Roseville Califonia Realtor's Blog-We Got Game!

This issue Nov 6th 2008 of the Mortgage Update, It contains news and updates on the "Hope for Homeowners" program, and foreclosure assistance programs for borrowers with mortgages issued through IndyMac , JPMorgan Chase & Co., and Countrywide.

 MAKING SENSE OF THE STORY FOR CONSUMERS

 · Early projections indicate that only 20,000 troubled homeowners will apply for the "Hope for Homeowners" program, a considerable reduction from the previously estimated 400,000 homeowners who were expected to apply. The $300 billion program was launched Oct. 1 and is designed to help troubled homeowners rewrite a "risky" mortgage loan into a 30-year, fixed-rate loan with a lower interest rate. During the first two weeks of the program, the Federal Housing Administration, which oversees Hope for Homeowners, reported receiving only 42 applications. Some housing experts believe the low application rate is due to the program being voluntary for lenders and provisions requiring homeowners to agree to an equity share with the government.

 To read the full story, please click here:

http://www.latimes.com/business/la-fi-hope4-2008nov04,0,5527840.story

Want a fast sale, thinking about doing some DIY fixes on your Sacramento area house? Or are you a new home owner to the Sacramento area, if so we can give you a 10% off coupon from Lowe's that is good for any one purchase up to a maximum of $5,000! That means if you spend $5,000 at Lowe's you get $500 off, $1,000, you get $100 off. No cost and or obligation email or call us at 916.759.2147 for the free Lowe's coupon.

This free 10% off coupon is ONLY available from Realtors that are participating in Lowe's Realtor Benefits program.

Our Lowe's "Inside Out", free monthly e-newsletter is full of great advice too. No cost, no obligation, just send an email and say "Sign me Up Home Team Girls."

Monthly tips on moving, buying and selling available

Education about innovative products and projects around the home that yield the highest return

Home maintenance tips

The Home Team Girls Realtors® Real Estate Team helping you with Homes For Sale, Seller Strategies, Certified Buyer's Agent, Bank Foreclosure Specialist, Short Sale Specialist. We use the service of a certified  Home Stager on all of our listings. For Roseville and Sacramento Realtor Services call on the Home Team Girls.

MORTGAGE RATES

· Interest rates continue to remain near their historic lows. Thirty-year, fixed-mortgage interest rates averaged 6.04 percent during September 2008, compared with 6.38 percent in September 2007, according to Freddie Mac.

· Adjustable-mortgage interest rates averaged 5.14 percent in September 2008, compared with 5.66 percent in September 2007.

Want a fast sale, thinking about doing some DIY fixes on your Sacramento area house? Or are you a new home owner to the Sacramento area, if so we can give you a 10% off coupon from Lowe's that is good for any one purchase up to a maximum of $5,000! That means if you spend $5,000 at Lowe's you get $500 off, $1,000, you get $100 off. No cost and or obligation email or call us at 916.759.2147 for the free Lowe's coupon.

This free 10% off coupon is ONLY available from Realtors that are participating in Lowe's Realtor Benefits program.

Our Lowe's "Inside Out", free monthly e-newsletter is full of great advice too. No cost, no obligation, just send an email and say "Sign me Up Home Team Girls."

Monthly tips on moving, buying and selling available

Education about innovative products and projects around the home that yield the highest return

Home maintenance tips

The Home Team Girls Realtors® Real Estate Team helping you with Homes For Sale, Seller Strategies, Certified Buyer's Agent, Bank Foreclosure Specialist, Short Sale Specialist. We use the service of a certified  Home Stager on all of our listings. For Roseville and Sacramento Realtor Services call on the Home Team Girls.

· Real Estate Home Sales continue to rise year-over-year, with sales in September 2008 increasing 96.7 percent in California, compared with the same period a year ago. Sales soared above the 500,000 unit threshold for the first time in more than two years.

 · Month-to-month sales also continue to increase. Home Sales in September 2008 increased 2.3 percent compared with the previous month.

