Please take a few minutes of your time to assist the City of San Carlos in an important economic development process. The following survey is an important component of the community branding research. You may complete the survey by following this link: http://www.surveymonkey.com/s/WCDFMMC In order to expedite this process, the survey must be completed no later than December 23, 2009. |
Sunday, December 13, 2009
Survey: San Carlos Redevelopment Agency Wants Your Input on City Branding
Monday, November 16, 2009
Demolition of Shoreway Recycling Plant in San Carlos Underway
The building that is currently being torn down is an existing 48,000-square-foot materials recovery facility (MRF) where the recyclables from the SBWMA’s residential and commercial customers were being processed. In its place, a new 70,200-square-foot MRF will be constructed to handle an increase of over 20,000 tons of recyclables.
Once building construction is completed, the new MRF will house state-of-the-art processing equipment specially designed to process and separate single stream recyclables, where bottles, cans and paper products are mixed together.
“We are now making tangible progress towards fulfilling our vision for state-of-the-art, cost-effective collection services for local residents and businesses,” said Kevin McCarthy, Executive Director of the SBWMA. “Once construction activities are complete at the Shoreway facility, we will have the most technologically advanced recycling systems in the country.”
In addition to the MRF construction, the SBWMA will be expanding the existing 62,000-square-foot transfer station by an additional 14,780 square feet to increase unloading space for public customers. It will also allow for a 30,000-ton-per-year increase in plant materials and food scraps collected from local residents and businesses. The transfer station construction is expected to begin in August 2010. All construction activity is expected to be completed in the spring 2011.
Other key features of the future facility include a relocated buy-back center and free recycling drop-off to provide the public a safer and more convenient access to the area, major traffic improvements for customer safety, “Green Building” features, and a new environmental education center.
The public areas at Shoreway, including the transfer station, buy-back center and free recycling drop-off remain open during the MRF construction. The public is encouraged to visit RethinkWaste.org for up-to-date construction information and any changes to services offered.
About SBWMA
Formed in 1982, the SBWMA is a joint powers authority comprised of 12 member agencies (Atherton, Belmont, Burlingame, East Palo Alto, Foster City, Hillsborough, Menlo Park, Redwood City, San Carlos, San Mateo, the County of San Mateo and the West Bay Sanitary District) in San Mateo County and is a leader in implementing innovative waste reduction and recycling programs.
The SBWMA also owns and manages the Shoreway facility in San Carlos consisting of a permitted solid waste transfer station and a recycling processing facility. For more information on the SBWMA, please visit our website at www.RethinkWaste.org.
City of San Carlos Joins Facebook!
San Carlos residents, businesses and visitors can find the city's Facebook page by entering "City of San Carlos" in the search box on www.facebook.com. The initial information on the City of San Carlos Facebook section includes today's Pulse of Business Social Media Workshop, this weekend's Citywide Garage Sale sponsored by San Carlos Together and San Carlos Green and the upcoming Goblin Walk sponsored by the San Carlos Parks and Recreation Department, San Carlos Chamber of Commerce and Miller & Associates. Even though the San Carlos Facebook is barely 24 hours old, it already has 30 "fans" (Facebook members that are watching the City's Facebook page).
The City's of San Carlos section on Facebook can be reached from any standard web browser including Firefox, Internet Explorer and Google Chrome. In addition, there is software to reach Facebook from cell phones and smart phones including the recently released Facebook 2.0 program that was written for Apple iPhone users by the developers at Facebook.Com.
Social Media and Economic Development in San Carlos
An interesting twist of the San Carlos approach to social media is the City's program of following local businesses that also use social media. San Carlos firms with a current business registration on Facebook and Twitter are linked to the City's pages on these services. This creates a virtual San Carlos Business Guide on each service and helps to leverage the traffic that both the City and the local business firms receive.
According to Assistant City Manager Brian Moura, this is another way that the City is stimulating economic development and the success of businesses located in San Carlos. A check of the two social media sites shows 30 San Carlos businesses linked to the City Twitter site and 11 San Carlos businesses linked to the City's Facebook site. The City anticipates expanding these virtual business guides as more San Carlos companies join Facebook and Twitter.
Friday, October 23, 2009
Smile - you may be on camera
Friday, October 16, 2009
Vote on November 3rd!
There will be two measures proposed by the City Council of the City of San Carlos on the November ballot. They are as follows:
- Measure U: City of San Carlos Vital Services Measure
- Measure V: Shall the office of City Clerk be appointive?
Saturday, September 26, 2009
Power Surges? Got squirrels?
