Category Archives: Family

I am new to Elk Grove; “What stores do you have?”

When I first moved to the Elk Grove area, I had already been living in the Sacramento area since 1973, and Elk Grove was little more than a wide spot in the road. In those days, you drove up to Florin Road the the Florin Mall to shop, or you went to the Sunrise Mall.

Things have changed in Elk Grove over the years.  Although some people still drive to those locations or the Downtown Sacramento Mall or even the Roseville Galleria if the want to shop at a Nordstrom’s or a Macy’s, but the shopping opportunities have grown over the years in our small town.

We now have two Target stores, two Kohl’s and two Walmarts. We also have a Costco, a Sam’s Club close by. We have Best Buy, Hobby Lobby, Old Navy, TJ Maxx, Ross Dress for Less, Burlington Coat Factory, DSW shoes and soon we will have a Steinmart.  

In fact, we have over 50 shopping areas in Elk Grove. We have the Elk Grove Marketplace, also called the 99 Marketplace by some folks. We have Laguna Gateway and Laguna Crossroads, and College Square, etc… We even have an unfinished mall, the Elk Grove Promanade, on the south side of town. It was started just about the time the real estate market crashed throughout the US and it is still waiting for an improving economy for a builder to move forward with the construction.

But, with over 50 shopping areas, how does one find their favorite stores? You log onto your favorite browser and go to www.ShoppingInElkGrove.com, of course. You will be able to find almost every store in Elk Grove. It is still a work in progress, and with the speed at which stores open and close, it will obviously be a continual work in progress.

So far, on the main page is a list of several major categories of stores with a list of stores within those categories. Click on the store name and you will jump to the shopping center where that store is located and you will be able to see which other stores are there so that you can combine multiple shopping stops into one stop. The long term goal is to provide a logo and a link to the individual store’s website in the future. If you click on the Elk Grove Auto Mall link, you will see what I have planned for the future.

You can also look at the yellow menu bar near the top of the page and click on the “Auto” link and find all of the automobile related stores on a map with links to each store. In that same menu bar you will find a link for “Shopping Centers” and you will find a map of the greater Elk Grove area with a spot marked for almost every shopping center in our city. Click on a spot or one of the letters that are identified in the ledgend at the top left side of the page to go to that shopping center’s page to see what other stores are in that shopping center.

I will be adding links for Fast Food, Family Dining, Fine Dining, Grocery Stores, Nail Salons, etc…  In the near future I will also be adding a series of links for services such as Senior Facilities, Medical Facilities, Storage Facilities, Postal/Mailing/Shipping Facilities, etc…

If you have not already looked at my online Relocation Guide, called Living In Elk Grove, you will find that they are linked so that you will have access to lots of information about our wonderful city.

In fact, one of my favorite pages on my Living In Elk Grove website is the Activities Link. You can bring up a list of Food Fairs, County Fairs and other fun events in the greater Elk Grove area. You can also click on the button for the individual month on the right side of the page to see what is happening this month.

Take a look, and let me know what you think. You will find an email button on almost every page that will give you the opportunity to let me now about missing stores or about closed stores so that I can keep the online info current for you and the other users.

Start building your memories,
as you turn your house into a home. 

As you might guess, this document is a compilation of information from our own efforts as REALTORS, as well as input from other REALTORS in our Coldwell Banker office.  I hope it has been of value to you.  Don’t hesitate to email us with any suggestions that will make this document better for you and your fellow homeowners!

Be sure to follow us on Facebook at www.Facebook.com/ElkGroveRealEstate.  For information about properties available for sale and for more information for buyers and sellers, please visit our website at www.ElkGroveRealEstate.com and don’t hesitate to give us a call or drop us an email with your questions.

WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete blurb with it: Jack Edwards, your real estate advocate, specializes in helping buyers and sellers in Elk Grove, CA,  and the greater Sacramento area.   Get information about available homes online at:  www.ElkGroveRealEstate.comOur mobile clients can find us at Mobile.ElkGroveRealEstate.com  BRE License # 01331087

 

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That was then – this is now:

Rebound in Housing Market May Mean A Tremendous Opportunity for Home Sellers

RC-logo (1)

 

As 2013 gets underway, Northern California’s housing market is poised to continue the steady recovery that began last year. Home sales and the median sale price rose in most of our markets last year, and industry economists expect more improvement this year. Foreclosures and short sales continue to decline.

The only problem seems to be that many potential sellers don’t realize that things have changed so dramatically since the downturn of the housing market, and they’re missing out on a tremendous opportunity.

There’s a severe shortage of homes for sale in many areas, which means that homeowners savvy enough to list their home right now are often getting multiple offers – and sometimes at prices we haven’t seen in several years!

Available inventory of homes for sale in much of our region is down 50 percent or more just in the past year. Right now, there are more eager buyers out there than homes on the market to meet their demand.

With an imbalance between supply and demand, homebuyers have been fiercely competing with each other, and that’s great news for sellers.

