Aspiring to be a homeowner in Sacramento? Here are 6 things to start doing to prepare...

Lately I have been chatting with several folks who are thinking about taking the plunge into homeownership -- some sooner than later -- and for many of them it is a little overwhelming as far as what to do to get started. I help buyers of all shapes and sizes, price ranges, and experience levels, and what I recognize is that whether this is your first time or your 5th time, many of the steps are the same or they significantly overlap! What is another day at the office for me is a life-changing event for you. So here are some things to think about as you contemplate your future home purchase.

(1) Check your credit score. Lenders use your FICO score to determine your mortgage interest rate...higher FICO scores lead to better interest rates, which can save you tens of thousands of dollars over the life of your mortgage. I cannot emphasize how important it is check your credit. For one, sometimes credit reports have errors, and they take a little time and effort to correct. NOTHING is more frustrating than finding a home you want to buy, and then trying to qualify for a mortgage only to discover some issue on your credit report that you could have proactively resolved -- sometimes this will cost you getting the house you love, or you will have to spend more to purchase it. Second, there are ways to improve your FICO score like paying down credit card balances, avoiding opening new lines of credit, having a solid history of on-time payments, etc. Pro tip: my bank offers free credit score monitoring, which I personally take full advantage of...I would highly recommend this as well. According to the Federal Trade Commission, federal law gives you the right to get a free copy of your credit report every 12 months from each of the three credit bureaus. In addition, the three bureaus have permanently extended a program that lets you check your credit report from each once a week for free at AnnualCreditReport.com. If you do not want to order your credit report online, they offer two other alternatives: call 1-877-322-8228, or complete the Annual Credit Report Request Form and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. You can always ask a mortgage lender to run your credit as well for a fee.

(2) Where is your downpayment coming from? Often people assume you need 20% down to purchase a home, however that is not true. Many mortgage loan programs only require 3% - 5% down, or even 0% for qualified buyers like veterans who qualify for VA home loan financing. Most people who call me do not realize that they may already have enough in savings to qualify for a mortgage. Or, your downpayment may not already be in hand, and could be coming from the future sale of another property, or often my clients will receive downpayment "gift" funds from a family member -- and you probably need less of a gift than you think. In California, downpayment assistance help is available through a variety of state and local programs. Keep in mind that funding for these programs ebbs and flows. Here are a few available in our area to those who qualify (usually based on things like income, family size, and where the home is located):

• California Housing Finance Agency (CalHFA) Downpayment Assistance Programs – Offers several different types of conventional and FHA loans, and a couple forms of downpayment and closing cost assistance programs. 
• City of Citrus Heights Downpayment Assistance – Offers a low interest loan of up to $40,000 with no monthly payments (a "silent second" loan) for purchase of a home in Citrus Heights.
• City of Elk Grove Homebuyer Assistance Program – Offers a silent second, deferred-payment loans to first-time homebuyers meeting certain income and eligibility requirements
• Golden State Finance Authority (GSFA) Golden Opportunities Program – Helps low-to-moderate income homebuyers in California purchase a home with little-to-no money out of pocket by providing down payment and/or closing cost assistance (DPA) with an FHA, VA or USDA Mortgage Loan. You do not need to be a first time buyer.

(3) Talk to a Lender...please do this before you start sign up for online listing notifications and stalking open houses! Before falling in love with a listing, you really need to know what you can afford. A mortgage lender will help you...they will run your credit (and hopefully you followed step 1 and already have a sense of what your FICO score is and have worked to optimize it). The lender will take a look at your income, assets for a downpayment (or from step 2, downpayment assistance, proceeds from a future sale, gift funds, etc). They will run through different financing scenarios with you to help you understand what you can afford versus what you want to spend -- these are often very different! Perhaps the lender can qualify you for a $750,000 purchase but your comfort level with your monthly payment really lands at a $600,000 purchase. These are very important distinctions to make. ALSO, be sure you are taking all of the factors of the monthly payment into consideration. If your lender is not providing you clarity on the loan principal and interest, property taxes, homeowners insurance, and (if applicable) mortgage insurance then you are talking to the wrong person. Also while you may see lots of online ads for lenders, I would strongly recommend working with someone who is local, and who can sit with you and explain things. I can refer you to some great ones.

