Wednesday, September 13, 2017

New Listing - 6308 & 6310 Blackstar Drive, Citrus Heights, CA 95621

Excellent real estate investment opportunity with this well-maintained Citrus Heights duplex. Convenient and high-demand location. This property is a 2 bedroom/1 bathroom/1-car garage and a larger 2 bedroom/2 bathroom/1-car garage duplex, each side with long-term tenants. Spacious units flow nicely with lots of living space, open layouts, big bedrooms, ample storage, and private backyards. 6308 have newer flooring. Reports, income/expenses, and maintenance records available. Located near shopping, public transportation, parks, schools, and I-80. Offered at $338,000. For more photos and detail, please visit 6308-6310 Blackstar Drive, Citrus Heights, CA 95621.

Wednesday, September 6, 2017

New Listing - 5333 T Street, Sacramento, CA 95819

Adorable 2 bedroom, 1.5 bathroom, 1,260sf home on Elmhurst's highly sought T Street Parkway! You will love the classic features coupled with the modern amenities. Light and bright floorplan, wood floors, updated kitchen with stainless appliances, dual pane windows, large bedrooms, central heat and air, lots of storage space, detached garage, drought-tolerant front landscape. Huge backyard is the perfect place to entertain with covered outdoor kitchen and fun beer garden area! Close to UCDMC, East Sacramento, parks, restaurants, and more. Don't wait! Offered at $459,900. For more information and a 3D tour, visit 5333 T Street, Sacramento, CA 95819.

Wednesday, August 23, 2017

New Listing - 2008 Benita Drive, Unit 4, Rancho Cordova, CA 95670

This 2 bedroom, 1 bathroom, 924sf upper-level Rancho Cordova condo is a great investment opportunity! You will love this low-maintenance, cute, clean unit, light and bright open floorplan, updated kitchen with granite counters, updated bathroom with tile tub surround and newer vanity, laminate flooring, and window coverings. Well-manicured gated community. Conveniently located near the American River, parks, public transportation, the new Folsom Lake College campus, Hwy 50, shopping, k-12 schools, and more. Don't wait! HOA dues $267/mo. Offered at $102,500. For more photos and additional detail, visit 2008 Benita Drive #4, Rancho Cordova, CA 95670.

Tuesday, August 22, 2017

Saw the 'Great American Eclipse' in Salem, Oregon -- in the path of totality...

A year ago my husband asked me if I was doing anything on August 21, 2017...my schedule was free of course. He pitched the idea of visiting Salem, Oregon to see a full solar eclipse in its path of totality. Sure, 'why not' I thought. He and I saw an annular eclipse at its totality in Redding in 2012, which was neat. This would probably also be neat.

Honestly, the annular eclipse from 2012 was cool to check out, but I was not blown away. During an annular eclipse, the moon is further away from the earth and appears smaller from earth, so while it does cover the sun it never blocks the sun completely. A little ring of sun is still visible around the moon, and you still can't look directly at it without blinding yourself. So it looked like a Cheerio through eclipse glasses. Again neat. A lot of people turned out to view it in Redding.

Ok so I figured this full solar eclipse would be neat too. I agreed to go. My husband made all the arrangements, booking our hotel stay a full year in advance.
All I can say is that this full solar eclipse was so far beyond neat. It was definitely one of the most spectacular things I have EVER seen. I was not expecting to be so amazed by it. It was more than worth the hype! Up until the complete "totality" the eclipse could only be viewed using special eclipse glasses...during the totality, it was visible without glasses and was absolutely beautiful - like a glowing, floating orb I don't think I could ever fully describe.

This video does not do the eclipse justice at all, but perhaps my reaction and the crowd's reaction may indicate just how awesome it was. My husband set up his Nikon and captured some images that are better but still don't do it any justice.

With that, bring on 2024 when there will be another one visible in the United States!

Wednesday, August 16, 2017

New Listing - 3017 9th Avenue, Sacramento, CA 95817

Adorable 2 bedrooms+loft, 2 bathroom, 1,400sf home near Curtis Park! You will love the light and bright spacious, open layout, cute kitchen opens to the dining area and living room, inside laundry, laminate flooring, big bedrooms, master suite opens to backyard, and huge upper loft/possible 3rd bedroom! Deep lot offers lots of sunny spaces to play or garden. Newer central heat and air, newer roof, attached 2-car attached garage. Short distance to Curtis Park, Sac City College, K-12 schools, fun shops and restaurants. Don't wait! Offered at $349,000. For more photos and a 3D virtual tour, visit 3017 9th Avenue, Sacramento, CA 95817.

