Loan Modificaions Just Aren't Happening

We know that loan modifications just aren't happening in our service area. Here's an article that explains everything!

Any of You Girls Want to Sell Your House?

Check this out, girls!

A recent Canadian Survey indicates that females who rent, instead of own a home, weight less!

Today Show's Real Estate Minute

We love this regular feature on the Today Show. As a matter of fact, we're working on doing one for Gilroy. Stay tuned!

Visit msnbc.com for Breaking News, World News, and News about the Economy

Gilroy is a Great Place to Live

Gilroy is a great place to live. Here’s another reason why:

The Gilroy High School Choir is led by Phil Robb.

Phil has been a part of the Gilroy Unified School System for over 20 years and is considered a community treasure by anyone who has ever met him, seen him at work, been directed by him, or knows of him.

Phil came to the Gilroy Rotary Club this week and talked about the fabulous trip he was able to organize, for this year’s choir to perform at Carnegie Hall. As always, his leadership was inspiring. He is such a humble man of such great accomplishment that it is an honor for us to know him.

When you’re looking for a place to live, pick a place where people like Phil Robb live and work!

Links to trip videos:

Choir at Carnegie Hall
Choir singing in Harlem
Choir with Composer
Choir Rehearsal for Carnegie Hall

All videos are the property of The Gilroy Dispatch – which is another reason why Gilroy is a great place to live.

Mortgage Market Update

Team Patereau's in-house mortgage agent at Intero Real Estate, Dario Liberati, brought us up to date on the mortgage market. Here's his report:

Last week mortgage bonds had their worst one day performance since October, losing an astounding 206 bps. So what happened and what's next?

The main culprit for the selloff is SUPPLY. The Treasury has literally been printing money by way of Treasury auctions to pay for the massive spending. These hundreds of Billions of dollars of new Bond supply have to be absorbed by the market. The additional supply literally weighs on the entire Bond market and drags prices lower.

Also, when you think of SUPPLY, consider all the refinancing we have been doing and that those loans have been bundled, packaged and sold on Wall Street. This additional SUPPLY has now started to hit the secondary market as those loans are now getting sold. While the Fed has been a buyer, they simply cannot buy enough to balance all the selling.

Economics 101: Anytime supply exceeds demand, prices will move lower. As prices move lower, yields rise. That rise in yield will attract new buyers as they get a higher return on their investment. This is how the market finds balance.

Mortgage bonds have lost a staggering 363 bps since last Thursday. All locked loans are getting closed at a great rate. The new market must unfold to settle at its price.

Rates are better today than at close last Friday, and are still at ALL TIME LOWS!!! Don’t give up hope. Buyers, buy your homes. Values are still in the purchase and prices may not be this affordable in the near future.

Buy-Of-The-Week in Gilroy

Looking over shrinking inventory in Gilroy, we've picked out a really good buy for just the right purchaser. This is a beautiful home that is available right away, and priced VERY attractively at $399,000. Contact Team Patereau to schedule a viewing - and do it today - at this price, and in this condition, this one is going to be gone before the week-end is here.

Here's the specifics on the home:













And here's a picture of the cute and clean kitchen:


But wait - here's the back yard:

No kidding - call or email TODAY!

Contest Entry

Team Patereau would really like to be better bloggers. We think our real estate business could benefit. We also think that you, the people we do business with and who read this already benefit from our blog, but there could be greater benefits.

One way to get better is to get educated. Hence this post. We’d like to win 2 tickets for the Social Media Success Summit 2009. Here’s what blogger Chris Garrett has to say about the summit:

All around the world people are very excited about Social Media Success Summit 2009 — the first major online event dedicated to helping you successfully market your business with sites like Twitter, Facebook and LinkedIn. More than 500 people have already registered.

Chris goes on to explain:

This event does not require any travel (no hotel, rental car or wasted time). You simply attend sessions online and meet the experts and network with peers from the comfort of your home or office. Pretty cool, eh?

We say, “Well, Yes! Pretty Cool.”

We’re following the contest entry rules: Post a blog about why we want to attend Social Media Success Summit 2009. Here it is:

We want to attend so that we can be better bloggers, and our readers can benefit from what we learn.

It just doesn’t get any simpler than that! Wish us luck!

Today there are lots of great deals in the real estate market in Gilroy, and the surrounding area. Prices are lower than they have been in many years. It's a really good time to buy!

The other side of the coin is that when you buy, you will probably need a loan. There is money to lend! It's very hard to get. Borrowers have to have sterling credit AND assured income for repayment. There's a great article about how lenders evaluate a buyer's credit, by David Compton & George Smith. Check it out.

Sign on the Dotted Line...Please

We're talking to several soon-to-be Sellers, and have found that the hardest step in selling a home is the first step.

Homeowners have a hard time disconnecting their emotional attachments to their current home. Even though people are looking forward to a new and different home, even though they have outgrown their old one, even though better things are ahead, it’s still hard to let go.

We’ve been through listing appointments that are highly emotionally charged, some with tears, some with indignation and anger. Then, when all the details are finally ironed out and we’re down to signing the listing agreement the owners sign, and, Whew! – a sense of relief comes over them. They have signed, they have released, they are ready to move on. The simple action of signing allows everyone to look forward, and stop holding on to the past.

Have a Great Lawn That's Good to the Earth

Caring for the environment means caring for a full, green lawn. Properly maintaining your lawn will produce strong grass and can help protect and conserve water resources at the same time.

To enjoy a great lawn and protect fresh water resources for generations to come, follow these lawn care tips from the experts at The Scotts Miracle-Gro Company:

• Strong, dense lawns can help reduce run off and erosion, and filter rainwater to recharge groundwater supplies. The foundation of a good lawn is rich soil, so use a mulching mower to return grass clippings to the soil where the clippings break down and recycle nutrients back into the grass.


• Generally, only new lawns require additional phosphorus for root growth. For mature lawns, choose a fertilizer that is low-phosphorus or phosphorus-free, unless a soil test shows a need for more.


• The best time to fertilize is in the spring and fall. Never fertilize when the ground is frozen.


• Use a drop spreader or rotary spreader with a side guard to keep fertilizer on the lawn.


• Sweep any grass clippings and fertilizer that land on driveways and sidewalks back on to the lawn to help keep nutrients out of waterways.


• Set your mower to its highest setting to build strong, deep grass roots that can find water and nutrients. Longer grass can also better withstand periods of heat and drought.


• If your lawn is dry, the best time to water it is in the morning. Water easily evaporates in the afternoon and watering at night can cause fungus and disease.


• When lawn problems arise, select the right product for the task. For small problems, use a spot treatment. For numerous problems throughout the yard, use a broadcast application.


• Use native plants in your landscape and garden. These plants are adapted to your area and better able to tolerate adverse conditions and resist disease.


• Avoid application when rain is in the forecast, as heavy rainfall can overwhelm soils and cause fertilizers to be washed into waterways.


• Storm sewers often lead directly into streams and lakes. Never dispose of clippings or pet waste in or around sewers or water resources, such as rivers, lakes and streams. Make it a habit to sweep up any fertilizer, grass clippings and leaves.
  

Courtesy of ARAcontent