Real Estate Moment

Help for Unemployed Homeowners

2012-01-27T09:45:00.001-08:00

Fannie and Freddie are looking to give some assistance with delayed foreclosure for distressed homeowners, among other help.

For more info: http://www.nytimes.com/2012/01/22/realestate/mortgages-a-reprieve-for-unemployed-borrowers.html?_r=2&ref=realestate

Chase and Wells Fargo to Shorten Foreclosure Timelines

2012-01-24T16:20:00.000-08:00

This is important info if you have a distressed loan with Chase or Wells Fargo.

For more info: http://realtormag.realtor.org/daily-news/2012/01/24/2-big-banks-slash-foreclosure-sale-timelines&WT.cg_n=RMO&WT.cg_s=RSSDaily?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+DailyRealEstateNews+%28Daily+Real+Estate+News%29&utm_content=FeedBurner

So Many Buyers So Little Homes

2012-01-20T08:57:00.000-08:00

If you're a buyer, it's tough out there. If you're a seller and your home is priced right, you will receive multiple offers over asking price. We have 1.8 months of inventory, which is a sellers market. This means it would take only 1.8 months to sell everything listed for sale if nothing else came on the market. A neutral market for both buyers and sellers is between 3 and 6 months of inventory. Our inventory goes down each month.

This doesn't mean buyers aren't getting homes, they are. But, it's a bit of a challenge. If you're a buyer, be patient -- your house is out there.

Great Wachovia Fast Track Short Sale

2011-11-16T17:12:00.000-08:00

98 Summer Rim Circle, Sacramento

Property in mid-remodel just waiting for your finishing touches. Home features recently remodeled kitchen with quartz counters, newer cabinetry, and all stainless steel appliances; recently installed laminate flooring throughout living/dining room and all bedrooms; newer dual pane windows throughout; 4 years new roof; and partially removed popcorn ceilings in hall, kitchen and bedrooms.

More info: www.ScottAndKimSellHomes.com

BofA Distressed Borrower Outreach

2011-11-12T11:16:00.000-08:00

For homeowners who have a distressed loan with Bank of America, there is a free three-day workshop being held next Thursday to Saturday at the Sacramento Convention Center.

For more info: www.bankofamerica.com/outreachevent or call 855-201-7426

Caifornia has Money for Distressed Homeowners

2011-10-31T15:05:00.000-07:00

For homeowners who need help, California wants to help. If you own or occupy your home and have suffered a hardship, Keep Your Home California can provide help.

For more info: http://keepyourhomecalifornia.org/

New Listing: Fantastic Van Ruiten Ranch Home

2011-10-13T13:33:00.000-07:00

Welcome to the ultimate entertainment home that is truly move-in ready with over $100K in upgrades inside and out. Home features great room concept, birch wood floors, granite counters, stainless steel appliances, wine fridge, designer paint, wrought iron light fixtures and mirrors, custom built-in entertainment center and office desk, remodeled master bath with custom built-in walk-in closet. Backyard is fully landscaped with pool, built-in BBQ/fridge in granite, gas fire pit and covered patio.

For additonal info: http://www.postlets.com/repb/6403256

Our website: http://www.ScottAndKimSellHomes.com

Could This Maybe, Kinda, Sorta Be the Bottom of the Market?

2011-09-23T08:52:00.000-07:00

Looks like we could be at the bottom of the market. Experts are forecasting as slight 1% increase in home sales next year and a 1.7% increase in prices. It's small, but at least it's up. Of course, we'll never truly know we've hit the bottom of the market until about six months after it's passed.

Visit, for more info: http://www.bloomberg.com/news/2011-09-20/california-home-sales-to-climb-1-next-year-realtors-forecast.html

For real estate info, visit: http://www.scottandkimsellhomes.com

CA Department of Real Estate Consumer Help

2011-09-16T08:40:00.000-07:00

The California DRE has created booklets to help consumers navigate the real estate world. With topics that include:

"Finding the Right Real Estate Agents: What You Should Do"
"Preventing Real Estate Fraud: How to Protect Yourself and Your Home"
"Surviving the Escrow Process in California"
"Loan Modification Self-Help Guide"
"Financial Sense to White Picket Fence"

For more info and downloading booklets, visit: http://www.dre.ca.gov/cons_home.html

Also visit for additional housing market info: http://www.scottandkimsellhomes.com

Help for Vets Buying First Home

2011-09-06T10:45:00.000-07:00

The Pentagon Federal Credit Union is providing financial assistance up to $5,000 to Veterans or active duty military members to buy their first home.

For more info: http://www.pentagonfoundation.org/site/PageServer?pagename=dream_index

Free Shade Trees

2011-08-30T15:03:00.000-07:00

Doesn't a free shade tree sound good now that we are in the dog days of summer. Our local SMUD is celebrating 20 years of free shade trees.

For details, visit: savewithsmud.org

AHMS to Charge Buyer 1% Fee for Short Sale

2011-08-20T08:51:00.000-07:00

This is something new to me in the crazy world of short sales. I was just informed by a listing agent on a short sale where I represent the buyers that the loan servicer, AHMS, is charging my buyers a 1% short sale processing fee. This is a new way to stick it to buyers. Buyers of a short sale already get a raw deal: they wait months for an approval, the home typically has deferred maintenance, no repairs will be made, etc. These buyers are scraping every penny to buy this house, they don't have an extra 1% laying around.

AHMS should be ashamed ....karma will get them!

For Home Owner's with a Distressed BofA Loan

2011-07-28T09:53:00.000-07:00

This is a great website for home owner's with Bank of America who are having issues paying their loan, considering a short sale or a loan modification.

visit: http://homeloanhelp.bankofamerica.com/en/index.html?cm_mmc=CRE-HomeLoans-_-vanity-_-CA01VN001N_homeloanhelp-_-NA

It's Officially, Better to Own than Rent

2011-07-23T08:50:00.001-07:00

In today's Sacramento Bee on the front page is a great article about the gap closing between renting and owning.

Visit here for more info: http://www.sacbee.com/2011/07/23/3788812/home-ownership-in-sacramento-area.html

More Tickets Available for Sold Out Train Concert

2011-07-22T13:55:00.000-07:00

This Sunday evening there are more tickets being released to see Train at the Thunder Valley Casino. See you there!

Visit: http://www.thundervalleyresort.com/Entertainment

FHA Gives Jobless Homeowners Mortgage Relief

2011-07-08T09:01:00.000-07:00

Here is a great article explaining the relief FHA will give homeowners who are currently unemployed.

Visit: http://www.msnbc.msn.com/id/43673643/ns/business-personal_finance/

Short Sale Resource for Consumers

2011-07-06T13:39:00.000-07:00

With all the confusion surrounding short sales, here is a great resource sponsored by the California Association of Realtors:

http://www.shortsalescalifornia.org/

New CA Law July 1 for Carbon Monoxide Detectors

2011-06-14T12:10:00.001-07:00

Starting July 1, the state is requiring installation of carbon-monoxide (CO) detectors in existing single-family homes. These are fairly inexpensive and easy to use...just plug in.

Area markets and swap meets

2011-06-10T10:17:00.000-07:00

Looking for a fun places to shop, check out these local markets:

Denio's Farmers market and swap meet: year round Saturday and Sunday 7 am to 5 pm
denios.org
Galt Market: year round Tuesday and Wednesday 7 am to 2 pm
ci.galt.ca.us
Sacramento Saturday Market: open April to December every first and third Saturday (closed July 16) 8 am to 3 pm
sacsaturdaymarket.com

The Sky is not Falling in Real Estate

2011-06-07T12:14:00.000-07:00

So many of us giggled nervously as we thankfully avoided the end of the world a couple of weeks ago. But judging by the continued “end of the world” type coverage the Case-Schiller housing study got this week, maybe we are nearing the end.