Wednesday, September 9, 2009
Eaton - Big Canyon Trail
We live off of upper Eaton Avenue. One of the things my husband and I enjoy is taking a walk up Eaton to the Big Canyon Trail. It is so nice to have this available to us without having to get into a car. We enjoy the solitude and beauty of the canyon as well as the amazing views from the top of the hill. It is one of the numerous things we love about living here. I recently found this trail map/guide and thought it was a fun tool. Happy hiking! ~ Kelly
To enhance your enjoyment of this trail we have noted features at each tenth mile interval.To help you identify the native plants we have noted the tenth mile intervals at which specimens appear.Keep your eyes and ears alert to enjoy the scurrying mammals, reptiles, and singing birds along the way – see the lists of those who live in this area.We hope you’ll return in different seasons to enjoy nature’s ever-changing show!
Mile(s) | Eaton - Big Canyon with Trail |
To Start at Eaton Park Trail-Head | |
0.0 | The trail begins at the end of Eaton Avenue.The trail is well marked and easy to follow except where it merges with or departs from jeep roads. Look for orange surveyor’s tape, orange stakes, orange pipes, or orange discs in such places.After 172 feet, the trail bears to the right, away from the main jeep road, which goes to the site of a house which used to stand there.The trail then crosses a little seasonal stream in a shady place with ferns, then crosses over to another drainage with oak trees and Poison Oak.(Don’t touch the Poison Oak which has clusters of 3 green or red leaves.) |
0.1 | The trail crosses an old road, no longer used, and begins a switchbacking ascent of a grassy slope. |
0.2 | The trail passes an olive tree, meets a jeep road (fire trail), and turns sharply left onto it. |
0.3 | At the saddle is a four-way junction.To the right, a recommended side trail takes you to a knoll with a commanding panoramic view of San Francisco, the Bay, and the surrounding mountains, including Mt. Diablo, Mission Peak, Mt. Hamilton, and Loma Prieta.The jeep road to the left goes up the ridge and eventually passes through an easement and connects with Loma Road at its highest point. Our trail goes straight ahead under a low-hanging branch of a big oak tree.Please be careful. |
0.4 | A shady canyon is entered.What plants do you see? |
0.5 | A short foot bridge.Watch your step. |
0.6 | A small stream is crossed.What birds do you hear or see? |
0.7 | A pair of switchbacks takes you to an open area.Deer are often seen grazing on the hills across Brittan Avenue.This is a good place to look for spring wildflowers. |
0.8 | A cascading stream during the rainy season. |
0.9 | When the surrounding homes were built, a deep canyon here was filled.To stabilize the soil, plants were irrigated by sprinklers until they were established. |
1.0 | An early version of this trail, started in 1973, rough in places, was finished here by the Sierra Club on April 21, 1984.Look for the “Golden” Spike in a tree.After climbing out of a gully, you may rest on a bench in an open area.This was an Eagle Scout project. |
1.1 | There are so many switchbacks here, it resembles Lombard Street in San Francisco.This route was chosen to avoid unnecessary intrusion on the privacy of the homes nearby. After the switchbacks, you will drop steeply down some big steps made of railroad dies.The upper portion was an Eagle Scout project, and the lower steps were built by the San Carlos Parks and Recreation Department. As you pass between the houses through the narrow easement, please walk quietly and respect the rights of those who live here. |
1.2 | Cross Brittan Avenue, pass another Eagle Scout bench, and walk up the service road to the place where the stream enters the storm drain system.The Loop Trail starts here.You may go either right or left, but this description assumes you will go ahead to the left – in order to better enjoy the view. |
1.3 | Cross a bridge and then turn sharply left at a switchback. |
1.4 | As you cross the next bridge, look for Trillium and ferns in February/March.Then climb up to a trail junction.If you go straight ahead, you will come to an Eagle Scout bench.You may continue past the water tanks, cross Crestview Drive, go through Crestview Park, and connect with Leslie Drive Our trail turns sharply to the right, curves to the left, and crosses a seasonal stream in the shadow of a water tank. |
1.5 | The trail passes under some big Bay trees and curves left and enters a steep wooded canyon. |
1.6 | A bridge and 2 switchbacks take you up to a scenic viewpoint with an Eagle Scout bench.Take time to enjoy the view. |
1.7 | The highest point of the trail is reached.The predominant plant here is Chamise.The trail drops steeply between two switchbacks. |
1.8 | We urge you to use the trail rather than the bridge.If you can’t resist the bridge, then please limit the load to one person at a time. On your way down the east side of Big Canyon you will have excellent views, since there are few trees. |
1.9 | Another Eagle Scout bench with a fine view. |
2.0 | A big Oak tree and five switchbacks. |
2.1 | The end of the loop.Back to the service road.This narrative ends.We hope you have enjoyed this walk. |
Wednesday, September 2, 2009
High Speed Rail at Hot Harvets Nights, Thursday, September 3rd
Each month at Hot Harvest Nights, the first Thursday of the month features a booth staffed by a City of San Carlos Department.
