Sacramento Appraisal Blog

Market trends and real estate appraisals for divorce, estate settlement, loans, property tax appeal, pre-listing and more. We cover Sacramento, Placer and Yolo County. We're professional, courteous and timely.

The Stagger Inn & Blight in a Community

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The Stagger Inn in the City of Rancho Cordova has been a blight to the community for too many years, but it’s now gone. On April 1, 2010 a group of residents and city employees celebrated at the sight of a backhoe ripping into this dilapidated building that has been vacant for over ten years. The Stagger Inn was ironically demolished on April Fool’s Day with the idea that “It Isn’t a Joke” that it’s finally happening.

Blight impacts property value and even the ethos of a community. How have you seen blight affect property value, a particular neighborhood, or the way a community at large feels about a certain section of town?

I recorded the following video on the day of the demolition. Enjoy.

My Property Taxes Were Lowered by $36,622

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As you may know, I run a property tax appeal website for property owners in the Greater Sacramento Region. I help home owners dispute their property taxes when it makes good economic sense for them to do so (only if there is a savings to be had). I mention this because I am very pleased to have learned last week that the Sacramento County Assessor reduced my own property taxes by $36,622 after viewing the evidence I presented for a lowered opinion of value. They agreed with my value and the tax refund will be roughly $350. 

This is not a huge sum of money. There are certainly clients that will save $10,000+ because of the work my company provides. Yet at the same time, every dollar counts and I’d much rather save $350 than relinquish my hard-earned greenbacks to the local Assessor.

The wild thing is that these were property taxes for 2008. I turned in the Application for Changed Assessment in November 2009 and the Assessor just got back to me about these taxes last week – sixteen months later.

If you think you are a good candidate for lowering your property taxes, then it’s important to take action before the deadline for appealing property taxes comes (that’s either September 15 or November 30 depending on which county you live in). Had I not actually formally disputed my own taxes in November 2009, I would have been out of luck, and the Assessor would not be cutting me a check. I don’t know about you, but I’m a big fan of getting checks in the mail.

I’m happy to answer any questions. Give me a call at 916-595-3735 or shoot me an email at ryan@SacramentoTaxAppeals.com.

Graph of Sales in 95828 Zip Code of Sacramento

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I thought this might interest anyone living or considering purchasing in the 95828 zip code of Sacramento. What do you see? What stands out to you about this trend graph? All sales are based on information provided in Sacramento MLS (single family detached sales only).

Why won’t this property pass for FHA financing?

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I get a lot of questions about FHA / HUD standards and what a property needs to qualify. Here’s the deal: FHA is primarily concerned that everything in a house functions properly and that there are no health and safety issues. FHA continually says, “Soundness, Safety & Security” as their motto. As an FHA certified real estate appraiser, the inspections I do are based upon guidelines from the United States Department of Housing & Urban Development (HUD).

I was in the town of Locke a couple weeks ago and I snapped the following shot of a property I happened to pass. Do you think this property would qualify for an FHA loan?

Here is a sample of some of the things I look for while on an FHA inspection:

  • Appliances must be in functional use. If there is a hood, it must work. If there is a dishwasher it must work. If there is a stove, it must work…
  • The heating unit must be in working order (and AC if applicable)
  • Paint must not be chipping, peeling, or flaking on homes built before 1978. There must be no defective paint or exposed wood for properties built after 1978. If there is an issue with paint, it needs to be cured properly by actually scraping the paint instead of just painting over with new paint.
  • The water pressure must be adequate for the house. Appraisers flush toilets, turn on all faucets and ensure that both hot and cold water are working.
  • The water heater must be in working order.
  • The attic must be inspected and we make sure that there are vents, no evidence of a previous fire, no exposed or frayed wires, and that sunlight is not beaming through.
  • Attics and crawlspaces are to be viewed at least with head and shoulders into them (if present)
  • The crawl space must be inspected and we make sure there is not excessive debris or signs of standing water or any other foundation support issues.
  • Electrical outlets must work.
  • Toilets must flush and be mounted
  • No leaks in the roof.
  • The carpet does not have to be perfect (stains or minor tears okay). If there is a health or safety issue with the flooring, then that is a red flag.
  • A house does not need new interior paint.
  • Windows cannot be broken. Cracks can be okay so long as there is not an issue with safety, soundness and security.
  • No dangling wires from missing fixtures.
  • Water heaters must be properly attached with straps (local code says that water heaters need to be strapped and FHA requires water heaters to meet code).
  • Stoves are not required unless they are drop in stoves.
  • FHA doesn’t require air conditioning, insulation, smoke detectors or the like, but if they are there they must work as they were intended.

The photo above clearly demonstrates there might be a safety issue with the structure. It doesn’t look very sound, does it? Do you see any other violations of HUD minimum standards?

This type of knowledge is vital for first-time buyers, sellers and investors especially. Please let me know if you have any questions. I am glad to help buyers, agents, investors, brokers and anyone else know more about FHA standards and the appraisal process. FHA loans have really dominated the market in the Sacramento Region, so it’s important to be aware of potential issues that might make or break a deal. You can reach me at 916-595-3735 or ryan@lundquistcompany.com.

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