Hot Market in Placer & Nevada County? June 2012

This past month I have seen our local market moving quickly.  Buyers are snapping up properties within just a few days of the home coming on market.  Condition from ” I would be afraid to walk in that house without a haz mat suit on” to beautiful well kept homes ready to move right in,  are selling within days of coming on the market across all price points.

Buyers more than ever you need to be ready with your loan pre-approvals and proof of funds.  Sellers if you want to or have to move now may be the right time again, (unless you are still dreaming of 2005 prices, then you should stay put for another 15 or 20 years)

Here is the latest market data ending in May for Placer County Single Family Homes under 400,000.

Now Nevada County is not quite as Hot as Placer, but some areas and price points (under $250,000) are moving quickly too.  What I see is that Nevada County Sellers have been slower to adjust to the new market reality or are willing to wait it out for their price.  Here is the market data for Nevada County

Want more data or a different area? I will be happy to set you up on Trendsend, just let me know via email what area and price points.

Teri Andrews-Murch, Realtor, Ca DRE 01734030 ph 530-798-0215 Lyon Real Estate, Auburn, Ca. www.FoothillsHotProperties.com

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Hwy 40 Hot Rod Show Colfax, Ca

A nice pleasant day for the Hwy 40 Spring Hot Rod show in downtown Colfax.  Our 6th show.  The Kiwanis served a yummy breakfast and lunch, hot off the grill.

About 60 cars were in attendance and a couple of hundred visitors.  One of my favorite cars is the maroon Town & Country Station wagon, so classic.   I hung out in front of the Whistle Stop Quilt shop with my sewing machine and got a few projects completed, bought a new purse at the Bear River Trading Company, had lunch at Cafe Luna, wonderful fresh made tacos carnitas.  A great day in Colfax supporting small business and having fun. Next community event July 3, 2012summer purse

Teri Andrews-Murch, Realtor, Ca DRE 01734030                                                                ph 530-798-0215 Lyon Real Estate, Auburn, Ca.     www.FoothillsHotProperties.com

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Seniors & Youngsters Together

Spending time with Grandma

As a child I spent a lot of time with my Grandparents.  One Grandma was widowed in the early 60’s, she was the creative Grandma and I loved to spend time with her in the garden and sewing room.  She had this closet full of fabric to choose from filled with endless possibilities.  Her garden was a delight of flowers and fruit trees and in the evenings her hands were always busy making something while watching Spanish soap operas.

My other Grandma pictured above always liked to travel,   Every Sunday would be an excuse for a drive and picnic by the side of the road.  My Grandfather loved to tinker and build things in the garage, it is from him that I learned about tools and most importantly about the golden rule, treating others as I want to be treated, sharing what I have and living within my means.  The things they taught me stay with me still.

This month in the AARP Bulletin (May 2012) there was a short article about a nursing home in Oklahoma (my Grandfather’s home state) where they have incorporated pre-school and kindergarten classes into the facility.  What a great idea!  I will never forget the time I spent with my Grandparents and I think it is wonderful that this facility gives the children and seniors an opportunity to share joy and wisdom.  I hope this becomes the next “big thing” in elder care.

Happy Mother’s Day

Teri Andrews-Murch, Realtor, Ca DRE 01734030                                                                ph 530-798-0215 Lyon Real Estate, Auburn, Ca.     www.FoothillsHotProperties.com

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Yes Virginia Even You Need to Get Pre-Approved

Here in the Auburn area we are experiencing a little buyer frenzy, with some properties bringing multiple bids within hours of coming on market.   I see on the various Q & A sites* I participate in many questions from buyers wondering why their offers were not accepted and how can they better their chances of getting an accepted bid.

The number one task you should have completed BEFORE you start your home search & writing offers is getting a pre-approval letter from the lender of your choice. I can hear you now “ahh Mom do I have to???”  Yes you do!  I know it is painful to gather up all your financials and lay them out before a perfect stranger, but if you are not paying cash or getting a loan from the Bank of Mom you have to do this.  Gone are the days of stated income, now everything will be verified and re-verified by your lender (as it should be).

Your pre-approval & proof of closing funds will be submitted with your offer and without it many sellers, especially the foreclosure sellers, will deposit your offer directly into the trash no matter how good it is.  .

Other considerations:  Know the realistic pricing for the area you are looking in.  Did the seller set a below market price hoping for a bidding war?

Be realistic with what you can afford for your budget.   Have your agent run sold information for your budget, does the home you are dreaming about even exist in that price range?  Where does that home exist?  Maybe you need to change cities or features.

Start looking at homes that have been on the market longer than 30 days and may have been overlooked by other buyers, is there room for  negotiation?

Keep it (your offer) simple!

*Links to Real Estate Q & A sites I participate in: Trulia   and Ask A Realtor

Realtor.com Spotlight Interview

Teri Andrews-Murch, Realtor, Ca DRE 01734030                                                                ph 530-798-0215 Lyon Real Estate, Auburn, Ca.     www.FoothillsHotProperties.com

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Reflections of Marriage & Home Ownership

Grandma Zs house

Last weekend some friends of ours celebrated their 20 year wedding anniversary with a renewing of vows.  For me going to a wedding always brings some self reflection on the past and future.  The reminder that we are in it for the good and bad.  My mind wandered to and fro and of course landed in thoughts of real estate (I can’t help myself!) and how our relationship to our homes is somewhat like a marriage.

