Low Inventory = Multiple Offers = Rising Prices – The Silicon Valley Spillover…?

Don’t Believe Me…?  Go to any weekend open house and watch the traffic.

I don’t care where you go these days in this region because what you’ll see are lines of cars parked to look at these “open houses”.

Last Saturday, I was out and about looking at property in the area for some investors I am working.  My 1st stop was at a home for sale in Roseville on Petruchio Way that has a list price of $549,000.

The agents who have this home listed held it open from 2:00PM to 4:00PM.   I showed up around 2:15 and couldn’t believe the crowds of buyers with and without agents viewing this property.    This is large home but I was bumping into folks in just about any room I entered.

The neighbor who is a good friend of mine said there was still a crowd there til about 4PM.

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Then later on that afternoon,  I was in the Rosemont area of Sacramento looking at a single family home located at 3201 Korovo Court that is a “short sale” listed at $149,000.

Just like the  home in Roseville, I was not the only guy in there.  It was amazing how many people were out looking.

The listing agent advised everyone on the MLS that offers would be presented the next day.  Sure enough… it sold the next day for I’m sure a price well over the list price.  The investors I’m working with made a “cash offer” of $160,000 and didn’t get it even though it did need some work.

This morning I wake up and get an update from RIS Media about Silicon Valley.   Take a look at that short article I’ve posted below and you’ll realize with me that we are in the middle of a bubble or a boom.   I think it’s more like a boom because the only thing holding back this real estate market now is the chronic unemployment.

January Housing Update:  Nothing Left to Buy in Silicon Valley

If you have had the same experience.. let me know.  I’d like to hear your feedback.

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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A Landscaping Tip – Mistletoe Not Good For Your Trees…!

In case you didn’t know…  Mistletoe is a Parasite.

 

We work for a partnership that is fixing up a home at 9051 Posada Way in Sacramento.   As part of our service,  since they are out of the area, we go by during the week while the work is being done and Video the progress.

A couple of days ago I was out there and happen to notice that trees  belonging to the neighbors on both sides were infected with Mistletoe.   To see what it looks like take notice of the pictures above here.    Click on the picture to see a short video.

These trees are going to whither and die because of this infestation if they are not removed soon.

You might not notice them during the summer time because the host tree will have leaves that might hide or mask their presence.  However during the winter, they don’t die and are easy to spot.

If you see this condition on your property or a neighbors property let them know.  Ridding the tree of this pest will really make a difference in restoring the health of a tree, even if it’s near death.   All you have to do is cut the branch(s) where the mistletoe is to save the tree.

If you need a landscape company or tree service to do this for you, contact us and we’ll give you a couple of references.

 

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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Skunks in the City – What Do You Do with “Pepe Le Pue” and His Crowd…?

A Quick Lesson in the proper removal of “pests” which is part of your job as a Landlord.

 

Skunks in the City..?

We manage a single family home in a quiet neighborhood located at, 7589 Limerick Way in Citrus Heights.   If you clicked on that link you’ll notice the home is in an area  you’d think would not have critters  normally found near a creek, along a river or other open spaces in a more rural wide open area.

The nearest open space we have is the San Juan Park about a 1/2 mile away.   This whole area was developed years ago and you’d think by now  critters like skunks would have migrated away to a more rural and wide open area than in the middle of “suburbia”.

The Problem – Missing Vent Screens:

The house is on a “raised” foundation.  After the new tenants moved into this home, they did call us a couple of months later saying they thought they heard scratching sounds or noises below the house.

It was only by chance around dusk one evening that the lady of the house noticed a skunk exiting the area below a deck from an air vent that was missing a vent screen.   Vent screens are supposed to be in place to keep critters out, but allow air in.

We contacted a couple of our Pest Control vendors to take care of this and they had to “refer” this issue out because there are special rules in handling Skunks.   They have special cages to trap them in so their little tails don’t go sticking up spraying everywhere.

In all, they captured 4 of them and all are euthanized as per regulations.   It took a while too.   So when a trap caught one, the tenant would call the pest company, they’d come and get it and set another trap until 4 of them were finally picked up.

I’ve been doing property management for 23 years and had never encountered something like this.  Roaches, rats and mice yea, but not skunks.   If you look at the maps, you’d just not suspect it would be the case here.

I found out it’s not all that uncommon.  I took the liberty of doing a quick Google/Youtube search regarding this issue and found a couple of links here.

Now 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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