Tim's Blog

Pending Sales In East Sacramento Rise

Tim Collom (Windermere Dunnigan) — Wed, 02 Dec 2009 17:06:48 -0600

Bob Shallit: Homes sell in Sacramento's high-end market

Tim Collom (Windermere Dunnigan) — Mon, 30 Nov 2009 09:41:13 -0600

Bob Shallit: Homes sell in Sacramento's high-end market

By Bob Shallit
bshallit@sacbee.com Published: Saturday, Nov. 28, 2009 - 12:00 am | Page 1B
There's life again at the upper end of the local housing market.

We're hearing of a number of recent sales of homes priced above $1 million, mostly in Sacramento's older, established neighborhoods.

Upper-end homes also have been selling recently in east Sac.

Tim Collom, a Windermere Dunnigan agent, reports that one of his clients just snagged a home on 43rd Street - after outbidding three others who submitted offers.

Her purchase price: $820,500.

Another house in the same "Fab 40s" neighborhood just sold for $925,000 - on the first day it was listed.

Collom attributes the sales to bargain hunting by the well-to-do - with low interest rates pushing some potential buyers off the fence.

But he also sees signs of broader strength in the market.

California was "ground zero" for the housing collapse - the first market to crash, he notes. Now, he says, "I think we'll be the first to come out out it."

Can I Call The Bottom Yet?

Tim Collom (Windermere Dunnigan) — Mon, 20 Apr 2009 20:06:53 -0500

Can I Call The Bottom Yet?

Sales are increasing as the interest rates remain stable and prices are stabilizing. In fact we are seeing an 80 percent increase in the total number of sales from last year in Sacramento. Foreclosures and short sales on new homes are a percentage of these statistics, however, the resale market is doing very well in 2009. In East Sacramento and other older established neighborhoods we have found that sales continue to thrive as long as houses are priced right. Buyers are finding opportunities that haven't existed FOR YEARS as interest rates are at an all time low. I seriously believe that we have hit bottom if we aren't there already. Timing is critical and we all wish we all could have the crystal ball but I am going to put my neck on the line and call it.......We have officially hit the Bottom in residential real estate.

For insight and opportunities coming up call me 916 247 8048.

Coming Soon to East Sacramento!

Tim Collom (Windermere Dunnigan) — Mon, 02 Mar 2009 00:41:17 -0600

Coming Soon to East Sac. A Historical piece of property like no other. Completely turn-key with a large lot and built custom to the new buyers desires.

Call Tim Collom with any questions 916 247 8048.

Differentiation

Tim Collom (Windermere Dunnigan) — Fri, 27 Feb 2009 19:08:50 -0600

I recently ran into a past client of mine that is an accomplished producer and actor that proposed an idea.... Make a video about yourself. At first I had some serious hesitation because the first word that came to my mind was Korny. He said just let me do it and it will give your customers just another perspective of who you are, how you work, and what you stand for. Differentiation is a key element to marketing in the industry.

He also explained that while people may copy you at least you remain on the cutting edge and ahead of the curve by trying new things.

Here is the finished product and I would love any feedback.

Thankyou

Tim Collom (Windermere Dunnigan) — Thu, 19 Feb 2009 01:11:29 -0600

February 18th, 2009

As a first time homebuyer, I have to admit I was a little leery about everyone and worried about being taken advantage of. Luckily, I was referred to Tim by a friend of mine, which I believe is always the best way to go. Tim contacted me before I ever found the time to call him - that really impressed me. Right away, I appreciated his energy and enthusiasm! I have to say, looking into house couldn't have been more convenient through the website that he set up for me. I could click in my email and go to the site to view all the homes and immediately filter out my favorite homes. The main things that stand out to me about Tim Collom is that he always had current updates on all the homes, he even found the home that I bought before it reached the MLS, he was flexible with my tight schedule, he was very knowledgeable, and he was exceedingly willing to walk me through all the details of buying a home. I would recommend him to any one of my friends and family and actually already have!

