July-Slow month for Sacramento real estate, but rates in the low 4s make homes a bargain!
August 26th, 2010 categories: Real Estate news
Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums, and co-ops, dropped 27.2 percent to a seasonally adjusted annual rate of 3.83 million units in July from a downwardly revised 5.26 million in June, and are 25.5 percent below the 5.14 million-unit level in July 2009. Sales are at the lowest level since the total existing-home sales series launched in 1999, and single family sales – accounting for the bulk of transactions – are at the lowest level since May of 1995.
I was hoping that after coming back from my short 1-week vacation from Wisconsin Dells (See a beautiful picture of a Japanese garden attached), our market would already pick up, but I think we’ll get busier towards the Fall after an unusually slow summer. Still, buying the right house in a good location at our discounted prices, make this market a buyers’ haven.
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Gorgeous Greenbelt home backing up to the American River Parkway-Open Sunday, August 8, 2010-2-4 p.m.!
August 6th, 2010 categories: Community Events, Real Estate news, Wheeling (biking)
Imagine yourself living on the greenbelt for under $200,000! Also imagine a totally remodeled home backing up to the American River Parkway and across from the park! Unique location, great Rancho Cordova neighborhood and an exquisite remodeled home with no expenses spared! And for all the bikers out there, there is nothing sweeter than having your own bike trail behind your house!
Come see it this Sunday and have a chance to receive a 7-night cruise to Mexico, Hawaii or the Caribbean!
For more information check out the virtual tour: http://10717ambassadordr.epropertysites.com/
For more information on Sacramento real estate, please contact Carmen at 916-342-2446, or e-mail at carmen@carmenmicsa.com. Also to receive free listings, go to www.Dynamicsacramentohomes.com. And last, but not least be sure to ask for your 7-night cruise when buying with Carmen and her team of experienced agents, as well as a $500 credit to your closing costs if you mention this blog article.
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Sacramento Great Rental Market-Pricing your Rental Right!
August 6th, 2010 categories: Real Estate news
Rentals are big in our market, and buying and holding is a great strategy, as now Sacramento has turned into a cash cow! Duplexes and homes up to $150,000 are great cashflow opportunities. I have a totally remodeled home on 2008 Robert Way, Sacramento, 95825 for only $154,900, which is 1,600 sq ft. This would bring app. $1,500 in rent a month, and the mortgage and expenses would be around $1,000 depending on the downpayment, so $500 cashflow a month is not too shabby. Here’s the website and virtual tour link for the house: http://2008robertway.epropertysites.com.
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Home Price Drop-Another Reason to Become a Homeowner!
August 2nd, 2010 categories: Real Estate news
After the Federal Tax incentive went away in April, things slowed down in our market, although good and well-priced homes up to $150,000 are still being snatched up. Nonetheless, economic recovery could be choked by a drop in home prices, according to former Federal Reserve head Alan Greenspan.
On the Aug.1 edition of NBC’s “Meet the Press,” the economist warned that falling residential values could send the country into a double-dip recession. His successor at the Fed, Ben Bernanke, told Congress last week that the economy remains “unusually uncertain” and that the central bank was prepared to act if the economy loses momentum.
Source: National Mortgage Professional, Andrew T. Berman (08/02/10)
For more information on Sacramento real estate, please contact Carmen at 916-342-2446, or e-mail at carmen@carmenmicsa.com. Also to receive free listings, go to www.Dynamicsacramentohomes.com. And last, but not least be sure to ask for your 7-night cruise when buying with Carmen and her team of experienced agents, as well as a $500 credit to your closing costs if you mention this blog article.
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Mortgage Defaults decline, Low rates, Great Time to Buy!
July 27th, 2010 categories: Buyers' Tips
With home mortgage defaults decline to a 3-year low and one of the lowest interest rates, there is no better time to buy a house.
Even though it is a buyer’s market, buyers need to understand how to win the house that they like while still getting the best deal, interest rate and so on, which is why I’ve created a list of important items for prospective buyers:
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2010 $10,000 State Tax Credit for First-time Buyers! Know the Rules!
May 28th, 2010 categories: Real Estate news
Many first-time buyers are confused about the Federal and Tax Credit, so since the Federal tax credit has only been extended to the military, I will only focus on the California tax credit by attaching the questions and answers straight from the IRS website.
- I applied for the 2009 New Home Credit, but didn’t get it since the money ran out. Can I apply now since there is more money available?
- No. The 2010 New Home / First-Time Buyer Credits are only available for purchases which close escrow on or after May 1, 2010.
