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<title>The Symon Group Blog</title>
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<description>Syndicated BLOG from The Symon Group.</description>
<language>en-us</language>
<copyright>Copyright 2012 The Symon Group</copyright>
<lastBuildDate>Sat, 19 May 2012 15:55:38 -0700</lastBuildDate>
<webMaster>symon@apr.com (The Symon Group)</webMaster><item><title>New Listing in Downtown Palo Alto!</title><link>http://www.thesymongroup.com/3481699</link><description><![CDATA[<p>Presenting the classic style of Palo Alto, this spacious downtown property offers two separate living quarters with ample flexibility – live in one and rent the other, rent both units, or possibly convert to a single-family residence (buyer to confirm with the City of Palo Alto). Updated   [...]</p>]]></description><content><![CDATA[<img src='http://www.thesymongroup.com/files/images/150344-m.jpg' right style='display: inline; float: right; margin: 0 0 10px 20px;' class='img_m'  alt='' /><p>Presenting the classic style of Palo Alto, this spacious downtown property offers two separate living quarters with ample flexibility – live in one and rent the other, rent both units, or possibly convert to a single-family residence (buyer to confirm with the City of Palo Alto). Updated and remodeled with a total living space of 1,746 square feet, each residence is bright and inviting with 2 bedrooms, 1 bath, a spacious living room, and eat-in kitchen – plus the added bonus of a 3-car detached garage and offstreet parking – the ultimate for downtown Palo Alto living. And with the home’s location just one and a half blocks to shopping, dining, and night life on University Avenue, this treasured property offers endless appeal!</p>
<p><em><strong>332 Kipling Street</strong></em></p>
<p>• 2 bedrooms and 1 bath</p>
<p>• Covered front porch entrance</p>
<p>• Hardwood floors in the living room and bedrooms</p>
<p>• Spacious living room with glass pocket doors for privacy from the kitchen</p>
<p>• All-white remodeled kitchen and dining area with vinyl flooring and wainscot paneling</p>
<p>• Two sizable bedrooms, one with built-in sleeping area surrounded with open shelving plus ladder access to the loft, which has air conditioning and 2 operational skylights</p>
<p>• Beautifully remodeled bathroom with tall wainscot paneling, honeycomb tiled floor, and tub with overhead shower</p>
<p><em><strong>330 Kipling Street</strong></em></p>
<p>• 2 bedrooms and 1 bath</p>
<p>• Private entrance from the rear driveway</p>
<p>• Carpeting in the living room and bedrooms</p>
<p>• Living room with side-by-side windows opens to the kitchen</p>
<p>• Bright, updated kitchen with dining area and front door entrance</p>
<p>• Hall bath with shower</p>
<p><em><strong>Common Features</strong></em></p>
<p>• Detached 3-car garage plus off-street parking</p>
<p>• Laundry facilities with sink in the garage</p>
<p>• Award-winning and coveted Palo Alto School District</p>
<p>We'll be open Friday, April 20th from 9:30am to 1:00pm and Sunday, April 22nd from 1:30pm to 4:30pm.</p>]]></content><pubDate>Thu, 19 Apr 2012 14:12:00 -0700</pubDate><guid>http://www.thesymongroup.com/3481699</guid><dc:creator>ScottSymon</dc:creator><category>Scott&#039;s Blog</category></item><item><title>Las Vegas Sprawl</title><link>http://www.thesymongroup.com/3476988</link><description><![CDATA[<p>We all know Las Vegas as one of the poster children of the housing bubble.  Here is a fascinating compilation of NASA satillite image of the sprawl Las Vegas has experienced since 1972.  I know it hs nothing to do with Bay Area real estate, but it is still fascinating ... or terrifying.</p>]]></description><content><![CDATA[<p>We all know Las Vegas as one of the poster children of the housing bubble.  Here is a fascinating compilation of NASA satillite image of the sprawl Las Vegas has experienced since 1972.  I know it hs nothing to do with Bay Area real estate, but it is still fascinating ... or terrifying.</p>]]></content><pubDate>Wed, 21 Mar 2012 11:07:00 -0700</pubDate><guid>http://www.thesymongroup.com/3476988</guid><dc:creator>ScottSymon</dc:creator><category>Scott&#039;s Blog</category></item><item><title>New San Mateo Listing</title><link>http://www.thesymongroup.com/3472113</link><description><![CDATA[<p>Situated in a wonderful San Mateo neighborhood, this charming remodeled ranch-style home offers the ideal combination of home and community.  It provides an open and spacious floorplan that is ideal for everyday living, as well as entertaining.  Its location provides easy access to many of   [...]</p>]]></description><content><![CDATA[<img src='http://www.thesymongroup.com/files/images/146601-m.jpg' right style='display: inline; float: right; margin: 0 0 10px 20px;' class='img_m'  alt='' /><p>Situated in a wonderful San Mateo neighborhood, this charming remodeled ranch-style home offers the ideal combination of home and community.  It provides an open and spacious floorplan that is ideal for everyday living, as well as entertaining.  Its location provides easy access to many of San Mateo’s most desirable offerings.</p>
<ul>
<li>Approximately 1,640 square feet of living space situated on a lot of approximately 6,710 square feet</li>
<li>Four bedrooms and two remodeled bathrooms</li>
<li>The spacious master suite features French doors leading to the rear yard and a bathroom with richly stained custom cabinetry and marble countertops</li>
<li>Gourmet kitchen features crisp white cabinetry, stainless steel appliances granite countertops, and bar seating opens to the spacious living room and dining room</li>
<li>Elegant living room features hardwood floors, built-in speakers, floor-to-ceiling windows opening to the rear yard, and a fireplace surrounded by built-in cabinetry</li>
<li>Professionally landscaped yard with flagstone patio, low voltage lighting, and a path leading to a panoramic bay view</li>
<li>Covered rear patio with recessed lighting and outdoor speakers</li>
<li>Dual-pane windows throughout much of the home</li>
<li>Conveniently located near Laurelwood Shopping Center, Beresford Park, and several commute routes</li>
</ul>
<p>We will be open Tuesday, March March 13th from 9:30am to 1:30pm and Sunday, March 18th from 1:30pm to 4:30pm.  Please stop by to enjoy this home and refreshments!</p>]]></content><pubDate>Mon, 12 Mar 2012 08:32:00 -0700</pubDate><guid>http://www.thesymongroup.com/3472113</guid><dc:creator>ScottSymon</dc:creator><category>Scott&#039;s Blog</category></item><item><title>Alain Pinel Realtors Celebrates Twenty Years</title><link>http://www.thesymongroup.com/3470764</link><description><![CDATA[]]></description><content><![CDATA[]]></content><pubDate>Wed, 07 Mar 2012 14:31:00 -0800</pubDate><guid>http://www.thesymongroup.com/3470764</guid><dc:creator>ScottSymon</dc:creator><category>Scott&#039;s Blog</category></item><item><title>New Menlo Park Listing!</title><link>http://www.thesymongroup.com/3470011</link><description><![CDATA[<p style="text-align: left;">We've just listed a wonderful Menlo Park property, and we will be open Sunday afternoon between 1:30 and 4:30 pm!</p>
<p style="text-align: left;">This home presents modern Craftsman appeal in a tranquil setting beneath towering redwoods. An inviting front por  [...]</p>]]></description><content><![CDATA[<img src='http://www.thesymongroup.com/files/images/145248-m.jpg' right style='display: inline; float: right; margin: 0 0 10px 20px;' class='img_m'  alt='' /><p style="text-align: left;">We've just listed a wonderful Menlo Park property, and we will be open Sunday afternoon between 1:30 and 4:30 pm!</p>
<p style="text-align: left;">This home presents modern Craftsman appeal in a tranquil setting beneath towering redwoods. An inviting front porch is the perfect introduction to the chic and sophisticated interiors with beautiful hardwood floors, plantation shutters, and a crisp clean palette of colors. The two-story floor plan includes 3 bedrooms and 3 bathrooms plus a detached guest house with full kitchen and bath. An enchanting rear patio plus access to excellent Las Lomitas schools complete this wonderful home in West Menlo Park.</p>
<p style="text-align: left;"><strong><span style="text-decoration: underline;">Summary of the Home</span></strong></p>
<p>• Approximately 2,490 square feet of living space</p>
<p>• 3 bedrooms and 3 bathrooms plus detached 1-bedroom, 1-bath guest house</p>
<p>• Hardwood floors and plantation shutters</p>
<p>• Elegant living room with wood-burning fireplace plus formal dining room</p>
