My Beautiful Sacramento

I just finished reading an insightful article on the CNBC blog about Big Banks Accused of Short Sale Fraud.  You can read about it by following the link. 

The article is discussing how second lien holders have been taking cash on the side from the real estate agents or the buyers outside of the escrow so that the first lien holder would not know that they were getting paid in order to drop the lien.  

That is not legal. 

Disclosure, disclosure, disclosure!  Everything is to be disclosed.  No secrets, no surprises.

Under no circumstances is there to be any compensation from any party that is not listed on the HUD statement. 

(RESPA is the Real Estate Settlement Procedures Act, the 2008 law requiring that consumers receive disclosures at various times in the transaction. It outlaws kickbacks that increase the cost of settlement services. RESPA is a HUD consumer protection statute designed to help homebuyers be better shoppers in the home buying process, and is enforced by HUD. Read more about it here.).

Built in 1873, the building is squeezed between 75 and 77 Bedford Street.  The space between the buildings was used as a carriage passage.  The address is 75 1/2  Bedford St.  It has been home to a few famous people including, Cary Grant, John Barrymore, Margaret Mead, Edna St. Vincent Millay, Clark Gable. 

Want to live in the skinniest house in New York City?  The rent on this 990 square foot townhouse will cost you $10,000 per month.  Yes!  That's right!  $10,000! 

The skinniest house in New York City was purchased in 1994 for $270,000 and $200,000 was invested in fixing it up.  In 2000, it was sold for 1.6 million.  It was on the market for $2.75 million but recently sold for $2.1 million. 

Looks like the bad economy hasn't had an effect on the value of this baby.

I'm afriad my claustrophobia would prevent me from living there.  I would love to see the inside though. The inside is 8 1/2 wide by 42 feet long. 

It is said to have an airy feel about it with the french doors on the first floor.  A trap door in the kitchen that leads to a finished basement and a nice garden (that is shared) in the back. 

I've been inside some skinny buildings in Amsterdam.  Tall narrow stairs and small rooms.  For some, this may be ideal.  It would be fun to see how much IKEA I could add to make stuff fit. 

If you are interested in more skinny homes, here is a site I found that has the 12 narrowist homes in the world. 

Photo by Star Cat on flickr

One of the things I missed when I moved to Sacramento from the bay area was the ability to walk to most of my shopping centers or to easily take public transportation wherever I wanted to go.  Being more densely populated, the bay area was built to accommodate walking, riding a bike or taking the bus.  There are more restaurants and stores mixed within the housing communities so it's more convenient to walk or take the bus than to drive a car and try to find parking.   Foot traffic brings business to local merchants and walking, riding bikes or taking the bus is much less expensive than driving a car.  Safer too. 

Sacramento was built around farms and orchards.  It is more spread out.  People have more room, but tend to be less inclined to using public transportation or walking to their destinations.  Instead we drive everywhere.  We drive to big shopping centers, we drive to eat and drive through to pick it up too.  Makes me think of the people in the movie, Wall-E, where everything was automated and everyone sat in chairs that floated around to take them to their destinations. 

My grandmother used to travel all over the place to do her shopping and run errands well into her 80's after she stopped driving.  She lived in Carmichael, CA, which is connected to Sacramento and has neighborhoods that are close to shops and cafes and other services.  So she got out and walked and took the bus for years.  It IS possible.  Hopefully now that "green living" is the in thing, our city planners will make changes that will enhance the public transportation and development of communities that are more suited to foot traffic and better health.

There are communities in Sacramento that are more walkable than others.  Not only is walking good for the heart, it's good for the environment. It's nice to get out and greet people. Know your community.

A study in Washington State found that the average resident of a pedestrian-friendly neighborhood weighs 7 pounds less than someone who lives in a sprawling neighborhood.¹ Residents of walkable neighborhoods drive less and suffer fewer car accidents, a leading cause of death between the ages of 15–45.

Want to get an idea of how walkable your Sacramento neighborhood is?  Check out this site:  WalkScore.ccom  

Walk Score also shows public transit locations in Sacramento where public Google Transit Feeds are available.

Is your neighborhood making you fat?  Definitely something to consider when deciding where you want to live.  Before you purchase your next home, check out the neighborhood to see how walkable it is.  What shops are close by? How often can you get to shops, local cafes or coffee shops and interesting places, without using your car.  It will not only benefit your health but will also be good for the environment.

Photo from flickr.com

Welcome to 2010!  New guidelines for RESPA went into effect on January 1st. 

PLUS! 

Extra steps added in the process of obtaining a home loan.  The "stated income" loan has gone bye bye... New guidelines for documenting income for borrowers are here.  Now days even if you have a wage earning job, you will still need to produce two years tax returns. 

You can read a copy of the guidelines here. 

Even if you have a wage earning, full time, job.  If you are self employed in anyway, shape of form, you will need to provide a cash flow analysis form. 

Here is an excellent article by Steve Kappre, that explains it.