce’s website now contains eligibility surveys for government programs that offer help to distressed homeowners. One of those is the Home Affordable Foreclosure Alternatives Program, or HAFA, which streamlines the process and provides incentives for short sales.

These eligibility surveys let homeowners quickly find out if they can receive help from any of the government programs. The website also acts as a hub for information on the facts and issues for struggling homeowners, putting all the necessary information in one, easy-to-use location.

“Seven out of 10 homes that have gone into foreclosure did so without even being listed on the market,” said Alex Charfen, co-founder and CEO of the Distressed Property Institute. “Agents like Ray and Peggy Pierce with the CDPE designation are helping distressed homeowners understand that there may be options available to avoid foreclosure.”

The CDPE designation provides real estate professionals with specific understanding of the complex issues confronting the real estate industry. Through comprehensive training and experience, CDPEs are able to provide solutions for homeowners facing financial hardship in today’s market.

Government Program Eligibility Surveys

2010-05-25T21:09:00.001-07:00

Ray and Peggy Pierce Provide Free Government Program Eligibility Surveys in Response to High Percentage of Mortgage Defaults

With more than one in seven mortgages not being paid, Ray and Peggy Pierce provide a new foreclosure avoidance resource.

Hollister, CA.- 05/25/2010- Local CDPE-designated agents and community advocates, Ray and Peggy Pierce of Intero Real Estate have announced the expansion of an online resource for San Benito County-area homeowners facing financial hardship:

http://www.ray-peggy.com

According to the Mortgage Bankers Association's quarterly report on mortgage defaults, 14 percent of mortgage loans are not current on payments. This means that a substantial number of homeowners are at risk of foreclosure.

"Many of these homeowners took on their loans when jobs were more secure and plentiful," Ray and Peggy said. "Now, with unemployment reported at 9.9 percent, we're seeing that more and more responsible homeowners are finding themselves with unaffordable mortgages."

The Pierce's website now contains eligibility surveys for government programs that offer help to distressed homeowners. One of those is the Home Affordable Foreclosure Alternatives Program, or HAFA, which streamlines the process and provides incentives for short sales.

"Seven out of 10 homes that have gone into foreclosure did so without even being listed on the market," said Alex Charfen, co-founder and CEO of the Distressed Property Institute. "Agents like Ray and Peggy Pierce with the CDPE designation are helping distressed homeowners understand that there may be options available to avoid foreclosure."

Foreclosed homeowners could owe ‘tens thousands of dollars’ to lenders - Los Angeles Business from bizjournals

2010-05-25T11:32:00.000-07:00

Just read this information it could be of interest to you.
Our information is at
www.ray-peggy.com

Foreclosed homeowners could owe ‘tens thousands of dollars’ to lenders - Los Angeles Business from bizjournals

Incentives to avoid foreclosure

2010-05-24T18:54:00.001-07:00

Incentives to avoid foreclosure go to

http://www.ray-peggy.com

2010-05-24T09:47:00.001-07:00

distressed properties and avoid foreclosure

If you or someone you know is having a tough time with mortgage bills, now is the time to do something about it. Now, there are new government-backed programs for eligible homeowners.

To quickly find out your eligibility, fill out the free surveys here:

http://www.ray-peggy.com/Eligibility

These surveys will give you quick answers about what your options are, and what to do next. My site also provides free information on foreclosure avoidance options so that you or anyone you know can learn what options are available.

 Please don't hesitate to contact me. I'm here to help you find answers. 
 Ray and Peggy Pierce 
Intero Real Estate Services 
(831) 801-2400

CA-DRE # 01116170 - CA-DRE# 01067948

Hollister homes for sale, Hollister California, San Benito County

2010-05-18T09:38:00.000-07:00

There will be an e-waste recycling drop off at our office Saturday June 19th from 9am to 3 pm.

It's FREE

That address is 800 San Benito Street Suite C in Hollister, CA

You may drop off computers, monitors, tv's, keyboards, fax machines, printers, copiers and small appliances.

This is a "low hanging fruit" way to be green as Ed Begley Jr. would say, and at the same time help the landfill and community because proceeds will go to charity. Jump in and help out.

From our little piece of paradise, "have a good day"

ray and peggy pierce http://www.rayanddpeggy.com

HAFA information Hollister CA Homes for sale

2010-04-20T11:04:00.000-07:00

The link goes to basic information about HAFA. It will answer a few questions and give you a resource location web address.
The more information we receive the better so in an effort to help we put this out there for the public.

As always our best to you and ours on this beautiful rainy day,

Ray

http://www.youtube.com/v/8TXx8rKy-Ow&color1=0xb1b1b1&color2=0xcfcfcf&hl=en_US&feature=player_embedded&fs=1"

Converting your Primary Residence into Rental Property

2010-03-25T13:50:00.000-07:00

The tax code allows you to keep some or all of the gain on the sale of a primary residence if you meet certain conditions. IRC §121 permits the exclusion of realized capital gain of $250,000 for a single person and $500,000 for a married couple upon the sale of a home that was their primary residence for any two years during the five years preceding the sale. If your gain is in excess of this exclusion, you may have to pay capital gain tax on the amount over the exemption. This exemption cannot be used more than once every two years.

