first time homebuyer: Investment firm starts buying hundreds of Homes in Sacramento area - 11/26/12 09:03 AM
Here's an interesting article that appeared on the front page the Sac Bee, Sunday 11/25/12.  As i've been sharing on this blog and in my YouTube market update videos, the inventory in sacramento is extremely low, the buyer competition is very high and cash buyers are making up 1/3 of the market right now.  This article talks about a huge company that is purchasing homes in Sacramento at lightning speed.  It's almost scary how many properties this company has purchased in such a short period of time.  I recently represented a seller of one of the homes they purchased with cash … (6 comments)

first time homebuyer: Changes in F.H.A. Fees - 04/25/12 08:44 PM
As the cost of FHA financing continues to go up, Conventional financing is gaining more and more traction with First Time home Buyers.  I have an excellent loan officer that offers 5% conventional financing that ends up being a better loan product in most cases than FHA.
 

 
FEES charged on mortgages backed by the Federal Housing Administration are set to change this spring; they’ll go up for some and down for others.
 
In a nutshell, here is what’s happening: Fees for refinancing will fall sharply, as the upfront mortgage insurance decreases to 0.01 percent of the base loan amount, from 1 percent, starting on … (0 comments)

first time homebuyer: Talking Points - 04/16/12 11:10 AM

On closing day, most home buyers are excited about the prospect of moving into their new home.  One important final step must be accomplished before settlement: A final walk-through. While plenty of buyers whip through each room with a glance, eager to unpack, real estate experts suggest home buyers are better served by a slow and careful inspection. While some REALTORS® recommend conducting the final walkthrough hours before closing, others advise doing the walkthrough the day prior.  However, if a significant weather event has occurred between the last time the buyer saw the house and settlement day, like a windstorm, … (1 comments)

first time homebuyer: Doug Reynolds Real Estate has upgraded their Marketing Department to better serve Buyers, Sellers and Investors in Sacramento Real Estate - 03/27/12 02:42 PM
We’ve Upgraded our 
Marketing Department !!!



  My Daddy is working hard every day to provide you with great real 
estate content so that you can stay up to speed with the current
 market. Pwease like him on Facebook, Subscribe to his YouTube
 channel and follow his blog.  New stuff is added nearly every day
 and it’s also a great way to refer a buddy, co-worker, family
 member or play-date that needs to buy or sell in the Sacramento
 Area.  Did you know that: there is currently more demand for
 houses in our area than there is supply and that a few more homes
 on the market in our area would be a good thing, the current
 buyers would quickly absorb that extra supply…or that Mortgage
 interest rates are now lower than they have ever been in history. 
 Well, don’t worry, my Daddy knows all that and even more.  Thanks
 for supporting him.
.


Gold fishes and cartoons,

Daddy's Little Girl


  Doug Reynolds
916.494.8441
www.SellWithDoug.com
 
             
 

 

 
 
He loves referrals. It means he can work with people just like you!
 
… (0 comments)

first time homebuyer: How Low Can Rates Go In 2012? - 02/14/12 03:15 PM

By VICKIE ELMER – New York Times
 
IF your New Year’s resolutions include buying a house or refinancing, the Federal Reserve has you covered. It has committed to keep long-term interest rates low through next year, so a 30-year mortgage will be pegged about where it is now — 4.32 percent in New York — at least through spring, said Frank E. Nothaft, the chief economist at Freddie Mac.
 
“Rates are very much at the bottom,” Mr. Nothaft said. But, he added, they may start inching up in the second half of the year. “If you’re planning to … (1 comments)

first time homebuyer: 2005 vs. 2012, What Buyers Are Using To Purchase Homes In Sacramento - 02/14/12 02:33 AM
Doug Reynolds, a Sacramento Area Realtor, takes a look at how buyers are purchasing homes in 2012 compared to 2005.  In 2005, conventional financing dominated the market, now there is a balance between cash, FHA and conventional purchases.  Take a look at the astonishing chart in the video to see how the market has evolved over the past 7 years.  Some very shocking numbers when you look at it.  What do you think?  What type of financing did you use for your purchase?
… (0 comments)

first time homebuyer: Rosemont Sales in January 2012 (Sacramento, Ca) - 02/04/12 03:21 PM
There were 17 homes sold in Rosemont in the month of January, 2012.  That is slight decrease from the 19 that sold in  December .  Here are the addresses and specific information.
 

