I just joined Active Rain and this is an update on local market - Modesto - located in the Central Valley of California.  In Feb 2008, number of units sold for single family homes are 139.  Average days on market is 67; median days on market is 46.  Average price for single family home sold is $240,580; median price is $215,000.(This is a test post for a first time blogger)   03/09/2008

I'm holding a Foreclosure Buyer Seminar this Saturday March 1st.Come learn about Bank Owned Properties, Short Sales and BPO's.  Countrywide Mortgage will be on Site offering Free Credit Checks.The Seminar is Free but seating is Limited.  It will be from 1-2 pm at 605 Standiford Ave Modesto, CA  95350.  To reserve your seat email me at markdavis@c21mm.com.  02/28/2008

        Although, purchasing a home can be a tedious process, the right Real Estate Agent can make it a relatively smooth one. Researching information on the homeownership process will also benefit you. Throughout this blog series...I have tried to walk the homebuyer through the process from selecting your Real Estate Agent to House Hunting to understanding negotiating your offer and now closing the escrow transaction.         Escrow closing signifies legal transfer of title from the seller to the buyer. Once all the conditions of the escrow have been satisfied your Escrow Officer will inform you or your Real Estate Agent of the date escrow will close and takes care of the technical and financial details.      Closing day is also the day to pay "closing" or settlement costs (accumulatio... 02/06/2008

As a homeowner, you can legally own a home and not be insured. However, most lenders require for a future homeowner to have insurance coverage. The owner of real property runs the risk of financial loss due to circumstances which are beyond their control. Lenders need to protect their investment in your home in case your house burns down or is badly damaged by a storm, tornado or other disasters. Other perils that can result in property damage are hail, windstorms, smoke damage, explosion, earthquake, riot, glass breakage, and building collapse. The area that you reside in will determine the type of coverage the lender will require you to obtain.      Insurance is a method of showing risks with a group. The basic property insurance is fire insurance. The principle of insurance provides ... 01/29/2008

       Your home is one of your most valuable assets...... that's why you protect it with homeowner's insurance, title insurance, and get the inspections....but what about the items not covered by insurance? As your Mother and Daughter Realty Team, we offer to pay the home warranty for our seller/buyer. That's right a year of home warranty FREE to our clients! A Home Warranty is an insurance policy, it gives the same comfort as any insurance against unforeseeable events. The Home Warranty protects the buyer by paying for certain repairs and costs of major mechanical systems and major appliances in the home such as heating and air-conditioning. The Home Warranty can be ordered at the time of listing to protect the seller during the listing period, usually not exceeding six months, then a... 01/27/2008

    Now that your offer has been accepted there are a number of steps that will need to be taken care of until the closing process is complete. So, it is important to give the same amount of attention to the closing process as you did during hunting for your home.     The concept of an Escrow and Title Escrow Company is to operate as an uninterested third party in Real Estate Transactions. Title Companies act as an intermediary between buyers and sellers, or their agents, and ensure that everything in the transaction goes according to the sales contract. This offers protection to all parties involved. TITLE INSURANCE     Title Insurers operate under the theory of risk elimination or loss caused by defects in title from the past. Title Companies spend a high percentage of their operating... 01/26/2008

I can't believe the number of calls that I received from SEO companies since my last blog on SEO page ranking.  For the next two weeks my phone was off the hook with people promising me to promote me to page 1 on Google using one or two keywords or phrases. I did not understand how these companies could make that promise to me, so what did I do.  My wife and I acquired a SEO program, for very cheap, which many of these SEO companies use. What happened next astounded me.  I saw my page ranking go from not even showing on google in November to actually surpassing my company site in January, using modesto real estate as my key words. What caused this increase?  A few things:1.  We made sure that we had an RSS feed going from Active Rain to my website, to make sure that it is continuously b... 01/18/2008

