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Friday, April 26, 2013

Sacramento Home Owners are finally seeing equity in this crazy 2013 sellers market

As i've been bloging about and also posting videos about lately, many home owners in the Sacramento area finally have some equity.  Due to the low inventory and the extreme sellers market in the Sacramento Area, many homeowners are starting to put their house on the market since they now have equity for the first time in many years.  here's an article talking about how this is now going on in markets across the country.  Do you know how much equity you have now?? call or email me if you'd like to find out.

real estate warming - Doug Reynolds Real Estate - www.SellWIthDoug.com - Sacramento, Ca

Fannie Economists Project 1.8M Borrowers Could Regain Equity in 2013


The broadening housing recovery has firmed up home prices around the country, with the potential to restore many underwater mortgages to a position of positive equity, according to Fannie Mae’s Economic and Strategic Research (ESR) group.
Citing data from CoreLogic, Orawin Velz, Fannie Mae’s director of economic and strategic research, notes that 1.7 million properties moved from negative to positive equity last year. Provided the home price gains seen so far this year continue, Velz anticipates another 1.8 million properties will rise out of their underwater positions by the end of 2013.
In a new commentary piece entitled “Down But Not Out: Many Underwater Borrowers Will Likely Regain Buoyancy This Year,” Velz examines the extent to which home price appreciation can lift underwater properties into positive equity positions and the anticipated recovery time for transitioning the nation’s housing markets toward “normal” activity.
“The first annual rise in home prices on a national basis in six years has contributed to a positive feedback loop for the housing market by helping many underwater homeowners … regain their positive equity positions,” Velz said. “This improving trend should help spur mobility and housing turnover….The broader economy also should benefit.”
Main measures of home prices showed continued robust gains through the first part of 2013, thanks to an improving labor market, low mortgage rates, and very lean inventory—which Velz contends has been the principal driver of price gains so far.
She says rising home prices should help some homeowners who have involuntarily remained on the sidelines to put their homes on the market. According to CoreLogic’s data, the number of underwater residential properties peaked in the fourth quarter of 2011 at 12.1 million and declined in each quarter of 2012, with 10.4 million properties remaining in negative equity by year-end.
About 3.7 percent of those—or 1.8 million—were in a slightly negative position, which Velz defined as those with loan-to-value (LTV) ratios of 100 to less than 105 percent. She says these properties may switch to positive equity positions this year assuming home prices continue their upward trend. Based on CoreLogic’s latest negative equity report, the share of properties with a slightly negative equity position varied across the country, ranging from 1.3 percent in North Dakota to 5.4 percent in Georgia.
Velz concludes that all but about 10 percent of properties currently underwater will be back in positive territory within three and a half years. Most analysts expect home prices to trend up this year. Zillow polled more than 100 economists, housing analysts, and other industry experts in March. The consensus for median appreciation in 2013 was 4.8 percent, with only two respondents out of 117 indicating a decline.
Applying the Zillow survey’s consensus expectation for home prices—a cumulative gain of 17.5 percent between 2013 and 2016—and assuming continued amortization, Velz says most of the underwater properties at the end of 2012 would likely regain their positive equity positions by 2016—all except the most severely underwater, meaning those with LTVs of 120 percent or higher.
Underwater properties remain concentrated in a few states with those in the worst five states—Nevada, Florida, Arizona, Georgia, and Michigan—accounting for nearly a third of total underwater properties, according to CoreLogic’s assessment. Velz stresses the speed of the transition of underwater loans to positive equity positions is expected to vary regionally.
Nevada and Arizona are among the states with the highest share of negative equity properties, yet these states witnessed very robust home price gains over the past year, Velz points out. On the other hand, Michigan’s negative equity share is the lowest among the five worst states, but its home price appreciation has been the most modest.
Fannie Mae’s economic and research director also noted strong home price appreciation bodes well for California, which was consistently among the five worst underwater states until the second quarter of 2011. Since then, California has moved out of the worst five states, as its home prices troughed in the first quarter of 2011—much sooner than trends have demonstrated in other severely underwater states and much earlier than national prices, which didn’t witness a trough until 2012.
According to Velz, that rate at which underwater borrowers are elevated above the break-even surface will depend on the severity of their underwater conditions—or their LTV ratios—and the pace of home price gains in specific markets.

clear skies,
Doug Reynolds

Thursday, April 25, 2013

Should I Sell my Sacramento Home in this 2013 Crazy Sellers Market???

