About Yolo County, CA

As a Realtor, the number one question I hear is, "How much is my home worth?"

Now, while there are many pieces of information that factor into the ultimate value of a home, one tool I use, and one that I can easily share with you today, is that of Recent Home Sales.

Recent home sales are a good indicator of what your home might go value at in the current market. And thanks to the internet, this information is easy to share with you, instantly.

I suppose one of the reasons I am such a prolific blogger is that I spend so much time on hold working on short sales. I am currently negotiating six of them (with a total of 10 loans between them), so several times a week I spend a couple hours listening to hold music trying to get through to Loss Mitigation. I try to be as productive as possible, and often times in the absense of emails to respond to, listings to look up, home evaluations to do, Trulia Questions to answer, news to read, and websites to play on, I do a brain dump into my blog. It is almost theraputic.

Last week, I closed another one of my short sale listings after a very tumultuous time on the market. We were in contract a total of 3 times with 3 different buyers before one stuck. I had approval from both lenders within a couple weeks of receiving our first offer...I had tirelessly communicated with the buyer's agent while I was working with the lenders. The day I received written acceptance, the buyer's agent told me they had gone into contract on another property. ARRGGHH!

So, back on the market we went. A week or so later we had another offer...of course the approvals I had received from the lenders had an expiration date that presented an unrealistic time line for this new buyer, so I worked hard to get an extension. After about 2 weeks of waiting, that buyer got restless...2 days after that buyer cancelled, I received new approvals from the lenders. Again, ARRGGHH! I felt really bad for the sellers, who were trying to determine when to move...what a crazy up and down ride for them!

Back on the market...within another two weeks we had yet another offer. Again I had to go back to the drawing board with the lenders. Two weeks later I had written approval from the lenders - but this time they wanted the buyer to close escrow in 13 days (that's really fast!). The buyer threatened to walk away, saying that there was not enough time to close the escrow. After wrangling with the lenders, they agreed to extend the close of escrow...it finally closed escrow on November 7th.

One of the most frustrating elements in short sale transactions for me as a listing agent (aside from countless hours on hold), is the fact that you never really know if the buyer for your property is coming or going. The longest short sale negotiation I have done to date was 5.5 months, and that buyer really wanted the house and patiently waited throughout the entire process, while I have worked on others that were approved in just a couple weeks where they buyer skipped out. One thing I have learned to prep my sellers for is the fact that getting and KEEPING a qualified buyer is one of the most critical pieces in the transaction...and it is a piece we have zero control over. Luckily, I have worked with some wonderful clients who understand this and appreciate my efforts.

Well anyway, in the time it has taken me to write this post, I learned that one of my short sales was just recommended for approval!...woohoo!!!

Take a look at www.1125McArthurAve.com

and bring your buyers and investors to see this home. My seller is ready, willing and able, to sell. This is NOT a short sale nor an REO. Isn't that nice for a change!? He has been busy painting all of the interior, installing new linoleum and carpets and has just installed a new roof. This home looks great and is ready to move. Please go take a look. You won't be disappointed.

The weekly MLS meetings and broker tours for Davis are held Friday mornings at 8:30 am at the Odd Fellows Hall at 415 Second Street. The meetings are important networking and educational opportunities for all members of the Yolo ar. The schedule of events for the next several months are as follows:

October 17: Cann Tree Kick-off

October 24: Bill Emien, Daivs' City Manager - Water Issues Update

October 31: Update on CAR Statewide Meeting 2008 Legislation Handout

November 7: Rian Barrett, CAR Lobbyist to discuss recently enacted bills that affect REALTORS

November 14: Yolo ar Budget/Finance Report.

November 21: Dave Howe/Bill Miller to provide Metrolist update (active keys, next gen software, etc.)

November 28: No meeting -- Thanksgiving

December 5 : TBD

December 12: "What You Need to Know to Close a Home with Mold" presented by Carol Coder

December 19: Celebrate Meeting...more details to follow

December 26: No meeting - Christmas

January 2: No meeting - New Years.

I have been honored to serve on the board this year as a director and looking forward to the second year of my term in 2009. I feel lucky to be a part of a small association where each member's voice can be heard.

Contributed by Carolyn Gjerde-Tu, specializing in Davis Real Estate.

West Sacramento Rental Survey

I have collected current rental rates for the West Sacramento area. The chart below shows rental averages for 1 bedroom apartments, 2 bedroom apartments, 2 bedroom duplexes and/or condos, 3 bedroom homes, and lastly 4 to 5 bedroom homes.

Rent rates will vary based on current condition of the property, property features, and location. The rental averages below for 95691 can help place your rental in the competitive market.

Alexandra Machado

Property Manager

916.429.1205x700

www.HomePointe.com

amachado@HomePointe.com