To Search For Homes In Folsom/El Dorado Hills/Sacramento Ca http://www.johnhayesrealestate.com Questions regarding Short Sales...Need to Short Sale Your Home: http://www.folsomshortsale.com John J Hayes RE/MAX Gold REO/Short Sale Specialist Certified Distressed Property Expert 530-306-3316 DRE#01709600 07/20/2010

Folsom, CA REO (BANK OWNED) SALES DATA FOR May 2010 This is a continuation of a three year study of Bank Owned home sales data for Folsom, CA.  This report covers REO homes sold in May 2010. There were 17 REO homes sold in March, up from 13 in April.  The days-on-market decreased to 45, down from 53 the previous month.  Only one of these homes had been on the market for over 100 days.   In May 30% of the bank owned homes sold in two weeks or less.    The 17 homes sold represent 20% of all homes sold in Folsom, on the low end of the normal range.  There are far fewer Bank Owned homes available on the market and short sale homes continue to have an impact. The overall home inventory in Folsom dropped back down to a 2.7 month supply after s spike in a February and April to a 4.2 month supp... 06/23/2010

Just sold in Folsom Ca The cutest little cottage. 2BR 2Full bath home with laminate, tile and carpet floors. Fresh paint, carpet and neat as a pin. This home has been professionally cleaned up and is ready for you to move in now! Bank Owned home selling in present condition. $220,000 Beds: 2 Baths: 2 Sq Ft: 1207 Lot Sz: 0.118ac Yr: 1995* John J. Hayes RE/MAX Gold REO/Short Sale Specialist 530-306-3316 DRE#01709600 www.johnhayesrealestate.com www.folsomshortsale.com 06/22/2010

Folsom, CA REO (BANK OWNED) SALES DATA FOR April 2010   This is a continuation nearly three year study of Bank Owned home sales data for Folsom, CA.  This report covers REO homes sold in April 2010. There were 13 REO homes sold in March, one less than in February.  The days-on-market decreased to 54, up from 53 the previous month.  Only one of these homes had been on the market for over 100 days.   In April only 16% of the bank owned homes sold in less than two weeks, this is an unusually small percentage.    The 13 homes sold represent 26% of all homes sold in Folsom, on the low end of the normal range.  There are far fewer Bank Owned homes available on the market and short sale homes continue to have an impact. The overall home inventory in Folsom increased significantly in April to 4... 05/08/2010

Folsom, CA REO (BANK OWNED) SALES DATA FOR March 2010   This is a continuation two plus year study of Bank Owned home sales data for Folsom, CA.  This report covers REO homes sold in March 2010.   There were 14 REO homes sold in February, up from the in February.  The days-on-market increased to 54, up from 53 the previous month, the third monthly increase in a row.  Three of the 14 were on the market for wall over 100 days, indicating that there were condition problems with those homes.  In March, 36% of the bank owned homes sold in less than two weeks, this despite the low inventory. Bank owned homes in good condition and priced well sell very quickly.      The 14 homes sold represent 20% of all homes sold in Folsom, slightly lower than normal.  There are far fewer Bank Owned homes av... 04/11/2010

Just in time for Spring!  Folsom Lake lifts the 5MPH speed restriction-Yahooooo!!!! hard to believe this is what it used to look like out there.  We can thank the good Lord for the levels have increased...Anybody ready for some boating?  Maybe a little Fishing?  Lake levels were about at the 400-foot mark over the last weekend, when measured against the dam.  For this, and any other information on the city of Folsom-or the Communities within...call Wendi-Mae Davis, CRS, GRI, Broker Associate for connect realty.com, INC. Toll Free 866-333-6333 or email wendimae@wendimae.com or check out her personal website at:  HTTP://www.wendimae.com  Happy Boating to all! Now that is a site! 04/06/2010

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

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

Folsom, CA REO (BANK OWNED) SALES DATA FOR February 2010 This is a continuation two plus year study of Bank Owned home sales data for Folsom, CA.  This report covers REO homes sold in February 2010. There were 9 REO homes sold in February, down one from January.  This volume reflects seasonal adjustments in home sales.  The days-on-market increased to 53, up from 46 the previous month, the second monthly increase in a row.  In February, 30% of the bank owned homes sold in less than two weeks, this despite the low inventory.  The 9 homes sold represent 25.7% of all homes sold in Folsom, slightly lower than normal.  There are far fewer Bank Owned homes available on the market and short sale homes continue to have an impact. The overall home inventory in Folsom continues to drop and we hav... 03/15/2010

Folsom, CA REO (BANK OWNED) SALES DATA FOR January 2010 This is a continuation two plus year study of Bank Owned home sales data for Folsom, CA.  This report covers REO homes sold in January 2010. There were 10 Bank Owned homes sold in January, down from 19 in December.  The 47.4% decrease reflects, in part, the normal seasonal decrease in home sales.  The days-on-market increased to 46, up markedly from 31 the previous month.  In January, only one home sold in less than two weeks, that 10% is the lowest since we have been reporting these figures.  This is a significant change from the norm and may just be a one month statistical anomaly.    The 10 homes sold represent only 19.3% of all homes sold in Folsom, a much lower number than normal.  There are far fewer Bank Owned homes availabl... 03/15/2010

