If there is one conversation dominating real estate right now in Sacramento, it’s definitely the shortage of listings. It’s wild to think there is only about a one-month supply of inventory on the market. This means buyers have had to duke it out (not literally) to get into contract. Also, multiple offers and offers over asking have become much more common too.

But why is inventory low? Is it because of a coming “wave” of foreclosures or a “shadow” inventory? Do sellers have less confidence in the market? Do banks have something to do with it?

I talked with Eric Peterson of Praxis Capital about the issue of low inventory. Eric’s company pays very close attention to the market as they flip about 125 houses a year in the Greater Sacramento area. Watch the video below (or here).

What do you think? Anything else you’d add? Is there a looming shadow inventory? If you are an agent, buyer or seller, what’s it been like in the trenches for you lately?

If you have any questions or Sacramento area real estate appraisal or property tax appeal needs, contact me by phone 916-595-3735, email, Twitter, subscribe to posts by email or “like” my page on Facebook

I mentioned a couple of weeks ago about a panel I was sitting on dealing with social media in the real estate field. This event was hosted by the Sacramento Social Media Club, and it took place a few days ago. Since the discussion was recorded live on Ustream, I wanted to share the conversation below (or click here).

The video is over an hour, so it’s really perfect to play in the background while you work, cook or exercise. Personally, that’s how I digest longer videos and podcasts since I’m short on time. I hope you enjoy the panel and maybe even pick up a few nuggets to use as you establish a strong online presence for your business. The conversation is focused on real estate, but the principles are really applicable to any business – not just real estate. Panelists include Heather Ostrom, Tamara Dorris, Laura Monroe and yours truly (moderated by Chris Little). Enjoy.

What stood out to you? Anything you’d like to add? Questions? Comments?

If you have any questions or Sacramento area real estate appraisal or property tax appeal needs, contact me by phone 916-595-3735, email, Twitter, subscribe to posts by email or “like” my page on Facebook

It’s bike month in the Sacramento area and I’m excited to get to ride to an appraisal inspection today for a total of 20 miles. Since the property is fairly close to the Sacramento River anyway, I’ll get to enjoy some of the trails in Rancho Cordova and then exit Hazel Avenue into Fair Oaks. This year I’ve pledged to ride 100 miles during May, which should be fun, but I’m even more excited that my boys are doing it with me. My 8-year-old will be riding 33 miles and my 6-year-old will be riding 16 miles.

Speaking of bikes, I’m also riding in the Project 680 Underwear Ride on May 19 to help raise awareness for student homelessness and gather new underwear for homeless students. This will be a 26-mile ride (roundtrip). Project 680 is close to my heart and a cause I pour my heart and time into. Would anyone like to ride with me? I hear Keith Klassen is coming.

Have you pledged to ride for bike month?

If you have any questions or Sacramento area real estate appraisal or property tax appeal needs, contact me by phone 916-595-3735, email, Twitter, subscribe to posts by email or “like” my page on Facebook

I’ll be sitting on a panel at an upcoming event called “Social Media and the Future of Real Estate”. I’d love for you to come check it out on May 8 at SAR HQ at 6:30pm. If you cannot make it in person, the event will stream live on Ustream or you can follow it on Twitter with the hashtag #SMCSAC. But let’s face it, it would be nice to meet up in person. The Sacramento Social Media Club describes the event as follows:

Social Media is a Real Estate Game Changer– How do you create a meaningful social media balance?

Social media and the internet have transformed the way real estate professionals connect with their community. Many have embraced it and some are struggling or resisting the inevitable. Throw in facebook, Twitter, YouTube, Google+, Pinterest and a vast amount of growing networks and it can be downright overwhelming!

Presented by Social Media Club Sacramento, a panel of Real Estate professionals who have had success with social media will discuss social media best practices, how to balance your professional with your personal brand and how social media impacts real estate today.

Panelists include: 

Heather Ostrom, Realtor®, Coldwell Banker Sun Ridge, @RosevilleRockLn
Ryan Lundquist, Appraiser, Lundquist Appraisal Company, @SacAppraiser
Tamara Dorris, Realtor®, Davis & Davis, @tamaradorris
Laura Monroe, Virtual Assistant, Creative Agent Solutions, @LauraMonroe

Moderator: Chris Little, Real Estate Broker and President Elect of Sacramento Association of Realtors, Little Real Estate Services, @Chris_Little

For more information check out the Eventbrite page and the Facebook event page. Let me know if you have any questions. I hope to see you there.

