Oak Park Real Estate | Oak Park homes, condos, townhomes and rental properties for sale

Forbes: Sacramento's one of the least toxic cities in the US
Wednesday, November 4, 2009

Listed: Sacramento ranked 2nd least toxic city of 40 major metros

Forbes magazine recently reviewed the nation's 40 largest metro areas and ranked Sacramento the 2nd least toxic city (behind Las Vegas, NV) based upon information from the U.S. Environmental Protection Agency including Superfund sites, facilities producing toxic chemicals, the total pounds of certain toxic chemicals released, and air quality readings. Selected rankings are shown below, you can view the full chart here).

Ranked
Selected cities ranked from least toxic to most toxic (as reported by Forbes magazine, November 2009):

Las Vegas - Paradise, NV Metro Area

Sacramento - Arden-Arcade - Roseville, CA Metro Area

Riverside-San Bernardino-Ontario, CA Metro Area

Austin - Round Rock, TX Metro Area

Seattle - Tacoma - Bellevue, WA Metro Area

San Diego - Carlsbad - San Marcos, CA Metro Area

Virginia Beach - Norfolk - Newport News, VA-NC Metro Area

San Jose - Sunnyvale - Santa Clara, CA Metro Area

New York - Northern New Jersey - Long Island, NY-NJ-PA Metro Area

Phoenix - Mesa - Scottsdale, AZ Metro Area

Also on the list are Denver, CO (14th), Minneapolis, MN and San Francisco, CA (tied for 15th), Portland, OR (31st), and Los Angeles (34th). Atlanta, GA finished the list in 40th place.

Labels: Citrus Heights, Curtis Park, Davis, Downtown, East Sac, Elk Grove, Laguna, Land Park, lists, Midtown, Oak Park, Rancho Cordova, Roseville, Sacramento, West Sac

posted by Rob McQuade @ 7:34 AM, , links to this post

Rob's on Facebook and Twitter!
Saturday, June 13, 2009

I don't blog as often as I'd like, but you can follow me on Twitter for more frequent updates and add me on Facebook if you'd like to find out what's going on regularly in the local real estate world. Have questions? You can always email me or you can send me a message via Facebook or Twitter.

Follow me on Twitter
Add me on Facebook

Labels: Curtis Park, Downtown, East Sac, Elk Grove, Land Park, Midtown, North Natomas, Oak Park, Roseville, Sacramento, West Sac

posted by Rob McQuade @ 1:33 PM, , links to this post

Forbes: Sacramento's experiencing a "mini boom"
Friday, January 16, 2009

Attention, fence-sitters: I'll keep this brief.

Forbes' Matt Woolsey reports this week that experts named Sacramento as one of the top 10 cities where it makes the most sense to buy:

1. Las Vegas
2. Sacramento, Calif.
3. San Diego, Calif.
4. Los Angeles
5. Detroit
6. Phoenix
7. San Francisco
8. Washington, D.C.
9. San Jose
10. Atlanta

You can read more here.

Source: Forbes, Matt Woolsey (01/12/09)

Labels: Fair Oaks, North Natomas, Oak Park, Old Sac, Pocket, Regency Park, Rio Linda, River District, River Park, Rosemont, Sacramento, South Land Park, South Natomas, South Sac, Tahoe Park, UCD Med Center, Woodlake

posted by Rob McQuade @ 5:37 PM, , links to this post

FAQs: What is the California foreclosure timeline or process?
Tuesday, December 2, 2008

Q: What is the timeline for the foreclosure process in California? When does the process start and end?

Asked by an anonymous web visitor in East Sacramento

A: This is a question I get asked a lot by both people who are experiencing a financial hardship as well as those interested in investing in preforeclosures and who want to know what the foreclosure process looks like.

Rather than a lengthy written answer, I wanted to share a video I found online from a company that assists home owners and REALTORS® with the short sale process. Take a look:

Labels: Anatolia, Antelope, Arden, Auburn, Carmichael, Central, Citrus Heights, Curtis Park, Davis, Del Paso Heights, Downtown, East Sac, El Dorado Hills, Elk Grove, Elmhurst, Fair Oaks, FAQs, Galt, Gold River, Granite Bay, Greenhaven, Laguna, Land Park, Lincoln, Lodi, Meadowview, Midtown, Modesto, Natomas Park, North Highlands, North Natomas, North Sac, Oak Park, Old Sac, Orangevale, Pocket, Rancho Cordova, Regency Park, Rio Linda, River Park, Rocklin, Rosemont, Roseville, Sacramento, South Land Park, South Natomas, South Sac, Southport, Stockton, Tahoe Park, UCD Med Center, West Sac, Winn Park, Woodlake, Woodland

posted by Rob McQuade @ 2:53 PM, , links to this post

FAQs: What is Median Sales Price?
Sunday, November 2, 2008

Q: What is "median sales price"? Why did the median price spike in Sierra Oaks in the middle of 2006?

Asked by Kelsey, a home buyer in the Arden area

A: Your question strikes at the heart of so many people's questions about home values, Kelsey.

The median resale price (sometimes called "median price" or "median home price") refers to the price at which half of all homes (in a given area for a certain time period) sold for more and half sold for less. If the sampling of sales isn't large enough—say for instance it's for a small geographic area or short time period—then that number can be skewed by a couple properties and may vary dramatically from period to period.

