An inexpensive way to start helping to save your environment, locally- buy CFL's "Compact Flourescent Light" Bulbs.  They use 75% less energy than incandescent bulbs, and last 6-10 times longer.  You'll save energy and mney and contribute to global climate change.  Prtoect the environment of today, and tomorrow-by changing a light! For any and all  Real Estate information you may need for the El Dorado Hills, or El Dorado County-choose to call your neighborhood specialist-Wendi-Mae Davis, CRS, GRI, Broker Associate Connect Realty, Real Estate counselor.  22 years of full time service to the Community Toll Free 866-333-6333 Personal website HTTP://www.wendimae.com or email her at wendimae@wendimae.com  She looks forward to the opportunity of assisting you in your quest! 11/21/2009

El Dorado Hills, CA REO (BANK OWNED) SALES DATA FOR OCTOBER 2009 This is a continuation of my monthly report on Bank Owned home sales for El Dorado Hills, CA.  This report covers REO homes sold in October of 2009, the latest in my study of over two years. There were 22 REO homes sold in October, up from 14 in September.  The average days-on-market jumped to 43, up from the record low of eleven days in September.  There were three homes that sold in October that had been on the market for 249, 127 and 108 days respectively, which had an effect on this statistic.   Of the REO homes sold, 31.9% were on the market for two weeks or less.      The 22 homes sold represent 40% of all homes sold in El Dorado Hills. Bank owned and Short Sales represent a majority of the home sales in today's mark... 11/20/2009

HOW TO AVOID FORECLOSURE Fannie Mae Deed-for-Lease Program Fannie Mae has come out with another option to help distressed home owners avoid foreclosure.  Any program that will help is worth looking at. The program guidelines are very specific and not everyone will qualify. It is a variation of the deed-in-lieu process, through which the homeowner/borrower gives the lien holder the deed to the property in lieu of foreclosure.  The lien holder becomes the owner of the property and the distressed homeowner who meets the guidelines remains in the home as a tenant. The borrower must have sufficient income to qualify to pay the market rent for the property.  The cap is 31% of the borrower(s) gross income.  So a family with a $ 2000 per month gross income can only qualify for a $ 620 monthly r... 11/19/2009

OVER 55? CALIFORNIA PROPERTY TAX RELIEF Since its passage, Proposition 13 prohibits property tax increases until property ownership is changed. If either spouse is over age 55 (when the old home is sold), PROP 60 allows replacement of a primary residence with a new home of equal or lesser value (but see below) within the same county and transfer of the Prop 13 assessed valuation from the old home to the new property.  This is allowed once in your lifetime, and a spouse who has done it before 'taints' both spouses. PROP 90 allows counties to elect to accept transfers of Prop 13 values for moves from other counties when a primary residence is replaced with a less expensive (but see below) home. If you are over 55 and move into a county which accepts Prop 90, you may take your old, lower P... 11/19/2009

Where to go for an excellent dining experience in El Dorado Hills?  Maybe with some entertainment included?  The Bistro 33 is one place to choose.  One resource for choosing a Dining experience of your choice, is the Monthly "Style" Magazine which can be found in many store fronts, or at almost any Merchant in the City.  The restaurant of the month, in their November issue, is the Thai Ginger and Satay Bar-currently in Folsom, and coming to El Dorado Hills soon-even in these tough economic times-quality restaurants continue to spring up all over town.  If you are looking for Thai-this place is it-my favorite is the Spicy Beef Pad Kee Mao-WOW!!!   For any and all information you could possibly want, check in with your neighborhood specialist-Wendi-Mae Davis, Broker Associate with Connect... 11/19/2009

Short Sale or Foreclosure: Which is the Better Option? Losing your home to bank foreclosure, resulting from your inability to make your monthly mortgage payment(s) is one of life's most challenging experiences.  Foreclosure is also an event that will impact your credit score for years to come.  Foreclosures often result from the unexpected: a major accident, serious illness, death of co-owner, divorce, job loss, or more and more often as the result of a resetting interest only or adjustable rate mortgage.  If you are facing any of the above it is better to understand your options and take action, rather than standing idly bye and waiting for the foreclosure to take place. Foreclosure is the worst of your available options As most people know, the result of a foreclosure is the bank will... 11/13/2009

Your neighborhood specialist just found a great site to download coupons for you favorite local Shopping and dining spots.  Got to: HTTP://www.2clickstosave.com You will find coupons for: Food, drink, Home, Garden, Pets, Medical, Dental, Legal, Personal Care, Health, Recreation, Kids, Retail Shopping, automotive-and more! No sign-ups, No gimmicks...Just savings! For anything and everything you need in El Dorado Hills, and El Dorado County-call your neighborhood resident, Realtor specialist!  Wendi-Mae Davis, CRS, GRI, Broker Associate for Connect Realty-AND! Your residential Real Estate Counselor Toll Free 866-333-6333 or check her out through her personal website:  HTTP://www.wendimae.com also, you may choose to email her at wendimae@wendimae.com   11/08/2009

