Yelp Yelp, Yelp Us Out!

We’ve been Yelped – in a good way.  We have been very fortunate to have worked with some of the most awesome agents and buyers.  Many have told us how they feel about the process on Yelp.  We invite you to share your experience too.  Thanks in advance for sharing: CLICK HERE.

The Easterbrook Team

916.850.6050

EasterbrookTeam@spmc.com

The Home Loan Workshop Has a New Time

We’ve been testing the public’s interest and availability for the Home Loan Workshop.  We’ve found that 6pm on a Thursday afternoon is a little difficult for some folks.  We’ve changed the times to 5pm and 6pm on Saturday to accommodate people’s busy schedules.  We’ve also increased the regularity of the popular classes.  Send your buyers to the website if they want more information – http:homeloanworkshop.org.

The Easterbrook Team
916.850.6050
EasterbrookTeam@spmc.com

PIW – Lending Without an Appraisal

Fannie Mae and Freddie Mac have been allowing PIW’s (property inspection waivers) on eligible properties.  This completely takes the appraisal equation out of the transaction.  With a PIW there is no worry of a low appraisal or delays waiting for an appraisal to be completed.     

Since 2009, Fannie & Freddie have been collecting information from the appraisals that were being conducted and submitted into the UCDP (Uniform Collateral Data Portal). Desktop Underwriter is using this information and releasing automatic underwriting findings to include the mortgage transaction to be completed without an appraisal.

Not all properties are eligible, but many we are finding do.  One way to strengthen a purchase offer is to have us run Desktop Underwriter before the offer is submitted.  A PIW could tip the scales in the buyer’s favor against multiple offers.  

On the Easterbrook Team, we are always thinking of ways to help our agents do more business with greater ease and customer satisfaction. 

The Easterbrook Team
916.850.6050
EasterbrookTeam@spmc.com

The Survey Says...

There is good news in the housing industry.  A majority of US households have a positive attitude toward housing. Based on two recent surveys by the Federal Reserve Bank of NY and Charles Schwab:

·         49% of Americans feel wealthy when they own a home.

o   62% also defined wealth as spending time with family – we like that.

o   55% indicated that wealth means having time to themselves.

·         65% of all respondents think that buying property in their zip code is a “very good” or “somewhat good” investment, compared to 60% in 2016. Only 10.6% said housing was a “bad investment”.

·         For agents wanting to target the ideal homebuyer, the favorable view on housing was particularly pronounced among younger, more educated (bachelor’s degree or more), and higher-income (annual income of $60,000 or more) households.

·         Renters who want to buy a home continue to perceive obtaining a mortgage as difficult. Renters continue to report a strong preference for owning homes, although it weakened relative to the previous two years, the survey found.

·         How much is enough? Respondents said that they believe:

o   $1.4 million is enough to be considered financially comfortable.

o   $2.4 million is enough money to be considered “wealthy”.

Dual Agency Banned in Canada

REPOSTED DIRECTLY FROM INMAN NEWS. THIS CONTENT HAS NOT BEEN MODERATED BY WFG NATIONAL TITLE.

To read the entire article, Please Click Here!

France is On Sale

There are many castles currently on sale in France for less than a median priced home in the Bay!  Here is an article that lists 10 affordable castles currently for sale – CLICK HERE or should we say CLIQUEZ ICI.  This is a great article about an Australian couple that actually bought a chateau and is restoring it to its former glory (CLICK HERE).

The Easterbrook Team 916.850.6050 EasterbrookTeam@spmc.com

A Tsunami is Coming!

A Tsunami is Coming!

There’s a tidal wave of epic proportions of home buyers that is coming – directly from the southwest of us.  Real estate analysts predict that one third of the home buyers currently planning to buy real estate in the greater Sacramento, El Dorado, and Placer Counties areas are from the Bay Area.  North State Building Industry Association reports that they’ve checked with builders and guesses the one-third figure may be conservative at some new subdivisions.

Bay Area residents are blowing up Sacramento home developer websites, clicking through floor plans, watching promotional videos and signing up for email blasts, according to the New Home Company – a firm that is building in El Dorado Hills, downtown Sacramento and Davis.

The reasons are obvious: The median price of a Bay Area home hit $850,000 in April, according to CoreLogic, a real estate data company. That's a $100,000 increase in one year. In San Francisco, the median price hit $1.3 million. That often buys no more than a 1,600-square-foot house!  In contrast, the April median sales price for a resale home in Sacramento County was $357,000. And the median for a new home was $433,000.

As we reported in the Easterbrook Team newsletter last week, a recent survey reported that 46% of the Bay Area residents say they want to move out of the region within the next few years. They cite the high cost of living, high housing costs, traffic congestion and homelessness.
By contrast, Sacramento, El Dorado, and Placer Counties offer relative affordable housing, excellent employment opportunities, recreation, and a great central hub with an easy commute to the wineries in the foothills, Lake Tahoe and Donner Lake, and an easy drive back down to the Bay (if the former residents feel homesick).  
What can you do to ride this wave? 

·         Gear up!  If you don’t have a web presence, now would be the time to jump in.  No website?  Call us, we have recently helped several agents and even helped build one Realtor’s site from scratch for him. 

·         You can also build your online presence by affiliating with activity magnets such as Zillow, Realtor.com.

·         Facebook is still a powerhouse!  You can directly advertise homes and real estate services to Bay Area residents.

·         Open Houses – what better way to present yourself as the Sacramento Ambassador than to connect face to face with folks up from the Bay? 

Do you have any ideas to capture the wave of buyers coming soon?  Let us know.  Also, let us know how the Easterbrook Team can help you with your business.  We’d love to partner with you and help your real estate business grow!

The Easterbrook Team 916.850.6050 EasterbrookTeam@spmc.com