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Sacramento Real Estate Gal

Sacramento Real Estate Gal
A blog about Sacramento Real Estate, Market Updates, Investment Advice and Real Estate Trivia.

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Articles

Home Buyers like Condos: Market Update May
2008-06-06 17:02:00
As opposed to last month, the median price of a condo in Sacramento county jumped 12.6% to reach $153,000 in May. 114 condos sold, an improvement over last month's 100 and 150 condos went into escrow in May - better sales all around and better prices to go with them!136 new condo listings came on the market, lower than last month's 154.Want more good news? Okay. There are 622 condos for sale in Sacramento county, which brings inventory down further than last month, to sit at 5.45 months.
More About: Real Estate Market , Market , Home Buyers , Home , Update

Sacramento Market Update: Single Family Homes in May
2008-06-05 16:41:00
Days on market fell for the first time in months! We are down to 54 days on market for the average house sold in Sacramento county. Median price has remained fairly stable - down slightly from last month's $235,000. April was at $230,000.1594 homes sold in the month of May and 1995 new listings came on the market. The real surprise? 3621 homes went pending sale in the month of May - that is almost twice the amount of homes than went pending in April!There are currently 8135 houses on the active market, inventory sits at 5.1 months.Tomorrow: condo market.
More About: Family , Real Estate Market , Market , Update , Homes

Sacramento Real Estate Market Update Coming Tomorrow!
2008-06-05 04:29:00
Yes, it's finally the fifth of the month! So watch tomorrow for an exciting update on the Sacramento county market. From what I've been hearing and seeing, sales are up and the Sacramento real estate market as a whole seems to be recovering. Check back tomorrow!
More About: Estate , Real Estate , Real Estate Market , Market , Update

Real Estate Investing Article Worth Reading
2008-06-03 15:30:00
One of my favorite writers, Liz Pulliam Weston, over at MSN Money has written a new article about being a landlord. While being a landlord is an excellent way to invest in real estate and save for retirement, it is by no means easy. She discusses a few things in this article. Looking for rentals? Why not search here?If you're looking for advice on being a landlord, head over to Landlord Landmines.
More About: Reading , Estate , Real Estate , Real Estate Investing , Article

Bargain Crosswoods Condos
2008-06-03 01:39:00
For the first time in a long time, condos in and around the community of Crosswoods in Citrus Heights have fallen under $200,000. If you are considering buying a condo and like Crosswoods (I had a client who would buy nowhere else but there!) search these listings. There are at least a dozen right around $200,000.
More About: Bargain

What am I Getting Paid For?
2008-06-02 14:34:00
An old broker (not in age, but the temporal sense) I used to have mentioned this little nugget about real estate sales I still remember: he said that the worth of any Realtor is how much expertise, experience and market knowledge she brings to the table for her clients. Unfortunately, some of our clients seem to think we get paid to make flyers for our listings. Anyone can make a flyer, only the good ones can sell a house.Quotable.But also very true. I was reminded of this recently when I was talking with John Lockwood about the fact that we need to educate our clients on two things in today's market: One, the fact that they will never potentially close a short sale purchase (statistically only 5% of short sales ever close) and Two, foreclosures really are very competitively priced. Their chances of getting one goes down exponentially if they don't make full price offers.While as a buyer's agent it is not up to me to tell clients what they should offer on a home or which house th...
More About: Paid

Sacramento Ranked 12th in Clean Air
2008-06-01 14:40:00
Sacramento might not be the best place for allergies, but a recent press release by Sacramento county claims that Sacramento ranks 12th for the least amount of carbon emissions per person nationwide!Read the press release here.
More About: Clean , By the Way , Sacramento

Tenants Facing Foreclosure
2008-05-31 21:21:00
Another story popped up in the Sacramento Bee recently about tenants facing foreclosure. I had written about it when the first tenants were being foreclosed on last year. Hey, maybe you should read this blog first!
More About: Foreclosure , Tenants , Facing

Sacramento's I-5 Project Begins Tonight
2008-05-31 04:17:00
If you travel to downtown Sacramento or will be using I-5 on a regular basis, go here for details on the repairs and to plan your commute.
More About: Project , By the Way , Tonight , Downtown Sacramento

