New Downtown Zip Code...

Looks like part of 95814 is getting a new zip code as of July 1~

There was a time when Mark Gonzales was a 95822 man. It's the ZIP code he grew up with in Land Park, and the postal route that still rolls most easily off his tongue. But nothing lasts forever. When the 41-year-old moved to 11th and S streets, he had to adjust to his new and exciting life as a bearer of the 95814 standard. And now, his world will change again, when on July 1 the U.S. Postal Service debuts Sacramento's newest ZIP code, 95811.

"95811, 95811," Gonzales muttered, giving the new addendum a try. "Well, it's kind of easier to remember."

It's been longer than he can recall since midtown has been the recipient of a new ZIP code, said Augustine Ruiz, spokesman for the USPS Sacramento district. But with the area seeing so much growth and mail carriers and post offices attending to that much more mail, it was time, he said, for a fresh five digits. The new code will incorporate the developing downtown railyard and Richards Boulevard areas, as well as a band a few blocks wide on downtown's southern and western flanks. It's a change that Ruiz says will allow for better service, but one that some customers found a bit odd.

Most ZIP codes comprise large chunks of a city, but from the looks of it, 95811 has got 95814 in a heck of a half nelson, leading some customers to wonder if the post office wasn't making room for future railyard development. "I thought it was goofy," said Bill Senecal, manager of Beer's Books, which will be affected by the change. "It's like a gerrymandering effect." That's not the case, says Ruiz, adding that the post office keeps track of growth but stops short of predicting it.

"It has nothing to do with real estate issues," he said. "It has everything to do with efficient mail service." Postal customers will have a year to make the change before they run the risk of returned mail. For residential customers like Gonzales, it's no big deal. But for businesses forced to change two digits on everything from business cards and envelopes to mailing lists and letterheads, it's not nearly as simple.

Anne Marie Kramer, owner of Zuda Yoga on 19th and O streets, just had about $2,000 worth of fliers and other material printed up for her new business. And just two weeks after opening her doors, she's going to have to change them all. She sighs. Resigns herself to the inevitable.

"I could react to it," she said. "But it's not going to change what's going on." Business owners frequently complain about the hassles of address overhauls, said Kathy Adams, accounting supervisor of Sutter Printing Co., and she's seen the expense that can arise. And though Adams sympathizes with the situation, there's something about this particular dilemma that doesn't have her reaching for the tissues.

"It's a pain, it really is," she said. "I hope they come to us."

Link:
http://www.sacbee.com/city/story/223780.html

Average Length of Time on the Market...

Sellers especially are always asking me what the average length of time a home will sit on the market is...well here is the answer for all of Sacramento County according to Trendgraphix. Keep in mind, these stats are averages, and your home's DOM (days on market) will vary due to many factors like how well it has been priced, the price range the home is in, the neighborhood, etc. You can click on the graph to enlarge it...

Link:

http://www.trendgraphix.com/

916HomeValues.com

Hello all. I really appreciate all of your email requesting market evaluation of your home(s). Having said that however, it seems that no matter how much detail ya'll include in your requests, some vital piece of information is missing. I have a website where you can fill out an online questionnaire to describe your home that includes all the pertinent information I need to do a complete analysis - http://www.916homevalues.com/.

Because I get so many requests for evaluations, if ya'll would use this website for your inquiries, it would help me a great deal. This way I will not have to send you follow-up emails requesting more information...You would be surprised how many requests I get that do not include info like the property address!...city/zip...number of bedrooms...blah blah blah...

Anyway...you can use that site too if you would like to register to have listings emailed to you...

Thanks!!

New Listing - 5616 Greenbrae Road, Sacramento / South Land Park Terrace 95822

This wonderful South Land Park Terrace home has been impeccably maintained. It has 3 Bedrooms and 1.5 Bathrooms, 1871 square feet per assessor, a large .21ac corner lot, covered patio area, a separate living room and family room (each with its own fireplace), an updated kitchen with tile counters, spacious bedrooms, hardwood flooring, berber carpet, newer composition roof, central heat & air, 2-car attached garage, and more!

For more photos and detail visit:

http://listings.golyon.com/content/PropertyBrochure.asp?listingNumber=70064175&agentNumber=SATTARDI

Sale is subject to lender approval - please contact me for details at erin@erinattardi.com or 916-342-1372.

No Changes to Sacramento Skyline Just yet...

CalPERS buys Saca out of Towers

The California Public Employees' Retirement System has acquired the Towers on Capitol Mall project, the pension fund announced Tuesday. It has reached an agreement with its former partner, developer John Saca, to buy his interest in the project.
Saca notified the pension fund that he did not intend to exercise an option to purchase CalPERS interest in the stalled Towers project.

Just what will be built at the site isn't clear. CalPERS is partnering with its national development partner, CIM Group Inc. of Los Angeles, to develop the site and a plan will be developed over the next 18 months. CIM will first work to resolve outstanding debt, CalPERS spokesman Brad Pacheco said.

Link:
http://www.bizjournals.com/sacramento/stories/2007/06/11/daily15.html?f=et76&hbx=e_du
http://www.sactowers.com/

Housing Bounces Back: Here are the Signs

Several factors suggest that housing is looking better, after a year when a slump has had a hold on not only housing but also economic growth in general.Here are some of the signs that things are starting to look up:

-Sales of new homes soared 16.2 percent in April, the largest monthly gain in 14 years, reaching an annual rate of 981,000.
-Total single-family sales — both new and existing — during the first four months of the year have averaged 5.5 million, about the same pace as in the final four months of last year.
-Through May 25, the four-week average of applications for new mortgages was at its highest level since early 2006, according to data from the Mortgage Bankers Association.

To put the decline into perspective, nationwide home prices are up 29.2 percent over the past three years and 64.3 percent over the past five years. That should be enough to comfort consumers who might be worried about the value of their homes, say Business Week Magazine analysts.

Source: Business Week, James C. Cooper (06/11/07)

Link:
http://www.realtor.org/rmodaily.nsf/f3c66d0c6457c1e1862570af000cb13b/5b1e7cab0400b837862572f4004c9595?OpenDocument

Ask Erin: Mortgage Fraud...

Ok - so I have to admit...no one really asked me specifically about Mortgage Fraud. Having said that, I get approached by people all the time who have been promised shady things by loan officers, other real estate professionals, get-rich-quick property flipping seminars, and lord only know who else, and they want me to "help" them.

People - I hate to be the one to break this to ya'll, but scams like cash back at the close of escrow, taking excessive credits, falsifying your income, forging documents, having your mentally incompetent grandmother co-sign your loan, etc. are not kosher!

I would be happy to share with you the correct way to transact real estate, and re-align your expectations if you have been misinformed. But please do not ask me to do anything illegal....you are asking the wrong agent! I happen to be very fond of my real estate license!!

Links:
http://www.mortgagefraudblog.com/
http://www.fbi.gov/publications/financial/fcs_report052005/fcs_report052005.htm#d1

Interest Rates...

...are going up!! Lock in your rate now!! They are still really low if you look at the historical range of interest rates...if you bought a house in the 1980's you could expect an interest rate in the 17-18% range!! Yikes!!

Link:

Copyright © 2007 Mortgage-X.com

Source: www.mortgage-x.com

Reprinted with permission