Know Your Requirements before You Buy the Yuba City Homes for Sale

Know Your Requirements before You Buy the Yuba City Homes for Sale

Home to the world’s largest dried fruit processing plant and the Sunsweet Grower’s Inc, Yuba City is the county that was born during the days of the Great Californian Gold Rush. With several wineries, Yuba City is now home to 165,000 residents. The Yuba City homes for sale are not difficult to locate. With the current boom in the real estate market, there are plenty of homes for sale. The homes here are priced based on their size and location. There are homes with varied features that suit the needs and finances of every family planning to relocate and buy a property in Yuba City.
When you want to look at the Yuba City homes for sale, it is advisable to decide on your requirement such as the number of bedrooms and bathrooms or the car garage size. Once you have your requirements ready, you can easily decide if the homes on your priority list will match all your required features. The most important factor that decides the home you buy is your finance. The price of a Yuba City home is primarily dependent on the location of the home. It is essential that you decide the location where you want to reside based on your budget. The Yuba City homes are also available on rent.
Renting of homes is a good option when you are relocating to Yuba City. The city’s property listings offer the best houses on rent here. Single family homes, township homes and condos are available for rent. Real estate agents of Yuba City help you to get the best homes on rent that suit your rental housing requirements.
The real estate agents of Yuba City offer you all the resources regarding the property that include access to property listings, home assessment tools, photographs and tours of the property. They also guide you through the process of buying the Yuba City homes for sale. These agents make use of websites with relevant maps and descriptions about the property. They list the property on MLS and ease your search of homes. The information with these agents includes all types of property like single family homes, condos and lands on sale.
The property management service providers in Yuba City offer a wide range of services in managing both residential and commercial properties. The GreatWest GMAC real estate agents offer the best services in locating the Yuba City homes for sale. You can visit them on http://www.greatwestgmac.com/ .

For additional resources and information please visit the following sites. Resource Links:
http://www.gmacrealestate.com
Bill Fields All Star Coaching Program: http://www.AllStarCoaching.net GreatWest GMAC Search all MLS Listings: http://www.LocalHomeLink.com GreatWest GMAC Consumer Buyer/Seller Blog: http://www.GreatWestBlog.com
T. Sami Siddiqui (Broker/ Owner) Buzz About Sacramento Blog: http://www.samisiddiquiblog.com Brodie Stephens (Executive Vice President) One Stop Blog: http://www.brodiestephensblog.com GreatWest Podcasts- Weekly Updates on new REO, Short Sale, Bank Owned Foreclosure Listings: http://www.HouseTalkOnline.com GreatWest Videos: http://www.youtube.com/brodiestephens Facebook Brodie Stephens Profile Page: http://www.facebook.com/brodiestephens Facebook GreatWest Profile Page: http://www.facebook.com/searchmlshomesforsale MySpace Brodie Stephens Blog: http://www.myspace.com/brodiestephens MySpace GreatWest Blog: http://www.myspace.com/greatwest Picasa Web Album: http://picasaweb.google.com/brodiestephens
GreatWest Real Estate Careers- GMAC is looking for Professional Realtors to Join Us: http://www.CareersWithUs.com Global Employee Relocation: http://www.employeerelocation.blogspot.com Apply for a Loan: http://www.choice1funding.com
ActiveRain Blog Brodie: http://activerain.com/blogs/brodiestephens
ActiveRain Blog Company:http://activerain.com/blogs/greatwestgmac
Sacbee:http://www.sacbee.com
Company WordPress Site:http://www.thehomeholders.com
Real Living:http://www.realliving.com

Natomas homes for sale

Natomas homes for sale

Just five minutes north from downtown Sacramento is the Natomas region, which is currently booming with real estate activity. This region is adorned by the Sacramento River on the west and the American River to the south. Previously this region was home to vast farmlands. Now the local government has planned a very reasonable and beautiful residential area by keeping in mind the preservation of nature. At present this region has 40,000 residents and the number of people moving into Natomas is on a steady increase. This area is a very good option for any investor.
The residents enjoy the convenience of the downtown Sacramento shopping arena and the Sac Town airport. The nearness of the Bay Area allows residents to commute at reasonable cost while they can enjoy an inexpensive living in the Natomas region. This community is served by several schools and colleges that impart excellent education. Though downtown Sacramento is very close, the Natomas residents have a homely feeling within their community. The Natomas market place is filled with retail and wholesale outlets.
The Natomas homes for sale are newer and beautiful homes that keep up the current trend of eco friendly homes. These homes include wide variety of single family homes, apartments and condos to satisfy the needs of each type of investor. A home in Natomas ranges from as low as $ 74,000 to a high of $ 900,000. Single family homes range from $300,000 to $700,000. The condos range from $200,000 to $400,000. These condos also feature community recreation and other facilities. If investors are not interested in constructed property, they can also invest in the open lands of Natomas for custom building.
The Natomas homes for sale are valuated based on the accurate and instant prices of other homes sold in the neighborhood. Some special tools for evaluation will allow adjustment of the value of your home for improvements, amenities, location and trends in market to obtain precise information. The online service for home valuation depending on the properties sold and the proprietary home valuation program will enable you to determine the right price for your Natomas home. The Natomas community has a complete research center where free reports and community pictures and videos will help you maximize the value of your Natomas homes for sale.
A regency park, Heritage Park, and other planned community features and amenities, make Natomas a much desired market for real estate location.

For additional resources and information please visit the following sites. Resource Links:
http://www.gmacrealestate.com
Bill Fields All Star Coaching Program: http://www.AllStarCoaching.net GreatWest GMAC Search all MLS Listings: http://www.LocalHomeLink.com GreatWest GMAC Consumer Buyer/Seller Blog: http://www.GreatWestBlog.com
T. Sami Siddiqui (Broker/ Owner) Buzz About Sacramento Blog: http://www.samisiddiquiblog.com Brodie Stephens (Executive Vice President) One Stop Blog: http://www.brodiestephensblog.com GreatWest Podcasts- Weekly Updates on new REO, Short Sale, Bank Owned Foreclosure Listings: http://www.HouseTalkOnline.com GreatWest Videos: http://www.youtube.com/brodiestephens Facebook Brodie Stephens Profile Page: http://www.facebook.com/brodiestephens Facebook GreatWest Profile Page: http://www.facebook.com/searchmlshomesforsale MySpace Brodie Stephens Blog: http://www.myspace.com/brodiestephens MySpace GreatWest Blog: http://www.myspace.com/greatwest Picasa Web Album: http://picasaweb.google.com/brodiestephens
GreatWest Real Estate Careers- GMAC is looking for Professional Realtors to Join Us: http://www.CareersWithUs.com Global Employee Relocation: http://www.employeerelocation.blogspot.com Apply for a Loan: http://www.choice1funding.com
ActiveRain Blog Brodie: http://activerain.com/blogs/brodiestephens
ActiveRain Blog Company:http://activerain.com/blogs/greatwestgmac
Sacbee:http://www.sacbee.com
Company WordPress Site:http://www.thehomeholders.com
Real Living:http://www.realliving.com

A Good Picture Will Influence the Sale of your Home

A Good Picture Will Influence the Sale of Your Home

Photography facilitates better communication. With the advent in technology, portraying your thoughts with the help of pictures has eased all efforts in communication. The online real estate market has taken the best advantage of community pictures on the internet. Today’s real estate investors prefer to buy homes on the internet. Their imagination about an agent’s description on the house is now supported by pictures uploaded on the agent’s website. By a click of the mouse, investors have the best view of the property they want to invest in.
As a seller, to get a better deal on your property it is essential to get your property listed with the listing agencies through a real estate agent. To make your listing attractive and gain popularity, you have to include pictures of your home on sale. It is the impact of these pictures on the buyer that brings them to view your property in person. So your aim as a seller should be to get the best pictures of your home on the agencies’ listings. Here are a few simple tricks to get the best pictures of your property to be uploaded on the internet.
Always photograph your property when the outside is bright and sunny. A natural light in the backdrop will enhance the color shades of your house and give it a perfect look. A good digital camera with the latest features will give perfect clarity to the picture and maintains the image clarity when uploaded. Do not take any random photographs. The photo will be uploaded on the internet to show to the world the best features of your home. Show as much room as you can rather than blank walls. Buyers can visualize themselves living in the house by seeing the rooms and not the bare walls. Make sure you photograph the room from a corner or the doorway to capture as much as room possible.
Keep all decorators away from the camera frame. Do not display any of your belongings. Watch out to keep your toilet seat closed! You are photographing your home and not your family. The best real estate pictures do not have any living beings. Keep your family and pets completely out of frame. Take care that while you photograph the bedroom and dressing area, the reflection in the mirror does not show you taking the picture. Choose a position from where you can capture the room without any reflection in the mirror.
You can also add pictures of the neighborhood like the schools, parks, library and the famous neighborhood events. This way, you will not only sell your house but will also give a view of the locality to the prospective buyer.
Upload the best pictures on the agency listings with the property details. It is also ideal to keep the prints of these pictures handy to show it to the buyers when they come to view your property in person.

