C.A.R. Reports September Home Sales

C.A.R. reports September home sales increased 2.1 percent; median home price declined 7.3 percent

Multimedia:
· Click here to view Unsold Inventory by price point
· Click here to view a data table comparing peak prices and current prices in areas throughout the
state

Quick Facts:
· Existing, single-family home sales increased 2.1 percent in September to a seasonally adjusted rate
of 530,520 units on an annualized basis.

· The statewide median price of an existing single-family home increased 1.1 percent in September to
$296,090, compared with August 2009.

· C.A.R.’s Unsold Inventory Index fell to 4.2 months in September, compared with 6.5 months in
September 2008.

LOS ANGELES (Oct. 26) – Home sales increased 2.1 percent in September in California compared with the same period a year ago, while the median price of an existing home declined 7.3 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.

“The market’s momentum continued in September, as many home buyers took advantage of the federal tax credit for first-time home buyers,” said C.A.R. President James Liptak. “The success of the federal tax credit is clear. Nearly 70 percent of first-time home buyers report that the tax credit was ‘the most important’ or a ‘very important’ factor in their decision to buy a home.

“C.A.R. is calling for the U.S. Senate to swiftly adopt the Dodd-Lieberman-Isakson amendment, which would extend the federal tax credit through June 30, 2010, remove the first-time buyer requirement and extend the credit to all home buyers, and increase the qualifying income limits so more families are eligible for the credit.”

Closed escrow sales of existing, single-family detached homes in California totaled 530,520 in September at a seasonally adjusted annualized rate, according to information collected by C.A.R. from more than 90 local REALTOR® associations statewide. Statewide home resale activity increased 2.1 percent from the revised 519,530 sales pace recorded in September 2008. Sales in September 2009 increased 0.6 percent compared with the previous month.

The statewide sales figure represents what the total number of homes sold during 2009 would be if sales maintained the September pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.

The median price of an existing, single-family detached home in California during September 2009 was $296,090, a 7.3 percent decrease from the revised $319,310 median for September 2008, C.A.R. reported. The September 2009 median price rose 1.1 percent compared with August’s $292,960 median price.

“A new milestone was reached in September, when five C.A.R. regions reported positive year-to-year increases in the median price, the first such increase since January 2008,” said C.A.R. Vice President and Chief Economist Leslie-Appleton-Young. “September also marked the seventh consecutive month of month-to-month increases in the statewide median price and the first single-digit decline in the year-to-year median price since October 2007, after 22 consecutive months of double-digit decreases.

“Efforts by the government to stimulate housing and the economy clearly are impacting the market. Sales have exceeded 500,000 homes for 13 consecutive months, and now are 33.1 percent higher on a year-to-date basis compared with 2008,” added Appleton-Young.

Highlights of C.A.R.’s resale housing figures for September 2009:

. C.A.R.’s Unsold Inventory Index for existing, single-family detached homes in September 2009 was 4.2 months, compared with 6.5 months (revised) for the same period a year ago. The index indicates the number of months needed to deplete the supply of homes on the market at the current sales rate.

. Thirty-year fixed-mortgage interest rates averaged 5.06 percent during September 2009, compared with 6.04 percent in September 2008, according to Freddie Mac. Adjustable-mortgage interest rates averaged 4.59 percent in September 2009, compared with 5.14 percent in September 2008.

. The median number of days it took to sell a single-family home was 33.6 days in September 2009, compared with 46.2 days (revised) for the same period a year ago.

Regional MLS sales and price information are contained in the tables that accompany this press release. Regional sales data are not adjusted to account for seasonal factors that can influence home sales. The MLS median price and sales data for detached homes are generated from a survey of more than 90 associations of REALTORS® throughout the state. MLS median price and sales data for condominiums are based on a survey of more than 60 associations. The median price for both detached homes and condominiums represents closed escrow sales.