Doug Reynolds, a Sacramento area Realtor, discusses the options of selling your home in the Crazy Sacramento Sellers market that is 2013.  He talks about the 3 types of most common sellers: move up seller, lateral seller and downsizing seller.  Watch Doug for reasons why you may want to either consider selling now or wait for a while before putting the house on the market....
Call or Email Doug if you'd like to discuss with him if it's best to sell or hold on right now based on your situation.

clear skies,
Doug Reynolds

Wednesday, April 24, 2013

Home Improvement tips and ideas for this Spring

Spring Home Improvements: Repair, Replace, Enjoy!

Curb appeal
APRIL 2013 | BY BARBARA Ballinger

Besides cleaning closets and planting flowers and cool-weather vegetables, spring should involve scrutinizing the condition of a house following the rough winter. Repairs and replacements won’t just help owners enjoy their properties more; they’ll also keep energy costs down as hot weather rolls in and attract more buyers, many of whom have become meticulous about inspecting roofs, appliances, and HVAC bills.
While most home owners need to prioritize costs, these 10 improvements are at the top of many contractors’ lists. Some of them are even more affordable than ever before, thanks to rebates from local communities, utility companies, and the federal government.

1. Replace windows

If home owners’ houses felt drafty this past winter and they have single-pane windows, there’s a good chance those were one of the culprits. But replacing them all can be costly — $400 to $500 per window, plus $100 to $150 for installation, according to home improvement expert Tom Kraeutler of The Money Pit. Whether that’s the place to spend dollars should depend on how long home owners plan to stay put or what houses listed in their neighborhood offer if they’re selling. “If they’re the last ones with old, rotting-wood windows, that negative may affect buyer attention,” Kraeutler says. This year’s “Cost vs. Value” report from Remodeling magazine pegs the payback for vinyl windows at 71.2 percent and for wood windows at a similar 73.3 percent. A less costly alternative can be to add storms, caulk, weather strip, or rim joists in a basement. Contractor Paul Eric Morse of Morse Constructions Inc. in Somerville, Mass., suggests gradually replacing windows in any room that owners remodel to make the cost less prohibitive.

2. Install a new heating system and change filters

If a seller’s furnace and boiler were on their last legs this past winter, it may be time to install a new one, or at least provide sellers with a credit toward new equipment. Any choice should carry an EnergyStar label for best results. Existing systems still in good condition should have filters checked monthly and replaced when dark and clogged, a DIY project. For great energy efficiency, Morse is installing more heat exchanges that provide both heat and air conditioning and can be less costly than a new central air system with new ducting and a new furnace.

3. Clean air conditioning units

Before summer temperatures rise and HVAC pros are swamped, advise home owners to clean coils and change filters so their system doesn’t have to work as hard. They should also have drain lines cleaned, so moisture is eliminated, says Douglas Tompkins, with Pro-Air Heating and Cooling in Newburgh, N.Y. If they haven’t had air conditioning, now’s the time to weigh choices of a central system, heat exchange, or room units.

4. Install more insulation

A home’s first line of defense to stop cold or hot air — depending on the season — should be the attic, according to most contractors. An energy audit can determine how much more is needed, if they already have some. Seattle-based contractor Ron Rice, of Your House Matters, suggests adding more than the minimum 8 inches required by most local codes — up to 16 inches. For cold climates, installing electric or hydronic radiant heat under bathroom and kitchen floors will provide comfort next season.

5. Switch out inefficient appliances

Sometimes appliances are no longer smart to repair. The determining factors for that should be their age and the cost of repair versus replacement. Here, too, top choices carry an EnergyStar label. If home owners need to replace most of their kitchen equipment and have a limited budget or plan to move, Rice suggests they prioritize and first switch out the range, followed by the refrigerator, dishwasher, and microwave — in that order.

