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Doug Reynolds wrote:

Home-Builder Optimism Hits 6-Year High
Optimism among the nation's home builders climbed in September for the fifth straight month to reach the highest level in more than six years, according to a closely followed index released Tuesday.The National Association of Home Builders housing market index gained three points to a seasonally adjusted reading of 40, the highest the index has been since June 2006. Economists polled by MarketWatch had anticipated a reading of 38.The index still isn't at the 50 level, indicating "good" conditions, but has climbed back from as low as eight during the recession. The index didn't even break 20 until December 2011."The traffic through the model homes is increasing, but it's also the quality of the traffic that is increasing. We're moving from window shoppers to people who are real buyers, people who are ready to put down a deposit," said NAHB senior economist Robert Denk to MarketWatch Radio.Gains were made in all regions and in each of the index's three components. The present sales component rose four points to 42, sales for the next six months jumped eight points to 51, while traffic of prospective buyers edged up one point to 31.
October 02 2012
Mortgage Rates Back To Record Lows
Freddie Mac (OTC: FMCC) recently released the results of its Primary Mortgage Market Survey® (PMMS®), showing fixed mortgage rates at or near their all-time record lows, helping to keep homebuyer affordability high. The average 30-year fixed rate mortgage matched its all-time record low at 3.49 percent, and the average 15-year fixed fell to a new all-time record low at 2.77 percent. The 30-year fixed-rate mortgage (FRM) averaged 3.49 percent with an average 0.6 point for the week ending September 20, 2012, down from last week when it averaged 3.55 percent. Last year at this time, the 30-year FRM averaged 4.09 percent. The 15-year FRM this week averaged 2.77 percent with an average 0.6 point, down from last week when it averaged 2.85 percent. A year ago at this time, the 15-year FRM averaged 3.29 percent. Results show that the 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.76 percent this week with an average 0.6 point, up from last week when it averaged 2.72 percent. A year ago, the 5-year ARM averaged 3.02 percent. Additionally, the 1-year Treasury-indexed ARM averaged 2.61 percent this week with an average 0.4 point, the same as last week. At this time last year, the 1-year ARM averaged 2.82 percent. Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage.
September 27 2012
Strength in Single-Family Sector Boosts Housing in August
RISMEDIA, September 21, 2012—Nationwide housing production rose 2.3 percent to a seasonally adjusted annual rate of 750,000 units in August, according to newly released figures from HUD and the U.S. Census Bureau. This increase was fueled entirely by gains in the single-family sector, where the pace of new construction rose in every region for a combined 5.5 percent gain to 535,000 units."Builders across the country have been reporting noticeable improvement in the number of serious buyers who are in the market for a new home, and today's report shows that this is translating to some welcome gains in construction activity," says Barry Rutenberg, chairman of the National Association of Home Builders (NAHB) and a home builder from Gainesville, Fla. "While there is still plenty of room for improvement, it's encouraging to see this continuing trend that is spurring much-needed job growth." For every 100 new single-family homes that are built, 300 new jobs are created, he notes."The pace of overall housing production has been edging gradually upward all year as consumers become more confident in their local housing markets, and the latest data are further evidence that the housing recovery is here to stay," adds NAHB Chief Economist David Crowe.
September 26 2012
Thinking about buying a home in the Sacramento Area?
Often times, first-time home buyers are so excited at the prospect of becoming homeowners that they start their home search immediately, without knowing how much house they can afford.  To avoid wasting time looking at houses out of their price range, buyers are advised to begin the home-buying process by meeting with lenders and getting pre-approved for a mortgage loan. Unlike getting prequalified, which is just a ballpark figure and doesn't require the lender to check the borrower's credit history, a preapproval provides the borrower with a Good Faith Estimate spelling out the terms of the loan, the interest rate, the type of loan, and the closing costs.Shoot me an email or text and I can send you a list of excellent loan officers.Clear skies,Doug Reynolds[Website hotlinks removed by Zillow moderator. Please see our Good Neighbor Policy for posting guidance.]