In May of 2006, Sierra Oaks (95864) had an unusually high number of homes selling for over $1 Million. While million-dollar homes aren't unusual in the area, there were four homes that sold in that price range in one month compared to the 1-3 that sold other months.

If you look at a larger area or longer period, you'll get a truer picture of things--but median resale price is an imperfect number and is a "snapshot" of what types of homes are selling at any given time, not necessarily of actual home values. This is why Sacramento's median resale price has dropped dramatically in the last several months as real estate investors and first-time homebuyers have flooded the market but the number of move-up buyers has been low (note: foreclosures and short sales don't fuel the move-up market because banks don't buy a property after selling and short-sellers are typically exiting the ownership market).

posted by Rob McQuade @ 9:50 AM, , links to this post

FAQs: Can I write offers on more than one house at a time?
Monday, October 27, 2008

Q: Can I write offers on multiple houses without losing my deposit if more than one of those offers is accepted?

Asked by Tony, a home buyer in Natomas

A: Great question, Tony--and one I get asked often.

While you can potentially "get away with it" because of the many contingencies you're afforded within the purchase contract, writing offers on multiple properties at the same time would probably be considered acting in bad faith because you don't actually intend to purchase all the properties you're writing offers on. Chances are you're writing multiple offers with the hope that at least one of them will go somewhere--which is definitely a reality in the current market, especially in competitive price ranges.

When my clients ask this question, my response is simple: let's write and submit one offer at a time and, as each offer expires, we can move on to the next offer. If your agent is using a CAR purchase agreement, the default expiration of your offer is probably 5pm on the third day after you submitted your offer. Banks may (and often do) drag their feet and take longer than three days to respond, so technically your offer may expire even while it's being considered by the bank. If you choose to accept a response after your offer is expired, that's great--but nothing precludes you from writing another offer in the meantime if your original offer's expiration date has come and gone. Further, you can adjust the day and time that your offer expires by writing in something else if three days is longer than you want to wait.

Labels: Anatolia, Arden, Auburn, Carmichael, Central, Citrus Heights, Curtis Park, David Taylor, Del Paso Heights, Downtown, East Sac, El Dorado Hills, Elk Grove, Elmhurst, Fair Oaks, FAQs, Galt, Gold River, Granite Bay, Greenhaven, Laguna, Land Park, Lincoln, Lodi, Meadowview, Midtown, Modesto, Natomas Park, North Highlands, North Natomas, North Sac, Oak Park, Old Sac, Orangevale, Pocket, Rancho Cordova, Regency Park, Rio Linda, River Park, Rocklin, Rosemont, Roseville, Sacramento, South Land Park, South Natomas, South Sac, Southport, Stockton, Tahoe Park, UCD Med Center, West Sac, Woodlake, Woodland

posted by Rob McQuade @ 7:59 PM, , links to this post

Yes.
Saturday, September 20, 2008

If you've picked up the latest issue of Sacramento Magazine you may have noticed the question asked on the cover:

LOFT LIVING, CONDO CULTURE: Can it thrive here?

Yes. In fact, in order for Sacramento to continue to grow in a healthy way, lofts and condos need to be a part of that mix of well-executed housing options. Large single-family homes on quarter-acre lots aren't a practical option in a dense urban core and smarter use of space means sharing: walls, walkways, common amenities, and a belief in a sense of place.

And the "well-executed" part is the key, as some Downtown and Midtown projects have demonstrated.

Among the more successful projects: the Sutter Brownstones have done well in this market because they have the hip, thoughtfully designed styling people want while giving owners a sense of community; the L Street Lofts may not be selling as quickly as investor Resmark Equity Partners may want, but the top-notch location and solid design mean they're selling—unlike recent projects like the Whiskey Hill Lofts (they've been turned into rentals) and Alchemy @ R Street (on the market as short sales as of this writing).

So what are the markings of a well-executed project? In the central city where buyers are more demanding, it means a mix of striking design (this isn't the 'burbs), quality materials and finishes, smart pricing, and convenience (neighborhood amenities, parking). Missing any one of these can make for a real challenge when it comes time to sell, missing more than one can be disastrous. People buying in these urban neighborhoods are doing so because they're unwilling to compromise on what they want—having multiple urban projects to choose from means they shouldn't have to.

Oh, by the way... Flip to page 127 and you'll see my nearly-life-sized head staring back at you (you coulda warned us, SacMag)! Of course I'm sporting a beard right now, maybe looking a little "Pacific Northwest" in honor of west coast cities like Portland and Seattle that have shown us how to execute on that need for urban infill. But I WAS FEATURED IN SACRAMENTO MAGAZINE!

Okay, maybe "spotlighted" is a better word. But still.

Too cheap to pick up your own copy? You can check out the article here: Up in the Air - Marybeth Bizjak, Sacramento Magazine (October 2008)

Oh, and a quick thanks to Marybeth Bizjak and the fine folks at Sacramento Magazine for puttin' my mug—and opinions—in the middle of the current issue. Please, no drawing pirate moustaches.

