El Dorado Hills, CA Real Estate News

By Mike West, El Dorado Hills, CA CDPE, CNE, Licensed Loan Origi
(Heritage Oak Properties)
Every once in a while some regulatory or professional organization  does something right.  It is frequently too little too late, but it is at least a small step in the right direction, hardly a giant leap for mankind. The California State Bar has announced the recent launch of several investigations against attorneys for misconduct related to loan modification services.  This time their process was done right in that they are actually publishing the names of the unusual suspects to protect the public!  The California Bar Association reports that these attorneys have “allegedly taken fees for promised services, but failed to perform those services or even communicate with their clients who face the possible loss of their homes.  Their non-attorney staff may also be under investigation fo...
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By Aaron Cullen, Folsom, El Dorado Hills & Sacramento Real Estate &
(Brokers Inc. Residential Real estate)
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 purchase a principal residence if you have an adjusted gross income of $75,000 or less (or $150,000 for married couples), you have not owned a home during the three years leading up to the purchase, and, you close escrow on your purchase prior to November 30, 2009. Translation: Under the current First-Time Home Buyer Tax Credit program, if you would like the opportunity to get an $8,000 gift from the Federal Government, you have 71 days left to get pre...
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By Anna Boyd, CDPE, El Dorado Sacramento
(Re/Max Gold)
El Dorado Hills has 345 active listings. Of the active listings there are 57 short sales and 21 bank owned properties for sale.  Home prices range from $199,900 for a 3 bed/2 bath to a newer 6900 sq ft home in Serrano priced at $2,995,000.  There are 75 homes for sale priced under $400,000 and 54 homes priced over $1,000,000 indicating both affordable and luxury living is available in El Dorado Hills.  There are 75 pending sales with average days on the market of 56. There are 158 sold listings in the last 3 months with average days on the market of 62. Average list price to sale price is stable at 97%.  
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By Aaron Cullen, Folsom, El Dorado Hills & Sacramento Real Estate &
(Brokers Inc. Residential Real estate)
Keep an Eye on December 1st, 2009:  The $8,000 tax credit currently available to First Time Home Buyers (defined as those who have not owned a home for the past three years) expires on December 1st, 2009.  Because it usually takes around 45 days to close escrow on a house after a contract is signed, buyers have very little time left to act.  As of Tuesday, Sept. 15, there are only 76 days left before the credit ends.   There has been a recent push, to get Congress to either extend the program, or create a new program that would be available to all home buyers.  The National Association of Realtors points out the current program brought 1.2 million new buyers into the market.  The NAR's concern is, the recent buying frenzy will dry up once the tax credit expires.  Analysts argue that wit...
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By Wendi-Mae Davis, CREN, CRS, GRI, SRES, Broker Associate, Counselor
(Future Homes & Real Estate)
September 12, 2009 - Cameron Park - Despite a few flashes of lightning and the looming threat of rain, 59 dogs made history in Cameron Park last weekend, being the first dogs ever permitted to play in Cameron Park Lake.  We hope to have a similar event to raise funds for the Park slated to be built in El Dorado Hills behind the Community Center... Pooch Plunge & Laps at the Lake This was the place to be last Saturday if you were a dog. The event,   sponsored by El Dorado Dog Owners Guild (EDDOG) and the Cameron Park Community Services District (CSD), was a fundraiser for the fenced-in off-leash dog park currently in development at Hacienda Park on Cameron Park Drive. "Of course the dogs couldn't have cared less about the weather. They were here to chase balls, get wet, make friends...b...
