Who knows but it seems every home or duplex that I have taken a look at has had multiple offers.
The Sacramento Bee today comes out with another story in today’s paper about how “cash is king” in home shopping.
Anyone who has been in the Real Estate business as an Agent or Broker has known this for a while now. If you are an Investor or Home Buyer that has been searching in this market to make a purchase in the last few months, the SacBee story didn’t say anything new to you, did it..?
So let’s take a look at a couple of properties here that I’ve recently seen. One is a single family home in Elk Grove that is next to a home that I listed last May at 2220 Yarnell Way. By the way, we had 13 offers on it. The other is a Duplex near the Carmichael Area.
The House – 2216 Yarnell Way, Elk Grove – a monster 3 bedroom 2.5 bath with a large bonus room that should be converted to a 4th bedroom if you are an investor looking to rent it out. It’s listed at $225,000 and has 2600 sq ft of living space. The listing agent said he’s not going to look at any offers until the 5th of September, so you have time.
The Duplex – 5208 – 5210 Shereen Court, Sacramento, Ca – A large duplex with 3 bedrooms 2 baths & 2 car garage with a 2 bedroom 2 bath & 1 car garage that is listed at $259,000. I personally think this is a little high but in this market who knows. When I did the walk through I noticed a business card from another agent was left on the kitchen counter so I sent her a “text message” asking her for her opinion. She also thought it was too high but did say her client was going to write an offer on it.
Click here for a “pro-forma” cash flow analysis based upon the existing rents in the occupied unit & rents at $1,000 for the 2 bedroom 2 bath unit.
Oh and by the way… These properties above just came on the market a few days ago.
Make it a Great Day…!
Ed Favinger, Broker CRS, GRI, SFR, CDPE 916-203-1260 firstname.lastname@example.org