Ken Calhoon

Most common mistakes sellers make

Home values in El Dorado County are rising. The median selling price of a county home in July was $285,000. That’s 11 percent higher than June and 8 percent higher than July 2011. Of the 230 monthly sales, about half sold in less than 30 days at or above the listed price. With only 650 […]

Clear signs that we’re in a seller’s market

It was love at first sight. While showing homes, some will be OK, most will be discounted from consideration and eventually my clients find one that they really like enough to write an offer. It’s always a pleasant surprise when my clients discover a home that matches their personalities, expectations and price. But this time […]

Negotiating techniques in multiple offer situations

My clients had finally settled on a house. They had been previewing homes on the Internet for four months and in the last three weeks we previewed 30-plus homes scattered from El Dorado Hills to Camino. During this time we had seen some very nice homes and homes that met every specification my clients had […]

Every home has a dominate personality

All houses have a personality. There are happy homes and abandoned lonely ones. There are homes where you feel relaxed and comfortable and homes that have an intimidating attitude. Some homes are built around children. They are nurturing and protective while others have been neglected. There are homes nearing the end of their useful life […]

Housing shortage on horizon with no help from traditional sellers

Homebuyers who have been patiently waiting on the sidelines for the real estate market to hit bottom so that they could jump in precisely at the absolute lowest price have likely missed the opportunity. It’s still a great time to buy with prices and mortgage rates at unprecedented lows but county home values have been […]

Expect the unexpected when previewing homes, land

Whenever a seller or their agent open up their home to prospective buyers there is always a chance of unintended consequences. Stuff happens when strangers go wandering around an unfamiliar home or property that’s listed for sale. I was reminded of how freak incidents occur while reviewing a decision by the United States District Court […]

Meeting the needs of a very special group of people

Is listing and sales of homes for seniors any different from any other real estate transaction? But of course. While the mechanics are the same: for sale signs, flyers, MLS, previewing properties and writing offers, there are recognized differences in working with this very special group of people. Paying special attention to the needs of […]

Lawmakers should stop tinkering with housing market

Our Attorney General Kamala D. Harris is a rising Democrat star. She is no stranger to politics, as the former girlfriend of San Francisco Mayor Willie Brown and one of President Obama’s top surrogates in California. Harris recently introduced a package of legislative bills she calls the Homeowners Bill of Rights which, according to her […]

May sales and low inventory point to market recovery

There is conclusive sales data showing the county’s housing market is rebounding. After seven years of declining prices and anemic sales, it’s a welcomed change. The median selling price of a county home last month was $285,000. That’s up $30,000 from April’s median of $255,000 and $35,000, or 14 percent, above the median selling price […]

The customer is always right unless they’re wrong

Prior to the 20th century customer service wasn’t all that important to trade and commerce. Today consumer spending accounts for nearly two-thirds of our GNP but it wasn’t always like that. In the 1800s consumers had a limited selection of goods and services. Products and skilled services were so in demand that those who controlled […]

Rural life not for everyone

This is the time of the year when I feel my 10 acres is nine too many. While my friends are playing golf, boating around Folsom Lake or taking the family on a picnic, I’m up to my elbows clearing grass, weeds and brush. My sole recreational activity over the next few weeks will be […]

Welcomed help from friendly neighbor

My clients told me about the home they wanted to buy before it was listed for sale. A friend of theirs knew the owners who needed to sell and relocate out of the area. When I received the information, I called the owners to inquire if they were indeed planning on selling and needed an […]

No celebration for this anniversary

It was six years ago last month that the median selling price of a county home reached the highest point ever recorded at $521,000. It’s been downhill from there. Last month the county’s median selling price was $256,000. Looking back six years ago, most of us in the housing industry knew we were long overdue […]

False expectations led to housing collapse

He was reviewing the terms of his offer, initialing each page of the purchase contract when he abruptly stopped, shoved aside the papers, looked me in the eye and asked, “If we pay the listing price do you expect this home to be worth more five years from now?” What I wanted to say was […]

Lenders fear big increase in walk-aways

Ask any actively engaged real estate professional and they will confirm the county’s real estate market continues to improve. March sales were 20 percent better than March of 2011 and the most active March since 2006. The county’s median selling price of $252,000 was down slightly from a year ago but was higher than both […]

Granny flats and in-law apartments are viable options for seniors

“Where’s mom going to live?” Asked my wife Vicki one evening during dinner. “What do you mean? She’s getting along just fine where she is,” I said. “Besides she loves that old house. She would never want to move.” “She can’t take care of that place. She has health issues and forgets to take her […]