On September 3, 2009, we invite you to join Public Works Director/City Engineer Robert Weil and Mike Garvey, the High Speed Rail Outreach Coordinator from HNTB Engineering for San Mateo County. They will be at the City Booth at Hot Harvest Nights from 4:00 pm to 8:00 pm to hear your thoughts, answer your questions and share information about the Proposed California High Speed Rail project as well as the City's current and proposed Public Works projects.
More Information on These Projects on the Web
In addition to this event, you can find information on the Proposed California High Speed Rail project and the Public Works Department projects on the web. Click on these links for more information:
Monday, August 24, 2009
Town Hall Meeting on High Speed Rail - August 26, 2009
In November, 2008, California voters passed Proposition 1A, the Safe, Reliable High-Speed Passenger Train Bond Act for the 21st Century which provides funding for the proposed California High Speed Rail Project. How this project will impact local communities in Silicon Valley has been the subject of considerable interest.
On Wednesday, August 26th, Congresswoman Anna Eshoo will host a Town Hall Meeting to discuss the California High Speed Rail Project. Experts from the California High Speed Rail Authority and Caltrain will make presentations and answer questions.
Location
The meeting will be held at the Menlo Park City Council Chambers from 7:00 p.m. to 8:30 p.m. The Menlo Park City Council Chambers are located at 701 Laurel Street in Menlo Park. The location is wheelchair accessible and parking is available.
Live Webcast of the Town Hall Meeting
If you are unable to attend the meeting in person, Congresswoman Eshoo has arranged for the Town Hall Meeting to be viewed over the Internet. The live webcast of the Town Hall meeting will be available at http://eshoo.house.gov. Webcast viewers can also submit questions for the panelists via email at AskAnna@mail.house.gov. (This e-mail address is being protected from spam bots, you need JavaScript enabled to view it.)
For More Information
For more information about the High Speed Rail Town Hall Meeting on August 26th, visit Congresswoman Eshoo’s website at http://eshoo.house.gov or call her District Office at (650) 323-2984 or (408) 245-2339.
Wednesday, August 19, 2009
Back to School
I hope you all have had a wonderful summer and are busy getting in your last trip in. Enjoy!
Wednesday, August 12, 2009
How to Get First Time Home Buyer Credit
You've decided to purchase a home and take advantage of the 2009 First-Time Home Buyer Tax Credit. Here's what you have to do to get your benefit:
Close on your home purchase by November 30, 2009,
Ensure that you are a qualified first-time buyer under IRS guidelines,
Decide which year to file under, 2008 or 2009,
File an amended 2008 return or choose to apply the credit to your 2009 tax return.
Deciding When to Apply the Credit
If you want the benefits of your credit as soon as possible:
You might choose to file under your 2008 tax year. Since April 15 has already passed, you would have to file an amendment to your return. However, if you've already filed for an extension of your 2008 return, then you can simply claim the credit when you submit your return.
If you anticipate a drop in income next year:
You can wait to claim the credit as part of your 2009 filing. In some cases the value of the credit might be higher, particularly if in 2008 you qualify for only a partial credit because your income is over $75,000 (single) or $150,000 (joint).
Your Next Steps
Once you have determined which year to apply the tax credit, you will need to do two things to claim the credit:
1. Fill out Form 5405 to determine the amount of your available credit, and
2. File an amended return for your 2008 taxes, or wait and apply to credit when you file your 2009 tax return.
Wednesday, August 5, 2009
Ahhhh...Avant Gard Spa in San Carlos
AvantGard Spa Takes the Traditional Spa Experience to the Next Level
By Clarissa Stahl
When the one-floor warehouse at 1151 Greenwood Avenue in San Carlos became available for sale, AvantGard Spa owner, Blanca Caballero, knew it was time to put into motion her vision of creating a new AvantGard Spa with ancient eastern influence at its core. After two years of planning and extensive remodeling, the facility was transformed into a sanctuary using three elements: fire, earth and water. Walking through curved-walled hallways and staircases, guests are able to follow the ebb and flow of softness that the building exudes. From the 6-foot waterfall in the hallway to the glass fireplace in the lounge, every turn is soothing, warm and inviting.
Blanca Caballero was early to decide that the spa industry was the place for her. At the young age of 20, Blanca became a receptionist at a local hair salon. Even though she studied interior design, she was drawn to the beauty industry and to providing people an experience that pulls them away from their daily lives. Soon enough Blanca opened the only spa in town in 1995.
As a single mother and CEO of the Bay Area’s top Spa, Blanca explains how her children understand and appreciate her world, “My daughter Jessica is very artistic and joined the family business when she was only 16 years old. Not only is she our expert makeup artist, she was also monumental in creating the spa’s makeup line, Shanti, meaning peace in Hindi. On the other hand, my son Eduardo, what he knows about my business is that massages feel great and he loves getting them.”
