Sacramento Area Adding Jobs Good News for Real Estate Investors

Adding Good Jobs Help the Housing Market.

If you are an “out of area” Investor or a potential buyer looking to move into this area, you’ll want to know if there’s an economy here that’s adding jobs.

If you were to own a rental it’s nice to know that there will be jobs here so that people can afford to pay the rent you will charge them.   This is true if you own a Duplex, a Four Plex, an Apartment complex or even a Single Family rental home.  If they don’t have jobs they can’t pay the rent.

I thought I’d share this short article from the Sacramento Business Journal to illustrate the economy here.

Chinese solar company to establish McClellan plant, bring 200 jobs

This story is a prime example of what “re-use” of some former Military Bases in the Sacramento area that were closed in the 90’s, Mather AFB and McClellan AFB.  jobs

Mather is now a commercial center and is also being used as an “air freight” facility while McCellan has a mix of industrial uses.

As a Real Estate Investor it’s nice to know that your investment in this region would be a good one that will grow in value because we’ve got the jobs here as well.

If you are thinking of Investing, Buying a home here, or Selling a property here, please call me at 916-203-1260 ( I take text msg’s too) or drop an email my way at Favinger@rwnetwork.com

 

In the mean time…?

Make it a Great Day

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

 

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

 

 

Are You an Apartment Investor…? You’re not alone…!

Rents are going up… Prices are going up..

This news hasn’t reached a lot of people yet, but apartments seem to be the next big thing.   The reason, as most pronosticators in real estate will tell you. is that the Millennials have not decided yet to get into the “home buying” mode.

Instead they are opting to rent.   They like areas such as Sacramento’s Midtown area which has an eclectic atmosphere that not only includes apartments but also restaurants, coffee shops, bars, night clubs and of course a close proximity to lots of jobs in downtown.   Don’t forget we have the new sports arena currently under construction there. http://livinginurbansac.blogspot.com/2012/08/finished-la-valentina-project.html

In addition since the great recession around the area I live, Folsom, Ca, they are just now starting work at catching up in the demand for new housing.   As you can surmise, affordable rental housing is a hot item pretty much across the board.

I know in our Property Management business, we rented out a single family home in Empire Ranch within a day or so of it hitting the market.   Another example to share with you is we recently represented a small investor that purchased a Duplex through us. He immediately raised the rent on one side from $800 to a $1,000 and the other from $1075 to $1175.

Below, to make my point, are some recent articles from various sources.  By the way.. click on the picture above here to catch some photos of some nice projects in Sacramento.

Region’s biggest apartment complex changes hands for reported $62M – Sacramento Business Journal

Investors Keep Piling into Aparments –National Real Estate Investor

Sacramento region leads nation in apartment occupancy increase – Sacramento Business Journal

You’ll notice in some of those articles that these investors intend to fix these up and “drive rents”.   If you’re a small investors, say Duplexes, Four-Plexes or small Apartment complexes, please take note because those dynamics work for you too.

Let me know what you think and in the mean time…?

Make it a Great Day…!

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