chadtalachguide

A Real Estate Showdown: San Diego vs. Sacramento

Thu, 02 Mar 2023 15:30:37 GMT

Comparing two of the hottest real estate markets in California.

If you're considering moving to California, you may wonder where the best place to live is. Two cities that often come up in these discussions are San Diego and Sacramento. To help you decide, I’ll share some of the things I saw during my recent trip to San Diego and compare them with what we have here in Sacramento.

Being the eighth-largest city in the U.S., San Diego was so large! During my visit, I stayed in the desirable area of Mission Beach so we could easily walk to the beach and soak up the California sun. Also, we checked out a couple of open houses to see what the housing market was like. I was curious to see what kind of property we could get for $1.3 million in some of the most desirable areas of the city.

In San Diego, we found a cute little two-bedroom, one-bathroom, 624-square-foot cottage in Mission Beach for $1.325 million. If you’re interested in buying the property, the address is 809 Sunset Ct. San Diego, California. The cottage was in pretty good condition, and I was surprised to see it had been on the market for over 100 days.

"Ultimately, it comes down to personal preference."

On the other hand, in East Sacramento, we found a beautiful four-bedroom, four-bathroom, 2600-square-foot home that sold for $1.3 million in January. The house was built in 2017, which is pretty rare for the older, established neighborhoods in the area. Again, if you’re interested, the address of the property is 4297 D Street, Sacramento, California.

The big question is: Which one would you prefer? Would you rather walk to the beach and live in a small cottage or live in a larger, newer home with a pool? Ultimately, it comes down to personal preference. If you're a beach lover who enjoys a smaller, more laid-back lifestyle, San Diego might be the perfect fit for you, but if you prefer a larger home in a more urban area, Sacramento might be more your style.

Of course, it's important to note that both cities have diverse neighborhoods with varying prices, so you might be able to find your dream home in either location for $1.3 million or less. It really just depends on what you're looking for.

If you need help choosing which area to live in or want to hear more details about the San Diego and Sacramento market, call or email me. I’m always happy to help.

What You Need To Know About Our Housing Market

Thu, 09 Feb 2023 19:52:46 GMT

Here’s what you need to know about our housing market from January.

Now that the first month of 2023 is over, how did our housing market fare? Today I’ll focus on how the core neighborhoods of Sacramento did and explain what this means for the future of our housing market.

Last month, 27 houses were pending. Right now, there are only 20 active listings. So if we take 20 and divide it by 27 to find our current inventory, you’ll see that we have less than a month of total supply.

"Things are looking up in our market."

Just talking to other agents, it certainly seems like activity has picked up in our market. This is likely due to a variety of factors, such as better weather, decreasing interest rates, and stabilizing prices.

The bottom line is that inventory is still low in these core neighborhoods, so if you list your home, it will sell. However, of those 20 listings that are still active right now, I’ve noticed a few that were overpriced. The sellers likely have no idea what their homes are worth, and frankly, it seems like their agents don’t either.

Whatever the case is, this just goes to show that who you work with matters. Don’t hesitate to call or email me with any questions. I’d love to hear from you!

How To Make Your Home More Efficient

Tue, 24 Jan 2023 18:37:46 GMT

Four easy things you can do to improve your home’s safety and efficiency.

You want to protect and maintain your house to keep it running safely and efficiently. Here are four quick tips to help you do that:

1. Change your air filter. Not only is a dirty filter unhealthy, but it also creates stress on your system and can reduce its life. Ensure that you’re changing your filter every two to three months.

2. Sit in your attic. We recently had a lot of rain, and people were surprised by roof leaks. Sit in your attic with a good flashlight and look and listen to see if you have any leaks.

3. Tune up your HVAC. HVAC companies are always running specials to get your units tuned up. Be wary of being upsold a laundry list of additional unnecessary repairs. Try to get a second opinion.

4. Check out the crawlspace. If you have a crawlspace, get in there and make sure all your ducts are connected and have no leaks. Also, look out for rodent activity.

These tips should help your home stay in ship shape. If you have any questions, reach out to us by phone or email. We look forward to hearing from you.

2022 in Review: An Interesting Market

dan.hagans@getvyral.com (Daniel Hagans) — Mon, 16 Jan 2023 19:04:17 GMT

2022 was a topsy-turvy year with a well-defined high water mark.

Welcome to 2023! I just want to go over a few stats to sum up 2022. I had a couple of goals to close out 2022. One was to close five more houses, which I accomplished, and thanks to my clients, I did get a couple of referrals to close out the end of the year. I did not lose the weight I was hoping for, but I'll keep plugging away.

So how was the market in 2022? It was basically a head-and-shoulders. Many people who follow stocks might know what a head-and-shoulders looks like. Basically, the year started out, went up, and then went down. So here are a couple of stats.

The average price, and this is for YOLO, Sacramento, Placer, and Eldorado, the average price to start the year was $624,000. We hit a high of $714,000 in May, and then, to close out the year in December, we ended up at $584,000. For the full year, We had a 6.4% decrease in average price across those four counties. However, since the high in May, that is a decrease of 22%. May of 2022 was the high watermark for prices across our region. The median price to start the year was $558,000. We hit a high price again in May with a median sales price of $625,000. Then in December, we ended at $530,000. Again, that's a 5% decrease over the year, but since May, that's a 15% decrease in the median sales price in our region.

