We've talked to buyers, sellers, Realtors and lenders. The topic of market bottom arises with all. Many seem to feel that the bottom of the market is going to be like the second coming. I can see it now in all of its Hollywood glory - the gloomy clouds part, that golden ray of Divine light bathes the dream home in radiance. Housing has rebounded and we can all now return to the glory days of assured appreciation.

There is a method of ascertaining the bottom of the market. It's been proven to be accurate time and time again throughout history. It's called hindsight. Being able to nail the market to bottom seems to be a reflection of our times. More and more we see technology and the availability of instant information playing into the mind's obsession with control.

Fixating on trying to predict the bottom of the market, getting an interest rate at an historic 100-year low or any other single factor cannot only cost you the house of your dreams, it may cost you more money in the long run. There are major changes happening in the lending industry. Some of these will affect many people's ability to buy a home - even people with good credit.

Dan Green over at The Mortgage Reports gives us just one example of what's coming down the pike.

Another example is the FHA reform bill working it's way through Congress.

On another note, it seems the rumor we heard back in September was more fact than fiction. Alliance Title closed it's doors last Thursday.

Here is a link for those that don’t know what a blog meme is. 

And here is a link if you don’t know about Pay it Forward.

I was thinking that the concept of Paying it Forward would be a great action to initiate during the holidays, so I am going at it from two different angles. On this post, from the perspective of recognizing people that I have met this past year that inspire me. Over on AgentGenius, I am coming at Pay it Forward more traditionally.

As I was reflecting on 2007, my thoughts turned to a few individuals that I had met this year that really inspired me. I wanted to take the time to acknowledge them, let the world know about them and why they inspire me, and encourage everyone to do the same.

Pay it Fourward 2007 – Tell the world about four people you met in 2007 that inspire you.

Jeff Turner – Jeff is a real gift of a person that just keeps on giving. He turns up in my thoughts in the most astounding ways and at the most surprising times. I’ve been wondering why. It seems to revolve around two words – inspiration and integrity.

I don’t have a clue what it is about Jeff that infuses me with inspiration, but I feel like Jack Nicholson in As Good As It Gets when I talk to or think about Jeff – “I want to be a better person.”

I met Jeff at Inman’s Blogger Connect in San Francisco in July. Since then, I have had the opportunity to brainstorm a few things with him and in all of the interactions there is an aura of integrity and authenticity that pervades the interaction.

Jeff Turner is a great guy to know. I recommend you do.

Joseph Natividad – Joe is one the year’s best surprises. Here is the story of how I met Joe and here is his interview over on Inman News (subscription required).

Joe is an inspiration to me because he is curious, kind, has an interesting mind, is a typical atypical young adult, and is rather shy and modest. Joe is the kind of guy that gives me hope for tomorrow.

In this age of subpar intelligence and mediocre aspirations, Joe is a breath of fresh air. Follow his writings for a few months just for grins.

Dean Guadagni – I may have actually had the handshake and formal introduction to Dean in late 2006, but I can safely say I didn’t really know Dean until he started writing on his blog – DeansGuide.

Dean boggles my mind. He inspires me to attempt the impossible – to write with as much flair and sensitivity as he does. I’m thinking that maybe a week in a sweatlodge with Dean might result in some form of mystical osmosis vis-a-vis my writing skills.

Dennis Viers – Early in 2007, Dennis and Kris Viers approached me with the idea of forming a strategic partnership with The Harper Team. It’s been one inspiring revelation after another ever since.

Dennis lives about 3 blocks from Craig and Tracey (we had no idea). He’s the chariperson for the San Ramon Planning Commission (community activist). He plays a mean bass guitar!

The inspiration I experience around Dennis seems to revolve around aging gracefully, having fun and all of us being good representatives of our generation. Dennis is just plain fun and good company. Dennis’ picture is in the dictionary under – great guy to hang out with. Be yourself, enjoy yourself, others and life is the message Dennis communicates.

These are the four people who come clearly into my mind when I reflect on inspiring people I have met in 2007.

Pay it Fourward – leave a comment with a link to four inspiring people you have met this year. I’ll drop by to read about them and learn more about you along the way.

How does a home owner compete with a bank owned property? This is a question more and more homeowners in the TriValley area are having to ask themselves as more short sales and foreclosures crop up in local neighborhoods.

The first piece of advice for San Ramon, Danville and Dublin homeowners facing this situation is: don’t panic. The second is: don’t get hung up on price.

Bank owned properties are often in disrepair because the vacating homeowners quit putting their money into upkeep long ago. And banks will usually not invest their money in making needed repairs.

So, the first line of defense is home repair and curb appeal. Homeowners competing with bank owned properties need to have the better valued house, a home people can move into without investing $25K or more in repairs and cleanup.

Banks, in trying to reduce the costs of unloading a foreclosed property, will usually cut the commission offered to any real estate agent bringing them a buyer. San Ramon, Danville and Dublin homeowners can encourage agents to bring more buyers by out-performing banks on agent commission.

Given the current market conditions (too many homes and too few buyers) it is good to offer the full 3% to the buyer’s agent.

In-depth real estate market details for local communities can be obtained here.

According to information gathered by the Wall Street Journal and published on their website, the median price of homes in the East Bay of California has defied the national and state trend. Given all that has happened in the U.S. housing industry, the median price of homes in many of California’s East Bay communities remains stable or continues to appreciate. The California Association of Realtors recently referred to this as the California Conundrum.

Downward pressure on the median price of homes in the area is coming from the bottom third of the market.

Take a look.

I was talking to Stacy Kennedy at the Realtors Marketing Association last Thursday in San Ramon and she informed me that she and her partners are working with an organization to supply an answer to the Short Sell Problem facing our Nation.

They will be selling their Pacific Auction Exchange franchise and doing business as SIMA. Reason for the change?  As far as I can tell, they are seeking a new direction that will be effective Nationwide. 

SIMA will have offices in Pleasanton and also in Southern California.Home auctions are increasing in popularity and what surprises many people is that most of the properties Stacy and her partners sell are not properties in trouble or facing foreclosure.

Give a listen as Stacy talks about 4040 Jensen Street in Pleasanton which will be auctioned on Saturday, December 15^th at 12:07pm.