Tag Archive for: Duplexes for Sale Cameron Park

Do You Allow Tenants to Park Their Vehicles on The Front Yard Landscaping…?

I Get That Icky Fingernails on a Blackboard  Feeling Whenever I See This…!

You know when I’m out and about and I spot this, it irritates me to no end.   It’s amazing to me that any Owner/Investor would put up with this.

Number one, I think it shows how disrespectful of the Owner this act is when a tenant does it.    Number two, ask yourself the question.  If you have a rental close by or god forbid, it’s right next to a property like this, would you think  “prospective” tenants would find this appealing and then decide they’d want to live next to that…?   I wouldn’t and I think the vast majority of folks agree with me.

It certainly promotes a devaluation of the neighborhood… don’t you think..?

One of the things we do as Property Managers for our clients is to drive by their properties on a fairly regular basis.   The reason you would hire a Property Manager would be to stop just this kind of thing if you don’t have the time or inclination to confront a tenant doing this.

Take a peek at the duplex here on Montrose in Folsom that I drove by last Friday.   Along with a pick up truck parked smack dab in the front yard, we’ve got trash cans sitting out in front when they should be behind the fence or in the garage until trash day.  It doesn’t help that the owner has a poorly maintained landscaped area.

I did some research on this property and the current owner bought this from the bank as an REO.   I think the owner is making a big mistake not taking more care of this property.   “Pride of Ownership” principles apply for rental properties too.   Not only is he hurting himself, by not maintaining and in fact “improving” his curb appeal, he’s keeping the potential rents and income to him down for his property.   As I pointed out earlier, it  also denigrates the neighborhood and lowers the “tenant profile”.

Here’s a picture of a property at 2728 El Parque, Rancho Cordova that represents the kind of pride of ownership from an owner that “gets it”.

2728 El Parque, Rancho Cordova

What do you think…?   Am I wrong…?  Drop me a note or post a comment here.

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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Don’t Overpay for a Folsom Duplex Without Checking Out Recent Sales…!

Why Would a Duplex almost identical to one we closed last year be worth $80,000 more…?

I ask the question because the property listing does show the owner did pay to install a Roof recently.   The Seller also made updates to the heating and air systems in one of the units and a recent exterior paint job for the building along with some recent water heater replacements.

The Seller is also offering a credit to the Buyer for new flooring in one of the units if you pay his price of $375,000.  However, the most recent comparable sale just around the corner closed escrow at $295,000.

By the way, the Fargo property started out even higher…

Both of these properties were built approximately the same time within 2 years of each other and both have 2 bedroom 1 bath units with single car garages.

The rents reported on the Fargo duplex are at $1,500 more annually then the one we closed escrow on at 46 Dean.   

The square footage of the units are about the same as well.    While the Seller of the Fargo duplex has recently reduced his price, don’t you think it’s still a little high..?

If you are a Seller you should look at recent sales and price them accordingly because the longer it sits on the market and gets stale, the tougher it will be to get sold.   Even if you did get an offer, if conventional financing is involved, it will be hard for the property to appraise anywhere near the current asking price.

In addition, I was disappointed at the “curb appeal” of the Fargo property because it wouldn’t have taken much to get the landscaping a little nicer.

What is my opinion of where the Fargo Duplex should sell for..?   I think somewhere in the $300,000 – $315,000 range and that would be “top dollar”.

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

 

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