Sacramento, CA

Here is sales data information for that area for closed sales in November 2009:

All of the 95826:

27 Sold Single Family Homes.

Median Square footage: 1,405

Median Listing Price: $175,000

Median Sales Price: $180,000

Average Days on Market: 12 days

Rosemont:

21 Sold SFR's

Median Sq. feet: 1,405

Median List: $175,000

Median SOLD: $180,000

Avg. DOM: 11

College Greens/Glenbrook:

6 Sold SFR's

Median Sq. feet:1,325

Median List: $210,000

Median SOLD: $210,000

Avg. DOM: 28

As of Today (December 4th, 2009) here's a snapshot of both markets:

Rosemont: 17 Active listings, 45 Active Short Sale/Contingent, 27 Pending.

College Greens/Glenbrook: 22 Active listings, 12 Active Short Sale/Contingent, 14 Pending.

Doug's Take: There are some great listings on the market in both neighborhoods right now. Let me know if you would like more info on any of them. As typical, Rosemont had more sales and a lower median sales price. The average days on the Market continues to drop for the 95826. This is due to lack of inventory (only 3 months for Sacramento County, considered a sellers market). As long as the inventory continues to stay low we will see homes selling for over with price within a few days.

clear skies,

doug

www.BuyWithDoug.com

In spectacular fashion, Natomas is finishing up the year on a positive rental note. I have rented up six single family homes in the past 10 days--3 of them rented before the current tenant vacated. Rents are not increasing; however, the interest received has been much improved over October and earlier November. Keeping consistent and knowing the market is paying off for informed investors. Please contact me if you need assistance placing qualified tenants.

James Safonov

jsafonov@homepointe.com

www.homepointe.com

The legend of lofts gone.....gone.... gone.

Dear Loft Buyer,
You are a special breed, you're not the kind of person that wants to live in the burbs. You might live in the city central or midtown areas, but you definitely want a modern, simple, almost edgy lifestyle. I don't blame you. With time at a premium, who wants to do yardwork? And with your busy lifestyle, it is easier to live/work/shop on foot, sparing the air and the expense of a car. I'm with you.
I went shopping today with some clients for lofts. What a treasure hunt! I couldn't find anybody in a sales office, many of the lofts that were for sale are now being leased, while developers ride out the storm of uncertainty. I do have a current map and price sheet with what's available for purchase. If you call or email, I can send it to you.
If you are shopping for a loft, don't do it on your own. You won't get a better deal, maybe a worse one with the lender bait and switch. What I mean by this is that you'll get all kinds of offers if you use the in house lender, but will pay more in loan fees and maybe higher rates.
No fooling here, you need me on your side. It won't cost you anything, you'll make a friend out of the deal and I promise you'll get the best of all possible outcomes.
Please call and we'll make an appointment.
Sandra
P.s. we can even ride my tandem bike on tour of the lofts in Sacramento, California before they're gone..... gone.... gone!
listwithsandra.com
listwithsandra@yahoo.com

916.752.8765

By the time many of you read this, I will be on a plane and headed for Seoul, South Korea, where, with any luck, I will stumble onto a connecting flight for Hanoi. Yup, we're off for a two-week trip to Vietnam, with a side tour to Ankgor Wat in Cambodia. Bye-bye Sacramento.

I have a feeling this is one of those "If it's Tuesday, this must be Belgium" tours. We're starting in Hanoi and will end in Saigon, eating our way through Vietnam like ravenous dogs. Although, I can say it's a pretty safe bet we won't be sampling any dog. Not without our knowledge, anyway.

To those of who will receive the holiday cards I mailed yesterday, let me say in my defense that I did try to sign them, but because the cards are blue with silver ink, none of the pens I tried would show my signature on the blue background. So, yes, I took the easy way out and did not sign them. I also did not want to sign my name 500 times.

But I want you to know that I folded those cards, addressed the envelopes (OK, I used labels, but darn it, I printed those labels and peeled them off the paper), put the cards inside, sealed the envelopes and affixed postage. I even drove to the post office and stuffed the cards into the mailbox myself.

I hope that counts.

I had a tough decision regarding the cards I ordered this year. Should they be Christmas cards, Hannukah cards, holiday cards or what? While I am not a practicing Christian, I do celebrate Christmas. My husband celebrates Hannukah. I suspect Brandon is probably a Wiccan.

So, I thought about who the cards were for. They're for each and every friend and client. A gift is for the recipient, not the sender. I don't buy gifts that I like when I give presents. I buy gifts that I hope the recipient will enjoy. A card is the same principle. Since cards carry messages; I figured the universally accepted message that my friends and clients would enjoy is one of peace. Blue = peace. So, that's why the cards are blue. Because I am too darn lazy to buy different cards for each person. There, now you have it. Everybody on my list will receive an identical card.

In any case, the petsitters will be at our home taking care of Brandon, Pia and Pica. No need to worry about them. See you all on December 14. If I can, I'll try to post a few pictures.

Photo: Stan Godwyn

Two interesting bits of information this morning. First, take a look at this chart from the Federal Housing Finance Agency. It shows the appreciation scale for housing in California from 1991 to present. Although we are not out of the slump by any stretch, it indicates the bottom happened in late 2008, which mirrors the movement I see in Sacramento's real estate market.

Second, another of my Bank of America short sales is about to be approved. What makes this Sacramento short sale different is the fact we submitted the file in early October, just as Bank of America was in the process of switching to its new system. The negotiator was assigned a month later in November. Typical. However, yesterday, Bank of America said the BPO will be uploaded next week; it expects approval in 10 days.

Blow me over with a feather. If this keeps up, I'll have to get a pacemaker. My heart can't stand it.

See, I envision this world as a place where a Sacramento short sale agent submits the complete package to Bank of America, and it's immediately acknowledged. The negotiator is assigned promptly. It moves from Phase 1 to Phase II within 2 weeks, goes to review, and Bank of America issues short sale approval 2 weeks later. Four weeks' time, tops.

But I'm a person who sees the glass half-full as opposed to half-empty.

It's too early to tell if this is a fluke. Last week we received approval on another Bank of America short sale within a 2-month timeframe. It could be a trend. Hard to say. But I'm keeping my fingers crossed. Because right now, I'm working on a boatload of Bank of America short sales.

If you're an agent or a seller who is exasperated by a delayed Bank of America file, ask to get that file escalated and transferred to the new system. Don't let it fall through the cracks. Once a short sale gets stuck, it's hard to unwedge it. Ask for a review of the file to ensure the bank hasn't lost any documentation. Put yourself in the negotiator's shoes. You've got 2 huge stacks of short sale files that reach the ceiling. One stack has every required document; the other is incomplete. Which would you work on?

Get timelines and hold the bank to it. Note your files. If Bank of America says it will assign a negotiator by Day X, call on Day Y. Follow up. And let me know how it goes. I'm always happy to hear from fellow short sale agents. Maybe someday we will all be as giddy about Bank of America short sales as we are about Wachovia short sales. You think?