Tamara 's Blog

Clearing and Cleaning, or, Fall Feng Shui

Tamara Dorris (Davis & Davis ) — Fri, 20 Nov 2009 13:11:32 -0600

Most of us always think of the major home overhaul as "Spring Cleaning," and don't get me wrong, I'm a big spring cleaner. However, something over takes me this time of year and I've come to call it, "Fall Feng Shui," or simply put, the pre-holiday de-clutter ritual.

Whether or not you believe in Feng Shui, the ancient art of placement that our Asian friends have been applying for a couple thousand years, is not the point. In fact, you don't need to know a thing about Feng Shui in order to understand and recognize that the "feeling' of a place can affect your mood. When you walk into your living room, do you feel light and happy and energetic, or are you trying to make your way through the boxes and bunches of stuff that has been accumulating all summer?

This weekend, the pre-turkey day weekend, is the one I typically choose to perform my semi-annual cleaning and clearing ritual in order to prepare-pare for the holidays. It's so funny how we forget or overlook our own messes and clutter because we look at them each day. I just realized I still have my frog-feet for swimming sitting on top of the washer, and books from reading all summer on the patio, still outside...starting to get their covers curled.

So, below I've made a list of some of the things you can do to help prepare your home for the holidays, while creating a better space for you to live and work in:

1) Take an unbiased look at each room. Pretend you've never been in your house before...or else actually ask someone else to take a look...and make note of what things seem to be in the way. Are their boxes, piles of old magazines that you've saved but probably won't read again, broken items that you've meant to get fixed....since May? It's best to tackle one room at a time, as it might otherwise get overwhelming. Just collect all the "stuff" that seems to be out of place and in the way and find a new home for it. Feng Shui practice tells us that the pathways in and around our home should be clear and clutter-free and flowing.

2) Move stuff around. Even if you're only moving it around to clean underneath it. Seriously, the only time I move my couches and chairs to vacuum underneath them and inside the cushions is these few times per year. I like to make sure everything is spic and span before the tree goes up and my mother-in-law comes through with her white glove test. Seriously (my mother in law doesn't own white gloves), you might find lost items, loose change, and hair balls that you would die if a friend saw. Move it and clean it. Also, I often find that between de-cluttering and moving, I discover a new way I want to arrange things that I like better, giving a whole new look and feel to a room.

3) Open windows. Yes, I know, for some of us that can mean freezing air, however, one of the golden rules of Feng Shui tells us that fresh air is good energy. And let's face it, fresh air is good for us. In the fall and winter months, with colds and flus going around, doors and windows shut, wood buring stoves and heaters on, the air can get just plain stuffy. I'm not advocating you live in an ice box, but I am suggesting you pick the warmest time of the day and just open up a few windows or doors, even if just for a few minutes. Turn the heat off if you are concened about your bill, turn on a ceiling fan to circulate the air, and enjoy the freshness. You can find me with a sweatshirt, mittens and scarf as I prance around to stay warm, cleaning the house and letting all that fresh air come in and refresh my house.

4) Clean deep. Since this semi-annual cleaning thing only happens, well, semi-annually, this is no time to take short cuts. Trust me, I have more collectibles than anyone I know...lots and lots of knick knacks and shelves that are full of "stuff." I take everything off, down and out and clean it methodically. I get out the stepping stool and clean fans and ceilings and crevices that get overlooked during normal cleaning events. Pull out the wood oil and notice how new you can make that coffee table or bookshelf look. Steam clean the carpets, clean the inside and outside of all the windows. If you can, wash or dry clean window coverings, clean blinds, and vacuum couches and chairs. I actually hire someone to help me since this cleaning is an all-day event for at least two people.

5) Seal the deal with a moment of appreciation. I find that finazling the ritual makes it all the more special. I light some candles, pour a glass of good red wine, and just sit to admire my work. I think about where I'll put the Christmas tree and decorations this year, what I'll serve for dinner and who I'll invite to parties. But more than anything, I remember what I am thankful for. It IS that time of the year after all. I let myself feel deep appreciation for the home I have to clean, the people who will be in it that I am honored to love and all the wonderful things I have in my life.

So as the holidays approach, consider a de-cluttering of your own home. Make a pile of all that stuff and give it to someone less fortunate than you who will appreciate it so much.

When our environments are clean and clear, os are our hearts and minds.

Thanks for reading,

Tamara

Visit my blog at www.InLoveWithSacto.tv, Listen to my radio show at www.InLoveWithSacto.com

Pre-Approval, Baby!

Tamara Dorris (Davis & Davis ) — Thu, 19 Nov 2009 16:06:35 -0600

Visit my blog at www.InLoveWithSacto.tv, Listen to my radio show at www.InLoveWithSacto.com

Bringing it Back to Sac

Tamara Dorris (Davis & Davis ) — Tue, 17 Nov 2009 20:10:09 -0600

Now that I’m back from my fun in the sun (not really, it was actually cloudy and I was inside anyway!) in San Diego, I’ve had a chance to absorb all the great things I learn.

Contrary to how fun it may seem to zip off to the sea shore, I really am a homebody. I love my little Carmichael community, my business community, my friends and family. I also don’t like to leave my four, yes four, cats, two dogs, four kids, lots of fish, and one husband for any length of time. And, as I’ve said a hundred times, Sacramento is home, and there’s no place like home.

However, a couple of times a year I find that taking a trip for a worthwhile real estate learning opportunity makes me a better agent. What is a better agent? An agent who can provide her clients with greater service, for one thing. And, for another thing, anything I can learn, or tools I can discover that help streamline my business are going to still serve to make me a better agent, right? If I can find a tool that cuts down my record keeping time, that gives me more time to serve my clients. If I can find a tool that prepares better CMA’s, my clients again benefit.

One thing I am super excited about is becoming a designated “Green” Realtor. That means, once I finish the course, I will be able to better assist buyers and sellers in operating a more sustainable lifestyle and home selling/purchasing presence. This is good stuff which I will be writing a lot more about for Sacramento residents who are concerned with the carbon footprint they might be leaving for their children.

Right now, I am simply trying to absorb all this information, find my new buyers a great deal, help my community in whatever way I can, and plan for a rockin radio show tomorrow with Ed “The Money Man” Wacaster.

Ta ta for now Sacramento!

Listen live to real estate radio for Sacramento residents at www.InLoveWithSacto.com at 10 AM every Wednesday

Tamara

Visit my blog at www.InLoveWithSacto.tv, Listen to my radio show at www.InLoveWithSacto.com

The Best of NAR 2009 Expo - Real Estate Technology

Tamara Dorris (Davis & Davis ) — Tue, 17 Nov 2009 14:37:29 -0600

Via Brad Andersohn ~ Community Manager (ActiveRain):

The Best of NAR 2009 Expo - Real Estate Technology

NAR each year is always packed with great sessions, speakers, topics and presenters. There's no way to see and do it all! One of my favorite parts of the Convention is walking around, meeting people in the hallways, hugging old friends and shaking hands with new ones. This year, William Shatner was one of the special guests at NAR, but unfortunately, I didn't get the chance to sign him up on ActiveRain.

