Posts

Real Estate Agents Fool Copper Thieves…

They’ve removed the A/C units.  Now that’s “creativity” for you.

I got this story off the web.  It’s not just a local issue as you might think.   This story came from a television station out of Georgia.

Check it out… CLICK HERE FOR THE LINK

In the mean time…?

Make it a great day

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

Enhanced by Zemanta

Looking for the Latest Duplex Sales Information – Stop Here..!

Some Interesting Statistics from my “”preferred” areas.

Although I work the entire Sacramento Region, I have compiled this information in what I think are the most popular areas only.  If you are looking for a Duplex Investment, these would probably be the areas you would look to first.

The following is the latest Sales Date from November 1, 2010 to date – February 24, 2011.

Current Available Inventory –  Active & Active Short Sales – 64

Current Pending Sales – Includes Active Short Sale Contingent – 70

Closed Sales – November 1, 2011 to date – February 24, 2011 – 100

Click here for a PDF Spreadsheet showing the addresses and other information.

.

In the Mean Time…?

Make it a great day…!

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


Beware of “Mortgage Rescue” Schemes…!!!

Remember… “if it sounds too good to be true, it probably is”

I hate it when I hear stories like this so that’s why I am posting this on my website here.

If you or someone you know is having a problem making their Mortgage Loan payments…?   What ever you do, please stay in touch with your Lender.   The banks don’t really want your house back and will work with you up to a point.

Read this story to get the gist of it and remember what I said above.   Get it here

In the mean time…?

Make it a Great Day…!!

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

Enhanced by Zemanta

Bank Owned & Short Sales – Deals Are Here…!!!

I’m bumping into people as I tour these places now….!

I was out and about today looking at a couple of Duplexes in the area today… and when you’re job is to look at property it sure is nice to do it in some really nice weather.

When you consider it’s February 5th, you probably have cold temperatures and inclement weather in mind.   Not today…!

The properties I have profiled below are each unique in their own way.

9649 – 51 Goethe Road, Sacramento, Ca 95827 – Short Sale – Listed at $154,800

Click Here for a video of the exterior – it’s better than street view… and shows the neighborhood a bit.

6915-6917 Burnham Drive, Citrus Heights, Ca 95821 – Short Sale – Listed at $175,000 – Wow is the 1st thing that came to mind when I saw this duplex.    It’s in a great part of Citrus Heights and surrounded by other “pride of ownership” Duplexes and close to the Fountain Square Shopping area.

Click here for the Cash Flow Figures         For a Video of the interiors, click here.

4911 Indian Oaks Court, Sacramento, Ca 95841 – Bank Owned/REO – Listed at $140,000 – This one has been on and off the market for a few months now and I think it’s been passed up because of the price.   It was a “pending sale” at one time but fell out of escrow.

Click here for the Cash Flow Figures     Click here for a video of the interiors of both units

In the Mean Time…?

Make it a Great Day…!


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

Related articles

Enhanced by Zemanta

Looking For a Decent Bank Owned Investment…? You Found the Right Place…!

One of them is new to the market, the other has been there a while & ripe for an offer…!

Let’s start with the 1st one that is located at 6128-6130 Oakgreen Circle in Carmichael.   It’s been on the market for a little over a year and started out as a “short sale” but wound up as a foreclosure and now offered for sale as a “bank owned” property.

Oakgreen Circle is an interesting little street of “Pride of Ownership” type of properties that have many of these Duplexes occupied by their owners.   If you are a First Time Buyer, this would be an excellent property to make as your first home.

I have the estimated cash flow figures and a “walk through video below.   You will notice that I have an offer price lower than the list price but the cash flow based upon a higher sales price and that is because it’s going to take about $45,000 to $50,000 to really get this property right.  After that… it should be a “coupon clipper” for years to come.

Click Here for the estimated cash flow figures.

Click here for the Walk Through video and I think after you have seen it, you’ll realize it has potential.  It just needs the right kind of investor looking for a long term hold.

UPDATE AS OF 12:53pm...  When I wrote the information above early this morning,  the property was still showing “active”… well wouldn’t you know… someone thought it was a good investment and made an offer on it… I’ll keep an eye out for it and see what the ultimate outcome is and post it here…

___________________________________________

The other property is more of what I call an “investment” and is located at 8145-47 Desesret Avenue, Fair Oaks, Ca.   I inspected this property late last week.  I know this area well, because I also just closed a deal on a duplex just a few doors away on East Knoll, a cross street.

My estimate to bring this one up to a nice condition would be approximately $15,000 which would be enough to get in the interiors fixed up and have enough to allow you to put some “curb appeal” landscape improvements in.

It’s listed at just over $194,000.   The most recent sale was just a tad over $190,000 with about $3,000 credit going back to the Buyer in the form of closing costs and was tenant occupied at $900 per month each side.     The cash flow figures I have are based upon an assumption of a sales price of about $180,000 and approcximately $15,000 in fix up costs, which brings it close to the original list price coincidently.

Click here for the estimated Cash Flow after fix up.

Click here for the “walk through” video.

Make it a great day…!!

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


Enhanced by Zemanta

New Taxes Coming on Rental Income Described Here

The western front of the United States Capitol...

Image via Wikipedia

The New Obama Care Tax is coming – Check out the link that explains it.

Well I’m sure by now,  if you are a Real Estate Investor and have not been off the planet for the last year,  you’ve heard that the Federal Government has passed a new Health Care law.

While we can debate the issue of it’s passing, the fact of the matter is that barring a repeal by the new congress, there will be an increase in taxes to pay for this new program.

