Folsom Lake Area Real Estate - Christina Pilgrim

50 Corridor Economic Outlook Friday, November 21st

Christina Pilgrim (Weichert Pacific Equity Properties) — Wed, 12 Nov 2008 07:44:45 -0600

50 Corridor Economic Outlook Friday, November 21st 8:00-11:30am Folsom Lake College Tickets are $30 for members $40 for non members (includes continental breakfast)

Presented by the Folsom Economic Development Corporation, the Folsom Chamber of Commerce and the North State Building Industry Association, this summit will feature area leaders representing corridor areas stretching from Rancho Cordova to El Dorado County, as well as discussions by experts in residential, retail, commercial and industrial developments.

Nationally acclaimed business forecaster, Robert Treadway, will be the keynote speaker. Other featured speakers and panelists will include:

Key Project Presentations From Each Jurisdiction:

Kerry Miller, Folsom City Manager
Curt Haven, Rancho Cordova Economic Development Director
Sam Driggers, El Dorado County Economic Development Director

Commercial, Residential, Industrial and Retail Marketplace of the 50 Corridor:

Barbara Hayes, Executive Director, Sacramento Area Commerce and Trade Organization
Robert Dean, Executive Vice President, Area Manager-Pacific Northwest, Grubb and Ellis
Ron Greenwood, Lyon Real Estate, Board Member Sacramento Association of Realtors.

To reserve your seat, please contact the Folsom Chamber of Commerce at (916) 985-2698 or go online to register. This summit is held in conjunction with the Highway 50 Corridor Chambers in El Dorado Hills, Rancho Cordova, Shingle Springs/Cameron Park and El Dorado County.

Folsom's Ice Rink

Christina Pilgrim (Weichert Pacific Equity Properties) — Mon, 10 Nov 2008 07:52:50 -0600

It's new. It's smooth. It's positively COOL! The Folsom Tourism Bureau, Folsom Chamber of Commerce, City of Folsom and the Folsom Historic District Association have partnered together to bring ice skating to Historic Folsom for the holiday season. Bring your family and friends to Folsom to hit the ice and experience the thrill of ice skating with the back drop of holiday Sutter Street. In addition to the rink, there will be weekend entertainment and the Farmer's Wife Christmas Tree lot. Dates/Hours of OperationThe ice rink will be open: November 21st through January 19th 10:00am - 9:30pm daily (including Thanksgiving Day) 10:00am-4:00pm on Christmas Day Cost Adults $8 plus $2 skate rental Children/Seniors (12 and under and 62+) $5 plus $2 skate rental Sessions are two hours. Group Rates Skate rental is free for parties of 15 or more, if reserved in advance. Reservations are available November and December, Monday through Friday, 10:00am to 5:00pm; group rates are available anytime in January. Group rates are NOT available between December 20 and January 4.

El Dorado WCR

Christina Pilgrim (Weichert Pacific Equity Properties) — Wed, 15 Oct 2008 08:23:45 -0500

Joe Luchi, Director

Intergovernmental Affairs and Economic Development

City of Folsom

"Updating Projects in Folsom"

October 17, 2008

11:00AM - 1:00PM

Cameron Park Country Club

$20 Member / $25 Non-Member Guest

Agenda:

11:00am - Networking

11:30am - Lunch

Top Things to Look for When Buying a House

Christina Pilgrim (Weichert Pacific Equity Properties) — Thu, 19 Jun 2008 07:39:28 -0500

Are you looking for a new of resale home? Are you finding it difficult to decide which you should purchase? Here are some of the benefits of each type before you are ready to make your decision:

Resale Home:

•§ If you like developed landscaping and lush natural surroundings and don't want to have to have to establish them, a resale home may be the right choice for you.

•§ If you want to know the character and history of the potential neighborhood and want to associate yourself with its identity, then you may want to choose a resale home in a location that allows you to do that.

•§ If you want to know your potential neighbors before you move in and not worry about surprises like a shopping mall or restaurant next to your new home.

New Home:

•§ If you like the experience of a fresh start and enjoy fostering relationships with other new home buyers, a new home may be the right choice for you. Families, who buy a new home in a particular area are at a common level, facing similar challenges and life-changing situations, which draws them together into a community.

•§ If you are concerned about electricity consumption and want a more energy-efficient home, you may want to choose a new home because of the technological improvements to heating and cooling systems, insulation, construction technology etc.

The U.S. Census Bureau's 1991 American Housing Survey suggests that operating costs per house are lowest for brand-new homes, slightly higher for relatively new existing homes but lower on average for older existing homes. Measured per square foot of living space, however, operating costs are consistently higher for progressively older existing homes.

Allow me to help you in your journey to find the perfect home. Please call or email me to get started on this new frontier.

Buyer check list! Are you ready?

Christina Pilgrim (Weichert Pacific Equity Properties) — Thu, 29 May 2008 23:54:46 -0500

Buying a home can be a daunting task. Below I have provided a checklist you can either simply scan or print out to help you along the property path.