Among the many influences that helped Blanca realize her vision of the new spa, her travels to Bali were paramount. It is clear that as she reminisces she is instinctively drawn to Balinese culture, “Balinese people are very spiritual and one of the kindest and gentlest I have ever met. I was able to go directly to the artists, watch them work and pick up some pieces, which I am very proud to display.” One piece in particular is an intricate pencil drawing that was purchased from an artist in the village of Kaeliki. Instead of profiting from his work, the artist chooses to preserve Balinese art traditions and use the money he makes to teach the children of his village a new trade.
Blanca also traveled to her native country Mexico, which she left at just five years of age, to purchase some finishing touches for several treatment rooms. Guests will be delighted to see how she has transformed ordinary sinks into marvelous eye catching works of art. The sinks, made by local Mexican artisans, are beautifully lined with copper, tile, or marble. Each art piece was hand selected, holds its own story and is tied to the community from which it was created.
There are ten culturally enhanced, uniquely named treatment rooms that bring guests to another country and practice. The Zen room displays an elegant 60-year old Japanese Kimono on the wall and is used exclusively for massages. Soft Japanese cushions line the floor taking your mind and body to another place for your treatment. Some of the other rooms include a Moroccan duet massage suite (Inspired), an Indian massage room (Mystical), a Balinese facial room (Abundance) and a Moroccan bath haven (Meditation). The bath room easily is a favorite room in this palace of relaxation for two reasons: 1) It is an alter – like bath that literally requires you to take a few steps up before you are able to sink back into it and 2) It is adorned with Moroccan lamps, orchids and soft candles that help any visitor realize they are worth a solitary soak of indulgence.
Superior customer service is the foundation of every treatment. All members have the hospitality spirit and make sure guests leave looking and feeling more relaxed, restored and rejuvenated. AvantGard Spa offers the most advanced products and progressive therapies to care for skin, body and total wellness. With over 40 team members that rank among the most talented in the industry, the two San Carlos locations pledges advanced spa services like no other.
For over 20 years AvantGard Spa has been committed to offering superior spa services that beautify, relax and replenish. While its core philosophies remain the same, AvantGard takes the traditional spa experience to the next level. As Bay Area residents look for something new and spectacular in the way of spa-ing, AvantGard Spa is able to offer spa-goers a choice in the way they decide to experience, pamper, and relax.
Wednesday, July 29, 2009
Are you contemplating remodeling your home or looking to move up to larger home in San Carlos?
It’s difficult to move up in this market because close of escrow is typically dependent on three homes closing. In a trade situation, the parties agree on a fair market value for each property then move forward like a regular sale and purchase. The only difference - no third transaction will cause your purchase or sale to fall out of escrow!
If you are ready to move to a custom built, 3000+ square foot home on one of the most desirable streets in San Carlos, please contact us for details.
Virtual tour: www.knollsc.com
Wednesday, July 22, 2009
Summertime and the living easy at 1001 Laurel
Light-washed interior spaces. Exquisite appointments and finishes. A central courtyard and a well-appointed fitness center. 1001 Laurel is stylish and functional—perfect for your buyers wanting a walk-around lifestyle. They're offering 1-, 2-, and 3-bedroom home designs. Check out their website for floor plans and images (a picture IS worth a thousand words!) http://1001laurel.com/homes.php Pricing starts in the $400,000's for 1 bedrooms. $600,000 for 2 bedrooms and up. HOA dues are in the low $300 to $400 depending n the square footage and include everything but electricity.
Wednesday, July 15, 2009
San Carlos | Avg Price | Median Price | Price Per Sq' | Active Listings |
Condos & Townhomes | 580,464 | 503,125 | 465 | 17 |
Single Family Under $1 Million | 825,507 | 699,000 | 500 | 23 |
Single Family Over $1 Million | 1,557,448 | 1,260,825 | 561 | 37 |
Multi-Family | 1,163,000 | 1,595,000 | 485 | 3 |
San Mateo County | ||||
Condos & Townhomes | 584,633 | 363,523 | 457 | 389 |
Single Family Under $1 Million | 662,475 | 486,454 | 439 | 633 |
Single Family Over $1 Million | 2,516,592 | 1,328,837 | 748 | 627 |
Multi-Family | 1,131,044 | 703,082 | 532 | 149 |
This gives you an idea of how San Carlos is holding up compared to the County. As you can see, condos and single family homes under $1 million in San Carlos remain strong in comparison. The average price per square foot in San Carlos for different types of properties is more consistent than that of the County.
If you have specific questions about the value of your home or the activity in your specific area, we will be happy to provide you with it. Simply call or e-mail us with your request.
We are happy to help!
