Elk Grove new homes!!! Monterey Village new homes are available... 
Move in within 30 days! Don't miss your first time home buyer tax incentive! Plus 3% buyer incentive for closing costs! Homes from $185,000 - $305,000...2 bedroom, 3 bedroom, and 4 bedroom models currently available! Gated community located near new shopping & restaurants, parks, Toby Johnson Middle School and Franklin High School, plus close to Interstate 5 for easy commute to Downtown Sacramento.
Sales office will be open on Ocean Lane, Thursdays through Sundays, 11:00 - 4:00. For more information, contact Lori Mode or Bruce Durham, Keller Williams Realty. Call us at (916) 230-0371 or check out available homes at www.AllElkGroveHomes.com.
We all know that the market of the moment is Distressed Properties, but with the inventory decreasing in the Elk Grove area over the past several months, REO listings come on the market and quickly are pending with multiple offers. Well, we have been seeing the same thing happening with our Short Sale listings in Elk Grove. I have been listing and selling more Elk Grove short sale listings than ever before, so I thought I would check the statistics on these sales. 
First, what is a distressed property -
Here are the numbers in the Elk Grove area for Distressed Properties on the market today -
Distressed Properties are making up approxiately 86% of the market in the Elk Grove area...leaving only 14% being actual equity sales. The number of active short sale listings has been dropping each month while the number of active short sale contingent listings has increased very rapidly over this same time. This means that we are now seeing multiple offers on short sales too!
I had one short sale listing recently go on the market on a Friday at $125,000...by Monday morning we had 22 offers and the one accepted by the seller was $153,000. We are currently negotiating this offer with the bank. The best part about all this is that the banks seem to be finally getting with it on short sales; we are negotiating our short sales in a much shorter time frame and the banks seem to be getting much more cooperative!
For those agents who still don't want to work short sales, please send them to us. We know that there is a need for compassionate hard working agents to work with these distressed sellers. We want to help them!
For more information on Short Sales
If you are a seller and wish to contact us for a FREE consultation regarding a possible short sale on your home, please call us at (916) 230-0371 or send email to Lori@ModeandDurhaM.com.
Search all Elk Grove homes here!
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Lori Mode and Bruce Durham, Keller Williams Realty in Elk Grove, CA
As summer starts to wind down, children are back in school and we are all ready for the fall weather, what is our current Market in Elk Grove, CA doing???? With incredible interest rates, affordability at a 40 year low and tax credits still available, buyers have been busy - both first time home buyers and investors!
Here's the latest Statistical Summary for the Elk Grove, CA Real Estate market, based on data pulled on August 31st from California Metrolist
Active Listings:
There are currently 789 single family homes for sale in the Elk Grove area - this includes 95624, 95757 and 95758 zip code areas) . This active listing count is down by approximately 33% from 1 year ago.
Price Range - $89,900 to $4,999,000
2 bedroom, 1 bathroo.m, 828 square feet - 6 bedroom, 7 bathroom, 10,350 square feet
Average - 4 bedroom, 3 bathroom, 2217 square feet with an average price of $268,079.
Of these 789 single family homes for sale, only 80 of them are REO's or Bank Owned Homes . This number has continued to remain fairly steady for the past 30 days, 177 are Short Sale listings and 429 are Short Sale Contingent - meaning they have offers and are negotiating with the bank(s).
Pending Sales:
There are currently 482 pending sales in the Elk Grove area!
Price Range - $49,000 - $1,295,000
2 bedroom, 1 bathroom, 800 square fee - 7 bedroom, 7 bathroom, 5,698 square feet
Average - 4 bedroom, 3 bathroom, 2,170 square feet
Average asking price - $250,440 and Median asking price - $234400 with the average days on the market of these pending sales being 49 days.
Of these 482 pending sales in the Elk Grove area, 197 of them are REO's or Bank Owned Homes. The bank owned homes have been receiving multiple offers for the past several weeks and generally are selling for above list price. We have one REO which we put on the market last Friday afternoon and by Sunday we had received 6 offers, the highest being $35,000 over list price! Buyers for information on how to get your offers accepted in this current market, make sure to read Buyers - Help Me Help You get your offer accepted!
Sold Listings - August 1, 2009 through August 31, 2009 
There were 251 single family homes sold and closed from 8/1/09 through 8/31/09 n the Elk Grove zip code areas. SOLDS are increasing monthly!