HOME BUYING CHECKLIST
	Be an informed buyer. There are numerous resources available to your through the Internet. In addition I have many reports and resources at my disposal.Doing the research in advance can save you needless anxiety.
	Consider getting a copy of your credit report before beginning the loan process. Assess and understand your financial freedoms and restraints as soon as possible.
	Begin the application process by getting prequalified and preapproved by a Mortgage Lender. Do this first. Your Agent will need your mortgage qualification, and it will significantly strengthen your offer when you find a home.
	Make sure to solidify your housing budget before you move. This will help to ensure you don't overspend and are not susceptible to unforeseen costs.
	Research how long it takes to buy a home from start to finish.If you do not time it properly, you could find yourself sleeping on a floor or in a guest bed somewhere.
	Make sure you find a real estate agent you can trust.Luckily this part is already done for you. I just happen to be a trusted real estate agent in your area.
	Begin assessing your needs and wants in a new home.Plan this out and tie it to your budget.This will help you eliminate homes from your search, saving you time.
	Familiarize yourself with the types of housing available (i.e. single family, townhouse, condo, etc.).
	Depending on whether you'll be buying or building a home, investigate the ramifications of each decision and which is the best option for you.
	Arrange for home inspection. Protect yourself and do not skip this step!
	Learn about home warranties and what they cover.
	Compare and secure homeowners insurance.
	Arrange to meet with a closing agent or attorney.
	Make moving plans. If you plan to use a moving company, make sure to reserve time for comparisons between moving companies.
	Secure final loan approval and commitment from the lending institution. If you have done your "up-front" work, this should be one of your easiest steps.
	Do a final walk-through of the house.

Now move to your new home and enjoy!

Hopefully this checklist will help to keep you on track and steer you through the home buying process. I'm here to help you in all aspects of this process.Please give me a call or send me an email to schedule a time to meet.If you have any immediate concerns please don't hesitate to ask.

NABPOP

Christina Pilgrim (Weichert Pacific Equity Properties) — Tue, 20 May 2008 15:34:44 -0500

Anyone belong to Nation Association of BPO Professionals? Opinion on benefits?

Thanks.

Changing Market?

Christina Pilgrim (Weichert Pacific Equity Properties) — Wed, 14 May 2008 17:16:57 -0500

I am hearing and seeing so many conflicting signs in our market. I was (half joking with) one of my Buyers last week that I think the best time to buy was between December 2007 and February 2008. It is amazing how the market has changed in the past months. Since about February or March, we have seen multiple offers, and properties go pending sale in just 3 days!! Yet I believe we still have 2 more waves of ajustables tha will reset bring yet more foreclosures. At least for now we are seeing homes sell quickly in many Sacraento areas, especially those under $300,000 (many going above asking price). Buyers, it may not get better than this. Where will interest rates be in a year?

See the below article byCYRIL MOULLE-BERTEAUX as seen in the May 6th edition of the Wall Street Journal (www.wsj.com)

The dire headlines coming fast and furious in the financial and popular press suggest that the housing crisis

is intensifying. Yet it is very likely that April 2008 will mark the bottom of the U.S. housing market. Yes, the

housing market is bottoming right now.

How can this be? For starters, a bottom does not mean that prices are about to return to the heady days of

2005. That probably won't happen for another 15 years. It just means that the trend is no longer getting

worse, which is the critical factor.

Most people forget that the current housing bust is nearly three years old. Home sales peaked in July 2005.

New home sales are down a staggering 63% from peak levels of 1.4 million. Housing starts have fallen more

than 50% and, adjusted for population growth, are back to the trough levels of 1982.

Furthermore, residential construction is close to 15-year lows at 3.8% of GDP; by the fourth quarter of this

year, it will probably hit the lowest level ever. So what's going to stop the housing decline? Very simply, the

same thing that caused the bust: affordability.

The boom made housing unaffordable for many American families, especially first-time home buyers. During

the 1990s and early 2000s, it took 19% of average monthly income to service a conforming mortgage on the

average home purchased. By 2005 and 2006, it was absorbing 25% of monthly income. For first time buyers,

it went from 29% of income to 37%. That just proved to be too much.

Prices got so high that people who intended to actually live in the houses they purchased (as opposed to

speculators) stopped buying. This caused the bubble to burst. Since then, house prices have fallen 10%-

15%, while incomes have kept growing (albeit more slowly recently) and mortgage rates have come down 70

basis points from their highs. As a result, it now takes 19% of monthly income for the average home buyer,

and 31% of monthly income for the first-time home buyer, to purchase a house. In other words, homes on

average are back to being as affordable as during the best of times in the 1990s. Numerous households that

had been priced out of the market can now afford to get in.

The next question is: Even if home sales pick up, how can home prices stop falling with so many houses

vacant and unsold? The flip but true answer: because they always do.

