The City of Pleasanton is considering changes to its fire sprinkler ordinance to bring it into compliance with new national codes.  Among the proposed changes would be the mandatory installation of fire sprinklers in existing residential properties that undergo extensive renovations.  No changes in the requirements have been adopted by the City of Pleasanton at this point in time. 

You can contact the City of Pleasanton for further details.

I was driving through town the other day and saw this sign sitting at the corner of a major intersection.  My first thought was one of curiosity – “what does that mean?”.  While continuing on my journey home I kept thinking about this sign.  It wasn’t long before I had dreamed up all sorts of possible scenarios and reasons this sign might be there.   One of those reasons could be something similar to a story that our family tellsabout mosquitoes.

Here in Pleasanton, California we have a mosquito abatement program through the county.  We pay an extra tax assessment to have this service.  Our county’s ‘mosquito patrol’ keep our canals & waterway’s free of mosquitoes.  For the most part our city is free of the little pests, and if we ever see one, we are supposed to report it so the county can come an investigate where the source might be.  Maybe a neglected pond, water in an outside barrel, or sometimes even a badly neglected pool.  In any case, the patrol will try to find them and eradicate the lot before they breed more.

We used to do a lot of camping when my son was younger and where ever we went we of course would encounter mosquitoes.  Sitting around the campfire at night with family, friends, or people we’d meet, we’ve often mentioned that where we live, there are no mosquitoes.  People would ask how that was possible.  We would joke that we had a big net over our city and signs on the free way exits stating “No Mosquitoes Allowed” or “Mosquitoes not welcome here”.  That story always got lots of laughs!

So maybe that’s what this Bee sign is all about, maybe someone is trying to keep the bee’s out of their yard!

What do you think?  What is your theory?

Pleasanton Real Estate Update

 As of today, July 17, 2009 there are 233 Active listings on the Multiple Listing Service (MLS) in Pleasanton.

 There are 159 Pending sales – [same as last week] – (58 of which are Pending Subject to Lender Approval as they are a Short Sale/Potential Short Sale). 

 From the period of July 1 – July 17, 2009, there were 31 Sold transactions (escrow closed) with an average time of 45 Days on Market (DOM), and an average sales price of $784,175. (lowest sold = $149,000 / highest sold = $2,500,000).

The lowest priced home in Pleasanton is at 4831 Saginaw Circle; it is a 2 Bedroom/1 ½  Bathroom, approx. 988 sq.ft. Townhouse offered at $235,000 (DOM 2). 

The highest priced home in Pleasanton is ~still~ at 3040 West Ruby Hills Drive; it is a 7 Bedroom/9.5 Bath, 6-car garage home, approx. 14,586 sq.ft., Single-Family residence offered at $10,000,000 (DOM 78).

As a California licensed real estate Broker I am constantly researching the market and analyzing home prices so I can serve you with the latest and most accurate information. As always, I offer my services to you as your Home Research specialist.  For more information, contact me, or visit my website at:  www.PattyManzi.com.

Here is a brief explanation of the responsibilities of the Buyer’s Agent and Seller’s Agent in a transaction.

In California,Real Estate brokers and their sales persons are required to disclose the type of working relationship they have with the buyers and sellers in a real estate transaction.  There are several types of relationships that are available to you.  You should understand these at the time a broker provides specific assistance to you in buying or selling real estate.  Buyer’s Agent and Seller’s Agent relationships are commonly referred to as ‘agency’ relationships and carry with them legal duties and responsibilities for the broker as well as for the buyer and seller.

Buyers Agent.  A Buyer’s Agent acts solely on behalf of the buyer and owes a fiduciary duty of utmost care, integrity, honesty, and loyalty in dealings with the Buyer.  The agent will negotiate on behalf of, and act as an advocate for the buyer.  The buyer is legally responsible for the actions of the agent when that agent is acting within the scope of the agency.  The agent must disclose to sellers all material facts concerning the buyer’s financial ability to perform the terms of the transaction and whether the buyer intends to occupy the property, but cannot disclose to another party that the Buyer will pay a price greater than the price offered.  A separate written buyer’s agreement is available which sets forth the duties and obligations of the parties.

Sellers Agent.  A Seller’s Agent acts solely on behalf of the Seller and owes a fiduciary duty of utmost care, integrity, honesty, and loyalty in dealings with the Seller.  The agent will negotiate on behalf of, and act as an advocate for the Seller.  The Seller is legally responsible for the actions of the Agent when that Agent is acting within the scope of the agency.  The Agent must disclose to Buyers or Tenants all adverse material facts about the property known by the Broker.  A separate written listing agreement is required which sets forth the duties and obligations of the parties.

I was asked the other day about why someone would need to get ‘pre-approved’ for a loan before looking for a home.  Here’s why:

If you are serious about buying a home, your next step is to get a ‘pre-approval’ from a reputable Lender.  By doing this before looking at homes, you’ll save yourself time, energy, and frustration. 

The pre-approval will:

• Determine how much home you can afford:  Helps you avoid buying less home than you can afford, or being disappointed if you don’t qualify for as much as you had hoped.
• Shows what your total investment will be: You’ll know approximately how much money you’ll need for your down payment and closing costs.
• Lets you know what your monthly payment will be: You’ll have a very close estimate of what your monthly principal, interest, taxes, and insurance (PITI) will be.
• Identifies the loan programs you can qualify for:  With a wide variety of loan programs available, it is important to know which types you qualify for and which will best suit your needs.
• Strengthens your offer: Sellers may be more inclined to accept realistic offers when they know that you are serious and have taken the time to be interviewed by a lender and are pre-approved for a loan.

When you are pre-approved by a Lender, you’ll receive a Pre-Approval letter to give to your Realtor®.  This letter should state that the Lender has checked your credit, your credit score, verified your income and employment history, and your monthly debts and obligations.

Choosing Your Lender

When you buy a home, one of your primary concerns will be finding a lender who can provide the financing YOU need.  So how should you shop for a Lender?  Most real estate agents have a network of reputable professionals they can refer you to.  Calling around and asking for interest rate quotes is NOT always the best way to select a Lender.

Competitive rates are important, but when you consider the fact that most Lenders get their money from the same sources (and therefore have essentially the same rates to offer), you must look at some other factors before choosing a Lender.  You need a Lender who works with you and your real estate agent as a team and has the same goal – to get your loan approved and closed in a timely and professional manner. 

Meeting With the Lender

When you meet with the Lender you choose, be prepared to provide the following information:

1. Your residence history
2. Your employment history & income
3. All outstanding debts, loans, credit cards
4. All bank accounts – savings, checking, and investment accounts
5. Real estate you currently own
6. Personal property you own

Remember finding a Lender you can trust is just as important as finding an experienced Realtor®.  You want to make sure that your needs are going to be met professionally and represented throughout the entire process of buying your home.  Ask for, and check references.