---Melissa Johnstone, Accountant

Top East Sacramento Real Estate Deals For February 16th

Tim Collom (Windermere Dunnigan) — Mon, 16 Feb 2009 22:49:15 -0600

1.928 52nd St, Sacramento, CA 95819

$279,000

2.4237 J St, Sacramento, CA 95819

$629,000

3. 847 56th St, Sacramento, CA 95819

$339,000

For a list of upcoming properties and a list of all active homes call Tim Collom at 916 247 8048.

What This Year Will Bring!!!!

Tim Collom (Windermere Dunnigan) — Tue, 20 Jan 2009 18:48:14 -0600

For Sellers: Pricing is paramount in this market. Prices softened, more so in the higher end, due to initial unrealistic pricing. Properties still on the market from last summer had subsequent incremental price reductions and never got ahead of the curve. They have followed the market down, and this in turn trickles down to every price range. The market has corrected itself from the highs of 2004 and 2005. Consider the location, condition, design, access, age and size of your property. Price it right, and combine it with the extensive marketing exposure that I offer, and you will have an excellent opportunity to sell.

For Buyers: Regardless of whether your timeframe is five weeks or five months, you should ascertain your budget, get preapproved, identify your "Must Have List", and familiarize yourself with the market. When the timing is right, you will be prepared. We recommend speaking with a mortgage broker before looking at property. Short Sales and REOs: While we have seen an increasing presence in short sales, East Sacramento, Land Park, and Downtown has had only a handful of REOs (bank owned). Short Sales can be a very drawn out process, taking several months to close (important for interest rates and loan locks). They can present unique opportunities for buyers, but are not always the ‘Best Deal'. There are many factors that contribute to value. Price alone does not determine whether it is a "good buy".

With an understanding of your needs I can inform you when that "right property" comes along... and advise you on what "deals" to avoid. Online resources have come a long way, but they cannot tell you about the great "pocket listings" that are not on the market.

Bob Shallit of the Sacramento Bee writes about Tim Collom

Tim Collom (Windermere Dunnigan) — Tue, 13 Jan 2009 17:59:09 -0600

By Bob Shallit
bshallit@sacbee.com Published: Tuesday, Jan. 13, 2009 | Page 1B

Tim Collom meets Mary Locke and her dog Libby in east Sacramento as he passes out fliers Monday on a new listing from Windermere Dunnigan. Collom uses such personal contact to help find clients

Bob Shallit: Knock, knock! ... Who's there? ... A door-to-door realty salesman!

Sacramentan Tim Collom is 31, a young guy.

But when it comes to his job, the Windermere Dunnigan real estate agent is decidedly "old school."

A rarity among local real estate pros, Collom looks for business the old-fashioned way: walking neighborhoods five days a week, knocking on doors and introducing himself.

"I like to get face to face with people," says Collom, who has a boyish face and boundless energy. "It's still the best way to build relationships."

He hits about 100 houses each weekday morning, mostly in east Sacramento. When someone answers the door, he shares information about new home listings and recent sales in the neighborhood and offers his referrals for plumbers, painters and other home improvement contractors.

Collom's game plan: Offer a service - and gain a customer when that homeowner needs to buy or sell.

On a recent morning, he's knocking on a door on 57th Street. A woman answers, recognizes him, even remembers his name. They exchange pleasantries before he moves on to the next house.

Not everyone is so nice. He's had doors slammed in his face.

"I had one man tell me if I didn't leave, he'd turn a hose on me," Collom says, adding with a laugh: "I haven't gone back there."

Although rare, that kind of experience can make a guy nervous. Collom says he psyches himself up every morning before his hour of house calls.

It's like a workout, he says. Hard to go and do, but "it feels great when you're done."

And Collom says the system he's followed during an eight-year real estate career pays off.

Collom says he completed more than 20 sales in 2007 - most of them a direct result of his door-to-door work. His numbers were down a little in 2008 but still ahead of most agents in his American River Drive office, says the firm's owner-broker Geoff Zimmerman.

Even so, she's ambivalent about Collom's approach.

"It's not the way I teach (sales)," she says of door-to-door marketing. Zimmerman thinks other methods - weekend open houses and online marketing, for example - are a better use of an agent's time and don't risk offending people who dislike unexpected visitors on their doorstep.

