From the category archives:

Community

Movie in Fremont Park Sept. 19

by Brandon on August 24, 2008

[via Friends of Fremont Park]

Celebrate CADA’s 30th Anniversary and the Revival of Fremont Park!

Join the Capitol Area Development Authority (CADA), Councilman Rob Fong, the City of Sacramento Parks & Recreation, and Local 522 of Sacramento Area Fire Fighters on Friday, September 19, 2008 from 5pm to 9:45pm for food, live entertainment and Disney’s movie, “Enchanted.” Fremont Park is located at 16th and P Streets and the public is encouraged to walk to the event or utilize the free bike valet provided by Sacramento Area Bicycle Advocates (SABA).

Avoid the commute and enjoy barbequed hamburgers and hot dogs starting at 5pm! Bring a lawn chair or blanket for the movie, but come early as the seating area is limited to 200 people. Admission is free and the movie is anticipated to start at dusk (around 7:30pm).There will be a bounce house, balloon artist, face painter, carnival games and free fingerprinting for the children.

For more information about CADA’s 30th Anniversary, contact Karen Fleming, CADA Communications Administrator at (916) 322-2114 or (916)384-7210.

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Wanna Get Muddy?

by Brandon on August 21, 2008

Saturday morning, my boy and I will be getting muddy with our friends from LJ Urban at GOOD.

From their website:

On Saturday, August 23 Brian from Urban Earth Solutions is going
to be teaching a class at the Good project on how to build earth
structures. On the site there are three big oak trees and under
them we are going to build benches in the plaza that are made
out of earth bags as the core and then surrounded with cob
and earthen plaster. How fun does that sound?

When: Saturday August 23rd from 9AM - 2 ish
Where: GOOD - 5th and B Streets in West Sacramento
Cost: $10 Per person
Food: Lunch included

If you have been looking for a place to throw some mud around
then this is the class for you. There are only a limited number of
spaces available and they are going to fill up fast so be sure to
get your spot by emailing Steve@LJUrban.com.

They are actually almost full, so contact Steve at the address above as soon as possible.  It’s sure to be a good time!

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Are YOU Going to the California State Fair?

by Brandon on August 21, 2008

Every year at about this time there is a debate in our family: to go or not to go. Since both my wife and I have a tendency to be contrarians, you never can tell which side of the debate each of us will be on.

There are definitely some cool things at the fair, including the animals, exhibits and, yes, even the rides. It’s just what you have to endure as well: the heat, the crowds, the prices, the heat, the crowds, and, oh, did I mention the heat? Last year we successfully fought the urge (yeah, you heard it right, I won). This year, however, we have been invited by some good friends (by the way, good company always limits the risk of misery). Don’t try to reach me tomorrow morning. I will be there.

So what about you? Are you going this year? What are your overall thoughts on fair?

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Educational Town Hall Meetings

by Brandon on August 20, 2008

Please don’t ever expect to find an endorsement of any politician on this blog. I strive to limit myself solely to mockery.

That being said, I am a big fan of town hall meetings and, with a 5 year old and a baby on the way, I am extremely interested in the future of education in Sacramento. Mayoral candidate Kevin Johnson (I think he was also a professional athlete once… table tennis?), and California’s top educator, Superintendent of Public Instruction Jack O’Connell, will be holding town hall meetings, the first of which was held earlier tonight in Oak Park.  There will be more (8/29 – North Sacramento; 9/3 – East Sacramento; 9/9 – Land Park; 9/18 – Natomas; 9/26 – Elmhurst/Tahoe Park; 10/8 – The Pocket; 10/28 – Meadowview). It should be a good opportunity to have your voice heard, whatever your political beliefs (as well, I am sure, a commercial for the candidate).

Again, this is not an endorsement and if you know of any similar events that Johnson’s opponent, Heather Fargo, is holding, please let me know and I will make sure to post it. And if any of you go (or went earlier this evening), please leave a comment.

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Sacramento County Residents Urged to Immediately Cut Water Consumption

by Brandon on August 16, 2008

The Sacramento County Water Agency has requested that those of us it serves (about 60,000 of us located between Rancho Cordova and Elk Grove) immediately cut our water usage due to reduced reserves and reduced water flow from the American River as a result of the current drought.  Folsom Lake (from which we get 10% of our water) will be depleted by nearly 25%.  The agency is requesting that we cut our usage by at least 10%.

There are a number of ways that we can conserve water usage in our homes.  