Let’s assume you have lived in your home as a primary residence more than two years, but decide to move out and turn the property into rental housing. If you sell the property less than three years after you move out, you still qualify for that primary residence exemption of $250,000 or $500,000. So if your gain (profit) is less than those thresholds, you will have no tax to pay on your gain, though you will have to pay depreciation recapture tax on the amount that you depreciated the property while it was a rental.

But what if your gain is in excess of the exemption? In 2005 the IRS issued Revenue Procedure 2005-14, which showed how you can combine the primary residence exemption with a 1031 exchange. For example, you bought your house for $200,000 and it is now worth $900,000. After living in it for many years, you convert your house into a rental property. After renting the property for a couple years you have established the house as investment real estate, BUT you still meet the criteria of having lived in the property for two of the last five years. When you sell it, it qualifies under both parts of the tax code. That allows you to keep your exemption amount (either $250,000 or $500,000) in cash and do a 1031 exchange with the remainder. If you are married, you pocket $500,000 and exchange the remaining $400,000 towards another piece of investment real estate. Note that the original basis goes into the exchange property, as you only get to keep the exemption tax-free.

Lastly, if you do not sell the property in that three year window after you move out, your property no longer qualifies for the primary residence exemption and is now fully investment real estate.

DISCLAIMER: The information above is based on current tax code, which is subject to change. The above information should not be considered to be tax advice. You should discuss your personal situation with your qualified tax advisor.

Ron Ricard

Investment Property Exchange Services, Inc

(877) 747-7875

ron.ricard@ipx1031.com

Thanks to Ron Ricard fort his information!

Market stats for foreclosure and short sale properties in Hollister, California

2010-03-22T13:10:00.000-07:00

Out of 136 active listings 23 of those are REO or bank owned and 31 are short sales.

REO and shorts account for about 40% of our market currently.

Currently 89% of the SOLDS are REO or Short sales in the last week.

79% of the Pending sales in the market currently are REO or Short sales.

The REO market is turning to a short sale market.

Home buyers must learn to put up with Banks that take their time accepting offers and agreeing to terms with their sellers. Escrow periods are increasing and pricing is slowly, ever so slowly increasing.

Banks are tightening on money at least that's the way it appears here in San Benito County, Hollister California, USA.

From our little piece of paradise called Hollister, CA all our best,

Ray
www.rayandpeggy.com

Added new links for the Hollister Ca Homes for sale site

2010-03-11T21:27:00.000-08:00

New links for the site always trying to improve http://ray-peggy.com take a look if you are looking for resource information on short sales or the foreclosure process. Let us know if we can help in the buying or selling process.
Our best from our little part of paradise.

Our other blog

Hollister Homes for sale

2010-02-16T15:36:00.000-08:00

OK, so what do you think is going to happen this year when the Option ARM's reset?
Is it going to be as bad as the sub-prime reset?
Is the government going to come up with something that will actually help the home owners get out of this mess or just mess it up again by giving them hope and then letting them down.
Good questions I'd say but then anything could happen.
Check out our web sites for information and help depending on your need.
www.rayandpeggy.com
www.ray-peggy.com
www.hollisterhomevalues.com

From our little piece of paradise, live long and try to prosper...

Hollister CA homes for sale

2010-02-01T16:31:00.000-08:00

I don't usually run new listings but I thought I would run this one up the flagpole and see if it got any attention!
Have a great day and be excellent to each other.

http://www.visualtour.com/showvt.asp?t=2096572&prt=10003

Cut and paste the above link into your web browser for a virtual tourof the property.

Haiti earthquake

2010-01-23T10:42:00.000-08:00

Well, Peggy and I have been a little pre-occupied lately with our 32 year old son in Haiti helping out a medical team in an orphanage he supports and has visited the last 3 years before the earthquake.

Some of the children were injured and about 35 children died in the orphanages he visits and helps.

Their group is seeing about 90 people per day last report, however reports are scarce, one of the doctors in the group has a phone and calls her husband in Georgia from time to time but reports a short and sparse.

Bio-mechanical type water filters he has purchased and installed during previous trips are being used by many right now.

I’ll we can do is hope and pray he comes back safe and healthy.

The Earth is part of this little piece of perfection called Hollister in California.

My best to you and your family,

Ray

Merry Christmas

2009-12-21T12:33:00.000-08:00

Merry Christmas to all from that little area called San Benito County California.
It's not perfect here but we are working on it.