But she concedes Collom gets results. "With his personality and his enthusiasm," she says, "it works."

Testimonial

Tim Collom (Windermere Dunnigan) — Tue, 06 Jan 2009 16:01:21 -0600

January 5, 2009

It's been two years since our last deal together and I wanted to thank you so much for the incredible job you did selling my property in McKinley Park. Even in what was an already challenged marketplace, you managed to sell my duplex for $150k more than what I had paid only four months prior. I can't thank you enough for everything you've done. I look forward to many more deals with you in the future Tim. Any homeowner would be crazy to work with another realtor, I mean that. As always please feel free to refer any prospective clients to me if they want to hear about my experience working with you. Thanks again and be in touch. Best regards, Todd Scalia

Tims top Three buys for East Sacramento December 27th

Tim Collom (Windermere Dunnigan) — Sat, 27 Dec 2008 14:02:15 -0600

Top Three Buys for East Sacramento December 27th!

1.3209 Mckinley Blvd- $349,950 Days on Market:1

2.921 45th Street- $550,000 Days on Market:12 Currently 4 offers

3. 731 48th Street- $614,900 Days on Market: 2

Call Tim today for a private viewing and the next best three that are coming up within the next week.

916 247 8048

tim@timcollom.com

Foreclosures, Short Sales, and Auction Properties.....What are they?

Tim Collom (Windermere Dunnigan) — Thu, 20 Nov 2008 23:55:33 -0600

Foreclosures, short sales and REOs remind me of, "Lions and tigers and bears, oh, my!" The latter are dangerous animals but different from each other -- just as foreclosures and short sales and real-estate-owned (REOs) are distressed sales but different from each other.

However, they are also similar because without knowledge about handling foreclosures, short sales and REOs, you could find yourself in dangerous territory. For example, while most short sales are foreclosures, not all foreclosures are short sales. To further complicate matters, REOs are not short sales either, but some intended short sales can end up as an REO.

What is a Foreclosure Property?

A foreclosure property is a home in foreclosure -- when a notice of default has been filed in the public records. It means the owner has stopped making mortgage payments and the lender has given notice that unless the payments are brought up to date, it will sell the property to the highest bidder.

Lenders can foreclose for other reasons, but the most common reason lenders file a notice of default is when a borrower is at least two payments in arrears.

If the home owner does not bring the loan current, the lender will take the property away from the owner. The final step the lender takes after a certain period has passed is to try to auction the property at a public sale.

Not all homes that fall into foreclosure go to public sale because owners have the right to make up back payments up to a point, the time which varies from state to state.

Real estate investors and home buyers see profit in buying foreclosures because they can often buy the property for the amount owed, picking up the home owner's equity for free.

How California law Affects Foreclosure / Short Sale Investors

States have varying laws governing foreclosures and some follow California law. To completely understand your rights as a foreclosure buyer, contact a local real estate lawyer. However, realize that for a long time in California, a real estate agent could not represent a foreclosure investor if all of the following four statements were true:

The home qualifies as the seller's personal residence.
The property is a single family home or 2 to 4 units.
A Notice of Default has been filed in the public records against the property.
The investor buyer will not occupy the property.

However, if any of those four statements were false, an agent in California would be allowed to represent buyers, especially if the buyer was going to occupy the home. But to represent an investor, CA law requires that a real estate agent post a bond. No such bond is available in the state of California. Therefore, as a pre-foreclosure investor in California, many buyers were forced to act on their own.

A California court ruled in 2007 that the bond requirement was unenforceable. The California Association of Realtors then made available a special package of forms that agents can use to represent investors. Realize, as an investor, you are required to comply with the Home Equity Sales Act. Among other requirements, sellers who are in foreclosure have the right to rescind (cancel) a transaction within five days. Investors must give the seller notice of that right, including a copy of the form that will let sellers cancel.

Failure to comply with the Home Equity Sales Act carries severe penalties, including a provision that gives the seller the right to cancel the sale up to two years after the sale to the investor has closed and get the property back. You read that correctly. Two years.