In the past five major housing market corrections (and there were some big ones, such as in the early 1980s

when home sales also fell by 50%-60% and prices fell 12%-15% in real terms), every time home sales

bottomed, the pace of house-price declines halved within one or two months.

The explanation is that by the time home sales stop declining, inventories of unsold homes have usually

already started falling in absolute terms and begin to peak out in "months of supply" terms. That's the case

right now: New home inventories peaked at 598,000 homes in July 2006, and stand at 482,000 homes as of

Is The Housing Crisis Over?

By CYRIL MOULLE-BERTEAUX as seen in the May 6th edition of the Wall Street Journal (www.wsj.com)

Is The Housing Crises Over?

the end of March. This inventory is equivalent to 11 months of supply, a 25-year high but it is similar to

1974, 1982 and 1991 levels, which saw a subsequent slowing in home-price declines within the next six

months.

Inventories are declining because construction activity has been falling for such a long time that home

completions are now just about undershooting new home sales. In a few months, completions of new

homes for sale could be undershooting new home sales by 50,000-100,000 annually.

Inventories will drop even faster to 400,000 or seven months of supply by the end of 2008. This shift in

inventories will have a significant impact on prices, although house prices won't stop falling entirely until

inventories reach five months of supply sometime in 2009. A five-month supply has historically signaled

tightness in the housing market.

Many pundits claim that house prices need to fall another 30% to bring them back in line with where

they've been historically. This is usually based on an analysis of house prices adjusted for inflation: Real

house prices are 30% above their 40-year, inflation-adjusted average, so they must fall 30%. This

simplistic analysis is appealing on the surface, but is flawed for a variety of reasons. Most importantly, it

neglects the fact that a great majority of Americans buy their houses with mortgages. And if one buys a

house with a mortgage, the most important factor in deciding what to pay for the house is how much of

one's income is required to be able to make the mortgage payments on the house. Today the rate on a 30-

year, fixed-rate mortgage is 5.7%. Back in 1981, the rate hit 18.5%. Comparing today's house prices to the

1970s or 1980s, when mortgage rates were stratospheric, is misguided and misleading.

This is all good news for the broader economy. The housing bust has been subtracting a full percentage

point from GDP for almost two years now, which is very large for a sector that represents less than 5% of

economic activity. When the rate of house-price declines halves, there will be a wholesale shift in markets'

perceptions. All of a sudden, the expected value of the collateral (i.e. houses) for much of the lending that

went on for the past decade will change. Right now, when valuing the collateral, market participants

including banks are extrapolating the current pace of house price declines for another two to three years;

this has a significant impact on the amount of delinquencies, foreclosures and credit losses that lenders

are expected to face.

More home sales and smaller price declines means fewer homeowners will be underwater on their

mortgages. They will thus have less incentive to walk away and opt for foreclosure.

A milder house-price decline scenario could lead to increases in the market value of a lot of the securitized

mortgages that have been responsible for $300 billion of write-downs in the past year. Even if write-backs

do not occur, stabilizing collateral values will have a huge impact on the markets' perception of risk related

to housing, the financial system, and the economy.

We are of course experiencing a serious housing bust, with serious economic consequences that are still

unfolding. The odds are that the reverberations will lead to subtrend growth for a couple of years.

Nonetheless, housing led us into this credit crisis and this recession. It is likely to lead us out. And that

process is underway, right now.

Mr. Moulle-Berteaux is managing partner of Traxis Partners LP, a hedge fund firm based in New York.

Short Sale vs. Foreclosure

Christina Pilgrim (Weichert Pacific Equity Properties) — Thu, 01 May 2008 16:09:07 -0500

Did you see the price on that house next door? He paid $400,000 for that two years ago and now the agent is asking $210,000 on a short sale.....What's a short sale?

In my opinion, a short sale is a long shot, or wishful thinking on the part of a desperate seller or determined Realtor. By definition, a short sale is the process of asking your existing lender to accept LESS than the full balance owed on the home. You are effectively "short" funds to pay the loan off.

The first question is, why would a lender even consider this type of agreement? Primarily to avoid the much longer more expensive foreclosure process on a home that is usually in default by the owner, or heading in that direction soon. If a home goes into foreclosure, the lender is at risk of the property becoming damaged, or losing elements of the home to theft. Additionally, the foreclosure process is slow and costly for the bank. Therefore, a short sale may be more acceptable to all involved. Sounds easy enough, but in reality, it does not happen very often. A majority of the lenders will NOT tell their homeowner or the listing agent how much "shortage" they are willing to accept up front. Instead, they keep everyone guessing about the discount the bank will accept. The banks will only respond to offers. Therefore, it is up to the listing agent to "guess" what price will attract an offer to the property. What is the best way to get an offer on a home? Drop the price below everyone else and become the lowest priced home on the street. Great! Now you have an offer on your home to submit to your bank for short sale approval. Typically a bank will take about 3-6 + weeks to respond to your offer. By this time most active buyers have moved on to find another home. If the buyer has waited patiently, they will typically find that their short sale offer is rejected or countered back to be something near the price every other home in the neighborhood was asking originally. Hence, you have a very frustrated buyer, seller & realtor, and now the rest of the neighborhood is mad at you for "bringing down" the value of their homes with your short sale listing. Keep in mind, If someone sees your home offered at $210,000 (short sale) and every other similar home offered at $300,000 +/-, you can be darn sure that prospective buyers in your neighborhood will be stuck on the $210,000 price for ALL of these homes. Despite the fact that your home will NEVER be sold for $210,000, this short sale offering has done some damage to the whole neighborhood value.

