View this short video to learn what the new Government HAFA program is all about. The CDPE (Certified Distressed Property Expert) organization want all distressed homeowners to know about this program so that they can take advantage of it if they qualify. If you have any questions feel free to contact me at (916) 337-0658 or e-mail me at mike@BMikeWest.com for answers. My services to the distressed homeowner are free. Mike West Realtor, CDPE, Sr. Loan Consultant (916) 337-0658 04/20/2010

El Dorado Hills, CA REO (BANK OWNED) SALES DATA FOR March 2010   This is a continuation of my two-plus year monthly report on Bank Owned home sales data for El Dorado Hills, CA.  This report covers Bank Owned homes sold in March2010.   There were only seven Bank Owned homes sold in March, down from twelve the previous month.  This reflects the level of inventory.  At this writing there is only a four month inventory of REO homes available in El Dorado Hills.   The average days-on-market decreased to 18, down from 26 the previous month.  A full 58% of the REO homes sold were on the market less than two weeks.  The well priced homes are selling quickly as usual.  Those that were not well priced took longer to sell—Real estate 101.    The seven REO homes that sold represent only 15% of all... 04/11/2010

HOME AFFORDABLE FORECLOSURE ALTERNATIVES PROGRAM   Have you ever heard of HAFA (Home Affordable Foreclosure Alternatives) Program?  If not, you soon will.  It is the latest government attempt to straighten out the mess in our housing market. HAFA is an adjunct to the Home Affordable Modification Program (HAMP); which is designed to assist distressed homeowners who qualify to obtain a loan modification, reducing their payments so that they can save their home.  Although HAMP is reported to be having an impact with over 170,000 families receiving permanent modifications and 91,000 more getting close, not every household can qualify.  HAFA is designed as an alternative program for those who can not qualify for a loan modification through the HAMP program.  Information and forms that they s... 04/08/2010

A Family Friendly Roadhouse featuring great food, motorcycles, music and sports.  Located on the scenic Green Valley Road next to Folsom Lake in El Dorado Hills, The Purple Place is the perfect stop whether on a picturesque ride or just around town for a bite.  Mike Hountalas has grown up in the restaurant business.  He and his wife Denise are the proud owners "of this family friendly joint"  Everything they use is very high quality.  angus beef, honey cured and apple smoked bacon, cut thick. YUMMY.  "That is what really makes the difference."  So, stop in and be sure to order the "Tombstone BBQ bacon cheesburger"-you won't be sorry that you did!  For more info. on dining in El Dorado Hills-or for any information on this fine Community-Wendi-Mae is here to assist you in your quest!  Bro... 04/05/2010

Comprised of more than 50 female residents and formed less than 2 years ago, the assistance league of Sierra Foothills meets once a month to discusss what can be done to make the community a better place to live.  More specifically, they work to create programs that can help those less fortunate.  All the monies they raise, are used locally.   THey are a National Non-profit organization that facilitates community-based philanthropic programs.  Unlike most national charities, their focus is on local chapter needs.  They have projects for youngsters,  children in foster care  and seniors too. The group's two annual yard sales fund many of their activities and addt'l funding is raised through the sales of See's candies, gov't grants, and private donations.  This years major funding activit... 04/05/2010

With the Economy in its current condition and local schools struggling to provide students with the best education possible, the use of mentoring programs in elementary and Middle schools proves as effective way of helping to offset some of the challenges teachers face in the classroom. It is often very difficult to receive one-on-one help from their teachers due to class size.  One program geared toward assisting children (and teachers) with extra help is often often offered by the Big Brothers Big Sisters of El DOrado County.  Their School Mentoring Program, which extends to the 50 Corridor and El Dorado Hills Area assists 10 local elementary and middle schools.  The children are matched one-to-one with a Community volunteer called a "school mentor" who meets with the student at their... 04/05/2010

HAMP ENHANCEMENTS   The administration is making every effort to correct the problems in the housing market in an effort to get our economy back on track.  A major plank in their platform is the HAMP (Home Affordable Modification Program).  This program is an effort to provide distressed homeowners assistance in modifying their mortgages to make those mortgages more affordable.  Recent reports indicate that the program has helped over 170,000 households with over 91,000 getting close to a resolution.  The goal is to help between 3,000,000 and 4,000,000 homeowners by 2012.      The administration has performed a minor facelift to HAMP in an effort to increase its effectiveness.  The program adjustments are designed to help three groups: unemployed homeowners who can not make their mortga... 04/03/2010