Yes. I am joking, but I am amazed at the attention this report gets. It covers 20 markets, yes only 20, and that is just one of its many flaws. Yet many consider it “the be-all-and-end-all” economic indicator that defines our entire national housing picture. As we know, all real estate is local, and it is unfortunate that the reporting on a 20-city “national” index can have such a jarring impact on otherwise rational people.

Look at some of the headlines the other day:

“Home prices at lowest point since 2006 bust”

“Home values continue downward churn”

“No relief in sight’ for falling home prices”

And even in paradise – Maui- the front page headline in the paper screamed “Crash Spreads.” And Maui isn’t one of the 20 markets. In fact the nearest market covered is San Diego, a mere 2500 miles away!

Shawn Daly, an agent with Coldwell Banker Residential Brokerage in Evanston, Illinois, had to calm down two skittish buyers this week.

One, who is currently working in Iraq, had initially placed on offer of $450,000 on a lakefront Chicago condo. The sellers countered with a price of $525,000. But after seeing Case-Schiller inspired headlines on the web, Shawn’s client emailed him to ask that he lower his offering price by $50,000. Shawn explained that the sellers did not agree with his first offer so if he went lower he wouldn’t get the home. The buyer calmed down and agreed.

Shawn correctly pointed that the Case-Schiller Home Price Indices are meaningless to individual buyers who are looking at specific houses, on specific streets, in specific neighborhoods.

Then yesterday, Shawn met another client for a tour of potential homes. They hardly said hello without telling Shawn they were more nervous than ever after seeing the report on the news.

You have a right to be nervous, but I can’t say this enough. Now is the smartest time in my 36 years in real estate to buy a home if you have the lifestyle reason, financial stability and viability to do so.

And it’s all about “Triple I…P”. Inventory, Interest rates, Incentives and Pricing. Start with inventory, because most communities have seen a rise in the amount of homes on the market, you have more choices. Interest rates for mortgages remain at near-historic lows and have actually trended down over the last 7 weeks, with Freddie Mac reporting 30-year fixed rates now averaging 4.55%. Incentives are the tax advantages to home ownership. And of course, there are prices. Prices are down from mid-decade highs, but in many, many markets are showing stability, slight declines or even increases. Home affordability remains near record levels and the price-to-value proposition in most markets is extremely compelling.

If you are interested in buying a home, you owe it to yourself to contact a real estate agent in the community you are interested in. Look at homes, do a rent vs. buy analysis, explore what is available in your price range.

Don’t just take my word for it. Do your homework.

You might just be surprised that the end of the world isn’t here yet … at least until next month’s report.

Nationwide Open House Weekend June 4-5

2011-06-02T08:35:00.000-07:00

In celebration of National Open House weekend for Realtors, we are holding open 5037 Willow Vale Way in the upscale neighborhood of Laguna Woods in Elk Grove.

Saturday, June 4 from 11 am to 2 pm. Come visit us!

Sacrament Jazz Festival

2011-05-26T09:38:00.001-07:00

If you're looking for something fun to do this Memorial Day weekend, visit the Sacramento Jazz Festival. We have been to this every year for the past six years and it's always a good time.

For more info: http://www.sacjazz.com/

Should Congress Mandate 20% Down for Mortgage Loans?

2011-05-19T07:27:00.000-07:00

Congress is attempting to make it mandatory for all home buyers to put at least 20% down. Many argue that this will put the American dream of owning a home out of reach for most home buyers. The majority of our first-time buyers are all using the FHA loan product and putting only 3.5% down. Without this, many will have to wait years to save 20% down.

The flip side to this is that the most recent string of foreclosures and short sales are FHA buyers from 2008 and on who had little financial stake in their homes. These new FHA defaulters are further exacerbating an already fragile housing market with little chance in the near future of recovering. Congress has a point with the 20% down; however, I still think it would be a bad idea as homeownership brings so many positives for a family and its community.

For more information, visit: http://www.realtoractioncenter.com/

Yes, It Is Better to Own than Rent

2011-04-20T08:22:00.000-07:00

A while back I had a first-time buyer who had co-workers that owned homes and were telling her how horrible it was to own a home because of the repairs. And yes, once you own, there is no landlord to call when things break; however, home ownership goes well beyond repairs.

Owning a home is a lifestyle. It's putting down roots, a place to raise kids, make friends, and know your neighbors. It goes well beyond an investment or tax incentive. It's a space of your own to do as you please. Paint everyone room a different color, remodel, plant trees, put in a pool. And, most importantly, you won't have a landlord making "property condition inspections" or giving you notice to move.

Need a Laugh?

2011-04-07T08:37:00.000-07:00

Since real estate and life are sometimes too serious, here's a website for a good laugh. FunnyOrDie.com:
http://www.funnyordie.com/ has video spoofs with all our favorite comedians.

New Short Sale Website

2011-03-31T11:55:00.000-07:00

The California Association of Realtors has launched a new short sale website for consumers and Realtors. This site has a fantastic amount of information to help clear up the confusion associated with short sales. Information such as the foreclosure process, timely new topics, tools, the HAFA program. The site is easy to use and not overwhelming.

For more info, visit: http://www.shortsalescalifornia.org/

What's New in Elk Grove

2011-03-29T16:17:00.000-07:00

If you happen to live in Elk Grove as I do (and 150,000 other people), there is more going on than residents know about. You can find out new "happenings" on the City's website: http://www.elkgrovecity.org/community/announcements.asp

One fun thing my family likes to do is attend Elk Grove 1st Friday in Old Town. The shops all stay open late and with weather finally sunny, it's a great way to spend a Friday evening. Hope to see you there this April 1.

A Note to God App

2011-03-16T07:55:00.000-07:00

There is a young man, Allen Wright, who lives in our area who developed the app, A Note to God, where people could put there prayers into cyberspace. This young man now also needs our prayers as he is in the hospital after a hit and run accident this past Sunday. Let's help him out, download his app, and send a prayer his way.

For the full story, visit: http://www.sacbee.com

Today Full Page Ad in Sac Bee on Short Sales

2011-03-10T13:06:00.000-08:00

Today on page A11, the California Association of Realtors has published an advertisement on the difficulty of our housing marketing with regard to foreclosures and short sales. The ad states that nearly 30 percent of homeowners are underwater on their mortgage. That's a huge percentage which means this housing crisis isn't going anywhere in the near future. On top of that, those that try avoid foreclosure by doing a short sale, are only successful with three out of five short sales.

This "crazy market" seems to be our now normal market, and it's not for sissies!

Military Members Can Get Free Credit Scores

2011-03-03T07:20:00.000-08:00

Not only can military members and their spouses get free credit scores, but they can also get free tax advice, and a plethora of financial advice. All provided by the non-profit, FINRA Investor Education Foundation, which helps military members manage all aspects of their finances.

For more info, visit: http://www.saveandinvest.org/Military/index.htm

OPEN HOUSE Saturday, February 26 11-2 in Natomas

2011-02-25T12:01:00.000-08:00

3071 Tice Creek Way, Sacramento

Come join me for a tour of a great home in Natomas. This home features two masters bedrooms with on suite bathrooms and nearly 1200 square feet.

Directions:
I-5 North from downtown Sacramento, exit Arena Blvd. west, Left on Duckhorn, Left on Tourbrook, Right on Tice Creek. Home on right side on the street.

It's Okay to Shop Your Mortgage Loan

2011-02-25T07:49:00.000-08:00

According to the California Association of Realtors (C.A.R.), home buyers need not worry about impacting their credit score when shopping for the best rates and terms for a home loan. A buyer may have multiple credit checks from lenders within a consecutive 30-day window and not have it affect their score. With that in mind, shop away and get your best deal.

