1. Is it a good time to buy a home?

Timing is everything in Real Estate. Nobody really knows the bottom of the market until it starts going back up. Right now prices are stabilizing in some areas after an initial drop over the last year. Here are a few interesting facts: The bottom of the market in cities such as San Jose, Sunnyvale, Redwood City and East Palo Alto saw prices decline as much as 40%, most of those selling as Bank Owned or Short Sales. In some of these markets, 60% of the listings of $400k and below are sale pending. We can surmise that investors and home buyers, who can now qualify for a loan with the lower purchase price and interest rate, are scooping up these bargains. With some lending institutions now putting a moratorium on foreclosures and banks working hard to keep home owners in their home with loan modification programs, there will be fewer Bank Owned properties on the market, which will shrink the inventory and stabilize prices at the bottom. Markets usually recover from the bottom up. And interest rates are reaching historical lows again. Given all that, inventory is still high and there is opportunity to negotiate on price and terms with sellers and to take advantage of our "Buyers Advantage Program" offered exclusively at Peninsula Homes Realty.


2. Can I get a loan?

It’s true the day of the sub prime loan is gone. But let’s face it; you don’t really want one of those anyway. There is plenty of money out there for the qualified buyer who has a down payment and good credit. You may not qualify for as high a loan amount as you could before, but with prices at a low point, you might still get the home you really want. Peninsula Homes Realty has also created a loan incentive program which may allow you to qualify for a higher loan amount and at the same time, lower your monthly payments. And as an added bonus, save you many thousands of dollars (depending on your loan program it could be over $100k)over the life of the loan. Call today for details about our "Buyers Advantage Program".


3. How should I begin looking for a home?

Most buyers begin on the Internet. This is a good start if you really don’t know the area you want to buy in. My recommendation is to start with a Realtor. At Peninsula Homes Realty we invite you into our office to search the same information we access on the MLS and view properties on our large LCD monitor. We can view the sold properties with which to compare homes you are interested in and view virtual tours online. We can also meet with several lenders at our office and set up a schedule to view homes that meet your criteria.


4. Who pays the commission?

The Seller pays all commissions due to the agents. At Peninsula Homes Realty, we can rebate you a portion of the commission to be used toward closing costs, a loan buy down, or to purchase new appliances or furniture, it’s your choice. Ask about our "buyers advantage program".


5. What do I need to know as a first time home buyer ?

Be patient, but be prepared. The right home may be on the market now and you should be ready to make an offer. We can assist with everything you will need to make an offer such as a lenders prequalification letter and other documents that a sellers' agent may request. Knowing the market is important so that you can make an informed decision on price and terms. We educate you as part of the buying process so you feel confident in moving forward.


6. Why should I work with Peninsula Homes Realty?

1. We are full time professional realtors who have been listing and selling homes for over 20 years.
2. Our goal is to educate you as a buyer so you make the right decision for you and your family.
3. We are currently offering buyers incentives through our “Buyers Advantage Program” which will help you get into your dream home for less.
4. Over the years we have formed valuable relationships with Lenders, Title Companies, Inspectors, Contractors, Architects, Home Improvement Companies and Handymen, which will benefit you during the buying process and beyond. We also make ourselves available after the sale for any needs or questions you may have. Our goal is for you to be so satisfied with our services that you will wholeheartedly recommend us to your family, friends and colleagues.

Want to buy a home? Have questions?
Call Bob Williams at 650 208-5325