Grove St: Before and After

Before and after!

Property Description

When we first picked up the Grove property some were concerned. It is an old house, some old house come with lots of problems, and not to mention some pretty poor choices in paint colors.  I however, was beyond excited. I knew there was some charm in there some where. The first big decision we made was the bathroom, it was dark, and well, ugly. I had seen many bathrooms in the bungalow style houses that had two pedestal sinks on both side of the window, we had the window… why not go for it?  Soon to follow were the additions of wainscoting, octagon flooring, and a new white toilet (the old one was blue- VERY blue). The second (half) bathroom was located awkwardly in the middle of the hallway and entrance into two bedrooms. We knew the bathroom had to go. So we relocated it into the laundry room. For the all over look we replaced the windows, painted the walls a much more welcoming color, did some major landscaping, put up some new fencing, and painted the exterior. The pictures really show all the hard work put into this house. They are truly amazing… enjoy! -Shelaine

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Median Sacramento home price breaks $200,000 barrier for the first time in nearly five years

April 18, 2013 by
By Hudson Sangree*
hsangree@sacbee.com
Published: Thursday, Apr. 18, 2013 – 12:17 pm
Last Modified: Thursday, Apr. 18, 2013 – 3:37 pm

The median home price in Sacramento County jumped more than 31 percent in March compared with the same month last year and broke the $200,000 barrier for the first time since 2008, DataQuick reported this morning.

The county’s $205,000 median price was the highest in nearly five years. It exceeded the median price in March 2012 of $156,000 and the median price in February of this year of $190,000, the San Diego-based information service said.

The continuing increase in the median is a product of the ultra-low inventory of homes for sale and strong demand from investors and traditional home buyers.

It’s also a product of a shift in the market from low-priced investment properties and starter homes to more expensive move-up houses.

The volume of sales in March in Sacramento County was down by about 10 percent last month compared with the same month a year before, another result of the ultra-low inventory of homes on the market.

Call The Bee’s Hudson Sangree, (916) 321-1191.

Read more here: http://www.sacbee.com/2013/04/18/5353321/median-sacramento-home-price-breaks.html#storylink=cpy

Foreclosures Plummeting as Market Returns

By Dan Morrison April 12, 2013 8:16 a. m.

Morrison Real Estate

As the California housing market continues to improve, home foreclosures plummet to less then 1/4 of the volume of just three years ago.  With the most dramatic fall being the last 3 months were the number of foreclosure notices dropped by a staggering 49%, to the low of only 309 homes in all of Placer county and 41%  to the low of 28,126 in all of California.

During that same 3 month period were only 309  homes in Placer county received foreclosure notices, Placer county saw 2,686 homes sale.  The 309 homes make up less then 12% of the market.  This number is sure to fall further as the spring selling season is well on its way and the number of homes coming on the market is blooming.

This will be the first real summer market of home owners selling homes and moving to new homes, since the market  collapse in 2008.

 

CA Filings

CA Filings

Checking Your Credit Report

By Dan Morrison Apr 9th, 2013, 8:11 p.m.
Morrison Real Estate

With the importance of credit scores in obtaining a loan of any kind, it’s a good idea to check your credit and request corrections to any item that may have been reported incorrectly.

How can I obtain a copy of my credit report?

Under federal law, you have the right to obtain a free copy of your credit report from each of the nationwide consumer reporting agencies once a  year.

To order your free annual credit report-

By phone:           Call toll-free 1-877-322-8228

On the web:       visit www.annualcreditreport.com

By mail:                Mail your completed Annual Credit Report Request Form

                                (which you can obtain from the Federal Trade Commission’s web site at)
                                  http://www.ftc.gov/bcp/edu/resources/forms/requestformfinal.pdf

            to:

                                 Annual Credit Report Request Service
                                P.O. Box 105281
                                Atlanta, CA 30348-5281
 

 What if there are mistakes in my credit report?

You have the right to dispute any inaccurate information in your credit report.  If you find a mistake on your report, contact the consumer reporting agency that is reporting it.  As I’m not sure how to really tell who reported it,  it’s probably best to report the mistake to all three.

There are three consumer reporting agency:  Equifax, Experian and TransUnion

To contact each you may write to the following address or use their online dispute page:

1)    By mail:

          Equifax Consumer Relations
          800-685-1111
          P.O. Box 740241
          Atlanta, Ga 30374-0193

       On line Dispute Resolution:

https://www.ai.equifax.com/CreditInvestigation/

 I tried the online dispute resolution page above and was not able to submit my dispute on line.  The system suggested that I fax my request into 888-826-0549; I did, let’s hope this works.   I also tried the phone number above.  I had a heck of a time trying to get anywhere.  I was forced to finally give up on the phone request and hope that the fax worked.

