The Sacramento Region is #11 in the Top 20 List of Hottest Real Estate Markets

Thinking of Investing in Residential Real Estate…?  Sacramento is not a bad choice…!

I got an article that was forwarded to us by the California Association of Realtors that contained a news link to Realtor.com.

If you’ve spoken to any real estate professional in our area recently,  you’ll pretty much get the same story,  the market is skinny of listings and prices are still climbing.

That’s especially true for Residential Rental Properties, like Duplexes, Four-Plexes and Apartments.   In Folsom where I live it’s almost like you have to “know somebody” to get a decent rental.   Our Property Management Company maintains almost 350 units of various kinds throughout the region.   Vacancies are down and rents are up.

If you have been to this site before you know I specialize in Rental Properties.   If you’re an investor and haven’t jumped in the market in the last couple of years there’s still time because every article I’ve read indicates rents are projected to rise a lot the next few years.

CLICK HERE FOR THE LIST OF THE HOTTEST 20 HOUSING MARKETS IN THE COUNTRY

 

In the Mean Time…?

Make it a Great Day..!

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

 

Do You Think This Duplex is Something You’d like to Buy.

I Think The Owner Missed an Opportunity

Here’s a picture I took of a duplex located at 9664 Lake Natoma Drive, Orangevale, Ca.    They are asking $299,900 with rents at $950 & $1025.

9664 Lake Natoma, Orangevale, CaEach unit is a 2 bedroom 1 bath with single car garages.

Since I own a property across and down the street a bit when it came on the market I thought I’d swing by and see what it looked like.

My original thought about this blog post would be to point out the poor curb appeal and how it might affect the sale of this property and therefore the rest of the immediate area of Duplexes.

The listing agent was marketing as a property needing a little “TLC”…

My initial reaction was that this property was over priced based upon my visual from the street and from some of the interior pictures.   However this duplex is in a great area.   If you look at the aerial by clicking here you’ll see how close it is to the City of Folsom,  Lake Natoma recreation area and the trail system, lots of open space, nearby restaurants & local shopping along with easy access to the Highway 50 corridor.

With all that I felt was negative about this property, yesterday it was reported on the MLS as a Pending Sale after only 15 days on the market.   The Seller’s agent would not disclose the contract price to me or even if it was close to the list price or at a discount.   He says “we’ll have to wait” until it closes.

The point of this article…?    Click Here for the street view taken of this property back in 2012.  Don’t you think like me, that in the 3 years since that “street view” picture was taken,  the Seller could have at least planted a couple of trees and kept vehicles out of the landscape strip to the left of the driveway.

Yes parking is a problem in our area, but as an investor, why not help improve the property & the neighborhood.  The owner could have added another few feet of driveway with still an area for a planter along that strip.

9669 Lake Natoma Drive

With some “minimal planning & little more investment”,  you could easily make this a much more attractive place to live, get higher rents and thereby helping to keep the values up in what could be a nice area.

Click here for a slide show of what a duplex could look like front and back.

I’d like your feedback.    Let me know what you think.

In the Mean Time…?

Make it a Great Day…!

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

 

 

Curb Appeal of Investment Properties & Why You Should Maintain it.

A strong landscape maintenance regimen should be part of your plan.

I’m always amazed how little value some owners/investors assign to a well maintained landscaped front yard, even though it’s the first thing prospective tenants and Buyers see when they pull up for a look.

I have some pictures here to show what I mean.   We’re in the process of marketing the Twin Pines Apartments at 2755 El Caprice, Rancho Cordova.  el caprice #1

The owners of this complex have spent the last couple of years improving this property which is right across the street from the new Folsom Lake College annex building.

A few days ago I drove by a duplex next door to us located at 2743 El Caprice and saw a beat up looking truck on the grass.  This is what it looked like when I took the picture of it below.

Do you think this helps my Sellers in their quest to market their apartment complex?

Do you think the poor condition the owner allows the tenant to get away with is something neighbors on either side would like to live next to…?

The Duplex Next Door

Do you think any Buyer/Investor is going to take into account the poor curb appeal of the surrounding properties and maybe discount the value of this street more than if it was in a more “pleasant looking” condition…?

If you’re thinking of selling a home, I think everyone knows that curb appeal is something written about all the time as a big item to put on the “to do list” in preparation.

So if that’s true, why would it be different for an investment property like a Duplex, Four-Plex or an Apartment complex….?

By the way, do you think the owner of this duplex allows her home she lives in to look like this..?   The answer is no because I took a copy of this picture you’ve seen here to her.   She’s a a local investor and trust me her front yard didn’t look anything like this.

If you have followed this blog site for any length of time, this has probably been one of my passions over the years.

If you’re an investor, please don’t be one that just wants to take all the money out.   Put some value back into your investment by creating a nice curb appeal that will draw the best tenants to you.   They will pay you more in rent because they know you care about the property and so they will get that message and help take care of it too.

It also brings the value of the entire neighborhood up if everyone on the street did the same.

In the Mean Time…?

Make it a Great Day..!

ED FAVINGER, BROKER CRS, GRI, SFR, CDPE    916-203-1260   favinger@rwnetwork.com

The New Water Conservation Rules – Folsom

Pretty Much The Same…With Some Changes

 

shutterstock - california drought

 

I thought I’d pass on the City of F0lsom’s Website posting regarding the new water use reduction rules because of the ongoing drought.

 

CLICK HERE FOR THE UPDATE

 

Have you started saving water yet…?  Have you put the bucket in the shower to save for your plants…?

 

They also have a great App that you can track your water usage in Folsom called Dropcountr.

 

Take a peek at that app and let me know what you think.

 

In the Mean Time..?

 

Make it a Great Day…!

 

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

 

 

 

 

More News – The Hot Sacramento Multi-Family Market

This is a follow up to my blog post of a couple of days ago.

The most recent news and opinions regarding  Multi-Family Apartment units has been that “cap rates” have been going down.   I also believe that those same metrics work for smaller properties.   As I’ve pointed out several times before,  rents have been and are going up if you’ve got a property in good condition with amenities.

Just about every Duplex or Four-Plex I’ve been involved in has had multiple offers which is an indication of a pent up Investor demand.   Our Property Management unit reports an overall vacancy rate of our portfolio is under 5%.

If that’s not the definition of a Seller’s market and a Landlord’s market then let me know when there is one.

Well lo and behold,   Ben van der Meer a real estate staff writer for the Sacramento Business Journal posted the following article earlier today.

Hot multifamily market affecting desired properties, urban core rents

More evidence that there’s some momentum in the Residential Investment market again.

 

Make it a great day…!

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

916-203-1260      favinger@rwnetwork.com