In a separate report covering more localized statistics generated by C.A.R. and DataQuick Information Systems, 65 of the 406 cities and communities reporting showed an increase in their respective median home prices from a year ago. DataQuick statistics are based on county records data rather than MLS information. DataQuick Information Systems is a subsidiary of Vancouver-based MacDonald Dettwiler and Associates. (The lists are generated for incorporated cities with a minimum of 30 recorded sales in the month.)

Note: Large changes in local median home prices typically indicate both local home price appreciation, and often, large shifts in the composition of housing market activity. Some of the variations in median home prices for September may be exaggerated due to compositional changes in housing demand. The DataQuick tables listing median home prices in California cities and counties are accessible through C.A.R. Online at
http://www.car.org/economics/historicalprices/2009medianprices/sep09medianprices

. Statewide, the 10 cities with the highest median home prices in California during September 2009 were: Manhattan Beach, $1,502,000; Burlingame, $1,401,100; Saratoga, $1,297,500; Los Altos $1,275,000; Palos Verdes Estates, $1,163,500; Calabasas, $1,073,500; Newport Beach, $1,050,000; Los Gatos, $1,050,000; Santa Monica, $1,025,000; Cupertino, $950,000; and Rancho Palos Verdes, $912,500.

. Statewide, the cities with the greatest median home price increases in September 2009 compared with the same period a year ago were: San Juan Capistrano, 40.2 percent; San Rafael, 30.5 percent; Moorpark, 29.8 percent; Thousand Oaks, 20.7 percent; Calabasas, 19.3 percent; Lake Forest, 17.7 percent; Walnut, 13.6 percent; El Cajon, 13.5 percent; Tustin, 13.1 percent; and Big Bear Lake, 12.1 percent.

Leading the way...® in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States, with more than 163,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

Articles above have been provided by the listed author immediately following the article. For additional resources and information to the authors please visit the following sites.

Important Link:

1) Bill Fields- All Star Coaching Program http://www.AllStartCoaching.net

2) GreatWest GMAC- Company Site http://www.LocalHomeLink.com

3) GreatWest Blog for the Consumer Buyer and Seller http://www.GreatWestBlog.com

4) T. Sami Siddiqui Blog (Buzz About Sacramento-) Broker/Owner GreatWest GMAC http://www.SamiSiddiquiBlog.com

5) Brodie Stephens- Executive Vice President GreatWest GMAC- One Stop Blog http://www.BrodieStephensBlog.com

6) GreatWest Real Estate Podcasts –Weekly updates on Newly Listed Short Sales, REO, Bank Owned and Foreclosures http://www.HouseTalkOnline.com

7) See GreatWest Videos (Training, Classes) at http://www.youtube.com/brodiestephens

8) Facebook (Profile and Page) http://www.facebook.com/brodiestephens

9) Facebook GreatWest (Profile and Page) http://www.facebook.com/SearchMLSHomesForSale

10) MySpace GreatWest (Profile, Page, Blog) http://myspace.com/greatwest

11) MySpace Brodie Stephens (Profile, Page, Blog) http://www.myspace.com/brodiestephens

12) Picasa Web Album- Pictures of GreatWest and the Greater Sacramento area market place http://picasaweb.google.com/brodiestephens

13) Real Estate Careers- GreatWest GMAC is looking for Professional Realtors to Join Us http://www.CareersWithUs.com

14) Global Employee Relocation http://www.employeerelocation.blogspot.com

15) Apply for a Loan- http://www.Choice1Funding.com

Luxury Homes Sale Prices Declining

The Real Estate market has been falling for quite some time. Lower end homes of $300,000 and lower have dropped to the average cost of $195,000, and are the source of bid wars between investors and first time home buyers. However now, the higher end market is starting to lose their hold.

Unemployment has been a strain on the luxury homes. It is reported that 40 percent of a $156 million reduction is from homes worth $1 million or more. These luxury homes have dropped from an average of $271,000 and $334,000.

The luxury market is decreasing, but Sacramento Association of Realtors put out a report that stated only 2.9 percent of sales were priced over $500,000. The market is still small, but may grow in the future if the luxury market drops further. It will be a good opportunity for those who have the funds to purchase their dream luxury home.

