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

 

Rents Are Up in The Sacramento Area – Old News To Us in Real Estate Sales & Management.

When The News Hits the Sacramento Bee – You Know it’s “Old News” When It Comes to Real Estate..!

If you’ve followed my blog site for any length of time I’ve pointed this out several times.   The reason you ask…?  They stopped building Apartments and just about anything else here because of the recession.  They are only now beginning to ramp up, but mostly single family homes.

And since they are not building more apartments for middle class folks just starting out, rents have gone up.    What apartments they are building or planning on building are “subsidized” housing or the more “high end” apartment complexes with lots of amenities according to a recent article in the Sacramento Business Journal.

I’ve said to many people seeking to find a home or an apartment to rent in Folsom, Orangevale, Roseville or any other area in the Sacramento Region that,  “you probably need to know somebody inside to get a decent rental anymore”.    I wrote about it here.

Many of the investors I have placed into Duplexes, Four-plexes and Small Apartment complexes know they can get “higher rents”, so most of them have improved their properties to take advantage of the upswing in rents that can be derived.   That also was written about in today’s Sacramento Bee article.

So CLICK HERE for that latest story from The Bee.   Let me know what you think.

In the Mean Time…?

Make it a Great Day…!

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

 

Is Rent Control Coming To the Sacramento Area…?

It’s Not Just Rent Control – They Add Costs Onto Owning a Rental

I have an article here that I recently received from the RHA (Regional Housing Association of Sacramento Valley) with a list of ballot measures in several San Francisco Bay Area cities regarding “rent control”.

It’s not just that they want to limit the amount of rent you can charge, they also want to make it more difficult to get rid of bad tenants by instituting “just cause eviction” laws as well.Image result for the rent is too damn high

Just Cause eviction rules eliminates the “termination of tenancy” that we can currently give a Tenant in our area without stating a reason.  Just Cause rules would require a hearing at another government run board or authority that would hear your case and probably take the side of the Tenant unless you had massive amount of documentation to support your position.

Some of these measures would limit causes of action to evict a tenant to 8 or 9 specific reasons.

For many investors, this is why they hire a professional property management to make sure they are “in compliance” because of all the rules changes and regulations that vary from locality to locality.

Take a look at this article from RHA and think it over.   Land use decisions do involve you and when you can’t build housing because of all the NIMBY’ism, this can be the result.

I think you’ll be appalled at what they are proposing.   It is scary in my opinion.

RENT CONTOL ON THE BALLOT IN FIVE BAY AREA CITIES

Let me know what you think.

In the mean time…?

Make it a Great Day…!

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

 

Is It a Good Idea to Purchase a Home Protection Plan for Sacramento Duplexes and Four-plex Investment Properties.

Buying A Sacramento Duplex or Four-Plex…?  It’s Absolutely a Good Idea to Insure At Least The Air Conditioning…But Don’t Rely on Them for Everything…

Recently our Property Management Company, Haven Properties, experienced what we would call some “bad service” from a Home Protection Plan company that has been around for a long time.

The tenant of a Duplex called a Service Request in for a stopped up and leaky toilet on Monday the 26th.  shutterstock_195491885 The owner had purchased a Home Protection Plan to help mitigate any expensive repairs that might occur during ownership.

Property Management had the account number, made the service request to the Home Protection Plan Representative,  gave the contact information to them and made arrangements to pay the “deductible”.

It all went smoothly except they didn’t get out there for over 48 hours to fix the toilet.   How would you like it if that was your problem for almost 3 days…?

As a result of this incident we’ve decided if a Home Protection Plan is giving out poor service as was this case, then you as a Landlord will have to take action in my opinion.

Remember, plumbing issues are not something you can really put off.   Now I know it might cost you more because of the “in-action” of the Home Protection Plan,  you’ll have a very happy tenant in the end.

Let me know what you think…?

Don’t Forget…We Specialize in Duplexes and Four-Plexes for Sale in the Sacramento Area.   Need Property Management..?   Check us out at HavenRents.com

In the Mean Time…?

Make it a Great Day…!

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

916-203-12260

 

Mortgage Rates are going Down Again…Great For Real Estate Investors…!

Great News – Lower Interest Rates + Higher Rental Rates = Good Time to Invest

I got this latest report from Housing Wire and thought I’d pass it on.   If you are thinking of Buying a Home to live in or to Invest in, now is probably a good time.

 

CLICK HERE FOR THE ARTICLE.

US-mortgage-rates-30yrFix
US-mortgage-rates-30yrFix (Photo credit: Wikipedia)

 

Call  or text me today at 916-203-1260 if you’re thinking of Selling, Investing or if you need Property Management.    We specialize in Single Family Homes and Residential Income and Investment Properties as well.

In the Mean Time…?

Make it a Great Day…!

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