Price Range - $99,000 - $580,000
2 bedroom, 1 bathroom, 1056 square feet - 6 bedroom, 6 bathroom, 4418 square feet
Average - 4 bedroom, 3 bathrooms, 2,121 square feet
Average Sales Price - $255,537 - INCREASED SLIGHTLY FROM LAST MONTH!
Median Sales Price - $248,000 - Median Sales Price is up slightly from last month
Average Days on Market - 17 days
Average List Price to Selling Price Ratio - Home sellers got an average of 100.05% of asking price for their Elk Grove area single family home.
Of the 251 single family homes that closed escrow in August 2009, 127 of them were REO's or Bank Owned homes.
For more information on market statistics or prices in the Elk Grove area, contact The Mode & DurhaM Team at (916) 405-5765 or Lori@ModeandDurhaM.com.
To check the value of your home, go to www.AllElkGroveHomes.com.
If you are a first time home buyer, the time to buy is NOW....the first time home buyer tax credit runs out November 30, 2009 and you have to have closed escrow by that date! Don't miss out, call us today at (916) 405-5765 or email us at Lori@ModeandDurhaM.com.
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Lori Mode and Bruce Durham
A couple of months ago, I wrote a blog Sacramento reo statistics-What does this mean and today I just wanted to give you a quick update on where were are.
Has anything changed? Are more REO lisitngs coming on the market? Is the "Shadow Inventory" still out there? Well as of today, Realty Trac is reporting 5220 bank owned homes in Sacramento, CA. According to Metrolist, we currently have 1240 REO or bank owned homes either active or pending on the market in Sacramento. It appears that this leaves a difference of 3,989 bank owned homes still to come on the market. In addition, Realty Trac reports today a total of 5151 Preforeclosure in this same area.
Just in the Elk Grove market area, Realty Trac today is reporting 1268 bank owned homes, while Metrolist is showing 304 bank owned homes either active or pending in the 95624, 95757 and 95758 zip code areas or Elk Grove. This leaves 964 more homes to come on the market and that does not include all of the preforeclosures out there.
So what does this mean? This means that there is still going to be opportunity out there for first time homebuyers, move up buyers and investors. Although our inventory is currently low, there will be more inventory soon. We are seeing an increase in BPO (Broker Price Opinion) orders and an increase in Bank Assignments to listing agents. So hang in there...make sure you are working with an agent that really understands the current market and can keep you up to date on the market.
To get more information on the current Sacramento market, make sure to read Sacramento Area Market Update.
For more information, contact The Mode & DurhaM Team of Keller Williams Realty, (916) 405-5766 or go to www.AllElkGroveHomes.com.
If you are an investor, make sure to check out our upcoming Sacramento Investor Boot Camp and Foreclosure Tour, coming on Saturday, August 15th. Go to www.SacramentoInvestorBootCamp.com.
To check the value of your Elk Grove home, go to www.AllElkGroveHomes.com.
If you are a first time homebuyer, ask your agent about the CAR Mortgage Protection program for first time homebuyers!
Search all Sacramento homes here!
The Mode & DurhaM Team in Elk Grove, CA
I normally do monthly market updates on the Elk Grove real estate market, but thought it appropriate this month to give you an update on the Sacramento area as a whole and then broken down into regions, starting with Elk Grove of course.
Currently, we have 799 active single family home listings on the market in the Elk Grove area (zip codes - 95624,95757 & 95758), of which 86 are Bank Owned or REO listings, 190 are Short Sale listings, 413 are Short Sale Contingent, leaving 110 "regular" listings. August 2008, we had 1191 active listings on the market in the Elk Grove area, so are listing inventory is down over 32% from this time last year! We currently have 512 pending sales in Elk Grove and 259 closed sales last month! And the median sales price in Elk Grove last month was $230,000, the same as it was in June 2009, but down from $270,000 in July 2008.
For more information on the Elk Grove real estate market, make sure to check out Current Elk Grove Market...where are we at today?
Now on to the greater Sacramento area - these statistics are from today, August 10th
Carmichael
Citrus Heights (zip codes - 95610 & 95621)
Fair Oaks
Folsom
Galt
Rancho Cordova (95670 & 95742)
South Sacramento (zip codes-95822, 95823, 95824, 95828 and 95829) -
Sacramento - Downtown, Midtown, East Sac, Land Park & Curtis Park (zip codes - 95811, 95814, 95816, 95817, 95818 and 95819)
So what does all this mean to home buyers & investors? Is there more opportunity to come? Do we have a shadow inventory out there. For answers to these questions, check out Rental Housing Association Real Estate Investor Forum presentation.