2)    By mail:

         Experian Consumer Relations
         888-397-3742
         P.O. Box 2002
         Allen, TX 75013

         On line Dispute Resolution:

http://www.experian.com/disputes/main.html?ps=pg

I tried the online dispute resolution page above and was not able to submit my dispute here either.  I’m starting to see an unfortunate pattern.  The web page provided absolutely zero help.   I also tried the phone number above. It’s a horrible example of phone automation and I was unable to get anywhere at all here either.   At this point I was forced to finally give up on the phone request and on line dispute.  My only option left was to mail in my request.  I mailed it to the above address with a hope that it might reach someone, but then if their other systems have any similarity, I’m not very confident it will go anywhere.

3)    By mail:

       TransUnion Consumer Relations
       800-916-8800
       P.O. Box 1000
       Chester, PA 19022
 

        On line Dispute Resolution:

https://dispute.transunion.com/dp/dispute/landingPage.jsp

Finally, a company that made the process easy and quick.  I went online to their dispute resolution page above, unfortunately I wasn’t able to get anywhere with the on line page.  I then tried the phone number above, and was pleasantly surprised to reach a real person fairly quickly.  Their customer service person was very helpful and resolved my issues right away. 

Thanks TransUnion!

 

Many underwater homeowners are coming up for air

The Fed reports that Americans have seen the equity in their homes jump nearly $500 billion in the last quarter of 2012 and $1.7 trillion since spring 2011.

By Kenneth R. HarneyMarch 15, 2013, 8:25 p.m.

WASHINGTON — Home equity is back, and it’s growing fast.

According to the latest data from the Federal Reserve, Americans’ net equity in their houses jumped nearly $500 billion during the last three months of 2012 and $1.7 trillion since spring 2011.

What does this mean to you personally? Depending on where your home is, it could mean that finally — after years of struggling with an underwater mortgage, one that exceeds the value of the home — you are seeing the market value of your property rise into positive equity territory, or at least closer to the break-even mark. Zillow Real Estate Research estimates that nearly 2 million U.S. homeowners exited negative equity status during 2012 alone.

It could also mean that should you wish to sell your house, you’re now in a better position to do so. And if your home is in one of dozens of markets that are experiencing severe shortages of listings for sale combined with strong demand from buyers, this spring could bring you a higher price than at any time in the last seven years.

Here’s what the Fed found in its “flow of funds” study released March 7:

• Thanks to recovering housing values, total home equity is now at its highest level — about $8.2 trillion — since the bust and is gaining rapidly. In 2012, it rose a stunning $1.2 trillion.

• Outstanding mortgage debt continued to fall as owners paid down their balances and refinanced into smaller loans, taking advantage of unprecedented low mortgage rates. Foreclosures and principal forgiveness by lenders also have helped whittle away mortgage debt. Americans now owe about $1 trillion less on their homes than they did in 2008.

Jed Kolko, chief economist for Trulia, an online real estate research and information company, said growing home equity has three key effects. First, owners feel wealthier and are more likely to spend some of that perceived wealth — even if it’s illiquid in the form of real estate equity — on goods and services.

Second, higher equity reduces the likelihood of mortgage defaults. People have a deeper financial stake in their properties and are less willing to risk loss through foreclosure.

Fewer delinquencies, in turn, “mean less stress on the financial system,” thereby reducing the probability of another banking crisis a la 2008-09, Kolko said in an interview.

Finally, by encouraging owners to consider selling — either now or later in the cycle when prices could be even higher — growing equity holdings allow the real estate market to work better, with more transactions, more mobility for families, more new construction, more jobs and so on.

Doug Duncan, chief economist for mortgage investor Fannie Mae, said the recent jump in equity “puts us back on track toward where we were prior to the crisis” and represents a “transition to normal” conditions in the housing market. Though there are markets where last year’s double-digit price gains look bubbly and unsustainable to Duncan — notably in some of the inland cities of California — the increases in values elsewhere tend to be more modest and solid, simply making up for the declines experienced in the latter half of the last decade.

One major market does concern him, however: Washington and its Maryland and Virginia suburbs. Though the District of Columbia has seen significant year-to-year gains in prices recently, Duncan said prices could “flatten out” if the federal budget sequestration and cutbacks in government jobs and defense spending continue for an extended period.

Despite the impressive increases in equity reported by the Fed, there’s a sobering flip side: There are still millions of owners — nearly 14 million, according to Zillow — who have negative equity. They are often the folks who purchased at the wrong time — near the peak of their local markets from late 2005 through 2006 — or used mortgages that required little or no down payment to buy bigger houses than they could afford.

In Miami and Phoenix, about 40% of owners have mortgage debt in excess of property value. In Tampa, Fla., it’s 41.5%; Chicago, 37%; Seattle, 33.5%; Columbus, Ohio, 29%; San Diego and Washington, about 28%; and Los Angeles, 24%.

The good news from the Fed for most of these owners: The odds are good that you are not as deep in negative territory today as you were 12 months ago.

kenharney@earthlink.net.

Distributed by Washington Post Writers Group.

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