Happy Birthday, Tracy!

Today, Berkeley Hills Realty agents and staff are hacking

Berkeley Hills co-owner Tracy Sichterman’s blog to wish her a very Happy Birthday!

Happy Birthday, Tracy!

What’s so great about Tracy Sichterman?

Here’s what BHR agents and staff have to say:

“I can’t sum her up in just One Good Thing. Tracy has an infectious energy and excitement for her work, and is the curator of the coolest shoe collection in real estate.”
Rebecca Nemeth

“Thoughts About Tracy:
She is so smart, yet so kind and considerate... a very nice combination.
She is so successful, yet so modest and humble... a very nice combination.
She is so inspiring, yet so supportive and encouraging... a very nice combination.
She is the key to the entire office, no combination required!”
Tom Knight

“Great source for info! My go-to tech girl!”

Terese Ashman

"Happy Birthday Tracy. 
Among the many things I admire about you is your positive attitude and the great ability of always being able to say good things about everyone.”
Love,
Maya Trilling

“Tracy is wonderful because she is the most generous, truly optimistic person I have ever met. She glows with the energy of an overachiever that has made it and wants to share it all with the world!
Happy Birthday to the best “boss” a person could have!”
Carina Stanley, Office Manager

“Happy birthday to one inspirational, hard- working, sophisticated, unselfish, and classy bike-riding emotional creature. May your year be full of love, laughter,
and a great cocktail. Cheers!”
Krista Miller

“Happy Birthday Tracy. It has been a pleasure working with you for the last 1.5 year. You are not only a beautiful person but also a fabulous supportive person in the office to us all. I am amazed at how much you do for everyone. Thanks for being you.” Xoxo,
Mamood Mokhtari



“Tracy: The best great thing about Tracy is Tracy. Top to bottom, a complete package! And inside too!”
Xoxo,
Nancy Mueller



“One great thing about Tracy Sichterman is her infectious gracious smile and her kindness to all who come her way...”
Happy Birthday from
Feri Niroomand & Negar Souza

"Tracy is very whole.  And by that I mean that she very naturally possesses abilities (qualities) that are a tricky balance in one person.  She is kind but has boundaries, smart but accessible, careful but willing to take risks, energetic and optimistic but not crazy (I think!).  And most of all for me anyway, she is a really positive force, always.  She is encouraging, substantive, always available and yet not judgemental.  I am sure she must have privately had some dark moments in the past year or two given the economy, but bless her heart she turns it into sunshine every time.  And it's real, the kind that warms you and gets you through."

Romney O'Connell

Happy Birthday, Tracy!
 

Thank you for making Berkeley Hills Realty such an amazing place to work!

For more information about Berkeley Hills Realty, call 510-524-9888,

email broker@berkhills.com or visit us at www.berkhills.com.

A Toast To The Newest Agent At Berkeley Hills Realty: Janesta Downey

Since earning her real estate license in 2004, Janesta Downey has demonstrated a knack for taking on challenges and creating positive results. Can she find the perfect home for a group of nuns in West Oakland? Yes, she can! In fact, she did. As a result of the friendships formed during that transaction she became fundraiser, board member, and general cheerleader for St. Martin de Porres School in Oakland. “You’ll hear a lot about this school from me,” she warns, “I believe education is the key to overcoming so many social challenges.”

Janesta has a solid history of turning her passions into her daily routine. Her love of meeting the needs of her clients created 20 successful years in computer industry corporate sales. Her love of wine-tasting and California helped her make the move from the East coast to the East Bay-- “The best place in the world!”-- after she earned her B.S. in Business Management from Rivier College and B.S. in Social Sciences from University of New Hampshire. She recently teamed up with former co-workers to shape www.brixchicks.com, a blog for exploring and reviewing wines. You’ll often find her whipping up a meal for friends and, occasionally, for her son and daughter. “They both work in the Bay Area,” she declares with a hint of triumph. You can be sure the Greek chicken she’s preparing for them tonight will be accompanied with the perfect wine.