For more info, visit C.A.R.: http://www.car.org/

Beware of Loan Modification Scams -- 5 Tips

2011-02-22T07:41:00.000-08:00

If you are in the process of doing a loan modification or considering one, know this:
1) You can do it yourself; yes, it's tedious and time consuming, but it's also free
2) It's illegal for any loan modification company to charge you an upfront fee
3) Never transfer the title of your home to anyone
4) Never pay your loan payment to anyone but your lender/loan servicer
5) Never sign any documents without reading them first and if possible, have everything reviewed by an attorney

The source of these tips and for more information, contact the CA State Dept. of the Attorney General: http://ag.ca.gov/loanmod/

A Home for the On-the-Go Buyer

2011-02-18T14:06:00.000-08:00

This too, too cute home is located centrally in a fantastic part of Natomas and close to downtown, the airport, recreation, restaurants, parks, and all amenities. You will be so busy having fun in the middle of Sacramento that it'll leave no time to tend to a high-maintenance home, which this home is NOT. However, there is enough patio space for a BBQ or bistro table set. The interior has been kept immaculate and ready for new owners. Home has plenty of bright light and two master bedrooms. The community also features a club house, pool, huge park and walking friendly streets.

For more information: http://www.scottandkimsellhomes.com/

Valentine's Port and Chocolate Weekend in the Sacramento Delta

2011-02-12T09:21:00.000-08:00

For a really fun mini-vacation from Sacramento, visit the best kept secret of small wineries in the Delta region. This weekend is really special as the wineries are featuring their "Port and Chocolate" tastings for the below. See you there!

Bogle Winery
http://www.boglewinery.com/visitus_events.php

Scribner Bend Winery
http://www.scribnerbend.com/topics/annual-events/

Old Sugar Mill (Several wineries in a single location -- lots of fun!)
http://www.oldsugarmill.com/

Great Resource for Homeowners in Trouble

2011-02-08T13:16:00.000-08:00

The Neighbor Works Home Ownership Center in Sacramento provides a wealth of information via workshops for home owners in preforeclosure and foreclosure. They also offer help to first-time home buyers just navigating the process of home ownership.

For more info:
http://www.nwsac.org/workshops/

Is it bad that it's February 4 and we still have Christmas lights and candy canes in our front yard?

2011-02-04T15:27:00.000-08:00

For any of you who still have your Christmas decorations up, don't feel bad, so do we. Funny thing is, it doesn't bother me one bit. I like the festivity of lights any time of year. I'm thinking that maybe our neighbors don't quite agree. Sorry about that. Maybe we can get them down before Valentine's Day.

Gung Hay Fat Choy!

2011-02-03T08:37:00.000-08:00

Let's hope this Year of Rabbit is one that is calm, peaceful and full of lots of good luck. We are between years of the Tiger (2010) and Dragon (2012), so we need to enjoy this year of rabbit's tranquility. Money should come easy, but be careful not to be too indulgent.

Fantastic Laguna West Home Just Reduced

2011-01-31T10:45:00.000-08:00

I know it's too chilly to swim today, but in a few months, you will want this pool. This spacious, bright, fully upgraded and open home was just reduced today to $415K. Located in a gated community of desirable Laguna West and close to all amenities, including award winning schools, parks, recreation, community club, and much more.

For more info: http://www.postlets.com/res/4898018

Short Sale Closings are the Sweetest Sold Homes

2011-01-27T13:25:00.000-08:00

We are about to close this home, which is a short sale. As agents we work so hard to have the stars align that when one of these listings closes, it's such a fantastic feeling for both our accomplishment and the relief of our sellers. Most sellers do not make the decision to short sale their home easily, and many of our clients have revealed how difficult the decision can be. This is an Indymac/Onewest bank short sale approval and this has been our best bank and negotiator short sale experience to date, with hopefully many more to follow.

iphone App for Home Buyers

2011-01-24T15:29:00.000-08:00

To download: http://bhghome.com/iPhoneApp.aspx

Cheapest Home Listing in Galt

2011-01-21T15:09:00.000-08:00

This is a fantastic deal at $49,900 for a home with lots of potential. With some work this fixer would make a great first-time buyer home or investor rental. For more information: http://www.postlets.com/res/4996750

Foreclosures are Now the Normal Market

2011-01-19T12:02:00.000-08:00

I believe that the foreclosure crisis will continue through 2015 and maybe even beyond. This is our now normal market. I think the so called normal market of the past is gone for many years to come, unfortunately. And now the FHA loans with their low 3.5% down payments are the new 100% financing loans where buyers have little stake in the property. Watch for these buyers to start defaulting. The very sad part of all this is that many of these foreclosures (REOs) represent a family who has lost their home.

Getting Ready to Remodel?

2011-01-18T13:07:00.000-08:00

Or maybe just spruce up your living environment? There's a website, iphone app and ipad app that is a must, www.houzz.com. The ideas bursting from this site are endless. You can search by space, theme or metro area, and then add them to your "idea book" on their site via a free account. Warning, it's hard to leave this site. I got entranced into the bathroom section and couldn't leave.

Say Goodbye to the Mini Mansions

2011-01-15T08:16:00.000-08:00

Looks like home builders will start building smaller new homes in 2011, according to the National Association of Homebuilders. And it's about time. I always get a chuckle when I hear a first-time homebuying couple (no kids) say they need 3,000 plus square feet. Why so much space? Unless you are the Octomom with 14 kids, that is just a lot of space to clean and collect stuff.

Many of my friends and I (I'm 43) grew up in homes around 1,500 square feet and three plus/minus kids. I never felt while growing up that I needed more space. As much as my sisters annoyed me, it was nice having lots of people close together in the house. I always had my own room, so I could get away when needed.

Here's to going back to more manageable home sizes!

New Listing Shows Like a Model Home

2011-01-14T16:00:00.000-08:00

This open and bright floor plan features a fantastic chef's kitchen with plenty of space of family, friends and entertaining. Dramatic entry opens to formal living room and dining room and staircase with vaulted ceilings. Over 2,700 square feet, with 4 full bedroom, which includes one full bedroom and bathroom downstairs -- perfect for guests. Low maintenance backyard has a tropical theme.

For more info:
http://www.postlets.com/res/4960842

Get Organized this Saturday

2011-01-14T08:00:00.001-08:00

Join the National Association of Professional Organizers this Saturday, January 15 at IKEA in West Sacramento from 10 am to 2 pm for help on how to get organized. A free event!

For more info:
www.naposacramento.com

Mortgage Help for Unemployed Home Owners

2011-01-12T13:01:00.000-08:00

The recently enacted program, Keep Your Home California, now has funds available for home owners who are collecting unemployment benefits. Under the program, eligible home owners may receive up to $3,000 per month assistance for up to six months.

For more information:
http://keepyourhomecalifornia.com/qualify.aspx

Or call 888.954.5337

Help for Short Sale Home Sellers

2011-01-11T13:12:00.000-08:00

California Senate Bill 931, which became effective January 1, 2011, helps to relieve homeowners of a deficiency judgment on a 1st mortgage for a 1-4 unit residential dwelling. This is good news for homeowners who need to short sale their home but have put off the selling to avoid a deficiency judgment.

For more information, visit the California Association of Realtors website at http://www.car.org/

We Have Our New Signs

2011-01-05T15:12:00.000-08:00

We finally have our new Better Homes and Gardens home sale signs. Here's my lovely husband standing next to one:

New Listing: Gorgeous, Spacious and Lots of Natural Light

2011-01-04T14:36:00.000-08:00

Well maintained home with all the upgrades and plenty of natural light. This Lakeside home with over 4,000 square feet is located in a gated community and features a gourmet kitchen with gas cook top, double ovens, island, granite counters, walk-in pantry, desk area, breakfast nook/bar counter, and tile floors. Throughout home are designer paint, upgraded wood/carpet/tile flooring, including a mandarin staircase with wood steps. Also included is a loft area and spacious game room. Backyard has built-in pool and spa.

For more info: http://www.postlets.com/res/4898018

Great Condo for First Time Buyer or Investor

2010-10-29T13:17:00.000-07:00

This tucked away neighborhood is bordered by a creek and nature trails. Single family type living in a condo. Home features 4 bedroom, 2 full baths/1 half bath and 1,446 square feet. All this for only $114,999. If you are renting a home or apartment and paying over $600 a month..you could own instead!

