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Archive for January, 2010

6502 Crosswoods Cir, Citrus Heights, is for sale!

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Lovely wooded setting for this bright and airy end unit condo, conveniently located in the popular Crosswoods subdivision. Backs to trails and greenbelt area, very quiet and private, with nice, large deck for relaxing or entertaining. Lovingly maintained and move-in ready. HOA maintains roof and exterior. 3 community pools and walking trails. This is a place to call home! Not an REO or short sale.

For more information or a private showing, call me at 530-305-8409, or email me at ncrider@kw.com.

303 Katherine Way in Auburn CA is For Sale!

">/0.jpg" alt="YouTube Preview Image" />Great location for this turn-key, bright and cozy home in Auburn, CA!

This sunny & delightful home is just a block from the rear entrance of Skyridge School, in a lovely, quiet neighborhood, perfect for walking the dog, just a 5-minute walk to canyon trails. On a large, flat corner lot with a spacious backyard, w/RV parking, this home has been lovingly maintained, ready to move right in! Great school district, close to shopping, Saturday Farmer’s Market, Gold Country Fairgrounds, Old Town, & all our wonderful Auburn has to offer. This is a place to call home! 

Call me to see this property at (530) 305-8409, or email  me at ncrider@kw.com.

History abounds in Auburn, CA – The Placer County Courthouse

Written by Lonnie Crider   

Anyone who has travelled the Highway 80 corridor over the years couldn’t possibly help but notice the shining dome of the beautiful Placer County Courthouse which stands like a proud gatekeeper to the city of Auburn.

As it turns out, this Historical Placer County icon, which was designated a National Historic Site in 1960, has a colorful history as do most court houses and historical government buildings throughout the historic “Gold Country.”

As is the case with many early communities, the grounds on which this building was constructed attracted major activities of the early populace of Auburn due to its popularity and location next to established transportation routes. The hilltop where the present courthouse stands was once the site of bull and bear fights as well as public hangings, all of which were popular spectator sports in the early days of California!

An 1851 California Legislative Act organized the state into counties, at which time the County of Placer was formed, and Auburn was designated the county seat. At that time, a small structure made of wood and canvas was constructed where the court hearings of the Honorable Judge Hugh Fitz Simmons were conducted. Next to it was a jail constructed of logs, a common practice in early California history in which burgeoning communities had little or no infrastructure funds.

The next year, the contract to build a more permanent structure was awarded to Mr. Isaac Tidd for the sum of $16,000. The new 2 story wooden courthouse was completed in 1853 and housed courtrooms, as well as various county offices. The jail remained annexed next to the courthouse until 1855 when Auburn suffered its first major fire. Fortunately the courthouse was saved, however the jail was destroyed. A new separate jail was built.

Over the next 40 years the wooden 2 story courthouse and jail were refurbished on several occasions, but eventually became obsolete due to lack of space caused by growing activities in the courts, jails and recording offices.

In 1891, Placer County released a bid award to John M. Curtis to build a new 3 story masonry building similar to the ones he had designed and built for San Francisco, Santa Cruz and Sonoma County. The finished cost for the project would total a staggering $172,583, a large commitment of public funds at that time.

The old courthouse had to be moved to make way for the new structure so it was put on rollers and moved over to one side while construction commenced. The old wooden building was finally destroyed in 1897.

The new courthouse, which included a jail and hall of records, was constructed in sections. The first section was completed in 1894, with subsequent sections completed and dedicated with great fanfare on July 4, 1898. The “modern” Courthouse was now home not only to the court system but to the Sheriffs office, Agricultural Commission, Treasurer, Auditor, District Attorney, Recorder, Tax Collector and Superintendant of Schools……a truly integrated county facility of its day.

The old replacement 300 lb. steel bell, which had travelled around the Cape Horn in 1859 (the old one in the original wooden building had been cracked and put forth “mournful sounds”) was placed in the new building and served as a the community communication method, announcing important court activities, as well as a call to firefighters, and for the celebration of holidays and social events.

The water fountain in the center of the planter at the entrance of the parking lot was donated in 1908 and was moved to that location in 1976. The first elevator was installed in 1946 for a whopping $14,000!

During the pre-World War II years, the courthouse experienced further growth needs. In 1959, after a few decades of radical post-war growth in California and Placer County, property was purchased and facilities built in close proximity, while ancillary non-court functions migrated to larger and more modern facilities.

Shortly after the declaration of the courthouse as a Historical site in 1960, those who were saddled with the practical task of dealing with crowding in the old courthouse proposed that the courthouse be abandoned, and even leveled, as a way to relieve the county of growing maintenance, preservation and modernization responsibilities.

Public opinion was drastically opposed to such a plan and, as a compromise, the Courthouse was designated for judicial purposes only, and the efforts to acquire local adjacent land and relocate ancillary government functions accelerated.

In 1982, a group of citizens formed the “Placer County Committee to Preserve the Courthouse for Courts,” and through grants and outside donations amassed over $3 million. This, coupled with additional funding, led to its first modern day restoration project which lasted from 1986 to 1990.

