When my son, Randy, was born and began talking at about 11 months of age, it wasn't mere single words that first came out of his mouth, it was whole sentences; or actually it was whole questions. He would point at certain things and say, "What is that - huh?" Or he'd ask, "Where's the garbage?"
On Thursday and Friday I took a little drive up to Fort Bragg and the Northern California Coast. When I came across this contraption I had my own, "What is it - huh?" moment.
How many of you know what it is, or what it does by looking at the picture? It is located it in the Jackson Demonstration Grove - along Highway 20, seven miles southeast of Fort Bragg. The little area is part of the California State Park System.
You can Click Here for a definition of a Steam Donkey. This area has some hiking trails, and is an interesting stopping off place in the Willets/Mendocino/Fort Bragg vicinity.
I woke early this morning, while craving a beautiful sunrise, and coffee. Once in the car however, the steering wheel seemed to transport me via auto pilot, east on Highway 50, a few miles, to El Dorado Hills. The sunrise giving birth to the day, just beyond the Sierra Foothills, wanted an audience.
Town Center in El Dorado Hills (East of Sacramento), has emerged into a warm and delightful center of boutiques, dining places, lodging, shopping, cinemas, a Mercedes dealership, and a Starbucks. Although other Starbucks are closer to my home, there is something very special about experiencing a Mocha Latte at this very special location. It was so early this morning, that few souls were available to disturb the tranquility.
For a complete list of shops and vendors you can explore their website below. I highly recommend Cafe' Campanile and Chantara Thai Cuisine for dining. Both are magnificent.
http://www.eldoradohillstowncenter.com
For the last several years, the Pacific RIM Street Fest has been hosted in Old Sacramento and Westfield Downtown Plaza.
The Celebration is a wonderful matrix of Asian Pacific Rim Heritage, which includes:
For a fun packed adventure in a day steeped with rich cultural diversity and treasures from Sacramento's Asian Pacific Islander community, plan on attending.
Sunday, May 17, 2009
10:00 AM - 5:00 PM
Old Sacramento and
Westfield Downtown Plaza
Free Admission
Visit the Pacific RIM Street Fest website for more information on this colorful event.
This picture was taken with my first digital Kodak 1 megapixel camera. I take pictures for the purpose of remembering fond times. I do not impose copyright restrictions on this photo, so you may feel free to use, or distribute as you wish. However, should you need a Real Estate Professional in the Greater Sacramento area, I hope that you will contact me by email or by visiting my website www.myrljeffcoat.com
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Many Greater Sacramento real estate professionals have been noticing the Sacramento housing market has been stabilizing. About 80% of the foreclosure market is completed, and sales have doubled in number since a year ago. It appears that the housing market declines of the past months have began to slow, rather than plunging from an airplane without a parachute. |
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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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