My absolute favorite is "cruisin" the EXPO and seeing all the "NEW" stuff that's being displayed. Many of the tools and services presented will have an affect and impact on the ways business will get done now, and in the future.

To See the more than 375 Booths and vendors that were there, here's an interactive floor-plan you can visit.

NAR always brings back some of the same vendors you see year after year, but I still like to stop by and see them, and how their products have changed or improved. Then there's all the new technology stuff I haven't seen or heard of yet. When I found a booth or vendor with a name I didn't recognize, or if they that had something I hadn't heard of, I'd ask them, "In a sentence, tell me who you are, what you do, and what does your company provide?"

So if you were unable to make it to NAR 2009 in San Diego this year, I hope you'll take a moment to let me be your eyes, your ears, and your feet at NAR, and enjoy this condensed version of "A Day with Brad at the NAR EXPO" and see a few of the "highlights" that I thought were some of the "Best of the NAR Expo."

THE NAR 2009 "RAINCAMP" DRAWING WINNER!

We collected Business Cards and had a drawing at NAR for 2 RainCamp tickets and $100.00 American Express Card and the winner was....drumroll...Tamara Dorris from Sacramento, CA. Congratulations Tamara, we're looking forward to seeing you at RainCamp.

"RainMaker" Special - Signup Here and Get New Member Discount

Visit my blog at www.InLoveWithSacto.tv, Listen to my radio show at www.InLoveWithSacto.com

Back in Sac!

Tamara Dorris (Davis & Davis ) — Mon, 16 Nov 2009 16:25:32 -0600

There is no doubt I learned a lot the past five days. I took a trip down to beautiful San Diego to learn more about how I can help my clients in Sacramento. This real estate convention, hosted by the National Association of Realtors, pulled in about 6,000 Realtors, if you can imagine that. Wow! It was great to see so many pals, both old and new, both those I have known through traditional means and those I have only “met’ via social media outlets.

The classes and the panels were great. I’ve signed up for a “Green” designation so that I can better understand how to help Sacramento residents buy and sell and live in accordance to sustainable practices. I do see this as being a critical component of our future, so we may as well start now. Recycle, save energy, buy used when you can and pay attention to ingredients and material used. All this stuff counts, trust me!

Besides enjoying the beach in San Diego, the dining was awesome. I swear there must be a thousand places to eat in the Gas Lamp District. Oh, and the shopping? Well, let’s just say I spent my allowance for the next six months!

I also learned more about foreclosures, short sales and the upcoming economic conditions. It’s very exciting for me to learn more about these important topics so I can share them with my clients and with my radio show listeners (you ARE one of my radio show listeners, right?). All in all, the trip was well worth the time, money, energy and effort that was required, but I gotta tell ya, when it comes down to it, there is no place like home!

On the flight home, we noticed a whole lot of really tall, handsome young men, who turned out to be the San Diego State Basketball Team. The college team was here to play Pacific U, and we wished them loads of luck. One of the players asked me where we like to have fun in Sacramento.

I could only smile, since we all know that there are a TON of places in Sacramento to have fun in. Whether you like art, dancing, theater, romance, nature, the movies, church, bingo, name it and we got it. And that’s what I told him. “Sacramento has everything!” I also mentioned he ought to take a stop by Arco Arena and see how our guys play ball.

It was a good trip, but I’m glad to be back in Sac!

Tune in to the radio show this week where you can hear all the latest and greatest about what’s going on in the Sacramento Real Estate Scene, with special guest, Ed “The Money Man” Wacaster.

Show time: Wed. 10 AM PST at www.InLoveWithSacto.com

Ta ta for now,
Tamara

Visit my blog at www.InLoveWithSacto.tv, Listen to my radio show at www.InLoveWithSacto.com

Are You Like Rudy?

Tamara Dorris (Davis & Davis ) — Tue, 27 Oct 2009 14:17:29 -0500

When I used to teach English to college kids, one of the things I did each course was show the movie, Rudy, the story of a kinda small kid who ate, lived and slept Notre Dame football. All he wanted, with all his heart and soul, was to play for the "Fighting Irish."

Unfortunately, Rudy was not big enough to play ball--especially on this revered team. Also, his grades were not good enough for him to come anywhere near admission into Notre Dame. If you happen to be one of those very rare folks who have never seen the flick, here's a video clip.

I am fortunate enough to get to interview the "real" Rudy on my show tomorrow. Yes, the guy that the true story was based on. Rudy walks the walk. Even though many years have passed since that noted 27 seconds on the football field, his life was, is and will always be an example of absolute faith and perseverance. Rudy did not give up when he was told that something was impossible. And really, if you saw the movie you know he was told "no way" a million times. Even his own family couldn't believe it was at all possible that Rudy could even be a bench warmer for their beloved state team, The fighting Irish.

Now let's compare and contrast that with your real estate business (there I go, sounding like an English professor again!).

Sure, the recession and the economy have got some of us down. In fact, Thanks to Active Rain and twitter, I have Realtor friends all across the country and more than a few of them have told me that they've had to pick up part time jobs.

So What?

Rudy had to sleep in the cleaning room and eat what he could find...but those things were SMALL in comparison to the ultimate realization of his dream. So you have to pick up a job at Starbucks a few hours a day. So what? As long as you have a place to sleep at night and enough food to survive, you CAN still sell houses or lend money. Sure, times are tough for some of us, but it's only those of us who take our eyes off the ultimate prize that tend to falter in our actions and effectiveness.

As long as you hold close that dream....selling so many houses you can't see straight, making the difference in so many lives of people you can help, taking good care of your family and making enough money to give to the charities and causes of your choice...as long as THAT is what you focus on, then you will ultimately succeed. And, the "stuff" you have to do in the meantime, whether it's taking on another "real" job, cutting out coupons, scaling back on Christmas or knocking on doors and doing a little cold calling...is all worth it.

In reality, if you post everyday, attend local social networking events and partake in the social media outlets that work for you, you probably won't have to cold call or get another job, but even if you do, so what. As the saying goes, "This too shall pass."

Just think of Rudy.

"You're 5 foot nothin', 100 and nothin', and you have nearly a speck of athletic ability. And you hung in there with the best college football team in the land for 2 years. And you're getting a degree from the University of Notre Dame. In this life, you don't have to prove nothin' to nobody but yourself." --Fortune (as played by Charles S. Dutton) in "Rudy."

Show time: Wednesday October 28th, 10 AM PST time (California) at www.InLoveWithSacto.com
You can catch the podcast later if you miss the show.

