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The Follow Up on the Recent Rent Control Article

They are kicking the can down the road for a while

Folks, this is a contentious issue in California’s coastal areas such as the San Francisco Bay Area and of course down in the Los Angeles area.

The City of Alameda has recently conducted a few city council sessions on this issue.   You gotta believe there’s been some “off the record” negotiations going on behind closed doors among a couple of the council members in my opinion.rent contol

No matter which way they are going to go… there are some issues I hate and one of them is the so called “just cause” or “no cause” eviction they want to enforce as part of this deal.

This issue would change the law so that you can’t just ask a tenant to leave at the end of a lease or after giving notice to terminate on a month to month agreement,  which is often a great tool to get rid of a problem tenant.

In our area,  Sacramento, if you have a tenant that is consistently late on rent, is abusive and wasteful of the unit and otherwise doesn’t follow the rules…?  Your “best option” now is to terminate the tenancy and there’s no defense in most cases on an expired lease or month to month agreement.   The tenant has to move because there’s no “just cause” requirement here in the Sacramento Region.

That changes in Alameda with this new law their going to impose it seems.   You’d have to go to a board or commission they will set up making it harder and more costly to get rid of bad tenants.

They are also talking about paying a tenant’s “moving expenses”.   How would you like to have the requirement..?

Anyway… CLICK HERE for the article that describes the meeting I wrote about on January 5th and what they decided to do for now.   More to come later.

Bottom line…?  Stay away from Rent Controlled areas if you are an investor.   If you are thinking of Investing in a Rental Property, be it a single family home, a Duplex, a Four-Plex or even an Apartment complex we can help.   Call me or send me an email today.  My contact information is below.    The Sacramento Region is growing and we do not have rent control.

 

In the Mean Time…?

Make it a Great Day…!

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

Rent Control Is Rearing It’s Ugly Head Again – Not Yet in The Sacramento Region

Too Much Regulation – Kills the Housing/Building Industry

I have to pass on this article I got from the San Francisco Business Times. There’s a big meeting in the City of Alameda tonight that is so contentious with the anticipation of a large gathering, they moved it to a High School Auditorium.

English: City hall. 2263 Santa Clara Avenue. A...

English: City hall. 2263 Santa Clara Avenue. Alameda, California, USA (Photo credit: Wikipedia)

I’ve written about this issue before… not sure if I put here on this blog but for sure at our Property Management Facebook Page back in November 18th of last year.  The link I posted was also a follow up to the earlier Alameda City Council meeting where the “3 options” referred to are going to be the subject of tonight’s big do.    You can bet there will be lots of media there.

Here’s a “solution” that I wanted to share again with you from a Bay Area Attorney, Christopher Hanson, the Hanson Law Firm.

I think his ideas and solutions are much less onerous for Landlords and “spreads the pain around” in such a way that it doesn’t kill the incentive to build more units which is the reason Rents are going up, including in the Sacramento Region.

Come back here tomorrow and I’ll have the follow up.   I’m curious to see how Alameda handles this issue.

If you are thinking of Buying or Selling and Investment Property in the Sacramento Region, 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….!

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

 

Rising Rents Going up Faster than Inflation – Good If you’re an Investor

If You’re a Renter – Might be Time to Buy Instead

I don’t know how many times over the last several months I’ve discussed the fact the rents have really begun to take off.  Graph-going-up My favorite quote to people looking for a place to rent and to people who’ve asked about the Sacramento and Folsom Rental Market is, “you almost have to know somebody to find a decent rental”… especially if its in a nice area.

It’s not just me saying this either because it’s been in the news from several different sources.

Click here to get the Google Search Results of “Rising Rents in Sacramento Region” to see the number of sources to make my point.   Oh and by the way… it’s the same just about every where in the country.

The simple fact is they haven’t kept up with the housing demand for new units.

For a bit of humor on the subject and a “look inside baseball”  for another type of perspective..?  Click Here to see a video from our guys at the National Real Estate Post.  

Most Real Estate professionals have heard of these gentlmen and subscribe to their video updates.   Now even if you are a “civilian”… you know,  not part of the Real Estate Industry..?   You can still subscribe to keep up to date and idea of what is taking place in the Mortgage Lending business and Residential Real Estate Sales.

So if you are thinking of Investing in a Residential Rental unit I think you’ll have to agree with me that now might be a good time to get in.   Call me at 916-203-1260 or send an email to me at: favinger@rwnetwork.com and we’ll see if we can’t find the right kind of Investment Property in the Sacramento Region that works for you.

If you’re a Renter…?   Call me because I can help you find the best deal possible.   We’ve been helping buyers locate and purchase their 1st home for many years so put our experience to work for you today.   Call me at 916-203-1260 and we’ll discuss your situation.

