Rates Can Still GO LOWER – Believe it or Not..!

See Frank and Brian – The National Real Estate Post Update

If you want to keep up in the Real Estate world, you might watch these guys from time to time because they do have interesting perspective… Then, after you watch the video below,  sign up for their updates.

If you’re looking for a new home or investment property it helps to have a finger on the pulse of the market and these guys are just one source.

frank and brianThey do regular Real  Estate and Mortgage Loan updates during the week.   I can’t watch them all but the headline today did catch me so I had to “point and click”  to check out what they had to say.

They deliver some great information and a little humor as well thrown in.

I think you’ll find this video worth the time and if you like these guys…..? go sign up for their updates.. !  You don’t have to be in real estate or the lending business to get on their list.

The “relevant” point regarding rates starts at the 3:56 mark

I think you’ll come away with the idea it’s not a bad time buy.  Rates for “investment” properties as of yesterday were at the 4.375% and “owner occupied” at around 3.50-3.75%.

If you’re renting, rents are going up and buying a home is actually “cheaper”… so you might want to consider getting into home now.

In the Mean Time…?

Make it a Great Day…!

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

 

Be a Real Estate Investor, Not a Slum Lord…!

If You Own Rentals, Don’t Ignore Stuff.   These people did and now they’re on the Front Page above the fold in the Sacramento Bee.

In fact you’ll be surprised how much attention you’ll get.

I thought I’d share my thoughts on this issue.   When you buy any kind of Residential Rental property, don’t ignore repairs and always keep up and maintain your property.

If you don’t maintain your property and are like the folks that are the subject of these videos and the news stories, you’ll get lots of the same negative publicity and worse big time law suits.

Reminds me of a story from a few years ago.   An Apartment Complex in Rancho Cordovo had some of the same issues as here.   Guess what…?  They lost their investment… lawsuits and foreclosure besides being on TV and in the News.  CLICK HERE  for that story I wrote about a while back.

The Solution – Professional Management

As a Property Manager and Investor you’ll be glad you hired us or someone as good as us to make sure your properties are well maintained and in “compliance” with the various codes.

If you ignore issues on your property… which is what Slum Lords are accused of,  together with the tight supply of rentals and rising prices out there…?   Trust me you’ll be part of the problem that will invite more and more government oversight.  Not just on you, the Slum Lord, but on the rest of us that invest in Residential Real Estate but maintain our properties.   Is that what we want as an industry, more government involvement…?

 

Here’s the original article from Sunday’s Sacbee.   Check out the videos below.

 

You also get on Local TV

 

My advice is to keep some reserve so you can not only maintain it, but improve upon it as well.    Make your investment an asset to the community by putting something back in.

If you need Property Management help, then call us today.

In the Mean Time

Make it a Great Day

Ed Favinger, Broker CRS, GRI, SFR, CDPE

 

Are we in a Bubble…? Not According to the Affordability Index…!

bubble_mania

No One Knows for sure… But Here’s some Stats You Should Look At…!

I remember the Real Estate Market back in 1989 and of course the big crash in 2007-2008.

If you want my opinion…?  I don’t think we’re there yet.   If you look at the links below, you’ll see what I’m talking about.

In 1989 I moved here from the Bay Area and the Index then was I believe about 19% of the folks living there at the time could afford to buy the median priced home with 20% down. Here in the Sacramento Real Estate market it was about 49% back then.

When we got to the top of the market in say, late 2004,  the index was way down through out the state. I’ll let the indexes below give you the data.   Take a peek at them and then decide for yourself if we’re in a bubble.   I think you’ll be surprised at what you’ll see.

Let’s talk about FIRST TIME BUYERS – it’s even better for them.

Bottom line is while interest rates are low and prices are going up some, there’s plenty of demand for Residential Real Estate.  There are plenty of Buyers out there but not much inventory to choose from.

If you’re thinking of buying and you’re worried we might be in a bubble, historically speaking we have a ways to go.

If you’re thinking of Selling you’ve probably heard from more than one source how low the inventory is so call me to get the latest valuation of your property.   We specialize in Single Family Homes, Duplexes, Four-Plexes and Small Apartment complexes.   If you’re in Investor, we also do Property Management.   So give us a chance at your business today.

