As a Curtis Park resident, I’ve been following the most recent news on the Curtis Park Village development – here’s a recent piece that goes a little beyond our Viewpoint news.
http://www.sacbee.com/2013/05/05/5393743/petrovich-to-break-ground-on-long.html#mi_rss=Business
I have viewed and sold so many homes with dual pane windows that have failed. 
The clear, or should I say unclear, indication is fogged up glass. When you try to clean them, you quickly realize that there is moisture trapped in between the two panes, hence the window has failed. Most inspectors will tell you that this does not diminish the effectiveness of the window, rather it just looks ugly. And typically the remedy is replacing the glass or the 
window, which can be costly.
I ran across an article/ad regarding a newer technology, whereby they can de-moisturize and repair the window by just drilling to small holes in the corners. Sound great if it actually is legitimate.
Has anyone out there utilized this technology? And more importantly, does it work? If so, this would be a great innovation to all those failed windows out there.
Enjoy,
Keith Klassen – Real Estate Broker
916.669.9030
KeithAKlassen@gmail.com
I just closed a deal that could not have gotten much better for the buyer.
1) She was paying $1700 in rent for a decent unit in Midtown (but, still a lot of money). the buyer got into contract for $122,750 on a 1890′s Victorian home (just what she dreamed about!). Here housing payments were going to be about $730/month.
2) We got into contract before April 30, 2010 as to qualify for the Federal Tax Credit of $8000.
3) We closed after May 1, 2010 so to qualify for the $10,000 Tax Credit from the State.
4) The appraisal came back at a value of $105,000, so the seller was compelled to come down to that price. Now her payments will drop below $650/month!
Let’s do the math… About $18,000 savings on the purchase price (with a lower deposit amount), $18,000 in tax incentives – that’s a nice, quick $36,000.
5) The home inspection came back very clean and the pest inspection had minor work needed. A few bonuses: We found out that the foundation was redone at some point in the last 10 years; The roof was only about 1-year-old; There is hardwood underneath the laminate overlay, which is part of the buyer’s dream too!
Congratulations Laila! I look forward to champagne this afternoon.
Enjoy,
Keith Klassen – Real Estate Broker
916.669.9030
I caught a news piece this morning while at the gym. The title was something like the 
one above. The segment dealt with the question, Do energy efficient upgrades in a home make a difference in the sale price? Even with long-term energy savings, the short and resounding answer was, “NO.” While it makes all the difference for the environment, the sale prices do not reflect the upgrades, whether it be solar, added insulation, dual flush toilets, Energy Star appliances, etc. The target then got pinned on appraisers. They bluntly said that it was the appraisers fault… [paraphrased] The appraisers are behind the curve on this one. It’s the appraisers that have not gotten up to speed and are not giving correct value to these items. When an appraiser sees a furnace, whether it’s energy efficient or not, they just see a furnace…”
Now I have friends that are appraisers that will read this and have an acid reflex response (a little sour taste in their mouth). And I know theses appraisers do know the difference and can spot energy efficient systems.
I would love a response/rebuttal from the appraisal world. Sound off.
And don’t kill/hate the messenger – I’m just reiterating what I saw on the news this morning.
Enjoy,
Keith Klassen – Real Estate Broker
916.669.9030
I am fortunate to do regular work with the developers, Housing Group Fund, especially in acquiring and selling properties. They recently partnered with Smud (our local utility company) on a home in a middle to lower-income area to rehabilitate it and make it energy-efficient. Yesterday they held an open house for the real estate community. They had the Quad-Lock blocks on display (see an earlier post of mind on this product, on this home).
This home is a great example of what true stimulus can accomplish. Neighborhoods that usually do not get attention like this, could be transformed.
A friend of mine and appraiser, Ryan Lundquist, was there too and put together a fantastic video showing off the home. Check it out below.