For Mortgages, 620 is The New Magic Number

Near historic low mortgage rates, favorable home prices, and the federal tax credit for first-time home buyers have contributed to home purchases in the past year. However, the onset of the credit crisis, new regulations for home appraisals, and more stringent guidelines for purchases and refinances have resulted in confusion for some potential home buyers.


While using a mortgage broker to find the best loan may work for some buyers, it may not always be the best route. In the past, mortgage brokers could “shop” a loan to multiple lenders to help find the best deal. However, new practices and procedures under the Home Valuation Code of Conduct (HVCC) have hampered mortgage brokers’ abilities, namely that lenders may no longer accept home appraisals commissioned by brokers. As a result, consumers may have to pay for new appraisals with each lender, which costs time and money. However, consumers who are very busy or need guidance may find that working with a mortgage broker is the easiest solution.


Qualifying for a mortgage under current lender standards is more difficult nowadays than in years past. Beginning Nov. 1 or Dec. 12, depending on the type of loan, Fannie Mae is tightening its lending standards to the 620 credit score benchmark—including loans backed by the Federal Housing Administration and Veterans Affairs. Borrowers with credit scores of less than 620 will find it very difficult to qualify for a mortgage. However, to qualify for the best rates, consumers generally need credit scores of 720 and must have verifiable, steady income.


As for loan type, most real estate professionals agree that a fixed-rate mortgage is the best choice for buyers and refinancers.

Fear Overload Premier Haunted House

Thursday, Oct 22 7:00p
at Westfield Downtown Plaza, Sacramento, CA

Fear Overload has been implanting fear since 1997. Located in Sacramento California, we work hard to make our haunted house an entirely new frightening experience each year. We believe this is why we have so many return customers year after year (well, at least the ones that make it out alive). With over 25 years of combined haunting experience, our lead design team is highly distinguished for their realism and intricacy to make our attractions deathly terrifying. We take pride in each haunted attraction we create. Bring your friends and family and let us make your worst nightmares come to life! VIP Admission $17.00 General Admission $13.00


Source Sac Bee

Lawmakers seek to extend $8,000 tax credit

WASHINGTON -- Lawmakers are trying to extend and expand an $8,000 federal tax credit for first-time homebuyers, a stimulus-package tax break that many regard as a significant prop for the still-tottering economy.

The latest Senate proposal would drop the requirement that the credit be available only to first-time buyers, broadening the reach of the program but also adding to its cost, estimated by congressional analysts at $16.7 billion.

The backers of that idea, Sens. Johnny Isakson, R-Ga., and Christopher Dodd, D-Conn., chairman of the Senate's banking committee, have suggested that their measure be attached to another pending bill aimed at throwing a lifeline to people hit by the recession, an extension of federal assistance to the millions in danger of exhausting unemployment insurance benefits.

While the White House says there will not be a second stimulus package following the $787 billion economy booster enacted last February, extending the homebuyers' credit and unemployment benefits are among several primary means being pushed by the administration or Congress to help people get through the prolonged economic downturn.

Others include continued subsidies for laid-off workers trying to keep their health insurance and a proposal by President Barack Obama to provide seniors and others with a $250 payment to make up for the lack of a Social Security cost of living increase next year.

The stimulus-package credit allows first-time homebuyers to reduce their federal income taxes by 10 percent of the price of a home, up to a maximum of $8,000. The credit, which could cost in the $12-15 billion range this year, is set to expire Dec. 1.

The Isakson-Dodd proposal would extend the credit to June 30, 2010. It would also remove the first-time homebuyer requirement and raise the eligibility income limit to $150,000, or $300,000 for a couple. That's double the current phase-out limits.

As with the Cash for Clunkers program for cars, skeptics have questioned whether the credit will have any long-term effect on the housing market.

Brookings Institution economist Ted Gayer wrote in a recent report that the tax credit is "very poorly targeted." He calculated that of the 2 million or more people who would make use of the credit if it were extended for a year and expanded to cover all buyers, only about 383,000 would be additional sales motivated by the credit. He estimated that the real cost of the credit would thus be more than $40,000, rather than $8,000, per buyer.