As an investor, before you decide to buy a home in foreclosure by making up the back payments to the lender, giving the seller a few dollars and recording a deed, call a real estate lawyer.

What is a Short Sale Property?

A short sale occurs when a home owner is in foreclosure but before the property goes to public auction. Under a short sale, a lender must agree to accept less than the amount that is owed on the property.

Unlike a foreclosure, investors typically buy the home for even less because investors are not paying off the existing loan nor making up the back payments. Investors are striking a deal with the existing lender to take less than what the lender has coming to avoid dealing with a foreclosure.

It's a myth that lenders are not going to make a deal with an investor unless the seller has fallen behind on the seller's obligation to make timely mortgage payments. Sellers don't need to be in default for a short sale to occur. For a buyer who wants to occupy the home, buying a short sale makes financial sense.

What are REOs - Real Estate Owned?

Buying an REO is similar to buying a short sale except the property is already owned by the lender.
The property was acquired by the lender through a foreclosure action.
Often lenders will sell repossessed homes for less than the past loan balance.
Bank-owned properties are called REOs, meaning real estate owned by the lender.

Banks end up owning the property when nobody at the public auction bid enough to cover the amount owed against the property. REO homes are often considered the best way to buy a distressed property because the seller is already out of the picture. It's just the investor, the investor's agent, the bank and the bank's agent who are negotiating the transaction. Some REOs can be purchased directly from the lender.

Foreclosure Diagram

Tim Collom (Windermere Dunnigan) — Wed, 19 Nov 2008 17:57:49 -0600

Buy Buy Buy

Tim Collom (Windermere Dunnigan) — Tue, 18 Nov 2008 11:28:10 -0600

The insanity of the seller's market during 2004 and 2005 has shifted to a buyer's market. In some areas of the country there has been a price correction for homes.

The buyer's market is a simple product of supply and demand. Currently, there are more homes on the market than buyers. This creates a surplus of homes. In Concord, California there was roughly a 12 month supply of single-family homes available, according to my calculations.

Two things can resolve the current surplus of homes. 1) More home buyers enter the real estate market. This is the more unlikely solution. Mortgage lenders have tightened their qualifications for loans. Eligible home buyers must have better credit scores and a stable financial situation to qualify for loans. Also, interest rates have increased in the past few weeks, decreasing the amount home buyers qualify to purchase. The combination of these two factors make this solution less likely than the other.

2) Home owners decrease their home prices. Sellers will need to make their home more attractive to the available home buyers in the market. One of the ways will be a reduction in listing price. This can be evidenced through buyer incentives (credits toward closing costs) or by lowering the asking price. Home sellers are forced to compete on price to entice buyers into the home.

Home sellers cannot immediately increase the number of home buyers as a result of their actions. However, a home owner can lower the price of their home to increase the home's attractiveness to the available buyers. If you can buy more house for less money, why wouldn't you?

This makes it a great market to buy a home for investment or personal use. I say that with a caveat: The holding period should be greater than two (2) years. I make this caveat because I think that we are near the bottom of the current real estate market correction. I am not sure that we have reached the absolute bottom yet. A two year holding period allows for the real estate market to reach bottom and begin to rise again.

My advice to buyers and investors: Call me today and get in the market! This in my opinion is a great time to buy for the long haul.

My advice to sellers: Do not expect to set the terms of the deal. You are no longer in the driver's seat of the real estate market and need to make concessions to home buyers.

Isn't It Obvious?

Tim Collom (Windermere Dunnigan) — Mon, 06 Oct 2008 17:38:50 -0500

So where is the bottom?

Within the last 2 years the cycle has changed yet again. Its not the first time and it won't be the last. All the economic indicators pointed to a changing market even without the sub-prime crisis. Real estate cycles last anywhere from 8-11 years. The last cycle lasted from 1991- to August of 2005 = 14 years. One of the longest cycles which we have seen in the last 6 decades. The good news is that interest rates are well below the forty year average of 9.5% and their are huge investment opportunities. Those who have great credit and cash have a huge advantage in purchasing power.

The Lending industry is correctring itself by requiring good credit, money down, and steady income requirements. Remember two years ago where you could get a loan with bad credit, 0 down, and merely stating what you make without tax returns or a w-2?

