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Is It a Good Time to Buy Real Estate? A Guest Columnist Makes Some Points

The time to buy is much more than just statistics and trends

By Kala Bell

In the world of real estate, agents are sometimes perceived to be rather vague with the public on the topic of a good buying time.   Truth be told, there isn’t one stretch of time that will be perfect for every potential home buyer, even if the prices are good and sales are up. A time of year when sales are thriving and prices are down may work for some, while other prospective home owners may take a liking to another time of year.

Buyers should be taking a number of factors into consideration during the time of looking for a new house. The factors could include things like financing, location, market trends, and income. Plenty of other factors will often come into play during the buying process, but making a decision can usually come off of a few different things that are important to the buyers.

Often times, trends and statistics play a huge part in the decision process, as prices often fluctuate. When it comes to Sacramento area real estate, median prices took a steep fall in 2007-2008 and have stayed steady from 2009-2011 for the most part. Sacramento’s median sale price has sat around $190,000. The average sale prices have also showed good stability by staying put. The Sacramento area rent has slowly climbed throughout the year, possibly influencing those on the fence between a lease and buying.  Sacramento apartments are sitting around $975 a month, going up over $100 in the last year alone.

For the past three years, the median prices have stayed mostly steady, even experiencing a few small falls and rises. Some experts feel that resurgence could take place in the real estate market next year, even though a good prediction is tough to come by. Even with the skepticism from some, the Sacramento market could experience a small resurgence and rise from the steady numbers that have come in through the past few years.

A good signal for buyers is the overall rise in inventory and listings over the past few years in Sacramento. Even though the availability of medium priced homes has gone down, the Sacramento area does still have a plenty of listings for prospective buyers.

Potential home buyers should continue to list off a main set of factors and considerations during the buying process.  The statistics are certain to fluctuate over time, as figures such as sales and inventory can often change from month to month. In real estate, determining when a good time to buy is is more so about the situation of the individual rather than the recent prices and availability. If a family or potential buyer goes into the process by staking out the needs and factors which best apply to them, they will more than likely make a good choice on a home in the long run.

Kala Bell is a free lance columnist.   She can be reached at kalabell86@gmail.com

In the mean time…?

Make it a Great Day…!!!!!

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Fair Oaks Fixer Duplex – Country in the City Location…!

Live Near Million $$$ Homes – Payments Cheaper Than Rent

I was out and about looking at property and have seen this one a couple of times on the MLS.   Click Here for the basic information if you’d like to see it.

This property is nestled in a pretty nice area with Oak Trees everywhere.   If you looked at the map on the link above maybe you noticed how close to the American River Parkway this property is near.  You owe it to yourself to drive by this property and the neighborhood.

This Duplex would be a great “owner occupied” candidate if you wanted a Single Family neighborhood feel.

I GOT VIDEO…!   I GOT VIDEO…!

Click On Here and join me on my walk around the property.

Click on this link to see the immediate neighborhood around this property

Cash Flow…?   You Want Cash Flow…? Or would you like to live in one unit and rent the other?   This is one property that could go either way.   You have to buy it for the right price though.  Although it’s listed at $319,900, it’s not going to sell for that in my opinion.   I think it should sell for something near or at $250,000.   If you look at the comparable sales data, there hasn’t been one sell for much over that,  if any.

Click Here for the comparable sales to prove my point.

Click the link below this paragraph for my projections – which includes costs to fix up calculated in.   I’ve got figures if you are a “Non-Owner Occupied Cash Flow Investor”  or you’re maybe a 1st time buyer and want to live in one side and “rent the other”.

Go Here To Get the Projections

If you’ve seen the projections and are curious about what you can get for rent in this neighborhood, go to this website that will give you the data.   It only asks you for the address and bedrooms nothing more, but it does show the location of the comparable rentals in nearby neighborhoods.

Let me know what you think.

In The Mean Time…?

MAKE IT A GREAT DAY…!!!

Ed Favinger, Broker, CRS, GRI, SFR         favinger@rwnetwork.com       916-203-126-

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Is This The Way New Homes Will Be Built in 2015…?

I picked up this article and thought I’d pass it on.

I’m not sure I agree with all of it.   The article attempts to predict what features we will have in the new home of the very  near future.   As you read this, be sure take a look at what they say will be some of the amenities that will be in and what will be out.

I’m going to profile an amenity in the next day or so that I think adds so much value to just about any home out there.   And..?  I’m amazed more home builders don’t design it in because I know it’s a “winner”.

Until I post that article, take a look at their predictions and let me know what you think.

A Look at The Home of the Future

In the mean time…?

Make it a Great Day…!

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

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How can I find a property that I could “take over” a mortgage paymnt w/out qualifying for the loan in Sacramento or can I?

An interesting discussion that was started by a local Buyer wanting to avoid having to go through the hassle of a “mortgage application”

She asked this on Trulia‘s Q&A and had some interesting answers.  I think you’ll find that the discussion was informative.

Click here and enjoy the read… not a long one, but I think you’ll like it.

