Remember to change your clocks Nov. 2nd!!!

Hi and welcome to THE BURMASTER REPORT!

Here at Burmaster Real Estate, we would like to say Hello again! It has been a while since our last newsletter but we are back and ready to go!  Keep your eyes open because every month we will be sending out these helpful newsletters jam packed with useful information just for YOU!  Among the interesting facts and findings we will also be including some great deals so be sure to take advantage of them.  Thank you for your continued support and any questions or comments please feel free to contact us either via phone 916-978-0992 or the web at www.BurmasterRealEstate.com

And now, onto news in the Local Real Estate Market...

As we all know, we are in one of the most challenging real estate markets ever, which is being affected by the lending industry. Liquidity in the mortgage market is essential to the health of the housing market. And though home loans are still available, qualifying requirements have become more stringent.

National Association of Realtors (NAR) Chief Economist Lawrence Yun is closely monitoring the credit situation. NAR advocates “legislation that will benefit Main Street by restoring market liquidity to the financial markets.” Yun notes that interest rates are historically favorable and predicts they will stay under 7% throughout 2009.

National stats show that in August existing home sales fell 2.2% and new homes fell 10% compared to August 2007. New home building start-ups are down. Right now, the slow down on building new homes may help the sale of existing homes. Remember that sales are dependent on supply and demand. In fact, existing home sales currently pending in escrow are up 5.3%.

To better understand where you as a potential buyer or seller fit into all of this, we need to focus on housing statistics for your local area. There’s still plenty of good news out there. For example, housing prices in Denver, Houston and Boston have risen. Furthermore, Yun predicts strong recoveries in Colorado, Texas, California, Nevada, Arizona, Florida, Ohio and Missouri. We just need to review the current comparables for your neighborhood. Please contact me with any questions; Gary@BurmasterRealEstate.com

Q: What are FDIC banks?

A: The vast majority of banks, including all state-chartered banks in California and many foreign-owned banks, are FDIC-insured. In the event of a bank failure, the Federal Deposit Insurance Corporation insures deposits, including money market accounts, up to $100,000.

Co-owners of an account are each insured up to $100,000, so they can have up to $200,000 in a joint account with the full amount protected by the FDIC. There are also rules for retirement accounts and living trusts.

*UPDATE:  With the $700 Billion bail out, the FDIC raised their limits to $250,000.*

To learn more about how to structure your bank accounts for maximum coverage or verify that your bank is an FDIC member, go to http://www.fdic.gov and click on the "deposit insurance" tab.

Sales

Over here at Burmaster Real Estate, our Sales Division is working harder than ever to provide you with that perfect home.  Whether you are a first time home buyer or an investor connoisseur our sales team has something for you! Specializing in REO's and BPO's we can provide you with the professional and enjoyable services at this exciting venture in your life. 

Overall home sales in the Sacramento market continue to rise since the start of this year. The following are the statistics for the Sacramento County in the past month alone:

2,193 is the number of homes for Sale in Sacramento for September 2008

$259,715 is the average list price of those homes.

1,921 homes were sold in Sacramento in the month of September 2008

$213,912 was the average sold price for those homes.

Compare each month of residential homes sold in Sacramento from January 1, 2008 through September 2008

As you can see, housing sales are still on the rise. The buyers market is going strong so make sure you get your piece of the real estate pie.   Gary just signed two new asset managers which means higher inventory of bank owened properties in the near future!!! Call Gary Burmaster at (916-978-7001), or email at Gary@BurmasterRealEstate.com

Maintenance

It is that time of year again! Jack Frost is knocking at your door, will you be ready to answer?!?  Here at Burmaster Real Estate we would like to help you prepare for this fall/winter season by offering you some tips on "WINTERIZING" your property.  By following these six simple pre-emptive steps you can potentially save buckets of money on costly repairs. 