Unbelievable.

Is it no surprise that something had to change within the Real Estate Industry.

Now it is time to start looking at what deals are out there and taking advantage of what the market offers. In September, California booked a significant increase in the amount of sales from the previous September. Even in Sacramento county we have seen the median house price stabilize and even start to rise in certain counties.

Its pretty obvious that we are nearing the bottom if we already haven't hit it yet.

Its typically a good time to buy when everyone else isn't.

Opportunity

Tim Collom (Windermere Dunnigan) — Fri, 15 Aug 2008 19:39:16 -0500

(n) Opportunity- a chance for advancement, progress or profit; a favorable circumstance

As many people keep proclaiming that the sky is falling and insist on always focusing on the negative. In East Sacramento, Sierra Oaks, Land Park, and Curis Park we are averaging more sales than there were last year. As much as 17%! Sure the median home values have decreased, however, that was inevitable. There are many buyers that are taking advantage of the market and purchasing properties at very low prices with great interest rates. People tend to forget that the 40 year average for interest rates is at 9.4%.

Yes we are in an economic downturn, however, there is still a tremendous amount of purchase power and within the next year numbers will start to increase. No one really knows where the true bottom is in our market. But most economic experts believe that we are close.

So are you complaining or are you taking advantage of a great opportunity?

Row 15 , Seat C

Tim Collom (Windermere Dunnigan) — Sun, 18 May 2008 23:31:05 -0500

Row 15 , Seat C

There I was at LAX boarding my connecting flight from Hawaii to Sacramento. I sat in row 15, seat C, next to a 17 year-old named Max and his 14 year-old brother Alex. Immediately whipping out my laptop to finish my 100 goals for 2005, I noticed that both of the young gentlemen were very much to themselves and almost weeping. Trying to eliminate any awkwardness I threw out my normal, "How are you doin' Buddy?" to Max the 17 year-old. He simply shook his head and replied "not too good." I immediately thought that they had encountered a string of delays much like I had trying to get to the mainland and were probably just as irritated as I was. That was not the case at all. Max simply stated, "He never came up."

Max and his brother Alex went on their first diving trip with their father in the Channel Islands and let's just say I took their fathers seat on the way back. At 12:00 p.m. that day he was pronounced dead of a massive heart attack at the age of 49. Suddenly my goals seemed insignificant; I immediately shut my laptop and did the best I could to give them support at such a horrendous time. Alex and Max were remarkably calm and were very open with what had happened just 5 hours prior. I could not even fathom what these two kids were going through but I'll tell you that these were two of the strongest kids that I have met. Max and Alex live in Placerville and are both saving for college while they attend High School.

My mother Luzanne has always reminded me that life is too short and you never know how fast things can change in a blink of an eye. My mother worked in the E.R. for many years and on a daily basis she was constantly reminded how short life really can be. I will never forget Max and Alex and the strength that they showed on that flight and more importantly whose seat I took that day.

Do you have this problem ever?

Tim Collom (Windermere Dunnigan) — Thu, 15 May 2008 13:42:00 -0500

Buyers want the most for their money! I could never blame that for doing what most all of us do. In this market we are finding out more than ever that buyers are not focused on one home. I have found that many buyers are constantly looking for the best deals out there. Even if they have walked into a house, negotiated a great price, and got their offer accepted!

What if a buyer is in contract but they still want to make offers on other properties?

Buyers seem to think think that there is a clause that will enable them to release their contractual agreement with the seller for any reason. However, lawyers will disagree. Many will state that the buyer made a mutual binding agreement that their intention is to move forward and purchase the home. Does this stop buyers for looking for alternatives if they discover more than they can handle within the inspection periods. Absolutely not.

There is a fine line with what is ethical and trying to het your clients the best deal. Abuyer once asked me, "Why can't we make several offers at once on different properties to get the best deal? We can even tell the sellers and use it as leverage?" I quickly responded that, "I suppose you could also have 5 agents looking for you and do the same thing."

This is a tough one and all a real estate agent can do is inform the client of industry standard, ethics, and letting them know that there may be possible legal consequences.