 HOME PRICES: 

· The statewide median price of an existing, single-family detached home in California was $316,480, a 40.9 percent decline from the revised $535,760 median for September 2007.

 · The September 2008 median price fell 9.6 percent compared with August's revised $350,140 median price.

· One reason for the large year-to-year declines in the median price is the dramatic change in the mix of sales since the onset of the credit/liquidity crunch. A year ago, the under $500,000 price range accounted for 46 percent of sales, the middle segment ($500,000 to $1 million) made up 40 percent, and the greater than $1 million segment captured 14 percent of the market. As of September 2008, the mix had shifted to 76 percent, 18 percent, and 6 percent, respectively.

Want a fast sale, thinking about doing some DIY fixes on your Sacramento area house? Or are you a new home owner to the Sacramento area, if so we can give you a 10% off coupon from Lowe's that is good for any one purchase up to a maximum of $5,000! That means if you spend $5,000 at Lowe's you get $500 off, $1,000, you get $100 off. No cost and or obligation email or call us at 916.759.2147 for the free Lowe's coupon.

This free 10% off coupon is ONLY available from Realtors that are participating in Lowe's Realtor Benefits program.

Our Lowe's "Inside Out", free monthly e-newsletter is full of great advice too. No cost, no obligation, just send an email and say "Sign me Up Home Team Girls."

Monthly tips on moving, buying and selling available

Education about innovative products and projects around the home that yield the highest return

Home maintenance tips

The Home Team Girls Realtors® Real Estate Team helping you with Homes For Sale, Seller Strategies, Certified Buyer's Agent, Bank Foreclosure Specialist, Short Sale Specialist. We use the service of a certified  Home Stager on all of our listings. For Roseville and Sacramento Realtor Services call on the Home Team Girls.

Some Relief Ahead

· The main constraint on market activity at this time is the lack of funds available for loans because of the credit crunch, which has been compounded by tighter underwriting standards.

· Historically, mortgage rates on jumbo loans are 0.2 percent to 0.4 percent higher than those on conforming loans, but the spreads since the onset of the credit crunch have been double or even triple that.

· The lack of available funds for loans, even for qualified buyers, has resulted in a dearth of buyers who can close on a home purchase.

· The time a home remained on the market prior to selling improved to 46.1 days in September 2008, compared with 56.7 days (revised) for the same period a year ago.

· In September 2008, it would have taken 6.5 months to sell all the homes on the market at the current sales rate, an improvement compared to a year ago, when it would have taken 16 months (revised).

· Although the Federal Reserve Bank's action to reduce the federal funds rate to 3 percent will have little near-term direct effect on the housing market, the rate cuts should result in more favorable real estate finance rates as we move through the year.

·The Successful passage of the economic stimulus package should positively impact the market as buyers who previously would have to take out a jumbo loan will qualify for more affordable conforming loans, thanks to the  plan to increase the conforming loan limit from $417,000 to as much as $729,750.

Want a fast sale, thinking about doing some DIY fixes on your Sacramento area house? Or are you a new home owner to the Sacramento area, if so we can give you a 10% off coupon from Lowe's that is good for any one purchase up to a maximum of $5,000! That means if you spend $5,000 at Lowe's you get $500 off, $1,000, you get $100 off. No cost and or obligation email or call us at 916.759.2147 for the free Lowe's coupon.

This free 10% off coupon is ONLY available from Realtors that are participating in Lowe's Realtor Benefits program.

Our Lowe's "Inside Out", free monthly e-newsletter is full of great advice too. No cost, no obligation, just send an email and say "Sign me Up Home Team Girls."

Monthly tips on moving, buying and selling available

Education about innovative products and projects around the home that yield the highest return

Home maintenance tips

The Home Team Girls Realtors® Real Estate Team helping you with Homes For Sale, Seller Strategies, Certified Buyer's Agent, Bank Foreclosure Specialist, Short Sale Specialist. We use the service of a certified  Home Stager on all of our listings. For Roseville and Sacramento Realtor Services call on the Home Team Girls.

