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Friday, July 3, 2015

Evolution of Cash vs. Conventional vs. FHA in the Sacramento Real Estate Market

Just thought i'd post a quick blog today about the evolution of what types of buyers have been in the market over the past 5 years.  Let's take a quick look to see what happened, where we are at today and potentially what is to come in the near future.

Here's the percentages of sales according to the type of buyer.


As you can see from the chart, Cash sales were at a high in 2012-2013.  While FHA buyers were struggling at that time to get accepted offers and hit a low in 2013.  Since then, the cash buyers have slowed down a bit and that has allowed more opportunity for the FHA buyers to purchase more homes as well as more Conventional loan products have become available in the past three years.  SO you can see how more conventional sales are going through as well.

That's a MACRO look at the Sacramento REal Estate market, as a whole.  Lets now take a MICRO look at an individual neighborhood.  Let's look at my great neighborhood of College-Glen, near the American river and Watt ave.



As you can see, there are a few similarities but not much of a mirror image there.  This shows the difference in analyzing the market from a large scale and then from a small neighborhood perspective.  Looking at the county as a whole can give you a broad perspective but it really might not be exactly what is going on in your specific neighborhood.

Bottom line, most neighborhoods in the Sacramento Area are seeing more Conventional and FHA buyers purchasing homes than Cash buyers.  The biggest reason is that since home prices have increased over the past three years, the properties are no longer as good of deals for cash investors any more.

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

clear skies,

Doug Reynolds

Realtor

916-494-8441



         

Thursday, July 2, 2015

JUST SOLD - 4049 Linus Way, Carmichael, CA 95608 - www.RealEstateWithDoug.com - Doug Reynolds Real Estate

Just SOLD!!! 6-17-2015 in Carmichael, Ca. Congrats to my great clients and close friend for selling this wonderful home and moving onto the next chapter in life.  This sale went through all the ups and downs of the real estate world but at the end of the day we were able to get it closed for a great price for my seller clients.  I was honored to represent you again on the sale of this property.  Congrats!


Beautiful Carmichael Retreat on a huge lot. This 3 bed, 2 bath, 1625 sq ft house is an entertainer's delight with an open floor plan that leads to the covered patio, sun bathing deck and expansive back yard surrounding the pool. Naturally bright interior features hardwood floors, updated baths, dual pane windows, gas fireplace, ceiling fans, & much more. Tucked away in a great neighborhood with distinguished schools, you're close to shopping, parks & transportation with easy access to downtown.



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

clear skies,

Doug Reynolds

Realtor

916-494-8441



         

Tuesday, June 30, 2015

Sacramento Real Estate Market - Tabulation Tuesday SnapShot - 6/30/2015

I'm a stats geek and love analyzing the Sacramento Real Estate market numbers, so...

Every Tuesday i provide a quick snapshot of what's going on with the market.  Call/Email/Text/or leave a comment below if you have any questions or opinions...

 



ACTIVE INVENTORY

2,847   available homes on the market
2,744   Last week
2,691   Two weeks ago
2,615   Three weeks ago
2,547   Four Weeks ago
2,541   Five Weeks ago


PENDING inventory

2,528   homes currently in escrow
2,567   Last week
2,608   Two weeks ago
2,631   Three weeks ago
2,597   Four Weeks ago
2,669   Five Weeks ago


Median Price of homes sold for the Month

June: so far this month - $295,500
May  -              $290,000
April -               $281,000
March -             $281,250
February-          $283,050
January -          $258,000
December -       $268,000
November -       $265,000
October -           $272,000
September -      $275,000
August -            $270,000



Closings for the month

June: so far this month - 1,500

May -             1,458
April -            1,607
March -          1,376
February-      1,098
January -       927
December -  1,313
November -  1,081
October -     1,375
September - 1,396
August   -     1,428



 
Connect with me via FacebookYouTube, and Follow my Blog.


clear skies,
Doug Reynolds
Realtor
916-494-8441
 

         

Thursday, June 25, 2015

Sacramento Real Estate Video Market Update June - July 2015



Doug Reynolds, a Sacramento Area Realtor, discusses the most recent market stats from Sacramento County.

Also, this month Doug talks about the "price sensitive sellers market" that is currently going on in the Sacramento area.  Most properties are selling quickly with multiple offers above list price, however those that don't show well or are a little over priced are sitting on the market with little action.  

Also, although the inventory is fairly tight we are starting to see buyers negotiate a bit more during the escrow process for the sellers to correct inspection items that involve healthy/safety issues and/or provide credits to the buyers to cover those costs after close.

