Sold on Sacramento

Archive for October, 2008

Imagine Selling in Todays Real Estate Market and Winning Big !

You would be crazy to sell in today’s market if you are financially stable and have great credit……Right?? Well that really depends. If you are waiting for the Sacramento market to “Come Back” before you sell and buy up into that dream house. Today could be the best time ever for you to make your move into that new home.

The buyers market that we have today certainly effects the price you will sell your home for. If you sell today you will not sell for that prime 2005 price, you will have to carefully price your home at today’s competitive prices. However you will also be buying at today’s competitive prices. This is great news for the buyer of properties in sought after developments and luxury homes. We have seen the upper end properties hit hardest buy the change in market. The best news is that their are far fewer qualified buyers for these homes. By percentage homes in the $500,000 to $900,000 have taken hits down into the $325,000 to $625,000 range. By percentage you lost significantly less property Read the rest of this entry »

Disclaimer! Real Estate Investors Want Sacramento

Today’s investors are looking hard at where they should put their nest egg. With the market shift. Turmoil on the USA stock market and abroad. Many investors are looking close at residential income properties. In many areas here in Sacramento investment properties can be picked up today that produce break even or positive cash flow based on how much capital is invested.

Why do investors want Sacramento? California Real Estate has always been a good investment. You don’t have to be a world class real estate mogul to see our potential here. Today with the number of REO properties in the marketplace I believe that our property values are actually under inflated. Much in the same way values were over inflated in mid 2005 by lending money to anyone with a pulse creating a false demand. Today values are under inflated by the number of bank owned properties flooding the market with inventory. Investors are gobbling up the best of these properties. Do not let the mass media convince you the everyone is at home crying over spilled milk. Our market is moving, recent MLS stats show that more properties are being sold and the number of REO’s are going down. Their are investors from all over the USA and Canada grabbing these properties.

It is easier than most people think to own residential income properties. By choosing a star Real Estate Professional who is knowledgeable about analyzing a property for profit. Who can make recommendation’s about the local area and what properties are more likely to appreciate when the market turns around you too can hold investment properties and profit.

Short Sales the Looong…… and the Short of it

I have had many clients lately that are curious why there are so many short sales with 90, 150, or even 250 days on market. The quick answer is simple there is nothing short about a short sale. However the real story is not so simple.

 

Short Sales explained. A homeowner faces financial uncertainty, hardship, or the dreaded adjustable rate mortgage. They take a proactive approach and contact a real estate professional for help. At this point they go over all of the likely options and determine that a short sale is best for this client. Now the process begins where the realtor works on behalf of the client to negotiate with the bank to approve the short sale. But the bank has specific requirements namely they want a valid offer first. Really the current homeowner is now a third party whose only interest is getting out of a bad situation with out foreclosure. The bank has an amount that they are willing or not so willing to write off. A bank representative handles the file along with hundreds of others. Now offers for the house start coming in, one of them might even be yours!  They are then submitted to the bank representative .The one with hundreds of file on their desk, and several hundred offer like yours. Are you getting the picture? The bank representative will then make a decision at their convince on the offer they will choose to accept or not.

 

I do not want to discourage anyone. In today’s unpredictable economic cycle short sales present an option for people who are having a difficult time. The also present and opportunity for the patient buyer. Unlike most bank owned or REO (Real Estate Owned) homes they are move in ready and likely to meet FHA financing guidelines.

 

With the right attitude and an agent that is knowledgeable about the short sale process you can find help in preventing foreclosure.