6. Repair or replace roofs, gutters, and downspouts

Because of the tough hurricane season last fall and the winter blizzards, roofing contractors in many parts of the country have been busy. Morse recommends that those needing new roofs consider architectural asphalt shingles because of their long warranties (often 50 years), affordable prices, and attractive appearances that work with many house styles. In addition, many contractors have the equipment and experience to install roofs of this material, as opposed to metal. He also recommends that home owners have gutters and downspouts cleaned come spring so that water can flow through them; gutters should be angled away from a house to stop water pooling around a foundation and seeping into the basement. Gutter covers can be helpful but often don’t eliminate all debris.

7. Paint

Damage often shows up at this time of year, especially in climates where there’s been a lot of snow melting or winter rains, Morse says. Use the time to reassess your color choice for better curb appeal. Even changing the front door’s color can make a difference.

8. Prune trees

Cutting limbs that may have been damaged during winter and that might fall on a roof or allow squirrels to enter a house is smart, and it can be a cost savings later on. Called “thinning out,” this method gets excess foliage trimmed to allow more natural light into a house—and cut down on artificial illumination, says Sacramento, Calif.-based landscape designer Michael Glassman. “It opens the tree so you don’t have dead spots in the interior and lets the tree take advantage of air flow rather than chop off the top,” he says. A certified arborist will know the best ways to do this without removing too much of a canopy, which is useful for privacy and shade.

9. Mulch plantings

Along with fall, spring is a key mulch time. Mulch helps plants thrive by holding back weeds, retaining moisture so soil doesn’t dry out, and adding a tidy look, Glassman says. Use bark, shredded fir, leaves, straw, or grass clippings.

10. Replace lightbulbs

When it comes to artificial light, most contractors recommend switching burned-out bulbs to LEDs, which last longer than incandescents, consume less energy, and have come down in price — now often just $10. Quality has improved, too, and they’re dimmable and available in colors.
One more thing: Before you hire anybody to take on work, get a written estimate. Better to be safe than sorry.

clear skies,
Doug Reynolds

Thursday, April 18, 2013

College Glen Real Estate update Q1 2013 - Doug Reynolds Real Estate - www.CollegeGlenRealEstate.com - College Greens / Glenbrook

Doug Reynolds shares the latest neighborhood real estate statistics for College Greens / Glenbrook.  An analysis of the 2013 First Quarter sales of single family homes shows the average sales price has increased from last quarter and last year.  The average days on the market has also decreased as well.  Right now there is a shortage of homes in the College-Glen neighborhood compared to the current amount of buyer demand.  Doug is a Realtor who lives and works in College Greens/Glenbrook.

More neighborhood real estate info can be found at: www.CollegeGlenRealEstate.com

clear skies,
Doug Reynolds

Tuesday, April 16, 2013

Sacramento Real Estate April - May 2013 video Market Update - www.SellWithDoug.com Doug Reynolds Real Estate

Doug Reynolds, a Sacramento Area Realtor, provides the latest market statistics for March 2013. The median price increased again. This time to $218,750. The Sacramento Real Estate market has increased 31.9% since this same time last year. Doug also discusses the "move-up" market that Sacramento is now experiences.  Many owners finally have some equity and are selling their smaller homes so they can buy a bigger/better property to meet their needs.  Connect with Doug Reynolds on Facebook, YouTube and Blogger. Feel free to call or email him any time if you are a seller or buyer in the Sacramento Area. He can provide you with a free market analysis of your property if you are curious of your homes current value.

clear skies,
Doug Reynolds

Monday, April 15, 2013

College Greens / Glenbrook Real Estate Sales Q1, 2013 - www.CollegeGlenRealEstate.com

Now that the First Quarter of 2013 is finished, here’s a look back at Q1 and comparing it to last quarter and a year ago.  This is only for College Greens and Glenbrook single family homes.  As you can see the low supply and high demand has been driving the prices up in our neighborhood while each home is spending less time on the market.  I expect Q2 prices to continue with this trend as we are heading into the spring and summer months.  Our neighborhood has experienced a   significant jump up in values over the past year and it’s currently being driven by supply and demand.  Of the last 5 homes I’ve sold in the area, all of them had multiple offers.  The homes that are priced rightshow well and have a high quality marketing plan are receiving multiple offers, above list price within a few days. Usually 4 to 8 offers on a single property.
 College Greens Glenbrook Real Estate Sales Quarter 1 2013 - www.CollegeGlenRealEstate.com - Doug Reynolds Real Estate - Realtor

