The latest in real estate news

Please check out my new blog site at sacramentorealestateblogging.com. There is a wealth of information that can be useful to anyone who is thinking of buying or selling real estate.

Statistics in Sacramento real estate--Nov 08

Hi all. I am sure you are all wondering how things are going in the real estate market today. Sales for the month of November were up from November 2007 and sales decreased a bit in November 2008 as compared to October 2008. November ended with 1716 closed escrows where October had 2103 closed escrows. Nonetheless, we are seeing some great deals out there and many buyers are taking advantage of this great opportunity. Also, as of January 1st, the down payment for all FHA loans increased from 3 to 3.5%. Rates are also very good this week. Please see link below for more information on the statistics from the Sacramento Association of Realtors. If you, or anyone you know, would like access to all available REO (Foreclosure) properties, please feel free to call or email me.

http://ims.sacrealtor.org/realtors_only/statistics/pr_1108.pdf

Happy New Year! I am happy to announce that I am now affiliated with Keller Williams Realty. I will continue to provide excellent service to you, your family, friends, and business associates. I am very excited about my move. My new office number is 916-779-6706 and my email is jenicahorn@kw.com. Please feel free to call or email me if I can help with any real estate needs. There are some great deals out there! I wish you all much success and happiness in 2009!

I had a client call me a few days ago and ask me why he received a letter in the mail from the City of Sacramento's Rental Housing Inspection Program. Both he and I did not know there was such a thing.  After digging deeper, I found out that the City of Sacramento is starting to monitor all rental properties in the city of Sacrament to make sure they are "up to code" and safe for tenants. This program does not seem to apply to properties outside of Sacramento City limits. The program costs $28 per rental unit. Another part to this new program is that the owners of the properties have to provide a contact within 35 miles of Sacramento City Hall who has full authority to act on behalf of the property owner. This may be a challenge for out of town investors.

The most common examples of violations found are:

*Inoperable or missing smoke detectors

*Infestation of insects, vermin, or rodents

*Deteriorated or ineffective waterproofing of walls, roofs, foundation, or floors

*Split, buckling or sagging roofs

* Door aisles, passageways, or stairways not of sufficient width or size

*Unsightly, detoriorated fencing

*Overgrown yards

*Any building in disrepair that constitutes a publice nuisance

*Structure in need of painting

*Storage in the front yards

*Inoperable Vehicles

For more info visit http://www.citryofsacrament.org/code