Realty World – Franklin Real Estate Group – Ed Favinger, Broker CRS, GRI

Short Sales Slow Down Closings – Cash Is Still King

I am noticing that the number of  Duplex/Four-Plex investment properties that are now Active for sale or “Active Short Sale” is almost equal to the number of properties that show a status of Active Short Sale – Contingent (which means there’s a contract waiting for bank approval) or Pending Sale, which means it’s in escrow now.

Prices don’t appear to be dropping but the table below will show you how much the Short Sales are taking to close.  Their Average Days On Market is very high when you compare it with the other statuses.   The reason behind this is because of Buyer frustration at the long wait for the underlying banks to approve the Seller’s short sale payoff.   

Buyers will keep looking while they are waiting for a Seller’s lender to complete the process that can take over 6 months in some cases.  So many times they will walk away from a deal to find one that can give them an answer on their offer now.   This in turn requires the Seller to place his property back on the market, which increases the average days on market.

Check out the Duplex Profiled Below.

I have been a big fan of this street, Imran Drive in the Arden area,  for a long time.

Click Here for a Flyer & a Pro-forma Cash Flow analysis on 2300 Imran Drive, Sacramento, Ca

If you have questions on this property or any other investment in the Greater Sacramento Region, drop me a note or call at anytime.

Make it a great day…

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

Outdoor Rooms, Playgrounds and Trails are high on the list like the one shown below in the Serrano area of El Dorado Hills. 

It seems folks are looking for ways to get more utility value from their homes because these things don’t cost a lot.  There are other things the article spoke about, so for more on this, Click Here for the Article

Make it a Great Day…

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

 Cash May Be King – But You Might Be Paying More

I’ve put together the latest Closed Sales Report for the month of January 2010.  As usual you’ll see there is a lot of cash floating around in the Sacramento County Duplex/Four-Plex Market.    But… if you look at the statistics below the average List Price/Sales Price Ratio shows that on Average, Cash Buyers have been paying more.

That’s kind of amazing…   isn’t it…?

Check it out.

I’ll have the entire closed sales list posted later today hopefully.

Make it a great day..

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

Sacramento Bee’s Recent Update Here

If you own a rental or are in the Property Management business, this is really old news.   Take a look, they aren’t long reads.  I’ll have more comment later.

Home Front: Asking rents in Sacramento region retreat to 2004 levels – Sacramento Business, Housing Market News | Sacramento Bee

Home Front: California unemployment ticks up

Make it a Great Day…!

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