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Relocation Buyers: Have a Baby, Make New Friends!
2008-05-02 21:10:00
What better way to feel at home when you buy a new home than to have a baby? That's what I've discovered anyway. Since we moved to Pollock Pines last summer, I've been longing to find a community and new friends where we live. And just lately, it's been a lot easier. Reason? I'm pregnant and beginning to show. And now I have friends everywhere. People have come out of nowhere to help and be nice. Yes, having a baby changes everything. But just in case procreating isn't what you want to do to ensure you have more friends, check out these other options:Talk to More People - Visit your local grocery store and talk to anyone who will listen. If you're in business for your self, this behavior is called networking. But you can always use it if you're new. People are extremely willing to show you around or help you with locating a store or services - if you only ask. Let them know you're new. Then watch them offer to help.Throw a Meet and Greet Party for Neighbors - This one is fu...
More About: Baby , Friends , Make , Buyers , Relocation

How Hard is it to Sell... Really?
2008-05-02 02:18:00
I've always maintained with my real estate clients that they should be more interested in buying a property than me in selling it to them. If at any moment I notice that I am doing anything more than facilitating a transaction, I wonder about their motivation, and eventually, their passion for actually getting the home they claim to want.Why the question? Because I went to get my snow tires replaced with regular summer tires today and I got a lesson in sales. Amazing the places you learn things!So here's what happened - I went over to Walmart Tire Service thinking I'd get it done cheaper than Big O. After waiting for about ten minutes while the staff bickered amongst themselves (well, you get what you pay for, so I thought, oh well...) a lady comes out from behind the counter to ask how she can help. "I'd like to get my snow tires replaced with my summer tires." After that, she proceeds to take down my phone number and name and then says, "I need to see what tires you have."When...
More About: By the Way , Hard , Sell

How Hard is it to Sell... Really?
2008-05-02 02:18:00
I've always maintained with my real estate clients that they should be more interested in buying a property than me in selling it to them. If at any moment I notice that I am doing anything more than facilitating a transaction, I wonder about their motivation, and eventually, their passion for actually getting the home they claim to want.Why the question? Because I went to get my snow tires replaced with regular summer tires today and I got a lesson in sales. Amazing the places you learn things!So here's what happened - I went over to Walmart Tire Service thinking I'd get it done cheaper than Big O. After waiting for about ten minutes while the staff bickered amongst themselves (well, you get what you pay for, so I thought, oh well...) a lady comes out from behind the counter to ask how she can help. "I'd like to get my snow tires replaced with my summer tires." After that, she proceeds to take down my phone number and name and then says, "I need to see what tires you have."When...
More About: By the Way , Hard , Sell

Finally...
2008-04-29 19:17:00
... a post on Sacramento-home after my own heart. Go here to read what John Lockwood has to say after months of optimism about real estate thrown at him! Good job, John - and thanks for the support!
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Rental Available!
2008-04-25 18:14:00
It's that time of year again... another fantastic rental available! Rent is $1050 per month - and with good credit, you could get the first month free!Get the details here.
More About: Rental , Rentals

Decorating a Baby Room: Dos and Donts
2008-04-23 15:23:00
Now that my husband and I are having our first baby, we're dealing with the issue of how to decorate the baby's room. There's also the baby shower and baby furniture and in the midst of all this - it seems like - is also the overall plan of remodeling the rest of the house. Whew! So here are a few pointers on what you should and shouldn't do to decorate the baby's room:1. Keep in mind the overall plan at all times - It's easy to get carried away with the decorating, especially if - like us - you know the baby's gender. I have seen some houses on the market recently as REOs where the parents obviously got a little carried away with the paint. The room stuck out as a sore thumb. So if you have plans of moving soon, choose a paint that complements the color scheme of the rest of the house. Once the baby gets in there, it's very hard to paint again.2. If you do decide to put in light fixtures, store the originals in a safe place - I'm sure babies love the carnival fan. You know...
More About: Baby , Room

