Private Mortgage Advisors, an affiliate of Wells Fargo Home Mortgage and Alain Pinel Realtors has a temporary rate buydown option that can lower home buyer’s initial mortgage payments. That means turning lookers into home buyers.

This eases them into their mortgage. With the buydown program, qualified borrowers purchase a temporary rate discount as much as 3% below the established note rate. This discount can be offered by the home seller up to maximum allowable contributions.

Homebuyers like the temporary buydown option because it may give them an opportunity to purchase a Saratoga home right now—and the time to ease into their full payment schedule during the first few years of ownership.  Homebuyers also like knowing that while their initial payments are lower, they are still reducing their mortgage balance because they’re paying both principal and interest each month.

Buydowns work with a variety of mortgage products, including FHA, VA, and other conventional loans offered by Wells Fargo Home Mortgage.

Including this option in your Realtor’s listings, internet presence and other real estate marketing will give a home seller one more way to differentiate themself in today’s competitive market. Since most Saratoga homes start over $1 million and most mortgages are non-conforming jumbo loans, financing is very important in making the sale.

Yesterday I attended REBarCampSiliconValley in San Jose, CA at the AXIS high-rise.  There were about 150 real estate bloggers  (like myself) who also use social media to connect with other Realtors to “stay ahead of the curve” and in the process provide better service to their clients.

While there were some outside professional consultants to the industry, almost everyone was quite knowledgeable and they contributed to the discussion rather than just sat back to be passive sponges taking in everything new.  It was what I call “open source” real estate.  We all learned from each other sharing our knowledge and experience openly without fear of having our secrets stolen by a competitor.  And as a result, we all benefited.  It was a free event and although there were generous sponsors who underwrote the event, few were blatantly pitching their services or product.

Today is Tech Tuesday at California Association of Realtors convention in San Jose, CA which will probably have a more traditional formal format of speakers and audience.  The convention floor will have vendors pitching their wares and a very different feel.

With the rise of the Internet, Realtors are no longer the guardians of private information about listings, but they are even more important to a transaction because of their knowledge and experience in contract matters, negotiating tactics, market trends, true market valuation, marketing, networking and customer service.  In the same way that today consumers are more proactive in their own health management, we still need doctors, lawyers, accountants and other professionals for their skills, detailed knowledge and experience.

Part of how I try to practice real estate  is to give a little more than is expected in this open source world. In Louisiana they call it “Lagniappe” (lan-yap) – It’s the unexpected treat at a nice restaurant; the extra roll in a bakers dozen; the free samples at Costco; even the penny jar at the local retailer.  This “open source real estate” in Saratoga, I call it the “Art and Heart of Real Estate.”

I am inspired by the saying of Jesus “Give and it will be given to you. A good measure, pressed down, shaken together and running over, will be poured into your lap. For with the measure you use, it will be measured to you.” Luke 6:38