California shows recovery in Housing

California housing market shows pockets of recoveryA surge in home sales that started in some of California 's more affordable inland areas has begun to spread to several more expensive coastal areas, another indicator that the state's real estate market may be in recovery mode. Many homes in the lower end of the market are receiving multiple offers, with some prospective buyers bidding well above asking prices. Inventory levels for homes priced under $500,000 stood at 3.2 months in May 2009, compared with 9.4 months in May 2008.Some buyers, especially those in historically higher-priced markets such as the San Francisco Bay Area, are newly optimistic about buying homes and are realizing that the combination of low interest rates, favorable home prices, and first-time home buyer tax credits may not realign for many years.Some housing economists caution against interpreting signs of increased sales activity as meaning the market has bottomed. Interest rates on 30-year, fixed-rate prime mortgages have risen above 5 percent in recent weeks and could continue to increase as fears of inflation impact interest rates. Additionally, the federal tax credit for first-time home buyers is scheduled to end Nov. 30, which may remove the incentive to purchase.Although the median price in the state has risen for four consecutivemonths, prices in some higher-income neighborhoods still are declining. Some agents say that declining prices in these neighborhoods are a reflection of borrowers' problems getting jumbo mortgages to make purchases. This month's Market Snapshot features: Buyers who are having difficulty arranging financing or coming up with a down payment may want to consider rent-to-own or lease-options. Generally, these deals require buyers to pay extra amounts of rent each month, in addition to the normal market-rate rent, plus up-front fees of approximately 5 percent of the purchase price. The owner keeps the regular rent, but the additional payments are used to buy down the price of the home. While rent-to-own options may be a viable choice for some buyers, most real estate experts recommend buyers and sellers work with attorneys experienced in drafting lease-option agreements. Although rent-to-own options enable buyers to walk away from the deal for a variety of reasons, including deciding the home or neighborhood isn't a good fit; one drawback is that by walking away, buyers agree to forfeit the up-front fees and the additional monthly rent they've been paying. Additionally, at the end of the term, if the buyer still is unable to secure financing they also may have to forfeit the money.

Are You Prepared For An Emergency? Sacramento County

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Sacramento Ready is a regional partnership of local government working to provide emergency preparation and response information to people in the Sacramento area.
Swine Flu
Swine Flu cases have been confirmed in Sacramento County. Find out about the symptoms, treatments, and prevention of swine flu, as well as information about where cases have occurred. Get details on the Swine Flu information web page.
If you have specific questions not answered by our resources online, you can get more information by calling 2-1-1 in the Sacramento region. Twitter users can sign up to receive periodic messages from Sacramento County's Public Health Division at www.Twitter.com/SacPublicHealth.
Be Prepared as the Seasons Change
The Sacramento region is warming into springtime weather, but we may still see showers in April and May. Get information about preparing your home for the upcoming seasonal change.
Prepare an emergency kit
Make a communication plan for your family
Plan together with neighbor helping neighbor
Prepare in advance – information for seniors and people with disabilities
Learn more emergency preparation tips in the Are You Prepared Guide.
Sacramento County Emergency Operations and Evacuation Plans
The Emergency Operation Plan provides you with information about how local officials will respond in the event of an emergency. As emergencies often cross jurisdictional lines, this report takes into account the many agencies within the region charged with guiding our operations, and offers valuable insight into the multi-pronged approach we would take to provide for your health and safety. Read the Sacramento County Emergency Operations Plan. (6MB)
In the event of an emergency that requires the County to evacuate citizens from an impacted to a safe area, there are agreed-upon strategies already in place to ensure the process is handled as smoothly as possible. This plan also takes into account the many people with special needs who might need additional support in an evacuation. Read the Sacramento County Evacuation Plan.