Labels: Central, Central City Loft Living, Central City Lofts and Condos, Curtis Park, Downtown, East Sac, Land Park, lofts, Midtown, Oak Park, Old Sac, River Park, Roseville, Sacramento, UCD Med Center, West Sac

posted by Rob McQuade @ 5:36 PM, , links to this post

Sacramento unveils 311 for expanded info by phone (and email)
Wednesday, August 13, 2008

Not sure where to go for specific services with the City of Sacramento? What used to be known as Sacramento City Operator is now Sacramento City 311 which means you can dial 311 from a land line or most cell phones within the limits of the city of Sacramento 24 hours a day, seven days a week—even on holidays— to get assistance from a live person (you can even email 311@cityofsacramento.org or use 311 online).

Get answers to questions, request City services, and get help on any municipal issue (besides police and fire) including: Code Enforcement (abandoned cars, graffiti, substandard housing, etc.); Animal Care (injured, stray, aggressive animals, etc.); Development Services Help Line (all calls for DSD are first routed to 311 for triage); Street Maintenance (potholes, cracked sidewalks, lighting problems, etc.); Facility Maintenance (work order requests related to repair/maintenance of City buildings); Citywide Directory Assistance and information about all things related to City services; Request a City crew for drains, water, solid waste, along with general inquiries; Making utility payments by credit card

Sac City 311 is a centralized call center for the City of Sacramento that is intended to make life a little easier for its residents, businesses and visitors. Sac City 311 call center works to answer questions as quickly as possible with minimal transfers.

Frequently Asked Questions

What is 311?
Sac City 311 is an easy to remember phone number that residents, businesses and visitors can use to request service, report problems or get information from local government. Sac City 311 is your resource for connecting with the City of Sacramento. Sac City 311 handles requests for building permits, stray animals, utilities services, and much more—Sac City 311 is ready to help! The 311 customer service agents undergo extensive training to ensure each caller gets a courteous, quick and accurate response. 311 provides a single point of contact for City of Sacramento government services.

Why was 311 created?
The Sac City 311 service is part of an ongoing effort by the City of Sacramento to make access to City government easier and more responsive to the needs of residents, businesses and visitors. Now there is no need to search the phone directory for the right City department—let Sac City 311 take care of that for you.

How does 311 work?
A courteous Sac City 311 customer service agent will assist you in finding the appropriate government service you need. If you need information, agents will either provide it directly or connect you to the appropriate department for your answer. If you need a service, agents can automatically route a work request to the proper department for a City crew to respond.

Who can call 311?
Anyone within the Sacramento City limits can call 311 free of charge from a land-line telephone or cable line. 311 works on most cell phones as well. Cell coverage is determined by individual service providers.

What if I need to call 311 from outside city limits?
Callers outside the City limits can reach Sac City 311 by calling (916) 264-5011.

When do I use 311, and when do I use 911?
The 911 service is for emergencies, such as house fires and crimes in progress, that require an immediate response by police, fire crews or an ambulance. For all other City services, call 311.

Will a 311 agent be able to respond in multiple languages?
Yes, through the use of a third-party translation service, Sac City 311 agents can respond in over 150+ languages and dialects.

Will a 311 agent be able to respond to calls from hearing impaired individuals?
Yes, TDD/TTY callers can dial 311 and then press 3, or dial (916) 808-8563.

Labels: Central, Curtis Park, Del Paso Heights, Downtown, Elmhurst, Greenhaven, Land Park, Meadowview, Midtown, Natomas Park, North Natomas, North Sac, Oak Park, Old Sac, Pocket, Regency Park, River Park, Sacramento, South Land Park, South Natomas, South Sac, Tahoe Park, UCD Med Center, Woodlake

posted by Rob McQuade @ 11:50 AM, , links to this post

Home-Buying 101: Short Sales explained
Friday, August 1, 2008

Searching the MLS for a home in the Oak Park area lately? If so, you've probably noticed a large number of homes listed as short sales (they may be referred to as active short sale or short sale contingency or even just "AS" or "ASC")—and they're often some of the lowest priced homes in any given neighborhood. Here are some of the most common questions I get:

Q. What is a short sale?

A. The term "short sale" is used to refer to a property being sold for which the seller owes more than it will sell for in the current market. This is more common in neighborhoods that have seen significant price declines since the peak of the market in 2005, but any seller can end up in a short sale situation if they've borrowed more money against the home than it's currently worth (such as when a home owner has borrowed money and "overimproved" a home for the neighborhood it's in).

Q. How do short sales work?

A. Short sales work like this: a seller has a financial hardship (death of a spouse, loss of a job, job transfer, hospitalization, or sudden change in monthly mortgage payment) and needs to sell a home. Because they owe more than the home is worth, the seller is requesting that the bank(s) that they have a mortgage through accept less than they're owed. Most banks won't even entertain the notion of a short sale if there aren't any buyers ready to purchase the home for the current market price so, as part of the process, the seller puts the home on the market and begins accepting offers. The seller will typically accept the best offer and submit it to the bank for approval.

Q. Are these deals too good to be true?

A. The short answer is: Yes, in many cases these deals are too good to be true. Many home sellers who are in a short sale situation are selling because they're falling behind on payments or are in preforeclosure. For this reason, they're feeling a lot of time pressure to get the home sold before a bank forecloses, so they price the home lower than anything else in a neighborhood to just try to get offers to submit to the bank(s). This leads to multiple offers but doesn't guarantee that the bank will accept whatever sales price the seller accepts. The seller doesn't usually care what the home sells for because he or she won't be making any money on the sale.

