63% Decline in Foreclosures for Sacramento

Compared to November 2012, Sacramento has seen it’s foreclosure rates drop by 63%, according to a recent RealtyTrac report.

According to SacBee, RealtyTrac has reported that notices of default have fallen from 832 in November 2012 to 359 November 2013. Trustee sales have also seen a dramatic decrease from 1,108 in November 2012 to 320 in November 2013

Please read “Sacramento area foreclosures decline sharply” for the full story.

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What’s Sacramento Doing New Years Eve?

franky242 @ FreeDigitalPhotos.net

franky242 @ FreeDigitalPhotos.net

Looking for something to do New Years Eve in Sacramento? Something for the kids or for the adults only? Sacramento has a lot going on New Years Eve. Something for everybody’s budget.

Free Events

$ Events

  • New Year’s Even Reggae Reload – Legendary reggae artist Papa Michigan performing live and bringing in the New Year at Taste of Jamaica Restaurant. Doors open at 7pm and the party ends at 2am New Years day. $15 at the door. Follow link for event details.
  • A New Year’s Dance Party with Lovefool – 80s and 90s music performed live by Lovefool. Dance all night at Harlow’s. $25 – $30 at the door, 21 and over party. Doors open at 8pm.
  • New Year’s Eve! Goodbye 2013, Hello 2014! – The Park Ultra Lounge and Hot 103.5 will be having a New Years Eve celebration with balloons, confetti, streamers and music. 21 and over party. $35.
  • Mix Downtown New Year’s Eve 2014 – M!x Downtown is featuring DJ Eddie Edul for a night of music, complimentary party favors, confetti blast, and a midnight champagne toast. Also, watch the ball drop in New York City on HD plasma screens. $35
  • New Years Eve 2014 at Social Nightclub – 21 and up. $25.

$$-$$$ Events

Shared Fences and Boundaries: New Law Jan. 1, 2014

For landowners with properties that share fences and other boundaries there is a new law going into effect on January 1, 2014.

According to the new law, Assembly Bill 1404 (codified as Cal. Civil Code § 841), landowners share an equal benefit of fencing and are equally responsible for the cost of construction, maintenance, or replacement, unless otherwise agreed upon in writing.

30-day prior written notices to all affected adjoining landowners are required for any intent to incur costs regarding a fence. The notice must include:

  1. A notice of the presumption of equal responsibility for the reasonable costs of construction, maintenance, or necessary replacement of the fence
  2. A description of the nature of the problem with the shared fence
  3. The proposed solution for the problem
  4. The estimated construction or maintenance costs to address the problem
  5. The proposed cost sharing approach
  6. The proposed timeline for addressing the problem

An adjoining landowner can dispute the notice by demonstrating with evidence that imposing equal responsibility would be unjust. To determine if equal responsibility is unjust, the court considers:

  1. Whether the financial burden on one landowner is substantially disproportionate to the benefit conferred upon that landowner by the fence
  2. Whether the cost of the fence would exceed the difference in the value of the property before and after its installation
  3. Whether the financial burden to one landlord would impose an undue financial hardship given that party’s financial circumstances as demonstrated by reasonable proof
  4. The reasonableness of a particular construction or maintenance project, including the extent to which the costs appear to be unnecessary, excessive, or the result of one landowner’s personal aesthetic, architectural, or other preferences
  5. Any other equitable factors appropriate under the circumstance

This law does not apply to a city, county, political subdivision, public body, or public agency.

Free Online/Hotline Mortgage-Assistance Program in Sacramento

December 10th through December 12th 2013, from 8 am to 8 pm, homeowners can visit event.hopenow.com or call (888) 845-0418 “to connect with housing counselors and mortgage servicers who can access required documents for loan modifications, short sales and other mortgage options,” according to SacBee.com.

Homeowners will also have the opportunity to apply for the Keep Your Home California program, which is a “$2 billion state managed, federally funded foreclosure prevention program.”

Vendors scheduled to participate:

  • Chase
  • Citi
  • HSBC
  • Nationstar
  • Ocwen
  • PNC
  • Select Portfolio Servicing
  • Seterus
  • Sun Trust
  • Wells Fargo

If your mortgage is not held by any of the above vendors, you can still speak with a housing counselor. The program ends tomorrow so give them a call today.

Please read “Event aims to help at-risk homeowners in Sacramento area and throughout Central Valley” for details.

Remodeling in Sacramento on the rise

According to recent reports at Sacbee.com, homeowners are feeling more comfortable with “growing confidence in the economy, rising home equity and low interest rates.”

“In the city of Sacramento, permits for residential remodels and additions in excess of $50,000 increased from 97 in 2012 to 113 so far this year, said Ryan DeVore, the city’s chief building officer. The numbers were much higher in 2002 and 2003, during the first part of the housing boom last decade, when home equity was rising steeply. After a long drop-off, DeVore said his department is busier than it has been in years processing permits and performing inspections for all types of jobs.”

Please read “Remodels ramping up again in Sacramento area” for the full story.

 

The Chase Foreclosure Donation Program and Sacramento

Sacramento Business Journal

Sacramento Business Journal

Recently reported by the Sacramento Business Journal, “Chase donated 115 homes since 2009 through its Community Reinvestment Program, while such cities as Elk Grove, Rancho Cordova, Lincoln and North Highlands accounted for dozens more, 184 in all.”

The program essentially “turns over foreclosed homes to local agencies to fix them up and find people to live in them.”

Thus far, the program has improved neighborhoods, occupied foreclosures, and inspired other homeowners to “fix their own homes up,” according to Carrie Grip, executive director at Rebuilding Together Sacramento.

In addition, “the program also benefitted the new buyers because the homes wouldn’t require them to outlay hundreds or even thousands more dollars to bring them up to snuff,” as reported.

Please read “Chase foreclosure donation program big in Sacramento” for further details.