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Sacramento: Is Now the Time to Buy?
2008-10-21 17:23:00
Now is always a good time to buy. Or so goes sales-speak. But perhaps there is a reason for it beyond just the job of sales? (Yes, it's a job... like any other!) But today I want to discuss with you why I say that about real estate in general and real estate in Sacramento in particular. Time , not TimingAs you can probably tell, I'm not a big fan of timing the market - real estate or otherwise. True, some people can do it pretty well and profit from it, but I believe most people use market timing retrospectively to justify their own fears or expectations. In other words, when the market goes down, the fearful ones feel justified; when it house prices appreciate, the optimistic ones feel victorious. With all this tongue thrusting at one another, the reality of historical price appreciation, the inherent value in real estate and population growth gets ignored. As someone pretty smart once said, "It's about time in the market, not about timing the market." I wish I could remember who...
More About: The Time

Think Realtors can be Funny?
2008-10-20 16:32:00
As if I didn't have enough to do, I just started two new blogs you have to read. Okay, you don't have to, but it would be nice if you read them. Buying and selling real estate doesn't offer much comic relief, so I've been forced to entertain myself and a few of my friends (few, very few - just a handful, really) with these. Landlord LandminesMommy Wants Another BabyGo ahead, click on the links. You know you want to.
More About: Funny , Realtors , By the Way

Property Tax Bills Being Mailed this Week!
2008-10-19 22:55:00
Yes, it's that (dreaded) time of year again. Property tax bills will be mailed out this week to all homeowners in Sacramento county. El Dorado county should have already received theirs. Taxes are due November 1st (late after December 15th) and February 1st (late after April 15th) - NDFA - No Darn Fooling Around. (Nice mnemonic, huh?)If you have an impound account with your mortgage company, these taxes will be paid by them, since you have been paying a little every month into the year's account. Be sure to check with your mortgage company however. Some are notoriously bad at paying these taxes and there is a 10% late fee, which you will be responsible for if they slip up.
More About: Week , Bills

Real Estate FSBOs - a Perspective
2008-10-18 14:40:00
I'm not ashamed to admit it. My neighbor is a FSBO. He is selling his house as a for sale by owner. I've watched the debacle happen. First, there was a sign in his yard listed with a Real tor's phone number and name, then there was snow. Then there was a small sign with a tiny scrawled phone number. And then again there will be snow.What happened? This is the wrong time to be a FSBO. The time of the FSBOs was when the market was so hot, people were thrilled to find a home that they suspected had not been seen by anyone else. Home buyers were making offers before yard signs went up. All to avoid being in multiple offer situations. I know. I was there. I saw a house sell on a listing appointment. I'm not kidding. But we aren't in that market now. And if houses are not selling with marketing exposure, low pricing and buyer incentives, FSBOs stand a very low chance of ever selling at all. It's not about (only) about commissions!I know. You want to save money, right? And you think l...
More About: Estate , Real Estate , Perspective

Guess Who's Back at Sacramento-Home?
2008-10-17 14:33:00
No, I haven't stopped selling real estate. No, my baby isn't all grown and flown away.No, I haven't completely given up on real estate.Yes, I'm back at work. Go check it out! (And come back here for more.)
More About: Home , Back , Sacramento , Guess

I Promised a Follow Up...
2008-10-16 17:43:00
...to the rental inspection underway at one of my rental properties in Sacramento. And here it is. I came to Sacramento and decided to wait at Starbucks, just in case the inspector needed me to be there. (Which, by the way, the letter I received said he would.) But they don't. So here I sit. With some real estate related work to be done. I'm just going to make sure the inspection gets done before I leave. You just never know.

