In a surprising survey (very surprising?) released last week, Experian showed that data indicates that many subprime borrowers are paying off their credit card bills before their mortgage payment! Do they think that they don't have much to lose by not paying their mortgage? Are their credit cards more important? Prime borrowers, by the way, haven't changed: they are still less likely to be late on their mortgage than on their credit cards. Check out: http://www.businessweek.com/bwdaily/dnflash/content/jun2007/db20070620_271294.htm   09/02/2007

Real Estate in the Sacramento and surrounding areas will see the eye of the storm of Foreclosures over the next 24 months. I was privileged to be a part of a conference call with Brian Brady, America's Mortgage Broker, where he outlined what to expect in the months ahead with Real Estate and the Mortgage Industry.This is not meant to alarm but to inform so that you can better prepare and know what to anticipate in the Real Estate and Mortgage Lending fields.Here is what I gleamed from Brian and those that attended. This storm is a category 5 and will have devastating results. Like with any storm, it is vital to prepare and be aware of its approach.The adjustable loans that were handed out like candy will have all surfaced their ugly heads during this time. This phenomenon is not just pr... 08/31/2007

Lots going on in Sacramento for Labor Day Weekend.Come to Old Sac and Celebrate the Old Gold Rush Days! The cobblestone streets will be covered with dirt to reenact the days of the Old West. Do you want to ride a wagon train? How about pan for gold? Or just listen to the music from the time and watch the street dramas. Friday, 9 am till 4 pm Saturday and Sunday, 11 am till 7 pmMonday, 11 am till 4 pmDon't miss this one...runs from August 31 thru September 3rd.If this doesn't intrigued you, remember that the CA State Fair is still running and would be a great place to celebrate the Labor Day Weekend. The CA State Fair runs thru September 3rd. Are you interested in some food? How about the 44th Annual Greek Festival being held at the Convention Center at 1400 J Street, Downtown from Augus... 08/30/2007

Congratulations to all of the First Time Home Buyers! This past week, Tabitha and Jacob moved into their new Beazer home in Natomas. It was a pleasure working with you both and getting the very best deal for the two of you. Who says you don't need a Realtor to represent you when dealing with a Builder? That statement wouldn't hold water with the two of you, would it?And to Cheryl and David, enjoy your new home in Elk Grove, CA. It was a long time coming but it is yours and the excitement I saw in both of your faces was exhilarating. It was my pleasure to help find just the right home for the two of you and to introduce you to your new neighbors. It was fun taking that photo of you carrying Cheryl across the threshold...Mark, I think we saw every house on the Real Estate market for sale.... 08/27/2007

What a day yesterday was, a call on my cell phone from the Remax Gold office letting me know that my check from a recent sale last week was ready for pick-up.The secretary said, "oh by the way...there are the most extraordinary chocolate covered strawberries delivered to you, and everyone is eying them...don't know how long they will last!"What a surprise to enter the office to find a silver platter with beautifully decorated strawberries from Shari's Berries in Sacramento.I couldn't imagine who would send me this array of decadent goodies. There was a ribbon attached to the bow that read "The Greatest" ... now for the card which was very personal and was not signed but had enough said that I knew it was the Buyer whose check was now waiting for me. This young man was referred to me by ... 08/24/2007

Sacramento Real Estate took the afternoon and evening off and went to the CA State Fair in Sacramento.What a time I had ... the theme is Fun Never Grows Old . It was a day to laugh, enjoy the company I was with, eat good and bad things and do a lot of laughing. I felt like a kid reminiscing about rides in amazement parks that I had a life-time ago ridden and felt the thrills.Pictured to the left, I am hugging the golden California Bear which of course is on our CA flag.It's not cheap going to the Fair and I actually had to hit up the ATM booth for more cash and wondered how in the world families were able to attend.Never did see the fried coke but that's ok...don't think I would have given it a shot anyway. If you would like to know more about FRIED COKE watch the video provided by Chan... 08/24/2007