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By Mike West, El Dorado Hills, CA CDPE, CNE, Licensed Loan Origi
(Heritage Oak Properties)
El Dorado Hills, CA REO (BANK OWNED) SALES DATA FOR AUGUST 2009 This is a continuation of my monthly report on Bank Owned home sales data for El Dorado Hills, CA.  This report covers REO homes sold in August of 2009, the latest in my study of more than two years. There were 10 REO homes sold in August, down from 22 in July.  The average days-on-market increased to 36, up from 33 in July, largely because one sold home was on the market for 169 days and represented 10% of the sales.  However, a full 50% of the REO homes that sold were on the market for less than two weeks.  REO homes are still selling quickly.  The 10 homes sold represent 26.4% of all homes sold in El Dorado Hills, down from 31.5% in July.  There are fewer REO homes on the market. The overall number of homes sold in El Do...
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By Aaron Cullen, Folsom, El Dorado Hills & Sacramento Real Estate &
(Brokers Inc. Residential Real estate)
Facing a Foreclosure in El Dorado Hills, CA? At the end of July in 2009, there were 352 homes for sale in El Dorado Hills.  The breakdown: 204 "Non-Distressed" listings, 128 "Short Sale" listings and 20 "Bank Owned" listings.  In the same month, there were 41 Non-Distressed sales, 9 Short Sales and 23 Bank Owned sales that closed escrow.  What does this tell us?  20% of the Non-Distressed inventory sold, 7% of the Short Sale inventory sold and 115% of the Bank Owned inventory sold.  Bottom line: If you get foreclosed on, the bank will unload your home quick and cheap.  Foreclosure may be avoided with a short sale, but time is of the essence and there is no margin for error.  If you hire an experienced short sale specialist, the odds of your success will increase exponentially! Short Sal...
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By Aaron Cullen, Folsom, El Dorado Hills & Sacramento Real Estate &
(Brokers Inc. Residential Real estate)
The Pace of U.S. Home Sales is Fastest in Two Years:  Sales of previously owned U.S. homes jumped 7.2 percent in July to mark the fastest sales pace in nearly two years in a strong sign that housing is pulling out of a three-year slump.  Sales in July rose for the fourth straight month to hit an annual rate of 5.24 million units, the highest rate since August 2007, the National Association of Realtors said, beating market expectations for a 5 million unit pace. Sales in June had been at a 4.89 million pace.  July's increase was the largest monthly gain since the series started in 1999. The last time sales rose for four consecutive months was in June 2004, the NAR said.  The Realtors group heralded the July sales as a turning point, while some observers offered a more cautious view.  "Th...
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By Wendi-Mae Davis, CREN, CRS, GRI, SRES, Broker Associate, Counselor
(Future Homes & Real Estate)
Now is the time to take advantage of the many programs out there just for first time buyers...want to earn an $8K credit when you buy a home before the end of 2009?  Call me and find out just how to do that.  Here's another program that should not be passed up-sorry for saying it-but you would truly be a fool if you do!  Take advantage of the C.A.R. (California Association of Realtors) Housing Affordability Fund's Mortgage Protection Program. The program was developed to help address first-time home buyers' concerns about potential job loss and how such a loss would impact their ability to make their mortgage payment. Through the Mortgage Protection Program, first-time home buyers who lose their jobs due to layoffs may be eligible to receive up to $1,500 per month, for up to six months,...
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By Anna Boyd, CDPE, El Dorado Sacramento
(Re/Max Gold)
If you've wanted to live in El Dorado Hills due to its excellent location, terrain, schools - this is about as close to the best time to buy the home you've been dreaming about.  There is still great inventory, but will they be affordable a year from now?   Right now there is still choice, and excellent deals to be made.  But the lowest priced homes are being gobbled up.  El Dorado Hills has 323 active listings. Home prices range from $255,000 3 bed/2 bath short sale 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 49 homes priced over $1,000,000 indicating both affordable and luxury living is available in El Dorado Hills.  There are 61 pending sales with average days on the market of 68. There are 181 sold listings in th...
