Posts

Home Appreciation in the Sacramento Region…

Are We in a Bubble…?

housing-bubble-news

I’ve had many people ask me this question because of the rapid rise in appreciation of real estate prices in the area in the last couple of years.

While no one can predict the future with any certainty, all I can say is I don’t think so.

I thought I’d share a link to an article in the Sacramento Business Journal for their views on the subject.

Home appreciation isn’t another bubble, expert says

Let me know what you think…

In the mean time…?

Make it a great day…!

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

Enhanced by Zemanta

Are You Looking For A Home or an Investment in El Dorado Hills..?

Stop right here… You Found the Perfect Site.

search 9-4-2013

 

If you have been tying to find a home in Serrano, Marina Woods, Highland Hills or any other village in El Dorado Hills all you have to do is….
CLICK HERE to speed up your search for all the available homes in all the neighborhoods.

 

 

In the Mean Time…?

Make it a Great Day…!

 

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

 

Related articles

Enhanced by Zemanta

New Regulations For Mortgage Lending..!

I think this is going to be interesting…if it actually goes through.

Folks take a look at this video from The National Real Estate Post.

New Fannie Mae Rules Defined

 

After you seen the video, Click Here to down load the rules if you want to see them for yourself.

 

In the mean time…?

Make it a Great Day…!

 

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

 

Enhanced by Zemanta

Home Protection Plans Getting Tough on Claims…!

For Big Ticket Items, You’d Better Beware and Don’t Take the Short Cuts

First American

Home Protection Plans have been around as long as I’ve been in the Real Estate business and I’ve made them part of just about every Real Estate transaction I’ve been involved in.

They are useful if you want to try and keep your “repair costs” down.   I always recommended this service whether you are a Home Buyer or a Real Estate Investor and you’re buying a property that is not brand new construction.

Fidelity Home Protection

 

Did you notice I didn’t say “maintenance”…?  That has always been your responsibility..!

 

I’ve Noticed Some Changes Recently

It seems to be an industry trend because I’m getting the same treatment from more than one company and that is, they are closely scrutinizing service calls,  especially for HVAC  systems.

I have an old friend who is a long time Escrow Officer for First American Title Insurance Company which owns First American Home Buyer’s Protection.   She purchased a Duplex in Roseville through me in 2005 and we have been managing it ever since.   On a recent service call for one of the air conditioners, First American H.B.P.Corp demanded to see a recent receipt from the owner that we had actually completed a “routine” servicing of each of the units…. BEFORE THEY WOULD GO OUT.

Luckily we had done that because they weren’t going to complete any repairs if we hadn’t.
It also didn’t matter that she was a 35 year employee of First American Title.  You’d think in that case there’d be some “dispensation”, however, there was no sympathy even for her.

In another case, Fidelity National Home Warranty, was reluctant to make repairs even though my client had purchased the property almost a year ago.   They wanted to see if we had completed a “home inspection” prior to the purchase which we had not done.   We did however have the Air Conditioners inspected prior to close.

My suggestion is if you are going to purchase a home or an investment property be sure to:

  • Have any Heating and Air Conditioning unit inspected before you close escrow.  
  • Have it serviced annually.    

If you don’t do the above…?   You might be on the “short end of the stick” as they say and be stuck with an expensive repair.  They are now looking for a way to deny your claim if they can show you didn’t maintain it.

You don’t want to have an argument with them if it’s 110 outside and you need service.  You don’t want to be a Landlord and your tenant calls up with a service request for a non working unit.   They won’t care about your relationship with the Home Protection Plan company, they want it fixed NOW…!

By the way… if you need services for your HVAC system, call or email me and I’ll give you the names of some people we use that are very reasonable because we deal with this a lot as part of our Property Management business.

In the mean time…?

Make it a Great Day..!

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

 

Related articles

Enhanced by Zemanta

Real Estate Sales Will Stay Steady And Maybe Increase Even If Rates Go Up Some…!

Mortgage rates increasing to the 4% range are still historically low, but…It’s not the point of this article.

Don’t you think by now that most of us active in the Real Estate Market in this region are aware that the economy here is on the upswing…?   If you are a Broker or an Agent, a Mortgage Loan officer, a home buyer or an investor active in the last couple of years this is old news to you.

Yes… I know interest rates helped to make it advantageous for many an investor,  especially if you had to finance a deal to get in.  I’m not going to panic over an increase in interest rates right now.