Thanks!
Tamara

Visit my blog at www.InLoveWithSacto.tv, Listen to my radio show at www.InLoveWithSacto.com

Sacramento Online Publication Leads the Way

Tamara Dorris (Davis & Davis ) — Mon, 26 Oct 2009 17:46:13 -0500

There’s a new kid in town and we better pay attention. The Sacramento Press is making headway in a big way and I’m completely sold on the concept. The Press is an all online newspaper that focuses on local news for those of us who reside in Sacramento and the surrounding counties (Sacramento, Placer, Eldorado and Yolo Counties are covered).

I remember growing up, my mother had a subscription to the Sacramento Union. She said she preferred it to the Sacramento Bee because it was much more succinct and easier to read. Perhaps she liked the political slant, I really can’t say. What I can say, however, is that once The Sacramento Union went under, we were left with one resource for local and national news.

Now make no mistake, I am not bad-mouthing The Bee. Nevertheless, I have always been of the opinion that there should be more than one opinion in the way of reporting news. I stopped subscribing to the paper a few years ago. Too much to read, wanting to save trees and all that jazz. If I wanted to know what was going on, I would go to the online version of The Bee and see what was in the news.

Now I’m bookmarking www.SacramentoPress.com. For one thing, I appreciate that the publication reflects the local voice. One needn’t be a prized journalist to write an article. In fact, The Press is currently featuring a very cool contest where Sacramento folks can enter an article and win prizes (hurry, the deadline is Halloween night!).

Secondly, The Press covers local events that might not be “big enough” news for The Bee. I like the tone of the publication too…easy to read, covers not events, but politics and culture too. Most importantly, anyone can write anything, but let me clarify. First, you must register for the site. Second, you must adhere to The Press’ policy (which are ultra-agreeable). That’s about it. Oh yeah, no state or national news. This is Sacramento, Baby, and we only want stories in, about or that affect our own sweet town.

No go take a look at this new pub and tell me you don’t think it’s the neatest thing on the Net.

Ta ta for now,

Tamara

Catch my local radio show about self help and Sacramento...this week's guest is the "Real" Rudy from the famed movie by the same name. www.InLoveWithSacto.com

Visit my blog at www.InLoveWithSacto.tv, Listen to my radio show at www.InLoveWithSacto.com

Understanding Fixers

Tamara Dorris (Davis & Davis ) — Wed, 07 Oct 2009 18:16:09 -0500

If I could count the number of times I heard a buyer say, "...and I don't mind a fixer," I would be a very wealthy woman. Truth is, most of us wouldn't mind a fixer of some kind. After all, it's an age-old real estate truth that the best buy is the worst house on the block. My first broker told me, get the dog of the street and you've got built-in equity.

Now while all this is true, in this market, I think some kind of clarification is due. Long gone are the days when you can buy a piece of land in Carmichael with a shaky shack atop it, with big plans to tear down and start over, all with the bank behind you.

Yep, the bank.

The first and worst problem with "fixers" today is that if you've got to get a loan to buy the house (and nearly everybody does) then you are limited into how much fixing can be overlooked. For instance, with FHA loans, the home needs to be habitable. That means, no broken windows, missing carpet, roofs in need of repair or broken heating and air. That sure doesn't leave much to the "fixer" concept, now does it? I guess some peeling paint might be okay, although if the home was built prior to 1978, you might have lead-based paint issues that FHA would pooh-pooh about.

Of course, there is an FHA 203 loan that is actually a loan for rehabbing a house, but we won't get into that here as it's really a whole other matter.

So take your conventional loan. And, take your fixer upper. Getting the house will depend upon a few things, but most of all, two things: Your loan qualifications and how much fixing needs to be done.

If you've got super shiny crazy-good credit and 20% to put down, well then, you have a good shot at a good loan with a low interest rate and a house that needs some moderate fixing. I will not qualify "moderate" as it can mean any number of things. However, let's just say that the house needs a bit more than repainted and floored.

If you're not in quite such a comfy position, consider houses that are cosmetic fixers. These houses can appear to be real dumps; pink walls, missing appliances, broken floor tiles, missing bedroom doors and strange symbols painted on the ceiling. (yes, I've seen it). In these cases, yards may be a force to be reckoned with and fences may be falling down (which is okay, because fencing doesn't come into the appraisal), and the houses can look really, really bad, but still, it's all only surface repair and update, hence the term "cosmetic fixer." In these cases, you're probably getting a good deal and you'll probably be okay with financing.

However, when the appraiser comes out, and he always will, then any major overhaul works, structural, roof featuring unplanned on sunroof (i.e. holes in ceiling!), you'd better be sure your ducks and financing are all in a row in order to find the funds to buy the house to do the fixing.

Hopefully this brief but well-meaning discussion got you thinking about what you really mean when you tell your agent you are looking for a "fixer-upper," because now you know, financing comes into play and helps you decide how much fixing you really can afford to buy.

The bottom line is this (and it's the bottom line I use so often, I should just make it my default footer): Find a real estate agent who knows what the heck is going on in the real estate market and a lender who knows what the heck is going on in financing. Your goal is to get the most (or perhaps in this case, the least) house for the money at the best rate and terms.

Good luck!
Tamara

Catch my Sacramento Success Radio Show on each Wednesday at 10 AM at www.inLoveWithSacto.com. We chat a bit about real estate, self-help, health and local businesses.

Visit my blog at www.InLoveWithSacto.tv, Listen to my radio show at www.InLoveWithSacto.com

Helping One of Our Own

Tamara Dorris (Davis & Davis ) — Fri, 02 Oct 2009 14:56:40 -0500

Friends,

I recieved this email from Sergio Siderman, Esq, the president and CEO of NDA (National Disclosure Authority) and thought it was worth passing on. Please read the email below and make a donation if you can, or spread it even further by re-blogging it. You can read more on this page: http://www.ndareports.com. Thanks!

I’m Sergio J. Siderman, President and CEO of the natural hazard disclosure company, NDA. Today, however, I’m writing to you as Sergio, friend and coworker of Paul Ellis.

If you’ve been a Realtor in California in the last decade, you probably know Paul Ellis. He’s the NHD salesman who always greets you with a smile and just wants to know how he can help you. I’ve worked with Paul for over 10 years and have never met anyone more dedicated to his family, friends, and clients.

What you don’t know is that Paul’s family is in trouble.

Paul and his wife Traci are the proud parents of four beautiful little girls – Abby (7), Nikki (7), Emma (10), and Kelli (10). Unfortunately, Paul’s wife was struck with Lymphoma (a softball-sized tumor against her lungs) which was treated aggressively, including a bone marrow transplant. Traci’s cancer responded well to the treatment, but her body began to reject the transplant. Traci developed a very rare and painful form of Graft Versus Host Disease (GVHD) where her body fights the bone marrow by attacking her skin. As a result, Traci has lost the motor function in both of her legs and right arm and no longer has any skin below the knees. Traci is also relegated to a wheelchair and it is unlikely that she will ever walk again.

