Tag Archives: Real Estate

Housing Tax Credits

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

_____________________

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

The Things We See When Viewing Property

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

Article – Why the Housing Slump Isn’t Getting Better

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 –

http://articles.moneycentral.msn.com/Banking/HomeFinancing/why-housing-slump-isnt-getting-better.aspx

Enjoy,

Keith Klassen – Real Estate Broker

916.669.9030

Dream House – My Bizarre Real Estate Dream Last Night

When I waited tables at a restaurant in college I use to have, what we called “wait-mares.”  These were stress induced dreams/nightmares usually involving being overwhelmed with too many customers all at once, or showing up to work without your uniform, etc.

Last night I had a crazy dream about me buying a home and facing similar situations as my clients.  I drove up to a gorgeous home to view, that I loved from the pictures and online information – my parents were with me (weird).  When we a got out of the car, another agent was there about to show the home to their client.  I did the courteous thing and said, “We’ll wait until you are done and give you some space.”  In the meantime we struck up a conversation with the owner and bonded over shared interests and our children.  In a genuine way, we won their favor, which may sway them if it came to choosing between offers (a good technique in a “normal” market when dealing directly with a seller.  People that like you, generally want to work with you).

We waited about a half an hour (kind of a long time) and the folks before us were not through viewing the property, so we decided to politely press forward and have a look around.  When we got to the kitchen, we noticed that the first shoppers were engaged with their agent in writing an offer, right there at the kitchen table – the nerve!  We kept our cool and calmly continued viewing the home.  Parts of the home were upgraded, while other things were stuck in a time period.  There were many things that I did not completely care for, but my dad kept pointing out the great things about the house (which he never does in real life), such as, “But Keith, these things you don’t like are all easy fixes – just cosmetic.”  Or, my dad added, “Those things that concern you are small in comparison to the great price!  And it even has view of the beach!”  (Even though it was in the center of an urban area [don’t you love how dreams can bend reality?!]  I guess this is my secret desire, to live on the beach while still being connected to the city?  Come to think of it, that would be pretty awesome!).  As we walked around the house, we noticed more home buyers filtering though the house, until almost every room had people in it, all discussing the offer they were going to make – oh the pressure!

[This was quite a vivid and emotional dream]

I felt so torn inside, not knowing if I should move forward, and if so, how much over asking price should I offer?  We bumped into the owner while easing our way back to the front door.  She said, “Don’t miss the flat screen TV we installed on the porch or the toaster!”  What!?!?  Yes, I saw the perfectly mounted TV, and to the left of it hung a chrome toaster suspended from an overhang.  (I have no idea how that would work, but it was freakin’ cool.  Mark my words, the new future trend in real estate…. suspended outdoor, chrome toasters).

There my dream ended…

What does this all mean?  Am I stressed out?  Am I just feeling my clients’ angst?  Is my father a picture of myself and the things I tell clients? (uh oh).  Should I move to the beach?

Any dream therapists out there want to analyze me?

Enjoy,

Keith Klassen – Real Estate Broker

916.669.9030

Home in Escrow – Oak Park Victorian!

I just got into contract with one of my clients on this property in Oak Park.  It’s a fantastic 1890’s Victorian.

We just did the home and pest inspection yesterday.  I love days like this when the nspections moves forward without any big surprises.  I say this because every home has issues, especially ones built-in the late 1800’s.

Can you believe this home, in a decent part of Oak Park, in reasonable condition, is selling for a little over $100,000?  The home inspector asked if it is on slab or has a crawl space… I said “neither.  It’s a walk space!”  This basement (well it’s above ground) has at least 9 foot high ceilings!  My first thought when I viewed the property was, finish this out and double your square footage!

I was shocked with how little dry rot there was, plus a new foundation (no bricks) and an almost-new roof!

Check out the pics.

Keith Klassen – Real Estate Broker

916.669.9030

Overview of Curtis Park Village

Recently the environmental plans were approved for the Curtis Park Village development. I have not formed a strong opinion about this project…  I’m all for trading a toxic wasteland for development.  However, I like what one person said about the scale of the retail development side of things – I can move to Roseville if I wanted a suburban neighborhood and outlet stores. Others complain about it being too auto-centric.  I just hope that it will not be a strip mall feel, but somehow reflect the historic Curtis Park and Land Park feel.  I know many of my neighbors who are adamantly for or against it.  It always if fascinating to watch public administration in action and how opinions and attitudes are shaped based on how it affects people.  Currently, I am gathering more information as I now see some bigger progress.

Here is the overview from Petrovich’s website.