The California Association of Realtors announced in its November 1, 2012 report that 57 percent of home sales in California received multiple offers, the highest percentage of multiple offers in at least the past 12 years, with each home receiving an average of 4.2 offers, which was up from 3.5 offers in 2011.

This seller’s market is rapidly driving up prices. The median price of all homes sold in Sacramento County, for example, rose by 18 percent in December compared with the same month a year before, according to a study for the Sacramento Bee by DataQuick, the La Jolla-based information services company. According to DataQuick the price appreciation was even sharper in the Bay Area, which saw the median price in December spike by 32 percent.

 

California Association of Realtors
Unsold inventory index for existing single-family homes (in months)

inventory

Source: California Association of Realtors

The same trends that we are seeing here in Northern California are occurring in markets across the country, according to the National Association of Realtors.

Home sales nationwide rose to a seasonally adjusted annual rate of 5.04 million in November, the highest level since November 2009, when the annual pace spiked at 5.44 million, NAR reported.

“Momentum continues to build in the housing market from growing jobs and a bursting out of household formation,” said Lawrence Yun,  NAR’s chief economist. “With lower rental vacancy rates and rising rents, combined with still historically favorable affordability conditions,  more people are buying homes.”

Yun said healthy market demand and shortage of listings is driving up prices once again. “A diminishing share of foreclosed property sales is helping home values,” he noted. “Moreover, an acute shortage of inventory in certain markets is leading to multiple biddings and escalating price conditions.”

Total housing inventory at the end of November nationwide fell 3.8 percent to 2.03 million existing homes available for sale, which represents a 4.8-month supply at the current sales pace. It was down from 5.3 months in October and is the lowest housing supply since September of 2005 when it was 4.6 months,  NAR reported.

Listed inventory is 22.5 percent below a year ago when there was a 7.1-month supply. Raw unsold inventory is now at the lowest level since December 2001 when there were 1.89 million homes on the market, NAR said.

Compared with a year ago, home listings are down in every price category in each of the nation’s 30 largest housing markets, according to a study by real estate website Zillow.

The tight inventory conditions won’t last forever, of course. In an interview with USA Today, Zillow economist Stan Humphries said tight inventories will push up prices, encouraging more people to list homes.

So where does this all leave you? If you’ve been putting off selling your home, you may want to seriously consider getting back into the market now.  As the new year gets under way, the pendulum has swung back into a seller’s market. But there’s no guarantee how long that will last.

Buyers are out there looking, prices are climbing once again and there just aren’t enough good home listings to go around. With such strong buyer demand and a shortage of listings, this may be the best time to sell your home. I’m ready to help you get started today!

Start building your memories,
as you turn your house into a home. 

As you might guess, this document is a compilation of information from our own efforts as REALTORS, as well as input from other REALTORS in our Coldwell Banker office.  I hope it has been of value to you.  Don’t hesitate to email us with any suggestions that will make this document better for you and your fellow homeowners!

Be sure to follow us on Facebook at www.Facebook.com/ElkGroveRealEstate.  For information about properties available for sale and for more information for buyers and sellers, please visit our website at www.ElkGroveRealEstate.com and don’t hesitate to give us a call or drop us an email with your questions.

WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete blurb with it: Jack & Tracey Edwards, your real estate advocates, specialize in helping buyers and sellers in Elk Grove, CA,  and the greater Sacramento area.   Get information about available homes online at:  www.ElkGroveRealEstate.comOur mobile clients can find us at Mobile.ElkGroveRealEstate.com

 

One Cool Thing – 6 Tax Facts That Home Sellers Should Know


Start building your memories,
as you turn your house into a home. 

As you might guess, this document is a compilation of information from our own efforts as REALTORS, as well as input from other REALTORS in our Coldwell Banker office.  I hope it has been of value to you.  Don’t hesitate to email us with any suggestions that will make this document better for you and your fellow homeowners!

Be sure to follow us on Facebook at www.Facebook.com/ElkGroveRealEstate.  For information about properties available for sale and for more information for buyers and sellers, please visit our website at www.ElkGroveRealEstate.com and don’t hesitate to give us a call or drop us an email with your questions.

WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete blurb with it: Jack & Tracey Edwards, your real estate advocates, specialize in helping buyers and sellers in Elk Grove, CA,  and the greater Sacramento area.   Get information about available homes online at:  www.ElkGroveRealEstate.comOur mobile clients can find us at Mobile.ElkGroveRealEstate.com

 

Children Are The Biggest Benefactors of Home Ownership

Research Institute For Housing America:

Special Report    

 

“Children are the biggest benefactors of home ownership”.

