Lowest Rates in 25 Months We couldn't have asked for a better Thanksgiving treat than the one we got on Monday: the lowest 30-year fixed-rate in over two years. That's right. For those of you who have been patiently waiting, here's your chance to save anywhere from $5,000 to $7,500 or even more on the mortgage financing you've been looking for. Do not miss this great opportunity to cash in on the lowest rates since October 2005. Here's why you should act now: Monday saw the lowest 30-year fixed interest rate in over two years. However, each time this interest rate reached previous low points, both last year and earlier this year, it began increasing and didn't stop, climbing over 0.50% in the months that followed! Fannie Mae and Freddie Mac tightened guidelines, announcing new Loan-Leve... 11/29/2007

Why is the market good when it is a sellers market?  This is an excellent market to buy a new home. Buyers are now in control of the homes or investment homes they want to buy, not forced to buy. Buyers can now get homes with granite,window treatments, tile, washers & dryers and even refrigerators. Landscaped backyards are a must, not an "upgrade!" So quit waiting for a market change, instead go have an espresso martini, search the web, or better yet find a Realtor that thinks outside the bubble. Go get your super deal on a home and start living the American dream!             https://www.johnhayesrealestate.com/1 oz cold espresso1 1/2 oz Absolut® vodka1 1/2 oz Kahlua® coffee liqueur1 oz white creme de cacaoShake Well and Strain into a chilled Cocktail glass!!!! 11/27/2007

11/27/2007

Folsom's push south takes shape:The city of Folsom on Tuesday took a major step toward its long-sought goal of moving south of Highway 50, unveiling a detailed plan that would add up to 30,000 residents.The proposed plan to develop 3,500 acres envisions nearly 12,000 new residential units and more than 7,500 new jobs. Also included is a 100-acre site designated for a potential regional mall. Folsom had about 69,000 residents in 2006, according to state Department of Finance figures.City officials said their plans, subject to extensive public review and environmental scrutiny, will retain more than 30 percent of the area, including prairie and oak woodlands, as undeveloped open space. The remainder will be divided among offices, parks, schools and shops. The acreage is owned by seven lan... 11/20/2007

SOME STATE DO NOT ALLOW DUAL AGENCY, BUT WHAT IS THE PRACTICE?We have been having a discussion on my blog on  Right or Wrong? Dual Agency  and it has been discussed that it is illegal to practice "Dual Agency" in some states.  I would like to open up this blog to the discussion on how the practice of real estate is performed in the states that do not allow "Dual Agency".  I am from California and we have "Agency" and can practice "Agency" with either buyer or seller or represent both parties in a transaction under "Dual Agency".  The "Agency Relationship" needs to be disclosed in writing as to the duties and responsibilities an agent has to their clients.  We also need to confirm the relationship when a transaction is entered into in California.But, I would like to know what is the prac... 11/17/2007

 REAL ESTATE AGENCY RELATIONSHIPS How agents can represent their clients:1) Fiduciary responsibility to a buyer2) Fiduciary responsibility to a seller3) Fiduciary responsibility to both the buyer and the seller         Okay, it is like walking a tightrope!DUAL AGENCY Is this ethical?What is the practices in your real estate market?Is it possible to really represent a buyer and seller well?Are you serving your clients well? I NEED YOUR HELP TO COMPLETE THE LIST BELOW, PLEASE GIVE ME INFORMATION ABOUT YOUR STATE'S LAWS ABOUT DUAL AGENCY!List of states/countries - what is the practice/law:Alabama - dual agency is not allowed Alaska - abrogated common law agency, but dual agency is allowedArizona - dual agency is allowed California - dual agency is allowedFlorida - dual agency is not allowe... 11/05/2007

As with any segment of the economy, there are a number of perceptions generally held about residential real estate that are not necessarily correct.  The purpose of this Blog is to expose these myths or present a contradictory opinion.  The goal is to provide a forum for discussion with those who have their own opinion on the subject.Myth Number One is that Bank Repos (REO-Real Estate Owned by the bank) provide the prospective buyer with the excellent opportunity to get the best buy in the marketplace.  After all, the banks are foreclosing on a large number of homes, have a growing inventory, and must want to get rid of them, right?   Why can a buyer not pick one up for fifty cents on the dollar?  Your local newspaper is likely to give you that impression of current real estate market c... 11/05/2007

Do you know what the Veterans Hall in Folsom CA is?I have been driving from my home in Antelope CA to my workplace at 400 Plaza Drive in Folsom CA for over a year, each day passing signs "Veterans Hall" with an arrow going each way on Folsom Boulevard near the new Folsom Bridge. Every time I passed those signs I wondered just what is the Veterans Hall and what do they do there?The first time I took the time to drive down Forrest Street I only went through the parking lot. I still was uncertain what it was. The sign on the front of the building only states the obvious VETERANS HALL. There are a couple of beer signs in the windows so I started thinking it must be a VFW (Veterans of Foreign Wars). I can't explain why you would think that but you would have to either be a member or have bee... 10/26/2007