10 questions to ask before hiring a real estate agent.

Tim Collom (Windermere Dunnigan) — Wed, 14 May 2008 15:49:23 -0500

1. Do you see property within a 48 hours of hitting the market? How many times a day to you monitor the MLS?

2.What is your most successful resource when marketing a home that no one else does?

3.Why should I hire you?

4. What is your experience in the business and what is your philosophy on how you do business?

5. I know that you can sell a home but how will you guide me through escrow?

6. What makes you an expert in the area?

7. Why Should I pay you a commision if I can sell or represent myself?

8. What is your biggest Strength?

9.Do you negotiate contracts, call me on properties,hold open houses, and review important documents or do you have a team member that takes over those responsibilities?

10. How does your marketing strategy differ from the other agents we have talked to?

Some of these questions are very basic and others give an agent the perfect platform to emphasize on their unique abilities. Ultimately giving the prospective client clarity on whether the agent is the right fit for their needs. I have been asked all of these questions during hundreds of listing appointments and it is always good to review these on a weekly basis.If anyone has any great questions that you have heard or want answers to please comment on your best one!

You are only as good as your last sale

Tim Collom (Windermere Dunnigan) — Tue, 13 May 2008 23:08:04 -0500

As real estate cycles change it seems that the very talented agents survive because they are doing what they have always done.

Worked The Basics Consistently.

Successful agents are highly active and highly visible. Open houses, knocking on doors, hosting charity events, and teaching seminars are a part of their annual routine. These agents have weathered real estate cycles which come and go. Face to face meetings, calling clients, and mailing to their database is why they still remain in the most challenging markets. The days of putting a listing into the mls and watching it sell are over with for now.

My grandfather always said to me that you are only as good as your last sale. It doesn't matter what you did yesterday it matters what you do today. Of course we all had great years in real estate especially in 2004. However, what counts is how you do in a challenging market.

Those who Build Relationships, Communicate Value, and Provide Direction to their clients will find themselves focusing on the positives as opposed to dwelling on the negatives. Those that keeping focusing on what they used to do often find themselves in a very difficult positions in their careers. While the successful agents are asking one simple question:

What can I do better Tommorow that I didn't get done Today?

Buyers-and Sellers-Beware!

Tim Collom (Windermere Dunnigan) — Mon, 12 May 2008 12:27:39 -0500

Buyers-and Sellers-Beware:

Online Home Price Research has Limited Value

by Stephanie Riley

Grim headlines have left many homeowners feeling like the bottom is falling out of the housing market. While the foreclosure numbers are indeed a sad reality in many areas, home values remain steady in older, established neighborhoods throughout Sacramento.Many of us wish there was an easy way to find out just how much our homes are worth-how that investment is holding up. You know, turn on the computer, do a little research, perhaps see what the neighbor's house is worth at the same time.The popularity of real estate websites such as zillow.com, ziprealty.com and trulia.com makes it seem that assessing property values is just a click away.

Can you compare homes online the same way you do cars, for example? According to local real estate broker Tim Collom and marketing expert Greg Bauer, the answer is "not exactly.""Eighty percent of people are going to go online and do some research," suggests Bauer, owner of Bauer 360, an internet marketing and consulting firm in Sacramento. "However, the local professional is going to know more than any of these research tools ever could."

The primary reason for this is the vast differences among homes in older, established neighborhoods. "It's easier to compare Roseville and Elk Grove homes that are the same square footage and model using these tools," observes Tim Collom of Windermere Dunnigan Associates.

Someone who has never visited your home, or your community for that matter, has no way of knowing that your home has a gourmet kitchen while your neighbor across the street has the original 1930s fixtures. "In these neighborhoods, each home is like a fingerprint...no two are alike," says Collom.

Bauer's research team found that 1/3 of zillow estimates were inaccurate. In the course of helping the firm's clients increase their online presence, Bauer's team specializes in reading between the lines -- online. In a sampling of homes for sale in the neighborhoods of East Sacramento, Land Park, Arden Park and Curtis Park, we found the majority of homes sold 10-20% higher than their Zillow estimate.