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By Mike West, El Dorado Hills, CA CDPE, CNE, Licensed Loan Origi
(Heritage Oak Properties)
EL DORADO HILLS, CA REO (BANK OWNED) SALES DATA FOR JULY 2009 This is a continuation of my monthly report on Bank Owned home sales data for El Dorado Hills, CA.  This report covers REO homes sold in July of 2009, the latest in my two year long series. There were 22 REO homes sold in July, five more than sold in June.  The average days-on-market dropped to 33, markedly down from 119 in May to 93 in June.  REO homes are selling much more quickly.  Of the REO homes sold, 50% were on the market for less than two weeks.  Much of the older inventory has been cleaned out.  Of the 22 REO homes sold, only two were on the market for more than 100 days.  The 22 homes sold represent 31.5% of all homes sold in El Dorado Hills in July.  The cost per square foot of REO homes in July increased to $ 145...
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By Mike West, El Dorado Hills, CA CDPE, CNE, Licensed Loan Origi
(Heritage Oak Properties)
El Dorado Hills, Ca SOLD home cost per square foot. There are many ways to measure property values in the housing market.  One that Realtors frequently use is the sold property cost per square foot.  This is one of the more valid measurements at our disposal.  I have been measuring the sold REO (Bank Owned) property statistics for El Dorado Hills, Ca for two years and post a monthly report of our activity.   I have decided to compare the sold cost per square foot of REO homes and the sold cost per square foot of ALL homes sold.  The chart below reports those numbers for the past year and one half.  Although there are a few blips, the trends are clear.  Housing prices have fallen consistently during the measurement period. One fact worthy of note is that the sold cost for ALL homes sold ...
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By Susan Neal, Fair Oaks CA & Sacramento Area Real Estate Broker
(RE/MAX Gold, Fair Oaks)
For country food done right, check out The Purple Place in El Dorado Hills California. In El Dorado Hills, there's a restaurant and bar that has been a landmark for over 50 years: the Purple Place. Once known as a roadhouse, it has evolved into a family establishment with the motto, "Country food done right."  Okay, let's talk about that unique color first. Legend has it that the original owner of the Purple Place was a worker on the Folsom Dam project in 1955 and had access to "spare parts" and "excess materials." He used them to build a bar. When it came time to paint it, there was, apparently, a lot of paint that just happened to be lying around, so he mixed it together and came up with "this god awful color" purple.  The locals quickly identified with it, and when a subsequent owner...
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By Aaron Cullen, Folsom, El Dorado Hills & Sacramento Real Estate &
(Brokers Inc. Residential Real estate)
What difference does a year make?  All would-be home buyers, waiting for the market to bottom, should consider the following:  While it's true that the best environment home buyers have ever seen may have been from January to late May of this year, outstanding opportunities still exist for those who act soon. If you are planning to buy a home, there are important dates on the calendar that you need to take note of so you can act accordingly. These dates represent money-saving opportunities for consumers.  We may never see rates this low again:  In response to the faltering economy in late 2008, the Federal Reserve announced they would start buying Mortgage Backed Securities (MBS). Immediately after this announcement, 30-yr. fixed rates plunged into the mid 4% range. What you need know i...
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By Anna Boyd, CDPE, El Dorado Sacramento
(Re/Max Gold)
The beautiful foothills area of El Dorado Hills has 333 active listings. Home prices range from $289,900 for a 3bed/2bath to a newer 6900 sq ft home in the award winning master planned community of Serrano priced at $2,995,000.   There are 68 homes for sale priced under $400,000 and 56 homes priced over $1,000,000 indicating both affordable and luxury living is available in El Dorado Hills.  There are 79 pending sales with average days on the market of 64. There are 157 sold listings in the last 3 months with average days on the market of 89. Average list price to sale price is stable at 96.4%.  The number of sold listings is more than a 30% increase from mid-May.  Visit my website, www.annaboyd.com for free MLS Search (no registration required) or call me for more information (916) 813...
