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

2 Comments Foreclosure / General / Investment Real Estate / Property Management / Real Estate Sales / Short Sales

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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Cash Flow Potential – Bank Owned & Short Sale Duplexes – Citrus Heights

3 Comments Foreclosure / Investment Real Estate / Property Management / Real Estate Sales / Short Sales

Here are a couple of Duplexes that are both unique.

One of them just came on the market about a week or so ago.   I drove by to view the area and while I was out there taking pictures of the exterior, one of the tenants came out and we had a conversation.   She likes the area, but the building has had some issues, notably the roof.  

If you look at the pictures of the property, you’d never know.   She did say that an inspector did come out there and she was told that the roof would need some major work.   The owner has been unable to make the repairs so she’s been putting up with a leaking roof.   That’s why she said she was looking for a new place.

The property is located at 7130-7132 Grady Drive, Citrus Heights, Ca 95621.    Click here for a “pro-forma” cash flow analysis.  Keep in mind that these figues do not include the cost of a new roof, but even if it cost $10,000 to replace it, in my opinion, this would still be a decent deal in today’s market.    Click here for a Map Link to show you the major intersection that is nearby.   The City of Citrus Heights city hall, police station and lots of shopping are located about a mile away if that.  

By the way, I got an email from the agent earlier today telling me that this property has 2 loans on it.   She also said she had several offers coming in,  so we’ll see how that one goes.

The other one, located at 7542-7544Saint-Philomena Way , is a Bank Owned or REO Duplex that came on the market last October.  Since then it’s been in and out of escrow a couple of times and just came back on the market a coule of days ago.   I did a profile of it back then including a Palm Video.   

Make it a great day…

Ed Favinger, Broker CRS, GRI           916-203-1260             email me at:   favinger@rwnetwork.com

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

Leave a comment Foreclosure / Investment Real Estate / Property Management / Real Estate Sales / Short Sales

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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Hot Bank Owned Properties – Sacramento – Cash Flow Opportunities

Foreclosure / Investment Real Estate / Property Management / Real Estate Sales / Short Sales

What About Short Sales…?  They’ re Hot too.

If you’ve been to this site before,  you already know that I am a big fan of Duplexes… especially the “REO or Bank Owned” type because they are for the most part deeply discounted from their highs from years past.

The dis-advantage to a Bank Owned or REO deal is that,  while you get the property at a dicounted price, there will be that “as is” thing they insist on and with rare exceptions they don’t deviate from it.   You get these deals with the property vacant, which means you have to go in and do the “fix up” to get them in a “rent ready” condition.  If you want to see what an vacant REO/Bank Owned property can look like, go here.

Now even “Short Sales” are becoming a great deal because the banks are now more willing to complete them in a timely manner.   

OK… Why do I say Short Sales are Hot Too…?

Well, for starters, most of the time in a Short Sale the property is still occupied by Tenants.   The trick is to get one that has “rent paying tenants”.   However, even though the case may be they are not paying rent, this could be the result of  the tenants having been notified that a foreclosure is pending and they are holding funds in case they have to move.  Or… the current owner has just abrogated the responsibilty and is not even making an attempt to collect it.

Either way in most cases you can work a deal out with the existing tenants to have them stay.   Now keep in mind when an owner is in this situation, you will probably run into an old “deferred maintenance” issue that has been neglected by the current owner which,  if resolved by you, will go a long way in keeping the tenant there and happy to stay.

The advantage then of keeping the tenant there is that you will not have to go in and spend the extra “bucks” to re-rent the unit.  

And Finally.. the best reason to go after a Short Sale now is you still get the same “discounted” or “market price and that Lenders are beginning to approve them much quicker than in the past.    How cool is that…?

If you want a list of REO/Bank Owned & Short Sales…?

You’ve come to the right place.  I’ve analyzed both types and prepared “pro-forma” Cash Flow figures for each one on this page.  I’ve got videos too on some of them.   If you book mark this page, you will get updates as I go out and view these properties and post the information.

Make it a Great Day.

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

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Bargain Prices Lure Homebuyers in February – Sacramento Business Journal:

Leave a comment Foreclosure / Investment Real Estate / Real Estate Sales / Short Sales

Just One of many homes for sale in Folsom, CaliforniaGood News in The Hunt for a Home.

Hey.. Looking for some good news…?   Well here’s some.   Take a look…  I ran across this article regarding New Homes Sales in the region that was in the Sacramento Business Journal.

Bargain prices lure homebuyers in February – Sacramento Business Journal:.

Make it a great day.

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

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