Midtown is the heartbeat of Sacramento. There is some fantastic  Real Estate here in the Downtown-Midtown area.  Midtown is located in the Sacramento Downtown area bordered by the American River on the north, Highway 50 on the south, the Sacramento River on the west and Business 80 on the east.If you are a home buyer wanting to live in an area with Victorian homes, Craftsman bungalows, cozy cottages and splattered about with new condos, modern lofts and contemporary townhomes with a cosmopolitan air about it, Midtown is the place for you. Midtown is draped with big beautiful canopy trees lining the wide boulevard streets and within walking distance to everything imaginable.Restaurants of every flavor, cafes, art studios, night life, parks and light rail are all within walking distance..... 08/22/2007

The streets are full of your irresponsible lending practices. When checking the MLS this evening and  pulling up homes built from 2004 till now in just Sacramento County, there were 182 homes listed as short sales. This figure doesn't account for those homes that have already been repossessed and are now owned by the Bank, nor does it account for the homes that you have sold when hiring an auction company. The figure only accounts for today's actively listed houses that are new and in short sale.The families that bought these homes bought them in good faith, thinking that they had a place to raise their families and begin wonderful memories. They are not bankers but trusted that no one would give them a loan if they weren't going to be able to pay for their homes. Boy, have you ever let... 08/21/2007

Back in the early stages of the nationwide and Sacramento real estate market correction (or, depending on your point of view:  "downturn", "collapse", or "debacle"), a few of the folks who read the bubble blogs chided me for being too bullish on the market.  At the time I argued with some success that I wasn't being bullish, I just wasn't joining them in the bubble-bear's picnic (much as I enjoyed the song of a similar name). What I did at the time, and what I still do, is publish the numbers.  When the numbers drop, I said they dropped (whereas a real dedicated bull would say they "adjusted"). Nevertheless, I suppose in some sense I always tried to overcome my innate pessimism by retaining a certain optimism about the state of the industry that does, after all, feed me. I must admit ho... 08/19/2007

http://client.imprev.net/10964/148874 08/17/2007

Ready for the corn dogs, cotton candy and the whirl of the ferris wheel? It's time for the California State Fair! Yes, every year right around Labor Day, Sacramento hosts the California State Fair at Cal Expo on Exposition Drive.I thought especially after all the "Sky is Falling" news with Real Estate, that this is great timing for all of us to unwind and have some fun.Go for the food and stay for the fun...we are never to old to enjoy the State Fair.In fact,this year the theme of the State Fair that opens August 17th and ends September 3rd at Cal Expo is "Fun Never Grows Old."So put away your cares, go enjoy yourself and have fun being young again at the State Fair in Sacramento.By the way, Huey Lewis and the News will be performing on August 21st.  If you want to save 40% on your tick... 08/17/2007

Unless you’ve been living in a cave the last few weeks I’m sure you’ve turned on the TV or opened the paper and heard dire reports of lenders and banks going out of business.  Why?  Over the past few years, with such a hot real estate market, lending guidelines became ridiculously liberal.  People with low credit scores, unverifiable income, no assets, and even bankruptcies and foreclosures on their credit reports could easily qualify for purchase loans all the way up to 100% of the home’s value.  Everything was fine as long as the housing market was appreciating, but the moment prices stagnated and then started to fall, loan defaults and foreclosures began to hit the market like wildfire.  Here are some ugly statistics to illustrate this point:    Nationally, foreclosures are up 200% f... 08/14/2007

Brent Wilson is a native Sacramentan who I have done business with for several years. I have found Brent to be a great listener which is vital in both Real Estate and the Mortgage Industry. By listening, to his clients Brent tailors each individual's loan needs. In this day and age where Banks and Mortgage companies are going out of business, the honorable and experienced will remain strong.  Brent provides an on-line loan application at Loans Done Right,  for your convenience as well as being very personable and good at what he does all day long...loans. I highly recommend Brent Wilson for all your mortgage needs. He is a man of character...take it away Brent and welcome to Sacramento Real Estate Voice.    It's that time of year to shelve the weak attempts at humor and write something ... 08/10/2007

