Archive for the 'My Stories' Category
August 16th, 2008 Categories: My Stories, Real Estate Trends, Sacramento RE Stats, Sacramento Real Estate, Sacramento Sellers, Shortsales
New listings are finally outpacing pending sales. In the tri-county area (Sacramento, Placer, El Dorado) it looks like the summer flurry is already subsiding- the total available homes on the market is now building again.
A good thing for many eager buyers who had been out-bid on homes that had seen multiple offers… Many first time buyers who are relying on down payment assistance and or other first time programs have had a hard time competing with stronger offers… We have been working with several buyers who have written scores of offers (one couple has written over 15 offers) and been outbid each time- they are finally in contract!
Check out the numbers
| Active: 2207 |
Pending: 1846 |
Sold: 893 |
Other: 0 |
Total: 4946 |
|
Bedrooms |
Bathrooms |
Square Feet |
List Price |
Selling Price |
Days on Market |
| Minimum |
0 |
0.00 |
90 |
$22,900 |
$28,500 |
0 |
| Average |
3 |
0.00 |
1,806 |
$283,188 |
$276,468 |
37 |
| Median |
3 |
2.00 |
1,575 |
$232,900 |
$247,000 |
12 |
| Maximum |
7 |
0.00 |
10,500 |
$3,600,000 |
$3,500,000 |
518 |
| Total Dollar Value |
|
|
|
|
$246,886,155 |
|
| |
| Average DOM Breakdown and Average % of List Price received on Solds by Market time: |
|
0-30 Days |
31-60 Days |
61-90 Days |
91-120 Days |
120+ Days |
| No. of Listings |
488 |
124 |
76 |
86 |
119 |
| Breakdown % |
54.65 |
13.89 |
8.51 |
9.63 |
13.33 |
| Avg SP % LP |
100.96 |
97.19 |
96.18 |
94.45 |
94.25 |
It’s amazing how different our local markets are from one another, though, for instance, in Folsom, there are only 23 bank owned homes on the market in the whole zip code… As of 2007, the State of California’s estimate of Folsom’s population is 70,835. the market is amazingly stable and predictable.
In Elk Grove, there are 245 bank owned homes!! In a town that the State’s estimates place the population at 136,318. Not so stable… it’s two totally different markets, just a few miles from one another…
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Authored by Forth Hoyt |
June 7th, 2008 Categories: All about me, My Stories
When I’m finished with next week’s training, I’ll only have one more class left to reach my 2008 year goal of finishing my CRS training…
What is CRS?
The Certified Residential Specialist (CRS) is the highest Designation awarded to sales associates in the residential sales field. The CRS Designation recognizes professional accomplishments in both experience and education.
Needle in a haystack: One in a million…Why use a CRS?
There are over one million REALTORS® in business today. So if you want to find that one-in-a-million REALTOR®, start with the over 37,000 who hold the Certified Residential Specialist Designation. CRS is the symbol of excellence in residential real estate. Our members have proven they have the experience, training and commitment to be among the best in their profession.
Since 1977 the Council of Residential Specialists has been conferring the CRS Designation on agents who meet its stringent requirements. Currently, there are more than 39,000 active CRS Designees.
I love to learn, love to improve and love to bring tools back to my busines that will make a difference in my clients’ lives and their real estate experience.
I can’t wait to begin my six-day intensive training schedule for next week…
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Authored by Forth Hoyt |
May 28th, 2008 Categories: All about me, My Stories
http://www.youtube.com/watch?v=nuKuXfvMG5w
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Authored by Forth Hoyt |
May 4th, 2008 Categories: My Stories, Pre Foreclosures, Real Estate News, Real Estate Trends, Sacramento RE Stats, Sacramento Real Estate, Sacramento Sellers, Shortsales
We just got an approval letter on a shortsale the other day; from Countrywide! In just three short weeks! It is for a client who’s home here in Folsom is in foreclosure. We had it on the market for only a week and received several offers, one full price with plenty down. The buyer, who understands the short sale process and the potential downfalls, is represented by a great agent I worked with at my old company. They absolutely no matter what have to live in that neighborhood and were willing to wait and take the risk of a bank saying no.
We now have two files with Indymac, another Countrywide, One with an Option One first and HSBC second (I usually don’t even try to work a shortsale listing with a first and a second, however the HSBC gal I talked to in their loss Mitigation department promised they would work with us).
We also have buyers in contract on a beautiful home in Orangevale who we are anticipating an approval letter from Homeq, this week… It is a screaming deal too– these kids will move in with 20 or 30k in equity… on a street where the last reo listing sold in two days, and in a market where we have probably reached a bottom!
Yes, these people have waited six weeks for an answer from the bank. We have seen at least thirty other houses since we wrote the offer, and the buyers have always wanted to keep the offer in and continue to try… It is always an exercise in patience and understanding for me; working with buyers who want to write on a short sale! …but it always seems to work out in the long run for the best; we either close on the short sale or find another home while we wait.
I really expect short sales to get easier… they have to!
