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Our metropolitan areas face unprecedented changes. With resources becoming scarce, climate change, traffic congestion, changing lifestyles, and unstable home prices, a reorganization of our cities using smart growth and sustainability principles is a necessity.

At the Brentwood Business Center we are aware of these changes and are critical to becoming sustainable. The challenges of creating such industrial parks require experts grounded in demographics, markets, public policies, and finance. The BBC has earned local recognition as a leader in real estate development. We go far beyond traditional services, integrating a personal touch into our work. With our hands-on approach, and attention to quality, achieving repeated success for our clients is a guarantee.

The BBC continues to fulfill our mission as a sustainable leader by the use of green cleaning products, efficient lighting, recycling, reduction of energy use, and encouragement of employee alternative commute methods.

At some point, your plans to start a new business may lead you on a search to find a suitable location. If you pick the right location, you'll be made in the shade. Pick the wrong one, and your business could be over before you know it.

Selecting an office space can be a rather difficult endeavor. To try to make the process a little easier, we're listing some things your should consider about any prospective rental property.

The square footage of the property is important. But, don't just think about the rentable square footage, which is the figure the landlord will give you. Instead consider the usable square footage of the office space, the amount of the property which you will actually be able to use. To get this figure, measure the interior of the office space where you will actually be working. Make sure the usable square footage is enough for your business.

Next, find out about utilities. For some properties, the utilities are included in the lease. But, for others, whoever rents the office space is responsible for paying for the heat, electric, and water bills. If you are responsible for these bills, it can obviously make a big difference in the amount you are paying each month for your office space.

If you depend on foot traffic for retail sales make sure your office space is visible from the street and that there is adequate parking. Don't rent an office space that is secluded unless your business does not rely on customers or clients coming in. If you do have customers during the day, be sure the location has adequate parking. You do not want customers or clients choosing not to stop at your business because the parking lot is full.

Find out about outside signage ordinances for the area. In some cases the landlord is responsible for providing signage, which saves the tenant money. In some cases the city or township may have certain laws about what types of signs an office space is allowed to have. For example, you may not be allowed to put up a neon business sign or a billboard that is taller than six feet. It is important to check the ordinances so that you do not get fined and so that you do not have to take down any expensive signage.

Lastly, ask about the onsite management services and get to know who's managing the building. An onsite management team is indispensable. Should an issue arise, an onsite team can act immediately, responsively and effectively. Look around, is the place clean? Attentive onsite management teams routinely take care of the details that keep the building running smoothly.

Finally, be diligent. Get as much information as possible, and work to understand issues before you make your selection. By sticking to these principles, you decision will always be the wise choice. Never overpay, but if the numbers are right, don't be afraid to pay a little extra for that perfect location. In the end, the building should contribute to your company's bottom line.

You're paying your bills on time, but your landlord isn't. Now you are the one holding the eviction notice. So what next?

This scenario is becoming all-too-familiar for thousands of renters nationwide. Unintended victims of foreclosures are dealing with problems first hand due to the failing economy. Banks are booting good tenants into the streets with little to no notice. Some banks are even seizing property from a delinquent owners, ignoring tenant leases. In some cases, families are forced into shelters for temporary housing because they have little or no savings to cover moving costs such as a first month's rent, and a security deposit. Some landlords are not even coughing up the security deposit left by the tenants. If you, or someone you know is faced with a similar situation, there is a solution.

Thankfully Fannie Mae has pledged to change that with its new renter policy starting this month. The plan will allow renters living in foreclosed properties to sign new leases with Fannie while the property is up for sale, or give the tenants money to move. Fannie has yet to establish the length of the leases, and the amount of move-out assistance will vary by state and property.

Freddie Mac has also jumped on board and said it would unveil a similar program in the next few weeks. But how does a renter know if his landlord has a mortgage held by Fannie Mae or Freddie Mac?

Fannie Mae plans to reach out to tenants, spokesman Brian Faith said.

Since most tenants don't normally know the details of their landlord's mortgage arrangements, Fannie Mae will be contacting the tenants in foreclosed properties they own to make them aware of the option to stay in their home through a lease with Fannie Mae.

Fannie estimates about 4,000 tenants live in the company's foreclosed properties and would be eligible for the plan.

Unfortunately, that's just a fraction of renters facing the consequences of a landlord's foreclosure. About 40% of all renters, live in single-family homes, many of which are owned by mom-and-pop investor landlords. This is where the risk lies.

What should you do if you receive a foreclosure or eviction notice?

1. Call the sheriff's department first. Find out how long the foreclosure process takes. Is it 60 days or 90 days? Knowing your timeline to work with will help you prepare for the worst-case scenario.

2. Find out the rental laws in your state. Some states, including California, have recently passed legislation giving renters a grace period, ranging from 30 days and up, to stay in a property after it has been sold in foreclosure. Other states are considering similar legislation.

