The Follow Up on the Recent Rent Control Article

They are kicking the can down the road for a while

Folks, this is a contentious issue in California’s coastal areas such as the San Francisco Bay Area and of course down in the Los Angeles area.

The City of Alameda has recently conducted a few city council sessions on this issue.   You gotta believe there’s been some “off the record” negotiations going on behind closed doors among a couple of the council members in my opinion.rent contol

No matter which way they are going to go… there are some issues I hate and one of them is the so called “just cause” or “no cause” eviction they want to enforce as part of this deal.

This issue would change the law so that you can’t just ask a tenant to leave at the end of a lease or after giving notice to terminate on a month to month agreement,  which is often a great tool to get rid of a problem tenant.

In our area,  Sacramento, if you have a tenant that is consistently late on rent, is abusive and wasteful of the unit and otherwise doesn’t follow the rules…?  Your “best option” now is to terminate the tenancy and there’s no defense in most cases on an expired lease or month to month agreement.   The tenant has to move because there’s no “just cause” requirement here in the Sacramento Region.

That changes in Alameda with this new law their going to impose it seems.   You’d have to go to a board or commission they will set up making it harder and more costly to get rid of bad tenants.

They are also talking about paying a tenant’s “moving expenses”.   How would you like to have the requirement..?

Anyway… CLICK HERE for the article that describes the meeting I wrote about on January 5th and what they decided to do for now.   More to come later.

Bottom line…?  Stay away from Rent Controlled areas if you are an investor.   If you are thinking of Investing in a Rental Property, be it a single family home, a Duplex, a Four-Plex or even an Apartment complex we can help.   Call me or send me an email today.  My contact information is below.    The Sacramento Region is growing and we do not have rent control.

 

In the Mean Time…?

Make it a Great Day…!

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

Rent Control Is Rearing It’s Ugly Head Again – Not Yet in The Sacramento Region

Too Much Regulation – Kills the Housing/Building Industry

I have to pass on this article I got from the San Francisco Business Times. There’s a big meeting in the City of Alameda tonight that is so contentious with the anticipation of a large gathering, they moved it to a High School Auditorium.

English: City hall. 2263 Santa Clara Avenue. A...
English: City hall. 2263 Santa Clara Avenue. Alameda, California, USA (Photo credit: Wikipedia)

I’ve written about this issue before… not sure if I put here on this blog but for sure at our Property Management Facebook Page back in November 18th of last year.  The link I posted was also a follow up to the earlier Alameda City Council meeting where the “3 options” referred to are going to be the subject of tonight’s big do.    You can bet there will be lots of media there.

Here’s a “solution” that I wanted to share again with you from a Bay Area Attorney, Christopher Hanson, the Hanson Law Firm.

I think his ideas and solutions are much less onerous for Landlords and “spreads the pain around” in such a way that it doesn’t kill the incentive to build more units which is the reason Rents are going up, including in the Sacramento Region.

Come back here tomorrow and I’ll have the follow up.   I’m curious to see how Alameda handles this issue.

If you are thinking of Buying or Selling and Investment Property in the Sacramento Region, please call me at 916-203-1260 or drop me a note at favinger@rwnetwork.com

In the Mean Time…?

Make it a Great Day….!

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

 

Rising Rents Going up Faster than Inflation – Good If you’re an Investor

If You’re a Renter – Might be Time to Buy Instead

I don’t know how many times over the last several months I’ve discussed the fact the rents have really begun to take off.  Graph-going-up My favorite quote to people looking for a place to rent and to people who’ve asked about the Sacramento and Folsom Rental Market is, “you almost have to know somebody to find a decent rental”… especially if its in a nice area.

It’s not just me saying this either because it’s been in the news from several different sources.

Click here to get the Google Search Results of “Rising Rents in Sacramento Region” to see the number of sources to make my point.   Oh and by the way… it’s the same just about every where in the country.

The simple fact is they haven’t kept up with the housing demand for new units.

For a bit of humor on the subject and a “look inside baseball”  for another type of perspective..?  Click Here to see a video from our guys at the National Real Estate Post.  

