Folsom Zoo Camp
July 22nd, 2011 categories: Folsom CA, Folsom Lake, Special Events
Summer fun in Folsom
The city park and recreation dept. is holding it’s annual summer camp for kids at the zoo starting August 8-12, from 10 a.m. – 3p.m. Children ages 7-10 can learn all about animals in a safe, fun setting. Activities offered are: games, songs, crafts, and close encounters with a variety of amazing Zoo animals. They will learn which animals are predators and those who are prey. Educating campers about complex animal societies and how they, like we, work together as a team in their natural environment. It’s a great opportunity for children to close out their summer while learning things not taught in the classroom.
Camp is for ages 7-10; fee is $289 for Folsom residents / $330 for non-residents.
Please call Folsom Parks & Recreation at (916) 355-7285 or access our online registration system at
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Did You Miss the Bottom of the Market?
October 7th, 2010 categories: Folsom CA, Real Estate, Sacramento Co. Real Estate
Lowest prices were at the beginning of 2010
Some interesting news is starting to surface regarding the housing market in Folsom Ca and surrounding areas. It’s well accepted that we are now bumping along the bottom of the market looking for a floor and it appears that we might have found it! According to a snapshot of statistics from the local MLS it appears prices are starting to go up! Oops! Wasn’t there supposed to be someone at the bottom ringing a bell or something? 
As you can see this chart of home sales from Sept. 2005 to Sept. 2010 shows that the bottom of the market was somewhere around Janurary 2010! That doesn’t mean that you’ve completely missed the bottom. If you are waiting for an approval on a short sale then you’re probably one of the lucky few who got your offer in at the right time.
Overall, Folsom has held onto the higher priced status in comparison to other communities but it still dropped significantly along with most of California. Tom Sullivan, who has since moved his show to the big apple, was right on the money when he said our values increased to 40% which means that we had to come down at least 37% to achieve a normal market. According to current statistics Folsom is down 37% from Sept. 2005! So are we there yet?
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Folsom Homes Near Parks
June 12th, 2010 categories: Folsom CA, Folsom Lake, Home buying, Investors, Northern CA Recreation, Outdoor Activities
Sheldon Park Offers Tennis and Soccer
This past week I just listed a newer home in Coventry which is a small subdivision located less than a block away from Sheldon Park in the Natoma Station area. The beauty of this property is it’s proximity to shopping, transportation, schools and parks.
Some people think that just because you’re located close to those services that it must be a noisy neighborhood but this is a mistaken assumption. This particular property was recently re-sided with a 50 year cement siding that virtually makes the house soundproof. The house faces the court behind so there are no neighbors yards backing up to this and all you hear is the usual street sounds of a cul-de-sac.
One of the outstanding features of this home is the layout. The main floor utilizes the space well and the upstairs has three bedrooms with one designed for an office. The backyard has enough patio to entertain and is low maintenance. It’s hard to believe but this house is a fair market sale, no short sale, no bank foreclosure…just a regular listing. So if you’re interested please view the video and give me a call to take a tour.
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Cycling Lake Natoma in Folsom CA
April 18th, 2010 categories: Folsom Bridges, Folsom CA, Orangevale CA, Special Events
New Group Starting April 18th
A new group of cyclists is forming just in time to enjoy the spring weather in Folsom CA. For those of you haven’t been on a bike in years or are just learning about the trails in Folsom this will prove to be invaluable in many ways.
First of all, it will teach you about the trail system along the river and get you acquainted with the area from a hands-on point of view. Second, you will meet other cycling enthusiasts who share your excitement and who are about the same skill level. And third you will get the benefit of an experienced guide who can show you the ropes and make suggestions to enhance your ride.
Even though this ride is not technically a part of the Cycle Folsom group it is overseen by one of it’s experienced members. They schedule daily rides for the weekend warriors to day long distance rides for the seasoned cyclist. Another feature of this new riding group is that the pace is set by the slowest rider so there is no fear of not keeping up.
It meets at Bicycles Plus in Folsom, next to Karen’s Bakery at 10:30AM and will start at 11:00AM. It is scheduled to meet every Sunday and is open to all kinds of bicycles (except recumbent) and you must have a helmet and be 18yrs of age. Enjoy the spring weather and meet a new cycling friend!