Q. Do banks really go for this?

A. Sometimes. No bank is ever eager to accept less than they're owed because they're losing money in the process, and banks aren't in the business of losing money. Of course in many cases the alternative is foreclosing on a home, and that can be a lengthy, expensive process that results in the bank owning a property—and banks are often even less eager to own the home so may be willing to negotiate if they see that it's in their best interest.

But there are some big challenges when buying a short sale. For instance, unlike a foreclosure where the bank owns the property free and clear and can sell it for whatever price they want, in a short sale situation there may be other parties with a financial interest in the property. If a seller has experienced a financial hardship, there may be unpaid taxes, utilities, or contractors who've done work and are seeking payment—and any of these can result in liens against the property. In a short sale, the seller MUST prove to the bank that there is a financial hardship that requires the home be sold and all parties must agree to accept little or no payment and sign off on the sale of the property. Add to this the fact that there may be a second mortgage that will likely be completely wiped out and it becomes challenging getting everyone with a financial interest to authorize the sale. This is often a grueling, months-long process that can ultimately be for nothing if one or more parties deny the short sale request, and this is a major reason why a lot of homes that are listed as short sales eventually come off the market and reappear later as bank-owned REO properties.

Q. What do the terms active short sale and short sale contingent etc. mean?

A. An active short sale is just another way of saying that the home is active on the market as a short sale. A home listed as short sale contingent means that the seller has accepted an offer and submitted it to the bank. Until the bank responds (and this can take months), the listing agent is obligated to continue to market the home as "for sale". Once the bank has accepted an offer, then the property will be marked as "pending" and the normal escrow period begins.

Q. I've called several times about a home that's for sale online and the agent keeps telling me it's already sold. Why is it still showing up online?

A. In the Sacramento area, if a property is being sold as a short sale, until the bank accepts one of the offers that has been submitted the listing agent is required (by the rules of the local MLS) to identify it as short sale cont and it will continue to appear online on searches because the home isn't yet technically in escrow. While this may seem confusing, your Oak Park REALTOR^® can help you figure out the status of properties you're interested in.

To summarize, when you see a property for sale that's listed as a short sale this means you should expect a much longer than average escrow period (so don't plan on buying a short sale if you're on a tight timeline), a counter offer on price from the bank (even if the seller has accepted your price), and the possibility that the bank will reject the short sale entirely. If you can find a great home that's either a traditional sale or a foreclosure (also called an REO), consider going with these options first. Good luck and happy house-hunting!

More questions about short sales or other homes? Give us a call at (916) 444-7577 today!

Labels: Anatolia, Antelope, Arden, Carmichael, Citrus Heights, Curtis Park, Del Paso Heights, Downtown, East Sac, El Dorado Hills, Elk Grove, Fair Oaks, Gold River, Granite Bay, Greenhaven, Home-Buying 101, Laguna, Land Park, Lincoln, Meadowview, Midtown, Natomas Park, North Highlands, North Natomas, North Sac, Oak Park, Old Sac, Orangevale, Pocket, Rancho Cordova, Regency Park, Rio Linda, River Park, Rocklin, Rosemont, Roseville, Sacramento, South Land Park, South Natomas, South Sac, Southport, Tahoe Park, UCD Med Center, West Sac, Woodlake, Woodland

posted by Rob McQuade @ 1:50 PM, , links to this post

I want you to use this website...
Monday, July 21, 2008

...even if you don't use my services!

I've designed these websites to be useful and usable—and I really want you to find the information (or property) you're looking for. To that end, I'd love to hear what you think. I'm constantly adding and updating the website, including new relevant info and resources. Even if I haven't blogged in a few days, I'm usually adding a new feature here and there (thanks for the feedback on the ZIP Code search tool at the left of each page, Margaret!)... But is it the type of info you want? And what else would be helpful?

Please let me know what you think. I'm listening and working to build the best, most easy-to-use Sacramento area real estate website I can. Judging by the great phonecalls and emails I'm getting it's working. But I'm not here to rest on my laurels!

Fifteen seconds of (real estate) fame

A few weeks ago I was fortunate enough to meet with the fine folks at Trulia (a real estate industry website used by a lot of consumers to find properties for sale—though it's not nearly as good as my websites! ;-D)to shoot a video with Brett Crosby at Google Analytics for other real estate industry professionals. It probably won't be of interest to you (it's a bit nerdy, I confess I'm a "real estate nerd"), but you can check out the video below. It was even picked up by ActiveRain (another industry website that many consumers use)

Oh, and if you decide you'd like some help with your Sacramento real estate needs, my team and I are absolutely here to serve you—just ask! -Rob McQuade -- (916) 444-7577.

Labels: Anatolia, Antelope, Arden, Carmichael, Central, Citrus Heights, Curtis Park, Del Paso Heights, Downtown, East Sac, El Dorado Hills, Elk Grove, Fair Oaks, Gold River, Granite Bay, Greenhaven, Laguna, Land Park, Meadowview, Midtown, Natomas Park, North Natomas, North Sac, Oak Park, Old Sac, Orangevale, Rancho Cordova, Regency Park, River Park, Rosemont, Roseville, Sacramento, South Land Park, South Natomas, South Sac, Southport, Tahoe Park, UCD Med Center, West Sac, Woodlake

posted by Rob McQuade @ 7:17 PM, , links to this post

"Buy and Bail" is Mortgage Fraud
Wednesday, June 18, 2008

A Sacramento homeowner was recently quoted in the Wall Street Journal talking about her plans to purchase a "second home" and then let her current home—purchased in November 2006 for much more than similar homes are currently selling for—fall into foreclosure.

