DeeDee's Real Estate Information Blog

Toys for Tots Event in El Dorado Hills

DeeDee Riley (Lyon Real Estate) — Tue, 10 Nov 2009 01:37:06 -0600

Please join us for our annual holiday event. The El Dorado Hills Fire Department will be there with a truck as well and they are always a big hit with the children!

Buyer's Market or Seller's Market?

DeeDee Riley (Lyon Real Estate) — Tue, 27 Oct 2009 00:00:15 -0500

Buyer’s Market or Seller’s Market? The discussion about whether we are in a buyer’s market or a seller’s market comes up a lot these days. A buyer’s market is defined as having 6 months or more of inventory and a seller’s market as having 6 months or less of inventory. The way that is calculated is by taking the listed homes on the market and dividing it by the sales for that month.

This may help in determining who has the negotiating power in a situation but when it comes to putting in an offer or listing a home for sale, there are several other factors that come in to play and the answer is not so cut and dry and you need to look further for correct pricing.

First thing to consider is the locality. Real estate is local and it has to be looked at on the local level first to determine where the inventory stands in that area.

From there you will find that different price ranges have different inventory levels and you need to look at the status in that price level. For instance, in El Dorado Hills where I live and work, the under $400K price range shows 4.3 months of inventory but the $750K and above price range shows 34 months of inventory according to September statistics.

This month Lyon Real Estate’s Trendgraphix press release states that the lower price ranges have stabilized and even moved up slightly. This is because there are so many buyers in that range and they are keeping the inventory to a minimum. With multiple offers on homes in that range, what we are seeing is a seller’s market with offers at full price and even over. Buyers in this instance have little negotiating power.

As the price of homes go up there are fewer and fewer buyers in those price ranges and as I stated in my El Dorado Hills example there can be several months’ worth of supply. Buyers in this scenario tend to have more negotiating power and it is considered a buyer’s market. But not always! Sometimes we find that the house itself is a big factor. As an example, in El Dorado Hills there can be several buyers who are looking for the same thing in a house and when a new listing comes on the market that fits that criterion, they can be facing competition from multiple offers. Whenever there are multiple offers the seller takes control.

To summarize, if you are in the market to buy or sell a home, don’t let the “buyer’s market” or “seller’s market” talk guide your offers and pricing.

What’s your scenario? Feel free to post it in a comment and we can discuss it!

Women's Council of Realtors October Business Luncheon

DeeDee Riley (Lyon Real Estate) — Sat, 10 Oct 2009 13:12:21 -0500

WHERE IT ALL COMES TOGETHER

www.eldoradowcr.org

Please join us as El Dorado County Chapter WCR and EDCAR Proudly Presents:

Gov Hutchinson, Assistant General Counselof the California Association of Realtors

For this month's business resource luncheon.

Topic: "Legal Update"

October 16, 2009

11:00am - 1:00pm

Cameron Park Country Club

Cost: $20

Agenda:

11:00am - Networking

11:30am - Lunch

RSVP Required by October 14th. To reserve your seat email me at driley@golyon.com

^{Please keep in mind that a Reservation Made is a Reservation Paid}^{We encourage you to invite a friend or business associate you feel would benefit from the Educational topics and Networking opportunities our Women's Council of Realtors Chapter has to offer its' members.}

WCR Business Luncheon Hosts REO Panel on the Ins & Outs of REOs

DeeDee Riley (Lyon Real Estate) — Mon, 03 Aug 2009 20:27:59 -0500

The Women's Council of REALTORS - El Dorado County Chapter will host an REO Panel for this month's business luncheon on the Ins and Outs of REOs.

August 14, 2009

11:00am - 1:00pm

Cameron Park Country Club, Cameron Park, CA

$20 WCR Member / $25 Non-Member Guest

The panel consists of:

Carlos Kozlowski, Realtor with Coldwell Banker - In 2008 Carlos was the #1 agent for Coldwell Banker in the Sacramento/Tahoe Region and ranked #12 nationally by the Wall Street Journal Lore Report for closing 455 transactions.

Ian Maker, Realtor with ReMax Gold - Ian began in the REO business in 1990. His REO team is ranked #22 in the nation with ReMax and has a proven track record for success using their streamlined procedures.

Warren Adams, Founding Broker with Security Pacific Real Estate - Recently selected "Top Performing Agent" at a national conference in Los Angeles. In 2008 Warren closed over 500 transactions totaling over $100 Million in sales volume and has ranked #1 in sales for the last 20 years at Security Pacific.

Please RSVP by August 11 to DeeDee Riley, Lyon Real Estate, driley@golyon.com

El Dorado County Association of Realtors 2009 Charity Golf Tournament

DeeDee Riley (Lyon Real Estate) — Fri, 31 Jul 2009 16:28:39 -0500

This year's charity golf tournament, organized by the El Dorado County Association of REALTORS®, will be held at the Cameron Park Country Club on Monday, August 31st with proceeds to benefit "Backpacks for Kids". Players arrive at 10:00am.