If you would simply like to know what your house is now worth in this crazy Seller’s Market, Call or email me. I can easily provide you with a FREE market analysis of your home so you can know its current value. You might be surprised what your house could sell for while this seller’s market is going on.

clear skies,
Doug Reynolds

Thursday, April 11, 2013

Sacramento Real Estate Market update - April 2013

ó In March 2013, the median price increased to $218,750.  That is 31.9% higher than one year ago!!!
ó 36.4%  of the purchases in the month were ALL CASH.  First Time Home Buyers are having a tough time competing with    investors in the lower price ranges of $250,000 and below.
ó The available housing inventory is only 0.8 months.  A “normal” or “balanced market” is between 4 to 5 months.  Sacramento is  currently in an extreme Sellers market.
ó The homes that are priced rightshow well and have a high quality marketing plan are receiving multiple offers, above list price within a few days. Usually 5 to 10 offers on a single property.
ó High Demand and Low Supply/Inventory should continue to drive the market prices up as we continue through 2013, most likely at a little slower pace than we saw in 2012.  2012 was a market correction to homes getting under valued in 2011 and buyers reacting to the fact that “the bottom was yesterday.”  This seller’s market should continue through the spring and summer.  After that, it will be interesting to see how the market reacts heading into the winter.
 Sacramento Real Estate Market March 2013 - www.SellWithDoug.com - Doug Reynolds Real Estate

Sellers are quickly finding out: 
ó They have the upper hand right now
ó Multiple offers on most properties with them selling above list price
ó Buyers are even willing to bring extra cash to complete the sale if their appraisal comes in low
ó Sellers have equity for the first time in many years
ó Finally able to “move-up” into a bigger and better home before interest rates and prices go up more

If you would simply like to know what your house is now worth in this crazy Seller’s Market, Call or email me. I can easily provide you with a FREE market analysis of your home so you can know its current value. You might be surprised what your house could sell for while this seller’s market is going on.

clear skies,
Doug Reynolds

Tuesday, April 9, 2013

Where is Real Estate headed???

I get asked by many people as to where real estate is headed.  Ultimately, no one turly knows but i recently came across this prediction by Fannie Mae.  Typically, i tend to disagree with their predictions but this one seems to a pretty good guess in my opinion.  One of the hardest things is Real Estate is a local issue and difficult to predict in a tiny market let alone a whole nation.  Here's the article.  What does your crystal ball say??

Big Predictions for Housing for Next 2 Years

Home sales are projected to post some big gains in the next two years, according to Fannie Mae’s latest monthly economic outlook. 
Fannie Mae economists predict that existing-home sales will rise by 10.5 percent this year, and by 6.2 percent in 2014. The economists made even bolder projections for new single-family home sales -- growing 15.1 percent this year and 44.1 percent in 2014.
"We expect home prices to firm further amid a durable housing recovery, continuing to boost household net worth, gradually diminishing the population of underwater borrowers, and reducing incentive for strategic defaults," according to Fannie Mae’s report.
Fannie Mae projects that mortgage rates will stay low by historical averages this year, but the 30-year fixed-rate mortgage will rise from an average of 3.5 percent during the first quarter to an average of 4 percent during the final three months of 2013. During the fourth quarter of 2014, mortgage rates are projected to tick up to a 4.5 percent average. 
Mortgage applications for purchases are projected to increase by 16.8 percent this year and by 17.1 percent in 2014. However, a decline in applications for refinancings will likely cause mortgage originations to be down 14.5 percent this year and by 31.4 percent in 2014, Fannie economists predict. 
Source: “Fannie Mae sees housing upturn as 'intact',” Inman News (March 28, 2013)
clear skies,
Doug Reynolds

Monday, April 8, 2013

HUGE Investment company continues to buy Sacramento Homes at a record pace

Here's a recent article from the SacBee talking about Blackstone.  Since August 2012, the investment company has purchased over 1,200 homes in the Sacramento area, spending over $200 million in cash purcahses.  The company is attempting to purchase 20,000 properties across the country in select markets.  Sacramento is one of those markets thaty have targeted.  Have you had any experiences with Blackstone yet?  What's your impression?  I have sold two of my listings to them in the past few months.  Do you have any fears of one investor owning so many properties in one area?
 Cash buyer investment company buying up Sacramento homes - Doug Reynolds Real Estate - www.SellWithDoug