For additional resources and information please visit the following sites. Resource Links:
http://www.gmacrealestate.com
Bill Fields All Star Coaching Program: http://www.AllStarCoaching.net GreatWest GMAC Search all MLS Listings: http://www.LocalHomeLink.com GreatWest GMAC Consumer Buyer/Seller Blog: http://www.GreatWestBlog.com
T. Sami Siddiqui (Broker/ Owner) Buzz About Sacramento Blog: http://www.samisiddiquiblog.com Brodie Stephens (Executive Vice President) One Stop Blog: http://www.brodiestephensblog.com GreatWest Podcasts- Weekly Updates on new REO, Short Sale, Bank Owned Foreclosure Listings: http://www.HouseTalkOnline.com GreatWest Videos: http://www.youtube.com/brodiestephens Facebook Brodie Stephens Profile Page: http://www.facebook.com/brodiestephens Facebook GreatWest Profile Page: http://www.facebook.com/searchmlshomesforsale MySpace Brodie Stephens Blog: http://www.myspace.com/brodiestephens MySpace GreatWest Blog: http://www.myspace.com/greatwest Picasa Web Album: http://picasaweb.google.com/brodiestephens
GreatWest Real Estate Careers- GMAC is looking for Professional Realtors to Join Us: http://www.CareersWithUs.com Global Employee Relocation: http://www.employeerelocation.blogspot.com Apply for a Loan: http://www.choice1funding.com
ActiveRain Blog Brodie: http://activerain.com/blogs/brodiestephens
ActiveRain Blog Company:http://activerain.com/blogs/greatwestgmac
Sacbee:http://www.sacbee.com
Company WordPress Site:http://www.thehomeholders.com
Real Living:http://www.realliving.com

Technology and Community Pictures

Technology and Community Pictures

To communicate effectively, it is very essential to choose the right words and put the right phrase at the right place. But are you sure you will express all your thoughts in the right way? Think about showing to the world what you want to express… Does that ring a bell? Yes I am talking about photography! Through a camera’s view finder, you can show the world what you see and convey the message in a more realistic way. Your skill of photography can be extended to business as well. Here are a few tips to convey your message through photos to the entire world by using an online photo service.
When you are taking photos for business websites, you have to concentrate on highlighting the product. Using digital cameras will give you the best quality pictures. Once your picture is ready, you can edit it using photo editing softwares like photoscape, Picasa etc. This will enhance the photo visibility and give a better impact on the message you want to convey.
Photo editing softwares allow several corrections to be made to the photos on your computer. Photos can be cropped and highlighted, background color can be changed or overall color can be saturated using the software. Imperfections can be made perfect. The software also allows you to emphasize on a part of the photo and make alterations. An exciting feature of these photo editing softwares is the ability to make collage. You can make a single photo by putting together many photos. In this way you can put together all related photos can communicate effectively through a single photo.
However, these softwares cannot refocus a picture! They can only edit a picture that has been clicked. They can edit photos of all formats like jpeg, mpeg, etc. The various tools can be used to duplicate the photo pixels in order to recreate, rearrange and clone different portions of the photo.
Photography is all about communicating the right thought through the right picture. The use of technology in photography has made picture communication even more effective. Community pictures are all over the internet to create a better understanding of the message. By including attractive community pictures about your product in your business website, you can be assured of a better traffic and an improved response.

For additional resources and information please visit the following sites. Resource Links:
http://www.gmacrealestate.com
Bill Fields All Star Coaching Program: http://www.AllStarCoaching.net GreatWest GMAC Search all MLS Listings: http://www.LocalHomeLink.com GreatWest GMAC Consumer Buyer/Seller Blog: http://www.GreatWestBlog.com
T. Sami Siddiqui (Broker/ Owner) Buzz About Sacramento Blog: http://www.samisiddiquiblog.com Brodie Stephens (Executive Vice President) One Stop Blog: http://www.brodiestephensblog.com GreatWest Podcasts- Weekly Updates on new REO, Short Sale, Bank Owned Foreclosure Listings: http://www.HouseTalkOnline.com GreatWest Videos: http://www.youtube.com/brodiestephens Facebook Brodie Stephens Profile Page: http://www.facebook.com/brodiestephens Facebook GreatWest Profile Page: http://www.facebook.com/searchmlshomesforsale MySpace Brodie Stephens Blog: http://www.myspace.com/brodiestephens MySpace GreatWest Blog: http://www.myspace.com/greatwest Picasa Web Album: http://picasaweb.google.com/brodiestephens
GreatWest Real Estate Careers- GMAC is looking for Professional Realtors to Join Us: http://www.CareersWithUs.com Global Employee Relocation: http://www.employeerelocation.blogspot.com Apply for a Loan: http://www.choice1funding.com
ActiveRain Blog Brodie: http://activerain.com/blogs/brodiestephens
ActiveRain Blog Company:http://activerain.com/blogs/greatwestgmac
Sacbee:http://www.sacbee.com
Company WordPress Site:http://www.thehomeholders.com
Real Living:http://www.realliving.com

Videos to Market Your Real Estate

Videos to Market Your Real Estate

The improvement in technology has got the world shopping online. People are now looking for homes and buying homes on the internet. A real estate agent’s website plays an important role in online real estate marketing. To be on the top of search engine listings, agents make use of SEO techniques for their websites. But ranking on top is not sufficient to keep clients on your site. Your site has to be attractive and informative. The content of your website is very important. Technology has also evolved to include pictures and videos on the internet. But how are these videos going to help you market your real estate business?
When people want to buy or sell property, internet is their first stop. They want to buy homes at the best deals from the comfort of their home. But how can they decide whether the home they want to buy is suitable for them or not without even looking at it? Here comes the role of real estate videos in real estate websites. These videos are expected to give the viewer a thorough insight of the home, its architecture and the locality.
To cater to this need of the client as a real estate agent, you have to first create a short video of the property you want to sell. A complete video must showcase not only the home, but also the locality. By covering the neighborhood in the video you will be familiarizing the locality and the home surroundings to your clients. You can also ask some of the neighbors to talk in your video about the locality, the facilities and safety in the locality and the real estate market in that area. These videos are also an added advantage in your website, as you can use these for promoting your business.
Home buyers look for interactive videos on real estate websites. You can begin your video by introducing yourself and the services you have to offer. Emphasize on how your offers are best suited for client needs. When clients are able to relate their needs to your messages on the video, they will consider it longer before looking at other websites.
When you have a good real estate video ready, you must market it to attract all potential customers. Uploading your videos on real estate videos on social networking sites like Twitter, Facebook or MySpace will get your message to the world. You have an option on your website to share your video with friends and with that you can make sure that your video reaches out to all prospective clients. This is accepted to be the best marketing strategy to expose yourself and your business.