Tuesday, June 30, 2009
San Carlos Summer Concerts
One of the many special things we can look forward to living in San Carlos!
Tuesday, June 16, 2009
Hot Harvest Nights Are Back!
Hot Harvest Nights - Farmer's Market - Thursday Nights When: Every Thursday night, May 7th through September 10th Sponsored by the City of San Carlos and the San Carlos Chamber of Commerce, A+ Japanese Auto Repair and Optimal Fitness Center, Hot Harvest Nights features certified produce and specialty foods, musical entertainment and walk-away food. Stores throughout San Carlos' acclaimed downtown will be open for your exploration and enjoyment. Bring the entire family to enjoy this popular annual event. |
Wednesday, June 10, 2009
San Carlos Climate Action Plan Wins NorCal APA Award!
The award is in recognition of the City's Climate Action Plan which is being developed as part of the upcoming General Plan 2030 process and the City of San Carlos' ongoing series of Green Programs and Climate Change Initiatives. The APA Award goes to the team that developed the plan led by Planning Manager Deborah Nelson, Assistant City Manager Brian Moura and Michael McCormick and Jillian Rich from PMC, a planning and consulting firm based in Rancho Cordova, CA. Work on the plan was funded with a grant from the Bay Area Air Quality Management District (BAAQMD).
The City worked with a three member Climate Action Plan Subcommittee of the General Plan Advisory Committee (Don Cook, Suzanne Emerson and Michelle Margiotta) to develop the City's first Climate Action Plan (CAP). The plan includes 21 reduction goals and 39 reduction measures aimed at reducing the City's Greenhouse Gas levels to 15% below the 2005 levels by the year 2020. The project also successfully integrated Greenhouse Gas emission reduction and climate change strategies into the Environmental Management Element of the General Plan.
In presenting the Innovation in Green Community Planning to San Carlos Planning Manager Deborah Nelson, the 2009 Awards Co-Director Eileen Whitty noted that the San Carlos Climate Action Plan merited an award for several key reasons including Making a Complex Topic Easily Understood, Clearly Outlining the Impacts of Climate Change and the Community's Carbon Footprint, Showing the Impacts of the Proposed Measures to Reduce the City's Carbon Footprint and Developing a Plan that is both Practical and Highly Implementable.
Interest in the San Carlos Climate Action Plan has been high among other agencies around the state since it is one of the first to be integrated with the City's upcoming General Plan. Presentations on the CAP have been requested and made to groups including City and County Officials in Monterey County on Earth Day, the Silicon Valley Climate Protection Task Force and the BAAQMD Climate Action Leadership Summit. The CAP will also be discussed as part of an upcoming Case Study on Public Involvement by the Institute of Local Government (ILG) and at the 2009 League of California Cities Annual Conference to be held in San Jose this September.
The 2009 San Carlos Climate Action Plan is now in its final stages of preparation. It will be discussed with the San Carlos City Council in August with final adoption scheduled in October along with the City's General Plan 2030 Update. A copy of the current draft of the CAP is available for review on the City of San Carlos Web Site at:http://www.cityofsancarlos.org/generalplanupdate/whats_new_/draft_elements/draft_climate_action_plan/default.asp
Tuesday, June 9, 2009
Watch the San Carlos TV Channel!
Measure B Passes!
San Carlos School District parcel tax, Measure B, May 2009
Measure B imposes a $78 annual education parcel tax for six years.
2/3rds of those voting had to vote "yes" for the measure to pass.
Ballot language
The question on the ballot is:
- "To protect San Carlos’ excellent elementary and middle schools; maintain high-quality programs including hands-on science, literacy programs to ensure all students read at or above grade level; attract, retain, and avoid laying off highly qualified teachers; and maintain art and music; shall the San Carlos School District impose a $78 per parcel school tax per year for six years, with independent citizen oversight, an exemption for those 65 and older, and all funds supporting local schools?"
Thursday, June 4, 2009
Cell Numbers Go Public Next Month
Wednesday, May 20, 2009
Walking Through the History of San Carlos
Wednesday, May 27, 2009
11:30 am - 1:00 pm or 7:00 - 8:30 pm
No Cost.
Meet in front of the Youth Center, Burton Park.
Register by calling Tom Davids at 591-1519 or e-mail tom@tomdavids.com
You'll learn the answers to these questions and more:
Who were Kelly and Moore?
Why is Home Depot where it is?
What industrial sites are targeted for future development?
What’s happening with PAMF?
What about the Wheeler Plaza proposal?
Learn more about the housing proposal for railroad land.
Tuesday, May 19, 2009
Breaking News - May 14, 2009 - First Time Homebuyers may get credit for down payment!
The Federal Housing Administration will soon publish a policy that will allow FHA-approved lenders, HUD-approved non-profits, and state and local housing finance agencies to "monetize" the tax credit through short-term bridge loans, Secretary of Housing said Tuesday.
