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Bobbie Lemberg Interview
Published below is an exclusive interview with Bobbie Lemberg, Bay Area real estate broker and Sunnyvale resident. Ms. Lemberg talks about her business, the secrets of being a successful real estate broker and provides realty trends and tips for home buyers and real estate investors.
Background: Bobbie Lemberg came to Sunnyvale from Massachusetts in 1967. Her three sons attended local schools. Two of them still live in the Bay Area with their families. She runs a website (http://www.bobbielemberg.com/) and a blog (http://bobbielemberg.blogspot.com/).
She has been a licensed real estate broker since 1974 and is an Associate Broker for Coldwell Banker Real Estate LLC and has been Director of the California Association of Realtors for 5 years. Ms. Lemberg was awarded the 'Distinguished Citizen of the Year' award by the City of Sunnyvale in 1990 for her involvement in Sunnyvale Community Services and is a Leadership Sunnyvale alumna. We decided to publish her interview because we believe being a good real estate broker requires extensive contacts locally and a solid reputation as an outstanding citizen. Ms. Lemberg has both and is an ideal public face for Bay Area realtors.
Published below are Ms. Lemberg's thoughts on Sunnyvale properties and the real estate business.
Question: How did you get into the real estate business? Your business seems to be quite successful at present. Any secrets or tips for budding brokers?
Lemberg: After my sons were all in school, I started to do tax work, but when April 15 was past, I began to get restless, and my husband suggested that I might be good at selling homes. I took a series of real estate and business courses at De Anza College, and the rest is history. I’ve been an active Realtor since the early ‘70’s. As for tips: This is a full time career that takes hard work and dedication, but it especially involves working with all types of people. Being good with the computer isn’t enough. You have to realize that this house is not only the largest investment most people will make, but it is a home for them and for their families. I work with many seniors (I have the Seniors Real Estate Specialist designation), and they need a lot of personal attention when they sell a house that they have lived in for many years.
Question: Related question - Has there been any drop-off in home sales and purchases in the last few months, on account of the subprime mortgage crisis? You say on your website that 'You can anticipate trends and pitfalls'. So what's your prediction for 2008? Are we going to see home prices dropping and a bigger real estate slide, or are prices going to stabilize?
Lemberg: I have written about this situation several times in my daily blog: http;//www.bobbielemberg.blogspot.com. According to The Wall Street Journal, 80% of subprime loans are being repaid on time, and another 10% are only 30 days delinquent. In our area, we have what I call an “oasis†of a strong market, including Sunnyvale and Cupertino, where we are still seeing multiple offers and good appreciation. The Central Valley, the Sacramento area, and most of San Jose and communities south of there, like Hollister and Gilroy, will take some time to turn around. They have many months of inventory, and I don’t envision a stable market there until at least the end of next year.
Question: Do you have any comment on the ethics, or lack thereof, in the real estate industry? I mean, the operating keyword is 'tough'. Nice doesn't seem to make the cut. Is it possible for a realty firm to be both tough and nice?
Lemberg: We career Realtors ascribe to a code of ethics from the National Association of Realtors. Unfortunately, there are a few “bad apples†in any profession, and hopefully they don’t give all of us a bad name. My manager at Coldwell Banker DeAnza in Cupertino, Nina Yamaguchi, is a perfect example of that tough/nice combination that you mention. She encourages in-office cooperation, and a work ethic that has given us an excellent reputation with other Realtors and with our clients.
Question: A little about real estate investments, specially as relates to Sunnyvale. Buying a home, and buying property as an investment, probably involve different calculations. Could you specify what advantages properties in and around Sunnyvale offer to the real estate investor, and your recommendations of specific properties, if any.
Lemberg: Historically, Bay Area real estate has been a good investment. I would advise a buyer of both a residence and an investment property to choose a trustworthy lender, and not to get into an untenable loan situation. The “best buys†for an income property are in some of the well-cared- for areas of San Jose, where there is heavy inventory right now. In looking for a residence, be especially aware of schools and neighborhoods and realize that a quick turnaround may not be possible. Plan to remain in the home for at least 2-5 years…otherwise it may make more sense to rent.
Question: Any other interests, or passions?
Lemberg: I am active in the Sunnyvale Chamber of Commerce, and recommend this type of involvement to new agents, also. It is a great way to meet new people and to network. I love to dance, and belong to a group called Sunnyvale Singles Squares that meets at Murphy Park in Sunnyvale and square dances. This is wonderful exercise, and a chance to use your mind, too…my closet is overflowing with petticoats. They start a new class in early January.
That was Bobbie lemberg, real estate broker and owner of the website (http://www.bobbielemberg.com/) and a blog (http://bobbielemberg.blogspot.com/).
Comments (1)
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written by a guest, November 18, 2007
A lot of good solid advice here for those interesting in buying either a rental house or a personal residece.