Some banks, Indymac, Homeq, Countrywide, along with several other smaller lenders are getting their acts together and I look forward to being able to really move some real estate sometime soon.
The banks just must keep working on their systems and improving their timetables… there are so many more foreclosures coming! There has been another jump in California foreclosures last quarter, which means this summer, fall and winter, there may be another jump in shortsales and REO’s…
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Authored by Forth Hoyt |
September 24th, 2007 Categories: All about me, Country Living, My Stories, Ranch and Rodeo, Sacramento History
Rooting Out the Rotten Tomatoes
Workers separate tomatoes at the sprawling Central de Abastos market in Mexico City on June 10
Gregory Bull / AP
So how much damage can a few rotten tomatoes really do? The tomato-linked salmonella outbreak announced by the Food and Drug Administration (FDA) on June 3 has claimed 228 victims in 23 states over 58 days (and counting). It has put 25 people in the hospital and may have had a role in hastening the death of a cancer patient. And then there’s the flurry of panic as many of the tomatoes that American consumers take for granted every day suddenly disappear — from McDonald’s hamburgers; from the salsa at Chipotle Mexican Grill; from Burger King, Taco Bell and Sonic; and from the grocery shelves at Kroger, Wal-Mart and Target. Didn’t we just go through this with bagged spinach? With peanut butter? With pet food?
Because the FDA’s tomato-recall recommendation is so specific — including only three types, grown in certain regions during a certain time — and because many national chains pulled their tomato stock within days of the announcement, most of the infected samples have likely been removed. But the outbreak remains ongoing; its source has not yet been determined, and the government is investigating new cases every day. It may be a few more weeks before the delicious staple fruit is given the all-clear.
Taking tomatoes off shelves and menus may contain the outbreak, but it doesn’t explain it. On May 22, the New Mexico Health Department notified the Centers for Disease Control and Prevention that it knew of seven people recently infected with Salmonella Saintpaul, an unusual strand of the bacteria that accounted for only 400 of the 1.4 million cases of salmonella infection reported last year. And it was precisely because occurrences of the Saintpaul strand are so rare that the report caught the CDC’s attention. When Texas and a few other states reported cases of people being infected by bacteria with the same “genetic fingerprint,” a multistate search for Salmonella Saintpaul was launched. While the CDC tracked reported illnesses, the FDA interviewed victims to find out what they had eaten (and where). The common answer was tomatoes.
There have been 13 outbreaks of salmonella in tomatoes since 1990, which puts the fruit on the list of high-risk foods that are prone to infection. But unlike the bagged spinach from the 2006 E. Coli scare, the tomatoes don’t come with a traceable bar code. “When you’re dealing with tomatoes, it is much, much more complex,” explains Dr. David Acheson, the FDA’s associate commissioner for foods. The FDA’s great tomato hunt has an ever-expanding list of suspects. A salmonella victim can point to the supermarket (or restaurant) that sold the offending fruit, but that store probably sources its tomatoes from several suppliers, each of which uses several distributors — and distributors buy from any number of growers.
“Each set of questions just multiplies into a fan of information that has to be sorted through to understand where the links cross over,” says Acheson. Although the FDA has managed to rule out some regions — northern Florida is safe because its tomatoes weren’t ready for harvest at the time of the outbreak — it will be some time until the true source is found. “We’re not quite there yet,” says Acheson, “but we’re getting very close.” But Dr. Ian Williams, chief of the CDC’s OutbreakNet team, warns that the source may never be found due to the fruit’s short shelf life. “You don’t expect to find an infected tomato sitting on someone’s counter 10 days after the outbreak,” says Williams.
Still, the lag time between the initial outbreak and the government’s reaction is startling: the first Salmonella Saintpaul victim fell ill on April 16, but the FDA didn’t announce the tomato link until June 3. Williams says part of the problem identifying salmonella outbreaks is that a lot of victims don’t see the symptoms — diarrhea, fever, vomiting — as sufficiently severe to warrant a visit to the doctor, and so they go undiagnosed. “There may be a delay in reporting outbreaks because people do not have a stool specimen tested,” he says. Officials have not yet identified an infected tomato, and because of the fruit’s short shelf life, they probably never will.
The FDA unveiled a tomato-safety initiative in 2007 that sought to identify causes of salmonella infection, but Acheson admits that studying preventive techniques doesn’t help the FDA deal with outbreaks. The FDA has no plans to change the initiative in the face of the recent outbreak.
Even if the FDA can pinpoint the source of the outbreak, it’s hard for consumers to know where their tomatoes are grown. Certain imported foods are required to carry country-of-origin labels, but that doesn’t apply to domestic produce. “I’m not aware of any tomato outbreak that was not domestic,” says Acheson. There is no such thing as a mandatory state-of-origin label for food, and federal authorities have yet to create such a law. “Saying ‘product of the U.S.’ isn’t necessarily going to confer safety,” he says. So much for reassurance.
Vi ste jeben.
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Authored by Forth Hoyt |