"The market has definitely adjusted and slowed down, but transactions are still occurring."

From an average price per square foot, we started the year at around $328 per square foot. We had a high watermark in May of $362 per square foot, and we ended December at $312 per square foot, similar to the median price. That is a yearly decrease of 4.8%, and since May, a decrease of 14%.

Our inventory days on market was a low of 14 days in May, and currently, we're at about 49 days that a house sits on the market before it goes under contract as of the end of December in that four-county region. There are 2,612 homes for sale, with 1,055 pending and 1,230 sold through December. So even though prices have done that head and shoulders effect through the year, and you hear many people say that the market's dead, the market has definitely adjusted and slowed down, but transactions are still occurring. I just put one of my listings under contract the first week of January.

Anyways, welcome to 2023, and we'll see you soon. Take care, and remember to call or email me with any questions you may have. I’m always here to assist you with any of your real estate needs.

Make the Most of This Holiday Season

dan.hagans@getvyral.com (Daniel Hagans) — Thu, 17 Nov 2022 20:13:19 GMT

I hope you have a great time with your family this holiday season.

Today I'm going to share with you why Christmas is my favorite holiday. In Canada, our Thanksgiving is held in early October, and it's not as big of a holiday as the American Thanksgiving. I know that many Americans like Thanksgiving more than Christmas, but my love for Christmas goes back to my childhood. Around Christmas, it was always snowy, and I didn’t have to go to school for about a week and a half. Home was also always very cozy with the tree, the fireplace, and visiting relatives.

One thing I'm going to work on through the holidays is my patience. It's been such a hectic year for my family, and my patience has definitely worn thin this year. So when you’re with relatives, make sure you think before you speak, and just be patient with others. I wish you an awesome Thanksgiving. I hope you enjoy this time with your family.

Reach out to me by phone or email with any questions you may have. I’d love to help you.

To Buy Now or Wait? The Choice Is Yours

dan.hagans@getvyral.com (Daniel Hagans) — Fri, 21 Oct 2022 16:23:26 GMT

Whether or not it’s a good time to buy a home in today’s market.

To buy or not to buy? That’s the question I’ll be answering for you today. There’s lots of noise out in the market right now. Agents and lenders on social media are saying the market’s great, that there’s tons of opportunity, and to go ahead and buy now.

However, the decision of whether or not to buy is up to the individual’s circumstances. You could buy anything for the last five years and it was a great decision, but the market has changed. Now, you must buy smart. You have to know that there’s value in the home, buy where you want to be and where there’s good appreciation, etc.

My wife and I bought a home in May. Did we pay a high price for the house? Absolutely. Did we get a low interest rate? Not so much. Are we happy with the purchase? Yes, we are. Is the house worth more today, even though the market has slowed? Yes, it is. We put some sweat equity into it and remodeled it so we could make money off the house in the future.

"Buy smart, and you’ll be happy."

If you have any friends or family thinking about buying a home, here’s what I recommend: Make sure they have a professional agent who knows exactly what they’re doing and be sure to have a trustworthy lender. Those two people will ensure they have the information needed to make a smart decision.

There are opportunities in the market. There always are when there's uncertainty in the world and the stock market. I see the opportunities where the buyers might not. You can make mistakes and overpay or buy on the wrong street.

So to buy or not to buy is truly an individual decision. As a buyer, you must work harder to ensure you’re making the right decision . Buy smart, and you’ll be happy. If you have any questions, don’t hesitate to reach out, I’d love to help!

Explaining My Fall Goals

Fri, 07 Oct 2022 18:17:19 GMT

What are your personal or business goals for the final quarter of 2022?

Setting goals is very important for continued growth. It’s the last quarter of 2022, so here are my fall goals:

1. Lose 10 pounds. I've been hovering around 190 for too long, and I want to get down to 180. As I get older, I want to make things a little easier on my joints. I’d like to get back into racing next year.

2. Sell five more houses. I've sold 22 houses this year, and I want to sell five more. That’s why some of you might be getting mailers from me.

3. Complete the remodel on my house. We've upped the ante on our kitchen remodel because our cabinetmaker got us in sooner. We're forging ahead, and it looks like we're going to be moving in without a kitchen for a few weeks.

There's going to be a long list of little things to do next year, but those are my three goals for the fall. I'll give you an update at the end of the year and let you know how I did. What are your goals for this fall? Leave a comment or reach out to me by phone or email. I look forward to hearing from you.

The Homeowner’s Guide To Remodeling

Tue, 06 Sep 2022 18:19:08 GMT

Here are my 10 tips to get your remodeling project started.

Recently, my wife and I have been remodeling our home. We’ve learned a lot during the process, so I want to share 10 tips that will help with your remodeling projects:

1. Start early with quotes and get more than one. This is one of the most time-consuming parts of the remodeling process. Make sure to get a few because they often vary quite a bit from vendor to vendor.

