It's a Seller's Market?

The media is still calling this a Buyer's market, and in some cases it is. However, if you're trying to buy a bank owned property, it's a seller's market. Banks are pricing their listings at rock bottom, which is bringing in multiple offers. A client called and wanted to look at a home that was just listed for an incredible price in Elk Grove, I checked with the agent and it had 17 offers. SEVENTEEN! Sellers of "normal sales" of homes are begging for just one offer, but those homes are overpriced.

So if you're a buyer and making offers on bank owned homes, don't lowball...the bank won't even acknowledge you. Also, be patient, your home is out there and when it's supposed to be yours, that's the house you'll get.

Did You Buy Your Sacramento County Home Between 2004 and 2006?

If so, you could be eligible for a property tax reassessment on your home. The County recently sent out letters to many homeowners regarding the lower property values and the resulting lower tax assessment. Our home has gone down, according to Sacramento County, $107K -- actually it's lower than that, but I'm not going to argue with a reduction of my property taxes in any form.

If you feel your home has lowered in value since you bought it and still have yet to receive a letter stating so from the County, you can do so online at: http://www.assessor.saccounty.net/DeclineinValueReassessments/default.htm