See link for detailed info:
http://www.postlets.com/res/4634612

Welcome to Better Homes & Gardens Real Estate

2010-10-13T13:19:00.000-07:00

It's official...we are no longer Prudential and are now affiliated with Better Homes and Gardens Real Estate. Same great management, new flag. We are very excited about this change for our clients.

See video for more info:
http://link.brightcove.com/services/player/bcpid60997851001?bctid=73368344001

Lots of Space in Elk Grove for $250K

2010-09-17T10:33:00.000-07:00

Fantastic single story layout with all the space of a two story on a corner lot/court location. Home features huge great room concept with upgrades that include tile flooring, stainless steel appliances, double oven, subway tiles on back splash, formal dining room, den/office as potential 4th bedroom, jack & jill bathrooms, custom built-in storage unit in family room, and backyard patio cover. Spa included.

For more information: http://www.postlets.com/res/4408152

Nearly New El Dorado Hills Home for $433K

2010-09-17T10:22:00.000-07:00

Welcome to Blackstone, a master-planned community with a clubhouse, 3 pools and workout room. Enjoy a 2 years new home without the wait of building a new one. This $30K upgraded and well cared for home features a great room concept. Upgrades include granite counters, cherry wood cabinets, stainless steel appliances, distressed maple wide plank wood floors downstairs, berber carpets upstairs, tile in all bathrooms, solar electricity (bills average $45/month), & downstairs bedroom and full bath.

For more information: http://www.postlets.com/res/4408022

Beware Short Sale Negotiator Attorney Fees

2010-08-16T14:45:00.001-07:00

If you are contemplating using an attorney to negotiate your short sale instead of your Realtor, beware. These legal companies are popping up everywhere and they will charge you thousands of dollars to do what an experienced short sale negotiator Realtor will do for free. A Realtor is paid by their commission from the sale of the home and the home seller pays nothing. The seller's lender will pay the commission.

However, when a seller uses an attorney, they pay the attorney directly to negotiate the file. In my own experience as a Realtor who negotiates my client's short sales, attorneys do no better than an experienced Realtor. I have a short sale listing that my sellers paid $4,000 to an attorney to negotiate their short sale.

I believe having this attorney has actually hurt their negotiations. I have ended up telling my client what to tell the attorney to get the file properly negotiated. It's been a complete nightmare. Part of negotiation is letting the bank know the market. An attorney, even a real estate attorney, who is not in the trenches practicing real estate cannot understand the market better than an experienced Realtor.

Fantastic Well-Loved Home in Elk Grove $310K

2010-07-10T08:03:00.000-07:00

Not a short sale or REO.

Immaculate, well-loved and ready to move in home. One owner. Home features dramatic entry, wrought iron staircase and great room concept with separate formal living/dining areas. One bedroom and full bathroom downstairs. Kitchen features Corian counters, stainless steel appliances, island, gas cook top, eat-in dining and breakfast bar. Yard is tropical and low maintenance with stamped concrete and a side courtyard featuring a wrought iron gate and recently installed privacy fence.

Home has 2723 square feet, 4 bedroom and 3 full baths.

For more info:
http://www.postlets.com/res/4091838

Buyers Walking on a Short Sale -- Back on the Market Previously Approved

2010-05-21T11:42:00.000-07:00

Chances are if you're a buyer, you've put at least one offer on a short sale. It's not a fun offer. The process is long, tedious and seems like you will never have an answer. Except when you do. We just had the buyer walk after 90 days of waiting for a bank to give an approval. The buyers, to their credit, stuck in there nearly to the bitter end, but couldn't wait any longer due to their circumstances. Also, to their credit, they weren't making offers on other homes, then ended up renting.

Because of that, this great house at 9713 Tundra Swan Circle in Elk Grove's Stonelake neighborhood is now back on the market, having been approved at the list price of $235K just yesterday. Take a look. We -- fingers cross -- hope the next approval will be quicker. Banks are getting faster, more efficient, and more willing to help distressed sellers. An offer on a short sale is not as bad as it once was, especially for FHA buyers.

http://www.postlets.com/res/3385783

Too Late for the Tax Credit, Now Try a Short Sale

2010-05-08T08:26:00.000-07:00

This 3 bed/2 bath, 1404 square foot home is located in a private court in the established Laguna Springs neighborhood. Large eat-in kitchen and spacious living/formal dining room combination. Bright master bathroom with sky light. Backyard has a wood deck, mature landscaping and plenty of shade. Home is close to schools, greenbelt, parks and shopping.

More info:
http://www.postlets.com/res/3791251

Just in time for the Federal & CA Tax Credits

2010-04-23T13:30:00.000-07:00

This well maintained halfplex home in East Roseville is tucked away among single family homes. Home features a great room concept, master bedroom w/ sitting area & enclosed outdoor patio, & private back yard surrounded by mature trees. Includes a brand new heat pump & A/C unit worth $10K. Also features the following newer items: roof & covered rain gutters, linoleum in kitchen & bathroom, dishwasher, faucets, interior paint, & sprinkler system.

See link for additional information:
http://www.postlets.com/res/3723046

Distressed Homeowners, Want to Stay in Your House?

2010-04-14T15:12:00.000-07:00

Thanks to the government's "Making Home Affordable" program, there's a good chance you can stay in your home if you are distressed home owner. The program, Home Affordable Foreclosure Alternative (HAFA), has new voluntary guidelines to help home owners who want to stay in their home, stay, and stay affordably. Though these guidelines are voluntary, over 100 loan servicers have signed up for the program, representing 89% of current mortgage debt.

To Learn More about eligibility:
http://makinghomeaffordable.gov/

Why Rent when You Can OWN

2010-04-03T09:33:00.000-07:00

Just listed, 1, 2 and 3 bedroom condos in the heart of Elk Grove's Laguna area. These are located in the established neighborhood of Foulks Ranch and close to the greenbelt, parks, schools and shopping. Community complex is well maintained and includes pool, spa, fitness center, club house and child park. Each unit also includes a detached garage.

1 bed/ 1 bath 772 sf $85,000
http://www.postlets.com/res/2655256

2 bed/ 2 bath 1,039 sf $104,500
http://www.postlets.com/res/3617020

3 bed/ 2 bath 1,168 sf $120,000
http://www.postlets.com/res/2648744

Immaculate Stonelake Home $235K

2010-03-27T09:36:00.001-07:00

This home has is a short sale with one offer to the bank, but we are looking for backups....just in case. It's on a private street and has 3 bedrooms, a den/office and two bathrooms. At 1,728 square feet, there is plenty of room, but you won't spend all your weekends cleaning or doing yard work. Within the community of Stonelake there is a club house, pool, spa, tennis courts, basket ball courts, an elementary school and great parks. Also, closes to shopping and freeway access...but not too close.

See for yourself:
http://www.postlets.com/res/3385783

FHA Buyers Forget the Tax Credit, Go for this Short Sale

2010-03-23T14:02:00.000-07:00

I know all you FHA buyers out there are ignoring the short sales so that you can get the tax credit. However, I also know you are getting beat out by multiple offers, and those doing conventional loans or paying cash. Forget the credit and wait it out for a fabulous house. Here's your opportunity to own a home in the established neighborhood of Foulks Ranch in Elk Grove. A neighborhood of award winning schools, a greenbelt, multiple parks and amenities galore.

This home's layout cannot be beat -- it's open, airy and just waiting for your touches. It has 4 bedrooms, 3 full baths and 2291 square feet, with one bedroom/bathroom downstairs. Also, recently upgraded with a roof, air conditioner, heater, water heater and kitchen appliances.

Don't miss this house:
http://www.postlets.com/res/3551719

Mobile Home Just Reduced to $39,000

2010-03-19T13:48:00.001-07:00

There aren't many places you can own to live in for $39,000. Cars cost more than this! If you are 55+ and want to live in the most well-maintained mobile home park in the valley, then this is the one for you.