In the last couple of weeks I have closed two short sales representing Buyers  that took over 9 months to complete!  What's Short About That!!  When the term is loosely thrown around, it's not because the escrow or process is short, it's because the bank is approving a short payoff.  What I suspect is truly slowing the process, is the method used by the negotiators working the file.  Often Listing Agents, Short Sale Processors etc. call weekly on a given day to check on the status of your transaction.  For example, if you need to send an updated bank statement you fax it to the bank and the following week the processor checks to see if it was received.  If not, you send it again, wait another week and check status.  You can lose up to 2 to 3 weeks just making sure the documents are rece... 03/14/2010

Folsom continues to be one of the bright spots in the real estate market as far as market activity and turnover. There are 260 active listings of single family homes. Of the active listings 118 are short sales with 80 of them already having seller accepted offers and waiting for lender approval. There are 27 REO's (bank owned) properties for sale. Prices range from a $144,900 3 bed/1 bath home to a 5200 Sq Ft custom home in American River Canyon North for $2,500,000. There are 141 homes in Folsom priced under $400,000 indicating affordable homes are plentiful. There are 102 pending sales with average days on the market at 60. There are 168 sold listings in the last 3 months indicating great turnover activity. Average days on the market for sold listings are 66. Average list price to sal... 03/10/2010

Folsom Real Estate-January Sales Figures     The Folsom real estate market has been one of the most stable in the entire Sacramento region.  Great schools, shopping, restaurants and beautiful surroundings have kept it a desirable place to live...and as such, demand has remained high (relatively speaking). This is the market sales report for January 2010 and show slow but staedy sales activity with relatively low sales inventory available. Search the Folsom MLS Folsom Homes Listings  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

You may be hearing that it's a buyer's market. Since real estate is a local business, to know the market, you must dig deeper than national or even regional statistics.  Folsom, CA is a highly desirable, family oriented community which is located in the Greater Sacramento Region.  In Folsom in December 2009, there were 64 single family homes sold at 94% of the list price. The average days on market for the same month was 76 and the average price per square foot was $169.  There was only 2.4 months of inventory. Because inventory defines the "market", when the inventory is less than 5 months, it is considered a seller's market.  Now, let's look at the condo statistics for properties built since 1995 in Folsom. There were 13 sold at 97% of the list price. The average days on market was 13... 02/04/2010

Happy New Year!  Turning the page on 2009 marks my 5th year as a Folsom resident and my 18th year as a real estate brokerage owner.  2010 will hold many opportunities for home buyers and sellers in the local real estate market.  Housing affordability continues to rise and the chance for the growing family to upsize in to a roomier home has never been better.  I wish you all a happy and prosperous 2010! Recent Folsom Housing Stastics:  We closed out December of 2009 with a total of 69 home sales in Folsom, CA.  Of the sales, 19 were foreclosure / bank owned, 15 were short sales and 35 were non-distressed home sales.  The average dollars per square foot was $176, the aveage home sales price was $387k, the number of available homes stood at 220 and there was a three month supply of invento... 01/31/2010

As I was driving to Folsom yesterday to meet with yet another charming couple who need to do a short sale, a potential short sale seller from Elk Grove called me. She was interviewing Sacramento short sale agents and had already spoken to an different agent at another company. In her words, this company was "very aggressive." She asked how I separate myself from the competition. Well, to start with, my clients are not just a number on a file. Some short sale agents put together a huge team and hire a bunch of assistants to negotiate and take listings for them. They want to do volume. The attention paid to these sellers is often minimal. If a short sale has a problem or challenge, they might not handle it in a timely manner. Some of them toss listings into MLS like worn shoes into the tr... 01/27/2010

Published by the Sacramento Bee on 1/21/10 Sacramento area homeowners closed 40,534 escrows during 2009, falling just shy of the region's 2008 total, researcher MDA DataQuick reported Thursday. In 2008 the region saw 41,030 closed escrows. Analysts say sales fell slightly in 2009 as cheap bank repos became a smaller part of the sales mix. The year 2009 also ended with sales prices having fallen less than 1 percent in Sacramento County. The number represents a dramatic ending to the traumatic free falls that frightened area homeowners throughout 2007 and 2008. Prices for new and existing homes combined fell just 0.6 percent in the county in 2009, DataQuick reported. That compared to a 36.8 percent plunge in 2008 and a 20 percent drop in 2007. For the second straight month, DataQuick repo... 01/25/2010

Residents of Folsom are excited about ground breaking yesterday, which began major construction to revitalize historic Old Folsom.Old Town Folsom has been one of my favorite destinations for nearly a lifetime.  Steeped in rich Gold Rush era history and haunts.  It exists along the American River, just 7 miles from my home. Folsom is much more than a prison town made famous by Johnny Cash and his song, "Folsom Prison Blues."  It's a California Gold Rush town, a Railroad Town, and was the Western Terminus of the Pony Express.  We also have Folsom Lake and Folsom Dam.Old Town Folsom has remained much the same since the 1850s, with little change being seen on historic Sutter Street.  There are antique shops, great little cafes and restaurants, and a delightful ice cream shop.Already full of... 01/24/2010