For more information, contact The Mode & DurhaM Team of Keller Williams Realty, (916) 405-5766 or go to www.AllElkGroveHomes.com.
If you are an investor, make sure to check out our upcoming Sacramento Investor Boot Camp and Foreclosure Tour, coming on Saturday, August 15th. Go to www.SacramentoInvestorBootCamp.com.
To check the value of your Elk Grove home, go to www.AllElkGroveHomes.com.
If you are a first time homebuyer, ask your agent about the CAR Mortgage Protection program for first time homebuyers!
Search all Sacramento homes here!
The Mode & DurhaM Team in Elk Grove, CA
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The team of Lori Mode & Bruce Durham, Is A Full Service Real Estate Team Serving Buyers & Sellers in Sacramento County. Specialties Include Resale, REOs, 1st Time buyers & Investor Buyers and Sellers.
Lori Mode and Bruce Durham of Keller Williams offer unsurpassed service to buyers and sellers of real estate in the greater Sacramento area. Lori and Bruce have a combined 45 years of experience in the real estate industry and their team is both experienced and energetic in helping buyers and sellers with new and resale residential single family and investment properties.
Meet Our Team -
Lori is a native of Sacramento, CA and has lived and worked in the Elk Grove area for over 30 years. Prior to real estate she worked as Branch Manager/Escrow Officer for area title companies for 20 years. She is a life time member of the Sacramento Association of Realtors Master's Club, serves on her Market Center's Agent Leadership Council and is Chairperson of the MC's Technology Committee. Lori is an active community member including serving as a Board Member on both the Elk Grove Piranha's Swim Team and the Elk Grove United Soccer Club and participaing in several other community organizations.
Bruce started in the real estate industry as General Manager for a property management company. This position steered him toward obtaining his real estate license and when the company was sold, on the advise of a friend, moved to Sacramento. Locally, he has worked for Great Western Real Estate in the early 1980's, then Coldwell Banker for over 12 years and currently Bruce is with Keller Williams Realty. Bruce is also a member of Sacramento Association of Realtor's Master's Club and has previously served on Keller Williams Realty's Agent Leadership Council.
Lori and Bruce have been business partners for 13 years in the Sacramento real estate industry.
Susan Easter, Accredited Buyer's Representative
Susan has been a resident of Elk Grove for over 18 years. Prior to choosing a career in real estate at Keller Williams, Susan was in retain management and merchandising for both Macy's and Gap, Inc. Susan obtained her designation as Accredited Buyer's Representative in December 2005 and has been with Keller Williams since the opening of their Elk Grove Market Center.
To search the entire MLS for not only Sacramento County, but also surrounding counties of El Dorado, Placer and Yolo Counties. Please browse through our website for area information, school information, area market statistics, and more! There you can also receive a free online valuation of your home or sign up for free emailed MLS alerts and very timely market condition reports. Make sure to visit often for updated information.
As an Elk Grove real estate team, we focus on residential resale, including homes for first time home buyers, move up buyers and investors. We work with both buyers and sellers on single family homes, condominiums and investment properties including duplexes, triplexes and fourplexes.
Buyers and Sellers need lots of information, whether buying or selling a personal home or investing in real estate. A big part of our job as a real estate professional is to make sure they get what they need so intelligent informed decisions can be made. We provide a variety of information through our website at www.AllElkGroveHomes.com, through our Market Analysis, our Free Reports for buyers and sellers, our market updates, and area statistics. We have weathered the ups and downs of the real estate market in the Sacramento area for over 20 years and know how to consult with our clients to get them what they want in the time they want. 
I was referred to Lori and was instantly impressed by her knowledge and experience in the real estate field. Lori was the best Realtor EVER! She was very knowledgable of the neighborhoods I was interested in. She was helpful, friendly, etc. etc. THANK YOU!
Kirsten Bosch, 4248 U Street, Sacramento, CA 95817
Lori and Bruce made the selling of our home on Lakepoint Drive in Elk Grove a painless transition. We were not looking forward to a long and tedious selling process and we were amazed at how quickly and efficiently the home SOLD. Their expertise and marketing techniques were very effective and we are very satisfied that we selected them to represent us! Thanks again for a job well done!
Jim & Cathy Eckman, 6711 Arboga Way, Sacramento, CA 95831
Our Realtors, Lori Mode & Bruce Durham, were extremely helpful in helping us buy our first home. We will be working through them again when buying our second home!
Ryan & Christine Goodwin, 9387 Soaring Oaks Way, Elk Grove, CA 95758
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