New Listing - 4744 Greenholme Drive - Unit 4, Sacramento, CA 95842

Updated and move-in ready 2 bedroom, 1 bathroom, 924sf Sacramento condo with extensive improvements throughout. Why rent when you can own? You will love the light and bright layout, brand new luxury vinyl plank flooring and new baseboards, and freshly painted interior. The updated kitchen features oak cabinets, with granite counters, brand new dishwasher, and a brand new range hood. Two large bedrooms, one with a huge walk-in closet. Updated bathroom has granite counters, dual sinks with new faucets, new toilet, new shower head, and a tub/shower combo. Updated recessed lighting throughout. Additional improvements include dual pane windows and window screens, brand new front door and front screen door. Central heat & air, attached garage space, and a convenient location close to freeway access, transit, and shopping. Don't wait! HOA dues $387/mo. Offered at $175,000. For more photos and information, please visit 4744 Greenholme Drive - Unit 4, Sacramento, CA 95842.

Featured in a Comstock's Magazine article about how potential home buyers can expand their options...

I was featured this month in a Comstock's Magazine article about how potential home buyers can expand their options...It is no secret that our Sacramento real estate market is ever-changing, and we are approaching what is usually a really heated time of the year: spring. Buyers have surely been constrained by limited choices over the last year or so, and the increased interest rates definitely do not help affordability -- but there certainly are ways for buyers to win in this market. You can read the full article here.

The data from the National Association of Realtors reinforces the wealth-building potential of homeownership. With the median net worth of homeowners far exceeding that of renters, the benefits are clear. 

In the dynamic world of real estate, achieving the dream of homeownership can feel like an uphill battle, especially in Sacramento's competitive market. However, my nearly 19-years of experience as a Sacramento real estate agent has taught me valuable lessons on how potential homebuyers can broaden their search criteria to make their homeownership dreams a reality. 

I challenge the traditional notion that a 3-bedroom, 2-bath home in a specific location is the only path to homeownership. I urge my clients to have open and honest conversations about their true needs and priorities, separating them from mere wants. 

One strategy I often encourage clients to think about are alternative property ownership models. I've seen firsthand how clients have successfully purchased duplexes or other multi-unit properties and shared the property, or opted for condo living over traditional homes with yards. These approaches can offer both affordability and lifestyle benefits. 

Sacramento's diverse micro markets present a wealth of opportunities for motivated homebuyers. By understanding local trends and price points, buyers can find creative ways to make homeownership possible, even in the face of challenges like increased interest rates and limited inventory. While external factors like interest rates and inventory levels may seem daunting, I emphasize the importance of focusing on what's within one's control. Prioritizing aspects such as income, education, credit score, and debt levels can significantly impact one's ability to secure a home. 

New Listing - 2487 Torino Street #6, West Sacramento, CA 95691

Lovely 2 bedroom, 2 bathroom, 1,307 updated ground floor single level condo in Riva on the River in West Sacramento! You will love the open spacious layout, large kitchen with granite counters and pantry cabinet, window coverings throughout, freshly painted interior, brand new flooring, master bedroom suite w/outdoor access and large walk-in closet. 2-car tandem garage. HOA dues are $220 per month. Community has lots of great amenities such as a built-in pool, playground, and manicured green space. Short distance to the river, downtown Sacramento, schools, shopping, and freeways. Don't wait! Offered at $299,900. For more photos and information visit 2487 Torino Street #6, West Sacramento, CA 95691. MLS#18028657

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.

New Listing - 3026 Swallows Nest Drive, Sacramento, CA 95833

Beautifully updated 2 bedroom, 2 bathroom, 1,257sf unit in the highly sought Swallows Nest community! You will love the spacious layout, updated kitchen with granite counters, new laminate flooring, new carpet, dual master bedrooms with updated bathrooms, new central heat and air (2017), attached 2-car garage, private deck, secluded serene setting. Homeowners Association offers a manicured 9-hole NCGA golf course, tennis courts, swimming pools, guarded front gate, and more. Located minutes from the Sacramento River, close proximity to Downtown Sacramento. Don't wait! Offered at $245,000. HOA dues $416/month. For more photos and a 3D virtual tour visit 3026 Swallows Nest Drive, Sacramento, CA 95833.