Contract cancellation and its consequences

It’s often more difficult getting out of a contract than getting into one. At one time or another during my real estate career, I have been a party to a number of contract cancellations. Most of them were mutual, some were not but were resolved with time and others required arbitration or litigation. Most everyone […]

The unintended consequences too much regulation

My first land development was pretty easy. Two buddies and I purchased 100 acres of grazing land from an old rancher back in the 70s. We hired a surveyor who divided (paper platted) the property into four equal parcels. Then we filed the new plat map with the Recorder’s Office and received four new parcel […]

Playing to win with multiple offers

Multiple offers are happening more frequently. Sellers like it when buyers compete against each other for their property. Multiple offers nearly guarantee sellers will get full price or better without giving up huge cash concessions or paying the buyer’s closing costs. Multiple offers are changing the direction of the market. Last month nearly one-third of […]

A good time for an adjustable rate mortgage

It had been a difficult five years. The rent they received was $500 shy of the mortgage payment. Then the letter came from the lender saying their initial low adjustable rate was expiring and their payments would be recalculated. They decided they could no longer hold on to a bad investment. If the lender would […]

April 04, 2012 | Posted in Real Estate | Tagged | 1 Reply

Failure to launch the boomerang generation

“What size home are you looking for?” I asked. “About the same square footage that we just sold but this time we want a two-bedroom home,” she said. “Why a two-bedroom? You just sold a big five-bedroom home. Isn’t that a big difference?” “Well it is but we don’t want all the kids thinking about […]

Ken Calhoon: The work begins when the client says yes

Finally there was the connection I was looking for. As soon as I drove up in front of the house, I knew this was the home my clients were going to buy. More importantly, they did too. It had taken several weeks of searching for the right property. Despite the enthusiasm of many first-time homebuyers, […]

Homebuyers rediscovering El Dorado County

While visiting the Coldwell Banker office this week, I noticed the back room sales board was nearly full for the month of February. One of the sales associates passing by said it was their best February in years. That tracks with the 200 home sales reported through the MLS for last month. The county’s recorded […]

Is it time to invest in a vacation or second home?

My first experience with a vacation/second home was the purchase of a condominium on the island of Maui in Hawaii. This was back in the 1970s when we were living in Anchorage, Alaska. Maui’s lush green golf courses and sandy beaches looked pretty attractive to many Alaskans around February. The purchase price was $79,000. I didn’t […]

Second chance financing for foreclosed homeowners

Everyone deserves a second chance. We have all made a few mistakes in our lives where we had the benefit of a do over. I had a few failures early in my business career and started up again wiser from the experience. I suspect all of us have learned from our mistakes or the bad […]

The changing responsibility of real estate agents

Bud Zeller is a local real estate broker who also teaches real estate at Folsom Lake College. Bud was one of my most vocal supporters when I first began writing this eclectic real estate column for the Mountain Democrat seven years ago. Initially, there were some concerns that I was exposing insider information that would […]

Big commercial deals not for every agent

Most of us who list and sell real estate primarily deal in residential properties rather than commercial. There are valid reasons. Selling homes and land is easier when working with motivated buyers and sellers, financing is available, our out-of-pocket marketing expenditures are small and 99 percent of the time we get paid. It doesn’t always […]

A homebuyer’s shopping guide

My wife Vicki has banished me from grocery shopping with her. We are no longer compatible. To her shopping is like an archeological adventure. Her map is the weekly advertised specials. She journeys up and down each aisle of the store frequently checking her list until she discovers the location of the item. Then she […]

Strong finish for fifth year of declining home prices

Before I close and file away the sales numbers for 2011 I thought it might be of interest to take one last look at yearly listing and sales activity across the county. Perhaps studying the past will give us a glimpse of the future. According to the sales numbers furnished by the El Dorado County […]

Traditional sellers hurt by short sales and REOs

This year will be the most difficult since the beginning of the real estate recession for conventional sellers. Six of every 10 county homes closing escrow are now short sales or REOs and that percentage will steadily increase. It will be 2014 before the percentage of shorts and REO listings and their subsequent sales will […]

Attempting to organize papers and people

Making New Year’s resolutions wasn’t a priority for me this year. After all, I’m still working on the ones I made in previous years. Looking back, with the exception of the quit smoking resolution I made back in 1982, I haven’t done all that well keeping the promises I made to myself on New Year’s […]