Anyway, I got this Brochure from the National Association of Realtors that explains it pretty good.

CLICK HERE FOR YOUR COPY.

Make it a great day

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

Enhanced by Zemanta

Two New Bank Owned Duplexes Just Hit the Market…!

One of these is the best I’ve seen in a while, the other has location but needs some work.

I woke up this morning and got the update in my email account.    I was excited to see some new Bank Owned/REO Duplexes hit the market.   So… I made an effort to get out and about this morning early to get some pictures and video completed before my next appointment at 1PM because I know neither one of these properties is going to be on the market long.

Property #1 – Let’s start with 5516-A&B Marconi, Carmichael, Ca – This is a 3 bedroom 3.5 bath, 2 car garages each side and is listed at $295,000.   I will let the videos do the talking about them.    Rents are projected at $1,575 per side.

Click here for a video of the Left Side – – – – –  Click here for a video of the Right Side

Click Here For a Pro-Forma Cash Flow Analysis

Property #2 – The other one is located at 9650-9652 Lake Natoma, Orangevale, Ca 95662 and is a 3 bedroom 2 bath & 2 bedroom 2 bath.   It’s in a great neighborhood in area that has a school down the street, shopping less than a half mile away and within walking distance to the American River Parkway trails.

I was not able to get inside this unit because the listing agent hadn’t installed a lock box to allow me access but I did get a video of the exterior front and back.   Click here for that video –   Click Here for the Pro-Forma Cash Flow Analysis

And… If you want to see how neat this property is because it is so close to Lake Natoma and the American River Parkway click on this link from Frank Bobbio’s website and his aerial photos.      As a side note…?   If you would like to see some interesting photography of the Sacramento Region take a look at Frank’s website here.

So tell me…. What do you think about these two…?

Make it a great day…!!!

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

Enhanced by Zemanta

Cash is Still King for Sacramento’s Bank Owned/REO Duplexes

This map shows the incorporated and unincorpor...

Image via Wikipedia

Two new listings I profiled here recently closed – All Cash – No Financing

When I profiled these Bank Owned Duplexes just about a month ago it didn’t really surprise me that both of them went to a Pending Sale status shortly after I posted the article.

One of them, 7444 Robmar Court, Citrus Heights, sold for the list price and the other one, 7720-7722 Sunset Avenue, Fair Oaks, closed escrow with a sales price of $285,000 which was four thousand dollars over list price.

7444 Robmar closed escrow on September 3rd and Sunset closed escrow just a few days ago on September 16th.

Bottom line is that if you like one of these properties and they have just come on the market, chances are you will be up against “all cash” investors.

If you are thinking of getting into this market, be prepared to do battle with other investors looking for these great deals.

Make it a great day…!!!

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

Enhanced by Zemanta

Is a Home Protection Plan Worth The Money…?

Ask the New Owners of a Duplex Purchased Through a Short Sale.

We closed escrow on a Duplex located at 5945 Moss Creek Circle in Fair Oaks about two months ago.   The Buyer did employ North American Home Services to inspect the property for defects and completed a structural pest inspection.

While this Duplex was in surprisingly good condition given that it was a short sale, there were a few items of concern.  While most of them were minor there was a potential issue that could lead to a problem in the not too distant future according to the inspection team.

What I urged the Buyer to do to mitigate some potential large expenses was to purchase a one year Home Protection Plan from Old Republic Home Protection Company which cost,  I believe,  just a bit under $500.00.

If you didn’t know about this service, it’s not just for Single Family Homes.   You can purchase this service for a Duplex, Tri-plexes and Four-plexes and if you are an investor, I suggest you make this part of your initial costs going in and I strongly urge you to renew the plan at the end of the first year.

In the case of this new investor, the Central Air conditioning unit’s compressor in one of the units required a major fix.  In fact the compressor, a major component of the system had to be replaced at a cost of $1,700…!

Because the Investor had this coverage, his only out of pocket costs are the deductible for a trade call of $50.00 and the cost of removal and disposal of the old equipment, which was $100.00.

So… Do you think the Investors got their money’s worth purchasing this plan…?

I hope you found this useful and informative…

Make it a great day…!!!

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

Enhanced by Zemanta

Does “Home Staging” make a difference…?

Along with Pricing it sure does – Check out these Before and After Pictures

Let’s Talk abouit Price first.

We listed a home in San Jose at 5893 Moraga Avenue originally at $525,000 and after a couple of weeks of no action and just a few showings we did an updated market analysis and decided to lower the price to $464,950.  We had an accepted offer within about a week or so after bringing the price down.

How Does Staging Help You Sell a Home..?

In addition to “pricing” your home for today’s market,  Staging your home will mak a big difference in marketing your home like it did for this owner.

Here’s some “Before” Pictures.   Click on the pictures and you will get the “After” shot

Here’s the Before look of the Living Room.   Click on the Picture to see how it looks After…

Before Pictures of the Breakfast Nook/Dining Bar.   Click on this Before Picture and to  get the “after” shot.

Here’s the Before Picture of the Hall Bath… Click on this picture and see what Staging does for it.

What if you don’t have the time or the skills to do Home Staging…?

If you don’t have the skills, patience or the time to stage your home for sale, you can always hire a professional.   Most of these staging companies have various pricing options and many of them will even put together a slide show of their finished project for you.   Click here for the link to the staging company that the work on this home.

MAKE IT A GREAT DAY…!!!

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

Enhanced by Zemanta