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Mar 31

Trumark Homes Hires Veteran Developer as Vice President of Land Acquisition

James Furey, Former Manager with Three of Country’s Largest National Homebuilders, Brings Experience in Many Elements of Homebuilding

NEWPORT BEACH, Calif. – March 31, 2014 — Trumark Homes announced that it has hired James Furey, a veteran developer who has held management positions at three of the nation’s largest national homebuilders, as vice president of land acquisition.

James Furey Photo“James is a versatile manager who brings a wealth of experience in many elements of the homebuilding process,” said Jason Kliewer, partner and general counsel for Trumark Homes. “He will be an invaluable asset as Trumark moves aggressively in the California market.”

During his tenure with Meritage Homes, Richmond American Homes and Beazer Homes USA, Furey has overseen land acquisition and disposition, entitlement processing, land development and forward planning. Over the past decade, he has secured discretionary entitlements for more than 1,000 residential units and participated in the acquisition and disposition of more than 3,500 future residential units representing a residual land value in excess of $250 million.

In Northern California, the Trumark name is most often associated with community design, entitlements and office, R&D and retail development, which the company has focused on since its inception in 1988. Trumark Homes, the company’s single-family homebuilding division launched five years ago, has completed two communities in Southern California and has four under way in the Bay Area.

Furey received his master’s degree in real estate development from the University of Southern California and his bachelor’s degree in business administration from California State University at Hayward.

 

About The Trumark Group of Companies

The Trumark Group of Companies is a diversified real estate developer and builder with expertise in land acquisition, homebuilding, community design, entitlements and office, R&D and retail development. Trumark has raised more than $340 million of equity and funded 24 deals since the depth of the recession in 2009.www.trumark-co.com/companies

Trumark Homes is a new generation homebuilder that is nimble, focused and unburdened by broken projects of the past. Its pipeline exceeds 3,800 lots in core in-fill areas of California, representing more than $2.3 billion in future revenue. www.trumarkhomes.com

Trumark Urban develops condos in core urban neighborhoods close to jobs, transit and local businesses. Since making the strategic decision to focus on San Francisco in 2011, the new division has acquired seven sites in San Francisco for high-density condominium communities with plans in the works for more than 600 units with total projected revenue in excess of $700 million.www.trumarkurban.com 

Trumark Commercial, which builds, leases and sells commercial buildings, has entitled or developed approximately two million square feet of office, R&D, retail and hotel properties in the northern portion of the Golden State. www.trumarkco.com/commercial

Mar 31

3 Stress-Relieving Tips for First Time Homebuyers

Settling into a new home can be exhausting. In fact, buying a house and moving are both stressors according to mental health experts. Luckily this is a good kind of stress and If you’ve chosen one of our Milpitas, San Jose or Silver Lake properties then you’re in luck because these neighborhoods make it easy to nurture yourself while getting settled. Here are a few tips for first time home buyers to relieve stress and settle into a new home with grace:

1. Plant a Garden

Living a sustainable lifestyle is important to a lot of people and growing a veggie garden is one simple step toward sustainability. Getting down and dirty can relieve stress and provide a sense of pride and accomplishment. Plus it’s yummy. You can choose to start with easy-to-grow veggies, like zucchini, onions or potatoes. Or you can take a different approach and grow expensive-to-buy veggies like asparagus, artichokes and exotic salad greens. Herbs are also great for first-time gardeners. A healthy body tends to handle stress better.

2. Take a walk.

In many of these established neighborhoods you’ll find your neighbors outside in the evening after work enjoying the fading sunshine or simply walking the dog. Getting to know your neighbors has social benefits and taking a walk is great exercise. Since we build in mainly walkable neighborhoods you can often run errands, do shopping and even visit local pubs and restaurants all without starting your car. This relieves stress, cuts down on pollution and helps firm up those calves.

3. Maximize Your Decorating Budget

A year after moving into your home you shouldn’t still be staring at blank walls. Mark your territory; claim your space; make it your own.  Schedule time every week for “nesting” and surround yourself with the colors, textures and furnishings that bring you joy, serenity, tranquility, vibrancy or whatever beats your stress.  Consignment stores, online auctions and thrift shops can be great places to start. Regularly set aside funds to save for more expensive items and try your hand at refinishing pieces that aren’t quite to your liking.

Getting settled into your first new home is a once-in-a-lifetime activity and that first year will be unforgettable. Sure there will be stressful moments, but your home is a place to relieve that stress, let it do its job. Contact us to learn more about the homes we offer in Milpitas, Silver Lake and San Jose, CA.

