- The home has be well maintained.
- The windows in the back are large; opening the house up to the backyard
- Stone floor entry way .
- 1420 sq. ft.
- Built in 1953
Further Amenities Include:
- Lot approximately 6000 sq sf.
- separate family room
- 1 car attached garage
- Fully landscaped , private backyards
- separate office shop with roll up door in the backyard
- and much more!
You will love the house and will call it your home!
Priced to sell quickly at $759,000! For more information on this property or other properties please visit my website at :650-931-8484 James Light DRE License: 01859975 Intero Real Estate Services
Open House Sunday 1-4 pm
A Loan To Complete Construction In California
Do you need a loan to complete construction in California? I may be able to help you. I have access to private money that will loan to complete construction on a wholesale basis, as well as working directly with borrowers.
There are several reasons why you may need a loan to complete construction. First, perhaps you were funding construction out of your own savings, and have run out of funds that you want to commit to the project.
Second, the project may have become more expensive due to upgrades or unforeseen circumstances.
Third, you may have a loan, but your construction lender may have gone out of business! Ouch!
No matter what the circumstances, if this happens, you need a loan to complete construction. Here are some of the parameters that my private money source in California requires:
First, the loan amount must be between $1 million and $5 million dollars. This source for a loan to complete construction likes the high-rent districts!
Second, the maximum loan-to-value percentage is 65% of the future completed value.
Third, the maximum term is three years. However, most of the time, a loan to complete construction will be one year.
Fourth, the minimum credit score must be at least 640. The credit score used is the middle score of three credit scores supplied by the three credit bureaus.
To apply for a loan to complete construction, there are three parts of the approval process.
The first part of the approval process is qualifying the borrower. This part of the qualification process is similar to applying for a loan to finance a completed home. A loan application, income documentation, and asset documentation must be provided.
The second part of the approval process is qualifying the contractor. The contractor must provide adequate insurance and a resume of completed projects to demonstrate his ability to complete the job in a workmanlike manner.
The third part of qualifying for a loan to complete construction is providing project documentation. This documentation consists of plans, permits, a construction contract, cancelled checks and receipts for work completed, and a list of building materials.
Trying to get a loan to complete construction can be stressful! My best advice is to be organized as best you can with your documentation, starting with the first receipt you have from the beginning of the project. Organization will help minimize your stress level.
Do you need help structuring a loan, or getting a rate quote? Call me at (650) 222-0386, or e-mail me
Open House Sunday 1-4 pm San Mateo, CA
- The home is a BANK OWNED Home that has be well maintained.
- The kitchen has been updated
- Hardwood Floors.
Further Amenities Include:
- Lot approximately 6000 sq sf.
- separate family room
- 2 car attached garage
- Fully landscaped , private backyards
- newer roof
- and much more!
You will love the house and will call it your home!
Priced to sell quickly at $558,900! For more information on this property or other properties please visit my website at :650-931-8484 James Light DRE License: 01859975 Intero Real Estate Services
Gotcha!: Part 1 - Your Client's Money Is Not Their Money!
Do you feel like lenders are doing everything they can to not make loans instead of make loans? I do. Many of them tease you with a loan approval, but then, GOTCHA! They have a condition attached that makes it impossible to get the loan done.

This series will examine some of the conditions we mortgage originators see that sabotage otherwise strong loan files. I will try to point out the steps to take so that these gotchas don't happen to your clients. I encourage other mortgage originators to contribute to this series. We can either re-blog each other's articles and/or add each other as contributors to our ActiveRain outside blogs so that we can educate our real estate agents and have content to provide to our readers.
The first gotcha I would like to prevent is when the lender tells my client that their money is not their money. This can happen to self-employed clients.
Many business owners have business bank accounts. When a client is a business owner, and wants to use funds from their business bank account, lenders usually have a condition that reads something like this:
"Applicant to provide letter from tax preparer stating that the applicant has 100% access to the funds from the business bank account, and that the withdrawal of these funds will not effect the functioning of the business"
Here's the problem: clients are having a very difficult time getting this letter from their tax preparer. Understandably so. Tax preparers do not want to be liable for making the statement required by the lender.
