The Elk Grove real estate market has really under gone some changes in 2009!   If you are out there trying to purchase a home in this market now, you are probably experiencing some difficulty due to these changes.  Just a year ago, our Elk Grove inventory stood at approximately 1100 active listings in the Elk Grove area (zip codes - 95624, 95757 and 95758) and today that number has dropped to approximately 900. This number is significant in itself, but the real SHIFT has come in what makes up those numbers. Last year at this time, the inventory consisted of approximately 40%-50% REO (real estate owned) or bank owned properties, another 30%-40% were short sale listings and the balance were equity sellers. On November 3, 2008 in Elk Grove we had 279 active bank owned listings on the marke... 11/21/2009

The streamlined k is a great tool but if only do the streamlined k and not the full 203k you run the risk of loosing some loans from time to time. Using a plan review is also a great tool because the plan reviewer or consultant can find things that if the appraiser found them would trip the streamlined k to a full 203k.  We just had one that was a streamlined k that became a full 203k. When I went to inspect it I found the home next to high tension tower. Agents beware. If you're selling a home next to HT distribution wires or more particularly a tower... think "yuk" and go for some other loan product. The guideline indicates there should be 10 feet from the HT easement to the house... you are okay... then it goes on to say it cannot be within the fall distance of a HT tower... that kil... 11/18/2009

I spent a beautiful California Sunday at our new home sales office in Monterey Village in Elk Grove. We had a ton of traffic today, so it was a productive Sunday this weekend. Move in within 30 days!  Don't miss your first time home buyer tax incentive!  Plus 3% buyer incentive for closing costs!  Homes from $185,000 - $305,000...2 bedroom, 3 bedroom, and 4 bedroom models currently available!  Gated community located near new shopping & restaurants, parks, Toby Johnson Middle School and Franklin High School, plus close to Interstate 5 for easy commute to Downtown Sacramento. Sales office will be open on Ocean Lane, Thursdays through Sundays, 11:00 - 4:00.  For more information, contact Lori Mode or Bruce Durham, Keller Williams Realty.  Call us at (916) 230-0371 or check out available ... 11/15/2009

With the holidays quickly approaching, I thought it would be great to have a list of coming holiday events in the Elk Grove area.    Saturday, November 14th -  SCEG's Holiday Bazaar - 9:00am to 3:00pm at Elk Grove Senior Center, Elk Grove, CA Friday, November 20th - Elk Grove Police Department K9 Unit Holiday Fundraiser - 6:30 pm  Franklin Ranch Pet Hospital & Hotel10207 Franklin Blvd., Elk Grove Saturday, November 21st - Holiday Craft Fair Monterey Trail High school in Elk Grove from 10am till 4pm in the multipurpose room. Tuesday, November 24th 5:30 - 7:30   Christmas CanTree Lighting Kick Off      Stroll through the garden sampling appetizers from local restaurants and wine from Carvalho Family Winery.   Located at the Secret Garden - 8998 Elk Grove Blvd., Elk Grove Friday & Saturday... 11/15/2009

Please join us at the Elk Grove Real Estate Investors Group next TUESDAY NIGHT -November 17th! If you come to our November and December meetings... Bring 5 cans of food to be donated to the Elk Grove Food Bank and we will waive the $15 entry fee! We have a special guest this month for our Elk Grove Real Estate Investors meeting! Ever wanted to flip properties in the Sacramento area? Get the inside scoop from area investors who are doing it! Find out how out to successfully rehab and/or flip in our local market! Please welcome us in joining David Granzella and John Johnson of Norcalreia, Vision Real Estate Solutions, Inc., and the Norris Group. David will share how his team has purchased, rehabbed and/or flipped almost 20 properties year-to-date in our current market. David and John are ... 11/13/2009

With the winter months quickly approaching and the first time home buyer tax credit looking as though it is going to be extended, what is our current Market in Elk Grove, CA doing????  With incredible interest rates, affordability at a 40 year low and tax credits still available, buyers have been busy - both first time home buyers and investors! Here's the latest Statistical Summary for the Elk Grove, CA Real Estate market, based on data pulled on October 31st from California Metrolist Active Listings: There are currently 878 single family homes for sale in the Elk Grove area - this includes 95624, 95757 and 95758 zip code areas) .  Price Range - $95,000 to $4,350,000 2 bedroom, 1 bathroo.m, 828 square feet - 7 bedroom, 7 bathroom, 10,350 square feet Average - 4 bedroom, 3 bathroom, 224... 11/04/2009