For property details:
http://sacramento.craigslist.org/reb/1651748589.html

New Listing 5430 Jacinto Ave, Sacramento

2010-03-17T09:47:00.000-07:00

New short sale listing -- ONE LOAN -- the best kind of short sale to put an offer in on.

Well maintained home in desirable neighborhood near the greenbelt, trails and schools. Home features lots of natural light, spacious and open living areas, vaulted ceilings, kitchen island, backyard patio cover and much more. Home has 3 bedrooms, 2.5 baths and 1435 square feet.

For details and photos, click link below:
http://www.postlets.com/res/3518482

Waiting for Loan Docs

2010-03-12T13:41:00.000-08:00

When you get toward the end of escrow, the last thing everyone is waiting for are the infamous buyer's loan docs. I call the lender, "where are the loan docs." Lender says, "they are at title." I call title, title says, "we don't have them." Buyer calls me, "where are my loan docs." And so the story goes with multiple calls to all concerned.

Loan docs arriving mean buyers are days away from owning a home, and a seller almost free of the home. But the endless hunt can be exhausting. Of course, once everyone signs -- buyer and seller -- then the "did the loan fund," game starts. Basically a repeat of the above. In the end, it's always the same, a closing of a deal...and a happy ending.

It's the Banks vs. the Banks

2010-03-01T09:05:00.000-08:00

Nearly all delays in a home sale closing escrow have to do with a bank causing a delay. The ironic part is that the typical seller in our area is a bank, who then fights with the buyer's lender, a bank.

I am in contract right now where a bank seller of a home took three weeks to respond to a low appraisal and in return, gave my buyer three extra business days to close escrow. The buyer's lender is now taking an additional nearly three weeks to close escrow. In the meantime, seller's listing agent and buyer's loan officer are having a not-so-nice spat via email over when this thing will close.

All the while, my buyer is left in limbo through no fault of her own. Banks on both sides I think forget sometimes that while they are pushing paper and crunching numbers that there are real humans on the other sides of these transactions.

New Year, New Market?

2010-01-02T10:21:00.000-08:00

Not bloody likely. The banks are still trickling in their foreclosed properties, plenty of home owners are still short selling and equity owners are still staying put. However, our median resale home prices have been inching up every so slightly, but still up. A definite positive sign. And with the extension of the first time buyer tax credit, which is also including move-up buyers, we still have plenty of buyers out there fighting for homes. Considering this has been our market for the last few years, this may be the new "normal" market.

Despite all this, it's still fun, exciting and rewarding to be part of this craziness.

Where's the "wave" of Foreclosures

2009-10-23T08:15:00.000-07:00

The "experts" have been predicting for some time now that there is a huge wave of foreclosed homes yet to hit the market. Each month, there is still no wave. It looks as if the banks are trickling in their properties slowly, which is keeping this a seller's market and buyers scrambling for homes.

Despite this trickle, I do know there are a lot foreclosed homes out there still needing to be sold. Two of my own short sale listings have crashed and burned and are now both owned by Bank of America. I Love B of A, the best real estate brokerage in the country. I'm really looking forward to the day when all banks do is take our money and lend it. Let's get them out of the business of real estate.

Finally Got an REO account

2009-08-23T10:32:00.000-07:00

We have joined the ranks of REO listing agents. I guess now we have to stop bashing them...well maybe not all of them. The best part about this is that we do NOT have to evict anyone. They are former apartments converted to condos and the people who are currently renting the foreclosed units will continue renting through their leases.

These condos are more proof that this whole foreclosure thing is not over. Our listing includes 39 units, which are being phased in 12 units at a time. We may be bouncing at the bottom of the market, but I think we'll be here until 2012. It will coincide with the Mayans "end of the world" prediction. Though hopefully, it will instead be the end of this crazy market.

Wanna buy a condo?

Top Ten REO Agents in Sac Region

2009-07-06T07:45:00.001-07:00

Today's front page of the Bee lists the Top Ten REO Agents in the Sacramento Region. With the exception of a couple of these agents, I HATE, I repeat HATE showing these agents' listings. It is near impossible to get someone on their "Team" to call you back. It's hard to even find out if your offer was ever received, until 5 days later when you get an email that says, "multiple offers, highest and best requested." At which point you give your highest and best, only to be beat out by the other 42 cash offers. Poor first-time buyers with FHA loans are delegated to short sales.

Okay, now I'm being a bit sarcastic and melodramatic, but all you non-REO agents representing buyers know exactly what I'm talking about. And all buyers, have heard all this repeatedly with each offer you put in by your Realtor.

Someday, the banks will no longer control every aspect of our market except to make loans. That will be a sweet day.

New Homes are Flying Off the Shelf

2009-06-07T08:35:00.001-07:00

Yesterday I went new home shopping with clients. The atmosphere at the new homes has changed 100% since this time last year. A year ago, agents in the offices were just happy to see a human. Now, thanks to the new home buyer credit of $10K and the potential $8K for first time buyers, all standing inventory in Elk Grove is sold and the agents are getting their high self-esteem attitudes back -- good for them, it's about time.

Some new home builder prices are still ridiculously high and they shall remain unnamed; however, many others are offering incredible deals with prices competitive to resale homes in the same neighborhood -- mainly foreclosed homes of those who bought in 2005 when lots were first sold.

Shoppers interested in the new home tax credit better hurry. It's expected to run out by mid-July. Nearly 75% of the money allocated for the credit has already been applied for in just 13 weeks of it being available. However, with very little standing inventory left and it taking approximately 5-6 months to build a home, buyers may have already missed the boat on the $10K tax credit.

Escrows are Taking Forever

2009-04-29T14:56:00.000-07:00

The days of the 30-day escrow are disappearing in my world. I just had an escrow go 62 days, the following a VA loan, went 52 days, and a current escrow is no where near closing at 30 days, which is this Friday. Loan docs anyone?

I used to take the 30-day escrow for granted. Now the rules for loans are changing on a daily basis making it very hard for even the most qualified buyers to close a loan in a timely manner. To top all this off, the very companies that make these loan are the same ones who have no tolerance for an escrow that goes over 30 days. Foreclosed homes owned by the banks start charging $100+ per day for an escrow going over its closing date. Short sale approvals will dock the Realtors' total commission a point if it goes over escrow. Yet, try asking these same banks to hurry up an escrow. Surely, you jest!

You think there would be a little empathy here. But no, banks are ruthless entities that don't care about Joe Home Buyer. You're just a FICO score to them. I'm pretty sure there's a special little Karmic Hell for the mean* ones when this is over.

Banks as a whole are mean; however, many loan officers are very, very nice and are not included in any of my lashing.

Give Homes as Gifts

2009-02-24T06:47:00.000-08:00

Seriously, the median home price in Sacramento County is now $165,000. That's back to 2001 levels, as it should be. Home prices at the peak and even a couple years prior started to outpace our incomes. Then to make up for that discrepancy in income, lenders started giving loans to anyone with a pulse, which is how we got in the mess we are in.

But now, our county's affordability is near 60% from a low of around 16%. Let's buy some homes and give them away as gifts. Of course, being a Realtor with a stated income, I don't qualify, but I bet a lot of you do.

After Christmas Real Estate Sale

2009-01-19T07:48:00.000-08:00

I've only been in residential real estate for three years (I was in commercial for three years prior), but I've noticed each January it's like an after Christmas sale for real estate. There's this rush to buy homes and everyone is out shopping. I thought maybe I'd have a chance to get some buyers into contract who keep getting beat out by multiple offers over asking price on homes, but no.

We are still getting beat out. These same clients are now offering well over asking price. We'll see if that works. Fingers crossed.

Real Estate Predictors are no Nostradamus

2009-01-05T09:16:00.001-08:00

While reading the Sacramento Bee's synopsis of real estate predictions over the past year, it was comical to see how positive everyone was. The Bee did an article showing each prediction and then what actually happened. Almost all of the predictors thought we would be out of this economic housing mess by early 2009 at the latest.