Water Saving Techniques (Inside):

  1. Never put water down the drain when there may be another use for it such as watering a plant or garden, or cleaning.
  2. Verify that your home is leak-free, because many homes have hidden water leaks. Read your water meter before and after a two-hour period when no water is being used. If the meter does not read exactly the same, there is a leak.
  3. Repair dripping faucets by replacing washers. If your faucet is dripping at the rate of one drop per second, you can expect to waste 2,700 gallons per year which will add to the cost of water and sewer utilities, or strain your septic system.
  4. Check for toilet tank leaks by adding food coloring to the tank. If the toilet is leaking, color will appear within 30 minutes. Check the toilet for worn out, corroded or bent parts. Most replacement parts are inexpensive, readily available and easily installed. (Flush as soon as test is done, since food coloring may stain tank.)
  5. Avoid flushing the toilet unnecessarily. Dispose of tissues, insects and other such waste in the trash rather than the toilet.
  6. Take shorter showers. Replace you showerhead with an ultra-low-flow version. Some units are available that allow you to cut off the flow without adjusting the water temperature knobs.
  7. Use the minimum amount of water needed for a bath by closing the drain first and filling the tub only 1/3 full. Stopper tub before turning water. The initial burst of cold water can be warmed by adding hot water later.
  8. Don’t let water run while shaving or washing your face. Brush your teeth first while waiting for water to get hot, then wash or shave after filling the basin.
  9. Retrofit all wasteful household faucets by installing aerators with flow restrictors.
  10. Operate automatic dishwashers and clothes washers only when they are fully loaded or properly set the water level for the size of load you are using.
  11. When washing dishes by hand, fill one sink or basin with soapy water. Quickly rinse under a slow-moving stream from the faucet.
  12. Store drinking water in the refrigerator rather than letting the tap run every time you want a cool glass of water.
  13. Do not use running water to thaw meat or other frozen foods. Defrost food overnight in the refrigerator or by using the defrost setting on your microwave.
  14. Kitchen sink disposals require lots of water to operate properly. Start a compost pile as an alternate method of disposing food waste instead of using a garbage disposal. Garbage disposals also can add 50% to the volume of solids in a septic tank which can lead to malfunctions and maintenance problems.
  15. Consider installing an instant water heater on your kitchen sink so you don’t have to let the water run while it heats up. This will reduce heating costs for your household.
  16. . Insulate your water pipes. You’ll get hot water faster plus avoid wasting water while it heats up.
  17. Never install a water-to-air heat pump or air-conditioning system. Air-to-air models are just as efficient and do not waste water.
  18. Install water softening systems only when necessary. Save water and salt by running the minimum amount of regenerations necessary to maintain water softness. Turn softeners off while on vacation.
  19. Check your pump. If you have a well at your home, listen to see if the pump kicks on and off while the water is not in use. If it does, you have a leak.
  20. When adjusting water temperatures, instead of turning water flow up, try turning it down. If the water is too hot or cold, turn the offender down rather than increasing water flow to balance the temperatures.
  21. If the toilet flush handle frequently sticks in the flush position, letting water run constantly, replace or adjust it.

Water Saving Techniques (Outside):

  1. Don’t over water your lawn. As a general rule, lawns only need watering every 5 to 7 days in the summer and every 10 to 14 days in the winter. A hearty rain eliminates the need for watering for as long as two weeks. Plant it smart, Xeriscape. Xeriscape landscaping is a great way to design, install and maintain both your plantings and irrigation system that will save you time, money and water. For your free copy of “Plant it Smart,” an easy-to-use guide to Xeriscape landscaping, contact your Water Management District.
  2. Water lawns during the early morning hours when temperatures and wind speed are the lowest. This reduces losses from evaporation.
  3. Don’t water your street, driveway or sidewalk. Position your sprinklers so that your water lands on the lawn and shrubs … not the paved areas.
  4. Install sprinklers that are the most water-efficient for each use. Micro and drip irrigation and soaker hoses are examples of water-efficient methods of irrigation.
  5. Regularly check sprinkler systems and timing devices to be sure they are operating properly. It is now the law that “anyone who purchases and installs an automatic lawn sprinkler system MUST install a rain sensor device or switch which will override the irrigation cycle of the sprinkler system when adequate rainfall has occurred.” To retrofit your existing system, contact an irrigation professional for more information.
  6. Raise the lawn mower blade to at least three inches. A lawn cut higher encourages grass roots to grow deeper, shades the root system and holds soil moisture better than a closely-clipped lawn.
  7. Avoid over fertilizing your lawn. The application of fertilizers increases the need for water. Apply fertilizers which contain slow-release, water-insoluble forms of nitrogen.
  8. Mulch to retain moisture in the soil. Mulching also helps to control weeds that compete with pants for water.
  9. Plant native and/or drought-tolerant grasses, ground covers, shrubs and trees. Once established, they do not need to be watered as frequently and they usually will survive a dry period without any watering. Group plans together based on similar water needs.
  10. Do not hose down your driveway or sidewalk. Use a broom to clean leaves and other debris from these areas. Using a hose to clean a driveway can waste hundreds of gallons of water.
  11. Outfit your hose with a shut-off nozzle which can be adjusted down to fine spray so that water flows only as needed. When finished, “Turn it Off” at the faucet instead of at the nozzle to avoid leaks.
  12. Use hose washers between spigots and water hoses to eliminate leaks.
  13. Do not leave sprinklers or hoses unattended. Your garden hoses can pour out 600 gallons or more in only a few hours, so don’t leave the sprinkler running all day. Use a kitchen timer to remind yourself to turn it off.
  14. Check all hoses, connectors and spigots regularly.
  15. Consider using a commercial car wash that recycles water. If you wash your own car, park on the grass to do so.
  16. Avoid the installation of ornamental water features (such as fountains) unless the water is recycled. Locate where there are mineral losses due to evaporation and wind drift.
  17. If you have a swimming pool, consider a new water-saving pool filter. A single back flushing with a traditional filter uses from l80 to 250 gallons or more of water.

