The Home Search Place Blog

2833

2008-07-27T16:51:00.000-07:00

Address: 2833 Berkshire Way Sacramento, CA 95864
City: Sacramento
State: CA
Zip: 95864
Price: $230,000
Beds: 3
Baths: 2 (1 1)
Square Feet: 1,545
Lot Size: 0.190
mls: 70114657
Call Jason @ 916-412-2595 for more info.

What is a Real Estate Consultant?

2007-11-25T10:34:00.000-08:00

I make it a point to let everyone of my clients know that I am their 'Real Estate Consultant' and not just another agent out their. But what does that mean? The first part seems pretty clear as you can get the idea that I am not here to provide technical solutions to your database problems. But 'Real Estate' can mean a lot of different things. For instance, all of the following (and this is NOT and all inclusive list) are part of 'Real Estate':

Land (raw, sub-divided, developed, undeveloped, etc)
Residential Homes
Luxury Homes
Commercial Properties
Multi-family properties
Farms
Horse Property
Investment Property
Mortgage loans
Credit Reports
Financial Statements
Financial Planning
Home repairs
Inspections
Taxes
Contracts
Disclosures
Advisories
Zoning laws
Property use laws
Home Buyers
Home Sellers

This is just a small list of some of the aspects that would fall under the term 'Real Estate'. I am sure if you gave it a couple of seconds thought you could come up with a few more things that are involved in real estate. My point being that you cannot be an expert in ALL things real estate. But, you CAN be familiar with it enough that you see the interaction between the various parts and how they fit together.

That IS the job of the second part of that title, a 'Consultant'. Somebody who can consult with you on how it all works together. A consultant can be an expert on many of these items, but the key here is that a true consultant will know his or her best strengths and will keep to those. The true client advocate will use their knowledge as well as the knowledge of other experts to create a solution that is best. It is knowing the interactions between the various disciplines that make up 'Real Estate' and having the contacts and team members to go to that is the hallmark of a true 'Consultant'.

It is then the job of the consultant to, wait for it, CONSULT with the client! Find out the big picture and how this decision or move within the real estate world, will impact each individual client. Listen, learn, coach, and work towards the goals that create positive results in the clients lives. Using the experience, expertise, systems and contacts that a true consultant possesses.

It is not rocket science but is is a distinction that needs to be made. I could probably teach a monkey how to fill out a purchase contract. But just 'taking the order' has never been the real job of a professional. It is about going above and beyond the basics and into the phenomenal.

So remember, if you have ANY question about the Real Estate Market then make sure you are talking to someone who actually knows how it fits together and cares enough to tell you. Get a true Real Estate Consultant.

---
Jason Elrod
'Your Real Estate Consultant'

Keller Williams Realty
The EK Property Network Team
1-888-700-4839

Should You Own Your Home?

2007-09-08T12:32:00.000-07:00

The American Dream Of Home-ownership Isn’t Right For Everybody… Or Is It?

Weighing the pluses and minuses of home-ownership…Buying a home can be one of life’s most exciting and yet most challenging experiences.

With the numerous loan programs available to consumers today, it is easier than ever to get into a house. However, the question remains, "Should you own your own home or rent?"

There are many benefits to owning a home, but there are also just as many trade-offs. To help you decide if owning a home is right for you, we’ve listed the pros and cons of buying versus renting.

Equity

One of the most common complaints among renters is the discouraging feeling that you are simply throwing your money down the drain. This is typically true for the homeowner who lives in a specific house for a long time.

However, building equity isn’t an automatic universal truth. In some cases the property values are too high to start with, so the resell just won’t net you a profit. In other cases, the property values don’t increase at all.

Buying: You build your equity with every payment made. For the first half of the mortgage, most of each payment is interest.

However, every month some part does go towards your principle. Your equity will fluctuate as the market value of your home changes. Over time though, history has shown us that building equity in a home is a smart investment.

Renting: You pay for a place to live, period. While you have a lease for a certain time period, you are not investing in the home. The plus side is you have no responsibility for ongoing repairs, but you are also not building equity. However, you are investing for the landlord. You are essentially making the landlord’s payment and building her equity.

Monthly Payments: In many cases, depending on the home that you plan to purchase, your monthly payments will likely be comparable to your current rent or quite possibly much higher.

Many first time buyers purchase a "starter home." This may be a smaller or an older home that can be purchased at an affordable cost.

As mentioned above, you can begin to build equity in this home and you can then upgrade to a more expensive home in a few years.

Buying Costs: These can fluctuate somewhat on a yearly basis over the first few years due to escrow adjustments. After this initial adjustment period, however, your payment could be fixed for the remainder of the loan, assuming you opt for a fixed interest rate.

Renting: Costs are fixed at least for the term of the lease (generally 1 year) but usually increase after the lease expires.

Up-front Costs: Up-front costs are possibly the most misunderstood aspect to the home purchase and the one that keeps most renters from even researching a purchase. The perception that you must have a huge down payment to purchase a home is no longer accurate in most cases today.

Buying: Typically requires a larger investment than renting initially. However, there are many programs that require very little for down payment.

Renting: Usually does not require as much up front as buying, but still requires fees such as deposit, pet deposit, 1st month's rent and possibly more.

Tax advantages: One of the most advantageous aspects to home-ownership.

Buying: There are significant tax advantages to home-ownership.

Interest that you pay on your mortgage and property taxes are all deductible. These deductions can make a huge impact on your federal and state tax returns.

Renting: Renting offers no tax advantages. Only your landlord will reap tax benefits that are available.

Other Considerations:

Maintenance

Buying: Any maintenance must be done and paid for by you. Home maintenance costs average about 1% of your home’s value per year.

Renting: You typically are responsible for very little maintenance and maintenance costs when you rent.

Time to Move

Buying: If and when you want to move, you will have to sell your home first.

Renting: Your only concern is fulfilling your lease.

A Place to Call "Home"

Buying: You have the right to remodel and redecorate at your discretion. You own it; you can do with it what you wish.

Renting: You have very little flexibility besides decorating the home. Carpet, wallpaper, paint, etc. are all items that the landlord will change at his discretion with little or no input from you.

We sincerely hope these tips and ideas are of value to you. If there is any way we can be of service, please contact our office.

We would consider it a privilege to be of service to you! If you would like a FREE consultation, call me at 916-626-4266

Warmly Yours,

Jason Elrod, Realtor

Keller Williams Realty

The EK Property Network Team

www.EKPropertyNetwork.com

Great New Listing in Granite Bay - only $515,000

2007-04-15T10:02:00.000-07:00

Would you like to live 5 minutes to Folsom Lake? How about being in the best school district around? Need room for your growing family? Then this is the home for you.

Take advantage of your chance to own an immaculate home in a great Granite Bay neighborhood. This 2374 sft, remodeled home has a private backyard, granite in the kitchen and plenty of room for your family. Eureka schools and the lowest price per sft for a home of this caliber.

Visit http://www.6933BrandyCir.com for more pictures, more information, virtual tour and to request a showing today!

-Jason Elrod

Get ready for Spring!

2007-04-11T18:57:00.000-07:00

Just a quick post to send out some Spring time greetings to everyone!

Spring is the beginning of the 'Property Season' every year and this is year is no different. Properties that have sat over the winter months are starting to move and Buyers are starting to come out of hibernation to grab some of the great deals that are out there in the market.