Ten to twenty percent isn't bad if you are buying a lawnmower. However, if your home is in the $500,000 range, a 10% difference could mean losing out on $50,000 if you price your home based on one of these online services. Collom states without hesitation, "These programs offer a false baseline of what the seller can expect."

We found one East Sacramento home was valued at $120,000 less than it ultimately sold for the following week. Bauer agrees that this disparity is not uncommon. "As we have studied the real estate vertical, we have noted that websites such as zillow.com do not supply accurate results, therefore making the information false or misleading." Bauer's research shows that the Trulia site is somewhat more on the mark, but points out that these services should merely serve as general starting points.

With about 150 staff, primarily technical experts in Seattle, Zillow tracks public records such as sales and refinancing efforts. Trulia and Ziprealty operate the same, with no local staff. Paired with price-per-square-foot averages and sales of "comparable" properties, those numbers lead online services to come up with an estimated value of your home.

But wait a minute. What are comparable properties-those with similar square footage and lot size? Those on the same street?

"You can take one street and find vast differences in home values from one block to the next," points out Collom, who notes that homes on either end of H or J Street offer excellent examples of this phenomenon. Nicole Pate of California Prudential Realty agrees that unique qualities of older homes in established areas contribute to their broad appeal, and to the difficulty in estimating value without stepping inside.

Even homes that appear to be similar on paper can be dramatically different in neighborhoods that were not built as tracts using a pattern of four or five floor plans. In the 50 or more years since they were built, each has undoubtedly undergone renovations and changes that further enhance the uniqueness (and yes, value) of these homes.

If it's your curiosity you wish to satisfy, you may be intrigued by the tools available online. Bauer calls Trulia "very content-rich, with an abundant amount of tools, reports, and recent sales to allow you to conduct research." Buyers can begin their research online with Trulia's consumer version of the Multiple Listing Service (MLS), providing detailed information on homes for sale, including prior sale history, comps and assessment records. Recognizing the importance of local insight, Trulia offers links to local brokers and agents, information on neighborhood schools and even a tool that will send you an email when a particular home's sales price is reduced.

If knowledge is power, we consumers should be very careful with the perceived power inherent in this brand of knowledge.

Collom cautions buyers from using an online price as a bargaining chip in the negotiation process, noting that buyers who offer an extremely low bid may not get a response from the seller.

Although local news reports indicate that the real estate market is "down," Collom says established neighborhoods have not felt the same kind of dip. He urges consumers to look for information that pertains to their own neighborhoods, noting the disparity among homes available in Rio Linda and Arden Park-two vastly different areas-but both part of Sacramento County statistics.

"The amount of foreclosures in Sacramento County is not really relevant to established areas," he says. "Sales here are still up, we still have multiple offers on homes, and we still sell homes for more than $2 million in these neighborhoods." Pate agrees with the healthy local market outlook, "Recently, sales have picked up and new listings are coming on the market weekly."

Collom, Pate and Bauer agree that the curious consumer will find a lot of value in online services. When it comes to negotiation, buying or selling, however, each recommends without a doubt that the local expert will always offer the most accurate information.

For The Moms

Tim Collom (Windermere Dunnigan) — Sat, 10 May 2008 23:54:17 -0500

For the Moms

Thankyou......

For taking me to soccer, baseball, tennis, swimming, basketball, karate, football practice for years even though I threw a fit every time.

Picking up the countless wrappers and soda cans littered all over the house.

For showing me that it was ok to cry at my grandfathers funeral.

Thanks for never picking a favorite child and treating all of us the same... sometimes.

Teaching me that throwing oranges and eggs at cars was a bad idea.

Taking us to Taco Bell, McDonalds, Straw Hat Pizza, Burger King, and lets not forget Baskin Robbins.

Thankyou for calling me more than I call you.

Buying me a Halloween costume every year that would last all of a day.

For making me go to school even when I pretended to be sick.

For waking us up every year on July 2^nd at 5:00am to drive to Tahoe even though the other kids went to Hawaii.

Field Trips....Enough Said.

For working countless hours to support the three boys and give us the best life possible.

