Thursday, January 21, 2021

New listing - 2229 Greatfield Drive, Roseville, CA 95747

This is it! Stunning single-story 4 bedroom, 3 bathroom, approximately 2,439sf home in Fiddyment Ranch Village! You will love the light and bright open layout and new laminate flooring. Enter to find a sunny living room off the entryway, and a remote front bedroom with ensuite bathroom - perfect for home office or multi-generational living! Enviable kitchen features granite countertops, upgraded raised panel cabinetry and gas cooktop with an extended eat-in bar top counter. Huge family room overlooks the backyard. Spacious hallway bedrooms, and hallway bathroom with dual sinks. Primary bedroom overlooks the backyard, with ensuite bathroom that has an enviable walk-in closet, separate tub and shower, as well as dual sinks. Private backyard, patio and lots of sunny space to garden or play! 3 car garage. Ideal location just a stone's throw from C. Doulton Burner Park, and just down the street from natural open spaces with running and biking trails. Close proximity to highly sought schools including new elementary & high school. Don't wait! For more photos and a 3D virtual tour, please visit 2229 Greatfield Drive, Roseville, CA 95747.

Wednesday, January 13, 2021

California Proposition 19 what? Property tax basis portability explained... kinda...

I have had several seller clients ask me recently about the implementation of California Proposition 19, which passed back in November. I think most people assumed it would go into effect at the beginning of 2021, however that is not the case. I prepared a table that I hope will be a helpful reference tool for those seeking general information. 

The property tax basis portability element of Proposition 19 actually goes into effect on April 1, 2021. 

This allows seniors (over age 55), the victims of wildfires, and severely disabled to transfer their existing property tax base up to 3 times, anywhere in the state, and to a property of higher or lower value. 

Many Sacramento home sellers have asked me if they can sell the current home and close the sale prior to April 1. Or if a home they sold in 2020 would qualify if they have not purchased another one yet. The short answer is - I do not know. 

Proposition 19 (which was Assembly Constitutional Amendment 11 in the state Legislature) does not address that. A qualified homeowner has 2 years to identify and close on a replacement property to transfer the low property tax base over to, however it is unclear if that 2 years commences on April 1, or there is perhaps a 2 year lookback period commencing on April 1.

It is possible that there will be some new legislation introduced soon to eliminate that ambiguity in Proposition 19, but as of this minute there is no clarity. 

For now, I suppose the safest solution is -- do not close the sale of your current home until April 1 or later. Realistically, if you want to list your Sacramento home in the near future, you should be able to do so. The closing date of your transaction is completely negotiable. And your listing agent can note in MLS that the sale must close on or after April 1.

So for example, if you were to list your home on February 17th, respond to offers received on the 24th, get into contract with your buyer on the 26th, -- closing on Friday, April 2nd would be slightly over a 30-day escrow. 

I have a couple seller clients who will be employing this very strategy. It's a seller's market right now, and they'd love to list their homes asap.

Since I am not an attorney and not a CPA, it is best to get tax and legal advice from qualified professionals. 

The Sacramento County Assessor's office has prepared some Prop19-related information with linked forms as well here.

Wednesday, December 23, 2020

Do you have a home for these buyers?

Do you have a home for any of these buyers? With the current lack of real estate inventory in our local Sacramento region, I thought that perhaps I would send this out to the universe with the hopes that someone thinking about selling might notice that I have a home buyer looking for a home that sounds like theirs. So with that, here is a list of my buyer clients, their price ranges, and basic search criteria. If you are thinking about selling a home or know someone who wants to sell their home who has something like any of these, please do not hesitate to reach out to me - 916-342-1372 or I am happy to see if my clients are a fit for your home and explore next steps, or help you strategize preparing your home for sale.

Buyer A: Carmichael, Fair Oaks, Orangevale - this buyer is looking for a minimum of 3 bedrooms, 2 bathrooms, and about 1500sf, and would ideally prefer 4 bedrooms or a separate living and family room where they can have a home office. They prefer something that needs a little updating and are not scared by a fixer property. They'd love a larger lot (like more than 0.20ac or 8,700sf or so). They would also love a pool but that is not a deal-breaker. They are well-qualified for a conventional loan up to about $450,000.

Buyer B: Arden/Arcade, Carmichael - this buyer is looking for a single level 3 bedroom, 2 bathroom home under 2,000sf that is nicely remodeled. Specifically they want a remodeled kitchen that opens to the living space. They specifically do not want a swimming pool. They'd love a lot that already has a shed/workshop or space to build one. They are well-qualified for a conventional loan up to about $650,000.

Buyer C: Pocket/Greenhaven, South Land Park, Natomas (if Natomas, along the Garden Hwy Corridor) - this buyer is looking for a 3 bedroom, 2 bathroom home that is above 1500sf. They do not mind something that needs a little updating, but would also love something updated and turn key. They would love a pool, but a pool-sized yard that can accommodate a pool later works too. They are well-qualified for a conventional loan up to about $580,000. They could go higher for the right house if given the opportunity to sell their home first.