How does this compare to a BANK OWNED home?

Now we are in a much better position to get a good value. A bank owned home has already removed the previous homeowner. The home has been lost to foreclosure or some other means and now the bank owns the home outright. The price listed on this house has already been established by the bank as a price they will accept, often still lower than the neighboring homes that are not bank owned. Banks do not like to own vacant properties. They are costly to maintain and subject to vandalism and theft. Therefore, they are very often priced attractively right up front. Does this mean you can still "lowball" an offer to a bank? Sure, you can try. However, my experience lately has shown that the offering price on these homes is already a great deal and many bank owned homes will often receive multiple offers on them, many times above the banks asking price. If you find a bank owned home you like, at a price you can afford, don't play games, jump on it!

Most bank owned home will still participate in paying for closing costs or contribute to the Nehemiah program so you can get in for $0 out of pocket. This may require that you offer ABOVE asking price to insure that you beat all other offers and the bank ends up with a NET amount of money for which they are satisfied.

The NUMBER ONE (#1) key to success in buying ANY home? Pre-approved loan. When you have your pre-approval out of the way and there is NO question you can buy the home you are making an offer on, success will follow!

Jeff Tarbell

Managing Director

Comstock Mortgage

916-718-5171

Last Federal Reserve rate cut?

Christina Pilgrim (Weichert Pacific Equity Properties) — Thu, 01 May 2008 08:30:10 -0500

The Federal Reserve cut interest rates today .25%, for the seventh straight time since September of last year. This is the lowest federal funds rate since 2004. Many experts believe that the Fed is done cutting interest rates and will begin a new watch-and-wait policy. This new policy is due - in part - to the fact that the first Stimulus Act rebate checks are hitting millions of mailboxes this week. The Fed hopes this money gives a boost in the arm to the economy.

Grace Foundation Rescue in Somerset

Christina Pilgrim (Weichert Pacific Equity Properties) — Fri, 25 Apr 2008 08:30:21 -0500

Many of you may have seen on the news ( click here ) that yesterday we received almost

40 animals (more on the way today) that were part of a seizure in

Somerset.

This includes sheep, horses, llamas, a goat and a cow. Many are in very poor condition, and all will require hours of care, so we are sending out an S.O.S. to any of you that may be able to help us get through the next few days.

The good news is that the owner of these animals is allowing us to take all of her panels and shelter, and there are many of them. We will need to do this in the next couple of days, so we desperately need help dismantling and bringing the panels to the ranch. This will be a tremendous help to us not only during this seizure but in the future.

Our wonderful volunteer, Danny Villalobos has agreed to help us with this project, but it will take many of you to make this happen, so any help will be greatly appreciated. If you have a truck, tools and some time we would love to hear from you.

Saturday April 26, 2008 will be dedicated as a "work-day" at the ranch. Any assistance will be greatly appreciated.

We are also going to need all the help we can get at the ranch feeding, cleaning etc. If you can help during the day or evening please let us know. We will be putting together volunteer teams, and we would appreciate all the help we can get.

Lastly, I want to thank all of you that have pulled together in the last couple of days to make it possible to help these poor animals.

Never in my wildest dreams could I have ever imagined that we would be blessed with so many incredible people. Your hard work, love and passion is what will take us to the next level. To all of you... thank you from the bottom of my heart. We will make this happen!

If you are able to help please call the ranch at (916)941-0800 or my direct line (916)396-2768.

Thanks to all of you!

See you at the ranch!

Beth

(916) 941-0800
http://www.thegracefoundationofnorcal.org/

NEW U.S. MONTHLY HOUSE PRICE INDEX ESTIMATES 0.6 PERCENT PRICE INCREASE BETWEEN JANUARY AND FEBRUARY

Christina Pilgrim (Weichert Pacific Equity Properties) — Thu, 24 Apr 2008 16:43:19 -0500

NEW U.S. MONTHLY HOUSE PRICE INDEX ESTIMATES 0.6 PERCENT PRICE
INCREASE BETWEEN JANUARY AND FEBRUARY
WASHINGTON, DC - U.S. home prices rose approximately 0.6 percent on a seasonallyadjusted

basis between January and February, according to OFHEO's new monthly House

Price Index. For the 12 months ending in February, U.S. prices fell 2.4 percent. Since its

peak in April 2007, the index is down 3.1 percent.

