Today, I received an email from Frances Flynn Thorsen who now works for Trulia as the Community Manager.
Frances wrote to let me know that this article had been FEATURED on tips for Surviving the Housing Crisis. What a thrill to be featured on Trulia. I didn't even know they did that. What a great surprise to have Sacramento Real Estate Voice Featured at Trulia. Here's the article...
Sacramento home buyers MUST be pre-approved for a home loan BEFORE looking at homes for sale.
But, before you go running around calling just anyone to get pre-approved, I suggest that you contact a professional Realtor who will know "good" referral lenders and guide you in the home buying process.
As a Realtor we have seen many home buyers, many home loans and know many other Realtors who share their horror stories about mortgage lenders. We know the mortgage lenders who should be called, the ones who you should have faith in to give the best loan tailored to your needs.
Many home buyers go to their bank to get a mortgage loan. Did you know that many of these same people are not licensed? The banks have not necessarily done a very good job with mortgage loans, hence the bailout...case in point. Do you really want to take a chance on your mortgage loan?
Not all Pre-Approvals are legitimate. A Pre-Approval for a loan is the 1st step toward home buying.
Recently, a First Time Home Buyer was "pre-approved" by Bank X, a large bank. When the home buyers came to me beaming that they had been pre-approved by Bank X my heart sank. I knew based upon past experience this could be a problem but hoped I was wrong.
These 1st Time Home Buyers found a home for sale that they loved and we went into contract on the house. During the escrow process there were some minor "red flags" that reared their ugly head but we trudged on. Then, two weeks ago, as we are approaching closing, I called Bank X to see how the loan was coming. Later, in the afternoon Bank X called and said the loan had been DENIED.
Can you imagine how these First Time Home Buyers felt at the last minute while preparing to move to their new home, that they had been denied a loan? I'll tell you, they were devastated, shock and surprised!
I quickly spun into action and called the licensed mortgage broker that I have faith in and he saved the deal! Not all lenders have the experience and knowledge that other reputable lenders have. It is so very important to make sure that home buyer understands the importance of a good loan and a reputable lender. Many of the banks have proven in the sub-prime fiasco that they have not looked out for the home buyer. Why would you go to a bank as your primary source for a loan?
Luckily, these First Time Home Buyers will be closing on their new home at the end of this month.
Just last month I sent a home buyer who called wanting to buy a house to a reputable mortgage lender. She didn't like what she heard so she called a bank who told her that she qualified for $20,000 more than what the mortgage lender told her. She felt she was ready to move ahead and look at homes for sale. When I asked her for her approval papers, she said she had none but the bank told her she was approved for $150,000. She said the bank never asked her name. BINGO!
Folks, this is not a loan approval. It's nothing! Credit, bank statements, FICO scores, W-2 forms and tax returns need to be analyzed in order to obtain a pre-approval. Anyone that thinks they have a pre-approval without providing those documents has nothing. You can not buy a house or get a loan without a pre-approval unless you are paying all cash. Even then you MUST provide bank documentation of all the funds.
Remember, not all pre-approvals are created equal.
Don't be another victim and statistic of foreclosure. Get pre-approved and call your professional experienced Realtor for a legitimate referral to a mortgage broker. We know who the good ones are. We want the best for you and want you to stay in your home, not lose it to foreclosure. We also don't want you to find out at the last minute that you can't get a loan.
How in the world can you look at homes for sale without knowing how much you can afford. All of those little calculators on the Internet are simply approximations. They do NOT give you a clear picture of your house payment.
A legitimate mortgage broker will give the home buyer a "Good Faith Estimate" which will show ALL of the costs involved in buying a house. Doesn't it make sense to know what your house payment will REALLY be? Don't you want to know what that number is?
To be a responsible home owner, you must FIRST be a responsible home buyer.
Give me a call and I will gladly refer you to a reputable mortgage broker who will be honest and get you pre-approved for a home loan.
An experienced Realtor will not show any home buyer a home for sale without a pre-approval.
So, it boils down to this, do you want to have experienced professionals working for you, looking out for your best interests or do you just want to leave it up to chance and get what you get? There are a lot of foreclosed homes where the homeowner did just that...they took a chance with the largest asset, their home.
If you have a real estate question that you would like an answer to, be sure to check out 
and read what other home buyers and home sellers have asked and feel free to ask your Real Estate question by email. Perhaps, your question will be part of the next article featured on Sacramento REAL Estate Voice.