El Dorado Hills has 311 active listings. Of the active listings there are 45 short sales and 16 bank owned properties for sale.  Home prices range from $259,000 for a 3 bed/2 bath to a newer 6900 sq ft home in Serrano priced at $2,995,000.  There are 80 homes for sale priced under $400,000 and 46 homes priced over $1,000,000 indicating both affordable and luxury living is available in El Dorado Hills.  There are 82 pending sales with average days on the market of 63. There are 125 sold listings in the last 3 months with average days on the market of 66. Average list price to sale price has increased to 98.6% indicating buyers are aware of the bargains in this area.   11/08/2009

More good news for consumers, and the housing market recovery!  Following the Senate's favorable vote yesterday, the U.S. House of Representatives just voted 403 to 12 to extend the home buyer tax credit, expanding the parameters to include existing homeowners and not just first-time buyers. President Obama to sign the legislation in short order.As it now stands, the federal tax credit will be extended through April 30, 2010, with a 60-day extension if a binding contract is in place prior to the deadline. First-time home buyers will continue to be eligible for a tax credit of up to $8,000, while existing homeowners will be eligible for a reduced credit of up to $6,500. To qualify for the $6,500 credit, existing homeowners must have lived in their current residences for at least five yea... 11/05/2009

Should I lock in now, or should I wait? Hard question to answer, as the maret fluctuates every day.  Rates are at an all time historic level right now.  You will benefit just by being in the market today!1. Wall Street has had zero money to lend for over a year, as investors & countries have zero appetite or tolerance to invest money into securitized mortgage notes that continues to have high default rates or declining value2. It was the US government that was printing new US dollars and giving it to Fannie Mae, Freddie Mac and FHA so the market has money to lend 3. Banks are ONLY able to lend to you if they can sell your loan to Fannie Mae, Freddie Mac and FHA and then replenish their up front cash 4. Banks that have taken TARP funds signifies they previously had no liquid funds to len... 11/04/2009

The Wizard of Oz is in El Dorado Hills!  Local talent takes the stage!  and, I know Dorothy!  This is a production-not to be missed! The EL Dorado Musical Theatre is putting on a Special Performance this November 6-22.  the "Youth Theatre at it's Best!" With Special appearances by the original movie Munchkins, Jerry Maren and Margaret Pellegrini!  Call for tickets today 916-941-SING (7464) or visit HTTP://www.edmt.info They are also located at: 1655 Iron Point Road, Folsom.  $20. general Admission, $16. for Students, children, and seniors.  Group discounts are available!  For more information on what is happening in town-call Wendi-Mae, your Neighborhood Specialist in El Dorado Hills, Cameron Park and beyond...Wendi-Mae can be reached at Toll Free 866-333-6333 or by email wendimae@wendi... 11/04/2009

If you are a first-time home buyer, looking to purchase in El Dorado Hills, CA and get the $8,000 Federal Tax Credit currently being offered, time is running out! Barring an extension by Congress, you now have 40 days left to close escrow on your purchase or you will miss out on the tax credit which expires on 11/30/09.  If you still want to a shot at the free money, move quickly! See my last blog posting on this topic: ORIGINALLY POSTED in September:  In an effort to off-set last year's fincial meltdown and the ensuing recession, the current administration created a tax credit of up to $8,000 for certain first-time home buyers in the $787 billion Economic Stimulus Package that was passed in February, 2009.  Through this program, you are eligible to receive an $8,000 tax credit when you... 10/23/2009

The Lowest Interest Rate Isn't Always the Best Deal   As a El Dorado Hills mortgage broker, I am sometimes asked by clients, “What is your rate?” Little do they know that I have scores of different rates offered by more than 50 lenders!  Interest rates are a very interesting subject to most people when financing a home.   Everybody seems to want the “best rate”. When I hear that, I sometimes ask, “What is more important to you a lower cost loan or a lower interest rate loan?” Many buyers are solely focused on interest rates without considering the closing costs and actually having enough cash to close.   An interest rate comes with a corresponding cost or credit.  A lower interest rate will cost more than a higher interest rate.  Let’s take a $200,000 loan amount, for example, and compa... 10/21/2009