The OFHEO monthly index is calculated using purchase prices of houses backing

mortgages that have been sold to or guaranteed by Fannie Mae or Freddie Mac. The

index, introduced in OFHEO's fourth quarter 2007 House Price Index (HPI) report,

provides a timely indicator of house price conditions for the nation and each of the nine

Census Divisions. For the nine Census Divisions, seasonally-adjusted monthly price

changes from January to February ranged from -0.6 percent in the Mountain Census

Division to 2.2 percent in the New England Division.

Changes in the national index, which is constructed as a weighted average of data from

the nine Census Divisions, reflect movements in market prices as well as changes in the

mix of geographic areas within Census Divisions. Normally changes in the mix are

relatively small. However, in February, the share of reported sales volumes rose in states

with stronger housing markets, which significantly increased estimated appreciation above

what it would have been in the absence of such effects. Holding the weights for each state

constant, the national increase would have been only 0.3 percent in February.

Monthly index values and appreciation rate estimates are provided in the table and graph

on the following pages. All estimates are seasonally adjusted and, as with OFHEO's

quarterly HPI, will be revised in later releases. As indicated in OFHEO's fourth quarter

2007 HPI report, quarterly HPI releases will include updated monthly data presented in the

same format as the attached table.

For detailed information concerning the new monthly HPI, please see the HPI Frequently

Asked Questions (FAQs), at http://www.ofheo.gov/hpi.aspx?Nav=60. The next release of

monthly index data will be included as part of OFHEO's next quarterly HPI, released May

22, 2008. That release will include quarterly index data through the first quarter of 2008

and will report monthly estimates through March.

Folsom Lake State Recreation Area General Plan

Christina Pilgrim (Weichert Pacific Equity Properties) — Wed, 16 Apr 2008 08:54:23 -0500

The California State Parks and Recreation is proposing changes to the Folsom Lake State Recreation Area General Plan.

The new changes will affect the current uses at the lake and the surrounding recreational areas. Some of the changes are as follows:

Expansion of the 5 mph speed limit zone on the North Arm of Folsom Lake and restriction of motorized aquatic activities on the North Arm of Folsom Lake.
Phasing out of gasoline engines on Lake Natoma.
Phasing out of the stables at Mississippi Bar.
Relocation and or elimination of existing bike paths in the Natoma Shore area.
Elimination of lake access and dock at Folsom Powerhouse SHP
Elimination of dry-boat storage at Browns Ravine and lack of provisions for additional parking at the marina.

Your input is necessary.

Please plan on attending a public meeting on Wednesday, April 16th from 7:00 - 9:00 pm at Lakeview Elementary School, 3371 Brittany Way El Dorado Hills.

Home Front: Sacramento credit union battles foreclosures

Christina Pilgrim (Weichert Pacific Equity Properties) — Thu, 27 Mar 2008 19:10:30 -0500

Home Front: Sacramento credit union battles foreclosures

By Jim Wasserman - jwasserman@sacbee.com

Published 12:00 am PDT Friday, March 21, 2008
Story appeared in BUSINESS section, Page D2

Print | E-Mail | Comments (24) |

While millions of Americans await their May "economic stimulus" checks promised by the federal government, a Sacramento-based credit union is rolling out a far more modest stimulus for some Californians.

It's a $20 million fund aimed at getting a very small number of foreclosed borrowers back into a home of their own.

"This is not just talking about the mortgage meltdown. We're trying to do something real," says Teresa Halleck, president and chief executive officer of Golden 1 Credit Union, the state's biggest with $6.7 billion in assets and 670,000 members.

Its "mortgage repair loan" fund offers 30-year, fixed-rate mortgages to Golden 1 members who lost their home to another lender within the past 18 months.

But it won't make a huge dent in the mortgage mess - Halleck estimates only about 50 to 75 borrowers will get these loans, which are for a maximum of $417,000.

Golden 1 didn't do the risky, subprime home loans that are now hobbling many lenders, Halleck said, which is why it's got some extra funds to help a limited number of Californians rejoin the ranks of homeowners.

So what does it take to get one of these loans? A job, a 20 percent down payment, debt counseling, full documentation of income and a credit score of at least 600. The house must be owner-occupied, too; this program is not for investors who lost a speculative property.

To qualify for a "mortgage repair" loan, you must meet all three criteria as a:

• Subprime borrower who got into so-called "negative amortization" loans, where the amount owed actually went up over time instead of down.

• Borrower with an adjustable-rate loan that became unaffordable when it reset to higher payments.

• Borrower whose prepayment penalties prevented refinancing.

For more information, call Golden 1 at (916) 732-2900.

Halleck acknowledges that $20 million won't go far. But she hopes it will generate "momentum" and spark other financial lenders, here and nationally, to offer similar mortgage help.

The route back to housing stability travels one household at a time.

30-year interest rate below 6%

If there is anything more volatile than the U.S. stock market these days, it has to be mortgage rates. Area mortgage brokers have taken to joking that today's rate depends on what time it is.