<p>• Gourmet kitchen with whitewashed oak cabinetry, black granite counters, and stainless steel appliances opens to the family room with fireplace</p>
<p>• Main-level full bath plus upstairs master bedroom suite, two additional bedrooms, and a full bath; all bathrooms updated with marble finishes</p>
<p>• Guest house, approximately 500 square feet, with living/sleeping area, full kitchen, and bathroom</p>
<p>• Upstairs laundry room, security alarm system, fire sprinklers, and 2-car detached garage</p>
<p>• Professionally landscaped and fully fenced yard with Connecticut bluestone terrace and towering redwoods</p>]]></content><pubDate>Tue, 06 Mar 2012 13:33:00 -0800</pubDate><guid>http://www.thesymongroup.com/3470011</guid><dc:creator>ScottSymon</dc:creator><category>Scott&#039;s Blog</category></item><item><title>November Market Update</title><link>http://www.thesymongroup.com/3440099</link><description><![CDATA[<p>Nationwide, there are currently about 3.48 million homes for sale, but as we enter the autumn and winter seasons, available housing inventory will typically decrease and real estate activity will slow. The National Association of Realtors predicts that this number will probably drop to less tha  [...]</p>]]></description><content><![CDATA[<p>Nationwide, there are currently about 3.48 million homes for sale, but as we enter the autumn and winter seasons, available housing inventory will typically decrease and real estate activity will slow. The National Association of Realtors predicts that this number will probably drop to less than 3 million over the next few months. Meanwhile, would-be buyers will shift their focus towards the holidays, waiting for the boost in available properties that usually comes in the spring.<strong> </strong></p>
<p>On a local level, our inventory is also low but unlike the national statistics, we have many buyers who are eager to purchase a home, despite the approaching holidays!</p>
<p>Looking forward, there are good indicators that some areas will see significant changes in the market next year:</p>
<ul>
<li>New residential construction surged 15% in September - the best performance in 17 months.</li>
<li>Mortgage applications increased 1.3% for the week ending October 7, 2011, according to the Mortgage Bankers Association.</li>
<li>Pending home sales this past September were 6.4% higher than in September of 2010.</li>
</ul>
<p><strong>SOMETHING TO THINK ABOUT:</strong></p>
<p>Is this a good time to buy a rental property?</p>
<p>Lower home prices in some areas combined with low interest rates make this the best time in years to become a real estate investor. News sources like <a href="http://www.msnbc.msn.com/id/42557802/ns/business-real_estate/t/rental-market-swings-back-favor-landlords/">MSNBC </a>have been reporting a strong rental market since summer, calling it a “landlord’s market” in many cities and anticipating rising rents.</p>
<p>If you’re considering purchasing a property to rent, location is of prime importance. Safe neighborhoods that are near good schools and public amenities like parks, public transportation, and shopping districts are especially attractive to renters. What type of property are you interested in buying? Condominiums can be a good choice for first-time investors. But they appreciate more slowly and command smaller rents. Single-family homes tend to attract longer term renters. Also, don’t forget duplexes, triplexes and fourplexes which are great investment opportunities.</p>
<p>Now is a great time to buy an investment property. Let’s talk about your options.</p>
<p><strong>IS YOUR HOUSE READY FOR WINTER?</strong></p>
<p>The following tips will help you save money on your heating bills in the upcoming colder months.<strong> </strong></p>
<p><strong>Add insulation in your attic</strong> – Do you have enough insulation in your attic? The US <a href="http://www.energysavers.gov/tips/insulation.cfm">Department of Energy</a> has some helpful recommendations on insulation levels at their <a href="http://www.energysavers.gov/tips/insulation.cfm">website</a>. They even have a <a href="http://www.ornl.gov/~roofs/Zip/ZipHome.html">calculator </a>that will tell you based on your zip code how much you should have in your home. When adding new insulation atop old insulation, don’t use the kind with paper backing. It forms a vapor barrier that can cause moisture problems in the existing insulation.</p>
<p><strong>Maintain your ducts</strong> – You can lose up to 60% of your heat through ducts. If you’ve had your system for awhile, consider hiring a professional heating and cooling contractor to locate and seal areas where you may be losing warm air. If you’re in an especially cold climate and your ducts pass through unheated spaces like a basement, insulate them.</p>
<p><strong>Reverse your fans</strong> – If your ceiling fans have reverse settings, run them in cold months; they’ll push warm air downward, circulating it throughout the room.</p>
<p><strong>Block drafts</strong> – Cold air coming from beneath doors can waste up to 30% of your energy bill. Stuff a necktie or a scrap of fabric sewn into the shape of a tube with sand or kitty litter (or just roll up a towel) and lay it at the base of the door.</p>
<p><strong>Lower the thermostat</strong> – For every degree you lower your thermostat, you can save up to 3% on your monthly heating bill.</p>
<p><strong>Replace filters</strong> – Clogged air filters restrict airflow and add to your energy bill. Replace them once a month during the winter. Better yet, with reports suggesting that disposable filters trap as little as 10-40% of debris, consider replacing yours with a HEPA filter. HEPA filters can remove up to 99.97% of airborne particles.</p>
<p><strong>Buy an energy monitor</strong> – There are two kinds of energy monitors. Smart Plugs plug into an individual outlet and calculate the amount of energy being used by a single appliance. Energy (or power) monitors for the whole house track energy usage at your breaker panel. You can find out in real time how much energy you’re using, how much it’s costing you, and how much you’ll save just by turning off an extra light or any appliances like laptops and televisions that have standby modes. Research has shown that people who use power monitors naturally become more aware of - and reduce - their usage. Shop your local home appliance store for an energy monitor and save on your overall power bill this winter.</p>
<p><strong>FINANCIAL UPDATE:</strong></p>
<p>September and October saw home refinance activities reach an all time high.  With interest rates so low, it is also a great time for homebuyers as well as investors to purchase real estate properties.  Non-conforming (otherwise known as jumbo) loan rates, are at an all time low.  In fact, for many buyers who qualify, they are seeing jumbo rates on par with standard conforming rates.  Remember, with the change in the conforming level, any loan that is above $625,500 is considered a jumbo loan.  Below are rates for purchase transactions:</p>
<p>CONFORMING (up to $417,000)</p>
<p>30 year fixed: 4.0%</p>
<p>15 year fixed: 3.25%</p>
<p>7/1 ARM: 2.625%</p>
<p> </p>
<p>HIGH BALANCE CONFORMING (up to $625,500)</p>
<p>30 year fixed: 4.0%</p>
<p>15 year fixed: 3.25%</p>
<p>7/1 ARM: 2.75%</p>
<p> </p>
<p>NON-CONFORMING (over $625,500)</p>
<p>30 year fixed: 4.25%</p>
<p>15 year fixed: 3.75%</p>
<p>7/1 ARM: 3.25%</p>
<p> </p>]]></content><pubDate>Thu, 10 Nov 2011 12:40:00 -0800</pubDate><guid>http://www.thesymongroup.com/3440099</guid><dc:creator>ScottSymon</dc:creator><category>Scott&#039;s Blog</category></item><item><title>September Market Update</title><link>http://www.thesymongroup.com/3435478</link><description><![CDATA[<table border="0" cellspacing="0" cellpadding="0" width="650">
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<p><strong>Real Estate Update</strong></p>
<p> </p>
<p>Can you believe that it is already September!  When I reflect on  [...]</p></td></tr></tbody></table>]]></description><content><![CDATA[<table border="0" cellspacing="0" cellpadding="0" width="650">
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<p><strong>Real Estate Update</strong></p>
<p> </p>
<p>Can you believe that it is already September!  When I reflect on the real estate market over this last year, I feel so fortunate to be selling on the peninsula. Our market continues to be strong, but it was slower over the summer. We are still experiencing multiple offers, however, especially in Palo Alto.  There was one home that was listed by another brokerage in Old Palo Alto that had 30 offers on it!  It was priced at 1.1 million dollars, which was considerably lower than the most recent sales in the area.  It ended up selling for close to 2 million!</p>