General Water Saving Techniques:

  1. Create an awareness of the need for water conservation among your children. Avoid the purchase of recreational water toys which require a constant stream of water.
  2. Be aware of and follow all water conservation and water shortage rules and restrictions which may be in effect in your area.
  3. Encourage your employer to promote water conservation at the workplace. Suggest that water conservation be put in the employee orientation manual and training program.
  4. Patronize businesses which practice and promote water conservation.
  5. Report all significant water losses (broken pipes, open hydrants, errant sprinklers, abandoned free-flowing wells, etc.) to the property owner, local authorities or your Water Management District.
  6. Encourage your school system and local government to help develop and promote a water conservation ethic among children and adults.
  7. Support projects that will lead to an increased use of reclaimed waste water for irrigation and other uses.
  8. Support efforts and programs to create a concern for water conservation among tourists and visitors to our state. Make sure your visitors understand the need for, and benefits of, water conservation.
  9. Encourage your friends and neighbors to be part of a water conscious community. Promote water conservation in community newsletters, on bulletin boards and by example.
  10. Conserve water because it is the right thing to do. Don’t waste water just because someone else is footing the bill such as when you are staying at a hotel.
  11. Try to do one thing each day that will result in a savings of water. Don’t worry if the savings is minimal. Every drop counts. And every person can make a difference. So tell your friends, neighbors and co-workers to “Turn it Off” and “Keep it Off”.

Techniques come via American Water Savers.

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The State of the Current Real Estate Market in Sacramento: July Sales Statistics, REOs, and Stuff

by Brandon on August 16, 2008

The current real estate market in Sacramento can be very confusing.  Sales continue to rise, but prices continue to fall.  The figures for July are in and seem to just add to the confusion.  But there is one very obvious reason that the market continues to confound: bank-owned foreclosure properties.

First, the good news.  According to the Sacramento Association of Realtors, the number of homes sold in July exceeded June’s sales by 5.1% and surpassed last July’s sales by 128%.  Even better, as each month’s sales continue to outpace the prior, inventories continue to fall.  At the end of July, there were 7880 homes on the market, down from 8414 just one month ago.  Prices, however, have continued to fall.  The Sacramento median sales price in July dropped to $216,500 from $220,000 in June.


So why are prices continuing to fall in the face of increased sales and decreased inventories?  One answer can be discovered by taking a closer look at July’s figures: Roughly 70% of all home sold this past month were foreclosed, or bank-owned, properties (REOs).  

An REO is a property that is “Real Estate Owned”.  Unlike traditional sellers, banks insist on selling their properties “as-is”.  This means that they are unwilling to make any repairs (much less do the simple cosmetic things) that can greatly increase the amount offered on the property.  By doing this, they rule out a majority of the buyers that are looking for a home in “move in condition”.  They also rule out many buyers who must make the purchase using special lending procedures (such as VA and FHA - It is important to note that FHA loans are quickly becoming the standard in the Sacramento region).  

There are naturally fewer buyers competing for such properties.  This, combined with the pressure for banks to unload properties, means that many of these properties are selling for as little as 50% of market value. Which, in turn, deflates the overall market when such a great majority of the properties are bank-owned.  

