Friday, May 17, 2013
CALIFORNIA'S OLDEST NEWSPAPER - EST. 1851
Volume 162 · Issue 59 | 99¢

Undecided about marketing a local business

Normally, I can make up my mind about something pretty quick. Yes, no, now, later, red wine or white. Making timely decisions allows me to focus on the future rather than ponder what it might or might not be. Recently, I have been frustrated by my procrastination. I have spent too much mental energy (something [...]

Flipping without flopping

At 26 I made my first property flip. Another agent had listed an old vacant three-story Victorian house in a neighborhood that was transitioning from single-family to multi-family. The house was in OK but dated condition. The expensive components, like the roof, siding, HVAC system, electrical and plumbing were all in serviceable condition. An investor [...]

Getting lucky with a back-up offer

It’s sometimes better to be lucky than good. There are a number of things I have accomplished in my life because I studied, worked hard, saved for a rainy day, heeded the advice of others with greater wisdom and made a good decision. But there are a number of successes I have had simply because [...]

What happened to the scary shadow inventory?

After a few weeks of looking at nearly every home in her price range, she told me, “I’m not finding the type of home I’m looking for. Maybe I will hold off buying something until there are more homes to choose from.” That’s a valid complaint I frequently hear from folks shopping for a home. [...]

Rookie mistakes of first time homebuyers

Last week my column offered a few suggestions for sellers looking to take advantage of the best seller’s market in six years. Record low interest rates and a shortage of available homes for sale have contributed to a mini price bubble. About half of all listings are selling at or above the listed price. July’s [...]

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’s a stage and on stage

Whenever folks hear about my living situation they either respond with envy: “Where do I sign up?” Or horror: “You mean you have to make your bed every day?” Although being a live-in home stager has its perks — no mortgage, no binding lease, and the chance to live in a cool house for considerably [...]

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 [...]

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 [...]

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 [...]

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 [...]