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By Mike West, El Dorado Hills, CA CDPE, CNE, Licensed Loan Origi
(Heritage Oak Properties)
Mike West | Greenrock Realty & Finance, Inc. | 916.337.0658 Malcolm Dixon Road, El Dorado Hills, CA Sensational Country Home 4BR/3BA Single Family House offered at $340,000 Year Built 1984 Sq Footage 2,158 Bedrooms 4 Bathrooms 3 full, 0 partial Floors 2 Parking 2 Car garage Lot Size 1.01 acres HOA/Maint $0 per month DESCRIPTION This sensational home radiates tranquility. Set in a bucolic section of custom-built homes in El Dorado Hills, it is 2158 square feet and features three (possible 4) bedrooms and three full bathrooms. Glossy wood floors are prominent throughout most of the home with new tile in all three bathrooms and the laundry room. The interior of the home was professionally painted and looks it. The kitchen includes built in oven and microwave, loads of counter space and a ...
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By Mike West, El Dorado Hills, CA CDPE, CNE, Licensed Loan Origi
(Heritage Oak Properties)
EL DORADO HILLS, CA REO (BANK OWNED) SALES DATA FOR JUNE 2009 This is a continuation of my monthly report on Bank Owned home sales data for El Dorado Hills, CA.  This report covers REO homes sold in June of 2009. There were seventeen REO homes sold in June, exactly the same number that were sold in May.  The average days-on-market dropped from 119 in May to 93 in June, so REO homes sold even more quickly.  Of the REO homes sold, only 17.7% were on the market for less than two weeks.  This is a much smaller percentage than normal.  Some of the older inventory has been cleaned out.  Of the seventeen REO homes sold, six were on the market over 100 days; four of those have been on the market for over 200 days.  The seventeen homes sold represent only 33.4% of all homes sold in El Dorado Hil...
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By Wendi-Mae Davis, CREN, CRS, GRI, SRES, Broker Associate, Counselor
(Future Homes & Real Estate)
Look at what is on the Horizon for El Dorado HIlls!  I am both A Residential Sales Broker/Counselor for Connect Realty...and am the Coordinator of Logistics for EDDOG-a group that has been working for several years to put a much wanted and needed Dog Park into our Community.  We are excited to report that we have been granted the land!  Yeah!  And talk about location...the open space right behind the El Dorado Hills Community Center-and next to the Joe Ribaudo Memorial Field.  All we need are the donations to start construction!  for more information, please go to http://www.eddog.org or http://www.wendimae.com Also, feel free to contact me direct at: toll free 866-333-6333 We could surely use volunteers to help out with our fundraising efforts and/or new members for our group!  Also ju...
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By Mike West, El Dorado Hills, CA CDPE, CNE, Licensed Loan Origi
(Heritage Oak Properties)
Every once in a while it is good to take your nose away from the grindstone and relax.  Photography is my avocation, and when I apply my photographic skills to things growing in my courtyard, I occasionally come up with something worthy of the effort.  As a gardener I excel at growing weeds and causing perfectly healthy plants to die. This weekend, in the 100 degree plus weather, our Lotus plant decided to bloom.  The lotus plant is not indigenous to El Dorado Hills, CA.  Perhaps for that very reason the Lotus blossom is the most ephemeral of flowers.  Each year we don't know if the plant will blossom or not, and when it does it only blossoms once in the summer.  The blossom lasts for no more than two or three days. The two shots below were taken on Saturday and Sunday early morning.  I...
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Proper maintenance on all appliances is essential for keeping them operating efficiently and safely; Dryer Vent Cleaning is the cure for most clothes dryer problems   Sacramento, CA - Gina Fazil is the owner of Dryer Vent Wizard franchise servicing the Sacramento, California area.  Dryer Vent Wizard specializes in all dryer exhaust issues and provides dryer vent cleaning, repair, installation and maintenance.  During a recent interview, Gina spoke about the importance of proper dryer vent maintenance to keep clothes dryers running safely and efficiently.   "Dryer vent cleaning is the cure for most clothes dryer problems," said Gina.  "When a dryer isn't venting properly it will not operate properly.  Dryer vent cleaning promotes maximum airflow which is the number one requirement for a ...
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