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Attention Sacramento Rental Property Owners - Have you registered for the Rental Owners Expo?

Wed, 10 Mar 2010 18:13:16 -0600

If you are a Rental Property Owner in Sacramento... You don't want to miss the next Rental Owners Expo!

On March 27, 2010, the Rental Housing Association will be hosting the largest Sacramento Investor Expo (that I know about) at the Hilton Hotel in Sacramento.

Our own Todd Newington from First Priority Financial and Lori Mode from Keller Williams Realty will be presenting one of the many courses offered at the Sacramento Rental Owners Expo!

Here is our description of the class we will be teaching...

What to Know Before You Buy in the Sacramento Real Estate Market
Foreclosures and short sales offer great investment opportunities, but you need to understand the process and potential pitfalls. Learn how to evaluate a prospective rental investment and qualify for financing in the current tight lending market.

Check out this video snipit from last year's event:

Highlights of Rental Owners Expo:

• Choose from 11 seminars focusing on a wide range of investment, management and legal topics.

• Get sound advice from industry experts without any "get rich quick" hype.

• Includes luncheon with panel discussion on Successful Property Management in Today's Market

• Meet with vendors of products and services for rental properties.

• Network with other rental owners and property managers.

• Attend all or part of the one-day event, conveniently held on a Saturday.

• Learn about the benefits of membership in the Rental Housing Association.

• Chances to win dozens of prizes throughout the day.

• Get certified to comply with the Sacramento County Rental Housing Inspection Ordinance.

The Sacramento Rental Owners Expo is a good bank for your buck! If you are not a member... the price is $69 and includes 3 seminar classes, a sit down lunch with a guest panel, and an opportunity to win prizes!

Here is some pictures from last years event!

In order to register for the event you must complete the Sacramento Rental Owners Expo Registration form.

We hope to see you there!

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Speechless Sunday! Ok I give in! Spent the weekend hiking... It was lovely!

Sun, 07 Mar 2010 13:22:28 -0600

Did some hiking this weekend in the San Anselmo hills!

How nice it would be to live so close to so many great hikes!
Tons of dog people were out and mountain bikers scared the life out of me as they came plowing down the path. It was a peaceful time to reflect!

I need to get out more and walk our dogs! My sister walks her dogs up these hills twice a day!

I am ready for my work week and am excited about what I can accomplish!

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Check this out!... United States Unemployment Rates by County Since 2007...Scary!

Sat, 06 Mar 2010 20:24:35 -0600

I ran across this graph and wanted to share it with you!

It shows the progression of the unemployment rates per County since 2007 for the entire United States.

This just goes to show that the foreclosures in the Sacramento Real Estate Market are not just because folks got placed in bad home loans.

As more Sacramento Residents lose their job or increased furlough days... Stormy waters are still ahead for the Sacramento Real Estate Market.

Watch the video... It's shocking!

It is pretty scary! Check it out!

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What's going on with the Sacramento Real Estate Market? Get an update for the last 90 days!

Wed, 03 Mar 2010 12:35:57 -0600

If you have been watching the Sacramento Real Estate Market, you know we have been tthrough the ringer for the past 5 years or so! So where are we now?

After many years of really rough waters... it feels like the storm might be over. I don't believe that to be the case.

The Sacramento Real Estate Market, in my opinion, still has a couple of years before we cycle through our bank owned homes and short sales. By the time that happens... Many people who previously lost their home will be able to qualify for a new home again.

Stepping on my soap box now...

I personally think at some point mortgage guidelines will soften when the Government figures out Consumers who lost their home... Can help pull all of us out of the hole we are currently in.

I would bet that most people who have lost their home in this historic real estate collapse would want to buy today if they could.

Make guidelines in regards to income, assets, credit, down payment, and job history tougher... But at least give potential home buyers an opportunity to buy! I say shorten the period of time a Consumer has to wait before they can buy their next home.

Well... I will get off my soap box now!

Let's look at specifc Sacramento County Real Estate Market statistics as of this past week:

Median Price: $210,820
Most Expensive Listing: $ 4,495,000
Asking Price per Square Foot: $123
Average Days on Market: 113
Total Inventory: 6,389
Percent of Properties with Price Decrease: 28%
Percent Relisted (reset DOM): 9%
Percent Flip (price increased): 6%
New Listings: 565
Median Age: 30

Home prices in Sacramento County, CA have stayed relatively stable in recent weeks. I have broke down these numbers above, so you can see how each area within Sacramento is doing.

These graphs reflect the last 90 days and compare the current median price for single family homes to this time last year.

Warren buffet says that you should buy when everyone else is getting out.I think that is the point we are in the Sacramento Real Estate Market.

Be selective on what you buy and make sure it cash flows using conservative numbers. If you get a discount on the property today... You have built in a buffer for another drop in price.

Our home values in Sacramento have dropped by over HALF OR MORE in the last 5 years... But that doesn't mean they can't slip some more.

BUT... There is a demand for more homes in our area as Investors and First Time Home Buyers fight over the remaining inventory.

First Time Home Buyers can now but a home and have a mortgage payment that is equivalent to their rent. Investor can easily find cash flow homes in price ranges under $150,000 in a market that will most likely see a jump in appreciation in the next several years.

That is the Sacramento Real Estate Market as I see it today! Even though there may be a residual storms still brewing... I don't think it will be anything like what we have already gone through.

If you would like to be PRE-APPROVED for your next home or investment property purchase, please give us a call at (916) 687-6868 or send us an email! We would love the opportunity to help you navigate our Sacramento Real Estate Market!