(4) What neighborhoods are you interested in? Location. Location. Location! The old adage in real estate is true. You can change a lot about a home's condition but you can't change the location. What vibe best suits you? Whether you want to live near the action of downtown or midtown Sacramento, or in a suburb like Elk Grove or Carmichael, or a charming vintage neighborhood like Land Park or East Sac, take time to do a little research. Common themes I tend to discuss with my clients are:

• School boundaries, and school district boundaries. I have resources to help you research school ratings, and everyone seems to value different things or programs in different schools. Got a particular school in mind where you really want to enroll the kiddos...? You should CALL THE DISTRICT and ensure that the school does not have an impacted enrollment and that your kiddos can actually go there. It can be a rude awakening buying a home down the street from the school where you want your kids to attend only to find out that the school does not have room, and the kiddos get enrolled elsewhere.
• Public amenities like parks, trails, community centers, etc. Sacramento has lots of wonderful recreation opportunities...some folks MUST be near an aquatic center. Or near the river. Or near William Land Park. Or in a secluded area. Being near those amenities may come with trade-offs -- like a higher price. Like traffic. Like noise. Like higher homeowners insurance costs. Like a long commute. Again, explore the areas and make sure living near those amenities (rather than visiting) actually makes sense.
• Safety. I often get asked if "fill-in-the-blank" is a good neighborhood?...well, for one my definition and your definition may differ, and I must emphasize that while realtors can give you certain insight and resources, we legally and ethically CANNOT “steer” buyers to or away from specific neighborhoods for any reason. That’s why doing your own research and visiting areas that interest you is so important. I have resources for clients who want to research crime rates. And drive by the area at different times of the day to get a sense for what the activity level and type is. 
• Demographics. Remember what I just said above? If demographics are important, the US Census has some great info for your perusal. 

(5) What type of property is best for you? Buying a single-family home isn’t your only option. Condos and PUDs can sometimes be more affordable and lower maintenance. Think realistically about your lifestyle, budget, and long-term goals. My first place was a condo before I moved on to a single family home. Each type of property comes with trade-offs: 

• Condos: When you buy a condo, you essentially own the interior of your unit, but not the land or exterior structure. Common areas like landscaping, pools, and roofs are typically managed by a homeowners association (HOA), and you'll pay monthly dues to cover maintaining those. Dues are subject to increase, and HOAs have rules that not everyone enjoys (like to limit the number or size of pets, or to govern the types of decoration you can put in your windows, for example). Not every HOA is the same -- some have deferred maintenance that can lead to sharp dues increases if the HOA governing board is not carefully planning for future expenses.
• Townhomes/Planned Unit Developments (PUDs): these may have many similarities to condos with shared walls and HOAs, however with a townhome/PUD you typically own the structure (interior and exterior walls) and the land it sits on (including the front and backyard, if any). Again, the governing boards of the HOA may be more proactive or reactive when it comes to maintenance.
• Single family homes: these offer more privacy and land space, fewer rules (though single family homes can be in HOAs too) but usually require more upkeep and maintenance as the expenses are not shared with other property owners.
• Side note: if you are interested in HOAs or have questions, I wrote my masters thesis about HOAs and would be happy to nerd out with you. 

(6) Did I mention talk to a REALTOR? Aspiring home buyers tend to reach out to me at different times during their exploration of purchasing a home...I come into the fray often as the first call -- and if that is the case I will help you navigate these steps in whatever order makes sense. Sometimes I am contacted as the last step as someone really wants to dive into their home search. All good either way. I am ready when you are. We will talk through what it means to enter into a Buyer Representation Agreement (the scope of the agreement, timeframe, compensation terms, geographic areas covered, type of property, my fiduciary duty to you) for professional representation, and how I advocate on your behalf, etc.

If you’re thinking about buying your first or 20th home in the Sacramento area, I’d be honored to help and welcome your call to see if we are a fit to work together.