Traci has been undergoing weekly surgeries for over a year to treat the GVHD. Medical and child care costs have become overwhelming for Paul’s family. With his ailing wife and four young girls to care for, Paul can no longer work outside the home. Even with help from family, friends and coworkers – Paul’s family is having a hard time making ends meet. As the father of two young boys of my own, I cannot begin to imagine what Paul is going through.

We at NDA love Paul and are committed to helping his family. Regardless of these harsh economic times, NDA will contribute 5% of its net proceeds from the sale of all NDA Reports to the Paul Ellis Family Relief Fund for the rest of 2009. Simply put, every NDA Report sold will result in an immediate donation to Paul’s family. Our goal is to raise the $100,000 it will take to offset the uninsured medical and childcare costs (and loss of income) for Paul’s family for the next year.

What you can do to help Paul’s family:

1. Simply using NDA on your transactions makes a donation! So please, pass this message along to your fellow Realtors.

2. You can CLICK HERE to make a direct contribution to the Paul Ellis Family Relief Fund.

Thank you for helping us help Paul's family.

With my deepest gratitude,
Sergio

Visit my blog at www.InLoveWithSacto.tv, Listen to my radio show at www.InLoveWithSacto.com

Is The FDIC Killing Short Sales?

Tamara Dorris (Davis & Davis ) — Fri, 02 Oct 2009 14:40:55 -0500

Via Robert G Hertzog (Summit Home Consultants):

Is The FDIC Killing Short Sales?

As some of you already know, I blogged recently about being interviewed recently by our local NBC news affiliate. To read the blog, click here. Basically, IndyMac Bank (now OneWest Bank), is holding one of my clients hostage, demanding a $75k promissory note, or they will proceed to foreclosure. For the life of me, I couldn't figure out why they were doing this. The BPO came in at the contract price of $275k, with a net to IndyMac of $241k. What advantage could there possibly be for them to proceed to foreclosure?

Yesterday, I figured it out. You see, IndyMac was taken over by the FDIC and sold to OneWest Bank in March/2009. Guess who the investors are behind OneWest? George Soros, Michael Dell, Steve Mnuchin (former Goldman Sachs executive), and John Paulson (hedge-fund billionaire).

Now, listen to the deal they got from the FDIC....

Basically, they purchased all current residential mortgages at 70% of par value (70% of the outstanding loan amounts). They purchased all current HELOCS at 58% of Par Value!!!

Next, in order to "sweeten the pot", the FDIC stepped in and guaranteed the following: For any residential mortgages where OneWest experiences a loss, the FDIC will step in and cover anywhere from 80%-95% of the loss. The loss is calculated using the ORIGINAL LOAN BALANCE, not the amount that OneWest paid for the loan. Let's use my clients situation as an example:

Loan Amount is $478,000, plus 6 months of missed payments, for a grand total of $485,200

OneWest pays $334,600 for the loan

We have an all cash offer of $241,000, net to OneWest.

So, let's do the math, shall we? The net loss, according to the FDIC formula is the ORIGINAL LOAN AMOUNT minus the amount of the offer. In this case, $485,200-$241,000, or $244,200. Next, the FDIC, according to their Loss Share Agreement, writes a check to OneWest for 80% of the so-called "net loss". So, in this case, OneWest gets a check from Uncle Sam for $195,360 (.80 X $244,200).

Add the $195,360 to the sales price of $241,000, and you get a grand total of $436,360. Remember, OneWest paid $334,600 for the loan. So, OneWest puts $101,760 in their pocket, thanks to the FDIC. Folks, that is over $100k of our hard-earned tax dollars!

So, you ask...Why does this program hurt short sales? Because, our brilliant government offers this SAME PROGRAM FOR FORECLOSURES! The only difference is, the government picks up 80% of the tab on all of the extra costs associated with a foreclosure (BPO's, upkeep, utilities/maintenance, legal fees, etc.)

So, If I'm OneWest, why would I want to waste my time negotiating through a Short Sale, when I can make the same amount of money (if not more) by just letting it go to foreclosure? And we wonder why nobody can get a Loan Modification? Why would OneWest approve a loan modification for this guy, when they can foreclose and make over $100k? And, to add injury to insult, they have held this loan for 6 months! Not a bad ROI, huh?

What infuriates me the most is that in my particular case mentioned above, they have the guts to hold my client hostage for a $75k promissory note, after they are already making more than $100k on the sale!!! This is his primary residence, 1st Position loan, and OneWest has NO RECOURSE! Imagine if they could make $100k, then get a deficiency judgement! Talk about making some big bucks!

Can you say "GREED"?

The scary thing is that over 50 banks have Shared Loss Agreements in place with the FDIC. Some of them include: Bank of America (go figure), CitiMortgage, Wells Fargo, etc.

This entire agreement between the FDIC and OneWest can be found here, on the FDIC website. It's all there, for the world to see! They have it all layed out. All of the formulas, worksheets, etc.

Now, it's up to us to bring it to the attention of our elected officials and the media. Enough is Enough!

UPDATE 9/18/09: I JUST READ AN AWESOME ARTICLE ON THIS, THAT GOES INTO WAY MORE DETAIL THAN MY BLOG ABOVE. TAKE THE TIME TO READ IT WHEN YOU GET A CHANCE! CLICK HERE TO READ IT.

Wait, it gets better...The FDIC just announced that it needs to start borrowing money from the U.S. Treasure in order to replenish it's deposit insurance fund (the same fund being used to pay all of these banks in the Loss Share Agreements). Go Figure! Click Here to read it.

Robert G. Hertzog

Phoenix Real Estate Consultant

Visit my blog at www.InLoveWithSacto.tv, Listen to my radio show at www.InLoveWithSacto.com

Homeowner Radio Show is a Must-Hear

Tamara Dorris (Davis & Davis ) — Fri, 25 Sep 2009 13:04:45 -0500

I was pleased as pie earlier this week when Allen Lyle contacted me to ask me to be a guest on his and Danny Lipford's radio show, The Homefront Radio Show. Honored, of course, that a radio show that's nationally syndicated to more than 250 radio stations wanted my lil' ol' opinion on the real estate market at large, but moreover, pleased that I discovered such a great program.

The Homefront Radio Show is something that I think all of us that are homeowners might want to bookmark.

Here's the description on the website:

"Each week, listeners across the country tune into Homefront for useful advice about their homes. The syndicated call-in radio show is hosted by veteran remodeling contractor Danny Lipford, who is also known for his television appearances as host of Today's Homeowner with Danny Lipford® and home expert for The Weather Channel. On every show you'll hear Danny, along with Co-Host Allen Lyle, answer questions from listeners about a variety of home topics, and dispense useful tips and information. And you never know what special guest will drop by to share the microphone, a laugh or two, and some home insights as well. Homefront is informative and entertaining fare for home enthusiasts nationwide."