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Popular zip code for Investors to get cash flow homes in Sacramento, CA. - A year in review

Wed, 30 Dec 2009 14:04:44 -0600

There are popular zip codes that our Investor clients are purchasing Sacramento cash flow homes in! I thought it might be interesting to do a series of blogs that would show what these investor friendly zip codes have done in 2009.

Keep in mind the goal of most of our investor clients is to purchase a Sacramento home and secure monthly cash flow.

One of these popular zip codes is 95823. It offers a low price point homes (as you can see below ) in the 115-130k range that cash flow.

This zip code located in the south Sacramento area and attendees down to the outskirts of North Laguna (Elk Grove area).

This is an area that we fequently visit during our Sacramento Real Estate Investor Boot Camps because the cost of the homes are in the target range to achieve cash flow and there are great niche neighborhoods if you know where to look.

According to Zilpy.comhere are the rental income numbers for 95823. Keep in mind these are not figures you should solely rely on. This website will give you a snapshot based on collection of data from all available sources (newspaper classifieds, online classifieds, apartment rentals, etc.) and Zilpy.com will filter the data based on your criteria (proximity, property type, crime rate, population, income, etc).

The lower price points, great niche areas, and rental income possilble above your typical mortage payment (with 25% down)... makes 95823 worth looking into!

Here are some statistics for 2009 for this zip code:

If you are interested in attending our next Sacramento Investor Boot Camp and Foreclosure Tour make sure to enlist at our website www.SacramentoInvestorBootCamp.com!

If you like the charts and graphs above and want to keep an eye this zip codes... sign up for our free reports sent right to your email!

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Invest in Sacramento Cash Flow Homes Series: Popular zip code for Investors to get cash flow 95828

Mon, 01 Mar 2010 23:33:35 -0600

As part of my series... Sacramento Cash Flow Homes... Today I am writing about another popular zipcode that Investors can find cash flow in our area... 95828!

This is the first time in years that Investors could get cash flow homes right here in Sacramento. The key is to find an area within Sacramento that offers purchase prices below $150,000 with rental amounts that will exceed the typical mortgage payment.

Keep in mind the goal of most of our Investor clients is to purchase a Sacramento home and secure monthly cash flow. So this blog is written with a long term rental property in mind.

Another popular zip code in Sacramento for cash flow is 95828.

It offers a low price point homes (as you can see below ) in the 95-150k range that cash flow.

This zip code located in the south Sacramento area neat the old Florin Mall and attendees down to the boarder of Elk Grove.

According to Rentometer.com here are the rental income numbers for 95828. Keep in mind these are not figures you should solely rely on. This website will give you a snapshot based on collection of data from all available sources (newspaper classifieds, online classifieds, apartment rentals, etc.) and Rentometer.com will filter the data based on your criteria (proximity, property type, crime rate, population, income, etc).

The lower price points, great niche areas, proximity to Elk Grove, and rental income possilble above your typical mortage payment (with 25% down)... makes 95828 worth looking into!

Here are some statistics for 2009 for this zip code:

If you are interested in attending our next Sacramento Investor Boot Camp and Foreclosure Tour make sure to enlist at our website www.SacramentoInvestorBootCamp.com!

Want to keep track of this zipcodes and other in Sacramento County? Sign-up for our free reports sent right to your email!

Check out another Sacramento Cash Flow Zip Code... 95823

If you would like to be pre-approved for your next Sacramento Investor mortgage... Please call us at (916) 687-6868!

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Calling all Sacramento Area Realtors! Join us for the Quantum Leap Event on March 17th... It may change your life!

Mon, 01 Mar 2010 22:11:07 -0600

Want to learn about useable models and road maps to help you build a life worth living?

Meet a Mega Agent who will demonstrate how to move forward in life and business with his highly effective energy and passion.

Ron's messages are delivered in a blunt yet caring style as he asks the questions that help people to think "BIG"!

He shows professionals in the Real Estate industry how to have a business and have a life outside of the business with family and to make a difference.

When: March 17th, 2010
8:00am - 5:00pm

Where:   Crest Theatre
              1013 K Street
              Sacramento, Ca. 95814

The cost is $99 for a full day event and proceeds will go to a local charity and to help the Children of Haiti!

Meet the Instructor... Ron Kubek

Ron Kubek entered the Real Estate business in 1985 where in 2 short years he rose to the #2 Realtor® in the Victoria Real Estate Board. His career continued to grow to the point of #1 sales person in Victoria from 1995-1997 and winner of many International Awards and recognitions. His career has continued to evolve to that of a currently successful Mega Agent with a great team of agents and he has added many different roles along the way. Ron is the founder of Keller Williams Realty Canada and still is a partner to this day. He has owned and still owns a Real Estate Sales
Brokerage Business.

Make sure to register ASAP... this event fills up fast! Call David at (916) 244-8447 to claim your seat!

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Sacramento Mortgage Modification Scams can now be reported at the new HUD website

Mon, 01 Mar 2010 15:04:21 -0600

Many residents in Sacramento and Elk Grove have tried in recent months to modify their mortgage with their lender.

When they are not able to get their mortgage modification approved themselves, Sacramento residents often turn to a "professional" who specializes in loan modifications.

Well... As we all know, during our historic real estate market in Sacramento, a lot of shady characters came out of the woodwork and took advantage of many helpless homeowners.

In fact, just last month we had someone contact us to get our advice. These poor people gave a local Mortgage Modification Company $5000 to get their loan modified. Unfortunately, the Consumer spoke very little English and did not do their due dilligence and they got ripped off!

Would you believe that the Mortgage Modifcation Company came back and are trying to get additional funds from the Consumer? The Sacramento Mortgage Modification Company is asking the Consumer to pay them rent now.... FOR THE HOUSE THEY STILL OWN! I just couldn't believe it!

