CentralCityDigsBlog

Getting a Loan: The importance of credit scores

Having good credit has tremendous advantage when buying a home.

high credit score = lower interest rate = lower monthly payments!

To receive your credit score, visit myFico.com.  Here's what MyFico.com says today for a $300K loan:

30 Yr fixed mortgage

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FICO® score	APR [?]	Monthly payment *
760-850	5.322%	$1,670
700-759	5.544%	$1,712
660-699	5.828%	$1,766
620-659	6.638%	$1,924
580-619	9.259%	$2,470
500-579	10.222%	$2,682

Source: http://www.myfico.com/

Sacramento's Commercial Properties

Ever wanted to find a new home for your business? Check out LoopNet.com...

Sacramento Home Buying Seminar

The Central City Digs team will be hosting an upcoming home buying seminar in early February. Details to follow! To view info about CCD's previous events check out: CentralCityDigs.com

Hotel-Amenities in a Condo by the Capitol

The Towers project's residents were going to be able to reap the benefits of having a hotel onsite. Maid service, room service, athletic and pool access, and concierge services.  Folks were salivating at the prospects of having such a great resource.

Did you know you can get it at 15th & L Street, above the Residence Inn. Simply called "the Penthouses," they're your basic condo with nice Granite kitchens, big windows, and comfortably sized bedrooms. Lofts, they are not.  there are amenities of a residence hotel, referenced above. Parking is located just north of the apartments.

The remaining units include one on an above-tree level floor that has an AMAZING view of the Capital, right on the corner of 15th & L Streets.

They have been marketing them quietly as final touches are finished; now realtors are getting the opportunity to get their clients more involved. They're sweet!

Whiskey Hill Lofts: Poverty Ridge

I once lived at 22nd & S Streets....on the S side of the street was apartments and large historic homes. R Street was always rather industrial and empty.

And, of course, it was known as Poverty Ridge. Yeh, back in my day I used to ride my bike to and from the grocery store on Capitol and 17th because there was NO Midtown Safeway, folks!  Life was rough in those days. Now Poverty Ridge has a (Petrovich-inspired) Rite Aid AND a Safeway...lucky lucky lucky.

Anywhoo, times are a changin'. They're now calling it Whiskey Hill - - and even got a bar named after this 'hood (why didn't they call the area around 19th & P The Zebra Corners or Zebrahood???)....

I just received an email from the folks at Kuchman Architects indicating that they're preparing for sale the "WHISKEY HILL LOFTS." I'd heard it was going to be a rental property, but sounds like they'll soon be available. 28 units with garages. More info to follow.

http://www.kuchman.com/architecture-portfolio/urban/whiskey-hill.html

What are Interest Rates Doing?

My mortgage consultant, Geoff Black, sent me a forecast from MMG Weekly indicating the zigzagging of bond prices. Remember, bond prices high - interest rates low.

Home Insurance: The Price of it All

When purchasing a home in Sacramento, you will be asked by your lender to have home insurance by the close of escrow in order to protect their investment.  Picking the insurance firm can be tough; check out the Department of Insurance residential insurance information.

The Dept of Insurance website allows you to can compare premiums and also identify companies and contacts. 

To determine if you require flood insurance, check out the Sacramento Area Flood Control Agency (SAFCA)'s map.

Central Heat & Air: The Rules & Costs

Every time you buy a house with a professional agent, you will be disclosed the rules, regulations and costs of air conditioning. That way, you're aware of replacement costs effected by the 2006 CA Dept of Energy ruling that requires local permitting of ductwork efficiency. (SEE ARTICLE LINK BELOW)

It costs more to replace units and ductwork than it once did, so "flippers" no longer put in CH&A, but fix it instead.

I think it provides buyers knowledge of potential future costs, reassurance that a newer unit has been put in professionally, and the overall community benefits of knowing units are more energy efficient.

http://www.bizjournals.com/sacramento/stories/2006/02/06/focus4.html