I’ve told just about everyone that I have ever worked for in a real estate deal, “the only reason prices haven’t gone up more is high unemployment”.

Here’s the latest headline from today’s Sacramento Bee Front Page.

Jobless rate plunges in Sacramento and California

Below here you’ll see some anecdotal evidence based on my experience to support my opinion.

English: The mall in Roseville, CA.

  • Traffic has gotten much more crowded on the local streets.   I see a lot of people at Restaurants, Entertainment venues and Shopping Malls.
  • Multiple Offers on a small supply of homes for sale – I know you have heard about that.
  • The Residential Rental Market is in great shape especially for well located and well maintained properties such as Folsom, El Dorado Hills, Roseville, Granite Bay, Fair Oaks, Gold River.   After only a week on the market, we recently leased a home in Empire Ranch for $2,850 with the new tenant paying the water, sewer and garbage.
  • Phone Book/Internet Searches – We are now getting calls from prospective tenants looking to move into a rental having difficulty finding a decent place.  They found us under Property Management listings hoping we had something they hadn’t seen elsewhere or maybe we had something “coming up”.
  • More “traditional” real estate transactions that are not Bank Owned/REO or Short Sales.
So… if you are thinking things are going to change anytime soon,  would you agree with me that it’s not going to be bad ?

Make It a Great Day…!

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

Want Some Sales Stats in Folsom…?

Here they are for April 2013.   Come back in a Day or Two and we’ll compare them with May 2013

If you haven’t noticed homes are selling pretty briskly so we put together some stats.

CLICK HERE FOR THE INFORMATION

In the mean time…?

Make it a Great Day…!

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

Related articles

Enhanced by Zemanta

Are You Curious About The Value of Your Home or Rental…? Are You Searching For a Home..?

You’ve come to the right place.

If this is your 1st time here, welcome and I hope you come back again.

Please take a look to the right of this article and you’ll see two menu options.

_________________________________

MARKET SNAP SHOT – To find out the value of your home and what other homes are selling for, go there, fill out some basic info about your home, hit the button and you’ll get a report right away.   The system will then update you in about 3 weeks or so.  You’ll be up to date and have of an idea of what is selling in your area.

HOMES FOR SALE – Just below Market Snap Shot, you’ll see the Home Search function. You can search for a home in just about any City in the State of California.

Give them both a try and let me know what you think.   If you are thinking of Selling or Buying and would like some information, drop me an email or call me at anytime.

 

In the mean time…?

Make it a Great Day…!

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

Enhanced by Zemanta

Remember The Freedoms We Enjoy Were Not Free…!

Memorial Day 2013 – Never Forget Those That Gave Their All So We Can Live Free.

 

 

In the Mean Time….

Make it a Great Day…!

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

 

Enhanced by Zemanta

Looking for a home in Folsom…?

Start your search here..!

If you are looking for a Home or Real Estate Investment in Folsom or El Dorado Hills…?   We’ve got them all here.   You will be able to find for example homes in Empire Ranch, Briggs Ranch, Lexington Hills, Broadstone or Hillcrest homes on this page.

Check it out and do your own searches… and… no you don’t have to sign in or give me any information…   but I’d like your feedback if you have the time…

 CLICK HERE TO START YOUR SEARCH

 In the Mean Time…?

Make it a great day…

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

 

Enhanced by Zemanta

Flips… Are They For You…?

I’ve got some “before” and “after” videos for you.   This one was an easy.

Earlier this year I was previewing homes for some Buyers I was working with and came across this property located at 106 Haskins Court here in Folsom.   It was a Bank Owned Home and was listed at the time for $305,000

Of course they had multiple offers on it..!    I know because I represented a “Cash” Buyer with an offer of $320,000 but we didn’t get it.   No,  It sold for $324,000 to another “cash buyer” and closed escrow on March 1, 2013.

The new buyers have since re-listed the property at $399,900 on April 18th and about 2 weeks later it went to a Pending Sale status on May 1st.

Since it was vacant still I went over there and did a follow up walk through video because I was curious myself to see what they had done to get it back in shape.

I have two videos for you… A “before” and an “after”.

Here’s what it looked like when the current owner purchased it – “Before Video”

Here’s the “After” the fix up video.

I’ve been involved in a few “fix ups” the last couple of years and with the exception of a new roof,  there really wasn’t much to do except a clean up in and out, new paint, new carpet and that was just about it from what I saw.

Let me know what you think.

In the mean time…?

Make it a Great Day…!

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

Enhanced by Zemanta