Rodeo, CA

Had an old friend buy my lunch today. What a treat. Pam was active in the 203k for many years as a retail lender then went into the wholesale end of the business. Now she is creating a new 203k team as a Broker. I'm happy to say I've been invited to be on that team and proud to be. I think they will do very well with her at the helm.

It is fun to see old friends that actually aren't that old at all. It just seems that way because of all the time that passed since you last saw them. Good job Pam and I'm looking forward to working with your team of Realtors and agents.

We did make a break through today in another office when Linda B. agreed to add to her listing the words "Perfect for a 203k loan". That will be so powerful in the market as it will send a signal to agents and Brokers all over the place that the 203k should be considered. I hate to see the less learned people write on their listing "no FHA or VA" when what they really mean is "we won't make any repairs prior to closing the loan". Say what you mean and add "FHA 203k offers will be considered". If you are a listing agent and really want to do the best job possible for your client you will listen to this as it give you the opportunity to get up to 110% of the after improved value less the cost of repairs which is likely more than your asking price.

Having said that consider this - what if you were making an offer on a home listed at $250,000 and you hired a consultant or contractor to determine the "cost to cure" and it was $20,000 and the home was worth $320,000 after the repairs were made. You could get a full price offer in a heartbeat... but you could have gotten an offer at $290-300,000 just as easily. You would have had a bigger payday, your seller could have received more for their property, and the borrower or buyer would have still paid market price for the home which would further show values have stabilized... OR you could have done a lesser job for your seller and took the $250,000.

DECEMBER 2009 HOME SALES FOR RODEO CALIFORNIA

Here is a list of the actual homes sold in RODEO, California in the month of December. The average list price for the month was $173,100 with an average list price of $158 per square foot. The average sale price was $166,237 with an average square foot price of $150. There were a total of 8 homes sold in RODEO this month.

The RODEO real estate market is heating up. Knowing what is going on with regard to sales in RODEO is important for making a buying or selling decision. Finding comparables for determining price for either a listing or a purchase can sometimes be tricky because of the flucuating inventory.

For a complete list of Homes for Sale in RODEO, California, please call or visit me at www.soldbynicole.com.

If you are interested in selling your RODEO, California Home, for the most amount of money in the shortest period of time with the fewest amount of headaches and hassles, please call me at 707-337-2249.

now and then you hear about a 203k loan that went wrong. I'm not going to sugar coat anything here but most of those could have gone right had they been working with a "TEAM" of experts who know what they are doing. A team is like a well tuned engine.

You don't have to be an expert if you work with experts. If you haven't done a 203k before then look for a team that in place who has closed some. If you are a lender looking to do your first 203k call a consultant and use a team they suggest. If you are a Realtor and can't find a lender, call a consultant and get a recommendation. Call any other member of a team and let them help you put YOUR team together. You will gain experience from seasoned pros... NEVER look for 'newbies' for your entire team. It just doesn't fly.

Ricardo Ramos at Platinum Home Mortgage and I have completed hundreds of 203k projects and his company just started doing the Full 203k loans again. Watch him take off with his crew they are unstoppable.