Sacramento Rental Rate Increases Highest In California…

Surrounding Suburbs, Folsom, El Dorado Hills, Roseville Affected too.

We’ve been experiencing Rental Rate Increases for a long time here in the Sacramento Region.  This includes not only Sacramento, but the surrounding communities as well, such as Elk Grove, Roseville, Woodland, Folsom, El Dorado Hills, Lincoln, Fair Oaks, and Carmichael to name a few.

The Sacramento Bee has a story today regarding Rent Rate Increases.  They are primarily talking about the Downtown/Midtown area which has experienced a “renaissance” because of the development in and around the Golden One Center.

Sacramento Rent Increase Rates Highest in the State of California
Sacramento Rent Increase Rates Highest in the State of California

The Sacramento Midtown Area has been very popular with the younger generation and some seniors because of the proximity to jobs, entertainment and restaurants.

As I have said in the past you almost have to “know somebody inside” to be able to get a decent rental these days.

To give you an idea of how strong the rental market is, we seem to average about 5 applications for every property we advertise.

An example of what I am talking about…?  As of today, July 26, 2017, here’s a short list of a couple of Duplex apartments being advertised by our Property Management Company with pending applications we are processing now.

Note to Duplex Investors or for that matter, any Residential Real Estate Investors from Single Family Homes up to Apartment complexes.   You’ll have several applications to rent if you decide to invest in the Sacramento area.

Until they start to build more Apartments and Homes this trend will continue given the great economy we have going at this time.

If you’re thinking of buying/investing in the Sacramento area, please call me at 916-203-1260 or send me a note at favinger@rwnetwork.com and let me help you find the best deal out there today.

If you’re an owner now and thinking of selling, contact me and let’s take a look at your investment property.   I can help you get the most out of your investment with some ideas you might not have considered.

In the Mean Time…?

Make it a Great Day…!

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

Landlords Market in Sacramento Area – Bad News If You Are a Renter…!

Rents Are Up “Big Time”…So Start Your Search Early ..!

 

If you’re a Landlord/Investor in the Sacramento Area and recently tried to lease or rent up an apartment you were probably shocked at the responses.  Old news to us in the Residential Investment and Property Management business.rental search

Rents are up so much in the Sacramento Area and supply so low,  if you’re a person looking to rent, you’d better start your search very early and have any credit issues resolved first, because it is a “landlords market”.

You may not have heard but Landlords and Property Managers are experiencing “multiple” applications for just about every unit that comes up.

It doesn’t matter what kind of property we’re talking about either.   Our Property Management company has so many people seeking a Home/Apartment to rent that we have set  up a  “showing/viewing” schedule each week posted on the website instead of making specific appointment times when prospective tenants call.

On most occasions now days we have several prospective tenants come to those showings and many of them will bring a completed application as well.

This kind of Landlord’s market will make most investors smile.   So if you are thinking of getting into the Residential Investment market, this is a great time.   No one seems to know when the rise in Rental Rates will stop because there’s a lack of supply.

With an improving economy with lots of jobs and a lack of supply,  even paying more for the investment won’t necessarily be a bad thing.

Call me at 916-203-1260 or drop a note to favinger@rwnetwork.com and we’ll see if we can’t place you into an investment that works for you.

Now… If you are a prospective tenant with good income…?  May I suggest you think about buying because it will be better for you in the long term.    Call me and we’ll see if we can’t get you “pre-qualified” with the various loan programs that are available to you.

In the mean time…?

Make it a Great Day..!

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

 

Sacramento Duplexes for Sale Prices Going Up & So Are the Rents

A Fair Oaks Duplex Fixed Up Gets Multiple Offers

While I specialize and look for Sacramento Duplexes for sale all the time, I  have taken notice  now for a while  there is a thirst in this market for Sacramento Area Duplexes in great areas like Fair Oaks that are fixed up and renovated.

Not only do you get top dollar when you sell, you can place a new tenant in the units at much higher than their past history.

Case in point is the Duplex you see below.    I got a “google street view” of the property taken last year that is embedded here so  you’ll be able to zoom in and check out the neighborhood if you want to.

Looks like the roof might have had some issues and they fenced it off for security purposes while they made their repairs.

It consists of a 3 bedroom/2 bath/2 car garage on one side and a 2 bedroom/2 bathroom/1 car garage on the other.  It Listed at $399,000.

