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If you thinking of Buying, Selling or Investing, give me a call and let me show you how to get the most $$$ for your Home or Investment.     Call me at 916-203-1260 or by email at:   favinger@rwnetwork.com

In the mean time…?    Make it a Great Day…!

 

Are You an Apartment Investor…? You’re not alone…!

Rents are going up… Prices are going up..

This news hasn’t reached a lot of people yet, but apartments seem to be the next big thing.   The reason, as most pronosticators in real estate will tell you. is that the Millennials have not decided yet to get into the “home buying” mode.

Instead they are opting to rent.   They like areas such as Sacramento’s Midtown area which has an eclectic atmosphere that not only includes apartments but also restaurants, coffee shops, bars, night clubs and of course a close proximity to lots of jobs in downtown.   Don’t forget we have the new sports arena currently under construction there. http://livinginurbansac.blogspot.com/2012/08/finished-la-valentina-project.html

In addition since the great recession around the area I live, Folsom, Ca, they are just now starting work at catching up in the demand for new housing.   As you can surmise, affordable rental housing is a hot item pretty much across the board.

I know in our Property Management business, we rented out a single family home in Empire Ranch within a day or so of it hitting the market.   Another example to share with you is we recently represented a small investor that purchased a Duplex through us. He immediately raised the rent on one side from $800 to a $1,000 and the other from $1075 to $1175.

Below, to make my point, are some recent articles from various sources.  By the way.. click on the picture above here to catch some photos of some nice projects in Sacramento.

Region’s biggest apartment complex changes hands for reported $62M - Sacramento Business Journal

Investors Keep Piling into Aparments -National Real Estate Investor

Sacramento region leads nation in apartment occupancy increase - Sacramento Business Journal

You’ll notice in some of those articles that these investors intend to fix these up and “drive rents”.   If you’re a small investors, say Duplexes, Four-Plexes or small Apartment complexes, please take note because those dynamics work for you too.

Let me know what you think and in the mean time…?

Make it a Great Day…!

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

 

Folsom Sales Figures – Still Holding Steady…!

Costs Per Sq. Ft & Days on Market haven’t changed much.

I know people are interested in figures and graphs so I thought I’d put this update here. I have a couple of graphs here the one directly below shows the List Price/Sales Price Ratio and the Average “Days on Market”.   It clearly shows that the market has remained pretty steady with a notable big pick up last June and a bit of a slow down after, which has remained largely the same since. It will be interesting to see what happens the rest of the year now that rates are down some. Days on Market & List Price Sales Price Ratio This graph below shows the average “costs per sq. ft.”  has also remained pretty steady.   While there’s been a little swing up or down, nothing major.   TGChartImage (4) - Copy

Are you curious what your home might be worth and would like a quick answer to a “ball park” number…?  Get a glance and see what you might get by CLICKING HERE.

 

In the mean time…?

Make it a Great Day…!

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

When Selling a Home or Investment Property – At Least Upgrade the “Curb Appeal”

The Drought is not an “excuse” to stop maintaining your landscaping.

If you have followed this blog for a while or if you have just found it, you’ll know from my past posts that I think the one thing many investors and even home owners over look or put in a lower priority is the landscaping… especially the front yard.

Many people will make a snap decision on the spot whether or not to buy or rent or even get out of the car when they first pull up. First impressions are important don’t you think…?

Case in point is a Duplex that just came on the market a day or so ago located at 7937-7939 Tangors Way, Citrus Heights, Ca.  I had to just laugh when I saw the price because I know the area and specialize in Duplexes.

In addition, the fact that there are no “front yard” pictures provided to the Multiple Listing Service kind of gave me a clue there’d be a “surprise” for me. I drove by to take a peek and I’ve got a video here below for you.

The agent describes this property with words such as “well maintained” and “in great shape”.

Take look at the video tell me what you think…?

 

It doesn’t take much really to make a property stand out.

What about planting some trees and shrubs…?

This investor is not the only one.   I wrote about a Duplex in Roseville where the investor did the same thing… which was nothing to the landscaping in front or the back yard, but promoted the “large back yard” as a good thing.

CLICK HERE FOR THAT STORY….

I’d appreciate your feedback… Let me know what you think…  Am I being too critical…?

In the mean time…?

Make it a Great Day…!

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

Do You Want To Know The Reason I am Bullish On Folsom and Sacramento Real Estate..?

It’s All About “Affordability”…!

 

I want to pass on the numbers of the recent report provided by the California Association of Realtors regarding the 2nd quarter “affordability index”.affordabilty index

Click Here for the 1st Time Buyer’s Affordability index data and you’ll see we have a healthy market and that should be around for a while yet.   The reason I’m confident of about the future market is the history of this index to the market.

When I moved to Folsom from Santa Clara County (Silicon Valley) back in October of 1989, the Affordabilty Index was a lot different.    If you look below here you’ll see the Traditional Affordability Index back then.  This index is based upon a buyer with a 20% down payment for the “median priced” home.

Area/Region 1989

California      23%

Sacramento  40%

Santa Clara   19%

As you can see above,  when I moved to Folsom 40% of the folks living here at the time could afford to buy the median priced home, compared to only 19% in Santa Clara County.    The point of all this…?  There was a bust in Real Estate shortly after in late 1990 and 1991 that lasted a couple of years.   The same thing occurred in late 2005 and early 2006 when we saw the Affordability Index drop big time because of price appreciation.

Today, you’ll note,  from the 1st time buyer’s index above, affordability is really not a problem right now is it…?  Therefore, you’d think with all things being equal,  we’ll have a decent real estate market for a while before we have some kind of correction.

Things could change of course, interest rates going up or other economic factors out of our control, but overall…?   I think we’re in for a couple of good years.

In the mean time…?

Make it a Great Day…!

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