Investors are here!
2008-04-21 19:35:00
Something happened to the Sacramento real estate market over the last few days and I'm wondering if anyone has noticed. I've been working pretty closely with one real estate investor lately and he was interested in making a bunch of offers on properties that haven't moved for longer than 60 - 90 days. So off I went on to the MLS... only to notice that many of those properties were in escrow!Now, you have to ask - after 60, 90, even 100+ days on market, why the sudden activity, almost overnight?I personally believe if you haven't bought a house yet, you've missed the bottom of the market. But we're still pretty close to the bottom, so don't be disheartened. Just know that the real real estate investors are here. About time!
More About: Investors

Adding Value to your Home Regardless of the Sacramento Housing Market - Tip
2008-04-18 17:29:00
Yes, another one in my favorite series of posts regarding remodeling small things to make your house have more value! And since you know they all relate to my personal designing predicaments, the latest one is a common one here in Pollock Pines: not enough light in the house. It's beautiful out on the back deck, but with all the trees around us, the sunshine never really gets to make it inside the living room. As a result, my orchids haven't flowered and the houseplants need to be set outdoors a few hours each weekend to ensure they don't die. What's the answer? This one my electrician husband came up with: metal halides. High intensity metal halides will make plants grow. What's more they'll probably put us in a better mood in the winter months because they are a full spectrum light. But, putting them in can be a bit of a challenge since they won't work in a regular light fixture. To ensure even lighting, we're considering putting them in recessed light fixtures as well. T...
More About: Market , Home , Housing , Sacramento

REO Single Family Residences
2008-04-16 19:24:00
For those of you first-time home buyers still on the fence about buying a house, you might want to look at the foreclosures here in Sacramento. Either do the search yourself or follow this link to the foreclosure listings page. I've been showing a lot of these bank-owned properties to prospective investors and - mark my words - these are going to become future rentals. A recent poll in the Sacramento Bee said that about 50% (or more - I don't have to exact numbers) of potential home buyers are staying away from buying right now, because they are afraid of falling home prices over the next two years. If you're only going to live in the house for two years, I can see being a little concerned. But if this is a house you intend living in for anything more than seven years, I think that thought is foolish, baseless fear. Do the math and see for yourself - also consider that Sacramento area real estate appreciates at about 6% per year on an average, in spite of the dips.
More About: Family , Single , Residences

Spring Brings Cautious Enthusiasm
2008-04-14 18:56:00
Thank goodness the weather has warmed up! Although Sacramento and Folsom have been beautiful for a few weeks now, uphill Pollock Pines got its first seventy degree plus weekend this last Saturday and Sunday. Flowers are finally beginning to bloom - and with them come the real estate signs. REOs are a rarity here in Pollock Pines and Placerville - and when they come on the market they sell pretty quickly. In Sacramento though, the opportunity for investors is endless. There seem to be certain areas where REOs sit for a long time before someone buys them. One of these which I've been focusing on with one of my investor buyers is the Fruitridge area. 2 - 3 bedroom houses are selling there for right around $100,000 - an incredible rental if you can make it work. Rents range from around $900 - $1100, so potential for cash flow seems pretty good. The only problem with this area is the homes are older and some are in need of repair. Getting them updated (usually they don't have central a...
More About: Spring , Enthusiasm

Realtor not to Blame: Jury
2008-04-11 18:32:00
For those of you following the Ummel vs. Little case that some blogger had so kindly deposited into the comments section of my blog, the verdict is in. The Realtor is not to blame. The jury's decision was unanimous. Read all about it here.I will say however that even though a buyer's agent is not technically required to disclose the appraisal report to you, the buyer, I always get a copy of it and send it over anyway.
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Sacramento Condos for March: the Numbers
2008-04-08 23:02:00
Condos seem to be getting a bad rap lately. I don't know if it's just me, but I see investors - who were very interested in condos for a while - seem to back away from them. I guess given the choice between having a backyard you can call your very own and paying condo fees, people choose the former.Anyway, let's get right to the numbers. The median price for condos didn't fare as well as the median price for single family residences. It dropped 24.6% from February to stop at $138,500.Sales were up however. Sacramento county saw 90 condos sell in March , an increase of 52.5% over February. Pending sales were higher as well - 130 over last month's 116.202 condos came on the market as new listings in March, bringing inventory down to 7.8 months, an improvement over last month's 11.9Also read: February's numbers; January's numbers.
More About: Real Estate Market , Numbers