Foster care children often relocate, toting their possessions in plastic garbage bags because they cannot afford to purchase backpacks and suitcases of their own. "Suitcases for Kids" is a National Association of REALTORS® project that collects and distributes new backpacks, suitcases, and duffel bags for these special children. EDCAR manages its own independent operation we call "Backpacks for Kids" and buys material and accepts donated items to put together our own age and gender-specific backpacks for children in El Dorado County. These backpacks are distributed by Child Protective Services case workers.

We are seeking support from our community for our "Backpacks for Kids" program, by way of sponsorship and/or participation in this year's annual Charity Golf Tournament as well as through the donation of related goods, auction and live auction items for the event, funding, or items for the backpacks themselves.

If you are a golfer, we are still looking for players. Ticket prices for players are $150 who register by July 31, 2009 or $175 after that date.

Tickets for Players Will Include:

• 18 Holes of Tournament Golf (Four Players Per Team, 30 Teams)

• Golf Carts (one shared per every two players)

• Golf Shirts customized with the EDCAR logo for this event

• Tee Bag with Goodies

• Lunch (served in advance of play)

• Country Club Dinner (following play)

• Prizes Awarded to 1st, 2nd, and 3rd Place Teams

• Contests for "Closest to the Pin", "Longest Drive", "Putting", etc.

• Raffle Tickets for Great Prizes as well as Live Auction Items

• "Hole in One" Contests for Luxury Items

Lunch and Dinner is also open for registration to spouses and other non-players who would like to enjoy the day and festivities.

For more information visit: http://edcar4kids.com/ where you can find a registration form to download and instructions for building a back pack. This is a wonderful event and cause. Any support is greatly appreciated.

Market Update for Sacramento Region - July 2009

DeeDee Riley (Lyon Real Estate) — Thu, 23 Jul 2009 19:18:28 -0500

Here is the newest press release for our Lyon Real Estate Trendgraphix that summarizes the statistics from the previous month. This report is based on June 2009 sales and numbers.

This month's Trendgraphix talks about our low inventory. To go along with the press release and give you an idea of what is actually happening in the different price segments of homes I pulled statistics by county for four different prices levels. I've charted them showing the sales and the average price per square foot average of those sales. These stats are for all single family home sales (including bank owned). If you'd like to see what those statistics would look like for a particular zip code, email me at driley@golyon.com and I will be happy to pull those for you.

TRENDGRAPHIX MONTHLY REAL ESTATE REPORT

BROUGHT TO YOU BY

Lyon Real Estate

3640 American River Drive, Suite 100, Sacramento, CA 95864

F O R I M M E D I A T E R E L E A S E

July 13, 2009

CONTACT: Michael Lyon

CEO

(916) 978-4266

FAX (916) 481-7592

Low Inventory Pushes Prices Up

For the third month in a row, price per sq/ft, median and average prices have risen for homes priced below $750,000.00. With fewer than expected bank-owned properties hitting the market together with low interest rates, buyers are finding slim-pickings. The opposite is true above $750,000.00, where we have two years of inventory. The third month of increased prices should help appraisers establish a better base to value homes in the market.

TRENDGRAPHIX's latest report shows that sales increased 1 percent during the month of June for the Tri-County region of Sacramento, Placer and El Dorado Counties. June 2009 sales were 10 percent lower than June 2008 sales. Pending sales increased by 12 percent from May to June 2009.

June 2009 inventory of 6,331 homes for sale is 43 percent lower than June 2008 inventory. This is a 59 percent decrease for the regional inventory record high of 15,302 set in August 2007.

COUNTY HIGHS AND LOWS

Sacramento County sales decreased 3 percent from May to June 2009. Inventory decreased 2 percent during the month of June. Pending sales increased by 12 percent in the month of June. 56 percent of the homes sold for under $200,000; 37 percent of the homes sold for between $200,000 and $400,000; and 7 percent of the homes sold for over $400,000. The average price per square foot increased by 3 percent during the month of June to $121.

Placer County sales increased by 15 percent and inventory increased by 1 percent during the month of June 2009. Pending sales increased by 11 percent from May to June. 12 percent of the homes sold for under $200,000; 64 percent of the homes sold for between $200,000 and $400,000; and 24 percent of the homes sold for over $400,000. The average price per square foot increased 1 percent during the month of June at $154.

El Dorado County showed an 11 percent increase in sales from May to June, and the inventory decreased by 1 percent from May to June. Pending sales have increased 19 percent during the month of June. 16 percent of the homes sold for under $200,000; 43 percent of the homes sold for between $200,000 and $400,000; and 41 percent of the homes sold for over $400,000. The average price per square foot increased by 3 percent during the month of June to $159.