NOW is the time to be a Buyer so don't let the moment pass you by. Houses and investments are now more affordable than ever. If you have played your cards right, you have the money and the motivation to grab the best of the 'fire sale' properties that are both on the market and coming on in the next few months. Get ready to make your move!

More later.

-Jason

No Bank Qualifyig - No Credit / Bad Credit OK - 100% Owner Financing on Great Roseville Home

2007-02-09T09:27:00.000-08:00

Only 3 payments+closing costs moves you into this beautiful 5 bedroom / 3 bathroom home. 4 Bedrooms upstairs and 1 downstairs makes a great setup for guests/in-laws. 5th bedroom is large bonus room that could also be used as a home office.

Only $2695 / mo +tx & ins!!!!

Call today for more info: Jason @ 916-412-2595

or visit

http://www.609GardenPark.info

for more pictures and virtual tour!

Gradual Rise Projected for Home Sales

2007-01-20T11:00:00.000-08:00

WASHINGTON, DC -- /PRNewswire-USNewswire/ -- After bottoming in the fourth quarter of 2006, existing-home sales are forecast to gradually rise through 2007 and into 2008, while new-home sales should turnaround by summer, according to the latest forecast by the National Association of Realtors(R).

David Lereah, NAR's chief economist, said annual totals for existing-home sales will be fairly comparable between 2006 and 2007. "We have to keep in mind that we were still in boom conditions during the first quarter of 2006 with a high sales volume and double-digit price appreciation," he said. "We're starting 2007 from a relatively low point, so even with a gradual improvement in sales it'll be pretty much of a wash in terms of annual totals.

The good news is that the steady improvement in sales will support price appreciation moving forward."

Existing-home sales for 2006 are expected to come in at 6.50 million, the third highest on record, with a total of 6.42 million seen in 2007. New-home sales in 2006 should tally 1.06 million, the fourth highest on record, with 957,000 projected this year.

Total housing starts for 2006 are likely to be 1.81 million units, with 1.51 million forecast in 2007, which would be the lowest level in a decade. Builders are pulling back on new construction to support prices of remaining inventory.

The 30-year fixed-rate mortgage will probably rise to 6.7 percent by the fourth quarter of 2007. Last week, Freddie Mac reported the 30-year fixed rate at 6.18 percent - far below earlier consensus forecasts. "The current interest rate environment and housing inventory levels present a window of opportunity for potential buyers," Lereah said.

The national median existing-home price for all of 2006 is expected to rise 1.1 percent to $222,100, and then gain 1.5 percent this year to $225,300.

The median new-home price, after rising only 0.3 percent to $241,600 in 2006, is projected to grow 3.0 percent in 2007 to $248,900.

"With all the wild projections by academics, Wall Street analysts and others in the media, it appears that much of the housing sector is experiencing a soft landing," Lereah said. "Despite the doomsayers, household wealth will not evaporate and the economy will not go into a recession. If you're in it for the long haul, housing is a sound investment."

The unemployment rate is likely to average 4.8 percent this year, following a rate of 4.6 percent in 2006. Inflation, as measured by the Consumer Price Index, is expected to be 2.2 percent 2007, down from 3.2 percent last year, while growth in the U.S. gross domestic product is seen at 2.5 percent in 2007, compared with 3.3 percent last year. Inflation-adjusted disposable personal income should grow 3.4 percent this year, following a rise of 2.7 percent in 2006.

The National Association of Realtors(R), "The Voice for Real Estate," is America's largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.

Existing-home sales for December will be released January 25; the Pending Home Sales Index is scheduled for February 1 and the next forecast will be February 7.

Information about NAR is available at http://www.realtor.org/. This and other news releases are posted in the News Media section. Statistical data, charts and surveys also may be found by clicking on Research.

Source: National Association of Realtors

How much for that Christmas Spirit in the window?

2006-12-15T15:34:00.000-08:00

Well, it is that time of year again where the lights go up on the houses and the trees make there way into living rooms across America. Credit cards are being stretched and the stress levels are up. I see people around me running here and there trying to get 'the list' taken care of and wondering how they are going to put up with the relatives and the credit card bills that are sure to follow. Songs of the season provide background noise that brings a surreal feel to the whole hustle and bustle whirling about. Christmas time is upon us and it seems to me that a small pause is in order.

That being said, I am going to share with you my recipe for staying sane during the holiday season and maybe, just maybe finding a way to connect with that elusive Christmas Spirit.

10 steps to finding the Christmas spirit.

1 - Hold the door open for a stranger. It sounds simple but this can really make the day for someone. It also makes you feel good inside for doing something for someone else. Oh, and say Thank You when someone holds the door open for you.
2 - Give to your local food bank. The anonymous gift of food (a can or two will do) can make all the difference in the world to the family who needs a little help.
3 - Give an anonymous child's gift to your local orphans home. A new toy (for boy or girl) dropped off / donated to your local childrens home can bring more joy and hope to this world than you could possibly believe.
4 - Call an old friend and wish them a happy holiday. Make it someone who you don't' talk to all the time. Make it a surprise and random.
5 - Read a christmas story. A cup of hot cocoa and your favorite christmas story will be sure to slow you down and get your more in touch with what you liked about Christmas as a child. Read it out loud to your own kids if you have them and give them the gift of time with you. It will be remembered long after that plastic, blinky, super toy under the tree has broken and been added to the local landfill.
6 - Watch your favorite Christmas TV special. We can all remember the tales of Frosty the Snowman or perhaps the Year Without Santa Claus (Heat Miser anyone?). See my comments about slowing down with the cup of cocoa or some egg nog I mentioned above. Note, this doesn't count as the same quality time as reading to your kids but is good for 'extra credit' if you watch it with them.
7 - Make cookies and give some away to your neighbors or friends. Making a good old batch of sugar cookies with plenty of sprinkles can be a lot of fun (especially if you add some spiked nog to the baking process). Plus, home made cookies are great gifts for those adults on your list. Forget buying that $10 random gift and go with the cookies. Everyone will find a use for the cookies and you can rest assured it won't be re-gifted at the next office party.
8 - Leave work at the office. For once this year, leave all that 'extra' work at the office and enjoy a little home time. Even if it is just you, a glass of wine and that holiday classic 'A Christmas Story' on TV. Your sanity depends on some down time. Give yourself the gift of just being you. Think balance during this crazy season and it will serve you well. I promise.
9 - Wish those around you a Merry Christmas. I know over the last few years there seems to be some kind of war against wishing people a 'Merry Christmas'. Too much political correctness if you ask me. I think that if you want to wish someone a Merry Christmas then do just that. Don't think you have to go with a generic 'Happy Holidays'. Be specific and say what you feel. Be it Christmas, Hanukkah, Kwanzaa or what not, make your well wishing a reflection of your beliefs. And if a 'Happy Holidays' is your way then go ahead and make that wish. Bottom line with this item it to spread the joy.
10 - Take the time to think of all the good things in your life. Pick a day and set aside an hour or two to just reflect upon all the good things you have in your life. Health, job, family, friends, a good book you read or a great movie you saw. Anything and everything you can remember about the last year that brought a smile to your face or warmth to your heart. Take a moment to remember how it felt then, and let that feeling come to you again and enjoy it once more. Joy and thankfulness can be found in the strangest places sometimes and it can be as simple as a good joke or a beautiful sunset. Take the time and remember it now. See the sights, hear the sounds and feel the feelings again. Take as much time as you need to get that feeling back now, and then take that with you through the rest of the year.

