2005 HOUSING AND ECONOMIC OUTLOOK

Do you want to know what the housing and economic outlook going to be like in 2005? Freddie Mac has announced the housing and economic outlook in January. In short the housing market will be slower but remain strong than 2004. Please click here for the article.

File your tax online for free this year!

Save money by filing your tax online for free. Several tax return filing software makers partner with the IRS to offer free online tax filing. Unlike previous years, there is no restriction. Please click here to find out how your can file your fedreal tax for free now.
If you want to learn how to save on your tax, you can find resource on my website. Please visit my "financial & tax services" page. Now it's good time to prepare another great year ahead.

Celebrating The Year Of The Rooster -

Chinese New Year is just around the corner, Feb. 09, 2005 to be exact. Parties are alreay planned for the celebration. I know two Chinese events will be held over the weekend in Sacramento.
The first one is at the Elks Lodge this Friday evening. The event consisted of entertainment, dinner and dancing. The attendance is invitation by Elks Club members. Anyway, by now it's too late, all tickets are sold.
Not to despair though, there is another great party will be held at California State University Sacramento on Saturday. The ticket is only $3. I believe it will be a fun party not to be missed. Stage program features traditional lion dance, martial arts, children games, music & ethnic dance performance, karaoke singing contest and much more. The event will last from 11am to 10pm. Interested? for more information, please visit: http://www.CNYCAsacramento.org.

News From California Association Of Realtors (CAR) -

CALIFORNIA HOMESELLERS RELY ON INTERNET
The percentage of sellers using the Internet as a significant part of the homeselling process has increased dramatically, according to C.A.R.'s 2004 Survey of California Home Sellers. In 2004, 47 percent of homesellers relied on the Internet to obtain a variety of information, including comparable prices and information about the housing market, neighborhoods and REALTORS®. This is nearly four times the percentage of Californians who used the Internet during the homeselling process in 2003.
Even as usage of the Internet increased, many sellers felt the information they received from their REALTORS® was more useful. The survey revealed that telephone and face-to-face communication gained importance, as client satisfaction among sellers largely depended on effective communication with their agent.

CALIFORNIA HAS LEAST AFFORDABLE RENTS IN NATION
Residents of the Golden State must earn at least $44,000, or $21.24 an hour, in order to afford the Fair Market Rent of a two-bedroom apartment, according to a study released by the National Low Income Housing Coalition. The report, "Out of Reach 2004," compares the Fair Market Rent, the amount the U.S. Dept. of Housing and Urban Development estimates a household should expect to pay for modest rental housing in a particular market, to the rent households earning the area's median income can actually afford.
California tops the list as the least affordable state for renters hoping to spend no more than 30 percent of their wages on housing costs. Nine of the 10 least affordable counties in the nation are located in the state, led by San Mateo, Marin and San Francisco counties. Renters must earn $61,000, or $29.60 an hour, in order to afford a two-bedroom apartment in those markets, according to the report.

Calif. median home price - Nov. 04: $473,260 (Source: C.A.R.) Calif. affordability index - Oct. 04: 19 percent (Source: C.A.R.) Calif. highest median home price by C.A.R. region - Nov. 04: St. Barbara So. Coast $1,175,000 (Source: C.A.R.) Calif. lowest median home price by C.A.R. region Nov. 04: High Desert $248,320 (Source: C.A.R.)

December 31, 2004 is a very special date for my clients Mr. Lee and his Wife. They are the owners of Polly's Cafe in Galt, CA, but not for long, and they are very happy about the change of ownership. December 31, 2004 is not only the end of year 2004, but also the last day of business for Polly's Cafe, the true mom & pop business. Finally, after working more than 20 years running the breakfast and lunch cafe, the husband-wife team decided to retire and sell the restaurant business along with the property.
While I was finalizing the paper work with the buyer and the buyer's agent, many loyal customers showed up to say fair well to Mr. & Mrs. Lee. Even the town's newspaper sent someone over to write up a news story on this "historic" event. Normally the cafe closes at 2:00 pm, but they had to close the door at 12:00pm, because they ran out of food for the guests.
I still remembered how Mr. Lee contacted me to discuss about selling his cafe. He told me the reason he chose me is because he trusted the Coldwell Banker name. While running the American style breakfast-lunch cafe, Mr. & Mrs. Lee also enjoy Chinese food. They especially like the Hong Kong Style Chinese restaurant (New Hong Kong Wok) located on Freeport Blvd., in Sacramento. While he was contemplating on selling his cafe, he saw my business card at the restaurant and decided to give me a call and the result is perfect timing for him and his wife's retirement. "No more waking up at 4:00am and now we can sleep as late as we like..." Mrs. Lee said while smiling.
While Mr. & Mrs. Lee want to retired, the new owners of the cafe are getting ready reopen the business soon after the renovation. They want to keep part of the original menu and will expand the operation to include dinner. The main menu will be Chinese food from what I heard. I like to wish them the best of luck and a prosperous new year ahead.
Polly's Cafe is located on A Street and N. Lincoln Way, downtown Galt, CA.