Yolo County sales increased by 6 percent for June 2009 and the inventory increased by 2 percent. Pending sales increased 8 percent during the month of June. 34 percent of the homes sold for under $200,000; 48 percent of the homes sold for between $200,000 and $400,000; and 18 percent of the homes sold for over $400,000. The average price per square foot decreased by 2 percent during the month of June to $162.

Nevada County sales have increased by 16 percent during the month of June, and inventory increased 1 percent. Pending sales decreased by 3 percent. 3 percent of the homes sold for under $200,000; 38 percent of the homes sold for between $200,000 and $400,000; and 59 percent of the homes sold for over $400,000. The average price per square foot decreased by 7 percent during the month of June at $182.

San Joaquin County sales have increased by 6 percent during the month of June, and inventory decreased 7 percent from May to June. Pending sales are up 17 percent. 49 percent of the homes sold for under $200,000; 42 percent of the homes sold for between $200,000 and $400,000; and 9 percent of the homes sold for over $400,000. The average price per square foot remained the same during the month of June at $93.

Women's Council of Realtors El Dorado Chapter - Grape Escape Event

DeeDee Riley (Lyon Real Estate) — Sun, 26 Apr 2009 03:41:35 -0500

The El Dorado Chapter of Women's Council of Realtors will be hosting our 6th Annual Grape Escape Event Friday, May 8th, 2009 - 5:30-9:00PM at Mercedes Benz of El Dorado Hills. We will have local food and wine vendors, live music, and a silent auction.

This year we will be benefiting Family Connections - "Strengthening Families and Enriching Communities" and CASA - Court Appointed Special Advocates.

Tickets may be purchased as Lyon Real Estate in El Dorado Hills, 3900 Park Drive- $25 each.

This is a wonderful event and well worth the time and effort. Please join us.

For more information contact: Nancy Murphy 530.957.1950 or Judy Hawkins 916-955-2198

What Can Be Done Regarding El Dorado County Property Tax Reassesments

DeeDee Riley (Lyon Real Estate) — Mon, 20 Apr 2009 15:21:10 -0500

As a local realtor I am hearing reports from clients and friends about their refinancing difficulties and many are due to our decline in values. That is an issue all of us as homeowners are facing refinance or not. I decided to find out what can be done as far as having our property taxes reassessed to reflect our current values and at least help lower our property taxes. I contacted the El Dorado County Assessors Office directly and here is what I found out.

Our taxes we are paying now are based on the values from January 08. They will base 2009-2010 taxes on the value as of January 2009. The assessors office will be looking at homes purchased 2003 or since. They believe any home purchased before that time is still in the black and worth more than their current assessments. If you did purchase in 2003 or since you will need to fill out their online Decline in Value Request Form. You can find that at http://co.el-dorado.ca.us/assessor/prop8form.asp. Include in the comments what you believe your home is worth. They will be using their own comps for now to assess our properties. However, if you have had an appraisal recently, explain that in the comments and then fax your appraisal to 530-642-8148. Make sure to include your parcel number at the top of the page. They will be closing the tax roll for this year on June 30th so you absolutely need to have the above form in to them by then. I would suggest not waiting. It took me about three minutes to fill it out and that included finding my latest property tax statement so that I could enter my parcel number.

I can't guarantee that taxes will be reduced for you, but we won't know if we don't try. We should get the notice of assessment in the summer and will then be able to ask for an appeal if you are not satisfied with the outcome. This information is for El Dorado County. If you have properties in Sacramento County, Yolo County, and Placer County you will need to check with the assessors offices there as to what they require and their time lines.

For Sacramento County visit: http://www.assessor.saccounty.net/GeneralInformation/SAC_ASR_DF_Decline_Value

For Yolo County visit: http://www.yolocounty.org/Index.aspx?page=579

For Placer County visit: http://www.placer.ca.gov/Departments/Assessor.aspx

Beware of scams to help you get your property reassessed for a fee. By contacting the assessors office yourself you should be able to handle it at no charge.

DeeDee Riley, Lyon Real Estate El Dorado Hills

Market Trends Updates for El Dorado, Sacramento, Placer, & Yolo Counties

DeeDee Riley (Lyon Real Estate) — Mon, 20 Apr 2009 14:41:07 -0500

While our Lyon office is buzzing lately with activity and it is such an amazing time to buy, like this month"s Trendgraphix report states, our inventory is very low. With the moratorium on bank foreclosures, unfortunately what is still out there is either in very bad shape or is selling in a matter of days with multiple offers. I'm not sure how our officials are thinking this will help. Most of us in the real estate world just want to see what we have and get them out of the way. It feels like it is just postponing the inevitable.

