"Did you get the memo?" - 05/25/10 07:53 PM
Ok, it's not quite that but when i heard the recent update from the Franchise Tax Board about the California home buyer tax credit it reminded me of the many funny scenes from "Office Space."
The California Franchise Tax Board (FTB) recently released an update on the California home buyers' tax credit alerting borrowers to fax delays it is experiencing.  Due to the high volume of faxes, borrowers may experience delays or difficulties in connecting to the fax number during the FTB's normal business hours.  It may take several minutes or possibly up to an hour to connect and transmit the … (0 comments)

What's the Deal with Commissions? - 05/24/10 07:03 PM
How much is the commission?  Who pays for what?  When is it paid?  I get asked these questions and much more about commission on a very regular basis.  As a real estate agent you just assume that everyone knows how commission works.  That's just not case, even with sellers that have owned multiple properties before
In California, it's traditional that the sellers pay the commission.  The most common amount is 6% of the selling price but anything is negotiable.  From there the listing agent (the one representing the seller) lists the property on the MLS and offers a portion of that … (4 comments)

Real estate's new problem: Not enough homes - 05/22/10 01:49 PM
cnnmoney.com, may 11, 2010
Can it be possible? Despite the housing bust and high foreclosure rates, in some areas real estate agents are complaining that they don't have enough homes to sell.
In California, almost all cities have a short supply of single-family homes. That's especially true in the lower-priced categories, according to Leslie Appleton-Young, chief economist for the California Association of Realtors.
The supply of homes that sell for less than $300,000 is at 3.2 months statewide, down from an already low 3.3 month supply 12 months ago. (6 month supply is considered a "normal market")
Inventory of moderately priced … (1 comments)

Lenders likely to order second, last-minute credit report before closing on a mortgage - 05/21/10 02:53 PM
LA Times, May 16, 2010
Changes taking effect June 1 are part of Fannie Mae's 'loan quality initiative' to cut down on slipshod underwriting and fraud by borrowers.
If you're thinking about applying for a home mortgage this year, here's some important news: Beginning June 1, your lender is likely to order a second full credit screening immediately before closing.
The last-minute credit report will be designed to find out whether you've obtained - or even shopped for - new debt between the date of your loan application and the closing. If you've made applications for credit of any type - … (0 comments)

May/June 2010 Sacramento Real Estate Market Update - 05/18/10 01:30 PM
Doug Reynolds, a Sacramento Realtor, provides an analysis of the local market. This month focusing on the new California homebuyer tax credit (and expiration of Federal tax credit), the details of the new HAFA/Short Sale program and forecasting the summer months. More information can be found at his website, www.BuyWithDoug.com, as well as his blog and Facebook page( Doug Reynolds Real Estate). … (0 comments)

Federal Tax Credit has expired but... - 05/14/10 02:58 PM
The expiration of the 2010 Home Buyer Tax Credits on April 30 is unlikely to put off Americans looking to purchase homes who believe now is a good time to buy and are confident that home prices will rise according to a survey released by Prudential Real Estate and Relocation Services, Inc., a Prudential Financial, Inc. company. The survey of 1,000 Americans between the ages of 25-64 with at least $35,000 household income was conducted during April 15-20, 2010.
More than 90% of consumers believe that the home buyer tax credits have helped both first-time home buyers and the U.S. housing … (2 comments)

(College Greens/Glenbrook, Rosemont) Sacramento 95826 Sales Data - April 2010 - 05/13/10 03:24 PM
Here is the sales data information for closed sales in April 2010:
All of the 95826:
34 Sold Single Family Homes.
Average Square footage: 1,548
Average Listing Price: $ $209,354
Average Sales Price: $ 205,199
Median Days on Market: 23 days

College Greens/Glenbrook:

11 Sold SFR's
Average Sq. feet: 1,630
Average List: $ 247,427
Average SOLD: $ 241,636
Median DOM: 25 days
Rosemont:

22 Sold SFR's
Average Sq. feet: 1,516
Average List: $ 192,198
Median SOLD: $ 188,670
Median DOM: 20 days
As of Today (May 13, 2010) here's a snapshot of both markets:
College Greens/Glenbrook: 28 Active listings, 14 Active Short Sale/Contingent, 7 Pending.
Rosemont: … (0 comments)

Sacramento County Housing Statistics for April 2010 - 05/12/10 04:38 PM
The market stats for Sacramento County were just released.  The median price trickled up this month from $182k to $185k.  Not a big jump but what we've been seeing over the past year, the median price bouncing around on an upward trend.  The inventory also increased slightly to 2.4 months, still considered a sellers market.  The current trends of homes selling with multiple offers for list price within a few days and the median price edging up should at least continue through the summer months are the tax credits are coming to a close.

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

Sacramento County - Quarterly Real Estate Report - 05/11/10 06:52 PM

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Sacramento Market still HOT for now... - 05/10/10 06:26 PM
As many of you know i've been blogging regularly about two particular topics: the end of the Federal Homebuyer Tax Credit (April 30th) and how the 250k and below price range has been extremely hot for the last year (seller's market, multiple offers in a few days, homes selling for over list price).  Well, the tax credit is definitely one factor with the lower priced homes being such a hot market.  First time buyers were seeing the bottom of the market, low interest rates and with the tax credit, just couldn't resist.
As the end of the tax credit was drawing … (0 comments)

Just Listed!! Excellent Antelope property, 3 beds, 2 bath, 3 car garage - 05/05/10 07:13 PM
Excellent Antelope Home 8445 Story Ridge Way, Antelope, CA 95843 View Map REGULAR SALE! NO bank owned or short sale problems here. This home shows true pride of ownership. Turnkey home is ready for you to move in & won't last long. High Vaulted ceilings, large & open living room w/ fireplace, dual pane windows & ceiling fans, tile roof, 3 car garage, beautiful landscaping w/ private & serene backyard, dog run, storage shed, possible RV access, around corner from CA distinguished elementary school. This home has it all & a great location near shopping, schools, park
Details Asking Price: $189,00 … (0 comments)

Sacramento County Farmers Markets - 05/04/10 06:51 PM
Farmers Markets are a great place to shop for produce through out the spring and summer months.  Here's locations throughout Sacramento County.

Markets in SACRAMENTO County
 
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