New Listing - 6041 13th Street, Sacramento, CA 95822

Loved by one family for many decades, this 3 bedroom 3 bathroom South Land Park Hills home is ready for a new owner. This is the perfect blank canvas for your personal touches. You will love the spacious, light and bright layout with a freshly painted interior and refinished wood floors. Enter into the foyer. A formal living room overlooks the backyard. Spacious kitchen opens to the family room and has a large breakfast counter. The family room features a cozy fireplace and built-in shelving. Enviable inside laundry/utility room features extra storage and an adjacent full bathroom! The primary suite has abundant light, dual closets, and an ensuite bathroom and a stall shower. Down the hallway two more bedrooms. Hallway bathroom has a tub/shower. Large covered patio space is the perfect place to enjoy coffee and conversation, or for al fresco dining while entertaining guests on a crisp evening. Big backyard with lots of sunny space to garden or play. Attached 2-car garage. Central heat & air. All this is located in close proximity to award-winning k-12 schools, public transit, parks, the Del Rio Trail, shopping, restaurants, freeway access, and more! The possibilities are endless! Don't wait! Offered at $575,000. For more photos and a 3D virtual tour, please visit 6041 13th Street, Sacramento, CA 95822.

New Listing - 4621 Mead Avenue, Sacramento, CA 95822

Lovingly maintained by the same family for nearly 6 decades, this impeccable 3 bedroom, 1 bathroom, approximately 1,122sf South Land Park Estates home is the perfect blank canvas for your personal touch! Enter to find a spacious living room and cozy fireplace. The original wood floors gleam throughout. Through the dining room, you will find an adorable kitchen with a wall oven, separate cooktop, and lots of counter and storage space. Large hallway bedrooms, and a hallway bathroom with a separate tub and shower. Through the backdoor, you will find an large patio and backyard with lots of sunny space to garden or play! And the possibilities are endless with an attached separate unit with approximately 536sf more space, with an additional 2 bedrooms and 1 bathroom -- an amazing feature for a home office, extra storage, or to host extra guests or family. All this with a composition roof, central HVAC, newer water heater, and 2-car garage. And location, location, location just a quick hop skip and a jump from William Land Park, the Zoo, restaurants, shopping, award-winning K-12 schools, and more. Don't wait! Offered at $525,000. For more photos, information, and a 3D tour, please visit 4621 Mead Avenue, Sacramento, CA 95822.

I have added the NAR GREEN designation to my credentials...

I am happy to have added the National Association of REALTORS “GREEN” designation to my credentials — this one will help me provide resources to clients to improve the performance of their homes— from low-cost fixes and DIY projects, to retrofitting and replacing systems, to big budget remodeling projects, etc.

Do you have a home for these buyers?

Do you have a home for any of these buyers? As 2023 begins, and I have lots of buyers in the market to purchase a home, 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 buyer looking for a home that sounds like theirs. It seems to be a common belief right now that with changed real estate market dynamics that nobody is buying -- but that is just FALSE. There are MANY motivated buyers out there, and while listing inventory is above where it has been throughout the pandemic, inventory is still relatively low.

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 erin@erinstumpf.com. 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, Arden/Arcade - this buyer is looking for a minimum of 3 bedrooms, 2 bathrooms, and a minimum of about 1200sf. They would prefer a home that is updated and are not in the market for a fixdr. They'd love a larger-ish yard (like .18ac or above) and a pool would be a bonus. They are well-qualified for a conventional loan up to about $650,000.

Buyer B: Rosemont, College Greens, Rancho Cordova - this buyer is looking for a single level 4 bedroom, 2 bathroom home under 2,000sf. Specifically they want an updated kitchen that opens to the living space. They do not want any interior stairs/steps and specifically do not want a swimming pool. They are well-qualified for a conventional loan up to about $550,000.

Buyer C: Land Park, Hollywood Park, East Sacramento, Med Center, Tahoe Park, Woodlake, South Land Park - this buyer is looking for a 3 bedroom, ideally at least 2 bathrooms. They would also love something updated and turn key. They are well-qualified for a conventional loan up to about $600,000.

Buyer D: Carmichael, Arden/Arcade, Fair Oaks, Citrus Heights - this buyer is specifically looking for a turn-key single-level small home, half-plex, or a condo, and it must have at least 1.5 or preferrably 2 bathrooms, an enclosed private garage space. They are well-qualified for a conventional loan up to about $350,000 (or less if a condo with HOA dues).

Buyer E: Midtown, Downtown, East Sacramento - this buyer is looking for a 2+ bedroom, 1+ bathroom home on the grid that is within a short distance to the state Capitol, restaurants, shops, etc.  They are well-qualified for a conventional loan up to about $550,000.