Enjoy,
Keith Klassen – Real Estate Broker
916.669.9030
Posted in Development
Tagged Buyer, buyers, energy efficient, Green, Real Estate, Real Estate market, Realtor, Sacramento, Sacramento Real Estate, South Sacramento
This post is not very sexy, but hopefully interesting. No special windows or solar-power… just insulation. I work with a (re)developer that is partnering with Smud (our local utility co.) on a rehab project in South Sacramento. Smud’s claim is that this is the first house on the west coast in which this product has been use. In layman’s terms, it’s a foam, interlocking block that is stacked up around the outside of the house. Wire and stucco are then applied. Supposedly it is extremely easy to install (my kids would love to get a hold of this stuff) and super energy efficient.
Enjoy,
Keith Klassen – Real Estate Broker
916.669.9030
Posted in Development
Tagged Buyer, Development, insulation, news, Real Estate, Real Estate market, Realtor, redevelopement, Sacramento, Sacramento Real Estate, South Sacramento
This is in reference specifically to the programs as of late that have tried to keep people in their homes through loan modification. This is a question I and many others have been asking and trying to figure out for some time now.
While I attempt to be eternally optimistic, numbers usually don’t lie (if they are presented honestly – ha ha). Seriously though, I am an avid reader of anything Mish writes and he nailed it on the head here -
Statistical Nonsense On “Help”
For the 40% that end up defaulting anyway, how much money, time and mental energy did they waste in these programs? Assuming the other 60% keep their houses I have to ask “Who was it that was really helped? The bank or the home owner?”
I suggest in most instances if anyone was “helped” it was the lender. It is no favor to make someone a debt slave forever in these programs. Finally, one must look at other costs.
For example, how many people stopped paying their mortgages just to get “help”? Also note that the sooner housing prices bottom, the better off everyone will be. These programs harm price disclosure, help to keep prices elevated, and thus curtail genuine demand.
From these perspectives, HAMP and the entire gamut of “help” programs has done anything but help. Speaking of government help programs, please consider the Mission Statement of Fannie Mae.
We are a shareholder-owned company with a public mission. We exist to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market.
A quick check now shows the link I had with that mission statement has been redirected to About Fannie Mae
The link now states “Fannie Mae is a government-sponsored enterprise (GSE) chartered by Congress with a mission to provide liquidity, stability and affordability to the U.S. housing and mortgage markets.”
Fannie Mae clearly failed its mission to provide stability and affordability to housing. The truth is no government program ever provides stability or affordability. HAMP won’t either, and the truth should be easy to see.
You can find the full article here
Enjoy,
Keith Klassen – Real Estate Broker
916.669.9030
Quick run down…
The Federal Government is offering and has extended an $8000 tax credit through the end of this month. Home buyers need to be in contract on a home by April 30, 2010 and close escrow by June 30, 2010.
Many of my clients have asked how they get the credit once they close. Go to this website, which will answer most all of your questions – http://www.federalhousingtaxcredit.com/home.html
OR
just click here
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California Housing Tax Credit
Up to (key phrase) $10,000 tax credit from the State of California for first-time home buyers, who purchase a home after May 1, 2010. A few qualifications:
- The money is credited over 3 years ($3,333/year) for taxable income.
- The money ($100M) will run out. While the programs runs through the end of December 2010, some are predicting toward mid-August it will be gone!
Here is site to visit for questions and how to claim this incentive – Ftb.ca.gov
Enjoy,
Keith Klassen – Real Estate Broker
916.669.9030
Posted in Home Buying
Tagged advice, Buyer, buyers, Curtis Park, Real Estate, Real Estate market, Realtor, Sacramento, Sacramento Real Estate, tax credit, taxes
I know you were hoping for a risqué story… or the one were the daughter called the police on me for “breaking in” and “accosting her” as the mother said… nope just a cool indoor sauna. I walked into one of the space rooms of this blue-collar home and “Whoa, didn’t expect to find this…
Enjoy,
Keith Klassen – Real Estate Broker
916.669.9030
I hate to be the bearer of bad news, especially in the face of all those who want to stay positive.
The keys numbers that is not publicized or talked about much, according to this article, the growing number of home owners who are unable to afford their mortgage payment. This is one thing that is not getting better, rather worse, which will obviously curtail any policy and recovery plan of action.
Check out the article here
or cut and paste -
Enjoy,
Keith Klassen – Real Estate Broker
916.669.9030
