Folsom or El Dorado Hills Home Prices Are a Bargain…!

San Jose’s Median Home Price – $800,000 range – Folsom/El Dorado Hills = More Home for Much Less.

Prior to moving to  Folsom in 1989, my family sold an 1800 sq foot  home in San Jose for $300,000 and thought we’d robbed a bank in doing it.Home Prices in San Jose - Compare with Folsom & El Dorado Hills

Our new Folsom home was new in the new neighborhood of Lexington Hills.

A brand new 2500 sq.ft. home that included a pool and spa for under $220,000.

It’s plain to see  you can buy much more home for a lot less money in Folsom or El Dorado Hills then you can in San Jose or anywhere else in the Bay Area.

Today’s market is the same and I think we’re about to experience another wave of Bay Area buyers coming to our area to scoop up some homes here that would make a “Central American Dictator” proud.

Check out this article I got from the Silicon Valley Business Journal to see what I’m talking about.

If you live now in San Jose or anywhere else in the Bay Area, Click Here for a list of homes in Folsom and Click Here for a list of homes in El Dorado Hills and let me know what you think.

Some fun facts about our area;   We’ve got awesome weather.  We’re close to the Bay Area and Lake Tahoe.   If you like wine tasting, you don’t have to drive to Napa.  Just check out next door Amador County.   If you have school aged children, trust me, moving to this area was the best thing I ever did for my family because we’ve got great schools with lots of activities and superior academics.

If you are from San Jose or any where else in the Bay Area and thinking of relocating, call me and let me give you what I call the “Chamber of Commerce” tour of the area.   I can help you find the home of your dreams, or… if you’re an investor we also specialize in the Sales and Management of Single Family homes, Duplexes, Four-Plexes and small to medium sized Apartment Complexes.

In the mean time…?

Make it a Great Day…!

Ed Favinger, Broker, CRS, GRI, SFR, CDPE   916-203-1260    favinger@rwnetwork.com

 

Quick Market Update – Sacramento Duplexes for sale

Multiple Offers Still Going On…

I had the opportunity of working with a couple of investors that made offers on a couple of Duplexes for sale in our region.   One of the Duplexes for sale was at 4932&4934 Saddlerock, Sacramento and the other Duplex for sale was located at 2641 Capitales, Rancho Cordova.

In both instances the Sellers received “multiple offers”.   The buyer on the Saddlerock Duplex actually made an offer well  over list price but didn’t get in 1st position.  However, they were later able to get into escrow with this property after the Buyer with the top offer withdrew from the deal.

Sometimes the 1st offer in doesn’t complete the deal.

The other Duplex for sale on Capitales had 5 offers and we wound up on top with that one.  Interestingly in that deal the Listing agent told me that out of the 5 offers, 3 of them were prospective “owner occupied” purchases.   I think you’ll see as prices of single family homes go up, folks will turn to this option, live in one side and rent the other.

In both cases we  were required to have a Lender Pre-approval letter and Proof of Funds.   Proof funds is important because if you are going to compete with “cash offers”, you have to show you can pay the difference if the appraisal doesn’t come in at the Sale Price of your offer.

So if you’re thinking of Selling, Buying/Investing get in while the rates are still low and don’t be disappointed if you don’t get the first deal you make an offer on.

In the mean time…?

Make it a Great Day..!

Ed Favinger, Broker CRS, GRI, SFR, CDPE  916-203-1260   favinger@rwnetwork.com

Sacramento Area Adding Jobs Good News for Real Estate Investors

Adding Good Jobs Help the Housing Market.

If you are an “out of area” Investor or a potential buyer looking to move into this area, you’ll want to know if there’s an economy here that’s adding jobs.

If you were to own a rental it’s nice to know that there will be jobs here so that people can afford to pay the rent you will charge them.   This is true if you own a Duplex, a Four Plex, an Apartment complex or even a Single Family rental home.  If they don’t have jobs they can’t pay the rent.

I thought I’d share this short article from the Sacramento Business Journal to illustrate the economy here.

Chinese solar company to establish McClellan plant, bring 200 jobs

This story is a prime example of what “re-use” of some former Military Bases in the Sacramento area that were closed in the 90’s, Mather AFB and McClellan AFB.  jobs

Mather is now a commercial center and is also being used as an “air freight” facility while McCellan has a mix of industrial uses.