New Listing - 7110 Stella Lane, Unit 13, Carmichael, CA 95608

Adorable ground level 2 bedroom, 2 bathroom, 1,000sf condo unit tucked away in a serene complex in Carmichael. You will love the easy access, spacious floorplan, cozy fireplace, newer carpet and paint, laminate flooring, updated kitchen with newer cabinets and granite counters, updated bathrooms, inside laundry. Big bedrooms, lots of storage space. Master suite has private patio. Nicely manicured setting, homeowners association has private pool and clubhouse. Located minutes from shopping and American River access! Don't wait! Offered at $164,900. HOA dues $335/mo. For more photos and information please visit 7110 Stella Lane #13, Carmichael, CA 95608.

Want to list your Sacramento area property on AirBnB or VRBO? Here's what you need to know...

"If I buy this downtown condo, can I just list it on AirBnB and rent it to legislators when they visit the Capitol?"... "What if I turn this detached garage into a 'granny unit' and rent it out on AirBnB?" Hmm...good questions.

I get asked pretty often about transient occupancy and short-term rentals. Just to clarify, a transient occupancy or short-term rental is one that is for a term of less than 30-days. Think of a place that might be rented using AirBnB or VRBO -- probably more commonly thought of as vacation rentals. This type of short term arrangement is becoming more common these days thanks to these websites, and can be a nice alternative for travelers who perhaps want to stay somewhere other than a hotel. (Side note: a rental in excess of 30 days does not fall into this category. A landlord-tenant relationship is created in that case, and an entirely different set of laws apply.)

For example, my family and I stayed in a home for 5 days that we rented on VRBO in Scottsdale when we attended the SF Giants Spring Training a couple years ago. It was a nice place and the convenience of having a home where 6 of us could all comfortably stay, with amenities like a kitchen and laundry facilities were great!

It sounds appealing -- and a nice way to supplement income renting out part of your home, or perhaps you have a rental property and you'd like to offer it as a short-term rental instead of leasing for a longer term...People visit Sacramento, right? But as a property owner, what are the local rules? Well, right now the rules differ all over our Sacramento region.

City of Sacramento: for properties within the city limits, the City requires owners to obtain a Short-Term Vacation Rental Permit and pay a fee of $125. Owners must also collect and remit 12%  Transient Occupancy Tax (TOT). And there is a different set of parameters if you are renting out space in your own primary residence, versus renting out a vacant/non-primary residence (such as a 90 days per year limit).

County of Sacramento: for properties within the unincorporated areas of the county (like Antelope, Arden, Orangevale, Fair Oaks, Carmichael, other non-city Sacramento areas, etc.), the county requires owners to obtain a Vacation Rental Permit and pay a fee of $270.66. Owners must also collect and remit 12% TOT. The county does not allow short-term rental of vacant/non-primary residence property.

City of Galt: it seems there is no specific ordinance regarding short-term rentals within the city limits, however if you own any Galt rental property you are required to get a business license from the city. They also require TOT.

The Cities of Citrus Heights, Folsom, Elk Grove, and Rancho Cordova all require collection and remittance of TOT, however it seems they have no specific policies governing short-term rentals right now. You may want to defer to the county's policies here.

Keep in mind that just because the city or county may allow short-term rentals, if your property is located in a Homeowners Association (HOA), the HOA may specifically prohibit short-term rentals. I have started to see this in a number of HOA documents for my transactions. Also, speaking with a local insurance agent, be sure that your property insurance policy covers this sort of activity. Most policies specifically exclude coverage for short-term rentals.

New Listing - 952 Q Street, Sacramento, CA 95811

Elegant updated 2 bedroom, 1.5 bathroom, 1,013sf unit in the Saratoga Townhomes in downtown Sacramento at 9th and Q Streets! You will love the great location and modern amenities; updated kitchen with granite counters and new stainless appliances, new laminate flooring downstairs, new carpet upstairs, freshly painted interior, new light fixtures. Private balcony with awning off upstairs bedroom, private patio off living room downstairs. Attached garage with direct access to unit. Bonus - Zone E parking permit included. Close proximity to all downtown has to offer - The State Capitol, Golden 1 Arena, Roosevelt Park, R Street Corridor, art galleries, great restaurants, and other nightlife! Don't wait! Offered at $339,900. HOA dues $269.44/month. For more photos and information please visit 952 Q Street, Sacramento, CA 95811.