But believers say it has been instrumental in sustaining an economic recovery highly dependent on housing.

The National Association of Home Builders, the source of the 383,000 figure for increased home purchases, pointed out that this would also create more than 347,000 jobs, generate $16.1 billion in wages and salaries and $12.1 billion in business income.

"Homebuyers for the past two years have been sitting on the fence and we needed something to move them into the market," said Lucien Salvant, managing director for public affairs at the National Association of Realtors. With more foreclosures coming next year, "to knock the props out of the housing market at this point would not be a wise move."

The NAR, together with the NAHB and the Mortgage Bankers Association, have been running ads in the Washington area urging Congress to extend the homebuyer tax credit.

They note that home sales to first-time buyers have increased by 25 percent in 2009 and now account for 50 percent of all sales. They add that first-time buyers are often at the lower end of the market and the tax credit is reducing the inventory of foreclosures.

Isakson, in a speech on the Senate floor this week, said lawmakers owed it to the country to extend "a proven program that works" and "buoy the marketplace."

He said that if the program is allowed to expire, the market again will depress values, sales and consumer confidence.

Senate Democratic leaders have not decided whether the homeowners' credit issue should be part of the unemployment bill. But there is powerful backing for taking it up in some form.

House Speaker Nancy Pelosi, D-Calif., said last week that she is looking into extending and expanding the popular tax credit, which according to IRS data has so far drawn more than 1.4 million applications from first-time homebuyers.

Senate Majority Harry Reid, D-Nev., last month joined Sens. Ben Cardin, D-Md., John Ensign, R-Nev., Debbie Stabenow, D-Mich., and Isakson in introducing a bill calling for a straight six-month extension of the tax credit.

The potential addition of the Isakson-Dodd proposal to the unemployment benefit bill would be a new element to a bill that the Senate is already trying to enlarge.

The House last month passed legislation to increase jobless benefits by 13 weeks, but only in those 27 states where the unemployment rate is at or above 8.5 percent.

That left lawmakers from the other 23 states unhappy, and last week Senate Democrats reached agreement on a bill that would give an additional 14 weeks of benefits in all 50 states, and another six weeks on top of that to those in states with the 8.5 percent unemployment rate. The national unemployment rate is 9.8 percent.

Currently, a laid-off worker in a high unemployment state is entitled to up to 79 weeks of state and federal assistance. The average payment is about $300 a week. Supporters of the extension say it is necessary in an economy where 15 million unemployed are competing for 3 million jobs.


Source Sac Bee

September Home Sales

Source Sac Bee

Placer Valley Wine & Art Festival & Dance Party

Saturday, Oct 17 6:00p to 11:00p
at Fountains at Roseville, Roseville, CA

Placer County's wineries are getting ready to pour their best vintages as the countdown for the 2nd Annual Placer Wine & Art Party continues. The gala event at Fountains at Roseville on Saturday evening, Oct. 17, will feature wine tasting with 14 Placer County Wineries. But the fun doesn't stop there, Three big-name bands will perform continuously on stage, and some 50 renowned area artists will display their works along Main Street at the Fountains. Let's get the party started! Be There!
Price: $15.00
Phone: 1-800-773-0522
Age Suitability: 21 and up

Source Sac Bee

Storm subsides, but power outages, mess remain

The wind has subsided and the torrential, sideways-blowing rain is gone, but remnants of Tuesday's storm have been keeping utility and cleanup crews busy restoring power and clearing the mess.

At 6 a.m. 12,817 Sacramento Municipal Utility District customers were still without power. Crews worked all night to restore widespread outages that at the storm's blustery height knocked out power to 90,000 customers.

Carmichael resident David Schlaufman was one of those waiting for the lights to come back on at his residence.

"It's been out all night," he said.

Schlaufman, who said he is concerned about frozen food in his refrigerator, is wondering if the outage would last several days or be a short power failure.