3. The lender's name or its lawyer will be on the eviction notice. Contact either one to let them know you are in the property. Find out what your options are. Will the lender let you sign a new lease? Or is the bank offering some cash assistance for moving out? Don't let the lender bully you into moving out sooner than stated by law.

4. If you are nervous about negotiating with the lender on your own, contact a local nonprofit housing counseling agency for help. HUD's website lists agencies by state, or you can call (800) 569-4287.

5. The U.S. Department of Housing and Urban Development outlines tenant rights by state on its website at www.hud.gov

At the Brentwood Business Center there is a true feeling of community spirit here. To help facilitate more business for our tenants we like to inform the community about local activities and events that are planned throughout the year with our community newsletter we call The Brentwood Insider. The Brentwood Insider keeps the tenants and the entire San Francisco East Bay involved in our community and the surrounding areas. The newsletter also provides coupons to local shops, and useful information about tenants and other opportunities are available at affiliate properties.

The Brentwood Insider was established in 2006 to provide a medium between the community and our tenants. Keeping the community informed on these events and matters directly impact charitable causes. Published at the beginning of every month, our newsletter is sent out via email in the form of an eBlast and also available online at www.thebrentwoodinsider.com. The eBlast has been very effective in directing traffic to the website and to the events. Thanks to your support the Brentwood Insider has been a success and will continue to set the city of Brentwood apart from the rest.

To be apart of our community newsletter and begin receiving monthly eBlasts with all the local events, email us at offer@brentwoodbusinesscenter.com.

Rates for a 30-year fixed mortgage remain low today, this morning they were at 5.37%, according to Zillow Mortgage Marketplace. After a couple weeks of steady declines, how much lower will it go? At one point last week, they hit a low of 5.10%!

After investigating the rates we noticed how much lower than they were even a month ago. Check out this chart:

Weekly average rates for 30-year fixed mortgages also fell last week from 5.53 percent the week before to 5.34% last week. The weekly average mortgage rates are even lower in some states. The good news is that the rates here in the San Francisco bay area have been lingering, and if you're on the market for a new home, you may be in luck.

The Wall Street Journal is reporting that the Treasury Department is flirting with the idea of 4.5%, but our analysis behind the headline sheds doubt that for the 4.5% to happen, a lot of other things need to happen first. So, if you are in need of a mortgage, check with your lender to see what rates are in your area.

Based in the San Francisco east bay, the Brentwood Business Center's growth has been quite impressive. Nate Lorenzini attributes the current success of the BBC to its tight structure, and the ability to control all aspects of its online presence. Nate also recognizes that commercial real estate is a long-term business, and to stay on top you must be able to change your marketing strategy as technology advances. Deploying a content management system to the Brentwood Business Center website was inevitable, and a sign of the changing times in the real estate market and web technology. Nate Lorenzini chose JVF Consulting to customize their website with our content management system.

Maintaining the website for largest auto & industrial community in Brentwood, CA was becoming an extremely tedious job for the crew at the Brentwood Business Center. With new tenants moving in, and current tenants moving to larger suites, keeping the website up to date with the latest addresses and contact information was at a snail's pace. Coordinating between the manager, owner, broker, and webmaster to have the most basic changes made required lots of man hours.

To solve this problem JVF Consulting custom built the Amass Content Management System to power every aspect of the Brentwood Business Center website. From the copy ad images, to the list of available spaces, Amass ensures that Brentwood Business Center will provide the latest and greatest information to their customers and future tenants. To make the BBC website more interactive to prospective clients, JVF integrated the detailed information about the available spaces from the leader in online commercial real estate listings LoopNet. Now all of the LoopNet information about the available property is right at your fingertips. This integration keeps visitors on the BBC website, without the need to navigate away.

By implementing the Amass Content Management System to the Brentwood Business Center website, Nate Lorenzini and his crew can finally focus on their real jobs. The tenants of the Brentwood Business Center no longer hound them for website updates because most all the changes are made instantly with Amass CMS. And with the list of available spaces easily accessible on the web, there are less pointless calls about availability into the main office. With the power of Amass, and the success of the Brentwood Business Center, now is the time for your to implement the JVF Amass Content Management System to your website.

 

Most landlords who have not received their rent checks are finding that more renters and leasers are disappearing completely. Most have vacated their premises without notice.

When rent is due and unpaid for 14 consecutive days, and you believe the premises have been abandoned by all tenants, a landlord may serve a Notice of Belief of Abandonment. If the tenant fails to respond within the notice period, you may then change locks and take possession of the unit.

The notice period is 15 days if personally served, and 18 days if served by mail. In order to respond, a tenant would have to give a written statement indicating that the premises are not abandoned and provide an address where an unlawful detainer action may be served by certified mail. You would retain the right to bring a breach-of-contract action against your former tenants for unpaid rent for the time period until you find a new tenant, or the lease expires, whichever comes first.