I guess the Sacramento Mortgage Modification Company thought since the consumer took the bait before... They would try to milk more money out of them! It is just horrible that there are people like this in our world. I feel it is everyone's duty to report these issues so we can help prevent it from happening to someone else.

HUD announced Friday that they, along with the Loan Modification Scam Prevention Network, have created a new website for consumers to report these types of incidents.

If you know someone who is a victim of a loan modification scam... make sure to visit www.preventloanscams.org and report the incident!

I also wanted to remind you that it is against the law for ANY Mortgage Modification Company (even if they are lawyers) to collect ANYfunds upfront BEFORE they negotiate your loan modification.

Don't rely on their advice... PROTECT YOURSELF!

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50 Inexpensive Tips to Dramatically Increase the Value of Your Properties

Fri, 26 Feb 2010 15:32:20 -0600

I am not sure this will dramatically increase the value of your Sacramento home, but I think it is a great list of inexpensive small face-lifts you can do.

Via Tai DeSa (Significa Corporation):

50 Inexpensive Tips to Dramatically Increase the Value of Your Properties

By Tai A. DeSa, Significa Corporation

Professional landlords and investors involved in property flipping should constantly seek to improve their property value while keeping costs low. Below is a list of 50 tips that we shared with our property investment club (the Lehigh Valley Real Estate Investors Group).

Tip #1: Add a basic alarm system. The number one concern for any resident is security. If a homeowner or tenant does not feel secure, then eventually they will move elsewhere. Many security alarm providers have lucrative introductory offers for equipment and/or installation. If you provide an alarm system for your tenants, raise the rent and offer a "free security system." Or, have your tenants pay the monthly monitoring fee.

Tip #2: Install matching light fixtures and ceiling fans. Consider some track lighting with dimmers to highlight artwork or showcase a particular part of the room. Consider flex track lighting or suspended track lighting. The addition of a dimmer switch makes your lighting more versatile and is a great mood enhancer. Ceiling fans add value, and you may want to consider adding them in place of staid old light fixtures. If you don't want to replace existing ceiling fans, make sure you clean the dust off the blades and update the decorative pulls at the end of the chain.

Tip #3: Do some basic landscaping, particularly in the front yard. The front yard is the first thing that potential buyers see, so don't miss out on your chance to pique their interest. Prospective buyers and tenants make up their minds about your home as they walk the first 10 feet from their car to your front door. A junky yard will make them think that you've neglected maintenance. A pristine yard will reassure them that your home is well kept. Focus on a clean cut, straighten up the lawn edges, freshen the landscaping and add some color spots or striking shrubs for impact. Mulch is inexpensive, so use it. If your yard lacks interest, consider constructing a retaining wall. Use railroad ties, bricks, or stones to construct that wall. The landscape design should complement your home's style and colors.

Tip #4: Get a new front door, or give the existing one a facelift. Paint the front door a complementary but bold color. Choose a color that says, "Look at me!" Once you're finished painting the door, install a new doorknob that emphasizes sturdiness and class. Also install a new kick-plate that matches your lockset finish. Remember, while your prospective homebuyer or tenant is waiting for you or the real estate agent to let them in, they are observing your front door. If you have an old storm door, get rid of it. If you really feel the need for a storm door, install one of those with a lot of window space to highlight the bold color of your front door.

Tip #5: Install some blinds and window shades. Certain rooms could really use blinds or shades to emphasize style. The best places to start are the living room, kitchen, master bedroom, and master bathroom. These are the four rooms that prospective buyers and tenants will study most when evaluating your property. Pick window shades that complement existing furniture or your paint color. If you want to stick with inexpensive vinyl blinds, then make sure all the blinds in the room are a matching color. When showing a home during the day, you should always have your blinds and shades open to let in abundant light (unless you've got a clear view of the mess in your neighbor's backyard).

Tip #6: Get rid of photographs of people. You may love Aunt Matilda, but you don't need to have her portrait posted all over the home you're showing! Prospective buyers and tenants need to imagine themselves living in the home, not you and your family. If you are going to put up photos, display pictures of nature.

Tip #7: Clean off the tops of the water heater, furnace, oil tank, washing machines, and any other mechanical fixture. Most homeowners don't bother to do this at all. Clean the dust and grime off the top of your furnace, water heater, oil tank, washing machines, and so on. This makes these devices look newer, well-maintained, and clean. If you have a dirty-looking furnace, don't be surprised if your buyer demands a concession for a new furnace. Don't say I didn't warn you!

Tip #8: Make sure every light bulb in the house works. Always make sure that every light bulb in your home works. If the prospective homebuyer or tenant can't see your place, then you can't expect them to like your place. When people see lamps with one good bulb but three burned-out ones, they think that you don't maintain the residence and they worry about other deferred maintenance. Where it's safe, use higher wattage light bulbs in your lamps for a bright, warm atmosphere. Also consider slightly pink-tinted or full spectrum "natural" light bulbs to create a warm glow for your home. Don't forget about the bulbs in your basement and in your exterior lamps.

Tip #9: Place decorative flowers and candles throughout the home. Fake (or real if you can water them regularly) flowers work wonders. You can often buy fake flowers at yard sales or in the clearance section of stores. Candles give the home a romantic or warm feel. Scented candles are best. Some scents are so strong that homebuyers can smell them even when the candle isn't burning. Once you've sold or rented the home, pack the flowers and candles in a box and stage your next property.