New Listing - 5616 Victoria Lane, Citrus Heights, CA 95610

Beautifully updated and spacious 3 bedroom, 2 bathroom, 1,518sf unit in gated Sunrise Knolls community in Citrus Heights. You will love the tri-level layout, vaulted ceilings, newer laminate flooring and carpet, fresh paint, updated bathrooms, attached 2-car garage. Central heating and air, new water heater, Park-like community with manicured greenbelts, swimming pool and clubhouse, tennis courts and more. Convenient to shopping, schools, parks, and more! Don't wait! Offered at $199,900. HOA dues $340/mo. For more photos and information please visit 5616 Victoria Lane, Citrus Heights, CA 95610.

New Listing - 809 Crestwater Lane, Sacramento, CA 95831

Lovely ground floor single level 2 bedroom, 2 bathroom, 1,047sf Greenhaven condo / PUD! You will love the light & bright floorplan, new carpet & freshly painted interior, new light fixtures, dual pane windows & sliding doors, skylights, remodeled hallway bathroom with new tub/shower combo, new vanity, counter, sink, and flooring. Large master retreat with large closet and updated ensuite bathroom. Central heat & air, 2-car attached garage, multiple private patios. Close to shopping, public transportation, river, freeways & more! Don't wait! Offered at $175,000. FHA and VA loans ok. For more photos and information visit 809 Crestwater Lane, Sacramento, CA 95831.

Has Zillow improved in 2015 and gotten more accurate in predicting Sacramento home values? Well, no...

Zillow is a blessing and a curse. I'm sure by now most folks who have contemplated buying or selling a home in Sacramento have heard of this website by now. What is Zillow? Zillow.com is a website that, among other things, provides information about neighborhoods and properties.

Zillow is a neat website. I have an agent profile on Zillow. I have clients who have found me or found my listings using Zillow. However, my general thought about Zillow is that while it's a fun consumer tool that provides property information to people looking to buy or sell (or even rent property now), the vast majority of the time, the "Zestimate" (aka, the automated estimate of value that the website dreams up for a property), is usually not close to the market value of a Sacramento area property, and the homes listed for sale on the website are not always current. I usually look at Zillow before I meet with new sellers, because I know they have looked their home's value up there...this helps me know in advance if I will be surprising them with more value, or disappointing them with less value.

As I said, Zillow is a blessing and a curse. It's a blessing because it DOES have some useful information there, cool mapping tools, some property characteristics, etc. It's a curse because most people I talk to think Zillow has current data and that the website knows everything when it comes to local real estate values. Let me tell you -- it does not have current information, and an algorithm does not replace a real estate professional who intimately knows the market. Occasionally it will get reasonably close, but I find more often than not it is WILDLY off. And folks contact me every week asking about properties posted on Zillow that have already sold.

I posted a few times last couple years about how the sales prices of my transactions compare to Zillow data. I've closed 10 transactions in the last couple months so let's take a look to see how close Zillow is to the actual selling prices of these properties.  This information is current as of today, December 27nd, 2015.

10267 Croydon Way, Rancho Cordova, CA 95670; this was a short sale home I listed (represented the seller) in Rancho Cordova. The original listing price was $199,500 (price was pre-approved by the lender Wells Fargo and by Fannie Mae), and this closed on 9/17/15 for $195,000. Zillow's Zestimate: $229,404, approximately 15% above it's selling price. Wow...that's one heck of a difference.

3073 Sand Dollar Way, Sacramento, CA 95821; this was a home I sold (represented the buyer) in the Arden area. The original listing price was $399,950, and this closed on 9/18/15 for $361,000. Zillow's Zestimate: $305,224, approximately 18% below it's selling price. Hmm...we are 2 for 2 with large differences already.

4241 62nd Street, Sacramento, CA 95820; this was a home I listed (represented the seller) in the Tallac Village / Tahoe Park area. The original listing price was $269,900, and this closed on 9/30/15 for $275,000. Zillow's Zestimate: $266,444, approximately 3.2% below it's selling price. Ok that's at least a little bit closer.

7110 Stella Lane #13, Carmichael, CA 95608; this was a condo I sold (represented the buyer) in Carmichael. The original listing price was $117,900, and this closed on 10/5/15 for $118,000. Zillow's Zestimate: $116,555, approximately 1.2% below it's selling price. Ok, reasonably close.

2180 Weller Way, Sacramento, CA 95818; this was a home I sold (represented the buyer) in the Land Park neighborhood. The original listing price was $359,000, and this closed on 11/2/15 for $363,000. Zillow's Zestimate: $371,956, approximately 2.4% above it's selling price.

