Paula Swayne's Blog

THE END OF THE YELLOW BRICK ROAD...

noreply@blogger.com (Paula Swayne) — Tue, 09 Mar 2010 03:19:00 +0000

Last year I wrote a post about theYellow Brick Road at Fairytale Town in Land Park. The road greeted visitors in a joyful celebration of the community.
It is being "paved" in 3 stages, the final deadline for participants approaching. I was fortunate to be a part of the second phase. I chose to let the world know how much my granddaughters, Cailyn and Bailey mean to me!
The number of names I recognize on other bricks is remarkable - truly a neighborhood project!
So, if you have someone you would like to celebrate, it isn't too late...act quickly! Here is the link to Fairytale Town's Yellow Brick Road.

I KNOW THE BANKS CALL THE SHOTS BUT...

noreply@blogger.com (Paula Swayne) — Sat, 27 Feb 2010 07:25:00 +0000

I will be the first to admit that I don't do a lot of foreclosures...in fact, I am in the middle of my first one. No, I am NOT going to answer any questions on how in the world I have accomplished this remarkable feat! Being a rookie at this, but not uninformed, there have been few surprises. The bank shortened up the removal of all contingencies to 10 days (and we all know how well the banks do at moving things along in a timely manner). We had to promise that there would be world peace...okay, maybe not, but it felt like it!

Anyway, we have been hustling to get everything done in the 10 days we were allotted. My clients signed the final counter from the bank on the 19th, so we have until Monday to remove our contingencies....you would think! I received a call from the listing agents assistant explaining the error in my math. You see, the BANK signed the counter offer THEY wrote on the 16th, so add 10 days...and yep...the contingencies were suppose to be removed today. Now, some sane person may ask if we were in contract on the 16th and the reasonable answer would be no, since my clients hadn't agreed to their counter yet. The assistant kindly explained to me that the date that my clients agreed to and signed the counter really didn't matter. Hmmm....

This being the case, the next time I receive an offer on a property I have listed, I am just going to assume that the buyers have agreed to it and go forth and prosper!

THE LISTING DREAM TEAM

noreply@blogger.com (Paula Swayne) — Mon, 22 Feb 2010 05:39:00 +0000

You have decided to sell your home and are looking for that perfect Realtor that will create the perfect storm of a high price, a quick sale and a smooth escrow. Many agents will tout their ability to do exactly this combination.

However, the perfect listing Realtor does not act alone. A truly successful sales experience is a team...the combination of the efforts of the Realtor AND the homeowner. A united effort goes a long way to have a mutually positive experience.

The smart seller should select their Realtor with one main thought in mind...do you trust your Realtor? If you do, then this means you have done your homework, understand the qualifications of your Realtor and are convinced that this is the Realtor for you. Once this task has been accomplished, the rest is a breeze. You, as the seller, will TRUST that the Realtor is telling you what you need to do to your property to receive the best price. You will TRUST your Realtor that you are being told the right price for your home and you will TRUST your Realtor when you are advised regarding the offer and negotiations necessary for a successful sale.

Mutually, the Realtor needs to trust the seller. The Realtor must TRUST that the seller has made all necessary disclosures. The Realtor must TRUST that the seller will work in a timely manner to accomplish the needed tasks.
So, when you are searching for that perfect Realtor, make sure it is someone you TRUST and someone you can work with. After that, it really can be a positive experience.

LAND PARK COMMUNITY ASSOCIATION - LOTS HAPPENING!

noreply@blogger.com (Paula Swayne) — Thu, 18 Feb 2010 06:30:00 +0000

It is becoming very apparent why every Sacramento neighborhood needs advocates to maintain and improve their community in a thoughtful and intelligent way. Tonight the Land Park Community Association heldtheir February public meeting. Several upcoming challenges to the neighborhood were brought to the attention of the LPCA board and attending neighbors. Here is a highlight of just a few of the concerns expressed:

An organization entitled "SAFE" is advocating changes to be made to Freeport Boulevard to improve thesafety of bicyclists and pedestrians. They have asked that LPCA take a position in support of their cause. LPCA is working with them to address their concerns.

The Business Journal published that the Tower Theaterbuilding is now for sale. LPCA will be monitoring the progress of the sale and the buyers intended use for this historical landmark.
It appears that the city has funded the repair of the remaining lamp posts on Land Park Drive, which are in dire need of repair. This should be completed by the end of the year.

There is some question as to who has proposed expansion of the Sacramento Zoo. It appears to be either the City of Sacramento or the Zoological Society. In any case, the expansion is the old Zoo 2002 Plan reincarnated. This would expand the zoo to the land that presently houses the pony rides, the gardens and Funderland. It would also expand the golf course parking to a multi-level parking lot. There is more, and it would be premature to list the exact proposal. Let it be said that the reason that this organization was originally created was to fight this expansion (then known as the Association to Preserve Land Park) and we just might have to take up the wishes of the neighborhood again. Stay posted.

LPCA would love to have you be a part of the association! Please get on our website and join!

noreply@blogger.com (Paula Swayne) — Mon, 08 Feb 2010 20:54:00 +0000

We in Land Park are very fortunate to have the Regional Zoo right here in our neighborhood. They are wonderful neighbors and a real asset to our community. They are constantly offering events to promote the zoo, so I thought I would give you an update on the upcoming events you might want to take advantage of.