Thursday, August 10, 2017

July 2017 Sacramento County Real Estate Statistics...

This summer has pretty much flown by and candidly, I can't believe that the kids are going back to school this week, and that the 90 degree days are a welcome relief from the scorching hot temperatures we had in July. Pleasantries aside, the Sacramento real estate market, just like the weather, seasonally changes a bit this time of year and 2017 seems to be no exception.

Inventory has increased! Thank goodness, because the market sorely needs it. Though by increased, I mean it went from about 1 month of inventory for sale, to 1.4 months of inventory for sale. 1.4 months of inventory is still super low. It is still a seller's market for homes priced correctly...multiple offers abound. A balanced market where neither buyer nor seller have an advantage is between 4-6 months of inventory for sale.

A seasonal increase in inventory is typical. If you compare this to the market dynamics from July 2016, you will see it looks remarkably similar.  I expect things will be much the same this year.

The July 2017 Sacramento County single family median home price climbed to $355,000...if typical trends for this time of year hold true, the median price should bump along for the rest of the year and not change too dramatically.

The market is still far from our peak median home price, which per Trendgraphix was $395,000 from August 2005. Adjusted for inflation to today's dollars, that median value would have to reach $492,653 (using the US Department of Labor Consumer Price Index Inflation Calculator) to be equivalent to our previous peak.

I see A LOT of demand for purchasing Sacramento homes. My buyer clients face lots of competition from other buyers, and my sellers enjoy the multiple offers. For one, Sacramento rent prices have increased quite a bit, and with that many renters who can afford to buy are looking to purchase to stabilize their monthly housing expense. Additionally, there are many people looking at Sacramento as a less expensive alternative to the bay area where median home prices are more than double and triple those in Sacramento (my most recent closed sale just last week was for a family relocating to Sacramento from Oakland). And then there is the fact that during the decline, fewer homes were built in the greater Sacramento area - so we did not increase the amount of housing stock to keep up with people creating households in the area. We are seeing some new development in Sacramento though not nearly enough.

So with that, the low supply coupled with the high demand and strong underlying economic conditions should keep the Sacramento real estate market on its current trajectory for a while...

Tuesday, August 8, 2017

New Listing - 3622 Sardinia Island Way, Sacramento / Natomas, CA 95834

Elegant and better-than-new 3 bedroom + den, 3 bathroom, 1,941sf home at Courtyard Westshore Natomas! You will love the light and bright spacious layout, high ceilings, high end custom window coverings, lots of storage, downstairs den/possible 4th bedroom, downstairs full bathroom, kitchen with maple cabinets and granite counters, upstairs loft area with built-in desk area, huge master suite with separate tub and shower, 2-car attached garage, low maintenance backyard. Close to parks, schools, and more! Homeowners Association dues at $92/mo covers common area and front yard maintenance. Offered at $359,000. Don't wait! For more information, photos and a virtual tour visit 3622 Sardinia Island Way, Sacramento, CA 95834.

Friday, August 4, 2017

Proactively avoiding appraisal conditions issues where I can...

I have written in the past about repairs required by appraisers as a condition of funding a loan on a property, and thought I would post this with a slightly different spin: pro-active repairs before the appraiser has the chance to require them!

I keep my eyes open for red flags on properties that I am listing or where I am representing buyers...in this case, on a property one of my buyers is in contract to purchase, I noticed an electrical outlet without a cover plate, and a hole in the wall where some speaker wiring was popping out. These were both in the little alcove where a television would likely be.

So today, prior to the appraisal which should happen next week, I spent $1.28 and went by the property and installed two cover plates.

My buyer is using a FHA loan which comes with a heightened standard for condition of the property, and an appraiser would definitely call this condition out to be repaired. When an appraiser calls out repair items, that also means they have to revisit the property once the repairs have been completed to visually verify the repairs are done. The fee for the 2nd visit is $150. So for $1.28 and an extra trip to the house, I likely saved my client the $150 re-inspection fee.

It's wise if you are a buyer or seller to address these issues up front so they are non-issues later.