Fannie Mae, Freddie Mac Revise Policies
2008-05-31 01:37:00
This just in from Darin Marquardt of Chase Home Loans:Fannie Mae and Freddie Mac have recently announced that they are eliminating their declining market policies beginning June 1st. Additional details will be provided when they are received from the Agencies. It is important to note that the mortgage insurance companies still continue to underwrite loans to their declining market polices, so MI restrictions will still apply for now. In light of the Agency announcement, Chase plans to eliminate the Agency declining market policy in an upcoming release. Until further notice, loans should continue to be decisioned per posted policies and product guides.To get prequalified, click here.
More About: Freddie Mac , Policies

Landlords Beware!
2008-05-30 15:18:00
There's a new scam out there. If you're a landlord like me who advertises on Craigslist and VFlyer you should watch for this story: the so-called tenant will usually approach you by email saying they are from the UK or some other foreign country. They inquire about the property and the rent. (This should be the first red flag since both the property address and rent is clearly displayed in the rental advertisement.)The rest of the story goes something like this: "Someone in the US owes me money, so they will pay you usually an amount much higher than the deposit and rent. You then have to deduct your amount and pay me the rest, so I can actually fly into the United States." Sound familiar?It should. Here's what will probably happen: The check the person who owes them money will send you might look good, but will bounce. You will be required to wire money to the so-called tenant. Why does this work? Because banks are required to make deposited funds available to you within 48 - 72...
More About: Beware , Landlords

Waiting for Prices to Drop 30%?
2008-05-30 03:07:00
In recent months, I haven't spoken to too many real estate buyers who are waiting for prices to drop another 30% but there were a few last year. As it turns out, these Chicken Littles awaiting this kind of disaster are few and far between. As many numbers show, prices are heading toward stabilizing in the Sacramento market, sales are up and inventory is down, even the Sacramento Bee was surprised by the numbers and first-time buyers are entering the real estate market and Greenspan called the housing bottom nationally.But for the rest of the doom-and-gloomers, here is a very interesting article to read about how the Case-Shiller index that the media keeps playing up as "the best gauge of home values" has a reason to be pessimistic - it has relationships with hedge funds on the side. So much for the Chicken Littles talking about Realtors with bad ethics and conflicts of interest.
More About: Waiting , Drop , Prices

Sacramento Real Estate Gal Shakeup and the Truth about Cats and Dogs
2008-05-29 17:17:00
In spite of the fact that we're having a baby, my husband and I decided to get another cat. Actually, I decided it - he just thought it wouldn't be such a bad idea. Since moving from Sacramento to Pollock Pines, the number of cats we have has gone down from three to one. So, we get Fuggles. We also have a dog. But besides the fact that they are cat and dog, there is one major difference between these two and that is this: for entertainment, Fuggles will irritate and aggravate things, people and animals around her. The carpet, the dog, the other cat, even us. The dog will just look morose and hope to be noticed. But where am I going with this? Don't worry - I haven't finally just lost it.I'm finally beginning to understand the beauty of Fuggles' world. When you feel like you're stuck in a rut, you just have to shake things up - even if it means aggravating everyone around you. Thankfully, the changes coming to Sacramento Real Estate Gal shouldn't be too aggravating - but I am...
More About: Truth , Dogs , Cats , Real Estate

Sacramento Property Taxes Fall Again!
2008-05-28 04:02:00
Some homeowners are seeing their property taxes falling again. This time, they are told, the reduction is temporary and the result of market value being lower than assessed value, especially if they have bought the home around 2004 - 05.The real estate taxes will not be refunded. However, the homeowners will receive a lower tax bill for the 2008-2009 ta year. Check your mail for the latest details. Many Sacramento homeowners have already received this letter from the assessor.
More About: Taxes , Property , Fall