  I thought I would share my neighborhood with you.  I live in the Camden area in Elk Grove.  This is a picture of our lake taken at sunset this evening from a section of our running/walking/biking trails that I enjoy throughout the neighborhood. Camden is a neighborhood of custom, semi-custom and production homes, consisting of Camden Passage, Camden Park and Camden Point.  It contains the lake where I often see many people fishing, miles of trails winding throughout the neighborhoods, greenbelts, and several parks.  Why I love to live in Camden Search all Elk Grove homes here!  Search all Sacramento homes here!     Lori Mode and Bruce Durham, Keller Williams Realty in Elk Grove, CA                www.AllElkGroveHomes.com 11/01/2009

I've said it before, but I'll say it again, I love working on Wachovia short sales. Give me nothing but Wachovia short sales in Sacramento and Elk Grove, and I'll be a happy, happy short sale agent. A Wachovia short sale is like that lone flower growing out of a sun-drenched sidewalk crack. I work on enough short sales in Sacramento to thoroughly appreciate the no-nonsense way that Wachovia handles its portfolio of loans in default. Other banks pale in comparison to Wachovia. I'd say that Wachovia performs like a Gold Medal athlete at the Olympics while, let's say, Bank of America hobbles along like some old guy in a wheelchair with a flat tire. I met with the manager of Wachovia's short sale department 6 days ago. We walked through one of my short sale listings in Elk Grove as I spoke ... 10/27/2009

Short sale buyer's agents in Sacramento are wising up and asking more questions upfront about my listings before showing them to a buyer, but I still get the goofy questions about homes that are new to the market such as: Is this short sale approved by the bank? Some banks such as Wachovia and Wells Fargo are putting systems in place to preapprove the sales price but most banks do not. It takes an offer from a qualified buyer to get a response. I've had only one bank this year tell me that the price on my Sacramento short sale wasn't satisfactory, and that same bank came back 3 months later to accept an offer at that price. That bank, of course, was Bank of America. Banks are accepting the short sale offers I submit. However, the offers I submit are generally much higher than my list pr... 10/23/2009

I attended my first Elk Grove Investment Club meeting tonight and it was great!  Hosted by Todd & Erin Newington of First Priority Financial with guest speakers, Bill and Chris Stanley of Realty Roundup, a local property management company, it was well attended by area investors. I am often asked by potential investor clients about the local market and so I make sure that I stay up on the local rental market as much as possible.  What a great opportunity to listen to the opinion of an area expert.  Realty Roundup is the largest property management company in the local area and information regarding the Elk Grove rental market was shared by Chris Stanley with the investors.  Chris stated that the Elk Grove rental market has remained fairly stable over the past couple of years.  The renta... 10/20/2009

Please join us at the Elk Grove Real Estate Investors Group next TUESDAY NIGHT - October 20th! We have a special guest this month for our Elk Grove Real Estate Investors meeting who will discuss the Sacramento Rental Market! Wonder what is going on with the Sacramento Rental Market? Find out what other landlords are getting for rent in your area! Join us and meet Bill Stanley from Realty Roundup. Bill has been in the property management business for years and operates one of the largest property management companies in our area.We thought it was appropriate to bring back Bill to give us an update on the rental market as we move into 2010. Bill and Chris will cover...   Sacramento Rental Market statistics Vacancy rates Current rental rates Turn-times to replace a tenants How many tenants... 10/16/2009

The Elk Grove real estate market has been very active for the past few months.  We have had less inventory, multiple offers on most properties and homes selling very quickly - most in under 1 or 2 weeks! Here are the numbers as of today, October 13, 2009 for the Elk Grove area (95624, 95757 and 95758 zip code areas) - We currently have 777 active residential listings in Elk Grove, of which 78 are REO's or Bank Owned homes.  In addition 201 of these are Active Short Sale listings and 482 are Active Short Sale Contingent, thus leaving only 16 homes which are regular "equity" sellers.  We had 254 closed residential sales in Elk Grove in September 2009, with our average list price being  $245,034 and our average sales price being $247,414.  Our average Days on the Market for September 2009 ... 10/13/2009

In our first weekend of new home sales at Monterey Village in Elk Grove, we sold 2 of our 11 homes currently for sale.   We currently have 6 single family new homes for sale ranging from 1425 square feet to 2402 square feet and 3 patio homes from 1001 square feet to 1711 square feet.  Monterey Village is a unique gated master planned community in Elk Grove.  Combining distinctive styles of living, lush landscaping and desirable amenities, this community is being heralded as one of the best in the greater Sacramento area.Nestled within the quiet sophistication of this gated comunity, Cypress Cove delights with its unique home plans that offer a choice of three distinctive architectural design styles.  The Villas offer distinctive detached patio homes including single and two story reside... 10/13/2009