In the Mean Time…?

Make it a Great Day…!

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

 

Buying a Home In Folsom – Sacramento’s Coolest Suburb

It’s Not a Big Secret To Those of Us Already Living Here – We Already Knew Folsom is the Coolest Suburb..!

If  you are reading this Blog for the 1st time and you’re from out of the area, moving to Folsom, Ca is an idea you should consider.   Hey most of us came here from out of the area, especially the Bay Area.

It was the best move I ever made for my family.    We’ve got it all… Great Neighborhoods with Parks, Playgrounds, bike/walking trails… Schools that are 2nd to none and even our own Zoo.

I just thought I’d share a recent Sacramento Business Journal Article about us.    CLICK HERE FOR THAT ARTICLE

If you’d like to see what the homes are like in  Folsom, CLICK HERE. 

I’ve got some links below with various topics including some pictures… you’ll see why we choose to live here.

CLICK HERE FOR SOME INTERESTING SHOTS

FOLSOM CHAMBER

FOLSOM LIVING

COST OF LIVING IN FOLSOM

ANOTHER GREAT DAY IN FOLSOM, CA

UNCLE  VINNY’S TOP 10 FEATURES OF FOLSOM CA

I could post several links on here about our town but I think you have the idea.

So…. if you’re thinking of moving to Folsom and buying a home here, let me offer you the “chamber of commerce” tour.

I’ll show you the neighborhoods, the work centers, the recreation, the schools, the zoo and the old town.

You won’t want to leave.    Call me at 916-203-1260 and let me help you find the home of your dreams.

In the Mean Time…?

Make it a Great Day…!

Ed Favinger, Broker, CRS, GRI, SFR, CDPE       favinger@rwnetwork.com

 

Sacramento Duplexes for Sale – Some Recent Sales Statistics – Prices are Up…

I’m seeing a little bit of greed set in with these stats… More below

 

One of the things I’ve noticed in a rising market and a market where buyers are king,  is the consistent failure of a lot of these Investors going out of the business because they hate maintenance issues and dealing with the tenants.   It doesn’t matter if the market is tight like it is now with low inventory or flooded with Sellers trying to get out.stats

I’m going to profile a local investor in the next few days and show you not only how much he’s improved his potential cash flow because of the care and maintenance of his properties, he’s been a factor in improving the surrounding neighborhoods as well.

You’ll come away with the realization that maintaining a quality rental will get you the best tenants paying the absolute highest in market rents no matter if you’re in a rising or stagnant market.

The Stats…    However, I know the purpose of this post was to show you some statistics for 3 zip codes we’ve had a lot of experience not only in the sales side,  but also in managing the rentals there as well.

These “stats” are Duplexes only for those zip codes, 95670, 95826, 95827.    While I’ve been involved in the greater Sacramento Region in sales of income properties, I kind of like this area because it’s along the Highway 50 corridor.

_________________________________________

Following Data is from November 1,  2015 to Date, April 20, 2016
For Zip Codes – 95826, 95827 & 95670
Closed Sales Data – 9 Sales Closed Sales Data – 12 Sales
in Zip Codes 95826 & 95827 in Zip Code 95670
Average Price  $302,201 Average Price  $260,092
Highest  $350,000 Highest  $286,000
Lowest  $259,008 Lowest  $198,000
Median  $293,000 Median  $270,000
 Active On the Market Now – 4 Pending Sales – 5
In all 3 zips -95826, 95827 & 95670 95826, 95827 & 95670
Avg List Price  $305,000 Avg. List  Price  $308,450
Highest  $329,900 Highest  $350,000
Lowest  $274,990 Lowest  $269,900
Median  $305,000 Median  $303,000

BOTTOM LINE…   As you can see there’s not much available Inventory…

So if you are thinking of Selling a Duplex in one of these or any other zip codes/areas of the Sacramento Region, call me.

If  you are not happy with your cash flow give us a call because we are the “turn around specialist” for small rental properties in the area.

 

In the Mean Time…?

Make it a Great Day…!

ED FAVINGER,  916-203-1260 favinger@rwnetwork.com