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Jean Manner Schwimmer is one of the most knowledgeable real estate professionals in the area.
She is an experienced communicator so respected by other REALTORS® that she currently heads up the Task Force for Education for the Monterey Association of REALTORS® and is the chairperson for Professional Standards for the Monterey County Association of REALTORS®.
As former President of the Monterey County Association of REALTORS®, Jean is recognized by her peers, clients and the media as a real estate expert in market fluctuations, industry standards, education, technical details and contracts. Jean is the person other agents and the media call when they have a question. Known for her ability to communicate complex information in a straightforward, easy to understand manner, Jean is at the pinnacle of her career and enjoys the opportunity to keep consumers informed. (...Read more About Jean Manner Schwimmer>)
Following are excerpts from newspaper articles quoting Jean:
 Borrowers Beware
The Salinas Californian, Wednesday, February 1, 2006
When it comes to securing a home loan, the adage, "If it sounds too good to be true then it probably is" has some validity, housing experts said Saturday in Salinas.
Many Monterey County residents are lead to believe they can afford homes that they really can´t said consumer advocates and real estate professionals, who spoke at a "town hall meeting" organized by the Monterey County Housing Alliance.
These residents often fall victim to what are called "predatory lending practices," loan arrangements that are misleadingly presented to starry-eyed homebuyers, and far too expensive for them to afford.
"I hear stories like this once a week in the Salinas area," said Jean Manner Schwimmer, a REALTOR® with Coldwell Banker/Gay Dales.
The Housing Alliance and its members plan to establish a predatory lending monitoring program.
Tips on Home Loans
Before buying or refinancing a home, you can do the following to avoid being a victim of predatory lending:
• Consult with a housing counseling agency, such as the Monterey County Housing Alliance which provides its services for free
• Learn what your credit score
• Learn what kind of loan price and terms you should qualify for
• Decide what kind of loan is best for you
• Get a copy of all loan documents and have a housing counselor explain them
Source: Housing and Economic Rights
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Will 2006 be bright for homebuyers?
The Salinas Californian, Monday, January 2, 2006
Monterey County housing market has cooled in recent months, and prospects look better for price sensitive homebuyers in 2006.
"It will be easier to buy a home because there is more to choose from and buyers will have more negotiating power because there are more homes on the market," said Jean Manner-Schwimmer, a REALTOR® with Coldwell Banker/Gay Dales in Salinas. "I think we will still see some appreciation but it will be slower than usual."
In November, the median single-family home prices in the Salinas area included $530,000 in east Salinas, $545,000 in south Monterey County, $597,000 in north Salinas and $599,900 in South Salinas.
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Experts Predict a Price Slowdown, Not a Crash
The Salinas Californian, Saturday, July 1, 2005
Still "buying like crazy"
Jean Manner-Schwimmer, a REALTOR® with Coldwell Banker Gay Dales in Salinas and former president of the Monterey County Association of REALTORS®, said a market slowdown in the country is more likely than a sudden drop in prices.
"Right now, people are buying like crazy," Manner-Schwimmer said. "2005 hasn´t slowed down yet, and it´s outdoing 2004."
Forecasters can talk all they want about a bubble, she said, but the future of the real estate market is a relative unknown.
"Nobody has a crystal ball. No one can predict what will happen," she said.
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Housing Market to Slow
The Salinas Californian 2005
As of November, the median - midpoint - sales price of single-family homes was $598,000 countywide and $538,000 in north Salinas.
"The market was even hotter this year than last year," said Jean Manner Schwimmer, former president of the Monterey County Association of REALTORS® and a REALTOR® for Coldwell Banker/Gay Dales in Salinas. "Families with moderate incomes continue to be priced out," she said.
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Housing/City Family Buys Into Home With a Relative
The Salinas Californian January, 2005
Finding financing a challenge
Jean Manner Schwimmer, a REALTOR® with Coldwell Banker Gay Dales in Salinas and former president of the Monterey County Association of REALTORS®, said she´s seen an increase in popularity in last-resort lending programs, such as 100 percent financing, for homebuyers who simply don´t have the cash to put down on a home. She said about 9 out of 10 first-time home-buyers put no money down because they haven´t saved up.
Another option is interest-only mortgages in which buyers pay only interest for up to 15 years of the loan. These accounted for 63 percent of mortgages taken out to buy homes last year locally, according to Loan Performance, which tracks mortgages nationwide.
"We have problems here in Salinas," Schwimmer said. "For many people, it has become difficult for people to find a mortgage on a home that they can afford."
Schwimmer said first-time buyers need more preparation in looking at their options and recommends they contact the Monterey County Housing Alliance, which offers seminars on how to approach home buying.
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Prices Only Rise
The Salinas Californian, Saturday, February 7, 2004
Real estate agents talk about seven year cycles in the housing market. They also expect to see home sales slow down after the winter holidays for a couple of months.
But in Salinas -- where home prices have been climbing dramatically for a decade -- those truisms are as faded as the day when you could buy a home here for $175,000.
"The amazing thing right now is that since the first of the year, it´s been crazy," said Salinas REALTOR® Jean Manner Schwimmer. "Normally it takes a little while (after the New Year) to pick up."
Homes for sale are drawing multiple offers, sometimes higher than the listed price. Interest rates are low, demand is high and "the volume of business is surprising," she said.
Schwimmer, president of the Monterey County Association of REALTORS®, has been selling homes in Salinas since 1989. She can´t remember when prices weren´t headed one way -- up.
"Normal cycles are about seven years, but this one has been running and running," Schwimmer said.
Last week, a state real estate survey said a median-priced home in Salinas in December -- based on the most recent data available -- was $369,500, up 12 percent from December, 2002.
But Schwimmer said a home under $400,000 is becoming a rare find. What about below $300,000? "You´re talking about a condominium," she said.
When Schwimmer began selling local real estate, a typical three-bedroom, two-bathroom home in south Salinas would go for about $165,000. "Now most homes in the city are in the $400,000 to $600,000 range," she said.
Resilient market
As in most California coastal counties, home prices have been soaring in Monterey County for quite a while. "Salinas usually doesn´t drop, it just flattens," Schwimmer said.
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