As we near the end of March 2010, spring is in the air, the little-leaguers are in full swing and the home buying & selling season is underway.  On the horizon:    ·  April 5th - The federal Home Affordable Foreclosure Alternatives (HAFA) program will be launched. ·  April 5th - FHA Loan costs will increase.  Upfront mortgage insurance rising to 2.25% of loan amount. ·  April 30th - The federal $8,000 First-time and $6,500 Repeat Home Buyer tax credits will expire. •  May 1st - California's new $10,000 Home Buyer state tax credit program will begin.   Locally, March was the 2nd month in a row where the number of closed short sales equaled or exceeded the number of bank owned home sales.  Under the HAFA program, expect this trend to continue and expect the process of banks foreclosing on... 04/03/2010

Go ask Alice, when she's ten feet tall. Hey, I hear the Jefferson Starship will play at the casinos this spring. Hard to imagine that it's been 40 years since I was 17. Ah, I remember it like it was yesterday. The year was 1969. We had reserved seating on the first floor, but when the Jefferson Airplane hit the stage, everybody rushed to the front. There was little crowd control back then. I managed to swipe a front-row seat and stood on top of it as Grace Slick grabbed the microphone. The audience applauded like crazy. Slick welcomed the screaming crowd, slapped a few hands and asked her fans how much their tickets cost. Some people yelled out $10. Others said $12. I think the advance-purchase ticket price was $8.00. Slick leaned over the stage toward the guy who said $12. Her eyes wer... 04/03/2010

  Is this a good time to build your dream home in El Dorado Hills?  If your personal economy is such that you can buy a parcel of land and build, this is a great time to do it. Values for vacant lots are way down and construction costs are lower too. There are some gorgeous lots for sale in Serrano and at The Promontory. This property pictured here is 19 Powers Drive. It's located in the gated community of Kalithea at The Promontory. This lot listed as a short sale and has preliminary plans for a home that will take advantage of the views over Folsom and Folsom Lake. A link to my home video shwing an available lot that's located in Kalithea at The Promontory is located in the ride sidebar of this page. Check it out! Or you can cut and past the following URL. http://homeonthetube.com/lis... 03/29/2010

New First-Time Home Buyer Tax Credit For California Buyers Just Signed Into Law By The Governor Great news for California first-time home buyers. On Monday, March 22, 2010, the California State legislature passed AB 183, providing $200 million for home buyer tax credits. The Governor isigned the bill into law today! Part of a package of four bills passed at the request of the Governor, AB 183 is designed to help stimulate the economy and create jobs. It allocates $100 million for qualified first-time home buyers who purchase existing homes and $100 million for purchasers of new, or previously unoccupied, homes. In order to qualify the eligible taxpayer must close escrow on a qualified principal residence between May 1, 2010' and December 31, 2010. Additionally, if a purchase contract is... 03/25/2010

Welcome to 2010 - "The Year of the Short Sale"   For nearly four years, various elements of a perfect storm have been brewing and gaining strength as they have swept across the real estate landscape, leaving the hopes and dreams of home owners in their wake.  Entering the New Year, these forces will continue to swirl and intertwine, while the market players continue to react.  Look to 2010 to be "The Year of the Short Sale." Since the market's retreat began in 2005/2006, lenders were in denial as to the depth and severity of the housing crisis.  Foreclosure was used as a threat and a weapon to gain leverage with home owners.  Foreclosures are now being pursued only as a means of last resort, and short sales are being encouraged by the lender(s). Lenders in second, third and fourth posit... 03/25/2010

Existing homeowners purchasing a home for a primary residence can now benefit from the passage of the Home Buyers Tax Credit Extension.  To benefit, you must have a purchase contract in place by April 30, 2010 and close escrow before July 1st. I'll try to answer as many as I can in this FAQ and also provide you with some links to additional information and forms.  Disclaimer: I am not a CPA or Tax Advisor. Consult with your tax advisor for information relating to your specific circumstances.  After you read the information below, if you think you qualify for a tax credit, speak with your tax advisor to make sure. Q: Who is eligible to claim the $6,500 tax credit?Qualified move-up or repeat home buyers purchasing any kind of home intended as his/her primary residence are eligible to clai... 03/19/2010

El Dorado Hills, CA REO (BANK OWNED) SALES DATA FOR February 2010 This is a continuation of my two-plus year monthly report on Bank Owned home sales data for El Dorado Hills, CA.  This report covers Bank Owned homes sold in February 2010. There were 12 Bank Owned homes sold in January, up from 9 the previous month.  This continues to reflect the normal seasonal drop in activity and a reduction in the number of REO homes on the market. The average days-on-market increased to 26, one more than the previous month.  41.7% of the REO homes sold were on the market less than two weeks.  The well priced homes are selling quickly as usual.  Those that were not well priced took longer to sell-Real estate 101.  The 9 REO homes that sold represent only 31.6% of all homes sold in El Dorado Hills, up... 03/15/2010