Well, we are no where near out of it. Let's see how this year's predictions go.

2008 was a Doozie in Real Estate

2009-01-01T09:38:00.001-08:00

For some reason, I stopped writing in my blog back in July. I'm not sure why -- lazy, the crazy market revealing the same things, I don't know.

Anyway, I'm back with a recap of 2008. All year long, those in the real estate business, kept saying we had hit the bottom. I said it too. Now those in the know are saying mid-2009 will be the bottom. I don't buy that either. I think due to higher unemployment and mortgages that will continue to reset, we are looking closer to 2012 for this whole mess to be over and back to a stable market. It's not a bad market, but it's definitely a sad market for those going into foreclosure due to job loss, adjustable rate loans, relocation and other hardships.

Of the listing appointments I go on, the majority are for short sales. Homeowners who are upside down on their mortgage and unable to make their payment due to some hardship. The stress and anguish these sellers go through can be unbearable. Many of these sellers shed tears during the appointment. It's heartbreaking. No one wants to lose their home. It's a family's one safe place and when you lose that safe place, the bottom falls out of your world. I can only imagine how hard that must be.

I really want to see the end of the market, but not only because I'd like to make a better living, but because it's just so sad. This sadness trickles down just as our "boom market" trickled up.

Here's to a new beginning in 2009.

The Bottom of the Market

2008-07-27T12:32:00.000-07:00

Industry experts are starting to speculate whether we are at the bottom of the housing market. These same experts also say that we won't know for sure when the bottom of the market is until 6 months after it bottoms out. However, I'm sensing we are getting close. And by close I'm guessing next spring. For the first week in well over a year I have noticed that the "Notice of Defaults" for Sacramento County has dropped from the 500-600 range to the 200-300 range, and that's good news.

We still have issues with people qualifying for loans, but word is getting out that to get a house, you need to save money and fix your credit. Those buyers who are serious and have been saving money, will soon be poised to get a great deal on a home. Call me :0)!

It's a Seller's Market?

2008-06-20T12:17:00.000-07:00

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?

2008-06-01T08:20:00.000-07:00

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

Losing a Home is More Than Just a Crazy Loan

2008-05-13T12:53:00.001-07:00

In the past couple of months I am meeting more and more homeowners who are on the verge of foreclosure and it has nothing do with adjustable loans. These are people who are unable to make the payment on their 30-year-fixed mortgages. These are people who are finding themselves in tough times, many of which have lost their jobs and are unable to get new ones. Our economy is worse than the we think.

It is heartbreaking for a Realtor to see a client lose a home you represented them in buying. You remember that exciting day of handing them over the keys, never once thinking that they could lose that home in the future. But, now you end up trying to help them lessen the blow to their credit and offer to try to sell it before the bank takes it back. There really is no silver lining in losing your home. Just another of life's crappy lessons.

I'm really looking forward to our Sacramento Region getting out of this foreclosure mess and back to a nice stable housing market.

We're Back to Multiple Offers

2008-04-17T09:18:00.001-07:00

The real estate frenzy of multiple offers in the Sacramento Region is back, just as it was at the height of the market a few years, only now it's at the opposite end of the spectrum. We have plenty of inventory; however, the homes priced really well are getting multiple offers the first day on the market.

I was out showing homes in Elk Grove in the $210-240k range. There are a lot of buyers in this price range. After looking at several homes last weekend that all had multiple offers on them, I told this particular client that we needed to jump on a home the day it came on the market. So that's what we were doing, but we weren't alone. The first house we went to, which was new on the market that day, had buyers inside the house, we were next and as we were waiting, more buyers showed up. That house was pending by the next morning. Same thing happened at the second house we went to, which was also new on the market that day.

The days of waiting a few days to weeks to make an offer on a home -- that is priced well -- are over. Homes are flying off the shelf. I'm not sure if we're at the bottom of the market yet, but if you're on the fence, now is the time to get off.

Today's Housing Market is Different From Tomorrow's

2008-03-20T15:05:00.000-07:00

And by tomorrow, I literally mean Friday, today is Thursday. This was brought to my attention so clearly today while I was researching the potential value of a plot of land in Nevada for a client. The real estate agent I spoke to said, "I will call you back with a rough of estimate of what it's worth today, NOT TOMORROW." I truly understood where she was coming from.

This market is changing faster than I can blog about how much it's changing. What was a competitive price on Tuesday is increasingly much different by the weekend. It's crazy, but also a bit fun to watch all this happen daily. Before the fall of 2005, you could price a home a bit higher than the last comparative home sold and be safe and probably get multiple offers. Today, you try and price it a bit lower than the last comp. But sometimes that doesn't even work. There's where the fun lies. As Realtors our job requires much more of a pulse on the market than in the previous few years. A Realtor needs to be extremely informed and technically savvy to survive in this market. Of course . . . this could all change tomorrow.

Selling Your Home in a Buyer's Market

2008-03-01T08:36:00.000-08:00

With all the negative press geared toward home sellers in the Sacramento Region, it's amazing anyone who doesn't have to absolutely sell would even think of putting their home up for sale. However, if you have some equity and are looking to move up into a bigger home, better neighborhood, etc., then it's an excellent time to sell. Yes, you will likely take it in the shorts when you sell your home; however, chances are you will more than make up for it in your new home.

One stumbling block home sellers have is whatever the highest price they could have ever received for their home at one time (probably over two years ago). This price is stuck in their mind that they have lost that much money on their home. If you bought your home 5 years ago, you probably have not lost money. Say in 2003, you paid $200K for your house and in the fall of 2005 your neighbors sold their home for $380K. Now your home is worth $280K. You have actual equity of $80K, not a loss of $180K. Those buyers who actually bought at the height of the market around the fall of 2005, have lost real dollars. My husband and I happen to be one of those buyers, we are $160K in the red; however, we plan to be in our home for many more years since our home represents our quality of life in a neighborhood we enjoy and not a day trader stock.

It's a great time to buy. Home prices are so affordable -- for many people. Home buyers are buying homes they thought they could never afford. So, if you want that move up home or better school district, go for it and put your home up for sale at a great price. You might be surprised.

House Worthy Credit

2008-02-26T09:11:00.001-08:00

For those of you who are thinking about buying a home, whether it be in the next month or next year, there are several things you can do to raise your credit score and keep it in good standing. With the stricter guidelines for home loans, thanks to all the foreclosures from subprime loans, good credit is a necessity in buying a home today.

Tips to get your loan approved for good credit:

Do not buy anything on credit -- not a car, couch or even a toothbrush; if you open new credit cards, keep the balances low and pay them on time; any credit cards you currently have, try to pay off as much of the balance as you can
Do not let anyone check your credit, unless it is for a home loan and keep that to three companies -- each time your credit is checked your credit score, which can be anywhere from 350 to 850, gets points deducted from it; when shopping for a mortgage loan, you only get dinged once, but it must be in a timely time frame
Contact a mortgage lender as soon as possible -- you may think just because you won't be buying for a year that it's not necessary; however, a lender will advise you on how to raise your credit, as well as ways to fix any negative credit you may have
Register on https://www.optoutprescreen.com/ -- once registered on this website, offers for credit will stop coming to you and will help raise your credit a few points since you won't be tempted to open new lines of credit; once you own a home you can "opt" back in and get offers again, if you choose
Check your credit report -- you may check your credit once a year for free and be able to make sure everything is correct and if not, to take corrective action
SAVE MONEY -- the 100% financed loans are going away quickly; this is not to say they won't come back someday, but for the current and near future -- with the exception of some first-time buyer programs -- they are leaving; lenders will want to see at least two months of reserves in your savings to pay your mortgage should you lose your job or some other financial hardship, as well as money to put down on a home, which is a minimum of 3% of the purchase price of the home; also, owning a home costs a lot more than renting with regard to maintenance, taxes, etc...but the reward is much greater than any home you could rent

For more information, contact your bank or mortgage lender of choice.