The pairing of an agent with the right brokerage is essential to success. What draws Janesta to Berkeley Hills Realty? “It is such a nurturing group with a reputation for ethical business practices. When you tell the truth your life is so much simpler. I seek out people who share the same commitment to trustworthiness and kindness.”

For her clients, Janesta’s consulting and listening skills make the difference: “I believe people tell you exactly what they need. If you are talking too much you miss it.” Janesta is strong enough to support clients during periods of high emotion while being analytical and thorough about the details. These skills coupled with support from a welcoming brokerage make Janesta Downey and Berkeley Hills Realty the perfect pairing for your real estate needs.

Janesta Downey  

DRE # 01402391

janesta@berkhills.com

Office: 510.524.9888 x57

Vm: 510.524.1700 x57

Cell: 510.301.5323

About The East Bay Specialists

Berkeley Hills Realty has long been recognized as one of the market leaders in East Bay real estate. Founded as Berkeley Realty, the firm has more than fifty years of experience with residential properties in Oakland, Berkeley, Albany, Kensington, Piedmont, El Cerrito, and Emeryville. We are proud of our excellent reputation throughout the East Bay community and among our colleagues in real estate. At Berkeley Hills Realty, we strive to promote that reputation through specialized service and local expertise. With small-town ethics and a big world view, we combine digital push with personal pull to advance in the market without losing sight of the individual.

Berkeley Hills Realty is locally owned by two longtime agents. We are committed to nurturing a successful partnership with our clients, our associates, our staff members, and our real estate colleagues throughout the East Bay. Our associates are a select group of less than twenty-five agents. Our ongoing mission is to ensure the client’s best interests are of the utmost importance. That mission includes a dedicated effort to place the best and most polished tools available into the hands of our associates. With highly competitive commission earnings and exceptional support services, we take great care of our agents so that they can take great care of their clients.

For more information, call 510-524-9888, or email broker@berkhills.com.

1714 Solano Ave., Berkeley CA 94708  ·  510.524.9888  · www.berkhills.com

Berkeley Hills Realtors are Team Players

After the Berkeley Hills Realty weekly meeting, the office rings with a volley of shouts:  

“I’m coming!”

“I need two more minutes!”

 “I’ll drive!”  

What on earth is going on? After party? Happy hour?

Nope. When a single agent asks for extra hands and eyes to resolve an issue concerning property newly in her care—a team forms and deploys itself in five minutes flat. 35 minutes later, the issue is resolved. The solution team swarms back in to return phone calls, disappear leftover birthday cake, deliver hot tea to visiting clients, and buzz in their vote for the office background music.

One agent is extremely apologetic about not being able to help due to a prior commitment: “When I need help, every available agent makes an effort to help me. So, I try to help every time another agent asks.”

As a buyer or seller working with an agent at Berkeley Hills Realty, you win the unique qualities and expertise of the agent you have chosen. Plus, you get the combined knowledge of a whole team of seasoned professionals. Every one of them is prepped and ready to defeat any obstacle that comes between you and your dreams.

Oh! So that’s what Berkeley Hills Realty means by “small town ethics, big world view.” Glad somebody’s on that…

Sushi for the Realtor’s Soul:

Thought-bites to get you through the day

Re-watching the ridicu-licious comedy Bowfinger yielded an unexpected life tool—the happy premises.  In one scene, a paranoid Kit, played by Eddie Murphy, tries to mellow from a panic. He is led through his personal happy premises:

“Happy Premise # 1: There are no aliens.  

Happy Premise #2: There is no giant foot trying to squash me.

Happy Premise #3: Even though I feel like I might ignite, I probably won’t.”

Why does this silly set of rules seem slightly relevant?

Because these are the basic principles for getting through any business day.

“Happy Premise #1: There are no aliens.”

Happy Premise Re-Mix: There are no strangers.

In the movie Kit is worried about visitors from another planet attacking him. You may or may not have this particular concern today.