Along with our newest Trendgraphix, I am including a Price Trend and Surplus Analysis that is through February and shows the cumulative per square foot growth since January 2001. For most areas in our region, we are almost back to those 2001 prices. For El Dorado County our homes are still comparing in value to the 2005 prices.

The monthly Trendgraphix report can be viewed on my website at DeeDeeRiley.com by clicking on the link in the left collumn. The Price Trend Analysis report is updated periodically for our Lyon agents. To see the latest update, please email me at driley@golyon.com. Feel free to contact me with any questions on either of these reports.

TRENDGRAPHIX MONTHLY REAL ESTATE REPORT

Bank Owned Inventory is running out

"It may only be a product of the many moratoriums on REO sales, that has dropped inventory levels down to just one month and below a month for pending sales which have jumped 24%," said Michael Lyon, CEO of Lyon Real Estate. "The average REO sold price is hovering at $180,000 for the last three months. Even more profound is that the price per foot for REO's in Sacramento County has dropped below $100/ft to $ 99/ft. Interest rates are below 5%, first time buyer tax credits and REO inventories that are being absorbed as fast as they reach the market are changing the market faster than anticipated. Let there be no misunderstanding about the REO market, we feel there will be as many REO sales this year as last. The difference is the drastic drop in prices and very low interest rates have made for an ideal buyers market. Jumbo mortgages above $700,000 which were very hard to come by are slowly becoming available as Lenders decide that they have enough money to lend. There still no secondary market for these loans so the Banks have to keep them on their books, but many banks feel a 6% to 7% asset on the books is not a bad investment."

TRENDGRAPHIX latest report shows that sales increased 10 percent during the month of March for the Tri-County region of Sacramento, Placer and El Dorado Counties. March 2009 sales were 43 percent higher than March 2008 sales. Pending sales increased by 35 percent from February to March 2009. March 2009 inventory of 7,739 homes for sale is 37 percent lower than March 2008 inventory. This is a 49 percent decrease for the regional inventory record high of 15,302 set in August 2007.

COUNTY HIGHS AND LOWS

Sacramento County sales increased 7 percent from February to March 2009. Inventory decreased 7 percent during the month of March. Pending sales increased by 33 percent in the month of March. 61 percent of the homes sold for under $200,000; 34 percent of the homes sold for between $200,000 and $400,000; and 5 percent of the homes sold for over $400,000. The average price per square foot decreased by 2 percent during the month of March to $113.

Placer County sales increased by 32 percent and inventory decreased by 3 percent during the month of March 2009. Pending sales increased by 49 percent from February to March. 15 percent of the homes sold for under $200,000; 65 percent of the homes sold for between $200,000 and $400,000; and 20 percent of the homes sold for over $400,000. The average price per square foot decreased 1 percent during the month of March at $148.

El Dorado County showed a 7 percent increase in sales from February to March, and the inventory increased by 2 percent from February to March. Pending sales have increased 29 percent during the month of March. 17 percent of the homes sold for under $200,000; 49 percent of the homes sold for between $200,000 and $400,000; and 34 percent of the homes sold for over $400,000. The average price per square foot decreased by 1 percent during the month of March to $163.

Yolo County showed a 57 percent increase in sales for March and the inventory decreased by 10 percent. Pending sales increased 17 percent during the month of March. 42 percent of the homes sold for under $200,000; 42 percent of the homes sold for between $200,000 and $400,000; and 16 percent of the homes sold for over $400,000. The average price per square foot increased by 11 percent during the month of March to $142.

Nevada County sales have decreased by 34 percent during the month of March, and inventory increased 5 percent. Pending sales increased by 30 percent. 0 percent of the homes sold for under $200,000; 43 percent of the homes sold for between $200,000 and $400,000; and 57 percent of the homes sold for over $400,000. The average price per square foot increased by 2 percent during the month of March at $192.

San Joaquin County sales have increased by 19 percent during the month of March, and inventory decreased 16 percent from February to March. Pending sales are up 36 percent. 50 percent of the homes sold for under $200,000; 42 percent of the homes sold for between $200,000 and $400,000; and 8 percent of the homes sold for over $400,000. The average price per square foot decreased 5 percent to $91 in March.

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Market Statistics in the Sacramento Region for February 2009

DeeDee Riley (Lyon Real Estate) — Mon, 16 Mar 2009 16:46:47 -0500

Every month, at Lyon Real Estate, our CEO Mike Lyon releases a report on the statistics from the previous month's sales for six counties in our Sacramento region. These statistics come from our Trendgraphix tool and are available to us as Lyon agents. Here is this month's report as well as a table I put together to break down some of the areas within these counties to back up my "Real Estate is local" affirmation. There is a link on my website for this report that I update monthly around mid month.

