Land Park, East Sacramento
and Curtis Park Specialist

THE LEMONADE STAND

THE LEMONADE STAND

There is something about lemonade stands that I just can’t pass up.  I don’t know if it’s the cute kid on the other side of the table, the childhood memories it creates or I’m simply thirsty, but it draws me like a moth to a flame. So, just like with garage sales, I slam on the brakes and hope no one is behind me.  I rummage in my purse until I find my cash…and here’s the best part…I pull out whatever lands in my hands.  Usually it’s a $20 (my life at ATM’s).  I walk to the table with it wadded up in my hand, tell the kid I don’t really need the lemonade, but compliment him or her on their industriousness.  Then I secretly had them the money and quickly walk away. The reaction is so much fun…and I get more pleasure out of “Mom!!! Mom!!! Look what that lady gave me!!!!  Mom!!! Look!!!) than that child ever gets spending the money. Try it sometime…you’ll never go...

How do you allow for that HUGE workshop?

I love Ryan’s posts and as a Realtor, this one really helps give a market value on a challenging property! How much value does a huge backyard shop add? By Ryan Lundquist on Feb 23, 2017 07:19 am A friend asked me a great question this week. How much value does that huge shop in the backyard add? He wasn’t sure how to pull comps, so I scratched out a few thoughts. Anything to add? 1) The market: Can buyers use whatever the structure is? Will they pay for it? These are good questions to ask. At times home owners build things that are so specific to their own needs that the market really might not even want it (or maybe buyers will simply use it for something else). I think of Michael Jackson’s Ferris Wheel at Neverland Ranch or a $125,000 recording studio in the backyard of an area of Sacramento where values are about $225,000. There might be one buyer out there willing to pay a premium, but does that one buyer really represent the market? Remember, lenders are going to lend based on the market. 2) Find something similar: The best way to uncover value for a large workshop is to find a few examples that have sold. Keep in mind we might not find something exactly the same, but we have to do our best to find something we might think of as competitive. In a rural market there are likely many examples, but in a residential market we might have to pour through years worth of sales to find a large workshop, detached garage,...

A MUCH NEEDED CONVERSATION..

A good friend and superb appraiser wrote this today.  It is well worth reading and sharing with your sellers! Some advice for sellers in an aggressive market By Ryan Lundquist on Feb 07, 2017 07:38 am Dear Sellers, The market feels aggressive out there and you’re probably going to get multiple offers, but let’s have some real talk. Last week I wrote an open letter to buyers, but today I want to share some perspective to help your end of the transaction. Whether you are in Sacramento or elsewhere, I hope this is useful. Any thoughts? Advice for sellers in an aggressive market: 1) Don’t get high on the headlines: It’s easy to read articles that say “the market is hot” and then ignore data in the neighborhood. It’s as if we see something in print and price according to the headline instead of actual sales and listings. Right now there are no shortage of articles saying “Sacramento is one of the hottest markets in the nation”, so be careful about getting distracted by the headlines. 2) Don’t aim for the unicorn: It’s easy to price for that one magical unicorn buyer who is going to pay more than anyone else for some reason, but I would advise you to price based on recent similar sales and similar listings that are actually getting into contract. I find some sellers say things like, “A cash investor from San Francisco is going to swoop in and pay top dollar for my property.” Yeah, maybe. But what might also happen is you sit on the market instead of sell because you priced...

CAUTIONARY TALE ABOUT PACE LOANS

I just attended a meeting today in which PACE loans were discussed.  For some, these are a great option, but everyone should understand the program in it’s entirety and the repercussions of using such a loan.  Many of the very people who promote these loans have not been trained to give the entire picture, so they may not even know the program as they should. PACE loans are energy efficient loans that are paid by attaching the loan to your property tax bill.  This, in and of itself, might be fine if you are staying in your home during the entire time the loan is in place.  However, if you plan on selling while the loan is in place, you are very apt to experience some hurdles. Government back agencies have said that they will not loan on a property that has a PACE loan on it.  That means that if you sell your home, you must pay off the PACE loan before a new loan can be put in place.  This can be a significant burden if yours is a recent purchase and there isn’t much equity yet.  Also, most PACE loans have an early payoff fee of up to 3%.  So, not only are you forced to pay off the loan, but the additional fee as well. When you are being approached by a salesperson to use a PACE loan, be sure to get a quote from him without using the PACE program – you might find a significant difference in cost.  You also would be smart to get other bids without the PACE loan. If you...

CREDIT SCORES DO’S AND DON’T’S!

Isn’t it amazing how much a little three digit number can affect our daily lives?  Credit scores can influence not only our ability to purchase a home or car, but can affect the quality of our credit cards and our ability to get a job.  Here are some interesting facts about credit scores: Does viewing your credit score hurt your score?  If you are simply viewing for your own information, it doesn’t usually change the score.  However, if your lender is pulling your credit score, it can slightly lower it. Do you want to help your children by co-signing their loan?  While generous, understand what you are offering.  If they come into some tough times and can’t make their payments, you are going to be held liable and it will affect your credit score. Do you want to help your score by closing old or inactive accounts?  Think twice!  This also shortens the history that the rating companies have regarding your diligence in paying on time. You have made your utility and rental payments on time – doesn’t that count for something?  If you hadn’t and they had gone to collections, it could negatively affect your score.  However, making them on time is not typically reported to the rating agencies. You have worked hard to remove those negative records in your credit score.  Now, are those negative records expunged?  Nope.  They can stay on your record for as long  as 7 years. So, there you go!  Keep that credit rating strong simply by on time payments and not overloading yourself with credit debt....