Buyer F: Oak Park, Tahoe Park, Rosemont, College Greens - this buyer is looking for a 3 bedroom, 2 bathroom home that is not a fixer. Would love an open-floorplan if possible, and an above average sized yard (like .12ac+). They are well-qualified for a conventional loan up to $450,000.

Buyer G: Arden/Arcade, Carmichael - this buyer is looking for a 3 bedroom, 2 bathroom single story home of a maximum of 1800sf. They would prefer something turn-key and would love an open floorplan. They do not want to be on or adjacent to a busy street and would prefer to be within a short walk (less than a half mile) of a dog park. They are well-qualified for a conventional loan up to $750,000.

Buyer H: Swallows Nest in Natomas: Needs to be turn-key, single level. Likely an all-cash purchase up to around $500,000.

Buyer I: Folsom: this buyer is looking for a turn-key minimum 3 bedroom, 2 bathroom home 1,400sf+, in a neighborhood within one of the following elementary school boundaries -- Gallardo, Empire Oaks, Oak Chan, or Gold Ridge. Ideally this home will be updated, and located in a neighborhood with mature trees. They are well-qualified for a VA loan up to $700,000.

Again if any of these sound like you or someone you know, please drop me a line!

Do you have a home for any of these buyers?

Do you have a home for any of these buyers? As 2021 comes to its exciting conclusion, and our Sacramento real estate market at basically record-low inventory (still), 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 erin@erinstumpf.com. 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, Arden/Arcade - this buyer is looking for a minimum of 3 bedrooms, 2 bathrooms, and about 1200sf. They do not mind something that needs a little updating and are not scared by a fixer property. They'd love a smallish, low-maintenance lot (like .15ac or less, ideally). They are well-qualified for a conventional loan up to about $450,000. 

Buyer B: Carmichael, Arden/Arcade, Fair Oaks - 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 $750,000. 

Buyer C: Land Park, Hollywood Park, East Sacramento, Med Center, Tahoe Park - this buyer is looking for a 2 bedroom, ideally at least 1.5 bathrooms (2 full preferred). They do not mind something that needs a little updating, but would also love something updated and turn key. They are well-qualified for a conventional loan up to about $700,000. 

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. Their budget is around $675,000. 

Buyer E: Sacramento neighborhoods south of 50, east of Hwy 99 as far south as Florin Road - this buyer is looking for a 3 bedroom, 2 bathroom single family home (not a halfplex). Ideally not a fixer. They are well-qualified for a conventional loan up to about $400,000.

Buyer F: 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 G: Midtown, Downtown, East Sacramento - this buyer is looking for a 4+ bedroom, 2+ bathroom, 2,400sf+ 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. Electric vehicle charger is a plus. They are well-qualified for a conventional loan up to about $1.3M. 

Buyer H: Oak Park, Tahoe Park, Rosemont, College Greens - this buyer is looking for a 3 bedroom, 2 bathroom home that is not a fixer. Would love an open-floorplan if possible, and an above average sized yard (like .12ac+). They are well-qualified for a conventional loan up to $450,000.

Buyer I: Arden/Arcade, Carmichael - this buyer is looking for a 3 bedroom, 2 bathroom home of a minimum of 1600sf. They would prefer something turn-key and would love an open floorplan. They do not want to be on or adjacent to a busy street. They are well-qualified for a conventional loan up to $700,000.

Buyer J: Rocklin, Roseville - this buyer is looking for a turn-key/modern or renovated minimum of 3 bedroom, 2 bathroom, and 1800sf or larger home single story gated community. Must have a formal entryway and an open floorplan. 55+ active adult community would be a plus. A beautiful view would also be a plus. Cash buyer, budget is up to about $1.2M.

Buyer K: Arden/Arcade, Carmichael - this buyer is looking for a small studio or one bedroom condo. Must have indoor laundry in the unit. Ideally ground level entrance and single level unit. Needs to be turn-key. They are well-qualified for a conventional loan up to $200,000.

Again if any of these sound like you or someone you know, please drop me a line!

February 2021 - Sacramento pandemic housing market statistics, inventory, home prices, etc...

Spoiler alert: if you are thinking about selling your Sacramento area home, the market is very much in the seller's favor at this moment. 

We are now nearly one year into the COVID-19 pandemic. Wow, where did the time go?? It seems like yesterday and way too long ago that things were "normal"...but what is our new normal looking like a year in?