All this is to say that after several weeks of rising, rates fell sharply again this week to 5.87 percent for a 30-year, fixed-rate mortgage, according to government-backed mortgage giant Freddie Mac.

Interest rates are back below 6 percent for the first time in five weeks, returning to summer 2005 levels. Freddie Mac attributed the drop to the likelihood of more money becoming available for loans, which lowers borrowing costs. Last week, 30-year fixed loans averaged 6.13 percent.

Finance official honored

For more than 10 years. Theresa Parker has run a faceless state bureaucracy that helps people who aren't millionaires buy their first home in pricey California.

That's the California Housing Finance Agency, known to insiders by its clunky name CalHFA. The agency is an affordable housing bank, offering below-market financing through lenders to qualified households.

But enough about the agency. Parker won the 2008 National Public Service Award from two groups that rate bureaucratic excellence: the American Society for Public Administration and the National Academy of Public Administration.

The Sacramento-based housing chief was one of two award recipients who have "made a difference in public administration over a sustained period of time."

Parker's 33 years in public administration include stints with California's departments of finance and health and welfare.

Yuck, here's my kitchen

Hate your kitchen? You have company. Nearly six in 10 people hoping to remodel want to redo their kitchens, says a new consumer sentiment survey by Remodelingestimates.com, a Sunnyvale-based Web site.

That little nugget comes from a survey of 5,000 U.S. homeowners.

And since kitchens are usually the most expensive remodeling project in a home, the Web site adds this advice: Always budget 20 percent more than you anticipate the job will cost. No matter how carefully you plan, count on unexpected costs.

About the writer:
Call The Bee's Jim Wasserman, (916) 321-1102

FHA Temperarly raises maximum loan limits

Christina Pilgrim (Weichert Pacific Equity Properties) — Tue, 11 Mar 2008 07:43:55 -0500

FHA "TEMPERARLY" RAISES MAXIMUM LOAN LIMITS

Sacramento and Surrounding Counties to

$580,000 through calendar year 2008.

HUD SECRETARY: TENS OF THOUSANDS OF CALIFORNIANS COULD BENEFIT FROM HIGHER GOVERNMENT-INSURED MORTGAGE LIMITS
Congress must finish the job on FHA modernization bill so more families can keep their homes
Temporary loan limits part of Economic Stimulus Package

San Francisco - Tens of thousands of California families could benefit from affordable government-insured mortgages under a plan to be announced shortly that will temporarily increase home loan limits, U.S. Department of Housing and Urban Development Secretary Alphonso Jackson said today. Highlighting the Bush Administration's plans to help Americans keep their homes, Jackson said the President's economic growth package, which became law last month with wide bipartisan support, could allow more than 30,000 California families to be eligible over the next several months for safe, affordable mortgages insured by HUD's Federal Housing Administration (FHA).

"The plan raises FHA's loan limits, enabling more families to qualify for a safe, affordable FHA mortgage. This is critical for California, where most families are currently priced out of FHA loans. Because the FHA loan limits didn't reflect the housing market in California and other high-cost states, a vacuum was created that was filled by exotic subprime loans. We estimate that nearly 33,000 Californians will benefit over the next 18 months," Jackson said in speech to the Commonwealth Club of California.

This week, FHA will publish temporary loan limits that will range from $271,050 to $729,750. This increase will help provide economic stability to communities in California and give hundreds of thousands of homeowners and homebuyers throughout the country a safer, more affordable mortgage alternative. Loan limits will be set at 125 percent of the median sales price for the area. Currently, FHA loan limits are capped at $362,790.

However, these higher loan limits are temporary and expire at the end of 2008. President Bush and Jackson continue to call on Congress to pass a permanent bipartisan solution to help more families quality for FHA-insured mortgages, which allow low-income, minority and first-time homeowners access to prime-rate financing so they afford to purchase a home. While FHA has seen an increase in business in California, FHA modernization legislation still remains critically necessary. Legislation, which has been pending in Congress for two years, offers flexible downpayment requirements, permanent loan limits higher than the current amount of $362,790, and fairly-priced insurance premiums.

"FHA modernization could help a quarter of a million families this year alone. It passed the House and Senate in overwhelmingly bipartisan fashion. But a final bill has yet to cross the President's desk. Congress must act now," Jackson stressed.

Jackson also explained how the Bush Administration's aggressive efforts are keeping hundreds of thousands of families in their homes. The Secretary pointed to FHASecure, the refinancing arm of FHA, which has helped more than 100,000 homeowners refinance their mortgage since it was announced last fall. FHASecure includes homeowners who are current on their loan or past due because their teaser rates reset; some borrowers who owe more on their homes than they are worth; and those in the process of foreclosure. Families are saving an average of $400 a month compared to the cost of their previous exotic subprime loans. FHASecure is on pace to help 300,000 families by the end of 2008.