It's a House Feeding Frenzy

2008-01-29T13:18:00.000-08:00

Despite all the doom and gloom regarding the housing market in the news, I'm seeing a strong comeback. I was out showing homes in Elk Grove zip code 95757 last Saturday and there were homes buyers and real estate agents all over the area. Everywhere we went we were all bumping into each other.

I have a few clients who have even lost out on homes before they could even make an offer. The smart banks are starting to list their foreclosed homes around the $100 per square foot mark. One home some clients missed out on was a 3-year-old home listed for $103 a square foot. Before we could even make an offer it went pending with 12 offers and going for more than asking price.

So, ignore the media...the Sacramento Region housing market is coming back and you won't know we hit the bottom until about 6 months later.

Staging Your Home to Sell

2008-01-13T14:28:00.000-08:00

Many factors are combined for a successful home sale: competitive sale price, well-kept home, marketing, excellent property photos, curb appeal, desirable location and lastly, good staging.

Good staging consists of the following (for additional tips, go to http://www.hgtv.com/ and search "staging"):

Remove clutter
You may love your salt and pepper collection, but buyers won't. Make your home look like a model home and be sure to have at least 50% of space on everything. This includes closets, shelves, the garage. If buyers see stuff crammed everywhere they will unconsciously think there's not enough room for their stuff. Rent a storage unit or two.
Take down your family photos
All those photos of junior are adorable, but it will distract buyers and take their focus off of your home.
Clean inside and out
I know this seems obvious, but I can't tell you how many homes I show where there are dirty dishes in the sink, crumbs on the floor, yucky litter boxes, Fido "droppings" on the lawn...you get the picture.
Hide the toys
Get a toy box and use it. Whatever doesn't fit in the toy box, goes in storage. Make it look like the adults own the home, not the kids.
Remove unnecessary furniture
Although it may be useful for your family to have a couch, love seat and Dad's favorite recliner, it is probably making your living room small. The less furniture, the bigger your house looks. This goes ditto for huge bedroom furniture -- unless, of course, you have a 1200 square foot master suite. Be sure there is ample space for a family to tour your home and not have to squeeze between furniture pieces to move around.
Put away the exercise equipment
You're probably not using it anyway, except to hang clothing, so for the sale of your home, put it away. The only time this is okay, is when you have a room that is specifically being used as a workout room.
Hire a professional home stager
Professional staging has become a booming business and can really help in the quick and profitable sale of a home, particularly in a challenging home selling market. To find a home stager in your area, visit www.stagedhomes.com/

2008 is the Year to Get Off the Fence

2008-01-06T08:52:00.000-08:00

Since the day after Christmas, my phone has been ringing off the hook with clients -- both new and long-time fence sitters -- who are getting ready to purchase a home. It looks like buyers are starting to figure out that we may be close to rock bottom. Of course, no one really knows we've hit rock bottom until about six months afterwards.

Our well-priced listings are getting lots of showings and I can just feel the offers coming in. This is the year to buy a home. If you're a buyer waiting for the right moment, this is it. Get out there, shop and make offers. In my opinion, we won't see a year like this for a long time.

Boycott Companies that Advertise Christmas Before Thanksgiving

2007-11-12T08:09:00.000-08:00

Okay, so this has nothing to do with real estate, but I must vent. I have started keeping a list of all retailers I'm boycotting that have started advertising Christmas before Thanksgiving. It's gotten so out of control.

So as not to find myself in a lawsuit, I will not mention the companies, but you know who you are. Of course, at this rate, I will be left shopping at gas stations for Christmas presents, as the list of these retailers is getting quite long.

In a couple years, we will start seeing Christmas stuff in the stores at the Fourth of July. Then ultimately, Christmas stuff will be around all year long just so we don't forget the biggest shopping season and keep the retailers in their profit margins.

Mercury Retrograde's Effect on Real Estate

2007-10-21T08:46:00.000-07:00

What the heck is Mercury retrograde and what could it possibly have to do with real estate? A lot!

Mercury Retrograde is when the planet Mercury starts to go in a backward motion. This happens approximately three times a year for a 3 to 4 week period. We are currently in one of these periods and the havoc wreaked is real -- even if you don't believe in astrology. This retrograde started on October 12 and ends November 1. The planet Mercury rules communication and transportation. Therefore, it is not a good time to start anything new, such as a contract, job, etc. It is also a bad time for travel and buying anything expensive, especially electronics.

During this time, real estate transactions will fall out of escrow, communications will break down, and people will have disagreements. If you happen to have homes in contract, be especially diligent about communication with all parties and expect delays.

Despite Mercury Retrograde's negative aspects, there are some positive ones too. This period is a great time to "re" do anything. Reconnect with old friends, redo your closet, restart your workout routine, etc.

For more information on this subject, visit Susan Miller's Astrology Zone website:
http://www.astrologyzone.com/forecasts/mercury.html

Pricing a Home to Sell

2007-10-16T06:35:00.001-07:00

In this current market of craziness, the proper pricing of a home has become an insurmountable challenge with Sellers. Our boom market gave home owners a mentality of what their home was worth at the height of the market in 2005 and Sellers just can't get whatever that price was out of their heads. The price of what a home would sell for is easy when looking at the facts, but convincing a Seller of that price is quite difficult.

An article in Inman news by Bernice Ross, which is directed at agents, but is also great advice for home Sellers outlines pricing strategies. See http://www.inman.com/content/story.aspx?ID=64177. The four points the article makes include the following:
1) Price a home below what recent comparable homes sold for to be competitive; no buyer wants to pay more for a home than is necessary
2) Don't try to test the market; test the market and you're just looking at wasted time and a price reduction in the near future
3) When reducing your home price, make a serious price reduction that will make a difference in the potential pool of buyers looking for a home; buyers search for homes based on price ranges, so if your home is listed for $475K and you reduce it to $470K, you haven't added a single new buyer to see your home -- however, if you lower your price to $450K, you just increased your pool of buyers for all those whose price maximum is $450K
4) What's your motivation to sell your home; do you "need" to sell or do you "want" to sell -- the longer your home sits on the market when priced improperly the more money you lose as homes values decline

Overpricing a Home for Negotiating

2007-09-25T08:52:00.000-07:00

There is a thought among home sellers that if they price their home a little high, it will leave room to negotiate down. Now while this strategy makes sense on paper, it completely backfires in our current buyer's market. Right now, if a home is priced too high, it's impossible to even get buyers in your home to negotiate.

A properly priced home will get buyers in the door and potential offers coming in. Homes are still selling in this market, obviously. However, what is selling is priced at market or below, in excellent condition or has some other outstanding feature such as location, school district, etc.

If you look at the statistics of homes selling, once a home is properly priced and sells, they majority are selling between 95% and 100%* or more of their asking price. So a seller doesn't necessarily have to come down much from a proper list price.

*A sale price of a home may include seller concessions for closing costs, which brings the actual purchase price down, usually at 3% of the purchase price.

Take a Picture, Sell a Home

2007-09-12T18:14:00.000-07:00

With the invention of the Internet, the process of buying a home went from the hands of the Realtor to the hands of the consumer. According the the National Association of Realtors, nearly 80% of homebuyers start their home search on the Internet. The Internet search is where pictures of a home for sale are so important. It's the photos -- and good photos -- that gets a potential buyer in your home.

When I'm researching homes for a buyer, if I come across a listing without pictures or just a single photo of the front of the home, I typically bypass that home for others with multiple pictures that give me a good sense of what that home has to offer. However, sometimes a home's photos do not do the home justice, and sometimes the opposite also occurs.

In our multiple listing service here in Sacramento, we are allowed to post 12 photos of a home. We always post 12 photos. Posting any less than 12 photos is not giving a Seller the full potential of marketing their home to other Realtors as well as the consumer.

So, if we list your home, get ready for your house to say "cheese" and pose for our camera!

