Just how important is choosing the right REALTOR®.  Well, ask yourself.  Would you invest your entire retirement savings with a stockbroker who just got his or her license?  If you were undergoing open heart surgery would you want it to be your doctor's first operation?  Of course you wouldn't.  Likewise, would you use an inexperienced real estate agent to represent you in one of your most important investments - your home?  Nope.

As of January 25, 2006 there were over 479,789 licensed real estate agents in California.  The California Department of Real Estate projects there will be over 500,000 licensees by June of 2006.   So this many licensees it means that quite literally every Californian knows someone "in" real estate.  

Think about how many people you know who might have a license.  Maybe your child's teacher.  Maybe the waiter at your favorite restaurant.  The person who sold you a new computer.  Maybe a relative of yours.  Many of them are people who decided to cash in on the real estate boom.  But for whose benefit?  Yours or theirs?

In fact, did you know that 90% of real estate transactions are handled by 10% of the licensees?  That's right.  Those who really know real estate are the men and women who work it as professionals.  Another interesting figure is that 90% of real estate licensees leave the field within two years of receiving their license. 

True real estate professionals are REALTORS®, members of the National Association of Realtors®.  They adhere to a code of ethics and are continuously learning and developing their skills to provide the best service possible to their clients.  REALTORS® work with clients on a daily basis to market and price properties to sell.  Good REALTORS®, successful REALTORS® are closing deals on a regular basis.  If not, they are merely dabbling in real estate. 

When you decide to purchase or sell a home don't take a chance on your niece April who's only been licensed since March and doesn't know a prelimenary title report from transfer disclosure statement.  Helping her learn how to list and sell your home could cost you.

Experience makes a difference.  Don't use a dabbler to represent you in one of your most important financial decisions.  Choose your representation wisely.  Choose a California REALTOR®.  In addition, you many want to look for signs of an agent's commitment to continuing education.  These are signified by important professional designations such as e-PRO® (certified internet professional), Accredited Buyer Representative®, Seniors Real Estate Specialist®, GRI (Graduate Realtor Institure), or CRS (Certified Residential Specialist).  

Choose an experienced REALTOR®.  You will be glad you did.

Change is the one constant in the universe.  And with that said, the real estate market has changed a lot in the past year.  It certainly is not as robust as it was last year at this time.  But is this good or bad?

With interest rates creeping up to their highest level since July 2002 (though still at very affordable levels) and consumer confidence faltering a bit the housing market is no longer enjoying the rapid run up in prices that we saw just nine to twelve months ago.

According to the Mortgage Bankers Association both refinance and purchase money loans are down from the same period last year.  For more on the MBA's Mortgage Application Survey click on MBA Weekly Survey. 

For the glass half full crowd the market is quickly becoming a buyer's market due to the still relatively low cost of funds and the near record high number of homes on the market.   Gone are the days of scrambling to be the first in the door and trying to beat out the multiple offers.  Now is the time when buyers can take a little extra time to find their dream home. 

Personally, I am finding it a great time to work with buyers because together we can find them a home that fits their needs and desires as well as negotiating better prices and terms.  I would encourage anyone interested in buying a home this Spring to begin the process now.   It is a lot of fun and looks to be a great season for house hunting.

Today marks the beginning of the California Housing Finance Agency's 40-year mortgage featuring a 5.75% interest rate.  This loan is targeted at California home buyers who face the highest home prices in the nation.

The new CalHFA loan provides low and moderate income residents who are first time buyers with the ability to reduce their payments by up to $150 per month on an average Sacramento area home.  While many low and moderate income residents are effectively priced out of the market due to the incredible escalation of home prices in California, a family of three or more with an annual income below $89,740 can qualify for a home as high as $429,620. 

Though extending the loan period does add to the final costs of the home, the new 40-year fixed interest rate loan puts the American Dream of home ownership well within reach for many more Californians.

Great news for California home buyers!  This spring the California Housing Finance Agency will make it possible for first time home buyers to qualify for a 40-year loan without even needing a down payment when they meet the CalHFA's first time buyer criteria.

CalHFA's 40-year loan minimizes risky financing for first time buyers such as adjustable rate mortgages and interest only loans.  CalHFA's 40-year loan maintains the same payment for the life of the loan.

The new CalHFA 40-year also provides buyers with a terrific option to qualify with less income.  For example: to qualify for a 30-year CalHFA loan for $355,000 buyers would need household income of $72,500 per year.  However, with a 40-year loan for the same $355,000 purchase price it would only take an annual income of $68,400 to qualify. 

With housing prices continuing to rise (the countywide median home price in Sacramento County in January '06 was $352,000) around the state this will enable many potential buyers the opportunity to enjoy the benefits and pleasures of owning a home.

For more information on the CalHFA 40-year loan and their other buyer assistance programs please click on CalHFA and learn more. 

One item often overlooked by new home owners is changing locks or re-keying existing lock sets.  Upon close of escrow and taking possession of one's new home the first order of business is to make sure the home is secure and your family is safe. 

As anyone can imagine it is unlikely to know just how many of the prior owners keys are unaccounted for.  Keys left with workers, stashed under the doormats or over door jams, "hidden" around the house, etc.  While some might say that locks will only keep the honest people honest.  It is always better to be safe than sorry.  The safety of loved ones is surely priceless and protecting your family is simple and inexpensive.

For anyone in the greater Sacramento area I would suggest contacting Carl Woodard (aka - The Key Man) to have your changed or re-keyed when you move.  Carl and his team are specialists at re-keying residential lock sets. 

In writing this I found several interesting links to sites with the history of locks.  The first locks were made by the Egyptians approximately 4,000 years ago.  For more on the history of locks go to:  Schlage's History of Locks, History of Locks on About.com,  or Encyclopaedia of Locks and Builders Hardware.

Be safe!