Some of the topics I noted had lots to do with home updating and remodeling, but I found they have a great blog, plenty of excellent resources, and hey, they touch base on the overall real estate market. And, if you can't listen live, catch any of the past shows right from your computer. Check out the site now.

While I'm posting this blog for the many buyers and sellers who read Active Rain, I'm also encouraging agents and affiliates to re-blog (you can edit me out of it :-) and post to Localism as I am since this is a true consumer benefit that your buyers, sellers and community residents will appreciate.

If you want to hear yours truly talk to the guys, that show streams live on their site this Saturday, September 26th at 10-12 EST. Take a look.

Thanks!

Tamara Dorris

If you like self help and Sacramento real estate (my two favorite things in the world), tune into my Internet radio show, Sacramento Smiles.

Visit my blog at www.InLoveWithSacto.tv, Listen to my radio show at www.InLoveWithSacto.com

Someone Stole the Carpet?!

Tamara Dorris (Davis & Davis ) — Mon, 21 Sep 2009 18:24:55 -0500

I’ve been in this business a long time and I’ve seen a lot of crazy things, from wild Peacocks chasing me out of a backyard to foreclosed properties with the sink missing. I know when people lose their homes, it’s a very emotional event, and my heart always goes out to them. I guess in some instance, say for example, a homeowner goes to all this time and expense to fix up his or her home, only to find out that they are going to lose that home.

And, in perhaps a fit of escalated emotion, they decide to take out whatever they put into the house. I don’t think it’s for the money as much as it is principle, warped as it may seem to those of us visiting the now-vacant house and seeing, for example, the fireplace mantle or sink ripped outta the wall.

This week though, I gotta tell ya, really takes the cake. I have a deal in escrow. The buyers are the nicest kids in the world. The house is NOT a foreclosures. The house is vacant. So I get a call from the FHA appraiser that the home has no carpet.

Huh?

Of course the house has carpet. It’s new and pretty and I just walked on it last week when I let the home inspector in. Well, not anymore, she informs me. And, there is a broken window in the back.

So let me get this straight.

Some hoodlams, who have nothing better to do, scope out a vacant house and break in to steal carpet? Really? Yep. Someone broke in, pulled the carpet up, rolled it up and took it right out of the house. How bizzar is that?

And this was just a short time before we were to close, mind you.

Fortunately, the sellers had it replaced, but now I’m wondering, will it happen again? How do you protect yourself and your clients from such parasites that would do something that irrehensible. I just don’t know.

I secretly fantazie that I am Wonder Woman and I camp out at the house until the creeps come back for more rug. As soon as they walk in the house, I’ll zap them with my Wonder Woman wand (did Wonder Woman have a wand? I don’t know, but that seems sort of irrelavant at this point). I think about getting a gaurd dog, a camera and a sercurity gaurd.

It’s sad enough that so many folks are losing their homes, but to break into a home and steal the carpeting seems to be a new low. I am sure, somewhere, somehow, there is carpet karma, and I am certain these carpet thieves have it comin.’

Ta ta for now,
Wonder Woman

Visit my blog at www.InLoveWithSacto.tv, Listen to my radio show at www.InLoveWithSacto.com

Fun With Fico

Tamara Dorris (Davis & Davis ) — Thu, 10 Sep 2009 17:05:34 -0500

If you listen to my radio show (and I sure hope you do!) you will hear the first few minutes with myself and my segment co-host, Ed “The Money Man” Wacaster talking about the real estate market. While our focus in on the Sacramento market, clearly the show and out discussions are universal (okay, maybe just national) in nature.

One thing that is going on right now that buyers (and sellers with time-lines) need to be aware of is how difficult it is to get qualified for a loan. While that in itself is enough of a topic for three posts, I thought I would dedicate this one to FICO scores.

Your FICO score can be your friend or your foe. In fact, one entity might give you a higher score than another, so it’s always best, in my opinion, to work with a qualified lender to see just where you are at in terms of your credit-worthiness.

Recognize that there are three credit bureaus that conduct credit scores–and again, they may each have information that is slight different, hence, giving you a slightly different score. You’ve got your TransUnion, your Equifax and your Experian. If you run your own report from each, then you’ll get a good idea what the lender will be looking at, but as I said, if you’re ready to think about buying a house, you can just have the lender pull it.

When you review your scores, you might find errors. For instance, a few years ago when I ran mine, there were misspellings on my name, and yep, that can cost you points! Also, look for debts that were paid off, debts that don’t belong to you, and liens that should have already been removed. It is kind of a hassle to contact the credit bureau, but listen, it’s kind of a much bigger hassle to not qualify for a home loan!

Once you’ve checked out possible mistakes and made strides to clean them up, make a commitment to never, ever be late on your bills again. Clearly, going to collections is bad ju-ju, but in some cases, it can’t be helped. I know that lenders are a little more lenient with collects that are a result of medical bills, so that’s always good to know. If you miss a payment, make up for it as soon as you can. The creditors do not care about your problems, they just want to get paid what you owe them. Pay them what you owe them and try your best to avoid high-interest credit cards.

Keep your older credit cards in the game. The older the credit card and the better your history of making prompt payments, the rosier that reflects on you. Established credit is what we need to teach our children, not how to get a Macy’s card and be well-dressed for a premium interest rate!

Another thing to remember is that your debt to income ratio will affect things. You’ve got to make enough to show that you can handle your long-term debts AND a possible house payment. Remember too, that there are other expenses involved in maintaining a house besides the payment, such as property taxes and home owner’s insurance.

Finally and almost the first thing I tell my prospective buyers, is DO NOT BUY ANYTHING while you are in the house-hunting process. No boats, cars or computers! Do not charge anything until your escrow is closed! I once had clients think they were fine with their home loan and then they went out and bought a car. Dumb. Dumb. Dumb.

With credit scores today needing to be at an almost impossible high (750 and up), it’s more important that ever that you do your part to ensure you look as creditworthy on paper as you really are (you are, aren’t you?

Hope that helps. Let me know if you have any questions : 916-482-5834 and please tune in on Wednesdays to listen to all our past pod casts at www.InLoveWithSacto.com

ta ta for now

Tamara

Visit my blog at www.InLoveWithSacto.tv, Listen to my radio show at www.InLoveWithSacto.com

Feng Shui Radio Guest

Tamara Dorris (Davis & Davis ) — Tue, 08 Sep 2009 12:13:23 -0500

My Internet radio show tomorrow will feature a Sacramento-based Feng Shui consultant....might be of interest to this group. She's great....she did my house prior to our remodeling (and me learning Feng Shui for myself) 14 years ago.

Here's the link to the press release: http://bit.ly/i6V5i

and the link to the show is http://www.InLoveWithSacto.com at 10 AM PST tomorrow (Wed. 9-9-09) if you miss the live show, catch the podcast later.

Thanks!

