This Just In . . .

My Clients & Friends

Happy home anniversary & congratulations to newly weds Paul & Candy 

Happy home anniversary Georgette!

Congratulations Kevin & Jennifer - "Katelyn Gayle Adams was born August 19th, 6 lbs 13 oz 21 in long.  Healthy and with all her fingers and toes."

 

FAQ # 4 -  What's An Earnest Money Deposit?  - Earnest has other examples in life: an earnest payment (sometimes called earnest money or simply earnest, or alternatively a good-faith deposit) is a deposit towards the purchase of real estate or publicly tendered government contract made by a buyer or registered contractor to demonstrate that he/she is serious (earnest) about wanting to complete the purchase. When a buyer makes an offer to buy residential real estate, he/she generally signs a contract and pays a sum acceptable to the seller by way of earnest money. The amount varies enormously, depending upon local custom and the state of the local market at the time of contract negotiations.

Did You Know?  Sacramento Facts  

Amtrak sits along what was part of Sacramento's Chinatown "I" Street.  

In 2002, Time magazine featured an article recognizing Sacramento as the most diverse and integrated city in America.

The "Big Four Building", built in 1852, was home to the offices of Collis Huntington, Mark Hopkins,Leland Stanford, and Charles Crocker. The Central Pacific Railroad and Southern Pacific Railroad were founded there.

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Get Help Here . . .

    Mark Teran

    Stanford Mortgage

    916-77-3161

Rates are unbelievably great!!!  Prices this low and rates this low will not last forever.   The hardest thing is that when prices go one direction for so long it’s hard for a consumer to believe that it will do anything     different other than to continue on the same path.   Do you remember when prices went up and up and up? Most everyone believed it would do nothing but that.   We have the reverse scenario now and GUESS WHAT?….. I can’t say exactly when, but over time this unbelievably great market to buy WILL CHANGE!  For those who can… let them know now is the time to take advantage of it.  JUST MY OPINION!

    

   Darin Marquardt

   The Home Loan Group

   916-478-7130

In today’s current real estate market we understand that many big banks are not wanting to approve borrowers or simply conditioning these borrowers to no end. We have been fortunate enough to save a lot of transactions from falling apart, as well as create more opportunities for many borrowers and real estate agents. So we would like to share our new Second Chance Application with you. We also have a lot of experience with credit restoration; for example, in a situation where a borrower was not approved we have helped repair credit in less than one week allowing for loan approval.

   Raymond Noble

   Summit Funding

   916-266-4402
Why rent, when you may be able to buy your own home . . . for only a bit more than you're paying each month in rent?

See how much money you could be directing toward a growing investment, which you can use to turn even more dreams into a reality in the future.

Begin to enjoy the personal and practical benefits of being a homeowner.  Get more information on the affordable loan programs that enable renters to become home owners.  We can help you choose a home-financing program that fits your individual needs and budget.

Pre Foreclosure & Short Sale Help

Looking to Sell?

FREE Handbook

Its Tuesday! - Sep 20

Welcome New Friends & Clients:

F. Lamb, M. Johnson, B. Wyatt, D. Dewitt, G. Benson, M. Thomas

FAQ # 5 -  Why Hasn't My Home Sold?
There are basically two reasons homes don't sell.  Price and promotion.  If the home is priced competitively the only other option for it not selling is exposure.  With the digital resources available in today's market make it very cost effective for properties to reach a mass audience locally, nationally and internationally.  See our marketing plan.

It's Fall!  
There are great many things to look forward to in the fall.  The cooler temperatures, the beauty of the changing colors and favorite fall foods:  Check out some fall favorites from the FoodNetwork.  One other fall note: Daylight savings time ends November 6 at 2am.  What do you like most about fall?  Post your comments below.

Community Focus:  

Sacramento Neighborhood Gets Makeover - Oak Park Residents Hope for Change

Neighborhood News - 

 West Sacramento   Downtown    Midtown   Elk Grove

Open Houses - Beautiful Riverlake Home  -  Affordable in Elk Grove

Good Morning Monday! - How's the Market?

Welcome New Friends & Clients:


M & A Tamene


FAQ #1 - How's The Market?

As a real estate professional the question I hear most often is  How's the Market?

My response:  "Well that depends".  That depends on whether you are buying, selling, investing or renting.

Let's look at that question from the perspective of a homeowner looking to sell.

It is indeed rare that a homeowner who purchased within the last 7 years would see a profit from the sale of their property.  There are two reasons for this:  1) Poorly planned mortgages strategies that include adjustable rate mortgages, negative amortization mortgages, pick a pay mortgages, & interest only type mortgages.  Many of these loan programs were designed for the investor or homeowner who would not be holding on to a property for more than 3 - 5 years.  It was never meant for the family looking to build the "American Dream of Homeownership".  And 2) Erroneous property appraisal valuations.

Many people who have found themselves in an underwater situation could never really afford the home that was purchased in the first place. 

According to the US Census, the average income for 
Sacramento County in 2009  was right around $52,502 per year.  How much house does that get?  About $161,000.00.

Because of loose lending practices between 2004-2009 many average earners were purchasing home upwards of $400k.  How does that happen?

Many of these average earners now face the fact that the amount they owe  far exceeds the actual value of the property and that they can no longer afford to make the payments due to hardships such as loss of income, divorce, illness and the like.

A homeowner in this situation who wisely decides to do something about their negative position may decide to do what is called a "short sale".

So just what is a short sale? A short sale is a type of sale where the homeowner seeks to sell a property whose current value  is less than the amount actually owe.  (This type of sale requires the approval of the seller's lender). 

What are benefits of a short sale to the homeowner?  It is way to get from under the bondage of a poorly planned mortgage and although one's credit score may take a hit, a short sale is less damaging to one's credit than that of a foreclosure or bankruptcy.  In California recent laws state that if lenders agree to a short sale they cannot pursue the seller for the deficiency on both the 1st and 2nd liens. 

Room to breathe again. A few of my clients have told me,  "I just want to be able to breathe again and not be 
afraid to answer the phone or go to the mailbox".

 Why would a lender agree to do a short sale?  Two reasons; first, with all the negative press associated with the lending industry today, Its good PR  for a lender to work with a homeowner who faces a distressing situation and secondly a short sale costs a lender a lot less than a foreclosure

Short sales are one of the ways a homeowner facing a distressing situation can get a fresh start without a foreclosure or bankruptcy and  it seems short sales may even pay off in the long run.  There have been recent reports of homeowners getting letters from their lenders offering them up to 35K to do a short sale.

One more good reason to consider a short sale; Time is running out on the The Mortgage Forgiveness Debt Relief Act and Debt Cancellation by the IRS.

If you would like to more information on short sales and the options they may afford, please contact Step One Real estate at 916-631-1909 or visit GetRidoftheHouse.com.

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-  The Wild Wild World of Short Sales: 

Short sales are anything but short.  They require a lot of patience and commitment from everyone (buyer, seller, lenders and agents) but its worth the time and effort involved.  That's why we celebrate all victories, small and great.  

Recently Sold!

8271 Branchoak Ct;, Elk Grove

Just Listed!

1884 Blowers Dr., Woodland, CA

Underwater?  Thinking of walking away?  

Let us help you find a better exit strategy.   Call us now!  916-631-1909

Call Francine
CA DRE License #01450581 

916-631-1909