Homes, then, that are not bank owned should be selling for much more, right?  Well, one would think so. But imagine that your house (which might normally sell for $400,000) is sitting next door to a distressed house that the bank just unloaded for $230,000.  Any buyer’s agent worth their salt will inform the buyers of the sale, which would understandably make the buyer more nervous to make an offer and would most certainly affect the amount offered.

While there might not be a lot of good news here for people that are in a position in which they must sell, there is quite a bit of good news for home buyers.  There continues to be good signs of a market turn around, interest rates are still near historic lows, and there are great deals to be had (especially if you are willing to purchase REOs).

It is also important to note that though we are constantly inundated with news of a market in peril here in Sacramento (region prices have fallen nearly 30%), the story in and near the city’s urban core is substantially different.  You have heard that all real estate is local.  I would argue that in Sacramento, all real estate is “hyper-local”.  I will be following up this post with an in depth look at the figures for the neighborhoods in and around the central city, which have been considerably less affected by the current mortgage meltdown (and consequent foreclosures).  You just may be surprised by what you learn.

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Area home sales bounce back

by Brandon on May 21, 2008

From the Sacramento Bee:

Buyers are back.

Months of plummeting prices and droves of discounted, bank-owned properties turned April into one of the Sacramento region’s best months for home sales in nearly a year, DataQuick Information Systems reported Monday.

Three counties – Sacramento, Sutter and Yuba – broke out of an entrenched sales slump, posting more home purchases than in April 2007.

It was the first time sales had broken the 3,000 barrier since June 2007 in Amador, El Dorado, Nevada, Placer, Sacramento, Sutter, Yolo and Yuba counties combined, according to La Jolla-based DataQuick. Overall, 3,163 homes closed escrow.

April also produced the first year-over-year sales gains in Sacramento County in 37 months.

The numbers confirm what many in the real estate industry have been saying in recent weeks: There’s been a spate of buying. And, sellers are getting multiple offers for discounted properties, especially those owned by banks due to foreclosure.

What’s driving the buying spree? Prices, primarily, which have dropped as much as one-third in the past year and are still falling as banks aggressively price thousands of bank repos.

It’s also become easier to get financing, especially for those with good credit.

Who are the buyers? They are “entry-level (buyers), investors and some ‘normal’ buyers who have been fence sitters,” said Randy Dunham, a Gold River-based real estate agent with ReMax Gold. “Everybody’s trying to pick the bottom.”

Price is motivating many who had held back.

“There are people with a lot of money who didn’t buy houses two and three years ago,” said Carlos Kozlowski, a Sacramento-based Coldwell Banker real estate agent. “Now prices are back to 2003 and 2004 levels. (It’s) irresistible.”

Meanwhile, for-sale inventory in El Dorado, Placer, Sacramento and Yolo counties fell for an eighth straight month as buyers gobbled up bank foreclosures and would-be sellers continued to wait for prices to improve.

Even so, with 12,000-plus “For Sale” signs in the region, the market hasn’t yet reached bottom, said ReMax’s Dunham.

At month’s end there were 12,606 homes for sale in El Dorado, Placer, Sacramento and Yolo counties, according to Sacramento-based researcher TrendGraphix. The peak in August 2007 was 16,262.

While falling prices have made happy hunting for buyers, it’s grueling for sellers who have to compete with discounted bank repos.

“It was a terrible market,” said Sacramentan Roy Amerine, who closed escrow in April on his Campus Commons residence, which had been on the market since January.

“We started at about $360,000 or $380,000, and made several drops of either $10,000 or $20,000,” he said, before selling for $310,000. “I was relieved, finally, to sell the property. It was just real stressful.”

In Sacramento County, sales of new and existing homes totaled 1,961 in April, the highest since September 2006, according to DataQuick.

The tally was 26.3 percent higher than April 2007 – the first time year-over-year sales had gained since March 2005, DataQuick reported. Yuba County posted a 23.3 percent year-over-year gain, its first in several years. Sutter County posted a 1.1 percent gain, its first in almost a year.

Elsewhere, sales were slower. Yolo County’s tally of new and existing home sales was down about 1.1 percent from the period last year – after mostly double-digit monthly declines since the region’s housing boom began losing steam in late 2005.

Sales in Placer County remained 8.5 percent below April 2007, according to DataQuick.

Median sales prices – where half the homes sell for more and half for less – are down year over year in the eight counties, ranging from 6.2 percent in Nevada County to Sacramento County’s 32.1 percent. Sacramento’s median sales price in April fell to $232,000 – 40 percent off its August 2005 high of $387,000.