Tamara

Visit my blog at www.InLoveWithSacto.tv, Listen to my radio show at www.InLoveWithSacto.com

Labor Day in Sacramento (not what you think!)

Tamara Dorris (Davis & Davis ) — Sun, 06 Sep 2009 15:49:36 -0500

An interesting story to share with you. Twenty-one years ago this Labor Day, I was indeed in labor with my lovely daughter, Nichole. Nichole was definitely not in any hurry to enter this world either! After a very uncomfortable record-hot Sacramento summer and a grueling 18-hours of labor, the poor little kid had her chord wrapped around her neck and was blue. In fact, my mother, who was at the birth, said later on that Nichole looked just like a little Smurf. That was one labor of love I have ever, not even during the terrible twos or the independent teen years, come to regret.

The idea of Labor Day, in my mind, goes hand in hand with labors of love. I think of my mail man, Willy, who hits the Carmichael area I live in with gusto; I think of the staff at so many great Sacramento establishments who make doing business with them so much more enjoyable. I guess the bottom line is that when someone likes what they do, it shows.

I’ve never, ever been a pushy salesperson. In fact, I do not consider myself a salesperson at all. A salesperson is someone who attempts to sell someone something. When I work with a new prospect, someone looking for a home in Sacramento, or maybe someone selling a home in Sacramento, my goal is not to sell them anything.

My goal in working with people is all about service. Service and building relationships. How can I work so closely on something so important to someone and then just walk away? I can’t. I’m part of my clients’ lives now and they are part of mine, if only in the occasional call or greeting card I send them. Mine is a relationship-based business.

Whether I am negotiating an addendum or counter offer, making sure there are no “surprises” easily hidden inside contracts, house-hunting with my buyers (my favorite part), or counseling clients on the best move to make (that training in therapy really did pay off!), the point is that all of it is a labor of love. There are good days and there are days when I could get frustrated IF I forgot, that in the end, it’s not what happens to you, it what you do with what happens to you.

With that in mind, I hope we all can think of Labor Day as a day to reflect, with gratitude, about the labors we’ve been blessed with and the service we provide.

As for my lovely daughter, she’s requested a trip to the wine country for her 21st birthday. I guess there’s nothing wrong with developing a fine taste for wine, so off to Amador we go.

Happy Labor Day!

Ta ta for now,
Tamara

Don’t miss my weekly Sacramento Radio show, but wait! Just because I serve Sacramento, don’t think for a minute our weekly featured guests don’t offer national appeal! Everything from social media skills to feng shui to health and nutrition and more! Tune in live at 10 AM on Weds. at 10 AM PST, or catch the podcast later. Check it out, you’ll love my labor of love. www.InLoveWithSacto.com

Visit my blog at www.InLoveWithSacto.tv, Listen to my radio show at www.InLoveWithSacto.com

The Buck Stops Here!

Tamara Dorris (Davis & Davis ) — Thu, 03 Sep 2009 15:41:33 -0500

So I’m on my gotta-get-away-from-these-phones lunch-time bike ride today at Ancil Hoffman Park in Carmichael, thinking about real estate (duh!). Just as I’m rounding the corner of the golf course, no more than 20 feet away, I spy two bucks that my hunting-husband would have drooled over. It seems to be that the deer always eat grass from underneath this one particular tree, hence, the buck stops here.

But then I thought about the day I was having, back at the office and why I was frustrated. It seems that a counter-offer that came from the listing agent/asset manager was a multiple counter-offer, but gosh darn-it, that little box indicating it as such was not marked. Clearly, that put my buyer’s in what I would consider a false state of security, especially that we all now realized it was not a done deal.

We all know that the Sacramento real estate market is at an all-time strange place. Lending is nothing short of ludicrous (back-peddling isn’t working, guys), and some out-of-state banks seem a little out of touch (both literally and figuratively). In all of the this it makes me realize how very important it is for those of us committed (and those of us who should be), to stick to our guns when it comes to ethics. To say, “Enough is Enough,” and mean it. To not let our clients lose out on property just because of someone else’s error.

Regardless of the market, it is the ethical agents, the determined buyers and sellers, and persistent lenders who are holding it all together, inspite of trepidation, crazy new time-lines and asset mangers who won’t return calls (you’d be amazed at what leaving 72 voice mails will do).

All that said, I think it’s more crucial than ever for buyers and seller to work with professionals who know their stuff…lenders who won’t drop the ball and agents who are ethical, up to date and educated (and in my case, have eagle-eyes for unchecked boxes!).

As prices slowly creep up and buying is more challenging than ever, remember to find yourself an agent who will put your best interests first, recommend a lender who knows what the heck is going on, and through it all, knows how to say, “The Buck Stops Here!” and gets the deal done.
Ta ta for now,

Sacramento friends: catch my radio show on Wednesdays at 10:00 or listen to the podcast later. We always chat briefly about real estate and then feature a guest who in some way can help you in your business or personal life. Check it out! http://www.InLoveWithSacto.com

Visit my blog at www.InLoveWithSacto.tv, Listen to my radio show at www.InLoveWithSacto.com

Best Sushi in Sacramento

Tamara Dorris (Davis & Davis ) — Mon, 31 Aug 2009 15:06:41 -0500

Yes, I know there will be those who might disagree with me, and I’m ready to face the challenge.

I have discovered what I believe to be the very best sushi in town. And, I take my sushi skills very seriously.

Silver Sake in Carmichael gives a new spin on sushi that is nothing short of fantastic. Now I know where you all like to eat sushi….I like “that place” a lot too, but I am not kidding you when I say that the Silver Sake is worth the drive and the time.

With more than 100 rolls, plus all the other stuff sushi places tend to offer, the Silver Sake uses special “secret” sauces to enhance and enliven their food fare. In fact, my very favorite thing about sushi has always been the wasabi….I LOVE wasabi, plain a simple. But I notice when I eat at Silver Sake, I don’t even care if I have wasabi! That should speak volumes about the quality of the food (and the amazing sauces).

Very casual in decor (a couple of flat screen televisions seem to always be on), with a steady group of casually-dressed regulars, you won’t feel out of place in shorts and t-shirt. Oh, the the bill won’t set you back like some of the fancier sushi places in Sacramento. The fish is fresh, the staff is fun, and I mean, really fun. They serve wine and beer, and well, of course sake, both warm and cold.

So whether you’re up for a casual dinner, dine-in or take-out, lunch, or to take my challenge that it’s the best sushi in Sacramento County, then be sure to let me know how you like it. Tell them Tamara sent you and try the Garlic Roll….it really rocks!

4949 Marconi Ave Ste D
Carmichael, CA 95608

(916) 473-6368

www.silversake.com

Ta ta for now,

Tamara

PS tune into my Sacramento radio show every wednesday am at www.InLoveWithSacto.com where we have guests that are guaranteed to improve the quality of your life and your business.