If you like what you read here on Sacramento Real Estate Voice simply click and subscribe 
to get the latest articles sent to your email.
Other First Time Home Buyer Articles:
New Home Buyer Information You Need to Read
Home Buyers, Do You Remember Being in School?
When Should a First Time Home Buyer Buy a House?
First Time Home Buyers in Sacramento-Congratulations!
First Time Homebuyer's Check-Off List-Part I
First Time Homebuyers Check-Off List-Part II-Write An Offer
Home Buyer in Sacramento Buying in Granite Bay Speaks Up
New Homeowners in Sacramento Wed
Sacramento Home Buyer Asks Real Estate Question
Home Seller Asks Real Estate Question
Sacramento Asks Real Estate Questions
Burning Real Estate Questions, Answered
Ask Gena Answers Homeowner Question
<script type="text/javascript"></script> ShareThis
Elk Grove, CA real estate is selling. September 2008 real estate market report shows the home sales in each of the 3 zip codes, 95624, 95758 and 95757 are up. Since Elk Grove, CA experienced a high boom in new home sale, there have been quite a few foreclosures in Elk Grove.
In the below video I inadvertently said the stats were for the month and I should have said, year-to-date. I apologize for the error.
In my opinion as an Elk Grove Realtor, since Elk Grove has the highest number of foreclosures in the Sacramento area and also had the biggest new housing boom it tells me that new home builders were not looking out for the home buyers interest in getting them good loans. That's just another good reason to make sure as a home buyer looking to buy a new home from a new home builder that you are represented by an experienced Realtor. Not only will we make sure you don't over pay but we can help to refer a home buyer to a reputable lender so that you don't loose your home to a foreclosure.
Be sure to check out Sacramento Real Estate Voice for Monday's article on Getting Pre-Approved...
Elk Grove, CA Real Estate Market Report for September 2008, Year-to-Date
Elk Grove 95624
724 homes sold for an average price of $288,464
Elk Grove 95758
918 homes sold for an average price of $324,771
Elk Grove 95757
672 homes sold for an average price of $265,266
If you like what you read here on Sacramento Real Estate Voice simply click and subscribe to get the latest articles sent to your email.
The September 2008 Real Estate report for Elk Grove, CA is above showing a break-down of the three major areas in Elk Grove by zip code. Since over 90% of the homes for sale and homes sold are bank owned homes, this report is remarkable with 700 homes selling in 95624, 662 homes sold in 95758 and 847 homes sold in 95757.
The reason why there are so many bank owned homes in Elk Grove is the extreme amount of building that occurred over the past few years. In most cases, builders offer one lender to the new home buyer with very little choice in loan programs. Since prices were at their peak, loan programs were mixed with negative ARMs and fluctuating interest rates, this became a recipe for disaster.
Now, with these same homes that sold for $500,000 being resold in the $200,000 range perhaps we will have new homeowners who can now afford their loans and keep their homes.
The chart above only lists those residential homes in the Sacramento MLS. For further breakdown of a particular neighborhood, just contact me and I will be more than happy to supply that information for you.
Click to view Elk Grove, CA 95624 bank owned homes for sale
Click to view Elk Grove, CA 95758 bank owned homes for sale
Click to view Elk Grove, CA 95757 bank owned homes for sale
If you like what you read here simply click and subscribe to get the latest articles sent to your email.
Time to ask your Sacramento Realtor, Gena Riede those burning questions from Sacramento home buyer, home seller and homeowners.
Todays question is from home buyers who have lots of questions.
Dear Gena,
Why is it important for a home buyer to have their own Realtor representing them and how much does it cost?
Future Home Buyer
Dear Future Home Buyer,
Having your own representation is extremely important for several reasons. One being that your best interests are put first by the Realtor that represents you. The Realtor who represents the home buyer and no one else, only has the home buyers interest at heart. They do not represent the seller or give the seller equal time. They represent you, solely and completely.
As far as how much does it cost the home buyer to have a Realtor represent them? Nothing as long as the seller is paying the commission for both the listing agent and the buyers agent. More times than not, this is never a cost to the home buyer. I have represented many home buyers in my career and it has never been an issue. The seller has always paid and the buyer never has paid.
Happy house hunting to you and I hope that you will make sure that you are properly represented with your own Realtor.
Dear Gena,
I called an agent and just wanted to see a house. All the questions came pouring out through the phone and he wanted to meet with me beforehand. Is this normal or was he pulling something?