So, you ask, what is the solution? The solution is to prepare early. Lenders do not require this statement from a tax preparer if the funds are in a personal account of a self-employed applicant. If the applicant transfers the funds needed to a personal account, and keeps it in this account for two to three months (depending on the requirements of the lender) then these funds will be considered seasoned funds, and they can be used for the down payment, closing costs, and/or cash reserves.
It seems kind of silly, doesn't it, when a sole proprietor has to play this game. Suppose I had a bank account called "Phil's Mortgage Business". I am a sole proprietor, and the lender is telling me that this is not my money to use? Well, now that we know the rules of the game, let's play by the rules of the game.
My advice to real estate agents is to ask your self-employed clients at your first meeting if they are planning to use funds from their business account. If they say yes, e-mail them this blog post!
Do you need help structuring a loan, or getting a rate quote? Call me at (650) 222-0386, or e-mail me
Earthdance Performance at NDNU, Belmont CA
"Rarely have I been held in thrall for such a sustained period of dance." Keith Kreitman, San Mateo Journal
Please come join us for an Encore presentation of New Ground Dance Theatre's Premiere Production, "Earthdance."
Two performances only!
Ticketing Information: (650) 508-3456 or boxoffice@ndnu.edu
Performances are: Friday, January 8th at 7:30pm and Saturday, January 9th at 7:30 pm
This production of Earthdance is presented by Notre Dame de Namur University's Department of Theatre and Dance, and the NDNU Dorothy Stang Center for Social Justice and Community Engagement. All proceeds will benefit the NDNU Department of Theatre and Dance and the Dorothy Stang Center.
Please forward this invite liberally even if you won't be joining us - perhaps a friend would like to support the work of the Dorothy Stang Center or NDNU Theatre and Dance?
In order to do so simply, click the "Invite Guests" link, then add your facebook friends (or a list of email addresses), and a personal message (if you like), and choose the "Send Invitations" button...that's it! You have our Thanks!
Childproofing Your Home: 12 Safety Devices to Protect Your Children
Childproofing Your Home: 12 Safety Devices to Protect Your Children
About 2.5 million children are injured or killed by hazards in the home each year. The good news is that many of these incidents can be prevented by using simple child-safety devices on the market today. Any safety device you buy should be sturdy enough to prevent injury to your child, yet easy for you to use. It's important to follow installation instructions carefully. In addition, if you have older children in the house, be sure they re-secure safety devices. Remember, too, that no device is completely childproof; determined youngsters have been known to disable them. You can childproof your home for a fraction of what it would cost to have a professional do it. And safety devices are easy to find. You can buy them at hardware stores, baby equipment shops, supermarkets, drug stores, home and linen stores, and through online and mail-order catalogues.InterNACHI inspectors, too, should know what to tell clients who are concerned about the safety of their children. Here are some child-safety devices that can help prevent many injuries to young children.1. Use safety latches and locks for cabinets and drawers in kitchens, bathrooms, and other areas to help prevent poisonings and other injuries. Safety latches and locks on cabinets and drawers can help prevent children from gaining access to medicines and household cleaners, as well as knives and other sharp objects.
Look for safety latches and locks that adults can easily install and use, but that are sturdy enough to withstand pulls and tugs from children. Safety latches are not a guarantee of protection, but they can make it more difficult for children to reach dangerous substances. Even products with child-resistant packaging should be locked away out of reach; this packaging is not childproof.
Typical cost of a safety latch or lock: less than $2.
2. Use safety gates to help prevent falls down stairs and to keep children away from dangerous areas. Look for safety gates that children cannot dislodge easily, but that adults can open and close without difficulty. For the top of stairs, gates that screw into the wall are more secure than "pressure gates."
New safety gates that meet safety standards display a certification seal from the Juvenile Products Manufacturers Association (JPMA). If you have an older safety gate, be sure it doesn't have "V" shapes that are large enough for a child's head and neck to fit into.
Typical cost of a safety gate: $13 to $40.
3. Use door knob covers and door locks to help prevent children from entering rooms and other areas with possible dangers, including swimming pools.
Be sure the door knob cover is sturdy enough not to break, but allows a door to be opened quickly by an adult in case of emergency. By restricting access to potentially hazardous rooms in the home, door knob covers could help prevent many kinds of injuries. To prevent access to swimming pools, door locks should be placed high, out of reach of young children. Locks should be used in addition to fences and door alarms. Sliding glass doors, with locks that must be re-secured after each use, are often not an effective barrier to pools.