I hope this helps bring a little sanity and joy into your life this season and even if you just try a couple of the above suggestions, I promise that it will go a long way in bringing the Christmas spirit home.

So have a Merry Christmas and make sure to spread the word.

----

Jason Elrod

Remodeled Granite Bay Home in Lakeview Hills!!

2006-11-28T17:13:00.000-08:00

Whatever you do, don't miss out on this great home in the desireable Lakeview Hills Community in Granite Bay! At only $729,000 this home offers everthing from RV & Boat storage to over 2800+ SF of remodeled living space. Located at the end of a private cul-de-sac, you will feel great coming home to this comfortable and spacious home.

For more information or to arrange a showing call:
Jason Elrod, Realtor at 916-412-2595.

Buy this and get a FREE VACATION GETAWAY!

2006-10-16T11:21:00.000-07:00

Buy this picture perfect home
and get a FREE VACATION GETAWAY!

$498,000
MLS# 60082846

5 bedroom
3 bathroom
2176 SFT
3 car garage
Large Workshop Area in Garage
Built 1999
Fully Landscaped Front & Rear
Close to Shopping and Commute
Whole House Audio
Whole House Networking
Roseville School District
Visit the custom website at:
www.609GardenPark.info

Clck on the Picture to View the Virtual Tour!

For More Information Call Jason
916) 412-2595
Or visit Granite Bay Homes & Lifestyle on the Web at:
www.GraniteBayLifestyle.com

Mortgage Rates Fall to 5-Month Low!!!

2006-09-08T19:01:00.000-07:00

08/24/06 (PRNewswire): Mortgage rates declined for the seventh time in the last eight weeks, aided by last week's better-than- expected reading on the Consumer Price Index. The average 30-year fixed rate mortgage fell to 6.48 percent, the lowest since March 29. According to Bankrate.com's weekly national survey of large lenders, the 30-year fixed rate mortgages had an average of 0.32 discount and origination points.

The average 15-year fixed rate mortgage, popular for refinancing, dropped by a similar amount to 6.19 percent. On larger loans, the average jumbo 30- year fixed rate declined to 6.74 percent. Adjustable rate mortgages also backtracked. The average 5/1 adjustable rate mortgage slid to 6.24 percent, and the average one-year ARM retreated to 6.00 percent.

Slower economic growth and the Fed hitting the pause button have helped bring fixed
mortgage rates to a five-month low. Although inflation remains a threat, bond investors are confident in the Fed's forecast that inflation will recede as the economy cools. Bond yields and fixed mortgage rates both reflect some concern on the part of investors that the economy will slow too much, causing the Fed to cut rates at a later date. Fixed mortgage rates are closely related to yields on long-term government bonds.

Fixed mortgage rates have fallen nearly one-half of a percentage point since the Fed last hiked rates at the end of June. At the time, the average 30-year fixed mortgage rate was 6.93 percent, meaning that the monthly payment on a loan of $165,000 was $1,090. With the average 30-year fixed rate now 6.48 percent, the same loan originated today would carry a monthly payment of $1,040.74. With the recent pullback, fixed mortgage rates remain an attractive refinancing alternative for adjustable rate borrowers facing sharp payment adjustments.

SURVEY RESULTS
30-year fixed: 6.48% -- down from 6.51% last week (avg. points: 0.32)
15-year fixed: 6.19% -- down from 6.23% last week (avg. points: 0.27)
5/1 ARM: 6.24% -- down from 6.28% last week (avg. points: 0.29)

Bankrate's national weekly mortgage survey is conducted each Wednesday from data
provided by the top 10 banks and thrifts in the top 10 markets.

For a full analysis of this week's move in mortgage rates, go to:
http://www.bankrate.com/mortgagerates

Motivated Seller on Immaculate Antelope Home

2006-08-31T20:40:00.000-07:00

ANTELOPE - 5308 Tierra Vista Way

4 Bedroom
2 Bathroom
Pool
Light, Bright and Full of Space
Roseville Schools

$375,000

Call for Details!
916-412-2595

For More information:

www.5308TierraVista.info
---
Jason Elrod, Realtor
'Your Real Estate Consultant'
916-412-2595

September Home of the Month

2006-08-31T20:33:00.000-07:00

**EXCLUSIVE MORGAN CREEK GOLF HOME**
**OVER $30K INSTANT EQUITY AT THIS PRICE**

3587 SFT
4 Bedroom
4 Bathroom
Guesr/In-Law Qtrs

Offered at $764,000

For more information:

www.9670Pinehurst.info

---
Jason Elrod, Realtor
'Your Real Estate Consultant'
916-412-2595

Morgan Creek Golf Course Home

2006-08-31T20:31:00.000-07:00

ROSEVILLE – 9205 Pinehurst Dr.
Magnificent Morgan Creek Golf Home
4 bedrooms 3 bathrooms 3212SF 3 car Garage
Golf Course Lot
Gourmet Kitchen More Information at: www.GraniteBayLifestyle.com

Offered at $829,000
---
Jason Elrod, Realtor
'Your Real Estate Consultant'
916-412-2595

Lincoln Home on Court That is Priced to Move!

2006-08-31T20:17:00.000-07:00

LINCOLN – 253 Saint Croix Ct
Great Home on Court
Right down the Street from Park!
3 Bedroom + Den
2 Bathroom
2171 SFT
Pool
Spa/Hot Tub & Gazebo
Built-in BBQ

More Information at: www.253SatinCroix.info
Offered at $449,900

---
Jason Elrod, Realtor
'Your Real Estate Consultant'
916-412-2595

Amazing Price on Executive Home in Roseville

2006-08-31T20:05:00.000-07:00

ROSEVILLE - 609 Garden Park Dr

5 Bedrooms
3 Bathrooms
2176 SFT
3 car Garage

Guest/In-Laws Qtrs Downstairs

Offered at:

$499,000

For more information:

www.609GardenPark.info

---
Jason Elrod, Realtor
'Your Real Estate Consultant'
916-412-2595
Jason@GraniteBayLifestyle.com

3 Bedroom / 2 Bath / 1504 SFT Home in Roseville, CA - $414,000

2006-08-28T10:43:00.000-07:00

$414,000 for this immaculate Roseville home. This well maintained home on a quiet cul-de-sac is perfect for your family. Close to schools, parks, shopping and a short commute to the hwy. Enjoy the backyard retreat with plenty of room to entertain. Check this out today!

Click here for the Google Map to the property:

1456 Lorimer Way, Rockville ca 95747

http://www.1456Lorimer.info
---
Jason Elrod, Realtor
'Your Real Estate Consultant'
916-412-2595
Jason@GraniteBayLifestyle.com

July Issue of Granite Bay Homes & Lifestyle

2006-07-03T13:42:00.000-07:00

Grab the latest issue of Granite Bay Homes & Lifestyle Newspaper in .pdf format! The full newspaper is available for download. If you want to receive this via email or directly to you home address each month, then visit http://www.GraniteBayLifestyle.com and sign up for FREE delivery.

Enjoy!

