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Yesterday was very lazy around the Jalone home was we watched the Rose Parade (wow is it good on HDTV!) a few football games and played Guitar Hero with Mikie. With the kids out of school until Monday I think I have a few quiet days to get things in order for starting 2008. 

I have been toying with the idea of trying a podcast and Michael thinks he has found the right application for me to give it a try. We are going to start off very informally so keep an eye out for the official announcement that we have our first show complete and ready for listening. I guarantee they will be short and hopefully fun.  Read Full Post

Today is the last school day before Christmas vacation for Mikie and most kids; do you remember how great that felt?

Here in the Sacramento real estate market we are not following the law of supply and demand which says as supply declines demand increases.  In real estate this would normally mean as the inventory of homes for sale declines the asking prices of those on the market would increase.  For the past seven weeks according to HousingTracker inventory of homes for sale has been declining but there has been no sign of asking prices increasing or even firming.  In the last month alone, inventory has dropped over 6 percent.  During that time asking prices have fallen 4.2 percent which is even faster than the three month figure of 9.6 percent. 

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In difficult times successful people become creative rather than relying on what has worked in the past.  In the slower Sacramento area real estate market determining how to price your house if you are a seller is a key ingredient in obtaining the most money in the shortest period of time.  Check out my latest column over at Rocklin & Roseville Today, “Price Your House to Sell,” and see how the use of comparables has changed.  I have also published the article on the Real Estate News page.

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I want to acknowledge the fine people at Alliance Title who lost their jobs last week when management decided to close the operation.  We were customers of Alliance and enjoyed working with the staff and especially Christine Moore who always had a smile on her face and went the extra step to make sure our clients and needs were met.  We will miss working with Christine and the team!  I know it has been a difficult year in the real estate industry, especially here in the Sacramento area but, when a company the size of Alliance Title, with the customer base they had developed, just “closes the door” rather than sell the business you have to wonder if there is something more to the story.

 

By the way, the market reception to our new company,…

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Normally this is a very slow time of year for the Sacramento and other real estate markets.  Not many people want to sell or buy homes during the holidays and Realtors get some needed rest and a chance to catch-up with the rest of the world.  Not so, at least so far this year.

Check out my column over at Rocklin & Roseville Today, “Costs up + Attractive Rates = Increased Mortgage Applications” and see what is happening and some of my own observations.  I have also published the article on my News Page at jalone.com.

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Since November 28th when I recommended looking at the Catalog Choices where you can have your name removed from almost any catalog mail list I have been collecting the catalogs we receive and have now eliminated us from 31 mail lists.  I hated to say good bye to Godiva Chocolates but I really don’t need the calories and paper.  In addition I have suggested about another 10 catalogs I would like to see added to their list.  It is a really easy site to use and although it won’t reduce much this holiday season, I am sure our mail box will have more room when the spring catalogs are sent out.  I am on a mission, join… Read Full Post

Concerns over a severe housing downturn and prolonged credit crisis could shake consumer confidence and hurt the economy contributed to a drop in mortgage rates this week, according to Freddie Mac. Interest on 30-year fixed loans sank to 5.96 percent from 6.10 percent last week, landing at the lowest point seen since September 2005.

Borrowing costs on 15-year fixed products fell to 5.65 percent from 5.73 percent over the week and five-year adjustable-rate mortgages were down to 5.75 percent from 5.86 percent, but one-year ARMs bucked the southward trend by bumping up to 5.46 percent from 5.43 percent.

"With lower consumer spending and personal income gains in October, interest rates on U.S. Treasury securities fell lower this week and mortgage rates…

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 There are a number of local sites that do a good job of reporting the monthly real estate statistics for the Sacramento real estate market. This month I am looking at Sacramento Real Estate Statistics where the author just posted some November numbers for our area. The comparisons below are pretty ugly but I caution readers to remember that we have a strong and diverse local economy and our real estate market will improve.              Average $/SF                            Median $/SF                 2006 - $234                               2006 - $226             2007 - $198                               2007 - $187               Average Sales Price                  Median Sales Price             2006 - $419,543                         2006 -… Read Full Post