Here are a few tips:

• Talk to the neighbors (ask what they think of the area)
• Drive through the area at different times of the day, during the week and on weekends
• Check out the other homes in the area - are they well maintained?
• Listen for noise from traffic, dogs, trains, etc.
• Smell.  Yes, smell.  Any strange odors in the neighborhood?
• Are the amenities you want near by?  Churches, schools, shopping, parks, public transpotation, etc.
• Check crime statistics by contacting the police or sheriff's departments or checking online

Be smart when you buy. Check out your potential future neighborhood.  You'll be glad you did.

What are "closing costs"?

Closing costs are "the costs of purchasing" or "the costs of selling" real estate.  Buyers have different closing costs than sellers do, although most closing costs are negotiable as part of a sale.  Typical buyer's closing costs include costs of getting a loan, pre-paid property taxes, homeowner's insurance, and escrow & title fees.  Typical seller's closing costs include Realtor commissions, unpaid property taxes, HOA transfer fees, title insurance, escrow fees, transfer taxes, and other misc fees.  Closing costs can also include the costs of inspections, home warranties, and repairs.

It's a great site with lots of great information. I urge you to check it out:  www.houselogic.com.

On December 15, 2009, El Dorado County's Board of Supervisors approved the implementation of Proposition 90 for inter-country property tax base year transfers.

This will allow seniors moving to El Dorado County to transfer their Proposition 13 base year value to be transferred from a previous residence to a replacement residence.  As with anything relating to taxes, however, there are conditions to be met to qualify.

And, unfortunately... Sacramento and Placer counties do not participate in Proposition 90 tax base transfers.

For my previous blog post on Propositions 60 and 90, click here.

For more information on El Dorado County's implementation, click here.

And for even more information, click here.

What is an "appraisal"?

A written evaluation or analysis of the market value of a property (the "subject" property), primarily based on an analysis of comparable sales of similar properties near the subject property.

Cleanliness - or lack thereof - can be a real turnoff to a potential buyer. Some sellers think it's too much of a hassle to keep the house clean all the time.  They think that if a buyer really wants their home, that buyer look beyond the dirt and mess.  That couldn't be further from the truth.

A messy house can turn off a buyer immediately. I've worked with buyers who walked in, saw a mess, and turned around and walked out. They figured that if a seller was too lazy to keep the house clean to sell it, then what other things has the seller "been too lazy to address?"

As we've heard for years, "you never get a second change to make a first impression."  Ensure that first impression of your home is positive.

Some things to consider:

• Make the outside of your home attractive. Mow the lawn. Trim the hedges. Put the garbage cans in the garage or yard. Clean the oil stains off the driveway.
• Clean the kitchen. Put dirty dishes away. Throw away the pizza box from last night. Clear the counters of everything but the essentials.
• Clean the bathrooms. Put the toilet seat down.
• Put the toys away.
• Pick up the clothes and put them away.
• Remove the litter box from the house.
• Clear the clutter
• And clean, clean, clean...

Sound like too much work?  Well, it is... but you are trying to sell your home for top dollar, aren't you? 

Need I say more?

Some other great related articles:

Sellers - Consider These Quick Tips

Secrets to Selling for Top Dollar

5 Tips to Prepare for Buyers

Clutter Be Gone

Kitchens & Bathrooms Sell Homes

I tell them the same thing over and over.  They can actually have an advantage selling in the current market. An advantage?  Yep!  There are many buyers who shy away from foreclosures and short sales.  Foreclosures can be scary for some buyers because of the "unknown" factors surrounding foreclosures.  Short sales can take a long time, if they happen at all.

So, "regular" homes for sale, those that are not foreclosures or short sales, can appeal to buyers.  They have an advantage over the distressed properties.

However, they must be able to COMPETE.  Compete how?  Yes, the word you didn't want to hear: PRICE.

Regular sellers can certainly compete, but they must "price right."  As with anything, price is king.

Price it right and it WILL sell... PERIOD! 

And, of course, the states that benefited the most from the real estate boom a few years ago, are the ones that top the list for the hardest hit in the housing crisis.

They are... as you might have guessed:

• California
• Florida
• Arizon
• Nevada

When are the lenders and the government going to "get it"?

Even if a lender lowers someone's house payment, let's say down $100 per month, but that homeowner still owes $100,000 more than the home is worth, then how much has that loan modification really helped?  And how much longer will that homeowner continue to make payments when they feel they are just throwing good money after bad?  How long will it be until that homeowner thinks that foreclosure is a better option?

There's no good answer here... but some hard decisions will need to be made soon (by banks and government) in order to get us out of this housing crisis. 

No matter what happens... it won't be pretty... but some drastic measures may need to be taken soon.

Think about it...

Of course, one of the most important things a buyer can do to get prepared to buy - their first step - is to meet with a lender and get pre-qualified for a mortgage/loan. Better yet, get pre-APPROVED, but either is fine.

Talking with a lender BEFORE looking for a home is beneficial to buyers in four ways:

1. They learn IF they even qualify at all to buy.
2. They learn HOW MUCH they can afford to pay each month for a mortgage payment.
3. They learn WHAT STEPS THEY MUST TAKE to ensure they can actually obtain a loan.
4. They learn THE PRICE RANGE of the property they must focus on (buyers don't want to look at $300,000 homes if all they can qualify for is under $200,000).