TRENDGRAPHIX MONTHLY REAL ESTATE REPORT

BROUGHT TO YOU BY

Lyon Real Estate

March 9, 2009

Banked Owned Inventory Declines 20%

"Bank-Owned (REO) Inventory has declined 40% and ‘Solds' have increased 84% since February 2008," said Michael Lyon, CEO of Lyon Real Estate. "There has been a 20% drop in REO inventory in just the last 30 days in our region. With state moratoriums and enticements of federal aid, the general feeling is that a lot of REO inventory has been delayed entering the market. Meanwhile, the non-REO market above $500k has seen a 6% increase in inventory and a 37% drop in sales, when comparing February over January 2009. It's likely that financing constraints are now affecting upper-end market sales and inventory."

TRENDGRAPHIX's latest report shows that sales decreased 5 percent during the month of February for the Tri-County region of Sacramento, Placer and El Dorado Counties. February 2009 sales were 44 percent higher than February 2008 sales. Pending sales increased by 4 percent from January to February 2009.

February 2009 inventory of 8,136 homes for sale is 35 percent lower than February 2008 inventory. This is a 47 percent decrease for the regional inventory record high of 15,302 set in August 2007.

COUNTY HIGHS AND LOWS

Sacramento County sales decreased 4 percent from January to February 2009. Inventory decreased 5 percent during the month of February. Pending sales increased by 3 percent in the month of February. 61 percent of the homes sold for under $200,000; 33 percent of the homes sold for between $200,000 and $400,000; and 6 percent of the homes sold for over $400,000. The average price per square foot decreased by 1 percent during the month of February to $115.

Placer County sales decreased by 14 percent and inventory increased by 2 percent during the month of February 2009. Pending sales increased by 7 percent from January to February. 10 percent of the homes sold for under $200,000; 65 percent of the homes sold for between $200,000 and $400,000; and 25 percent of the homes sold for over $400,000. The average price per square foot increased 1 percent during the month of February at $149.

El Dorado County showed a 13 percent increase in sales from January to February, and the inventory decreased by 1 percent from January to February. Pending sales have increased 4 percent during the month of February. 18 percent of the homes sold for under $200,000; 49 percent of the homes sold for between $200,000 and $400,000; and 33 percent of the homes sold for over $400,000. The average price per square foot increased by 2 percent during the month of February to $165.

Yolo County showed a 12 percent decrease in sales for February and the inventory decreased by 10 percent. Pending sales increased 18 percent during the month of February. 46 percent of the homes sold for under $200,000; 47 percent of the homes sold for between $200,000 and $400,000; and 7 percent of the homes sold for over $400,000. The average price per square foot decreased by 12 percent during the month of February to $128.

Nevada County sales have decreased by 9 percent during the month of February, and inventory increased 6 percent. Pending sales decreased by 10 percent. 7 percent of the homes sold for under $200,000; 48 percent of the homes sold for between $200,000 and $400,000; and 45 percent of the homes sold for over $400,000. The average price per square foot decreased by 4 percent during the month of February at $188.

San Joaquin County sales have decreased by 18 percent during the month of February, and inventory decreased 8 percent from January to February. Pending sales are up 3 percent. 48 percent of the homes sold for under $200,000; 43 percent of the homes sold for between $200,000 and $400,000; and 9 percent of the homes sold for over $400,000. The average price per square foot decreased 1 percent to $96 in February.

###

In regards to the bank owned properties, the banks are lowering the prices to whatever they need to in order to get a home sold. For example, if a home is trashed or "a real fixer upper", it will tend to sit as the average buyer is afraid to take on big projects. The bank just wants it off of their books and keeps lowering and lowering a property until finally some buyer takes the chance. Larger bank owned homes tend to sit as well because even though the price per square foot can be extremely low, the total home cost is still more than the average buyer of today is willing to spend or can even qualify for. Again, the bank will continue to drop the price until it attracts the right buyer.

In regards to the non-bank owned, these figures include short sales, which should really be in their own category as well. These sellers have to list their homes to the level of bank owned properties in order to attract buyers due to the difficulties in selling them that has been involved and has given them a bad reputation in the real estate world. They are becoming a significant percentage of the non-bank owned sales and have contributed to the lower price per square foot values.

If you would like some statistics on your zip code email me at driley@golyon.com.

Market Comparison January 08 to January 09 for El Dorado Hill, Folsom, and Cameron Park/Shingle Springs

DeeDee Riley (Lyon Real Estate) — Fri, 20 Feb 2009 02:07:59 -0600

Based on our Lyon Real Estate Trendgraphix, here is a comparision of market statistics for January 2008 and January 2009 for El Dorado Hill, Folsom, and Cameron Park / Shingle Springs. These statistics are pulled from the MLS for our area.