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


clear skies,

Doug Reynolds

Realtor

916-494-8441



         

Wednesday, June 24, 2015

Sacramento Real Estate Market update - June 2015

Sacramento
Real Estate Update


June 2015


ó In May 2015, the median price increased slightly from $281,000 to $290,000.  The median is 5.5% higher than one year ago.
ó The available housing inventory is at 1.8 months. I expect that number to increase a bit as we approach the summer selling       season. A “normal”or “balanced market” has been redefined over the past decade & is now considered about 3 months.
ó The homes that are priced right, show well and have a high quality marketing plan are getting sold fast.  The spring market finished strong by favoring sellers with multiple offers on many properties.  However, it’s a price sensitive sellers market right now. The overpriced properties are having price reductions to try and get more attention.  This market is similar to the hot sellers market we saw in the first half of 2013.  That year, an unexpected jump in interest rates caused things to cool down.


CONNECT WITH DOUG REYNOLDS REAL ESTATE VIA FACEBOOKYOUTUBE, AND FOLLOW HIS BLOG.



CLEAR SKIES,

DOUG REYNOLDS

REALTOR

916-494-8441



         

Tuesday, June 23, 2015

Sacramento Real Estate Market - Tabulation Tuesday SnapShot - 6/23/2015

I'm a stats geek and love analyzing the Sacramento Real Estate market numbers, so...

Every Tuesday i provide a quick snapshot of what's going on with the market.  Call/Email/Text/or leave a comment below if you have any questions or opinions...





ACTIVE INVENTORY

2,744   available homes on the market
2,691   Last week
2,615   Two weeks ago
2,547   Three weeks ago
2,541   Four Weeks ago
2,551   Five Weeks ago


PENDING inventory

2,567   homes currently in escrow
2,608   Last week
2,631   Two weeks ago
2,597   Three weeks ago
2,669   Four Weeks ago
2,621   Five Weeks ago


Median Price of homes sold for the Month

June: so far this month - $295,000
May  -              $292,500
April -               $281,000
March -             $281,250
February-          $283,050
January -          $258,000
December -       $268,000
November -       $265,000
October -           $272,000
September -      $275,000
August -            $270,000



Closings for the month

June: so far this month - 1,093

May -             1,458
April -            1,607
March -          1,376
February-      1,098
January -       927
December -  1,313
November -  1,081
October -     1,375
September - 1,396
August   -     1,428




Connect with me via FacebookYouTube, and Follow my Blog.


clear skies,
Doug Reynolds
Realtor
916-494-8441
 

         

Monday, June 15, 2015

All about the Staging Process for selling a home

Many times i'm asked by sellers about the staging process or why is it important to hire a stager. "Why is it so expensive?"  "That doesn't seem worth it."  "Other homes in my neighborhood are not staged."

I don't always suggest staging for my listings.  It's really on a case by case basis.  Depends on the property, the location, the price point etc.  Below is a great article from Staged 4 More about the entire staging process.  Enjoy!

Connect with me via FacebookYouTube, and Follow my Blog.

clear skies,
Doug Reynolds
Realtor
916-494-8441
 

         


Our Process for Staging Homes

Having been in the home staging industry for almost 1o years, me & Yi Hsuen have developed a process to help us pull a house together and create the best results for our clients. Having a process in place is important. It helps to simplify our decision making and inventory selection, be more efficient with our work load and break the debate if we butt heads on styling decisions. It is an ever-revolving process and technology like 17hats also helps to keep us on track. Having a system is crucial in running any business, this is one of the best lessons I've learned working for Michael Gerber, author of E-Myth.
Today I'm giving you a peek at our process so that you might take away a couple helpful insights that make working with a home stager or staging your listing less frustrating and more efficient for you. 
Our Process for Staging Homes // Staged4more Home Staging & Design

1. LOGISTICS SUPPORT

I have to mention logistics here because our job is filled with lots of moving pieces, so having a good handle on logistics is important.
We brought on Anita last fall, whose official title is Project Coordinator. She has been a great add to me & Yi Hsuen, helping us managing logistics, scheduling and invoices. The main decision behind hiring Anita was inspired by my experience working on photo shoots.
Having an agent really freed me up from worrying about paperwork and contract negotiations and allowed me to do what I do best on set. Having gone through that experience, me and Yi Hsuen realized that we were getting bogged down by the day-to-day stuff, and we were distracted from getting the real business done -- delivering a great staged home to our clients and passion projects like developing programs about home staging (like the free Home Staging Basic Training Guide and some other cool mini courses in the next few months).
Having a workflow and templates in 17hats helped a lot. Anita, who is much better with customer service and logistics, is able to access the system easily and follows through. Because we almost tripled our volume last year, we switched to credit card payments and electronic signatures only to eliminate inefficiency and paperwork.
Having logistics support really helped us to have a smoother on boarding process with new clients, build a better client relationship.
An example of our workflow in 17hats // Staged4more Home Staging & Design