Sacramento Area Median Home Prices Contines to  Lower

Looks like the market is continuing to correct more. Because of the unfortunate distressed sales in our region- it is causing the home market pricing to bottom out. Foreclosures have been the main reason why our area has been hit so hard. As soon as the REO Foreclosures dry up, we will start to see the market stabilize.

I have included some graphs what show our Market Shows Signs of Recovering. You can see a sharp decline in meian pricing and now we are leveling out which is a good sign. The Median price is coming down into a realistic price for new home buyers trying to make it back into the market.

 Want a fast sale, thinking about doing some DIY fixes on your Sacramento area house? Or are you a new home owner to the Sacramento area, if so we can give you a 10% off coupon from Lowe's that is good for any one purchase up to a maximum of $5,000! That means if you spend $5,000 at Lowe's you get $500 off, $1,000, you get $100 off. No cost and or obligation email or call us at 916.759.2147 for the free Lowe's coupon.

This free 10% off coupon is ONLY available from Realtors that are participating in Lowe's Realtor Benefits program.

Our Lowe's "Inside Out", free monthly e-newsletter is full of great advice too. No cost, no obligation, just send an email and say "Sign me Up Home Team Girls."

•·  Monthly tips on moving, buying and selling available

•·  Education about innovative products and projects around the home that yield the highest return

•·  Home maintenance tips

The Home Team Girls Realtors® Real Estate Team helping you with Homes For Sale, Seller Strategies, Certified Buyer's Agent, Bank Foreclosure Specialist, Short SaleSpecialist. We use the service of a certified  Home Stager on all of our listings. For Roseville and Sacramento Realtor Services call on the Home Team Girls.

This September's Market Snapshot features:
· California's housing market compared with the national market: Sales of existing single-family homes in California increased 57 percent year-over-year in August 2008, compared with an 11 percent decline nationwide.

· Differences in local housing markets: In some markets Median home prices may have decreased at a rapid pace, while other areas may have registered slight increases in recent months, demonstrating that housing markets are local and can vary greatly from one area to the next. The First Time Home Owner affordability has improved 24% from a year ago. This market report states that unsold inventory is down a bit since last month but a decrease of 59.4% since last year.

Check out our Real Estate Blog for more up to date satistics on the Northern California Placer County and Sacramento County areas.

Want a fast sale, thinking about doing some DIY fixes on your Sacramento area house? Or are you  a new home owner to the Sacramento area, if so we can give you a 10% off coupon from Lowe's that is good for any one purchase up to a maximum of $5,000! That means if you spend $5,000 dollars at Lowe's you get $500 off, $1,000, you get $100 off. No cost and or obligation email or call us at 916.759.2147 for the free Lowe's coupon.

This free 10% off coupon is ONLY available from Realtors that are participating in Lowe's Realtor Benefits program.

Our Lowe's "Inside Out", free monthly e-newsletter is full of great advice too. No cost, no obligation, just send an email and say "Sign me Up Home Team Girls."

•·  Monthly tips on moving, buying and selling available

•·  Education about innovative products and projects around the home that yield the highest return

•·  Home maintenance tips

The Home Team Girls Realtors® Real Estate Team helping you with Homes For Sale, Seller Strategies, Certified Buyer's Agent, Bank Foreclosure Specialist, Short Sale Specialist. We use the service of a certified  Home Stager on all of our listings. For Roseville and Sacramento Realtor Services call on the Home Team Girls.

I thought this article was worth sending out. We are finding that the affordability factor is improving for new home buyers. With most of the 100% financing programs now extinct-it will take new homeowners more money to get into a loan. Read the article below.

Seller Financing
Due to stricter loan underwriting standards and increased difficulty for some borrowers to qualify for a loan, even for those who are well-qualified, more sellers are offering financing to potential home buyers, which some believe can be mutually beneficial to both buyers and sellers, and can give sellers a competitive edge.