---
Jason Elrod, Realtor
'Your Real Estate Consultant'
916-412-2595
Jason@GraniteBayLifestyle.com

$729,000 - Executive Home in Natomas Park

2006-07-02T13:28:00.000-07:00

This 3,881 Sq Ft home in the prestigious area of Natomas Park as it all. 5 bedrooms, 4 bathrooms, a HUGE kitchen with granite slab island, real wood and tile floors, cherry cabinets throughout and much, much more. You will enjoy the built-in BBQ with refrigerator and keg-o-rator while relaxing in the fully landscaped backyard. A lush, green lawn area along with a conversation space and outdoor fireplace, makes for your own private retreat to enjoy with friends, family or perhaps a glass of wine on a starry night.

visit: www.5582Kalispell.info and check out the VIRTUAL TOUR and some additional photos.

When you are ready now, call Jason Elrod to setup a showing or for more information.

(916) 412-2595

"Welcome Home."

---

Jason Elrod, Realtor

'Your Real Estate Consultant'

jason@ElrodRealEstate.com

http://www.ElrodRealEstate.com

http://www.GraniteBayLifestyle.com

http://www.GraniteBayHomeNetwork.com

For Sale By Owner - Good Deal or Ordeal?

2006-06-10T22:59:00.000-07:00

The prospect of saving thousands of dollars is appealing to most home sellers. Choosing to sell your home without the assistance of a real estate professional is a decision that should be looked at very carefully. For some, it may appear to be a viable option, for others it can foster anxiety and risk to an already tenuous process. I have listed below several areas to consider before undertaking the responsibility of selling your home on your own:

* Preparing your home for sale; Curb appeal, cleanliness and safely securing your valuables is important to getting top dollar without taking risks when strangers are viewing your home.

* Establishing the "right" sales price; This is one the most difficult strategies to attracting and securing a sales contract. There is a delicate balance of asking too much or too little. Working knowledge of local sales and resale trends is a definite advantage.

* Marketing your property; Advertising is available in many forms, some vehicles will create a better rate of return than others; Be prepared to field phone call inquiries and request for viewing. Property fliers and yard signs should also be on your list.

* Qualifying potential buyers; How familiar are you withprequalificationn letters and the pre-approval process? It can be costly to get involved with a buyer who tangles up your home during the peak selling season, just to have the deal fall apart later when the can't secure financing.

* Executing mandatory documents; State and federal law require a myriad of disclosures to be properly completed and delivered to buyer within strict time frames. Make sure you are familiar with the mandates and where to get appropriate forms in your area.

* Assembling a Support team; It is likely you will need to establish rapport with the following professionals to assist you in completing your home sale: Escrow Officer, Lender, Appraiser, Home Warranty Rep., Home Inspector and Pest Control (termite) Company.

Although many FSBO sellers have succeeded to save money in the last few years, many more today are shelling out thousands in monthly payments and wondering why their home hasn't sold. As the market continues to "normalize," it is more important than ever to consider enlisting the assistance of a real estate agent. Research shows that somewhere between 75% and 85% of all buyers were introduced to the property they purchased by a real estate agent. With local inventory of homes for sale up over 200% from last year, it certainly makes sense for those who are looking to close reasonably soon, to take advantage of the tools, expertise and negotiating skills of a professional. And you'll sleep a lot better too!

By Teri Edwards of Financial Title Company located at 3001 Lava Ridge Court, Suite 160 in Roseville. For additional information on title and escrow related matters, Teri can be reached at 916.223.8313.

Taken from the June 2006 Issue of Granite Bay Homes & Lifestyle Newspaper

What the Heck is Happening to the Market?

2006-06-01T15:32:00.000-07:00

As a professional in the Real Estate business, I get asked this question a lot. The fact is that the market is changing. But it does that every day and in every transaction that is made. It changes. Many times I tell people that it is starting to "Normalize" after the last several Gold Rush years of appreciation. The pendulum is swinging (and in many cases has already swung) back to the center. It is going from a Sellers Market towards a Buyers Market. Once I give that answer, there is usually a follow-up question that goes something like "What does that mean?". I say "It means that Buyers have more bargaining power and choices in the types, conditions and locations of the properties that they can buy." Fading away are the days when you could just list your house and have several offers appear within a few days. Gone are the days when you could price your property 10%-20% over the last sold within 30 days and expect to get it. In several places, the number of available properties on the market have doubled or even tripled. The law of supply and demand is exerting its influence. Even with the demand for property being the same, the supply has sky rocketed. This alone will cause a market to soften and slow.

But wait, there is more... Rising interest rates make each dollar buy a little bit less of a house than it did just a year ago, and the rates are still rising. This takes the available pool of Buyers who can afford that expensive house and shrinks it. So the demand for higher priced properties dwindles.

Sounds like quite a bit of doom and gloom doesn't it? Well if you are a speculator or gambler in your real estate decisions, then it should be a big wake up call. But if you are an investor or prudent planner in you real estate dealings then the time is right to get moving. It is time to take that nice equity line and start looking for the deals, because they are starting to pop up. It is time to start building your real estate portfolio. The time to buy is when the market it low and the time to sell is when it is high. But in real estate we get to leverage the equity without having to sell. Inventory is continuing to increase, prices are starting to stagnate and they may even fall a bit. Many people have gotten in over their heads with adjustable rate mortgages that are starting to increase and in order to save their credit (and sanity), they will be selling. As the prices drop and the time of the Buyer begins, will you be ready?

So, to get back to the question, 'What the heck is happening with the market?', I guess you could say it is being a market place. Prices going up and prices going down. Supply and Demand. Buyers and Sellers. Investors and Gamblers. I think a better question to ask may be 'What are YOU doing with the market?'

---
Jason Elrod
Realtor, SRES, eAgent & Investor
'Your Real Estate Consultant'
Keller Williams Realty

jason@GraniteBayLifestyle.com
Ph. (916) 412-2595
http://www.ElrodRealEstate.com

Investment Alert! - Light Fixer in Rancho Cordova

2006-05-22T19:30:00.000-07:00

Here is your chance to grab a great property for an even better price than normal. This 3 bedroom, 1 bathroom home in Rancho Cordova is ready for you to make the move and put a small investment in for BIG returns. This home has a newer roof, dual pane windows, central HVAC and the kitchen was recently updated. The bathroom should be done soon and all that will leave for you is some carpet, paint and decorating!

Perfect for the first time owner or investor, this is a structurally sound home in a neighborhood that shows a lot of pride in ownership. A private backyard and covered patio await. Make your move, because if not now, then when?

For more information, click here to check out the Virtual Tour.

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Jason Elrod
Realtor, eAgent, SRES
Keller Williams Realty

(916) 412-2595

http://www.ElrodRealEstate.com

Flying the Empty Nest: Strategies for Downsizing

2006-04-29T14:05:00.000-07:00

Are your children living on their own, married, or off to college? Have you decided to replace your family home with a smaller residence? Whether you want to focus on other priorities, or build the cottage or beach house you’ve always dreamed of, or simply no longer wanting to spend energy maintaining a large home, consider the following strategies for downsizing your home:

Decide Where To Go
Think and map out what you want to do next:

• If schools have always prioritized where you have lived, now think about other criteria important to you, such as rural living or closer proximity to recreational pursuits.

• Consider laying the groundwork for a retirement lifestyle. Your new home could also be the one you retire in.