Sacramento adopts Rental Inspections
2008-10-15 15:55:00
I recently received a letter in the mail from the Code Enforcement Division of the city of Sacramento regarding a rental inspection program they have adopted. According to the letter, a fee of $140 per rental unit for a period of five years (billed annually at $28) will be assessed to landlords and general inspections will be carried out to make sure rentals are safe havens for tenants and do not cause blight. Good idea. Bad execution. Case in point: The inspection time is set for between 8 a.m. to 12 noon. The letter to my tenant doesn't say that the owner must be present. My letter insists I must be present. What am I supposed to do? Sit in the driveway for four hours? Or shoot the breeze with my tenant while we wait for the inspector? A re-inspection fee costs $80 so I'm going to be there.Will keep you posted!
More About: Rental

If you live in Sacramento...
2008-10-14 17:10:00
... and are looking for a nice quiet place to relax on the weekends, come up to Pollock Pines. It's no wonder many Sacramentans and people from the Bay Area buy vacation or second homes here in my neighborhood. While Tahoe is still a drive away from Pollock Pines, the lakes around here provide some quiet calm places to relax and - if you're into that sort of thing - fish, boat or swim.This last weekend, we headed out on our first family picnic to Forebay Lake, less than a mile from the middle of town. We fished, but didn't catch anything, so, darn it, no pictures of huge fish. But here's a random one anyway - a man, his dog and the clear blue water with trout - sigh! It was Sunday and so, so quiet! What's the chances of that ever happening in Sacramento ?And yes, shameless plug here, if you're considering a vacation home, give me a call!
More About: Live

"My Dad's a Broker! Help!"
2008-10-12 17:49:00
Ever so often the Realtor on call at our office gets one of those real estate calls every agent hates. The one where a potential buyer asks a bunch of questions about a property. Not being one of those companies where we know our ABCs (Always Be Closing lines), we are glad to help. The fact is, information is all around us, so traditional floor techniques where the agent withholds information about the property until he gets the client's telephone number really don't work any more. But I digress. After we have given out this information however we have to ask the usual, albeit traditional, question - Are you working with an agent? Most homebuyers say no. But I think lately a better question I'm going to have to add my repertoire is this: Are you involved with a real estate agent in any way? Are you dating one, related to one or otherwise planning to adopt one possibly? Is there any one in your family who has just passed a real estate exam? A distant cousin somewhere? Give them a ...
More About: Broker

Not a Real Estate Announcement
2008-08-25 21:19:00
Okay, enough prodding already. Here she is. Baby Sierra was born August 14 at 3:45 in the morning (talk about getting an early start!) with Daddy and Mommy welcoming her bleary-eyed and teary-eyed - hey, that rhymed. In the coming weeks, I'll be spending most of my time with her and less time on the blog. So excuse the absence and take the time to browse some of the older, more well-written articles which were not the ramblings of a pregnant brain!
More About: A Real Estate , Estate , Real Estate , Announcement , Real

An Ode to Pauses... Real Estate or Otherwise
2008-08-22 15:10:00
One of the bloggers/writers I love to read is Penelope Trunk. I have subscribed to her blog The Brazen Careerist and look forward to what she says. I don't always agree with her, but her honesty and straightforward writing always appeals to me. The other day, she wrote about pausing and how important it is in conversations as well as elsewhere and I think she makes some good points. For example, pausing during a conversation or speech gives people a chance to digest what you're saying, to applaud (or not!)Here's what I think she missed: while we are adding analogies, how about pausing while investing? Why can't we think of the present real estate market as simply a pause instead of a calamity? The best real estate investors are patient. They think. They pause. Sometimes, it seems like, forever. But you know who didn't pause? Casey Serin. Not once on his way to a million dollars in bad debt. So breathe. As long as your house is not in foreclosure, look elsewhere. Pause. Take a b...
More About: Estate , Real Estate , Real

How Green is your Home?
2008-08-21 14:41:00
Since we're all talking about saving lately, I thought I'd add my two cents about saving water. Check out this site. It takes you step by step through each area of the house and points out where you can save water. From landscaping to the kitchen to the bathroom. Very interesting. I already learned what "Xeriscape" means. Do you know?
More About: Home , Green

Country Living Dreaming
2008-08-20 14:28:00
One of the tools I use quite a bit when I'm bored or just wanting to surf the internet without committing myself to anything is Stumble Upon. Today, it found for me this site of hand built log homes. I've always dreamed of owning one of these but never thought I would be able to live for an extended period in the country. I was wrong!If you're considering moving to a more rural area like Pollock Pines, I can show you a few homes which look quite similar to the ones in the showcase of the above website. (Look those up by the way - they're breathtaking!) In fact, feel free to browse my neighborhood right here.
More About: Living , Country , Dreaming