Tip #10: Place magazines about luxury homes around the house. Magazines about elegant homes or sophisticated styles can put prospective homebuyers and tenants into the mood. When they see that bright, shiny issue on your nightstand or coffee table, they envision your property as the stylistic new home that they wish to live in. Grab some copies of Our House®, Elegant Homes, Beautiful Homes^TM, and Better Homes and Gardens^TM.

Tip #11: Refinish your hardwood floors. Most people like hardwood floors, particularly if the floor has a luster to it. If your hardwood floors are stained, you still may able to sand them and apply a darker finish that hides stains. If your hardwood floors don't need to be sanded but have dull spots or cracks, try some off-the-shelf refinishing agents or cleansers. Murphy's® Oil Soap or Rejuvenate polish are personal favorites to restore that classic wood look.

Tip #12: Get rid of clutter. Space sells. If you have clutter, don't stuff it in your closets, or your basement, or your garage. Throw it out or rent some storage space. Prospective buyers and tenants should not feel hemmed in because of all the boxes you have laying around or those old rickety chairs you can't seem to discard.

Tip #13: Shampoo your carpet. Yes, many people like new carpet for obvious reasons. However, we can't always afford to buy new carpet, for obvious reasons. Rent a carpet cleaning vacuum or hire a shampoo service. The proper detergent and equipment can get rid of old stains and make odors disappear.

Tip #14: Place air fresheners throughout the home. You'd be amazed at how easy this one is but how many people don't actually do it. Potpourri and air fresheners set the mood. People tend to associate fresh scents with cleanliness and purity. Be careful not to overdo it with the air fresheners, or people will think you're trying to hide an odor.

Tip #15: Powerwash the exterior of the home. Road dust builds up under overhangs and coverings. Mold, moss, or insects may accumulate on your siding. By powerwashing your place, you'll make your house that much more inviting from the street. Even though there's a For Sale sign in the front yard, be advised that many passersby will not call the phone number if the house looks dirty or old. If they do call the number, they may be looking to give you a lowball offer because they think you can't afford the upkeep.

Tip #16: Install brushed-nickel or brass switch plate and wall outlet covers in the master bedroom, the kitchen, and the dining room. Many places I've seen for sale or rent do not have matching switch plates and outlet covers. Some are ivory, some are brown, some are white, and most are dirty. New outlet covers and switch plates can cost anywhere from a few cents to several dollars. You may want to consider installing brushed-nickel or brass covers in your most heavily trafficked rooms. These covers give the room a look of elegance and style.

Tip #17: Replace those old, worn-out doorknobs. I've seen doorknobs that are over 80 years old and have been painted over several times. Ugh! Doorknobs can be some of the most dirty, bacteria-infested items in the house, and don't your prospective buyers know it! Replace those old doorknobs with new ones. If you have a brass theme in the room, go with brass. If it's brushed-nickel you like (and that's "in" nowadays), then go with that look.

Tip #18: If you have a paved driveway, reseal it. If your driveway is already paved but is cracked or otherwise in bad shape, repair it and/or use a driveway sealer. A sharp-looking driveway is the first thing a prospective buyer or tenant sees because that's what they're driving toward. Besides, the sealer prevents existing cracks from becoming worse.

Tip #19: Compile a full list of the warranties on the appliances and fixtures, and leave that list on the kitchen counter. If your home has been repaired in recent years, such as a new roof, or if you've replaced major appliances, be sure to have the receipts on hand to show interested buyers. Better yet, type up a list of the warranties and leave copies of that list on the kitchen counter. Many homebuyers need to feel secure that items in the house are in good working order. If your house is the only one with warranty information, these buyers may be more likely to make an offer (and a good one at that).

Tip #20: Run an air purifier to get rid of those lingering odors. You're used to the odors in your house, but trust me, no one else is. If a thorough cleaning and some well-placed potpourri don't do the trick, then it's time for an air purifier. I have an EcoQuest air purifier, and it eliminates the bacteria that can cause odors. There are less expensive purifiers on the market, so take your pick. A good place to run an air purifier is the basement.

Tip #21: Refinish your vinyl or tile floors. Clean your vinyl and tile floors. If that isn't enough, then it's time to find the right chemicals, solutions, or polymers to make those floors look like new. Tile floors may need new grout. Perhaps you need to replace a cracked tile (I should hope you bought one or two extra tiles way back when for just such a need). Regarding vinyl floors, I am a fan of Rejuvenate polish. You can use a flat mop to apply it, and it fills in cracks and shines the floor.

Tip #22: Spend a day looking at Open Houses held by property sellers. After observing what other people do with their homes, you'll view your property with a fresh perspective. Plus you'll get a feel for what the market values are in your neighborhood. Top athletes check out the competition. Top businesspersons check out the competition. You should too.

Tip #23: Oil your door hinges so they don't squeak. You may not notice the squeaking hinge because you've heard it so many times, but buyers will wonder what else needs maintenance. Oil those hinges. Also make sure that every door opens and shuts with ease. Sometimes doors get misaligned and they don't shut unless you apply lots of pressure.

Tip #24: Replace your doorbell if it is old or worn. One of the first things a prospective homebuyer notices is the doorbell. Is it old? Does it work? Does anyone in the house hear the bell? Imagine if you're home, waiting for a prospective homebuyer to stop by, and you can't hear them ringing the bell. Doorbells are inexpensive items, and a new one (at least a new button) will impress your visitors.

Tip #25: Clean, clean, clean. Once the potential buyer walks through your front door, they should be wowed by the cleanliness. A sparkling home just screams that it's been properly maintained. Even if you clean regularly, chances are, there are things you don't notice because you live there. Consider spending a couple hundred dollars and bring in the professionals for a thorough cleaning. With a window cleaning, your house will surprise you with a new look.