FEBRUARY
Regular hours begin, now open from 9AM to 4PM.
February 13th - Wildlife Stage Show - 11AM

MARCH
March 6th - Bloomin' Crazy Plant Fest from 9AM - 4PM
March 24th - Summer Camp (Members Only) Registration
March 29th through April 11th (daily) - Zoo P.I.'s Critter Caper - 11AM, Wildlife Stage Show 1:30PM April 13th through September 6th - Wildlife Stage Show Tuesday through Sunday 1:30PM

APRIL
April 3rd - Recycle Rummage Sale 9AM - 4PM
April 3rd - Earth Fest - Party for the Planet 9AM - 4PM
April 30th - ZooZoom 30th Annual Run/Walk 7AM-Noon

MAY
May 1st - California Celebration Multicultural Day and Wildlife Diversity 9AM-4PM
May 3, 10, 17th - Senior Tea and Tours 9:30AM -Noon
May 20th - Swingin' Safari Golf Tournament

JUNE
June 12th and 18th - Family Overnights
June 17th and 24th - Twilight Thursdays Open late until 8PM
June 26th - King of Feasts Food and Wine Fundraiser 5:30PM - 8:30PM (zoo closes early at 1:30PM)

JULY
July 1, 8, 15, 22, 29th - Twilight Thursdays Open late until 8PM
July 2, 10, 16, 31 - Family OvernightsJuly 24th - Ice Cram Safari All you can eat ice cream 4PM - 8PM (zoo closes early at 1:30PM)

AUGUST
August 7th and 13th - Family OvernightsAugust 12th - Member Evening 5:30 - 8:30

SEPTEMBER
September 10th through October 31st - Wildlife Stage Show 11AM
September 13th and 20th - Senior Tea and Tours -9:30AM - Noon

OCTOBER
October 2nd - Wild Affair Gala, Dinner and Auction 5PM - 10PM (zoo closes early at 1:30PM)October 18th - Senior Tea and Tours 9:30AM - Noon
October 30th and 31st - Boo at the Zoo 4:30 - 8PM (zoo closes early at 1:30PM)

NOVEMBER
November 1st - Winter Zoo hours begin 10AM - 4PM
November 6th through February 2011 - Animal Encounters 11AM
November 11th - Veteran's Family Day 50% discount admission with a valid military ID 10AM - 4PM
November TBA - Recycle Rummage Sale 10AM - 4PM
November 25th - Zoo closed - Happy Thanksgiving!

DECEMBER
December - Toys for Tots Bring one unwrapped new toy and receive a free child's admission
December 11th - Holiday Magic - Animal Enrichments 10AM - 4PM
December 24th - Pajama Party at the Zoo Free Day 10AM - 1:30PM (zoo closes early at 1:30PM)December 25th - Zoo closed - Merry Christmas!

RECOVERY IS A MISNOMER

noreply@blogger.com (Paula Swayne) — Tue, 19 Jan 2010 23:40:00 +0000

We are hearing the whispers "The housing market is recovering"! In our area, we believe this to be particularly true. Sacramento was one of the first to feel the meltdown, so naturally, we would be one of the first to see some hope of recovery.

Now the question becomes, what, exactly, does the word "recovery" mean? Evidently, the answer to this depends on your perspective and the amount of optimism you choose to insert into the equation.

Buyers see this as a possible loss of power. As the housing market grows in strength, it may be assumed that buyers will see a loss in their ability to negotiate a "deal". Many first time home buyers feel they have hit the mother lode with a combination of foreclosures and short sales, low interest rates and the federal tax credit. As the housing market begins to return to normalcy, the government will no longer see the need to stimulate the market or continue lower interest rates. There is a growing belief that the market has the ability to absorb the remaining foreclosures without the once-touted "wave". If ever there was a time to get off of the fence to take advantage of a great market, this is certainly it!

Sellers hear "recovery" and instantly assume this translates into their equity growing once again. While we certainly see an inventory that would appear to give sellers a stronger negotiating ability, this is not translating into an increase in equity. The "recovery" that is being bantered about is really more of the beginning of a stable market. Homes that are believed to be the "best house at the best price" are selling fairly quickly and at close to the asking price. Note, however, the words "best price". Sellers must be competitive in their pricing to appeal to the "deal" buyers are looking for. The result is equity being put into a holding pattern for the foreseeable future. While sellers can be relieved that they are no longer seeing their equity decrease, they should not look to the near future for equity gains.

Recently in discussing the possibility of putting their home on the market, the seller asked, "What if I wait a year...can I expect to get $100,000 more?" This question was raised on a $300,000 home. Simply put, it will many years before this home can see that kind of gain. The suggestion was to either sell now or rent the home for 5 years and then review the market value of the home.

When discussing "recovery" be certain that it is very clear what that word means. We got to this place in the housing market through years of "if you fog a mirror, we will give you money" loans. It will take us years to return to a normal market. The word "recovery" just may be a term that would better be replaced with "we are at the intersection and are starting the journey towards normalcy".