Elk Grove new homes!!!  Monterey Village new homes are available...                    Move in within 30 days!  Don't miss your first time home buyer tax incentive!  Plus 3% buyer incentive for closing costs!  Homes from $185,000 - $305,000...2 bedroom, 3 bedroom, and 4 bedroom models currently available!  Gated community located near new shopping & restaurants, parks, Toby Johnson Middle School and Franklin High School, plus close to Interstate 5 for easy commute to Downtown Sacramento. Sales office will be open on Ocean Lane, Thursdays through Sundays, 11:00 - 4:00.  For more information, contact Lori Mode or Bruce Durham, Keller Williams Realty.  Call us at (916) 230-0371 or check out available homes at www.AllElkGroveHomes.com.   10/02/2009

We've been talking with a lot of home owners lately who have tried to do a loan modification.  Some were denied and out of frustration have decided to let their house go to foreclosure.  Many people make emotional decisions without seriously considering their long term effects.  In the situation where a homeowner has been denied and they let it go to foreclsoure, can they or should they consider, other options? Yes!  Before letting the house go to foreclosure consider what's the impact on my credit?  Can a "Short Sale" help me? A foreclosure will remain on your credit report for seven to ten years.  It usually takes 5 years before new mortgages maybe obtained.  With a short sale, however, you may be able to purchase a new home within 2 years assuming you keep other payments current and ... 10/01/2009

Please join us at the Elk Grove Real Estate Investors Group (Elk Grove REIA) TUESDAY NIGHT - September 29th! We have a special guest this month for our Elk Grove Real Estate Investors meeting! Join us and meet a Sr. Code Enforcement Officer for Sacramento County. We will pick his brain and find out how to get the scoop on potentially distressed properties in our market place. Find out... How to locate properties with code enforcement issues! How the county works with banks to clean up their inventory! If Sacramento County Code Enforcement will work with Investors that have purchased red tagged homes! How much the fines are when dealing with red tagged Sacramento homes. And more.... bring your questions! Visit the Elk Grove Real Estate Investor Group website >> MEETING LOCATION9275 E. St... 09/27/2009

Wells Fargo approved another short sale yesterday for an Elk Grove seller. The negotiator was a chatty guy out of South Carolina who used to live in Sacramento -- on one of the "fish streets" in Rosemont. Very nice guy. I'd like to go on the record as saying that not every negotiator who works for a short sale bank is an evil troll. In this situation, the seller had tried, unsuccessfully on two separate occasions -- one of which was in the middle of our active short contingent status -- to do a loan modification. He was current on his mortgage, borrowing money to make the payments. I can't blame the seller for trying to do a loan modification because all sellers are entitled to try to save their homes. But I know from my past experience that very few of them are granted. Many of my shor... 09/18/2009

We all know that the market of the moment is Distressed Properties, but with the inventory decreasing in the Elk Grove area over the past several months, REO listings come on the market and quickly are pending with multiple offers.  Well, we have been seeing the same thing happening with our Short Sale listings in Elk Grove.  I have been listing and selling more Elk Grove short sale listings than ever before, so I thought I would check the statistics on these sales.            First, what is a distressed property - A property in poor physical condition A property that is or will soon be in some stage of the foreclosure process A property owned by a person experiencing a period of financial hardship or instability A property where the mortgages exceed the current value and the owner need... 09/17/2009

As summer starts to wind down, children are back in school and we are all ready for the fall weather, what is our current Market in Elk Grove, CA doing????  With incredible interest rates, affordability at a 40 year low and tax credits still available, buyers have been busy - both first time home buyers and investors! Here's the latest Statistical Summary for the Elk Grove, CA Real Estate market, based on data pulled on August 31st from California Metrolist Active Listings: There are currently 789 single family homes for sale in the Elk Grove area - this includes 95624, 95757 and 95758 zip code areas) .  This active listing count is down by approximately 33% from 1 year ago. Price Range - $89,900 to $4,999,000 2 bedroom, 1 bathroo.m, 828 square feet - 6 bedroom, 7 bathroom, 10,350 squar... 09/08/2009

Over 15,000 house fires reported each year originate in the laundry room; failure to clean dryer vents is the number one cause.  Other causes of dryer fires are due to inferior dryer vent systems or improperly installed dryer vents.   If you live in an older home your outside dryer vent is likely just a few feet long and can easily be cleaned without calling a professional; however, professional dryer vent inspection is recommended to be sure the proper materials are being used.  Vinyl or flexible foil dryer vents are no longer being installed by dryer vent exhaust specialists today.   Today, newer homes are being built with the laundry facilities in the middle of the house, requiring a much longer stretch of dryer duct material leading to the vent outside.  The laundry area might be up... 08/28/2009