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They Call Me Mr. Ed – The Best Darned Real Estate Blog Period…!

How’s the Real Estate Market…?

Leave a comment Folsom Homes for Sale / Folsom Rental Properties / Foreclosure / Investment Real Estate / Landlord Tenant Issues / Property Management / Real Estate Sales / Rental Rates

Foreclosures At a 20 Year Low

I get this question all the time from people asking me “how is the real estate market?”.

The short answer is, Great…!

I have some links below that will give you some insight but in the greater Sacramento Area I think it’s one of the best I’ve seen.   Why do I say that…?

Have you tried to get a contractor or handyman to fix something at a rental…?  When you’ve got contractors busy with a back log of weeks out, that’s probably one of the best signs of a great real estate market.

 

Click Here for an article regards the low Foreclosure Rate.

And if you’re an investor curious about rents, click here for that article.

Aerial shot of Folsom, California with Folsom Lake in background.
Aerial shot of Folsom, California with Folsom Lake in background.

If you’re thinking of getting into the market for a new home or you are an investor looking to purchase your first rental property or you want to add to your portfolio, please call/text or email me at anytime.

 

Looking for a Duplex to buy…?   I’ve got one that you should take a peek at.   Click Here for the information on this Bread and Butter Property waiting for you.

 

 

In the Mean Time…?  Make it a Great Day…!

Ed Favinger, Broker, CRS, GRI, SFR    916.203.1260   favinger@rwnetwork.com

 

Back Yard Landscaping is Important in a Rental – Don’t Overlook It…!

Leave a comment Folsom Homes for Sale / Folsom Rental Properties / Investment Real Estate / Landlord Tenant Issues / Property Management / Real Estate Sales / Rental Rates

Check out this graphic from the California Association of Realtors.

Back Yard Landscaping is important because some of these people also rent as well.   While this graphic applies to Home Buyers, trust me as a property manager and investor with 35 years of experience, don’t ignore the back yard for your renters.

A back yard with patios and landscaping is a cheap addition to “living space”.   With the great weather we have here, it makes sense to give the people who rent from you more value don’t you think…?

So if you want more money from your rental investment, fix up the back yard and watch how much your tenants appreciate it because they will pay you back with higher rents.

Click here for a picture of the back yard landscaping of a Duplex we manage for an investor that took our advice.    In a few more years the shrubs around this  yard will provide a lot more shade, privacy and of course more value if they ever decide to sell.

That is because they get more rent then other properties like this that do not have this upgrade.

Let me know what you think.

 

one cool thing yards

 

In the mean time…?

Make it a Great Day…!

Ed Favinger, Broker CRS, GRI, SFR, CDPE

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Rates Can Still GO LOWER – Believe it or Not..!

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

See Frank and Brian – The National Real Estate Post Update

If you want to keep up in the Real Estate world, you might watch these guys from time to time because they do have interesting perspective… Then, after you watch the video below,  sign up for their updates.

If you’re looking for a new home or investment property it helps to have a finger on the pulse of the market and these guys are just one source.

frank and brianThey do regular Real  Estate and Mortgage Loan updates during the week.   I can’t watch them all but the headline today did catch me so I had to “point and click”  to check out what they had to say.

They deliver some great information and a little humor as well thrown in.

I think you’ll find this video worth the time and if you like these guys…..? go sign up for their updates.. !  You don’t have to be in real estate or the lending business to get on their list.

The “relevant” point regarding rates starts at the 3:56 mark

I think you’ll come away with the idea it’s not a bad time buy.  Rates for “investment” properties as of yesterday were at the 4.375% and “owner occupied” at around 3.50-3.75%.

If you’re renting, rents are going up and buying a home is actually “cheaper”… so you might want to consider getting into home now.

In the Mean Time…?

Make it a Great Day…!

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

 

Are we in a Bubble…? Not According to the Affordability Index…!

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

bubble_mania

No One Knows for sure… But Here’s some Stats You Should Look At…!

I remember the Real Estate Market back in 1989 and of course the big crash in 2007-2008.

If you want my opinion…?  I don’t think we’re there yet.   If you look at the links below, you’ll see what I’m talking about.

In 1989 I moved here from the Bay Area and the Index then was I believe about 19% of the folks living there at the time could afford to buy the median priced home with 20% down. Here in the Sacramento Real Estate market it was about 49% back then.

When we got to the top of the market in say, late 2004,  the index was way down through out the state. I’ll let the indexes below give you the data.   Take a peek at them and then decide for yourself if we’re in a bubble.   I think you’ll be surprised at what you’ll see.

Let’s talk about FIRST TIME BUYERS – it’s even better for them.

Bottom line is while interest rates are low and prices are going up some, there’s plenty of demand for Residential Real Estate.  There are plenty of Buyers out there but not much inventory to choose from.

If you’re thinking of buying and you’re worried we might be in a bubble, historically speaking we have a ways to go.

If you’re thinking of Selling you’ve probably heard from more than one source how low the inventory is so call me to get the latest valuation of your property.   We specialize in Single Family Homes, Duplexes, Four-Plexes and Small Apartment complexes.   If you’re in Investor, we also do Property Management.   So give us a chance at your business today.

In the Mean Time…?

Make it a Great Day…!

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

 

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Sacramento Real Estate Market is On a Roll…!

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

Bottom Line…? It’s the Affordable Index..!

I received an email update from the Sacramento Business Journal this morning and thought I’d pass it on.

Some of the larger Real Estate companies in the area are talking about how the market is going to be about the same as it was last year.   Click Here for the Article, but read below why.   It’s not discussed in the article but below you’ll see why it’s important.

My take on what makes a great market…?   Buyers who can qualify for a loan and purchase the inventory.

If you look at the links below, you’ll see why,  even though prices have risen a lot over the last few years, the “affordability index” shows there’s plenty of Buyers out there able to qualify and purchase a home in this market.

Why is this important…?  It’s a gauge in my opinion to know when a market is about to change.   For instance I remember when I moved here to Folsom in 1989, the index was at 19% of Buyers who could qualify for the median priced home using the “traditional method” in the San Francisco Bay Area,  while it was at 49% here in the Sacramento area.Affordability_2015-Q3

Just before the big crash of a few years ago in late 2006 I saw an article where the index was at 19% here.   Shortly after I read that report, I started seeing lots of short sales and REO’s hit the market just like it did in the early 90’s.

From the data below you’ll come away with idea that we’ve got a long way to go before prices go up so high they become unaffordable.   Of course this assumes  interest rates stay near where they are now.

 

 

 

First Time Buyers

First Time Buyer’s Affordability Index

First Time Buyer’s Affordability Index Methodolgy

 

Traditional Affordability Index

The Affordability Index

Traditional Housing Affordability Index Methodology

Let me know what you think.

If you’re thinking about buying a home or an investment property,  today’s data should give you confidence your decision to get into the market.   Call, Text or Email today and we’ll get you started on your way.

We specialize in sales of Single Family Homes, Income and Investment Property such as a Duplex, Four Plex or even an Apartment complex.      Don’t forget we also offer Property Management services – Click Here for Our Property Management Page.

In the Mean Time…?

Make it a Great Day…!

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

 

 

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