In the Mean Time…?

Make it a Great Day…!

Ed Favinger, Broker CRS, GRI, SFR, CDPE

 

 

Sacramento – Residential Investment Real Estate – Good For the Small Investor

The Key of course is buying a property in a “growth area”.

I left the San Francisco Bay Area back in 1989 which was about the top of the market back then before there was an “adjustment” in Real Estate prices a few years later.   Others would call that part of the 90”s a “Downturn”.

The Sacramento Region since that time has shifted some what from being a Government and Housing driven market to something more “diverse” with some decent paying private sector jobs.

If you’re an investor in Residential Real Estate, be it a Single Family home, a Duplex/Four-Plex or even an Apartment complex, you have to have jobs and job growth if you want Real Estate rental prices to increase and of course by extension, potential “resale” values to grow.

Because we had another “downturn” caused by the Bank meltdown of a few years ago, construction of new projects pretty much came to a screeching halt.   Only recently have we seen builders begin the process of constructing new home, but not much in the way of “rental type” properties such as apartments.

Rents in this area have gone up dramatically and in Folsom where our office is, our Property Management company has no shortage of rental applications if the property is in good condition and located in a desirable area.   If you want to rent a nice pad in Folsom or Roseville for example, you almost have to “know somebody” to get one.  I’ve written about this many times, so click here for an article about rents in the area.

The “driver” of this phenomenon is,  as I mentioned above, our increasingly diverse economy here.

Click here for short article that makes my point.   This is old news of course to those of us that live here.  The article gives you a quick view of some of the “hi-tech” companies  located here, expanding here or moving here.   These are companies that most of you have heard of too.

So….. If you are thinking of making an investment into this area, then please contact me and I’ll give you the “Chamber of Commerce” tour of the area including work centers, recreation areas and neighborhoods.     After you’ve seen the growth in Sacramento, Roseville, Folsom, El Dorado Hills, Elk Grove and Rocklin, you’ll see why many of us have decided to not only invest here… we live here.

In the Mean Time…?

Make it a Great Day…!

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

 

Are We in a Real Estate Bubble…?

Update on the 10 Hotest Real Estate Markets – Analyzed Here.

I have had more than one person ask me if we were in another Real Estate Bubble.   I know that anechdotally, prices here in the Sacramento/Folsom area where I practice real estate and property management, have gone up.

We see it all the time in higher re-sale prices and big time increases in what you can charge for rents in just about every category, from apartments, duplexes and single family homes.

In my opinion this is going to be the trend for a while here in this area,  because builders have not kept up with demand and are only now starting to ramp up with some new construction.

So…. I got this article that I thought I would share with you from HousingWire.com.

Is there a housing bubble brewing on the West Coast?

HottestMarkets

 

Let me know what you think.   Now in my opinion if you are a Real Estate Investor in the Residential rental market, I think we have a few years of growth left.

Call me today at 916-203-1260 if you are thinking of getting into the Residential Investment Market in the Sacramento, Roseville, Folsom areas.

Don’t forget, we also do Property Management and if you purchase your investment property through us, we’ll give you the 1st 3 months of Property Management service free.

In the mean time…?

Make it a Great Day…!

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

 

 

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

 

Rising Rents in Sacramento Region A Follow Up to an Earlier Post

Surprise….It’s all about supply and demand…!

I’ve told investors for the last several years that the big reason rents and ultimately home values would go up here was because they pretty much stopped building just about anything new since late 2007.   Sacramento Residential Property Investors that have picked up Duplexes, Four-plexes, Apartment complexes and even Single Family homes now often get Multiple Renter Applications when a unit comes up vacant.

Oh sure there were a few new projects constructed around the area but no where near the amount needed to maintain an adequate supply of homes and apartments especially the smaller types of investment properties such as Duplexes or Four-Plexes.

Illustrates the intersection of supply and dem...

Illustrates the intersection of supply and demand curves as the free market equilibrium (Photo credit: Wikipedia)

When you have a slightly improving economy, this is primarily the main reason we’ve seen some steep rises in rents throughout the area.

So… today I get this article from the Sacramento Business Journal and thought I’d share it with you.  I think it’s an interesting read.    CLICK HERE FOR THE ARTICLE.

If you’re thinking of getting into the Residential Investment Real Estate market, now is the time don’t you think…?

Call me today at 916-203-1260 and let me help you find the right investment.

 

In the mean time…?

Make it a Great Day…!

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

 

The Sacramento Region is #11 in the Top 20 List of Hottest Real Estate Markets

Thinking of Investing in Residential Real Estate…?  Sacramento is not a bad choice…!

I got an article that was forwarded to us by the California Association of Realtors that contained a news link to Realtor.com.