MAKING SENSE OF THE STORY FOR CONSUMERS

· In addition to sellers receiving a steady flow of income by providing financing to home buyers, sellers also can profit from the interest payments. Sellers also may be able to sell the mortgage on the secondary market, thus reducing their risk. However, seller-financing is not always the best option. Sellers who need the equity from their current home to purchase their next one are advised to not offer seller financing.

 · Buyers, especially those who are self employed, work on commission or have lower credit scores, but can explain the circumstances that led to it, also may benefit from seller financing. Often times, these buyers do not qualify for traditional, conforming loans, reducing their ability to become homeowners.

 · To reduce the risk of possible loan default, most real estate professionals recommend that sellers request a down payment of at least 10 percent, especially if the buyer does not have an ideal credit score. Buyers who do not have a large financial stake in the home may be more likely to default than those with a more substantial down payment. It also is recommended that sellers work with a real estate attorney to draft a contract that includes possible implications if the buyer issues a late payment, defaults on the loan or neglects to adequately insure the property. Sellers also should work with an experienced loan servicer who can collect payments and keep records.

To read the full story, please click here:
http://online.wsj.com/article/SB122376508247826199.html

Want a fast sale, thinking about doing some DIY fixes on your Sacramento area house? Or are you a new home owner to the Sacramento area, if so we can give you a 10% off coupon from Lowe's that is good for any one purchase up to a maximum of $5,000! That means if you spend $5000 at Lowe's you get $500 off, $1,000, you get $100 off. No cost and or obligation email or call us at 916.759.2147 for the free Lowe's coupon.

This free 10% off coupon is ONLY available from Realtors that are participating in Lowe's Realtor Benefits program.

Our Lowe's "Inside Out", free monthly e-newsletter is full of great advice too. No cost, no obligation, just send an email and say "Sign me Up Home Team Girls."

•·  Monthly tips on moving, buying and selling available

•·  Education about innovative products and projects around the home that yield the highest return

•·  Home maintenance tips

The Home Team Girls Realtors® Real Estate Team helping you with Homes For Sale, Seller Strategies, Certified Buyer's Agent, Bank Foreclosure Specialist, Short Sale Specialist. We use the service of a certified  Home Stager on all of our listings. For Roseville and Sacramento Realtor Services call on the Home Team Girls.

Just listed your home..... Guess what, your home just entered a BEAUTY CONTEST! 

 Why not get crowned a beauty and get your home sold!

Why do some sell and others not? Let's assume your home is priced right, your Realtor did a CMA- Comparison Market Analysis, and your home is priced within the right range. Now what?

Enter the Beauty Pageant....

Once you list your home for sale- it is listed in a Beauty contest by default. Your home is competing with all the other homes that are priced similar to yours.

The Beauty School Drop Outs- Vacant homes

These potential beauties are bare-lifeless and cold feeling. If you are selling your home vacant, you are cutting out potential buyers that would have fallen in love with your home. Because furnishings and décor bring warmth and appeal to a home, that is why new home builders home pay big bucks for staging- because it works.

Look at it this way- over 80% of the buyers can't imagine their furniture in your home. If we have only 20 buyers out there in your price range- 80% will be cut out of the buyer pool. You have limited the buyers who will want to buy your home.

Check out the before and after pictures- which one would you crown the winner? Staging will make the difference and get your home into the finals.

A couple of tips:

1. When staging a room- stage to the focal point of the room. Ask yourself- what is the feature we want to accentuate? Stage that area. Most of the time the focal point in the family room is the fire place. Dress it up and make that area feel cozy. Remember- would you feel comfortable sitting in this room.
2. Don't always sit furniture on the edge of walls. It is sometimes better to float the sofa and love seat on an angle than to hug the wall. Experiment with what you have and move your furniture around to get the feel of the room
3. Lastly- look at the room with new eyes- what do you see when you look at the room- does the furniture block the flow of traffic- block a view? Don't let your staging detract from a view- or an architechtual feature.