Visit my blog at www.InLoveWithSacto.tv, Listen to my radio show at www.InLoveWithSacto.com

Success Salad

Tamara Dorris (Davis & Davis ) — Fri, 28 Aug 2009 17:06:01 -0500

Here's a lil vid for your viewing pleasure, but basically, as a fellow agent, agent coach and teacher, I know how very important it is to keep ourselves motivated, educated and inspired, so, to that end, I've started a blog that is a free few minutes a day of something geared entirely toward personal or professional development. Check it out and maybe subscribe to the feed. www.SuccessSalad.com

Visit my blog at www.InLoveWithSacto.tv, Listen to my radio show at www.InLoveWithSacto.com

Sacramento Title Company Kudos

Tamara Dorris (Davis & Davis ) — Fri, 28 Aug 2009 17:01:59 -0500

As an adjunct professor of real estate at American River College and as an active real estate agent in Sacramento, I’m the first to recognize and preach about the importance of using a good title and escrow company. In fact, most of the transactions I have had since spring have been with title companies that didn’t do very much to impress me.

Not returning calls, responding to emails…that’s just bad manners, no matter who you are, but sometimes, you find a company full of professionals that go above and beyond the call of duty.

To that end, I want to give kudos to Placer Title. I currently have three escrows with Placer and I am delighted to report that in all three cases, the escrow officers contacted me immediately, sent me the escrow number, receipt for the deposit check, and just generally had pleasant, professional demeanors.

The officers I am currently working with who are doing such a great job are: Laurie Isle and Kim Meidinger, both at the office at Watt Ave/Fair Oaks Blvd. and the newest escrow is with Kathi McCrum at the Sunrise branch. It’s clear in working with Placer Title that they’ve earned their keep when it comes to my business. As I tell my students, a good escrow officer is worth her weight in gold (and I can say “her” since most escrow officers are and always have been female). It’ vital, especially in our current market, to work with a title and escrow company that delivers timely and efficient service. I think Placer Title fits that bill.

Please note that there has been an on-going issue/debate in who gets to pick the title company. When you make an offer on the property, it is perfectly fine for you (the buyer) to indicate the title company you would like to use. While I never recommend or “sell” a company, if my buyers ask which company I like, I tell ‘em. Whether it’s title and escrow, home warranty or lending professionals, I know the right pick is essential, so if they ask my opinion, I can offer my own experiences.

Typically, sellers pay for title (I said “typically,” but anything is negotiable). So often, listing agents will open escrow with a company, and in that case, I feel it’s the professional thing to do to leave the title with that company (assuming sellers are paying). Otherwise, I will write whatever my buyers want in the contract.

Clearly there’s much more to say, but this isn’t a discussion on contract law, rather, my effort at letting buyers know that there IS a difference in the escrow/title company used, and my pick these days is definitely Placer Title.

Tell ‘em Tamara sent you

Ta ta for now,
Tamara

Listen to the radio show www.InLoveWithSacto.com

Visit my blog at www.InLoveWithSacto.tv, Listen to my radio show at www.InLoveWithSacto.com

Get That Pre-Approval Baby!

Tamara Dorris (Davis & Davis ) — Wed, 26 Aug 2009 11:31:46 -0500

Visit my blog at www.InLoveWithSacto.tv, Listen to my radio show at www.InLoveWithSacto.com

Sacramento Shift?

Tamara Dorris (Davis & Davis ) — Mon, 24 Aug 2009 16:07:31 -0500

Having weathered the hot summer, it seems that there’s more cooling off in Sacramento real estate.

Earlier, I was writing offers left and right and getting rejections in all the same directions…but lo an behold, I am seeing a shift. In fact, I kid you not that I have gotten three acceptances in a row. These are the same buyers, same financing….everything is the same, but sellers (aka banks) seem to be coming around a little.

Two months ago I wrote an offer 11,000 over asking. The next week, I wrote one for 17,000 over. These are some significant overages, and yet, in both cases, the banks picked another buyer to work with (I suspect the winning offers were cash since my offers were otherwise clean and solid).

Yet in these recent offers, the ones that have been accepted, I notice that all of them are full price…maybe 1-2 thousand over asking, but that’s it. So what’s going on? Well, I can only venture to guess that with all of the Sacramento foreclosures out there that the banks are wanting to make things happen quicker. Previously, it was not unusual for me to not even get a response on a foreclosure offer to purchase, but just today, I got a response ONE HOUR after submission. This was unheard of earlier this summer.

One other thing I am noticing is that banks are refusing to initial items #16 and #17 in the RPA (purchase agreement). These are the clauses that have to do with arbitration and mediation. And, while I am not an attorney, I do know that this seems to be the norm with asset managers. So far, I haven’t seen any repercussions and don’t really anticipate any. After all, the banks are very clear on the fact that any foreclosed property is “as is.” This is not a trick. The Buyer’s Advisory gives buyers plenty of time and direction in making sure all inspections are done, and within that time-frame, if the buyers are unhappy with anything the inspections uncover, they can walk, deposit in hand.

All that said, the summer is coming to an end, inventory is moving quickly. There has never been a better time to buy a house in Sacramento, and now, it seems the banks are getting easier to work with.

Ta ta for now,

Tamara

Visit my blog at www.InLoveWithSacto.tv, Listen to my radio show at www.InLoveWithSacto.com

Building Your Buying Muscle

Tamara Dorris (Davis & Davis ) — Thu, 20 Aug 2009 12:28:39 -0500

In my recent efforts to up my endurance and strength on my mountain bike, I started going back to the Gym, Cal Fit in Carmichael, to subject myself to the merciless class known as X-bike. Doesn’t the name just say it all?

Here’s what happened. My dad died a year ago and before he did, he kept telling me how much he wanted me to take his little green mountain bike from Target and do some riding. I hadn’t rode a bike in 20 years and had no intention of starting, so I humored Dad and changed the channel.

For whatever reason, I found in my time of grieving the loss of my dad, that darn bike kept coming up in my mind. So, eventually, I loaded it in my son’s truck and took it home. My first ride was a bit wobbly. I mean, it had been years! But I guess that thing they say about never forgetting how to ride a bike is true, and eventually, I began to soar. Feeling the wind in my hair and the sun on my face was just about as close to heaven as I think I had ever gotten. Now I’m not discounting wine and chocolate or breath taking sunsets or anything like that, I’m just saying that when I was on the bike, something happened. I felt lighter, happy and free. I was hooked.

After seeing my joy for riding, and hearing my constant complaining about wanting to go on longer rides, my husband eventually sucumbed to my nagging and got himself a bike. A new bike. Wait a minute! My bike, by this time, was falling apart, plus it was a boy’s bike, and well, I’m not a boy. So I ceremoniously handed down my dad’s bike to my oldest daughter who was grateful as heck to have Grandpa’s old, green bike.

And I got myself a hot pink bike and a purple helmet.

So what does this have to do with buying a house in Sacramento, you might be asking yourself.

I’m getting to that.