An additional cosmetic and parking facilities improvement and restoration was completed in 2009, and although the new modern Bill Santucci Justice Center is now open in Roseville, the Auburn Courthouse still functions as a Placer County annex Court facility to this day.

The great news is not only is the “Old Courthouse,” as the locals refer to it, still vital and active, it also houses one of the most complete and interesting museums. A great educational experience for both adults and children, the Museum Gallery, which once housed the jail, provides an overview of Placer County History. Included is a Native American art exhibit, an impressive gold collection inside the former treasurer’s office in the lower vault, and the original Sheriff’s Office has been restored with its 1800’s furnishings, and looks as if the Sheriff is about to walk into the office to collect a prisoner for a court appearance!

So treat yourself on your next excursion to the Gold Country! Take the Maple Street exit to 101 Maple Street, or schedule a group tour by calling (530) 889-6500. The museum is open from 10am-4:00 pm daily (closed holidays) and it is FREE!

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Market update January 8, 2010

What’s going on in the market? Scott Cooper of Big Valley Mortgage knows his stuff! Read on…

Rates

Conventional 30 Year 4.875%-5.125%
FHA/VA 30 Year 5.0%-5.25%
Jumbo Conventional 30 Year 5.125%-5.375%
Investor 30 Year 5.25%-5.50%

5 Reasons to Buy Now!

1) Tax Credit Going Away:

$8,000 for First Time Buyers & $6,500 for Move-Up Buyers
• Must be in contract by April 30th, 2010
• Must close by June 30, 2010

2) Rates Positioned to Rise

The Fed has stated that it is set to discontinue buying Mortgage-Backed Securities in March.  (Many Analysts expect Rates to increase over 1%)
Low Rates= Low Payments!

3) Sales Prices Still Low

With increased sales activity and low inventory, we are seeing many properties appraisal for more than the sale price.  In addition, the recession is officially over and the economy is in the beginning stages of recovering.  These are good indications of increased sales prices in the future.

4) Appraisal Ordering is Getting Tougher

HA is implementing an HVCC style appraisal ordering process. This means we will lose the benefit of picking the appraiser.

5) Continued Tightening in Underwriting:

As lending tightens buyers who qualify today, may not qualify tomorrow.

Current Underwriting Basics

• Minimum Credit Score to Buy – 620 FICO
• Foreclosure – Can buy after 3 years
• Chapter 7 Bankruptcy – Can buy 2 years after discharge
• Chapter 13 Bankruptcy – Can buy with 1 year clean payment history from date filed
• Short Sale – Can buy 2 years after a short sale with no lates in the year prior to the short sale
• Can buy 3 years after a short sale with lates in the year prior to the short sale

Bottom Line: If you’re paying at least $1,000 in Rent, you should own!

 

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Open Saturday, Jan 9th, 11-2 – 1470 El Camino Verde Drive, Lincoln CA

Killer Deal in Lincoln! 5 Bedroom, 4 bath, 3,566 square feet, built in 2007, turn-key perfection!

Please come on by tomorrow, Saturday, 1-9, between 11 and 2:00, and see this beautiful house! Call with questions or for directions at 530-305-8409.

See a video tour!

Stupid or broke?

A recent article in BusinessWeek made this bold statement in reference to fence-sitters in the current real estate market. Marc Roth’s statement makes us stop and take notice.

In 1986, my husband and I purchased a home just south of Tucson, Arizona, in the small rural town of Sahuarita. It was a purchase necessitated by a job transfer, and at that time, we paid right around 17% interested on our $90,000 home.

Why is now the right time to buy?

1. Interest rates are historically low, right around 5%.
2. Home prices have taken huge discounts, and are now showing signs of steadying. 
3. It is expected that interest rates will increase as the economy begins so stabilize.

I want to wait until prices drop further.

Let’s say you decide to wait for another 10% drop in home prices. Just a 1 point rise in interest rate on a typical 30-year-fixed loan will negate any benefit from that 10% price drop.

Roth states that for every quarter-point rise in interest, expect an increase of debt in the amount of $6,000 over the life of the loan for every $100,000 borrowed.

Here’s an example: You want to buy a $200,000 home with 20% (or $40,000) down. Over the course of this loan, each quarter-point increase in interest rate will cost you $12,000 over the life of the loan.

The bottom line is that if you are planning to buy a home now or in the near future, it’s wise to pay more attention to the interest rates than the price of the home.

Read more about the benefits of buying a home.

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Buy a Home in 2010

Are you a first-time homebuyer? Are you a homeowner considering purchasing an investment property? Either way, you are among a large group who are planning to buy a home in 2010.

A recent Move.com survey revealed that many Americans have “buying a home” as one of their top New Year’s Resolutions! 17.7% of Americans want to be come First Time Home Buyers and 15.7% are planning to purchase an Investment Property.

Here are the Top Four Reasons to buy now!

1. Record Low Interest Rates.

2. Record Low Home Prices.

3. Tax Credits for Home Buyers – through April 30, 2010.

4. Tax Benefits of Home Ownership over the long term.

Read more about the benefits of buying a home.

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