I was asked by a consumer to write about Modesto, California, and some of the misconceptions that there are about the area and some of the plusses. First I will start off with the issues that have been in the press lately.  Modesto has terrible gangs, the worst car theft in the nations, home values are low, and it is not a family-friendly community.  Now everything that has been written about Modesto is true, but only pertains to a little section of it. For the majority of Modesto, and if you look at the city crime reports, the crime occurs within a few little pockets of the city, it is relatively gang and car theft-free. It offers wonderful areas to raise a family. I lived in Modesto for over 10 years and have lived in wonderful areas in which I felt safer than when I lived in Portland... 01/07/2008

In a previous article I wrote, Path to Homeownership: House Hunting I described how to inspect a house using your 5 senses. While house hunting, it is a good idea to write down notes on what you have seen. Write down the good, the bad, and the ugly. Throughout the day, you may have looked at several houses, so it is a good idea to have a checklist for each home you visited. At the end of the day, if you have determined which home is of interest to you, look at your notes. Revisit your budget. Determine the most you are willing to pay according to your budget and the condition of the home, as well as,  the amount you were pre-approved for.  I call this Number Crunching Time!     Whatever you do make sure that you are certain about the offer that you make because once your offer has been ... 12/28/2007

Your Path to Homeownership is a process in it self, it takes time. You've been saving and budgeting your household income by cutting down expenses on dining out and spending sporadically on shopping sprees. You sat down with your family and wrote down your wants and needs. You have learned and heard endless information about the lending process, looked into down-payment assistance programs, and have your pre-approval letter ready.     It's time to go House Hunting! Finally! Hunting for your dream home is an exciting time, however, it can be an overwhelming experience. So, it's best to be as focused as you can be, keep your goal in mind. As your Mother and Daughter Realty Team we are dedicated to taking the time to get to know what is on your wish-list, walking through homes and visuall... 12/26/2007

Whether you are looking to purchase a house or not...you have either heard about or read about the current Real Estate market. You've heard about the mounds of homeowners in foreclosure, you've heard about Short Sales and Bank owned properties. Well, as a homebuyer what does that mean to you? Interest rates and home prices are low and now is a great time to be in your shoes. It is time to invest in you and your family!       In my previous blog, The Path To Homeownership: Determine Your Wants and Needs, I suggested Homeowners write down what they are looking for in a home based on their current situation. It's exciting to visualize about your own space...painting your own walls...landscaping your own yard...decorating the way you want! Once you have written down your wants and needs, i... 12/24/2007

As a first-time homebuyer, you can get overwhelmed with information...from loan information to real estate information...from learning experiences from friends and  family to reading information on your own. So, as your Real Estate Agent it is important to us that we help you gain Real Estate knowledge without being overwhelmed and discouraged. If you are looking to become a homeowner and don't know where to start...a good place to begin is...to write down your wants and needs. What are your reasons for moving? Is it because of the location? Is the family getting bigger or smaller? Is the kitchen too small or big? Are you getting tired of renting and paying someone else's mortgage? Are you looking to invest? Are you looking for a House, Condo, or townhouse? How many bedrooms/bathrooms ... 12/21/2007

The Holiday Cheer is here! At this time of the year, I always get excited and think about others that are less fortunate. There are so many different charities that we all can contribute to and because it's the Holiday, we tend to give more time and money to these charities. So in the spirit of giving, I have decided to make volunteering my time to a local organization a part of my business plan. I am not exactly sure which organization ( I am currently doing research), but it doesn't take much to give a little of your time. I also thought this would be something my son and I could do together. He is about to turn 14 years old and it is important that he understands that helping others benefits us all. It will not only benefit the community, but your spirit. I am leaning more towards wo... 12/19/2007

                                                         In a very woe is me Edgar Allen Poe way, I find it hard to believe what is taking place in the local California Market. For those of you who have not heard yet, the title company with the largest market share in Northern California have shut their doors, 2 weeks before Christmas and in the midst of the holiday season. Part of the problem could be they have bounced checks to their landlords for the last 3 months!             The reason I find this very hard to believe is quite frankly I thought people had business sense, but I am sadly mistaken. In the heyday of quick sales and refinancing every weekend, Alliance title went and purchased all escrow officers that they could, giving huge signing bonuses and raising their fees in turn... 12/14/2007

