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3810 Henshaw Rd: Explore the neighborhood with Google Street View
Friday, August 22, 2008
Have I mentioned how much I love technology? Thanks to Google Street View, you can not only check out 3810 Henshaw Road (just use your mouse pointer to click and drag around in the image below to change your view, click on the plus or minus to zoom in or out, and click on the arrows next to the street name to go in that direction on the street)...
View Larger Map
...but you can head just down the street and check out the waterways and Lake View Park...
View Larger Map
...and even explore the rest of this great Bridgeway Lakes neighborhood in the Southport area of West Sacramento!
View Larger Map
Have questions about this or any other home Southport or West Sacramento home for sale? Give us a call at (916) 444-7577 today!
Labels: 3810_Henshaw_Rd, Southport, West Sac
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posted by Rob McQuade @ 8:44 AM,
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This one shows like a model at Bridgeway Lakes
Wednesday, August 20, 2008
Ever feel like you're taking a real risk buying in a brand new neighborhood? What if it doesn't become the neighborhood you're hoping for? Will the parks, walking trails, and other amenities live up to your expectations? And how do you know if you'll have great neighbors?
For those who bought at Sail House at Bridgeway Lakes by new home builder Shea Homes in Southport, those fears have been washed away: beautiful waterways and peaceful walking trails weave between neighborhoods, community parks are filled with kids playing soccer and adults playing softball, and there's a certain attention to small details (the crosswalks are part of the neighborhood and not an after-thought) that makes it obvious that this is a community built with care—and one that will stand the test of time.
JUST LISTED! 3810 Henshaw Rd, West Sacramento, CA 95691
This fabulous "Legacy" floorplan at Shea Homes' Sail House at Bridgeway Lakes shows like a model home with tons of upgrades and features five bedrooms (including a master suite with the optional retreat upgrade) and three-and-a-half baths and more than 3,900 square feet of living space. Among the upgrades: onyx granite tile counters, tile floors, and multi-tone paint.
The open kitchen with it's large island eating area still leaves plenty of room for a dining room table (in addition to the formal dining area) and is perfect for entertaining, family time, or just relaxing indoors on an "inside" day.
The formal living and dining area are perfect for entertaining or family gatherings and the home has such wonderful interior architectural features that you don't see on lower-end homes.
Great outdoor living space: a pool/spa combo and built-in bbq island, plus plenty of room for lounging around.
Some of the best features of the home on Henshaw aren't even inside the home: you're just steps from the walking trails, waterways, and deep-water channel that are signatures of the neighborhood (in fact you can walk just a few yards down the street and up the levee to watch ships move silently through the canal—great fun with kids). The neighborhood truly speaks for itself, and the proposed Yarbrough golf course and waterfront development will bring a new "town center" to the area. The home is also conveniently located just minutes from Downtown Sacramento.
This home is priced to move quickly at $425,000. For more information or a private viewing, call Rob at (916) 444-7577 or Andrea at (916) 532-2233 or you can click here.
Labels: 3810_Henshaw_Rd, Elk Grove, North Natomas, Sacramento, Southport, West Sac
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posted by Rob McQuade @ 8:27 AM,
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CalPERS home loans trump minimum wage for State employees
Thursday, August 7, 2008
Working for the State of California may not seem all that appealing when the annual tradition of stalled budget negotiations means minimum wage for state employees (except those who are exempt from the governor's recent executive order), but there are some benefits to civil servants that just might make it worthwhile, like the CalPERS Member Home Loan Program (MHLP).
CalPERS (the California Public Employees Retirement System) draws its membership from employees of the State of California as well as public sector employees in may city and county government agencies, including employees of the City of Sacramento, Sacramento County, Placer County, and many other counties and local municipalities. If you have a CalPERS member number, you should be eligible for the Member Home Loan Program—and membership has its privileges, including:
60-Day and 90-Day Rate Protection
At the time of your loan application, you can lock in your interest rate for 60 or 90 days and get protection against market fluctuations. Other loan programs that offer shorter lock periods can leave you with a higher rate at close of escrow—resulting in higher monthly mortgage payments.
Two FREE CalPERS Float Down Opportunities
With the 60-day and 90-day interest rate locks, you’ll receive the lowest CalPERS interest rate on three key dates—date of loan lock-in, date of loan approval, and date the loan documents are drawn.