Evening Gown Competition:

What your home wears will count when it comes down to the judging. Is your home wearing excessive clutter or is it over decorated?

Clutter eats equity-buyers can't see through all the stuff. It's like wearing too much makeup in a  cover up. Buyers want to see the features of your home not your collections, endless pictures on the wall and all those electrical cords behind your computer hutch.

Décor can either attract or distract. Have a stager evaluate your home to make the needed improvements

without eliminating any potential buyers from your home. Here are some tips on de-cluttering

Staging can make a difference as being crowned the winner and sold!  

Make sure staging is a part of your selling strategy.

Want a fast sale, thinking about doing some DIY fixes on your Sacramento area house? Or are you a new home owner to the Sacramento area, if so we can give you a 10% off coupon from Lowe's that is good for any one purchase up to a maximum of $5,000! That means if you spend $5,000 at Lowe's you get $500 off, $1,000, you get $100 off. No cost and or obligation email or call us at 916.759.2147 for the free Lowe's coupon.

This free 10% off coupon is ONLY available from Realtors that are participating in Lowe's Realtor Benefits program.

Our Lowe's "Inside Out", free monthly e-newsletter is full of great advice too. No cost, no obligation, just send an email and say "Sign me Up Home Team Girls."

•·  Monthly tips on moving, buying and selling available

•·  Education about innovative products and projects around the home that yield the highest return

•·  Home maintenance tips

The Home Team Girls Realtors® Real Estate Team helping you with Homes For Sale, Seller Strategies, Certified Buyer's Agent, Bank Foreclosure Specialist, Short Sale Specialist. We use the service of a certified  Home Stager on all of our listings. For Roseville and Sacramento Realtor Services call on the Home Team Girls.

Some goods again for mortgage holder of Arms and Adjustable rates. Read below for some facts. For more info go to our Home Team Girls blog

Central Banks Coordinate Global Cut in Interest Rates
Hoping to thaw the current credit freeze, the Federal Reserve, the European Central Bank, the Bank of England, and the central banks of Canada and Sweden reduced their primary lending rates by a half percentage point Wednesday. The Chinese central bank also reduced its key interest rate and lowered bank reserve requirements, while the Bank of Japan's rates remained unchanged.

MAKING SENSE OF THE STORY FOR CONSUMERS

· The purpose of the rate cut is to increase consumer confidence, which in turn should help stimulate the economy. When consumers and businesses have more confidence in the economy, they usually spend more money, which bolsters the economy by enabling retailers to increase sales and prevent future layoffs.

· The Federal Reserve controls the interest rate that banks charge each other for short-term loans. Usually this leads to banks lowering the rates they charge consumers and businesses. The short-term loan-rate reduction, from 2 percent to 1.5 percent, should have an almost immediate effect on credit-card rates, according to financial analysts. Interest rates on automobile and business loans also should decline. Generally, the short-term loan-rate reduction also leads to a reduction in mortgage rates; however, it is too soon to predict if that will happen in this case given the way the market has reacted to recent economic news.

· Some credit card companies already have reduced their credit card rates. Although there may be room for further reductions for some consumers, many experts believe that only consumers with the best credit scores and payment history will benefit from the rate reduction. Most credit card companies deem consumers with high credit scores as providing the least amount of risk.

· Consumers with fixed-rate mortgages will not benefit from the rate cut; however, those with adjustable-rate mortgages (ARMs) may. When banks receive an interest rate cut, they may pass along the savings to consumers. Homeowners with ARMs could receive a payment reduction.

To read the full story, please click here:
http://www.nytimes.com/2008/10/09/business/09fed.html?_r=1&hp&oref=slogin

Want a fast sale, thinking about doing some DIY fixes on your Sacramento area house? Or are you a new home owner to the Sacramento area, if so we can give you a 10% off coupon from Lowe's that is good for any one purchase up to a maximum of $5,000! That means if you spend $5,000 at Lowe's you get $500 off, $1,000, you get $100 off. No cost and or obligation email or call us at 916.759.2147 for the free Lowe's coupon.