Cities and communities where customers were without power included Sacramento, 2100 customers; Carmichael, 2,119 customers; North Highlands, 1,449; Arden Arcade, 1,385; Citrus Heights, 1,315; and Fair Oaks, 1,078.

"We don't have an estimated time on when everyone will be restored," said SMUD spokesman Robert Tokunaga.

Pacific Gas & Electric also had no estimated time for restoration of power in its service area, where 91,000 customers remained without power. Among the counties near Sacramento where PG&E customers were without electricity were Yolo County, 2,325; Nevada, 1,555; Placer, 4,685; and El Dorado, 3,820.

The section of Interstate 5 between downtown and Old Sacramento was clear with no standing water present this morning. An old pipe clogged with debris on Tuesday during the storm, backing up traffic on the part of the downtown freeway where the state spent $40 million for repairs.

On surface streets, city employees who worked in the pouring rain Tuesday to clear downed limbs and felled trees were at it again -- but this time in better weather.

Joe Benassini of the city of Sacramento said crews will be out in force this morning on the second day of major clean-up from the dramatic winds that toppled more than 300 trees or major branches in Sacramento on Tuesday.

Benassini said crews Tuesday cleared streets for travel and today will be clearing major branches and brush from sidewalks and curbs.

He cautioned that budget cuts will make the task slower and asked residents for patience.

"Everybody is a little understaffed," he said. "We are not going to get this thing cleaned up in hours. It's more a matter of days."

The early commute brought numerous crashes around the region, including a big rig that lost its trailer and was blocking a lane eastbound Interstate 80 at Highway 50 in West Sacramento. Tow trucks were on scene at 6:20 a.m.

CHP's Rich Wetzel said drivers still need to be careful this morning.

"It is not raining in most areas, but the roadways are still slick," he said, "and people are not adjusting their speed for the conditions."

As part of the storm clean-up, CHP beat officers will be checking storm drains this morning and reporting problems to Caltrans.

"We know exactly where the problem spots are," Wetzel said. "Often, the officer is the first one to unplug the drain."

The worst is over, but the National Weather Service reports scattered showers today and some strong winds in the morning gusting up to 35 mph.

"Showers may be heavy at times," meteorologist Felix Garcia said, but they will taper off throughout the day and the sun may even make brief appearances.

Better weather is headed in by tomorrow, with temperatures in the mid-70s.

"It's looking good for the rest of the week," Garcia said.

Tuesday's rains set records in Stockton, Modesto and Red Bluff, but fell short in downtown Sacramento.

Nevertheless, downtown Sacramento on Tuesday totaled a whopping 3.04 inches in 24 hours - from 4 a.m. Tuesday until Wednesday morning.

"That's like 450 percent of normal, honestly," Garcia.

Sacramento's all-time record for the day was 3.63 inches in 1962.


Source Sac Bee

Congratulations~

Congratulations Katie Duke on becoming a broker!

25,000 without power as storm batters Sacramento region

The wet and windy storm that's moved into Northern California has brought widespread electrical outages, roadway flooding and a growing number of reports of falling trees and limbs.

At one point, there were 25,000 customers without power in the Sacramento Municipal Utility District, said spokesman Chris Capra. Crews were responding to about 100 separate outage incidents.

Sacramento registered 1.44 inches of rain as of 1:15 p.m. Wind gusts up to 45 mph were reported at Sacramento International Airport.

Northern California is expected to experience a fairly strong storm with 1 to 2 inches rain predicted in Sacramento, according to Johnnie Powell, forecaster for the National Weather Service in Sacramento.

ON THE ROADS

Caltrans reports it is about to block the fast-lane on southbound I-5, beginning at 12:30 p.m., for what officials say should be 90 minutes while crews work to free up a blocked drain pipe in the center median that is causing flooding on all five lanes. A drain on a nearby shoulder has been cleared, but six inches of waters to cover the road. While the freeway remains open, but traffic is backed up.

Caltrans rebuilt the storm drain system on that section of freeway last year. Dinger said those pumps are working, but debris collected over the summer apparently is clogging the drains.

"We have a pretty big traffic jam out there now," Caltrans Mark Dinger said.

