Believe it or not, this really is a good time to sell. The inventory is at record lows in the Sacramento area. There are more buyers than homes on the market, so homes are going very quickly. I am seeing 10 to 20 offers on homes within the first few days of the listing date. You might think this is only true for homes price at or below $300,000, but this is NOT the case. My partner and I had a listing in Roseville recently. The home was listed at $555,000. At the end of day two we had 20 offers, so we had to tell the buyers agents that we were not accepting any more offers. When we asked for everyone’s best and final offer, we received counters back at a higher offer price even though they may have already been above list price in the original offer! This home was not even a traditional sale, it was a short sale. Another agent in our office had the same thing happen recently with his listing in Loomis which was priced in the low $700,000’s.
If you have been contemplating selling your home, this is a great time to go for it. I am not sure how long this window of opporotunity will exist.
Feel free to contact me with any questions. I would be happy to provide you with a complimentary Compartive Market Analysis on your home.
Better Homes & Gardens Real Estate
925 Highland Pointe Drive #140
Roseville, CA 95678
CalHAFA expanded eligibility criteria of $2 billion for the Keep Your Home California Program to allow more homeowners to qualify this year to avoid additional foreclosures.
This program was designed for low or moderate income levels. The income limits for Sacramento, Placer and El Dorado Counties are $87,700. For other counties, check the Keep Your Home California website.
The following are brief summaries of the programs available under Keep Your Home California. To see full program descriptions, click on the program name below.
Unemployment Mortgage Assistance Program (UMA) – Intended to assist homeowners who have experienced involuntary job loss. UMA will provide temporary financial assistance in the form of a mortgage payment subsidy of varying size and term to unemployed homeowners who wish to remain in their homes but are in imminent danger of foreclosure due to short-term financial problems. These funds can provide up to six months of benefits with a monthly benefit of up to $3,000 or 100% of the existing total monthly mortgage, whichever is less.
Mortgage Reinstatement Assistance Program (MRAP) – Intended to assist homeowners who have fallen behind on their mortgage payments due to a temporary change in a household circumstance. MRAP will provide limited financial assistance in the form of funds to reinstate mortgage loans that are in arrears in order to prevent potential foreclosures. These funds can provide benefits of up to $15,000 per household.
Principal Reduction Program (PRP) – Intended to assist homeowners at risk of default because of an economic hardship coupled with a severe decline in the home’s value. PRP will provide capital to reduce outstanding principal balances of qualifying borrowers with negative equity. Principal balances will be reduced in an effort to prevent avoidable foreclosures and promote sustainable homeownership. The principal reduction program will most likely be a prelude to loan modification. (Servicers that contribute through matching funds increase the benefit for homeowners).
Transition Assistance Program (TAP) – Intended to promote community stabilization by providing homeowners with relocation assistance when it is determined that they can no longer afford their home. TAP will be used in conjunction with a servicer-approved short sale or deed-in-lieu of foreclosure program in order to help homeowners transition into stable and affordable housing. Homeowners will be responsible to occupy and maintain the property until the home is sold or returned to the servicer as negotiated. Funds will be available on a one-time only basis.
For more information, go to the Keep Your Home California website:
Posted by: Sheri Negri