Tuesday, August 25, 2009

Neighbors Seeing Red or Red Tape

Last night Mr. BT and I had a spare moment to turn on the TV (doesn't happen often). A short time filler came on (KVIE, public TV) called Rob on the Road, which explores California. He featured a man from Woodland that has turned his home into a really cool gas station museum.

Of course my next thought was, to wonder what the neighbors thought (traffic, eye soar etc.).

This thought made me pause. We have been going through all the motions to build a deck in our backyard. We have already applied and received CSD (community service district) approval ($85), and then I spend some time in Placerville applying for the building permit (and asking some other questions) ($350). Of course all our relatives think it is outrageous that we have to jump through so many hoops to build a deck in our own backyard.....and I am a little ticked off at how expensive the fees are, since we are doing most of the work ourselves.

All this to say, I wish there was a happy medium. Less red tape, neighborhoods with character and charm, but nothing too over the top.

Monday, August 17, 2009

Trickle or a Flood?

With all the chatter about shadow inventory, I thought it might be helpful to look at some local numbers.

According to Metrolistmls.com the number of REOs on the market in EDH is 47, and about half of those are pending sale. Folsom has about 43, with many pending sale as well.

According to foreclosure.com, EDH has 96 total REOs, and Folsom has 85. This means about half the REOs are actually listed in the MLS, leaving a theoretical shadow inventory of one out of every two bank owned homes.

Below are some historical inventory levels of single family homes (does not include pending) gathered from Ziprealty.com, as well as the current number of NODs.

El Dorado Hills Inventory of Single Family Homes
2007 - 507
2008 - 433
2009 - 366
Current NODS - 267

Folsom Inventory of Single Family Homes
2007 - 400
2008 - 266
2009 - 292
Current NODS - 298

To sum, inventory is down almost 30%, from 2007. Total REOs are down 17% for EDH, and 26% for Folsom from last year, however NODs are way way up. NODs are 33% above their level last year at this time for Folsom, and a whopping 54% above for EDH.

Friday, August 14, 2009

Sometimes It's Good to Be Below Average

As I reported about a year ago, my family has been experiencing quite a bit of displacement in regards to employment (way above average). Last month, after a difficult search, my Aunt who lives in the Rosemont area, finally found employment.

And this week, I found out my cousin, who graduated UC Davis in December, has finally landed a job in the Bay area (he moved out a week ago).

So at this point, just about everyone who was looking for work has found it. I must say, for the first time, in a very long time, I am starting to feel downright hopeful (heck even my 401k has been resuscitated from its forsaken state of misery!).

I'm just praying this momentum is sustainable as opposed to a bounce along the way to the next leg down.

Monday, August 10, 2009

August 2009 Market Stress Update - El Dorado Hills & Folsom

At first I thought stress indicators might be leveling off....but, as of the last two weeks or so, they don't appear to be.

At this point, all the local homeowner/investors I figured would end up in foreclosure, are somewhere on the list. In some small way, I find this encouraging, as I am hoping most of the troubled mortgages have been recognized, and no longer lurk ahead.

Monday, August 3, 2009

The Spirit of Sacramento

While on a Southwest flight to San Diego, I browsed through their "spirit" magazine. They had a little fact sheet, based on Pew Research Center statistics. The survey asked Americans where they would like to move to.

I was shocked, by the results.....Sacramento made number 9! With 28% of Americans wanting to move here (sandwiched between Portland and San Antonio). At the top of the list was Denver, San Diego, Seattle.

A while back someone made a request for a list of "affordable social events for people on an average entertainment budget."

So here are several of my top picks that are free:

  • Second Saturday - Great way to spend an evening in MidTown.
  • Nimbus Fish Hatchery - Truly amazing to watch when the Salmon & Steelhead are spawning. The visitor center is very well done.
  • American River Trail - We recently parked at the Fish Hatchery and rode north on the trail past Lake Natoma, and then stopped for a bite to eat at Dos Coyotes.
My other favorite past time (before we had kids) was the 4th of July float down the American River. Although, from what I have heard, they have cracked down on drinking and floating. One year actually we made the local news with a makeshift pontoon boat, that had an American flag on it...the flag pole doubled as a beer bong.

Don't hesitate to list some of your favorites in the comments.