A FEW LESSONS FROM MY DOG...

noreply@blogger.com (Paula Swayne) — Mon, 11 Jan 2010 23:32:00 +0000

I heard this on Face the Nation. Bob Schieffer said he didn't know where it came from to give credit. Any way you look at it though, it is so worth remembering!

If dogs could give us a few life lessons, here is what some of them would be:

Always run to greet loved ones when they come home.

Never pass the opportunity to go for a joy ride.

Recognize the ecstasy of fresh air and wind in your face.

Take naps.

Stretch before rising.

Run, romp and play daily.

Thrive on attention and let people touch you.

Avoid biting when a simple growl will do.

On warm days, lie on your back in the grass. On hot days, drink lots of water and find the shade.

When you're happy, dance around and wag your entire body.

Enjoy long walks.

Be loyal.

Never pretend to be something you're not.

If what you want is buried, dig deep until you find it.

And, when someone is having a bad day, be silent, sit close by and nuzzle them gently.

Now, make your week a great one...it's the only second week of January 2010 that you will ever have!

EXCITING HAPPENINGS AT LAND PARK'S SACRAMENTO ZOO!

noreply@blogger.com (Paula Swayne) — Sat, 09 Jan 2010 02:33:00 +0000

Amber is pregnant! Now, you might wonder who Amber is and why this is such a monumental occasion. Amber is a Giant Anteater and her little bundle of joy will be the first anteater to be born at the Sacramento Zoo. Look for the birth announcement coming in early April. If you want to learn more about Amber and her little one, click on Sacramento Zoo's Amber.

The giraffe's at the Sacramento Zoo have always had a barn of sorts and enough land to wander, but it was nothing special. Well, all that has changed with the opening of the Tall Wonders Giraffe exhibit. Not only do the giraffes have a cutting edge new home, but now visitors can view them at eye level with the addition of a viewing deck. The giraffes are already enjoying their new home, but the grand opening won't be until February 12th. Now, it just doesn't get any cooler than that!

If you have enjoyed our little Sacramento Zoo enclave, you have missed one of the very special experiences of the region. Take a weekend day and meander the regions of the world in an hour or two!

noreply@blogger.com (Paula Swayne) — Fri, 08 Jan 2010 01:50:00 +0000

Land Park is nestled just south of downtown Sacramento. It boasts a very active neighborhood association -Land Park Community Association - that has gone through some significant changes, including a board of 15, of which only 3 were returnees. It was a sign of the hope the neighborhood had to be better represented. I am very proud to list the successes we had in 2009.

The most significant change was a board that worked together. While we had differing opinions, we were willing to discuss, compromise and come to a mutual understanding. We showed respect for each other and have been very deliberate in our representation of the community.

Our ongoing events resulted in great attendance, even though both the Taste of Land Park and the Picnic in the Park as held in sweltering heat.

We brought to the neighborhood a new event - the Picnic in the Park. It was free to the community as a thank you for all of the support they have given to LPCA.

We changed the bylaws, the most significant change being the inclusion of the local businesses in the membership. To this date, the local businesses were asked to donate to our events, but were not allowed to be members. It was an inexcusable stance which we were thrilled to eliminate. We hope to include our local businesses in many of our debates and decisions.

We are working hard to make up for a loss in maintenance in William Land Park. We are spending a significant amount of money to reinstate the Rock Garden to it's former glory. The bureaucracy is continuing to put up road blocks, so this is still a work in progress.

We have worked diligently to encourage the development of Curtis Park Village, while voicing our concerns regarding a few of the issues.

Probably one of most successful new programs is Listserv, which is real time reports from our neighbors regarding crime in the neighborhood. It has resulted in phenomenal and immediate communication resulting in arrests and preventative measures. It has been extremely popular with many neighbors joining LPCA just to be able to subscribe to this benefit.

The coming year promises to bring more changes and additions. We hope to continue to be of value to our neighborhood...stay posted!

A DAY IN THE LIFE OF A REALTOR

noreply@blogger.com (Paula Swayne) — Thu, 07 Jan 2010 04:18:00 +0000

I always have to giggle just a little when people tell me that they are considering going into real estate because they "love looking at houses". If only that is all we do...or even a majority of what we do! So, to give some perspective, I thought I would share what a normal day for a Realtor can look like.

Hurry...get ready for work! I can't be late today because it is the office meeting and tour! Hurry..hurry!

Whew...got to the office just in time to check e-mails before the meeting starts! For 30 minutes or so, I learn about the latest law changes, educational opportunities offered by the office and the real estate association and the features of the new listings our office got this week...some really cool stuff!

Off we go...the whole office leaves, en mass, to tour our new office listings! We are very PC - carpooling to economize on gas! Between homes we evaluate the features of the home and how they relate to the value. And, of course, how our weekend was, what our families did and so on.

It is amazing how many messages a Realtor can get just in the hour or two we are gone touring homes! How do those callers know when we are gone? I also check e-mails.

An agent comes in and says "Check out this! Google Whitepages.com and put in your name. It tells people way more than you want out there!" I did and it does! I immediately select an option that eliminates me from their site. That was scary! They listed my home address, my age and my family's names and ages...really scary!