For additional resources and information please visit the following sites. Resource Links:
http://www.gmacrealestate.com
Bill Fields All Star Coaching Program: http://www.AllStarCoaching.net GreatWest GMAC Search all MLS Listings: http://www.LocalHomeLink.com GreatWest GMAC Consumer Buyer/Seller Blog: http://www.GreatWestBlog.com
T. Sami Siddiqui (Broker/ Owner) Buzz About Sacramento Blog: http://www.samisiddiquiblog.com Brodie Stephens (Executive Vice President) One Stop Blog: http://www.brodiestephensblog.com GreatWest Podcasts- Weekly Updates on new REO, Short Sale, Bank Owned Foreclosure Listings: http://www.HouseTalkOnline.com GreatWest Videos: http://www.youtube.com/brodiestephens Facebook Brodie Stephens Profile Page: http://www.facebook.com/brodiestephens Facebook GreatWest Profile Page: http://www.facebook.com/searchmlshomesforsale MySpace Brodie Stephens Blog: http://www.myspace.com/brodiestephens MySpace GreatWest Blog: http://www.myspace.com/greatwest Picasa Web Album: http://picasaweb.google.com/brodiestephens
GreatWest Real Estate Careers- GMAC is looking for Professional Realtors to Join Us: http://www.CareersWithUs.com Global Employee Relocation: http://www.employeerelocation.blogspot.com Apply for a Loan: http://www.choice1funding.com
ActiveRain Blog Brodie: http://activerain.com/blogs/brodiestephens
ActiveRain Blog Company:http://activerain.com/blogs/greatwestgmac
Sacbee:http://www.sacbee.com
Company WordPress Site:http://www.thehomeholders.com
Real Living:http://www.realliving.com

Watch Out For Negative Equity

Watch Out For Negative Equity

Do you own a home which has negative equity and are wondering how this occurred? The answer is simple. Negative equity occurs when you purchase a home using a home loan and the home prices begin to decline due to economic slowdown. The home value now decreases below the value principally on mortgage. This condition is called negative equity. It can be calculated by taking the value of the home, less the balance on the remaining loan.
An important aspect in the performance of home loans in the third quarter of 2009 was the high resale of foreclosures. This came up to one fifth of the total home sales in the real estate market. Also 26.5% of homes were sold for prices lower than what the original owner had paid.
Year after year, the prices of homes are declining. The recent fall was recorded at 6.9% reaching $194,000. The percentage of homes in negative equity was read to 21% in the third quarter, unlike 23% in the second quarter. It was when home values stabilized that many homes were also foreclosed in the same period. The third quarter readings show a dramatic decline in the negative equity conditions. This decrease in the percentage of home owners with negative equity is a positive sign to the economy. This is directly related to the stabilization of home prices in the next two quarters. This also indicates the percentage of home owners who have lost their homes to foreclosures in the second and first quarters.
The following months are expected to be crucial for the real estate industry. The winter analysis had predicted a rise in the percentage of foreclosed homes in the slow market, leading to a decline in the prices. But now with the extension of the tax credit period and sanction of $8000 tax credit for first time home buyers and $6,500 tax credit for repeat buyers, there could be an increase in the demand for homes that would lower the percentage of foreclosed homes. This is likely to bring stability in the prices of homes all through the state. But the major question is how long this stability will last after the tax credit period expires? This is likely to create a demand that would be weaker than the normal demand.
The recent survey on negative equity had the following statements to make:
· As on September 30th 2009, negative equity indicated that present home prices are lower than the original credit.
· Foreclosed homes that were resold were mostly homes foreclosed by banks in the previous year.
When facing negative equity, you can approach realtors and mortgage professionals, who will help you to recover from negative equity.

For additional resources and information please visit the following sites. Resource Links:
http://www.gmacrealestate.com
Bill Fields All Star Coaching Program: http://www.AllStarCoaching.net GreatWest GMAC Search all MLS Listings: http://www.LocalHomeLink.com GreatWest GMAC Consumer Buyer/Seller Blog: http://www.GreatWestBlog.com T. Sami Siddiqui (Broker/ Owner) Buzz About Sacramento Blog: http://www.samisiddiquiblog.com Brodie Stephens (Executive Vice President) One Stop Blog: http://www.brodiestephensblog.com GreatWest Podcasts- Weekly Updates on new REO, Short Sale, Bank Owned Foreclosure Listings: http://www.HouseTalkOnline.com GreatWest Videos: http://www.youtube.com/brodiestephens Facebook Brodie Stephens Profile Page: http://www.facebook.com/brodiestephens Facebook GreatWest Profile Page: http://www.facebook.com/searchmlshomesforsale MySpace Brodie Stephens Blog: http://www.myspace.com/brodiestephens MySpace GreatWest Blog: http://www.myspace.com/greatwest Picasa Web Album: http://picasaweb.google.com/brodiestephens GreatWest Real Estate Careers- GMAC is looking for Professional Realtors to Join Us: http://www.CareersWithUs.com Global Employee Relocation: http://www.employeerelocation.blogspot.com Apply for a Loan: http://www.choice1funding.com
ActiveRain Blog Brodie http://activerain.com/blogs/brodiestephens
ActiveRain Blog Company http://activerain.com/blogs/greatwestgmac
Sacbee http://www.sacbee.com
Company WordPress Site http://www.thehomeholders.com
Real Living http://www.realliving.com

Existing Homes For Sale - A New Record Set

Existing Homes For Sale – A New Record Set

Are you a first time buyer with a tax credit? Then you will want to know the sales, existing homes recorded this year. In 2009, all first time buyers where driven by their tax credit to buy homes at affordable prices. The sale of existing homes showed a bigger gain in October with a steady increase over the previous months. But the performance of inventories for new constructions continued to minimize. The sales of existing homes included single homes, condominiums and townhomes. These sales were recorded at 10.1% showing 6.1 million units in October as against 5.54 million units in September. This new score in October 2009 is said to be 23.5 percent above the 4.94 million units recorded in October 2008. Many buyers were seen rushing to get hold of good homes before the first time buyer’s tax credit deadline would terminate. When the tax credit expired by the end of October, robust sales was also seen in November. But the dawn of December saw a decline in the sales. But now, the tax credit has been extended till April 30th 2010. A large demand for existing homes prevails among the first time buyers. This can be easily tapped before the tax credit period ends. The extension of tax credit limit for first time buyers has created unusual conditions like getting multiple bids on lower price ranges and quickened sale of foreclosed property. This is also a busy time for realtors to negotiate satisfactory deals. First time buyers are feeling the need for good realtors to get them the best home affordable by them. The thirst for existing homes among first time buyers has recorded a steady decline in the sale of housing inventory. The median price for all home types in October 2009 was $173,100. This was 7.1% less than the median prices of October 2008. It is expected that the prices of existing homes for sale should stabilize by the second half of 2010. If that happens, the home sales will remain at healthy levels, normal to the economy and there will be no more price overcorrection worries among the buyers. This decrease of the home prices are going to create extremely favorable conditions for affording homes. These factors are applicable to all types of homes including single homes, condominium and all other existing homes. The NAR chief was found saying that home loan interest rates were lowest in the month of October. But the fixed rate loans fell to 4.95 percent in October from 5.06 percent in September. With tax credit extended to 2010 and affordable homes for sale, there is no reason to wait longer to buy your dream home. This is the right time to invest in property and make the most of the current economic conditions. To help you make wise decision, hiring an experienced realtor will get the best negotiable deals in your hand. Visit www.greatwestgmac.com to get in touch with some of the best real estate professionals in the Sacramento region.

For additional resources and information please visit the following sites. Resource Links:
http://www.gmacrealestate.com
Bill Fields All Star Coaching Program: http://www.AllStarCoaching.net GreatWest GMAC Search all MLS Listings: http://www.LocalHomeLink.com GreatWest GMAC Consumer Buyer/Seller Blog: http://www.GreatWestBlog.com
T. Sami Siddiqui (Broker/ Owner) Buzz About Sacramento Blog: http://www.samisiddiquiblog.com Brodie Stephens (Executive Vice President) One Stop Blog: http://www.brodiestephensblog.com GreatWest Podcasts- Weekly Updates on new REO, Short Sale, Bank Owned Foreclosure Listings: http://www.HouseTalkOnline.com GreatWest Videos: http://www.youtube.com/brodiestephens Facebook Brodie Stephens Profile Page: http://www.facebook.com/brodiestephens Facebook GreatWest Profile Page: http://www.facebook.com/searchmlshomesforsale MySpace Brodie Stephens Blog: http://www.myspace.com/brodiestephens MySpace GreatWest Blog: http://www.myspace.com/greatwest Picasa Web Album: http://picasaweb.google.com/brodiestephens
GreatWest Real Estate Careers- GMAC is looking for Professional Realtors to Join Us: http://www.CareersWithUs.com Global Employee Relocation: http://www.employeerelocation.blogspot.com Apply for a Loan: http://www.choice1funding.com
ActiveRain Blog Brodie: http://activerain.com/blogs/brodiestephens
ActiveRain Blog Company:http://activerain.com/blogs/greatwestgmac
Sacbee:http://www.sacbee.com
Company WordPress Site:http://www.thehomeholders.com
Real Living:http://www.realliving.com