• With fewer living expenses, you may have more expendable income and find that you can increase the luxury or convenience of your lifestyle.

• Determine how much space you actually need. Examine your current home and subtract the square footage of rooms you don’t need anymore. Add in the measurement of new spaces you might want, such as a workshop or sunroom.

Sort Through Your Stuff

• Where do you begin if your current home is packed full with a generation’s worth of accumulation?

• If you have grown children’s belongings in the house, next time they are home, have them sort their things into four piles: what they’ll take right now, what they need you to hold for them, what they want to give away, what can be tossed.

• Go through the rest and determine future needs. Some possession might be family-sized, such as camping gear. Do you foresee future activities of a similar nature? Other possessions might be house-oriented. For example, if you’re moving to a townhouse, you can sell the lawn mower and weed whacker.

• Keep memorabilia and other sentimental keepsakes in the family while getting them out of your house. Give your grown children the arts, crafts, projects, trophies, and holiday decorations they had as kids. They may appreciate having them as they start creating their own family traditions.

• Be sure to keep your best stuff. For example, if you have several sets of dishes, plastic, stoneware, and china – consider giving up the plastic, and maybe the stoneware, to your child setting up his or her own household. Make the china your everyday dishes.

When In Doubt, Throw It Out
Many possessions are emotionally laden or maybe you’re just overwhelmed with the thought of “maybe we’ll need it someday”. While sorting your stuff through this difficult process, keep these suggestions in mind:

• If you haven’t used something in a couple of years, it’s probably a good choice for the out pile. Will it be worth the effort of packing, moving, and unpacking the item?
• Think about the space of your new home and where you will put the stuff you are keeping.

• Put any items you can’t decide on into a separate box. Revisit the box after you’ve thrown out some other things. The decisions will get easier.

• If it’s still too difficult, put questionable items into a sealed and dated box but don’t list the contents. If you don’t open the box within a year, give the box to charity.

Selling a family home is never an easy decision. If you are thinking of downsizing, use the experience and knowledge of a Seniors Real Estate Specialist® (SRES®) to carefully guide you through your transactions.

SRES® designees are REALTORS® who have demonstrated the knowledge and expertise to counsel senior clients through the major financial and lifestyle transitions involved in relocating, refinancing, or selling a family home. A REALTOR with the SRES designation can also refer you to other professionals such as a C.P.A., estate planner, or attorney who also have a specialty interest in senior clientele issues.

Source: MSN.com. “Flying the Empty Nest.”

--
Jason Elrod
Realtor, eAgent, SRES
Keller Williams Realty

(916) 412-2595
http://www.RetiredLivingNetwork.com

IS YOUR HOME SMART COLLATERAL?

2006-04-21T09:45:00.000-07:00

Using your home as collateral for a loan is a risky undertaking because if you become unable to make the loan payments for whatever reason, the lender can collect your home instead. This risk is one reason why the federal Home Ownership and Equity Protection Act (HOEPA) mandates certain protections for consumers who obtain a high-cost loan, as defined by law. These protections are as follows:

• The lender must make certain required disclosures at least three business days before the loan transaction closes.

• It is illegal for the lender to disperse loan proceeds directly to a home improvement contractor.

• A high-cost loan cannot have a balloon payment or a big final payment that’s due sooner than five years.

Be sure to consult a trusted attorney, financial advisor or other qualified person before you obtain a loan secured by your home. If you ever have second thoughts about a loan transaction, contact an attorney immediately. Acting quickly may preserve a right to cancel the loan.

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Jason Elrod
Realtor, eAgent, SRES
Keller Williams Realty

(916) 412-2595
http://www.RetiredLivingNetwork.com

Where Do You Want To Live?

2006-04-15T11:03:00.000-07:00

Many retirees continue living in the same city where they built their careers and raised their families. Others, freed from the ties of employment, are enthusiastic about relocating to a new community. If the idea of a new lifestyle in a new hometown appeals to your sense of adventure, here are some questions to ponder before you make your move:

• Do you prefer a sunny setting, a rainy climate or a snowy winter environment?
• Would you enjoy living in an active seniors community? Near a college campus? Closer to your children or grandchildren?
• Would you enjoy living in a community with a golf course, a tennis club, a swimming pool or other activities for seniors?
• Would you like to live in a home that’s smaller, larger or the same size as your current residence?
• Would you prefer a detached home or a condominium?
• What type of floor plan would suit your lifestyle? Do you need a guest bedroom? Extra storage space? A large kitchen? A gardening plot?

Source: “Guide to Retirement Living”

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Jason Elrod
Realtor, eAgent, SRES
Keller Williams Realty

(916) 412-2595
http://www.RetiredLivingNetwork.com

Money on the House-Withdrawing Equity for the House Rich and Cash Poor

2006-04-13T21:01:00.000-07:00

Are you one of many homeowners who are having trouble making ends meet each month? Are all of your assets tied up in your home and you are living primarily on Social Security? Many Americans have found themselves in this situation and are using their homes to provide them with the extra income they need and deserve. Consider a few of the options listed below to give yourself more financial freedom and peace of mind:

1. Rent Out One or More Rooms- Especially if you live near a college town, a popular vacation destination, or a community that is currently experiencing a rapid increase in population, it will be very easy for you to secure a substantial monthly income by renting out a spare bedroom. The fear of a troublesome tenant or losing privacy is very real and should be taken very seriously. But, by using good judgment, thorough screening techniques, and securing a large deposit many problems can be avoided and the experience can be very fulfilling. A report by an associate professor, Deborah Altus, at the Kansas State University has found that seniors who have roommates ate and slept better, had higher activity and energy levels, and worried less about money and safety, they liked their homes more and followed the news more closely. (To read a short article on her report, go to: http://www.wfu.edu/users/harrwt1/RetireesWithRoommates.htm)

The National Shared Housing Resources Center of the AARP operates a home sharing programs in 200 communities throughout the U.S. To access their national database go to: http://www.nationalsharedhousing.org/

2. Move to a Less Expensive Home- Why not move to a smaller home or purchase a condo? You can bank a significant amount of the equity in your home and cut expenses at the same time. Imagine having less house and yard to clean and maintain, freeing up more time and money to travel or pursue other hobbies. If you are considering relocating to a smaller, more manageable home, contact your local SRES® Agent. To find one in your area, click on the SRES Specialist button on our homepage: http://www.seniorsrealestate.com/

3. Sell Your Home and Become a Renter- Renting can be an affordable, sensible option for those who want to remain independent but want somebody else to be responsible for the maintenance and repairs. Selling your home and renting can free up all the equity in your home for other needs as well. Contact your local SRES® Agent to discuss your options.

4. Get a Reverse Mortgage- If you want to remain in the family home and preserve some of the equity, you may want to consider a reverse mortgage. The concept is simple: you, the homeowner, trade some of the equity in your home in exchange for a monthly payment from a bank or other lender. The payment can be in the form of a lump sum, a monthly payment, or a line of credit that you can draw upon as needed. After your death, or the sale of your home, the lender is repaid (plus interest, of course). Whatever is left over goes to you or your heirs. If you want more information on a reverse mortgage, contact your local SRES® agent, or contact the Fannie Mae Foundation at 1-800-7FANNIE and ask for a reverse mortgage marketing kit, along with their Five Steps to Safety brochure that tells you things to look for when shopping for a reverse mortgage.