Critics question investment fund's Sacramento rental venture


Published: Monday, Apr. 8, 2013 - 12:00 am | Page 1A
Last Modified: Monday, Apr. 8, 2013 - 8:01 am
Blackstone wants to reassure America that bigger isn't bad.
The giant New York investment fund – with its global portfolio of shopping malls, the Weather Channel and Motel 6 – owns nearly 10 times as many rental homes in Sacramento as any other private landlord, along with thousands of other homes across the nation.
It insists that size doesn't mean it is aloof. The company says it's on a mission to fix up neglected houses and improve neighborhoods, and to provide tenants with first-rate service.
"We care. We're engaged. We want (tenants) to have a good experience," said Marcus Ridgway, chief operating officer of Blackstone's housing unit, Invitation Homes.
Dozens of Sacramento-area contractors are busy fixing up houses to Blackstone's specifications. Tenants and neighbors interviewed by The Bee gave the company high marks.
Critics, however, worry about how the investment fund will wring from rental housing the high profits that investors, including the California State Teachers' Retirement System, expect from risky ventures.
The types of profits generally promised on such investments "are completely out of whack with what a reasonable landlord can expect," said Dean Preston, executive director of Tenants Together, a statewide organization for renters' rights based in San Francisco.
"Whenever we see Wall Street investing in a big way in the rental market, it's premised on displacement of tenants or extreme increases in rent."
Blackstone arrived in Sacramento in August and began sweeping up properties through an entity it named THR California. It wasn't long before local investors started grousing about the Wall Street behemoth outbidding them in foreclosure auctions on the courthouse steps, one of several methods Blackstone uses to acquire homes.
The firm went on a buying spree in the past eight months, acquiring more than 1,200 houses across the Sacramento region for an estimated $200 million.
Almost 90 percent, or 1,075, of those homes are in Sacramento County, in communities such as Elk Grove, South Natomas, Rancho Cordova, south Sacramento, Antelope and Citrus Heights.Blackstone also has purchased about 100 homes in Placer County, 50 homes in Yolo County and a handful of homes in El Dorado County.
The firm has paid a rough average of $164,000 per house.
The buy-up was part of Blackstone's nationwide push to acquire 20,000 homes for more than $3 billion while prices remained low after the 2007 housing crash.
Blackstone and other large investment funds saw an opportunity to profit from the foreclosure crisis in a business traditionally dominated by small-time investors.

Paint and carpet

Critics raised concerns and said the firm couldn't possibly fix up so many homes in a timely manner.

And officials said they worried about the management of the homes and whether streets once occupied by homeowners would turn into problem blocks dominated by renters.
Tenant advocates, meanwhile, expressed skepticism about whether a massive investment fund based in New York would be vigilant about fixing faucets in Sacramento.
Blackstone – through Invitation Homes – has since been on a quest to prove the critics wrong and to establish a national brand with a sterling reputation.
To that end, it quickly set up sizable ground operations in Sacramento and other distressed real estate markets where it invested, including Southern California, Arizona and Florida.
Invitation Homes runs its Sacramento operation from a nondescript building in suburban Roseville. Its reach extends north to Yuba County, south to San Joaquin County, and west to Solano and Contra Costa counties.
Regional president Tommy Christy is a veteran real estate investor with detailed knowledge of area markets.
Dozens of contractors and subcontractors have been fixing up houses at a rapid clip, using a standardized set of upgrades that speed the work.
Inside, each house gets fresh coats of Behr paint in tan and off-white. Crews replace existing carpet with a speckled Mohawk pattern called Toast. Many homes receive new Frigidaire stainless steel appliances.
Roofs are replaced, front yards replanted. The company says it spends up to one-tenth of the purchase price of each home on upgrades, putting, for example, approximately $20,000 into a 1,500-square-foot house in Rocklin that it bought last month for $225,000. The cost included $14,000 for a new roof.
Invitation officials say they are able to use higher grades of paint, carpet and appliances because they buy in such vast quantities.

A 'big improvement'

Neighbors have noticed the difference.

