Sacramento Real Estate Views

Archive for February, 2009

My Favorite….

Chinese Food In Rocklin

Chang Brothers Chinese has been in Rocklin behind Safe Credit Union on Stanford Ranch Road since around 2002 or 2003.  My wife and I moved here from the bay area and were having trouble finding good Chinese food other than downtown Sacramento.  When Chang’s opened all that changed.

I can’t claim to know what “authentic” Chinese is like.  I have some Chinese friends and from what they tell me, I’m ok with that!  Chang’s is the good, solid Chinese food that has become mainstream in American culture without the chickens feet!

My favorite dish, while there are many, is the General So Shrimp.  A little fried but it’s light, a touch spicey and very good.  That said, you really can’t go wrong and if Jack Chang is cooking..you’re in for a treat.  He rarely cooks as he’s generally out front schmoozing with the guests but sometimes you can catch him in the back preparing food and when he does, it’s twice as good.

In addition to good food, Chang Bros. is also a good value and in these tight times, we all need good value.  You’ll get that and more at Chang’s.

If you do stop by, mention you read about them on my site.  It won’t do much for you but Jack will appreciate it.

Eat well, thanks for visiting!

Tags: chinese food rocklin

Roseville Real Estate Sold Homes – 2/14 – 2/21

Another Slow Week for Home Sales

It feels like things have slowed down a bit in South Placer County this month.  Both Rocklin and Roseville have had a slow month.  In comparison though, no complaints as long as homes are selling.  Last year during the same week, 25 homes were sold whereas only 7 homes have sold this year.  While the economic climate is vastly different this year than last, I expected more sales based on how January’s results.

Only 7 homes sold in all zip codes of Roseville this week.  Here are the stats:

The average days on the market was 65.

The average adjusted listing price to sold price was 98.54%.  The average original list price to sold price is 95.54%.  (The original listing price is the same as the initial listing price.  The adjusted listing price is the initial listing price minus price changes to get the home sold.)

The average cost per square foot was $153.41 based on a average square footage of 1746.

The average sold price was $256,557.

Here are the individual homes:

Looking for additional information?  Buying or selling a home in the Rocklin/Roseville area?  Please give us a call.  We can help to get you moving.

Thanks for visiting!

Tags: roseville homes for sale, roseville real estate

Rocklin Real Estate Sold Homes 2/14 to 2/21

This Weeks Home Sales in Rocklin

There were 8 home closed home sales in Rocklin this week.  Here are the stats:

The average days on the market for these homes was 81.

The original listing price to sold price was 94.56%.

The average cost per square foot was $150.84 on an average square footage of 2288.

The average sold price was $328,938.

Homes are selling when priced right and effectively marketed in all areas of the region.  Here are the individual homes sales by address:

 

 

Is there a home in Rocklin you would like more information on?  Looking to sell or buy a home in Rocklin?  Give us a call, we’d be happy to help you get moving.

Thanks for visiting!

Tags: rocklin real estate, sold homes in rocklin

Sacramento Real Estate – Short Sales: Are the Banks Finally On Board?

Short Sales Becoming Fashionable

The banks have been ridiculous with regard to short sales.  The home gets listed, we make repeated attempts to contact the bank to get the home sold and the bank doesn’t respond.  I’ve submitted offers to banks with no response at all only to be phoned later, months later, asking if my buyer is still interested, your offer has been approved.

Thanks!  My buyer closed 2 months ago!

Then the home goes into foreclosure.  Did you know that on average, a short sale sells for about 25% more than a foreclosed home?  No wonder the financial institutions are in the shape they’re in.

The fact is allowing a home owner to sell short will, in most cases, net the bank more money and save money in repairs and maintenance because there isn’t any!

While the process is going on, the home owner is living in the home and handling all of the maintenance associated with living there.   The home isn’t vacant and open to vandalism.  The homeowner is paying the utilities not the bank.  Not only do they sell for 25% more but they don’t cost the bank a dime in maintenance and upkeep.  There is no asset management company to pay as the negotiations are handled directly through the lender.

Why wouldn’t you want to approve a short sale?  Maybe BIG BROTHER knows but it’s a mystery to me.

More Short Sales in Pending Sale Than Ever Before in Sacramento

A recent check of the MLS shows that the percentage of short sale listings being sold has been increasing dramatically, an indication that the banks are getting on board with the process.  That is a good thing as there are many more to come and foreclosing is suddenly not popular.

It seems every bank out there has imposed a foreclosure moratorium and I hear loan modification stories from homeowners almost every day.  The market is changing.

In an article from the mortgagenewsdaily.com, click here, it appears as if this trend toward short sales is increasing in some locations throughout the nation.  Hopefully they will become increasingly easier to work with because selling a home short rather than letting it go into foreclosure is a win for the lender, a win for the buyer and a win for the community.

