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Tuesday, September 16, 2014

Sacramento Real Estate Market update - September 2014

Sacramento
Real Estate Update


September  2014


ó In August 2014, the median price decreased from $272,000 to $270,000.  The median is 6.3% higher than one year ago.
ó The available housing inventory has been slowly increasing each month and is up to 2.4 months.  I expect to see that number slowly   increase more as we continue through the fall/winter.  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 due to the increased inventory of homes for sale.




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


clear skies,

Doug Reynolds

Realtor

916-494-8441



         

Thursday, September 4, 2014

Just Listed For Sale - 8393 Friar Tuck Way, Fair Oaks Ca 95628

For Sale:
8393 Friar Tuck Way
Fair Oaks, Ca 95628

4 beds, 2.5 baths, 2268 square feet.  Beautifully Remodeled and Energy Efficient!!!

Gorgeous Fair Oaks charmer with an open and bright floor plan.  This wonderful 4 bed, 2.5 bath corner lot home is an entertainers dream all year long. Spacious living area of 2,268 square feet includes separate family/living rooms, formal dining room, chef’s kitchen, breakfast nook, dining bar, wrap around porch and back patio deck.  Private, master suite features window seat, open bathroom with dual sinks and vast walk-in closet. Beautifully remodeled throughout plus over $50k in top of the line energy efficiency upgrades installed 2013: all new dual-zone heating/air condition with new ducts, tons of insulation, low-e dual pane windows, high efficiency water heater, LED lighting, water saving sprinklers, ceiling fans. New roof in 2012. Downstairs bedroom, 2 car garage, cul-de-sac location, lush landscaping with mature shade trees and plenty of storage space.  Great neighborhood near shops, restaurants and parks.  Award winning San Juan school district.

VIRTUAL TOUR SLIDE SHOW







For Additional information:
www.BuyWithDoug.com
Doug Reynolds, Realtor
916.494.8441
doug.reynolds@bhghome.com

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