This is a great time to be buying a home!!
Tuesday, April 7, 2009
Support our Schools & Property Values - Measure B
Measure B money would go to our local schools, be controlled locally and could not be taken away by the state. It would be used to support art, music, science and literacy programs.
Saturday, March 21, 2009
Solar Energy Incentives - See If You Qualify
both for the environmental impact and to reduce our dependency on foreign oil.
Incentives are available to all regardless of financial needs. This is
an energy program, not a low-income program.
Find out if you or your clients qualify for solar now. With government programs
and utility rebates, the government and agencies may pay 45%-55% or more of the price of the system. Even with financing for the rest, you can spend LESS every
month than you are spending today because of the electric savings!
Take one minute and find out if you qualify. There is no risk or obligation.
Please visit:
http://www.SaveWithSolar.org/top-ten-reasons-for-solar.cfm
and find out if you qualify. Again, there is no cost, no risk and no obligation!
Wednesday, March 4, 2009
Homeowner Affordability and Stability Plan Announced
We received the update below from the National Association of Realtors that discusses in detail the latest help planned for homeowners in trouble:
On February 18, 2009, President Obama announced his Homeowner Affordability and Stability Plan, designed to help up to 7-9 million families avoid foreclosure by restructuring or refinancing their mortgages. There are three main elements.
1. GSE Refinancing for Responsible Homeowners Suffering from Falling Home Prices.
Fannie Mae and Freddie Mac (the government sponsored enterprises, or GSEs) will refinance the mortgages for 4-5 million homeowners with loans owned or guaranteed by the GSEs. The streamlined refinancing program is designed to help borrowers with loan-to-value ratios above 80 percent up to 105 percent.
2. $75 Billion Homeowner Stability Initiative to Reach up to 3 to 4 Million At-Risk Homeowners
The goal of the 3-year Homeowner Stability Initiative is to reduce the monthly payment of homeowners to affordable levels using $75 billion from TARP and the GSEs. The program will be available for home owner-occupants “at risk of imminent default” even if they are current in making mortgage payments, as well as those already delinquent. It will only apply to mortgages at or below the GSE conforming loan limits.
Key elements of the plan:
· The lender world first be required to reduce rates, without assistance, so the monthly payment does not exceed 38 percent of borrower income (debt-to-income ratio of 38 percent). After that, federal assistance would be used to match, on a dollar-for-dollar basis, further reductions to bring the debt-to-income ratio down to 31 percent.
· After 5 years, the rate could increase gradually to the loan rate in effect at the time of the modification.
· Lenders may reduce monthly payments by reducing principal. Federal assistance would share the cost (up to the amount the lender would receive for reducing interest rates).
· As an incentive to loan servicers, they will receive $1,000 up front for each qualified loan modification. For borrowers who stay current on the modified loan, servicers will receive a monthly “pay for success” fees up to $1,000 a year for 3 years.
· As an incentive to borrowers, borrowers will receive a monthly reduction in their mortgage balance, up to $1,000 a year for 5 years.
· As an additional incentive to help borrowers avoid going into delinquency, servicers will receive $500 and mortgage holders will receive $1,500, if they modify at-risk mortgages before the borrower becomes delinquent.
· As an incentive for lenders to modify more mortgages, the Obama plan—together with the FDIC—has developed a partial guarantee initiative. The Treasury Department will establish an insurance fund of up to $10 billion to discourage lenders from foreclosing on mortgages, by limiting their lose if home prices decline more than expected. Mortgage holders of modified mortgages could receive a payment on each modified loan, linked to home price index declines.
· Treasury will establish uniform guidelines for loan modifications, working with bank regulators and the FDIC. All financial institutions receiving Financial Stability Plan assistance will have to agree to follow the guidance. The GSEs will use the guidance for their loans, and the government will work to apply them “when permissible and appropriate” to all federally owned or guaranteed loans, including Ginnie Mae, FHA, Treasury, Federal Reserve, FDIC, VA and Agriculture loans.
· The plan includes other elements, including:
o Strong oversight .
o “Allow Judicial Modification of Home Mortgages During Bankruptcy for
Borrowers Who Have Run Out of Options.” Only mortgages under GSE loan limits would qualify. Homeowners must first seek a loan modification. Legislation is needed. The plan also anticipates legislation to give FHA and VA authority to pay partial claims if there is a bankruptcy or voluntary loan modification so holders of FHA and VA guaranteed loans are not hurt.
o Funding for displaced renters and neighborhood stabilization.
o Improving Hope for Homeowners and other FHA programs.
3. Supporting Low Mortgage Rates by Strengthening Confidence in Fannie Mae and Freddie Mac
The Obama Plan beefs up the current support for the GSEs.
