‘Tis the Season for Safety - 11/30/09 01:55 PM
Hello All,
I hope everyone had a wonderful Thanksgiving filled with food, family and friends.  In my family, it's tradition to put up the lights the day after thanksgiving.  Thankfully no-one fell off the ladder this year.  So in light of being safe, here's a few Safety Tips for the holidays.  I'll have a few more Holiday "Tips" throughout the month.  Enjoy and be safe!
During the holiday hustle and bustle, people often overlook simple safety precautions. No matter where you're decorating or what you're buying, it is important to remember some important safety tips. CSA International, a global certification and … (2 comments)

Is your home Ready for Winter? - 11/25/09 03:06 PM
The following is a check list of home maintenance tips to get your home ready for winter.  Minor repairs and weather proofing can save you big money on heating bills this winter.  Comfort, safety, and saving money can be achieved by following these tips.
Maintenance Tips  
•·                                 Check all window and door locks for proper operation
•·                                 Check your home for water leaks
•·                                 Review your fire escape plan with your family
•·                                 Make sure there are working nightlights at the top and bottom of all stairs
•·                                 Have a heating professional check your heating system every year
•·                                 Protect … (0 comments)

A look at Real Estate History - 11/24/09 01:37 PM
According to a June 2009 report by the Federal Housing Finance Agency, the typical housing downturn, from peak to valley, lasts 3¾ years historically speaking. However, the same report found that the typical housing upswing, from valley to peak, lasts 6½ years.
Doug's Take: I found this very interesting and reflected on our latest downturn.  In Sacramento County, we statistically peaked in August 2005 @ a median price of $392,750. 3.75 years would come out to May 2009.  Well, as i've been saying for months now, we statistically bottomed out in Sacramento County in February 2009.  Amazingly close to 3.75 years … (0 comments)

Don't Get Scammed. Protect Yourself - 11/23/09 04:22 PM
… (0 comments)

FHA 90 Day Anti-Flipping Rule Issues Summary - 11/18/09 06:57 PM
information provided by California Association of Realtors
Status/Summary:Currently, FHA will not insure a loan for any property where title was transferred within 90 days.  There are some exceptions to this rule, including GSE REOs, HUD REOs, state and federally chartered financial institution REOs, and properties where local and state governments have taken possession.  What is not exempted from the rule are properties that were bought by investors and/or developers looking to do quick fixes and then flip the property. 
California's housing market has evolved throughout 2009, and with mortgage rates still at all time lows and home prices in the lower-end … (1 comments)

Google Maps Expands Real Estate Info - 11/17/09 12:41 PM
Google has been improving the usability of real estate information in its Google Maps function.Users can now select the "real estate" option from the "more" button on the top right of any Google Map. They'll automatically see balloons on the maps of listings, as well as a pop-up real estate refinement panel on the left.From there, they can refine what they are searching for by checking the boxes for renting or buying, apartment or house, as well as price range, square footage, numbers of bedrooms and bathrooms, and foreclosure listings.
Doug's Take:  I played around with this new feature for a … (3 comments)

October 2009 Sacramento County Real Estate Statistics - 11/16/09 11:07 PM
 
Change in sales volume and median sales price small but positive


Sacramento sales volume and median sales price both increased for October, showing a continued trend of a flat local market. Single family home sales increased 5.2% from 1,631 to 1,716 total units in October. Year-to-year, the current figure is 18.4% below the 2,103 sales of October 2008. Of the 1,716 sales this month, REO sales made up 41.6% of the total sales while short sales and conventional sales made up the remainder of sales at 20.7% and 37.7%, respectively. When compared with last month, REO sales decreased slightly … (0 comments)

November/December 2009 Sacramento Real Estate Update - 11/16/09 02:28 PM

clear skies,
doug
www.BuyWithDoug.com
… (0 comments)

Is this a safe neighborhood? - 11/12/09 05:50 PM
Is this neighborhood safe?  A question i get asked on a regular basis as a Realtor.  Well, over the years i've found some good resources to find out the answer to that question.  If you are every looking for a home in an unfamiliar neighborhood, it's always a good idea to check out the crime and school statistics in the area.  That information will effect your comfort level in your new home and your resale value later on.
Some resources include NeighborhoodScout or SpotCrime.  One particularly important point to note is the issue of sexual predators. CrimeReports.com allows you to enter … (2 comments)

Sacramento County, 3rd Quarter Market Report - 11/10/09 01:45 PM
… (0 comments)

