Here's an excellent visual for sellers that are preparing their home for putting it on the market. Most sellers either don't have a lot of money to put into staging/fixing up their property or don't want to. So, here's a great guide from Moshells.com that i recently found. Let me know your thoughts....
I hope your 2015 is off to a great start and may this year be filled with happiness, peace and prosperity for you and your family.
2014 Sacramento Area Real Estate Year in Review
*The median price ended the year at $268,000. A 7.2% increase from the year before!
*15,782 homes sold in 2014. That is 7.3% lower than the 17,029 sold in 2013.
*Of all the Sales from 2014: 20.9 % were CASH, 46.2% Conventional, 22.3% FHA and 5.6% VA.
*The available housing inventory has been slowly increasing and is up to 2.8 months. I expect that number to increase more as we continue through the winter and spring. A “normal” or “balanced market” has been redefined over the past decade and is now considered 3—4 months.
*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.
*2015 is looking like another “Normal/Balanced/Healthy” market with slight appreciation.
Guest Blogger: Today's post is written by Sacramento Mortgage Expert, Matt Gouge. All of his contact info and more can be found at this website: www.mattthemortgageguy.com. Thank you Matt for providing this great info for potential buyers in our Sacramento Real Estate Market. FHA’s reduction of
mortgage insurance premium – What does that mean?
heard the announcement that FHA will reduce its annual mortgage insurance
premiums from 1.35% to 0.85% it sounded good, but perhaps you don’t know what
that really translates to. Allow Matt The Mortgage Guy to simplify it.
of an FHA-insured loan is to encourage home-ownership, even among people who
may have small down payments or poor credit. It does so by federally insuring
the loan, which defrays some of the risk from the lending institution. With
this extra risk they take on these loans they charge an annual mortgage
insurance premium (MIP).
Here is an
example of the change*:
Pre-change: If you borrow $250,000 using an FHA loan your annual MIP
(1.35%) would be $3375 ($281/mo)
Post change: You borrow the same $250,000 with an FHA loan but your
annual MIP (0.85%) is $2125 ($177/mo)
It may not
seem like a huge deal but for folks buying their first home or bouncing back
from the market crash, this $100/mo could be the difference between renting and
in my opinion, was long overdue. In order to support the housing markets
recovery FHA needs to make their loans affordable to those who utilize this
financing option. This is another step in the right direction and one that will
help millions of homeowners in the coming years. Good on you FHA!
If you or
someone you know is looking into buying and you want to know all of your
options, (many of which require very little down payment), I encourage you to
reach out to a mortgage professional. You may be surprised to learn that you
are ready to take that exciting leap of becoming a homeowner.
Doug Reynolds, a Sacramento Area Realtor, provides a recap of what went on in the Sacramento Real Estate market during 2014.
2014 was one of the most "Normal" years for Sacramento Real Estate in over a decade. It was a "Healthy" Balanced market that saw some appreciation but not an unsafe amount. There were still cash purchases but the amount of Conventional and FHA buyers returned to a steady number. The inventory played a large part in providing balance to the market as well.
Just SOLD!!! 1-14-2015 in Rosemont (Sacramento, Ca). Congratulations to my buyer, a wonderful client and friend. So proud of you purchasing your first home in an area that you know and love so much. I look forward to seeing all the unique changes you make to the house as you make it your "home." Congrats. I was honored to represent you and guide you through the home buying process.
3 bedroom 2 bath 2 car garage single Story home.New Carpet & Fresh Paint,New AC and furnace installed in 2012.Close to great schools,Rosemont Community Park, HWY 50,public transportation and shopping. Great starter home.'This charming home is move-in ready!!' One you don't want to miss!!!
Nobody has a crystal ball and especially not in real estate. But...
Doug Reynolds, a Sacramento Area Realtor, gives his "wild guess" predictions for the 2015 Sacramento Real Estate market. In this video, Doug talks about interest rates, inventory, cash buyers, appreciation, market values, balance between buyers and sellers
Jot this info down and give Doug a call or email in one year and let him know how right or wrong he truly was :)