If you’ve spoken to any real estate professional in our area recently,  you’ll pretty much get the same story,  the market is skinny of listings and prices are still climbing.

That’s especially true for Residential Rental Properties, like Duplexes, Four-Plexes and Apartments.   In Folsom where I live it’s almost like you have to “know somebody” to get a decent rental.   Our Property Management Company maintains almost 350 units of various kinds throughout the region.   Vacancies are down and rents are up.

If you have been to this site before you know I specialize in Rental Properties.   If you’re an investor and haven’t jumped in the market in the last couple of years there’s still time because every article I’ve read indicates rents are projected to rise a lot the next few years.

CLICK HERE FOR THE LIST OF THE HOTTEST 20 HOUSING MARKETS IN THE COUNTRY

 

In the Mean Time…?

Make it a Great Day..!

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

 

Do You Think This Duplex is Something You’d like to Buy.

I Think The Owner Missed an Opportunity

Here’s a picture I took of a duplex located at 9664 Lake Natoma Drive, Orangevale, Ca.    They are asking $299,900 with rents at $950 & $1025.

9664 Lake Natoma, Orangevale, CaEach unit is a 2 bedroom 1 bath with single car garages.

Since I own a property across and down the street a bit when it came on the market I thought I’d swing by and see what it looked like.

My original thought about this blog post would be to point out the poor curb appeal and how it might affect the sale of this property and therefore the rest of the immediate area of Duplexes.

The listing agent was marketing as a property needing a little “TLC”…

My initial reaction was that this property was over priced based upon my visual from the street and from some of the interior pictures.   However this duplex is in a great area.   If you look at the aerial by clicking here you’ll see how close it is to the City of Folsom,  Lake Natoma recreation area and the trail system, lots of open space, nearby restaurants & local shopping along with easy access to the Highway 50 corridor.

With all that I felt was negative about this property, yesterday it was reported on the MLS as a Pending Sale after only 15 days on the market.   The Seller’s agent would not disclose the contract price to me or even if it was close to the list price or at a discount.   He says “we’ll have to wait” until it closes.

The point of this article…?    Click Here for the street view taken of this property back in 2012.  Don’t you think like me, that in the 3 years since that “street view” picture was taken,  the Seller could have at least planted a couple of trees and kept vehicles out of the landscape strip to the left of the driveway.

Yes parking is a problem in our area, but as an investor, why not help improve the property & the neighborhood.  The owner could have added another few feet of driveway with still an area for a planter along that strip.

9669 Lake Natoma Drive

With some “minimal planning & little more investment”,  you could easily make this a much more attractive place to live, get higher rents and thereby helping to keep the values up in what could be a nice area.

Click here for a slide show of what a duplex could look like front and back.

I’d like your feedback.    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

 

 

Curb Appeal of Investment Properties & Why You Should Maintain it.

A strong landscape maintenance regimen should be part of your plan.

I’m always amazed how little value some owners/investors assign to a well maintained landscaped front yard, even though it’s the first thing prospective tenants and Buyers see when they pull up for a look.

I have some pictures here to show what I mean.   We’re in the process of marketing the Twin Pines Apartments at 2755 El Caprice, Rancho Cordova.  el caprice #1

The owners of this complex have spent the last couple of years improving this property which is right across the street from the new Folsom Lake College annex building.

A few days ago I drove by a duplex next door to us located at 2743 El Caprice and saw a beat up looking truck on the grass.  This is what it looked like when I took the picture of it below.

Do you think this helps my Sellers in their quest to market their apartment complex?

Do you think the poor condition the owner allows the tenant to get away with is something neighbors on either side would like to live next to…?

The Duplex Next Door

Do you think any Buyer/Investor is going to take into account the poor curb appeal of the surrounding properties and maybe discount the value of this street more than if it was in a more “pleasant looking” condition…?

If you’re thinking of selling a home, I think everyone knows that curb appeal is something written about all the time as a big item to put on the “to do list” in preparation.

So if that’s true, why would it be different for an investment property like a Duplex, Four-Plex or an Apartment complex….?

By the way, do you think the owner of this duplex allows her home she lives in to look like this..?   The answer is no because I took a copy of this picture you’ve seen here to her.   She’s a a local investor and trust me her front yard didn’t look anything like this.

If you have followed this blog site for any length of time, this has probably been one of my passions over the years.

If you’re an investor, please don’t be one that just wants to take all the money out.   Put some value back into your investment by creating a nice curb appeal that will draw the best tenants to you.   They will pay you more in rent because they know you care about the property and so they will get that message and help take care of it too.

It also brings the value of the entire neighborhood up if everyone on the street did the same.

In the Mean Time…?

Make it a Great Day..!

ED FAVINGER, BROKER CRS, GRI, SFR, CDPE    916-203-1260   favinger@rwnetwork.com