You will have visitors, clients, business associates, and rogue commuters that seem as if they are from another planet. They aren’t.

There is some thread of commonality in every interaction. Find it, and you are dealing with a friend instead of a stranger.

“Happy Premise #2: There is no giant foot trying to squash me.”

Happy Premise Re-Mix: They are not out to get you.

Most people are not out to get you because they don’t have time. 

The few who are out to get you won’t win.

The rest of the people are just wondering why you have your weapons out all the time.

“Happy Premise #3: Even though I feel like I might ignite, I probably won’t.”

Happy Premise Re-Mix: Even though I feel like I might ignite, I probably won’t.

We will make it through this day without exploding.  Probably.

So we might as well get out there and make the best of it.

“We cannot escape fear. We can only transform it into a companion that accompanies us on all our exciting adventures… Take a risk a day—one small or bold stroke that will make you feel great once you have done it.”  -Susan Jeffers

Rent Disenchantment

Is it time to start thinking about owning a home?  Shelter-seekers in Northern California often choose to rent, but there is some debate about whether or not renting is actually the best financial option. Spoiler Alert:  Real estate professionals tend to think buying is the answer.  Here are a few places where you can follow the discussion, look at the numbers, and decide for yourself if renting or buying is the right choice for you.

• According to “You’re Making Your Landlord Rich” by David Cross, California renters tend to spend more each month than homeowners. To bring it even closer to home, he reports that “Alameda County renters pay an additional $332/month.”     

•  “I left my heart in San Francisco…As I Move to the East Bay”-- Trulia makes the case that buying in the East Bay will get you the best deal if you are switching from renting to buying in the Bay Area.

•   Try the New York Times buy or rent calculator to help you crunch the numbers.

If you do decide it is time to own your own home, give us a call at Berkeley Hills Realty.  We’ll help you find a home that fits your budget and your lifestyle.

“Knock-Knock” is No Joke:

Real Estate Professionals Find Out “Who’s There” By Knocking on Doors

Sunday morning. 7am. Berkeley Hills Realty co-owner Bill McDowell quietly posts signs for an open house at 2pm. At nine, he starts strolling the neighborhood. He chats with neighbors, pets puppies, stands as a cheerful target for children on bikes, hands groggy couples their Sunday paper, and personally invites each person he meets to the open house. He may or may not have on the special M&M tie fellow agent MayaTrilling gave him to tease him about his signature stash of peanut M&Ms. He will have on a smile. You’d be wise to bet the house he is representing with fellow co-owner of Berkeley HillsRealty, Tracy Sichterman, will sell and come fully equipped with good vibes for the new owners. That success can be attributed to the powerful combination of Tracy’s online marketing campaign and her gentle nurturing of each client coupled with Bill’s careful research and gregarious door-to-door visits. This broker pair encourages all of the agents at Berkeley Hills Realty to use their individual mixes of digital push and personal pull to embrace the company’s motto: “Small Town Ethics. Big World View.”

Bill and Tracy are not alone. Many real estate professionals are linking their technological savvy with more traditional methods of marketing to get quantifiably positive results in a chaotic market climate. 

Are you a real estate professional thinking of strapping on your foot-in-the-door shoes? Here are three quick tips to consider when knocking on doors:

1. Never Show Up Empty-Handed: Some agents hand out a formal invitation to an open house. Others combine the invitation with small, useful gifts-- a calendar, a key chain flash drive, or snacks. When a name is added to their mailing list, some agents offer a chance to win a bottle of wine or entry into a drawing for a prize.  Include your business card in your package of goodies, but have more than your business card to share.

2. Know Before You Go: Do your research and know the neighborhood. Read the neighborhood association newsletter, the local paper, and all of the signs posted in the neighborhood (and neighborhood businesses). When you know a little bit about the neighborhood you are likely to be more comfortable, which means you and your message are more likely to be welcomed.