<p>On a national level, the sales numbers have been more inconsistent but are much better than last year.  In the West,<strong> </strong>pending home sales rose 3.6 % from June to July and are now 20.6% above July 2010. In the Midwest while sales slipped 0.8 % for that same period, overall sales were still 9.7% above July 2010. In the South: sales fell 4.8% but were still 9.5% higher than July 2010. In the Northeast sales fell 2% but were 9.7% above July 2010.</p>
<p>The underlying factors that usually signal an upswing in the real estate market include the following: rising rents, higher affordability and more investors buying real estate as a hedge against inflation. Also, improvement in lending standards has given more buyers the confidence to act.</p>
<p><strong>Something to think about:</strong></p>
<p>The recent reports of natural disasters have been making me wonder, “Do I have adequate homeowner’s insurance in case of an earthquake or flood?” According to the <a href="http://www.iii.org/">Insurance Information Institute </a>, about 5,000 earthquakes occur in the U.S. every year. Yet even in earthquake-prone California, just 12 percent of homeowners have earthquake coverage. Four out of every five natural disasters involve flooding, yet less than one in five homes nationwide are covered by flood insurance.</p>
<p>The price tag for repairing flood damage to residential properties caused by Hurricane Irene could top $59 billion. An estimated 900,000 properties were damaged and many, if not most, are not covered by flood insurance according to <a href="http://www.corelogic.com/">CoreLogic</a>. The average flood insurance policy in 2010 cost about $600 per year. The average claim over the past five years was about $34,000 according to the Federal Emergency Management Agency.</p>
<p>If you have questions, I suggest you read your policy or call your insurance agent. If you need some referrals, give me a call.</p>
<p> </p>
<p><strong>Mortgage News</strong></p>
<p>Mortgage interest rates are at an all time low, and homeowners are taking advantage of this in both purchases and refinances.  Even though we no longer have the $729,750 temporary loan limit, we are still able to provide for a high balance conforming up to $625,500.  In addition, by coupling a line of credit with this high balance conforming loan, you would still be able to borrow up to $729,750 (or higher) without going into jumbo territory!  Speaking of jumbos, there happens to be a jumbo purchase promotion going on, resulting in unbelievable mortgage rates.</p>
</td>
</tr>
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</table>]]></content><pubDate>Mon, 05 Sep 2011 00:54:00 -0700</pubDate><guid>http://www.thesymongroup.com/3435478</guid><dc:creator>ScottSymon</dc:creator><category>Scott&#039;s Blog</category></item><item><title>Market Facts for the Week of July 18th</title><link>http://www.thesymongroup.com/3430930</link><description><![CDATA[<p>Calif. median home price: May 2011: $$291,760 (Source: C.A.R.)</p>
<p>Calif. highest median home price by region/county May  2011: San Mateo: $810,000 (Source: C.A.R.)</p>
<p>Calif. lowest median home price by region/county May 2011: Merced $113,000 (Source: C.A.R.)<br />  [...]</p>]]></description><content><![CDATA[<p>Calif. median home price: May 2011: $$291,760 (Source: C.A.R.)</p>
<p>Calif. highest median home price by region/county May  2011: San Mateo: $810,000 (Source: C.A.R.)</p>
<p>Calif. lowest median home price by region/county May 2011: Merced $113,000 (Source: C.A.R.)<br /><br />Calif. Pending Home Sales Index: June 2011: 119, an increase of 1.9 percent compared with prior month. (Source: C.A.R.)<br /> <br />Calif. First-time Buyer Affordability Index: First quarter 2011: 53 percent (Source: C.A.R.)<br /><br />Mortgage rates: Week ending 7/14/2011 30-yr. fixed: 4.51 fees/points: 0.7% 15-yr. fixed: 3.65 fees/points: 0.6% 1-yr. adjustable: 2.95% Fees/points: 0.5% (Source: Freddie Mac)</p>]]></content><pubDate>Thu, 21 Jul 2011 05:00:00 -0700</pubDate><guid>http://www.thesymongroup.com/3430930</guid><dc:creator>ScottSymon</dc:creator><category>Scott&#039;s Blog</category></item><item><title>June Market Update</title><link>http://www.thesymongroup.com/3428344</link><description><![CDATA[<p>It is difficult to accurately assess the bay area real estate market because of the many micro markets that exist within its boundaries.  For example, Palo Alto continues to be the shining star with almost every listing generating multiple offers.  The surrounding cities of Los Altos, Mount  [...]</p>]]></description><content><![CDATA[<img src='http://www.thesymongroup.com/files/images/103444-m.jpg' right style='display: inline; float: right; margin: 0 0 10px 20px;' class='img_m'  alt='' /><p>It is difficult to accurately assess the bay area real estate market because of the many micro markets that exist within its boundaries.  For example, Palo Alto continues to be the shining star with almost every listing generating multiple offers.  The surrounding cities of Los Altos, Mountain View, Menlo Park and the rest of the Mid Peninsula are also experiencing an increase in activity.  But there are some markets that continue to struggle, especially in the South and East Bay.  Also, low inventory continues to be a problem in all areas, with not enough housing to satisfy the many buyers coming through our open houses.</p>
<p>Last month was a very successful month for our office with 75 sales and over $118,000,000 in gross sales volume.  This is almost double what we posted last year and the third month in a row that we have exceeded $100,000,000 in sales.  We are very much aware that these numbers are not just the result of our hard work and effort- but the uniqueness of the market place which we serve.</p>
<p><strong>Something to Think About</strong></p>
<p>Today’s buyers seem to be more attracted to a new or remodeled home as oppose to a fixer-upper.  In existing homes, newly remodeled kitchens, bathrooms and family rooms are high on everyone’s wish list.  If you are selling, it’s important to have as many updated amenities as possible in order to get you the highest price.<strong> </strong></p>
<p>This trend is reflected in the National Association of Home Builders’ Remodeling Market Index (RMI), which measures the amount of remodeling activity in the market.  The RMI rose to 46.5 in Q1 of 2011, compared to 41.5 in Q4 of 2010.  This marks the highest level for the RMI since Q4 of 2006.</p>
<p><strong>Mortgage News</strong></p>
<p>Given the fluxuations in the financial market over the past week, interest rates took a turn for the better.  This is great timing as it may be the last time to get locked into a high balance conforming loan program for a low interest rate.  While these loans have been mostly utilized by homeowners for their primary residence, they are in fact also applicable for investment properties as well.  If you are thinking of purchasing investment property, this is great time to get an investment property loan for up to $729,750, with as little as 35% down payment.</p>
<p><strong>Current Interest Rates</strong></p>
<p>CONFORMING (up to $417,000)</p>
<p>30 year fixed: 4. 5%</p>
<p>15 year fixed: 4.0%</p>
<p>7/1 ARM: 3.375%</p>
<p>5/1 ARM: 3.0 %</p>
<p> </p>
<p>HIGH BALANCE CONFORMING (up to $729,750)</p>
<p>30 year fixed:  4.625%</p>
<p>15 year fixed: 4.125%</p>
<p>7/1 ARM:  3.625%</p>
<p>5/1 ARM: 3.25%</p>
<p> </p>
<p>NON-CONFORMING (over $729,750)</p>
<p>30 year fixed: 5.0%</p>
<p>5/1 ARM: 3.625%</p>]]></content><pubDate>Fri, 10 Jun 2011 08:00:00 -0700</pubDate><guid>http://www.thesymongroup.com/3428344</guid><dc:creator>ScottSymon</dc:creator><category>Scott&#039;s Blog</category></item><item><title>New Ladera Listing for Modern Architecture Lovers</title><link>http://www.thesymongroup.com/3427486</link><description><![CDATA[<p>Situated in the coveted community of Ladera, this Leonard Lincoln designed redwood home offers the ideal living environment to enjoy the surrounding area’s natural beauty. The open floor plan with expansive decks and floor-to-ceiling windows is highlighted by breath-taking views of San Franci  [...]</p>]]></description><content><![CDATA[<img src='http://www.thesymongroup.com/files/images/102268-m.jpg' right style='display: inline; float: right; margin: 0 0 10px 20px;' class='img_m'  alt='' /><p>Situated in the coveted community of Ladera, this Leonard Lincoln designed redwood home offers the ideal living environment to enjoy the surrounding area’s natural beauty. The open floor plan with expansive decks and floor-to-ceiling windows is highlighted by breath-taking views of San Francisco Bay, the Stanford Foothills and eastern hills from Mt. Diablo to Mt. Hamilton.  Additionally, this home is ideally located to take advantage of Portola Valley's open spaces while remaining in close proximity to the many amenities of the Ladera shopping center and several commute routes. Enjoy tennis, swimming, and family activities at the Ladera Recreation Center at affordable resident rates.</p>