El Dorado Hills, CA REO (BANK OWNED) SALES DATA FOR SEPTEMBER 2009 This is a continuation of my monthly report on Bank Owned home sales for El Dorado Hills, CA.  This report covers REO homes sold in September of 2009, the latest in my study of over two years. There were 14 REO homes sold in September, four more than sold in August.  The average days-on-market dropped drastically to eleven, down from 36 days in August.  REO homes are selling like hot cakes.  Of the REO homes sold, 35.8% were on the market for less than two weeks.  The longest one on the market was 23 days.    The 14 homes sold represent 34.2% of all homes sold in El Dorado Hills, up from 26.4 in August.  The cost per square foot of REO homes in June increased to $ 158, up from $ 144 in August.  The cost per square foot o... 10/20/2009

This is a situation that is unfolding at the present time.  I am passing it on so that others do not fall prey to the stupidity. I listed a home as a short sale after the lien holder had recorded the Notice of Default and Notice of Trustee Sale.  The seller had already made an unsuccessful attempted to obtain a loan modification with Wells Fargo. Time was short, so I priced the home aggressively at $ 340,000.  There was a flurry of activity and we had six offers in the first week, including offers over $ 400,000.  I submitted the highest netting offer to Wells Fargo and they sent an appraiser to do the BPO.  The appraiser told me that it would take a week to get the BPO into the lien holder.  At that point we were firing on all eight cylinders. Two days after the BPO got to Wells Fargo ... 10/17/2009

When you were looking for your current home, you had two lists in your head: a list of needs and a list of wants.  In all liklihood, windows weren't on either list because you assume that every house has them.  Windows, like doors, are a given.  Or are they?  Some describe windows as a luxury.  While a door is essential in even the most primitive house, "windows are a refinement, an amenity that makes a place more livable."  Through the centuries, windows have grown in size and improved in technology, but the problem of energy loss has gotten more complex.  The heat lost in residential and commercial blds. in 1990 cost the U.S. $20 Billion alone.  If you have old frame, aluminum framed, single paned windows, or even double paned windows with leaky seals, your home is part of that statis... 10/16/2009

You Choose the Title and Escrow Provider for Your El Dorado Hills Mortgage   In 2009, the Governator signed AB 957, also called the “The Buyer’s Choice Act.”   With that signature, buyers of residential, 1-4 unit foreclosed properties in California could select their own title and escrow companies.  Previously, banks and their representatives required REO property buyers to use a particular title or escrow company.  Some even went so far as to not entertain offers from buyers who requested to use a different title and escrow company.  If you think this sounds unethical, unfair and detrimental to competition, you’re right!  The consumer deserves the right to select local service providers that charge less and provide better customer service.   As a El Dorado Hills mortgage broker, I have... 10/13/2009

There is so much to know when getting the information you need for installing Solar panels for your homes' energy system.  Your qualified PV (Photovotaic Solar electric system) provider should be able to guide you through the process.  Until you get there...you might want to check out a few other sources-for getting answers to all your questions, up front. THe California Energy Commission 800 555 7794 HTTP://www.consumerenergycenter.org California Public Utilities Commission 415 703 2782 HTTP://www.cpuc.ca.gov California Solar Energy Industries Association 949 709 8043 HTTP://www.calseia.org Northern California Solar energy Association 520 869 2759 HTTP://www.norcalsolar.org PG & E 800743 5000 HTTP://www.pge.com check out my other blogs n energy conservation, and being green! at: HTTP:/... 10/08/2009

FHA Loan Volume is Soaring:  In 2007, the number of government-backed FHA loans issued in the Sacramento Region was 649.  In 2008, this number soared to 8,998 loans.  In 2009, this number will increase again.  With this in mind, I looked back at all of the transactions I have been involved in, in 2009, and found 67% of the buyers used FHA loans. FHA loans are primarily used by people who can't afford a big down payment, or have credit score issues.  FHA buyers are only required to make a down payment equal to 3.50% of the purchase price, and can receive credits/gifts from the seller to assist with paying part or all of their closing costs.  With the credit market shot, most conventional loans now require at least 10 percent down.  FHA Loans are Making a Difference: In light of the housi... 10/07/2009

Energy Efficiency and Renewable Energy can put your hard earned dollars, back in your pocket.   PhotoVoltaics: Basic Design Principles and components   If you are thinking of generating your own electricity, you should consider a PhotoVoltaic (PV) system-a way to genereate electricity by using evergy from the sun.  These systems have several advantages:They are cost-effective alternatives in areas where extending a utility power line is very expensive;they have no moving parts and require little maintenance;and they produce electricity without polluting the environment.   A couple of nearby solar panel companies are Sacramento Solar Panels HTTP://www.recsolar.com and Evergreen Solar-made in the USA25 year Warranty-36 yers in Solar   HTTP://www.suneiec.com Hundreds of cost-effective appl... 10/04/2009