There are only a couple of pictures of the property in the MLS which is a shame,  but you can see they did fix up a kitchen pretty nicely.

If you click here you’ll get an MLS flyer that shows some of the information about it.

This property came on the market about 3 days ago, had 5 offers and is now a Pending Sale.

If you are thinking of Buying or Selling a Sacramento Duplex, Four-Plex, a small Apartment complex or even a Single Family Rental, please call or “text” me today at 916-203-1260 or drop me an email at: favinger@rwnetwork.com

n the Mean Time…?

Make it a Great Day….!

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

 

 

Why You Should Be Investing in Sacramento Single Family Houses, Duplexes, Four-Plexes & Apartments…?

It’s a Landlord’s Market Right Now – And It’s only February – Now is the best time to buy .

Have you thought about Investing in the Sacramento Area’s Single Family Home Rental market, or maybe a Duplex, perhaps a Four Plex or even a Small Apartment Complex…?   If you have, then let me show you how smart you would be if you were to buy in the Sacramento market today.

Usually this  time of year when  a tenant moves out and we have to get it re-rented it’s kind of slow and takes a little longer.   Not this year though.

Our Property Management Company, Haven Properties has leased up in the month of January approximately 10 units.

That inventory included Single Family Home rentals in Folsom, Citrus Heights, a couple of 4 plex apartments in Rancho Cordova and several Duplex  rentals in Citrus Heights, Sacramento and Fair Oaks.

20170116_145857
1089 Kantne Way, Folsom – Recently Leased up for $2,300 + Tenant Pays Folsom Utilities

Want more examples…?

Earlier today we had a gentlemen walk into our office with paper work to support his application that he had completed “on-line” at HavenRents.com.

We’ve had people call us regarding properties we’ve leased up over a month ago that are still on-line in various website portals that we syndicate to.

Another lady called me about 10 minutes ago as I write this looking for a house while she’s been living in a hotel for 3 months.    I told her what I’ve told a lot of people trying to find a decent rental…“you have to almost know someone inside to find a decent place to rent.”

Bottom line, if you own a rental property now and you haven’t raised the rents in a while because you are worried about losing a tenant and not being able to re-rent again quickly…?

Forget about it because, mostly likely,  the current tenant will stay unless they can’t afford it.   The reason…? Once they start looking around, they will see they have a really good deal even if they have to pay a little more.

So… if you’re thinking of Investing in a Duplex, a Four-Plex, a Single Family Home rental or even a small apartment complex call me today and let me help you get the right Real Estate Investment for you.

Interest rates are low if you need financing.  If you have a lot of $$$ in a low performing 401K, you might want to consider Rental Real Estate to see if it would perform better.

Please call or email me and let me show you how investing in the Residential Rental Market might be the best thing you ever did.

 

In the Mean Time…?

Make it a Great Day…!

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

Sacramento Apartment Market Projections – 2017

Just passing on an article and information I just received.

If you’re thinking of getting into the Multi-Family Housing market as an Investor and you’re new at it, I’m sure you’ve thought a lot and hopefully have done some research.   You can always contact me for more information and set up a time for a free consultation.

The Sacramento Apartment Market is one of the top 20 in the nation and is still affordable especially compared to some markets in the San Francisco Bay Area.

In our market we find it’s hard to find a 2 bedroom 1 bath apartment unit with lots of amenities for under $1,000 per month.

To get an idea of what we have for rent go to HavenRents.com and you’ll get a sense of what the prices are for various types of properties we currently have available.   You can also go to the “rentals page” here on this site.

I received and thought I’d share a 2017 market projection from CBRE, a large real estate investment company that works in Retail, Office, Industrial and of course Multi-family projects through out the the country.

CLICK HERE for that article and go to Page 31 for their “Multi-Family” projections.   I think you’ll appreciate their findings and conclusions.   It looks to me like the Sacramento Region’s Multi-Family market should remain strong.   I think this remains especially true in the smaller multi-family units, such as Duplexes, Four-Plexes or small apartment complexes.   Why…?  Because they haven’t built any in the last several years.   Sacramento Duplexes/Four-plexes for sale don’t stay on the market very long.

So if you have stumbled on this blog site and are thinking of investing in the Residential Real Estate Market in the Sacramento area please contact me at anytime.    We specialize in the Sales and Management of Single Family Homes, Duplexes, Tri-plexes, Four-plexes and small to medium sized apartment complexes.

In the Mean Time…?

Make it a Great Day…!

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