30-Day Rate Lock
You can choose to lock your interest rate for 30 days instead 60 days. Although the float down feature is not available with this option, you’ll get the benefit of a competitive 30-day rate.
Low-to-No Down Payment Programs—CalPERS Special Loan Programs
CalPERS offers several financing options that have either low or no down payment requirements. The MyCommunityMortgage™ and Flexible 100™ require little to no down payment.
Interest Only Feature
If you are just starting off, would like greater purchasing power, or like the idea of lower initial monthly payments, CalPERS' Interest Only Feature could be right for you. With initial interest-only periods of 7- to 10-years, these fixed rate and adjustable rate mortgage loans are available for home purchases or refinancing.
100 Percent Financing Options
CalPERS offers options to purchase a home with no out-of-pocket costs for the down payment. CalPERS' 100 financing options could let you secure up to $500,000 for a down payment. CalPERS even offers down payment assistance on jumbo loans.
Savings From Our Partners
To provide you with more comprehensive service during your home buying process, a number of affiliate relationships have been established. Check out additional savings on services related to purchasing or refinancing a home here.
No Prepayment Penalties
Any CalPERS Mortgage Loan gives you the option to make early principal payments with no penalty. This feature of the program not only gives you the ability to build equity in your home but, because these payments are immediately applied to your loan's principal balance, it also saves you money.
For more information or to take advantage of the CalPERS Member Home Loan Program (MHLP), call (916) 444-7577 and we'll connect you with an independent mortgage professional who can serve your needs.
Labels: Antelope, Arden, Central, Citrus Heights, Curtis Park, Downtown, East Sac, Elk Grove, Elmhurst, Greenhaven, Laguna, Land Park, Midtown, Natomas Park, North Natomas, North Sac, Rancho Cordova, Regency Park, River District, Roseville, Sacramento, Southport, West Sac
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posted by Rob McQuade @ 11:43 AM,
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Home-Buying 101: Short Sales explained
Friday, August 1, 2008
Searching the MLS for a home in the West Sacramento area lately? If so, you've probably noticed a large number of homes listed as short sales (they may be referred to as active short sale or short sale contingency or even just "AS" or "ASC")—and they're often some of the lowest priced homes in any given neighborhood. Here are some of the most common questions I get:
Q. What is a short sale?
A. The term "short sale" is used to refer to a property being sold for which the seller owes more than it will sell for in the current market. This is more common in neighborhoods that have seen significant price declines since the peak of the market in 2005, but any seller can end up in a short sale situation if they've borrowed more money against the home than it's currently worth (such as when a home owner has borrowed money and "overimproved" a home for the neighborhood it's in).
Q. How do short sales work?
A. Short sales work like this: a seller has a financial hardship (death of a spouse, loss of a job, job transfer, hospitalization, or sudden change in monthly mortgage payment) and needs to sell a home. Because they owe more than the home is worth, the seller is requesting that the bank(s) that they have a mortgage through accept less than they're owed. Most banks won't even entertain the notion of a short sale if there aren't any buyers ready to purchase the home for the current market price so, as part of the process, the seller puts the home on the market and begins accepting offers. The seller will typically accept the best offer and submit it to the bank for approval.
Q. Are these deals too good to be true?
A. The short answer is: Yes, in many cases these deals are too good to be true. Many home sellers who are in a short sale situation are selling because they're falling behind on payments or are in preforeclosure. For this reason, they're feeling a lot of time pressure to get the home sold before a bank forecloses, so they price the home lower than anything else in a neighborhood to just try to get offers to submit to the bank(s). This leads to multiple offers but doesn't guarantee that the bank will accept whatever sales price the seller accepts. The seller doesn't usually care what the home sells for because he or she won't be making any money on the sale.
Q. Do banks really go for this?
A. Sometimes. No bank is ever eager to accept less than they're owed because they're losing money in the process, and banks aren't in the business of losing money. Of course in many cases the alternative is foreclosing on a home, and that can be a lengthy, expensive process that results in the bank owning a property—and banks are often even less eager to own the home so may be willing to negotiate if they see that it's in their best interest.