According to the real estate report released Thursday November 20th, 2008. With banks unloading a record number of foreclosures, bay area home sales soared, while the median price plummeted. With the numbers in, our hypothesis is now a fact. I hate to say it, but this is exactly what we expected.

Despite an economic crisis and a stock market plunge, the fire-sale prices pulled more buyers into the market. A total of 5,624 resale homes changed hands in the nine-county Bay Area in October, up 66.2 percent from a year ago.

The Bay Area median price hasn't been this low since October 2001, when it was $370,000. However, the median's tumble reflects more the swing to lower-priced homes in lower-priced areas where foreclosures are commonplace, rather than an across-the-board depreciation. This doesn't mean every Bay Area house has gone back to 2001 levels, but it does tell an interesting story about where people are buying, and where they are not.

Most of the action, and the big bargains, were in areas where bank repossessions have become a fact of life. Almost half of all existing homes sold were foreclosures. Their bargain-basement prices sent the median price tumbling 45 percent during the past year to $375,000. This is all according to research firm MDA DataQuick of San Diego.

During the boom years, prices in lower-cost areas appreciated as subprime buyers rushed in. With the bay area in a buying frenzy it's time for you to secure a cost effective location that will outlast these economic hard times. The Brentwood Business Center specializes in finding you great deals in this crazy real estate market. Our knowledgeable staff is a phone call away.

The housing rescue legislation that was signed into law recently is called the Hope for Homeowners Act of 2008. Sound hopeful? Maybe! Oversimplified, the act offers government guarantees to lenders who are willing to work with you to keep you out of foreclosure. But, you have to be "qualified" for the program.

The HOPE for Homeowners program will refinance mortgages for borrowers who are having difficulty making their payments, but can afford a new loan insured by HUD's Federal Housing Administration (FHA). The program begins October 1, 2008 and ends September 30, 2011.

Here are some key points about the program and its qualifications:
* The program goes into effect October 1, 2008. Until then, look for other options.
* Your lender has to be willing to write down your loan to 90% of your home's value. In other words, your existing mortgage lender has to be willing to reduce the balance of the mortgage so that there's a 10% equity cushion in the property.
* Your existing mortgage must have originated before January 1, 2008.
* The program is available for your primary residence only.
* You must be devoting more than 31% of your income to your mortgage payments.
* Income must be verified to qualify for the new loan, and you have to be able to afford the payments on the new loan.
* If you sell your home in the five years following this refinancing, you have to share the profit with the government.  The government's share is calculated on a sliding scale for the first five years; after that, you'll split the profit 50/50.

Every report I've read about this legislation says that the bill will save 400,000 homes from foreclosure. It is estimated that the funding limits for those federal loan guarantees will make it possible to help that many families. Lenders take the write down, but avoid the expense and risk of foreclosure, and benefit from rebounding property values if foreclosures slow and excess housing inventory is eliminated. And, if they don't take advantage of this program, there is a good chance that an irate Congress will increase regulation of the mortgage industry.

It remains to be seen whether the Hope for Homeowners Act of 2008 offers real hope, or becomes another infamous bail out that helps only the wealthy. It appears to me that the program will offer the most benefit to those who are struggling, but are current enough on their payments to look like a good risk. If you're looking for more articles about HOPE act you can read the press release here.

http://www.hud.gov/news/release.cfm?content=pr08-150.cfm

If you haven't been following the news, Fannie Mae just made a huge announcement regarding its' policies and regulations regarding bankruptcies, foreclosures, conversion of principle residences to investment property or second homes, and representation and warranty requirements.

The most significant policy change is the incorporation of a "short sale" policy. Fannie Mae calls this a "pre-foreclosure sale". The difference between this and a normal sale, is the fact that the entire amount of the loan is not satisfied in the "short sale" process. In the past, Fannie Mae had not differentiated between short sales and foreclosures for consideration for future loans. The rule for both situations was that no loans would be accepted for people that had a foreclosure or short sale in the previous five years.

The new Fannie Mae policy states that foreclosures must be seasoned for five years. In addition, short sales must be seasoned for two years. FM is making a significant statement by acknowledging the short sale. In essence, they are encouraging home-owners to work with banks, and to entice them not to "walk away" from their mortgage troubles.

Fannie Mae also released updated underwriting guidelines for new mortgage loans that directly address individuals with various types of foreclosure history. Potential borrowers with a foreclosure on their credit record must wait 5 years to be considered for new funding, and are subject to additional credit and down payment requirements for 5 to 7 years. Deed-in-lieu-of-foreclosures warrant a 4 year wait with additional requirements for 4 to 7 years. Finally, short sales require only a two year wait with no additional requirements. These new guidelines make short sales a more attractive option for homeowners as well as provide realtors with a tremendous opportunity to assist distressed homeowners with a short sale and future home ownership. This information can be very valuable when meeting with short sale prospects.

Download the latest Fannie Mae guidelines here.
https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2008/0816.pdf