Jason Elrod - Broker / Realtor

I was out on a run in my nieghborhood the other day and took along my camera. Here are a few shots from along the running path. There are many great recreation opportunites in the Granite Bay area and this is just one small example.

Take a look and enjoy!

Have a great one and take advantage of the weather and a little exercise whenever you get a chance!

-Jason

With all the current foreclosures in our market, I though it would be a good time to talk about the buying process when it comes to REO (Real Estate Owned by a lender) properties.

Some REO properties can be purchased for 40%-50% of market value, but the majority will sell within 5% of true market value at this time. REO properties are usually sold ‘AS-IS’ so keep in mind that a bargain price may be run back up once you factor in any repairs or reconditioning that needs to be done. Also, like any real estate investment (either as a personal residence or straight investment), location is key.

REO properties can be found in all areas and all neighborhoods. This ranges from a $25,000 bungalow to a $2.5 million estate. It is best to define your needs and then focus on the exact area(s) that you are interested in and that will meet or exceed those needs. When the correct property makes itself available, then you will be able to pounce on it with your offer.

Speaking of that offer, it has to be solid. Down payment, loan pre-approval in hand and no ‘funny business’ in the contract. You will also be on your own for the cost of inspections and any home warranty. On the upside, you can expect the lender to cover the costs of any title and escrow fees as well as transfer taxes and government mandated safety issues or retrofits. If you need or want money back for closing costs then you better make a higher offer. It is a simple math problem with the highest net offer the lender receives getting preference. Keep it simple and keep it clean and you will have a much better chance of getting that property.

Finally, your best resource is to find an agent who is familiar with BOTH the area and dealing with bank owned property. There are a lot of area ‘specialists’ out there, so make sure yours not only knows the location you are interested in, but has experience with the REO business. It is a specialty all its own.

(These same rules also apply with dealing with short sales, but that is a different beast all together.)

I hope this helps and if you have any questions or comments, feel free to contact me or my team and we would be happy to help out.

No obligation and all advise is ‘AS-IS’ with no warranty expressed or implied.

:)

Have a great one!
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Jason Elrod
Broker Associate
Keller Williams Realty
Jason@ElrodRealEstate.com
www.ElrodRealEstate.com
www.REOandRELO.com
office: 916-626-4266

Enjoy the great weather this weekend and check out some of these local events:

Roseville

Sept. 20th ~ Movies in the Park (Buljan Park) Come enjoy FREE Movies in the Park with your neighbors, family members and friends. The movie is shown on a 25 foot inflatable screen. Bring your blankets and lawn chairs and sit back and enjoy the movie. The movie will begin at sundown (between 8:00 - 8:30 pm). This week’s movie “Happy Feet”

Sept. 19th & 20th ~ Magic Circle Theatre (Tower Theater) The Last Night of Ballyho - A Comedy/Drama by the Pulitzer Prize winning author of Driving Miss Daisy, Alfred Urhy Ticket Prices are $22.00 for adults, $20.00 for seniors and students, and $12 for children 11 and under. Tickets are available at the door, but reservations are recommended. Please call the theatre box office at (916) 782-1777.Curtain Time 8:00 PM (421 Vernon St., Roseville)

Sept. 20th ~ Movies in the Park (Buljan Park) Come enjoy FREE Movies in the Park with your neighbors, family members and friends. The movie is shown on a 25 foot inflatable screen. Bring your blankets and lawn chairs and sit back and enjoy the movie. The movie will begin at sundown (between 8:00 - 8:30 pm). Movie – “Happy Feet”

Rocklin

September 20th ~ “Hot Chili & Cool Cars” Street Faire Rocklin's 15th annual "Hot Chili & Cool Cars" street faire, where automotive enthusiasts and chili lovers from all over the region come together to enjoy a day of entertainment, activities and fun for the entire family. Pacific Street between Rocklin Road and Midas Avenue. 10:00 AM - 4:00 PM Contact: Rocklin Chamber of Commerce @ 916.624.2548 Hot Chili & Cool Cars Information

Lincoln

Sept. 20th ~ Fish'n Kids Fishing Derby 9:00 AM Big M Fishery—Sponsored by the Lincoln Police Activities League. For more information call: 916.645.4040

Auburn

Sept. 20th ~ WalkingTour-OldTown Auburn (530)889-6500 Placer County Museum Docent Guild. Meets at the Courthouse.

