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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A Bank Owned Home in Cameron Park – Been Sitting There A While Too…!!

That’s because they had it priced to high – they’ve just lowered the price to $269,900 and now it’s getting action.

I was out there today looking at this home for a client of mine and thought I’d share this video with you.   This one is located at 3283 Cambridge Road, in Cameron Park.   It’s just a few doors away from the Cameron Park recreational area and lake.   You could walk there to see the 4th of July fireworks show they put on every year.

If you are commuter to Folsom or the work centers along Highway 50…?   This would be a great spot to land after coming home.

At around 2,200 sq.ft., it’s got 4 bedrooms 2.5 baths a monster lot with plenty of room for your boat or RV.

I’ll let the video do the talking… let me know what you think…

 

In the Mean Time…?

Make it a Great Day…!

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

 

 

Have We Reached the Bottom and Starting the Crawl Back Up…?

This Article From Today’s Sacramento Bee – Just More Evidence It Has…

Sacramento area home sellers again walking away with cash

By Hudson Sangree and Phillip Reese

hsangree@sacbee.com

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Trying to find a Duplex for Sale…? You aren’t the only one…


It’s the Rush to Cash Flow….

 

 

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Sacramento Real Estate,  especially in the Duplex sales market, has seen a lot of activity and of course “multiple offers”.   And it always seems there’s more than one or two buyers interested in each one that comes up.

Lets talk about the latest one I’ve profiled.

3107-3109 Laurelhurst Drive, Rancho Cordova, Ca – 3 bedroom 2 baths, 1 car garage on each side.   Central Heat and Air of course and wood burning fireplaces.

Click here for a copy of a “pro-forma” cash flow analysis.

Click here for comparable sales information of Duplexes close by

 

By the way….  While I was there… a couple from Vacaville dropped by because their agent gave them the address check out.   They saw the door opened and decided to come in.   This one just came on the market yesterday.

So I know there’s at least two buyers looking at this one.

 

 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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Just Another Tale of Multiple Offers on a home in Empire Ranch of Folsom

 

This one hits the market on a Friday….

10 offers by Monday…!

 

 

A good friend of mine, Sharon Kulbacki who is a long time Real Estate Broker here in Folsom,  just listed a home in Empire Ranch for some past clients of hers.   This home is a short sale, so the wait to the final close of this sale will take a little longer than a “normal” sale or what we now call an “equity sale”.  The fact that it is a short sale no longer matters it seems.

She mentioned this home to me in a conversation so I  got out there last Saturday and took a peek because I do have folks looking for homes in this price range.   From the description she gave me I knew this one would sell pretty fast.

Take a peek at the short video of my quick walk through of her listing.    She warned me that she had scheduled several appointments through out the day last Saturday to show this home.   Sure enough, there were other Agents/Brokers going through the house at the same time I was because they had seen it on the MLS and brought their clients as well.   For this property…?   This was a busy day..!

As I have stated in previous articles here, the market is moving at a pretty good clip… I’d say fast.   This is not just related to the lower price ranges either.   This home was listed at $499,900.  Sharon had 10 offers and the one that got the deal was well north of the list price.    She won’t let me say how much it is pending for, but if this buyer does close the deal, it will be an “eye opener”.

 

Check out the Video Below.  Not my best work because I had to rush, but you’ll get the idea.

 

 

In the Mean Time…?

Make it a Great Day…!

Ed Favinger, Broker , CRS, GRI, SFR CDPE     916-203-12260        favinger@rwnetwork.com

 

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