Typical cost of a door knob cover: $1; door lock: $5 and up.
4. Use anti-scald devices for faucets and shower heads, and set your water heater temperature to 120° F to help prevent burns from hot water. A plumber may need to install these.
Typical cost of an anti-scald device: $6 to $30.
5. Use smoke detectors on every level of your home and near bedrooms to alert you to fires. Smoke detectors are essential safety devices for protection against fire deaths and injuries. Check smoke detectors once a month to make sure they're working. If detectors are battery-operated, change batteries at least once a year, or consider using 10-year batteries.
Typical cost of a smoke detector: less than $10.
6. Use window guards and safety netting to help prevent falls from windows, balconies, decks and landings. Window guards and safety netting for balconies and decks can help prevent serious falls. Check these safety devices frequently to make sure they are secure and properly installed and maintained. There should be no more than 4 inches between the bars of the window guard. If you have window guards, be sure at least one window in each room can be easily used for escape in a fire. Window screens are not effective for preventing children from falling out of windows.Typical cost of a window guard or safety netting: $8 to $16.
7. Use corner and edge bumpers to help prevent injuries from falls against sharp edges of furniture and fireplaces. Corner and edge bumpers can be used with furniture and fireplace hearths to help prevent injuries from falls, and to soften falls against sharp and rough edges.
Be sure to look for bumpers that stay securely on furniture and hearth edges.
Typical cost of a corner and edge bumper: $1 and up.
8. Use outlet covers and outlet plates to help prevent children from electrical shock and possible electrocution.
Be sure the outlet protectors cannot be easily removed by children and are large enough so that children cannot choke on them.
Typical cost of an outlet cover: less than $2.
9. Use a carbon monoxide (CO) detector outside bedrooms to help prevent CO poisoning. Consumers should install CO detectors near sleeping areas in their homes. Households that should use CO detectors include those with gas or oil heat or with attached garages.
Typical cost of a carbon monoxide (CO) detector: $30 to $70.
10. Cut window blind cords; use safety tassels and inner cord stops instead to help prevent children from strangling in blind-cord loops. Window blind cord safety tassels on miniblinds and tension devices on vertical blinds and drapery cords can help prevent deaths and injuries from strangulation in the loops of cords. Inner cord stops can help prevent strangulation in the inner cords of window blinds.
For older miniblinds, cut the cord loop, remove the buckle, and put safety tassels on each cord. Be sure that older vertical blinds and drapery cords have tension or tie-down devices to hold the cords tight. When buying new miniblinds, vertical blinds and draperies, ask for safety features to prevent child strangulation.
Prices vary.
11. Use door stops and door Hholders to help prevent injuries to fingers and hands. Door stops and door holders on doors and door hinges can help prevent small fingers and hands from being pinched or crushed in doors and door hinges.Be sure any safety device for doors is easy to use and is not likely to break into small parts, which could be a choking hazard for young children.Typical cost of a door stop and door holder: less than $4.
12. Use a cell or cordless phone to make it easier to continuously watch young children, especially when they're in bathtubs, swimming pools, or other potentially dangerous areas. Cordless phones help you watch your child continuously without leaving the vicinity to answer a phone call. Cordless phones are especially helpful when children are in or near water, whether it's the bathtub, the swimming pool, or the beach.
Typical cost of a cordless phone: $30 and up.In summary, there are a number of different safety devices that can be purchased to ensure the safety of children in the home. Homeowners can ask an InterNACHI inspector about these and other safety measures during their next inspection.
Open House: 851 Parrott Drive San Mateo CA
- The home is a RANCH STYLE HOUSE Home that has be well maintained.
- The kitchen has been updated
- Hardwood Floors. Master Bedroom Suite, Wood Burning Fireplace
Further Amenities Include:
- Lot approximately 1/3 of an acre.
- backyard Hot Tub
- 2 car attached garage
- Fully landscaped , private backyards
- level lot
- and much more!
You will love the house and will call it your home!
Priced right at $1,149,000! For more information on this property or other properties please visit my website at :650-931-8484 James Light DRE License: 01859975 Intero Real Estate Services
What's moving in San Mateo Westwood Knolls?