As a Real Estate Investor it’s nice to know that your investment in this region would be a good one that will grow in value because we’ve got the jobs here as well.

If you are thinking of Investing, Buying a home here, or Selling a property here, please call me at 916-203-1260 ( I take text msg’s too) or drop an email my way at Favinger@rwnetwork.com

 

In the mean time…?

Make it a Great Day

Ed Favinger, Broker, CRS, GRI, SFR, CDPE

 

Sacramento Duplexes for Sale Prices Going Up & So Are the Rents

A Fair Oaks Duplex Fixed Up Gets Multiple Offers

While I specialize and look for Sacramento Duplexes for sale all the time, I  have taken notice  now for a while  there is a thirst in this market for Sacramento Area Duplexes in great areas like Fair Oaks that are fixed up and renovated.

Not only do you get top dollar when you sell, you can place a new tenant in the units at much higher than their past history.

Case in point is the Duplex you see below.    I got a “google street view” of the property taken last year that is embedded here so  you’ll be able to zoom in and check out the neighborhood if you want to.

Looks like the roof might have had some issues and they fenced it off for security purposes while they made their repairs.

It consists of a 3 bedroom/2 bath/2 car garage on one side and a 2 bedroom/2 bathroom/1 car garage on the other.  It Listed at $399,000.

There are only a couple of pictures of the property in the MLS which is a shame,  but you can see they did fix up a kitchen pretty nicely.

If you click here you’ll get an MLS flyer that shows some of the information about it.

This property came on the market about 3 days ago, had 5 offers and is now a Pending Sale.

If you are thinking of Buying or Selling a Sacramento Duplex, Four-Plex, a small Apartment complex or even a Single Family Rental, please call or “text” me today at 916-203-1260 or drop me an email at: favinger@rwnetwork.com

n the Mean Time…?

Make it a Great Day….!

Ed Favinger, Broker, CRS, GRI, SFR, CDPE

 

 

Why You Should Be Investing in Sacramento Single Family Houses, Duplexes, Four-Plexes & Apartments…?

It’s a Landlord’s Market Right Now – And It’s only February – Now is the best time to buy .

Have you thought about Investing in the Sacramento Area’s Single Family Home Rental market, or maybe a Duplex, perhaps a Four Plex or even a Small Apartment Complex…?   If you have, then let me show you how smart you would be if you were to buy in the Sacramento market today.

Usually this  time of year when  a tenant moves out and we have to get it re-rented it’s kind of slow and takes a little longer.   Not this year though.

Our Property Management Company, Haven Properties has leased up in the month of January approximately 10 units.

That inventory included Single Family Home rentals in Folsom, Citrus Heights, a couple of 4 plex apartments in Rancho Cordova and several Duplex  rentals in Citrus Heights, Sacramento and Fair Oaks.

20170116_145857
1089 Kantne Way, Folsom – Recently Leased up for $2,300 + Tenant Pays Folsom Utilities

Want more examples…?

Earlier today we had a gentlemen walk into our office with paper work to support his application that he had completed “on-line” at HavenRents.com.

We’ve had people call us regarding properties we’ve leased up over a month ago that are still on-line in various website portals that we syndicate to.

Another lady called me about 10 minutes ago as I write this looking for a house while she’s been living in a hotel for 3 months.    I told her what I’ve told a lot of people trying to find a decent rental…“you have to almost know someone inside to find a decent place to rent.”

Bottom line, if you own a rental property now and you haven’t raised the rents in a while because you are worried about losing a tenant and not being able to re-rent again quickly…?

Forget about it because, mostly likely,  the current tenant will stay unless they can’t afford it.   The reason…? Once they start looking around, they will see they have a really good deal even if they have to pay a little more.

So… if you’re thinking of Investing in a Duplex, a Four-Plex, a Single Family Home rental or even a small apartment complex call me today and let me help you get the right Real Estate Investment for you.

Interest rates are low if you need financing.  If you have a lot of $$$ in a low performing 401K, you might want to consider Rental Real Estate to see if it would perform better.

Please call or email me and let me show you how investing in the Residential Rental Market might be the best thing you ever did.

 

In the Mean Time…?

Make it a Great Day…!

Ed Favinger, Broker, CRS, GRI, SFR, CDPE       favinger@rwnetwork.com     916-203-1260