Lunch break...my very favorite time of day! I get to eat and socialize a bit!

I get a call while I am at lunch...a client spotted their perfect house and wants to go see it! I look up the property, call to arrange the showing, call the client back and off I go!

Well, it wasn't the perfect house after all. Oh well, we'll just keep looking! Maybe we need to consider another neighborhood.

I promised myself I would work on my farm today. I hand address 250 envelopes (I am a big believer in humanizing things). I want to be sure to give my farm something of value, and I think a graph showing how 2009 fared in our neighborhood would be interesting. I'll have to work on that tomorrow, since I have too many other things I want to get done today.

I am covering for another agent, so I have to go through her file to be certain all of the disclosures are signed...nope! I e-mail the sellers agent to let her know what is stilll needed in the file. I also call the title company in hopes that they might have some of the documents..yea! They do!

I have to call a buyer to be sure that they put the utilities in their name, since the property recorded today.

A client calls to ask for a list of the costs he incurred preparing the house for sale and doing the requested repairs. Here's a tough one...the actual seller isn't asking...her brother, who is inheriting some of the money, is. Hmm....talk about being in the middle of it! I hate it when this happens! I call the seller and ask her what she wants me to do and we work it out.

I arrange for locks to be changed and meet the locksmith at a property.

One of our agents has a lender who is requiring a second bid for a roof certification. She asks for some names. I recommend one that ends up being half the cost of the other! Yea! I love it when that happens!

I work on finding a cheaper "fax-to-e-mail" company...not too much luck.

I get a call from a family who is having some issues and needs to know what their home value is. They aren't going to sell it - they just need help. I arrange to see them on Saturday.

An old friend comes by with an idea for a new enterprise for Realtors and wants my opinion. It might be a good idea for some venues, but I can't see Realtors using it.

Now it is past 5, the secretary has left and I am still at the office. Time to go, pick up what-ever-in-the-heck I am going to fix for dinner and get home to feed the dogs.

Aahhh...a day in the life of a Realtor!

IS YOUR HOUSE ECRU?

noreply@blogger.com (Paula Swayne) — Sat, 19 Dec 2009 15:04:00 +0000

Don't get me wrong...it's a fine color. It's what I painted my first two houses I owned 30 years ago. You can put just about any other color with it and it goes with everything. It is a safe color that will not offend your visitors. Guests will not dislike your for your taste in decorating or see a side of you that they didn't know about.
Then one day it hit me...people didn't know me. My own house was not a reflection of me but a reflection of no one. After all, who was living in my house? Who spent most of their time in my house? Me! So why wasn't I decorating for me? So, what color is my house now? Flame yellow, mist green, doeskin brown, slate blue, red and periwinkle. It's me and if my guests don't like it, then they don't have to come to my house.

Do you approach your blogging posts the same way? Do you prefer to not write at all rather than let someone know what you are about? Do you write safe posts that don't risk an offense? Or do you take the bumpy road of letting people know where you stand? Do you comment when you don't agree with a post? Do you let people get to know you?
I say, take a risk! The rewards you receive are bountiful. You may not have as many followers, but the ones you have are people who enjoy you and look forward to your next "get together". Have fun! Post away!

LAND PARK PACIFIC LITTLE LEAGUE REGISTRATION...IT'S NOT TOO LATE!

noreply@blogger.com (Paula Swayne) — Sat, 12 Dec 2009 15:50:00 +0000

Aahhh, baseball...the roar of the crowd, the anticipation of the first pitch and the thrill of the crack of thebat! All of this can be experienced in Sacramento's William Land Park and Dooley Field in the spring of 2010! From the excitement of the 5 year olds donning their first uniform to the budding athletic talent of a 14 year old, now is the time to register...it's not too late!

You can register your child on-line by clicking Land Park Pacific Little League . Register now and have a great baseball season!

WHEN IT COMES TO FRAUD, WHO ARE YOU PROTECTING?

noreply@blogger.com (Paula Swayne) — Sat, 05 Dec 2009 16:43:00 +0000

I was at a luncheon the other day when a Realtor shared her story of a short sale listing she has. It had received multiple offers and one of the buyers agents had offered to pay her seller $5000 if her seller would take their offer (of course, AFTER close of escrow). She had told the story because she was surprised that in this day of regulation upon regulation, someone would still think it was okay to offer this.

However, when we asked her what she did, her response surprised me. Now, I can think of a multitude of answers to this buyers agent (notice I did not use the term "Realtor").

1. Fine, as long as it is on the HUD statement and so, transparent. (We all know this wouldn't happen!)

2. While I am sure my seller could use the extra $5000, this is fraud and I will not recommend to my seller that they proceed with your offer.

3. I am not willing to risk my license in order to sell a house...and believe me, it can happen.

4. Speaking to the seller..."If you do this, and the lender finds out, you could be in serious financial jeopardy."

She told us that she was concerned that she primarily represent her seller's interest, which would be to take the $5000. However, understanding that this was fraud and her seller would be at risk, she would let her know about fraud and then let the seller decide. She said she didn't want to appear to be the expert in this situation.