A competent, professional Realtor will ensure their buyers are working with a successful, experience lender before they start looking at homes. This ensure the buyers are in the best position possible to buy the best home that they can afford.

Feel free to call me at (916) 241-8000 if you would like me to recommend an excellent Sacramento-area lender to speak with.

Click here for HUD's Foreclosure Prevention Guide.

Or visit http://www.hud.gov/foreclosure/.

Today is much different.  Short sales dominate. In fact, as of December 28th, about 61% of all homes on the market in Sacramento County are short sales while only 13% are foreclosures.

The numbers break down this way:

• Total homes for sale: 5,888
• Short sales: 3,582
• Foreclosures: 783

So, what's expected in 2010?  Of course, nobody knows for sure; this real estate market, along with the economy, continues to baffle the best minds in the business. However, most think that short sales will continue to play a major role in the market over the next 12-36 months, maybe longer. 

Foreclosures will likely increase, too, as more and more homeowners default on their mortgages. While lender and government attempts to stem the foreclosure rate are helping somewhat, they are not having the impact many had expected.

If you have any questions about selling your home, even if you owe more than it's worth, give us a call ASAP.  With the market continuing to change, now may be the best time to sell to maximize the price you can get for your home.

Source: MetrolistMLS. Information deemed reliable, but not guaranteed.

This post defines "encroachment."

An encroachment exists when someone's property, such as a building, fence, bush, pool or any structure, is built on or intrudes onto the property of another.

Here are four reasons that NOW is a GREAT TIME TO BUY REAL ESTATE:

1. There's LOTS to choose from. They are still a lot of homes on the market in all price ranges. Foreclosures, short sales, and regular "equity" sales.
2. Interest rates are still at historically-low levels... and they WILL go up eventually.
3. Prices are LOW.
4. There's less competition (from other buyers) during the holidays since many buyers do actually wait until after the holidays.

So, if you've considering buying, then now is truly a great time.

While there are many home selling tips on this blog, here are a few quick-tips you should consider when buyers come to see your home:

• Clean and de-clutter (of course)
• Turn on all lights (halls, bathrooms, etc.)
• Open all window coverings (natural light is critical, too)
• Put soft, classical or jazz music on the stereo
• Clear off kitchen and bathroom counters
• Don't leave dishes in the sink
• Close the toilet seats (need I say more?)
• Put some fresh flowers outside the front door and on the kitchen table
• Ensure the temperature is comfortable (a house that's too hot or too cold will help usher the buyers out quickly)
• Remove the cat box from the house
• Put some potpourri out or use air fresheners

Click here for even more powerful, profit-enhancing home selling tips.

And review 5 Tips to Prepare to Show Your Home to Buyers, too.

It's expected that this tax credit, recently extended through June of 2010 (see blog post below) and expanded to other types of buyers, will continue to play a major role in the real estate market's recovery.

In October 2008, there were 8,038 homes for sale. One year later, in October 2009, there were 3,325 for sale. This is a decrease of 58.6%.  This is a positive sign and should help level out decreasing property values. Remember, when supply decreases, demand increases. When demand increases, values eventually rise.

The number of homes sold also decreased from last October 2008 to the same month one year later from 2,154 down to 1,634, a decrease of 24.1%.

However, pending contracts - those homes IN contract - increased by 7.1%. October 2008 pending contracts was 2,236 and one year later, there were 2,395 contracts pending. Demand is rising.

The average sales price for single family homes in October 2009 was $208,000, a 1.9% decrease from the same month a year earlier at $212,000.  However, that $208,000 price is a 2% INCREASE over the month before when it was $204,000.

So... what does all this mean?  It appears that market values may (and that's a big "MAY") be starting to level out. We're seeing price levels starting to stabilize, and even increase a bit, in the lower price ranges.  However, the higher priced homes - those over $300,000 - still struggle in the current market.

And don't be fooled by national statistics. Remember, all real estate is LOCAL and national stats don't really paint an accurate picture. By saying prices increased by a "average" amount nationwide is like saying the nation's "average" temperature is 70 degrees. That's not helpful at all. So, pay attention ONLY to local stats.

Source: TrendVision - Sacramento MetrolistMLS - deemed reliable but not guaranteed.

A 30-day notice to terminate is sufficient and allowed if the tenant has lived in the property for less than one year, or if the landlord has sold the property and specific requirements are met.  This 60-day notice requirement does not apply to fixed-term leases, such as a one-year lease. 

There are other laws that address tenants in properties foreclosed upon. 

The credit, which previously was targeted to first-time buyers, now includes "move-up" or "repeat" buyers - those who have lived in their principal residence for at least five years. The tax credit for these buyers will be up to $6500.

And, remember... this is a tax CREDIT and not a "deduction." 

Of course, there are conditions and restrictions for this tax credit, including income limits, so it's important to call our office at (916) 241-8000 or contact a lender for more information and how it may apply to your specific situation.

Click here for additional info.  www.FederalHousingTaxCredit.com.