· The Treasury Department is doubling, from $100 billion to $200 billion for each GSE, its pledge to invest money to make sure that the GSEs maintain a positive net worth. This will further assure that the federal government is committed to maintaining the mission of the GSEs. In a statement issued today, Director Lockhart described this mission as “providing much-needed liquidity, stability and affordability to the housing market at this time.” He went on to say that doubling the commitment “should remove any possible concerns debt and mortgage-backed securities investors have about the strong commitment of the U.S. Government to support Fannie Mae and Freddie Mac.” He expects the increased commitment to help keep interest rates low, which will help both current and future homeowners. The additional $200 billion is from HERA in connection with the conservatorship, not from the Financial Stability Plan or TARP.
· Treasury will continue to buy GSE MBSs, as announced when the GSEs were placed into conservatorship.
· The GSEs will be able to increase their portfolios by $50 billion to $900 billion, and increase their outstanding debt.
· The Administration will work with the GSEs to support state housing finance agencies.
$10,000 Tax Credit for New Home Buyers in California
The California tax credit is $10,000 or 5% of the home’s purchase price if the buyer certifies that they will live in the home for at least two years and that the home will be their principal residence. Buyers will receive the credit over three years or $3,333 per year.
Home buyers could qualify for both the federal and California credit programs if they meet all the requirements.
The Franchise Tax Board’s website will track how much of the $100 million is still available starting soon.
Wednesday, February 25, 2009
State of The City Address
San Carlos Homes and Rain
Water run off from the hills can accumulate under your home or in your basement. Many homes in San Carlos have sump pumps installed. When water accumulates, they turn on and pump the water out, typically into your sewer pipes. This works great, but you want to make sure that you periodically test your sump pump. They do not last forever. We’ve had sump pumps overload and fail. Not fun.
Water sensors can be installed so that an alarm will go off if water accumulates. This is a helpful back-up system.
Most insurance companies do not cover sump pump failures. You may want to check with yours for a rider that would cover such damage as they are typically reasonably priced ~ $30 for a year.
If your water table is low (not very deep). You may also want to consider installing a well to use for irrigation during the non-rainy months. It will save you money and help conserve at the same time!
Friday, February 20, 2009
San Carlos Elementary School Ratings
Arundel – 9 out of 10
200 Arundel Rd.
San Carlos, CA 94070
(650) 508-7311
Brittan Acres - 9 out of 10
2000 Belle Ave.
San Carlos, CA 94070
(650) 508-7307
Heather – 7 out of 10
2757 Melendy Dr.
San Carlos, CA 94070
(650) 508-7303
San Carlos Charter Learning Center – 9 out of 10
750 Dartmouth Ave.
San Carlos, CA 94070
(650) 508-7343
White Oaks – 10 out of 10
1901 White Oak Way
San Carlos, CA 94070
(650) 508-7317
Monday, February 16, 2009
2009 Stimulus Package Details Emerging
Homebuyer Tax Credit – The bill provides for an up to $8,000 tax credit (capped at 10 percent of the home price or $8,000) that would be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009. The tax credit phases out for individuals earning more than $75,000 and couples earning more than $150,000.
The credit does not require repayment. Most of the mechanics of the credit will be the same as under the 2008 rules: the credit will be claimed on a tax return to reduce the purchaser's income tax liability. If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.
FHA, Fannie Mae and Freddie Mac Loan Limits -The bill reinstates last year's 2008 loan limits for FHA, Freddie Mac, and Fannie Mae loans. These limits were equal to the greater of 125% of the 2008 local area median home price or $271,050 for FHA and $417,000 for Fannie and Freddie, with an overall maximum cap of $729,750. For the few areas where the 2009 limits were higher, the higher limits will apply. In addition, the bill includes language providing the HUD Secretary with the discretion, if warranted, to increase the loan limit for any “sub-area”, i.e. an area smaller than a county. The Secretary's discretion is again limited by the $729,750 cap. These 2009 limits will expire December 31, 2009.
The inclusion of these loan limit provisions in the final bill is a victory for homeowners, buyers and Realtors. While these new limits were included in version of the original stimulus bill approved by the House, the bill first approved by the Senate did not.
Energy Efficient Housing Tax Credits & Grants - Through 2010, homeowners will be able to claim a 30% tax credit up to $1,500 (up from 10%) for purchases of new furnaces, windows and insulation. There is also $5 billion for weatherization assistance for low income households and $2 billion for federally assisted housing (section 8) efficiency efforts.
Wheeler Plaza Redevelopment
Wheeler Plaza is currently owned by the City of San Carlos (“City”) and used as a free parking lot to accommodate downtown patrons. Located behind Foodville and Le Boulanger. The Redevelopment Agency also owns two parcels adjacent to Wheeler Plaza - a retail building on one side (fronting on San Carlos Avenue) with 3 stores and a 6 unit rental housing development on the other side of the parking plaza. These properties are also part of the Wheeler Plaza Redevelopment process.
