Garth Evans

Gold Country Media asks me to write articles for the Inside Lincoln Magazine and for the News Messenger every now and again. Here is one I wrote that gives an outline of a real estate transaction. I think it is important for buyers and sellers to have an  understanding of what goes on behind the scenes. There are a lot of phone calls, emails, coordination and time spent by good agents. It is more than just putting a sign out or writing an offer. This is still oversimplified but gives an idea of what happens:

Road Map to a Real Estate Transaction

Some buyers and sellers really aren’t interested in the details of what goes on during a real estate transaction. Others want to be very involved and want to know all the inner workings of a deal. There are some real estate agents that would rather keep their clients in the dark, but it is important for both buyers and sellers to be educated regarding the process. This article will give you a quick outline of what you may expect during a real estate transaction.

1)      Listing agreement and preparation for market. Seller will meet with the agent they have chosen and sign a listing agreement that clearly shows the price the property will be listed at and the term of the agreement. The agent should make recommendations about how to make the property more marketable. Pictures will be taken and other marketing will be prepared. Video tours are becoming more popular for the higher price range.

2)      Showing the property. The listing agent and other buyer agents will show the property. It makes it much easier to show if the property has a lockbox and the owners aren’t present at the time of showing.

3)      The Contract. The buyer agent will meet with their buyer after showing the property. It is not uncommon for a potential buyer to look at the home more than once. The agent should give advice about actual value of the property. The list price may be higher or lower than the comparable sales and the agent should show the buyer some of the past sales in the neighborhood. The buyer must be preapproved and the agent should work with the buyer and their loan officer to formulate the offer. The listing agent will go over the offer with the seller and either accept, counter or reject the offer.

4)      Once an offer is accepted it becomes a contract. At this point, a lot of things happen simultaneously. Escrow is opened with a title company; the preliminary title report and a natural hazard disclosure are ordered. The buyer’s earnest money deposit is submitted to escrow and inspections are scheduled. The seller will fill out disclosures with their agent and the buyer will be able to review them. The inspections may include a pest inspection and a whole house inspection. Depending on the property you may want to do a well test, septic pumping, pool inspection, roof certification or other tests under the advice of the agent.  At the same time the loan officer will be asking the buyer for updated documentation, order an appraisal and be working to package the loan for underwriting.

5)      Contingency removal. This is an important step in the transaction. There is a set time for the buyers to do all their inspections, review the disclosures, get the appraisal and have the loan approved. In most transactions the period is 17 days, but lately some sellers require that the period is tightened up to 10 days or less. The buyer’s agent will have a form that will need to be filled out that indicates everything is in place and the buyer is ready to move forward to close the deal. In a regular transaction, there may be a request for repairs that should be worked out prior to contingency removal.

6)      Final walk-through and signing. The buyer will do a final walk-through within 5 days of the close of escrow to make sure the property is in the same physical condition as when they made the offer. They will check to see if all of the agreed upon repairs have been done. Both buyer and seller will have appointments set with the title company to sign all the final transfer documents. The buyer package will be larger as it will include their loan documents as well. Buyer will bring in their down payment money and after the documents are signed, the title company will request funds from the lender and then send the transfer deed to the county to record. Upon recording confirmation, the title company will notify the agents and the buyer will get the keys.

This is just a general outline and simplification of what should happen during your transaction. Every transaction is different and each has challenges that will need to be met and overcome. It is important that you have a good agent that is aware of the timelines and has good communication with the parties involved. As a buyer or seller you may not be aware of all the work that goes on behind the scenes. Contact a professional agent in your area to work for you in making your transactions seem easy.

See how Garth does business in Lincoln…

4200 Monteverde Drive, Lincoln, CA 95648

Elegant and luxurious, this home is designed with entertaining in mind! Situated on a choice cul-de-sac lot in prestigious Catta Verdera, you’ll feel like you are at the resort. At over 5800 sf, this home includes 6 bedrooms, 5 baths, a home theater room, loft, separate formal rooms and finished garages. The gourmet kitchen features Viking appliances, granite slab countertops, top of the line cabinets & full butler’s pantry with prep sink and extra dishwasher. You’ll be impressed with the way the rest of the home wraps itself around the dramatic circular formal dining room. Just off the dining room, enjoy the open feel as the french doors lead to the expansive, exposed aggregate courtyard. Spend time cooking at the outdoor kitchen or unwinding with friends and family in the heated pool. Rinse off in the outdoor shower before you take a dip and take a nap afterward in the private pool house. Everything has been done to a higher standard! The Caribbean Blue Pebbletech bottom pool includes removable fencing, a built-in spa with spillway, rock waterfall and other water features. The manicured, private yard feels more like a park with flagstone walkways, stylish fountain, citrus orchard and a variety of trees and shrubs.  Every aspect of this home highlights the attention to detail. The custom accents of the inlaid medallion mosaic, the old-world stone style fireplace mantels and the unique lighting fixtures add interest in each room. Throughout the home there are numerous functional upgrades including surround sound, central vacuum, security system with camera capability, fire sprinklers and a tankless hotwater heater. This home is truly a masterpiece!