If you have any questions or Sacramento area real estate appraisal or property tax appeal needs, contact me by phone 916-595-3735, email, Twitter, subscribe to posts by email or “like” my page on Facebook

Definition: A “parcel mullet” refers to the phenomenon of having a well manicured short lawn in the front yard, but a wild long yard in the back. Or in laymen’s terms, business lawn in front, party lawn in the back. If you didn’t know, the mullet is a hairstyle that is short at the front and sides, and long in the back (Wikipedia).

Examples: 1) “Nobody would’ve ever known Tammy had a parcel mullet since her house looked so cute from the front.”  2) “Jim, your house is looking great. All you need to do before we list it on the market is a bit of touch-up paint in the hallway and well, chop the parcel mullet.” 3) “Randy’s parcel mullet didn’t impress his in-laws, but neighbors love him for keeping the street looking nice.”

Origin of Word: This word came about during a conversation on Twitter with Heather Ostrom (@RosevilleRockLn). I had mentioned the way my front yard was neat and tidy, but my back yard was a jungle. Heather then alluded to the mullet concept (genius), which led me to think of the term ”parcel mullet”. I don’t know about you, but while I keep the front yard constantly short throughout the year, I tend to let my backyard grow wild from December to March until most of the rainy season is finished. Or in other words, I grow a parcel mullet in the Winter each year (as seen in the image below). I actually enjoy mowing my lawn too, so no matter how busy I’ve been throughout the years, I have never hired a gardener. I guess I’m old school like that. Check out the Twitter feed to the right to see a portion of how this new real estate word emerged.

Neat & Tidy Lawn: In all seriousness, having a well-manicured lawn does make a difference with how buyers, passersby and community members might perceive a household or even a neighborhood if front lawns are perpetually overgrown. As I wrote about in Thou shalt mow thy lawn to decrease blight, “Unkempt front yards are actually a very big deal because people will judge a community based on what it looks like. Is this a place where residents invest in their neighborhood or have they stopped believing in the future of their community?” In short, mowing the lawn in the front is a free way to help boost neighborhood pride and show the community that neighbors care about the image of the community. Regarding the backyard, if you’re not selling, feel free to grow out a parcel mullet. But if you are selling, it’s time for a haircut. 

Disclaimer: This post is in no way meant to offend anyone who has had a mullet, currently has one or will have one. It’s simply a fun way to describe a realistic yard scenario (even on my parcel).

Lastly, thank you Heather for the funny mullet photoshop job. This was a great laugh after a long day!! Click the image to the right if you wish. I hope you enjoyed the post.

If you have any questions or Sacramento area real estate appraisal or property tax appeal needs, contact me by phone 916-595-3735, email, Facebook, Twitter or subscribe to posts by email.

I’m available to teach the following classes for real estate or law offices. Each class can be tailored to fit a time slot in your office meeting. If any of the classes below sound relevant for your company, let’s set up a date. I prefer groups of 10 or more where possible and 30-45 minutes to have discussion. As long as you are local, there is no charge. This is a great way for me to share solid information and build relationships with local agents and offices. I look forward to connecting soon.

Overview of FHA Property Standards: Since FHA has been so dominant in the market, it’s important to understand the nuts and bolts of what appraisers look for during an FHA appraisal inspection. What does it take for a property to meet FHA minimum requirements? This class will help when listing and marketing a property as well as communicating with loan officers too. See my FHA appraisal articles for reference.

How to Challenge a “Low” Appraisal: Have you had a bad appraisal on one of your deals? What can you do when an appraisal comes in lower than it should? This class goes through a specific format to help you prepare a solid reconsideration of value. We’ll discuss fundamentals about reviewing an appraisal report (what to look for) and specific ways to challenge a low appraisal. Bring your laptop if you have one since we’ll be looking at a Word document together (you’re fine without one too).

Effective Blogging for Real Estate: Real estate blogging has been a big part of my business and it’s something I enjoy doing too. Blogging is an opportunity to share knowledge, build relationships and connect with existing and potential customers. If done right, a blog can help build credibility and expertise for your real estate business as well as serve as a place where potential clients can feel you out before deciding to do give you a call. This class is full of tips, how-tos and gives a framework for creating original content too. Check out “tips for real estate blogging” to get a sense of my blog philosophy.