So my hubby and I hit the bike trail and lo and behold, in spite of my constant riding, my husband kicked my butt. I huffed and puffed up the hills to Folsom, while he waited, glowing with testostrone, as I battled to catch up with him.

me and my pink bike

That’s when I decided to hit the gym and subject myself to the training that only x-bike, with its hills and sprints, could provide.

This morning, I started thinking about some of my buyers. Great people, first timers, FHA. While we’ve written five offers, so far, nothing has come through. And, it’s not like this is rocket science. Here’s a house, here’s a buyer; let’s dance. Unfortuanately, not all sellers want to dance with an FHA buyer. These buyers are getting stronger—more resolute in their determination that the right house WILL come along. There will be a home with a seller who wants to play ball.

In the meantime, through all of this, looking, writing offers, getting rejected….or worse and more often, not hearing anything at all. Not even the ringing phone in my office telling me we were rejected. In all of this, they are building their buying muscle. These kids started out like me, huffing and puffing on the bike trail—not knowing the difference between a contingency and a kitchen sink–but now, they know the rules (and I use that term loosely). They know the process and they know to have faith. The are like the Lance Armstrongs of Sacramento home-buyers. We keep looking at houses and writing offers.

Anyone who wants to buy a house in Sacramento right now, needs to exercise their buying mucle. Find an agent who be relentless in the search and like a bull dog in negotiating your offer. Do not give up. It WILL happen, but you’ve got to flex and stretch and strengthen that muscle.

You’ll have to excuse me now, I have a mountain to climb.

Ta ta for now,

Tamara

@tamaradorris

Visit my blog at www.InLoveWithSacto.tv, Listen to my radio show at www.InLoveWithSacto.com

Book Research Question for RE Folk

Tamara Dorris (Davis & Davis ) — Tue, 18 Aug 2009 16:28:05 -0500

In putting together some information for yet another book I cannot help but write, I would like to pose a question that may seem a bit esoteric in nature, but hey, I write self-help books, so I am a bit on the edge.

We all awknowledge that attitude and maybe even universal laws play a role in our own sales success, right? My question is this: does attitude have anything to do with a person's "luck" in buying or selling a home?

I say yes, and am out to prove it, but I would appreciate any insight from my Active Rain pals.

Thanks so much!

Ta ta for now,

Tamara D.

Visit my blog at www.InLoveWithSacto.tv, Listen to my radio show at www.InLoveWithSacto.com

FHA and Other Bedtime Stories

Tamara Dorris (Davis & Davis ) — Tue, 18 Aug 2009 12:15:05 -0500

Traditionally, FHA was an undesirable loan for sellers to consider when offers were made by buyers who were FHA qualified. The good news is that FHA is no longer the “F” word it used to be, but, alas, there are still some things we need to remember when making offers with an FHA loan.

One of the first and most important is that FHA requirements are more stringent then conventional appraisals, so appraisers actually have a different set of guidelines when appraising a property for an FHA loan. For instance, the roof may need a certificate from a roofing company/contractor stating that it has, for example at least a 2-year life span remaining (2-year roof cert.). That said, don’t go looking at fixer uppers when you’re looking to buy a home in Sacramento and think that it will pass FHA requirements.

The things that’s been a big problem lately for me has been this 90-day rule. With home prices in Sacramento being at an all time low, many investors have bought homes, fixed them up and now want to sell them. Well, there’s sure nothing wrong with that, now is there? But here’s the problem, FHA requires that the person who owns the home they are funding has owned it at least 90 days. Kinda dumb, if you ask me, and I’ve yet to have anyone provide an intelligent reason how and why a flipped home could possibly increase risk to the loan. Nevertheless, that’s the rule.

On a brighter side, there are some homes that are flips that have had their flip-efforts (i.e. remodeling, updates, etc.) done through a certain program and in these cases, the 90 day rule does not apply (yay!). While it may not seem like such a big deal to wait 90 days to make your offer, here is the problem: HOUSES IN SACRAMENTO AREN”T STAYING ON THE MARKET THAT LONG! Seriously, a new house hits the market, my buyers write an offer (if all requirements are met) and even at full-price, we are not always getting our house.

Quite frankly, when the sellers are banks (foreclosures) your chances of getting FHA approval isn’t as likely as a flip (that meets 90 days or the program I mentioned) or a non-distressed seller owned Sacramento house.

So, if you are a buyer who can only qualifies for FHA, look at the bright side: at least you qualify! Be sure you have an agent (like yours truly!) who knows the ropes and won’t waste a bunch of time showing you properties that you can’t qualify for. Another hint I am suggesting is this: with FHA offers, always offer full or above full price and don’t ask for concessions. This will make your offer stronger and more more competitive with cash and conventional loan offers.

Ta ta for now!
Tamara

Visit my blog at www.InLoveWithSacto.tv, Listen to my radio show at www.InLoveWithSacto.com

Home Buying Seminar is Sacramento

Tamara Dorris (Davis & Davis ) — Thu, 13 Aug 2009 09:58:49 -0500

Let’s face it, when it comes to buying a house in this market, it’s a jungle out there. Buying a house in Sacramento right now requires one to have the right tools and knowledge.

Two of the most important parts of the process, really the MOST IMPORTANT PARTS, are financing and representation. Trust me, in this market, it is not at all possible to write an offer on a house without having an agent who is on top of things, sharp, bright, and totally looking after your best interests. And then, why bother writing on offer if you got no money? Well, that’s where me (Tamara, the Tiger of real estate) and Ed “The Money Man” Wacaster can help you out.

photo taken by respres/Jeff Turner

As you might know, Ed is my real estate segment co-host on the coolest radio show, make that the ONLY radio show, dedicated to making Sacramento Smile. Ed keeps up on ALL the lending trends, rules, regulations and legislation. In this market, money stuff is changing on nearly a daily basis and most real estate transactions that fall apart are usually a result of funding not working out. That means you need to know the lending process, how much you might qualify for, and what kind of loan will best suit your situation. Even if you, in some cases, have no money to put down, you might still be able to buy a home.

Also, it’s important to understand the different kinds of houses for sale we are seeing in Sacramento real estate sales right now. For instance, the way you make an offer on a short sale, a foreclosure or a seller-owned property will vary tremendously. For example, on a foreclosure, the seller is the bank (or asset manger) so you would write the offer much differently than if it were a human-seller!

Ed and I will take you through the process, because while ignorance is bliss, knowledge is power and we want to help you succeed. This isn’t a sales pitch of any kind, just good solid, accurate information mixed in with some fun and food. Don’t miss it!

Thursday, August 13th, 6 PM

3000 Lava Ridge Court, Suite 200

Roseville, CA 95661

Just call me if you have any questions 916-482-5834

See you there!

Ta Ta for now,

Tamara

Visit my blog at www.InLoveWithSacto.tv, Listen to my radio show at www.InLoveWithSacto.com