<p> </p>
<p>The home will be open this Tuesday, May 31st from 9:30am to 1:00pm, as well as this Saturday and Sunday, June 4th &amp; 5th from 1:30 to 4:30pm.</p>
<p>More details and photos can be found <a href="http://www.122pecora.com">HERE</a>.</p>]]></content><pubDate>Sun, 29 May 2011 16:00:00 -0700</pubDate><guid>http://www.thesymongroup.com/3427486</guid><dc:creator>ScottSymon</dc:creator><category>Scott&#039;s Blog</category></item><item><title>May Market Update</title><link>http://www.thesymongroup.com/3426635</link><description><![CDATA[<p>The spring market continues to be in full swing.  As is typical, Palo Alto is leading the way with high demand, multiple offers and increasing prices.  Prices in Palo Alto are starting to edge toward the peak prices of 2007-2008.   For example, a home in Palo Alto, which was listed at $1  [...]</p>]]></description><content><![CDATA[<p>The spring market continues to be in full swing.  As is typical, Palo Alto is leading the way with high demand, multiple offers and increasing prices.  Prices in Palo Alto are starting to edge toward the peak prices of 2007-2008.   For example, a home in Palo Alto, which was listed at $1.3M sold for $1.6M with 18 offers.  Surrounding areas such as Los Altos, Mountain View, Menlo Park and other parts of the Peninsula are also starting to see such activity, but at a lesser rate.  We just recently had a home listed for $849,000 in Menlo Park, which we all thought was an outstanding value.  It did have multiple offers, but did not sell for full price.   Also, it was reported that one of our listings in Belmont had 4 offers the first week but all were under the asking price!  So, what does all this mean?  The good news for sellers right now is that there is an abundance of buyers in the market.  But , sellers need to be careful with pricing, especially in those areas that aren’t experiencing as much demand.<br /> <br />The other continuing trend are the sales of high end homes in Palo Alto and Atherton,  which have recently included multiple offers on $5million + homes.<br /><br />The investment market is also very active right now due to two driving forces.  One, foreign investors are looking to invest in US real estate and two, the fundamentals are extremely positive.   By fundamental I mean, declining vacancies, increasing rents (average rents are up approx  7% since 2006), and the ability to produce positive cash flow from day one in some cases.  Just a few years ago, it was nearly impossible to have break-even or positive cash flow in the Bay Area with 25%-30% down.</p>
<p><br />Mortgage News<br /><br />Currently, the high balance conforming loan program allows homeowners to purchase or refinance a loan up to $729,750 at preferred conforming rates.  These rates are indirectly subsidized by the federal government through Fannie Mae/Freddie Mac repurchase programs.  According to top banking executives, there is very little change the high balance conforming loan program will get extended beyond the current expiration date of September 30, 2011.  Most experts believe that the new conforming loan amount will be $625,000 (or less).  If you are planning to take on a loan in the amount of $417,001 to $729,750, now is the time to take advantage of this program before it expires. <br /><br />Here are the Current Interest Rates:<br /><br />CONFORMING (up to $417,000)<br />30 year fixed: 4. 625%<br />15 year fixed: 4.25%<br />7/1 ARM: 3.5 %<br />5/1 ARM: 3.125 %<br /> <br />HIGH BALANCE CONFORMING (up to $729,750)<br />30 year fixed:  4.75%<br />15 year fixed: 4.25%<br />7/1 ARM:  3.625%<br />5/1 ARM: 3.375%<br /> <br />NON-CONFORMING (over $729,750)<br />30 year fixed: 5.375%<br />5/1 ARM: 4.25</p>]]></content><pubDate>Wed, 11 May 2011 15:00:00 -0700</pubDate><guid>http://www.thesymongroup.com/3426635</guid><dc:creator>ScottSymon</dc:creator><category>Scott&#039;s Blog</category></item><item><title>March Update</title><link>http://www.thesymongroup.com/3419028</link><description><![CDATA[<p>The uptrend in existing-home sales continues, with January sales rising for the third consecutive month with a pace that is now above year-ago levels.<br /> <br />Lawrence Yun, NAR chief economist, said the improvement is good but could be better. “The uptrend in home sales is consistent with   [...]</p>]]></description><content><![CDATA[<p>The uptrend in existing-home sales continues, with January sales rising for the third consecutive month with a pace that is now above year-ago levels.<br /> <br />Lawrence Yun, NAR chief economist, said the improvement is good but could be better. “The uptrend in home sales is consistent with improvements in the economy and jobs, which are helping boost consumer confidence,” Yun said. “The extremely favorable housing affordability conditions are a big factor, but buyers have been constrained by unnecessarily tight credit. As a result, there are abnormally high levels of all-cash purchases, along with rising investor activity.”<br /><br />A recent NAR survey for January 2011 gives more insight into the market:<br />29% of purchases were made by first-time home buyers<br />23% were made by investors<br />48% were made by repeat buyers<br />Cash sales rose to 32% of all transactions<br />“Increases in all-cash transactions, the investor market share and distressed home sales all go hand-in-hand. With tight credit standards, it’s not surprising to see so much activity where cash is king and investors are taking advantage of conditions to purchase undervalued homes,” Yun said.<br /><br />At a local level, our sales are up 20% and prices are increasing as a result of more multiple offers. The higher priced homes are also starting to move with multiple offers being reported on homes priced at $3,000,000 and above. We have had a number of high end sales reported in Palo Alto, Menlo Park and Atherton. <br /><br />Tax News…<br /><br />The federal tax cuts in 2001 lowered estate taxes over 10 years. These cuts brought the existing estate tax rate from a high of 55% to 35% over a 10-year period. The 35% estate tax rate was to stay in effect through the end of 2009. Then, estate taxes were set to disappear in 2010 and finally return to pre-tax cut levels at the start of 2011<br /><br />Now, there are changes that have taken place for tax years 2011 and 2012. The new law sets federal estate tax rate at a flat 35%. In addition to this lowered rate, there are addition benefits:<br /><br />·         The number of people affected by the estate tax are reduced as estates under $5 million are not subject to any taxation. The limit was previously $3.5 million.<br /><br />·         The $5 million estate tax exemption is now portable, which allows for easier post-death planning. After the death of the first spouse, any unused portion of the spouse’s $5 million exemption may go into the other spouse’s estate.<br /><br />·         The bill now increases the total lifetime exclusion for gift giving to $5 million (previously $1 million), but unifies the estate gift and generation skipping taxes. So, if a taxpayer leaves $4 million to a generation skipping trust for grandchildren at death, then $1 million would be left for exemption. If someone gives away $5,000,000 tax-free during their life, then the entire estate is taxable.<br /><br />·         The revision also gives estates of 2010 the choice of whether to use 2010 or 2011 estate tax rules. This is important because even though in 2010 there was no estate tax, there was a change in the capital gains tax of the estate. Prior to 2010, estates got a stepped-up cost basis (value to current market) for any assets in the estate. Thus, a property bought 20 years ago for $100,000 that is worth $500,000 today, would go into the estate as $500,000. But, in 2010, it would go into the estate at $100,000 and the heirs would have to pay a capital gains tax on the difference.