Market Snapshot for Folsom CA 95630  October 16 2007.I wanted to share with you that the doom & gloom reported by the media may be a bit extreme.370 - Active listings of homes available for sale43 - Of the total active listings homes that are in "Short Sale" status*20 - Of the total active listings that are REO*** (Bank Owned Repo's) (officially known as Real Estate Owned)The better news:Some Sacramento CA area locations have much higher REO inventories.39 Homes sold within the past 30 days which means we have slightly less than 10 months of inventory available. That is up by about a month over the last time I reported market conditions for Folsom CA. On 6/13/07 there was just over 7 months of inventory. It is normal to have a bit more inventory during the fall and winter periods.8 Shor... 10/16/2007

Listings as of 10/11/07 at 4:29pmProperty Type: ResidentialListing #DOMListing PricePrice / SqFtAddressBedsAreaCity & ZIPStatusTypeSelling PriceSP % LPListing OfficeBathsLot SzApprox Square Feet7006449870154,900220.34240 Natoma Station Dr #23110630Folsom 95630-7974Active 06/15/07CNDO1 (1 0)70370065718114199,900160.82216 Wales Dr210630Folsom 95630Active 06/19/07CNDO2 (2 0)0.02212437009506436199,900160.82220 Wales Dr210630Folsom 95630-2851Active 09/05/07CNDO2 (2 0)0.02212437009054449296,850217.471031 School St310630Folsom 95630-3109Active 08/23/071HSL2 (2 0)0.11513657009058728324,500270.87107 Grantham Ct310630Folsom 95630-8601Active 08/23/071HSL2 (2 0... 10/11/2007

Cheryl Cook and I held REO (Real Estate Owned) open house at xxx Silberhorn Way in the community of Lexington of Folsom CA. 95630About half way though our 5 hour open house a guy comes in and asks me if those are my open house signs out front. I proudly admit they are indeed mine. I thought initially we may have placed a directional sign on his property. Lets call the guy "Bill", Bill is rather flushed and agitated and proceeds to tell me that the style of our open house signs are degrading his neighborhood and that our signs suggest that all or at least some of the people who live in his "exclusive" Lexington neighborhood are irresponsible borrowers. Bill proceeds to tell me that he has been putting up with this for months and that he has had enough. The style of our open house sign is... 09/29/2007

Folsom, California is extending their Real Estate by allowing Real Estate development south of Highway 50 for up to 30,000 new residents.This plan will bring about 12,000 new residential units to Folsom, 7, 500 new jobs and a regional mall for the area.Once again the Tsakopoulous, one of the Sacramento developers appears to be among the seven landowners or at least affiliated with them in what has been a long time discussion in developing and extending the City of Folsom.Supplying water to this area is and has been an issue that must be resolved.  I do hope that some thought goes into this before adding to an already problematic issue.Many current Folsom residents oppose this development and have for some time, now. One of the main objections that Folsom residents have is the water issu... 06/13/2007

An update on the real estate market in Folsom can really be called the tale of two cities.  Why? Well, the market is really divided into two distinct sub markets as we approach the bottom of our current market cycle.  Pending sales (homes that have accepted offers) are up across the board throughout the Sacramento region.  In Folsom sellers priced below $450,000 in March find that they are in a red hot sellers market reminiscent of the 2003-2005 period.  Multiple offers are back in vogue and agents are scrambling to find homes for their buyers that are returning to the market.  Above $450,000 the market is slower, currently in a weak buyers to a neutral market where buyers and sellers have equal weight in negotiating the transaction.  The upper end of the market $800,000 + is so cold th... 03/16/2007

Can you believe it? Not only does the State close Folsom Damn Rd down which has lead to businesses closing and the reduction of revenue and traffic issues but now the very reason most folks live and go to Folsom is Folsom Lake which I understand is subject to close Folsom Point up to 7 years due to retrofitting the damn. And which facility does the State plan on shutting down? None other than the only good boat launch site besides the one in Granite Bay. Not sure what they are thinking! The good folks of Folsom will not take this sitting down. How about finding another place to put all the equipment while working on the retro fitting somewhere else besides the best boat dock and park?  Beals Point would be an alternative...or better yet somewhere else around the Lake... That is not a bo... 01/19/2007

Folsom, California is a city with a colorful past and a rosy future. Settled during the Gold Rush, Folsom is now one of the fastest growing cities in California. Located just 20 miles east from Downtown Sacramento on highway 50, this upscale community is the perfect blend of the old and the new. Sutter Street in downtown Folsom is a favorite spot to get a flavor of the old days. Across the river luxury homes are nestled in the hills of the American River Canyon, along with a number of newer subdivisions with houses of varying prices. For more information and a list of the subdivisions in Folsom be sure to click here. For Real Estate Sales Statistics for Folsom each month click here.Folsom is also home to the Folsom Lake State Recreational Area which is over 18,000 acres and a great plac... 11/10/2006