3. Share the Knowledge: Any information that can positively impact a homeowner’s investment or help a buyer to evaluate the market is likely to be well-received. Know what the concerns of local residents are and come armed with solutions, suggestions, and referrals. Do you know a good landscaper, contractor, house sitter? Be ready and willing to share that information if the topic comes up.

The best way to find out how door-knocking works is to talk to agents who are already working it. Find out which agents are getting good results with this method and ask for their advice while treating them dinner or coffee. Knocking on doors to find out “who’s there” might just be the key to boosting your real estate dream to the next level.

The Standard Relationship Disclosure Packet:

Wouldn’t it be great if we exchanged disclosure packets at the beginning of every life relationship?

*For those of you who aren’t real estate professionals, every home sold yields a substantial stack of paper called the disclosure packet. This is where the home seller tells the truth about what changes have been made to the house, what issues may arise with the house—basically everything that buyers might want to know about the house as they decide whether or not to invest in it.

The Standard Relationship Disclosure Packet (henceforth referred to as the SRDP because real estate professionals are second only to military recruits in the use of acronyms) would list useful things to know about a new friend or sweetheart before you choose to weave your lives together. The SRDP would include but not be limited to the following:

Specific Terms of Contract:

In which we define why we are here and what we plan to do about it.

Statement of Common Interest:

In which we notice how our dreams, hobbies, and habits intersect.

Notice to Disclose Intent to Convert:

In which we are upfront about all the ways we plan to change each other.

Notice of Security Bars:

In which we discuss how heightened emotional security measures have been implemented due to past violations.

Likelihood of Blanket Encumbrance:

In which we admit we will probably steal the covers.

Political, Religious, and Emotional Hazards Report:

In which we define our belief systems and establish firm boundaries.

Termination Rights:

In which we define when it makes sense to call it quits and how we would plan to go about it.

Notice of Closing Terms:

In which we decide when to admit we’ve made a life-connection and wish to waive our termination rights.

What other disclosures do you wish were exchanged at the beginning of relationships?

Seller Incentives: Your Bank May Pay You to Sell Your House

Banks have discovered that it is better to give than to receive.  Receiving a home through foreclosure has proven expensive for the lender.  According to Freddie Mac, an average foreclosure costs a bank $60,000.  Instead, bottom-line sensitive institutions are giving cash incentives to encourage homeowners to cooperate with a short sale.  A short sale is a sale in which the bank agrees to let a house sell for less than the amount of their outstanding loan.   

• Bank of America is offering 5k-30k
• Chase is offering 10k-55k on their older WAMU products.
• Wachovia and Wells Fargo Financial: 5-15k

In addition, the Home Affordable ForeclosureAlternatives (HAFA) program provides $3,000 in relocation assistance at the close of an FHA short sale.

Don’t Sell Yourself Short

The summer market has been sizzling and one surprising beneficiary has been sellers who had assumed they were in for a short sale.  Some recently listed “short sales” have received multiple offers.  Through the miracle of competition, the price has been driven up enough in some instances to bridge the loan gap and turn the short sale into a traditional sale.  This is great news for sellers’ resulting credit.  Don’t assume your house is underwater.  The tides are turning. 

Wait, What? Seven Things You Probably Don’t Want To Know About the Snails in Your Garden

1. Question: “Why are there so (insert expletive) many of them??!!” Answer: Many snails are hermaphroditic, so when two snails mate both snails can lay eggs. Snails lay about 60 eggs at a time and can do so up to six times a year. A particularly fertile snail couple could produce 720 baby slimers a year.  

2. Snails have teeth. They have hundreds, sometimes thousands, of tiny teeth set in a ribbon-like structure called a radula. On a quiet night, if you listen very closely, you can hear the tiny grinding sound.

3. Snails keep the same shell all of their lives. A snail hatches from its egg with a small, weak shell. The newborn eats its egg and the calcium helps harden the shell. The shell grows with the snail until it reaches full adulthood.

4. Some people use snail slime as a face cream. Yes they do.

5. Snails can shut the front door. The bottom of a snail’s body is called a foot. Some species develop a tough part of the foot called an operculum. When the soft parts of the snail’s body are retracted into the shell, the snail seals itself in with the operculum. The operculum grows to fit the size and shape of the shell’s opening.