In the mean time…?

Make it a great day…

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

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A Nice Duplex in Folsom – Great Location – Good Condition Too…!

If you are looking for a “coupon clipper of a Real Estate Investment, this might be for you.

339 Montrose, Folsom, Ca - Listed at $267,000

I got an update from the MLS that this duplex had come back on the market after being in escrow for a bit.

So when I rushed out earlier today to take a peek for myself there was a couple from Alabama who are moving here walking around the property.   They have a son living here who told them about this place so I invited them for a peek with me.

Their names were Ken and Dewey(my middle name).   After viewing this proerty, they were excited.    To see for yourself, if you click on the link below you will get a video of the property.

VIDEO… VIDEO…VIDEO…

Ken mentioned to me that he and his wife would like to live on one side and rent the other.   He’s thinking he’d like to get a cash flow… basically have the other tenant pay his mortgage payment.

When I was speaking with him I wasn’t sure that was possible so I ran the numbers.   I have a “pro-forma” analysis showing what your payments would be for this duplex assuming a 3.5% down payment, an FHA loan and a sales price of $245,000.

Get the pro-forma cash flow analysis here.

Let me know what you think…

In the mean time…?

Make it a great day…!

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

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Duplexes vs Four-Plexes – Which is Better…?

I Have Some Strong  Opinions based  upon personal experiences.

An Average Duplex in the Sacramento Region

What I told a potential Real Estate Investor who wanted to know what Brokers in the area thought to a question he posed on Trulia.com

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I was a part owner of the Four-plex pictured here back in 1990.   We did a little fix up and flip back then when the rents were at $450.   Rents on these units now are from $600 – $700.

What did you think of the answers I gave.   Are you a Duplex or a Four-plex kind of investor.

In the Mean Time…?

Make it a Great Day…!!!

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

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When will the Real Estate Market Change…? See Below for some insight…!

When Will the Market Turn Around…?

Asked by a Home Buyer from Citrus Heights

OPINIONS PLEASE….?

Prices for homes have really dropped since the boom years. I just wanted to get opinions from the Realtors on Trulia on what they think about the prices, if prices are at an all time low, when the market may turn around, etc. This housing market sure has been something else!

Click Here for what I and other Real Estate folks had to say.  I think you’ll find the answers interesting and informative.   Let us know what you think.

In The Mean Time…?
Make it a Great Day…!
Ed Favinger, Broker CRS, GRI, SFR         favinger@rwnetwork.com    916-203-1260
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Heads Up.. Couple of Hot Deals Here..!!

Both have just come on the market.  One should go quick and the other one…? Well it’s in a great area but I think the price is suspect big time.

I’ve been out and about and have previewed some interesting Duplexes… some REO/Bank Owned and some  Short Sales.   Either situation can be a good deal if you have the patience.

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Check out this one that’s a very popular pride of ownership type of Duplex neighborhood located in nice part of Citrus Heights .  It’s very near Sunrise Blvd at a point that makes it a great commute location for work centers in Roseville, Rancho Cordova and Folsom and the Sunrise Market Place.

7936-7938 Tangors Way, Citrus Heights, Ca 95610 – Listed at $220,000

If you would like to see how nice these units can be check out this video of one located a few doors away at 6924 Trovita Way.

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Now if you like Orangevale, this one at 9655 Lake Natoma Drive might be a neat property if you manage it a little better.  It’s a Duplex that has a common driveway with another Duplex and their detached garages.   I hate chain link fences and all the junk in front yard I saw because there are nice places on this street.   Check this one out just a few doors away and you’ll what I mean.

Click here for the Cash Flow figures for 9655 Lake Natoma Drive.

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SALES INFORMATION UPDATE COMING….

Check back later, because I’m going to post later today an Excel Spread Sheet in a PDF format of the most recent sales in Duplexes in my preferred areas.

In the Mean Time…?

MAKE IT A GREAT DAY…!

Ed Favinger, Broker CRS, GRI, SFR      favinger@rwnetwork.com  916-203-1260
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Here’s Some News From Out of The Area…

Is the economy really making a comeback…?

I’m sure you know there are many points of view on this topic.    Please take a minute and read what James Kim of Austin Real Estate has to say about it.   Click Here to get his perspective.  I think you’ll find it useful and informative because Austin, Texas is somewhat similar to the Sacramento Region… Both are state capitals and both have rivers running through them.

In in the Mean Time…?

Make it a Great Day…!

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

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Hey There…! If you own a Rental Home – Pay Attention Here…!

The New Carbon Monoxide Detectors

Thank god for the several trade organizations that I belong to.   I had forgotten about this new mandate until I got a hold of this update.

Check out the article I got from Shirley Kistler, another Realty World broker.

http://bit.ly/Carbon-Monoxide-Detectors

Ok… So now that you read Shirley’s article, here’s a link for various packages of Carbon Monoxide Dectors you can get at Wal-Mart:  CARBON MONOXIDE DETECTORS

I hope this helps…

In the mean time…

Make It A Great Day…!!!!

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

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