Jim Walberg

East Bay Real Estate: 2010 Update – Short Sales Replacing REO’s!

Banks do not want to repossess homes anymore! They have more bank-owned homes than they ever wanted and there are too many more foreclosures sitting in the wings . Banks have learned that a Short Sale is probably less costly in the long run and instead of taking the home back they would rather work through the Short Sale as a much better alternative. ( A Short Sale is where the amount owned to the lender is more than the home is worth, and the bank is willing to less to satisfy the loan.) The real estate market place has changed dramatically in 2010 because of this banking-wide decision. Even the Federal Government has created ways for Short Sale sellers to be able to come back into home ownership quicker with new lending guidelines that don’t cause such chaos with these sellers credit ratings as long as they have been current with their mortgage payments – Home Affordable Foreclosure Alternatives, or HAFA. Read more

Jim Walberg

East Bay Equestrian Update: SonRise Equestrian Foundation Changing Kids Lives!

If you love horses can you imagine the impact a horse could make in the life a child at risk or who is disabled in some way?  Well, that dream is coming true every day for some very special kids in the East Bay everyday!  Melanie Buerke had this idea several years ago and the dream is now a realty – SonRise Equestrian Foundation at Charles Wilhelm’s horse training center on Crow Canyon Road.  Here is their mission statement:

“SonRise Equestrian Foundation is a non-profit organization making a positive difference for children and youth living with social, emotional, or physical challenges including terminal illness. Participating children develop confidence, integrity and responsibility through mentoring and peer relationships centered around the care and enjoyment of horses.” Read more

Jim Walberg

2010 ReBarCamp – East Bay: Best Practices Of Social Media Marketing

Last Wednesday, the East Bay had it’s first REBarCamp held at the brand new condo complex at 555 Ygnacio Valley Road in Walnut Creek. BarCamps have been produced all over the country for the last several years by dedicated volunteers.  But, none have been delivered to the East Bay until last Wednesday with Nate Ellis from Keller Williams Realty as one of the key leaders of the event.  It is a very odd “non-conference” of exchanging ideas of the latest technologies related to internet marketing and the effective use of Social Media as part of creating relationships with people who need to Buy or Sell real estate, or are in need of any other service related to the transaction such as escrow/title, mortgage services, and various suppliers.

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Jim Walberg

East Bay Real Estate: Danville Is Still Horse Country!

Have any of you wondered how The Bay Area Team became the top real estate group selling equestrian property in the East Bay? Well, the answer to that question began to unfold 40 years ago in Danville.  OK, close your eyes and see if you can imagine the 40,000+ horses were packed into Contra Costa County in 1970 when I first arrived in Danville from Redondo Beach. In 1970 Contra Costa County had the highest number of horses per person than any other county in the U.S.A.!  Surprised?  Yep, I was, too. So, I decided that this “surfer kid” who loves all things connected to the ocean better get with the program and get into the world of horses, wells, septic tanks, fences, horseshoes, and hay.  Within a short period of time I had two quarter horses and a big old draft horse.  We kept them at a 40 acre horse boarding ranch owned by Mrs. Freitas.  She and her family had owned the property since the 1870’s.  It was about a half mile from the 680 freeway and Sycamore Valley Road.  Read more

Jim Walberg

The Bay Area Team: 2010 Sponsors Of Tassajara Valley Little League

The Bay Area Team’s motto regarding community service is, “To whom much is given, much is required.” We are constantly looking for opportunities to give back to our community. For the first time in 40 years we decided to address the decreasing revenues of little league program and become the corporate sponsor of Tassajara Valley Little League program for 2010. Today was photo day for all of the baseball teams, and what an unforgettable day it was – plus some great baseball was played by all ages.  Before the games started then had the “Hitting, Running, & Pitching” competitions, again for all ages.  This day reminded me why our country calls this their National Sport.  WOW!  What a day filled with smiles. Read more

Jim Walberg

East Bay Real Estate: Become A Buyer NOW!

Sellers need to have their homes standout from the “crowd” of similar homes currently on the market. Remember in my recent posting that Smart Sellers are on the market NOW!,  well, time is running out for Bay Area Buyers to continue getting the best buys.  Interest rates are rising, and so are home prices in many local East Bay markets.  Sellers need to become a Buyer NOW!