Watch the Video Tour on this one: http://www.youtube.com/watch?v=93VtbbehRMo&feature=related

Call for a complete list of upgrades and to schedule a private tour.

4141 Monteverde Drive, Lincoln, CA 95648

NOT A SHORT SALE OR BANK-OWNED! QUICK RESPONSE AND QUICK CLOSE!

This beautiful home in the gated Catta Verdera Community is located at the end of a cul-de-sac and has amazing 180 degree views overlooking the golf course! Appointed with the finest amenities and upgrades, you will be impressed with the interior every bit as much as the gorgeous views. The exquisite kitchen includes granite slab countertops, rich mahogany cabinets, professional grade stainless Thermador appliances and marble limestone flooring. Enjoy looking out to nature from the many panoramic arched windows of the bright kitchen nook.  This home has a wonderful floor plan with a ground level master, formal living and dining rooms, spacious guest room, tech/library area, bonus room and 4 additional bedrooms (3 with balcony access). The generous master opens to the back yard and includes an impressive master bath with a jetted tub, split vanity with overmount designer basin sinks and a large shower. Relax and enjoy sunsets and the soothing sound of the babbling brook from the full length balcony or extensive patio. The oversized 4 car garage is completely finished with double garage door opener and epoxy floors.  Other upgrades include surround sound, extended fireplace hearth and custom mantels, imperfect smooth walls with custom paint, premium carpet, inlaid stone medallion mosaic and detailed transitions, central vacuum and so much more. From the stunning views to the magnificent upgrades, this home is a once in a lifetime opportunity.

To see the Video Tour on YouTube, click on the following link:

http://www.youtube.com/watch?v=cTD5WC1ECtA

Call today for a full list of upgrades and to request a private showing.

Spring seems to be here and with the nice weather last week,  there has been quite a lot of real esate activity. Last week we signed listing agreements with 3 couples that have asked us to sell their homes. All three are under $200,000 and in great condition. Here are the details:

2002 Rickenbacker Lane

2002 Rickenbacker Lane, Lincoln, CA 95648-Well designed floor plan at Lakeside in Lincoln. You’ll love the open feel of the kitchen and family room areas. Warm, neutral paint colors, tile counter with extended backsplash, built-in microwave, alarm system and much more! Full back yard landscaping with stamped concrete patio, mow curb and auto sprinklers. Located in a nice new, friendly neighborhood and just down the street from a park. Close to schools and community sports fields. Listed at $179,999, all offers will be considered.

222 D Street

222 D Street, Lincoln, CA 95648-A recent remodel on this cute bungalow in downtown Lincoln makes it move-in ready! Hardwood flooring, carpet, custom paint, central heat and air, crown molding, wainscoting, and more. You’ll love the bright and spacious kitchen with oak cabinets, white appliances, tile flooring, gas cooktop and decorative tile countertops. Great location close to McBean Park. This home also has a detached garage with alley access and an inviting front porch. Great price and perfect for the first-time homebuyer. Listed at only $109,999.

1300 Hudson Circle

1300 Hudson Circle, Lincoln, CA 95648-Move in ready! This richly appointed home is located close to schools and parks and has all the right upgrades. Granite counter tops, stainless appliances, gorgeous cherry wood cabinets and so much more. You’ll love the spacious master and functional floorplan. Other features include upstairs laundry and finished garage with epoxy floors. Don’t delay, own a home with a lower monthly payment than rent! Listed at only $149,999

Call or email today if you have any questions about any of these homes. 916 408-2222.

6900 sf Custom Home in Catta Verdera-now only $1,132,900

Well, let me preface this by saying what I say right now might not apply 10 days or 10 minutes from now. The real estate market is ever changing. There are numerous variables that will cause price shifts, movement in supply and demand and the overall “mood” of the market. Some of these variables can affect the market nationwide (interest rates, govt. stimulus etc.) and others affect Lincoln or even just parts of the city.

This being said, here is my simple take on the market today:

1) rates are extremely low and many buyers that have been looking for a while are realizing their “buying power” has increased. They qualify for a higher loan amount. Even with the lower rates we haven’t seen the price increases that usually go hand in hand. Buyer power has truly increased.

2) the low rates haven’t stimulated the housing market overall like the government hoped. However, in Lincoln, we still have a shortage of properties that can be closed in 30 or so days (non shortsale). Most buyers want to close quickly and a lot of the regular or bank-owned properties sell fast. I did see a bit of a lag in the market the last couple weeks but things are picking up again. I attribute the slow down to ”back to school”.

