2 bedroom, 1 bath, 938sf fixer with attic loft in a great Carmichael location! Updated kitchen, attic loft area, huge backyard, gated driveway access. Offered at $129,000 subject to lender approval of short sale. Sorry, cash offers only please.
The California Association of Realtors is sponsoring SB 1178. This legislation seeks to extend "anti-deficiency protections" to homeowners who have refinanced "purchase money" loans and are now facing foreclosure. Today the state senate passed this legislation by a vote of 30-4.
Generally speaking, a loan taken on a residential property at the time of purchase is subject to provisions that afford a homeowner protection against personal liability for the difference between the value of a foreclosed property, and the original amount owed on the mortgage to the lender.
A loan that is refinanced generally does not afford a homeowner the same protection, and can be subject to "recourse" from their mortgage lender for the loss the lender suffers on that loan.
Still not law yet, but this was an important step...
I got a call today from a very nice man who had found an older posting on my blog from last year regarding filing an appeal application with the Sacramento County Assessor's office to request a reduction in his property tax assessment based on declining home values.
For clarity, the Sacramento County Assessor's office is NOT yet accepting appeal applications for fiscal year 2010-2011 until the revised valuations are released next month, in July. This timeline is slightly different than last year...don't forget, we are in the middle of an election cycle. Ken Stieger is retiring, and Kathleen Kelleher (current assistant Sacramento County Assessor) is seeking election to his seat.
Every year I get questions from many confused Sacramento tax payers regarding the property tax assessment appeal process. PLEASE BE AWARE - there are many scams regarding fee-based "services" that promise to lower your tax assessment...do not fall victim to one of these scams! When the new values are released in July, they will reflect the value of the house as of January 2010....several months ago. I promise I will post information regarding how to request an appeal of your property tax assessment when it becomes available!
This year I finally meet the qualifications to run for a 2-year position on the Sacramento Association of REALTORS® Board of Directors. I have been serving on various committees at SAR for the last 3 years, and have been honored by SAR for my contributions, and the Nominating Committee felt I might be a good fit to serve on the Board. So I am running...and so are eight others (a total of nine), for six open positions.
So in this contested race, I will be campaigning over the next couple months until all the votes are counted in early August.
While the intended audience for my campaign website is REALTOR® members of SAR (since they are the folks who actually vote), if you are curious to view it - visit http://www.vote4erin.com/. Feel free to 'Become a Fan' of the site if you want to see how my campaign progresses. I have some pretty neat-o campaign stuff that will posted there in the coming weeks.
I really hope that the SAR membership sees I have made many valuable contributions to the association (in addition to many my contributions to the California Association of REALTORS®), and elects me to serve. I am very excited at the opportunity to be able to serve the membership at a much higher level. So wish me luck!
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A Realtor with Lyon Real Estate, she works with buyers & sellers in Arden, Carmichael, Land Park, East Sac, & the Greater Sac areas. High level of expertise in closing greater Sacramento Short Sales.
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