Sacramento Rental Rate Increases Highest In California…

Surrounding Suburbs, Folsom, El Dorado Hills, Roseville Affected too.

We’ve been experiencing Rental Rate Increases for a long time here in the Sacramento Region.  This includes not only Sacramento, but the surrounding communities as well, such as Elk Grove, Roseville, Woodland, Folsom, El Dorado Hills, Lincoln, Fair Oaks, and Carmichael to name a few.

The Sacramento Bee has a story today regarding Rent Rate Increases.  They are primarily talking about the Downtown/Midtown area which has experienced a “renaissance” because of the development in and around the Golden One Center.

Sacramento Rent Increase Rates Highest in the State of California
Sacramento Rent Increase Rates Highest in the State of California

The Sacramento Midtown Area has been very popular with the younger generation and some seniors because of the proximity to jobs, entertainment and restaurants.

As I have said in the past you almost have to “know somebody inside” to be able to get a decent rental these days.

To give you an idea of how strong the rental market is, we seem to average about 5 applications for every property we advertise.

An example of what I am talking about…?  As of today, July 26, 2017, here’s a short list of a couple of Duplex apartments being advertised by our Property Management Company with pending applications we are processing now.

Note to Duplex Investors or for that matter, any Residential Real Estate Investors from Single Family Homes up to Apartment complexes.   You’ll have several applications to rent if you decide to invest in the Sacramento area.

Until they start to build more Apartments and Homes this trend will continue given the great economy we have going at this time.

If you’re thinking of buying/investing in the Sacramento area, please call me at 916-203-1260 or send me a note at favinger@rwnetwork.com and let me help you find the best deal out there today.

If you’re an owner now and thinking of selling, contact me and let’s take a look at your investment property.   I can help you get the most out of your investment with some ideas you might not have considered.

In the Mean Time…?

Make it a Great Day…!

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

Sales of Sacramento Duplexes are Hot..!

No Re-Sale Inventory & Rents Are Going Up

I’ve been working the Sacramento Area Duplex Market for a few years now and while we’ve had spurts of price growth in the past, I think this current market is poised to bust through the price ceiling  of 2005 and 2006.Duplex

While we’ve been involved in Sacramento Duplex Sales and Management all over the region.  However, it seems Duplexes located in the Sacramento zip codes of 95826, 95827 and the Rancho Cordova zip code of 95670 are noteworthy because we’ve placed a lot of investors in these areas and we manage them as well.

I thought I’d share the latest information regarding the Sales Data for Sacramento and Rancho Cordova Duplexes with you that I sent to Duplex owners hoping to find someone willing to sell now.

Click Here for a copy of that report.

Rents are also going up.   Many of these Duplexes for sale will not have the rents at their current market so it will be up to you, the investor,  to know how much you can raise them in order to make a deal make sense.

If you’re thinking of Investing in a Sacramento Duplex, call or send me a note and I’ll be able to analyze the property for it’s potential performance.

Click Here for a List of Duplexes for Sale in the Sacramento Area.

We also perform Property Management services as well that is “2nd to none”.

In the mean time…?

Make it a Great Day…!

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

 

Being A Landlord Is Easy When Tenants Have Jobs…!

Unemployed People Have a Hard  Time Paying Rent

 

jobs

 

You have to have jobs so people who want to live in your rental investment have the ability to pay the rent.

It looks like the Sacramento Region has 21,000 jobs available according to this “linkedin” email alert I got this morning.

Check it out here.

The Rental Market in Sacramento is hot.  Sales and Investing in the Sacramento Region hot as well.

We’ve experienced multiple rental applications for Duplexes, Single Family Homes and Apartments we manage for the last several months.   They haven’t built enough inventory for the amount of people looking to move into a home or an apartment.

So if you’re thinking of Buying/Investing in a Single Family Home, a Duplex here in the Sacramento Region or even a small to medium sized apartment complex, call/text me at 916-203-1260 or drop an email my way and lets talk about what your goals are.

In the Mean Time…?

Make it a Great Day…!

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

 

Quick Market Update – Sacramento Duplexes for sale

Multiple Offers Still Going On…

I had the opportunity of working with a couple of investors that made offers on a couple of Duplexes for sale in our region.   One of the Duplexes for sale was at 4932&4934 Saddlerock, Sacramento and the other Duplex for sale was located at 2641 Capitales, Rancho Cordova.

In both instances the Sellers received “multiple offers”.   The buyer on the Saddlerock Duplex actually made an offer well  over list price but didn’t get in 1st position.  However, they were later able to get into escrow with this property after the Buyer with the top offer withdrew from the deal.

Sometimes the 1st offer in doesn’t complete the deal.

The other Duplex for sale on Capitales had 5 offers and we wound up on top with that one.  Interestingly in that deal the Listing agent told me that out of the 5 offers, 3 of them were prospective “owner occupied” purchases.   I think you’ll see as prices of single family homes go up, folks will turn to this option, live in one side and rent the other.

In both cases we  were required to have a Lender Pre-approval letter and Proof of Funds.   Proof funds is important because if you are going to compete with “cash offers”, you have to show you can pay the difference if the appraisal doesn’t come in at the Sale Price of your offer.

So if you’re thinking of Selling, Buying/Investing get in while the rates are still low and don’t be disappointed if you don’t get the first deal you make an offer on.

In the mean time…?

Make it a Great Day..!

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

Sacramento Duplexes for Sale Prices Going Up & So Are the Rents

A Fair Oaks Duplex Fixed Up Gets Multiple Offers

While I specialize and look for Sacramento Duplexes for sale all the time, I  have taken notice  now for a while  there is a thirst in this market for Sacramento Area Duplexes in great areas like Fair Oaks that are fixed up and renovated.

Not only do you get top dollar when you sell, you can place a new tenant in the units at much higher than their past history.

Case in point is the Duplex you see below.    I got a “google street view” of the property taken last year that is embedded here so  you’ll be able to zoom in and check out the neighborhood if you want to.

Looks like the roof might have had some issues and they fenced it off for security purposes while they made their repairs.

It consists of a 3 bedroom/2 bath/2 car garage on one side and a 2 bedroom/2 bathroom/1 car garage on the other.  It Listed at $399,000.

There are only a couple of pictures of the property in the MLS which is a shame,  but you can see they did fix up a kitchen pretty nicely.

If you click here you’ll get an MLS flyer that shows some of the information about it.

This property came on the market about 3 days ago, had 5 offers and is now a Pending Sale.

If you are thinking of Buying or Selling a Sacramento Duplex, Four-Plex, a small Apartment complex or even a Single Family Rental, please call or “text” me today at 916-203-1260 or drop me an email at: favinger@rwnetwork.com

n the Mean Time…?

Make it a Great Day….!

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