"I can find the same exact house as what I live in right now for half the price."

But this practice, referred to in the mortgage market as "buy and bail", is considered by many in the real estate industry to be mortgage fraud. Fannie Mae, established in 1938 as a government agency but now a privately-held lending institution that provides financing to most of the nation's largest home mortgage lenders, is tightening regulations to prevent these abuses of the system. Individual lending institutions are reviewing their own lending practices and underwriting requirements and are watching for borrowers that are at risk of engaging in buy-and-bail.

Legitimate borrowers planning to take advantage of the current sluggishness in the real estate market to buy a second home or move-up property can expect tighter loan standards and will likely need to produce additional evidence.

Thinking about renting out your current home and moving up to something better? Here's what your lender will probably request from you:

Supporting evidence to back up the claim that the current home will be rented out, including a signed lease agreement;
Proof of income to support principal, interest, taxes, and insurance on both the current residence and the new property being purchased;

It's important to keep in mind that a buy-and-bail also has serious, long-lasting consequences for a borrower. Not only is a foreclosure a big hit to a borrower's credit, but many lenders are also suing for fraud.

Labels: Anatolia, Antelope, Arden, Auburn, Carmichael, Citrus Heights, condos, Del Paso Heights, El Dorado Hills, Elk Grove, Fair Oaks, Galt, Gold River, Granite Bay, Lincoln, Meadowview, Modesto, Natomas Park, North Highlands, North Natomas, North Sac, Oak Park, Old Sac, Orangevale, Rancho Cordova, Regency Park, Rio Linda, Rocklin, Rosemont, Roseville, Sacramento, South Natomas, South Sac, Southport, Stockton, Tahoe Park, UCD Med Center, West Sac, Woodland

posted by Rob McQuade @ 3:04 PM, , links to this post

New! Search homes and condos quickly by ZIP Code
Saturday, May 31, 2008

Now you can quickly and easily search by ZIP Code with just a click! It's easier than ever to pull up homes and condos in your preferred ZIP Code by simply clicking the » By ZIP Code NEW! link under Quick Property Searches from the menu at the left. You can scroll through the list of available ZIP Codes in Sacramento, Placer, Yolo, and El Dorado Counties to bring up a convenient list of the first 200 homes and condos for each ZIP. And, as always, you can get news listings matching ALL your search criteria sent to your email inbox daily by clicking on the link under Resources for Buyers.

Labels: Anatolia, Antelope, Arden, Auburn, Carmichael, Citrus Heights, Curtis Park, Davis, Del Paso Heights, Downtown, East Sac, El Dorado Hills, Elk Grove, Elmhurst, Fair Oaks, Galt, Gold River, Granite Bay, Greenhaven, Laguna, Land Park, Lincoln, Meadowview, Midtown, Natomas Park, North Highlands, North Natomas, North Sac, Oak Park, Old Sac, Orangevale, Pocket, Regency Park, Rio Linda, River Park, Rocklin, Rosemont, Roseville, Sacramento, South Land Park, South Natomas, South Sac, Southport, Tahoe Park, UCD Med Center, West Sac, Woodlake, Woodland

posted by Rob McQuade @ 10:42 PM, , links to this post

FREE: Let there be (compact fluorescent) light!
Monday, May 5, 2008

Let me put $368 in your pocket^* with FREE compact fluorescent lightbulbs (CFLs) while supplies last

I started giving away energy-efficient compact fluorescent lightbulbs at our Green Second Saturday event in April, and now I want to offer them to anyone who would like to stop by and pick up a four-pack (while supplies last, of course). Just send me an email or give me a call at (916) 444-7577 to let me know you'd like to swing by and pick some up. I'll also throw in a Gold C book (entertainment discounts) to anyone who comes by on foot or on bike. ;-)

Rob McQuade - (916) 444-7577
McMartin Realty
2031 K Street, Suite 100
Sacramento, CA 95811-4253

*Save $92 in energy costs per bulb based on 12 cents per kwh over the expected 10,000-hour lifespan of these 23-watt (100-watt equivalent) CFLs compared to 10 standard 1,000-hour 100-watt light bulbs.

Labels: Central, Curtis Park, Downtown, East Sac, green, Land Park, Midtown, North Sac, Oak Park, Old Sac, Sacramento, South Natomas, Tahoe Park, West Sac

posted by Rob McQuade @ 12:22 PM, , links to this post

More accurate UCD Med Center & Elmhurst searches
Thursday, April 24, 2008

The UCD Med Center and Elmhurst neighborhoods offer the same beauty as neighborhoods like Land Park and East Sac , but are often forgotten about when househunting in older neighborhoods—partly because the ZIP Code 95817 is often dismissed as "just Oak Park". And Elmhurst, tucked behind medical center, even shares a bit of 95819 with East Sac (north of T Street, which is the beautiful boulevard that makes Elmhurst such a wonderful area to live in). Searching 95817 or 95819 and finding homes in the Med Center and Elmhurst can be tricky.

Good news! I've just updated the website so that you get only the most accurate Elmhurst and UCD Med Center home and condo results—you can't find more accurate one-click search results anywhere else than right here. To get the most accurate Midtown real estate search results, simply click on the "homes" or "condos" link on every page of ForSaleintheMedCenter.com

NEW! UCD Med Center & Elmhurst home search results that are more accurate!