36 Glenville Circle, Sacramento, CA 95826; this was a home I sold (represented the buyer) in the College Greens neighborhood. The original listing price was $307,000, and this closed on 11/9/15 for $325,000. Zillow's Zestimate: $321,022, approximately 1.3% below it's selling price.

1750 Baines Avenue, Sacramento, CA 95835; this was a home I listed (represented the seller) in the Natomas Park area. The original listing price was $525,000, and this closed on 11/18/15 for $499,000. Zillow's Zestimate: $495,024, approximately 1% below it's selling price.

10 Shearwater Court, Sacramento, CA 95833; this was a short sale home I listed (represented the seller) in the Natomas Shorebird area. The original listing price was $375,000, and this closed on 11/20/15 for $380,000. Zillow's Zestimate: $474,204, approximately 25% above it's selling price. Yikes!

2025 Vallejo Way, Sacramento, CA 95818; this was a home I listed (represented the seller) in the Land Park area. The original listing price was $449,000, and this closed on 12/3/15 for $449,000. Zillow's Zestimate: $469,379, approximately 4.5% below it's selling price.

2025 Bidwell Way, Sacramento, CA 95818; this was a home I sold (represented the buyer) in the Land Park neighborhood. The original listing price was $599,000, and this closed on 12/4/15 for $599,000. Zillow's Zestimate: $560,980, approximately 6.3% below it's selling price.

So as you can see...there are a couple transactions where Zillow gets pretty close, however the vast majority are off thousands of dollars and several percent from the final selling price.

New Listing - 3715 Tallyho Drive, Unit 29, Sacramento, CA 95826

Adorable 2 bedroom, 2 bathroom Rosemont condo in "The Highlands." You will love the remodeled kitchen and bathrooms with granite counters, maple cabinets, and stainless appliances. Spacious light and bright layout, nice fireplace, big bedrooms, lots of storage space, dual pane windows, inside laundry, private patio and more! Gated community with park-like grounds, swimming pool, club house & tennis court. Conveniently located just minutes from CSUS, the river, downtown, and public transportation. Don't wait! Offered at $105,000. For more photos and information, please visit 3715 Tallyho Drive, Unit 29, Sacramento, CA 95826.

New Listing - 50 Regency Park Circle, Unit 8109, Sacramento, CA 95835

Lovely Natomas 2 bedroom, 2.5 bathroom, 1,303sf end unit condo with a 2-car attached garage. You will love the granite counters and stylish backsplash in the kitchen, custom paint selections, upgraded carpet & lovely tile floors. Lots of natural light! Desirable Plan C built by Warmington Homes - Serenade at Regency Park Community amenities include a built-in pool, barbecue area, & fitness center. Washer, dryer, and refrigerator included. Close to neighborhood parks, bike/running trails, shopping, and dining. Easy access to I-5, Downtown, and Sacramento International Airport. Don't wait! Offered at $159,900. For more photos and detail visit 50 Regency Park Circle #8109, Sacramento, CA 95835.

Every home owner starts as a first time home buyer at some point...myself included!

I vividly remember when I purchased my first home in 1998. I was young; a full-time college student, working a full-time job, and I had a small chunk of money that my parents told me I should use as a downpayment on a home. Homes were not really advertised on the internet at that point, and I looked through the newspaper for homes that looked interesting. I found my Realtor by calling about one of his listings. He was the only agent who took my inquiry seriously...others had blown me off. I didn't know where to start in the process. I just knew I wanted to buy a house.

Sound familiar?

This Realtor had the patience of a saint. I was not a big time client looking to spend lots of money but he still took time to work with me. He walked me through the home buying process from start to finish, and answered all of my questions. I had no idea what I was doing, and figured I might only go through the process a couple times in my entire life. He matched me to a great loan officer and helped me get pre-approved for a loan, listened to what I wanted, and showed me properties that matched my criteria. My Mom tagged along as we looked at property and helped me ask questions. After a couple months, and looking at a dozen or so properties, I ended up buying a bank-repo condo in Fair Oaks. It wasn't perfect - I immediately repainted many of the walls, and replaced the HIDEOUSLY UGLY electric blue laminate kitchen counters with white tile. But it was all mine.

That's me in the photo up top, the day I closed escrow, standing in front of my unit holding a housewarming gift. The other photo is at my housewarming party when my friends helped me break in my new BBQ. I was SO excited! Little did I know at that time -- years later -- I would get my real estate license and help first time buyers on a daily basis. Remembering my first home buying experience, I vowed to be like the agent who so patiently helped me with my first purchase.

