Smorgasbord Wednesday

Congratulations to Robin Sweigart of MagnumOne Realty, who just last week got her first real estate sale in contract. Robin did a great job with her listing on Paizano Court and based on what I have seen looks like she has a strong buyer and hopefully a smooth escrow and closing. Good work, Robin!

I have had a number of emails about my latest column at Rocklin & Roseville Today, “Don’t blame the sub-prime lenders.” Several were from Realtors who agreed with most of what Michael Hill had to say and a couple were from lenders who indicated their companies were doing exactly what I suggested, attempting to come up with a new and innovative loan product for the current market. One that expands the ability of borrowers to qualify for a mortgage that is affordable. In both cases I responded back asking for details but have not heard anything back. At least it sounds like some lenders are at least giving some thought to what homes cost today and how to make buying and paying for them affordable. I did get one email saying my premise was wrong, prices of homes will fall at least 50 percent more and that is the only way houses will be affordable.

I do believe we will see some continued depreciation of home values in the Sacramento real estate market but there will still be too many homes that too many buyers can’t afford. If we are going to see any recovery in the next year it has be because some of the larger and trusted lenders develop new and innovative loans that make higher priced homes affordable to more buyers.

In the meantime, more houses are coming on the market in the Sacramento area, asking prices are declining and I am getting calls about short sales.

If anyone is interested in joining a fantasy baseball league and taking over a team in a “keeper” format please let my husband, Michael know. Their group is shy one manager and the season is rapidly approaching.