Realty World – Your Property Source

Our loan processor is not responding.   The initial escrow date they gave us was 3 weeks.   We could not get hold of the loan processor.    Is there any thing we can do to extend out escrow date …?  How does it work please let me know…

Is is “panic” time…?    I don’t think so.   This was a question asked by a first time home buyer on Trulia.com

Take a look at what I and other professionals had to say about this kind of situation by CLICKING HERE.

Make it a Great Day….

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

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I Have Some Strong  Opinions based  upon personal experiences.

An Average Duplex in the Sacramento Region

What I told a potential Real Estate Investor who wanted to know what Brokers in the area thought to a question he posed on Trulia.com

________________________________________________________

I was a part owner of the Four-plex pictured here back in 1990.   We did a little fix up and flip back then when the rents were at $450.   Rents on these units now are from $600 – $700.

What did you think of the answers I gave.   Are you a Duplex or a Four-plex kind of investor.

In the Mean Time…?

Make it a Great Day…!!!

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

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There was a crowd when I went through this one.

I think that’s because it’s rare these days to find a Duplex in a nice area.  Fair Oaks is one the of most desirable areas in the Sacramento Region.    I have a link for the map below.  When you look at it, you’ll see how close this property is to the Highway 50 corridor, the American River Parkway,  Nimbus Dam State Historical Park,  Nimbus Fish Hatchery, schools and local shopping.

Clicking here will take you to the map… hopefully it will be the aerial view so you can ”zoom in” and  see for yourself that most of the homes surrounding this area are single family.   Within a real short distance,  just south of the property along Winding Way,  you’ll see some custom homes .

The Duplex is located at 8856 North Winding Way, Fair Oaks, Ca.  While it  does need some work to get it rent ready, it’s not bad.    Click here for a copy of the cash flow analysis.

VIDEO… VIDEO… VIDEO…

I have a video of each side of this property and you will see other people walking through it besides me.    You’ll be able to get an idea of condition.  I think a focus should be put on the landscaping of this property because that’s been neglected and could be a big selling point.

Click here to take a look and then let me know what you think.

In the mean time…?

Make it a Great Day..!!!

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

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Never Lie or Give False Information When The Truth Will Serve You Better…!!!

I know times are rough now when we have a what…? 12.5% unemployment here in the Sacramento Region that is reported but I think we all agree it’s much higher than that.   Probably 20% or maybe more.

The reason I bring this up is because we are in Rental Property Management and Real Estate Sales that have been impacted by this recession.    We are out in the field and on the front lines everyday,  collecting rents from tenants who may have lost a job, Owners who are losing their homes and we are facilitating a short sale for them,  or we are dealing with Renters who may have to move because an Owner can’t maintain the payments anymore.

Since I know how bad it is,  I am aware of,  and have an understanding of the circumstances that can arise in the lives of the people that we deal with on a daily bases.

That means, if you have had some credit problems…? just be up front with me or any other Property Manager or Landlord when you need to move because if you lie, chances are we will find out about it.

I wrote about some suggestions and tips that should help folks that need to rent,  to qualify and to let you know what we look for and how you can improve your situation.   Click here for that article if you’d like to see it.

Because of these hard times and the sophistication of many fraud schemes,  the folks that work in our Property Management Company are pretty sensitive and cautious in our “tenant screening”.   Just today we had a lady lie about who her current landlord was, how much and where she made her money and she gave us copies of  some questionable cancelled checks that she said came from her current landlord.  She didn’t have a bank account and couldn’t even show us cancelled checks showing a consistent pattern of paying rent.

We think we know her real circumstances and we understand and sympathize….  But, had she just been honest with us to begin with, we might have been able to work with her.

Not a chance now.   A smart Property Manager, Landlord/Owner will keep a place vacant rather than rent, in the short term, to a tenant that would lie to get in with a questionable income source.

If you are looking for a place to rent, just be up front and honest about your situation because there are folks out there willing to work with you.

Make it a great day…!!

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

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