Meanwhile, the CHP is reporting a rash of noon-hour collisions on local freeways and streets. They include a non-injury accident blocking a lane on northbound Interstate 5 downtown and a crash on westbound Interstate 80 east of Truxel Road. There is freeway flooding reported also on a section of Highway 99 just south of Martin Luther King Boulevard.

California Highway Patrol reports flooding on eastbound Highway 50 at the connection to I-5 near West Sacramento.

Interstate 5 and Seamas Avenue reopened at 11:45 a.m., Caltrans reports. A big rig traveling southbound about 6 a.m. crashed at Seamas near the South Land Park area. Two lanes of northbound I-5 were closed for commuters heading into downtown Sacramento, and traffic was backed up several miles to Hood-Franklin Road.

At one point during the morning, the Sacramento Traffic Management Center's incident page reported a tree down across the roadway at Gerber Avenue and T Street, a truck spinout on eastbound Interstate 80 just west of Marysville Boulevard, traffic signal lights out in Orangevale, and a blown electrical transformer that set a utility pole on fire along Jackson Road.

Around the Sacramento region, winds and rain had caused all kinds of problems, said Gonzales of the CHP. "Boulders are in the roadways, trees are being knocked down and limbs are in the streets. Motorists should be very aware. All the problems related to weather are here."

Commuters from Elk Grove reported drives up to two and a half hours into downtown Sacramento.

POWER OUTAGES

SMUD crews are making headway restoring electricity to thousands of customers throughout the region, with the lights going back on for more than 15,000 of them so far.

Late this morning, SMUD officials estimated more than 25,000 customers were without power because of the winds that lashed the region in the first major storm of the season.

But spokesman Chris Capra said at about 2 p.m. that about 9,600 were still without power and that 13 line crews -- consisting of four to eight workers each -- and 21 individual troubleshooters were out trying to restore power.

"We've got plenty of bodies on the street," Capra said. "It's just a matter of getting them to the areas where they're needed."

There was no large single area without power, Capra said, adding that spot outages were being reported throughout the region, where SMUD serves more than 592,000 customers.

"I have no real concentration (of outages)," he said. "These are very widespread, from the dozens to the hundreds."

As of noon, Pacific Gas & Electric was reporting 34,000 customers were without power in Solano, Yolo, Colusa, Sutter, Yuba, Nevada, Sierra, Placer and El Dorado counties.

Source Sac Bee

2009 Pumpkin Patch Map

It's October and Halloween is right around the corner.
Enjoy the map and hope you find the perfect pumpkin!


Source Sac Bee

Work to start on new Sacramento light-rail route

It may look like the train to nowhere. But Sacramento Regional Transit officials are convinced it's an example of how to do transit right.

Despite financial woes, RT breaks ground next week on step one of a long-standing plan to build light rail from downtown to Natomas and, eventually, the airport.

The first step is a short one, running a lonely mile through vacant land from the county courthouse at Eighth and H streets to a terminus amid warehouses and back offices in a largely industrial area on Richards Boulevard.

Extension of the line over the American River is unlikely to happen before 2014, the airport connection not before 2017, RT officials said.

Until then, the little starter line to the corner of Richards and Seventh Street will be left to stand on its own.

For RT it represents a ride into the unknown at a tough time.

Cost estimates jumped from $37 million to $44 million at the last minute, forcing the agency to scramble to borrow money.

RT does not have money in its current budget to run trains once the line opens � expected in November 2010 � but RT officials said recent fare increases and internal cuts should free enough to fund a modest two-train line until the economy improves.

"Better to get these projects in place now," RT General Manager Mike Wiley said. "It will be more expensive later."

The bigger mystery, however, is how many riders will board the trains in an area where few now live and where redevelopment is only beginning.

RT officials acknowledge ridership numbers will be low at first. Fewer than 300 boardings per weekday are projected at Richards Boulevard in the first year � less than at the RT rail system's other terminus stations.

Sacramento City Councilman Ray Tretheway, an RT board member, brushed that aside, saying he is excited that for the first time light rail will go in first, then will help shape development.