Here is a list of the active homes for sale in the San Mateo Westwood Knolls neighborhood.
| Street Address | City | List Price | Beds | Baths (F|P) | Bldg SqFt | Lot Size Range | Class |
| GREENFIELD CT | San Mateo | $1,548,000 | 4 | 3|0 | 3000 | .25+ to .5 Acre | 1 |
| EASTWOOD DR | San Mateo | $998,000 | 4 | 3|0 | 2680 | 4,500+ to 6,500 SqFt | 1 |
| HACIENDA ST | San Mateo | $799,900 | 3 | 2|1 | 2610 | 4,500+ to 6,500 SqFt | 1 |
| KING CT | San Mateo | $799,500 | 0 | 4,500+ to 6,500 SqFt | 3 | ||
| WILSHIRE AV | San Mateo | $799,000 | 4 | 3|0 | 1280 | 4,500+ to 6,500 SqFt | 1 |
Update on the active properties of the San Mateo Knolls neighborhood. Invertory continues to shrink and there are still many buyers looking on the market. With properties priced right, they don't last long. With very view properties on the nmarket, sellers are in control of accepting the offers. Many times it turns out to be multiple offers. If you or someone is looking in the San Mateo Westwood Knolls neighborhood please feel free to contact me.
Have a great day!
Jim Light
www.interorealestate.com/agents/jameslight

Spread The Word - There Is A Reverse Mortgage Alternative For California Homeowners
Financial Advisors, CPAs, insurance agents, real estate agents, estate planning attorneys, and in-home care providers in California need to know that there is a reverse mortgage alternative available.
The reverse mortgage alternative is called Equity Access. Equity Access provides monthly income to homeowners above the age of 60 (the youngest homeowner must be at least 60) in return for a share of the future value of the home.

Here are some of the features:
- There are no closing costs to enter into an Equity Access Agreement
- No debt is incurred with an Equity Access Agreement
- The homeowner does not have to pay off their mortgage(s)
- The homeowner decides how long they want payments for (from 10 to 25 years)
- The homeowner decides how much equity they want to share
- An attorney is required to review the Equity Access offer to protect the homeowner
- There are no income requirements
- The age of the youngest homeowner
- The value of the home
- The amount of mortgage balance(s)
- The type of mortgage(s)
- How long they want payments
- How much equity they want to share

There are probably other professionals that could benefit from this information. If you know of a certain type I missed, I would love to know.
Which is better, a reverse mortgage or Equity Access Agreement? Like any financial tool, one product may be more suitable than the other. But it's nice to know that senior homeowners in California now have an alternative.
Spread The Word!
Do you need help structuring a loan, or getting a rate quote? Call me at (650) 222-0386, or e-mail me
How To Get A 15 Year Fixed Rate in Atherton - And Keep The Payment Low!
Normally, homeowners in Atherton don't want a 15 year fixed rate because the payments are too high. Now there is a twist on a 15 year fixed rate that can keep your payment low!
This loan has a 40 year term. Initially it is a 15 year fixed rate. During the 15 year fixed rate term, the payments are interest-only. Because the payments are interest-only, the payment is a lot lower than an amortized 15 year fixed rate.
Here's the neat part - if you pay principal during the 15 year fixed rate term, the payment decreases because the payment is based on the reduced balance!
After the 15 year fixed rate term expires, the rate adjusts once. The rate is determined by adding .5% to the Fannie May 60 day rate.
The new payment is based on the new rate, amortized over 25 years. Hopefully you have paid off enough of the principal during the 15 year fixed rate period so that the payment doesn't increase! The new rate can't be more than 5% higher than the initial rate.
As you know, homes in Atherton are very expensive. This program works well here because the maximum loan amount is $5 million.
This loan program is available to purchase or refinance expensive homes, such as those located in Atherton. One of the nice features is that there is no limit on the dollar amount of cash-out. Many loan programs are limiting the amount of cash-out to refinancing homeowners.

Another nice feature is that this program can be used to finance second homes at a slightly lower loan-to-value percentage. It is one of the few competitive jumbo loan programs that I am aware of that allows cash-out on second homes.
If you own a home in Atherton or in other expensive areas of California, and like the idea of a 15 year fixed rate with interest-only payments to keep the payment low, contact me to see if this program is a good fit for you.
Do you need help structuring a loan, or getting a rate quote? Call me at (650) 222-0386, or e-mail me
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