6. Once a snail colony makes your garden home, there is little you can do about it. Well, there’s plenty you can do about it but not much that works. Some popular methods of trying are beer traps, copper barriers, eggshells, night squashing or relocating raids, and chemicals. When all else fails, you can grow plants snails don’t like to eat. Snails, unfortunately, cannot be trained to eat only weeds.

7. Can’t beat ‘em? Eat ‘em! Escargo, anyone?

For more on these swirl-backed slime trailers, visit www.snail-world.com and good luck if you are battling them in your garden.

Buyers Are Back-- But Where Are The Sellers?

First, the good news: Buyers are back. People are talking about the return of multiple offers.  With rare for-sale-sign sightings, a few lucky sellers are reaping the rewards of robust competition. But, where are the rest of the sellers? There are several aspects of the current economic climate that continue to keep homes off the market.

Why Sellers Hold Back:

• Family Matters: Families who want to move may have their money tied up in the equity of their current house.  In the past, there were lots of lenders who would give them short term “bridge” loans.  Bridge loans allowed the family to buy a new home, move out, and then sell the original house.  Some bridge loans still exist, with tighter restrictions: the homeowner must qualify to pay the mortgage on both homes.  In the past, some rental income value was attributed to the old house which helped with the income qualifications.  Now those options are gone for many.  What this means is that these homeowners must decide to sell their home first, without having a home to move into.  The family then rents while they look for a new home with the liquidated equity from their first home.  This is harder on families because often it feels too difficult to risk moving their children twice, particularly if the moves may put them in and out of different school districts.
• Less Equity: Many homeowners have lost equity because of market decline over the past several years.  If these homeowners don’t have a compelling reason to move, it is unlikely they will choose to sell at a loss.  Many of these homeowners prefer to hang tight until the market improves and they gain back some equity.
• Decreased Ability to Borrow: Buyers who may have expected to move up the property ladder by now feel stuck when they find out they qualify for fewer loans.  Many buyers qualify for less money because they have lost jobs or elected to take pay cuts to keep their current job. Other homeowners got into their current homes with sub-prime mortgages.  Those options are gone, and therefore that ability to leverage a property is gone too.  Lenders have also tightened up the qualification process.  Even after several years of good behavior, making every payment on their existing mortgage, some borrowers are still qualifying for less now than they could seven years ago.  This hurts homeowners who want to move up and those who simply want to take advantage of the current low rates.  They may want to refinance, which would reduce their monthly payment.  Yet, they can’t qualify for the same mortgage loan amount with a lower payment.

Why Banks Hold Back:

Many economists are concerned about “shadow inventory.”  Shadow inventory is the inventory that banks are holding back from the market.  Banks hold back for a number of reasons:

• Market Depreciation: Banks are concerned that if the foreclosed inventory hit en masse it would depreciate the market and make all their real estate holdings worth less.
• Bookkeeping and Timing:  It can be worthwhile for a bank to delay foreclosure in order to retain the positive asset of an existing loan, rather than reporting the loss to their investors.
• Government Incentives: Big banks delaying foreclosure can still qualify for incentives from the federal government for continuing to “help” homeowners in distress. According to Nick Timiraos of the Wall Street Journal, "banks owned about 450,000 properties at the end of March, but there were an additional two million loans in some stage of foreclosure and around 1.7 million more where mortgage payments hadn't been made in more than 90 days."

If you are considering selling, talk to a Realtor.  Our local market is buzzing and you might be surprised by your home's current worth.  This buyer frenzy might be a blip worth cashing in on.  A true real estate market rally will likely be slow and will depend on a more robust economic recovery and on more private investors coming forward to fill the lending gap.  Lending conditions were too loose in the past and needed to be reformed.  However, now the pendulum has swung far in the opposite direction.  Tight lending is making it difficult for homeowners and therefore the housing market to move.