Ray & Peggy

2009-12-06T20:40:00.000-08:00

Just got back from a CDPE seminar updating on all the new preforeclosure and foreclosure issue in the market today.
Peggy and I were helping clients 20 years ago with these issues but that was only approximately 2% of the market at that time and it was a mess then.
Now it about 80% of the market or more and things are worst. New government programs to help but hard to find.
Many people needing help but with all the scams they don't know who to trust.
This new information we have will help but the public has to seek help as soon as possible to get the best on come or at least a better out come.
We hope we can help even if it only one peson at a time.
If we all jumped in we could have this market stabilized at least and then maybe things could start getting better.

So that the WORD from quiet little San Benito County California keep te light on for me!
Ray

2009-09-29T10:51:00.000-07:00

Well! Winter is beginning to show it's face in San Benito County once again.
The skies are beginning to show the storms coming off the ocean with a beautiful morning sunrise. It was in the 60's this morning?
The El Nino is warming up and giving all the indicators that a wet winter is on the way according to John my physical therapist who is winterizing his acreage in preparation for the coming storms.
It is never to early to start he is connecting his Diesel generator to his house because of the power outages from the last storm. Ah to be off the grid....
San Benito County is a wonderful place to live not to hot not to cold and friendly people as well as agriculture is our main products.

Have a great day!
Ray

2009-05-25T13:22:00.000-07:00

Today, Veterams Memorial day in Hollister California, the motorbikes are out at the Hollister Hills State Park one of the few day you can hear them from my house at the mouth of the Cienega Valley. The Veterans are lining up downtown I bet in rememberence of the fallen during all the wars. They stand close to the the monuments and the name plaques in front of the Veterans Memorial building. a Brother's, Uncle's and Granfather's plaque rest there we are going to apply for my wife's Uncle's plaques to rest there in rememberence of their duty to the country. We rember them all days but especially this day.

Hollister is a great little town, a great little community.
Have a Great Day!

Ray

Tax credits any down payment

2009-05-15T14:27:00.000-07:00

This is important that you know that the tax credit cannot be used for Down Payment!

This topic is on the front burner now in the media. Yesterday HUD endorsed it, however, they recanted after making the public statement.

Mark Madsen provides Govt. loan information to MMG and Loan Tool Box. He is an active blogger on FHA and considered to be a good source of information.

The bottom line is this concept is not fully baked. There is pending litigation and other regulatory issues surrounding this.

For more information go to the HUD Site...

http://www.hud.gov/offices/adm/hudclips/letters/mortgagee/

2009-05-13T10:04:00.000-07:00

It is Bike to Work week!

http://biketoworkweek.org/index.php

do your bit help the enviroment in small steps it gets habit forming after that and it is an amazing way to save money!

Yes SAVE money.

Start Small.

Have a great day

Star Trek

2009-05-11T14:13:00.000-07:00

I'm a bit of a Trekker!
Peggy and I got to see a preview of the new Star Trek movie.
It was great we loved it, could hardly wait to call the kids and tell them about it.
I like plot but it actually cleans the plate and allows for many new Star Trek movies if they want to procuce them amazing what a little black Holle will do if place correctly in the universe.

I tell you the plot go and enjoy!
Ray

Movies under the stars in Downtown Hollister

2009-05-11T08:49:00.000-07:00

Hollister. California

The Hollister downtown association is kicking off the there "movie under the stars" . This year it starts May 28 go through Sept. 3, movies start 1/2 hour after dusk. They well be on the corner of San Benito and Fourth street the historic center of the downtown.

Bring your blankets and sit on the grass.

Enjoy!

Ray

2009-05-08T09:42:00.000-07:00

Word has just come down the grape vine that a major sub-division named Rancho San Benito owned by DMB has decided to pull there application for there project. It would have been quite massive by San Benito County standards once completed it essentially would have been it's own town.

The biggest town, Hollister and county seat in San Benito is around 36,000 citizens. Words is the withdrew because of economic times.

Ray Pierce

2009-05-06T16:26:00.000-07:00

Welcome to this blog on real estate in and around the San Benito, Monterey, Santa Cruz and Santa Clara Area.
It kind of cool as my son would say to live close to an area where all of these California Counties intersect.
The weather is great always Sunny but not to warm because of the coastal influence. It a great place to live, I have been here for 30 some years but born and raised in a classic coastal area town of San Luis Obispo, Ca.
Hollister, CA is close to Yosemite (3 hours) by California standards and 45 minutes from a great little point break in Santa Cruz called Pleasure Point.
Life here is friendly and un-rushed. My children and grandchildren live and thrive here in this little valley close to the California coast, Big Sur, Steinbeck country and the Monterey Bay.
The West coast has a lot of area you pretty much need to get in a car and travel to see it all, you could drive 7-8 hours North to South and never leave the State. On the East coast no telling how many states you would go through.
We are on the rim of the Silicon Valley about 45 minutes to downtown San Jose many good paying jobs up there but they seem to like the slower pace and the acreage of or area, not to mention the pricing.
Well if you are interested in this area, post something and I'll see if I can help.