Things to do in Placerville
2008-05-27 15:41:00
If you find yourself in Placerville with nothing to do, here are some tried and tested ways to entertain yourself:There is only one movie theater, but they do have art movies showing usually every Monday. Check at the counter.Head downtown! You can easily spend a few hours there browsing art galleries and shopping. While there, visit The Bookery. If you like used books and great prices, you'll love the place! If you're into beer, visit Jack Rusell Brewing Company. Ask for a private tour of their brewing facility. The guys usually like this part. And for the women, visit The Wine Smith - again in downtown Placerville! (Next door to The Bookery) If you happen to be in Placerville on the third Thursday of the month, stay a little longer at The Wine Smith for the monthly HAZE club meetings. Taste beer, learn about brewing it - hey, you might come back!Need I say more?
More About: Things

Where else but in Pollock Pines...
2008-05-27 03:34:00
... can you get beautiful rainy weather like this? No, I'm serious. It's about 45 degrees outside and wet. Lovely day to curl up with a book - or as in my case - a laptop. Considering being a neighbor and buying a home up here at 4000 feet? Browse these.
More About: Neighborhoods

Memorial Day Video
2008-05-26 15:39:00
Please take a minute or two today to think about and thank the real heroes.
More About: Video , By the Way , Memorial Day , Memorial

House for Rent!!!
2008-05-26 02:04:00
2 Bedroom, 1 Bath home available in two weeks. This is my personal property. Rent is $1000 per month with $1200 deposit. Section 8 okay! To see the address and other details, please go here or call me at 916-712-4255.
More About: House , For Rent , Rentals

Will HUD Please Make up its Mind?
2008-05-26 01:00:00
As part of my recent attempt to get over my fear of learning new things and trying to rent one of my rentals as a section 8 rental, I have been on the phone with HUD and the Sacramento Housing and Redevelopment Agency about three times now. Here's the interesting thing: every time I have heard a different story. The first time, I was told I had to do nothing. Just register your rental and wait for an SHRA agent to call you for a "briefing." Second time, no agent was to call me, but I would receive a "briefing packet in the mail." Today, when I called (the last time so far) I was told there was no briefing packet... "and why would an agent call you?" Instead I have to attend a Landlord Orientation. Everyone I had asked about renting out my house as a Section 8 rental had said, there's nothing to it! I'm not giving up yet. Maybe there's more work on the front end and lesser later. At least, I hope so.
More About: Make Up , Mind , Rentals , Make , Make-up

Another Reason to Buy Real Estate in Sacramento
2008-05-24 15:04:00
Just the other day, I spoke to a client who is getting married this weekend and will be buying a home to start their lives together in our very own Sacramento. If you're raising a family here in Sacramento, you're in good company. Best Life editors just ranked Sacramento the 29th best city to raise a child.Read all about it here. The results were based on the U.S. Census Bureau, National Center for Education Statistics, FBI, American Association of Museums, National Center for Health Statistics, and the American Bar Association.
More About: Estate , Real Estate , Neighborhoods , Reason , Real

Another Great Short Sale Article
2008-05-23 16:47:00
Maybe the reality of short sales - neither short nor sales - John's by now famous quote is finally beginning to sink in. Most traffic to this blog comes from Google search and here are some of the search terms people are using: "Buyer's rights short sales;" "Short Sale Addendum;" "Short Sale Buyers" and so on. I think this points to a definite uncertainty in the market relating to short sales. Buyers don't know what to do or expect when faced with a short sale. Sure, the price seems interesting in the beginning, even enticing. And they think they have the patience to wait it out.Here's another excellent article which points out why they are better off staying away.
More About: Article , Great

Foreclosure Filings Up... and Why this Might be a Good Thing
2008-05-22 14:42:00
Yahoo recently reported that foreclosure filings are up 65% from last year's numbers in April nationwide. The last time we had such record numbers of foreclosures was in August 2007. While I am not thrilled about the individual effect this has on the families involved, I am glad that this is happening on an overall market scale and especially for Sacramento.Really, you say. But aren't foreclosures bad for prices? Yes. And yes. But foreclosures are bad for prices in the short term. Foreclosure s however are not bad for sales. The real problem in the Sacramento market as I see it? Short sales. Not convinced? Okay, onto the reading material!Here's an excellent article on Sacramento-home by John Lockwood that talks about how short sales are neither short nor sales. Elsewhere, he mentions that any given time 5% of all short sales on the market actually close escrow. I have also written before about how life would be a lot easier if banks just foreclosed on these defaulted properties. I...
More About: Good , Thing

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