I spent the bulk of today at the YPC Vendor BBQ at the Sacramento Association of Realtors. It was a very successful event that raised over $5,100 for the scholarship fund. Nice job everyone!! I paid for a vendor booth too, so it was fun to represent, mingle with friends and meet some new faces too. There were quite a number of Realtors wondering why I had a booth since appraisers can no longer be hand-picked for loans. But the truth is there are thankfully so many other avenues of business where appraisers and agents can still connect. Here’s a one-minute video I did while at the Vendor BBQ.
Thank you again everyone for making this day a great one. A special thank you to Michelle Kaspari of Essential Home Staging for doing an excellent job chairing this event.
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.
The history of permits in both counties seems to follow the same pattern in terms of an increase from 2000-2005 and then a major decrease from 2005 onward.
57% of sales were REO (bank-owned)
$13,000 was the lowest sale in the past 12 months.
I notice in this market there are a lot of condo complexes that cannot obtain conventional or government financing; which then tends to lower the value of the condo in that complex. As a lender I always want to know three things when my clients are interested in purchasing a condo. The first thing would be the Owner Occupancy Rate of the entire complex. This is important because most lenders / banks are not will to finance any complex with the Owner Occupancy Rate that is below 50 – 55%. The second item I like to look about is the HOA Fees and their Delinquency Rate. The HOA Fees are part of the borrower’s monthly expense and they need to be calculated into the borrower debt to income ratio for loan approval. Also if the entire complex HOA Fees are delinquent by 5% or more, this could also prevent most lenders / banks from financing in the complex. The third item I look for in a complex is to see if the complex is on the HUD / FHA condo approve site. Since most of my clients are applying for FHA financing, it is a good idea it check and see if the complex is already on the approval list. You can find a list of 
The biggest misconception that most people have about condos is that if it’s not on FHA’s list of approved condos, there is no way to do an FHA loan with that condo. Here at Mason McDuffie we have a special department that focuses on condo lending and helping buyers and realtors navigate through the unique aspects of condos loans. When a condo isn’t approved, we can do what’s called a spot approval. The process works much like an underwriter approving a loan. We will gather all the needed documentation and look at the project to make sure it’s a healthy and successful project. The last thing that we want is one of our buyers purchasing a unit in a complex that isn’t collecting enough funds (HOA dues) to support the maintenance and repairs or isn’t putting enough money into their reserve accounts. If the condo is on the FHA approved list already, it’s actually a quick and simple process to complete the loan. Here are a few things we need to verify: 1) To make sure the complex isn’t involved in any litigation; 2) That the delinquency rate is below 15%; and 3) That there is proper insurance on the condo project. This is something we collect for everyone to make sure everything is in order. If you have any questions, call my cell at 916-798-1234, office at 916-266-4181 or