Source: http://www.grandtimes.com/house.html

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Jason Elrod
Realtor, eAgent, SRES®
Keller Williams Realty

(916) 412-2595
http://www.RetiredLivingNetwork.com

4001 Karl Dr - 3 bedroom / 1 bathroom $306,000!

2006-03-25T19:37:00.000-08:00

Here is a place that is perfect for the first time owner or investor. At only $306,000 this house is a bargain. It has had a complete kitchen remodel and has new cabinets, tile flooring and stainless steel gas range. An easy move to you new house. Go buy this house yourself and you will see where you could be living and gaining equity instead of sending your money down the rent drain!

On the web at http://www.4001karl.info

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Jason Elrod
Realtor, eAgent
Keller Williams Realty

(916) 412-2595
http://www.elrodrealestate.com/

Ask me about my "No Hassle" listing program that gets property sold and money in your pocket!

REDUCED AGAIN!!! 3 bedroom / 2 bath home

2006-03-25T19:31:00.000-08:00

I have a great place available right now for only $364,000. That is another $5000 off on well taken care of home. The house is move in condition with wood laminate floors, built-in pool, updated bathrooms, updated kitchen tile, and new ladscaping. A large backyard has plenty of room for entertaining as well as the pool. Sellers are motivated as they are moving out of the area. Additonal pictures and information (including a virtual tour) can be seen at:

http://www.5892Hillsdale.info

Who Are the Senior Real Estate Specialists®?

2006-03-04T21:03:00.000-08:00

Seniors Real Estate Specialists® are REALTORS® qualified to meet the special needs and concerns of maturing Americans. A national program since 1998, The Senior Advantage Real Estate Council® (SAREC®) offers a specific designation, SRES®, to identify those members who have successfully completed its education program along with other prerequisites.

By earning the SRES® designation, your REALTOR® has demonstrated necessary knowledge and expertise to counsel senior clients through major financial and lifestyle transitions involved in relocating, refinancing, or selling the family home. Your REALTOR® has received special training, gets regular updates, and is prepared to offer the options and information needed in making life changing decisions.

Motivated Sellers-SFR 3/2 - REDUCED PRICE!

2006-02-25T13:43:00.000-08:00

I have a great place available right now for only $369,900. The house is move in condition with wood laminate floors, built-in pool, updated bathrooms, updated kitchen tile, and new ladscaping. A large backyard has plenty of room for entertaining as well as the pool. Sellers are motivated as they are moving out of the area. Additonal pictures and information (including a virtual tour) can be seen at:

http://www.5892Hillsdale.info

Sacramento, Granite Bay, Roseville and Folsom Home Network

2006-01-09T21:14:00.000-08:00

I am pleased to announce the addition of region specific portals to the The Home Search Place family of websites and information resources. In the upcoming weeks keep an eye out for the following new home portals:

www.SacramentoHomeNetwork.com
www.RosevilleHomeNetwork.com
www.GraniteBayHomeNetwork.com
www.FolsomHomeNetwork.com

Each site will be tailored to provide news and information about schools, demographics, property data, businesses and more.

Thanks!

---
Jason Elrod
Realtor, eAgent
Keller Williams Realty
(916) 412-2595
Jason@ElrodRealEstate.com

Ask me about my "No Hassle" listing program that gets property sold and money in your pocket!

Happy New Year!

2006-01-04T20:02:00.000-08:00

Welcome to 2006 and I am sure that it will be a year to remember. I hope everyone had a great holiday season and a safe, enjoyable new years eve. Over at www.homesearchplace.com a few new updates have been made to make it easier to find the properties you are interested in. I have added some quick news and weather links for Sacramento, Roseville and Granite Bay as well as a page that has all the latest news stories for the local Granite Bay High School. Cruise on over and take a look at them and make sure and watch for more updates soon! As always, you can take a look at my personal real estate resource site at http://www.ElrodRealEstate.com and let me help you with any of your home or investment needs.

Thanks!

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Jason Elrod
Realtor, eAgent
Keller Williams Realty
(916) 412-2595
Jason@ElrodRealEstate.com

Ask me about my "No Hassle" listing program that gets property sold and money in your pocket!

Updated 3Bd/2Ba Home with Built-in Pool - $375,000

2005-12-20T17:19:00.000-08:00

Incredible opportunity with this updated home in Foothill Farms area of Sacramento. Wood laminate floors, updated tile in kitchen, remodeled bathrooms, built-in pool and more. This is a MUST SEE property that is sure to make an impression.

All the upgrades and an affordable price make this a property that won't be around that long. Perfect for the first time home buyer with plenty of space for the family and a back-yard that is meant for entertaining!

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Jason Elrod
Realtor, eAgent
Keller Williams Realty
(916) 412-2595
Jason@ElrodRealEstate.com

Ask me about my "No Hassle" listing program that gets property sold and money in your pocket!

Professional Agents Make their Client Money

2005-12-09T09:38:00.000-08:00

I was recently talking with a few FSBO (For Sale By Owner) property owners and a version of the following statement always seems to come up: "I can't afford to pay any agent fess or commissions because I want to maximize my profit from the sale of my house". I find that interesting mainly because, as an informed Realtor, I know the statistics surrounding property sales in my area pretty darn good. FSBO properties sell on an average of 15% LESS when the owner represents themselves. There are probably a few exceptions to this, but as the market begins to move towards the Buyers end of the spectrum, you can expect to see less and less interest in FSBO properties as more and better marketed properties get all the activity. A good agent will not only properly price a property, but will market it, negotiate on the Sellers behalf, and take care of all the details that go into make a property go from sitting to SOLD. It is an easy math problem to figure out that a full cooperating commission of 6% still nets the seller 7% more than selling on there own and removes all of the hassles.

Agents also have a link into the market and advertise all year long to get the base of Buyers needed to make the sale go quicker. Usually 25%-50% faster than FSBO represented properties. In the end, over 85% of FSBO properties are sold by Realtors and with a commission being paid. So my question is often: 'How important is it to you to sell your property for the most profit in the least amount of time?" If your answer is "Heck yeah that is important!", then call your favorite Realtor and get that property sold, because a good agent will make you money every time.

Jason Elrod
Realtor, eAgent
Keller Williams Realty
(916) 412-2595
Jason@ElrodRealEstate.com

Ask me about my "No Hassle" listing program that gets property sold and money in your pocket!

Motivated sellers and making the offer

2005-11-17T14:38:00.000-08:00

Hey all! I was speaking with some friends the other day about real estate (go figure) and we were talking about the topic of motivated sellers and how to make an offer to where everyone was happy with the deal. It got me to thinking about the various motivations for buying and selling any property.

Every seller has a different reason for selling and it is usually tied to why they bought in the first place. If it was for a primary residence, then they are most likely looking to move up or over to another primary residence. It it was a second or vacation home, they may be looking to upgrade to better location or construction for that use. Investments usually go to other investments or get cashed out for one of the previous purposes. With that in mind, the real goal of the negotiation is to find out the REAL reason they are selling. Seldom will you find money for money's sake as a reason. Money with really nothing more than a tool or a means to an end. It is the end goal that is what is truly desired and what you are looking to uncover. Once you have that goal, you can structure your offer around helping them reach their goals while getting you the best deal possible. That is the key to a win-win offer.