• Real Estate is always a local.  Know your local market! Many of the communities in the East Bay real estate markets are on their way back up from a three year meltdown.  Some communities still have a year or two left before they recover – primarily the $1 million+ markets. As a Seller you MUST know your micro-markets in order to price your home appropriately, or you won’t even get a nibble.  In addition, even the price ranges in each of the local markets make a difference as to which homes are more likely to sell quicker.  Real estate sales data to evaluate your situation can only be two to three months old because of the rapidly changing markets. And, make sure you have hired a Realtor who specializes in your local region. Read more

Jim Walberg

California “Short Sale” Sellers Facing DISASTEROUS 2009 Income Tax!

There are tens of thousands of homeowners in California who have sold or are selling their homes for less than is owed on them to the mortgage company.  This is called a “Short Sale”. The Federal government has decided not to charge income tax on the amount of the debt that was forgiven because of the Short Sale for many qualifying sellers.  ( Speak with your tax adviser to see if you qualify.) California’s Franchise Tax Board was in alignment with the IRS not taxing this forgiven debt as ordinary income for those who qualified.  So, for those Sellers who qualified,  in 2007 and 2008 California followed the Fed’s position on this debt NOT being taxed as ordinary income.  HOWEVER,  the California law was NOT extended for 2009!  What this means is that California’s Franchise Tax Board will be charging an income tax on this forgiven debt, and tax it as ordinary income!  I, Jim Walberg, am not a tax adviser, however, IF THIS TOPIC APPLIES TO YOUR SITUATION CONTACT YOUR TAX ADVISOR TODAY! Read more

Jim Walberg

Luxury Marketing Council: Jim Walberg On The Panel For “Alpha Agent’s” Event

Who Said You Can’t Sell Luxury Real Estate Online?   Success Stories and Strategies from Those Who Can AND Do!

SAN FRANCISCO, CALIFORNIA – (April 22, 2010) Jim Walberg, a business owner in the San Francisco Bay Area, and REALTOR®, who is well-known for his results in the world of internet marketing as it relates to the sale of luxury real estate globally, shares his effective strategies with the San Francisco chapter of The Luxury Marketing Council’s Annual “Alpha Agent” Event April 22, 2010 at One Hawthorne Luxury Condominiums – 645 Howard Street.  This is the annual event attended by the top 150 Realtors representing luxury estates and residences, and equestrian properties in all of Northern California.

Each year the San Francisco chapter of The Luxury Marketing Council conducts over member educational and networking meetings and events.  The Annual “Alpha Agent” Event is their most popular.   The April 22^nd event will focus on the use of on-line marketing strategies for the sale of luxury real estate with emphasis on Blogging, profitable use of Social Media and the structure of the Virtual Office.  LMC participates in the intelligent exploration of the best marketing practices and trends in all the luxury marketplaces. Read more

Jim Walberg

FIABCI-USA: Jim Walberg Presents At The 2010 Spring Conference

Expert Internet Marketing Professional, Jim Walberg, Shares Lead-Generation Tips at FIABIC-USA Conference

ALEXANDRIA, VIRGINA – (March 27, 2010) – Jim Walberg, owner of The Bay Area Team, and a 40-year business owner and REALTOR®, who is well-known for his very successful real estate companies in the Caribbean and San Francisco real estate markets, openly shared his global marketing strategies at the FIABIC-USA 2010 Spring Conference in Alexandria, Virginia.

Five years ago, Walberg said he had a vision of expanding his real estate practice from San Francisco to include the Caribbean Islands. At that time he launched the websites Bay Area and Caribbean websites that allows Buyers from all over the world to purchase real estate in two of the most desirable locations in the world. Read more

Jim Walberg

$10,000 California HomeBuyer Tax Credit Starts May 1st – Act NOW!

Finally, some good news from California State government!!!  A new California law was JUST PASSED that now provides first time homeowners and long time residents of California an ADDITIONAL TAX CREDIT of $10,000 starting May 1^st – 5% of the home’s purchase value up to $10,000!  This is a first-come first-serve pool of money that when it is gone, there will be no more credits available to home purchasers.  The incredible benefit to California home buyers is this credit is ON TOP of the Federal credit provided to first time home buyers of $8,000.  It also, applies to the long-time residents purchasing their next home, too.  The home must close escrow between May 1st and December 31st, 2010.  This means that those who OPEN ESCROWS before May 1st have the opportunity to not only receive the Federal tax credit of up to $8,000, but also an additional $10,000 if they close that escrow on or after May 1st!  This is a credit to NOT pass up!  This means if you are going to purchase a home in 2010 but are not quite ready this month,  consider getting a home into escrow in April and close it on May 1st or after, so you can take advantage of this gift to California residents.  I have found a link for you on the California Association of Realtor’s website for a side by side comparison of both the Federal and State tax law requirements that explains how the both work. Read more

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