How’s the Real Estate Market…?

Foreclosures At a 20 Year Low

I get this question all the time from people asking me “how is the real estate market?”.

The short answer is, Great…!

I have some links below that will give you some insight but in the greater Sacramento Area I think it’s one of the best I’ve seen.   Why do I say that…?

Have you tried to get a contractor or handyman to fix something at a rental…?  When you’ve got contractors busy with a back log of weeks out, that’s probably one of the best signs of a great real estate market.

 

Click Here for an article regards the low Foreclosure Rate.

And if you’re an investor curious about rents, click here for that article.

Aerial shot of Folsom, California with Folsom Lake in background.
Aerial shot of Folsom, California with Folsom Lake in background.

If you’re thinking of getting into the market for a new home or you are an investor looking to purchase your first rental property or you want to add to your portfolio, please call/text or email me at anytime.

 

Looking for a Duplex to buy…?   I’ve got one that you should take a peek at.   Click Here for the information on this Bread and Butter Property waiting for you.

 

 

In the Mean Time…?  Make it a Great Day…!

Ed Favinger, Broker, CRS, GRI, SFR    916.203.1260   favinger@rwnetwork.com

 

Is This a Good Sign That Real Estate is Back in Sacramento….?

I think so… especially when you see this kind of news.

 

HOME DEPOT SET TO HIRE 1500 IN THE SACRAMENTO REGION

You have to agree if these large big box corporations like Home Depot are on the hiring binge, they must have a lot of confidence they are going to need this many people to accommodate their customers.

I noticed here in Folsom, that you can go to the local Home Depot, Lowes and Orchard Supply and you’re going to find a lot of people in there doing some shopping.

This is the spillover effect of a good real estate market for Home Buyers and Sellers along with residential investors.

What do you think…?

 

In the Mean Time…?

Make it a Great Day…!

 

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

 

 

Just Passing On a Video – “Another Stick in FHA’s Spokes”

The same old story… I’m from the Government and here to help you…!

You know folks, when it comes to real estate in this country the Federal government’s Housing and Urban Development (HUD) Department never ceases to amaze us.

I thought I’d share this video Brian Steven and Frank Garay that explains it all.   Click on the image below to see the video and then let me know what you think.

Logo of the Federal Housing Administration.

 

 

 

 

 

 

 

In the Mean Time…?

Make it a Great Day…!

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

 

 

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A HomeSteps Bank Owned Duplex in the Rosemont Area – Just On the Market.

Priced Well Below Some Recent Sales Just Around The Corner

While lately there hasn’t been much in the way of Duplex inventory come on the market, when they do, I get out there as soon as possible to see what kind of condition it’s in.

target=”_blank”>click on the picture to see the video

This one located at 9647-9649 Arlisson Drive, Sacramento, 95827 sits among other Duplex properties and has a great location near some shopping and Hwy 50 access.   It has a 3bed/2ba/2car and a 2bed/2ba/1car configuration.

This one is perfect for an “owner occupied” situation where the owner lives in one side and rents the other.  I think if you were a young person starting out,  it would be real smart to rent out the 3 bedroom side and live in the 2 bedroom side of this Duplex.   However the figures I have below fit the scenario that the 2 bedroom side would be rented and the 3 bedroom side would be occupied by the owner.

Click Here to see how cheap you could live in this Duplex for such a small down payment using an FHA loan

If you are an Investor, you’ll have to wait about 15 days til approximately January 17th before you’ll be able to make a run at it,  because they are offering this property to “owner occupied” folks first.   After that… then the investors get a shot if it’s not sold by then to a Buyer that wants to live there.

Click Here to see the “pro-forma” cash flow analysis if you were to purchase this as an Investment Rental.

By the way… Click on the picture to get a Walk Through Video I did today around 11:30 or so today

In the mean time…?

Make it a Great Day…!

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

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Update on Some Recent Duplexes, Four-Plexes & Homes That Have Been Profiled Here….

I’m Still Amazed At the Amount of Investor Interest There is for Duplexes.

 

Here’s a list of properties that I have profiled in the past.  Some in the last few weeks and others earlier in the year.  I wanted to make this update because I’ve been busy working with some folks that have failed to get an offer they have submitted approved.   That’s because of the competition for quality investments.   It’s a frustrating experience for Buyers.

You know,  while you might hear stories out there from the State and National Network News regarding the lousy economy, areas like the San Francisco Bay Area and the Sacramento Area along with the Coastal Areas of Southern California are doing a “robust” business when it comes to real estate.

“Multiple Offers” are the normal course off events when a new listing comes on the market.  I’ve written about it,  I think,  for well over a year now.  Others in my business have also expressed the same experiences.   There are areas of exception of course,  but I’m referring to, I guess, for lack of a better term, “the preferred” areas… the areas that I have been to the most and written about here.

I’ve also included some properties I may not have written about before as well.   The purpose behind this is to show you how much work many of them may or may not have needed to get into a “rent ready” condition.

So if you are out looking now for an investment property whether it’s a Duplex or a Four-Plex you’ll hopefully get an idea of what other investors have done and have been up against like you.

The Following Are Closed Transactions:

2358-60 Imran Court, 2bd/2ba/1car & a 2bd/1ba/1car – Listed at $180,000 – Was a Short Sale – closed escrow 11/20/2012 Sold for $180,000 target=”_blank”>Click Here for the video   which was uploaded 1-8-2012.  The wait to close this short sale was worth it.  You can’t find a duplex like this for the price they closed it at.

6604 Summer Rain Way, Citrus Heights, 2 bed/1 ba each side – A “flip” that I thought was listed too high back in August at $214,888 – It finally closed just  a couple of days ago, Dec. 20th,  at $201,800.    Rents were only at $750 on one side – we manage a duplex just like this one just two doors away from here and get $950.     target=”_blank”>Here’s the video of the vacant side

Here’s some that just came on the market and are now “Pending Sales”

6535-37 Hazel, Orangevale, Ca, 3 bed/1ba each side – Was Listed at $179,900 but then lowered to $159,900, which made it a much better deal.  You’ll see why it didn’t sell for the higher price by going to the target=”_blank”>Video Here.

4341  Alsace Ct,  Fair Oaks, CA  95628   – Was Listed at $425,000 – Duplex with a 3 bedroom on one side located in an area of mostly single family homes.   This is an interesting property that would be perfect to live in one side and rent the other.  Let me know what you think of it after you see target=”_blank”>The Video Here

3107 – 3109 Laurelhurst, Rancho Cordova, 3 bedrooms/2 bath ea side – Bank Owned – Was Listed at $155,400.   An Investor I’m working with offered $171,000…. AND DID NOT GET IT..!   target=”_blank”>Check Out the Video

3283 Cambridge Road, Cameron Park, – Single Family Home that had been priced much higher at $309,900 but then lowered to $269,900.  I had a buyer make an offer but it was also not accepted because others had out bid us.  Click here for the Video and more.

I will have more examples coming later….  

In the Mean Time…?

Make it a Great Day…!

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

 

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