Sacramento Real Estate Picking-up Steam

I have been watching and experiencing a steady increase in real estate activity around the Sacramento area. We have a number of new listings, several of which are on fire. Yesterday I listed a great home in a downtown Sacramento neighborhood, 1324 35th Street. The agent “hits” on MLS has been very high and the phone has been ringing non-stop. It is an unfortunate Sacramento short sale but will make a new buyer very happy.

The other property that is hot is another short sale but this one is in Newcastle on over 4 acres. We had an accepted offer which is being reviewed by the seller’s lender but they had to back out because they could not obtain financing. We put it back on the market yesterday and can’t keep up with the requests for more information.

Although the Sacramento listing on 35th Street and the home and acreage in Newcastle are so different they have two striking similarities. First they are priced aggressively and as important they are both beautifully maintained homes with loads of curb appeal, charm and are both move-in ready. No matter what you hear about the market and the economy, price a great house right and they will come!

Escape from it all!

Here is the view from a listing I have coming on the market soon. This is a unique home in Auburn only minutes from the freeway but a world away from the city and people. There is nothing “track” about this home and it will take a equally unique buyer to make this work. This is not a family home and is best suited for a working couple who want an alternative style home or it could be a great weekend escape pad for someone from San Francisco or the Bay Area.

If you or someone you know might be interested in learning more about this unique property let me know and I will send you more information.

Over at Rocklin & Roseville Today my weekly column this week is, “What is likely to be in the final stimulus bill?”

Busy Sacramento Week

This past week has been very busy and adds to my belief the real estate market is weather driven or at least it seems that way to me. Every time we get some warm sunny days, I am too busy to spend much time outside! It is nice to see the Sacramento real estate market continuing being active, even if the transactions are always difficult to get closed.

During the past week I have taken three new listings. The first is a very nice home in the Natomas area of Sacramento. This home is just a year old, has tons of upgrades and has been very well cared for. If you or someone you know is looking to buy in this area take a look at 510 Dnieper River Way.

The second listing is also in the Natomas area but since we have some additional work to complete before it is ready to show it is not officially on the market but keep an eye out for it.

The third listing we took this week is unique for a couple of reasons. First, this is a spectacular home on 2 plus acres in Newcastle and it is one the seller never anticipated having to sell so it has been painstakingly remodeled and shows like a dream. These sellers thought they were working with their lender and anticipated a loan modification that would allow them to stay in their home. When negotiations failed the lender quickly filed a notice of default and has set a sale date for later this month. I don’t normally like to work under such pressure but we have had success with this lender and feel if we can get an offer in quickly, we have a chance to delay the sale and avoid foreclosure. For this reason we have priced the home super aggressively. Take a look at 1001 Kentucky Greens Way, and let me know what you think.

I am looking out the window and seeming clouds moving in. Would you know, just as I am catching up!

Are you financially prepared for home ownership?

I just posted my third of a five part series dealing with the question, “Is it the right time to buy a home in Sacramento?” The article is posted over at Rocklin & Roseville Today as part of my real estate column, “Is it the right time – are you financially prepared to be a homeowner.” If you want to read the entire series you can find all five articles on my personal website.
Just being out and about today has to make you feel good. Here we are in the second half of November and the sun is out, the sky is blue and it is warm. What more could you ask for.

In the real estate business, we have been busy. I spent all day Friday out with a great new buyer. His company is looking for a home or multi-family unit where his employees can live while they are working on several projects here in the Sacramento area. We saw some interesting properties and went to a few neighborhoods I hope to never see again. In addition, our Short Sale negotiator has been having some success with a few lenders and getting short sales approved.

Working with the lenders is a difficult and long task. Unfortunately they appear to view us as the enemy rather than someone helping them avoid a larger loss. After you get them approved there is nothing more frustrating than having the buyer bail. This happened last week on one of our Sacramento listings. If you or someone you know is looking for a great investment or starter home, this property on 73rd Street is a great deal and the bank is ready to go!