Sacramento - Real Estate Tips

Sacramento - Real Estate Tips

Investment in real estate is said to be the safest form of investment any individual can make. Having found your dream home with the help of a real estate agent, you are all set to buy it. But wait! Are you warned about the risks involved in investing in real estate investment? Here are a few points that you need to before making your bid on the property.
Getting a ‘real’ real estate agent:
With many agents in the market, finding an agent who has the best deals to offer at the best property is difficult. With real estate going online, the reach of agents to clients has grown over the internet. With many scams on the internet choosing a genuine real estate agent is an intelligent task.
Never be in a hurry to make decisions:
Some kinds of deals require more time than others. Do not mix real estate negotiations with your regular work. Take time to make sure you are not being cheated. Make sure you have enough time to visit various investment programs before deciding on a particular property.
Enough finance:
A deal well settled is a good deal. A buyer or a seller is not happy as long as he is satisfied that he has sold above the market price and bought below the market price. Before making a deal, investigate on different ways to fund your investments. Government grants and mortgage loans are to be closely considered.
Stop negative flow of cash:
Just like other investments, you can incur losses in real estate. A deal that leaves you with less money than what you had when you started is said to have created a negative flow. An excess of negative flow deals will leave you in an insolvent state. This requires you to understand the vitality of identifying transactions that will work out in favor of you.
Know when to call it quits:
If you feel you are stuck with the same property for quite a long time, then it is time you do something about it. If you feel it would be a good idea to hang out on this property, then it might be the right thing to consider. Look at the market position before calling for prospective buyers.
Real estate mostly portrays our status and pride. Come to think of it! Pride can kill a deal. The investment must be measured on the lines of your potential, quality of purchase and profit from the investment. Be creative! Investment in real estate is not investing more than the biggest investor, it is about investing intelligently. The trick in real estate is of both parties being positive to strike a deal without hurdles.
In the current trend of online real estate, you have to be more selective about your agent. An outstanding pioneer in the field of real estate is GreatWest GMAC Real Estate. To make a good investment with GMAC visit them on the link here: www.greatwestgmac.com.
For additional resources and information please visit the following sites. Resource Links:
http://www.gmacrealestate.com
Bill Fields All Star Coaching Program: http://www.AllStarCoaching.net GreatWest GMAC Search all MLS Listings: http://www.LocalHomeLink.com GreatWest GMAC Consumer Buyer/Seller Blog: http://www.GreatWestBlog.com T. Sami Siddiqui (Broker/ Owner) Buzz About Sacramento Blog: http://www.samisiddiquiblog.com Brodie Stephens (Executive Vice President) One Stop Blog: http://www.brodiestephensblog.com GreatWest Podcasts- Weekly Updates on new REO, Short Sale, Bank Owned Foreclosure Listings: http://www.HouseTalkOnline.com GreatWest Videos: http://www.youtube.com/brodiestephens Facebook Brodie Stephens Profile Page: http://www.facebook.com/brodiestephens Facebook GreatWest Profile Page: http://www.facebook.com/searchmlshomesforsale MySpace Brodie Stephens Blog: http://www.myspace.com/brodiestephens MySpace GreatWest Blog: http://www.myspace.com/greatwest Picasa Web Album: http://picasaweb.google.com/brodiestephens GreatWest Real Estate Careers- GMAC is looking for Professional Realtors to Join Us: http://www.CareersWithUs.com Global Employee Relocation: http://www.employeerelocation.blogspot.com Apply for a Loan: http://www.choice1funding.com
ActiveRain Blog Brodie http://activerain.com/blogs/brodiestephens
ActiveRain Blog Company http://activerain.com/blogs/greatwestgmac
Sacbee http://www.sacbee.com
Company WordPress Site http://www.thehomeholders.com
Real Living http://www.realliving.com

Sacramento - Real Estate Tips

Sacramento - Real Estate Tips

Investment in real estate is said to be the safest form of investment any individual can make. Having found your dream home with the help of a real estate agent, you are all set to buy it. But wait! Are you warned about the risks involved in investing in real estate investment? Here are a few points that you need to before making your bid on the property.
Getting a ‘real’ real estate agent:
With many agents in the market, finding an agent who has the best deals to offer at the best property is difficult. With real estate going online, the reach of agents to clients has grown over the internet. With many scams on the internet choosing a genuine real estate agent is an intelligent task.
Never be in a hurry to make decisions:
Some kinds of deals require more time than others. Do not mix real estate negotiations with your regular work. Take time to make sure you are not being cheated. Make sure you have enough time to visit various investment programs before deciding on a particular property.
Enough finance:
A deal well settled is a good deal. A buyer or a seller is not happy as long as he is satisfied that he has sold above the market price and bought below the market price. Before making a deal, investigate on different ways to fund your investments. Government grants and mortgage loans are to be closely considered.
Stop negative flow of cash:
Just like other investments, you can incur losses in real estate. A deal that leaves you with less money than what you had when you started is said to have created a negative flow. An excess of negative flow deals will leave you in an insolvent state. This requires you to understand the vitality of identifying transactions that will work out in favor of you.
Know when to call it quits:
If you feel you are stuck with the same property for quite a long time, then it is time you do something about it. If you feel it would be a good idea to hang out on this property, then it might be the right thing to consider. Look at the market position before calling for prospective buyers.
Real estate mostly portrays our status and pride. Come to think of it! Pride can kill a deal. The investment must be measured on the lines of your potential, quality of purchase and profit from the investment. Be creative! Investment in real estate is not investing more than the biggest investor, it is about investing intelligently. The trick in real estate is of both parties being positive to strike a deal without hurdles.
In the current trend of online real estate, you have to be more selective about your agent. An outstanding pioneer in the field of real estate is GreatWest GMAC Real Estate. To make a good investment with GMAC visit them on the link here: www.greatwestgmac.com.
For additional resources and information please visit the following sites.

Resource Links:
http://www.gmacrealestate.com
Bill Fields All Star Coaching Program: http://www.AllStarCoaching.net GreatWest GMAC Search all MLS Listings: http://www.LocalHomeLink.com GreatWest GMAC Consumer Buyer/Seller Blog: http://www.GreatWestBlog.com T. Sami Siddiqui (Broker/ Owner) Buzz About Sacramento Blog: http://www.samisiddiquiblog.com Brodie Stephens (Executive Vice President) One Stop Blog: http://www.brodiestephensblog.com GreatWest Podcasts- Weekly Updates on new REO, Short Sale, Bank Owned Foreclosure Listings: http://www.HouseTalkOnline.com GreatWest Videos: http://www.youtube.com/brodiestephens Facebook Brodie Stephens Profile Page: http://www.facebook.com/brodiestephens Facebook GreatWest Profile Page: http://www.facebook.com/searchmlshomesforsale MySpace Brodie Stephens Blog: http://www.myspace.com/brodiestephens MySpace GreatWest Blog: http://www.myspace.com/greatwest Picasa Web Album: http://picasaweb.google.com/brodiestephens GreatWest Real Estate Careers- GMAC is looking for Professional Realtors to Join Us: http://www.CareersWithUs.com Global Employee Relocation: http://www.employeerelocation.blogspot.com Apply for a Loan: http://www.choice1funding.com
ActiveRain Blog Brodie http://activerain.com/blogs/brodiestephens
ActiveRain Blog Company http://activerain.com/blogs/greatwestgmac
Sacbee http://www.sacbee.com
Company WordPress Site http://www.thehomeholders.com
Real Living http://www.realliving.com

Our Pledge to Professionalism in Real Estate

From time to time we like to remind home buyers and sellers what we believe our role is when we go to work for you as your real estate agents.

Trusted Advisors - As your trusted advisor, we listen to your goals, recommend the right resources to help you reach them and share with you our experience and expertise.

Skilled Negotiators - As your skilled negotiator, we will help you explore all options, respect your confidentiality and steadfastly represent your interests.

Expert Facilitators - We will handle all the details and work to ensure that the sale we put together stays together.

Contact Mike @ 425-6066, email: michaeloday@greatwestgmac.com or Pat @ 956-8928, email: patrickryan@greatwestgmac.com or visit our website, www.primohomesearch.com

Premier Service - Select the Best!

Our many satisfied customers over the years know what the cornerstone of our success has been and why our business slogan is "Performance, not Promises". It begins with Premier and ends with Service!

Premier Service is an innovative way of doing business that sets us apart from our competitors while giving our clients the value and attention that they deserve. We not only ensure the success of your real estate transaction, but also the quality of your experience.