But there are some big challenges when buying a short sale. For instance, unlike a foreclosure where the bank owns the property free and clear and can sell it for whatever price they want, in a short sale situation there may be other parties with a financial interest in the property. If a seller has experienced a financial hardship, there may be unpaid taxes, utilities, or contractors who've done work and are seeking payment—and any of these can result in liens against the property. In a short sale, the seller MUST prove to the bank that there is a financial hardship that requires the home be sold and all parties must agree to accept little or no payment and sign off on the sale of the property. Add to this the fact that there may be a second mortgage that will likely be completely wiped out and it becomes challenging getting everyone with a financial interest to authorize the sale. This is often a grueling, months-long process that can ultimately be for nothing if one or more parties deny the short sale request, and this is a major reason why a lot of homes that are listed as short sales eventually come off the market and reappear later as bank-owned REO properties.
Q. What do the terms active short sale and short sale contingent etc. mean?
A. An active short sale is just another way of saying that the home is active on the market as a short sale. A home listed as short sale contingent means that the seller has accepted an offer and submitted it to the bank. Until the bank responds (and this can take months), the listing agent is obligated to continue to market the home as "for sale". Once the bank has accepted an offer, then the property will be marked as "pending" and the normal escrow period begins.
Q. I've called several times about a home that's for sale online and the agent keeps telling me it's already sold. Why is it still showing up online?
A. In the Sacramento area, if a property is being sold as a short sale, until the bank accepts one of the offers that has been submitted the listing agent is required (by the rules of the local MLS) to identify it as short sale cont and it will continue to appear online on searches because the home isn't yet technically in escrow. While this may seem confusing, your West Sacramento REALTOR® can help you figure out the status of properties you're interested in.
To summarize, when you see a property for sale that's listed as a short sale this means you should expect a much longer than average escrow period (so don't plan on buying a short sale if you're on a tight timeline), a counter offer on price from the bank (even if the seller has accepted your price), and the possibility that the bank will reject the short sale entirely. If you can find a great home that's either a traditional sale or a foreclosure (also called an REO), consider going with these options first. Good luck and happy house-hunting!
More questions about short sales or other homes? Give us a call at (916) 444-7577 today!
Labels: Anatolia, Antelope, Arden, Carmichael, Citrus Heights, Curtis Park, Del Paso Heights, Downtown, East Sac, El Dorado Hills, Elk Grove, Fair Oaks, Gold River, Granite Bay, Greenhaven, Home-Buying 101, Laguna, Land Park, Lincoln, Meadowview, Midtown, Natomas Park, North Highlands, North Natomas, North Sac, Oak Park, Orangevale, Pocket, Rancho Cordova, Regency Park, Rio Linda, River Park, Rocklin, Rosemont, Roseville, Sacramento, South Land Park, South Natomas, South Sac, Southport, Tahoe Park, UCD Med Center, West Sac, Woodlake, Woodland
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posted by Rob McQuade @ 1:50 PM,
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I want you to use this website...
Monday, July 21, 2008
...even if you don't use my services!
I've designed these websites to be useful and usable—and I really want you to find the information (or property) you're looking for. To that end, I'd love to hear what you think. I'm constantly adding and updating the website, including new relevant info and resources. Even if I haven't blogged in a few days, I'm usually adding a new feature here and there (thanks for the feedback on the ZIP Code search tool at the left of each page, Margaret!)... But is it the type of info you want? And what else would be helpful?
Please let me know what you think. I'm listening and working to build the best, most easy-to-use Sacramento area real estate website I can. Judging by the great phonecalls and emails I'm getting it's working. But I'm not here to rest on my laurels!
Fifteen seconds of (real estate) fame
A few weeks ago I was fortunate enough to meet with the fine folks at Trulia (a real estate industry website used by a lot of consumers to find properties for sale—though it's not nearly as good as my websites! ;-D)to shoot a video with Brett Crosby at Google Analytics for other real estate industry professionals. It probably won't be of interest to you (it's a bit nerdy, I confess I'm a "real estate nerd"), but you can check out the video below. It was even picked up by ActiveRain (another industry website that many consumers use)
Oh, and if you decide you'd like some help with your Sacramento real estate needs, my team and I are absolutely here to serve you—just ask! -Rob McQuade -- (916) 444-7577.
Labels: Anatolia, Antelope, Arden, Carmichael, Central, Citrus Heights, Curtis Park, Del Paso Heights, Downtown, East Sac, El Dorado Hills, Elk Grove, Fair Oaks, Gold River, Granite Bay, Greenhaven, Laguna, Land Park, Meadowview, Midtown, Natomas Park, North Natomas, North Sac, Oak Park, Orangevale, Rancho Cordova, Regency Park, River Park, Rosemont, Roseville, Sacramento, South Land Park, South Natomas, South Sac, Southport, Tahoe Park, UCD Med Center, West Sac, Woodlake
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posted by Rob McQuade @ 7:17 PM,
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"Buy and Bail" is Mortgage Fraud
Wednesday, June 18, 2008
A Sacramento homeowner was recently quoted in the Wall Street Journal talking about her plans to purchase a "second home" and then let her current home—purchased in November 2006 for much more than similar homes are currently selling for—fall into foreclosure.