Angry Home Buyer
Dear Angry Home Buyer,
The agent you called sounds like a good Realtor. Someone that would jump in their car and show you a house hasn't had much experience. This is what I call an inexperienced agent who is very hungry and may not do you any service at all.
A good Realtor will meet with you, talk to you about what you are looking for and lead you to a good Lender where you can get pre-qualified first before ever looking at a house. An experienced Realtor is your best source for finding a Lender. We know the good ones and the ones to avoid. They are not all cut from the same cloth. The current real estate market should be enough of a lesson about Lenders and how important a good loan is and what a bad loan can harm you. There are still Lenders out there that qualify home buyers only to have the buyer pay a deposit on a house, pay for a home inspection and for an appraisal to find out that there is no loan for them. What a waste of time and money! Wouldn't you rather do it right and be qualified by a reputable Lender so that your money isn't wasted?
Realtors are a valuable resource for you during and after the home buying experience. It's important to remember that every Lender MUST give you a ‘good faith estimate' that will show you all of the cost involved in buying a house. There is more than just the cost of the house and as a home buyer you need to know what those costs are.
So, give this Realtor a try. He asked you all the right questions and is looking out for your best interests.
If you have a real estate question that you would like an answer to, be sure to check out and read what other home buyers and home sellers have asked and feel free to ask your Real Estate question by email. Perhaps, your question will be part of the next article featured on Sacramento REAL Estate Voice.
If you like what you read here on Sacramento Real Estate Voice simply click and subscribe to get the latest articles sent to your email.
Other Home Buyer and Home Seller Questions:
Home Buyer Asks About Buying from New Home Builder
Sacramento Home Buyer Asks Real Estate Question
Home Seller Asks Real Estate Question
Burning Real Estate Questions, Answered
Ask Gena Answers Homeowner Question
<script type="text/javascript"></script> ShareThis
Every month Sacramento Real Estate Voice calculates the real estate market statistics for each city and community in the Sacramento County area for you to take a look at.
There is a drop down menu where you can look at the preceding month or year and compare the homes for sale and the homes sold for each neighborhood.
Just click on the photo above and it will take you to all of the Sacramento Real Estate market reports for each city and community in Sacramento. It will take you directly to the Sacramento Real Estate market stats or in the future simply click under the header on this blog where you see "Neighborhood/County Market Statistics."
For the month of September 2008 the following residential single family homes statistics are:
2,193 Homes for Sale in Sacramento for September 2008
$259,715 Average list price of home for sale in Sacramento in September 2008
1,921 homes Sold in Sacramento in the month of September 2008
$213,912 average sold price in September for Sold homes
Compare each month of residential homes sold in Sacramento from January 1, 2008 through September 2008
Sacramento Real Estate market stats from January 1, 2008 through September 30, 2008
7,135 homes for sale in Sacramento from January 1, 2008 through September 30, 2008
$290,665 average list price of home for sale in Sacramento
3, 332 homes received offers from home buyers that were accepted by the seller
13, 936 homes sold in Sacramento from January 1, 2008 through September 30, 2008
$246,196 is the average sold price of a house in Sacramento year to date
54 Days on the Market to sell a house for sale
1,684 Square Feet is the average square footage of a sold home
If you like what you read here on Sacramento Real Estate Voice simply click and subscribe to get the latest articles sent to your email.
Sacramento MLS where you can pick any community or city around Sacramento and see homes for sale.or simply click on the search icon and pick the area you are interested in finding a home or condo for sale in 
. This is a great place for home buyers to start their free MLS search for homes for sale.
 |
|
|
Sacramento Real Estate serving Home Buyers & Sellers in Elk Grove, CA, Folsom, Roseville,, Granite Bay ,Placer County, El Dorado Hills, West Sacramento, love 1st Time Home buyers, too. (916) 417-2699
As the Real Estate Broker and owner of Riede Real Estate, I work as a full time Realtor in the Sacramento area with Sellers, Home Buyers and those relocating to the Sacramento and surrounding areas. You can reach me by email, Gena@GenaSells.com or call (916) 417-2699
There are many areas within Sacramento County that I can help you with such as:
In Placer County, I love to show homes in
El Dorado Hills in El Dorado County is an area that quite a few of my past clients enjoy living. It is an area within the hills overlooking the Sacramento valley. Life doesn't get much better than El Dorado Hills as well as Cameron Park.