Tip #26: Modernize that kitchen. As the hub of family interaction, the kitchen is the heart of the home. Brighten the cabinets with a fresh coat of paint or some updated hardware. Add a new faucet or light fixtures to rejuvenate the space or change the window coverings for a more modern feel. Buyers are always interested in the kitchen, so try a quick facelift that will turn up the heat on your bottom line.

Tip #27: Brighten up rooms with new paint. This one is obvious but many people still don't do it (or do it properly). New paint may be one of the most effective dollar-for-dollar value enhancers. You can hire a professional or do it yourself. Choose neutral colors for most rooms, but don't be afraid to use a bold color (red? black? violet?) on a wall or two to create contrast or style. Just don't go crazy with the bold colors. Also consider painting the walls and trim complementary colors.

Tip #28: Give the master bedroom a bold and romantic look. People associate the master bedroom with romance, authority, comfort, and style. Give the people what they want! Buy some new bed sheets or throw pillows. Consider a new comforter. Set up candles and flowers. Get rid of junk. Don't leave any clothes laying around.

Tip #29: Add crown moulding. It is available in countless colors, widths, and styles - from simple to elegant; classic to contemporary. Moulding can give an ordinary looking room the special touch needed to make it really stand out.

Tip #30: Add landscape lights or a decorative street lamp. A classy street lamp gets attention, even during the daytime. Landscape lights can really establish security and elegance at the same time. I've seen prospective homebuyers view a home during the day, and then insist on coming back at night to see how the place looks. You don't have to overspend, but consider adding or updating your exterior lamps.

Tip #31: Install a new mailbox. Mailboxes can be relatively inexpensive. Install a new one so your prospective buyers and their prospective houseguests don't have to look at that dingy old thing on the front of the house.

Tip #32: Remove weeds from between concrete slabs and walkways. This is a sure sign of property neglect and a big turn off for potential buyers. Nowadays, you can buy weed-killing chemicals that destroy unwanted plant life in hours. Or you can try a solution of 20 percent bleach and 80 percent water.

Tip #33: Build a new garage or add a carport. Every homeowner knows the advantages afforded by a garage, and every prospective buyer will see a garage as a big plus. A new home garage is a great property enhancer that increases the market value of the home. Carports are a less expensive option. Many basic carports retail for $795 to $995. I've seen people fall in love with the interior of a home but fail to put in an offer because they complained about the lack of a garage.

Tip #34: Install an automatic garage door opener. Another fine way to increase property value is to install a garage door opener. Select a model with a multi-code garage door opener remote that routinely changes the code for additional security.

Tip #35: Enhance your porch or doorstep with pots or baskets of blooming annuals. This is an inviting and fragrant way to boost visual appeal and add eye popping color. You can find flower pots at dollar stores, and a bag of topsoil may cost only slightly more than a dollar. I like to keep flower pots at many of my properties for sale, and once they've sold I take the pots (flowers and all) and plant them on the doorstep of the next property I want to sell. A tip to keep the flower pots light is to place some empty water bottles in the base and cover them with soil. Sometimes the flowers won't need a lot of dirt, and the empty bottles create space but not added weight. Make sure you water the plants often enough, because dead plants will have the opposite effect of what you intend.

Tip #36: Give your old BBQ grill a makeover. Degrease it first, rinse well; repeat if necessary. Once totally clean and dry, refinish it using a bright fireproof/high-temperature paint. Select a color that complements your home's exterior look. Or try something fun that will really stand out, such as orange, yellow, or blue.

Tip #37: Install shutter and window box sets that match. Shutters and window boxes add charm and character to a home. Some people prefer to place fake flowers in the window boxes, while others prefer the real thing.

Tip #38: Install a skylight dome or roof skylight. People like natural light, especially light from above. Skylight installation also increases natural lighting in rooms; making them more inviting and cheerful.

Tip #39: Build a mini herb pantry. Many homes are sold based upon the setup of the kitchen. An herb pantry can be something as simple as a cubby hole built into the wall between studs. Or it may be a closet area converted into an herb pantry with a glass door.

Tip #40: Add something "green," like solar panels. Green is good these days (or any day). Many homebuyers need to feel like they are doing something good for the planet, while saving money at the same time. Solar panels are en vogue again. Consider installing some of them. Another green activity that enhances value is to add insulation where it's needed.

Tip #41: Empty out that cluttered basement. Many basements can be downright scary. You certainly don't want that impression. When selling your property, I suggest you empty out the basement as much as possible. Take your junk to the trash dump or place it in storage. Homebuyers need to sense that they have lots of open space (to store the junk they have in storage).

Tip #42: Trade in those old, leaky faucets for shiny new ones. We all know that kitchens and bathrooms can attract buyers, or repel them. The centerpiece of any kitchen or bathroom is the sink, and the centerpiece of any sink is the faucet. Replace them yourself or hire a handyman. You'll often find perfectly good faucets on the clearance shelf at home improvement stores.

Tip #43: Change the filter in your air conditioner. You want to avoid that musty, stale smell when it is operating. Whether it's a window air conditioner or a central air system with ductwork, change the filter.

Tip #44: Hang a large mirror in the living room. It creates virtual space and the illusion of greater size. Buyers and renters love open space. Give it to them!

Tip #45: Make sure the colors of your kitchen appliances match. A kitchen with a yellow refrigerator, a stainless steel range, and a white microwave may look okay to you, but it doesn't look right to buyers. Make sure you match the colors. This may not require purchasing all new appliances. Sometimes it's a matter of ordering the right color panels.