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Folsom’s Double Rainbow
April 11th, 2010 categories: Folsom CA, Outdoor Activities, Special Events
Second Saturday in Folsom CA
The return of Second Saturday last night was a hit with local merchants enjoying the crowds and beautiful weather holding until this afternoon’s rain storm. The rain cleaned the air and left a beautiful double rainbow hovering over Sutter St. in historic downtown Folsom.
Another amazing feat is that parking on Sutter St. is possible. I actually found a place to park in front of Hop Sing Palace last night! The rennovation is starting to take shape and I’m looking forward to the finished product.
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Folsom Competes for Google High Speed
March 31st, 2010 categories: Folsom CA
Folsom City Council Keeps Focus on Technology
It’s been a pet project of the Folsom City Council to take the new century by storm and their goal to have the city completely wired just took another step towards that goal this week. According to the Sacramento Journal’s article of March 24, 2010, Folsom has submitted it’s application to be a test city for Google’s new high speed network.
A few years ago the city council decided that since we are host to Intel, HP and other technology companies it only made sense to work towards complete WiFi readiness throughout the town. (Intel has been a major player and driving force behind this project). So way back in Nov. 2005 the city began exploring it’s options with a feasibility study to determine the best wireless networks for our fair city.
The Wi-Max study is definitely a must read for the engineer types and I would love to know the conclusion as my eyes started to cross about 15 pages into the report, but in regards to the goal it seems the city has been divided up into a grid system that will eventually offer WiFi readiness throughout all neighborhoods. Couple that with Google’s new system and the residents just might enjoy an economic boost when they no longer have to pay an Internet provider.
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Ed Mitchell Park wins SATA 2009 Championship
February 8th, 2010 categories: Folsom CA, Outdoor Activities, Sacramento, Tennis
Folsom wins bragging rights!
The 2009 season came to a close with Folsom Park winning the final game against Roseville’s Sierra View with a score of 2-1. The women’s 6.0 doubles team started with lessons from Ed Mitchell’s Bryan Solem and within three years managed to take Top Dog status at the Sacramento Area Tennis Association’s (SATA) competition.
First line Antonette Clark and Norma Thomson lost to Kerry Weinroth and Robby Denning 6-1,6-1. The third line of Ellen Desvarro and Christine Volker won 6-0, 6-2 against Joyce Bray and Angelen Simao. During the last game, Ellen Desvarro pulled her calf muscle and was unable to run leaving little room for error. The final tie-breaking game was won by Sandy Kennedy and Beth Mergens 7-5, 6-2 against Sierra View’s Betsy Newington and Liz Adkins.
Spring 2010 tennis season begins in March so if you’re looking for some great tennis and fun gals to play with email me with your information or go to the Top Dog site for more information about Sacramento area tennis.
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Starter Homes in Folsom CA Hard to Find
January 23rd, 2010 categories: Folsom CA, Folsom Lake, Folsom Lake Homes, Home buying, Real Estate
Market update Jan 2010
Buyers already need the patience of Job to close a short sale which currently represents anywhere from 45-65% of all home purchases in our area. The statistics show that they take an average of 120 days to get to the negotiation stage in our area with an average closing another 30 days. Additionally, over 38% of recent home purchases were funded by FHA, which typically adds 15-30 days to close the transaction. What this adds up to is more frustration for anyone involved in the real estate market today.
For clarity, a short sale is subject to the lender approving the sale. MLS rules require that when the seller has accepted a short sale offer the listing has to be changed to a contingent status. Most real estate agents will not show contingent listings because once the seller has sent it to the bank for consideration it is essentially off the market to other buyers. The dirty little secret is that banks don’t really want to see more than one offer because they are overwhelmed with work, so agents oblige them by taking highest and best and keeping others in back up.
Adding more frustration for buyers are the new FHA requirements. News of increased down payments and higher mortgage insurance premiums doesn’t bode well for those using this type of financing.The beauty of an FHA loan is its “relaxed” standards for qualifying. The rates are typically a bit higher than a conventional loan but the credit score required is lower, making it easier for buyers to secure a loan. Since it is backed by the Federal government should the buyer default, it’s no wonder these loans soar in hard times. Recent news of FHA’s reserves nearing bottom has increased the conditions lenders are putting on buyers making it harder to secure these loans. Now is the time to strategize and take advantage of this program before congress increases the minimum down payment and interest rates.