"I can find the same exact house as what I live in right now for half the price."But this practice, referred to in the mortgage market as "buy and bail", is considered by many in the real estate industry to be mortgage fraud. Fannie Mae, established in 1938 as a government agency but now a privately-held lending institution that provides financing to most of the nation's largest home mortgage lenders, is tightening regulations to prevent these abuses of the system. Individual lending institutions are reviewing their own lending practices and underwriting requirements and are watching for borrowers that are at risk of engaging in buy-and-bail.
Legitimate borrowers planning to take advantage of the current sluggishness in the real estate market to buy a second home or move-up property can expect tighter loan standards and will likely need to produce additional evidence.
Thinking about renting out your current home and moving up to something better? Here's what your lender will probably request from you:
- Supporting evidence to back up the claim that the current home will be rented out, including a signed lease agreement;
- Proof of income to support principal, interest, taxes, and insurance on both the current residence and the new property being purchased;
Labels: Anatolia, Antelope, Arden, Auburn, Carmichael, Citrus Heights, condos, Del Paso Heights, El Dorado Hills, Elk Grove, Fair Oaks, Galt, Gold River, Granite Bay, Lincoln, Meadowview, Modesto, Natomas Park, North Highlands, North Natomas, North Sac, Oak Park, Orangevale, Rancho Cordova, Regency Park, Rio Linda, Rocklin, Rosemont, Roseville, Sacramento, South Natomas, South Sac, Southport, Stockton, Tahoe Park, UCD Med Center, West Sac, Woodland
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posted by Rob McQuade @ 3:04 PM,
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What you need to know before buying a West Sacramento foreclosure
Thursday, June 5, 2008
For the last three years we've been talking about a "changing real estate market"®and the West Sacramento real estate market keeps on changing.
Six months ago I began urging friends, family, and clients on the fence to scrape together their down-payment dollars for either their first home purchase or to begin investing in real estate. I'll admit even I wasn't expecting us to be where we are now: in the past few weeks agents on my team have been competing with five, nine, 17, and even 42 other offers on some properties... Is it 2004 all over again?
So why is this happening?
There are two explanations, really:
First, after three years of doom-and-gloom media headlines locally and nationally, many who've been waiting for "the bottom" are realizing that prices are great (and in a lot of areas have returned to pre-2003 levels) and that even if values dip a little bit more they're still buying at a great time. Financing that was challenging in late 2007 has become a bit more available and old school financing (think FHA and VA loans) are back in full force and are great options. Sure, lending requirements are stricter than in 2004 and 2005... But not everyone who qualified for mortgage financing back then was really ready for ownership.
Second, the banks are doing funny things. Whether because they've been beaten down or they're simply not sure how to price their foreclosed properties, many are pricing those properties so far below the market that buyers swarm.
And this second issue has become a problem.
Over the past couple years I've had to educate clients that pricing a home competitively is especially important in the current market. In some cases the only way to get a home sold is to be the very best price in the neighborhood. But when a bank prices a home artificially low it hurts neighboring property values and, worse, gives many buyers false hope that they can afford to buy in a certain neighborhood. I don't blame the listing agents because their own hands are tied by the banks' pricing "procedures".
I'm seeing homes come on the market for $175,000 or $200,000 in certain neighborhoods and they're instantly getting a dozen offers or more. Because of the competitive nature of things, buyers are being forced to offer above list price and that home listed for $175,000 actually sells for $195,000. Or $205,000. Or, in extreme instances, $230,000. If a home is in reasonable condition, a decent location, and is priced near market then it's probably going to sell quickly. And this is in stark contrast to what many buyers have been lead to believe in the recent past about always offering below list price on bank-owned homes.
Is it really fair for a buyer in the $175,000 price range to have a $200,000+ property dangled in front of them and jerked away? And how long will this go on? Banks aren't typically turning on a dime right now—it's something more akin to turning a battleship. As property inventory fluctuates and new batches of REOs come on the market, it becomes clear that we'll probably be dealing with this issue for most of 2008. We can probably expect another wave of fresh foreclosures later this year and that inventory needs to be consumed by the market before we'll see things normalize.