We fall head over heels in love and have fantastic storybook dreams of our future together.     Then as we live in it for awhile we begin to notice the door that doesn’t quite shut or the color that doesn’t excite us any more.  So we begin to change and improve, reshape and re-evaluate.   Sometimes we decide to stay and sometimes we go.  Time goes by and the annoyances either get fixed, fade into the background or become quirky unique features we couldn’t live without.  If we are lucky enough to make it to our 30 year anniversary we are rewarded with a paid off house to enjoy the rest of our days in and a home full of memories and stories.

Have a great weekend.  Enjoy your home and your spouse.

Teri Andrews-Murch, Realtor, Ca DRE 01734030                                                                ph 530-798-0215 Lyon Real Estate, Auburn, Ca.     www.FoothillsHotProperties.com

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What Can I Learn from a Turkey?

wild turkey flock

Colfax is a rural area and I live on a couple of acres surrounded by pines and oaks.  I have a steady stream of wildlife traffic going by my home office window.  Every spring the turkeys come back from their winter hiding and provide me with my early morning and dusk entertainment.

There is a ritual every dawn that I have observed for several years, one lone turkey (a hen) comes down from her pine tree roost and paces about making little clucking noises, this goes on for about 20 minutes.  After awhile she begins to also make a bit louder calls to her friends still up in the trees as if to say it is safe to come down.   Eventually the other do come crashing down, loud flapping of their large wings and bouncy landings.

For a long time I have thought of the lone hen as the low one on the totem pole or the sacrificial hen sent down there to see if there were any coyotes lurking about.  This year when the ritual started up again I began to see her as the risk taker, the leader if you will.  Taking the first leap out of the safety of the pines and letting the others know it is ok, I am here to lead you on our adventure today, don’t be afraid, see I did it, you can too.  I kind of like my new version of the turkey morning ritual and wish her well every morning as she is the first to greet the new day ripe with possibilities.  So I am going to get out there and embrace the day no matter what my imagination thinks is waiting outside my “roost”,  after all if a turkey can do it what am I waiting for?

I will save the dusk ritual for another day……………

Teri Andrews-Murch, Realtor, Ca DRE 01734030                                                                ph 530-798-0215 Lyon Real Estate, Auburn, Ca.     www.FoothillsHotProperties.com

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Has the Real Estate Dam Sprung a Leak?

Unlike in the fable I don’t think anyone will be trying to plug these leaks.  I have noticed in the past few weeks we are finally seeing some “cracks” in the dam holding back home sellers.  There has been an increase of homes being listed and quickly snatched up by thirsty buyers in just a few days.  The “regular” sales are showing up in greater numbers competing nicely against the bank owned REO’s and short sales.  Is the market changing?  Time will tell, and I can’t help myself but I am hopeful.

I love numbers, so here are some to consider:

For Auburn to Alta

New listings of single family homes since March 1, 2012:

109 new listings (26 are short sales, 21 are bank owned)

77 went pending (17 are short sales, 25 bank are bank owned)

Also 37 short sales received offer that have been sent to their lenders for approval (in real estate agent lingo Short Sale Contingent)

26 of the pended sales were just listed in March

64 sales closed (12 short sales, 20 bank owned, 32 regular sales)

23 of the closed sales had been on the market less than 30 days

And March is not over yet!

January & February 2012 had 102 new listings each,  January had 79 pended, 43 sold, while February had 112 pended and 61 sold.

Data provided by Metrolist and Trendgraphix

Want to play with numbers more?  You see more market data for various areas on my website.

Teri Andrews-Murch, Realtor, Ca DRE 01734030                                                                ph 530-798-0215 Lyon Real Estate, Auburn, Ca.     www.FoothillsHotProperties.com

 

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Colfax is Blooming

All Photos by Teri Andrews-Murch

Teri Andrews-Murch, Realtor, Ca DRE 01734030                                                                ph 530-798-0215 Lyon Real Estate, Auburn, Ca.     www.FoothillsHotProperties.com

 

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Buyers: Getting From Window Shopping to In The Door

Question:  Buyers with all the tools available these days to window shop from home for a new house when do you decide to take the next step?  Do you know what is the next step?

In the “old” days (pre-Internet) if you were thinking of buying a home you might spend a few  weekends driving around the neighborhoods, maybe visit a couple of open houses and then go see a real estate agent, who would point you to a lender and then with your budget set start going through the big book of listings.   For those of you that have never seen “the book”  it was quite interesting, pages and pages of homes with grainy black and white photos of the front printed on thin paper, never quite up to date because it didn’t come out everyday.

Now you can search from the comfort of your home, have new listings sent to your inbox on a daily basis, with color photos, virtual tours, aerial views, street views…….a visual feast.  So at what point do you get off the couch and where do you go once you are out the door?open door

In my opinion the start for every project after you have identified that you have the desire or need is BUDGET.  No matter if you are buying a new pair of shoes, a car, or a house you will have a budget.  For buying a home your budget is determined by either the size of your bank account if you are paying cash (or your parents bank accounts if you are using The Bank of Mom) or how much a lender is willing to lend you.  Your budget determines if you can start looking where you want to be or if you need to adjust your criteria and look elsewhere or wait.

Going out to talk to a lender or two can be painful for many of us, you have to face financial reality, you have to share your information with most likely a total stranger.  It takes a leap of faith and trust, but without that budget number you are just window shopping without a plan.  Find a lender that will take the time to explain the process and answer your questions, if you are walking out of their office more confused than when you went in, that might not be the lender for you.

Tired of window shopping? Take action & go see a lender!  You might get in that new home sooner than you thought.

Teri Andrews-Murch, Realtor, Ca DRE 01734030                                                                ph 530-798-0215 Lyon Real Estate, Auburn, Ca.     www.FoothillsHotProperties.com

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