Through Premier Service, we will:

• Listen to your needs - delivery of a service experience based on your needs and desires.
• Establish clear expectations - a clear understanding of the roles we play in the sale of your home and how we will work together.
• Commit in Writing - we sign s Service Commitment as our promise to deliver on those expectations.
• Perform the service - we deliver on our written commitment.
• Solicit your feedback - every one of our clients receive a survey to complete after the transaction that will be used to measure and evaluate our performance.

If you or anybody you know is in need of competent, professional real estate assistance, contact Mike @ 425-6066, email: michaeloday@greatwestgmac.com or Pat @ 956-8926, email: patrickryan@greatwestgmac.com You can also visit our website, www.primohomesearch.com

Dream of Homeownership Extended!

As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that:

Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.

Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010.

Here is more information about how the Extended Home Buyer Tax Credit can help prospective home buyers become part of the American dream. If you have specific questions or need additional information, please contact a tax professional or the Internal Revenue Service at 800-829-1040.

For more details go to our website, www.primohomesearch.com or contact Pat @ 956-8926, email: patrickryan@greatwestgmac.com or Mike @ 425-6066, email: michaeloday@greatwestgmac.com

Congress Expands and Extends HomeBuyer Tax Credits!

Buyers who have owned their current homes at least five years would be eligible for tax credits of up to $6,500. First-time homebuyers — or anyone who hasn't owned a home in the last three years — would still get up to $8,000. To qualify, buyers have to sign a purchase agreement by April 30, 2010 and close by June 30.

However, lenders remain cautious and credit standards are tough, so the best rates are available only to borrowers with solid credit and a 20 percent down payment. (AP)

For more information and details on the new tax credit contact Mike 425-6066 (michaeloday@greatwestgmac.com) or Pat 956-8928 (patrickryan@greatwestgmac.com)

30 Year Home Loans Still Under 5%

Rates this week for 30-year home loans stayed below 5 percent for the second week in a row.

The average rate fell to 4.91 percent from 4.98 percent a week earlier, mortgage company Freddie Mac said Thursday.

Rates hit a record low of 4.78 percent in the spring, but are still attractive for people looking to buy a home or refinance. (AP)

For more information contact Mike at 425-6066 (michaeloday@greatwestgmac.com) or Pat at 956-8928 (patrickryan@greatwestgmac.com)

Why Hasn't My House Sold?

You Haven't Priced Your Home to Sell!

Sellers say, "But I don't want to give away my house." Of course, not. You want to sell it. To sell your home, the price must be right. Don't "test" the market or ask an inflated figure because if you do, your home will probably sit on the market and the days on market (DOM) will continue to tick. Dated listings don't generally sell for list price.
To avoid overpricing your home, examine the sold comparable sales. Adjust for square footage, if necessary. If your home has a bad layout or is located in bad location such as next to a school, on or near a busy street or bordering a liquor store, you're not going to get the same price as homes with a good layout and in a good location.
For example, if the last three homes sold at $400,000 but you feel they are not comparable to yours because they don't contain updates -- but they were located on a quiet street and your street is noisy -- your home is probably worth about the same. A plus-$50,000 adjustment for the updates could wash out the minus-$50,000 for the busy street.
In a buyer's market, price your home a minimum of 2% less than the last comparable sale. If you can't live with that price, then don't put your home on the market and set yourself up for disappointment. Overpricing is the worst mistake a home seller can make.

Want answers to more of your questions? Contact Mike at 916-425-6066, michaeloday@greatwestgmac.com or Pat at 916-956-8928, patrickryan@greatwestgmac.com or visit our website, www.primohomesearch.com

August Home Sales

Click on Image to Enlarge

For more information contact Pat at 916-956-8926, patrickryan@greatwestgmac.com or Mike at 916-425-6066, michaeloday@greatwestgmac.com or visit our website, www.primohomesearch.com

Sacramento County Median Home Price Down 53.5 Percent From 2005 high

Last month, Sacramento County marked the fourth anniversary of its housing boom high with a median sales price of $180,000 – a whopping 53.5 percent less than in August 2005, property researcher MDA DataQuick said Thursday.
The county's August sales tally of 2,061 new and existing homes likewise fell well short of 3,800 in August 2005.
Now, four years later, these DataQuick numbers reveal the long, hard fall taken by the capital region, a descent defined by billions of dollars in lost home equity, more than 42,000 foreclosures and a marked slowdown in home sales.
A reversal of fortune that began in Sacramento County during the late summer of 2005, then quickly spread to seven other area counties, made Sacramento one of the first big U.S. housing markets to spin out of control. The aftermath still plays out in 2009.
"Everybody says buy a house. It's the best investment of your life," said Scott Seacrist, 30, who bought a small home in Sacramento's Elmhurst neighborhood in March 2006. "If I lived here 20 years, it would be the best investment."
Seacrist, like thousands of area buyers four years after the boom crested in Sacramento County, owns a home that's worth less than he paid.
"We love our house," said the married schoolteacher, noting that "it has a lot of charm." But a sustained housing downturn that came after moving in has provided its occasional bouts of anxiety.
No wonder, economists say.
"The bubble we saw was a once-in-a-century kind of event," said Dr. Sanjay Varshney, dean of the College of Business Administration at California State University, Sacramento. "You seldom see all the conditions in place simultaneously that allowed it."
DataQuick reported another month of uncertainty on the housing front. The researcher counted 3,375 closed escrows in August on new and existing homes in Amador, El Dorado, Nevada, Placer, Sacramento, Sutter, Yolo and Yuba counties. That was down sharply from 3,815 in July and marked a third straight month of lower sales than the same time last year.
There were 3,998 closed escrows in August 2008, DataQuick reported.
The firm noted that sales similarly fell from July in the Bay Area and Southern California. Its analysts attributed the drop to "a thinning inventory of foreclosure properties and financial uncertainty among potential homebuyers."
For months, first-time buyers in the capital region have expressed increasing frustration at being outbid on a dwindling supply of bank repos.
"In Sacramento County, foreclosure resales were 50.4 percent of sales in August," said DataQuick analyst Andrew LePage. "That's the lowest since 43.8 percent in December 2007."
Would-be buyers are nervous, too, about jobs as capital-area unemployment has reached 11.8 percent. LePage said, "It's not as if the job market is creating huge demand."
Four years ago, such a bleak scenario seemed improbable to experts at all levels. But it became real as median sales prices peaked at $387,000 in Sacramento County – after doubling in four years – and then rolled backward. The median, a point where half sell for more and half less, has fallen by more than 50 percent in Sacramento, Sutter, Yuba and Amador counties and more than 40 percent in El Dorado, Placer and Yolo counties.
The steepest peak-to-trough mark in Sacramento County came in February, when the median price fell to $160,000, down 58.6 percent.

DataQuick records show 2005 highs of $501,000 in Nevada County and $474,000 in Yolo County. Yuba County reached $351,500, while Placer County touched a boom high of $525,000. Sutter County peaked at $339,000. El Dorado County's high was $531,250. Amador County crested at $425,000. Sacramento Bee 9/18/09

For more information contact Pat at 916-956-8928, patrickryan@greatwestgmac.com or Mike at 916-425-6066, michaeloday@greatwestgmac.com or visit our website, www.primohomesearch.com