West Sacramento is located in Yolo County and is just across the Sacramento River from Downtown Sacramento so it's just a hop, skip and a jump from Downtown Sacramento and home of the River Cats.
My previous Home Buyers and Sellers have written testimonials that appear on my website, expressing their honest feedback after having worked with me (an example of one is listed below).
Both Home Buyers and Sellers have expressed their opinions and most of them have been repeat clients as well as providing the highest compliment a Realtor can receive, by referring me to their families and friends.
I would suggest that you take the opportunity to view these testimonials and see if what my past clients have said is specific to what you personally are looking for in a Realtor. If so, I would be more than happy to assist you in your home buying and selling.
As a Real Estate Broker, I am held to a higher standard and I take that very seriously. Due to my own moral character and ethics my clients never feel pressured or uninformed during the home buying and selling process.
One of the things I pride myself on is being totally responsible for each of my transactions. Home Buyers and Sellers both know that when they hire me, they get me; we become a team with the same goal!
I continue to educate myself through classes and reading as well as keeping up with the ever-changing computer and internet venues which provide more knowledge base for my clients and their transactions.
Each week there are several new articles that I write on my blog, Sacramento REAL Estate Voice to help those living and relocating to our great Sacramento, CA area. If you would like to view my blog for Sacramento and the surrounding areas simply click on SacramentoRealEstateVoice.com .
There you can view some of the neighborhoods that I have featured and video tours to let you become acquainted with the Sacramento area.
Each month I compile questions coming from Sacramento Home Buyers, Sellers and Homeowners where I answer their Real Estate questions while maintaining their anonymity. This is what I call "Got Question, Ask Gena." 
I welcome your comments. If you feel, that we would be a good match, I welcome your call or email and look forward to helping you with all of your Real Estate needs.
My area of expertise ranges from First-time Homebuyers to Luxury Home Buyers as well as those interested in purchasing retirement and/or vacation homes in the Sacramento, Placer, El Dorado and Yolo Counties.
The Sellers I work with either have investment property that they selling, family tract homes or luxury homes. Land and business are an area that I have added to my repertoire as well.
Each Home Buyer, Seller and Real Estate transaction is unique, some more complex than others but each get my full undivided attention and knowledge base.
I work with Home Buyers and Sellers in the Sacramento, Placer, El Dorado and Yolo Counties. 
Simply click on this map and you can use the interactive map to find out about different communities in and around the Sacramento area.
While viewing the map at the above link, you may click on the City/Community and obtain addition information as well as available homes for sale, condos for sale, land for sale, or buinsess opportunities.
I have provided Home Buyers, Sellers and those Relocating an opportunity to gather information about each of our diverse areas here in Northern California in and around the Sacramento area, since each County is unique to the area and has much to offer.
You never have to sign-in in order to view homes for sale. I have always felt that when you are ready, you will contact me. So, feel free to click 
and view all of the homes for sale throughout the Sacramento, Placer, El Dorado and Yolo counties.
To view Testimonials from both Home Buyers and Sellers, go to my website to view more. ********************************************************************
"We are extremely satisfied clients of Gena Riede, one of the very best Realtors ever! We met Gena at an Open House in Elk Grove, CA while on our honeymoon in August 2002 (coincidentally about 2.5 miles from where we recently purchased our new home!). We established a fruitful, long-distance (my wife and I were Chicago residents at that time) professional relationship with Gena, as well as a warm and lasting personal friendship. Despite numerous setbacks over a five-year period, (including four years of renting while waiting for the local housing market to regain sanity) Gena worked with us to find the right house, in the right location, for the right price, at the right time. Also through her business association with an honest, savvy and prudent real estate loan broker, we found the right mortgage that meets our financial situation perfectly.
************************************************************
Throughout our long trek towards our goal of owning a home again, Gena not only provided excellent service as our agent, she is/was a stalwart partner in that process. She reinforced our resolve when things were most difficult---health issues; job & career issues...whatever obstacles to home ownership that arose.
*****************************************************************
There is no greater blessing than for the Lord to accomplish His Divine Will through the diligence, faith and hard work of a dedicated professional like Gena Riede. Home ownership is more than just "The American Dream" : it is -in part-the glue that holds this diverse nation together. We need more Realtors, more people like Gena who put real
people--- common folks like us, first!
If we ever know of anyone who sincerely wants to buy or sell a home, only one name will be spoken: Gena Riede."
