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

 

“Cap Rates” on Residential Investment Properties Going Down…?

There’s a lot of money looking for Residential Investment Real Estate

I got this article from a Multifamily Executive, an online trade magazine I subscribe to.

The article among other things discusses the “capitalization rate” of some investment properties in various parts of the country and how the old rules of thumb in evaluating a deal don’t seem to be relevant in today’s market.

Click Here for the article

Now while the author of the piece is discussing large multi-million dollar deals…. the metrics he’s talking about apply to Residential Investment Real Estate on the smaller scale as well.

I’m seeing multiple offers on Duplexes and Four-plexes here in the Sacramento Region that are beginning to remind me of the market about 10 years ago. An example I’ll cite here is a Duplex we just closed escrow on located at 10206-10208 South White Rock Rd., Rancho Cordova.    We listed it at $259,000 with a Cap Rate at just a shade over 6%.

With multiple offers coming at this one, the price ultimately wound up at $273,000 and the Buyer, in addition to that, accepting about $4,000 in “deferred” maintenance regarding some dry rot issues on the exterior.

If that result is not the definition of a Seller’s market I don’t know what is. Just thought I’d pass on the good news if you’re thinking of Selling.

In the Mean Time…?

Make it a Great Day..!

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

A Bank Owned Duplex – Rancho Cordova

This one is 3 bedrooms, 2 baths each side.

I ran across this Bank Owned Duplex for sale in at 3100-3102 Laurelhurst a couple of days ago and thought I’d profile it here.

With 3 bedrooms 2 baths on each side, this one will go fast and I suspect for a lot more than the list price of $227,500.

Click Here for the Proforma Cash Flow Analysis I prepared

The video of this property is below – Let me know what you think

 

If you are in the market for a Duplex that will cash flow, this might be the one you are looking for.

 

In the mean time…?

Make it a Great Day…!

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

 

 

 

A Duplex Just On the Market and Another Multiple Offer Situation…!

This one got 7 offers in less than a week…!

We placed the Duplex at 7983-7985 Marsala Court on the market in the middle of last week and as of today we have had 7 offers and the phone is still ringing.

IMG_0597

 

This is the 3rd Duplex I’ve placed on the market within the last 30 days.   One of the threads that has been consistent in these situations is that these Duplexes all had a decent enough income to give a cash and had Pride of Ownership to go with it.

For a copy of the cash flow figures of this Duplex Click Here.

The Sellers  just accepted an all cash offer that was well over the list price and we’re now moving forward with the “due diligence” period and we’ll see what develops on the way to the closing.

If you are thinking of buying a Duplex or a Four Plex in the Sacramento Region or you are thinking of Selling, give me a call.

There are still great deals out there if you are a buyer and if you are tired of being a landlord, now might be the time to think about Selling.

 

In the Mean Time…?

Make it a Great Day….!

Ed Favinger, Broker, CRS, GRI, SFR CDPE