This free 10% off coupon is ONLY available from Realtors that are participating in Lowe's Realtor Benefits program.

Our Lowe's "Inside Out", free monthly e-newsletter is full of great advice too. No cost, no obligation, just send an email and say "Sign me Up Home Team Girls."

•·  Monthly tips on moving, buying and selling available

•·  Education about innovative products and projects around the home that yield the highest return

•·  Home maintenance tips

The Home Team Girls Realtors® Real Estate Team helping you with Homes For Sale, Seller Strategies, Certified Buyer's Agent, Bank Foreclosure Specialist, Short Sale Specialist. We use the service of a certified  Home Stager on all of our listings. For Roseville and Sacramento Realtor Services call on the Home Team Girls.

This can be  great time to sell if you are moving and buying again. Interest rates are down. When you sell low you can buy low to offset your loses. The good news is, your new property taxes will be lower!

Sell your home fast in any market
Due to the large number of available homes on the market, and the fact that the traditional home-buying season is coming to a close, sellers need to be aware of key factors that can determine whether their home sells quickly or lingers on the market.

MAKING SENSE OF THE STORY FOR CONSUMERS

· Accurately pricing a home continues to be the number one factor to conclude a successful sale. Most REALTORS® guide sellers in determining an accurate listing price for their home by tracking comparable properties in their neighborhood that have sold within the previous three to four months. Since the market can greatly fluctuate from one neighborhood to another, some REALTORS® believe that setting a price based on comps older than three to four months will not accurately reflect the current market and could result in pricing a home at odds with current market conditions.

· Even in today's market, sellers do have some control over many contingencies. Some buyers may request that their contracts include contingencies based on their ability to obtain financing. To avoid risks associated with this contingency, some REALTORS® advise their clients to request buyers to provide a pre-approval letter from a well-established lender; a financial information sheet outlining the buyer's employment history, income, assets and liabilities; and a recent bank statement showing that the buyer has enough funding reserves for the required down payment. This ensures that the buyer is likely to be approved for a mortgage loan, and reduces the risk to the seller.

· Some buyers may use a home's inspection report as a bargaining chip to negotiate a lower price. When this occurs, some sellers offer buyers a lump sum of money so the buyer can make the repairs, rather than the seller repairing each item listed on the report. Sellers may be able to avoid paying a lump sum to the buyer by having the home pre-inspected prior to listing. This enables the seller to obtain accurate estimates for the cost of repairs ahead of time and provides the seller with the option of making the repairs before listing the home.

To read the full story, please click here;
http://realestate.msn.com/Selling/Article_kip.aspx?cp-documentid=10888459&gt1=35000

Want a fast sale, thinking about doing some DIY fixes on your Sacramento area house? Or are you a new home owner to the Sacramento area, if so we can give you a 10% off coupon from Lowe's that is good for any one purchase up to a maximum of $5,000! That means if you spend $5,000 at Lowe's you get $500 off, $1,000, you get $100 off. No cost and or obligation email or call us at 916.759.2147 for the free Lowe's coupon.

This free 10% off coupon is ONLY available from Realtors that are participating in Lowe's Realtor Benefits program.

Our Lowe's "Inside Out", free monthly e-newsletter is full of great advice too. No cost, no obligation, just send an email and say "Sign me Up Home Team Girls."

•·  Monthly tips on moving, buying and selling available

•·  Education about innovative products and projects around the home that yield the highest return

•·  Home maintenance tips

The Home Team Girls Realtors® Real Estate Team helping you with Homes For Sale, Seller Strategies, Certified Buyer's Agent, Bank Foreclosure Specialist, Short Sale Specialist. We use the service of a certified  Home Stager on all of our listings. For Roseville and Sacramento Realtor Services call on the Home Team Girls.