Sacramento Real Estate Voice receives questions from readers asking for help. These Real Estate related questions come from Home Buyers and Sellers.  Got question...ask Gena.  Instead of Dear Abbey...we will have Ask Gena.  Just continue emailing me your questions, as you have been and I will post the answers on Sacramento Real Estate Voice.  Your names will not be shared, so don't worry.If you don't see your question, keep watching...I will eventually post all questions.  Remember, there may be other home buyers and sellers who have the same Real Estate question. All questions will be entertained and treated with respect. Any identifying information will not be viewed but changed, to keep your anonymity.Now, let's get started with our question of the week...If you would like to view th... 07/31/2007

Just this morning, I posted this entry on Sacramento area's stats and received, I believe the right response from most readers. I think a different mentality exists when you talk numbers than when you talk in words. Which I think is both bad and good. We all know of course that talking in numbers and showing numbers to someone who is wanting to list their home makes them think more objectively, but I wonder how much manipulation numbers can withstand before they become an outright lie, something that is very easily done in words. As an example, I was at one of those sites that show Sacramento area real estate stats and every other graph on the page was the big spike in inventory that took up the entire area of the graph with no reference points at all to any other time in history. Like ... 07/24/2007

That would be the Sacramento region!  According to statistics, this region has the most ethnically diverse population in the country.  It would be hard to dispute!  All one has to do is to venture into any one of our local shopping malls and you will see what I mean!  It is quite amazing to sit quietly and just listen to the passersby.  It's something that I do when I am waiting for my daughter to shop at some of her favorite mall stores - when I can tear myself away that is!  I am by no means a shy individual and I do not hesitate to smile and ask people what language they are speaking.  They are usually only too happy to respond.  In fact, it is somewhat comforting to them - and acceptance is something that we all strive for.  The last time that I was there, I counted over 23 differen... 07/11/2007

Why Sacramento? Sacramento appeals to diverse interests and those seeking a positive quality of life. While the climate can be warm in the summer months, there are plenty of outdoor activities to cool off. If you are seeking culture, history, recreation, sporting or a great region this is the place.   River, lakes parks, wine tasting, skiing, and gold country are all just a short drive away. If camping and outdoor living is not your cup of tea, then Sacramento also provides some great restaurants and social places.  07/10/2007

Sacramento CA, Real Estate lost The Towers...that would have changed our skyline and given us the tallest building on the West Coast. This would have had quite an impact on our Real Estate and notoriety. Real Estate in Sacramento, CA, in my opinion would have opened itself up to some great potential and opportunities which would have helped seal new business deals. John Saca and Cal PERS were partners in The Towers. Due to the decline in Real Estate, the increasing cost associated with building and possibly some poor choices on Saca's part, The Towers project failed. Cal PERS cut off funds to the project, bought out John Saca and will be working with a Southern CA developer, CIM Group on a much smaller scale for the hole in the ground at Capital Mall. This was quite a blow not only for ... 07/08/2007

I love escrow Mondays.  A lot of offers get done over the weekend, which creates escrow Mondays.I don't get as many of them as I used to, because I try to let my agents enjoy them, but I really love them.Today's an escrow Monday.   The buyer in this case got a great house in East Sacramento at about $50,000 under the comparable sales, so that's always fun.  Actually one of the nice things about working with buyers in this market is that they almost always getting good value, since the days of listing agents countering even full price offers are well behind us. So today I'll get the check to title and the purchase agreement to the lender and everyone.  It's rote work but at the same time it signifies something good has happened. Once that's done I can go back to playing Listing Whack A M... 07/02/2007

Mistakes are human. What's important is to correct those mistakes.Recently, while viewing Seller listings, it became apparent that Realtors are not checking their listings for corrections needed in MLS.When I list a house, I give a copy of the MLS sheet to the Sellers and I ask them to look it over and sign. I believe that every Seller should see their Listing. Not just the Home Buyer's copy, the Listing Agent's copy. Seller's need to see all the information. Check the commission split, check any security codes, zip codes, marketing detail...all of it.Do you show your Seller the Agent's copy of the Listing in MLS? Maybe if you show your Sellers the MLS listing you will also find time to proof what is in MLS prior to showing your Seller.We've all seen where the Listing Realtor has put th... 07/01/2007