How Optimistic am I about Real Estate?
2008-04-05 19:04:00
As optimistic as ever. And perhaps will be more so when this market recovers, because then I will have been there, done it (or seen it).I was talking to a potential real estate investor yesterday. One thing that always strikes me about people that have been investing in real estate for a while (a while = more than a decade) is that they seem very calm about what's going on in the market. They see prices falling and REOs and they realize it is only part of a cycle. What's more, they all insist it has been much, much worse.I yearn to have that knowledge first-hand. I am as invested in this market as ever. True, when we bought our rentals, we probably did not time the purchase perfectly. But we haven't panicked and sold them either. There is a method to this madness and it is this: TIME. What is debt today is equity tomorrow. And the houses are rented, so why sell anyway? What difference does short term fluctuation make except to my net worth and that too for a short while?Real esta...
More About: Estate , Real Estate , By the Way

Market Statistics for Single Family Residences for March
2008-04-04 19:48:00
Good news, everyone. We have bounced off the bottom, even if it be ever so slightly. Here are the details on Sacramento county's real estate market recovery in March , 2008.Median price remains steady (or almost steady) at $254,000. It has hovered around $255,000 since January.2332 new listings were added to the market and 1006 sold. Existing inventory now stands at 8632, smaller again than January or February's. We now have 8.5 months of inventory on the market, a change of 15.84% over February and of 28.6% over January!More good news - 2021 homes went in escrow in the month of March, a whopping 37% higher than pending sales in February, which were already higher than January, which were higher than... well, you get the idea. So... median prices have steadied, inventory is down and sales are up! The Sacramento real estate market recovery has begun. Also read: January's numbers; February's numbers and come back tomorrow for updates on the Sacramento condo market.
More About: Family , Real Estate Market , Market , Statistics

REOs, Asset Managers, Multiple Offers... Grrr!
2008-04-03 18:34:00
I've written in the past about one of my clients who has been making offers on homes in the Anatolia area of Rancho Cordova and getting outbid every time. Well, yesterday was what seemed to be a historic day for both of us - one of her offers was accepted.Mind you, she's been looking since January of this year.Back to the story. After getting outbid each time, on new homes and waiting forever on a short sale, today was the last straw. I received a call from an apologetic listing agent saying that no, our offer has been rejected after all. Apparently, the asset manager in the bank changed and someone else took over the files and they decided to go with another offer. This AFTER my client has sent over good faith deposit cashier's check, and I had made an appointment for a property inspection! In a span of 24 hours, I lost a great, motivated home buyer. Thanks, asset managers!
More About: Offers , Managers , Asset

A Sick Realtor is Better than None?
2008-04-01 18:58:00
No, it isn't a case of the market blues - I have really fallen ill this week. Woke up on Monday after a hectic weekend and a hectic last week of showing homes in Elk Grove and Rancho Cordova and I seem to have caught my husband's cold. It the kind that drains you of energy and won't let you stand upright for longer than ten minutes... you know the kind.So bear with me while I recover. And in the meanwhile, if you're searching for some great investments, you might want to search online for Elk Grove. I noticed some fantastic homes there - 3 bedrooms, 2 baths for right around $200,000 - some of them right in Laguna West!
More About: By the Way , Realtor , Sick

Sacramento MLS Updates
2008-03-27 16:42:00
Finally. Someone heard my prayer. The Sacramento MLS - Metrolist - has made some interesting updates that should help us Realtors when we are searching for just the right properties for our home buyers.They have added cumulative days on market - huge help, thank you! And also active short sales. This way, when a real estate buyer says leave out short sales completely, we don't have to weed them out individually. Excellent changes! And so much more helpful than the maps they keep bragging about!
More About: Updates