Most Real Estate professionals have heard of these gentlmen and subscribe to their video updates.   Now even if you are a “civilian”… you know,  not part of the Real Estate Industry..?   You can still subscribe to keep up to date and idea of what is taking place in the Mortgage Lending business and Residential Real Estate Sales.

So if you are thinking of Investing in a Residential Rental unit I think you’ll have to agree with me that now might be a good time to get in.   Call me at 916-203-1260 or send an email to me at: favinger@rwnetwork.com and we’ll see if we can’t find the right kind of Investment Property in the Sacramento Region that works for you.

If you’re a Renter…?   Call me because I can help you find the best deal possible.   We’ve been helping buyers locate and purchase their 1st home for many years so put our experience to work for you today.   Call me at 916-203-1260 and we’ll discuss your situation.

In the Mean Time…?

Make it a Great Day…!

Ed Favinger, Broker CRS, GRI, SFR, CDPE

 

 

Sacramento – Residential Investment Real Estate – Good For the Small Investor

The Key of course is buying a property in a “growth area”.

I left the San Francisco Bay Area back in 1989 which was about the top of the market back then before there was an “adjustment” in Real Estate prices a few years later.   Others would call that part of the 90”s a “Downturn”.

The Sacramento Region since that time has shifted some what from being a Government and Housing driven market to something more “diverse” with some decent paying private sector jobs.

If you’re an investor in Residential Real Estate, be it a Single Family home, a Duplex/Four-Plex or even an Apartment complex, you have to have jobs and job growth if you want Real Estate rental prices to increase and of course by extension, potential “resale” values to grow.

Because we had another “downturn” caused by the Bank meltdown of a few years ago, construction of new projects pretty much came to a screeching halt.   Only recently have we seen builders begin the process of constructing new home, but not much in the way of “rental type” properties such as apartments.

Rents in this area have gone up dramatically and in Folsom where our office is, our Property Management company has no shortage of rental applications if the property is in good condition and located in a desirable area.   If you want to rent a nice pad in Folsom or Roseville for example, you almost have to “know somebody” to get one.  I’ve written about this many times, so click here for an article about rents in the area.

The “driver” of this phenomenon is,  as I mentioned above, our increasingly diverse economy here.

Click here for short article that makes my point.   This is old news of course to those of us that live here.  The article gives you a quick view of some of the “hi-tech” companies  located here, expanding here or moving here.   These are companies that most of you have heard of too.

So….. If you are thinking of making an investment into this area, then please contact me and I’ll give you the “Chamber of Commerce” tour of the area including work centers, recreation areas and neighborhoods.     After you’ve seen the growth in Sacramento, Roseville, Folsom, El Dorado Hills, Elk Grove and Rocklin, you’ll see why many of us have decided to not only invest here… we live here.

In the Mean Time…?

Make it a Great Day…!

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

 

Are We in a Real Estate Bubble…?

Update on the 10 Hotest Real Estate Markets – Analyzed Here.

I have had more than one person ask me if we were in another Real Estate Bubble.   I know that anechdotally, prices here in the Sacramento/Folsom area where I practice real estate and property management, have gone up.

We see it all the time in higher re-sale prices and big time increases in what you can charge for rents in just about every category, from apartments, duplexes and single family homes.

In my opinion this is going to be the trend for a while here in this area,  because builders have not kept up with demand and are only now starting to ramp up with some new construction.

So…. I got this article that I thought I would share with you from HousingWire.com.

Is there a housing bubble brewing on the West Coast?

HottestMarkets

 

Let me know what you think.   Now in my opinion if you are a Real Estate Investor in the Residential rental market, I think we have a few years of growth left.

Call me today at 916-203-1260 if you are thinking of getting into the Residential Investment Market in the Sacramento, Roseville, Folsom areas.

Don’t forget, we also do Property Management and if you purchase your investment property through us, we’ll give you the 1st 3 months of Property Management service free.

In the mean time…?

Make it a Great Day…!

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