Just how is the Sacramento real estate market doing a year into the pandemic? I answer this question for my clients every day. In short: the Sacramento market has been heated, prices have climbed significantly, and inventory of homes for sale is so low that many homes are getting 10+ offers because buyers descend on listings like locusts. 

The really low 3%-ish interest rates, people highly valuing different uses of space, and newly discovered mobility and ability to work from home from any location has lead to high home buyer demand in Sacramento. Couple that high demand with the fact that many would-be sellers have hunkered down during the pandemic and not listed their homes, this combination has lead to increased prices. 

You can see in the graph that there's literally HALF the number of listings on the market today as there were a year ago, right before the pandemic started. The graph 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, November, December, January and February there were MORE homes that went into contract (dark green bar) or sales that closed (red lines) than the number of homes available. The fact this dynamic has persisted for so long is shocking.

The effect on price has been significant. From February 2020 to February 2021, according to Trendgraphix, the median home price in Sacramento County has increased 16.1%, from $398,000 in February 2020 to $462,000 as of the end of February 2021. 

Multiple offers abound, homes selling for more than listing price, prices increasing. 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 November 2020 and the housing market trajectory in Sacramento has remained the same.

As we approach the spring, usually we see a lot of new listings hit the market. I do think we will see more listings come onto the market, but there is a persistent buyer demand that I believe will gobble up the new supply of resale homes that hit the market. I personally have several would-be seller clients who were ready to list their homes before COVID-19 hit who are watching closely to see if Sacramento County moves to a more favorable tier, if vaccines are more widely deployed before they re-evaluate if they feel safe to have showings and people in their homes. And I also have a growing list of clients who would love to sell, however they have not been able to find another home to purchase, and hence these clients have not listed their homes for sale.

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. 

What I can say is -- if you are thinking about selling your Sacramento area home, the market is very much in the seller's favor at this moment. It may be an opportune time to take advantage of the seller's market right now. If I can help, I welcome your call or email to see if we are a fit to work together.

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 erin@erinstumpf.com. 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.

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. 

Listing, AND SAFELY SHOWING, property during the Coronavirus pandemic....

Last week, the Sacramento County Public Health Director modified the our local directive to allow the showing of occupied property. Many of my seller clients rejoiced! And then, after that initial "yay, I can finally sell my house!" excitement, literally all of them had the same realization: "Oh, now I actually have to have a parade of other people in my home."

After having to "Stay at Home" in Sacramento County for nearly 7 weeks, and having limited contact with other people outside of the household, for many sellers this is a scary proposition.

So I have been having the same conversation over and over again lately -- how do I safely show my home? And I thought it might be helpful to post how my seller clients and I are approaching listing and safely (as possible) showing homes.

Given our unique public health circumstances, it is probably pretty important not to let just anyone who wants to see your house inside for a showing. In consultation with my sellers, I came up with a few different types showing options for them to consider.

Again, this is something every Sacramento home seller must contemplate and implement per their own comfort level. As agents we can make no guarantees that these strategies will prevent the risk of getting sick, but sellers may wish to take as many precautions as they believe are necessary.

I listed an occupied property late last week and the method we used to control showings seemed to work pretty well. Most importantly, we limited the flow of people through the property to only serious buyers, AND we didn't impede our ability to show and get offers on it. Basically we required buyers and their agents to jump through some hoops before a showing appointment was granted.

First, the buyers were directed to thoroughly review all marketing photos, 3D tours, inspection reports, and disclosures available in MLS in advance. Then if they had significant interest in the property they had to sign a document called a PEAD (Coronavirus Property Entry Advisory and Declaration) where they swear that they have not been exposed to Coronavirus, have not had symptoms, etc and that they will follow best practices for viewing another property (wear personal protective gear, not touch anything, etc).

Second, they had to prove they were either pre-approved or had enough cash to purchase the home for at least the listing price.

Third, they had to sign and submit all showing instructions documents 24 hours in advance of scheduling a showing.

This seemed to do a pretty good job of vetting the looky-loos and we ended up with serious buyers only. A sample of the showing instructions is pictured above.

I drafted three alternate "showing instructions" scenarios for them to consider. These are of varying rigidity and can be modified based on a seller's comfort level.

Option A is what this most recent seller opted to do. It seemed to work well and seemed to successfully screen the looky-loos out while offering a little flexibility to buyers and agents to request showing days/times.

