Jay Emerson, Broker, e-PRO

Forbes magazine agrees with my analysis that a lot of areas have stabilized. Some areas, on the other hand, are still experiencing a glut of bank-owned properties. My momentum indicators are showing a perfect buying opportunity. Transaction volume is increasing, median prices are inching upward, interest rates are still low, new permits are very low, and banks are pricing homes to move since auctions are either not successful or a Short Sale is their preferred strategy.

Read the rest of the story here: http://JayEmerson.com/Indicators.asp

• The Market: Almost 250 homes went pending in the last 48 hours (Sac County). Banks are pricing correctly because they are not in the business of owning homes -- just the promises to pay for homes. Buyers are making reasonable offers (since pricing is already reasonable) and are motivated and pre-qualified. My charts indicate opportunity. All of my clients, friends, and family benefit from my analysis of the market. Forward this email or my contact information to anyone who is looking to buy. It's a great time and the "fish are biting".
• The Media: It's so easy to disparage the media. They would NOT be invited to my birthday party. Does Debbie Downer ring a bell? The Sacramento Bee is starting to get neutral on the real estate market. They are experiencing a financial downturn and are realizing that they have to stop raining on everyone's attitudes.
• Congress: Well, they did something. And it helps some good people who are in their homes and does not go too far as to helping speculators who should not be helped. I'm very happy for those who timed the real estate market badly but timed the election cycle perfectly! If you haven't read the full text of the bill passed by Congress, ask me.
• My counsel to Buyers: Low-ball offers are getting rejected and even ignored. Mortgage rates are bobbing up and down like hungry bass in the morning. The upper limit on mortgages may not help Sacramento like they will the Bay area and L.A., but they might help folks in Granite Bay or other higher-end areas. Talk to your lender if you are looking to refinance or purchase a home priced at more than $417K. If you need a good lender, just ask me. Call for any of my FREE reports (http://JayEmerson.com/Publications.asp) on making this important buying decision. Naturally, if you need a GREAT Realtor, you know how to contact me.
• My counsel to Sellers: Preparation, marketing, and resetting your expectations are key elements of selling in this market. If you don't have to sell, please wait. If you are relocating, call me. If you want to move up to a bigger home, this is the BEST time to do that. Call for any of my FREE reports (http://JayEmerson.com/Publications.asp) on selling in this buyer's market.
• My counsel to Investors: I'm getting calls from renters who are looking for their first home. The folks who have to sell short or go through foreclosure have to rent. So the population of renters is not going to decrease very soon. And rental rates are increasing. Let me help you. Call for any of my FREE reports (http://JayEmerson.com/Publications.asp) on investing in real estate.
• Bottom line: Don't be kicking yourself in 6 months when this opportunity fades from golden to bronze. Millionaires are made from OWNING real estate, not selling it. Let me help you build the asset side of your balance sheet.

Please remember, if you want to get a new home in a new development, don't register without me. The builder will not honor our relationship if you walk into their "den" by yourself. And it won't cost YOU anything. The builder/seller pays for my buyer agency fee. This is also true for bank-owned properties. Call me today to get started with your search.

Jay Emerson, Realtor®, 5006 Sunrise Blvd., Ste 202, Fair Oaks, CA 95628. (916-517-9606) All rights reserved. All statements or expressions of opinion, or any other matter herein, directly or indirectly, are only offers for real estate consultation and representation of buyers and sellers of residential homes or investment properties in California. While I believe the sources of information to be reliable, I in no way represent or guarantee the accuracy of the statements made herein. I, Jay Emerson, Realtor®, do not provide investment counseling nor act as an investment advisor and am not a registered investment advisor. Unauthorized reproduction of this newsletter or its contents by Xerography, facsimile, or any other means is illegal and punishable by law.

• The Market: Inventory is being snatched up by investors and buyers who know the bottom is nigh. The indicators below have been hinting that the bottom is forming. Unlike peaks in the market, the trough takes more time to develop. The momentum of the changes indicates opportunity. I study the market every day and offer this edge to all of my clients.
• The Media: The speed of bad news still exceeds the speed of light. And good news... Well, it doesn't even find the light with our media. But I see a lot of activity with most [well-priced] listings getting multiple offers.
• Congress: Help who? Now they want to fatten themselves with pet projects ("pork") which is delaying their actions. Don't bank on congress doing anything with efficiency or effectiveness.
• My counsel to Buyers: With homes in the affordable range, rates so low and rents on the rise, this is a great time for 1st-time buyers and investors. I can help YOU find the home that meets your requirements. Two years ago, buyers had to settle for a home since the selection was small. Now there are some great properties just waiting for you. Let me help you weed through the noise and find the best home for you. Call for my FREE report on making this important buying decision.
• My counsel to Sellers: Your competition is pretty high but buyers are making offers. If there are ways you can stage your home and make it more attractive than your competition, then you should consider the updates. Marketing is key. Data suggests that buyers use Realtors and my marketing targets Realtors. If you must sell, let me help you with preparation, staging, and marketing. When you get multiple offers, the negotiating strategies I use will help you tremendously. And if you are selling AND buying, the opportunity to recover the loss on the next sale is great! Call for my FREE report on selling in this buyer's market.
• My counsel to Investors: If you wait too long, others with capital will take the best properties. Rents are on the rise which means your homework should include elasticity of that income. Let me help you. Call for my FREE report on investing in real estate.
• Bottom line: If not now, when? Are you in a position to buy now? Do you know someone who has talked about acting on their desires but needs to find the right Realtor? Look no further.