Buyer D: Carmichael/Del Dayo - this buyer is specifically looking for the Del Dayo neighborhood or very close to it, to be within the school boundaries of Del Dayo Elementary. They are looking for a minimum of 3 bedrooms, 2 bathrooms, 1600sf, and would love a built-in pool or a pool-sized yard that can accommodate a future pool. They do not mind a fixer. They are well-qualified for a conventional loan up to about $675,000.

Buyer E: Fair Oaks - this buyer is looking for a 4 bedroom, 2 bathroom, minimum of 1600sf, on a large lot (like more than 0.20ac or 8,700sf or so) with a built-in pool. Ideally this home would be situated in a somewhat private/quiet setting. They are well-qualified for a conventional loan up to about $725,000

Buyer F: Land Park, Curtis Park, Oak Park - this buyer is looking for a multi-family property. Ideally this property would be two detached units on one lot (home and an accessory dwelling unit, or two houses on one lot). They might also consider a duplex if perhaps situated on a corner lot where the entrances are separate or there are minimal shared/common walls. This buyer needs a at least one of the units to be vacant and to have 2 bedrooms to owner-occupy it. They are well-qualified for a conventional loan up to about $800,000. 

Buyer G: West Sacramento/Southport - this buyer is looking for a home in the Bridgeway Lakes community that is 4 bedrooms, 3  bathrooms, and 2700sf or more. They are well-qualified for a conventional loan up to about $650,000.

Buyer H: Midtown, Land Park, East Sacramento - this buyer is looking for a single level home with at least 2 full bathrooms. They prefer a fixer and are not scared of something that needs a significant amount of work. They are all cash buyers looking up to about $800,000.

Buyer I: Davis, Woodland, West Sacramento - this buyer is looking for a newer construction home (built within the last 20 years) of at least 3 bedrooms, 2 bathrooms, and 1500sf. They prefer a single family home, however in Davis they are also considering townhomes and condos. They are well qualified for a conventional loan up to $500,000.

Buyer J: Davis, El Macero - this buyer is looking for a minimum 5 bedroom, 3 bathroom, 2,000sf home. They do not want a home built more than 50 years ago. They are doing a 1031 Exchange and the minimum purchase price must be about $800,000, and they can spend up to about $1.2M.

Buyer K: Midtown, East Sacramento - this buyer is looking for a 2 bedroom, 1 bathroom home or condo and would like to be a reasonable walking distance to the state Capitol and surrounding area. They are well-qualified for a conventional loan up to about $500,000.

Buyer L: Midtown, Downtown - this buyer is looking for a 3+ bedroom, 2+ bathroom, 2,000sf+ home on the grid that is within a short distance to the state Capitol, restaurants, shops, etc. Ideally it is a higher density home or condo that is newer construction or significantly remodeled. It must have a garage and at least a small ground-level patio yard. They are well-qualified for a conventional loan up to about $1M.

Buyer M: East Sacramento, Sierra Oaks - this buyer is looking for a 4 bedroom, 3 bathroom, 2,400sf+ home that is newer construction or substantially remodeled. It is either within close proximity to UC Davis Medical Center or to Country Day School. They are well-qualified up to $1.5M.

Thursday, December 10, 2020

November 2020 - Sacramento pandemic housing market statistics, inventory, home prices, etc...

We are now nearly 9 months into our COVID-19 pandemic. And just how is the Sacramento real estate market during the pandemic? I answer this question for my clients every day. In short: the market has been crazy. And strong. 

While in December 2020, we are FINALLY seeing something that looks like a normal seasonal slowing typical of the holidays, the combination of really low numbers of homes on the market, really low sub-3% interest rates, and people highly valuing different uses of space has lead to HIGH buyer demand and LOW SUPPLY, and increased prices. In fact, from November 2019 to November 2020, according to Trendgraphix, the median home price in Sacramento county has increased 15.3%, from $385,000 in November 2019 to $444,000 today.

Multiple offers abound, homes selling for more than listing price, prices increasing. I know: this is contrary to what you were probably thinking. But if you dig into the dynamics and data it makes a lot of sense. I wrote about Sacramento real estate market dynamics in July 2020 and the housing market trajectory in Sacramento has remained the same.

If you look at the number of homes for sale, there are approximately half the number of homes available on the market in Sacramento as there were this time last year. And you will also notice that far more homes in contract or that have sold compared to the same months last year. Referring to the graph, it is a stunning illustration of the supply and demand of the current Sacramento housing market. You will see that in June, July, August, September, October, and just in November there were MORE homes that went into contract (dark green bar) or sales that closed (red lines) than the number of homes available. That is absolutely breathtaking.

Aside from a slight slowing that is normal for this time of year with the holidays, I do not see any signs of slowing buyer enthusiasm. In fact, in the last couple of weeks since Thanksgiving, I have received numerous calls from new home buyers who are proclaiming that 2021 is the year they will buy a home.

