Posts from — January 2010

I was in the Capital Village neighborhood of Rancho Cordova today and I snapped the following picture. I like the way the white sky in this photo blends with the background of the website. It’s been foggy and cloudy this week in Sacramento. 

www.SacramentoTaxAppeals.com has a helpful free service for home owners in the Greater Sacramento Region. You can sign up to receive text message reminders for important property tax dates and deadlines. This free service will remind you when new assessments become available, the first day you can appeal property taxes, and the last day you can contest your assessed value.  

The short video below shows you how to sign up for free. It’s so easy!!! We’ll only text you a few reminders. We will not call you. And we will never share your phone number with anyone.

This service is available to anybody located in the continental United States who owns property in the Greater Sacramento Region, Central Valley & Bay Area. Standard text messaging rates may apply from your carrier. Sign up now for free at www.SacramentoTaxAppeals.com.

I buy into the idea of establishing a solid online presence as well as using techie tools to connect with people. That’s why I have multiple websites, a blog, Twitter account, YouTube page, and I’m on Facebook too (among other things). What I don’t buy into though is that having all these things alone makes a business successful or even more marketable. After all, you can look the part and play the game, but still reap no greenbacks, right? 

Internet and social networking avenues are important (crucial) for many businesses, but nothing replaces face time with existing and prospective clients. I’m no expert, but getting in front of people and building authentic relationships is irreplaceable. Sure, I understand that relationships are built online. I know. I do it everyday and I enjoy it too. All I’m saying is that when all is said and done, there is still something special about contact in person with clients. 

Business is about relationship, so if you are looking to drum up more work in 2010, then find ways to get in front of people both online and in person.

I heard of AppraiserSupport today, and this website is worth a look to see one of the core complaints about the Home Valuation Code of Conduct (HVCC). Certain AMCs (Appraisal Management Companies) are charging Borrowers big money for appraisals, but then turning around and giving appraisers less than 50% of the amount charged, while pocketing the rest of the fee. Ouch!!

The AppraiserSupport website lists a handful of these AMCs - what they charge and what they pay appraisers. Don’t get me wrong though. Despite the “AMC” topic being a sore subject around many appraisers, there are definitely some upstanding AMCs out there who respect appraisers and pay them reasonable fees too (I do business with a handful of the “good guys”). It’s just unfortunate to see what some AMCs are doing because it hurts the consumer, the appraiser trying to stay afloat in this economy, and definitely the overall quality of real estate appraisals (HVCC only applies to certain types of loan appraisals). 

Have a look at www.AppraiserSupport.com and let me know what you think. And just so you know, I did not build this website.

For more on HVCC, have a look at my “Talking to Appraisers in an HVCC World: Tips for Real Estate Agents” and “Can Realtors Still Talk to Appraisers After May 2009? (HVCC went into effect on 05/01/09)“.

I’m working on an appraisal right now, and I learned from a local agent that a household near the subject property was the recipient of a violent crime in the past. Even though the homicide did not take place on the subject parcel, it still has to be disclosed to potential buyers because the seller is aware of the situation. Do you think this might impact marketability for some buyers?

I was able to find out more about the crime by doing a Google search of the name and property address of the deceased. Additionally, I checked out the Sacramento County Crime Mapping website. It’s amazing what you can find online in just a matter of minutes.

If you work in real estate, have you sold or appraised a house before that had a stigma due to some sort of heinous crime? What impact did you see in the marketplace? How did potential buyers respond when learning about the crime? If you were on the hunt for a home, would you consider purchasing a property where a murder or violent crime took place?

Sad situation.

Have you attempted to get your home loan modified? Were you successful? Or did the bank deny you? Have you seen family members or friends modify their loans? What was it like to communicate with the bank during this process? Did the bank ever lose your paperwork? What advice would you give to home owners considering a loan modification?

I would love to hear your comments below. Please share your story and feel free to use a pseudonym if that makes you feel more comfortable. Thank you.

I snapped the image above in Olivehurst CA while on an appraisal inspection today for a bank-owned property. I used the “Obama Cam” app on my Android phone. This application overlays an image of President Obama (17 to choose from) on any picture taken with my mobile phone. In light of recent news that Obama’s Making Home Affordable program has only seen 4.3% of applicants receive a modified loan, I think the image above is powerful. The photo simply juxtaposes a governmental program with a real life distressed situation (vacant lots surrounded by other property owners who purchased at the top of the market and are now struggling with a high level of foreclosure).

The truth is that many home owners are reaching out for help (modification), but not finding any. I’m reminded that good intentions in Washington DC do not necessarily translate to good results on “Main Street”. Let’s hope to see greater success in this arena during 2010.

NOTE: This image above is in no way meant to belittle the President, make a political statement for any political party, or even rant about the Making Home Affordable program. By the way, I do NOT do loan mods and I never plan to. I am a real estate appraiser by trade and I think this is a very important issue for conversation.

Here is a new audio post. As we consider goals for the new year, let’s consider being intentional about being good neighbors in very practical and simple ways. Life is better when we get to share the journey with people around us – even neighbors.  Let me know if you have tips to add to the list.

By the way, this “podcast” was made with Google Voice by leaving a message on my phone and then embedding it online. What a useful tool for podcasting. Please note if you subscribe by RSS, you’ll need to click the post title in your email to listen to the podcast.

Rancho Murieta is a CDP in Sacramento County off of Jackson Road and has somewhat of a secluded feel due to its location miles away from other suburban tracts. The community consists of two separate parts called Rancho Murieta North and Rancho Murieta South. Rancho Murieta is a retirement community to many, and is also attractive to many families. As of November 2009 Rancho Murieta has the second lowest unemployment rate in Sacramento County at 3.9% per EDD (Gold River is 2.1%).

What’s been happening the Rancho Murieta real estate market? Below are two graphs consisting of all single family detached sales and listings in Rancho Murieta per Sacramento area Metrolist. What do you see? Does anything stand out to you?

I’d be very curious to hear from home owners in Rancho Murieta about their community. What do you enjoy most about RM? What do you think your neighborhood has to offer to prospective buyers? How has Rancho Murieta fared during the housing bubble burst? What sort of impact do you think the foundation troubles in Rancho Murieta South has had on the RM market?

By the way, if you are looking for an image of houses in Rancho Murieta South that had foundation problems, email me at ryan@lundquistcompany.com and I’ll get that to you. An appraiser colleague in Folsom provided this image to me and it may prove informative for your needs.

Here is a brief podcast recap of the 2009 real estate market in general in the Greater Sacramento region. What will 2010 have in store for us? Do you think the market will surge, stabilize or decline? Do you feel like now is a good time to buy? Your comments are welcome below.