If you would like statistics on a specific zip code in the Sacramento Region, please email me at driley@golyon.com

Single Story for Sale in Great Roseville Location

DeeDee Riley (Lyon Real Estate) — Tue, 03 Feb 2009 00:35:32 -0600

Alden Way, Roseville, CA - Though not exactly in our Sierra Foothills, I just listed this home and it is in such a great location, still in our Sacramento Valley, so I had to blog about it. This little single story home was built in 1998 by Cresleigh Homes on approximately .15 acres in a wonderful neighborhood where it is convenient to the Galleria Mall and the newly opened Fountains Mall, (approx. 1.2 miles or 4 minutes), Hewlett Packard (2.9 miles or approximately 9 minutes, Sutter Roseville Med Center (2.3 miles or 7 minutes), and an award winning elementary school (.2 miles or 53 seconds). These distances and times are by car, of course. This charming home has 3 bedrooms and 2 bathrooms, within its 1537 square feet. The 10 foot high ceilings and bright, open floor plan give it a much bigger feel. It is meticulously clean and has been newly painted so it is move-in ready for you to make your home or buy as a rental. This great find is listed at $295,000. Please email me for more information, pictures or to arrange a showing.

BEWARE OF REAL ESTATE RENTAL PROPERTY SCAMS

DeeDee Riley (Lyon Real Estate) — Tue, 30 Dec 2008 19:14:52 -0600

As realtors, we are hearing more and more about rental scams taking place. We were just made aware today of a scam that occurred with a listing in one of our local Lyon Real Estate offices. The scammers pulled property information, including pictures, from the MLS and posted an ad on Craig's List. An interested party drove by the property prior to submitting a deposit and saw the Lyon listing sign in the front yard. The prospective tenant then called the listing agent's number on the sign to inquire why the home was for sale if it was being rented. The listing agent then put the woman in touch with the homeowners and the scam was uncovered.

These kinds of scams are becoming more and more popular, especially with vacant properties. We have also heard of scammers taking deposit money on homes that are bank owned from people intending to rent.

Consumers should never make an upfront payment or deposit for rent unless they're confident that the person advertising the property is the property owner or has legal authorization to advertise the property, i.e. the property manager.

I did a quick search on Google.com where I found several articles on these kinds of scams. It is a shame that we have to worry about such things but we do. Please beware- Realtors, Homeowners, Renters.

What other scams are out there?

A Buyer's Bonanza

DeeDee Riley (Lyon Real Estate) — Sat, 27 Dec 2008 03:18:01 -0600

Though our holidays have given us a little distraction, life has gone on in real estate in much the same fashion it has been going. Inventory is down, home values are down, interest rates are down. Sales are up however, so at least things are moving along. It is still a great market for buyers.

At Lyon Real Estate we have exclusive rights to a program we call Trendgraphix. Our statistics are pulled each month and analyzed. Our CEO, Mike Lyon, then issues a report based on the these statistics. The latest Trendgraphix Press Release reports:

A Buyer's Bonanza!

$200k Market sees prices below $100/sq.ft.

"It was just a few months ago that we saw the <$100k home market drop below $100/sq.ft," said Michael Lyon, CEO of Lyon Real Estate. "Now bank-owned (REO) properties in the $200k bracket have fallen to $95 a sq.ft., with non-REO listings close behind. Inventory for homes under $200k have risen and this market segment now represents 44% of the total Four County inventory. Our region has become a buyer's bonanza now that interest rates have fallen into the 5% range.

The flip side is that homes above $750k have seen sales decline by 50% in the last 12 months, as financing has become more restrictive. All price ranges continue to decline in value; the steepest declines occurring furthest away from job markets."

TRENDGRAPHIX's latest report shows that sales decreased 24 percent during the month of November for the Tri-County region of Sacramento, Placer and El Dorado Counties. November 2008 sales were 76 percent higher than November 2007 sales. Pending sales decreased by 10 percent from October to November 2008. November 2008 inventory of 9,541 homes for sale is 32 percent lower than November 2007 inventory. This is a 38 percent decrease for the regional inventory record high of 15,302 set in August 2007.

COUNTY HIGHS AND LOWS

Sacramento County sales decreased 23 percent from October to November 2008. Inventory decreased 7 percent during the month of November. Pending sales decreased by 9 percent in the month of November. 56 percent of the homes sold for under $200,000; 38 percent of the homes sold for between $200,000 and $400,000; and 6 percent of the homes sold for over $400,000. The average price per square foot decreased by 5 percent during the month of November to $124.

Placer County sales decreased by 25 percent and inventory decreased by 6 percent during the month of November 2008. Pending sales decreased by 15 percent from October to November. 9 percent of the homes sold for under $200,000; 68 percent of the homes sold for between $200,000 and $400,000; and 23 percent of the homes sold for over $400,000. The average price per square foot decreased 4 percent during the month of November at $156.