For now, I recommend buyers become attuned to what's happening in the neighborhoods in which they're considering purchasing. If average homes in the area are typically selling at $250,000 and a comparable property comes on the market at $200,000, expect a lot of competition. This isn't to say that there aren't deals to be had—but some of the best deals are in the overlooked properties that need a little extra TLC or cosmetic work.
If you can handle a little painting and minor repair then I encourage you to look at the ugliest home in your favorite neighborhood. ;-)
Labels: Anatolia, Antelope, Arden, Carmichael, Citrus Heights, Del Paso Heights, Elk Grove, Greenhaven, Laguna, Meadowview, Natomas Park, North Natomas, North Sac, Rancho Cordova, Regency Park, Rosemont, South Land Park, South Natomas, South Sac, Southport, Tahoe Park, West Sac
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posted by Rob McQuade @ 3:28 PM,
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Brookings: Sacramento goes greener, shrinks carbon footprint
Sunday, June 1, 2008
Sacramento ranked 12th best in nation's 100 largest metro areas
In its recently released analysis, "Shrinking the Carbon Footprint of Metropolitan America", the Brookings Institution found that the Sacramento metro area decreased its per capita greenhouse gas emissions from residential and transportation uses by about 9% between 2000 and 2005, compared with a 1.1% increase across the 100 largest U.S. metro areas and 2.2% across the nation as a whole.
Newer housing options and increased demand for energy efficient or "green" features in homes (reflected in new urban developments such as 9 on F and the SoCap Lofts in Downtown Sacramento) have helped push Sacramento toward the top of the list.
The Brookings Institution is a nonprofit public policy organization based in Washington, D.C.
Looking to reduce your carbon footprint? Some quick and easy ways to do that include using alternative transportation (bus, light rail, and bicycle), living closer to where you work and play, and choosing a home that reduces your impact on the environment. Consider urban living, explore Downtown and Midtown Sacramento. You can also find out more about green living at Sacramento Green Living.
Labels: Carmichael, Central, Curtis Park, Downtown, East Sac, El Dorado Hills, Elk Grove, Fair Oaks, green, green homes, Land Park, Midtown, Rancho Cordova, Roseville, Sacramento, South Natomas, West Sac
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posted by Rob McQuade @ 10:46 AM,
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New! Search homes and condos quickly by ZIP Code
Saturday, May 31, 2008
Now you can quickly and easily search by ZIP Code with just a click! It's easier than ever to pull up homes and condos in your preferred ZIP Code by simply clicking the » By ZIP Code NEW! link under Quick Property Searches from the menu at the left. You can scroll through the list of available ZIP Codes in Sacramento, Placer, Yolo, and El Dorado Counties to bring up a convenient list of the first 200 homes and condos for each ZIP. And, as always, you can get news listings matching ALL your search criteria sent to your email inbox daily by clicking on the link under Resources for Buyers.
Labels: Anatolia, Antelope, Arden, Auburn, Carmichael, Citrus Heights, Curtis Park, Davis, Del Paso Heights, Downtown, East Sac, El Dorado Hills, Elk Grove, Elmhurst, Fair Oaks, Galt, Gold River, Granite Bay, Greenhaven, Laguna, Land Park, Lincoln, Meadowview, Midtown, Natomas Park, North Highlands, North Natomas, North Sac, Oak Park, Orangevale, Pocket, Regency Park, Rio Linda, River Park, Rocklin, Rosemont, Roseville, Sacramento, South Land Park, South Natomas, South Sac, Southport, Tahoe Park, UCD Med Center, West Sac, Woodlake, Woodland
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posted by Rob McQuade @ 10:42 PM,
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Do some (more) Good
Friday, May 30, 2008
Did you miss last weekend's open house at Good (LJ Urban's newest project at 4th & B in West Sac just off the I Street Bridge)? This just came from the fine folks over at LJ Urban:
 |  | Many of you have requested that we have another open house, so this Sunday we're going to head over from 5-8 and keep the doors open so you can come and take a look. Its not another big party like last time but for those of you who missed us last week, now's your chance to come see what the fuss is all about.
 1931 H Street, Sacramento, CA 95811 916.930.9400 ljurban.com |
Labels: Central, Downtown, green, green homes, Sacramento, West Sac
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