Labels: Central, Curtis Park, Downtown, East Sac, Elmhurst, Land Park, Midtown, Oak Park, Sacramento, Tahoe Park, UCD Med Center

posted by Rob McQuade @ 10:57 AM, , links to this post

NEW! Oak Park foreclosures available online
Sunday, April 20, 2008

This is a quick update: I just added a new link to Oak Park foreclosures, now you can view bank-owned and REO properties in Oak Park and other areas, including Antelope, Arden, Carmichael, Citrus Heights, Curtis Park, Davis, Del Paso Heights, Downtown Sacramento, East Sacramento, El Dorado Hills, Elk Grove, Fair Oaks, Gold River, Granite Bay, Greenhaven, Laguna, Land Park, Lincoln, Meadowview, Midtown Sacramento, North Natomas, North Sacramento, Oak Park, Orangevale, Rancho Cordova, Rio Linda, River Park, Rocklin, Rosemont, Roseville, Sacramento, South Land Park, South Natomas, South Sacramento, Tahoe Park, the UCD Med Center, the Pocket, West Sacramento, Woodlake, and even Woodland.

Foreclosures (also called REOs or bank-owned properties) represent some of the best deals in the local real estate market. Still not sure how to buy a foreclosure property? You can and review a glossary of terms, plus request additional info and get new foreclosure listings as they become available.

Labels: Anatolia, Antelope, Arden, Auburn, Carmichael, Central, Citrus Heights, Curtis Park, Davis, Del Paso Heights, Downtown, East Sac, El Dorado Hills, Elk Grove, Fair Oaks, Galt, Gold River, Granite Bay, Greenhaven, Laguna, Land Park, Lincoln, Lodi, Meadowview, Midtown, Modesto, Natomas Park, North Highlands, North Natomas, North Sac, Oak Park, Orangevale, Pocket, Rancho Cordova, Regency Park, Rio Linda, River Park, Rocklin, Rosemont, Roseville, Sacramento, South Land Park, South Natomas, South Sac, Southport, Stockton, Tahoe Park, UCD Med Center, West Sac, Woodland

posted by Rob McQuade @ 9:52 AM, , links to this post

What's happening in the Sacramento market?
Monday, March 31, 2008

I just had a great exchange on a real estate forum with a professional in the East Bay asking about the Sacramento market:

Q. Can anyone answer this general question, in regards to Sacramento?

Where are you seeing all the action, in terms of sales, and reduced listings? Is there a particular area, or price range, or type of home? I know this is a broad question, just looking for some insight into the Sac market.... From an outsider...

A. If your question is "what's selling?" then there are a couple answers.

Bank-owned properties. The investors are coming back and they're looking for deals. In many cases, the best deal (on paper) is going to be a foreclosure listing. MLS statistics have been showing that single family homes priced under $250K are leading the local market in activity.

Established neighborhoods. Some neighborhoods never go out of style locally. The best parts of Sacramento—Land Park, East Sac, Arden Park, Fair Oaks—always seem to hold up well, even when the market is down. Many of these neighborhoods don't have a ton of inventory (sellers aren't selling if they don't need to), but there continue to be a lot of buyers looking to "get in".

The urban core. Downtown and Midtown are back in style as more single professionals, young couples, and empty-nesters are looking to be close to everything. Commuting is out, walking/biking to work is in. Proximity to shopping, dining, entertainment, and employment make these areas popular—and the number of new projects that are selling and the fact that huge price declines haven't hit these neighborhoods show that demand remains.

If your question is "where are the deals?" then there's a slightly different answer.

A lot of traditional "first-time homebuyer" and "new investor" neighborhoods have seen dramatic price declines. I'm seeing bank-owned properties on the market for under $100K in areas like Oak Park (95817), North Sac (95815), and Del Paso Heights (95838) to name just a few. You always get what you pay for, and in a lot of cases these are bank-owned homes in poor condition.

I hope this help, and welcome to Sacramento real estate!

Rob McQuade
McMartin Realty

Labels: Antelope, Arden, Carmichael, Citrus Heights, Del Paso Heights, Downtown, East Sac, Fair Oaks, Land Park, Midtown, North Sac, Oak Park, Old Sac, Sacramento

posted by Rob McQuade @ 8:40 PM, , links to this post

Sacramento's bungalow heritage & "Bungalow Row"

The Arts & Crafts Movement in architectural design came to Downtown and Midtown Sacramento at the turn of the 20th century. The period between 1900 and 1920 welcomed a new housing type in central city homes: the bungalow. Characterized by their porches and open floorplans, bungalow styles include the Craftsman, California Bungalow, and Praire, the bungalow marked a more casual and open style in homes after the Victorian era rigid formality.

Some of these bungalows are still scattered throughout the central city, but Midtown has a wonderful concentration of them. Drive down Q Street and as you reach the 2500 block you'll see to the left what's affectionately referred to locally as "bungalow row"—an entire block of beautifully maintained bungalows.

Midtown Sacramento's 'bungalow row' at the 2500 block of Q Street

These California Bungalows pop up in surrounding areas, and a few are currently for sale within a couple blocks of "bungalow row". Take a look at Coldwell Banker-Dunnigan's listing at 1615 26th St, which just came on the market. Both it and it's neighbor across the street, 1616 26th St listed by Lyon, were built in 1910, as was the Prairie Bungalow at 1514 23rd St that was just recently listed for sale by Keller Williams.

At the opposite end of Midtown in Boulevard Park, Lyon has 427 21st St and 328 22nd St for sale, which were built in 1908 and 1920 respectively.

For more information about Sacramento bungalows, check out an introduction Sacramento Bungalow Heritage Association founding member Kerry Phillips' has written, "What is a Bungalow?"

While these aren't the only bungalow homes for sale in Downtown and Midtown, they give you a good idea of the variety of homes you can find in the bungalow style in these neighborhoods. Looking for a bungalow to call your own? Give me a call at (916) 444-7577.

"A bungalow nourishes the needs of our souls."
-Ted Wells, John T. Greene House

Labels: bungalows, Central, Craftsman, Curtis Park, Downtown, East Sac, Fair Oaks, Land Park, listings, Midtown, North Sac, Oak Park, Old Sac, real estate, Sacramento Bungalow Heritage Association, UCD Med Center, Woodlake

posted by Rob McQuade @ 1:02 PM, , links to this post

Only YOU can prevent neighborhood explosions
Friday, March 28, 2008

I just got word from a friend in Minneapolis about an explosion a couple blocks from her home. The cause? A portion of the gas line in a vacant home was damaged by copper thieves stripping out wiring. With the recent climb in foreclosures here in Oak Park, more homes are sitting vacant than ever before—making an accident like the one in Minneapolis possible. If you notice any suspicious activity in a home that is vacant or has a "bank-owned" or "foreclosure" real estate sign on, it please report it to local law enforcement or city officials.

Labels: Antelope, Arden, Citrus Heights, Del Paso Heights, Elk Grove, Meadowview, North Natomas, North Sac, Oak Park, Rio Linda, Rosemont, Sacramento, South Sac, West Sac

posted by Rob McQuade @ 2:35 PM, , links to this post

The Rule of 72 and Getting Rich in Real Estate!

I came across this article and the author gave me permission to share it with you. It's a great real estate investment primer now that we're in a real estate market that's ideal for investing given the number of Sacramento homes priced under $100,000. And when you're ready to start planning your Oak Park purchase, give me a call at (916) 444-7577. -Rob

The Rule of 72 and Getting Rich in Real Estate!
By Ed Lathrop

At the current time, it's no secret the price of real estate has stopped increasing and has started to fall in most parts of the country. Though this may be bad news for people who were planning on their homes going up in price quickly, a dip in price is good news for those looking to invest in real estate.

In the coming years, many people will be making money because they bought into this real estate market downturn. Making a lot of money in real estate is of course, easier said than done, but it is certainly not unprecedented.

The first step on the road to riches is to gain the understanding of the tried-and-true theory of making money in real estate. The first step in gaining this knowledge is an understanding of the rule of 72.

The Rule of 72

The rule of 72 helps us understand the effects of compounding interest over longer periods of time. It states, compounding interest will double the price of a commodity in the number of years of 72 divided by the yearly interest rate. For instance, if you had $10,000 in the bank and it was earning six percent per year, you would divide 72 by 6 to find out how long it would take the $10,000 to double into $20,000.

The answer is, of course, 12. So, if you were to invest for a very long period of time, for instance, 36 years; your $10,000 investment would turn into $20,000 in 12 years, $40,000 in 24 years, and $80,000 in 36 years.

It is common for real estate to increase 6 percent in a year. In fact, this would be a relatively slow market. The price of realty doesn't always go up, but when there is a hot market, it is not uncommon to see real estate increase by 20 to 30 percent in one year.

Since the market is not always hot, it doesn't make sense to use the rule of 72 to calculate for enormous gains like 30 percent. Those types of gains are an aberration. However, since the '50s real estate has increased, in some areas, by an average of 8 percent. For simplicity reasons however, lets use the figure of 7.2 percent.

If a commodity increases by 7.2 percent per year, the rule of 72 tells us that its price will double every 10 years. 72 divided by 7.2 is 10. So, you can see that over the long haul it is smart to be invested in real estate all the time.

Leverage

Simply doubling your money every 10 years will not put you on the fast track to wealth. To get on the fast track to wealth, you must incorporate leverage. With leverage you control a large amount of worth, while only having invested a small amount of money.

Here's how leverage works in real estate. If you are able to put down 20 percent on a $200,000 property, you will have invested $40,000. If the price of that property doubles in the next 10 years, which the rule of 72 tells us it will at a yearly interest rate of 7.2 percent, the price of the property will be worth $400,000 after the 10 year period. If you had been able to rent out the property with your tenants making the monthly mortgage payments, as well as paying your taxes and insurance, you will have made $200,000 with your $40,000 investment.

This is leverage at work because the rule of 72 should have doubled your $40,000, but you actually made $200,000 because of the leverage your mortgage, combined with renting gave you.

If your mortgage happened to have been an interest only mortgage, the property would never be paid off, but your monthly payment would have been low enough to have your tenants paying the mortgage payments each month without you suffering a negative cash flow.

At this point, you could sell the property and receive $200,000 minus probably, $5,000 to $6,000 for expenses, at closing. Plus you will also get back your original $40,000 down payment. Of course, as a real estate investor, your next move would be to use your $235,000 to make down payments on other properties.

You can see how a person could use the rule of 72 and leverage over and over again to become very wealthy. This is not a far-fetched hypothesis. It is a proven theory that has worked countless times.

For many people, the trick is to find the original down payment he/she will need to get started. Aside from the rule of 72 and a thorough understanding of how leverage works, knowing how to get started with little or no money is the next biggest key to success in real estate investing. However, it will be the topic for another discussion.

Ed Lathrop is a successful Real Estate investor. He has developed EzCalculator, a Mortgage Calculator that calculates anything to do with mortgages, shows you how to pay off credit card debt and now includes a free student loan calculator. This Free Mortgage Calculator, is home to the famous "How to Make $100,000 on Your Mortgage" calculator. Come visit this free site at Mortgage Calculator!

Labels: Anatolia, Citrus Heights, finance, Galt, investing, Lodi, Modesto, North Highlands, North Sac, Oak Park, Sacramento, South Natomas, South Sac, Stockton, West Sac, Woodlake

posted by Rob McQuade @ 9:29 AM, , links to this post

Oak Park Real Estate | Rob McQuade & Company

Site menu:

Forbes: Sacramento's one of the least toxic cities in the US
Wednesday, November 4, 2009

Rob's on Facebook and Twitter!
Saturday, June 13, 2009

Forbes: Sacramento's experiencing a "mini boom"
Friday, January 16, 2009

FAQs: What is the California foreclosure timeline or process?
Tuesday, December 2, 2008

FAQs: What is Median Sales Price?
Sunday, November 2, 2008

FAQs: Can I write offers on more than one house at a time?
Monday, October 27, 2008

Yes.
Saturday, September 20, 2008

Sacramento unveils 311 for expanded info by phone (and email)
Wednesday, August 13, 2008

Home-Buying 101: Short Sales explained
Friday, August 1, 2008

I want you to use this website...
Monday, July 21, 2008

"Buy and Bail" is Mortgage Fraud
Wednesday, June 18, 2008

New! Search homes and condos quickly by ZIP Code
Saturday, May 31, 2008

FREE: Let there be (compact fluorescent) light!
Monday, May 5, 2008

More accurate UCD Med Center & Elmhurst searches
Thursday, April 24, 2008

NEW! Oak Park foreclosures available online
Sunday, April 20, 2008

What's happening in the Sacramento market?
Monday, March 31, 2008

Sacramento's bungalow heritage & "Bungalow Row"

Only YOU can prevent neighborhood explosions
Friday, March 28, 2008

The Rule of 72 and Getting Rich in Real Estate!

Oak Park Real Estate | Rob McQuade & Company

Site menu:

Forbes: Sacramento's one of the least toxic cities in the US Wednesday, November 4, 2009

Rob's on Facebook and Twitter! Saturday, June 13, 2009

Forbes: Sacramento's experiencing a "mini boom" Friday, January 16, 2009

FAQs: What is the California foreclosure timeline or process? Tuesday, December 2, 2008

FAQs: What is Median Sales Price? Sunday, November 2, 2008

FAQs: Can I write offers on more than one house at a time? Monday, October 27, 2008

Yes. Saturday, September 20, 2008

Sacramento unveils 311 for expanded info by phone (and email) Wednesday, August 13, 2008

Home-Buying 101: Short Sales explained Friday, August 1, 2008

I want you to use this website... Monday, July 21, 2008

"Buy and Bail" is Mortgage Fraud Wednesday, June 18, 2008

New! Search homes and condos quickly by ZIP Code Saturday, May 31, 2008

FREE: Let there be (compact fluorescent) light! Monday, May 5, 2008

More accurate UCD Med Center & Elmhurst searches Thursday, April 24, 2008

NEW! Oak Park foreclosures available online Sunday, April 20, 2008

What's happening in the Sacramento market? Monday, March 31, 2008

Sacramento's bungalow heritage & "Bungalow Row"

Only YOU can prevent neighborhood explosions Friday, March 28, 2008

The Rule of 72 and Getting Rich in Real Estate!

Forbes: Sacramento's one of the least toxic cities in the US
Wednesday, November 4, 2009

Rob's on Facebook and Twitter!
Saturday, June 13, 2009

Forbes: Sacramento's experiencing a "mini boom"
Friday, January 16, 2009

FAQs: What is the California foreclosure timeline or process?
Tuesday, December 2, 2008

FAQs: What is Median Sales Price?
Sunday, November 2, 2008

FAQs: Can I write offers on more than one house at a time?
Monday, October 27, 2008

Yes.
Saturday, September 20, 2008

Sacramento unveils 311 for expanded info by phone (and email)
Wednesday, August 13, 2008

Home-Buying 101: Short Sales explained
Friday, August 1, 2008

I want you to use this website...
Monday, July 21, 2008

"Buy and Bail" is Mortgage Fraud
Wednesday, June 18, 2008

New! Search homes and condos quickly by ZIP Code
Saturday, May 31, 2008

FREE: Let there be (compact fluorescent) light!
Monday, May 5, 2008

More accurate UCD Med Center & Elmhurst searches
Thursday, April 24, 2008

NEW! Oak Park foreclosures available online
Sunday, April 20, 2008

What's happening in the Sacramento market?
Monday, March 31, 2008

Only YOU can prevent neighborhood explosions
Friday, March 28, 2008