Aaron Cullen : Folsom & El Dorado Hills Real Estate

After seeing the National Association of Realtors report that the Sacramento Region was the #1 declining market in the 2nd quarter of 2008 (36% decline in year-over-year median home price), I was thrilled to read a recent article, illustrating that we are moving toward market stabilization. Defaults peaked in April 2008 and have leveled off since.

There is no doubt that the lower end of the market is in high-demand with many, many homes receiving multiple offers and selling above asking price. In July, 70% of the home sales in Sacramento County were bank owned homes. In August, 65% of the homes sold were bank repo real estate. As this liquidation continues, banks are unloading their bad loans and raising capital. As the markets stabilize in the next year, and the credit spreads shrink, and the banks continue to re-work all the ticking time-bomb loans out there, the markets will turn and the cycle will turn once again; albeit at a much slower pace this time.

To those that are watching the market statistics and watching the efforts being made to work through the housing bust and credit crisis, there is no doubt that the markets are beginning to turn before our eyes. If you are thinking about buying a home, be smart in your choice of financing and home selection and then make your home ownership dreams come true. There is a window of opportunity for great deals right now that may begin to close in the coming year.

On October 18th & 19th, Ladies and Lords can take a journey back in time to the 16th Century, during Folsom's annual Renaissance Faire. The 2008 faire will have continuous entertainment on four stages, featuring reenactments of sword fighting and battles, comedy acts, story telling and live theater. Jugglers, magicians, jousters and minstrels will perform as well.

Proceeds from the faire will benefit the Folsom Rotary Club, Friends of the Folsom Public Library, the Folsom CAVE Teen Centers at Folsom and Sutter Middle Schools. Tickets are available for purchase at www.folsomfaire.com. Ages 0-6 are free, seniors, students and children 6-12 are $7 and adults are $12.

The National Association of Realtors recently reported that in the 2nd quarter of 2008, in year-over-year terms, the Sacramento - Roseville region real estate market was the #1 declining market in the country in terms of median home price: a 36% decline.

Mark Zandi, chief economist at Moody's Economy.com, is predicting the Sacramento area housing market should bottom and stabilize within the next 12 months. From a general standpoint, I could not be happier, as I don't think the California budget issues, consumer spending declines and local economic outlook can change without the credit crisis and the real estate market declines coming to a close. There is no question that the liquidation of bank owned foreclosure homes is a necessaary evil that has impacted the markets and will continue in the near term. The good news is, with median home prices nearing $200k in Sacramento County, credit crisis or not, housing is becoming very affordable.

If you would like to read more about the Sacramento Area real estate markets, the impact of bank owned real estate sales on the Sacramento and Folsom area real esatate markets, read Pulling Back the Curtain on REO's in Sacramento County and Folsom California .

You know the old saying.... What goes down, must come up! Make your real estate endeavors a successful one! If you have an interest in foreclosure homes in Sacramento County, visit our Bank Owned Homes / Repo List, Updated Daily.

If you are a home buyer and you are looking to purchase your 1st, maybe 2nd home and are considering real estate in Folsom, California, you have come to the right place. Housing could not be much more affordable these days, and interest rates are still low. Even if you have little money to put down, there is a financing solution available for you!

Why buy in a home in Folsom, CA? There are many reasons, but here are the items that appealed to me and my family most:

• Great schools - Several nationally recognized schools within the city.
• Lots of parks - Just about every home in every neighborhood is within walking distance of a local park.
• Small town feeling - Coming from the Bay Area, I found Folsom to have a slower "pace" without having to sacrifice the "big town" amenities of shopping, restaurants, entertainment, outdoor activities, etc.
• Beautiful scenery - Rolling hills, oak trees, open spaces, Folsom Lake and miles of hiking, biking and walking trails.
• Excellent Infrastructure - Folsom is a city, and offers an array of municipal services, including administration, police, fire, recreation, parks, and public works.
• Family based community - My wife joined "Sierra Moms," a grass-roots organization, made up by the mothers of newborns, toddlers and preschoolers, which provides moms with play groups, advice/information exchange, social interaction and an abundance of other services/activities. Most of the moms my wife met live in Folsom or El Dorado Hills. This organization was invaluable to my wife's integrating into the community.
• Cost of living- With Folsom's affordable home prices, you may be able to enjoy the luxury of one parent working and the other one raising your children... This was of major importance to my wife and I and we were able to afford it here in Folsom.

Why buy a home through Brokers Inc?

• Brokers Inc. is owned by Aaron Cullen who is a Folsom resident and has 16+ years experience helping home buyers and home sellers. Aaron Cullen also has experience with transacting in bank owned homes / foreclosure properties / REO real estate.
• Brokers Inc. has relationships with local banks & lenders to insure your loan will get the attention it deserves. If you don't have a solid pre-approval and loan lined up, you may end up wasting your time. Brokers Inc. will help you get pre-approved so you can focus on buying the right home.
• Brokers Inc. credits $2,500 to every home buyer that purchases a home through us. Just visit our website or call us to find out the details.
• If you are interested in looking at and maybe purchasing a bank owned home / foreclosure property / bank repo, Brokers Inc. has a bank repo list that is updated daily for you to look at.
• If the above reasons above are not enough, then perhaps you should consider the fact that we take your best interests to heart and we want you to be happy throughout the home buying process. Happy home buyers tell their friends and it helps us build our business.

Folsom areas served include: Empire Ranch , The Parkway , Willow Creek Estates , Broadstone , Hillcrest , American River Canyon ( ARC ), Sierra Woods , Lexington Hills , Natoma Station , Briggs Ranch and more!

Those of you who read my post on 8/15/08 entitled "My wife asks if we can adopt a horse? Otherwise they may be euthanized," may be interested to hear that the horses have been saved! Here is the link if you would like to read the follow-up article posted in the Sacramento Bee today, "Homes found for seized horses in El Dorado County." According to today's article, adoptions for four of the horses have been completed or are pending. It also suggested, due to the generosity of donors and volunteers, the remaining animals will be saved.

My wife and I would like to personally thank the Active Rain community for your support, well wishes and donations. The Grace Foundation of Northern California contacted me directly to voice their appreciation of all of our efforts and for helping them save the horses.

Best regards,
Aaron Cullen

Aaron Cullen, Brokers Inc. Residential Real Estate: www.BrokersCorp.com