So, if you are reading this -- know you are on the right track. The first steps involve reaching out to a Realtor and finding someone who is a good fit to help you with your home search. In conjunction with connecting with a Realtor, you will need to find a great lender to get pre-approved for a mortgage loan. I work with several outstanding loan officers I can refer you to who also work with lots of first time home buyers in Sacramento. The loan officer will help you establish your home purchase budget based on your income, explain all of the different loan programs available to you, see if you qualify for any downpayment assistnance, let you know how much your downpayment, closing costs, and monthly payment will be. Your Realtor will help you establish which neighborhoods you are interested in, what kind of home you are looking for, and what features are important to you.

Once you have laid the ground work for your purchase, the fun begins and you can start house hunting...there's a lot more from there that your Realtor and loan officer can review with you in person.

Just remember -- have fun, ask questions, get advice when you need it, and know that your home is out there. You just have to go find it. =)

New Listing - 7910 Walerga Road #601, Antelope, CA 95843

Classy 2 bedroom, 2.5 bathroom, 1,405sf tri-level Antelope condo in a gated community. You will love low maintenance living, sophisticated modern kitchen with stainless steel appliances, granite counters, breakfast bar, formal dining area, open light and bright living room, large bedrooms, covered patio area, and attached garage. Don't wait! Equity sale! Offered at $129,900. For more photos and information please visit 7910 Walerga Road #601, Antelope, CA 95843.

New Listing - 8020 Walerga Road, Unit 1016, Antelope, CA 95854

Classy updated second level condo in gated Antelope community - 3 bedrooms, 2 full bathrooms, and a private balcony with additional storage. You will love the remodeled kitchen with granite counters, separate dining area with breakfast bar, vaulted ceilings, spacious living room with fireplace, and ceiling fans throughout. Fresh paint, newer carpet, vinyl flooring, newer HVAC & water heater make this home move-in ready! Convenient to schools, parks, shopping, & freeway access. Don't wait! Traditional sale offered at $109,990 (HOA dues are $209/month). For more photos and information, please visit 8020 Walerga Road #1016, Antelope, CA 95843.

Short sale and appraisal crisis averted...but it put a crimp in my afternoon schedule...

I visited a short sale condo in Natomas today that I have in contract with a buyer client...it should have been a 5-minute visit to the property to let myself in, to install a carbon monoxide detector before tomorrow's appraisal, and then leave. But those plans were thwarted by Safeguard Properties. It's not really their fault...they are just doing their jobs.

Ever heard of them? No? They are a "property preservation" company. They work on behalf of many loan servicers (like CitiMortgage, GMAC, Chase, Bank of America, Wells Fargo, etc), and they employ field reps that monitor properties in default or with past due balances. Why, you may ask? Their sole job is to make sure that the bank's "assets" (aka, properties their loans are on) are in decent condition, being properly maintained by their occupants, and that they are properly secured. If that field rep determines that a property is vacant, not secure, or not being properly maintained, those reps post notice on the house (usually on the front door or front window) requiring that the occupant or "responsible person" contact them via a toll free number immediately -- usually within 2-3 days. Occasionally the listing agent or homeowner will receive a follow-up call once this notice is posted, but not always. If nobody contacts the field rep, then many times that person, who is acting on behalf of the loan servicer, will take it upon him/herself to make sure the physical integrity of the "asset" is not compromised. What does this mean?? Usually it means they change the locks and take whatever measures they believe to be appropriate to secure the house (like board up windows, lock side gates, etc). I blogged about this a couple years ago.

I always give my short sale sellers a heads up that monitoring from a property preservation company like this is a possibility, and that they really need to make the effort to maintain their property if they are not living there, keep it secure, and monitor the house for notices of this nature.

This listing agent did not prep her seller. So, when I arrived to open this unit to install a carbon monoxide detector, the key in the MLS lockbox did not open the lock, and there was another combo lockbox on the front door. I ended up waiting around for more than an hour while the listing agent called the field services rep to get the combination to the new lockbox on the house. Once she was able to give me the combination to this new lockbox, I entered and installed the carbon monoxide detector, and I then had a look around. I noticed that none of the lights worked and the toilets were empty. I found the electrical panel and all of the breakers were in the "off position." I turned them on. I also turned on the water to the toilets and made sure they flushed properly.