Part 2: Credit After Foreclosure, Bankruptcy, or Short Sale - 11/09/09 03:07 PM
...continued from Part 1.  All informtation provided by California Association of Realtors (C.A.R.)
Q 20.  What is a FICO® Score?A A FICO® score is a number representing the creditworthiness of a  person or the likelihood that person will pay his or her debts. The three credit reporting agencies, Equifax, Experian, and TransUnion, collect data about consumers in order to compile credit reports. The credit agencies use FICO® software to generate FICO® scores, which are then sold to lenders. Actually FICO® is just one of the several credit scoring systems available. The Fair Isaac Corporation (known as FICO®) created the first credit scoring system in 1958.  Others … (0 comments)

Credit After Foreclosure, Bankruptcy, or Short Sale - 11/08/09 06:05 PM
Information provided by California Association of Realtors (C.A.R.):
One of the concerns a consumer has after experiencing a bankruptcy, foreclosure, or short sale (referred to as a "preforeclosure sale" by Fannie Mae) is the ability to obtain credit to purchase another home.  Fannie Mae has updated its credit guidelines.  This legal article summarizes those guidelines in Part I.  In addition, since lenders use FICO scores in order to determine the creditworthiness of a borrower, this article covers the impact of a bankruptcy, foreclosure or short sale on FICO scores in Part II. 
I.  Fannie Mae Credit Guidelines
Q 1.  How long is … (0 comments)

Obama Extends Homebuyer Tax Credit - 11/06/09 04:19 PM

Feel free to email or call me with any additional questions.  I'm here to help you or any of your referrals that want to take advantage of this extended opportunity.
clear skies,
doug
www.BuyWithDoug.com
… (0 comments)

Extra Tax Credit Info - 11/06/09 02:49 PM
Can a Taxpayer Claim a Credit if the Property is Purchased from a Seller with Seller Financing and the Seller Retains Title to the Property?
Yes. In situations where the buyer purchases the property, even though the seller retains legal title, the taxpayer may file for the credit. Some examples of this would include a land contract or a contract for deed.
According to the IRS, factors that would demonstrate the ownership of the property would include:
1. Right of possession, 2. Right to obtain legal title upon full payment of the purchase price, 3. Right to construct improvements, 4. Obligation … (0 comments)

Breaking News: Obama Extends Tax Credit - 11/06/09 02:37 PM
Homebuyer Tax Credit Update!
Today, President Obama signed a bill to extend the tax credit for first-time homebuyers (FTHBs) through June 30, 2010. The bill also opens up opportunities for others who are not buying a home for the first time.
TAX CREDIT OVERVIEW
Who Gets What?
First-Time Homebuyers (FTHBs): First-time homebuyers (that is, people who have not owned a home within the last three years) may be eligible for the tax credit. The credit for FTHBs is 10% of the purchase price of the home, with a maximum available credit of $8,000
Single taxpayers and married couples filing a joint … (0 comments)

Tax Credit Extended and Expanded - 11/05/09 04:49 PM
Following the Senate's favorable vote yesterday, the U.S. House of Representatives just voted 403 to 12 to extend the home buyer tax credit, expanding the parameters to include existing homeowners and not just first-time buyers. President Obama is expected to sign the legislation in the near future.As it now stands, the federal tax credit will be extended through April 30, 2010, with a 60-day extension if a binding contract is in place prior to the deadline. First-time home buyers will continue to be eligible for a tax credit of up to $8,000, while existing homeowners will be eligible for a reduced credit of … (4 comments)

Foreclosure flood fails to materialize in Sacramento area - 11/03/09 07:07 PM
People who watch housing prices have predicted for months that another deluge of foreclosed homes would soon hit the market - once again crushing Sacramento-area property values.
But the flood of bank repos hasn't materialized. And now, a leading California foreclosure analyst says it probably won't.
"From the things I'm seeing, there's not going to be a wave any time soon," said Sean O'Toole, president of ForeclosureRadar, a Contra Costa County firm that tracks mortgage defaults and foreclosures.
Despite a growing number of loan defaults and delinquencies, O'Toole said banks are now selling more homes than they're repossessing - and political … (0 comments)

IRS Investigates Home Tax Credit Claims - 11/02/09 06:19 PM
The Internal Revenue Service is investigating more than 100,000 claims for the First-Time Homebuyer Tax Credit that may be unjustified or even fraudulent.The IRS has identified 167 of what it calls "criminal schemes" involving the credit. The IRS refused Monday to elaborate about the problem.Bonnie Speedy, AARP tax-aide director, blamed the post-closing filing procedures for the problem, saying people who weren't entitled to the credit could too easily claim it. "People are filing for the credit who don't have a right to file for it," she says.Source: The Wall Street Journal, John D. McKinnon (10/20/2009)
Doug's Take:  Well, i for one … (5 comments)