Sacramento is alive with activity over this Labor Day weekend. The California State Fair continues its run at Cal Expo. And beginning today is the annual 4 day celebration of Gold Rush Days in Old Sacramento.
For you Blues fans, I'd like to suggest you put Sunday, September 20th on your calendar. I have personal friends that are part of the Strictly For Kicks band. This band came in Second Place at the Sacramento Blues Festival. They create great entertainment you won't want to miss.
As many of you in the Greater Sacramento area already know, the town of Auburn suffered a recent wildfire tragedy, when over 60 homes and businesses were lost last Sunday afternoon. Strictly For Kicks will be participating in the effort to assist with the victims of the fire.
So treat yourself to something special, while helping out the victims of the Auburn 49er Fire. And mark September 20th on your calendar. The event will be held outdoors in Auburn. You can check out http://www.keepsmilinpromotions.com or http://www.strictlyforkicks.com to keep up on the details as they become available.
For a sampling of their music, you can visit the Strictly For Kicks SFK myspace webpage. My favorite is the tune written and sung by Clark Bishop, titled, "Love, Sex and Romance."
If you see Jason (Bass) or Clark (vocals), tell them Myrl sent you. We worked together at a software development company, for many great years.
West Sacramento had cause for celebration earlier today (September 2nd), with its completion of two key riverfront projects, including an extension of the Riverwalk project. This project included delightful walkways, public bathrooms, and wonderful grassy areas for the public to enjoy.
West Sac city officials also prioritized flood protection in their planning, and the project includes a 475' slurry wall along the levee, which satisfies 200 year flood protection standards.
As I walked along the extension between the Tower and "I" Street bridges, shortly after the dedication ceremony, I was taken by the view of the delightful pyramid shaped Ziggurat or Money Store Building, and the beautifully designed CalSTRS (California Teachers Retirement System buildings).
Looking across the river, I was treated to spectacular views of the Delta King riverboat, Old Sacramento, and the downtown skyline.
The Riverwalk project provides easy foot access to Old Sacramento, Raley Field (Sacramento River Cats baseball team), the Tower Bridge, and Drexel University.
Certainly, the Riverwalk project is a special asset for public enjoyment in the Greater Sacramento area.
CBS-Channel 13 KOVR News website has a great video with additional scenes.
Each year Old Sacramento turns back the clock, and more than 200 tons of dirt are dumped on the streets. This year will be no different, as Sacramento's old historic district becomes transformed into its former 1850s self, and celebrates Gold Rush Days on Labor Day weekend. It will begin this year on September 4th and run four days. Musicians will play gold rush era instruments. There will be Wild West gun-fights, and costumed re-enactors will roam the streets.
Always fun and family friendly, if you are in the Greater Sacramento Area, plan on visiting this lively four-day event and celebration. For more information about the Old Sacramento Gold Rush Days Celebration, you can visit: the Sacramento Gold Rush Days website
I certainly didn't have the desire to allow summer to pass without covering nearly every square inch of Amador Gold Rush country. But, there was yet another adventure which begged to be explored.
In addition to the 1850 style towns and communities I have chronicled in recent weeks, Amador County is also rich in cave, cavern and mine tour adventures.
California Caverns (pictured above) is among my favorite of spelunking experiences. Native Americans knew of its existence long before the arrival of westerners. Bret Harte, Mark Twain and John Muir were early visitors in the Gold Rush era. It was opened for public tours in 1850.
In addition to California Caverns, Amador boasts Black Chasm Cavern, Moaning Cavern, and the Sutter Gold Mine. All of these, plus Mercer Caverns in nearby Calaveras County, have wonderful cave or mine exploration capabilities available.
Moaning Cavern contains the largest vertical chamber in a public cavern that you can see in California. It is so large, the Statue of Liberty could be completely help within it! There are also California Zip Line experiences available at Moaning Caverns.
Black Chasm Cavern is another local spelunking treasure. In 1976 it was designated a National Natural Landmark by the National Park Service. Black Chasm enchants visitors with a variety of stalactites, stalagmites, flowstones and crystals. Outside the visitor center, kids will love the gemstone mining at the mining flumes.
Sutter Gold Mine located on historic Highway 49 just north of Sutter Creek, south of Amador City is a modern hard rock mine at the site of several historic mines. Nearby Lincoln Mine from which Leland Stanford made his fortune facilitated his ability to found Stanford University and to partner in financing the Central Pacific Railroad.
For ALL California Cave and Mine Tours available in Amador County, you can visit the Cave and Mine Adventures website: http://www.caverntours.com
For more information on Mercer Caverns in nearby Calaveras County, you can visit: http://www.mercercaverns.com
We literally fell into the little town of Volcano, after exploring the Indian Grinding Rock State Park in Amador County last week. The distance between the two is a mere few miles.
Volcano (Formerly Soldier's Gulch) is another of those little Gold Rush gems, which provides rich color to the Wild West era tapestry. It is considered by many to be one of the most picturesque of the Mother Lode towns.
Dating back in history to the late 1850s, the town was originally nicknamed "Crater City." Early miners noticed the lay of the land was a bowl-shaped valley, which caused them to believe it was formed by a volcano.
There is a story that in 1849 one miner took out 8 thousand dollars worth of gold in a few days - that was in 1849 dollars. Another got 28 pounds in a single pocket.