 
 
 
Currently there are: 17 Active listings, 11 Active short sale listings, 24 Contingent Short Sales  and 34 Pending Sales
 
If you would like more information (pictures, listing history, what type of sales they were, etc.) feel free to call or email and I’d be happy to provide that for you.  Call or email me if you are looking to buy or sell in the 95826 … (0 comments)

first time homebuyer: What Your Remodeling Contract Should Say - 02/01/12 04:12 PM

By: Oliver Marks
Review your remodeling contract carefully and adjust it to make sure it protects you in terms of payments, work schedules, and project specifications.
The essential job of a construction contract is to spell out the project’s “scope of work.” This is the document you and your contractor will consult throughout the job, so make sure it’s as detailed as possible.
Some states require the contractor to write his license number on the document and to include a clause that allows you to rescind within a certain time period after signing. Check your state laws to learn what your construction contract … (1 comments)

first time homebuyer: Energy Efficiency: Pick Upgrades that (Actually) Drive Down Costs - 01/30/12 03:09 PM

By: Lisa Kaplan Gordon                                                                   
A new study says home owners won’t see their utility bills drop until they’ve conducted four or more energy upgrades. Here are projects that will give you the greatest bang for your energy buck.
I’ve long suspected that saving energy is like saving calories: Small measures add up, until a Thanksgiving pecan pie — or a dazzling holiday light display — wrecks a year’s worth of small though consistent efforts. Evidently I’m right, according to a new study claiming that doing a couple of small, energy-saving measures actually increase utility bills. And that a home owner must perform at least four energy … (1 comments)

first time homebuyer: 8 Tips for Finding Your New Home - 01/25/12 10:01 PM
 

By: G. M. Filisko
A solid game plan can help you narrow your homebuying search to find the best home for you.
1. Know thyself Understand the type of home that suits your personality. Do you prefer a new or existing home? A ranch or a multistory home? If you’re leaning toward a fixer-upper, are you truly handy, or will you need to budget for contractors?
2. Research before you look List the features you most want in a home and identify which are necessities and which are extras. Identify three to four neighborhoods you’d like to live in based … (0 comments)

first time homebuyer: Sacramento County Real Estate Update January - February 2012 - 01/24/12 10:23 PM
Doug Reynolds, a Sacramento Realtor, provides an analysis of the local market statistics from December 2011. This month discussing how inventory is still on the low side at the time, and sales were strong for December. He also discusses a strategy for buyers to get their offers accepted in this competitive low-inventory market.  Using a lender rebate can provide a way for cash strapped buyers to avoid needing a credit from sellers.  More information can be found at his website, www.BuyWithDoug.com, as well as his blog and Facebook page (Doug Reynolds Real Estate). Become a fan of his YouTube page and … (0 comments)

first time homebuyer: American Dream Homes Turn Green - 01/19/12 11:32 AM
By Rusty Weston, Yahoo! Real Estate
Despite historic problems plaguing the U.S. housing market such as tumbling values, record foreclosures and tight credit for buyers, a new Yahoo! Real Estate survey of current and aspiring homeowners indicates that owning a home is still a major part of the American dream.
“Green homes have gotten a bad name because most stories are told about super energy efficient homes,” explains Sarah Saranka, architect and author of several “Not So Big House” books. Hyper-efficient, eco-friendly homes, the ones most closely associated with green living, “consume almost no energy – they’re essentially off the grid,” … (0 comments)

first time homebuyer: Is Housing Bouncing Back? - 01/18/12 11:07 AM

 
By Neil Irwin, Washington Post The deeply depressed housing sector finally seems to have found its bottom — and may even be starting to bounce back.
A wide range of housing indicators — construction, home sales, prices — have stabilized in the past few months, although they remain at historically very low levels. And it looks as if construction activity in particular will pick up in 2012.
 