"FHA is back. And we're letting the American people know about it, sending letters out to 850,000 homeowners with resetting rates, including 54,000 Californians, who might qualify for FHA," Jackson added.

The HOPE NOW Alliance, representing 90 percent of the subprime market, has also responded to the Bush Administration's call for action and is helping homeowners in need of mortgage relief. Formed by Jackson and Treasury Secretary Henry Paulson, HOPE NOW has implemented a plan that makes more than one million people eligible to modify their home loans, refinance into FHASecure, or have their interest rates temporarily frozen. Recently, HOPE NOW introduced Project Lifeline, which makes thousands of at-risk borrowers eligible for a pause in the foreclosure process while servicers try to modify their loans.

"I am pleased by their actions...I see denial replaced with hope...And proof that foreclosure is not inevitable-that it is, in fact, preventable." Jackson said.

To stress the importance of housing counseling, Jackson pointed to studies that show homeowners in need of financial help responding more quickly to community and non-profit groups than to lenders and banks. Emphasizing the importance of financial literacy, Jackson said 96 percent of households that saw a HUD-approved counselor avoided foreclosure. The Bush Administration has increased funding for housing counseling by 150 percent since 2001. President Bush's new budget proposal would increase it by $65 million. Currently, HUD's non-profit partner NeighborWorks is distributing an additional $180 million in grants for foreclosure prevention counseling.

"More than half of all homeowners in foreclosure did not discuss it beforehand with their servicer or lender. We must change this attitude. With the help of our housing counselors, we are," Jackson concluded.

Visit http://www.hud.gov/news/speeches to read Jackson's full remarks at the Commonwealth Club.

HUD is the nation's housing agency committed to increasing sustainable homeownership, particularly among minorities; creating affordable housing opportunities for low-income Americans; and supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development, and enforces the nation's fair housing laws. More information about HUD and its programs is available on the Internet at http://www.hud.gov/ and espanol.hud.gov. For more information about FHA products, please visit http://www.fha.gov/.

Identity Theft Seminar

Christina Pilgrim (Weichert Pacific Equity Properties) — Mon, 25 Feb 2008 08:23:11 -0600

Next in our Wealth Building Series

• Arrested for someone else's crime

• Medical records stolen

• 100's of hours to correct problems

Christina Pilgrim IS HOSTING THIS FREE EVENT AS A

PART OF AN ONGOING "WEALTH BUILDING SERIES"

Wednesday - February 27th, at 7:00pm
Location: Fidelity National Title 1710 Prairie City Rd. #130 Folsom, CA
RSVP TO Christina Pilgrim
BY FEBRUARY 25th TO BE INCLUDED
ON THE GUEST LIST. SPACE IS
LIMITED. DON'T MISS OUT!
(916) 548-4475

• Denied employment

• $100,000 in medical bills

that aren't yours

If you think this couldn't happen to you, think again! The nationwide numbers are growing at a staggering
rate and it is expected that 1 in 4 Americans will fall victim to identity theft in the next 3 years. This seminar
will show you what to do if this happens to you. Protect yourself!

Women's Council Of Realtors Eldorado March 21st 11:30AM - Cameron Park Country Club

Christina Pilgrim (Weichert Pacific Equity Properties) — Mon, 25 Feb 2008 08:18:36 -0600

Discover how laughter and humor can work to your advantage when dealing with the seemingly unfunny business of balancing risk and managing change. Learn how flexibility and responsiveness are critical qualities for thriving in a world of ever-accelerating change.

This fun, innovative seminar also explores how the successful use of humor can reduce stress, build morale, and help you lead others through difficult times of change. You will also discover the importance of maintaining a positive attitude and clarifying values when facing change - or when simply pursuing a happier, more satisfying life.

Embrace Risk, Manage Change, and Laugh Often also shows you how to develop the skills of a successful problem-solver by using creativity, humor, and divergent thinking. Use these powerful skills to make positive changes within your organization or within yourself. You will leave this seminar viewing change as a positive challenge rather than something to avoid.

Jim Pelley is Director of Laughter Works Seminars. He was also contributing writer for the original Saturday Night Live Show.

For more than 24 years Jim Pelley has taught people how to put more humor and creativity in their lives to become more creative, more productive, and less stressed!

Jim has left them laughing at more than 2,146 organizations worldwide, including: Intel, The Department of Justice, Pepsi, Walt Disney Company, Motorola, Folsom Lake Bank, ... not to mention the Casket and Funeral Supply Association of America.

Please take this opportunity to visit WCR. This is an event you do not want to miss. Please RSVP and pass on the invite to anyone in a real estate related business!