Option B is a bit more rigid -- I replaced the bullet points with spots for buyers to initial (which should ideally convey certain concepts more strongly). I added a section where the buyers/agent can indicate which showing day/time(s) they prefer, where in Option A we allow the buyers/agents to request times. I also added a requirement that the buyers are not making an offer contingent on the sale of another property -- which you may or may not wish to limit, as that will eliminate some showings/buyers.

Option C is very rigid and requires that the buyer actually makes an offer (relying on the virtual tour, photos, and reports) in order to schedule a showing...it also provides fewer appointment time options to see the home.

Of course all of these can be adapted for specific situations.

The California Association of Realtors published some COVID19 Best Practices that you may find useful as well.

While Option A is pictured in this post, if you would like the verbiage from Options B and C, I am happy to share via email. Shoot me a request at erin@erinstumpf.com. And of course if you are thinking about selling your Sacramento home, I am happy to discuss this and welcome your call to see if we are a good fit to work together.

Adapting to virtual meetings as I work from home...

I do miss meeting clients in person. But for now, with the current Sacramento County "Stay-at-Home" directive from the department of public health, my clients and I are adapting to using things like Zoom to have group meetings, or FaceTime to virtually meet one-on-one.

I'm not gonna lie -- physical distancing is a pain. But I can't think of anything that is more important than my health or my client's health.

This is normally the busiest time of the year in Sacramento real estate, and the current COVID19 situation may be keeping people at home, but my clients and I are still in close communication.

For example, one of my sellers has been packing and putting her belongings away. Typically I would pop by to chat with my client and see the progress, but in this case we did a little tour of her home via FaceTime. She was able to show me all of the work she's done to prepare her home for sale.

Many buyers and sellers are highly motivated to buy or sell despite the health directives. I have buyers who are relying heavily on virtual tours and inspection reports to contemplate purchasing decisions. I also have sellers that will likely be listing their properties for various reasons in the near future, hoping to find buyers who feel comfortable making offers before they can personally view the properties. Luckily, using 3D tours, video, or other virtual technology to market my listings is not a new concept to me, so it was not anything I had to figure out with my hair on fire. I have been doing that for many years.

I am hopeful that this current situation is relatively short and we can ease back into some limited in-person meetings soon...of course from 6 feet apart and with hand sanitizer in tow.

Sacramento City Council approves a temporary moratorium on tenant evictions relating to hardships caused by COVID-19

Our local elected leaders, responding to calls from tenant advocates to provide relief to renters experiencing hardship related to our current public health situation, enacted an ordinance aimed at preventing renter displacement.

Last night, the Sacramento City Council approved a temporary moratorium on tenant evictions relating specifically to COVID-19. Keep in mind, this applies to all residential rental units within the city limits of the City of Sacramento.

Details of the new ordinance:

• Effective Immediately, but not retroactively applied if tenant was already delinquent in rent
• Moratorium applies to evictions due to nonpayment of rent due to COVID-19
• Tenant was sick or caring for COVID-19 family member 
• Tenant experience layoff or other income reduction associated with COVID-19 
• Tenant’s compliance with a recommendation from a government agency to stay home, self-quarantine, or avoid congregating 
• Tenant needed to miss work to care for a home-bound school-aged child 
• Tenant must do all of the following: 
• Notify landlord in writing before rent is due that the tenant has a valid reason for delayed payment 
• Provide verifiable documentation of a covered reason 
• Pay the portion of rent the tenant is able to pay 
• Tenant has 120 days after the termination of the Sacramento County public health emergency order to pay landlord all unpaid rent. 
• Landlord and Tenant may voluntarily agree to an alternate timeline for payment of rent due in arrears. 

Here is a link to a Delay in Payment Notification Form provided by the City of Sacramento.

The County of Sacramento has not taken similar action as of now, nor have the other cities within Sacramento County.

Pro Tip: use inexpensive lights and light timers to keep a vacant property secure

Occasionally I will list a vacant property, and my sellers will be jittery about the home's security during the time it is on the market. One quick and easy way to make a vacant home seem occupied is to install lights and on timers so that lights go on and off all night long. This gives the appearance that there is activity inside the house, and can be a strong deterrent for would-be troublemakers. These lights in the photos were about $7 and the timer devices were about $5 at a hardware store. A good investment!