A few real estate predictions for 2012

Welcome the re-entry buyers. Three years ago Mark and Julie lost their home through foreclosure. Last week they closed escrow on their newer, larger, nicer home in the same neighborhood. Their new home was about half the price of what they had paid for the home they lost. They are among a new category of […]

Looking to mom and dad for help when buying a home

Bad things sometimes happen to good people. Some real estate problems don’t have a solution. When that happens, it’s often best to accept the situation and move on than dwell on our misfortune. Most of the time, when I’m asked for advice on real estate or a financial matters, there are clear alternatives: Buy, sell, […]

Memories of home and Christmas Past

There’s no other time of the year with so much emphasis on the family home. Be it ever so humble, it’s where everyone wants to be for the holidays. I still have flashback memories of Christmas past whenever I hear Bing Crosby’s singing “Oh, there’s no place like home for the holidays” or “I’ll be […]

December 23, 2011 | Posted in Real Estate | Tagged | 1 Reply

California Dreamin’ on such a winter’s day

Where do you suppose all the “no-growth” advocates have disappeared to? You remember, all the folks a few years back who were alarmed about the area’s exploding rate of growth. Perhaps they have moved someplace else, along with a substantial number of former residents. The anti-growth movement should be pleased with the direction our state […]

Bad comparables killing too many home sales

It was October and my Cameron Park sale was progressing as expected. The termite inspection revealed some dry rot issues that the sellers agreed to repair and my clients waived a few issues pointed out during the home inspection. It was all normal stuff that I had seen a hundred times before. Most property issues […]

Lessons buyers can learn from the housing bubble

All the mistakes leading up to the collapse of the real estate market seem so obviously clear today. Although we live in the present and plan and worry about the future, history provides us the opportunity to learn from our past mistakes and move on with new ones. In many respects we were all partially […]

Survey results from homebuyers and sellers

I am generally skeptical of most opinion surveys. There are far too many surveyors asking us about our opinions on anything and everything and then treating the results as factual. Just because 70 percent of us have a favorable opinion about something doesn’t make it right. Many great leaders ran afoul of public opinion. Jesus […]

Questions and answers on refinancing

The last few weeks I have received an unusual number of calls and e-mails having to do with refinancing. Seventy-nine percent of all mortgage applications in October were for refinancing, according to the Mortgage Bankers Association. The increased interest has partially been the results of the president’s reintroduction of the Home Affordability Refinance Program, HARP […]

Broken promises and missed opportunities

Back in the day, when property values were increasing 15 to 20 percent a year, one of the most popular loans was the adjustable rate mortgage (ARM). They were attractive in comparison to the ordinary 30-year fixed rate mortgage and came dressed in various seductive attire. The voluptuous ARMs flaunted low “teaser rates” with different […]

Solving the housing problem and saving the country

It was 4 a.m. I couldn’t sleep and so I got up and went upstairs to my home office and began searching the MLS for appropriate homes to show my weekend clients. Then the phone rang. Me: “This is Ken Calhoon, may I help you?” Caller: “Yes Mr. Calhoon. Would you please hold for the […]

Five stages in the life of a short sale

Short sales are more common today. Of the 227 home sales reported last month by the El Dorado County Association of Realtors 53, or 23 percent, were short sales. Homebuyers are attracted to short sales by their lower prices. The median listed price of a non-short sale property is $164 a square foot while the […]

The softer side of real estate

Occasionally, I am reminded that buying a home isn’t all about price, mortgage rates and square footage. That’s important but it’s not the primary reason most people buy a home. A few weeks ago I was showing a young couple a modestly priced home in Cameron Park. They loved the house and asked me the […]

Some people can’t handle the truth

Betty Jo was in a real mess and, after reading her e-mail, I knew I had the story for my next column. The names and places have been changed but her situation is a real-life example of tragedy, bad luck and poor decisions. Betty’s husband Dick had always wanted to live in the mountains so […]

October 14, 2011 | Posted in Real Estate | Tagged | 1 Reply

Small signs of the housing market’s recovery

“I’m about as busy as I have ever been,” said Jason Jackson, owner of Sierra Home Inspection Service. We were both attending a Chamber of Commerce mixer held at Crystal Basin Cellars in Camino. Jason was replying to my standard conversation starter for business owners: “How’s business?” The home inspection business should be better this […]

Special Publications »

Use of this site constitutes acceptance of our Terms of Service (updated 4/30/2015) and Privacy Policy (updated 4/7/2015).
Copyright (c) 2016 McNaughton Newspapers, Inc., a family-owned local media company that proudly publishes the Daily Republic, Mountain Democrat, Davis Enterprise, Village Life and other community-driven publications.