New Listing near Sierra College

I just listed a great home in Rocklin’s Reflections at Sierra College which has 3 bedrooms, 2.5 baths and almost 1,600 square feet of living space. If you are looking for a home and not a lot of yard work this is the house for you. With a small front and back yard you have all the benefits of a single family home but without the headache of having to care for a large yard. The private fenced back yard has a patio, shade pavilion and room for a garden. It is a great place to entertain or relax on a warm summer evening. This is a short sale and won’t last long so if you or someone you know is interested in a great house within walking distance of Sierra College take a look here and get more information on my website.

Other News: Tina Farinas is hosting an open house tomorrow, Saturday, October 18 from 1 to 4 PM at her Alicia Way listing in Sacramento. This looks like a nice home and is being marketed as a Short Sale so if you are out and in the area, stop by 1536 Alicia Way in Sacramento and say hello to Tina.

New Listing in Rocklin Highlands

We have a new listing in one of Rocklin’s most desirable neighborhoods, The Highlands. Located at the top of Sierra College Road this is a semi-custom single level Tim Lewis home which has upgrades galore and has been wonderfully maintained like a new. With almost 3,300 square feet of living space there are not many single level homes as large. The only stairs in this house are the ones in and out of the sparkling pool in the resort like backyard.

As you can tell I am pretty excited about this home! Check it out on my website here or have a look at the virtual tour. If you want to arrange a private showing, please give me a call at 916 276-6883 or send an email to julie@jalone.com.

Monday - Monday

Where did Father’s Day weekend go? At our house it seemed so go by very quickly and here we are starting another busy week. I may be starting to feel the pressure of getting ready to go on vacation but it seems the Sacramento real estate market is showing no signs of slowing down.

We have continued to see a activity in the Sacramento short sale market as we picked up two new listings last week and as important, successfully finalized two short sale lender negotiations. Once we get the lender to accept the short sale proposal the purchase of the homes can start the normal closing process. I always enjoy having transactions complete but there is some extra satisfaction when they are short sales.

Check out our new listings from last week. Robin Sweigart has two new listings in Granite Bay’s prestigious Cavitt Ranch Estates. One is a spectacular luxury home with panoramic views on over four acres and the other may be the best view lot, if you can call 7.7 acres of land a lot, in Granite Bay. You can see the home here and the lot here. Tina Farinas added two new short sale listings. The first is a nice home in a great Elk Grove neighborhood and the second stretches our geographic boundaries and is our first ever listing in San Joaquin County. It is another short sale in the picturesque town of Lathrop.

If the week goes as fast as the weekend it will be Friday soon!

Golf Country

One of our agents at MagnumOne Realty has a new listing in Loomis. I have always said living in this area makes you close to everything but as a non-golfer I had never thought of this area as “Golf Country.” What I learned from the seller of this beautiful home on 2.3 acres is that from his house in Loomis there are eleven golf courses within 10 miles and believe it or not there are more than 30 courses within a 35-minute drive. With this house you don’t even need to drive as the property is big enough to safely hit wedges, pitch, chip and you can putt on your own private putting green.

If you or someone you know is looking to enjoy the county life and be “close to it all” this home is nestled among some mature shade trees and gives the feeling of seclusion with being “remote” give me a call and we can arrange a private showing. You will not be disappointed! For more information and pictured visit my website at http://www.jalone.com/ and the Golf Country Estate page

Great New Listing

As you may have noticed from my lack of posts this past week I have been a bit swamped. As much as I enjoy helping homeowners who are experiencing difficulty and need to get out from under their mortgage debt, the process of short sales is long, tedious and requires a good deal of effort. We have been making some good progress and it looks likely we will get another positive response from a lender in the next few days. Then we go through the normal escrow period and closing dance. I know there are some who feel Realtor’s drive around, look at houses and make more money than we should. It is work and generally more difficult than it should be to get some of these transactions closed.