Enjoy,

Keith Klassen – Real Estate Broker

916.669.9030

Things That Eat Your Home (Sacramento CA)

Viewing thousands of homes and participating in hundreds of inspections, there are things that become familiar sights – things to look out for that could adversely affect the purchase of a home.

I showed an investor a home that I was about to list.  Originally it was going to be a flip, but the owner has his hands full with about 20 other homes that they are rehabbing.  When previewing this home, there were the normal checklist-thoughts of what needs to be done to get this home ready to rent or sell:  Paint and carpet, rip out and rehab kitchen, new HVAC unit, restore garage from illegal conversion, etc.  Before we left, I pulled back a window curtain and ah ha….

This my friends is a termite “tunnel.”

While these items may seem daunting, they are curable at a relatively reasonable expense.

Enjoy,

Keith Klassen – Real Estate Broker

916.669.9030

Great Remodeled Home for First Time Home Buyer in Sacramento CA

Welcome to 5761 Sampson Way.

This house has been renewed… all you will need to do is move in (and plant a garden in the humongous backyard).

This home has been painted inside and out.  There are new doors (including security doors), new trim, new carpet and tile flooring.  The kitchen and bathrooms have been renovated and upgraded.  Check out the granite-slab counter tops and recessed lighting.

Just to mention a few more of the many upgrades – New central heat and air units, new landscaping, and newly pour concrete driveway (these costs and really add up).

You get all this for under $100,000.  That’s only about $775.00 per month in housing payments, which is less than you’d pay to rent this house!  We have more for sale like this.

Enjoy,

Keith Klassen – Real Estate Broker

916.669.9030

Job Perks – Sacramento Real Estate

I had the good fortune of closing a short sale (after 4 months) in El Dorado Hills.  My clients had big plans to update the home and do some minor renovations.  In the discussion process I overheard them point to the pellet stove insert and say, “That thing has got to go!”  Little did they know I had been shopping for one on and off for the last few years.  I guess I was not very motivated to drop the $2000+ on one of these bad boys.

The clients and I did our final walk through before the close of the sale and I said, “Hey, what are you going to do with that old pellet stove?”  Like how I “beat it up”a bit?  “Oh, we are getting rid of it and putting a gas insert in its place.”  I said, “Hmmm… I’ve actually been looking for one and that would fit perfectly in my 1930’s home – my wife would love it.  I’d be willing to take it off your hands and haul it off.”  He said, “Make me an offer.”

Long story short, I picked it up last weekend and installed it last night.  A shout out to Robin McDonell (and Bruce), “The Pellet Stove Guys!” Robin seriously saved me about $700+ in parts and labor and gave me the tutorial on everything I wanted to know about pellet stoves.  This guy kicks some serious ass when it comes to pellet stoves.  Check out his blog/website here.  Not flashy, but they take care of business.  Put it this way, I was not paying for his fancy showroom.  Thanks Robin for the hook up!

Also, my neighbors came through – Thanks Pete for the bag of pellets and Jay for the use of the truck to make it all happen – true neighbors.

I am currently sitting in my chair enjoying the blaze of the Whitfield Advantage (which I got for a ‘song’).  It’s a cool 53 degrees outside, I’m sipping my coffee, blogging, and watching my kids play Legos in front of the fire.  It’s like Christmas come early.

Enjoy,

Keith Klassen – Real Estate Broker

916.669.9030

Realtor Run-Ins, Sacramento CA

From time to time, I just have to crack back on some of the agents with whom I have
run-ins.  Granted, we all make mistakes, we all have bad days, and we all have our eccentricities…  but come on now!  To be in this business (especially in this economy), one must have a sense of humor, be willing to laugh at themselves, and the industry.

I submitted an offer on a short sale last week – of course, I hustle to get the appointment, show the home, consult with the buyer, and write the offer in a timely and expedient manner.  I did not get a confirmation email that they received the offer the first day, so I emailed again the next.  Here’s the response I got:

[I received this on the 11th]

Hi Keith,

Thank you for your clients offer.

I am on vacation and going on a cruise from the 14th to the 22nd.   I will process all offers on the 22nd.   So please ask your clients to be patient.

Uh, yeah.  We cannot be patient and we will not work with you.  Sorry, on to the next one.  There is a phrase in real estate called, “Time is of the Essence.”  This is a good example of a bad example.

Okay colleagues, everyone can get someone to cover for them!  No matter how small your company is… you could even get someone from another company to cover for you!  Point blank, just bad business practices!

Please make me laugh and share some of your experiences.

Enjoy,

Keith Klassen – Real Estate Broker

916.669.9030