Sacramento Appraisal Blog

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Sacramento Real Estate

How do you make a scatter graph with Sacramento MLS data?

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One of the tools in my real estate utility belt is making trend graphs. Why is this important? I find that being able to visually display all sales or listings on a graph is a very convincing resource. For example, when a home owner hires me to do an appraisal for bankruptcy or any other reason, and I include graphs of historic sales over the past three years, sales over the last twelve months, and then other graphs showing sales for 3-bedroom units, and properties similar in size to the owner’s house, it’s easy to begin to get a picture of what is happening in the real estate market. The great thing too is that you can graph so many different facets, whether square footage, age, date, bed-count, days on market, short sales vs. REOs vs typical sales, etc…

You can see some examples of trend graphs here if you wish. For now, I made a brief video tutorial to help local Realtors and real estate professionals in the Sacramento area export and work with data from our local MLS. It’s a huge benfit to be able to share things like this with clients, and once you have a little practice, you can crank out graphs very quickly. And don’t worry, if you don’t have Excel on your computer, simply download Gnumeric for free.

If you have any questions, let me know, particularly if you are a local Realtor. Call me at 916.595.3735 or connect with me on Facebook.

Dorothea Puente’s Duplex sold for $215,000

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Dorothea Puente’s locally famous duplex at 1426 F Street in Sacramento has sold for $215,000. This foreclosure property originally listed at $309,800 on 02/26/10 and eventually went to auction after a series of price decreases and over 150 days of market exposure.

This property has a notorious history (can you say “stigma”?) from the 1980s when seven bodies were found on the premises buried in the backyard. Dorothea Puente ran a “boarding house” at this location where she drugged and murdered  tenants to cash their social security checks.

More information? I wrote previously about this property twice: Would you buy Dorothea Puente’s house? and Dorothea Puente’s duplex is still on the market. Any takers? The Sacramento Bee published a Puente article yesterday and KCRA did a story too.

Rehab Project on 37th Street in Sacramento = Good News for the Oak Park Neighborhood

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What do you get when a builder runs out of money in the current economy, but is only half-way finished with a house? Answer: Probably a foreclosure. This was certainly the case with three 2,222 square foot 4/2.5 properties on the corner of 37th Street and 12th Avenue in the Oak Park Area of Sacramento. 

I am very pleased to see these foreclosures were purchased earlier this year in a bundle deal by the same buyer for $35,000 each, and they are currently being rehabbed. When I think of an area improving, this appears to be a win because improvement happens one house at a time, doesn’t it?

Put on your FHA Goggles: What does it take for a Sacramento area property to meet FHA standards?

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FHA loans have dominated the local market in the Sacramento area lately, haven’t they? This is why many buyers and sellers are paying careful attention to FHA guidelines. I get calls all the time from concerned sellers, prospective buyers, and real estate agents about FHA compliance issues. The question is usually, “will _________ be an issue for an FHA loan?”

FHA has a very specific set of minimum requirements. If you are planning to sell your house and you think the most likely buyer is going to be using an FHA loan, then strap on your “FHA goggles” to view your property like HUD does. Or if you are purchasing a house, it’s important to be aware of condition issues that may impact qualification for an FHA loan.

What does it take for a property to meet FHA minimum guidelines? 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. It’s okay if there is some deferred maintenance, but if there is any issue that may pose a threat to health, safety, soundness or security, then it needs to be solved. Examples might include chipping paint, mold, missing appliances, an inoperable HVAC, a broken water heater, dangling wires, trip hazards, etc… You can see a more detailed list of specific requirements in a previous post.

Quiz Time: Now that you have just a bit of information about FHA compliance, take a look at the image below. What do you see that might pose a safety risk and be unacceptable to FHA? Comment below.

Keep me in the loop if you have any questions or if you need to hire my “FHA goggles” to help you make a decision when selling or buying a house. And don’t worry, I don’t actually wear goggles like this on inspections. 🙂 You can reach me at 916.595.3735, on Facebook, or ryan@LundquistCompany.com.

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