<br /><br />Please check with your accountant with questions regarding this.<br /><br />Mortgage Update<br /> <br />The big question these days is what will the government do with Fannie Mae and Freddie Mac, the two organizations that are the backbone of the US housing industry.  By buying up mortgages, Fannie and Freddie keep mortgage financing readily available and at historic low interest rates.  Without their involvement and continued government support, interest rates would likely be much higher, mortgage availability and terms would be more restrictive, and the "30-Year mortgage" may even fade away.  Since the current national dialogue is leaning against federal involvement, with mounting pressure on cutting the federal budget, it is likely that the subsidies funding Fannie and Freddie will either diminish or go away.  Either way, right now is still a great time to purchase a home -- before these changes bring yet another transformation to the housing market.<br /> <br />CONFORMING (up to $417,000)<br />30 year fixed: 4.875%<br />15 year fixed: 4.25%<br />7/1 ARM: 3.875%<br />5/1 ARM: 3.5%<br /> <br />HIGH BALANCE CONFORMING (up to $729,750)<br />30 year fixed: 5.0%<br />15 year fixed: 4.25%<br />7/1 ARM: 4.125%<br />5/1 ARM: 3.75%<br /> <br />NON-CONFORMING (over $729,750)<br />30 year fixed: 5.5%<br />5/1 ARM: 4.125</p>]]></content><pubDate>Wed, 09 Mar 2011 13:00:00 -0800</pubDate><guid>http://www.thesymongroup.com/3419028</guid><dc:creator>ScottSymon</dc:creator><category>Scott&#039;s Blog</category></item><item><title>February Update</title><link>http://www.thesymongroup.com/3416533</link><description><![CDATA[<p>Spring has arrived early this year and I am not just referring to the beautiful weather!  The local real estate market is showing signs of a typical spring market, with a big increase in activity. Sales in our office were up about 20% in January. Just last week it was reported that one of   [...]</p>]]></description><content><![CDATA[<p>Spring has arrived early this year and I am not just referring to the beautiful weather!  The local real estate market is showing signs of a typical spring market, with a big increase in activity. Sales in our office were up about 20% in January. Just last week it was reported that one of our listings in San Carlos, listed at $800,000, had 12 offers on it!  Also, we just sold a new home in Redwood City for $1,300,000, a new home in Menlo Park for over $4,000,000 and three homes in Palo Alto in the $1.2 to $1.500,000 range. All of these homes had multiple offers and the sales prices exceeded the list prices. So…… if you are thinking of selling in the future, we suggest you move your time frame forward and take advantage of this wonderful “spring time” market. <br />Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), credits this upswing to affordability, favorable mortgage rates and an improving economy. Yun predicts, “The positive trend is likely to continue in 2011. Current activity suggests a sustainable, healthy volume of home sales for this year.”<br /><br />Mortgage News from Christine Kani of Private Mortgage Advisors<br /> <br />A recent change in lending makes it harder to qualify for a loan if a borrower is not selling their current home. As of February 12, 2011 rental income may not be used to offset the current mortgage payment on a departure residence unless the borrower can prove 2 years of property management experience as evidenced by their most current 2 years of tax returns. This is a significant change as borrowers can no longer just rent out their current property when purchasing a new one and use the rental income to qualify. <br /> <br />This change has been mandated by the government agencies Freddie Mac and Fannie Mae and does not affect FHA loans.<br /> <br />Current Rates:<br /> <br />Conforming Loans (up to $417,000)<br />30 year fixed           5.00%<br />15 year fixed            4.25%<br />5/1 year fixed           3.375%<br /> <br />High Balance Conforming  (Over $417,000 up to $729,750)<br />30 year fixed           5.125%<br />15 year fixed            4.250%<br />5/1 year fixed           3.750%<br /> <br />Jumbo Loans (over $729,750 up to $1.5 million)<br />30 year fixed           5.625%<br />15 year fixed rate      4.875%<br />5/1 year fixed rate     4.125%<br /> <br />Is a Condominium Better than a Single Family Home?<br /> <br />The answer is it depends on your needs. But, with condominiums, one must do research and understand what is being bought to determine if it is really better.<br /> <br />So, what’s important to look at when it comes to a condominium? First and foremost is to make sure that the Home Owners Association (HOA) is strong financially and has proper management. The key is to read the HOA documents and Covenants, Conditions and Restrictions (CC&amp;R’s). You may also want to have an attorney that specializes in this field review the documents. Also, a call to the property management company would be wise to find out what they do and if there are any issues that may affect the value of the property. Lastly, make sure the condominium has adequate insurance including liability, workman’s compensation, earthquake, etc.<br /> <br />From first time homebuyers attracted to the affordability of a condo to the empty nester that is looking for hassle free living, a condominium could be exactly the right answer. Just make sure you do your homework.</p>]]></content><pubDate>Wed, 09 Feb 2011 16:00:00 -0800</pubDate><guid>http://www.thesymongroup.com/3416533</guid><dc:creator>ScottSymon</dc:creator><category>Scott&#039;s Blog</category></item><item><title>Portola Valley Circa 1964</title><link>http://www.thesymongroup.com/3416171</link><description><![CDATA[<p>Here is a photo of the shopping center located at the corner of Portola Road and Alpine Road around 1964.  Although we have experienced a great deal of change since this photo was taken, it is refreshing to know that a few things remain the same ... almost.</p>]]></description><content><![CDATA[<img src='http://www.thesymongroup.com/files/images/90971-m.jpg' right style='display: inline; float: right; margin: 0 0 10px 20px;' class='img_m'  alt='' /><p>Here is a photo of the shopping center located at the corner of Portola Road and Alpine Road around 1964.  Although we have experienced a great deal of change since this photo was taken, it is refreshing to know that a few things remain the same ... almost.</p>]]></content><pubDate>Sat, 05 Feb 2011 08:00:00 -0800</pubDate><guid>http://www.thesymongroup.com/3416171</guid><dc:creator>ScottSymon</dc:creator><category>Scott&#039;s Blog</category></item><item><title>January Update</title><link>http://www.thesymongroup.com/3412919</link><description><![CDATA[<p>The outlook for real estate is looking brighter than last year.  Lawrence Yun, chief economist for the National Association of Realtors (NAR), says “The market is recovering and we should trend up to a healthy, sustainable level in 2011.”  Yun also added that “ home price prospects w  [...]</p>]]></description><content><![CDATA[<p>The outlook for real estate is looking brighter than last year.  Lawrence Yun, chief economist for the National Association of Realtors (NAR), says “The market is recovering and we should trend up to a healthy, sustainable level in 2011.”  Yun also added that “ home price prospects will vary depending largely upon the local job market conditions.”<br /> <br />California is one state that is seeing home sales rise.  Home sales rose by 9.2% from October to November and continued to increase into December.  On a local level,  our office sales were up 25% this December.  These sales occurred in almost every community on the Peninsula. I am confident that these numbers would be higher if we had more inventory. Also, according to the local newspapers, retail sales were up, restaurants were booked and the hotels were full over the holidays.  This proves once again that we are truly blessed to be living on the Peninsula.<br /> <br />As we have discussed in past updates, the reason for this increased demand is that most people see real estate as one of the most solid investments.  Today you need assets to create wealth, and along with stocks, bonds and gold, real estate is continually at the top for return on investiment.  The true value in real estate is in the land and because our land is limited on the Peninsula, it is almost guaranteed to appreciate over time.  <br /> <br /> <br />A Note on Bond Yields and Interest Rates as to Kick Off 2011<br /><br />As we enter 2011 and the yield on the 10 year treasury hovers close to 3.5%, it is important to note that while long term mortgage interest rates have increased over the past month by nearly .75% in rate (on 30 year fixed), interest rates are nearly identical to what they were 12 months ago.  The point here is that interest rates are still near historic lows when compared across the last few years (or the last 40) and the opportunity for the consumer is still great.  As the economy improves, long term interest rates will increase.  Rising rates aren’t necessarily a bad thing for the housing sector as long as the increases are measured and supported by economic growth and lower unemployment. Overall as we enter the new year, there still exists an outstanding opportunity for homebuyers.<br /><br /> <br />CONFORMING (up to $417,000)<br />30 year fixed: 4.875%<br />15 year fixed: 4.25%<br />7/1 ARM: 4.0%<br />5/1 ARM: 3.625%<br /> <br />HIGH BALANCE CONFORMING (up to $729,750)<br />30 year fixed: 5.125%<br />15 year fixed: 4.25%<br />7/1 ARM: 4.125%<br />5/1 ARM: 3.75%<br /> <br />NON-CONFORMING (over $729,750)<br />30 year fixed: 5.375%<br />5/1 ARM: 4.25<br /> <br />Some interesting facts<br /> <br />According to Carol Radoni of Bamboo consulting, the decline in wealth in the United States this past year is due to the decline in the stock market, not the decline is real estate values.  <br /> <br />·         Household net worth per the Federal Reserve was at 58.5 trillion, which was down 2.8% from 1 year ago.  That leaves the average net worth at about $182,000 per person.<br /> <br />·         We are saving 5-6% currently, compared to 2% in 2007<br /> <br />·         We are more cash reserves, roughly 7%, which is the highest it has been since 1963.<br /> <br />·         Our debt is about $13.5 trillion, which is 111% of annual disposable income--down from 130% in September 2007.</p>]]></content><pubDate>Sat, 22 Jan 2011 13:00:00 -0800</pubDate><guid>http://www.thesymongroup.com/3412919</guid><dc:creator>ScottSymon</dc:creator><category>Scott&#039;s Blog</category></item><item><title>December Update</title><link>http://www.thesymongroup.com/3409583</link><description><![CDATA[<p>The consensus is that our economy is improving and that we should see moderate growth in 2011.  This is good news for the real estate market.  Some of our local markets have already shown signs of improvement reporting an increase in number of sales over last year.   Most recently there h  [...]</p>]]></description><content><![CDATA[<p>The consensus is that our economy is improving and that we should see moderate growth in 2011.  This is good news for the real estate market.  Some of our local markets have already shown signs of improvement reporting an increase in number of sales over last year.   Most recently there have even been multiple offers on some properties—especially in the Palo Alto market place.  The demand for housing continues to exceed our supply on the peninsula. </p>
<p>More good news—the upper end of the market is starting to show signs of recovery as well.  While this part of the market has suffered over the past year, it has been reported over the last few weeks that there have been several sales in the upper end market ($10,000,000+) in Woodside and Atherton.  It was reported that one of the homes sold with multiple offers!</p>
<p>Rich Karlgaard, the publisher of Forbes Magazine recently spoke at the National Association of Realtors (NAR) Convention, in New Orleans. According to Rich, the current market provides a unique opportunity to create wealth accumulation that may not happen again in our lifetime.  This is due to record low interest rates, which should provide a sufficient enough buffer to offset any further declines in market value.</p>
<p>Also, it was reported at the convention that our NAR lobbyists are working very hard to protect homeowners from changes currently being proposed by Congress to help offset the huge budget deficit.  Currently at risk is the mortgage rate deduction, the property tax deduction and  the capital gains exclusion limits on the sale of a principal residence.   I will keep you posted on these issues.</p>
<p><strong>Financial Update </strong></p>
<p>Good News about High Balance Loan Limits!</p>
<p>The high balance loan limit, up to $729,750 in certain counties in California, has been extended by congress through September 2011.  This is great news for many of our buyers as this will continue to provide affordable loans for families purchasing homes in the greater Bay Area.  Remember, this amount is also available as a FHA loan (which allows for as little as 3.5% down payment) as well as the rehab loan.</p>
<p> Even though the loan limit has been extended, whether you are thinking of purchasing or refinancing, take advantage of this high conforming loan limits before the interest rates become volatile once again.</p>
<p> <strong>Something to Think About… </strong></p>
<p> As we enter this season of gratitude, one way to celebrate the spirit of the holidays is to volunteer at a local food bank, church, or non-profit organization and make a difference in the lives of others. If you have older children, this can be a wonderful family activity, teaching life-long lessons of gratitude and helping others.</p>
<p>One of my favorite charities is Shelter Network <a href="http://www.shelternetwork.org/">www.shelternetwork.org</a>. Shelter Network provides housing and support services that create opportunities for families that have lost their homes for various reasons. They help people re-establish self-sufficiency so they can return to a permanent home on their own. Over 90% of their proceeds go directly to the families in need.</p>
<p>I hope you find this information valuable, please contact me if you have any questions.</p>
<p> Happy Holidays!</p>]]></content><pubDate>Fri, 10 Dec 2010 11:00:00 -0800</pubDate><guid>http://www.thesymongroup.com/3409583</guid><dc:creator>ScottSymon</dc:creator><category>Scott&#039;s Blog</category></item><item><title>Original Nordstrom Employee Handbook had Only 75 Words</title><link>http://www.thesymongroup.com/3402493</link><description><![CDATA[<p>Nordstrom Rules: Rule #1: Use best judgment in all situations. There will be no additio  [...]</p>]]></description><content><![CDATA[<p>Nordstrom Rules: Rule #1: Use best judgment in all situations. There will be no additional rules.</p>
<p> </p>
<div style="text-align: center;"><img class="img_custom" style="text-align: center;" title="Old Nordstrom Handbook" src="http://www.thesymongroup.com/files/images/82227-custom.jpg" alt="Old Nordstrom Handbook" /></div>
<p> </p>]]></content><pubDate>Fri, 29 Oct 2010 12:00:00 -0700</pubDate><guid>http://www.thesymongroup.com/3402493</guid><dc:creator>ScottSymon</dc:creator><category>Scott&#039;s Blog</category></item><item><title>Foreclosure Nation</title><link>http://www.thesymongroup.com/3401867</link><description><![CDATA[<p>Here is a fascinating graphic from the Washington Post about where in  the US, by County, foreclosures have taken place, color coded by  percentage.</p>]]></description><content><![CDATA[<img src='http://www.thesymongroup.com/files/images/81628-m.jpg' right style='display: inline; float: right; margin: 0 0 10px 20px;' class='img_m'  alt='' /><p>Here is a fascinating graphic from the Washington Post about where in  the US, by County, foreclosures have taken place, color coded by  percentage.</p>]]></content><pubDate>Fri, 22 Oct 2010 08:00:00 -0700</pubDate><guid>http://www.thesymongroup.com/3401867</guid><dc:creator>ScottSymon</dc:creator><category>Scott&#039;s Blog</category></item><item><title>New Listing - Timeless Home in Coveted Edgewood Park</title><link>http://www.thesymongroup.com/3400153</link><description><![CDATA[<p>Situated in one of Redwood City’s oldest and most coveted neighborhoods, this graceful Edgewood Park home sits on an expansive lot to create an exquisite living environment.<span> </span>Rarely do you find the perfect combination of home and neighborhood!
<p class="MsoNormal">  [...]</p></p>]]></description><content><![CDATA[<img src='http://www.thesymongroup.com/files/images/79580-m.jpg' right style='display: inline; float: right; margin: 0 0 10px 20px;' class='img_m'  alt='' /><p>Situated in one of Redwood City’s oldest and most coveted neighborhoods, this graceful Edgewood Park home sits on an expansive lot to create an exquisite living environment.<span> </span>Rarely do you find the perfect combination of home and neighborhood!