I am not complaining because I really enjoy working with our clients. Just this past week I have met a wonderful new family and we are now helping them sell their wonderful home in the Deer Ridge development in Auburn. If you have never been there it is worth seeing. Nestled in the hills off of Highway 49 this neighborhood is beautiful with green areas, flowers, paths and large lots. The home we are selling is on Rain Tree Court and is large, well maintained and has all the upgrades you could ask for. In addition the lot and backyard is more like a first class resort. You really do have to see this one to believe it. This home is shown by appointment so call me and I’ll give you a private tour.

Price Reduction

Wow, we just reduced our 53rd Street listing in Sacramento down to $137,500. This is property that is worth looking at by first time home buyers and investors. Not only does it have curb appeal in a rapidly improving neighborhood but it has a double size lot with a cottage in the back. The small cottage has a private driveway off of 20th Avenue and the two structures are separated by a privacy fence. The house needs some work but has the potential to be a real jewel.

Speaking of nice homes on the market, check back later today and check out our newest listing on Meghan Way in Sacramento.

Sacramento Short Sale

Check this one out! Located in Fruitridge area on 53rd Street, this property has two homes on a large lot! Although both structures are small they are very cute and have a tremendous amount of potential. The main house is a 2 bedroom, one bathroom, 683 square feet with lots of hidden charm while the studio cottage is 240 square feet. Yes, as with many short sales in Sacramento, this one needs some work to bring it up to the neighborhood which is in the process of a very positive revitalization. Many of the homes, including the ones on both sides of the subject house have been renovated.

The seller purchased this property at the height of the real estate market with plans to complete the renovation and bring the house up to its full potential. With the market depreciation it just didn’t make sense for them to move forward with their plans. But now, with this opportunity to acquire this home at short sale prices the potential can be unlocked.

I am working with a wonderful client on this one and we hope to have it sold quickly so we can avoid another foreclosure. If you are not familiar with short sales feel free to contact me by phone at 916 276-6883 or by email to juliej@jalone.com. I have also written two articles on short sales. They are:

Short Sale Questions (Published February 10, 2008)
Short Sales: Road to Riches? (Published January 13, 2007)

Price Reductions

If you have been reading my blog or Rocklin & Roseville real estate column you know that I have been saying there is pressure on sellers to lower their price to get showings. After talking with two of my listing clients we have made decisions to lower the asking price on their property.

The first property we lowered is a new listing, it has been on the week less than two weeks and although we have had a fair amount of activity, we have not had an offer and do not have any solid prospects. This is my current short sale opportunity, Roseville Street, and we have a strong need to move this one along so we have reduced the asking price to $249,000. It would be a great house for a single parent, young couple or even an investor as I think you could rent this completely remodeled home easily.

The second property, Tanus Circle, in Rocklin is a different story. We have had this home on the market for months and the sellers have been reluctant to lower the price because they have added so many upgrades and improvements they feel the home is worth more than some of the other property in their neighborhood. Unfortunately, most of the homes in their neighborhood were built in 2004 and 2005 so most of them, if not all, are now worth less than the original owners paid for them. After a number of short sales, the overall value of the neighborhood has dropped. My clients are dropping their asking price by over $44,000 to $449,900. This is a great neighborhood in a nice Rocklin location and at this price the buyers will be getting a beautiful home that compares very well to more expensive homes.

Rates Fall - Price Dropped - Broker Agent

Freddie Mac reports that interest on 30-year, fixed loans fell for the fourth straight week, landing at their lowest level in nearly four years. Rates averaged 5.48 percent for the week ended Jan. 24 -- down from 5.69 percent a week ago. This drop was driven by the Federal Reserve’s biggest cut in 20 years to fed fund rate. Freddie Mac also reports that rates on 15-year mortgages declined to 4.95 percent from 5.21 percent, rates on five-year adjustable-rate mortgages dropped to 5.13 percent from 5.4 percent, and rates on one-year ARMs slipped to 4.99 percent from 5.26 percent.

Housing industry observers are hopeful that the recent decline in mortgage rates will lead to a recovery in the market.