I just couldn't restrain myself. I told her that she IS the expert in this situation. Her seller hired her for her expertise and was expecting her to guide her through the short sale process. Of course you tell her that this is fraud and that you will have nothing to do with it. Not only does it put the seller in jeopardy, but it puts the agents license in jeopardy as well.

I wouldn't hesitate to put my own livelihood before knowingly committing fraud. But then, that's just me!

noreply@blogger.com (Paula Swayne) — Wed, 25 Nov 2009 00:17:00 +0000

I am very excited that MetroList (our local MLS) now provides wonderful reports to help us better understand what is happening in our local market. Land Park and Curtis Park are two of the neighborhoods I specialize in so I thought I would share the information from MetroList for your perusal. Enjoy!

COME OUT, COME OUT, SHADOW INVENTORY!

noreply@blogger.com (Paula Swayne) — Wed, 11 Nov 2009 00:11:00 +0000

April 8th, 2009Carolyn Said, Chronicle Staff Writer"A vast "shadow inventory" of foreclosed homes that banks are holding off the market could wreak havoc with the already battered real estate sector, industry observers say.""We believe that there are in the neighborhood of 600,000 properties nationwidethat banks have repossessed but not put on the market, "said Rick Sharga, vice president of RealtyTrac."

May 19th, 2009Blog posted by Peter Coy"A new survey from Zillow.com confirms what I've been saying for months: There is a huge amount of "shadow inventory"in the housing market. Except the shadow is even bigger than I imagined." According to Zillow's VP for data and analytics, Stan Humphries, "Almost one-third of homeowners (31%) said they would be at least somewhat likely to put their homes on the market in the next 12 months if they saw signs of a recovering real estate market...We here at Zillow expect to see a long, drawn-out bottom, with any upward bumps in value tempered by new inventory coming into the market."

July 21st, 2009Real estate news and analysis from the Wall Street Journal"...there are some signs that banks may be delaying foreclosures, either because they're overwhelmed with a glut of delinquent loans or because they're strategically holding off on over saturating the market. That so-called "shadow inventory" could lead to an uptick in foreclosure listings later this year."

August 2nd, 2009by CalculatedRisk, lifted from the comments on Corus: "Too toxic to fail" by Rob Dawg"On shadow inventory from Reuters: "Shadow" inventory lurks over U.S. housing recovery[A] massive supply of unsold homesis waiting in the wings and could easily swamp the recovery before it can gather speed. The number of homes listed officially on the market, while still at historically high levels, might be only the tip of the iceberg: said Stan Humphries, chief economist at real estate website Zillow.com in Seattle, Washington."

September 30th, 2009Quoted from Henry Blodget, CEO and Editor-in-Chief of The Business Insider"Amherst Securities has produced a scary analysis of this "shadow inventory" overhang, which Amherst estimates is a shocking 7 million houses (The consensus is only 2-3 million). 7 million houses represents 1.4 times the number of houses currently sold in the country each year. So this represents a massive overhang. As these houses hit the market in future years, they will keep pressure on house prices. This will likely either lead to further declines in prices or delay the recovery."

October 13th, 2009from Homefront by Jim Wasserman and Dale Kasler"There is no massive shadow inventoryof bank-owned repos - and banks aren't intentionally holding them off the market. So says Foreclosure Radar's Sean O'toole."

October 15th, 2009Written by Eric Wolff"There is no shadow inventory; there is no bank conspiracy; there are not houses waiting like vine-ripened tomatoes for the moment to be plucked, says a recent report from ForeclosureRadar, a prominent data-tracking firm."

I offer these quotes from various sites to show the progression of the "shadow inventory" issue. What I found fascinating is the wide variance of opinion. Experts in the field can't agree, any more than the numbers that support their opinion. It seems to me, if they have been predicting this "glut" of homes to come on the market since (at the very least) the beginning of the year, and it hasn't happened, it might be time to question the reality of "shadow inventory". Interpret it as over-reaction, misinterpretation or simply wrong, the "shadow inventory" has yet to appear. Contrary to popular opinion and strange as it may be, we in Sacramento have more demand for foreclosures than we have foreclosures to sell. It is common to have many multiples of offers on each foreclosure. Foreclosure buyers have become accustom to the rejection of their offer - even when it offers over asking price. I, for one, do believe in fairy tales...and maybe this is one of them!

SOLD QUICKLY AT FULL PRICE...DARN IT!

noreply@blogger.com (Paula Swayne) — Sat, 07 Nov 2009 19:29:00 +0000

When setting a listing price for a home, accurate information and evaluation of that information is critical. The nuances of the neighborhood, knowledge of the comparable properties, current issues facing homeowners and buyers all come into play when setting a market value of a property. Realtors carry on a thorough discussion with their sellers, explaining all of the factors that affect their home's value. The discussion can take the tact of why the property is worth more than the sellers thought, but more often than not, the Realtor is explaining why it isn't valued at the same amount that the sellers thought. Of course, there is an emotional tie for the sellers...fond memories and endearing features of the property that add value for the present homeowners, but are simply a perk for a buyer. So, after long deliberation, the Realtor and property owners come to agreement on an acceptable listing price.