The Sacramento Association of Realtors reported that a third of all sales in April in the county and the city of West Sacramento were for homes priced below $200,000.

“Borrowers are more cautious about what they can afford,” said Michele Dillingham, a senior loan consultant at Sacramento-based Vitek Mortgage. “A lot of people are buying at below what they would qualify for. They saw what happened (with foreclosures) and don’t want it to happen to them.”

Placer County’s median price in April was $352,000 – roughly equal to the median back in October 2003, according to DataQuick. Prices for new and existing homes combined in Placer County are down nearly 22 percent from a year ago and down about one-third from an August 2005 high of $525,000.

Only about 3 percent of sales in the suburban county were for homes below $200,000, according to the Placer County Association of Realtors.

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Sacramento County sees slowdown in housing slide

by Brandon on March 27, 2008

From the Sacramento Bee:

The Sacramento-area housing market is still declining, but a surge of buying by investors in February helped spark the first major slowdown in Sacramento County’s long slide since 2005, DataQuick Information Systems reported Thursday.

February sales of new and existing homes in Sacramento County – the largest sector of the region’s real estate market – fell just 7.7 percent from February 2007, the La Jolla firm said. That’s the first single-digit decline in year-over-year home sales in Sacramento County since August 2005.

Likewise, the 1,015 existing Sacramento County homes that closed escrow in February were only six fewer than in February 2007. It was the first time in at least two years that year-over-year sales didn’t fall by double-digit percentages

DataQuick officials attributed the change partly to more investors buying foreclosed homes.

Investors who have been holding off have decided “to swoop down and grab what they perceive as a bargain,” said DataQuick analyst Andrew LePage. “That’s a natural part of the real estate ecosystem.”

But experts warn not to bet that the worst is over based on only one month’s data. February tends to be a slower winter month that is considered unreliable for trend-spotting.

Still, there’s no doubt the steep drop in home values – median prices in Sacramento County are almost 28 percent below last year’s figures – and relatively low interest rates have sparked interest.

LePage said investor buys accounted for 18.6 percent of February closings in Sacramento County. That’s up significantly from 12.7 percent in November and December. DataQuick counts investment homes as those where the property tax bill goes to an address different from the purchase site.

DataQuick said that median sales prices rose slightly in February from the previous month in five counties: Amador, Nevada, Placer, Sacramento and Yolo counties.

Overall, sales remained weak, though real estate broker Tom Zipp of Citrus Heights said Thursday that rising investor activity “traditionally signals the bottom part of the market.”

Closed escrows for new and existing homes in Sacramento County clung to a 10-year low for February, DataQuick reported. Placer County sales remained at an 11-year low.

Regionally, the 2,061 escrow closings in Amador, El Dorado, Nevada, Placer, Sacramento, Yolo and Yuba counties barely outpaced February’s 1,713 foreclosures, according to Fair Oaks-based Foreclosures.com. Sutter County sales figures were not available.

Those figures reflect a nationwide trend. Irvine-based researcher RealtyTrac reported Thursday that nearly 60 percent more U.S. homes faced foreclosure in February than in the same month last year, with Nevada, California and Florida showing the highest foreclosure rates. The overall U.S. foreclosure rate last month was one filing for every 557 homes.

Locally, LePage said first-time buyers are helping “set a floor” in the region’s most distressed areas for home sales and prices.

“They’re able to buy a house with safe and sane financing and a small down payment,” he said.

In Sacramento County only home builders saw a continued big decline in escrow closings. Builders, who are fighting for market share against the increasing dominance of banks selling their foreclosed homes, reported a 32.2 percent drop in closings in February compared with the same time last year.

Other highlights:

• Sacramento County showed a February median sales price of $257,000. That was down 27.7 percent from a year ago. But it was up from $253,000 in January. The median price is the point at which half sell for more and half sell for less.

• Placer County reported a 30.7 percent drop in sales of new and existing homes in February compared with the same time in 2007. Its $364,000 median sales price was down 15.3 percent from February 2007. But it was up from $360,500 in January.

• El Dorado County sales were down 25.3 percent from the same month in 2007. Its $405,000 median sales price for new and existing homes was 15.6 percent below a year earlier. Sales prices were down slightly from $407,500 in January.

• Yolo County’s February sales were down 27.2 percent from the same time a year ago. Its $318,000 median sales price was down 19.5 percent from a year earlier, but up from $307,500 in January.

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