The Sacramento Rental Housing Association needs your help!
A massive new government tax increase is heading your way unless the Sacramento City Council rejects a city staff proposal to significantly boost the city's utility rates. The City of Sacramento Department of Utilities (Department) is proposing a whopping two-year utility rate increase totaling 23%.
The staff proposal is scheduled to be heard before the full city council on Tuesday, June 9, 2009 starting at 6:00p.m. at the Sacramento City Hall located at 915 "I" Street in downtown Sacramento.
RHA is asking rental owners and residents join RHA's "Ax the Tax" Campaign and oppose the increase by attending the hearing and sending letters protesting the proposed increase. To win on this issue we need as many rental owners, property managers and residents to contact the city council and attend the hearing.
Your letters and phone calls to city council members are needed today. Your attendance at the June 9 city council hearing is critical. Tell your residents that they should help defeat this proposal to avoid a possible rent increase.
Click here it ready their special alert >>
This blog by:
Team Newington
Sacramento Mortgage Planners
First Priority Financial
(916) 687-6868
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I wanted to share the email I just got from the California Apartment Association!
Dear CAA Member:
The purpose of this communication is to inform you that on May 14, 2009 the California Apartment Association (CAA) Board of Directors voted near unanimously (24-2) to withdraw from its affiliation from the National Apartment Association (NAA).
CAA'sdisaffiliation with NAAin no way impacts your membership with CAA, your Local Association or access to member benefits provided through CAA and your Local Association.
The CAABoard reached its decision after a great deal of effort to preserve the affiliation. Our action to disaffiliate was based upon principal and a fundamental belief that the affiliation with NAA did not and could not fulfill the "value propositions" of vibrant education and advocacy programs promised to the CAA Directors, Local Associations and the membership over three years ago. Additionally, the Board was concerned that certain products and services developed by NAA were not specific to or tailored for California's strict regulatory and legal environment and were therefore impractical for CAA members.
The CAA Board remains committed to ensuring that the members of CAA are represented at the federal level and is evaluating various options to achieve this objective for both the short and long terms.
It is CAA's General Counsel's opinion that NAAis legally required to provide services to members through the members' membership term with NAA. We will do what is necessary to resolve what appears to be a different opinion communicated by NAA.
As a result of the disaffiliation, CAA and its Local Associations will no longer include "NAA Membership Dues" on your annual dues billing statement.If you have paid NAA dues in the last 60 days, CAA or your Local Association will be contacting you in the next 30 days to obtain your instructions relative to the disposition of the NAA dues collected and not yet forwarded to NAA.
We want to thank you for your membership and continued support of CAA and your Local Association.
Sincerely,
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Thomas Bannon, CEO |
My 2 cents:
I am on the Member Services Committee at our local association (Rental Housing Association). In my opinion I see how Rental Housing Association members will be affected... other than the savings in their pocket!
$$$$ JOIN US ON Saturday, June 6th $$$$
SACRAMENTO INVESTOR BOOT CAMP AND FORECLOSURE TOUR
Get the tools your need to get the best deal in today's foreclosure real estate market. We will take you in the streets and show you all of the opportunities available!
Register NOW - Space is limited for the "in the streets" tour >>
Many Elk Grove residents may assume because they have owned a home at some point in their life, they can't qualify for First Time Home Buyers tax credit.
The American Recovery and Reinvestment Act of 2009 authorizes a tax credit of up to $8,000 for qualified First Time Home Buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009.
I wanted to post you this definition of a First Time Home Buyer according to the IRS...
The law defines "first-time home buyer" as a buyer who has not owned a principal residence during the three-year period prior to the purchase. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse.
For example, if you have not owned a home in the past three years but your spouse has owned a principal residence, neither you nor your spouse qualifies for the first-time home buyer tax credit. However, unmarried joint purchasers may allocate the credit amount to any buyer who qualifies as a first-time buyer, such as may occur if a parent jointly purchases a home with a son or daughter. Ownership of a vacation home or rental property not used as a principal residence does not disqualify a buyer as a first-time home buyer.
Hopes this helps to clarify this matter for you!
We are honored to be asked by the Rental Housing Association to facilitate a new meeting that is FREE and open 
to the public!
RHA Real Estate Investors Forum
A New monthly event designed for folks who are currently looking to purchase local rental property!
This new monthly event will cover topics a current Sacramento Investment Buyer needs to know to get them up-to-speed with today's foreclosure market.
Join us for our first meeting on Wednesday, June 17th at 5:30pm!
Now is a great time to invest in rental properties, and this new RHA event will help. Best of all, it's FREE!
Whether you are a new investor or a veteran, you will benefit from the latest info on the current market and network with other local investors at this monthly meeting.
***June's Featured Topic ***
RUNNING THE NUMBERS ON YOUR NEXT INVESTMENT PROPERTY PURCHASE
Lori Mode of Keller Williams Realty is an REO specialist who will provide advice on how to make a profitable real estate investment. She will explain how to analyze the deal, determine rehab costs, research rental rates, and calculate operating costs.
We will also give you a Sacramento real estate and lending market update . Find out current sales prices, inventory levels, types of offers that are working, current investment financing options, factors affecting the market, and share your deals with other investors at this monthly event.
Call RHA to register at 916-920-1120!
Join us for our first meeting! We would love to see you there!
This blog by:
Team Newington
Sacramento Mortgage Planners
First Priority Financial
(916) 687-6868
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I heard this news today from Susan Boulding via Twitter.com ... so first off I want to thank her for the great information!
Today there were expanded benefits announced for the Making Homes Affordable Program!
Here is an excert from the posted announcement:
"Today we are providing a program update, including additional details on Foreclosure Alternatives and Home Price Decline Protection Incentives. Foreclosure Alternatives will help to prevent costly foreclosures by providing incentives for servicers and borrowers to pursue short sales and deeds-in-lieu of foreclosure in cases where a borrower is eligible for a MHA modification but unable to complete the modification process. By increasing MHA modifications and the use of alternatives to foreclosure, we will reduce the negative impact of foreclosure, minimizing damaging costs for financial institutions, borrowers and communities."
FINALLY! Banks may get the message!
In the past, banks were leery to approve short sales and many agents in the Sacramento area gave up trying to process them for their clients because the success rate was horrible!
In the last several months bank's have seemed to get with the program and are approving short sale offers more quickly and more often.. which is a good thing for our Sacramento real estate market!
Now Obama's team has added more incentives not only for the banks but for the home owners involved.
Step 1 of the program requires the bank and the borrower to "sit down" and try to resolve the matter by doing a loan modification. This makes perfect sense to me!
Step 2 gives the bank and the borrower an incentive to move forward with a short sale if the issue can not be resolved by a loan modification or if a previous loan modification was unsuccessful.
This seems to me to be a common sense approach to the matter and I wish that it was available to all of the Sacramento residents who have already had their foreclosure processed!
I for one am going to hope this helps encourage bank's... but keep in mind it not mandated so the bank's need to choose if they want to participate with the program!
Do you live in the Sacramento area and need a referral to an agent who specializes in short sales? Give us a call and we will give you a referral to someone who can help!
Here is a link to the annoucement >>
**** PLEASE NOTE: This program is NOT exclusive to Sacramento and Elk Grove residents who need to do a short sale! *****
This blog by:
Team Newington
Sacramento Mortgage Planners
First Priority Financial
(916) 687-6868
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