The latest evidence of the momentum — new-housing starts for November — was released Tuesday. The surprising 9.3 percent gain bumped the rate of new-housing construction to its highest level in 19 months, to a … (2 comments)

first time homebuyer: Freddie: Low Mortgage Rates to Hang Around Next Year - 01/17/12 11:43 AM

By Drew FitzGerald
Mortgage rates are expected to remain very low at least through mid-2012, while housing activity improves slightly, according to Freddie Mac’s economic and housing outlook released Wednesday.
The outlook also projects fewer single-family home-loan originations but more multifamily lending in 2012. The rental market is likely to lead growth in the lending industry, though parts of the country will also benefit from increased activity in the single-family home market.
High unemployment and a glut of foreclosed properties have depressed the housing market in recent years, despite extremely low interest rates that have made borrowing more attractive.
“While … (1 comments)

first time homebuyer: What went wrong with foreclosure aid programs? - 01/13/12 11:27 AM

By Julie Schmit, USA TODAY Steven and Lisa Maultsby lost their Mississippi home to foreclosure this year.
At the time, they thought they were being reviewed for a loan modification through the U.S. government's foreclosure-prevention program.  A Realtor knocking on their door to tell them to vacate told them otherwise.
"I'm bitter," says Steven Maultsby, 51, who works with undersea robots in the oil industry. "We did everything they told us to do."  The Maultsbys are angry not only at their mortgage company, but also at the government, and they're two voices among a discontented chorus.
The Obama administration's initial … (1 comments)

first time homebuyer: December 2011 Housing Statistics - Sacramento County - 01/12/12 09:26 PM
Month-to-month sales increase 8.9%, lowest December median since 2000

 
Sales increased for the month to 1,668 units sold, up 8.9% from the 1,531 closed escrows last month. Year-to-year closed escrows were also up (10.9%) from the 1,504 units sold last December. Making up the closed escrows this month were 561 REOs (33.6%), 490 short sales (29.4%) and 617 conventional sales (37%).
 
The median home sales price dropped this month to the lowest December median since 2000 ($148,000). This is a 2.4% decrease from the $165,000 median sales price of last month. The chart below shows the rise and … (1 comments)

first time homebuyer: Mortgage debt at lowest level in nearly 5 years - 01/12/12 11:57 AM

John Gittelsohn,Kathleen M. Howley, Bloomberg News
U.S. mortgage debt, a driver of consumer spending during the real estate boom, dropped to the lowest level in almost five years in the third quarter as foreclosures wiped out home loans and housing purchases fell.
The volume of outstanding home mortgages declined to $9.88 trillion from $9.94 trillion June 30, according to Federal Reserve data released Thursday. The reading was the lowest since the end of 2006. Mortgage volume peaked at $10.6 trillion in early 2008, the final months of a decade-long borrowing binge.
Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/12/08/BU7U1MA2OB.DTL#ixzz1iQ7V0JUl
… (0 comments)

first time homebuyer: HouseLogic’s Top-10 List of New Year’s Resolutions for Your Home - 01/10/12 08:42 PM

By: John Riha
Published: December 30, 2011
When the new year arrives, promises and resolutions abound. Here’s the top-10 list of what the resolute home owner should accomplish this year.
Ready for 2012? Here it comes:1. Lose weight (cut energy use)2. Quit smoking (purify indoor air)3. Get out of debt (budget for improvements)4. Learn something new (educate yourself on home finances)5. Get organized (de-clutter)6. Volunteer (support your community)7. Drink less (curb home water use)8. Spend more time with the family (share home improvement projects)9. Get fit (exercise your DIY skills)10. Be less stressed (use maintenance-free materials)
1. Lose weight (cut energy … (2 comments)

first time homebuyer: A Quick Look a California Real Estate - 01/09/12 10:24 PM

California pending home sales fell 9.1 percent in November but were up from a year ago, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ Pending Home Sales Index (PHSI)*.  However, the index was up 11 percent from November 2010, marking the seventh consecutive month that pending sales rose from the previous year. Pending home sales are forward-looking indicators of future home sales activity, providing information on the future direction of the market. At 55.1 percent, equity sales made up more than half of home sales in November, up from 53.9 percent in October and 54.4 percent in November 2010. The total … (2 comments)

first time homebuyer: Sierra Oaks, Wilhaggin, Del Dayo and Shelfield - Sales Data for December 2011 - 01/09/12 09:59 PM
There were 6 homes sold in Sierra Oaks, Wilhaggin, Del Dayo and Shelfield in the month of December 2011.  This is a vast decrease from the 15 sold in November.  Here are the addresses and specific details:

 
 
Currently there are: 43  active listings, 6 active short sale listings, 9 contingent short sale listings, and 8 pending sales.
If you would like more information (pictures, listing history, what type of sales they were, etc.) feel free to call or email and I’d be happy to provide that for you.  Call or email me if you are looking to buy … (0 comments)