However, does the Realtor have the same discussion on the seller's expectations after the property goes on the market? For the Realtor, an ideal situation would be the property selling in a reasonable amount of time at very close to asking price. From a seller's perspective, receiving an offer too quickly and at asking price translates into not asking enough for the property. When the property is listed, it is critical to include this conversation. If we do our evaluation correctly, and market the home properly, the property should sell quickly and close to, if not at, asking price. The sellers should not be surprised by an early offer - rather they should congratulate themselves for hiring a Realtor that was professional, knowledgeable and thorough enough to do exactly what the sellers required of them.

SACTO-AN AMAZING SACRAMENTO ASSET!

noreply@blogger.com (Paula Swayne) — Fri, 06 Nov 2009 00:02:00 +0000

Even if you are local, you may have heard of SACTO, but not had a clue what they do. Today, the Sacramento Association of Realtors hosted our Finance Forum in which Barbara Hayes from SACTO spoke. She gave us a truly "meat and potatoes" picture of the purpose and success of this organization.

SACTO is an acronym for Sacramento Area Commerce and Trade Organization. Their sole purpose is to bring jobs to the Sacramento area. They are non-profit, non-political in nature and were created out of the

Metro Chamber years ago. They work with the local 26 governments that make up the Sacramento area. How do they stay out of politics, but work with governments? They receive feedback from companies either in the area or contemplating coming to the area. They then provide this feedback to the appropriate governance's. Last year, they were responsible for bringing 1000 jobs to the area.

In a time when there is a definite shortage of jobs, SACTO is busier than they have been in the past 5 years. The "incubation" time from the beginning of talks to actual job realization is about 12 to 18 months, so we should be looking forward to some good times in the relatively near future.

It may be surprising to learn that about 50% of the potential jobs being considered in Sacramento are involved in "clean or green" technology. Nationally, California is viewed as the mecca of green technology and Sacramento, supplying access to policy makers, give Sacramento (both locally and statewide) a strong appeal. We are an appealing location due to several factors: Sacramento's climate is ideal (other states such as Arizona and Nevada are too hot) and our former military bases generate incentives to use their locations. The very thing that has stagnated our economy in this area is also a great asset...the potential work force. Our educational institutions also give us a benefit. University of California at Davis has a globally known expert in wind power. California State University in Sacramento is known for it's "smart" technology, developing smart grid technology opportunities with a 127M dollar grant (the second largest grant in this field). The Los Rios community colleges are committed to developing grad students into green force experts. Sacramento is winning more companies than anywhere else in California.

Our second largest job force is in consumer goods. There are several factors contributing to this fact. At one time, companies were relocating to states such as Arizona, Utah, etc. However, when oil prices went up, the cost of shipping exceeded the benefits of going to those states. Also, a state with 38M people is hard to overlook globally. Succinctly put, we are too large to fail. According to Time Magazine, California will chart the course for the future. According to the magazine, California is the center of innovation and talent.

Locally, Sacramento has a plethora of benefits to offer potential employers. The very fact that our property values have gone down has provided for affordable housing. The

Sacramento International Airport supplies an easy supply line. Our mild climate (a 75 degree average high and a 50 degree average low) reduces cost to companies concerned about high heating and air conditioning costs. Sacramento claims the highest number of intersecting major highways and freeways in the country (Interstates 5, 80 and Highways 50 and 99). This makes transporting of goods cost effective. Our health industry is thriving with UC Davis, the Sutter Health, Mercy and Kaiser. We offer recreation of every sort within 2 hours of Sacramento - skiing (water and snow) snorkeling, biking, running, baseball, soccer, boccie ball...just name it and it is here! One company that came to town discovered windsurfing..and that clinched the deal! We have the highest performing students statewide.

Nestle is presently committed to a 10M dollar investment in Sacramento. By the end of the year, they will have spent 3.5M of that commitment. 70% of the workforce are local contractors. A solar manufacturer from Asia (yet to be announced) will be investing initially in a 150,000 square foot building to be expanded to 300,000 square feet. They will employ 200 people. We are seeing increased interest in China due to their growing wealth.

We have a beautiful and vibrant city...and it is nice to know that others are realizing what

Sacramento has to offer!

BETTY WHITE, SACRAMENTO ZOO & LAND PARK...WHAT DO THEY HAVE IN COMMON?

noreply@blogger.com (Paula Swayne) — Wed, 04 Nov 2009 01:30:00 +0000

Many of us remember Betty White as the conniving Sue Ann Nivens in the Mary Tyler Moore Show or the ditzy Rose Nylund on the Golden Girls. However, in the world of philanthropy and worthwhile causes, she is a caring supporter of pets rights.
So, how excited do you think Sacramentans are that Betty White will be coming to the Sacramento Zoo in Land Park to do a presentation at the new "Tall Wonders Giraffe Exhibit Renovation and Expansion Project? Act quickly, because this Thursday, the 5th of November will be the day! Arrive at 4:30PM to enjoy hors d'oeuvres and cocktails and appreciate all that this regional zoo has to offer! To learn more about this event, call(916) 808-8376.