Landscaping / Gardening in Sacramento Resource
2008-08-19 15:24:00
If you're one with a particularly green thumb, you should know that landscaping adds on an average 5% increased value to your home. I'm trying to find the basis for where I read this little nugget of information, but am unable to right now. So you'll just have to believe me. :) Landscaping , especially of the front yard adds curb appeal which will make people stop and notice. You want buyers to notice, don't you?One resource I found invaluable in Sacramento is Angela Pratt's website SacramentoGardening .com - not only does the site have valuable information about what to plant and prune in your garden this month, it also has a list of nurseries in Sacramento and coupons for purchases of plants.Remember, all gardening - like real estate - is local. So be sure to check out the site before you plant!
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Real Estate Quote (of the year!)
2008-08-18 15:01:00
The fact that writers will go through so much to remain writers says something, perhaps everything. It would be far easier (and nearly always more profitable) to become a real estate agent. - Marie Lenhart(Perhaps I should send this in a mass email to my fellow ex-students of the writing class at Fresno State?)
More About: Estate , Real Estate , Real , Year , Quote

Are we Bored Yet?
2008-08-17 15:14:00
We're a tired bunch lately. Real estate is so passe. Foreclosures? Oh, yeah - that. My street has about five houses for sale. I don't know how much they're asking, just that they're grossly overpriced. I mean, really... real estate is only just dirt if you really think about it. Think about it. Really.Investors are vultures, we're sick of them. We're tired of seeing "the faces of foreclosures." Why can't we just throw some tax money at everyone and make them happy? And I'll just go stand in line to protect my $5,000 in that CD the mortgage bank offered me. Never mind the FDIC. I don't trust anything. Except cash. And maybe gold.Real estate, you say? Even the Sacramento Bee is sick of writing about it. Real estate agents don't answer phone calls and some of them are off having babies! You would think in this market they'd want business. Now maybe if I could just buy that million dollar home for about $250,000 I could close in a week. Of course, I could also buy a bunch of ...
More About: Bored

Must Read Real Estate Article
2008-08-15 15:00:00
I was browsing the usual sites for mental fodder when this real estate article caught my eye. I think it's very important for everyone to read it. If you were one of those people who has bought a house in the last five years, this article might just save you close to $1,000 in property taxes.Some people have already received letters from the tax assessor with a reduced property tax bill notice. If you have not, learn how to contest your property taxes!
More About: Estate , Real Estate , Article , Read , Real

Could Researching Real Estate be your Downfall?
2008-08-14 16:03:00
The other day I was chatting with a friend of mine and the topic of investing in real estate comes up. Nothing like something I believe in strongly to brighten up the day. She lives in Canada, where real estate is still pretty hot, she says. I have no way of knowing, so don't take my word for it. We got talking however about how much one needs to know before knowing that buying a house for investment purposes is a good idea.Just enough, I said. It's important not to read too much of the news. It's a good idea to know what the general mood of the market is but it's just as important not to put too much stock into the everyday details.She seemed surprised at this. I thought she would be. But hear me out.I believe it's more important to have a historical view of real estate and a futuristic view of where you want to invest. The rest is just noise. And if noise disturbs your concentration, you're going to fall flat on your face.Consider the so-called investors that bought during t...
More About: Estate , Real Estate , Real

Sacramento County Condo Market Update
2008-08-13 15:54:00
135 condos sold in Sacramento county in the month of July, up from June. Prices fell to $125,000 from last month's $135,000.130 condos went pending sale, the same as last month! Inventory is up again to 624.Interestingly enough, I think the lackadaisical response of most home buyers to condos is partly because single family homes are so inexpensive. In my opinion, condos will trail behind single family sales for a while. Especially in Sacramento, we see people buying condos when they can no longer afford houses.Whether the downtown projects to make upscale condos succeed is yet to be seen.
More About: Market , Condo , Update , County

