First step: Find out who owns your current loan then you can start making calls and plans:

Is your loan owned by Fannie Mae or Freddie Mac?  Find out here: http://makinghomeaffordable.gov/loan_lookup.html

We are all trying to find the bottom!

Here in the Elk Grove and Sacramento area of California I selected a zip code for two subdivisions that I have been tracking through the years: 95828 for Vintage Park and Country Side. 

How do we determine if we have hit the bottom?   Most importantly how can we determine if we have reached and "tested" the bottom.

During the first half of July there were 22 sales, 6 of those sales were full price and 12 were over full price.  The other 4 sales received $ 132.50 per sq ft. The average days on market was 35 days. The full price sales were 106% of list price and the square footage increase $ 7.50 per sq ft from the previous month.

For the month of June there were 53 total sales taking 50 average days on the market with the % of sales price vs list price being 99% and the average sq ft price of $ 125.

All the sales both months were either short sales or fore closures.  This area was hit very hard by the mortgage crisis.  I will be very interested to find out the results for the next couple of months.

As a resident & Realtor I feel confident says that these two subdivisions have reached their bottom AND have now tested that  bottom.  I'll rerun the details at the end of the month for you to compare monthly returns.

Can you guarantee your net sheets?   With all we do as buyer's agents, do we stand up for that "bottom line" presented at the signing appointment.   This is our real job, watching that dollar as if were our own.  Two tips on having the courage to quarantee the net sheet:

First, within 72 hours of contract acceptance have your lender issue a new 'good faith', this new one is  "according to the contract."  Review this document with your Lender and Escrow Officier.   You are all on the same team and need to maximize your talents.   

Secondly, show up for signing at least 30 minutes early.   You must review the closing statement, HUD 1, whatever it's called in your state.   It must match the lenders statement.   Just this morning while reviewing a "Good Faith Estimate" I found a $ 150 email fee.   What the heck is that?  I don't pay $ 150 a month total to email.

Lastly, when your client arrives, you explain, "I've reviewed your closing statement and it is according to your contract," and you'll see and hear that sigh of relief.   The key: No surprises at signing! 

You collect business cards by the ton, right!  

Don't just collect them use them to build a network of services that "work" for you and "work" for them!

Monday, I opened a letter from the IRS and learned that I was going to need to give them $ 2458 more.  What a treat!   So I call my accountant in Davis, Vic Bucher Accountancy, and faxed them the letter.

I received a phone call back in 1 hour from Brian who had pulled my old records, checked the numbers, saw why they would "think" I would owe them more money but that no I didn't and he had the documents to share with them and he would mail a letter out within the week.   That's kewl.  That's networking that works!   Don't just collect those cards make those contacts "working contacts" ( brian@vicbucher.com  ) AND Brian let me know that this was just part of their great service, at no extra charge.  Ya don't think I won't refer him on to my clients!   

Greetings! You've just been MEMED on Active Rain!

"WHAT?" you say? Go to this post:

http://activerain.com/blogsview/591126/Mini-Meme-from-Keller

and make a comment telling us "What 5 Things You don't Know About Me". OR, put it on your "other blog", but please put a link to it in the comments of the Keller Williams AR Meme Post (link just above here).

Then contact 3 other Active Rainers and meme them!

Just do it. It's fun!

Here's my stuff:

1.  I love to sail.  Starting sailing about 6 years ago and now sail most of the time on SF Bay.  I can skipper up to a 42' sail boat.

2. I design and make knit wear.  I've been knitting for years but now have moved into designing my own pieces.   It really feels great to wear your own clothes.

3. My son just graduated from CSUS - Cal Maritime in Vallejo and will be working as a third mate on research vessels in the islands.

4. As a Buyer's Agent I have averaged two trips out per real estate contract.  I've been doin this since 88 and have a system that gets me a contract for every two trips per client.   Even in this market!

5.  I love maps and anything about mapping.   I'm so weird, I actually schedule calls to people when they get back from vacation and see if I can meet with them or at least talk with them on the phone about their trip.  I'm talking with them and following on the map.   I'm over the top on any kind of map!  Gawd, I own 4 Garmin products!

I am so enjoying the back & forth on the Amtrak and Light Rail issues coming up in Elk Grove.  I love the train, use it often and wish I could use it more.   You either hate or don't mind the traffic up and down 99!  No one is neutral on this one.

Attend the hearing at the Elk Grove City Council Chambers on July 10 - discussions on Amtrak station in Elk Grove.

http://www.elkgrovecity.org/