Tip #46: Hang new towel bars and toilet paper holders. Once you've replaced the bathroom faucet, you'll want to change the towel rack and toilet paper holder to match it. Always make sure that you have a roll of toilet paper on the holder. I suggest you hang a decorative towel on the bar too. That makes the bathroom look complete.

Tip #47: Run a dehumidifier. A perpetually damp basement or bathroom can be the breeding ground for mold, odors, and insects. Neither mold nor odor nor insect helps your cause. Run a dehumidifier to dry out the air and cut down on the musty smell.

Tip #48: Paint the fence or railings surrounding your home. A freshly painted fence creates a tremendous Wow! factor. Prospective homebuyers often observe the exterior of a property before even considering whether to view the interior. If your exterior is old and decrepit, then you simply won't have many showings. By repainting the fence, you may even inspire your neighbors to paint their fences and railings to keep up with you. Spray paint works well on metal or cast-iron railings. Be sure to use primer first.

Tip #49: Install new street numbers on the front of your home. When prospective buyers or tenants are driving around the neighborhood trying to find your address, their eyes will gravitate toward bright, shiny, new street numbers. I should hope that those shiny numbers are affixed to your house. It only costs a few dollars to buy new brass or brushed-nickel numbers to boldly identify the front of your property. This is money well spent.

Tip #50: Use throws in colors that match the room to cover up worn sofa and chair upholstery. You could attempt to buy all new furniture to spruce up a room in the place you want to sell or rent. Or if all new furniture is not in your budget, buy some throws and pillows to place on your furniture.

Thank you for taking the time to read our blog on how to increase the value of your properties. We hope that these tips will aid you in your property investment buying and selling. We at Significa are grateful to be aligned with people like you.

________________________________________________________________________________

About the Author: Tai A. DeSa is Chief Executive Officer of Significa Corporation, a professional real estate investment company based in Pennsylvania (www.significacorp.com and www.significadeals.com). DeSa is a graduate of The Wharton School at the University of Pennsylvania. Prior to entering the real estate investment business, he served as an officer in the U.S. Navy. He is the oldest in a family of 11 children and was valedictorian of his high school class. DeSa is also an Associate Broker with Keller Williams Real Estate (www.thetaidesateam.com). He is an organizer of the Lehigh Valley Real Estate Investors Group (www.lvrig.com) and an Area Director with Business Network International (www.bnidvr.com).

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How Often Should You Inspect Your Rental House?

Fri, 26 Feb 2010 14:26:54 -0600

Great advice from a local Sacramento property manager!

Via Robert Machado, CPM MPM Sacramento Area Property Manager and Property Management (HomePointe Property Management, CRMC):

It is my opinion that you should have a plan and be open to changing it as facts present themselves.

Upon move in of a new tenant you should inspect the property and photopraph or video tape the interior, exterior, and yard, front and back.

During the tenancy the occupant is entitled to quiet enjoyment of the home. In California, there are limited reasons that an owner can enter the property for. These include doing necessary and agreed upon repairs, appraisals and sales acitivity, and emergencies.

I do suggest that you get into your property at least annually do see how the house is holding up. Checking the roof, windows, bathrooms, drains, kitchen, smoke detectors, and getting into all rooms to check for leaks, should be included in your inspection.

I would also use vendors during the course of the year that can give me feedback when they enter the property to do requested repairs.

Note that in the Sacramento region, local governments require annual inspections in most areas. These must be documented and sometimes must include a government inspector's report.

I would also want to get inside if something comes up that makes me think it would be wise to get inside. A complaint of parties by a neighbor, evidence of an illegal pet, chronic late rent, or anything else that makes me suspicious.

In sum, plan on getting in annually, but be ready to go in when you get that bad feeling.
Robert A. Machado, CPM, MPM

HomePointe Property Management

Sacramento, Yolo, El Dorado, and Place Counties

We manage residential and commercial property.

916-429-1205 x 105

rmachado@HomePointe.com

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This Elk Grove Mortgage Gal has come to appreciate the new Good Faith Estimate... But it may not be why you think.

Wed, 24 Feb 2010 15:57:28 -0600

This Elk Grove Mortgage Gal has come to appreciate the new Good Faith Estimate 2010... But it may not be why you think!

My biggest beef with the the new Good Faith Estimate 2010? It's not an all inclusive document Borrowers can use to make a decision! That is what a Good Faith Estimate is supposed to do... right? One document a Borrower can reference to understand what type of loan they are getting... at what rate and payment... and for which terms. It should also show them what their down payment is, how much closing costs will be, how much credit they are getting from the Seller, and how much money they need to bring to the closing table.

Unfortunately the new version of this form has moved in the opposite direction of this goal... But it has benefited our business.

Here are two ways...

1. It forces Clients to look beyond rates and make a decision based on who they think will be honest and get the job done!
Our conversations at our initial meetings are going from clients drilling us about interest rates... to showing them why they need an expert who can help them navigate through this challenging real estate market. If not, they risk loosing their dream Sacramento home or investment property!

This has been our message since we started our Elk Grove Mortgage Business, but now that the there's real estate related news coverage almost every night... Clients are often sold before they ever get to our office.

2. I also love the fact that client's interest rate no longer has anything to do with our commission check!
Before the Good Faith Estimate 2010, we would mark up the interest rate and make what is called rebate. Now we make an upfront flat fee that has nothing to do with the Client's interest rate. Clients can choose to take the wholesale interest rate or mark up the interest rate in order to benefit from the rebate to pay for some of their closing costs.

I should mention, the paragraph above applies just to Mortgage Brokers. Mortgage Banks don't have to tell the Consumer if they are marking up the rate and earning rebate.