3)prices in Lincoln Crossing and West Lincoln seem to be falling. The smaller homes between 180K and 215K seem to be staying steady, but the larger 2800 sf+ homes are dropping. Prices in 12 Bridges (with the exception of the custom homes in Verdera) are generally stable. The custom homes in Catta Verdera will see a PLUNGE in the next few months. Sun City Lincoln is a little harder to figure out. In general the prices have dropped, but the buyers in that market will buy regardless, if it is what they want.

Overall, the properties are moving and the banks are starting to get better at processing their short sales. This is just a snapshot of my feelings as to what is going on. If you have specific questions, let me know!

SHARK ATTACK-Summer Fun in Lincoln, CA

Can you remember your summers as a kid? I always think back about he hype and parties leading up to the end of school and then the joy of being free for a couple months. It seems to me that things have changed and there are way more parties and end of school productions that there use to be. There was great joy in being done with the everyday grind,  but also sadness in knowing that there were some friends that you wouldn’t see until you were sitting in your desk with your “school clothes” in a few months. Anyway, kids seem to have an adjustment period where they go from being super busy to feeling like they have nothing to do. Have you heard the phrase “I’m bored!” yet this summer? I am sure my wife hears it a lot more that I do, but I have had some calls from home during the day with the complaint of not having anything to do. My answer is always work! Mow the lawn, wash the car, water the plants, clean the floor, wash the windows…I could go on and on. Anyway, summer is supposed to be fun for the kids, and for those Moms, Dads, Grandmas or Grandpas out there that need some ideas to keep the kids busy, I am going to post some great ideas of things to do over the summer. I can’t take credit for the list,  this has been compiled by others for all of us to use.

The first list is of FREE activities and ideas:

Summer Fun 2010

Print out a calendar for the whole summer at:  http://www.thirtyhandmadedays.com/2010/05/summer-calendar.html and fill in what is already known and pick theme days, this could include a library day, a craft day, a food/cooking day, and outing day, movie day, friends over day, and a water day or whatever works for you.

Let children choose a theme for each week nd focus activities around that theme.

Establish a point system for things such as reading or outdoor play and use those points to earn media time or special outings.

If you choose a certain day for outings, keep it a surprise but let the children know it is almost always that day of the week to look forward to, for example “Wacky Wednesday” or “Surprise Friday”.

Grab those local parents’ magazines in the front of the grocery store.  Even if you don’t have young kids, the calendar in the back can be very useful.

Sign up for the City of Lincoln eBulletin, you get an email every couple of days with the activities, events and meetings around Lincoln:  http://www.ci.lincoln.ca.us/ConstantContact.cfm -These bulletins don’t always have fun activities for the kids but will give you a good idea of what is going on in the City.

FREE ACTIVITIES

Regal Family Movies – Olympus Pointe 12 – Tues., Wed., Thurs. @ 10:00 AM

520 N. Sunrise Ave., Roseville, CA  95661, 916-772-1245

June 22, 23, 24                     Doogal (G)

                                                Monsters vs. Aliens (PG)

June 29, 30 & July 1           Tale of Despereaux (G)

                                                Planet 51 (PG)

July 6, 7, 8                             Wallace & Gromit (G)

                                                Cloudy With A Chance Of Meatballs (PG)

July 13, 14, 15                      Kit Kittredge:  American Girl (G)

                                                Aliens In The Attice (PG)

July 20, 21, 22                      March Of The Penguins (G)

                                                Where The Wild Things Are (PG)

July 27, 28, 29                      Arctic Tale (G)

                                                Kung Fu Panda (PG)

August 3, 4, 5                       Clifford’s Big Movie (G)

                                                The Spy Next Door (PG)

Water Parks-were not talking about the big slide parks like “Sunsplash”

                Lincoln – Foskett Ranch

                Rocklin – Lone Tree, Camp Whitney, Memorial Park

                Roseville – Leonard Duke Davis Park, Mark White Park, R.F. Nelson Park, and others in greater Sac.

Frisbee Golf – Johnson Springview Park in Rocklin, Oak Park in Carmichael

Flashlight Tag – Fun to play at night at McBean Park

Tennis – Court at LHS usually open starting at 8 am

Free Books at Carnegie Library – Fridays 8:00 am – 12 Noon beginning June 11^th

Hidden Falls Regional Park (between Lincoln & Auburn) – Beautiful hiking.  Bring a lunch and make it a day.  Check website for directions and map:  www.placer.ca.gov/Departments/Facility/Parks/hiddenfalls.aspx

Rocklin’s 2010 Evening-In-The-Park free concerts held at Johnson-Springview Park, 5480 Fifth Street at the Community Stage.  Performances held on Friday nights from 7 pm – 9 pm. 