On one street in South Natomas, Tom Haupert stood in front of his own well-kept home and pointed to several houses up and down the block that Invitation had renovated.
One house still had the company's sky-blue for-rent sign in the front yard.
Haupert said the homes had been neglected by prior landlords. Invitation had reroofed them, painted the exteriors, installed new garage doors, and put new sod and sprinklers in the front yards.
The tenants had improved, too, Haupert said. One house had been like a "motel" with regularly changing residents, he said. The new neighbors were nice and polite, and signed a two-year lease.
"Big improvement in the neighborhood," Haupert said.
To manage its single-family properties, Invitation partnered with Riverstone Residential Group, the nation's largest manager of apartment complexes. The companies share a headquarters in Dallas.
Bringing in experienced managers ensured competent customer service from the start, executives said.
Invitation Homes executives said most of the houses it purchased were initially vacant, but some had tenants. If a house was in good condition and the tenants were paying market-rate rent, they were allowed to stay. Other tenants were evicted or given "cash for keys" to leave.
At this point, the firm said, about 30 percent of the houses in its Sacramento-area portfolio are still being fixed up. Most of the others are leased. A Bee analysis of neighborhoods determined that the rents Invitation is charging are about average.
Tenants contacted by the Bee said property managers were responsive and that serious complaints were quickly addressed.
"Fantastic," Darci Sanderson said of her experience with Invitation Homes after a short time in her South Natomas rental. "These guys aren't always in your face, but they take care of things as needed."
When her three dogs dug through the decaying wood of the back porch, contractors replaced the boards and resealed the deck to prevent further decay, she said.
Making a good first impression on tenants and neighbors is part of a carefully planned strategy by Blackstone to build a business and a brand from the ground up, Ridgway said.
"We have a task of making sure the first impression is the right one so we set the standard," he said.

Concerns remain

The positive reports haven't assuaged some critics.

Preston, at Tenants Together, said he wasn't surprised that a multibillion-dollar investment fund could hire competent property managers and fix toilets. What should concern people, he said, is the immense size and market power of Blackstone and its drive to turn big profits.
Preston noted the case of billionaire real estate investor Gensiro Kawamoto, who in February 2002 ordered most of his 569 tenants in Sacramento, Placer and Sonoma counties out of their homes in 30 days so he could sell the properties. Today, the state requires that tenants get as much as 60 days' notice.
Melody Simpson, who runs the pro-tenant website watchthisproperty.com, said she shares Preston's concerns.
A former employee at a major bank, she said she worries that tenants may be the last to know when Blackstone and other large investors decide to sell their houses.
"What's going to happen to tenants when those hedge funds plan their exit strategy?" she said.
The question of evictions or rent increases is of real concern, Preston argued. Investors in Wall Street real estate funds expect a higher return on untested investment strategies, such as the mass purchase of rental homes.
CalSTRS, for instance, has committed $100 million to the $13 billion fund that Blackstone used to buy its rental homes.
CalSTRS spokesman Ricardo Duran said the retirement system's investment policies call for a 15 percent annual return on such an investment. That's more than twice as much as the public pension fund would expect from a safer real estate investment, he said.
"It's a pretty good rate of return," Duran said. "That's because it's a riskier bet."
Preston questioned how an investment in single-family rental homes – traditionally a low-margin, high-maintenance business – could yield 15 percent annual returns without harming tenants.
"How do they achieve those without massive rent increases or evicting people and changing the use of the properties?" he asked.
Invitation Homes executives insist the company has no planned end game and no intention of following Kawamoto's example. Selling the houses once prices appreciate is only one of the possibilities, they said. If that happens, sales would be structured to minimize the impact, they said.
Another possibility involves selling stock in Invitation Homes.
For now, said Ridgway, the focus is on building the brand.
"I think we are on a very positive path to be a market leader in single-family homes," he said.
The hedge fund group Blackstone, operating in the Sacramento area as THR California and Invitation Homes, has spent approximately $200 million buying nearly 1,200 homes here. Three homes recently bought by Blackstone in Sacramento's South Natomas neighborhood:
1678 BRIDGE- CREEK DRIVE, a 1,492-square-foot, three-bedroom, 2 1/2- bath home was purchased Oct. 12 for $152,500 – 34 percent under its $232,500 sale price in 2004. It was listed online in February as a rental for $1,300.
2955 RED HAWK WAY, a 1,642-square-foot, four-bedroom, two-bath home, sold at auction Oct. 15 for $155,100, about 30 percent higher than its $119,500 price in 1995.
1786 URBANA WAY, a 1,443-square-foot, three-bedroom, two-bath home, was acquired at an Aug. 23 auction for $130,100, more than 63 percent less than its 2005 sale price of $353,000. It is renting for $1,300 a month.
Source: Zillow, Redfin, Truila, Invitation Homes, Oodle.com, Bee research