How to Make Solid Real Estate Videos: Video is a very powerful tool for sharing information and connecting with clients. A good video can help build trust and convey professionalism for your brand, but a bad video can accomplish the opposite. This class will be very practical as we discuss how to create videos that help you stand out (in a good way). We’ll actually edit a video in class so agents can have hands-on experience knowing what to do. I create videos regularly for clients, non-profit ventures, my Sacramento appraisal business and to promote YPC events through the Sacramento Association of Realtors. I also started a real estate video site called “Sacramento Real Estate Tube”.

Introduction to Appraising: This class is great for new agents, lawyers or loan officers to help get them up to speed on the appraisal process. We will look at a common appraisal form to get a good grasp of what an appraiser looks for and how an appraiser does his job. We’ll also discuss practical tips for interacting with appraisers (things to say and not say). While a class of 10 or more is usually preferred, lower numbers are more understandable for an introduction like this.

Let me know if you have any questions or if you want to book a class. Call, email, or text message and I’ll get back to you promptly.

If you have any questions or Sacramento area real estate appraisal or property tax appeal needs, contact me by phone 916-595-3735, email, Facebook, Twitter or subscribe to posts by email.

I met up with Realtor Steve Ostrom the other day while at Real Estate Bar Camp Sacramento (a great event). Steve interviewed me and we talked about home owners getting an appraisal before listing a home, finding comps and other issues. Check it out and let me know what you think.

Catch up with Steve and his wife Heather at www.rosevilleandrocklin.com or on Facebook or Twitter. Thanks so much Steve & Heather.

If you have any real estate appraisal, consulting, or property tax appeal needs in the Greater Sacramento Region, contact me at 916.595.3735, by email, on our appraiser website or via Facebook. 

There are many requirements for a property to qualify for an FHA loan. It’s important to understand all the little things if you are considering getting an FHA loan, selling your Sacramento area house or listing a property for a client. If you didn’t know, FHA loans comprised 28% of the market in 2010 in the Sacramento area, so details like this are very important.

In this video I take one minute to discuss the importance of water heater straps and self-closing garage doors. You can view other videos and FHA content here. Keep me posted if you have any questions.

If you have any real estate appraisal, valuation consulting, or property tax appeal needs, contact me at 916.595.3735, www.LundquistCompany.com or via Facebook.

After a meeting at Sacramento Association of Realtors HQ yesterday, Rico Rivera of Old Republic Home Protection pulled me aside to do a little interview. He wanted to talk shop about property tax appeals as well as second appraisals. This was a spur of the moment brief conversation. I wish I would’ve added a few extra bits of information, particular about second appraisals, but that’s how impromptu dialog goes. Thank you Rico for the opportunity and for all you do in the community. Keep up the tremendous work. Watch the video here or below.

If you have any questions, give me a call at 916.595.3735, catch me on Facebook, or contact me through my website at www.LundquistCompany.com.

This morning I was interviewed on Capital Public Radio’s “Insight” program hosted by Jeffrey Callison. This program airs to the Greater Sacramento Region in several counties on multiple stations. I didn’t talk “shop” (real estate), but instead I shared about the Project 680 Hoody Drive for a few minutes. Overall the interview went okay. If you’d like, click HERE to listen to the interview on Cap Radio’s website. I’m at the very end near the 45:30 marker. Now I’m off to finish some deadlines. It’s been one busy week and it’s only Tuesday!!!

I am very pleased to share that Lundquist Appraisal Company has become a member of the Rancho Cordova Chamber of Commerce. Since my HQ is located in Rancho Cordova and I already have so many great business and personal connections in the community, it only made sense to formalize a bit and earn a plaque for my office too. It’s good to see the Chamber offering members a free webpage too. I got on that quickly a few weeks back when I joined.

Do you belong to your local chamber of commerce? What benefit have you noticed, and what value have you given?

I wanted to share a website I launched today called www.goodneighborTV.com. It’s really for anyone – not just locals in my neck of the woods. It’s about community, conversation and improving neighborhoods. These are some of my very favorite topics in life. But in truth, they’re far more than mere conversations because I’m all about putting ideas into action. I should mention it’s all video too (hence the “TV”).

I have two posts up to kick things off: What does it mean to be a good neighbor? and Socks, underwear, and a sense of vision for my community. I’d love for you to check out the site if you’d like, “like” on Facebook, and let me know what you think.