El Dorado County showed a 24 percent decrease in sales from October to November, and the inventory decreased by 8 percent from October to November. Pending sales have decreased 10 percent during the month of November. 10 percent of the homes sold for under $200,000; 47 percent of the homes sold for between $200,000 and $400,000; and 43 percent of the homes sold for over $400,000. The average price per square foot decreased by 5 percent during the month of November to $172.

Yolo County showed a 28 percent decrease in sales for November and the inventory decreased by 12 percent. Pending sales decreased 18 percent during the month of November. 28 percent of the homes sold for under $200,000; 54 percent of the homes sold for between $200,000 and $400,000; and 18 percent of the homes sold for over $400,000. The average price per square foot increased by 15 percent during the month of November to $177.

To make this easier to understand I pulled some additional county statistics together and compared them to November 2007. To prove my point that "real estate is local", I also included statistics for Davis which is part of Yolo County. Davis is holding it's value quite well in comparison to the rest of the county. Granite Bay would be similar for Placer County and Folsom would be similar in regards to Sacramento County.

One last statistic for you to think about - At the end of 1998 the median home price for Sacramento County was approximately $130K and $168K for El Dorado County. Despite what our local economy has been going through these last few years, that is still a 28.6% gain for Sacramento County and a 52% gain for El Dorado County.

This report is available on my website at http://www.deedeeriley.com/ under the Trendgraphix Press Release tab in the left hand column. I update it around the middle of the month when the new report is released. To receive it automatically every month, email me and I will happily add you to my news group list.

Cheers!

Best Price Per Square Foot Home Listed Today in El Dorado Hills

DeeDee Riley (Lyon Real Estate) — Wed, 10 Dec 2008 16:29:17 -0600

Damico Drive, El Dorado Hills, CA - The best price per square foot home today in El Dorado Hills is only $111.48 per foot. It sits in one of the newer Serrano villages on approximately .23 acres with 5 bedrooms, 4.5 bathrooms, and just over 4300 square feet. It is a 2 story with a 2 car garage. There is no back yard landscaping but at this price you could put a yard in that you want and still be sitting pretty as far a a deal. This bank owned home is currently listed at $479,900.

To give you some perspective on the price of this home here are a few statistics for our local area:

Since June there have been 9 homes sold in the Serrano area between 4000 - 4500 square feet with the highest selling at $735K and the low at $600K, a median home price of $678K, and an average square foot price of $163.11.

Looking at our Lyon Trendgraphix statistics for the month of November, in all of El Dorado Hills there were 45 homes sold. Of those, 25 were non-REO and averaged $181/ square foot while the other 20 were REOs and averaged $162/ square foot. Comparing statistics from November 07, sales for all properties in El Dorado Hills is up 36.4% and inventory is down 27%. As inventory decreases we are creating more of a demand, which will evenutally turn our home prices back in the right direction. If you are waiting to buy, don't!

To see more of our Trendgraphix click here. To see all bank owned properties in El Dorado Hills, visit my website and click on the link at the top of the page.

Best Season for the Sierra Foothills Region

DeeDee Riley (Lyon Real Estate) — Sun, 23 Nov 2008 13:55:20 -0600

El Dorado Hills, CA - As this is a rather slow time of the year and new inventory on the market is low, I thought I would touch on some of the other "bests" for our Sierra Foothills area. I use to think of myself as a summer person because I love warm weather and clear sunny skies which is typical here in the foothills. I still love summer here, even though it can be too warm at times (106 on the hottest days) throughout the Sacramento Valley. I have, however, come to the conclusion that fall is "the best" season here. We still enjoy clear sunny skies and daytime temperatures in the 70's and low 80's, but there is a definite beauty in the hills this time of year. Our climate allows us trees that have amazing fall color, turning beautiful shades of red, orange, and yellow that stand out against the golden color of the hills and the deep greens of the native oaks. With the hottest days of summer over, our landscape plants are rejuvenated and take on flush of growth that look beautiful as well. Here is a shot taken from the Highland View neighborhood overlooking parts of El Dorado Hills with Folsom Lake in the background. The lake is usually low this time of year but unusually so this year due to the construction of a new spillway near the dam. To see a webcam for this same view visit www.backyardviews.com For my best finds for the El Dorado Hills area visit: www.MyBestOfTheHills.com.