In October 2008, the City issued Requests for Qualifications for qualified firms or individuals to redevelop the parcels. After careful review and interviews, on Monday, February 9th, the City Council directed staff to begin negotiations with Silverstone communities. Stay tuned…
Friday, February 13, 2009
2008 Home Sales Statistics for San Carlos
While this is not exactly positive news, in light of what is going on in the rest of our country, it’s also not too bad. If you sell your home now, you might get less for it, but you can also buy a new home for less – it’s all relative.
Please be aware that due to the downturn for the year in San Carlos, home equity lines are being reviewed by many banks. Banks may freeze the lines at the current value and request a review to reinstate them. If you have an equity line with credit available that you may need in the near future, you may want to withdraw it now to avoid any problems.
If you have specific questions about the value of your home or the activity in your specific area, we will be happy to provide you with it. Simply call or e-mail us with your request.
We are happy to help!
Wednesday, February 11, 2009
Areas in San Carlos
There are 6 designated real estate areas in San Carlos. They are roughly divided by the main streets in San Carlos: Alameda de Las Pulgas, Brittan, El Camino Real and San Carlos Avenue.
1) Area 350 Alder Manor - brown
2) Area 351 Beverly Terrace - purple
3) Area 352 White Oaks/El Cereno - red
4) Area 353 Howard Park - blue
5) Area 354 Clearfield Park - yellow
6) Area 355 Cordes - green
For more information on an area or to see which area you live in, please contact us.
Decline on Property Value Tax Reduction Alert:
In the past week, San Mateo County property owners have been blanketed with solicitations from private companies that are luring people to spend money to reduce their property taxes. These companies cannot guarantee reduction in property taxes to anyone. The law establishes which properties are eligible for this property tax relief program known as a "Decline in Value."
A "Decline in Value" request is FREE to any homeowner. We need your help to get the word out--tell your constituents, employees, friends, neighbors and family NOT to get ripped off--do NOT pay for these services. If anyone should ask, this is how the Decline in Value program works:
First, a property owner requests a Decline in Value review by filling out a simple form and sending to the Assessor's office (online, by fax, mail or in person). It only takes a couple of minutes to complete.
Second, our offices review the request. If a property's assessed value is more than its market value as of Jan. 1, the property owner will be eligible for a temporary reduction in assessed value. We will start the process that will lower their property tax bill or earn them a property tax credit.
Third, if the property is ineligible for relief, we will advise the owner as to why their property did not qualify for a reduction.
Where can someone get a form? Decline in Value request forms are available online and in downloadable paper formats from our web site at www.smcare.org. We will also mail them to a property owner and forms are available in our office if a person stops by.
And lastly, properties that are reduced are reviewed by the office on an annual basis. If the property continues to qualify, it will remain on the program in future years until the property's value is regained.
Please help us spread the word. I've attached the press release that we sent to the media and samples of the solicitations. You will note that is very professional looking and that is why it may snare unsuspecting property owners into this scam.
Thank you,
Warren Slocum
2/10 Broker Tour
Highlights of Tuesday’s tour, 2/10/2009 in San Carlos:
There is a beautiful older – but completely renovated – 4 bedroom 2 ½ bath Tudor home on Madrona that was on tour today. It's a lovely home with a lot of character, charm plus designer touches and upgrades. It has wonderful views and a nice landscaped backyard. It also has a separate office that is currently being used as an artist studio. The office is not connected to the main house and is accessible from the front side. The main considerations I see are the many levels and stairs. You need to go upstairs to get into the house and the master suite (which is large and gorgeous) is also upstairs. Arundel Elementary and Carlmont High School districts. At $1,359,000 and the seller willing to buy down buyers interest rate up to 2 points on the loan – it’s definitely worth a look!
There were 2 homes in close proximately that were very different. One was a 3/2 on Clifford that was 1750 sq’ and tastefully upgraded for $962,000. The other was a 4/2.5 around the corner on Victoria Manor that was 2470 sq’ and listed for $1,399,000. Both are in Clifford Elementary and Sequoia High School districts. Victoria Manor was larger and on a quiet cul-de-sac, but it was not as appealing inside.
We have some clients interested in investment property, and there was a duplex on tour on Laurel Avenue. While we were unable to go inside, as it is tenant occupied, I drove by to check it out. It’s on a nice quiet part of Laurel with wide streets. The duplex was in nice condition and attractive from the outside. Each 2-bedroom 1bath unit has been professionally renovated. Private decks with yard full of fruit trees. Beautiful Bay view. Both units have full basements for home office or additional storage. Listed at $1,125,000 with a reported rental income of $50,280 per year. Not bad!