the bay area team
The Tobin Clark Estate: David Adler – Architect’s Crown Jewel of San Francisco Estates
January 13, 2012 by Jim Walberg · 1 Comment
The Tobin Clark Estate was considered one of architect David Adler’s finest works during the height of his stunning career. He was designing homes during what is still called the era of “the great American house”, between 1911 to 1949. In the 1920s, Mrs. Celia Tobin Clark, an heiress to the Hibernia Bank fortune, commissioned David Adler to create a Cotswold Tudor Mansion on a secluded hilltop of some four hundred acres just south of San Francisco. Her husband was the owner of the Montana Mining Company. The Tudor – Costwold influence is present in the exterior, but the interior is an amazing array of styles. And, it somehow all works. I am sure he had a unforgettable time designing the home in the exclusive San Francisco Bay Area community of Hillsborough. At one time, the 35,000-square-foot home rested upon 400 acres. It now is situated on the remaining secluded six acres of the original estate. Read more
the bay area team
Tobin Clark Estate: Historic Tobin Clark Estate Host to Presidents and World Leaders
January 2, 2012 by Jim Walberg · 1 Comment
For more than sixty years, the Tobin Clark Estate, Hillsborough Mansion with the unassuming name “House-on-Hill” has been cited as one of the most spectacular private residences ever created in the San Francisco Bay Area in its fine antique English style. And, it has been the host to every U.S. president since Richard Nixon. Some of the world leaders that have stayed at the Tobin Clark Estate since 1990 are, Presidents Richard Nixon, Gerald Ford, Ronald Reagan, and George H.W. Bush, as well as King Hussein and former British Prime Minister Margaret Thatcher. Read more
the bay area team
East Bay Real Estate: Jobs Update – Underwater = Not Moving!
January 1, 2012 by Jim Walberg · 1 Comment
Jobs, Jobs, Jobs continue to replace Location, Location, Location in the world of East Bay real estate. However, with the job market finally improving in the Bay Area and looking very good for 2012 the challenge is for people whose home is underwater and are unable to move to where the jobs are booming. We are fortunate in the Bay Area that our unemployment is almost 3% lower than our State – 9.6%. And, our percentage of homes underwater in the Bay Area is only 12%, compared to San Diego that has 28% of their homes underwater. Still this issue is making it harder for Bay Area homeowners to relocate for work. The Wharton School study has determined that about 30% of homeowners who are underwater as less likely to move compared to those who are renting or have equity in their home. FEAR is still a big factor today. Read more
the bay area team
The Tobin Clark Estate: A Once In A Lifetime Opportunity For $29 Million
December 22, 2011 by Jim Walberg · 3 Comments
The Tobin Clark Estate: Maybe once in a lifetime one is able to acquire a true architectural masterpiece. That opportunity has just arrived in Hillsborough, California. For more than sixty years, the Hillsborough Mansion with the unassuming name “House-on-Hill” has been cited as one of the most spectacular private residences ever created in its fine antique English style. In the 1920s, Celia Tobin Clark, an heiress to the Hibernia Bank fortune, commissioned architect David Adler to create a Cotswold Tudor Mansion on a secluded hilltop of some 400 acres just south of San Francisco. Full-grown trees were transplanted from as far away as the Monterey Peninsula, rose terraces and formal courtyards were laid out amid the oak groves and lawns, and multiple-trunk olive trees were pruned to dip low over matching reflecting pools set in a stone terrace. Completely by hand, an architectural treasure was built. Read more
the bay area team
East Bay Real Estate: Rent vs. Buy? BUY NOW!
December 12, 2011 by Jim Walberg · 1 Comment
Never before in the last 15 years has it been less expensive to buy a home versus renting a home! There are two reasons; 1) Rents have risen so dramatically the past two years because of so many people needing to rent a home because they either can’t afford to purchase a home, or they have lost their home. Landlords have been making a killing! 2) Home prices in the East Bay have been adjusted backwards to almost 2002 pricing. AND, mortgage interest rates are at a 40 year low – around 4%!
To give you an idea of why today’s interest rates are such a key factor in today’s home buying equation, notice how much of a mortgage you are able to get today compared to 1991 for a $1,700 monthly payment. With 1991 mortgage interest rates you could secure a $200,000 home loan. With today’s mortgage interest rates you are able to secure a home loan for $350,000! Do you now see the home buying power of a 4% interest rate in 2011? And, it is expected we will have low mortgage rates for up to two more years. Read more
the bay area team
East Bay Real Estate: Paying It Forward During The Holidays!
December 5, 2011 by Jim Walberg · Leave a Comment
The phrase we are focusing on during the Christmas and Holiday Season is, “To whom much is given, much is required!” I believe that all of us want to give back to the needs of our local communities. What we have noticed is that most people don’t know where to start, so it gets complicated, and then nothing happens. Well, you are in luck, I am going to provide you two easy opportunities to make a difference in the lives of people in the East that are less fortunate than any of us.