Some Clients don't take our advice when we tell them it's time to lock in their interest rate. They risk a change in their monthly mortgage payment and/or their ability to qualify for the loan by not locking in their interest rate.

The great thing is interest rates for Mortgage Brokers is no longer tied to the our paychecks! This means if the client thinks they know more than we do about interest rates and feels like gambling... We don't have to gamble with our paycheck.

Instead of complaining about what is wrong with the Good Faith Estimate 2010 form... I am trying to focus on what is good about this new change!

If you would like to schedule an interview with us, please call us at (916) 687-6868 to schedule an appointment!

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A silver lining from this mess of a real estate market?... Our Sacramento Mortgage Clients need us more than ever!

Wed, 24 Feb 2010 14:02:50 -0600

All of the changes we have been experiencing in the mortgage industry has created a convoluted process for Consumers and this Sacramento Mortgage Gal.

The steps it takes to close a real estate transaction in 2010 is littered with hurdles, rules, and red flags! As each responsible party "tries to help" the Consumer... It just makes it worse.

You've got to jump though this hoop to get the next hoop... Which leads you to a road block that you need to work through before you can get to the finish-line... If you are lucky! In the meantime the client feels like they have been beaten up through the process.

But, I realized last week, all this mess is a good thing for our business! You see... Consumers need us more than ever!

When is the last time you heard..."My Cousin does Sacramento mortgage loans on the side while he works for the State"? Not lately... let me tell you!

Think about it...

When Cousin Lou was doing loans, he made three phones calls to get interest rates and took a verbal Sacramento mortgage application over the phone. A credit report and an appraisal was all he needed before the loan could fund and record.

Lou didn't even need to understand mortgages!
If he was good at sales or had a lot of friends he could make a fortune in "side money"!

Now there are rules and regulations for everything! You've got RESPA disclosure requirements, HVCC rules, lender overlays, cranky underwriters, funding guidelines changes, and now escrow companies who have no idea how to provide you an estimated settlement statement so you know how much money your Borrowers need to come to the table with.

All these new rules and regulations are not really helping the Borrower. The paperwork is still confusing and no matter how hard you try and reform a process... Someone will always find a way to cheat and rip off Consumers.

This over-correction in mortgage related policies has caused so much chaos, Clients are forced to work with someone who knows what they are doing!

Our Clients need us more than ever to help them navigate through this process successfully.

I find myself looking for the silver lining in all this mess. I guess a have found it!

What do you think?

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Elk Grove REIA: Investors check out what you missed at this month's Sacramento investment club meeting

Thu, 18 Feb 2010 17:50:29 -0600

Elk Grove REIA was created so local Sacramento Investors could meet at least-monthly for mutual support, encouragement, stimulation and information to further their investment goals. Our main objective is to inspire the real estate entrepreneur to reach his or her own goals through the avenue of acquiring income producing real estate and related investments.

Here is a quick video it see what you missed...

Our next meeting is March 23rd starting at 7pm!

You can check out www.ElkGRoveREIA.com for more information about our Elk Grove Investment Club

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Is The FDIC Killing Indymac OneWest Bank Short Sales?

Tue, 16 Feb 2010 23:14:01 -0600

It is pretty scary that Indymac/OneWest Bank are making more money short selling homes and foreclosing rather than doing the right thing and doing a loan modification for people.

Here is the video mentioned in this blog below... http://www.thinkbigworksmall.com/mypage/tbws/

Via Robert G Hertzog (Summit Home Consultants):

Is The FDIC Killing Indymac OneWest Bank Short Sales?

As some of you may already know, I specialize in helping homeowners avoid foreclosure through the use of short sales. Recently, I dealt with a very interesting case involving Indymac/OneWest Bank, that I felt needed to be brought to the attention of all American taxpayers.

Basically, IndyMac Bank (now OneWest Bank), is holding one of my clients hostage, demanding a $75k promissory note, or they will proceed to foreclosure. For the life of me, I couldn't figure out why they were doing this. The BPO came in at the contract price of $275k, with a net to IndyMac of $241k. What advantage could there possibly be for them to proceed to foreclosure?

Yesterday, I figured it out. You see, IndyMac was taken over by the FDIC and sold to OneWest Bank in March/2009. Guess who the investors are behind OneWest? George Soros, Michael Dell, Steve Mnuchin (former Goldman Sachs executive), and John Paulson (hedge-fund billionaire).

Now, listen to the deal they got from the FDIC....

Basically, they purchased all current residential mortgages at 70% of par value (70% of the outstanding loan amounts). They purchased all current HELOCS at 58% of Par Value!!!

Next, in order to "sweeten the pot", the FDIC stepped in and guaranteed the following: For any residential mortgages where OneWest experiences a loss, the FDIC will step in and cover anywhere from 80%-95% of the loss. The loss is calculated using the ORIGINAL LOAN BALANCE, not the amount that OneWest paid for the loan. Let's use my clients actual situation as an example:

Loan Amount is $478,000, plus 6 months of missed payments, for a grand total of $485,200

OneWest pays $334,600 for the loan

We have an all cash offer of $241,000, net to OneWest.

So, let's do the math, shall we? The net loss, according to the FDIC formula is the ORIGINAL LOAN AMOUNT minus the amount of the offer. In this case, $485,200-$241,000, or $244,200. Next, the FDIC, according to their Loss Share Agreement, writes a check to OneWest for 80% of the so-called "net loss". So, in this case, OneWest gets a check from Uncle Sam for $195,360 (.80 X $244,200).