September 26 2011
The Ups and Downs of Appraisals in Today?s Market
•             In California,  some assessors will consider distressed sales when looking at comps, but it varies widely by county, neighborhood, and house.  In general, assessors will always look at non-distressed sales first and if there are enough, disregard REO and short sales.  However, if there are not enough standard sales, or the home is in an area dominated by distressed sales, the assessor likely will take these properties into account.•             Under Proposition 13, property is assessed upon a change in ownership at its fair market value.  That is usually the same as the sale price.  However, with distressed property, the sale price may not equal fair market value.•             Between changes of ownership, assessors can raise values only by an inflation rate, not to exceed 2 percent per year, plus the value of major improvements or additions.•             Under Prop. 8, owners who think the market value of their property has fallen below its assessed value can ask for a temporary reduction to the fair market value.•             Homeowners who think their homes are worth less than the assessed value can usually ask their assessor for an informal review.  If they are still not satisfied, they can file a formal appeal with their county's assessment appeals board by Sept. 15 or Nov. 30, depending on the county.
September 21 2011
Free Movies at the Drive-In
This Thursday, September 22nd, the West Wind Drive-In is having Client Appreciation night. Transformers 3, Cars 2, and Pirates of the Caribbean: On Stranger Tides will be playing.Pack the car full of the kids, snacks and blankets and enjoy a free night of Movies and family fun.  Arrive early as the crowds will be out.clear skies,Doug Reynolds
September 20 2011
Free Movie Night in the Park - College Greens - Oki Park
Councilmember Kevin McCarty and the College-Glen Neighborhood Association Presents:Movie Night in the ParkWhere: Oki Park in College Greens, 2715 Wisseman Drive, Sacramento, Ca 95826When: Saturday, September 17, 2011  @  7:30 pm.Movie: Gnomeo and JulietFree movie and popcorn.  Come on out to watch a movie with your family and neighbors.  Hope to see you there!
September 16 2011
SMUD Program Rewards Energy Efficiency
By Howard Posner, SMUD Ward 3 DirectorIf you've ever thought about making energy-efficient upgrades to your home to help lower your monthly electricity bills, this is the time to do it.SMUD secured a $20 million dollar federal grant through the American Recovery and Reinvestment Act that will help fund an innovative energy efficiency program. With an array of generous rebates that could reach $9,000 per home and $2,800 per apartment unit, SMUD's Home Performance Program aims to retrofit about 2,000 single-family-homes and 2,500 multifamily homes with energy-saving upgrades.Earlier this year, SMUD nearly doubled the rebates available to customers who improve the efficiency of their residences through such measures as duct sealing, new insulation, and new heating and air conditioning systems.Here's how the program works for single-family homes: Efficiency improvements are determined after the home is inspected by a qualified energy professional. The inspection normally costs about $500 but is being offered for just $99 through the Home Performance Program.After the inspector makes recommendations, the homeowner can decide what upgrades to make, with rebates increasing on a sliding scale. Upgrades that boost the home's efficiency between 20 and 50 percent will qualify for rebates ranging from $2,500 to $9,000. Projects that don't meet 20 percent may still qualify for a $1,500 rebate under certain circumstances.Financial incentives for multifamily dwellings are paid to the retrofit contractor to help offset the cost of efficiency upgrades.For more information on SMUD's Home Performance Program, please visit
September 14 2011
What's your walk score?
Here's a cool website to check out:  The site gives a score to properties in the USA based on how close amentities are for walking.  If you live in a downtown metropolitan area then your score will be quite high.  If you live in a suburb or rural area then your score will be much lower.  The site is also great for home buyers that are looking at a house in an unfamiliar area to them.Walkscore provides tons of information about the closest restaurants, coffee shops, grocery stores, bars, schools, parks, shopping, banks, entertainment and more.  A great way to really learn a neighborhood in a short period of time.  A fun site to spend a few minutes if you are interested in buying or just wanting to look up your own house?  What is your walkscore?  Mine was 40. I live in a suburb  :)clear skies,Doug Reynolds
September 06 2011
Should you Re-Finance your mortgage?
i recently had a discusion with a client that was thinking about refinancing her property.  I explained to her if you are thinking about selling in 5 years it might not be the right decision to refinance now, even it it's going to save you some money each month.  Because her break even point might take longer than that.[Weblink removed by moderator]clear skies,Doug Reynolds
August 30 2011
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