- I just closed escrow on a new home on April 26, 2010. Can I apply for the New Home Credit?No. The 2010 New Home / First-Time Buyer Credits are only available for purchases which close escrow on or after May 1, 2010.
- What is the difference between requesting a reservation and applying for a credit?Reservations can only be requested for the New Home Credit and are optional. Since the credits are allocated on a first-come, first-served basis, a reservation will hold the buyer’s place in line until two weeks after escrow closes, the due date of the application. Applications are used for both the New Home Credit and the First-Time Buyer Credit and are required for either credit. Read the rest of this entry »
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Becoming a homeowner again after a short sale-How soon can you do it?
May 18th, 2010 categories: Short sales
As a real estate agent, I always get confronted with the burning question regarding short sales and homeownership. Because there is a lot of confusion onthisp topic, I want to clarify this as much as possible, especially because FHA came out with an interesting new guideline that might surprise many short sale homeowners who wish to buy again after doing a short sale. Read the rest of this entry »
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Diabetes Tour de Cure Yearly Century Bike Ride turned to longer 100K ride
May 5th, 2010 categories: Community Events
After I had completed my first century ride, or 100 miles last year, I wanted to do another century ride this year as part of Diabetes Tour de Cure. This year was my fourth year participating in Tour de Cure, as a special homage to my beloved father who had Type 1 Diabetes and passed away at the young age of 53. As opposed to last year when I took a little more time to train for the ride, this year I skipped on it, and only went on a few occasional short rides, which showed during my ride uphill the merciless and steep Auburn hills.
On May 1, I left the house at 5:30 a.m. and drove towards HP in Roseville, where our tour started. Unlike last year, when I listened to an inspirational fishing radio program (my dad used to be a great fisherman -fishing was as enjoyable to him as biking and tennis are to me) and took it as a good omen, this year there was nothing good on the radio worth listening to. I also didn’t feel like turning on my I-pod, as I knew I had all the time during the ride to listen to my audio books that I receive by mail just like Netflix from Julie, a dear friend, who donated the most money to my bike ride for the last two years. She is the most avid reader I’ve ever met and runs an audio bookstore in San Jose called All Ears Audiobooks, which I highly recommend to everybody.
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$10,000 California Homebuyer tax credit possible to start May 1!
March 31st, 2010 categories: Real Estate news
Have you ever tried to eat your cake and have it, too? I’m sure you’ll try that on May 1, 2010, as many California buyers will feel like lottery winners when it comes to purchasing a house. The reason you might ask? The possibility to receive the federal $8,000 first-time buyer credit combined with the new California tax credit of $10,000. The state allotted $100 million for first-time buyers and another $100 million to anyone who buys a newly built home. California had a round of tax credits last year that proved to be popular; that program ended in July.
The latest incentive picks up where a federal first-time homebuyer tax credit of up to $8,000 is scheduled to leave off when it expires at the end of April. Should the Obama administration extend the federal tax break, that could give homebuyers in California even more reasons to buy. And although the new state tax credit is supposed to take effect one day after expiration of the federal $8,000 tax, if this credit gets extended, then buyers can potentially receive a $18,000 credit depending on their tax brackets and situation, but this could mean serious home buying frenzy!
Meanwhile stay tuned to my blog, and let’s all hope that the federal and state tax credit will overlap for tremendous buyers’ incentives to become homeowners.
For more information on Sacramento real estate, please contact Carmen at 916-342-2446 or e-mail at carmen@carmenmicsa.com. Also to receive free listings, go to www.carmenmicsa.com. And last, but not least be sure to ask for your 7-night cruise when buying with Carmen and her team of experienced agents, as well as a $500 credit to your closing costs if you mention this blog article.
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New Foreclosure/Loan Modification Bill
March 7th, 2010 categories: Real Estate news
SBX8 38 has been introduced in a special session of the state Legislature. The bill greatly enhances the declaration requirements under SB 1137, which became effective last year. For example, prior to recording an NOD, the beneficiary or trustee must send a new notice, in English and the “five other languages”, advising the borrower of the opportunity to request a modification. If the borrower requests a modification and one is not ultimately offered, there are extensive requirements on the lender to explain what alternatives were considered and rejected. Failure to comply with the requirements will result either in statutory damages, if the property was ultimately sold to a bona fide purchaser, or voiding the foreclosure, if the property went back to the foreclosing beneficiary.
For more information on Sacramento real estate, please contact Carmen at 916-342-2446 or e-mail at carmen@carmenmicsa.com. Also to receive free listings, go to www.carmenmicsa.com. And last, but not least be sure to ask for your 7-night cruise when buying with Carmen and her team of experienced agents, as well as a $500 credit to your closing costs if you mention this blog article.
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