Archive for March, 2009
Folsom Bridge Now Open to Traffic
March 29th, 2009 categories: American River, Folsom Bridges, Folsom CA, Special Events
It’s Officially Opened!
All three counties:Sacramento, Placer and El Dorado rejoiced at the opening of Folsom Lake Crossing today. There will be 20,000 less cars driving through downtown Folsom trying to get from Sacramento county to each of the other two. Kids young and old walked, bicycled, motorcycled and jogged across the new bridge. There was great BBQ and other vendors who managed to set up shop for the opening and of course the Human Chain of Gratitude was there filming those who participated.
The decrease in traffic will be especially appreciated by those living in the historic district. The various side streets that were closed off to cross traffic made travel through town difficult and when school lets out at Sutter Jr. High there should be a noticeable reduction of congestion. The timing couldn’t be better for the downtown merchants since Easter week starts the beginning of the various festivals and street fairs. The first this year is on April 19th and is the Antique Fair hosted by Sutter St. merchants.
Commuters can count on a reduction in travel time by about 10-15 minutes and longer for those traveling from Placer county to El dorado county. One thing to keep in mind will be watching your speed limit. Folsom police is cracking down on speeders and will be keeping a close eye on the new bridge for violators so keep that in mind.
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Folsom Lake Crossing Opens March 28, 2009
March 25th, 2009 categories: American River, Folsom Bridges, Folsom CA, Folsom Lake, Special Events
New bridge ready for use by 4PM
The band will play, the dignitaries will give their speeches and then the people will for one time only be able to walk along the new bridge in Folsom CA this Saturday, March 28th, and see the American River under their feet. There hasn’t been this much excitement in Folsom since the Natomas Crossing was finished in 1999.
There is a group of people forming the Human Chain of Gratitude on Saturday to encourage others to have an attitude of gratitude despite what this economy is doing. I plan on riding my bike across the bridge and joining those grateful souls for a toast and enjoy this one time event.
Another event coming up is the community garage sale in Lembi Park this May 2nd. My office will pick up donated items to be sold with the proceeds going to the Folsom City Zoo. If you would like to donate any gently used items please email me or call my office at 916-984-8778
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Video Phones:The Solution For Some Sellers
March 16th, 2009 categories: Moving Solutions, Sacramento
Staying Connected to Family Without Moving
One of the main reasons people move is to be closer to family members, but in today’s declining market it isn’t practical to take a huge financial loss. I found a great solution while waiting for the economy to stabilize and it’s the latest technological toy, the video phone. This Sunday it will be featured on the Celebrity Apprentice Show.
Imagine sitting in your kitchen eating breakfast with your mom…matter of fact I know of a lady who does that every morning with her grandchildren. The only difference is that she’s miles away from them but enjoys their company because this video phone is real time with no voice lags and crisp pictures. Enjoy the benefits of seeing your family and staying connected without having to sacrifice your retirement account. Concerned about your elderly parents? This device makes it much easier to see how well they look and the expression in their eyes, not just the tone of their voice.
According to Leslie Appleton Young, CAR’s Chief Economist, Sacramento hit bottom in 2007 with sales declining to 44% from 2005. Given the increase in sales for 2008 (26.7%) some folks still won’t be able to take the loss necessary to sell their home to move closer to family. We ranked 2nd statewide for affordability so my latest discovery might just be the solution to keeping close ties to the family. According to Young, it appears the housing market will recover slower than thought so the prognosis is more distressed properties with stability still on the horizon.
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Avoiding Foreclosures
March 11th, 2009 categories: REO, Real Estate, Short Sales
Short Sales, loan modifications and other information.
Since the government passed the new stimulus pkg there has been a lot of questions as to how much money will be devoted to helping homeowners save their homes and the reality is that very few will benefit as it stands now. The reason for that is only those loans that are government backed i.e. FHA, Fannie Mae, Freddie Mac qualify for re-structuring because they must meet the criteria outlined as a government sponsored entity(GSE). Those that do not qualify(which is the majority) are anxious to get out from under the payments so what is the best way to approach this situation? Following is an outline of some of the current methods used in California by the real estate community but please keep in mind that every situation is unique so please email me with your questions.
Short sales offer a solution to selling your home if you owe more than what it is currently worth. The way the bank sees the situation is that they stand to lose more if they don’t agree to take less than the loan balance due. The reason for that is because they will have to pay the foreclosure costs in addition to marketing your property. The banks know that the best case scenario is for them to net 85% of the sale price so a short sale profits them.
Loan modifications are few and far between. Sellers who hire an attorney to negotiate their loans are paying for a service they can handle themselves. In fact according to senate bill 1137 the banks are required to call or visit the homeowner with the express purpose of finding a way to help the homeowner keep his home. The real problem is that most homeowners don’t qualify because they don’t earn the income necessary to qualify. Additionally the GSE are for only those loans that the government insured so your first question will be what type of loan do you have? Calling your lender and finding out if you qualify for a loan modification is the best way to determine how to solve your mortgage problem.
Some people are so frustrated that they just want to walk away because they realize they will never catch up. A deed in lieu of foreclosure basically means that you mail the keys back to the lender. This isn’t really a solution and is basically the same as foreclosure but without the black mark on your credit history. Some lenders make this a difficult process and it will negatively impact your credit score so this would be a last resort. If you find yourself not able to make your house payments and don’t know what to do give me a call and let’s go over your situation. It’s never too late to figure out a solution.
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The New Folsom Bridge
March 8th, 2009 categories: American River, Folsom Bridges, Folsom CA, Folsom Lake, Special Events
Folsom Lake Crossing Opens March 28th
Since the Dam road closed in 2003 the people of Folsom have had to endure over 18000 cars traveling through the downtown streets not to mention the impact on the residents and small businesses in the historic district. The sad truth is that although more people were detoured through that part of town there has not been an increase in business revenue simply because people are passing through.
The declining economy notwithstanding it seems that some businesses have managed to survive and a few have thrived. Chicago Fire, my favorite pizza place, has expanded despite the lack of parking in the historic district and Scarlet’s next door seems especially busy on weekends. Does this mean that once the new bridge opens that we’ll see a reverse in downtown traffic or will it bring more people to that part of town knowing they won’t have to deal with the additional traffic? Inquiring minds want to know….
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