"The risks were weighed, and I think we made the right call," he said. "To have transit there first is huge."

Typically, RT has wedged new light-rail lines into developed suburban areas, arriving as an afterthought to communities of car commuters.

By going in first, planners say, light rail and its stations can become focal points of new, urban-style, transit-oriented communities.

"It gives us opportunity to establish transit as the mode of choice as people move in," Wiley said. "It's a new test for us."

Mike McKeever, head of the Sacramento Area Council of Governments, the regional transportation planning body, said he will be watching with interest.

"It can actually play a role in transforming the land use in the area," he said.

When that happens is uncertain. With the economy down, officials said they don't know how long it will take for development to hit stride.

Several area landowners said they are laying groundwork now for dense housing, office and retail development near the rail line.

They hope to attract what developer Steve Goodwin calls "urban pioneers" � young couples and empty-nesters � who want to live near downtown and the river, and use transit for some daily travel.

Goodwin's project, called Township 9, will be directly linked to RT's Richards Boulevard light-rail station. Goodwin's company will help pay for the station.

The Township 9 development, when built out, could have 2,300 dwelling units near the station, mixed with offices and neighborhood stores.

"Yeah, it's a risk for RT, and a risk for us, but those are the kinds of risks required to spur development in areas that are landlocked," Goodwin said.

The city of Sacramento already has moved some offices into the Richards area, and the California Highway Patrol will have moved nearly 1,000 employees to a new headquarters there by the end of this year, officials said.

The huge downtown railyard is slated to become a development of housing, offices, stores and entertainment venues in the next decade. RT plans to add a light-rail station to its line through there as development occurs.

For now, the line's two trains, each with one car, will start near the 13th Street station between R and Q streets, run on existing lines among other trains to Eighth and H streets, then set out on their own up Seventh Street to Richards.

Planning for the line � called the Green Line � has been on fast-forward for a year, but RT had to jump a sudden hurdle last month when construction bids came in high.

The new estimate, $44 million, forced RT to borrow from a developer-fee account and from funds set aside for future improvements on the Gold Line to Folsom. The bulk of construction money is coming from RT's share of local Measure A transportation sales tax funds.

Getting the line built soon may turn out to be important for another financial reason, RT officials said.

RT is considering going to the ballot in November 2010 to ask Sacramentans to help finance more transit projects. Wiley said he wants the Green Line built before election day, to show voters the agency can get projects built, even in hard times.

Recent delays getting financing may have put that in jeopardy.

"I am not ready to give up yet that we will have a ribbon cutting prior to an election," Wiley said. "It is an extremely aggressive schedule."

Other transportation officials in the region have said a November 2010 funding request from voters may be too soon, and say 2012 may be a more realistic option.


Source Sac Bee

California gains stimulus funds for broadband Internet

California will receive some of the first federal stimulus money to close the so-called digital divide, but it's angling for much more.

On Monday, the U.S. Department of Commerce's National Telecommunications and Information Administration awarded the first four grants under its State Broadband Data and Development Grant Program.

The California Public Utilities Commission landed about $1.8 million to collect and verify the availability, speed and location of broadband Internet service across the state, plus $500,000 for broadband planning costs over four years.

Indiana, North Carolina, and Vermont also received grants totaling about $4.5 million under the program.

Sunne Wright McPeak, president and CEO of the California Emerging Technology Fund, a nonprofit group underwritten by four merged phone companies to oversee one effort to expand the use of broadband, said Tuesday that California's award is a good start but that the state is hoping to receive as much as $1 billion in additional stimulus money to expand broadband service statewide.

"We hope it's going to happen over time," she said. "This particular pot of money was processed separately, but there's much more yet to be awarded."

The competition among states for the big money is enormous. McPeak said there are $28 billion in applications from states, nonprofit groups and others for an available $4 billion.

To complicate things further, several federal agencies are involved in the process. McPeak said the first round of larger awards likely won't be announced until late November or early December.