One glimmer of hope I have experienced is the increase in Broker Price Opinion (BPO) requests from the banks and asset management companies. These opinions are used by the banks to gauge the value of a property in a given area. Once the bank determines the value of its asset, the property is then released for sale. The increase in BPO requests tells me that there are new REO’s (Real Estate Owned) coming online within the next couple of months. This is good news for those buyers ready to purchase and even better news for brokers working hard to survive this market.
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Folsom’s Inventory Status
October 23rd, 2009 categories: Folsom CA, Foreclosures, Home Auctions, Short Sales
Current Statistics for Oct 2009
As Halloween approaches it appears that some of the homes on the block will have the porch light out for reasons other than avoiding tricker treaters.
Inventory is down in Folsom CA and short sales and foreclosures currently represent just under one half of all residential home sales. The spookiest information I found was the amount of bank owned homes (REO’s) in Folsom which currently stands at 896! According to Realist there are currently 232 pre-foreclosures in Folsom which means that the homeowners are behind in their mortgage payments and a Notice of Default (NOD) has been filed. Their are also 192 homes that are set to go to auction. I usually see most of these homes go back to the bank because buyers are leery of purchasing a home without full disclosures available on the condition of title.
The latest numbers for Sept. 2009 show that there were 64 homes sold in Folsom CA, of which 14 were bank owned. Short sales accounted for 12 homes sold which is encouraging because most likely those homes were still occupied and maintained up to the sale. The rest of the properties were fair market sales which include investors selling previous bank foreclosures.
There is some positive news on the horizon which includes a possible extension of the $8000 tax credit for buyers. The discussion includes allowing all buyers to participate so that could help those move up buyers re-examine their options. One other piece of good news are the current interest rates which are still hovering at the 4 3/4% to 5 1/2 % range. These are not the frightening rates that were available when I purchased my first home…they were around 11%…now that’s scary!
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Buying Investment Property in Folsom
September 21st, 2009 categories: Folsom CA, Investors, Real Estate, Tax Incentives
Seven Pointers for Success
Folsom is a great place to live and an even better place to own an investment property evidenced by the numbers of first time investors who came through my open house this past Sunday. Many are just starting their investigation and some don’t really know what to expect so I’ve complied the answers to the seven most common questions about real estate investing.
1. How important is location? Investing in the best location you can afford will dictate the kind of tenants you will attract, and in turn, how much rent you can charge. More desirable neighborhoods appreciate more over time and are less susceptible to the ups and downs of the real estate market.
2. What about repairs? Expect to spend some money on repairs and resist the urge to upgrade. Your thinking should be based on an investment NOT what you would want if you were living there. The rule of thumb is light, bright and clean and remember you will need to factor in new paint and carpet every few years.
3. How do I avoid capital gains? There is a tax rule (1031) that allows for investors to exchange like properties and avoid capital gains so long as you don’t take any profit from the sale. This will allow you to build a nice real estate portfolio if that is your retirement strategy. For most small investors real estate is a buy-and-hold investment and a time frame of at least seven to ten years will allow you to ride out any swings in the market and provide a nice cushion for your retirement. Leave the flipping to the seasoned vets and think long term.
4. What are the costs involved? Calculating the property taxes, insurance, utilities, maintenance, and repairs are considered the cost of doing business…more than just the mortgage payment. Vacancy rates vary but if you buy smart you should be able to figure in a conservative 5% which is standard in the industry.
5. Are fixers a good deal? Buying the worst house in the best neighborhood can work to your advantage. Renters look for better schools and neighborhoods and are less picky about floor plans. Deferred maintenance is the usual cause of property repair so if you have the cash on hand and are not afraid of a little work, you can increase your value by some sweat equity. Don’t skimp on the major repairs though, always hire a licensed contractor.
6. Can I do the credit checks myself? Pay the extra money to run a full background check when screening future tenants. I can’t stress this enough! Running a credit check will give you the basic information that is available electronically but doesn’t address issues that can only be found by a phone call or letter. Some states don’t make information available electronically so you won’t know if they’ve got child support or other obligations that could impact their ability to pay rent.
7.Where do I learn about landlord rights? The Dept. of Consumer Affairs and HUD websites have everything spelled out. Learn about the eviction process and other potential issues so you can do things right, saving time and money. Remember the goal is to find tenants that pay the rent on time, leave the property in good condition, and don’t cause problems with the neighbors. If you would like help finding investment property in Folsom please email me for more information.
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