Jay Emerson, Realtor®, 5006 Sunrise Blvd., Ste 202, Fair Oaks, CA 95628. (916-517-9606) All rights reserved. All statements or expressions of opinion, or any other matter herein, directly or indirectly, are only offers for real estate consultation and representation of buyers and sellers of residential homes or investment properties in California. While I believe the sources of information to be reliable, I in no way represent or guarantee the accuracy of the statements made herein. I, Jay Emerson, Realtor®, do not provide investment counseling nor act as an investment advisor and am not a registered investment advisor. Unauthorized reproduction of this newsletter or its contents by Xerography, facsimile, or any other means is illegal and punishable by law. Copyright © 2007 Jay Emerson, Realtor®

• The Market: Inventory is declining because 1) sellers want to relax over the holidays, 2) the good properties are selling, 3) Short Sales are becoming bank-owned and the banks now have to take over, and 4) these are the slow months.
• The Media: It's still gloom and doom, according to the papers.
• Congress: Yes, they passed the mortgage "help" bill. In reality, it helps VERY few people and really means the tax payers eat the damage caused by speculative investors and fraudulent lenders. Thanks, Congress. Merry Christmas to you, too.
• My counsel to Buyers: We are much closer to the bottom than the top. If you are renting, I have a litmus test to evaluate your buying position. Call or email me to request this informative examination of your goals. If you want to move up to a larger home and can be realistic about pricing your current property, there are some good properties now and serious buyers are actively looking. Call or email me for the buyer's questionnaire that will help us both understand and narrow your requirements. If you are looking for investment properties that you will hold for 2-7 years or more, be very enthused and call me for a free report on buying bank-owned properties.
• My counsel to Sellers: If you want an honest opinion and analysis, call me. The bank-owned properties are selling which is impacting your comparables. The longer a bank-owned property is on the market, the lower your comparables are when it finally sells. Action begets results. Contemplating action begets ulcers and bed sores.
• My counsel to Investors: Do your homework. Drive the neighborhoods. Crunch the numbers. There are deals that will pencil. Call me for a private web site.
• Bottom line: The sub-prime issue is a fraction of 1% of the total mortgage market. And when someone says "but more is coming", keep your perspective because it will still only be a small portion of the $9.9 TRILLION mortgage market. If $80 BILLION is in default, banks will only be losing (maybe) 25%. That's $20 BILLION of the $9.9 TRILLION ( = .2%). But I don't want to be trite about it. There are some good people in bad situations. May God bless them.

Remember, new home builders WON'T deal with you UNLESS you have a Realtor representing you. Many have purchased a new home only to find that their "specials just ended yesterday". That does not have to be true but is highly probable unless I am with you to negotiate from day 1. If you register with a new development without me being with you, the builder does not have to honor our relationship -- and they won't. Landscaped backyards, upgraded kitchens, maybe even a pool are possible incentives but the builders will have the upper hand unless you know what to say and when. And it won't cost YOU anything. The builder/seller pays for my buyer agency fee. This is also true for bank-owned properties. Call me today to get started with your search.

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Jay Emerson, Realtor®, 5006 Sunrise Blvd., Ste 202, Fair Oaks, CA 95628. (916-517-9606) All rights reserved. All statements or expressions of opinion, or any other matter herein, directly or indirectly, are only offers for real estate consultation and representation of buyers and sellers of residential homes or investment properties in California. While I believe the sources of information to be reliable, I in no way represent or guarantee the accuracy of the statements made herein. I, Jay Emerson, Realtor®, do not provide investment counseling nor act as an investment advisor and am not a registered investment advisor. Unauthorized reproduction of this newsletter or its contents by Xerography, facsimile, or any other means is illegal and punishable by law.

Copyright © 2007 Jay Emerson, Realtor®

http://www.jayemerson.com/, Realtor, e-PRO