Informational Videos

Loading...

Wednesday, August 27, 2014

5 tips for Sacramento First Time Home Buyers


So you think it's time to stop renting and start looking for a home to buy??  It's fun to scroll through home listings online and dream about all the things you want in a home BUT in order to be realistic about buying a Sacramento area home, you've got to put first things first:

1.) Find a great Realtor that you trust - typically most people ask their friends and family for a referral or they research online.  However you do it, pick someone to sit down with and go over your wants, needs, timeframe, current situation, schedule and goals.  A good agent will listen to everything and then make sure they will be able to be a good fit with you.  Everyone has different schedules so it's important to make sure that agent will be available to show you homes when you will have time (during the day?? evenings?? weekends??).  Also, if you are wanting a home in a certain area and that agent lives (and their office) is way far away, that probably is not the best fit.  Once you've found a Realtor that you like, trust and it's a good fit you need to...

2) Talk with the "Bank."  Typically the Realtor you are going to have help you find a home will have a lender that they know and trust with their clients.  That is usually the best way to go.  A Realtor that has been in the business for a long time will know a great lender that can do an excellent job for their clients and they already know how to work well with that lender.  So get their contact info and get preapproved up front.  There is no point in moving onto the next steps without getting your preapproval done and out of the way.  From there you will know your budget/costs and max purchase price amount so that you can begin the official home search.


3) Trust your Realtor more than the internet.  It's good to do research online and look into things but you chose your agent for a reason.  There is so much real estate miss information out there it is crazy.  One of the reasons you picked your Realtor is because you trust them.  So i you have a question or concern, bring it up, talk through it and then trust their information.

4) Factor in the Future:  It's hard to know what the future holds but it's important to at least factor it in.  Are you planning on having kids soon?  Will you need to move in a few years due to job or family??  Will you be getting a second car that also needs to fit in the garage??  Can you afford replacing items such as HVAC/roof/windows or do they need to be newer at the time of purchase??  If you take a little bit of time to think 5 or 10 years into the future and make sure those needs will be met then you will end up with a better home for yourself.


5) Know what you want: The current Sacramento area market is a mixture of homes that show well and are priced right - selling quickly.  Others that are over priced and not in great shape are sitting.  So make sure you know what it is you want and what you are ok with not having.  If you know that a 4th bedroom and large backyard is a must but you are ok with a dated kitchen then it will make it easier for you to make a quick decision.  The Sacramento real estate market moves fast because of all the internet access of information for buyers to listings.  So it's important to really know what you want and then when it comes up, go after it aggressively with confidence.


Bonus Tip: Did you know that A buyer does not pay their agent/Realtor for helping them find the house and represent them??  In Sacramento, it's traditional that the sellers pay the commission. Many first time buyers are usually surprised to find out they don't have to pay me to represent them in the purchase of their house. A very nice perk when you are saving all of your money to scrape together enough for the down-payment and closing costs.


Connect with Doug Reynolds Real Estate via FacebookYouTube, and Follow his Blog.


clear skies,

Doug Reynolds

Realtor

916-494-8441



         

Friday, August 15, 2014

Sacramento Real Estate video Market Update August - September 2014



Doug Reynolds, a Sacramento Area Realtor, discusses the latest market stats for Sacramento.  This month talking about how the market is now balanced and the most "normal" in over 10 years.  A good thing for both buyers and sellers.


Connect with Doug Reynolds Real Estate via FacebookYouTube, and Follow his Blog.


clear skies,

Doug Reynolds

Realtor

916-494-8441



         

Saturday, August 9, 2014

Sacramento Real Estate Market update - August 2014

Sacramento
Real Estate Update


August 2014


ó In July 2014, the median price increased from $270,000 to $272,000.  The median is 7.9% higher than one year ago.
ó The available housing inventory is 2.2 months.  I expect to see that number slowly increase as we continue through the second half of the year.  A “normal” or “balanced market” is around 4 months.
ó The homes that are priced right, show well and have a high quality marketing plan are still getting sold fairly quick.  However, the properties that are over priced are sitting with little activity until the list price is in line with the true market value.  The overpriced properties are having price reductions to try and get more attention.  The current market is the most “normal/balanced” market we have seen in the Sacramento area in over 10 years.
ó High Demand and Low Supply/Inventory had driven the market prices up in 2013.  The market is finally at a balance and seller’s power of the past 2 years is now equal with the buyers.



