Thursday, October 15, 2015

I just got a real estate legal update from a local attorney here in Fair Oaks.  Seems the debt forgiveness act isn't being extended here for the state taxes.  You'll be fine with the federal taxes being a short sale or foreclosure could effect your taxes come April 15th.
The best thing to do is to contact a CPA to see how the situation will effect you come tax time.  If you wish to pursue a short sale, that's where I can help you.  I'm CDPE certified; move over, I have experience and have done my fair share of short sales since 2008.  Contact me with questions: Chad Phillips Re/Max Gold Roseville CA 916-390-1476

Wednesday, October 14, 2015

Just found out some changes with the VA financing.  They're now allowing the escrow fee and pest report and repairs to be paid by the buyer.  I believe it's capped at 1% of the purchase price, but this is going to make selling homes in Roseville and Rocklin easier.
I have a great listing priced below market in Rocklin at 3320 Sandalwood Rd.  It's a short sale and working on an approved price at 415,000.  Comps are going at 440,000.  This property needs a roof!  I have a bid for 13,000 to get a new roof put on.
We're seeing prices recede slightly.  I'm not sure if that just due to the shift in supply and demand or if it's simply a market correction.  Either way buyers have a better negotiating position now then several months ago.  The market tends to slow down as we enter the holiday season.  Very typical this time of year.
This concludes your real estate market update for the Roseville area for today.


Thursday, October 8, 2015

Congrats to Kelly and Bret.  We sold their house the first weekend on the market just under asking price.  The values in Folsom have held stronger than some of the surrounding areas.  There's a high demand, especially in Empire ranch.
Team Phillips has another property closing escrow today.  Congratulations to Mark and Channelle on their purchase in Fair Oaks, CA.  Love the lot size!
I just reduced the price on my listing in Antelope.  8424 Palmerson Dr.  Well taken care of property!  3 bed, 2 bath, 1762 sqft listed at 279,000.  That's only 158 a sqft!  The roof is 5 years old and the heat/air is 1 year old.  Real hardwood floors, was a model home when the subdivision was built.

Thursday, October 1, 2015

Sacramento area real estate update:
It's fall - 10/1/15

We're seeing the market stall.  It happened relatively quickly.  Our listings are sitting there and well priced properties aren't selling.  What is the cause?
I think the answer is simple.  Seems buyers just aren't out and about.  The problem isn't affordability. With the change in demand we've seen prices dip and interest rates remain low, even coming down some as well.  I believe we're seeing the cyclical trend that happens around this time of year.  The slow down is happening a little sooner than normal though.  It's around the holidays when people tend to hunker down and stay put thru thanksgiving and xmas.  With all this told, this is the good time to buy.  Just like stocks, buy when others are selling and sell when others are buying.  Thats it today from your Roseville real estate agent.