<p class="MsoNormal"><!--[if !supportEmptyParas]--><!--[endif]--></p>
<ul style="margin-top: 0in;" type="disc">
<li class="MsoNormal">Approximately     4,050 square feet of living space situated on a lot of approximately     33,350 square feet</li>
<li class="MsoNormal">Four     bedrooms and four and a half bathrooms </li>
<li class="MsoNormal">The     family room kitchen offers views to both the front and rear yard.<span> </span>It is highlighted by a fireplace     and floor-to-ceiling windows that face the rear yard</li>
<li class="MsoNormal">An     elegant den with rich wood paneled walls and abundant storage opens to the     rear patio</li>
<li class="MsoNormal">The     rear patio offers an outdoor fireplace, and is an ideal location for     outdoor dining and casual get-togethers</li>
<li class="MsoNormal">The     light-filled living room offers hardwood floors and a fireplace framed by     large windows that provide views to the serene rear yard</li>
<li class="MsoNormal">The     large master suite features a recently remodeled bathroom</li>
<li class="MsoNormal">A     large laundry room is located adjacent to the attached four-car garage</li>
<li class="MsoNormal">The     spacious yard features beautiful mature landscaping, a large lawn, a bocce     ball court, a pool and spa, and raised planting beds for vegetable     gardening</li>
<li class="MsoNormal">Ideally     located to take advantage of the open space and trails of Edgewood Park     while remaining in close proximity to several commute routes</li>
</ul>
</p>
<p>The home will be open to the public on Tuesday, October 5th from 9:30am to 1:00pm and Sunday, October 10th from 1:30pm to 4:30pm.</p>]]></content><pubDate>Mon, 04 Oct 2010 07:00:00 -0700</pubDate><guid>http://www.thesymongroup.com/3400153</guid><dc:creator>ScottSymon</dc:creator><category>Scott&#039;s Blog</category></item><item><title>Our New Listing Selected as the &quot;Hot Pick&quot; by a Local Firm</title><link>http://www.thesymongroup.com/3398995</link><description><![CDATA[<p>We are proud to say that our new listing at 451 La Mesa Drive, in Portola Valley, was selected by the agents at a competing firm as the most interesting new home to come to market in the past week.  The attached advertisement is currently running in <em>The Daily Wamp</em>.</p>
<p><em>The Da  [...]</em></p>]]></description><content><![CDATA[<img src='http://www.thesymongroup.com/files/images/78705-m.png' right style='display: inline; float: right; margin: 0 0 10px 20px;' class='img_m'  alt='' /><p>We are proud to say that our new listing at 451 La Mesa Drive, in Portola Valley, was selected by the agents at a competing firm as the most interesting new home to come to market in the past week.  The attached advertisement is currently running in <em>The Daily Wamp</em>.</p>
<p><em>The Daily WAMP</em> is a new local newspaper targeting residents living in Woodside, Atherton, Menlo Park and Portola  Valley (hence the name, WAMP).</p>
<p>WAMP has teamed up with Dreyfus Properties to review new listings from local brokerages. Dreyfus Properties’ agents pick one home each week that they feel stands out from the rest of the market.</p>
<p>What makes this home hot ?<br />According to Dreyfus Properties' agents, "If the beautiful remodel is not enough for you, the home’s extremely private backyard has a big, big feel, making this our favorite house on tour this week."</p>
<p>We will have open houses this Saturday and Sunday, Sept. 25th and 26th from 1:30pm to 4:30pm.</p>]]></content><pubDate>Fri, 24 Sep 2010 09:00:00 -0700</pubDate><guid>http://www.thesymongroup.com/3398995</guid><dc:creator>ScottSymon</dc:creator><category>Scott&#039;s Blog</category></item><item><title>Portola Valley School District Joins CarPooltoSchool.com</title><link>http://www.thesymongroup.com/3398048</link><description><![CDATA[<p>Portola Valley School District is pleased has just announced that they have become a member of the growing CarpooltoSchool.com network. Now parents from Ormondale School and Corte Madera School who wish to start or join a carpool, walkpool, or bikepool can go online and find other potential sch  [...]</p>]]></description><content><![CDATA[<img src='http://www.thesymongroup.com/files/images/77930-m.jpg' right style='display: inline; float: right; margin: 0 0 10px 20px;' class='img_m'  alt='' /><p>Portola Valley School District is pleased has just announced that they have become a member of the growing CarpooltoSchool.com network. Now parents from Ormondale School and Corte Madera School who wish to start or join a carpool, walkpool, or bikepool can go online and find other potential school poolers. Superintendent Tim Hanretty said, "We are excited to implement this new and innovative program. In addition to reducing our overall carbon footprint, carpools, walkpools and bikepools all help to reduce traffic congestion near our schools in the morning and afternoon."<br /><br />Powered by Carpooltoschool.com, the site gives parents a safe, easy way to organize transportation to and from school. CarpooltoSchool.com's intuitive interface makes planning carpools easy and convenient. Features include: a private matching service integrated with Google maps, quick carpool calendaring, environmental impact statistics, and built-in text messaging to remind parents when it's their turn to drive.<br /><br />The site also gives school administrators the ability to view daily carpools so they can help coordinate after-school pickups and provides a Bulletin Board where teachers and administrators can make special announcements to carpooling parents.<br /><br />Joining Carpooltoschool.com was initiated by Portola Valley's Safe Routes to School Coalition as a multi-front effort to reduce single-car trips to school and make it safer and more fun to bike, bus, walk or carpool to school! The Town of Portola Valley is a joint sponsor of the program. Town Manager Angela Howard said, "The Town is pleased to partner with the District to encourage carpooling. It's great for the kids, conserves energy, and helps reduce the number of cars at the schools."<br /><br />About CarpooltoSchool.com LLC<br />Founded in 2008, CarpooltoSchool.com partners with schools to offer customized carpool matching and calendaring to help parents organize child transportation to and from school. For more information, visit Carpooltoschool.com or call 831-435-6016 x128.<br /><br />About Portola Valley School District<br />Portola Valley School District provides an excellent education for all students. Capitalizing upon our unique partnership among teachers, support staff, parents, and community, we create powerful learning opportunities that challenge all students to meet the District's standards of excellence, become ethical leaders in school and community, and make positive contributions to a diverse and changing world.</p>]]></content><pubDate>Thu, 16 Sep 2010 11:00:00 -0700</pubDate><guid>http://www.thesymongroup.com/3398048</guid><dc:creator>ScottSymon</dc:creator><category>Scott&#039;s Blog</category></item><item><title>September Update</title><link>http://www.thesymongroup.com/3398042</link><description><![CDATA[<p>The Market<br /> <br />As predicted, sales nationwide slowed this summer. This was due in part to the end of federal tax credits for homebuyers. Despite the slower volume of sales, home values have been steady for the past 18 months.<br /> <br />Comparing home values from July 2009 to Jul  [...]</p>]]></description><content><![CDATA[<p>The Market<br /> <br />As predicted, sales nationwide slowed this summer. This was due in part to the end of federal tax credits for homebuyers. Despite the slower volume of sales, home values have been steady for the past 18 months.<br /> <br />Comparing home values from July 2009 to July 2010, NAR chief economist Lawrence Yun, reports that the price of homes increased .7%. Also, Yun reports that annual sales averaged 4.9 million in the past 20 years. But for 2010, annual sales are expected to reach 5 million because of the healthy activity from January to June.<br /> <br />Appraisals<br />As prices increase, there have been problems with appraisals. Imagine this situation. You are selling your home. You have a signed contract to sell your house. All seems well as the buyers are pre-approved. Then, the appraisal comes in low - maybe $10,000 to $25,000 below what was agreed to in the contract. The buyers refuse to pay any more and you do not want to reduce the price. Suddenly, the sale is in jeopardy.<br />The reason this scenario is not unusual in today’s market is that lenders are being very conservative in their appraisals. This is to avoid accusations that the loans they sell to Fannie Mae or Freddie Mac are inflated, which can expose them to “buy back” demands forcing them to repurchase the loan at huge costs. What lenders usually do is order a low-cost electronic valuation to review the accuracy of what was submitted by the appraiser. If there is a discrepancy, they sometimes just cut down the number to lower value.<br /> <br />Interesting information that you should know<br />A new federal ruling goes into effect on October 1 requiring contractors to take additional precautions when renovating structures built before 1978. The government reports that 38 million homes in the United States built before 1978 contain some lead-based paint. This new "lead-safe" practice applies to all structures.