2. ON SITE VISIT & DRAFTING THE PROPOSAL

When a client calls, whether potential or repeat clients, I generally have a brief conversations with him/her to get a sense of the scope of the project. This is also a pre-screening process to see if we would be a good fit with their project.
Once the initial phone conversation has happened, Anita schedules / confirms an on site visit with the clients. On site visit is crucial because it gives us a great idea on what the neighborhood is like, who the target buyers may be and what finishes and color schemes we will use for staging.
This process can also get time-consuming on the back end, even though it may only look like the two of us had spent 15-30 minutes on site writing notes & taking photos for planning purposes. This is also why we had decided to start billing for on-site visits, because typically with bay area traffic, it takes about an hour or more to get to the site and back, not to mention we usually meet for another 15-30 minutes to discuss design plan for the property. So overall, drafting a proposal can take 2-3 hours. 

3. IN STUDIO: DESIGN & PREP

Before we prep, me and Yi Hsuen sit down together again and go through our notes & photos we took during our site visit. We would go through the photos room by room and double checking the proposal to see what we would need to pull to work with the home's existing colors, finishes and architecture details. We print out our prep list and off we go.
Much like our actual staging process, we work from big to small. We normally pick the largest pieces first, like sofa, coffee table, rug, accent chairs, etc. and work our way down. Pulling and packing accessories take the most time.
Usually, our prep process takes 4-6 hours with both of us working. I'd pull accessories, decorative items, floral and Yi Hsuen pulls lighting, artwork and writing up the locations of the big pieces that are going to get packed first. (This is why we asked clients for at least a 3-day notice before scheduling the installation date, because we need to schedule time in for prep.)

4. STAGING DAY!

Our movers arrive at 8am, but me & Yi Hsuen generally shows up at 7am to make sure we have everything ready before the job. Typically, load out takes about 1-1.5 hours, depending on the size of the job. Plus bay area traffic, we generally arrive on site between 10-11am. Once we arrive at the house, it's a flurry of activities.
Our movers have been with us for a long time now and they know roughly where we want to drop furniture. They also know that they will need to assemble the beds, furniture and move all the bins to the kitchen. Once bins are out, I start unpacking everything, so we can visually shop decor pieces and accessories to style each room. Like the way we pull, we drop the big pieces first.
Once furniture plan is set, we start making beds, steaming linens. Generally when I style, Yi Hsuen starts placing and installing artwork. Depending whichever of us finishes earlier than the other, we  start packing up for the day.
Before we leave, we do an once over, to make sure every corner is covered and we are happy with the overall staging. More importantly, the home looks ready to photograph.

5. MARKETING

I'll be the first to admit that we are usually not as diligent as we should be on this. :/ But I normally try to whip out some sort of blog posts or at least instagram about it (at some point.). Social media is fairly important nowadays, since we actually see an increase in web traffic and sometimes even lead to other projects when we share our work.

6. WRAP & PACK

Our Home Staging Process // Staged4more Home Staging & Design
Once the home is sold, contingencies are removed (until contingencies are removed, your home sale is not yet a done deal. The deal can still fall apart.), Anita schedules a date for de-staging. We will go to the house at 7-7:30am and start packing. Movers show up at 8 to move everything out. Generally depends on the size of the project, on site removal can take 2-3 hours and in studio, another 1-2 hours. After movers leave, we unpack the bins and restock everything.
All in all, from initial contact, prep, on site staging to de-staging, pack and wrap, a home staging project can take about 75-85 man hours on average to complete.

I probably shared too many details here, but I've learned being transparent about our process has helped our clients understand how we work. Staging the home right can be a time consuming process. One that has a lot of invisible pieces that are unseen and therefore undermined by our clients.
It is a lot of hard work. To have a fully stock 5800+ square feet prop house takes time to cultivate and develop. We also have to constantly be on our toes with trends and new inventory by frequently visiting vendors and furniture shows. But all is well worth it when we can pull something awesome together for our clients.
There you have it! That's our staging process in a nutshell!