Read more here: http://www.sacbee.com/2013/04/08/5323832/critics-question-investment-funds.html#storylink=cpy
clear skies,
Doug Reynolds

Saturday, April 6, 2013

Arden Park and Arden Oaks - Sales Data for March 2013

There were 17 homes sold in Arden Park and Arden Oaks in March, 2013.  That is a increase from the 13 sold in the month of February, 2013.  Here are the addresses and specific information:

Currently there are: 25 Active listings, 0 Active short sale listings, 4 Short Sales waiting for lender approval and 10 Pending Sales

If you would like more information (pictures, listing history, what type of sales they were, etc.) feel free to call or email and I’d be happy to provide that for you.  Call or email me if you are looking to buy or sell in the Arden Park or Arden Oaks area.

clear skies,
Doug Reynolds

Elmhurst and Tahoe Park Sales Data - March 2013 (Sacramento, Ca)

There were 13 homes sold in Elmhurst and Tahoe Park in the month of March, 2013.  That is a the same from the 13 homes sold in the area in the month of February, 2013.  Here are the addresses and specific information.

Currently there are:12 Active listings, 2 Active short sale listings, 13 Short Sales waiting for lender approval and 16 Pending Sales

If you would like more information (pictures, listing history, what type of sales they were, etc.) feel free to call or email and I’d be happy to provide that for you.  Call or email me if you are looking to buy or sell in the Tahoe Park / Elmhurst area.
clear skies,
Doug Reynolds

Land Park and Curtis Park Sales Data - March 2013 (Sacramento, Ca)

There were 19 homes sold in Land Park and Curtis Park in the month of March, 2013 .  That is a decrease from the 25 homes sold in the month of  February2013.  Here are the addresses and specific information.

Currently there are: 25 Active listings, 1 Active short sale listings, 13 Short Sales waiting for lender approval and 31 Pending Sales

If you would like more information (pictures, listing history, what type of sales they were, etc.) feel free to call or email and I’d be happy to provide that for you.  Call or email me if you are looking to buy or sell in the Land Park or Curtis Park area.

clear skies,
Doug Reynolds

East Sacramento: McKinley Park, Fab 40's, River Park, East Sac, East Portal Park - Sales Data for March 2013

There were 30 homes sold in East Sacramento in the month of March, 2013.  That is a huge increase from the 18 homes sold in the area in the month of February, 2013 .  Here are the addresses and specific information.

Currently there are: 54 Active listings, 1 Active short sale listings, 3 Short Sales waiting for lender approval and 34 pending Sales

If you would like more information (pictures, listing history, what type of sales they were, etc.) feel free to call or email and I’d be happy to provide that for you.  Call or email me if you are looking to buy or sell in the East Sacramento area.

clear skies,
Doug Reynolds

Friday, April 5, 2013

College Greens / Glenbrook Sales in March 2013 (Sacramento, Ca)

There were 10 homes sold in College Greens / Glenbrook / Larchmont / College Greens East for the month of March, 2013.  That is a decrease from the 12 sold in February, 2013.   Here are the addresses and specific information of the sold properties.

Currently there are: 6 Active listings, 1 Active short sale listings, 10 Short Sales waiting for lender approval and 16 Pending Sales.

If you would like more information (pictures, listing history, what type of sales they were, etc.) feel free to call or email and I’d be happy to provide that for you.  Call or email me if you are looking to buy or sell in the 95826 zip code.  Check back each month for the updated statistics, as I keep a close eye on the 95826 zip code, where I live and own rental property.  Let me know if there are any particular properties you have questions about. 

clear skies,
Doug Reynolds