Sincerely (proud and happy new homeowners), David S. Sims , Sr. and Cheryl L. Sims
8634 Black Kite Drive
Elk Grove, CA 95624
September 13, 2007
*************************************************************
"Gena is a Realtor that sincerely cares about her clients. She stays on top of all transactions, is very dependable, and continually keeps her clients informed. Gena has high ethics, gives honest opinions, and gives her clients excellent advice on how to prepare their home for sale. She is always available to answer questions or address concerns. If we still lived in the California area and were interested in buying or selling a home, we would definitely hire Gena again. She is a top-notch Realtor!"
Helen & Oliver
************************************************
"Gena helped us buy our first house four years ago. She was extremely thorough in her search to help us find the perfect place to call home and worked diligently to provide us with comprehensive information on everything from mortgage to location information. We were so thrilled with how she handled all of the details from start to finish that when we were ready to move again, we called Gena to help us sell and buy our next home. She has also continued to be an excellent resource for us even after we are settled into our home, providing numbers of people who can provide services such as painting or keeping us up to date on the current real estate trends. We recommended several friends to Gena who have successfully also bought and sold homes through her. She is a very dedicated, supportive, enthusiastic, informative, and intelligent realtor and anyone utilizing her services is very fortunate."
Erin & Mike T.
************************************************************
" Thanks Gena for all your help the past few years! When we were ready to purchase our first home, you helped my wife and I find the perfect place. And when we needed to sell a few years later, again, you were there to help us through the process and get our home sold in a timely manner. We couldn't be much happier with the service you provided."
Thanks Again!
John & Christy D.
**********************************************************
"Gena represented my wife and I in the purchase of our home in El Dorado Hills. Gena is a very respectful and a responsive person to your Real Estate needs 24/7. Gena gets answers to your Real Estate and Financial questions immediately.
My wife and I relocated from San Jose and closed our Real Estate purchase in 30 days.
When we decide to move again, we will seek Gena's advice and expertise and will ask her to be our Real Estate realtor/broker."
Sincerely,
Mr. & Mrs. Cousineau
*******************************************
"Gena is the first and only real estate agent we have met that fully understands every aspect of the buy/sell process - - I know that may sound silly, but in a sea of agents Gena really stands out from the crowd. We never doubt her advice for a moment! Plus, her customer service attitude and work ethic go unmatched."
Angela & Tom
************************************************************
"In selling my home, I could not have asked for a better Realtor than Gena! I was impressed by her enthusiasm, thoroughness, and complete availability during the whole process. She was totally involved, every step of the way, to ensure that things went smoothly, and the sale was completed with very little effort on my part. I didn't realize that selling a home could be so easy!! I cannot recommend Gena highly enough!"
All the best!
Joseph Hoffman
************************************************
"We have known Gena for four years and she has helped us buy our first home, sell our first home and purchase our second home. Not only is Gena professional, very knowledgeable and a real advocate for her clients, but she has quickly become a part of our family because of her kindness and compassion. The most impressive thing about Gena is that her job doesn't end when you have signed the papers and have moved into your new home. Gena always makes herself available to her clients in order to answer questions or help in any way she can. Gena truly cares about her clients and doing what is in their best interest."
The Lucchesi Family
***************************************************
"I have used Gena for both buying and selling a home. Because Gena was so "on-the-ball" for me when I was buying my first home, I did not hesitate to call her when I was ready to sell. During the selling transaction, we ran into a few obstacles due to the buyer and buyer's realtor, and Gena was quick to do all in her power to move the deal along in the speediest and smoothest way for me. I recommend Gena to any one out there considering buying or selling a home!"
MS- a happy client
*****************************************
"Gena is the ultimate professional. She has assisted me with two different real estate transactions and both times went above and beyond the call of duty to ensure that my best interests were at the forefront and that my needs and desires were met. She spent countless hours working out details of contracts and helping facilitate parts of the processes that would have otherwise fallen through the cracks. If I hadn¿t moved out of state the last time, I would always rely on Gena for my real estate needs."
J. Thompson
******************************************
"In 2002/2003, my husband and I sold 2 homes with Gena's assistance. She was always there with her assistance and very candid with suggestions to improve the saleability of our homes. She kept in contact and kept us updated continuously. When we decided to purchase a home in the Foothills, we, of course, went back to Gena. When we plan to sell our current home, we definitely plan to go back to Gena !!"
Connie & Brian
http://www.yourmp3.net/Music free here
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved
