Last night I delivered the keys to Gina and Scott for their new home in Briggs Ranch, Folsom.  They were moving from the Bay Area, away from their families, with 3 under-5 daughters in tow.  It was their first home. Pulling into the cul-de-sac, I spot a man pounding a sign into the corner yard.  "Happy 50th Dave... your neighbors".  Hmmm. Must be having a party. Scott and Gina arrived just before dark, after an exhausting day of packing, and a 3 hour drive with 100 lb Duke slobbering in the front of the giant U-Haul.  Mom and Dad, brother and sis-in-law were their to help, all prepared to camp our on the floor in sleeping bags after unloading their appearing-larger-by-the-moment U-haul. The doorbell rings.  In come 2 men with a thirteen year old girl.  "Hi, we're your new neighbors.... ... 11/22/2009

The "New and Improved" Home Buyer Tax Credit has arrived:  This time around, the gift from the government is broader, easier to qualify for and is extended to current/repeat home owners.  If you are thinking of buying a home, and would like some free money, here is what you need to know:  Current Home Owners - $6,500 Tax Credit:  If you have owned and lived in a home for at least five consecutive years during any of the last eight years, you could qualify.  Even if you sold your home 2 ½ years ago, as long as you were living in that home for five straight years, prior to the sale, you could qualify.  You could have sold the home or rented it out, does not matter, as the use of the home after you moved out does not matter.  First Time Home Buyers - $8,000 Tax Credit:  If you have not own... 11/21/2009

Folsom, CA REO (BANK OWNED) SALES DATA FOR OCTOBER 2009 This is a continuation two year study of Bank Owned home sales data for Folsom, CA.  This report covers REO homes sold in October of 2009. There were 19 REO homes sold in October, up from 11 in September.  That is a 72.8% increase.  The days-on-market increased from 20 in October to 27 in September.  The primary reason for the increase is that one home that had been on the market for 156 days sold last month, skewing the average days-on-market figure.  The fact that 52.7% of the REO homes sold in two weeks or less shows that REO homes are still selling quickly.  The 19 homes sold represent 27.6% of all homes sold in Folsom, within the normal range for this study.  The overall home inventory in Folsom is presently 250, a 3.6 month i... 11/20/2009

Here is this week's Folsom Homes Report, for sales activity in the Folsom real estate market as reported by Trulia.   In comparison to last week, the median sales price increased by less then 1%, and average price per square foot for Folsom homes decreased by less then 1%.  There are 105 Folsom homes that are pending sales representing 24.88% of the available inventory.  The time to sell Folsom homes is currently 75 days. If you would like a free list of homes for sale in Folsom, would like more information about the City of Folsom or would like to be the first to know about hot new listings before other buyers do, then give me a call at:(916) 983-7653. For free reports on buying and selling and Folsom California Real Estate visit http://www.HoffmanRealtyGroup.com Jeff HoffmanHoffmanRea... 11/13/2009

Short Sale or Foreclosure: Which is the Better Option? Losing your home to bank foreclosure, resulting from your inability to make your monthly mortgage payment(s) is one of life's most challenging experiences.  Foreclosure is also an event that will impact your credit score for years to come.  Foreclosures often result from the unexpected: a major accident, serious illness, death of co-owner, divorce, job loss, or more and more often as the result of a resetting interest only or adjustable rate mortgage.  If you are facing any of the above it is better to understand your options and take action, rather than standing idly bye and waiting for the foreclosure to take place. Foreclosure is the worst of your available options As most people know, the result of a foreclosure is the bank will... 11/13/2009

Folsom and Roseville/Rocklin continue to be one a bright spot in the real estate market. There is still a good selection of homes to choose from with 278 active listings of single family homes.  Prices range from a $194,900 3 bed/2 bath home to a 5200 Sq Ft custom home in American River Canyon North for $2,500,000. There are 46 short sales and 27 REO (bank owned) properties for sale.  There are 150 homes in Folsom priced under $400,000 indicating affordable homes are plentiful.  There are 98 pending sales with average days on the market at 53.  There are 171 sold listings in the last 3 months indicating great turnover activity. Average days on the market for sold listings are 58. Average list price to sale price is increasing to a fantastic 98.3% rate.   11/08/2009

Here is this week's Folsom Homes Report, for sales activity in the Folsom real estate market as reported by Trulia.   In comparison to last week, the median sales price, and average price per square foot for Folsom homes, remained unchanged.  There are 109 Folsom homes that are pending sales representing 25.59% of the available inventory.  The time to sell Folsom homes is currently 76 days. If you would like a free list of homes for sale in Folsom, would like more information about the City of Folsom or would like to be the first to know about hot new listings before other buyers do, then give me a call at:(916) 983-7653. For free reports on buying and selling and Folsom California Real Estate visit http://www.HoffmanRealtyGroup.com Jeff HoffmanHoffmanRealty Group Inc.(916) 983-7653http... 11/06/2009

More good news for consumers, and the housing market recovery!  Following the Senate's favorable vote yesterday, the U.S. House of Representatives just voted 403 to 12 to extend the home buyer tax credit, expanding the parameters to include existing homeowners and not just first-time buyers. President Obama to sign the legislation in short order.As it now stands, the federal tax credit will be extended through April 30, 2010, with a 60-day extension if a binding contract is in place prior to the deadline. First-time home buyers will continue to be eligible for a tax credit of up to $8,000, while existing homeowners will be eligible for a reduced credit of up to $6,500. To qualify for the $6,500 credit, existing homeowners must have lived in their current residences for at least five yea... 11/05/2009

Here is this week's Folsom Homes Report, for sales activity in the Folsom real estate market as reported by Trulia.   In comparison to last week, the median sales price, and average price per square foot for Folsom homes, remained unchanged.  There are 115 Folsom homes that are pending sales representing 26.62% of the available inventory.  The time to sell Folsom homes is currently 90 days. If you would like a free list of homes for sale in Folsom, would like more information about the City of Folsom or would like to be the first to know about hot new listings before other buyers do, then give me a call at:(916) 983-7653. For free reports on buying and selling and Folsom California Real Estate visit http://www.HoffmanRealtyGroup.com Jeff HoffmanHoffmanRealty Group Inc.(916) 983-7653http... 10/30/2009

Here is this week's Folsom Homes Report, for sales activity in the Folsom real estate market as reported by Trulia. In comparison to last week, the median sales price decreased by $15,750 and average price per square foot for Folsom homes decreased by less then 1%.  There are 108 Folsom homes that are pending sales representing 26.09% of the available inventory.  The time to sell Folsom homes is currently 90 days. If you would like a free list of homes for sale in Folsom, would like more information about the City of Folsom or would like to be the first to know about hot new listings before other buyers do, then give me a call at:(916) 983-7653. For free reports on buying and selling and Folsom California Real Estate visit http://www.HoffmanRealtyGroup.com Jeff HoffmanHoffmanRealty Grou... 10/26/2009

If you are a first-time home buyer, looking to purchase in Folsom and get the $8,000 Federal Tax Credit currently being offered, time is running out! Barring an extension by Congress, you now have 40 days left to close escrow on your purchase or you will miss out on the tax credit which expires on 11/30/09.  If you still want to a shot at the free money, move quickly! See my last blog posting on this topic: ORIGINALLY POSTED in September:  In an effort to off-set last year's fincial meltdown and the ensuing recession, the current administration created a tax credit of up to $8,000 for certain first-time home buyers in the $787 billion Economic Stimulus Package that was passed in February, 2009.  Through this program, you are eligible to receive an $8,000 tax credit when you purchase a p... 10/23/2009

Folsom, CA REO (BANK OWNED) SALES DATA FOR SEPTEMBER 2009 This is a continuation two year study of Bank Owned home sales data for Folsom, CA.  This report covers REO homes sold in September of 2009. There were 11 REO homes sold in September, one more than sold in August.  The number of available REO homes has been drastically reduced.  The days-on-market dropped from 22 in August to 20 in September.  54.6% of the REO homes that sold were on the market less than two weeks.  One home had been on the market for 83 days. For the second month in a row, none of the REO homes that sold were on the market for more than 90 days.  Most are well priced when they hit the market and they are not lasting long.  The 11 homes sold represent only 19.3% of all homes sold in Folsom, similar to the August ... 10/20/2009

Here is this week's Folsom Homes Report, for sales activity in the Folsom real estate market as reported by Trulia.   In comparison to last week, the median sales price decreased by $25,500 and average price per square foot for Folsom homes remained unchanged.  There are 109 Folsom homes that are pending sales representing 26.01% of the available inventory.  The time to sell Folsom homes is currently 100 days. If you would like a free list of homes for sale in Folsom, would like more information about the City of Folsom or would like to be the first to know about hot new listings before other buyers do, then give me a call at:(916) 983-7653. For free reports on buying and selling and Folsom California Real Estate visit http://www.HoffmanRealtyGroup.com Jeff HoffmanHoffmanRealty Group In... 10/15/2009

Here is this week's Folsom Homes Report, for sales activity in the Folsom real estate market as reported by Trulia.   In comparison to last week, the median sales price increased by $35,750 and average price per square foot for Folsom homes decreased slightly by less then 1%.  There are 112 Folsom homes that are pending sales representing 26.86% of the available inventory.  The time to sell Folsom homes is currently 95 days. If you would like a free list of homes for sale in Folsom, would like more information about the City of Folsom or would like to be the first to know about hot new listings before other buyers do, then give me a call at:(916) 983-7653. For free reports on buying and selling and Folsom California Real Estate visit http://www.HoffmanRealtyGroup.com Jeff HoffmanHoffman... 10/09/2009

FHA Loan Volume is Soaring:  In 2007, the number of government-backed FHA loans issued in the Sacramento Region was 649.  In 2008, this number soared to 8,998 loans.  In 2009, this number will increase again.  With this in mind, I looked back at all of the transactions I have been involved in, in 2009, and found 67% of the buyers used FHA loans. FHA loans are primarily used by people who can't afford a big down payment, or have credit score issues.  FHA buyers are only required to make a down payment equal to 3.50% of the purchase price, and can receive credits/gifts from the seller to assist with paying part or all of their closing costs.  With the credit market shot, most conventional loans now require at least 10 percent down.  FHA Loans are Making a Difference: In light of the housi... 10/07/2009

Here is this week's Folsom Homes Report, for sales activity in the Folsom real estate market as reported by Trulia.   In comparison to last week, the median sales price and average price per square foot for Folsom homes remained unchanged.  There are 117 Folsom homes that are pending sales representing 27.79% of the available inventory.  The time to sell Folsom homes is currently 97 days. If you would like a free list of homes for sale in Folsom, would like more information about the City of Folsom or would like to be the first to know about hot new listings before other buyers do, then give me a call at:(916) 983-7653. For free reports on buying and selling and Folsom California Real Estate visit http://www.HoffmanRealtyGroup.com Jeff HoffmanHoffmanRealty Group Inc.(916) 983-7653http:/... 10/02/2009

                                                            Folsom Live 2009 - 12 Bands, 10 Stages, 1 Night, 9/26/2009.  If you are looking for a home in Folsom, take a break and unwind a little bit...  Folsom Live 2009 is tonight!  If you like live music and hanging out with a couple thousand of your newest friends, check it out: http://www.folsomlive.com/welcome.html . A high-energy evening of non-stop music in historic Folsom takes place Saturday, September 29 as Folsom LIVE! with tributes to such rock legends as Johnny Cash, Lynyrd Skynyrd and KISS. Also appearing is classic rock icon Billy Richards' Coasters, in addition to last year's favorite, Fun, Fun, Fun, a fun-filled show featuring tributes to The Beach Boys, Monkees and Beatles.  With more than 10 venues along the three-bloc... 09/26/2009

Here is this week's Folsom Homes Report, for sales activity in the Folsom real estate market as reported by Trulia.  In comparison to last week, the median sales price and average price per square foot for Folsom homes decreased slightly by less then 1%.  There are 112 Folsom homes that are pending sales representing 27.18% of the available inventory.  The time to sell Folsom homes is currently 104 days. If you would like a free list of homes for sale in Folsom, would like more information about the City of Folsom or would like to be the first to know about hot new listings before other buyers do, then give me a call at:(916) 983-7653. For free reports on buying and selling and Folsom California Real Estate visit http://www.HoffmanRealtyGroup.com Jeff HoffmanHoffmanRealty Group Inc.(916... 09/24/2009

In an effort to off-set last year's fincial meltdown and the ensuing recession, the current administration created a tax credit of up to $8,000 for certain first-time home buyers in the $787 billion Economic Stimulus Package that was passed in February, 2009.  Through this program, you are eligible to receive an $8,000 tax credit when you purchase a principal residence if you have an adjusted gross income of $75,000 or less (or $150,000 for married couples), you have not owned a home during the three years leading up to the purchase, and, you close escrow on your purchase prior to November 30, 2009. Translation: Under the current First-Time Home Buyer Tax Credit program, if you would like the opportunity to get an $8,000 gift from the Federal Government, you have 71 days left to get pre... 09/21/2009

Seven Pointers for Success Folsom is a great place to live and an even better place to own an investment property evidenced by the numbers of first time investors who came through my open house this past Sunday. Many are just starting their investigation and some don't really know what to expect so I've complied the answers to the seven most common questions about real estate investing. 1. How important is location? Investing in the best location you can afford will dictate the kind of tenants you will attract, and in turn, how much rent you can charge. More desirable neighborhoods appreciate more over time and are less susceptible to the ups and downs of the real estate market. 2. What about repairs? Expect to spend some money on repairs and resist the urge to upgrade. Your thinking s... 09/20/2009