Big mortgage companies going out of business left and right and requirements changing constantly.  Foreclosures at record levels. Buyers panicking that the bottom is not here yet.  Sellers losing their homes. Scams happening left and right.  So how do you survive as an agent? That is the question.  There is no easy answer since each part of the country is experiencing different issues.  In my part of the country, Modesto, California, the scenario above describes the issues I have been facing on a daily basis with a foreclosure rate close to 1 in 75 homes.  Your situation is likely different so take part of what I say with a grain of salt, but the other part could help keep you in business.  1.  Increase marketing through WOM (word of mouth), utlizing your SOI (sphere of influence) and a... 12/12/2007

The number one thing that can help a person be successful in a down market is customer service skills.  Many people tell you, you have to have them, but what exactly are the most important qualities customers are looking for? The answer to that is very easy, all you have to do is remember the issues you encountered when you were buying a house before you were an agent.1. Find out your customers spending limit and don't deviate from it.  As a customer, I hated it when an agent would try to push me into a house that I could not afford.  If my limit was 225,000 and they showed me a 235,000 property, then I could negotiate, but not a 400,000 house.  I would instantly drop the agent and find someone else.2.  Listen!!!!!!!!!!!!!!! By listening to your customers needs and wants you can find th... 12/12/2007

Many people are talking about the possible government intervention in the foreclosure crisis that would freeze rates at 5 years for people expecting increases. The thing most people do not know is that if the government does intervene that these freezes would not be mandated but voluntary.  Mortgage companies would elect to do so and not be forced to. So will these freezes occur? Who knows? The better question to ask is will it make any difference if these freezes are in place. I was reading a blog earlier, which showed statistics from a major loan lender that the majority of foreclosures are because a person lost their job and with subprime lending instead of foreclosing after two or three months, they can do it after 37 days without a payment in some states. That is barely enough time... 12/06/2007

As I have read on Active Rain, I am realizing that real estate agents have a bad reputation. If reputation is all you have, then we need to show people that we are not snobs but people who care about our community. Which brings me to my topic what makes a good agent? The following is a list of traits that I believe an excellent agent has.  Feel free to add more to this list or disagree with it entirely. 1.  Ethical:  Is honest and forthright and does not lie. 2.  Passionate: Enjoys real estate and isn't dreading the next deal.3.  Discloses: Makes sure buyer and/or seller understands the faults of a property.4.  Service-Oriented: Puts the needs of the consumer first, not their pocketbook.5.  Able to Negotiate: Can handle any type of negotiations. Experience does not necessarily mean good... 11/28/2007

When is the best time to buy? That is the question that is plaguing many many people as the Holiday season is upon us.  Do we wait until January? Do we wait until the market plunges another 5-10,000 lower on home prices? Do we buy now? It is no wonder that consumers are inundated with these decisions when buying a home, especially when in a lot of markets there are bargains to be found left and right. The right answer to these questions depends upon the individual. for some it is best to wait, others the time is right now, and for some it could be in a year. My advice to buyers is do what you feel is best, but remember the market could make a quick correction. Right now there are lots of deals out there and it is perhaps the best time to buy in over 6 years. 11/27/2007

After reading many, many blogs on active rain in the short month that I have been here, I have come up with a short list of blogging tips that could be useful to members of active rain that are new to the scene.1.  Keep it short.  Keep you blogs to a maximum to half a page.  Although some people might disagree with the half page, I personally hate reading through a blog that spans the entire length of the page.2.  Stay on topic.  Many times people get off track on their points.  I am guilty of this as well, it helps to outline what you are going to say ahead of time.3.  Don't fill your page entirely with graphics. Using graphics is absolutely fine, but don't have smileys or graphics covering every square inch of white page that you are not using.4.  Know people can and will take other v... 11/26/2007