Check Before You Burn in Sacramento -- from November to February!

Check Before You Burn: it's that time of year again...my husband and I love to have fires in our backyard fire pit this time of year. And as per usual between November and February, in Sacramento, I had to check the Sacramento Metropolitan Air Quality Management District website - luckily it was ok to burn the evening we wanted to roast marshmallows.

Sacramento County residents and businesses are restricted -- or potentially prohibited -- from using indoor or outdoor fireplaces, wood stoves, firepits and chimineas that burn wood, pellets, manufactured logs or any other solid fuel, when the "fine particle pollution" is forecast to be elevated. And if you burn on a "no burn day" there are penalties. If you see someone burning a fire on a day where burning is restricted, you can file a complaint here. First time violators face a $50 fine or an option to complete and pass a wood smoke awareness course. Fines for subsequent violations are higher. Or if a fireplace is your home's only heat source, you can apply for a waiver. That waiver document is here.

Call 1-877-NOBURN-5 (1-877-662-8765) to get the daily burn status, check online, or you can subscribe to a daily "Air Alert" as I have, where the air forecast is emailed to you.

Number One Agent in my Coldwell Banker Sierra Oaks office September 2019...

September was a pretty busy month. So busy that I was the number one producer for my Coldwell Banker office in September. I have been the top individual producer several times (and was the #1 individual producer in my office for all 2018), but notably this month I beat out all the TEAMS, which is quite an accomplishment. Teams can have many people (in my office, some have up to 6-7 agents) contributing to the production of the group. I closed a total of 6 transactions for a total of $2.77M. (Believe it or not, this is not my single highest producing month ever...last year in July 2018, I closed 10 transactions for a total of $4.86M - and with that I was the top individual, though a large team beat me for total production. Oh well! LOL)

Planning to sell a home that one of my buyers may like?

It's mid-February in Sacramento. And, like our seasonal real estate cycles typically predict, it is that wonderful time of the year when home buyers really get motivated to buy, and sellers start to prep their homes for sale...the perfect storm when buyers are ready to go, but there is not quite yet an abundance of housing inventory on the market for buyers to choose from. Which brings me to today's post...do you have a home that you would like to sell that my buyers would like to buy? I am working with some really well-qualified (pre-approved!), amazing people...

Buyer A
Seeking a home in the Arden / Arcade, Carmichael, or Fair Oaks areas. In a perfect world, the property would have 3 bedrooms, 2 bathrooms, 1600sf or larger, a built-in pool, AND an Accessory Dwelling Unit for a multi-generational situation. An ADU is also commonly referred to as a "granny flat", "in-law unit", or "studio". A home with room to add an ADU may also work, or they are also willing to retrofit some existing space to create an ADU. They are pre-approved up to $500,000.

Buyer B
Seeking a home in the Tahoe Park, Tallac Village, Hollywood Park, or surrounding areas. Ideally the property would be a 2 bedroom, 1 bathroom home of 900sf or larger, be pretty turn-key and not need a lot of work, but this buyer would happily do some minor repairs, replace flooring and paint if need be. This buyer is pre-approved up to $335,000.

Buyer C
Seeking a home in the East Sacramento, Land Park, or Midtown Sacramento areas. They would prefer something with architectural character that is walkable. They are down-sizing and a 2 bedroom, 1 bathroom home of 1200sf+ would be great. A second bathroom would be a bonus. Ideally the home has an open layout where the kitchen is open to the living area. A garage is a must, and they'd also love a basement too but that is not required. They are pre-approved up to $600,000.

Buyer D
Seeking a home in the South Land Park, Pocket / Greenhaven, or Little Pocket areas. They would love a 4 bedroom home, but are also fine with a 3 bedroom, 2 bathroom home of at least 1200sf. A half-plex would also be ok too. The house must have a decent-sized yard for their soon-to-be adopted dog. They are pre-approved up to $350,000.

Buyer E
Seeking a newer home (2014 or newer, but not new construction) in Roseville or Rocklin areas at least 4 bedrooms, 2.5 bathrooms, and 2000sf+, and with a good-sized yard (aka, larger than just a patio). They are doing a tax-deferred 1031 Exchange and are all cash buyers. By the rules of their exchange, they need to spend a minimum of $500,000 and a max of $550,000.