I hate to sound cynical but would that make too much sense?

(This is my 100th post!)

Tags: sacramento real estate, short sales in sacramento

Pulte Homes Sales Event This Weekend!

3 Days to Save Big on a BRAND NEW Pulte Home!

I’m bias.  I love this company as I worked for them in sales for one year ending in September of 2008.  They build such a great home and the customer service is outstanding.

The new home industry has been slammed but through it all, Pulte Homes has maintained the commitment to quality in every home they build in the region from the Del Webb communities of Glenbrooke in Elk Grove and The Club in Roseville to the traditional communities of Katie’s Gate and Amberley Place in Westpark, Roseville.

This is one of the only home builders in the Sacramento region that I’d be comfortable sending you to without me.

That’s how much confidence I have in this company from the top down.  What’s even better is when they run a sales event.  Those are so much fun compounded by the savings buyers get for the high quality home they buy.  Now, with the stimulus program in place, it’s an even better time to buy.

Let’s Get a Move On Sales Event!

From February 20th to the 22nd, Pulte Homes is having sales event.  This company doesn’t have too many of these so you’ll want to at least stop by or better yet call me and we’ll both go to see what they have to offer.

Their mortgage offerings are HIGHLY competitive with the marketplace and when they handle your financing one of their homes, the process is seamless.  With special financing rates for a new home purchase, it’s a GREAT time to shop Pulte.

With all of the incentives available, now may be the best time to buy a home ever. Click here for information about the Federal Housing Stimulus Program.

If you have questions, please don’t hesitate to give me a call or email.

Thanks for visiting.

Tags: new homes in rosevlle

CalHFA Community Stabilization Home Loan Program

100% Financing Is Back for First Time Home Buyers

CalHFA has come out with a very attractive loan program for first time home buyers in California.  While it’s use is limited to those counties who have been hardest hit by the real estate downturn, its a very attractive program requiring NO contribution from the home buyer.

100% financing has been gone for quite some time, with exception to VA loans, and you’ll want to, if you qualify, get going with this program as soon as possible as these days loan programs seem to come and go on a whim.

Program Highlights

Loan terms:  5.5% interest, 30 year fixed, up to 103% of the loan to property value.

Must be a first time home buyer (defined as not having owned a home in the last 3 years).

FICO scores must be 680 or above.

Loan is available on qualified properties only.  Owner occupied homes only.

Homebuyer Education is required.  I’ve heard this is a short class on home ownership.

Borrower must be a U.S. citizen, permanent resident alien or qualified aliens.

Home must be in eligible property locations.   This includes ALL Sacramento County zip codes.

Now Is The Time

The Business Journal came out with an article that says from an affordability standpoint, over 74% of people in the region can now afford to buy a home.  The Sacramento region is affordable for almost 75% of all people who live here!  Click here to view the article.

There hasn’t been a time like this in years.  Housing prices are low, we may be at the bottom of the market right now, interest rates are low and now there is 103% financing available, with qualifications, for the first time home buyer to get into a home at an affordable payment in most cases for what you’d pay in rent to someone else!

NEWS FLASH: Since the beginning of the year, the average home price, click here, has steadily increased every two weeks.  As home prices go up, if this turns out to be a long term trend, you’ll be missing out on the best time to buy a home.  Now may be the best time to get the best deal possible. Don’t miss your chance to stimulate our economy!

Please contact me for more information.  Click here for more program details.

Tags: sacramento first time home buyers

Sacramento Real Estate Loan Modifications

Sharon Wallace

Today I was out looking at property for a client when I happened on a very nice lady who had a nice story to tell.  It seems her mortgage had gotten a little out of control and she had written to her lender asking for a modification of her loan terms.

Within a couple days or weeks, she had a new packet at her doorstep with all the terms she needed and a little more.  Another homeowner who is able to stay in her home due to a loan modification.

By her own admission, Sharon was very fortunate and blessed.  It was nice to meet her and hear her story.

This Is Happening All Over the Region

I’m hearing more and more stories about people who have been getting loan modifications to help them stay in their homes.  With the new law signed today, many more people will be able to get help to stay in their homes.  It’s about time.

A word of caution: There are many “companies” out there right now claiming to know about loan modifications touting that they can help you for an advanced fee.  My advice is to never pay anyone for a service before you’re absolutely confident in their ability to help you.  There are many scammers out there right now preying on vulnerable people who are seeking aid in staying in their homes and avoiding the foreclosure process.

While there are many stories out there like Sharon’s, there are equally many horror stories out there as well.  Get a referral from someone you know and do your homework.

Tags: loan modification, sacramento real estate