When you can match up your reasons for buying with the sellers reasons for selling, you have a much better chance of structuring an offer that is not only accepted, but welcomed with open arms.

Have a good one and keep your eyes open for that deal of a lifetime (because it only comes around about once a week). :)

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Jason Elrod
Realtor
Your Real Estate Consultant
Keller Williams Realty
(916) 412-2595
http://www.ElrodRealEstate.com

Immaculate 2 Acre Horse Property in Granite Bay - $799,000

2005-11-08T23:14:00.000-08:00

The best Horse Property in Granite Bay! These beautiful 2 acres come with a charming updated home. Solid oak floors throughout, dual pane windows, new tile roof, updated bathrooms and more! This is definitely a property to check out if you are looking for the one that has room to add and the property to make an impression.

Click here for the Virtual Tour!

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Jason Elrod
Your Real Estate Consultant
Mobile: (916) 412-2595
Office: (916) 580-2205
Fax: (916) 580-2206
Website: http://www.ElrodRealEstate.com

Downtown Duplex opportunity with Motivated Sellers! - $580,000

2005-11-07T20:33:00.000-08:00

It is the time of year for Motivated Sellers!

This is a large duplex in the Tower District of the Sacramento Land Park neighborhood. Each unit is a 1 bd / 1 ba with approx 975 sqft. Wood floors, fireplaces and a basement in each unit. Duplex has recently had a NEW ROOF put on and updated landscaping. With a strong rental history this could be a great investment and your chance to 1031 exchange up to a multi-family property. It would also make a great owner occupied home with you living on one side and the tenant on the other side subsidizing your mortgage!

Take advantage of this deal as the sellers are looking at all offers right not and are looking to close this before the end of the year.

Check out the virtual tour for more info or give me a call (or email) and I can send additional information and arrange a showing.

Don't wait because this will not last.

-Jason
916-412-2595

New month and time to Buy some Real Estate!

2005-11-03T16:33:00.000-08:00

November is upon us and the Real Estate market is showing it. Many properties stay on the market longer during the late Fall and Winter months and this year is no different. Interest rates are on the rise and many investors and buyers think that there is an upcoming correction so they are holding off purchasing.

That may or may not be a good idea.

Fact is this is the probably the BEST time of year to buy. Inventory is up and many Sellers think that if their property hasn't sold (or had multiple offers) within the first thirty days then something is wrong. They start to think that this is the beginning of the end and that the market is on its way to a crash. They want to get out before the 'bubble bursts'. Add to this, that their neighbors see that the property has been on the market a little longer than they were 6 months ago, and they start to think the same. Then they decide it is time to also place their property on the market before it is 'too late'. As such, there is more inventory, more competition and the Buyer has a LOT MORE LEVERAGE in negotiating. It happens every year around this time. Sort of an annual self-fufilling prophecy.

The market IS on its way to a correction, but my hallucination is that it will be far from the 'burst' or a crash that the doom and gloom naysayers would have you believe. If you have been thinking of making a move or are a first time Buyer, then you should really give it a look and feel the market out for those deals that just aren't around in the Spring and Summer months. To put it plainly, this is the time to 'buy low' so you can 'sell high' later.

A little bit of education (and the right Realtor) can help make your Real Estate experience both enjoyable AND profitable.

Have a good one and feel free to give me a call with any of your Real Estate questions!

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Jason Elrod
Your Real Estate Consultant

Mobile: (916) 412-2595
Office: (916) 580-2205
Fax: (916) 580-2206
Website: http://www.ElrodRealEstate.com

'“The best compliment anyone can give me is a referral of their family or friends. If you know a friend, family member or co-worker that has a Real Estate need, put them in touch with me and I will help them above and beyond expectation.' -Jason

We have a winner!

2005-10-24T19:23:00.000-07:00

Congratulation to Peter and Patty Lew for winning Octobers' drawing for a FREE 1 GB iPod Shuffle! Each month we have a drawing for people who have attended one of our open houses during that time period. Sometimes its a gift card, sometimes wine and this time it was an iPod.

November is just around the corner so stop on by one of our open houses and enter to win something great. The next drawing will occur on November 26th and you can enter (at no cost or obligation) by stopping by any open house held by myself (Jason Elrod) or someone on my team.

The next scheduled open houses are Saturday, October 29th in Granite Bay (6100 Cavitt Stallman Rd) and Sunday October 30th in Sacramento (1701 Burnett Way). 12-4pm both days.

Hope to see you there!

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Jason Elrod
Your Real Estate Consultant

Mobile: (916) 412-2595
Office: (916) 580-2205
Fax: (916) 580-2206
Website: http://www.ElrodRealEstate.com

'The best compliment anyone can give me is a referral of their family or friends. If you know a friend, family member or co-worker that has a Real Estate need, put them in touch with me and I will help them above and beyond expectation.' -Jason

Searching for a new home

2005-10-13T23:19:00.000-07:00

It is a quick post today as I am actually on vacation this week (once every couple of years it actually happens). As such, this is a quickie...

Every wonder why certain website have better Real Estate listing searches than others? Well it is because of the quality of the database behind them for the most part. Realtors subscribe to MLS systems and enter their data there for all the new listings. It is pretty much an invite only club with the main requirement being that you are a licensed agent. From there, the data is made available for download or search using various systems. The favorite one in use is a system known as IDX (Internet Data eXchange). Basically a provider will download all the latest information from the various MLS providers (usually once or more per day) and will update their database. Then, they provide a web template for their subscribers (mainly real estate agents) so their clients can search the property information databases directly from their sites. There are many IDX providers. Some are better than others. Some specialize in certain types of properties, and some just plain suck.

So make sure that the property search website you are using has the latest info and/or is specialized for the particular types of property you are interested in.

I use a couple on my web site. The main property search is actually a frontend to the MLS database itself and isn't really an IDX solution at all, but pretty much a direct link to the local MLS provider in my area (Sacramento, Placer and El Dorado counties). I also have one that shows just my listings, one that shows my company's listings and finally one that can be used to check just about any area in Northern California. Check them out at http://www.ElrodRealEstate.com and see what they each have to offer (click on Property Search at the top). Using the right search can make all the difference in the world.

Have a good one!

Jason Elrod
'Your Real Estate Consultant'
916-412-2595
Jason@ElrodRealEstate.com

Reverse Mortgages

2005-10-07T11:22:00.000-07:00

I had a question the other day about reverse mortgages and what they entailed. I asked one of the lenders I work with to send me something that described it and here is what he sent:

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What is a Reverse Mortgage?
A reverse mortgage is a unique loan that enables older homeowners (62+) to convert part of the equity in their homes into tax-free income without having to sell the home, give up title, or take on a new monthly mortgage payment.

The reverse mortgage is aptly named because the payment stream is Âreversed.Â Instead of making monthly payments to a lender, as with a regular mortgage, a lender makes payments to you.

Eligible property types include single-family homes, manufactured homes built after June 1976, qualified condominiums, and townhouses.

Enhancing your retirement years
The funds from a reverse mortgage can be used for anything: daily living expenses; home repairs or modifications; health care expenses, including prescription drugs or in-home care; pay-off of existing debts; lifestyle enhancement; prevention of foreclosure; and other needs.

There are no income or medical requirements to qualify. You may be eligible for a reverse mortgage even if you still owe money on a first or second mortgage.