So anyway, if you own a home something like what I have described here and are thinking about selling it, drop me a line at erin@erinstumpf.com or 916-342-1372! My buyers would love to hear about it. And if it is not a great fit for one of them, I can help you prep your home for sale and list your home as well.

2018 - review of my real estate transaction statistics and how I compare to Sacramento market averages...

I ended last year with a bang, and had a busy start to 2018. I can't believe the year is over already! And what a year it was...it was one of my busiest years ever in my 13+ years in Sacramento real estate and did so while finishing my master's degree.

I like to track the statistics of my transactions, and toward the year end I always reflect on what I have done, how I compare to the rest of the agents in the market, and how I can improve. So as a follow up to my similar post last year, I thought I would publish some statistics and my thoughts on the coming year. Keep in mind, I am not a part of a "team" and this is all my own production. This year, all of my transactions are in Metrolist MLS, so this information is easily verifiable (although one sale was erroneously attributed to me that is not included in here)...in 2018:

-I closed 36 transactions and closed $14,473,000 in volume. My lowest transaction was $190,000, and my highest transaction was $749,900. The average was $402,028 and the median was $376,050.
-41.67% of my transactions were past/repeat clients (which is amazing to me!) 58.33% were new clients.
-94.4% of my transactions were residential properties (condos, single family homes), 5.6% were multi-family properties (duplexes, triplexes, fourplexes), and 0 were other (commercial, land).
-58.3% of my transactions I represented the seller, while 41.61% of my transactions I represented the buyer.
-My typical residential listing sold for an average of 100.56% of its original listing price (meaning, 0.56% over the original listing price) in just 17 cumulative days on the market. The distinction of original and cumulative is important...original means even after a price reduction from the initial listing price, and cumulative means even if a property is re-listed or comes back on the market.
-My typical multi-family listing sold for an average of 108.7% of its original listing price (8.7% over the listing price) in just 2 cumulative days on the market.
-My typical listing had an average of 4.14 buyer offers on it! (For further disclosure though, one listing really skewed this statistic and had 23 offers on it alone...removing that one, then it becomes an average of 3.2 buyer offers)

Comparing my production statistics to the overall Sacramento real estate market averages, my clients and I had another stellar year.

For one, to qualify for the Sacramento Association of Realtors Masters Club, a realtor must close $5M in transaction volume and a minimum of 8 closed transactions. Clearly I blew those numbers out of the water. I would guess that with 36 closed transactions and nearly $14.5M in volume I am likely in the top 1-2% of all agents in greater Sacramento.

My clients are all over the spectrum from first-time buyers, move-up buyers (those who sell their home and then purchase another home), investors, sellers of property they inherited via a trust or probate, sellers retiring and moving out of the area, sellers divorcing, etc. My average and median transactions at $402,028 and $376,050 are basically in line with the average and median home prices in the Sacramento region according to Trendgraphix data. My high and low range indicates I work with a broad economic client spectrum as well, from those working with downpayment assistance to those among top-income earners in the region. I closed just one short sale listing in 2018, and I also did list one foreclosure/bank repo. Distressed properties are a very small part of the marketplace right now though 5 or so years ago they were the bulk of my transactions.

My listing statistics are also excellent...according to Trendgraphix for Sacramento County, the lowest average days on market for a single family listing in the last 14 months was 23 days on market (with a high of 41 days on market), versus my listings at 17 cumulative days on market. My original listing price versus final selling price ratio is also outstanding as my listings sell for 100.56% above original listing price on average, versus the highest month of the last 14 months at 100% (lowest at 96%). I think these numbers are indicative of my strategic approach to listing property -- complete with pre-listing inspections, staging, repairs, professional photography, 3D virtual tours, TV ads, and multi-faceted marketing.

Comparing 2017 to 2018, the market went from crazy nuts to a little more balanced between buyer and seller. This, as far as I am concerned, is a welcome change and brings a slightly more equitable transaction between buyer and seller. Sellers need to price according to the market, and buyers won't have to offer their first born to actually have their offers accepted.

 It is a good thing for buyers not to be faced with such intense competition from other buyers -- though don't get me wrong: properly marketed, appropriately priced, good homes still sell with plenty of competition and offers.

Of course I hope to improve these numbers this year in 2019...so we shall see how that shapes up! If you think we would be a good fit to work together toward your next property sale or purchase, I welcome your contact via phone or email.