Thankfully I visited the house today, BEFORE the appraiser was scheduled to come out tomorrow...most likely he would not have waited around for an hour while the listing agent obtained the combination to the new lockbox, and may have charged an additional fee to my buyer client to re-visit the house at a later date. If the appraiser had indeed waited around, then the utilities would not have been operable for his inspection, which would have also required him to make another visit to the property. Either of these scenarios would have cost my buyer money and the timeframes in the transaction may have been delayed.

So after nearly 90 minutes at the house, I put a copy of the new key in the MLS lockbox for the appraiser to use tomorrow to access the unit, made sure the utilities on and light and plumbing fixtures functioned properly, oh yeah, and I installed that carbon monoxide detector -- a potential crisis was averted...

Girls just wanna have fun?

Hmm. Someone likes to par-tay!! I couldn't help but notice this fine assortment of platform 6-inch heels in the closet of a condo I showed today in Citrus Heights. These aren't exactly my style. Not only are they not my style, but darn they look like they would be so uncomfortable. Since I am a runner, I really value comfy shoes.

Financing Sacramento Condos...it's the WILD WEST!

I have resisted the urges to write about my most recent adventure representing the buyer in the purchase of a condo until after the close of escrow...thankfully escrow finally closed on Tuesday. Tuesday was exactly 27 days after our originally scheduled 30-day close of escrow. Why? Financing issues. The good news is now the loan officer and I are basically specialists in this particular condo community -- Serenade at Regency Park at 50 Regency Park Circle in Sacramento / Natomas.

In previous posts, I have warned Sacramento condo buyers (and sellers, for that matter) that in many cases, it is EXTREMELY difficult to finance condos. In the instances of buyers seeking to use FHA or VA financing, the condo communities must be on a pre-approved list. The condos and their Homeowners Association (HOA) must meet certain criteria that is screened in advance. For conventional lending, Fannie Mae and Freddie Mac have approved lists too.

So just how do you finance a condo that is not on the FHA, VA, Fannie Mae, or Freddie Mac approved list??? That is the million dollar question!! The answer is that you must undergo the 'Exception Review' process...ARGH. This process allows the lender to ensure that the condo community meets their condo lending requirements -- for example, the HOA must have adequate insurance, there can not be a high percentage of non-owner occupied units (rental units), there can not be litigation involving the property, the HOA must have adequate cash in the bank, there can not be a high number of owners who are delinquent in payment of their HOA dues, and MANY other things.

In short, there are many condo communities that will not qualify for lending under the 'Review' process. Having said that, there are also many communities that will...but the process is so lengthy and labor intensive most loan officers are not willing to do it. Additionally, while Fannie Mae and Freddie Mac have certain requirements, individual lenders (GMAC, Wells Fargo, Chase, BofA, etc) also add their own requirements. Needless to say, the buyer and loan officer were willing to suffer through the process...the loan officer went through the process with multiple lenders, and finally found one willing to finance the condo. It literally took two months for this process. Thankfully we had a seller willing to wait out the process as well...if she had not been willing to wait for this financing, she would have had to find a cash buyer for the condo.

In the end it all worked out, but not without cooperation from all parties -- listing agent, buyer's agent (me), loan officer, buyer, seller, etc. The moral of the story, make sure everyone know what they are getting into...and if you are looking to purchase or sell a condo in Serenade at Regency Park in Natomas -- we do not have to reinvent the process if you work with me and/or the loan officer who handled this...contact me for details and I am happy to provide them.

Looking to buy a Sacramento Condo with FHA or VA Financing?

I wrote about it earlier this year, and I think it is worth mentioning again...not all Sacramento area condo communities are eligible for purchase with FHA and VA loans. I get maybe 2 or 3 inquiries per week from excited buyers who see the prices of Sacramento area condo listings in the +/- $100k range (in fact, the average condo selling price in Sacramento County for November 2010 was $102,000), however most of them are looking to make purchases with FHA or VA loans...which isn't possible with every condo community. Many condos must be purchased with conventional financing (20% downpayment) or all cash.

In order to qualify for FHA and VA loan programs, condos must meet certain criteria, and communities / entire associations must be approved by The US Department of Housing & Urban Development for FHA, or The US Department of Veterans Affairs for VA, in advance. At one point in time, there were "spot approval" processes where an individual unit could be approved on a case-by-case basis...but unfortunately those options just do not exist anymore.

So how do you find out if a condo is VA or FHA approved? There are two online tools that buyers (or sellers, for that matter) can use to look up approved condo communities. The tool to look-up approved condo communities for FHA loans is here, and the tool to look-up approved condo communities for VA loans is here. I use these tools all the time, and find them to be invaluable!