I think as the pandemic has unfolded there are many people who had planned to sell their homes who have hunkered down, deciding not to sell yet. I personally have several would-be seller clients who were ready to list their homes before COVID-19 hit who are staying put for now. I am still listing plenty of properties -- folks still need to move, whether relocating out of state, or moving to different school districts, or moving closer to work, finally getting that home with a pool they always wanted, or upsizing to have a home office, or downsizing after the kids move out, or selling an empty home in a living trust or probate estate, etc. But many sellers are holding off to see what happens.

2021 should be an interesting year. 2020 sure has been! 


Tuesday, December 1, 2020

Earned a Certified Probate Real Estate Specialist (CPRES) designation

Not that I have loads of spare time, but as we are spending more time at home during the COVID19 pandemic, I have dedicated more time in 2020 to continuing education. While I have closed many probate estate transactions and already consider that to be an area of expertise, I recently earned a Certified Probate Real Estate Specialist (CPRES) designation. This additional education will be an asset as I assist estate personal representatives throughout Sacramento to sell properties that are in probate estates

Probate is a legal process through which the applicable county court verifies that a deceased person's assets are distributed according to the deceased's Will or via applicable law. Most people filing for probate need to connect with an attorney who specializes in estate law - I know several great ones if you need a referral.

It is an emotional time for any family, and a confusing path to navigate. Having an expert to help sell the real estate assets of a probate estate is really a key. 

This is a path I have traveled both personally and professionally. Not only have I sold many homes via probate processes, but I have also been the personal representative and administrator of my mom's probate estate when she passed away unexpectedly. 

I know first hand what the process is like from the inside out, and I try to smooth out the rough edges for my clients. 

Thursday, November 19, 2020

New listing - 11837 Delavan Circle, Rancho Cordova, CA 95742

Stunning single level 4 bedroom, 2.5 bathroom, approximately 2,401sf Rancho Cordova / Anatolia home, lovingly maintained by just one owner! You will appreciate the optimal integration of indoor and outdoor spaces. Formal entryway leads to sizable living room with large sunny windows that let the outside in! Large formal dining room. Spacious open kitchen with pantry, granite counters, island and breakfast bar overlooks the large family room and has access to the backyard! Spacious hallway bedrooms and hallway bathroom on one side of the house, while your private primary suite is situated on the other side- enjoy dual closets and a sitting area that leads to the backyard. Luxurious ensuite bathroom offers dual sinks and a separate tub and shower. 3-car garage. HUGE, park-like backyard has enviable manicured gardens, seasonally blooming flowers, and lots of space to enjoy coffee and conversation or the perfect al fresco dining on a crisp evening. All this with the amenities of the Anatolia HOA (dues $103/mo), pools, gym, parks, trails, and more! Don't wait! Offered at $529,900. For 3D virtual tour, additional photos and detail please visit 11837 Delavan Circle, Rancho Cordova, CA 95742.

Wednesday, November 11, 2020

New Listing - 640 Casmalia Way, Sacramento, CA 95864

Your home search is over! Lovingly maintained by the same owner for nearly 3 decades, this impeccable 2 bedroom / 2  bathroom, approximately 1,654sf Arden Park home is ready to be somebody's new beginning. You will love the spacious, open layout. Enter to find a sizable living room with a large sunny window that lets the outside in, wood floors, and a cozy fireplace with gas starter. Formal dining room with built-in storage bench and shelving. Remodeled kitchen with stainless appliances leads into a large family room. Two spacious hallway bedrooms with lots of closet space. Hallway bathroom has a separate tub and shower. Large bonus room with bathroom is great for a home office or possible 3rd bedroom. HUGE, park-like backyard has lots of sunny space to garden or play. Entertain guests on the expansive deck, or enjoy the perfect al fresco dining on a crisp evening. Composition roof, central HVAC, dual pane windows, attached garage. All this located near award-winning k-12 schools, parks, shopping & more. Don't wait! For more information and a 3D virtual tour visit 640 Casmalia Way, Sacramento, CA 95864.

Wednesday, November 4, 2020

New Listing - 4328 Edison Avenue, Sacramento, CA 95821

Stunning 3 bedroom, 2.5 bathroom, approximately 1934sf home in Arden Arcade offers an optimal blend of indoor and outdoor spaces. Where would you like to hang out on this .41ac lot? By the built-in pool, under the shade of the awning or canopy of trees, in your sunny garden...There are abundant options for coffee and conversation, or the perfect al fresco dining on a crisp evening. Inside, the formal entry leads to a spacious living room with a gas fireplace. The remodeled kitchen is the perfect place to refine your culinary skills. A separate family room awaits, with a half bathroom and small bonus room perfect for exercise equipment. Spacious hallway bedrooms and remodeled hallway bathroom. Primary bedroom has dual closets and luxurious ensuite bathroom with dual sinks and a step-in shower. The backyard is an outdoor oasis with a custom pool, trimmed with flagstone and stamped patio, surrounded by manicured gardens. All this with remote/access controlled driveway gate. Bring your RV or toys! Section 1 and 2 pest clearance. New section of sewer line. Don't wait! Offered at $525,000. For more photos and a 3D virtual tour, visit 4328 Edison Avenue, Sacramento, CA 95821.