Backlash Against Banks Growing Over Mortgage Modifications

James Seeley, a machine shop supervisor at the University of California, Davis, just wants a modified mortgage that he and his wife, Sandi, can better afford.
It's a common quest in this economy. Seeley's wages are being cut. His house in Natomas has lost almost half its value. And he owes more than it's worth, even with a $125,000 down payment in 2006.
"We want to get payments down to 31 percent of our income," said Seeley.
In Curtis Park, Hilary Egan is trying to do the same. Her contractor husband has seen a considerable drop in business. She wants a modification before their interest-only loan resets next year to higher payments.
The Seeleys and Egans, both current with their mortgages, have something else in common: Both their modification requests were denied.
Their rejections have aligned them with a broad and growing swath of public opinion: sore that a U.S. banking industry that has received billions of dollars in taxpayer support in the past year hasn't reciprocated on their behalf.
"I don't know a single person who has benefited from the money that was given to lenders," said Egan.
Added Seeley, "The taxpayers are the largest investor in these companies, so I would think they would be taking care of us first."
Banks and financial institutions aren't usually adored even in best of times. But after absorbing much blame for exuberant lending that created the housing bubble, they are increasingly absorbing a backlash for their response to the subsequent foreclosure crisis.
It's not hard to see why. While banks and loan servicers have promised for almost three years to better address rising stresses on their home loan borrowers, foreclosures and defaults still haven't seriously slowed.
The eight-county Sacramento region has counted more than 42,000 foreclosures since the start of 2007. Many area neighborhoods are scarred by vacant repos and dead lawns that pull down property values of other homeowners. Statewide, the foreclosure tally has passed 410,000, and it's believed thousands more are inevitable.
As a result, it's not just borrowers griping about the inability of banks to contain the crisis. Elected officials, besieged by complaints from constituents, are increasingly applying pressure as well.
This month, the League of California Cities, convening in San Jose, will consider a resolution urging 480 cities to yank deposits from banks that "fail to cooperate with foreclosure prevention efforts."
"If you count up the money cities have in banks, that's an amazing amount of power," said Los Angeles City Council member Richard Alarcon, a former state lawmaker. "We have never tried to seize it. I'm trying to seize it. If you're not a good player on the foreclosure front, we're not going to put our money in your bank."
Last week, the Elk Grove City Council voted 4-0 to back the notion and lobby for it at this month's convention. The city of 141,000, one of the fastest growing in California during the housing boom, in the bust became an epicenter of defaults and foreclosures.
"It's time. It's past due. We should have done this some time ago," said Vice Mayor Sophia Scherman, who lives next to a foreclosed home. "It's going to send a very strong message to these institutions."
Others aren't so sure. Tony Cherin, professor of finance at San Diego State University, said, "I can understand the frustration."
But he said cities would have fewer choices for investing because of bank failures and mergers during the meltdown. He said cities' options "may be limited even though they would like to divest themselves."
Two weeks ago, U.S. Rep. Doris Matsui, D-Sacramento, and more than a dozen other California House members applied their own pressure. They wrote Shaun Donovan, secretary of the U.S. Housing and Urban Development Department, urging him to turn up the heat on mortgage lenders to modify more loans. Matsui and others wrote that homeowners who use HUD-approved counselors to contact loan servicers are often "rebuffed or told they couldn't be helped until they were behind on their payments." Sacramento Bee 9/6/09

For more information contact Pat at 916-956-8926, patrickryan@greatwestgmac.com or Mike at 916-425-6066, michaeloday@greatwestgmac.com or visit our website, www.primohomesearch.com

Mortgage-Relief Program Helps Relatively Few Troubled Homeowners

WASHINGTON – Major mortgage service companies boosted the number of trial modifications they offered to distressed homeowners in August, the government reported Wednesday, but the workouts still cover only a small fraction of the delinquent loans that are eligible for help.
The Treasury Department released its second monthly report on loan modifications under the Obama administration's Making Home Affordable Program. It said that servicers had started 360,165 trial modifications through August, up by 124,918 from the modifications reported through July. The number of offers for trial modifications rose by 164,812, to 571,354 through August.
The total number of trial modifications started represented 12 percent of all loans that are 60 days late on payments and considered eligible for the Obama administration's program. That's up from 9 percent through the end of July.
"We think all the servicers could do more than they are doing now," Assistant Treasury Secretary Michael Barr told the housing subcommittee of the House Financial Services Committee on Wednesday.
The program is on track to meet its target of 500,000 trial modifications by November, Barr said. That number, however, is a small percentage of the more than 6 million potential foreclosures over the next three years that many analysts forecast.
Mortgage servicers, many of them large banks like Wells Fargo and Bank of America, are essentially middlemen that collect mortgage payments on behalf of investors who own securities backed by pools of mortgages. Although borrowers negotiate with servicers as if they were the lenders, the servicers represent the interests of investors, not homeowners.
From 2005 to 2008, servicers modified just 3 percent of all delinquent loans, according to documents reviewed by the House panel.
That low number led the Obama administration to create the servicer performance report, dubbed "Name and Shame," in a bid to pressure investors and servicers to do more. Forty-seven servicers now participate in the administration's program, up from 38 in July.
Wells Fargo and Bank of America improved on their July numbers but are still modifying a low percentage of eligible loans under the government program. Bank of America increased from 4 percent of eligible loans to 7 percent; Wells Fargo improved from 6 percent to 11 percent.
CitiMortgage, part of troubled Citibank, boosted its trial modification numbers to 23 percent of eligible loans in August from 15 percent in July. JPMorgan Chase, thought to be the nation's healthiest large bank, improved to 25 percent of eligible loans in August from 20 percent a month earlier.
The government's trial modification program seeks, through financial incentives to servicers and the investors they represent, to get borrowers into loans whose monthly payments are equivalent to 31 percent of their before-tax incomes.
Industry representatives said in testimony that their modification numbers were much higher than the report indicated, but there are no reliable breakdowns of individual servicer numbers to distinguish between, say, allowing a borrower to skip a payment vs. modifying an adjustable-rate loan into a low-cost fixed-rate mortgage.
"There may be other things going on out there, but to comply with our program rules and to count as a real modification you've got to get people down to an affordable (payment) level," Barr told McClatchy.
The administration will ratchet up pressure on servicers, he said, requiring new data on why loans weren't modified.
"We are requiring next month the implementation of denial codes by each servicer, and at that point we will be able to have good empirical data on reasons for denial," Barr said.
Representatives of JPMorgan Chase, Bank of America and Wells Fargo acknowledged in testimony that they fold legal fees and other foreclosure-processing costs into reworked loans, upping the balance that borrowers owe.
Only Wells Fargo said it had a special program to help borrowers with strong payment histories should they lose their jobs.
Bank of America's executive in charge of credit loss mitigation, Jack Schakett, acknowledged to the panel something long suspected but rarely spoken about publicly. Distressed borrowers who have equity built up in their homes, he said, are more likely to get foreclosed on, because there's a greater likelihood that servicers and investors who hold pools of mortgages will profit from the sales of the homes.
"The more equity that is in the house, the more the market will actually walk away with money, the less likely you will actually modify the loan," Schakett confirmed in an interview after the hearing. Sacramento Bee 9/10/09

For more information on short sales or foreclosures contact Mike at 916-425-6066, michaeloday@greatwestgmac.com or Pat at 916-956-8928, patrickryan@greatwestgmac.com or visit our website, www.primohomesearch.com

Long-Term Rates Down for the Third Consecutive Week

McLean, VA – Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 5.04 percent with an average 0.7 point for the week ending September 17, 2009, down from last week when it averaged 5.07 percent. Last year at this time, the 30-year FRM averaged 5.78 percent. The last time the 30-year FRM was lower was the week ending May 28, 2009, when it averaged 4.91 percent.
The 15-year FRM this week averaged 4.47 percent with an average 0.6 point, down from last week when it averaged 4.50 percent. A year ago at this time, the 15-year FRM averaged 5.35 percent. This is the lowest the 15-year FRM has been since Freddie Mac started tracking it in 1991.
The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.51 percent this week, with an average 0.5 point, up from last week when it averaged 4.51 percent. A year ago, the 5-year ARM averaged 5.67 percent.
The one-year Treasury-indexed ARM averaged 4.58 percent this week with an average 0.5 point, down from last week when it averaged 4.64 percent. At this time last year, the 1-year ARM averaged 5.03 percent.
(Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage.)
“Interest rates for fixed-rate mortgages eased for the third consecutive week and remained at 3-month lows,” said Frank Nothaft, Freddie Mac vice president and chief economist. “Interest rates for 30-year fixed-rate mortgages have averaged just above 5 percent through mid-September, which is roughly a percentage point below last year’s average and suggests that 2009 may reach a record annual low since the survey began in 1971.
“Low mortgage rates are aiding new home construction. Housing starts for single family homes have increased consecutively over the five past months ending in July, although starts eased slightly in August. Moreover, homebuilder confidence improved for the third straight month in September, with all four regions showing positive gains, according to the National Association of Home Builder’s Housing Market Index.”
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters.

Contact Mike at 916-425-6066, michaeloday@greatwestgmac.com or Pat at 916-956-8928, patrickryan@greatwestgmac.com or visit our website, http://www.primohomesearch.com/

Condo Purchases Require Extra Steps

Homebuyers contemplating purchasing a condominium should review a long list of documents and other information to make sure that the property they are considering is a solid buy in this challenging market.