Should Banks Just Foreclose?
2008-03-26 18:09:00
I've been speaking with a great many frustrated real estate buyers in the greater Sacramento area lately and the one thing I hear repeated over and over is that they have been looking for houses for a while and not been able to buy any. But it's a buyer's market, you say.And I agree. However, there are certain areas where short sales are the majority of homes for sale. Which home buyers hate. Picture this: drive down a street and see every other house for sale. Asking price is about half of what the sellers paid for it about three years ago as a new construction. The homes look great, and there hasn't been much time for even normal wear and tear. The home buyers are thrilled. They call the number on the real estate sign. Three months later, they're still driving by the house they've made a full price offer on, wondering what in the world happened.What's happened is that the lender who needed to approve the short sale has not responded. At all. Not even to say that they have ...
More About: Banks

Sacramento Market Heating Up!
2008-03-25 00:27:00
I know, I've been going on about this lately, but I just want everyone to know. I've been manning the calls at Elite Properties lately and we're getting a lot of them. These are - by the way - interested real estate buyers, first-timers, investors, you name it - and not the tire-kickers we've been used to seeing in the last few months. (With apologies to all the serious buyers, I don't mean you. Obviously.)Anecdotally, I went out to write an offer for a client I've been working with forever now. She's been looking in the Anatolia area of Rancho Cordova and was stuck on the waiting side of a short sale for a while now. Well, when that period finally ended, she decided to go after REOs and new homes. This is what has happened so far: REOs: multiple offersNew Homes: multiple offersSo anyway, to get back to the story, I went out to Anatolia to write an offer. Since it's a new builder, I had to do it at the sales office. Can you believe the house had three offers and it sold (wit...
More About: Real Estate Market , Market , Sacramento , Heating

Sacramento Real Estate Gal Is One Year Old!
2008-03-22 15:11:00
The blog not the person (of course!) Yay!
More About: Estate , Real Estate , By the Way , Real , Sacramento

Landlords - Pay Up!
2008-03-21 20:53:00
That was just a little tongue-in-cheek title just to get your attention. Landlord Land Mines, the book with advice for all landlords all over is in its finishing stages. John Lockwood of Sacramento-Home fame and I are collaborating to get on various writing projects and this is our very first.Interested in getting into real estate investing? Or are you already a landlord and want to brush up on the basics? Or perhaps you're a Realtor who works with real estate investors. Well, this might be just the e-book for you! Buy one for yourself, or package it to your clients with your custom imprint. Here's what John has to say about it:"As a real estate investor herself, Purva and her husband, James, went through their share of landlord horror stories. Landlord Land Mines is the book Purva wished they?d had when had when they were getting started. Landlord Land Mines is written both from her own experience and from the experience of many other landlords who she interviewed for the book."F...
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REOs, Real Estate Statistics and the Pricing Paradox
2008-03-20 19:48:00
The investors are finally jumping in. They are actively searching properties and buying up Sacramento's real estate. February pending sales are up. And whether while this activity signals the very beginning of the end of the bad market is debatable, there is a bigger paradox that buyers should watch for and it is this - some REOs are still pretty hot properties which get picked up immediately for far higher than the asking price. Thus even though the listing price seems like a steal, the selling price shows prices stabilizing, even amongst certain low-priced homes.Where are these properties? Real ly, they are all over Sacramento county - Natomas, El Dorado Hills, even Foothill Farms and Fair Oaks. I have seen some REOs disappear in a matter of a week or two, even two to three days. These REOs have some features in common: they are usually newer, priced toward the lower end of the range in a mile radius, and don't require much work to be considered livable. Mainly, they look like su...
More About: Estate , Real Estate , Real Estate Market , Statistics

How in the World did I Miss This?
2008-03-18 21:59:00
I've said it before. And now the Sacramento Bee says it too. Maybe the next time you'll listen. :)
More About: World , Real Estate Market , Miss , The World