What are my payment options?
You can choose how to receive the money from a reverse mortgage. The options are: all at once (lump sum); fixed monthly payments (for up to life); a line of credit; or a combination of these. The most popular option Â chosen by more than 60 percent of borrowers Â is the line of credit, which allows you to draw on the loan proceeds at any time.

The amount of money you get from a reverse mortgage depends on several factors, including: your age, type of reverse mortgage selected, appraised home value, current interest rates, and Â sometimes Â where you live. In general, the older you are and the more valuable your home (and the less you owe on your home), the more money you get.

The funds from a reverse mortgage are tax-free; it's your money, not additional income. A reverse mortgage does not affect regular Social Security or Medicare benefits. To assess the impact, if any, on other federal or state assistance or medical programs, you may wish to consult with your local Area Agency on Aging, 800-677-1116, a reverse mortgage lender, or a tax attorney.

Mandatory Counseling
Before applying for a reverse mortgage, you must first meet with a counselor. A list of approved counseling agencies nationwide is posted online by the U.S. Department of Housing and Urban Development. Or, you can schedule a counseling session with an AARP-approved telephone counselor, 1-800-209-8085.

The counselor's job is to educate you about reverse mortgages, to inform you of other alternative options available to you given your situation, and to assist you in determining which particular reverse mortgage product best fits your needs.

Paying Back Your Loan
No monthly payments are due on a reverse mortgage while it is outstanding. The loan is repaid when you cease to occupy your home as a principal residence, whether you (the last remaining spouse, in cases of couples) pass away, sell the home, or permanently move out.

The amount owed can never exceed the value of your home. Furthermore, if the home is sold and the sales proceeds exceed the amount owed on the reverse mortgage, the excess money goes to you or your estate.

Information provided by Jason Powell - Countrywide Financial. For more information about reverse mortgages or other loans you can contact Jason Powell at Jason_D_Powell@countrywide.com

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It is actually a very viable option for many people. Expect to see this trend increase as more and more people retire and move to what has been traditionally referred to as a 'fixed income' status. For many, it is the perfect way to supplement retirement income.

Have a good one and remember to give me a call or email me for all your real estate needs.

Jason Elrod
Your Real Estate Consultant
916-412-2595
Jason@ElrodRealEstate.com

Just another day in paradise...(not too much real estate in this post) :)

2005-10-06T22:58:00.000-07:00

Being on time is important. Very important. I read in a book, or heard it in a crowded room said that 'Early is on time. On time is late'. I liked the gist of that and strive to be early to the appointments that I set. If I cannot make it for some reason, I call. it is not only the professional thing to do, it is the courteous thing to do. As such, it is one of my pet peeves if someone is late. But sometimes, no matter how you plan, stuff happens and it just throws your whole schedule off. Take today for instance. I had one thing planned for today and I was late for it. Now you might ask 'How is it that someone who gets up on his soapbox and tells me that if I am on time I am late and that I have to be early to be on time, is late himself?' Well let me tell you, it takes some planning....

Monday afternoon: I schedule an appointment with my Broker for Thursday @ 3:00pm and confirm that it should be no problem as I have no other scheduled appointments after today.

Tuesday night (around 9:00pm on my way home from a client): Grab burrito from Del Taco and proceed to eat it with much vigor. I hear a crunch echo from within my head and a couple of teeth start to hurt. I figure 'not a big deal' and proceed to finish said burrito and make my way the rest of the way home.

Later Tuesday night (around 11:00pm): I decide that the nifty (now ever present) pain on the left side of my face is probably going to keep me awake if I try to go to sleep. Make promise to myself to call dentist in the morning then I make my way to the excedrine. I take 2 and decide that it would probably work better with a glass of Jack Daniels (I figure the warning on the bottle is more of a suggestion than a hard rule). My guess is right and I am feeling good when I finally hit the sack.

Wednesday morning: I get up and have no problem remembering to call the dentist. She says that I can come into the office in a couple of hours. I say great and make the phone calls I have to and send out all the emails and faxes that I need to for business. I then head on over to the dentist. She is glad to see me (especially after the exam) and says she will be seeing a lot of me in the near future and tells me I have to come back in 24 hours for a root canal. Seems that I should probably go to the dentist more than once every 4-5 years. As I leave the office I think I hear her say something about how it is going to be a good Christmas and I don't think she is referring to the weather. Oh well. I have gotten a little used to the throbbing pain now and decide that I will just go about my day.

Wednesday night: Decide to get lost in Lost and manage to get to sleep without the self-medication of the night before. I do answer one email from a client who wants to get together and talk tomorrow. Should be no problem so I tell them I will give them a call.

Thusday morning: Get up and have some coffee and notice that the pain is much less now but I still decide that the root canal is probably the best course of action. I give my client a call and let him know I can meet him later in the afternoon (note- this is the one I will mess up). I brush my teeth and head on into the dentist (like somehow brushing my teeth will make it better when I get there). Turns out that I have a high resistance to pain killers and it takes several extra doses of lidocane during the procedure to make me stop jumping out of the chair. While I am listening to the cool, breezy sound of the drill, I get a phone call telling me that several things didn't get done and I now need to run around town and get them done before a certain time or the world will end (or something like that). A few more minutes (60 OF THEM) and the procedure is done and they send me to the front desk to pay. I see the amount and know that I will have to sell another house just to pay for this. I write a check to the nice people and go along my way...

(Notice at this point in my story that I had no urgent calls or strangeness until I was actually having the root canal done. It is now 1:30pm)

...I run around town gathering all the stuff I need to save a contract, get it copied and notarized and paid for and over nighted and then just make it to my meeting with the broker. I tell her that I have to go meet a client and we cut our meeting short. I tear outta there and rush to meet the client I told the night before I could meet and finally get to talk to him... 15 minutes late. He is gracious about it, but I know that he is going to remember and there is nothing I can do about it. We chat for a while and he heads off for home and I do the same.

SO, even though I only had a couple of scheduled appointments for the WEEK, because of life happening (and tooth killing burritos), I was still late... and it sucked, but no one died. Setting and maintaining a standard for yourself is important and one should always strive to maintain that level. But sometimes things happen and when they do, you just have to ask for some more painkiller and move on to the next day. No use in beating yourself up about it, just make sure it is the exception to the norm and not the norm. :)

Thanks for listening to me rant.... I promise I will talk more about real estate next time.

-Jason

Welcome to The Home Search Place Blog

2005-09-24T12:51:00.000-07:00

Hey everyone! I wanted to get things started with a big greetings to The Home Search Place Blog. My name is Jason Elrod and I am a Realtor specializing in the Sacramento, Roseville, Granite Bay and El Dorado Hills areas of Northern California. I am also a property investor and long time computer geek. This blog is going to be for thoughts, questions and answers to Real Estate related topics. Whether you are a first time home buyer, looking to move up (or over) from your current property or a seasoned investor, my goal and the goal of my team is make sure you have all the support and expertise you need to make your transaction the best it can possibly be.

Basically, I want to be your Real Estate Consultant and I am willing to do what it takes to make that happen. :)

Have a good one and I am sure that this blog will not only provide you with some great information and insights to the Northern California Real Estate market, but also entertain you with some of the lighter side to the business of home and property sales and investment.

Respectfully,

Jason Elrod
Your Real Estate Consultant