Connect with Doug Reynolds Real Estate via FacebookYouTube, and Follow his Blog.


clear skies,

Doug Reynolds

Realtor

916-494-8441



         

Wednesday, July 23, 2014

Sacramento Real Estate Prediction - 2nd half of 2014



Doug’s Crystal Ball
(AKA - Educated Guess):

I am asked almost daily by both buyers and sellers on where this market is headed.  And while I don’t have a crystal ball, I can still provide my opinion/guess.  There is an interesting dynamic to the market right now.  The homes that are priced right/show well/marketed great are getting sold in a short period of time with a lot of buyer activity.  On the other end, the houses that miss one of those aspects are sitting and having little/no activity until the prices are reduced to get more attention.  Bottom line, the buyers have become more picky because the inventory has increased and the amount of investors/cash offers has slowed down. History shows that Sacramento has always been a very cyclical real estate market, most of the sales happen in the spring/summer and taper offer in the fall. 

SO, Here’s my personal opinion: If you’re considering selling your house in the next few months, I would suggest getting it on now before the buying season continues to slow down.  IF you’re a buyer out there: figure out exactly what you are looking for and get preapproved with an excellent lender.  Look over the properties that have been sitting on the market with your agent, if something catches your eye see if you can negotiate the price down.  And lastly, be ready to jump all over the perfect property that comes on the market any day now because those are still selling fast, at or above list price. 
By the end of the year, i see the inventory increased to probably around 4 months (we are currently at 2.2 months), the median will probably decline a little bit from the $270k we are at and i think buyer's will have a little more power in the transaction compared to the last few years.  I think these will all be subtle shifts but noticeable.

Only time will tell if I’m right but that is what I’m currently seeing in the market….



Connect with Doug Reynolds Real Estate via FacebookYouTube, and Follow his Blog.


clear skies,

Doug Reynolds

Realtor

916-494-8441



         

Wednesday, July 16, 2014

Sacramento Real Estate Video Market Update July - August 2014



Doug Reynolds, a Sacramento Area Realtor, discusses the latest statistics and what's going on with the market as the summer market progresses.

This month Doug discusses the drop in the median price and the increase in inventory.  The market appears to be bouncing around at a balance right now.  Things are very "Price Sensitive."  Either homes are selling right away or sitting for a very long time in the Sacramento Real Estate Market right now.

Connect with Doug Reynolds Real Estate via FacebookYouTube, and Follow his Blog.


clear skies,

Doug Reynolds

Realtor

916-494-8441



         

Monday, July 14, 2014

Sacramento Real Estate Market update - July 2014

Sacramento
Real Estate Update


July  2014


 ó In June 2014, the median price decreased from $275,000 to $270,000.  The median is still 9.8% higher than one year ago.
ó The available housing inventory is 2.2 months.  I expect to see that number slowly increase as we continue through the year.  A “normal” or “balanced market” is around 4 months.
ó The homes that are priced right, show well and have a high quality marketing plan are still getting sold quickly.  However, the properties that are over priced are sitting with little activity until the list price is in line with the true market value.  The overpriced properties are having price reductions to try and get more attention.  The current market is approaching the most “normal/balanced” market we have seen in the Sacramento area in over 10 years.
ó High Demand and Low Supply/Inventory had driven the market prices up in 2013.  The market is finally at a balance and seller’s power of the past 2 years is now equal with the buyers.


Connect with Doug Reynolds Real Estate via FacebookYouTube, and Follow his Blog.


clear skies,

Doug Reynolds

Realtor

916-494-8441



         



Friday, July 11, 2014

College-Glen Real Estate VIDEO update Q2 2014



The market picked up for the second quarter as the spring/summer season is in full swing.  There were 28 sales in the second quarter, up from the previous quarter(21) and same as one year ago(28). The average sales price($282,759) is up considerably from last quarter($262,123) and from one year ago($257,805).  Average Days on the market(18) decreased significantly as spring/summer market heated up.

The supply/inventory and demand is more in balance as more homes have come on the market.  However, the summer selling season is still going strong in College-Glen.  A few recent homes have gone into escrow in a short period of time, some with multiple offers.  For the homes that are priced right and show well, the sellers are having good success. The overpriced listings are sitting on the market without a buyer. I expect the third quarter to look very similar to the second quarter.

 College-Glen Real Estate - Doug Reynolds