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Why Suburban Housing is Making a Comeback with Millennials & Other Generations

Suburban Folsom Real Estate is Sure to Take Advantage of This Trend.

If you look at the graphic below provided by the California Association of Realtors, it shows which generations prefer which kind of housing and lifestyle.   If you haven’t been to Folsom, California I think we are a hit with about all the demographics today.

I’ve lived in Folsom since October 1989 and watched all the changes first hand.  Folsom Real Estate includes a lot to offer that is shown in that graphic below.

If you’re looking for homes with large lots, we’ve got them.   You want a condo with no yard..?   We got them too.  If a home with a small yard close to lots of services is what you like, we got that.

Check out the link to the large new development in Folsom south of Highway 50 called Folsom Ranch which will have a lot of the elements shown in the graphic below.

Folsom Ranch Overview

 

Home Preferences for the generations

 

 

Now take a look at what the National Associaton of Realtors has to say about 7 Zip Codes That Exemplify Suburban Comeback.

If you are thinking of Buying a home or investment in Folsom or the surrounding areas, please call me at 916-203-1260 or drop me a note at favinger@rwnetwork.com

In the Mean Time…?

Make it a Great Day…!

3d render image of houses with graph growing

Overflow of Multiple Tenant Applications Since the Start of the New Year.

If you are an investor in the Sacramento Residential Investment Market and have been actively looking for something to buy,  you know there’s been multiple offers presented on a lot of the inventory here.

The reason is simple… not enough supply.3d render image of houses with graph growing

While that is frustrating for some investors who are looking to get into the market because the economy here is good,  if you’re a renter….?

You’ll notice that rental rates have gone up for the very same reason and that you aren’t the only ones applying for the same place.

Our Property Management Company has experienced a serious up tick in rental applications on our available properties that started the day after January 1st.

Since  we specialize in  Sales & Management of Duplexes and Four-plexes for sale, Small Apartment buildings  and of course sales of Single Family Homes,  please call me at 916-203-1260 or drop a note my way at favinger@rwnetwork.com.

If you want to get into the Sacramento Residential Rental Market you could not pick a better time.

I’ll help find the right deal for you and since we manage these investments we know what income you can reasonably expect to get.

Maybe we can find something like the one below.

4 bedroom home in Natoma Station

184 Elkins Circle, Folsom – A nice 4 bedroom home in the Natoma Station Neighborhood

 

In the Mean Time…?

Make it a Great Day…!

Rates Can Still GO LOWER – Believe it or Not..!

See Frank and Brian – The National Real Estate Post Update

If you want to keep up in the Real Estate world, you might watch these guys from time to time because they do have interesting perspective… Then, after you watch the video below,  sign up for their updates.

If you’re looking for a new home or investment property it helps to have a finger on the pulse of the market and these guys are just one source.

frank and brianThey do regular Real  Estate and Mortgage Loan updates during the week.   I can’t watch them all but the headline today did catch me so I had to “point and click”  to check out what they had to say.

They deliver some great information and a little humor as well thrown in.

I think you’ll find this video worth the time and if you like these guys…..? go sign up for their updates.. !  You don’t have to be in real estate or the lending business to get on their list.

The “relevant” point regarding rates starts at the 3:56 mark

I think you’ll come away with the idea it’s not a bad time buy.  Rates for “investment” properties as of yesterday were at the 4.375% and “owner occupied” at around 3.50-3.75%.

If you’re renting, rents are going up and buying a home is actually “cheaper”… so you might want to consider getting into home now.

In the Mean Time…?

Make it a Great Day…!

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

 

Are we in a Bubble…? Not According to the Affordability Index…!

bubble_mania

No One Knows for sure… But Here’s some Stats You Should Look At…!

I remember the Real Estate Market back in 1989 and of course the big crash in 2007-2008.

If you want my opinion…?  I don’t think we’re there yet.   If you look at the links below, you’ll see what I’m talking about.

In 1989 I moved here from the Bay Area and the Index then was I believe about 19% of the folks living there at the time could afford to buy the median priced home with 20% down. Here in the Sacramento Real Estate market it was about 49% back then.

When we got to the top of the market in say, late 2004,  the index was way down through out the state. I’ll let the indexes below give you the data.   Take a peek at them and then decide for yourself if we’re in a bubble.   I think you’ll be surprised at what you’ll see.

Let’s talk about FIRST TIME BUYERS – it’s even better for them.

Bottom line is while interest rates are low and prices are going up some, there’s plenty of demand for Residential Real Estate.  There are plenty of Buyers out there but not much inventory to choose from.

If you’re thinking of buying and you’re worried we might be in a bubble, historically speaking we have a ways to go.

If you’re thinking of Selling you’ve probably heard from more than one source how low the inventory is so call me to get the latest valuation of your property.   We specialize in Single Family Homes, Duplexes, Four-Plexes and Small Apartment complexes.   If you’re in Investor, we also do Property Management.   So give us a chance at your business today.

In the Mean Time…?

Make it a Great Day…!

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

 

Sacramento Real Estate Market is On a Roll…!

Bottom Line…? It’s the Affordable Index..!

I received an email update from the Sacramento Business Journal this morning and thought I’d pass it on.

Some of the larger Real Estate companies in the area are talking about how the market is going to be about the same as it was last year.   Click Here for the Article, but read below why.   It’s not discussed in the article but below you’ll see why it’s important.

My take on what makes a great market…?   Buyers who can qualify for a loan and purchase the inventory.

If you look at the links below, you’ll see why,  even though prices have risen a lot over the last few years, the “affordability index” shows there’s plenty of Buyers out there able to qualify and purchase a home in this market.