Mar 17

First Time Homebuyer? Don’t Forget These Expenses.

With all the emphasis being placed on the down payment and mortgages, you’d think those were the only expenses associated with buying a home. However, if you’ve always lived in apartments and are a first-time homebuyer, you may be surprised at the additional number of regular payments you need to make when you make your purchase. The following are just a few:
  • Private Mortgage Insurance. Despite the fact that you’re paying for it, the PMI protects the lender and not you. It compensates your mortgage company if you happen to default on the loan. The good news is once you’ve paid for about 80 percent of the principal, you no longer owe PMI.
  • Homeowner’s Association Dues. Often abbreviated to HOA, this monthly payment takes care of all the outside maintenance in new or condominium developments. It covers landscaping as well as the repairs and cleaning of common-area facilities like the swimming pool, sidewalks, or gym.
  • Homeowners Insurance. This compensates you if the interior of your structure is damaged, if your possessions are stolen, or you are sued for liability issues. While this is not required by state law, mortgage companies will not finance your purchase unless you buy insurance to a minimum amount.
  • Utilities. Some or all of your electricity, gas, water, Internet, and trash services may have been covered by your rental payment. With your own home, you have to apply for service separately from each company as well as pay a separate monthly bill. Many utilities require a monetary deposit if you have never subscribed to them before.
You need to take all these amounts into consideration to determine if you can afford a home. If you discover that you can and want to buy a property, please contact us.
Mar 10

Tips for Moving into New Housing: From Going Slow to Getting Insurance

Moving into new housing is a complicated process, and the one mistake that people make routinely is underestimating how many things they have.  You think that all your books or papers are going to fit in ten boxes, but it turns out that twenty are required.  The same goes for your clothes, toiletries, linen etc.  In general, people just fail to take into account how many things they have besides their clothes and how many boxes are going to be needed to fit those things.  Here are a few tips to keep in mind while moving:

  • Start packing a few weeks in advance.  The first time around, you’ll probably get as many boxes as you think you need, but once you finish using these up, you’ll have a better idea of how many more are needed.
  • Move things out slowly, if possible.  Plan to pack and move things within a month.  That way, you’ll be able to move a little bit every week, if you plan to do it yourself.  Of course, this method of moving doesn’t work if you’re going to be moving across the country.  But if you’re just acquiring a bigger, nicer home that’s an hour or two away, you can always make a couple of trips and bring the furniture over in the last one.
  • Enlist friends.  Doing this in the final phase of moving is a good idea.  You can prepare snacks or order pizza so that you all have a good time at the same time as you get work done.  It can be like an informal housewarming party on the very day you move in.
  • Get movers.  You know how much stuff you have and how many friends you can enlist for helping you move.  So if you think that it’s a better idea to get professional movers, then, by all means, go for it.  Most moving companies charge by the hour.  So make sure you overestimate how much time the process will take rather than underestimating it.  Making sure that the movers have some form of insurance in case they break something valuable is also a good idea.
  • Be practical, but have fun.  After all, you’re going towards something bigger and better which will make you and your family happier in the long run.  So don’t get so bogged down in the details that you lose sight of the bigger picture.

Contact us for home listings, and we’ll help you find the home of your dreams.

Mar 03

Types of Mortgages for Financing Your First Home

Unless you’re paying the full price in cash, your going to need a mortgage for financing your first home. There are two main types to consider.

·         Fixed-rate. This more traditional mortgage gives you a fixed interest rate for the life of the loan, which is typically 30 years. It is slightly harder to qualify for this type because of the higher interest rate. However, you can budget your expenses more predictably because the monthly payment does not change. Fixed-rate mortgages are also available in 15-year terms, which increase the monthly payment but reduces your overall cost.

·         Adjustable-rate. Because adjustable-rate mortgages (ARM) have a lower interest rate, they’re easier to qualify for. However, that teaser rate is only fixed for a specified number of years. After that, rates rise to match prevailing market conditions. For example, a 5/1 ARM is only fixed for the first five years and varies once a year after that. The unpredictable changes can be harder on the budget. However, this might be an excellent option if you intend on moving before the initial term is up.

Lenders decide on the terms to give you based on your down payment, incomes, and credit report, which describes your financial obligations and your payment habits. You can get a copy of your report at AnnualCreditReport.com. You’re entitled to one free report every year from each of the chief credit agencies: Experian, Equifax, and TransUnion. Examine the document for any errors and report any issues immediately to the reporting agency. By law, it must correct any problem, although it may take several weeks for them to do so.

If you want to know more about financing your first home, or want to buy a new one, please contact us.