For info on taking good property photos visit, http://realestate.msn.com/Selling/Article_wsj.aspx?cp-documentid=5414351

Using Feng Shui to Sell Your Home

2007-08-27T19:20:00.000-07:00

In addition to being a Realtor I am also a feng shui consultant. I no longer do consultations, but I do use the practice when applicable in my real estate business.

About three years ago when I was still working in commercial real estate, I did a "Feng Shui for Real Estate" presentation to a group of top producers for a local real estate company. At the time, the market was beyond good and homes were selling in days with multiple offers. Perhaps my presentation wasn't timely, in that my focus was using feng shui to sell homes, which didn't need help. One of the points I made was taking down family photos to help a future homebuyer picture themselves in the house. One agent commented that it wasn't necessary to do this. And yes, at the time it wasn't. However, I cautioned her that the market always changes and when it did she would have some knowledge of feng shui to give her an edge above the competition and help sell her listings based on feng shui. Wonder if that agent is using feng shui today?

Feng shui is finally getting a bit of respect. It was the subject of a Bee news article last week. Feng shui is amazing. It's gotten a bad rap as a new age fad based on religion. It is neither of those. Feng shui is the ancient Chinese art of placement. It's about creating harmony in your environment with your personal material items. When you walk into a home and you just want to get comfy and stay awhile, that home probably is using the fundamentals of feng shui and the owner may not even know it. However, when you walk into a home and you can't wait to leave, the opposite is happening.

There are many excellent books on feng shui, but the best starter book in my opinion is Karen Rauch Carter's book, "Move Your Stuff, Change Your Life." It's a quick read and the author has the best sense humor.

Showing Homes in Uncharted Territory

2007-08-15T09:05:00.000-07:00

Every real estate agent at one time or another ends up showing homes in an area they know very little about. Most of the time, it takes just a bit of homework to learn an area well and then be able to help a client make an informed decision about a home and its area.

On Monday and Tuesday of this week I became friendly with an area that wasn't just your normal suburban or city neighborhood, I was up in Placer and El Dorado Counties showing properties that even my GPS couldn't find. When I called one agent to ask about the road leading to a property in Placerville off Mosquito Road, she told me it was a "windy a** road" and she was not kidding. If you've never taken Mosquito Road into Swansboro County, the trip is a must. Many parts of the road go down to one lane, with hair pin turns and a one lane, very narrow bridge.

While the trip in was beyond nerve-wracking, by the time I was heading out, I actually had fun driving that crazy road. I'm not sure I'd like to drive it everyday, but the area is so breathtaking and beautiful out there, I can see why people do.

So, I have now added the foothill county communities of Placer and El Dorado to my repertoire of areas I'm familiar with and happy to tour. Seat belts required.

Good Restaurants in Elk Grove?

2007-07-31T19:17:00.000-07:00

I love Elk Grove; however, my main complaint about this city is the lack of good restaurants. This city is a chain restaurant mecca and while I enjoy a consistent meal from city to city, in my own town, I want variety and non-corporate owned restaurants. So with that in mind, here's a list of good restaurants in Elk Grove.

Elk Grove Brewery --- Elk Grove Boulevard
This is one of the city's gems restaurant-wise. The atmosphere is part brewery, part bar, part kid friendly. The food is absolutely delicious and each dish has its own special recipe. A must eat are the garlic fries. You will reek garlic for days, but they are so worth it. And must drinks are the seasonal beers, brewed right on the premises.

Vince's Italian Restaurant --- Elk Grove Florin Road
Walking into Vince's is like walking back in time...red checked table cloths and 1960's decor. You feel like you're at home here. Food is good and simple Italian with some excellent steak choices. Can't beat the price, number or courses or the carafe of house red.

Silva's Sheldon Inn --- Grant Line Road
If you're looking for a nice dinner of upscale dining and quality food and don't feel like driving into Sacramento, this is the place. It's tucked away just far enough on the outskirts of Elk Grove to make you feel like you've left the city.

La Fuente Mexican Restaurant --- E. Stockton Boulevard
Come here for good, authentic Mexican food. Start out with just the best thick tortilla chips and two types of hot salsa. All dishes are the real deal and will keep you full until the next day. Atmosphere is casual and the staff treats you like family.

Cassidy's Family Restaurant --- E. Stockton Boulevard
For a breakfast full of flavor, butter and rib-sticking power, come to Cassidy's. All breakfast favorites are here... biscuits and gravy, corned beef hash, steak and eggs, omelets, pancakes and good coffee.

So if you're thinking of opening a restaurant that is not a national chain, please come to Elk Grove. We need you and I will frequent your business.

If the Price is Too Good, it's a Short Sale

2007-07-18T15:36:00.000-07:00

On a weekly, sometimes daily, basis, I will have a client forward me an email listing of a beautiful home with an incredible, way below market value price. I know immediately that it's a short sale. The short sale speech is one I've gotten quite good at, but it still takes a few times of explaining it or actually living it, for it to sink in.

A way below market price on a short sale home is likely not approved by the bank. It's deceptive marketing just to get buyers in the door and offers to the bank. I'm not saying all agents of short sales do this. Many agents actually do price them competitively within market value. I understand where an agent is coming from in pricing a home low and I truly feel sympathetic for the sellers who are in the predicament of a short sale, but it's still unfair to deceive the public.

If a client is brave enough to make an offer on a short sale, then I have to sound like Ms. doom and gloom explaining in realistic terms that they will not hear back from the bank for at least two months. I have clients who have personally experienced this wait and now believe me. One couple who put on offer on a short sale last December, got impatient and are now living in a home they bought in March, and have still not heard back from the bank.

However, I'm now hearing from agents who are doing short sales that supposedly banks are being more cooperative now that their books are getting inundated with foreclosures. I hope that's true. I have another offer on a short sale for a client. We have been waiting since May 15 for an answer. This client really, really wants this house, so we are holding tight. His is the only offer on the house and there is a true hardship for the sellers, so I'm hopeful.

If a client wants to pursue a short sale, I will do everything I can to get them in contract with the bank. But I will do it only after discussing all the necessary pitfalls and patience needed as well as the potential opportunity to get a great deal on a home and save a seller from foreclosure. I will always hope for the latter.

The Excitement of That First Home

2007-07-16T11:45:00.000-07:00

I love first-time home buyers. Yes, there is a lot of hand holding, but there is so much satisfaction in my job as a Realtor to help a client buy their first home. It is exciting and scary all at the same time.

I'm currently negotiating a home for a twenty-something newlywed couple who are first-time buyers. They are very stressed out, but also so excited. They were like two kids in a candy store when they realized they had found their first home. They were visualizing where their dining table and computer would go, checking the different angles on the TV while sitting on the couch, and playing with the stereo for its surround sound loudness. And I was getting excited right there with them. You can't help but smile.

I can remember so vividly -- even though it was 8 years ago -- when I bought my first home. The worry over the mortgage payment, the sleepless nights, the nausea, the stress, while at the same time being so excited about finally getting to own a home. To be able to paint walls, put up curtains, plant a garden . . . all without asking a landlord's permission. I'm in my third home now and it's still a thrill, but nothing matches that first home experience.

Pending, Pending, Sold!

2007-07-06T17:00:00.000-07:00

A strange thing has happened in my real estate home tours these past two weeks. I will show homes, the clients will like one or more, I check with the agents, and all of a sudden they are pending. This hasn't happened on just one home, but nearly 10 homes from all over the area in cities such as Carmichael, Fair Oaks, Natomas and Elk Grove. It's like there's been a slight change in the market where homes that are priced competitively and in good condition are selling quickly, which is always the case, but more evident recently.

The Buyer's market mentality has some buyers thinking they have plenty of time to act on a good deal of a home, when in reality, the best ones are still selling quick and many with multiple offers by those buyers who do not hesitate to make an offer on a home.

I previewed a dozen homes today for a client, by the time I got back, one of them was already pending. It's weeks likes these that keep us agents even more aware of how dynamic the market is and how important it is to be one step ahead of the market.