The following information is a the top of the must-consider list:

Budget - Examine the current budget, a year-to-date statement of income and expenses, and a couple of previous years’ budgets to see how they’ve changed.

Reserve study - Understand the plan for maintenance and how it will be paid for.

Special assessments - Ask if there have been any and whether more are planned.

Delinquencies - How many owners are behind in their payments? Many lenders say no more than 15 percent of owners can be in arrears or they won’t write mortgages in the complex.

Source: Chicago Tribune, Lew Sichelman (08/23/2009)

For more real estate news and information, contact Mike at 916-425-6066, michaeloday@greatwestgmac.com or Pat at 916-956-8928, patrickryan@greatwestgmac.com or visit our website, www.primohomesearch.com

10 Housing Markets Likely to Rebound Soon

Real estate forecasting service Local Market Monitor, which predicts housing market trends for investors and banks, forecasts that housing prices will decline an average of 5 percent through 2010. This prediction includes double-digit decreases in Phoenix, Miami, and Las Vegas.

But then the worst could be over, says CEO Ingo Winzer. As the recession eases, “We’ll see good price increases in many markets,” he reports.

In the following markets, home values are expected to remain level this year but increase in value next year:

Baton Rouge, La.
Buffalo-Niagara Falls, N.Y.
Dallas-Plano-Irving, Texas
Fort Worth-Arlington, Texas
Houston-Sugar Land-Baytown, Texas
Little Rock-North Little Rock-Conway, Ark.
Omaha-Council Bluffs, Neb.-Iowa
Pittsburgh, Pa.
San Antonio, Texas
Syracuse, N.Y.

Here are the 10 largest markets where prices are expected to continue to decline through 2010:

Fresno, Calif.
Las Vegas-Paradise, Nev.
Miami-Miami Beach-Kendall, Fla.
Orlando-Kissimmee, Fla.
Phoenix-Mesa-Scottsdale, Ariz.
Portland-Vancouver-Beaverton, Ore.-Wash.
San Jose-Sunnyvale-Santa Clara, Calif.
Stockton, Calif.
Tacoma, Wash.
Tucson, Ariz.

Source: Local Market Monitor (09/09/2009)

For more real estate news and information contact Mike at 916-425-6066, michaeloday@greatwestgmac.com or Pat at 916-956-8928, patrickryan@greatwestgmac.com or visit our website, www.primohomesearch.com

90-Day Notice to Tenants - Mandatory?

Q. I heard that I now must give my tenants a 90-day notice to terminate a month-to-month tenancy. Is that correct?

A. Not necessarily. You may be referring to the new Protecting Tenants at Foreclosure Act of 2009 (effective May 20, 2009; expires 2012). This new federal law provides that all “bona fide” tenants on a month-to-month tenancy must get a 90-day notice prior to eviction after a foreclosure has taken place. A “bona fide” tenancy is one where the tenant is not the mortgagor or a member of the mortgagor’s family, the tenancy is the result of an arm’s-length transaction, and the tenancy requires rent that is not substantially lower than fair market rent or is not reduced or subsidized due to a federal, state, or local subsidy.

However, if there hasn’t been a foreclosure, then a tenant must be given either a 30-day or a 60-day notice to terminate a month-to-month tenancy. The 30-day notice is required for a tenancy of less than one year. The 60-day notice is required for a tenancy of one year or longer. Note: A Section 8 tenancy requires a 90-day notice.

Sonia M. Younglove, Esq., is C.A.R. senior counsel.

Contact Mike at 916-425-6066, michaeloday@greatwestgmac.com or Pat at 916-956-8928, patrickryan@greatwestgmac.com or visit our website, www.primohomesearch.com

SmartZip's New Home Valuation Tool

Move over Zillow.com, here comes SmartZip, a new home valuation analytic that assesses California and Florida properties' potential for growth and income. The site predicts a property's projected 10-year return on investment, monthly cash flow, region's potential for job growth, plus the usual barometers of desirability, schools, safety, and lifestyle ratings. Visit www.smartzip.com to learn more. Better yet, contact Mike at 916-425-6066, michaeloday@greatwestgmac.com or Pat at 916-956-8928, patrickryan@greatwestgmac.com. You can also visit our website, www.primohomesearch.com

Mortgage Protection Plan

On April 2, 2009 the Housing Affordability Fund launched a new program designed to provide peace of mind to first-time buyers who are hesitant to enter the housing market due to concerns about potential job loss, and subsequently being unable to meet their monthly mortgage obligations. Qualifying buyers can receive up to $1,500 a month for up to six months in the event of job loss, a qualified co-buyer can also receive a $750 benefit for up to six months to help pay the mortgage.

To qualify for the Mortgage Protection Program, Applicants must:

· Be a first-time home buyer – someone who has not owned property in the last three years (includes co-buyer).

· Open escrow April 2, 2009, or later, and close on or before Dec. 31, 2009 (purchase agreement cannot be dated before April 2, 2009)

· Use a California REALTOR® in the transaction

· Purchase the property in California

· Be a W-2 employee (cannot be self-employed)

For more information contact Mike at 916-425-6066/ michaeloday@greatwestgmac.com or Pat at 916-956-8928/ patrickryan@greatwestgmac.com or check our website www.primohomesearch.com

When Does a Foreclosure Begin?

Lenders will initiate foreclosure proceedings when homeowners become delinquent in their mortgage obligations, usually after three payments are missed. The lender will then notify the buyer in writing that he or she is in default. The lender can request a trustee's sale or a judicial foreclosure, in which the property is sold at public auction.

A borrower can cure the default by paying the overdue amount and the pending payment after the notice of default is recorded, usually no later than a few days before the property's sale.

Some sales allow the successful bidder to take possession immediately. If the former owner refuses to vacate the premises, the court can issue an unlawful detainer that allows the sheriff to come out and evict them.

Borrowers should do everything they can to avoid foreclosure, which is one of the most damaging events that can occur in an individual's credit history.

Copyright © 2008 Inman News
All Rights Reserved

Mike at 916-425-6066, michaeloday@greatwestgmac.com or Pat at 916-956-8928, patrick ryan@greatwestgmac.com or visit our website, www.primohomesearch.com

California Housing Fast Facts

Calif. median home price - July 09: $285,480 (Source: C.A.R.)

Calif. highest median home price by C.A.R. region July 09: Santa Barbara So. Coast $885,000 (Source: C.A.R.)Calif. lowest median home price by C.A.R. region July 09: High Desert $110,650 (Source: C.A.R.)

Calif. First-time Buyer Affordability Index - Second Quarter 2009: 67 percent (Source: C.A.R.)

Mortgage rates - week ending 8/27/09 30-yr. fixed: 5.14% Fees/points: 0.7% 15-yr. fixed: 4.58% Fees/points: 0.7% 1-yr. adjustable: 4.69% Fees/points: 0.6% (Source: Freddie Mac)

Mike at 916-425-6066, michaeloday@greatwestgmac.com or Pat at 916-956-8928, patrickryan@greatwestgmac.com or visit our website, www.primohomesearch.com

Delinquencies Continue to Climb, Foreclosures Flat

The delinquency rate for mortgage loans on one-to-four-unit residential properties rose to a seasonally adjusted rate of 9.24 percent of all loans outstanding as of the end of the second quarter of 2009, up 12 basis points from the first quarter of 2009, and up 283 basis points from one year ago, according to the Mortgage Bankers Association’s (MBA) National Delinquency Survey. The non-seasonally adjusted delinquency rate increased 64 basis points from 8.22 percent in the first quarter of 2009 to 8.86 percent this quarter.

Top Line Results

The delinquency rate breaks the record set last quarter. The records are based on MBA data dating back to 1972.

The delinquency rate includes loans that are at least one payment past due but does not include loans somewhere in the process of foreclosure. The percentage of loans in the foreclosure process at the end of the second quarter was 4.30 percent, an increase of 45 basis points from the first quarter of 2009 and 155 basis points from one year ago. The combined percentage of loans in foreclosure and at least one payment past due was 13.16 percent on a non-seasonally adjusted basis, the highest ever recorded in the MBA delinquency survey.

The percentage of loans on which foreclosure actions were started during the second quarter was 1.36 percent, down one basis point from last quarter and up 28 basis points from one year ago.

The percentages of loans 90 days or more past due and loans in foreclosure both set new record highs, breaking records set last quarter. The percentage of loans 30 days past due is still well below the record set in the second quarter of 1985.