El Dorado Hills, CA REO (BANK OWNED) SALES DATA FOR January 2010 This is a continuation of my two-plus year monthly report on Bank Owned home sales data for El Dorado Hills, CA.  This report covers Bank Owned homes sold in January 2010. There were 9 Bank Owned homes sold in January, down from 20 the previous month.  This reflects the normal seasonal drop in activity and a reduction in the number of REO homes on the market. The average days-on-market decreased to 25, half the time on the market of the previous month.  A full 55.6% of the REO homes sold were on the market less than two weeks.  The well priced homes are selling quickly as usual.  Those that were not well priced took longer to sell-Real estate 101.  The 9 REO homes that sold represent only 20.5% of all homes sold in El Dora... 03/15/2010

Lovely home in Serrano can be yours! 5103 Garlenda Drive, El Dorado Hills, CA 95762 View Map Here's your chance to grab a non short sale/ bank owned home without any red tape! This beautiful home in the desirable gated community of Serrano in El Dorado Hills boasts over 3200 sqft loaded with upgrades! Close to parks, schools, golf and minutes from shopping, this is sure to sell quickly! Presented by Stage Right Design. Contact agent: Jon Hesse Accelerated Realty Group (530) 305-2914 Details Asking Price: $445,000 MLS: 10020039 Sq. Feet: 3281 Bedrooms: 4 Bathrooms: 3 # of Floors: 2 HOA/Maintenance Fees: $120 Garage Size: 3 car Subdivision: Serrano of El Dorado Hills Year Built: 2004 Property Amenities - Range/Oven- Sink Disposal- Microwave- Dishwasher- Fireplace- Kitchen Island- Patio- ... 03/14/2010

El Dorado Hills has 291 active listings of which 138 are short sales with 82 of them already having seller accepted offers and waiting for lender approval. There are 23 REO's (bank owned) properties for sale. Home prices range from $270.800 for a 3 bed/2 bath to a newer 6057 sq ft home priced at $2,700,000. There are 84 homes for sale priced under $400,000 and 34 homes priced over $1,000,000 indicating both affordable and luxury living is available in El Dorado Hills. There are 79 pending sales with average days on the market of 78. There are 138 sold listings in the last 3 months with average days on the market of 85. Average list price to sale price is 97.2% indicating buyers are aware of the bargains in this area.   03/10/2010

I was fortunate enough to have an excuse for driving east up highway 50, to El Dorado Hill's Town Center today.  I have friends who work and live in "high places" - or up the hill, as Sacramentans sometimes refer to the Greater Sacramento community of El Dorado Hills.  We had decided once again to gather for lunch!  Because the El Dorado Hills is cradled in the arms of the Sierra Nevada Foothills, and exists at higher elevation than our valley city, it is often above the fog line, and able to enjoy the sun!The Town Center in El Dorado Hills is a delightfully designed area of shops, boutiques, great dining places, markets, and cinemas.  It is also adjacent to a Mercedes dealership!For a complete list of shops and vendors you can explore The El Dorado Hills Town Center website.  I highly ... 03/03/2010

In The Great American Classic, Herman Melville penned the famous line "Thar she blows" when Captain Ahab and his crew finally sighted the beast of Ahab's obsession: Moby Dick.  During the past 18 years in the residential real estate business, assisting home buyers and sellers I have never seen a market like the one we are in today.  Every day, I see something new.  My past newsletters and blog postings have, in part, chronicled the rise and fall and unknown rebirth of the local housing market, while adding my insights and perspectives. In my December 2009 Newsletter, after peering into my crystal-ball, I suggested that the enigma of the market had turned from bank owned homes to short sales, and how ultimately, the markets would rise or fall based on finding a standardized way to effici... 02/28/2010

The El Dorado Chapter Women's Council of Realtors will be hosting their 7th Annual Grape Escape Fundraiser Event May 7, 2010, 5:30 - 9:00 PM at Mercedes Benz of El Dorado Hills.  This is a great fundraiser and fun event for us definitely worth the time and effort.  There will be 10 local wineries and 10 local restaurants to wine and dine you and a silent auction to entertain you.   Our benefactor this year is Family Connections of El Dorado County.  Tickets are available in advance for $25 each or at the door for $30 each. Contact Christy Johnson at Lyon Real Estate - 530-903-0304 or Jan Peeples at ERA Realty - 916-933-3462 for tickets or more information.  For more information on Family Connections visit http://www.familyconnected.org/. "Our Mission is to Strengthen Families and Enrich... 02/17/2010