CONTRA COSTA FOOD BANK: Because of the economic mess the past four years, there are many more families that are on the edge collapse. The Food Bank has good from serving 70,000 meals a month to 120,000 a month! Their resources are stretched to the maximum, sometimes going day to day. Amazingly, the most important food they distribute to families is Peanut Butter – the #1 source of protein for many families! What they most need are checks. Because of their relationship with the grocery store industry, they are able to purchase $6.00 of food for every $1.00 that is donated. WOW! What an impact a $50 donation can make in the lives of those who need food. Read more
the bay area team
East Bay Real Estate: National Survey Results – FEAR Still Influencing Real Estate!
November 19, 2011 by Jim Walberg · 2 Comments
Fear about home values ranks higher than fear of natural disasters and fire. As you have noticed fear is even determining the daily results of the stock markets. In fact, there has not been a time in the past 50 years where the fear-factor has been so high in our country. Koski Research completed a national survey of 1000+ homeowners with not so surprising results. Almost half of the homeowners surveyed no longer view owning a home as the American Dream. The conclusion is that declining home values over the past four years has undermined the confidence of homeowners. And, don’t forget, FEAR = False Evidence Appearing Real.
NOTE: As I outline more of the survey results it is important to remember that ALL real estate is local. The San Francisco Bay Area is made up of many micro-markets, each of them are performing differently than the other. So, remember, a National homeowners survey may have no connection to the real estate results happening in your neighborhood. Our experience is the there has never been a better time to buy a home in the Bay Area. Interest rates are at record lows and home prices are bargains compared to five years ago. Read more
the bay area team
East Bay Real Estate: The Housing Crisis & It’s Impact On Families
June 26, 2011 by Jim Walberg · 2 Comments
With the Moody Analytics Index falling again for two quarters, there is more going on than just loss of home equity. The real issue we are dealing with as Realtors is the sometimes overwhelming stress on the families we are serving. With housing prices in most of the country at 2002 levels, hundreds of thousands of homeowners are feeling trapped. One of the top two stressors that finally ends a marriage is money. When there is a divorce unfolding in the midst of selling a home it compounds the personal issues even more. Read more
the bay area team
East Bay Real Estate: Why Buy A Home NOW?
January 31, 2011 by Jim Walberg · 2 Comments
My last article was about my predictions for the housing industry in 2011. Well, as January is about to end, there are several important reasons to considering buying a home in 2011 before the end of June. I am not saying we are out of this housing mess yet. However, residential real estate in the East Bay is a real bargain right now. And, there is still one big hurdle for many people, and this is unemployment. So, let’s pray you have a job and are standing on the sidelines waiting for the correct moment in 2011 to purchase your home. My opinion is, it is RIGHT NOW!
People who currently own homes are probably not very happy about how prices have significantly corrected in the past three+ years. Sellers of homes are upset because of the price they have to sell their home for. Buyers are even more upset because of the unbelievable hurdles required to secure a loan in order to even make a purchase. So, what would cause me to such a fan of buying a home today. Read more
the bay area team
East Bay Real Estate: Jim Walberg’s 2011 Real Estate Predictions!
January 18, 2011 by Jim Walberg · 4 Comments
The 2011 predictions for the East Bay real estate market are much different from last year. Last year they were focused on Loan Modifications, Fannie and Freddie, availability of mortgages, and mortgage loan interest rate re-sets. In 2011 the “TOP 4″ issues impacting real estate are;
Jobs = Unemployment: People can’t buy a home if they don’t have a job. It is that simple. And, in California this is the # 1 issue since we have over 12% unemployment. Also, for those who have taken jobs that pay much less than their last one, it is more difficult to keep their payments current, negatively impacting prices.
Bank Foreclosure Delays: This topic is more dangerous for consumers than it may seem. The banks are in a mess with their foreclosure documents, thus slowing down the process. If the banks become more difficult in processing foreclosures we may see a mass sale of REO’s or Short Sales. The impact would be lower prices for homeowners in those communities where there are 50% or more foreclosures on the market.
Our Federal Government: The issues to watch are; cutting back on the mortgage interest deduction; what happens with Fannie and Freddie’s economic survival; banks coming after 2nd deeds of trust after a Short Sale or REO; the organized slowing of foreclosures or loan modifications.
Interest Rates & Mortgage Loan Criteria: Interest rates will be higher by the end of the year. Inflation and the Bond Market will not allow interest rates to remain in the 4% range. This means that Buyers will typically be better off buying a home by June than waiting to December. If interest rates do rise, it will all less people to qualify for a loan translating to less home purchases. My prediction is that because all loans today are theoretically backed by the government, the down payment requirements will go up because the Government is wanting to scale down the risk they have had the last three years. Read more