Increases Driven by Prime Fixed-Rate Loans

“While the rate of new foreclosures started was essentially unchanged from last quarter’s record high, there was a major drop in foreclosures on subprime ARM loans. The drop, however, was offset by increases in the foreclosure rates on the other types of loans, with prime fixed-rate loans having the biggest increase. As a sign that mortgage performance is once again being driven by unemployment, prime fixed-rate loans now account for one in three foreclosure starts. A year ago they accounted for one in five. While 41 states had increases in the foreclosure start rate for prime fixed-rate loans, 43 states had decreases in that rate for subprime adjustable-rate loans,” said Jay Brinkmann, MBA’s Chief Economist.

“The states of California, Florida, Arizona and Nevada continue to have a disproportionately high share of foreclosure starts, although the share has fallen slightly from last quarter. Those four states had 44 percent of all of the nation’s new foreclosures during the second quarter of this year, down from 46 percent in the first quarter.

“Florida continues to establish itself as the worst state in the union for mortgage performance, closely followed only by Nevada. In Florida 12 percent of mortgages were somewhere in the process of foreclosure, the highest in the nation, and another 5 percent were at least 90 days past due as of the end of June. A total of 22.8 percent were delinquent at least one payment or in the process of foreclosure, which is almost twice the national percentage if the Florida numbers are excluded. In contrast, the next highest states are Nevada at 21.3 percent, Arizona at 16.3 percent and Michigan at 15.8 percent.

“We also saw a major jump in FHA foreclosures. The percentage of loans with foreclosures started, the percentage of loans in foreclosure and the percentage of loans 90 days or more past due are all records for FHA. While the foreclosure starts rate for FHA loans at 1.15 percent is lower than all other loan types with the exception of prime fixed-rate loans, the FHA percentages have remained low due to a large increase in the number of loans outstanding, the so-called “denominator effect”. If the number of FHA loans had stayed the same as a year ago and we saw the same number of foreclosures, the FHA foreclosure rate would be almost 1.5 percent.

“As for the outlook, it is unlikely we will see meaningful reductions in the foreclosure and delinquency rates until the employment situation improves. In addition, in some areas where a number of borrowers have mortgages that are larger than the current value of their homes, any life events such a divorce or loss of a job are likely to translate into foreclosures until prices in those areas recover, not just flatten.

“Finally, while the various loan modification programs continue to have an impact on holding foreclosure rates below where they otherwise would be, the issue is that many of the foreclosures involve homes that are vacant, borrowers who no longer have jobs, or loans where there was fraud involved. Therefore, in measuring the effectiveness of industry or government loan modification programs it is necessary to compare the results not with the total foreclosure and delinquency numbers reported here but with the smaller subset of borrowers who can and want to qualify,” Brinkmann said

Information courtesy of the Mortgage Bankers Association (MBA), a national association representing the real estate finance industry.

Mike @ 916-425-6066, michaeloday@greatwestgmac.com or Pat at 916-956-8928, patrickryan@greatwestgmac.com or visit our website, www.primohomesearch.com

Riders on the Fence! Listen Up!

In the last couple of months I have had a couple of buyers tell me they were not interested in pursuing short sales yet at the same time lamenting that most of the leftovers were foreclosures. To all the buyers out there that have similar feelings, I feel your pain! But, and that’s a big but at that – if you are planning on waiting for the inventory composition to change, you stand a very good chance of losing the advantage you currently enjoy in price and interest rates. It is no secret that the number of folks defaulting on their mortgages is increasing, not the other way around. Our local market is going to swell with short sales and inevitably, foreclosures.

In Sacramento County, there are currently 8,719 listings of which 3,201 are pending and 3,356 are short sales/short sale contingency. That leaves only 2.162 homes or 25% that are listed as active – of which 25% of those are foreclosures! What remains is less than 1500 homes in the entire county that would satisfy the aforementioned buyers! This is before we throw in their particular criteria. So what are the odds they will find a house before the interest rates go up? Remember, for every point increase in interest, it’s a 10% increase in the sales price.

I want all of my buyers to take advantage of this market if they can. In order to do so, you must keep an open mind, be flexible, and remain prepared to act quickly.

If you’re ready to buy your “home-sweet-home” – we are ready to help! That’s what we do – We assist clients in buying and selling their homes!! Contact Mike at 916-425-6066 or Pat at 916-956-8928. Reach us 24/7 at http://www.primohomesearch.com/ .

July Sacramento-Area MLS Housing Stats

For the third straight month, Sacramento County records a Single-Family home median sales price of $180,000. After a jump from April to May (7.7%) the figure has remained unchanged. Unlike past years, the current summer season has not shown much of a surge in sales.

There were 1,848 single family home sales in July, a 6% increase from the 1,744 sales of June. Year-to-year, the current figure is 6.6% below the 1,979 sales recorded last July. REO sales decreased 3.5% month-to-month, from 940 in June to 908 this month. REO Sales made up 49% of the total sales while short sales (16.8%) and equity sales (34%) rounded out the remainder of the total sales. Compared with last month, the amount of REO sales has declined (3.5%), while short sales and equity sales have increased (6.9% and 22.8%, respectively).

The median sales price is unchanged month-to-month, keeping the $180,000 figure from both May and June. Compared year-to-year, the current figure is 16.9% below the $216,500 of July 2008. The Total Listing Inventory declined from 5,339 to 5,327, a .6% change. Compared with last year, the Total Listing Inventory has also decreased (32.4%) from 7,880 to the current 5,327 listings. The Housing Market Supply figure dipped 6.5% from 3.1 months in June to the current 2.9 months. Compared with last year, this figure is down 27% from the 3.9 months of inventory in July 2008. This figure represents the amount of time – in months – it would take to deplete the total listing inventory given the current rate of sales. According to MetroList® MLS Data, the average home spent 49.5 days on market (from the time it was listed to the time escrow was opened) and was 1,674 square feet. Of the 1,848 sales this month, 184 (9.9%) had 2 bedrooms or less, 990 (53.5%) contained 3 bedrooms, 529 (28.6%) were 4 bedroom properties and 145 (7.8%) boasted 5+ bedrooms.

If you would like a copy of the Sacramento MLS July 2009 Statistics, drop us an email (michaeloday@greatwestgmac.com or patrickryan@greatwestgmac.com) or go to our website 24/7, http://www.primohomesearch.com/.

Average Buyers Can Afford Most Homes

Housing is remarkably affordable these days.

A family earning the nation’s median income of $64,000 a year could afford to buy 72.3 percent of all homes sold in the United States during the second quarter of 2009, according to the National Association of Home Builders and Wells Fargo.

Sellers are the ones who are paying the price. More than 30 percent of all homes sold during the second quarter sold for less than the sellers paid originally, according to Zillow.com.

A significant percentage of owners who bought within the past five years and sold during the quarter lost money on the deal, according to Stan Humphries, Zillow's vice president in charge of data and analytics.

[Editor's note: Although discussion of trends on a national level can be useful, conditions in a local market can be vastly different from what's happening statistically on a national level. For that reason, conditions for owners who've bought in the last five years might or might not resemble what analysts are seeing statistically on a national basis.]

Source: CNNMoney.com (08/19/2009)

For further information please contact Pat at patrickryan@greatwestgmac.com 916-956-8928 or Mike at michaeloday@greatwestgmac.com 916-425-6066 or our website, http://www.primohomesearch.com/

FHA Program Offers Purchase, Renovation Aid

The Federal Housing Administration is encouraging use of its little-known 203(k) loan program.

The 203(k) lets an owner-occupant borrow money for both the purchase and renovation in one loan, and put down only 3.5 percent.

The program requires the use of credentialed contractors and can include cosmetic improvements as well as major renovations like replacing plumbing or electrical. Completing the application process requires patience, says Nancy Hammock, an associate with RE/MAX Properties in Western Springs, Ill.

But in this lending environment, more homebuyers are finding 203(k)s worth the hassle. In fiscal 2008, the government insured about 6,700 of the 203(k) loans. This year, more than 11,000 loans have already been insured, according to the Office of the Comptroller of the Currency.

Source: Chicago Tribune, Mary Ellen Podmolik (08/14/2009)

For further information, contact Pat at patrickryan@greatwestgmac.com 916-956-8928 or Mike at michaeloday@greatwestgmac.com 916-425-6066 or our website 24/7, http://www.primohomesearch.com/