Sacramento County Real Estate Market Update: Single Family Homes
2008-08-12 15:24:00
I just gave myself the biggest fright: while checking statistics for Sacramento county in the MLS, I incorrectly ended up checking sales on only July 1st instead of the entire month of July. The number of sales hovered around a hundred. I thought the end of real estate had definitely begun! In my defense, I am on my first cup of coffee. So - now with the right numbers and another swig of this homemade Starbucks - on to the real statistics...Median price has fallen again to $215,000 from June's $220,000. Days on market remain at 49. 1968 homes sold in the month of July and pending homes are at almost the same number as June: 2064.Perhaps the biggest change is how many new listings came on the market: almost three times the amount as in June: 3903. There seems to be evidence that the market is beginning to absorb these however: there are a total of 8005 active homes in Sacramento county but inventory is down to 4 months from June's 4.6 months.Follow the numbers: June's real estate ...
More About: Family , Estate , Real Estate , Real Estate Market , Market

Sacramento Real Estate Market Update Coming!
2008-08-11 15:21:00
Yes, I've fallen behind on it again - something about having a baby makes one a little empty-headed. The other day I was talking to a friend and forgot halfway through a sentence where the conversation was headed. Yes, conversations are tough. Yes, "mommy-brain" is a real phenomenon.Yes, please come back tomorrow for the market update on Sacramento county.
More About: Estate , Real Estate , Real Estate Market , Market , Update

Real Estate Spam: an Unfortunate Effect of the Housing Downturn
2008-08-10 15:09:00
Is it me?Every morning, with my trusted cup of coffee, I check my email. And my inbox is absolutely out of control. I would love to say it's all the buyers that are reading this blog and getting very excited about buying a house - what with the buyer's market and all - but alas, it is instead spam.Maybe I made the mistake of signing up for one too many "real estate training" seminars when I was green and they have never forgiven me for it. Or maybe it is the blog people are hitting, just the wrong people. Or robots.Whatever the case, I wish I could stop getting daily ads from real estate brokers wanting to hire me ("We offer 100% commission AND the broker's time share in Florida every time you close a transaction - we have hired 4000 agents in one week!"), real estate trainers wanting to show me how to do short sales ("If you get all the paperwork just right, you might have a snowball's chance in hell it will go through...") and just plain old lies from relocation and lead gener...
More About: Spam , Estate , Real Estate , Housing , Real

Hope for Zero Down Home Buyers
2008-08-06 20:02:00
Lately I've been speaking to a few real estate buyers that have the willingnesss to buy but do not have the down payment. Today, it is impossible to buy a house without 3% down. While lenders are quick to follow this up with "it can be a gift," most people that would like to buy a house don't have relatives who can gift them approximately $9,000.Here's the good news: I recently heard about the USDA Rural Access Program. This is a new 100% financing program you can use to finance the purchase of a house in rural areas. Most areas in El Dorado and east of El Dorado may qualify. If you are considering buying a home and don't have money down, you might want to consider El Dorado county. Call me for details!
More About: Home Buyers , Home , Hope , Buyers

Mortgage Update
2008-08-03 15:47:00
From Huck Ferrill, our guest mortgage blogger, the nuts and bolts of Congress' housing reform package is below. Some good, some not so good.The not so good:Seller funded down payment assistance (Nehemiah) will be gone if the loan is not approved by Sept 30, 2008. Gifts from relatives and public nonprofits is still OKMinimum borrower cash investment requirement for FHA is increased from 3% to 3.5%. It can all be a gift. Seller credits are still allowed for closing costs but not down payment.The good:Higher conforming loan limits are being made permanent. Max $625,000 and dependent on area median price.The great: $7500 tax credit for a first time buyer(s). Max income $75,000 for a single person and $150,000 for a married couple. Everyone who doesn't own a home should find out about this as fast as you can tell them.
More About: Mortgage , Update