Volcano boasts that it is home to California's first amateur theatrical company. This theatre tradition continues to this day. The town has an outdoor amphitheatre, and the Volcano Theatre Company, which stages performances at various times during the year.
Once the largest settlement in Amador County, Volcano now has a population of a mere 101 souls. In its heyday, the town boasted 3 breweries, 17 hotels, 37 saloons and a great deal of gold.
For more detailed history on Volcano you can visit Volcano's AmadorGold webpage
Directions to Volcano from Sacramento: Take Highway 16 through Sloughhouse, and on until you reach Highway 49 toward Jackson (travels through Dry Town, Amador City, and Jackson). Take the Highway 88 turnoff toward Lake Tahoe. Turn left on Pine Grove-Volcano Road. The settlement is about 3 miles from Highway 88. Mileage is about 50 miles from Sacramento to Volcano.
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Realtor since 1981 - Whether your real estate needs are entry or executive level, I have the experience to give you the professionalism, you deserve. Sacramento, El Dorado and Placer Counties
I am a life long resident of the Greater Sacramento area, and have been a Realtor since 1981. Whether your real estate needs are entry level or executive level, I have the experience to give you the professionalism, you deserve. If you are currently thinking of buying or selling a home, please give me a call. I will be happy to assist you with any real estate needs you have. Great West GMAC Real Estate is also an excellent relocation resource. Should your move be local or global, I have the resources to give you the best assistance possible.
Califronia DRE License #00827565
Residential Property Specialist in the Counties of Sacramento, El Dorado and Placer
Short Sales - Advantages and Pitfalls
Looking back a few years, when the over-exuberance of the housing boom was being partially fed by the first ingredients of the sub-prime debacle, it was difficult to foresee in this present day, we would be ramping ourselves up to speed on "short-sales."
As many GreatWest GMAC Real Estate Professionals understand, "short-sales" can be anything but short in the process of negotiation with Banks, Mortgage Insurers, Sellers, Buyers, and ALL entities prevalent and present in a hoped for sale.
"If" a mortgage lender has agreed to allow "short-sale" on a property, and the home does become available to the market, it CAN BE an advantage for all. T. Sami Siddiqui, Broker-Owner of Great West GMAC, states, "Owners usually need to sell quickly, and though there will be no profit to the Seller, there is hope of salvaging some of their credit rating from such a transaction."
The Buyer is hoping to get a steal. The Bank is hoping to avoid being forced to foreclose, because the foreclosure process can be very expensive for the bank to endure. Some estimates have put the figure at approximately $40,000 per foreclosed property. However, the bank must get fair price.
However, among the entities with interest in the property, from one perspective or another, it often isn't as easy to get a short sale pushed through the lender (and others) as most folks would think - or hope!
To provide an example - A GreatWest GMAC Real Estate Professional recently spoke with a client, who came from another part of the state, and had failed in the process of trying to acquire a "short-sale" property there. The client had became understandably overwhelmed and frustrated from trying to get his offer accepted to facilitate the purchase, and had failed in the attempt. The process, culminating in ultimate failure, had taken 12 weeks.
The Seller was glad to have the Buyer's offer, because the Seller needed to move across country - but owed more on the home than it was now worth. However, the Seller continued to be current on mortgage payments.
The Buyer made a full price offer for the "short-sale" property.
The Seller immediately signed acceptance of the offer, without countering. The Seller's acceptance was subject to Bank approval; and that is when the clock began ticking for the next 12 weeks, with numerous roadblocks along the way.
The bank "sat" on the "seller accepted offer" for what seemed to be an unusually long time before agreeing to the sale itself.
During this time, the property continued to remain on the market, and other offers did come in. The Buyer, who by now had become emotionally attached to the house, more than once found himself in re-negotiation and experiencing increases of price for the property, while a small bidding war ensued.
Once the Bank accepted, the acceptance was still subject to an appraisal. The property was appraised $4,000 above the price of the accepted offer.
There can be this little dance that ensues with all the entities involved in the "short-sale" property.
If the Seller is current on payments, the Bank isn't too motivated to act quickly to take a hit on the value of the existing mortgage balance. This becomes more critical if there is Mortgage Insurance (PMI or MIP), which insures the Bank against default of the mortgage by the Seller.
However, if the Seller becomes delinquent in payments, the Bank may be more interested in negotiating actively in the short-sale process, because they likely hope to dodge the bullet of foreclosure.
However, if there is PMI or MIP on the property, this may lengthen negotiating the "short-sale" among the interested parties, and the PMI or MIP Company, will often become a participant in negotiations.
Once ALL parties are engaged in negotiation, each party is hoping to come to an equitable solution, where they aren't required to eat more of the decline in value of the property, than need be, in order to facilitate a successful transaction on the property.
There are advantages and distinct pitfalls in negotiating short-sales. GreatWest GMAC Real Estate Professionals are trained and experienced in this process. If you have further questions not addressed in this article, please allow us to assist you with your interest in this topic.
If you are a Homeowner, considering marketing your home through the "short-sale" process, please contact us. Also there are income tax consequences with "short sales" and Sellers are encouraged to consult their accountant about the ramifications of the "short-sale" process.
Written for GreatWest GMAC
by: Myrl Jeffcoat
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