Revitalization meetings for Folsom Historic District

Christina Pilgrim (Weichert Pacific Equity Properties) — Tue, 29 Jan 2008 14:22:52 -0600

The Revitalization project for Folsom's Historic District will be marking a key milestone with the opening of our new parking structure. In preparation, we will be holding stakeholder meetings next Monday and Tuesday on the topic of Parking Management. We'll be holding an evening meeting and a morning meeting in hopes that one or the other will fit into everyone's schedule. Here are the details:

Monday, February 4^th

6:00 PM

Landmark Baptist Church

609 Figueroa Street

Tuesday, February 5^th

9:00 AM

Landmark Baptist Church

609 Figueroa Street

SB 1054

Christina Pilgrim (Weichert Pacific Equity Properties) — Wed, 23 Jan 2008 08:54:03 -0600

The second provision prohibits a real estate professional who gives an opinion of value on a property to a mortgage lender from acting as the listing agent on that property for a period of one year. For more information you can visit http://www.leginfo.ca.gov/

How do you feel about that? Do you think it is enforceable? Thoughts?

Mayor's 'State Of The City' address

Christina Pilgrim (Weichert Pacific Equity Properties) — Wed, 23 Jan 2008 08:49:41 -0600

Folsom's Mayor will make his state of the city address at 11:30 at the Natoma Inn on Thursday at 11:30.

That is this Thursday January 24th at 11:30.

We have big projects like the new shopping on Iron Point and the new bridge as well as the historic revitilization. However our city is being greatly effected by a loss of sales tax and property taxes right now. I feel this will be a very informative event.

Call the Chanber for more info: 916-985-2698

Wealth Builders: Managing Credit 101

Christina Pilgrim (Weichert Pacific Equity Properties) — Wed, 16 Jan 2008 16:02:48 -0600

Before you close any open accounts, before you open a new account, learn the combined factors that contribute to your overall credit score!

Who Should Attend?

· Anyone with credit scores under 720

· Young people just starting out, & establishing credit

· Separated or divorced persons

· Newlyweds

· Students

I AM HOSTING THIS FREE EVENT AS A PART OF AN ONGOING "WEALTH BUILDING SERIES" Wednesday - January 30th, at 7:00pm

Location: Fidelity National Title 1710 Prairie City Rd. #130 Folsom, CA

Please RSVP and let me know you are attending.

Proposed CA Legislation

Christina Pilgrim (Weichert Pacific Equity Properties) — Tue, 15 Jan 2008 16:54:47 -0600

I took a short sale class today and the instructor Scott Thompson said there is proposed legislation in California to make it illegal for the agent who does the BPO to get the REO listing due to conflict of interest.

I emailed him to clarify and make sure I heard correctly and will follow up when I hear. Has anyone else heard about this?

Also wanted to ask if anyone has taken this training? I was told it is now the 'pre-training' to qualify for PAS training: http://www.realestateeducate.com ?

Thanks!

Question on uploading pics

Christina Pilgrim (Weichert Pacific Equity Properties) — Sat, 12 Jan 2008 18:20:32 -0600

Hello! I am fairly new here but love it! Can't get enough here. I read more than post but spend time here every day.

Any how, I have a son in basketball and volunteered to take pictures for each game. I want to put them on line so that parents can look at the pics and download them if they like. I know I can use a free service like 'photobucket' but I was wondering if there is a way to post them to my blog so I am also bring potential clients to my sight? I could also post additional info about our basketball association which would be great for other local families and help them get involved.

So can I post/upload a large number of pictures here weekly with dates for the games so parents can come see them and have access?

Thanks!

Sacramento Area Storm Damadge

Christina Pilgrim (Weichert Pacific Equity Properties) — Mon, 07 Jan 2008 08:11:50 -0600

Nearly 37,000 residents from Sacramento to the Sierra remain without power. Additional moisture and cold weather is on it's way though the worst is over. 80 percent of those still without power are in the area north of the American River, including heavily-treed areas in E Foothill Farms, Del Paso Heights, Citrus Heights.

SMUD's customer service line at 888-456-SMUD.

An area of particular concern was the Apple Hill area near Camino in El Dorado County. This area has several actual power-lines down and is still with out power while being impacted by continued snowfall.

If you are without heat/electricity you are urged to go to the shelters at Sacramento's Belle Coolidge Community Center, 5699 South Land Park Drive; and the Hagginwood Community Center, 3271 Marysville Boulevard; as well as the Rancho Cordova Neighborhood Center, 10665 Coloma Road in Rancho Cordova opened Saturday and would stay open until further notice. Also up in Auburn at Gold Country Fairgrounds' Sierra Building on High Street the American Red Cross opened a second shelter.

Rememer not to eat food that has not been refrigerated for 48 hours.

Please visit: http://www.news10.net/news/pdf/red-cross-winter-wx.pdf for emergency preparedness information.

NRBA

Christina Pilgrim (Weichert Pacific Equity Properties) — Sat, 05 Jan 2008 18:22:41 -0600

I am loking for some feed back on this organization.Which of you are members and how do you feel about the benefits and rescources?

Thanks.

NRBA

Christina Pilgrim (Weichert Pacific Equity Properties) — Sat, 05 Jan 2008 18:21:42 -0600

I am loking for some feed back on this organization.Which of you are members and how do you feel about the benefits and rescources?

Thanks.