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Make it a great weekend!

Jason Elrod

Broker / Realtor

Keller Williams Reatly

916-626-4266

http://www.ElrodRealEstate.com

Hey there everyone!

Summer is in full swing and just in case you are looking for something fun to do this weekend, here are a few events in and around the area. As always, if your have any events announce or questions about real estate, then just drop me a line at Jason@ElrodRealEstate.com.

Have a great one and enjoy!

-Jason

El Dorado Hills

July 25th~A Summer of Tribute Concert Series
7pm-9:30pm. El Dorado Hills Community Park
(1021 Harvard Way). Music by ‘Who Dunnit’ – ‘Who’
Tribute Band. Great times, great tunes and high
energy is the theme for this summer series. Tantalize
your senses with songs from the 80's. Bring the kids,
pack a picnic, potluck or stop for pizza and come on out!
Free. www.edhcsd.org

July 26th~Moonlight in Margaritaville
4pm-9:30pm. El Dorado Hills Executive Golf Course
(3775 El Dorado Hills Blvd). First concert ever at former
El Dorado Hills Executive Golf Course featuring Jimmy
Buffet cover band Garratt Wilkin & the Parrotheads.
Electric blues & rock band KDOG opens up. Enjoy the
music on the green with margaritas & cheeseburgers in
paradise! $30 pre-sale, $40 at gate. (530) 642-2431 or
www.marbelvalleycenter.com

July 25th-26th~Music at Town Center
El Dorado Hills Town Center (4364 Town Center Blvd)
Friday Night Music in the Lake Plaza
(near Café Campanile). 7:30pm-9:30pm.
Music by Linda Bracamonte. Free
Saturday Night Music in Theater Plaza.
7:30pm-9:30pm. Music by Peter Morgan Duo. Free
www.eldoradohillstowncenter.com

Hey there everyone!

Summer is in full swing and just in case you are looking for something fun to do this weekend, here are a few events in and around the area. As always, if your have any events announce or questions about real estate, then just drop me a line at Jason@ElrodRealEstate.com.

Have a great one and enjoy!

-Jason

Sacramento

July 25th-27th~California State Home & Garden Show
Fri. 12pm-7pm, Sat. 10am-7pm & Sun. 10pm-5pm. Sacramento
Convention Center. (1400 J St). Find everything from home
improvement to solar to eco-friendly landscaping and cooking
demonstrations under one roof. Register to win a $25,000 solar
system. Trading Spaces designer Frank Bielec is offering free
seminars; exhibitors offer products to complete a dream remodel
and local radio host Fred Hoffman will discuss gardening. $8. Free
for children 16 and under. Discount day is Friday, $4 for seniors.
www.calstatehomeshow.com

July 26th~24th Annual Ice Cream Safari
4pm-8pm. Sacramento Zoo (3930 West Land Park Dr). Enjoy allyou-
can eat Baskin Robbins Ice Cream and Coca-Cola beverages.
Musical entertainment, face-painting and zoo admission are included
in the ticket price. Hot dogs, veggie burgers, chips, adult ice-cream
drinks and raffle tickets are available for an additional charge.$17
adults, $13 for children 12 and under. (916) 808-5888 or
www.saczoo.com

July 26th~Midnight Mass Car Show
4pm-Midnight. Cal Expo (1600 Exposition Blvd). Outside on the west
side parking lot. Pre 65 Traditional Hot Rods, Customs, and
Motorcycles. Includes vendors, raffles, pinup contest & trophies.
Free admission, parking $8. $10 show car registration. For more
details visit:www.theorginalpoorboys.com

Elk Grove

July 24th-27th~Strauss Festival
Doors open at 6pm each night. Strauss Island in Elk Grove Park
(9950 Elk Grove Florin Rd). "Strauss Presents: Carnival in Venice"
with brilliantly costumed dancers gliding to the waltz, quadrille and
polka music of Johann Strauss and his family, in a choreographed
romance story line enhanced by a live 32-piece professional
orchestra...in its 21st year! Free. www.strassfestival.com