1. Weather strip and caulk all open breezeways where cold air may flow into your property.  By doing this simple task you can cut down your energy bills drastically during all seasons.
2.  Make sure you open up that flu when enjoying a fire in your house.  We all know that not opening that flu can cause lots of problems, and every year some of us forget.  Also, make sure you close the flu when your fire is completly out.  Flu's can act as giant window, allowing cold air to come into your house.
3. Clean out those gutters and down spouts.  Don't let your gutters get bogged down by an abundant leaf burden.  Remove those leaves and eliminate your chances of having to replace your gutters this fall.
4. Change the filter in your heater.  Experts say that in the winter months you should be changing your filter once a month.  You will be surprised at how fast these muck up!
5. Wrap those pipes.  Too often we forget this simple task until it is too late and our pipes have frozen, take care of it early to avoid the headache.
6. Trim back trees/branchs.  Dont get blown away by pricey repairs from damage done by your trees.  Trim back those branches before they fall onto your property/vehicles.

Of course there are many more actions you can take to help prepare your property for this upcoming winter, but these are just a few we thought would be most helpful. 

Does reading this list make your head hurt from chores just added to your "to-do" list!? Let us take all that hassle away! Our Maintenance division has prepared for this fall by staffing numerous vendors in "winter weather" related trades.  At this time we are offering a "winterizing special package" that will include the services of wrapping pipes, cleaning gutters and trimming tree branches at an unbeatable price.  Please contact us at 916-978-7003 or Maintenance@BurmasterRealEstate.com to inquire on specifics. 

Property Management

 Are you thinking of investing in properties and managing them? Below is an article on some helpful hints and ideas for succesfully managing your properties.  

· Property condition Getting the best tenants and commanding the highest rent starts with a sharp-looking building that has good curb appeal. Keep the structure, landscaping, common areas, and parking in good clean condition.

· Tenant applications and screening Require each potential tenant to complete a rental application and then follow up to verify their employment, rental history, and credit and criminal history. Remember, it's always easier to get tenants into your building then it is to get tenants out of your building.

· Emergency repairs Be sure you have reputable maintenance personnel on-call to service emergency repairs. This may be your job or someone you hire, just be sure the tenant has a repair “help line” they can call 24 hours a day when something must be fixed immediately.

· Aggressive marketing of vacancies Get the word out about an upcoming vacancy instantly. Use signage, advertise in the newspaper, or post it on the web. Moreover, be sure someone is available to take the calls.

· Move-in/move-out coordination Get a unit “rent-ready” within a day or two after it becomes vacated, even when you don’t have a new tenant standing by. You wouldn't want to postpone a showing to a prospective tenant because the unit isn't ready to show.

· Keys and locks It's always a good idea to change locks each time you have a turnover in tenants. This adds security for you and your new tenant.

· Learn the laws about eviction Know what you must do to evict a deadbeat tenant even when you don’t think it might be necessary. The last thing you want is to have a deadbeat tenant hanging around any longer than necessary.

· Keep accurate books and records Maintaining a good income and expense history is vital to your rental property business and the cornerstone to the profitability of your real estate investment.

James R. Kobzeff has thirty years of real estate experience and is the developer of ProAPOD® Real Estate Investment Software. Feel the power at www.proapod.com

The above article hits the nail on the head.  Every single one of those bulletin points is crucial to maintaining a successful property management company.  Whether you decide to manage your properties yourself or you would like a professional company to do it for you keep Burmaster Real Estate in mind.  Even if you would like to manage your property yourself but are having a hard time finding that perfect tenant; we offer "rent-up" services to help you fill your property.  Take advantage of our amazing rent up offer.  For a one time fee of only 50% of 1 months scheduled rent we can fill that property for you!

***REFERRAL PROGRAM: We will pay YOU $50.00 for every new account signed and $25.00 for every new tenant that you send our way!***

Come visit us online!!! Vacancy lists, company profile and any other information you may need can all be found on our website at www.BurmasterRealEstate.com

From the Desk of Gary Burmaster

Hello!

 Last month we started a new feature where readers could send in their request for articles or information they would like to see in future editions of the Burmaster Report.  That idea took off like a rocket and we would like to make that column a regular feature.  Please send in your questions or ideas and we will make sure we try to include it in future editions of The Burmaster Report. 

Due to the increase in new accounts and increase of units on existing accounts; we are once again going through a hiring phase for Property Managers and Leasing Agents.  Be on the look-out in the next newsletter for an Introduction to the newest members of the Burmaster Team!

 As always thank you for your time and interest and if there is anything I can assist you on please feel free to contact me.  Thank you and I look forward to hearing from you soon,

Best Regards,

Gary Burmaster,CEO