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Forbes: Sacramento's experiencing a "mini boom"
Friday, January 16, 2009
Attention, fence-sitters: I'll keep this brief.
Forbes' Matt Woolsey reports this week that experts named Sacramento as one of the top 10 cities where it makes the most sense to buy:
1. Las Vegas
2. Sacramento, Calif.
3. San Diego, Calif.
4. Los Angeles
5. Detroit
6. Phoenix
7. San Francisco
8. Washington, D.C.
9. San Jose
10. Atlanta
You can read more here.
Source: Forbes, Matt Woolsey (01/12/09)
Labels: Fair Oaks, North Natomas, Oak Park, Old Sac, Pocket, Regency Park, Rio Linda, River District, River Park, Rosemont, Sacramento, South Land Park, South Natomas, South Sac, Tahoe Park, UCD Med Center, Woodlake
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posted by Rob McQuade @ 5:37 PM,
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CalPERS home loans trump minimum wage for State employees
Thursday, August 7, 2008
Working for the State of California may not seem all that appealing when the annual tradition of stalled budget negotiations means minimum wage for state employees (except those who are exempt from the governor's recent executive order), but there are some benefits to civil servants that just might make it worthwhile, like the CalPERS Member Home Loan Program (MHLP).
CalPERS (the California Public Employees Retirement System) draws its membership from employees of the State of California as well as public sector employees in may city and county government agencies, including employees of the City of Sacramento, Sacramento County, Placer County, and many other counties and local municipalities. If you have a CalPERS member number, you should be eligible for the Member Home Loan Program—and membership has its privileges, including:
60-Day and 90-Day Rate Protection
At the time of your loan application, you can lock in your interest rate for 60 or 90 days and get protection against market fluctuations. Other loan programs that offer shorter lock periods can leave you with a higher rate at close of escrow—resulting in higher monthly mortgage payments.
Two FREE CalPERS Float Down Opportunities
With the 60-day and 90-day interest rate locks, you’ll receive the lowest CalPERS interest rate on three key dates—date of loan lock-in, date of loan approval, and date the loan documents are drawn.
30-Day Rate Lock
You can choose to lock your interest rate for 30 days instead 60 days. Although the float down feature is not available with this option, you’ll get the benefit of a competitive 30-day rate.
Low-to-No Down Payment Programs—CalPERS Special Loan Programs
CalPERS offers several financing options that have either low or no down payment requirements. The MyCommunityMortgage™ and Flexible 100™ require little to no down payment.
Interest Only Feature
If you are just starting off, would like greater purchasing power, or like the idea of lower initial monthly payments, CalPERS' Interest Only Feature could be right for you. With initial interest-only periods of 7- to 10-years, these fixed rate and adjustable rate mortgage loans are available for home purchases or refinancing.
100 Percent Financing Options
CalPERS offers options to purchase a home with no out-of-pocket costs for the down payment. CalPERS' 100 financing options could let you secure up to $500,000 for a down payment. CalPERS even offers down payment assistance on jumbo loans.
Savings From Our Partners
To provide you with more comprehensive service during your home buying process, a number of affiliate relationships have been established. Check out additional savings on services related to purchasing or refinancing a home here.
No Prepayment Penalties
Any CalPERS Mortgage Loan gives you the option to make early principal payments with no penalty. This feature of the program not only gives you the ability to build equity in your home but, because these payments are immediately applied to your loan's principal balance, it also saves you money.
For more information or to take advantage of the CalPERS Member Home Loan Program (MHLP), call (916) 444-7577 and we'll connect you with an independent mortgage professional who can serve your needs.
Labels: Antelope, Arden, Central, Citrus Heights, Curtis Park, Downtown, East Sac, Elk Grove, Elmhurst, Greenhaven, Laguna, Land Park, Midtown, Natomas Park, North Natomas, North Sac, Old Sac, Rancho Cordova, Regency Park, River District, Roseville, Sacramento, Southport, West Sac
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posted by Rob McQuade @ 11:43 AM,
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Making the River District and Richards Blvd livable
Saturday, May 3, 2008
Too Much, Too Late
A terrible thing happened just as Sacramento was "growing up" and becoming a vibrant city: the real estate market reversed course after several years of phenomenal gains. Projects like The Towers that John Saca was working on Craig Nassi's Aura Condos—both beautiful highrise residential projects—stalled as the market began changing, leaving Sacramentans still wanting for signature new residential projects.