SACRAMENT'S CURTIS PARK VILLAGE...BUILD IT AND THEY WILL COME!

noreply@blogger.com (Paula Swayne) — Wed, 28 Oct 2009 04:29:00 +0000

As the time grows closer for a vote at the Sacramento City Council, there is an escalating fervor regardingthe Petrovich development known as Curtis Park Village. The chasm between the fans of this development and the critics is growing as well. Much of the chatter is really a result of misinformation (intentional or accidental is another topic).
Probably the biggest hotbed is the toxic issue within the site. When originally tested by the city, Petrovich was told that there was 80,000 cubic yards of toxic soil. After 2000 railroad cars were loaded up with said soil and sent to Utah, it was thought to be clean. However, upon subsequent testing, at total of 240,000 cubic yards was found...a substantial increase in costs, considering the expenditure so far just for clean up has already totaled 14M dollars! At this point, you would think that Petrovich would have thrown his hands up and abandoned the project. He didn't. He researched and found the accepted practice of digging a very deep hole (50'), lining it and filling it with the toxic soil. Finally, a toxic proof barrier is put over it, it is sealed and clean soil is put on top. This has been done over 200 times without a flaw. A park will be placed in this section of the development - all other residential areas will have clean dirt.
The other misconception is the amount of traffic this development will incur. The traffic study shows that with the exception of Sutterville Road, this plan will have zero impact or will improve the flow. Bus lines will be rerouted from 24th Street to the main thoroughfare (Curtis Park Village Drive) of the development. There will be ingress and egress at 5th Avenue, 10th Avenue and Donner Way. In a grading system of A to F, all inner street will have a grade of A and a couple of B's. Sutterville Road already has an F, so admittedly it will make a bad situation worse.
Another rumor being discussed is that "big box" stores will lease the space. Stores such as WalMart, Home Depot and Target require anywhere from 12 to 16 acres of space. With a total of 72 acres, much of it residential and the park, and the plan calling for smaller individual commercial and retail structures, the "big box" store simply does not have a place in this development.
The ultimate cost of this development will be 225M dollars. It will create 2000 temporary jobs and 550 permanent jobs. It will provide an already dramatically under serviced neighborhood with more retail and service options. It will provide for 7.2M dollars in annual tax revenue.
Curtis Park Village will encompass 72 acres of infill. It will have 184 single family homes, 248 multi family housing units, 89,000 square feet of restaurants and entertainment, 16,000 square feet of small commercial space, 90 affordable housing units and a 154,000 square feet of commercial space. 2400 trees will be planted and old growth oaks will be preserved. Residential lots will be from 100 to 160 feet deep and 50 to 60 feet wide.
Mr. Petrovich has participated in over 150 public forums for input and suggestions. He has made over 36 changes to the plan at the suggestion of the neighbors. In my humble opinion, this is an admirable plan that needs the support of this city and it's citizens. Build it, and they will come!

SACRAMENTO HALLOWEEN EVENTS!

noreply@blogger.com (Paula Swayne) — Tue, 27 Oct 2009 05:43:00 +0000

If you are ready for a little scare or a piercing scream, then here are some places to visit on Halloween:
West Sacramento:Visit IKEA from 5 to 7 to trick or treat at plenty of scary house venues!
Scandia Fun Center(5070 Hillsdale Lane):Enjoy the "Scream Extreme"! Tickets are $18 for a "Wicket" ticket and $14 for general admission. You can go as a group for $11 and children are $7.
Sacramento Zoo's Boo at the Zoo:Trick or treat at the zoo, enjoy crafts in front of the Reptile House, have animal encounters and have fun with a costume parade and entertainment! Tickets are $9 for children 3 and older and $5 for members 3 and older. Enjoy the festivities from 4:30 to 8PM!

ESCROW COMPANY LOSES CASHIERS CHECK

noreply@blogger.com (Paula Swayne) — Sat, 24 Oct 2009 04:58:00 +0000

Now, we have all heard some crazy stuff these days - one of the latest around here is the lender who required the borrower to place flood insurance on the property before funding, then decided to not proceed with the loan. The borrower's insurance won't cancel the policy, so now the borrower owns flood insurance on a house she doesn't own.
But...I have another that we can learn from. I walked into our office this morning to join in on a conversation between one of our agents, his buyer and or manager. There was a problem. The title company lost the $50,000 cashiers check. They had sent a courier to pick up the check and some documents from our office, which was done. The escrow officer sent an e-mail saying that she had received the buyers funds and they were set to record...which they did. THEN they discovered they were short $50,000. They claim they never got it - despite the e-mail which said they did. The bank who issued the cashiers check said they will not reissue it for 90 days. It appears, at the moment, the buyer is between a rock and a hard place. The lesson?....always deliver the check personally and get a receipt!