<br /><br /> The National Association of Home Builders estimates that the cost of compliance to customers undergoing remodeling projects in older homes will average about $2,400.  Contractors must become EPA-certified to remove the lead paint. Potential fines are up to $37,500 a day per the Enviromental Protection Agency.<br /><br />The requirements and fines do not apply to homeowners doing their own renovation work. But beware—exposure to dust from old paint can lead to learning disorders and even brain damage in children. If you are thinking about remodeling and own a home built before 1978, do an online search for “lead-based paint precautions.” There are many sites out there that offer health and safety precautions.<br /><br />Financial Update<br /><br />Interest rates are at historic lows again. Whether you are thinking about purchasing or refinancing, make sure you lock into a great loan program now. Fannie Mae and Freddie Mac are still trying to reform their institutions, so these rates will not last for long.<br /> <br />Conforming $417K<br />- 5/1 ARM: 3.75% no points, 2.875% 1 point<br />- 30 year fixed: 4.5% no points, 4.25% 1 point<br /> <br />High Balance Conforming $729,750<br />- 5/1 ARM: 3.75% no points, 3.125% 1 point<br />- 30 year fixed: 4.625% no points, 4.375% 1 point<br /> <br />Jumbo over $729,750<br />- 5/1 ARM: 4.125% no points, 3.875% 1 point<br />- 30 year fixed: 5.125% no points, 4.75% 1 point</p>]]></content><pubDate>Thu, 16 Sep 2010 10:00:00 -0700</pubDate><guid>http://www.thesymongroup.com/3398042</guid><dc:creator>ScottSymon</dc:creator><category>Scott&#039;s Blog</category></item><item><title>What Capitulation Looks Like</title><link>http://www.thesymongroup.com/3397888</link><description><![CDATA[<p>   [...]</p>]]></description><content><![CDATA[<p> </p>
<div style="text-align: center;"><a title="Time Mag Sept 9 2010" rel="lightbox[0]" href="/files/images/77763-custom.jpg"><img class="img_custom" style="text-align: center;" title="Time Mag Sept 9 2010" src="http://www.thesymongroup.com/files/images/77763-custom.jpg" alt="Time Mag Sept 9 2010" /></a></div>
<p> </p>]]></content><pubDate>Wed, 15 Sep 2010 07:00:00 -0700</pubDate><guid>http://www.thesymongroup.com/3397888</guid><dc:creator>ScottSymon</dc:creator><category>Scott&#039;s Blog</category></item><item><title>Natural Gas Safety Efforts in Palo Alto</title><link>http://www.thesymongroup.com/3397543</link><description><![CDATA[<p>In light of the recent tragedy in San Bruno the City of Palo Alto recently released information about the effort made to maintain the City's gas lines ...</p>
<p>Ensuring the safety of the community is a top priority for the City of Palo Alto, and it conducts ongoing and proactive safety ef  [...]</p>]]></description><content><![CDATA[<p>In light of the recent tragedy in San Bruno the City of Palo Alto recently released information about the effort made to maintain the City's gas lines ...</p>
<p>Ensuring the safety of the community is a top priority for the City of Palo Alto, and it conducts ongoing and proactive safety efforts that include leak detection surveys, pipeline upgrades and replacements, pipeline corrosion control, 24/7 customer response, and promotion of gas safety awareness and education to residents and businesses in Palo Alto. The most important safety tip, however, is if you smell a hint of natural gas, leave the premises and call the City’s dispatch center at 329-2579, or if there is a significant smell of gas all around the area, leave the area on foot and call 9-1-1. For more information on natural gas safety, please review our natural gas safety brochure.<br /><br />"Safety is everyone’s responsibility. The City of Palo Alto is grateful both to its customers and employees for working together to make sure that we are all safe," says Val Fong, Utilities Director.  <br /><br />The City of Palo Alto Utilities (CPAU) Natural Gas Utility (CPAU) has a broad program to make sure that you and the whole system are safe. CPAU's ongoing safety program has multiple components, including:<br /><br />* Proactive leak surveys conducted to detect and repair damage before problems develop.  During 2009, CPAU completed its annual walking survey to check for leaks of all 19,311 gas service lines in the City. In addition, an annual mobile survey of all 205 miles of City gas main pipes was conducted. These surveys found only 75 main and 142 service leaks, all of which are already repaired or will be repaired within the timelines required by the federal Department of Transportation. Of the City’s 23,502 installed gas meters, fewer than 2.5% needed to be leak-tested and repaired.  <br /><br />* Proactive Line Upgrade and Replacement.  The City of Palo Alto is the preeminent natural gas utility in the country in replacing natural gas lines. As a proactive measure to provide safe service to homes and avoid ruptures in the system, CPAU replaces every gas line in the city in 34.5 years (6 miles per year of distribution and 600 service lines), well before the expected lifetime of any pipe.  <br /><br />* Cathodic Protection to control the corrosion of steel pipe lines. Corrosion of steel lines could lead to gas leaks, which could result in dangerous situations. To ensure your safety, CPAU staff members follow routes each month to check the steel system and to ensure that cathodic protection is working. We currently protect 69.2 miles of steel gas mains and 1,152 miles of steel gas services. Cathodic protection prevents corrosion of steel pipes by converting all of the anodic (active) sites on the metal surface to cathodic (passive) sites by supplying electrical current on the line. This practice is referred to as a sacrificial system, since the galvanic anodes sacrifice themselves to protect the steel pipeline from corrosion.<br /><br />* Customer Call Response System through which CPAU field representatives were dispatched to handle over 7,000 utilities service requests in 2009. About 45% of these requests were regarding natural gas issues most of which concerned pilot light re-lights and new gas meter installations.  Customer Service Representatives, who handle over 36,380 calls per year, are trained to answer natural gas safety questions, and dispatchers are available 24/7 to respond to customers’ safety concerns when they smell gas.<br /><br />* Promoting gas safety in the community. Stemming from the City’s general concern for the safety of its residents, businesses, contractors and neighboring communities, CPAU sends out multiple gas safety outreach pieces each year and conducts an annual telephone survey to see whether customers understand what to do to stay safe around natural gas. The most recent annual telephone survey, completed earlier this month, included a randomly selected statistical sample of about 7,500 CPAU customers plus an equal number of non-customers for a total of about 15,000 calls. The results from these annual surveys guide the development of natural gas safety education programs for the upcoming year. <br /><br />For more information about safety programs at CPAU, visit the “Utilities Safety Information” link on the Utilities Department home page at www.cityofpaloalto.org/utilities</p>]]></content><pubDate>Fri, 10 Sep 2010 15:00:00 -0700</pubDate><guid>http://www.thesymongroup.com/3397543</guid><dc:creator>ScottSymon</dc:creator><category>Scott&#039;s Blog</category></item><item><title>Movie Under the Stars in Portola Valley</title><link>http://www.thesymongroup.com/3391190</link><description><![CDATA[<p>The Portola Valley Cultural Arts Committee presents "Movies Under the Stars," a free outdoor summer movie. They will be screening "Pirates of the Caribbean: The Curse of the Black Pearl." Popcorn, sandwiches, non-alcoholic drinks, and treats will be sold.<br /><br />This event will be held on P  [...]</p>]]></description><content><![CDATA[<img src='http://www.thesymongroup.com/files/images/73693-s.jpg' right style='display: inline; float: right; margin: 0 0 10px 20px;' class='img_s'  alt='' /><p>The Portola Valley Cultural Arts Committee presents "Movies Under the Stars," a free outdoor summer movie. They will be screening "Pirates of the Caribbean: The Curse of the Black Pearl." Popcorn, sandwiches, non-alcoholic drinks, and treats will be sold.<br /><br />This event will be held on Portola Valley's Town Center courtyard lawn on Friday, August 20. Folks are encouraged to come at 6:30 to picnic, socialize and listen to music featuring CD's from local bands. The movie will be begin at 8 pm.  <br /><br />Family, friends, and well-behaved dogs are all welcome to attend this special event. You are also encouraged to bring blankets and a picnic. This event is fun, free and local.</p>
<p>More information can be found <a href="http://www.portolavalley.net/index.aspx?page=27&amp;recordid=269&amp;returnURL=%2findex.aspx%3fpage%3d1" target="_blank">HERE</a>.</p>]]></content><pubDate>Tue, 03 Aug 2010 10:00:00 -0700</pubDate><guid>http://www.thesymongroup.com/3391190</guid><dc:creator>ScottSymon</dc:creator><category>Scott&#039;s Blog</category></item></channel></rss>
