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Multiple Competing Offers are the “Norm” in the Sacramento Region…!

If you hear someone say the Real Estate Market here is dead..  Trust me, they are “mis-informed”..!

It seems just about every time I find a property a buyer I’m working with has an interest in, we’ve had to compete with other buyers to get 1st in line.    

A home we listed “for sale” at 2925 North Platte Way,  Sacramento just last Thursday,  has generated 5 offers…!   This home is located in the North Natomas area where there has been a flood of foreclosures and short sales the last several years.

No matter, there was an offer on the property the next day after it posted on the Multiple Listing Service.  Folks… this is nothing new and almost any Real Estate Agent or Broker in the area will verify what I’m saying here.

Even the rough ones, the “fixers”, are selling.  You  go back a couple of weeks ago to a blog post I made regarding a unique investment property over in the Fair Oaks area that had 23 offers…!

Bottom line…? If you are in the market now,  chances are you will experience this for yourself… that is,  having to compete against other buyers for the same opportunity.   You might even have to bid on several properties before you finally get the right one.   So don’t get discouraged.  It’s just the market we’re in now.

Make it a Great Day…!

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

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Buying Real Estate is a Patriotic Act – Especially Fixer-Uppers – See Why Below….

This is what creates jobs

Why do I say that…?   Because it’s true.

I posted a story a couple of months ago about Mr. Philips and his inability to “qualify” for a decent loan because he is a “high net worth” investor that has “passive” income.  Click here for the back ground story.

In that story I wrote about the “multiplyer effect” that each Real Estate Transaction generates.   Because Mr. Philips didn’t do these new deals, non governmental stimulous funds were stopped from “spreading the wealth”.

So with the back ground story in mind, I’ve posted a video that will show you what happens when folks spend money on Real Estate.

Take a look at the video of the “street scene” of a Duplex we sold to a Buyer that actually lives on one of this property.  He’s fixing up his place and look at what is going on around him.

Comments anyone…?

Make it a great day.

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

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January 2010 Duplex/Four-Plex – Closed Sales Report..!

 Cash May Be King – But You Might Be Paying More

I’ve put together the latest Closed Sales Report for the month of January 2010.  As usual you’ll see there is a lot of cash floating around in the Sacramento County Duplex/Four-Plex Market.    But… if you look at the statistics below the average List Price/Sales Price Ratio shows that on Average, Cash Buyers have been paying more.

That’s kind of amazing…   isn’t it…?

Check it out.

I’ll have the entire closed sales list posted later today hopefully.

Make it a great day..

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

First Time Buyers and More Get Tax Credits

Fresh from the National Association of Realtors.

Check it out

Make it a great day…!

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