One of the key considerations in the process will be what constitutes a rural area, and how best to bring broadband service to those regions.

That issue also was emphasized in a report released Monday by Valley Vision, the nonprofit Sacramento-based think tank. The three-month Regional Broadband Scoping Study investigated ways to improve digital access in the six-county Sacramento region.

The study said regional businesses, particularly in health care, stand to benefit from high-speed, digital access, but current assets are "underutilized and there is no cohesive strategy to improve the status quo."

Valley Vision's study noted that "broadband is the education backbone for the region, critical to bridging the digital divide for both parents and children, and to foster economic development. Yet many rural school districts lack broadband access and availability ... "

The federal stimulus money for expanded broadband service is a byproduct of a key Obama administration goal: getting more Americans hooked up to high-speed Internet.

California's situation is typical of the nation. About 96 percent of California households have access to a high-speed Internet connection, but 45 percent of residents don't have broadband connections in their homes because of geography, disabilities, a lack of English skills or poverty.

Most of the state's 4 percent lacking broadband service are in less-populated rural regions that aren't financially attractive enough to lure big companies.

McPeak pointed to studies showing that the faster the Internet connection, the more people will use it. She said it's unacceptable that almost half the residents of a state with California's reputation for embracing cutting-edge technology are not hooked up to broadband.

Check out our new podcast at www.housetalkonline.com



Source Sac Bee

Perspectives 2009 at Convention Center

Perspectives 2009, which the Sacramento Metro Chamber of Commerce bills as its premier business networking event, will be Friday at the Sacramento Convention Center.

Speakers for the 15th annual event include former Secretary of State Condoleezza Rice, financial commentator Jane Bryant Quinn, "Flags of Our Fathers" author James Bradley and columnist/entrepreneur Guy Kawasaki.

Ken Robinson, an award-winning writer and international consultant, has been named as a replacement speaker for Howie Long, the former standout defensive lineman for the Oakland Raiders.

Perspectives 2009 will be from 10:30 a.m. to 4 p.m. Tickets are $195 for chamber members and $245 for nonmembers.

To register or obtain more details, go to www.metrochamber.org/perspectives or call (916) 444-1919.

Source Sac Bee

Cooler fall weather blows in this weekend

It will feel like fall in the Sacramento Valley this weekend, but folks in the Sierra can expect wind, rain and possible snow flurries.

"If you are headed to the mountains, you should be prepared for possible winter conditions," said Holly Osborne, a meteorologist with the National Weather Service in Sacramento.

Dry, gusting winds of 50 mph are forecast today for the Sierra, reaching as much as 85 mph on ridgetops. Because of the winds, Osborne said, red flag fire warnings will be in effect until 4 p.m. on the east side of the Sierra, including the Lake Tahoe and Reno areas.

Possible showers this afternoon could turn to snow tonight, with dustings down to the 5,000-foot elevation. Because the ground is relatively warm, Osborne said, little accumulation is expected.

In the Sacramento area, highs will be in the mid 70s today, dropping to about 70 degrees Sunday. Winds from the south will pick up today, but will be replaced by 10 mph to 20 mph winds from the north tonight.

Temperatures are expected to climb back into the high 70s and low 80s by the middle of the week, Osborne said, noting that the average temperature in the Sacramento area this time of year is 84 degrees.

The Red Bluff and Redding areas also will see cooler weather this weekend with highs around 70 degrees today and in the low 60s Sunday. Winds from the north will range from 10 mph to 25 mph. Highs are expected to return to the mid 70s and low 80s by mid-week, Osborne said.

Source Sac Bee

Fall is finally here! Enjoy the rest of your weekend and stay warm!

KB Home aids schools with gift of computers

Los Angeles-based KB Home partnered with Sacramento Mayor Kevin Johnson to deliver more than 50 computers to the Elk Grove Unified School District on Thursday.

KB Home employees delivered donated desktop and laptop computers, along with keyboards and flat-screen monitors.

District officials said Johnson's office worked with officials of the district and KB Home to facilitate the donations after learning of the district's need for computers.

Source Sac Bee