 

Richard K. Green and Gary D. Painter (USC), Michelle J. White ( University of San Diego)

Key findings from the study include:

a) The size of the down payment has little effect on the outcomes for children, except when borrowers put no money down, at which point the outcomes become indistinguishable from those for renters.

b) The impact of homeownership is particularly important for households with short lengths of tenure. Some had suggested that prior findings regarding the benefits of homeownership were simply due to a more stable housing situation, not necessarily ownership. These findings indicate that homeownership matters, particularly over the short term.

c) Parents’ marital status, income, race or age of the mother when the child was born had little effect on outcomes, after controlling for parental education, homeownership and other household characteristics.

“In a study conducted over 15 years, we found that children of homeowners fared better than children of renters.

The study was based on an analysis of the Panel Study of Income Dynamics (PSID) and was sponsored by the Research Institute for Housing America (RIHA) , the independent research foundation of the Mortgage Bankers Association (MBA).

Start building your memories,
as you turn your house into a home. 

As you might guess, this document is a compilation of information from our own efforts as REALTORS, as well as input from other REALTORS in our Coldwell Banker office.  I hope it has been of value to you.  Don’t hesitate to email us with any suggestions that will make this document better for you and your fellow homeowners!
You can also find us on Facebook at www.Facebook.com/ElkGroveRealEstate.  For information about properties available for sale and for more information for buyers and sellers, please visit our website at www.ElkGroveRealEstate.com and don’t hesitate to give us a call or drop us an email with your questions.

WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete blurb with it: Jack & Tracey Edwards, your real estate advocates, specialize in helping buyers and sellers in Elk Grove, CA,  and the greater Sacramento area.   Get information about available homes online at:  www.ElkGroveRealEstate.com  Our mobile clients can find us at Mobile.ElkGroveRealEstate.com

 

Property Taxes Reassessed Upon Change of Ownership

This information was provided by my first choice in escrow, Cornerstone Title Company.

Since, based upon the title of this article, you now know that the county assessor will do a reassessment of your property when you change ownership, lets first look at some of the various forms of ownership.  Remember, I am a real estate agent with Coldwell Banker Residential Brokerage, not an attorney and I am not giving advise on how to hold title to real property.

Joint Tenancy
Under this method of holding title, each owner holds the property jointly with the other owners. Upon the death of one owner(s), the property passes to the surviving joint tenant(s). For assessment purposes, the termination of joint tenancy (other than husband/wife or parent/child transfers) causes a reappraisal.

Tenancy in Common
Under this method of co-ownership, each owner owns a specific percentage of the property. At death, a tenant in common passes their interest in the property at their discretion. The transfer of a tenancy in common interest will cause a reappraisal, unless it is a husband/wife or parent/child transfer, but only for the percentage of interest in the property that has been transferred.

Legal Entities (Partnerships & Corporations)
Under this method, a reassessment occurs when there is a change in the controlling interest of the corporation or partnership. A controlling interest is defined as an interest greater than 50%. These changes in ownership are monitored and reported by the State Board of Equalization.

Death of Real Property Owner
Death is considered a change of ownership and the property can be reassessed as of the date of death for property tax purposes, unless the property is held in a Trust.

Trusts
In this method of holding title, there is only a reassessment if there has been a change of beneficial interest or control. For example, revocable trusts (i.e. living trusts) are not subject to reappraisal. Irrevocable trusts are reappraisable if the recipient or beneficiary is not the current owner.

Methods of Holding Title
A change in the method of holding title in itself does not cause a reappraisal. For example, if two equal partners incorporate, and each owns 50% of the corporate stock, no appraisal is required. In this case, the proportional ownership has not changed, only the method of holding title.
If you are interested in knowing how title is held on a particular property, please call your CornerStone Title Company’s Sales Representative.

Summary
Under Proposition 13, a reassessment takes place upon a change of ownership or transfer of title. It is always best to review any proposed ownership change with the Assessor’s office in advance to determine any possible property tax consequences.

NOTE: For transfers that are not required to be reappraised, taxpayers should have their escrow and or title company note on the document the appropriate exemption recital, i.e. parent to child. This information may also be included on the Preliminary Change of Ownership Report (PCOR) which is filed with the deed. After the deed is recorded with the County Recorder, a Change of Ownership Statement (COS) form is mailed to the new owners within 30 days. It should be returned immediately or there may be a fine assessed by the county.

Start building your memories,
as you turn your house into a home. 

As you might guess, this document is a compilation of information from our own efforts as REALTORS, as well as input from other REALTORS in our Coldwell Banker office.  I hope it has been of value to you.  Don’t hesitate to email us with any suggestions that will make this document better for you and your fellow homeowners!
Be sure to follow us on Facebook at www.Facebook.com/ElkGroveRealEstate.  For information about properties available for sale and for more information for buyers and sellers, please visit our website at www.ElkGroveRealEstate.com and don’t hesitate to give us a call or drop us an email with your questions.

WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete blurb with it: Jack & Tracey Edwards, your real estate advocates, specialize in helping buyers and sellers in Elk Grove, CA,  and the greater Sacramento area.   Get information about available homes online at:  www.ElkGroveRealEstate.comOur mobile clients can find us at Mobile.ElkGroveRealEstate.com