Sacramento's Second Chance(s) at a First Impression
Despite changes in the regional real estate market, Downtown Sacramento stands as a sign of the city's hopefulness. New, more patient and thoughtfully designed projects have begun to take the place of the more brash, no-such-thing-as-a-bubble developments we thought were the Next Big Thing to hit Downtown. Real estate developer Thomas Enterprises has continued to
plod along methodically with the 240-acre Railyards redevelopment adjacent to Sacramento's existing Downtown area.
But lost in the discussion over the much larger Railyards site is a smaller but very significant redevelopment area just north of Downtown along the American River: the River District.A River (and Light Rail!) Runs Through It
Comprised of mostly warehouse, semi-industrial, and newer office-use businesses, the Richards Blvd corridor was rebranded as the River District as the city pushed for more infill housing. The largest project in the proposed area is currently Township 9, which is set to add roughly 3,000 housing units (in mostly mid- and highrise developments) between Richards Blvd at 7th St and the American River. Also proposed are a winding road along the river that would run alongside a park and outdoor amphitheater.
The site, anchored at 7th & Richards, is a transit-oriented development (TOD) that will have a light rail station connecting it to Downtown and south by 2010, and eventually continuing north to Natomas and on to the airport as part of the Downtown-Natomas-Airport (DNA) alignment.The Other "7th & Richards" Site
Also at 7th & Richards in the River District is a key development opportunity that we have listed, 750 Richards Blvd. The site, located at the anchor gateway for Township 9, consist of five parcels and primed for high-density mixed-use (and potentially highrise) transit-oriented development.
For more information about this major development opportunity, you can reach Rob McQuade at (916) 444-7577.Labels: Central, Downtown, highrise, Midtown, Old Sac, Railyards, River District, Sacramento
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posted by Rob McQuade @ 4:14 PM,
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A local plan for sustainability
Tuesday, February 19, 2008
In December the City of Sacramento adopted its first Sustainability Master Plan, but the real step toward making Sacramento a truly sustainable city came this week with the adoption of the 2008 Sustainability Implementation Plan. You can view it as a PDF here.
Labels: Central, City of Sacramento, Downtown, East Sac, Land Park, Midtown, Railyards, River District, Sacramento, sustainability
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posted by Rob McQuade @ 11:41 PM,
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Downtown vs. The Railyards?
Friday, January 11, 2008
It was Thoreau who said that "the mass of men lead lives of quiet desperation." Downtown property owner Moe Mohanna's desperation, however, is a bit louder. The Sacramento Business Journal's Michael Shaw reported that Mohanna has--through partners and interested parties—sued the City of Sacramento and Railyards developer Thomas Enterprises, "objecting to the entitlement approvals for The Railyards and claiming the project will hurt downtown businesses."
The suit, filed Wednesday in Sacramento County Superior Court, makes broad claims that the project's environmental impact report doesn't address the effect on existing retail locations like K Street, where Mohanna owns properties. The landlord and the city are locked in a battle over those properties.
Although entitlements granted to The Railyards include housing, office buildings and entertainment venues, the suit claims the project is "nothing but a huge, new 1.1 million-square-foot regional shopping mall."
That's one way to make friends and influence people, but Mohanna begins to look less like he's standing up for the rights of the little guy and more like a toddler throwing a temper-tantrum.
Labels: Central, Downtown, Moe Mohanna, Railyards, River District, Sacramento, Sacramento Business Journal, Thomas Enterprises
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posted by Rob McQuade @ 11:23 AM,
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One step closer to moving Greyhound to Richards Blvd
Wednesday, January 9, 2008
Terry Hardy reports in today's Sacramento Bee that talks between the City of Sacramento, Greyhound, and property owner Danny Benvenuti are closer to bearing fruit and that a formal announcement may be made this week. The station would be moved to 300 Richards Boulevard in the River District until a permanent home is completed as part of an intermodal transit hub in the Railyards.
Benvenuti, owner of the current Greyhound building at 7th and L Streets downtown, is exploring the possibility of a hotel and apartments for the site, just blocks from the Capitol, Downtown Plaza, and convenient to much of downtown's shopping, dining, and entertainment.
Labels: 7th and L, Central, City of Sacramento, Danny Benvenuti, Downtown, Downtown Plaza, Railyards, River District, Sacramento, transit
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posted by Rob McQuade @ 9:55 PM,
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