SACRAMENTO'S BIG BUILD

noreply@blogger.com (Paula Swayne) — Wed, 21 Oct 2009 05:42:00 +0000

Sacramento's skies have always been busy. In past years, air force bases ruled as well as the Executive Airport. While we no longer enjoy sonic booms and military jets screaming across the skies, we do lay claim to the Sacramento International Airport. As with all airports, they easily get outdated and Sacramento's airport is no exception. The most recent completed A Terminal is only 10 years old, and due to limited automobile traffic issues, is already outdated. Terminal B is no longer viable and for that reason, is being replaced.
The Big Build is truly something to boast about! This remarkable structure will replace a 216,000SF building with a 669,000SF structure. The architecture is reflective of Sacramento's famous canopy of trees. Interestingly, parts of the ceiling has been built from a recovered old bridge, consisting of 100,000 board feet of wood milled in 1817. In fact, the airport has a goal of attaining a LEED Silver and is within points of doing so. Eight million dollars have been set aside for art within the structure. Two million dollars of this allotment will be set aside, using the interest to maintain the art.
While this may seem to be an odd time for such impressive expenditure (the total cost is one billion dollars and is coming in at budget), this is paid for by revenue generated by the airport itself and by law, cannot be spent on other projects. There is much to admire about this project, so please click here to learn more! Don't ask about the red rabbit...so far no one I have chatted with get it!

SACRAMENTO'S NEWS10 COATS FOR KIDS COMING NOVEMBER 1ST!

noreply@blogger.com (Paula Swayne) — Fri, 16 Oct 2009 21:56:00 +0000

Sacramento businesses, schools, and other community entities collect coats then bring them to News10. The coats are cleaned due to the generosity of Swanson Cleaners. This is a wonderful program that brings the community together to provide coats, not only for kids, but for anyone who needs a new winter coat but has no resource to purchase one.
Last year, News10 successfully collected over 39,000 coats for those in need. After collecting, the coats are organized by size and type at Cal Expo. People are then invited to come pick out the coats needed at no charge.
I am proud to say that Windermere Dunnigan Realtors is one of the drop-off sites for coats. So, if you have coats you would like to donate, or would like to purchase coats to donate, we can make it very easy for you...just drop them off at either 2401 American River Drive or 4215 Freeport Boulevard after November 1st. We will bring them to News10 for you!

CALIFORNIA REAL ESTATE FORECAST

noreply@blogger.com (Paula Swayne) — Tue, 13 Oct 2009 23:23:00 +0000

In a presentation at the California Realtor Expo 2009, consumers, Realtors and the real estate industry predicted what the real estate market is going to look like for the coming year.
The median home price is expected to rise to $280,000 compared to $271,000 this year - a 3.3% rise in value. At the same time, the actual number of homes selling in the coming year is expected to change from 540,000 in 2009 to 527,500 in 2010 - a 2.3% drop. While California Realtors will be selling fewer homes, the selling price of those homes will rise.
California is going to establish a "new normal", according to C.A.R President, James Liptak. This will likely translate to continuing sales of distressed low end properties and will include moderate home price appreciation.
California real estate is experiencing a dual market. With first-time buyer tax credits and programs as well as a plentiful supply of investors, there is actually a shortage of low-end properties. The reverse of this is true in the upper-end market where sellers are feeling the pinch of lenders anxiety regarding jumbo or non-conforming loans and buyers insecurity over the future value of these properties. There is concern that if discretionary buyers do not return to the market soon, it could affect the second half of 2010.
The "wild cards" regarding the 2010 market, according to C.A.R.'s Chief Economist, Leslie Appleton-Young are the release and number of foreclosures, loan resets, the job market and the California budget crisis...and the ongoing actions of the federal government.

YOUR T-SHIRT SAYS A LOT ABOUT YOU!

noreply@blogger.com (Paula Swayne) — Mon, 12 Oct 2009 18:14:00 +0000

Have you really looked at the t-shirts you own? Have you thought about what they tell people about you? This occurred to me last night as I stood in my closet thinking I should really clean it out again. I have a lot of t-shirts I don't wear...
The truth of it is, I really treasure them, even though they are not exactly my style. I know this sounds a little contradictory until you understand where I got them.
Thousands of dogs surrounded me as my daughter, a friend and I participated in SPCA'S Doggy Dash. It was soooo much fun! How did the organizers know I had paid my way? My t-shirt! And just to make it even more fun, my dog had a matching t-shirt of her very own! We walked a 5K, marveled at the fact that there could be so many breeds of essentially the same critter and caught up with each other's latest news.
We arrived to a flurry of activity as the poor foreman tried to organize a crew of rookies. We were to renovate a house for Rebuilding Together. My daughter and I traditionally paint the ceilings and trim of the exterior of the houses. I am not sure if more paint lands on the house or the painters, but it is a great feeling at the end of the day to know that we have made one families life just a little nicer. My t-shirt never survives without the color of the house on it, but that makes it even better!
Finding our team was the big challenge when you consider that there were tens of thousands of people running or walking in support of the Susan G. Koman Race for the Cure in one big parking lot. We finally found our team (a bunch of Realtors who were really noisy...but had on the same chartreuse colored t-shirt), took pictures galore and then did laps around Cal Expo's parking lot.
The t-shirts I wore for these events are a reminder of a great feeling of giving. I am not sure who got more out of it - myself or the beneficiaries, but I am pretty sure they were mutually great experiences. So, take a look in your closet...what does it tell people about you? And, if you happen to see someone wearing a benevolent t-shirt, why not thank them for giving so much of themselves?