Add the $195,360 to the sales price of $241,000, and you get a grand total of $436,360. Remember, OneWest paid $334,600 for the loan. So, OneWest puts $101,760 in their pocket, thanks to the FDIC. Folks, that is over $100k of our hard-earned tax dollars!

So, you ask...Why does this program hurt short sales? Because, our brilliant government offers this SAME PROGRAM FOR FORECLOSURES! The only difference is, the government picks up 80% of the tab on all of the extra costs associated with a foreclosure (BPO's, upkeep, utilities/maintenance, legal fees, etc.)

So, If I'm OneWest, why would I want to waste my time negotiating through a Short Sale, when I can make the same amount of money (if not more) by just letting it go to foreclosure? And we wonder why nobody can get a Loan Modification? Why would OneWest approve a loan modification for this guy, when they can foreclose and make over $100k? And, to add injury to insult, they have held this loan for 6 months! Not a bad ROI, huh?

What infuriates me the most is that in my particular case mentioned above, they have the guts to hold my client hostage for a $75k promissory note, after they are already making more than $100k on the sale!!! This is his primary residence, 1st Position loan, and OneWest has NO RECOURSE! Imagine if they could make $100k, then get a deficiency judgement! Talk about making some big bucks!

Can you say "GREED"?

But wait, here's the best part... I sent letters to Senators John McCain and Jon Kyl, with a cc to the CEO of OneWest, explaining the current loss-share agreement, as well as including the FDIC worksheets, with the actual numbers in this case, showing them that OneWest was making a profit of over $100,000 on this deal, thanks to the FDIC. Within 24 hours, I received a response from the PR Firm representing OneWest, telling me that OneWest would dismiss the promissory note requirement, and the short sale was approved. We closed escrow 3 weeks later. My client not only avoided a $75,000 commitment, but also salvaged his credit by short-selling his home, versus handing it back to OneWest via foreclosure.

The scary thing is that over 50 banks have Shared Loss Agreements in place with the FDIC. Some of them include: Bank of America (go figure), CitiMortgage, Wells Fargo, etc.

This entire agreement between the FDIC and OneWest can be found here, on the FDIC website. It's all there, for the world to see! They have it all laid out. All of the formulas, worksheets, etc.

Now, it's up to us to bring it to the attention of our elected officials and the media. Enough is Enough!

Wait, it gets better...The FDIC just announced that they are "considering" borrowing money from the U.S. Treasury in order to replenish it's deposit insurance fund (the same fund being used to pay all of these banks in the Loss Share Agreements). Go Figure! Don't believe me? Click Here to read it.

Update 2/16/10: On a side note, many of you have sent emails, called, and/or commented on the recent video produced by TBWS. The day the video was released, I began receiving emails, calls, etc. from folks, asking me if I had anything to do with the video. While the numbers they quote in the video are the exact numbers in the blog post above, I had absolutely nothing to do with it's creation or production. Apparently, someone sent them the blog, and they produced the video with the information contained therein. While I'm happy that the video was able to get the story out to more people (which was my original intent in writing the blog), I must say that I was disappointed that TBWS made the conscious decision to not give credit to where they got the information, either in the "1st edition" that was released on 2/8/10, or the "revised edition" that came out on 2/16/10, in response to the FDIC Press Release. I commend them for squeezing in an acknowledgement on their 2/9/10 video, after I called Brian and reminded him of where all of their information came from. Despite numerous efforts to contact them, they have now chosen not to respond. To each his own, I suppose. Either way, please know that I had nothing to do with the video, and it was done without my knowledge.

Robert G. Hertzog

Phoenix Real Estate Consultant

www.foreclosureuturn.com

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Sacramento mortgage clients get the keys to their new home!

Sun, 14 Feb 2010 16:09:59 -0600

Our Sacramento mortgage clients received his keys last week for his first home!

Ben purchased a cute 3 bedroom/2bathroom Sacramento home that just needs a little elbow grease and some paint. It comes complete with hard wood floors, a man cave, and an air conditioned tool shed!

Lori Mode, Ben's Realtor, did a great job at picking the right neighborhood for Ben's price range. It was obvious that someone cared about the home at one point! Bravo!

It is an older location in South Sacramento, but most homes are beautifully maintained. The Neighborhood Watch is in full force in this area and has managed to stake their claim from other somewhat "shady" areas.

This is a great area for Investors to look for cash flow as well! Lori and Bruce showed us homes in this area during our Sacramento Investor Boot Camps!

I think back to when I bought my first home and I have to say that they got a great deal! I paid $73,000 for a fixer in Elk Grove back in 1996! Lori helped Ben find this home for $105,000! What a great deal!

I kept asking him... "Ben, Do you realize you own this home? It has really happened!". Ben was so excited he had already planned to have his friends join him for the first night at the new pad!

One thing I loved is when Mom said, "You worked on this file like it was a million dollar home!". I was surprised by that comment, because we apply the same effort for every mortgage we broker or fund. I am glad she feels they got Million Dollar Service!

As Bruce would say... That is what it is all about...Baby!

Did you know that you can buy a home in Sacramento like Ben's for around $8,000 to $9000 for down payment and closing costs (If you are using an FHA loan)? We can show you how to do it for less!

Did you know if you get into contract right away you can qualify for up to $8,000 "Government Bonus" in the form of a tax credit when you file your next tax return?

It's a good thing!

Our job is get you into a Sacramento or Elk Grove home you can afford and help you find the best loan program and interest rate . We ask that our clients provide us a complete loan file upfront. This way we know exactly what we are dealing with and what our game plan will be!

If you would like to set up an appointment to discuss your home buying game plan... Please give us a call at (916) 687-6868 so we can meet and start providing you "Million Dollar Service"!

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