Considering Remodeling? Think Rustic!
2008-08-01 15:11:00
If you're considering sprucing up your house this summer, consider a style often ignored in real estate, but one that - when done right - adds dollars and makes sense. I'm talking about the rustic look. You know, the country house. And before you turn up your nose like you smelled a stable, consider the following:1. There might be evidence that consumers are getting bored of granite and the polished, seemingly new look it seems to beg for from the rest of the house. I can't remember where I read it, but now that I have I see evidence of it everywhere. Most home buyers say, "oh, granite countertops," instead of "ooooh, granite countertops!!!" like they used to. They're thinking maintenance and co-ordination from the rest of the house will be a pain. You might disagree, but know that the granite craze is over and on its way out. 2. Rustic can mean green. Many home owners are now getting interested in creating green spaces that are low maintenance and this refers not just to the ou...
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Buying an REO is like Having a Baby!
2008-07-31 15:29:00
I've developed a new found respect for my first time buyers, especially when they've ventured into unknown territory and bought bank owned real estate while knowing nothing for sure about the Sacramento real estate market. These brave buyers will do well in the future when real estate values begin climbing! I have realized how wonderful their courage is when I'm 39 weeks pregnant with baby girl not showing signs of wanting to meet the world yet! And as an expectant woman's mind dwells on the same question of "When?" over and over I created this list:1. Making the decision is one thing - getting used to it is quite another. It's all you can think of for a few days. "Am I really going to buy a bank owned property?" "Are we really going to have a baby? Really, really?"2. Chances are, over the long run, both cost about the same.3. At no other time does trust that everything will always go well play such an important role...4. ...until something inevitably goes awry. Not terribly so...
More About: Baby , Buying

Historic Housing Bill Signed
2008-07-30 18:21:00
The President this morning signed a historic housing bill "Housing and Economic Recovery Act of 2008." It is believed that this bill will help some 400,000 homeowners who cannot make their housing payments to be able to refinance their mortgages with FHA-backed loans. It will also permanently increase FHA, Fannie Mae, and Freddie Mac loan limits in high-cost areas.
More About: Signed , Historic , Bill

"Real Estate Agents Don't Call Me Back!"
2008-07-25 18:59:00
The other day I received a call from a client who is looking for a home - a personal referral - and her biggest complaint was that she had called a few places and the Real tors were not returning her calls. "I would have thought in this market they would be happy that customers are calling and return those calls," she said in an exasperated tone.I guess that's what they mean by a buyer's market. No one does what you expect them to do. Realtors don't return phone calls and buyers who have loads of opportunities to buy homes dirt-cheap decide to wait it out.A little bird told me recently however that parts of Sacramento are recovering. And the bird is getting ready to call the bottom of the Sacramento real estate market. This is a very mathematical and market research oriented "little bird" so I believe him. And we talked about what buyers will do when prices go up. I know the answer. They'll start buying, stop bargaining. And pay exorbitantly more for a house than they would have ...
More About: Estate , Real Estate , Agents , Back

Adding Value to Your Real Estate
2008-07-17 18:11:00
If you're like the thousands (millions?) of people painting your homes just because it's summer (personally I paint in the winter) you might want to consider reading this article that appeared in MSN.I have seen many people shy away from darker or more expressive colors when they perceive the room in question as "small." I remember as a child my parents always went with the boring pastels and whites because the rooms were too small. But there's nothing wrong with trying something new. There are some interesting color choices listed here. And even if you can't quite tolerate the idea of having too saturated a color all over the walls of the room, consider an accent wall. If you pick the right color on the right wall, you might end up making the room seem bigger!
More About: Estate , Real Estate , Real

Foreclosure Crisis may lead to Necessary Changes
2008-07-15 16:56:00
With so many homes being lost all over the country, it is time there are some changed made in the real estate industry, especially regarding lending. A few good things proposed that might become a reality in the future:1. Lenders will require proof of income if the borrower's credit isn't good. Also money for taxes and insurance will need to be set aside.2. Prepayment penalties are banned if the payment changes in the first four years. (I would like to see prepayment penalties go away completely. It is a ridiculous clause anyway.)3. The borrower must be able to repay the home loan based on house's value alone. This one is a little confusing to me because it seems like this condition is already present, which is why we have appraisals. No one can guarantee the future value of a home, and it seems that's the desire here.We seem to be moving in the right direction - just very, very slowly.
More About: Foreclosure , Crisis , Lead