                June 11 – Dad’s Night with “Square1”

                July 9 – Kids’ Night with “Essex”

                July 23 – Health & Safety Night with “Eclipse”

                August 6 – Teachers’ Appreciation Night with “Departure”  www.rocklin.ca.gov/government/service_n_facility/special_events_theatre_n_arts/special_events/evening_in_the_park_concert_series.asp

Rocklin’s Shakespeare Company presents Dream On: A Midsummer Night’s Dream at the Johnson-Springview Park Community Stage.  Free performances start at 8 pm.  Dates: July 29, 30 and August 1, 13, 14, 15

www.rocklin.ca.gov/government/service_n_facility/special_events_theatre_n_arts/theatre/shakespeare_in_the_park.asp

Fun cement slide – Lincoln Estates Park, 331 James Drive in Roseville. Bring a rolls of wax paper for easy sliding.  There are picnic areas and regular play structures at the park, but NO bathrooms.

Art Walk – 3^rd Saturday of every month.  Downtown Roseville galleries, and retail & civic venues keep their doors open for visitors to enjoy an evening of fine art, music and refreshment.  Roseville Arts Blue Line Gallery participates in this community event by offering regular 3^rd Saturday afternoon hands-on activities for children (1-4pm) and evening receptions (6:30-9pm).  http://www.rosevillearts.org/tours.html#3rdsat

Friday night movie at the Twelve Bridges Library – July 2^nd at 6:00 pm – Percy Jackson; the Lightening Thief

Check website for August movie:  www.libraryatlincoln.org

Lincoln  Library Summer Reading Program – June 1^st thru July 5^th.  www.libraryatlincoln.org

Barnes & Noble Summer Reading Program – Read 8 books and get a free book off their list.  Sign-up forms in the store.  1256 Galleria Blvd., Roseville

Concerts at The Fountains in Roseville – Sat. July 3^rd, 8 – 10 pm

Lincoln Farmer’s Market – Thursday Nights in downtown Lincoln

Martha Riley Library – new library in Roseville that has an upstairs room where kids can play games.  Also houses the Utility Exploration Center.

Downtown Roseville Tuesday Night – 5 – 9 pm on Vernon Street, May through July

http://www.roseville.ca.us/calendars/city_calendar.asp?ViewBy=7&CalDate=6/15/2010&EventDateID=16785

Lowe’s free Build & Grow Clinics – kids build projects at 10 am on some Saturdays https://www.lowesbuildandgrow.com/

Home Depot free kid’s workshops – first Saturday of each month from 9am – 12 Noon

Michael’s – variety of craft classes  http://www.michaels.com/art/online/events?storeid=1680

Chuck E. Cheese – use coupons from the newspaper for free and cheap tokens-I’m not a huge fan of this one, something about furry animals being around pizza…but the kids like it!

Play areas in the mall

Geocaching – high tech treasure hunting  http://www.geocaching.com/ This is pretty cool for older kids. REI has GPS units you can rent. Sometimes the treasures they find are fun. Make sure that you give them some things to leave for the next people at the geocache-the treasures don’t have to be expensive. I have seen fast food toys and dollar store items in the cache. You could probably find some things around the house that would be great geocache treasures.

Just a short bio video that will give you an idea of how I run my business…

I have been involved in a number of different businesses through high school, during my college time and after graduation. Whether or not it was my own business, I have always been interested in looking at the trends that affect the performance of a company. Obviously there are many factors that a business owner can’t control and either has to adapt or suffer. Over the last five years or so, it has become very apparent to me how quickly the real estate industry changes. I am not talking about the overall economy (although the effects are evident), I am thinking about adjustments in marketing listings and advertising for new business. Years ago, the newspaper and slick magazines at the grocery stores were a big part of marketing. Now, many of these companies have either changed to an online presence, are half the size they used to be or gone completely. Of course, there are many options for advertising but one tool that we are now using is one that I am really excited about.

The National Listings Distribution Program is a new program from Realty World that gives our listings maximum exposure on the internet. Here’s how it works…within 72 hours after we enter the listing in our system, your home is displayed on 34 major national real estate portals, providing instant, maximum exposure and increased search results on the property. Also, we have a partnership with Trulia.com and they promote our listings to an additional 170 partner websites. The facts are that about 80% (I think it may be higher) of buyers are using the internet to search for a home.  Calls from buyers come in everyday saying that they saw my listing on the internet. I can’t even begin to explain how important this is. The truth is, selling your home is a numbers game. The more people that know about it, the more chance we will get people through the door and the more people that come, the better chance we have to sell and sell at a good price. This program works! No other real estate company is providing this type of exposure at this point.