The Emergence of the Current REO Market for Sierra Foothill Communities

DeeDee Riley (Lyon Real Estate) — Tue, 08 Jul 2008 19:59:25 -0500

El Dorado Hills, Cameron Park, & Folsom, CA Communities

In today's real estate market, all the talk is about bank owned properties. They have played a huge part in falling prices for all areas, but even more so in developing areas that experienced large growth. For the Sacramento area, Natomas and Elk Grove were hit hard by this factor. It was not long ago though that our market was almost standing still as buyers were afraid to invest and have their investments drop value to a bottom that could only be speculated. And it was not long ago that our common phrase "bank owned" listing was non-existent. Below is a chart showing the first bank owned sales experienced in the current downturn by three of our local foothill areas: El Dorado Hills, the Cameron Park Vicinity, and Folsom with a look at the market of the time in comparison to the REO share of today's market. These statistics were gathered from our Lyon Real Estate Trendgraphix program. To see more market trend statistics for Sacramento and surrounding counties click here.

Price Trends for Housing in Sacramento / El Dorado Counties

DeeDee Riley (Lyon Real Estate) — Mon, 03 Dec 2007 01:54:56 -0600

The Real Estate market has taken a hard hit these last couple years and the doom and gloom has been regularly publicized by the media. However, if you look at the statistics from our analysts at Lyon Real Estate over the period from January 2001 to October 2007, you can see there is a glimmer of light. There is still an overall growth in price per square foot for all four of the counties in the Sacramento area(Sacramento, El Dorado, Placer, & Yolo). The following graphs for Sacramento and El Dorado Counties show the trends in inventory verses price per square foot. Sacramento County has an overall increase in value of 71.17%, and El Dorado County has seen an increase of 66.71% for that time frame. The hardest hit by the downturn are those who bought after 2004. If you bought mid-late 2004 you are probably still at a break even point, and if you were lucky enough to buy before 2004 you can probably still show an increase in value. Though the market could go down more, for those who can buy, it is an amazing opportunity. Inventory levels are at a high, giving you more to choose from, and interest rates are just above 6% currently. If you would like the graph for Placer or Yolo Counties please email me at driley@golyon.com and I would be happy to send it to you.

My Best Real Estate Advice

DeeDee Riley (Lyon Real Estate) — Mon, 24 Sep 2007 01:33:41 -0500

Many times people wait till they need to sell their homes to fix it up. I'm guilty myself. Three years ago when we were selling our home here in El Dorado Hills, we finally added some paint to our stark white walls and took down the fluorescent lighting so popular in the early 90's. We liked it so much it made us question, "Why didn't we do this before now?"

So my best advice is not to update your home for the next buyer. Do it for yourself in stages and enjoy it till that time comes when you decide to sell. Start with your kitchen and master bedroom/bath. These rooms make the biggest impact and where better than the places you begin and end your day. Take down the wallpaper. Though you may hear it's coming back, they are not referring to the flowery styles we use to have. Talk to your painter about the new techniques they have for painting over it instead of trying to remove it. Replace your florescent lighting. With every project, use the best quality materials you can afford. It will pay off in the long run, and remember you're doing this for yourself.

Do-it-yourself projects are ok as long as you're working within your capabilities. Larger, more complex projects should be done by professionals so that your investments add to your home's value. If you do hire a professional following these tips could save you a lot of problems.

Get referrals from people you know and trust.
Check contractor licenses through the Contractors License Board.
See some of their work first hand.
Keep a regular eye on all the detail or you risk not getting what you thought you were. (The earlier you identify and communicate a problem, the better for everyone involved.)

Our homes are most often our biggest investment and where we spend most of our time. Updating it regularly not only increases its value, but allows us to love where we live.

Market Summary for Sierra Foothills

DeeDee Riley (Lyon Real Estate) — Fri, 13 Jul 2007 21:27:09 -0500

At Lyon Real Estate we are fortunate to have exclusive rights in the Sacramento area to a tool developed by our company to collect and graph market statistics. The tool is called Trendgraphix. With Trendgraphix we can narrow the market down to certain areas, home sizes, and/or price ranges. The statistics are out for June 2007. I decided to look back not only to last year at this time but also to what the market was doing in June 2005. Here is what I found. I included both Sacramento and El Dorado counties to get a big picture, and also added some statistics for a few of the local areas I serve here in the Sierra Foothills.

Inventory doubled, at least, in all areas between 2005 and 2007, and sales fell drastically. It appears we didn't really feel the effects of the increase in inventory until 2007 when we see the big drop in price per square foot. With the increase in supply, buyers didn't face the pressure to "buy now or lose it". The market changed from a seller's market to a buyer's market. Sellers, anxious to sell their homes, have had to lower prices to meet buyer demands. Inventory has continued to rise but not at the rate it did between 2005 and 2006. How much more prices will drop is anyone's guess. With another unknown like interest rates in the mix buyers, sitting on the fence, will need to weigh what waiting for a further drop in home prices might cost them in a higher mortgage payment, not to mention losing a home they want to another buyer.

If you would like to have a Trendgraphix report for your area or specifics, please contact me as I would be happy to provide that to you.