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Archive for September 2010

Gordon Biersch Coming to Roseville

Monday, September 27th, 2010

Are you ready?

Roseville is the site of new restaurant. Gordon Biersch plans on opening a new restaurant in Roseville near the Westfield Galleria Mall. This new Roseville restaurant will feature their hand crafted beers, along a full menu of fast casual dining. Soon to open, now scheduled for September 30, 2010

See article below,

Gordon Biersch plans tavern in Roseville

By Mark Glover

mglover@sacbee.com The Sacramento Bee

Published: Saturday, Sep. 18, 2010 – 12:00 am | Page 6B

Last Modified: Sunday, Sep. 19, 2010 – 10:53 am

The Gordon Biersch Brewery Restaurant Group said it will open a new Gordon Biersch Tavern on Sept. 30 at Westfield Galleria in Roseville.

The Chattanooga, Tenn.-based chain, which operates in 19 states, features “fast casual” dining and hand-crafted beers. Menu items include Kobe beef sliders, mahi-mahi fish tacos and garlic fries.

The tavern will be open daily from 11 a.m. to 9 p.m.

Read more: http://www.sacbee.com/2010/09/18/3038366/gordon-biersch-plans-tavern-in.html#ixzz10gy3VX2u

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Posted in Uncategorized | 1 Comment »

Pick The Right Sales Price

Thursday, September 23rd, 2010

Roseville Home for Sale or is it?

Many homeowners when they go to sale their home have high dollar signs in their eyes that can cost them a lot of money. Pricing you home at the correct price from the start can save you time, and frustration, not to mention money. In today market of distress properties, where it is foreclosures or a listing that is a short sale, the sale price of properties in Roseville and Citrus Heights are still on the decline and appears that we will still see prices soften well into 2011. Below is an article that has tips that home owners should keep in mind when selling their property. 

4 Tips for Setting the Right Sales Price

Sellers think their homes are worth more than their real estate professional recommends, and buyers think these same homes are worth less.

It’s a difficult disconnect that makes selling properties a challenge. Successfully marketing a home requires that the price be set carefully — or it will languish on the market. Among the considerations:

How many homes are for sale in the neighborhood? The more homes on the market, the more important it is to list at the lower end of the scale. “I want buyers to ask why is this house priced so competitively,” said NAR President-elect Ron Phipps of Phipps Realty in Warwick, R.I. “I want the answer to be an offer.”

Take short sales and foreclosures into consideration when pricing. If the competing properties are in lousy condition, they are less of an issue, but if they are well taken care of, yet priced 25 percent below market, they can be a serious factor.

Negotiate decisively. “Buyers are not interested in back-and-forth negotiations these days,” Phipps said. “They are less emotional and more disciplined. They will walk away.”

Cut the price when you have to. If no one shows up for an open house, if no one calls and if there are no offers, then the price is too high. That means it’s time to make a meaningful price cut.

Source: The Washington Post, Associated Press (09/18/2010)

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Posted in Homes for Sale | No Comments »

REO – Bank Owned Real Estate

Monday, September 20th, 2010

Shadow Inventory?

For the the last twelve to eighteen month we all have been hearing about the shadow inventory owned by the banks. These are the foreclosure homes that the banks have taken back from homeowners the could no longer afford to make their mortgage payment.You may soon see a number of Roseville foreclosures start to come onto the Market in the comes. Below is an article that I found on the subject.

Where Is the Shadow Inventory?

For the last year, the real estate industry has been talking about shadow inventory and the coming flood of distressed properties. Where are they?

Here’s what’s happening, according to a recent paper by Alan Mallach, a senior fellow the Brookings Institution:

· Some delinquencies have been resolved through loan modifications or people working out the problems on their own.

· Banks are getting better at managing short sales.

· Investors are aggressively buying up properties, sometimes in bulk, directly from the banks or at courthouse auctions so they don’t hit the market.

The likeliest outcome, Mallach predicts, is a steady flow of foreclosures over a long timeframe that will prevent another crash in home prices, but will probably lead to low or no appreciation in home prices.

Source: The Wall Street Journal, Nick Timiaros (09/16/2010)

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Posted in Foreclosures | No Comments »

Is It Time To Buy A Home

Monday, September 20th, 2010

Is it time to buy a home in Roseville or Citrus Heights? This is a question that I get asked a lot from clients, waiting to time the bottom for the market. I recently read this article and felt it was worth sharing.

10 Reasons to Buy a Home

Time magazine is being overly pessimistic in its recent cover piece that called into question the benefits of homeownership. In fact, now is a great time to buy. And, what’s more, tomorrow will be a great time to own, because the fundamental strength of homeownership hasn’t changed.

Why is now a great time to buy? Here are 10 reasons:

1. You can get a good deal. Prices are down 30 percent on average. They’re at a level that makes sense for people’s income.

2. Mortgages are cheap. At 4.3 percent on average for a 30-year fixed-rate mortgage, your costs to own are down by a fifth from two years ago.

3. You can save on taxes. When you add up the deductions for mortgage interest and others, the cost of owning can drop below renting for a comparable place.

4. It’ll be yours. The one benefit to owning that never changes is that you can paint your walls orange if you want (generally speaking; there might be some community restrictions). How many landlords will let you do that?

5. You can get a better home. In some markets, it’s simply the case that the nicest places are for-sale homes and condos.

6. It offers some inflation protection. Historically, appreciation over time outpaces inflation.

7. It’s risk capital. If the economy picks up, you stand to benefit from that, even if you’re goal is just to have a nice place to live.

8. It’s forced savings. A part of your payment each month goes to equity.

9. There is a lot to choose from. There are some 4 million homes available today, about a year’s supply. Now’s the time to find something you like and get it.

10. Sooner or later the market will clear. The U.S. is expected to grow by another 100 million people in 40 years. They have to live somewhere. Demand will eventually outpace supply.

Source: Wall Street Journal, Brett Arends (9/16/10)

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Posted in Buy a House | No Comments »

Roseville Foreclosures

Friday, September 17th, 2010

Here is an article that I recently read about foreclosures at may have an impact on the way you look at foreclosures in Roseville.

How do you feel about this article?

Wave of Foreclosure Sales Could Hurt Prices
More foreclosures could move onto the market as borrowers fall out of the government’s loan-modification program. That, coupled with weak demand, could lead to lower home prices across the board, suggests an article in the The Wall Street Journal.

Over the past two years, the pattern has become clear: the more homes that are being sold by lenders, the faster prices will fall. Ivy Zelman, CEO of research firm Zelman & Associates, says that distressed sales could account for 50 percent of properties sold by the end of the year – unless conventional sales recover.

Neither she nor Glenn Kelman, CEO of Redfin Corp., believe that there will be massive declines in prices because homes are already undervalued in many areas, but Kelman suggests that the decline could be 5 percent to 10 percent.

Should the government intervene again? Susan Wachter, professor of real estate at the University of Pennsylvania’s Wharton School, says that could be necessary if the bank sales trigger a downward spiral, “where price declines are feeding further price declines.”

Source: The Wall Street Journal, Nick Timiraos (09/13/2010)

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Posted in Foreclosures | No Comments »

Market Recap

  • Avg. Sales Price: 379,000

  • Avg. Days on Market: 69

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