Lori Prizmich

Wrinkles might be cute on dogs - but not so much on faces and certainly not in real estate transactions!!

It seems like it is taking longer to get the fully executed contract, longer to get the preliminary title report, longer to get the appraisal, longer to get responses to requests for repairs, longer for loan docs, longer for funding...at this rate i'll need a face lift between the time we go into contract and the close of escrow!!

Remember the days when you could actually close a transaction in 30 days or less? Certainly FHA transactions start at 45 days and if you throw in the fact that the transaction is an REO, well then you definitely have a sixty day escrow. Even a non-REO with conventional financing seems to be taking 45 days. Yes...sixty is the new thirty and if we can just accept that fact, it might eliminate some stress-induced furrows and gray hair. Now...where did I put that invitation to the Botox party?

Lori Prizmich, CRS

Keller Williams Realty

530 845 3325 (direct)

My best friend and I used to compare notes when the API scores came out each year. I live in Davis and she lives in Rocklin. Although the schools up that direction have always been good, they don't touch Davis. The Davis Enterprise included a nice article, Davis test scores top in region in yesterday's paper (5/21/08). The article reported that all Davis schools had API scores above 800 on the API which puts them in the category of "high performing schools." Three of the elementary schools (Willett, Pioneer, and Patwin) had scores above 900.

As the chart below shows, there are other area high schools which are also performing quite well, but Davis schools have an advantage. They are in Davis. DAVIS ROCKS!! For more information on local school performance and other useful information, try www.greatschools.com.

<form enctype="application/x-www-form-urlencoded" action="/cgi-bin/msl_confirm/ca/" method="get" accept-charset="UNKNOWN"> </form> School name Distance School type GreatSchools Ratings Parent Reviews API Avg. class size Muir Charter School 8.7 charter 2 957 --- West Campus 4.6 public 9 880 30 Davis Senior High School 14.3 public 9 854 27 Folsom High School 18.6 public 10 844 34 Oak Ridge High School 23.6 public 9 841 32 Leonardo Davinci High School 14.3 public 8 838 28 Rocklin High School 20.3 public 9 832 30 Granite Bay High School 18.1 public 8 826 32 Natomas Charter #19 5.2 charter 7 823 29 Whitney High School 20.6 public 8 810 30

Lori Prizmich, Realtor

The Lori Prizmich Team

www.LoriPrizmichHomes.com

530 845 3325 (direct)

Wondering what's going on with the Davis, CA real estate market? Every person I know asks how things are in the Davis Real Estate Market. Let me just share some numbers taken directly from Metrolist over the past few days.

I like to look at absorption rate (among other variables) of local markets. Absorption rate is the number of months it will take to absorb current inventory based on sales history. This can be done looking at previous sales for the last month, 6 months, 1 year, etc. Looking at each interval can give a person an idea of whether inventory is shrinking or growing.

In order to determine the absorption rate for a particular market such as "condos in Davis"...you

1) determine the number of condos that sold over the past year

2) divide by 12 to find the average number of condos that sell each month

3) divide the current inventory by that number

4) the resulting number is the absorption rate (or number of months it will take to absorb current inventory).

Some industry experts say less than five months of inventory is considered a buyers' market.

As you can see from the far right column in the table below, some categories have fairly limited inventory (namely >$500k single family homes). Some categories have a sizeable inventory (ie: >$800k). This could probably be attributed to the fact that homes in this price range are generally considered "move up" homes. Many homeowners are uncertain about whether or not now is a good time to buy and/or sell. Well, if you have an entry level home in Davis to sell, and are looking to purchase a move up home...it appears to be a pretty good market for you!

If you would like to know whether it is a good time to buy or sell in Davis, CA let me calculate statistics based on your specific scenario and give you my opinion. I welcome all real estate questions!

I look forward to hearing from you...


Lori Prizmich, Realtor
Keller Williams Realty
The Lori Prizmich Team
530 845 3325 (cell)
530 231 2988 (fax)
http://www.loriprizmichhomes.com/

Since the last Pioneer PTA meeting a few weeks ago, there has been much discussion on the school budget and what can, should, and will be done. Like any other budget we can either cut expenses, raise funds, or both. Budget cuts will have a lasting impact on my children (in first and sixth grades), our children, and your children.

What does this have to do with real estate in Davis? You don't have to think long about that one. A great number of Davis home owners purchase(d) here for the schools. If the school district deteriorates, it will impact home values. Of course, property values are insignificant compared to our children's education. I'm just saying, there is a relation between the quality of schools and the demand for property in Davis.

Many have profited over the years due to the quality of Davis schools. It isn't a long term solution, but in the interrim, the time is now for real estate professionals to give back to the school district. Donations could be in proportion (yes...you know who i'm talking about) to gain over these past years of tremendous growth. Now is the time to step up...

To help raise funds and/or donate, go to http://%20http//www.davisschoolsfoundation.org/ and make your contribution. Lori :o)

Lori Prizmich, Realtor
Keller Williams
lori.prizmich@pcgagents.com

530 845 3325 (cell)
530 231 2988 (fax)
http://www.pacificcoastrealty.com/
http://www.loriprizmich.yourkwagent.com/
www.activerain.com/blogs/loriprizmich