Why is this important…?  It’s a gauge in my opinion to know when a market is about to change.   For instance I remember when I moved here to Folsom in 1989, the index was at 19% of Buyers who could qualify for the median priced home using the “traditional method” in the San Francisco Bay Area,  while it was at 49% here in the Sacramento area.Affordability_2015-Q3

Just before the big crash of a few years ago in late 2006 I saw an article where the index was at 19% here.   Shortly after I read that report, I started seeing lots of short sales and REO’s hit the market just like it did in the early 90’s.

From the data below you’ll come away with idea that we’ve got a long way to go before prices go up so high they become unaffordable.   Of course this assumes  interest rates stay near where they are now.

 

 

 

First Time Buyers

First Time Buyer’s Affordability Index

First Time Buyer’s Affordability Index Methodolgy

 

Traditional Affordability Index

The Affordability Index

Traditional Housing Affordability Index Methodology

Let me know what you think.

If you’re thinking about buying a home or an investment property,  today’s data should give you confidence your decision to get into the market.   Call, Text or Email today and we’ll get you started on your way.

We specialize in sales of Single Family Homes, Income and Investment Property such as a Duplex, Four Plex or even an Apartment complex.      Don’t forget we also offer Property Management services – Click Here for Our Property Management Page.

In the Mean Time…?

Make it a Great Day…!

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

 

 

Sacramento & Folsom Real Estate are Hot..!!!

But so are a lot of other places in California…!

Maybe it’s just got to be the great weather right…?

Take a look at this…CaliforniaHomeSales

 

 

So if you’re thinking of buying a Single Family Home or any other kind of Residential Investment Real Estate like a Duplex, a Four-Plex or a small apartment complex, give is a call today.

And don’t forget, we also do Property Management as well.

In the mean time…?

Make it a Great Day…!

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

 

Thinking of Buying a Rental Property – Good News Here About Rising Rents

It’s a “Landlord’s Market”…!

Bisnow.com has the Sacramento Area at #2 Fasting Risings Rents.

Now, if you haven’t heard this before in other media & news outlets such as the Sacramento Business Journal article they wrote a few days ago or maybe you’ve not seen this article from a few months back about rental rates in the country in general,  you might think this is something going that is new.  Well, its not new to us.

Folks, anytime you see something in the mainstream media such as the news paper or TV regarding anything to do with real estate, trust me, it’s old news.

That’s because anyone in real estate who is involved in Investment Real Estate or Property Management will tell you it’s old news and has been for a while.

Let me give you an idea of what it’s like out there now.   In Folsom, where our office is and also where I live… I tell people all the time about the rental market this way.  “If you are a Renter, you almost have to know somebody inside to find a decent rental to get into.

So bottom line is if you are thinking of buying a Duplex, Four-Plex, an Apartment complex or even a single family home or condo, you’ll be able to rent it today for top dollar.

We specialize in the Sales and Management of Residential Income Property so let us show you how to make the most $$$ out of your investment.

In the mean time…?

Make it a Great Day…!

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

 

Foreign Investors Still Love California Real Estate

Here’s a story about a company that wants to scratch their itch.

I ran across this article that I thought I’d share.   Not a long read, but it’s an announcement about an “online” real estate investment management company moving into the Southern California market.Los-Angeles-highway

Real Estate has been overall a “safe haven” for many investors.

I’m sure you’ll be seeing stories soon about the growth in the area especially regards the South of 50 area of Folsom.

 

CLICK HERE FOR THE ARTICLE.

 

In the Mean Time..?

Make it a Great Day…!

Ed Favinger, Broker CRS, GRI, SFR, CDPE      favinger@rwnetwork.com    915-203-1260

 

 

A Duplex Just On the Market and Another Multiple Offer Situation…!

This one got 7 offers in less than a week…!

We placed the Duplex at 7983-7985 Marsala Court on the market in the middle of last week and as of today we have had 7 offers and the phone is still ringing.

IMG_0597

 

This is the 3rd Duplex I’ve placed on the market within the last 30 days.   One of the threads that has been consistent in these situations is that these Duplexes all had a decent enough income to give a cash and had Pride of Ownership to go with it.

For a copy of the cash flow figures of this Duplex Click Here.

The Sellers  just accepted an all cash offer that was well over the list price and we’re now moving forward with the “due diligence” period and we’ll see what develops on the way to the closing.

If you are thinking of buying a Duplex or a Four Plex in the Sacramento Region or you are thinking of Selling, give me a call.

There are still great deals out there if you are a buyer and if you are tired of being a landlord, now might be the time to think about Selling.

 

In the Mean Time…?

Make it a Great Day….!

Ed Favinger, Broker, CRS, GRI, SFR CDPE   

The Sacramento Region is going to be really hot soon…!

There’s so much going here and around us.

All you to do is read some of the business sections of various newspapers and trade magazines to know, there’s a lot of money out there looking for a home.

PandoraCase in point…?

I just got this article out of Bisnow.com and thought I’d share it because it just goes to illustrate what is happening in the San Francisco Bay Area which means there will be a “ripple” effect here in our area.

If you read the local media here you already know about the new Downtown Arena for the Sacramento Kings and developments around it.

Here’s an article in the Sacramento Bee from a couple of days ago about a Folsom venture capital firm and some of the successes here.

So if you are thinking of buying a home in Folsom, El Dorado Hills or other areas in the Sacramento Region, you just might want to get out there soon, before the prices start going up a little faster.  Business is picking here and elsewhere.

To make my point some more about Folsom….?  Here’s a typical article from just one other real estate agent here in town.  I could find more comments like this but I think you get the idea.

That’s my opinion.

In the mean time…?

Make it a Great Day…!

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