For the tremendous patience and tolerance to deal with my mistakes and not saying I told you so once.

For being there for Dad.

Laughing at my dumb jokes.

For GOING TO PHENOMENAL LENGTHS in making me believe in Santa, the Easter Bunny, and the Tooth fairy for way too long.

For Volunteering at the School .

Did I thankyou for Volunteering at the school yet.

Getting me a separate phone line so I could talk to chicks without you listening.

For Always Being There No Matter What.

I Love You Mom

Happy Mothers Day,

Tim Collom

916 247 8048

Windermere Dunnigan

Why it is a great time to buy now!!!!

Tim Collom (Windermere Dunnigan) — Fri, 09 May 2008 12:07:33 -0500

So when is the bottom of the market? Don't we all wish we had a crystal ball.

A key indicator of a changing market is when we start to see multiple offer situations and great investment opportunities. The lower priced homes are starting to see multiple offers again, especially with the bank owned properties.

Here are some great reasons to buy now:

Interest rates are phenomenal and they are way below the 30 year average of 9.3%.

There are investment opportunities that actually provide a positive cash flow in some areas for rentals.

Many areas have come down as much as 15% within the last two years.

Historically--- Property values go up after a presidential election and even after times of Recession.

The FHA loan programs are very good even though they are not as flexible as the loan programs 2-3 years ago.

The stock market is still struggling.

Agents can negotiate more with properties that are sitting on the market for months and have the ability to knock off $50,000 or more!

Hopefully these points can help you or your buyers with some concrete reasons to buy in this negative market. Have a Great Day.

How to win in multiple offer situations!

Tim Collom (Windermere Dunnigan) — Fri, 09 May 2008 00:35:20 -0500

You are probably reading this and thinking I am crazy. Properties that are priced below market value are generating Multiple offers. Yes, most of them are bank owned and or short sale properties. However, many buyers express frustration with being bid out by the higher bidder in todays market. Here are some simple tips for agents and Buyers to increase your chances of getting your offer accepted.

1. The escalating offer: Structure the offer at asking price with an addendum that simply states: The Buyer will pay minimum purchase price of X. The buyer will Pay $3,000 over any written legitimate offer. The maximum purchase price shall not exceed X.

The escalating offer works about 80% of the time but there are cons. The seller has the option to counter back at your maximum purchase price. Usually an experienced agent will be able to tell if the Seller is playing games in order to get all parties in a multiple offer situation to bid higher.

2. Telling your buyer to give it your best shot when coming up with an offer. Give the seller the amount that the buyers feel comfortable offering. Many buyers often complain about wishing they had given more when they had the financial ability to do so. Give your best shot the first time and dont play games because most of the time you will lose.

3. Hand deliver the offer if possible with a letter simply explaining who the buyers are. If at all possible, ask to present the offer in person to the sellers. Face to face always gives a better impression of the agent and it tells the seller a little more about the buyer.

4.Have the lender come in on the same presentation to the sellers and describe the buyers financing. Sounds different, however, Sellers are very leary of the ability to qualify for loans.

These tips have enabled me to educate my buyers and ultimately I had more deals accepted just using these simple strategies. I hope this will help you.

Open House 101 for agents

Tim Collom (Windermere Dunnigan) — Fri, 02 May 2008 23:50:23 -0500

Buyers are a hot commodity in todays market and open houses are one of the most important lead generation activities. These points are more as a reminder to me on what I should be doing every weekend.

1. Distrubute 50 flyers to neighbors the day before the open. Personally inviting them by hand delivering an invitation.

2. 10 signs that are set up 2 hours prior to open.

3. An open house rider on top of the sign stating when it will be 5 days before the open.

4. Educate yourself regarding all properties that are active, pending and sold within the area.Become an expert!

5. Dress professionaly.

6. Bring materials and cards which are very high quality.

7. Never sit down as people come through and never talk on the phone as people are walking through.

8. Ask questions that buyers can not give simple yes or no questions to. Build rapport and clarify each buyers specific needs.

9. Collect as many email addresses as possible and ask for a follow up phone number to insure that they recieve properties the day they hit the market.

10.Arrive EARLY AND STAY late