Federal Reserve cuts Interest Rate by 0.75%
2008-03-18 19:17:00
Another rate cut came in today. The Fed cut interest rates by .75% down to 2.25% now.If you are a home buyer wondering if this will affect mortgage rates, the answer is probably yes. But maybe not in the direction you are hoping. Head on over to Dan Green's Mortgage Reports to get an idea of why.
More About: Breaking News , Federal Reserve , Interest , Rate , Cuts

Ask Sacramento Real Estate Gal Answers!
2008-03-17 18:48:00
I received this email the other day and thought it would be interesting to answer it online. I know the recent foreclosures have created this problem for many tenants in the Sacramento area and all I can say is that my heart goes out to them. I have always emphasized that landlords treat their rentals as a business - an ethical business - and this is obviously no way to do so. Read on:Sacramento Real Estate Gal, We are renting a house in Fair Oaks. The mortgage went into default in December, but we continued paying rent through February. The landlord has denied any problem every time we ask her. My husband decided to withhold March rent because she definitely won't refund our deposit. She served us with eviction papers March 10th, we received a Notice of Trustees sale on the door March 11th. The sale is scheduled for April 1st. We have been told we have to pay rent, don't pay the rent...what should we do? - S.P.S.P.,My recommendation to you would be to start looking for another pl...
More About: Real Estate , Answers

HUD introduces changes to RESPA
2008-03-16 19:13:00
HUD recently released some changes to the Good Faith Estimate to help real estate buyers better understand the loan they are getting. Read the details here. While these measures help, I believe there is no substitute for an honest mortgage person who makes sense of the numbers for you.

Oh, baby!
2008-03-14 17:51:00
While this is not the good news I was referring to in my earlier post, it certainly beats everything else right now! Yes, that's my (as yet) unborn daughter and I'm so thrilled to share the news with everyone. Will she be another Realtor and take over the family business? Hmm... who knows? Are we looking at a future mogul? (mogulette?)
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Have I Forgotten the Landlords?
2008-03-12 21:40:00
Nope. In fact, Im spending the day working on that Landlord e-book I promised to get out this year. I'm still very excited about it.I might even have some great news about it this week!
More About: Landlords , Forgotten

Sacramento Condos for February: the Numbers
2008-03-10 18:03:00
Median price actually rose for Sacramento condos in February 2008. Yes, that's right - it rose. And even though this might be seasonal, I'll take my good news wherever I get it. So there.Median price for condos in Sacramento was up 18.9% from January to hit $170,000.Pending sales were higher as well at 116 over January's 93. Solds were at 59.There are two things that stick out at me as I look at these numbers: For one, the number of pending sales do not equal the number of solds the following month. With the huge gap between the two, it makes me wonder if it is just the short sales that aren't going through that show up pending every month and cause problems with the stats, or if it really is people changing their minds. Too much choice can be pretty disconcerting for a lot of otherwise happy home buyers.The second thing that I notice that is actually good news is the number of houses entering the market every month has dropped. If you looked at the numbers for single family re...
More About: Numbers

Sacramento Real Estate Statistics for February: Single Family Market
2008-03-07 19:29:00
Yesterday I wrote about how pending sales are higher all over the country and the National Association of Realtors expects a housing recovery beginning in sometime late 2008. Nice to know some of the statistics from Sacramento county tell the same story. The latest numbers from the Metrolist MLS for the month of February:The median price has steadied, it seems, at least for this month - $255,000 it remains, the same as January's median price.2155 new listings were added to the market and 864 sold, pushing existing inventory to 8749, a smaller number than January's 9042 actives. This brings existing home inventory to about 10.1 months, down from last month's 11.9. Here's another caveat, however. Pending sales were higher again - a total of 1474 houses went into contract in February - 21% more than January's pending sales, which were already higher than December's. I hear rumbling underneath the surface! If all these pending sales go through inventory numbers could look very dif...
More About: Family , Estate , Real Estate , Market , Statistics