Our sellers on Paizano Court in Roseville at Granite Bay Pointe are serious about selling and have lowered their asking price for 799,500 to $759,000. This former model home has upgrades galore, has the “wow” factor and at this price is a lot of house for the money. Call or email Robin or me to arrange a private viewing. This one is fun to see.

BTW if you happen to be a real estate professional check out this month’s Broker Agent magazine and notice who is on the cover as the Sacramento region agent broker of the month for January.

Price it Right...they will come!

Over at MagnumOne Realty, our agent Kelly Baker listed a home in Lincoln last week. Because it have been on the market for some time with another agent and it is a short sale we made a decision to price it very aggressively since the seller needs to be done with the property and the bank had conditionally approved taking a discount. We priced this Lincoln Crossing home less than $105 per square foot or $335,000 for a nice 4 bedroom, 3.5 bath, 3,206 square foot house.
If you believe there are no buyers out there, guess again because the phone has been ringing off the hook and we are already in a multiple offer situation. On the same street there are a number of other homes for sale with nothing happening. I recently read one market described as 80 percent over priced and only 20 percent realistically priced. This may very well be the case with the Sacramento market. Price it right and they will come.

Beautiful Days – Tough Times

Well at least in our home, over the past week or so we have been sharing and battling a nasty end of summer cold. It came on fast and then lingers. I am hopeful by the end of this week we will be back to full strength and have some energy to enjoy these spectacular fall days. After heat of summer these upper 70/lower 80 degree days and cool evenings are a great reminder that we live in a wonderful place.

I wrote about a new listing on Friday and then ended up having some problems with my website so if you followed the link I provided and only were able to see the virtual slide show; here is the link to the listing page for Cargill Way. I tried an experiment, embedding the slide show on the page vs. just giving it a link. It didn’t work and for a while, when we were trying to correct the problem, it looked like the entire site was lost. Got it all back and working now!

We had a couple of showings over the weekend and I am expecting to see an offer on one of my listings later today so maybe these nice days are getting a few more buyers out on the streets.

Adorable

As you can imagine, I have listed a number of homes and visited thousands more, but not often do I see a home that is truly adorable. The house I listed today falls into the adorable category! The sellers are a young couple that took a subdivision model home with lots of upgrades to the next level. It is one of those homes that you feel you could just move right in and enjoy. As slow as this market is right now I think, if we can get some showings, this one will sell quickly. Take a look at Cargill Way – Roseville and let me know what you think.

By the way, the last report from HousingTracker essentially showed inventory and median asking price flat from the previous week. It is good that inventory is not going up but shows the increase in foreclosure activity is keeping it high. Perhaps the drop in interest rate will flush out what some are calling “pent-up demand.”

Looking for a hideaway?

Check out the new listing our team just added in Colfax. This is the perfect hideaway, a remodeled 2 bedroom, 2 bath, 1,400 square foot home on a beautiful 3.6 acre site. Great little house nestled among the big shade trees and only a couple of miles off of Highway 80. Only a few minutes up the road from Auburn and you leave the city behind!

This week continues to be busy, with a combination of sellers and buyers so although the overall market seems to be in the lazy days of summer we have been busy. I anticipate we still have a few more weeks of this pace then I anticipate an increase in overall activity as we start to get close to school starting. After that happens we should see some gradual decline in inventory and maybe some firming of prices as we move into the late part of autumn.

Looking for a hideaway?

Check out the new listing our team just added in Colfax. This is the perfect hideaway, a remodeled 2 bedroom, 2 bath, 1,400 square foot home on a beautiful 3.6 acre site. Great little house nestled among the big shade trees and only a couple of miles off of Highway 80. Only a few minutes up the road from Auburn and you leave the city behind!

This week continues to be busy, with a combination of sellers and buyers so although the overall market seems to be in the lazy days of summer we have been busy. I anticipate we still have a few more weeks of this pace then I anticipate an increase in overall activity as we start to get close to school starting. After that happens we should see some gradual decline in inventory and maybe some firming of prices as we move into the late part of autumn.