2. Develop a scope of work. This is the painful part. Make sure everything is in place so when you describe the job to different vendors, it’s an apples-to-apples comparison.

3. Figure out your timeline. Trade workers rely on each other. Often, one person can’t start their job until someone else finishes theirs. To make sure everything is done on time, you can offer a bonus for meeting deadlines.

4. Get written quotes. While you’re at it, check to see if your vendors are licensed.

5. Have your vendors talk to each other. Again, what your tradespeople are working on often affects what another is doing. Make sure they communicate so everyone is on the same page.

"Never pay a vendor until they’ve done the job."

6. Stay on top of things. You should be speaking to the workers regularly and know what they're doing.

7. Ask specific questions. To do this, you’ll need to educate yourself on what’s happening with your remodel.

8. Pick someone professional. After you get a few quotes, make sure the person you choose cares about the job and will do it right.

9. Establish a payment schedule upfront. This is crucial. Never pay a vendor until they’ve done the job. Sometimes weekly payments will work, but upfront payments are dangerous.

10. Call me. I’d love to speak to you about the finer details of your project!

If your remodel is successful, don’t be afraid to call or email me. I’d love to talk to you about how much value you’ve added to your property. I look forward to hearing from you!

A Mid-Year Market Update and More

Fri, 29 Jul 2022 16:31:44 GMT

What’s happening in our market, and how my business is doing right now.

It’s the middle of the year, and we’ve all been on a wild ride. A lot has been happening in the real estate market, but maybe even more has been happening in my life. Today I’ll talk about the state of the market, why it has started to shift, and cover a few more personal topics that have changed my perspective a bit. The good news is that my business is doing great! I’m already 70% of the way to my goal for this year. Thank you all so much for working with me and referring your friends and family to me.

As far as the market goes, things are generally slowing down. There’s more inventory, and buyers have more negotiating power than before. However, if a home is priced properly, presented right, and in a desirable neighborhood, it will still get multiple offers. It just might be harder to sell the homes that aren’t presented well, and some might be overpriced because the seller hired an agent who doesn't know what’s happening in the market.

"Our market is slowing down."

Why is this change happening? The Federal Reserve is increasing interest rates and trying to push the economy into a recession, and it’s working. However, the decreased commodity price isn’t quite showing up yet and probably won’t for a few more months.

If you don’t have your health, you have nothing. I finally got COVID a couple of weeks ago. I suddenly got tired, got the chills, and was bedridden for three days. That made me realize that I need to focus more on my health, and since then, I’ve been focusing more on eating right, not overdoing it, and getting good sleep. I recommend you do the same.

If you have any questions, feel free to call or email me. I would love to help.

The Impact of Rising Interest Rates

Thu, 26 May 2022 16:30:00 GMT

Here’s what you need to know about increasing interest rates.

How will increasing interest rates affect our real estate market? In the middle of March, the Federal Reserve raised interest rates for the first time in years to slow down the economy and combat inflation. How will this affect you?

Recently, I was working with a buyer in a multiple-offer situation. They didn’t want to spend more than $700,000, but they decided to offer $720,000 because they wanted to purchase before rates increased. This may seem extreme to some of you, but, in my opinion, it was a smart move.

"Buyers are reaching to get ahead of rising rates."

Let’s look at an example to see how rates affect your purchasing power. If you buy a house at $720,000 with a 4.375% interest rate, your monthly payment would be the same as if you bought a $700,000 home with a 4.625% rate. It only took that tiny increase to equal the extra $20,000 my client put down.

There is still a ton of pent-up demand for homes, so it will take a long time for interest rate hikes to cause our market to level off or dip. However, even if prices drop, mortgage payments will be the same or possibly higher. As more buyers realize this, they’ll flood the market. Eventually, things will level off.

If you have questions about today’s topic or anything else, please call or email me. I am always willing to help.

A Sincere Thank You To All My Clients

Tue, 03 May 2022 16:52:25 GMT

I had a fantastic 2021, but it wouldn’t have been possible without you.

Today I want to take a second to thank my past clients, future clients, and anyone else I’ve worked with over the years. Real estate is a funny business; it involves a lot of self-marketing, and that’s something I and many others struggle with. In fact, it’s one of the reasons why I make these videos. However, thanks to all of you, I made huge strides in 2021, and I want to sincerely thank everyone for what you’ve done to help me.

One of the biggest milestones in real estate is joining the Master’s Club. This is a group driven by the Sacramento Association of Realtors, and you needed to have had at least $5.75 million in sales volume in 2021 to join. Not only did you help me meet this mark last year, but we absolutely crushed it. In total, I did over $20 million in sales in 2021, and I couldn’t be more grateful.

"My personal success wouldn’t be possible without you."

When I first started, my goal was to reach Master’s Club, and now, I’ve achieved it. Based on local numbers, I’m in the top two or three percentile of agents in our area. This is a fantastic personal achievement, but I understand I didn’t do it alone. We did this together, and I want you to understand that my personal success wouldn’t be possible without you.

Some of you may know I’ve been the broker of record for the last seven months. This means that the 140 agents we have at Guide Real Estate have been hanging their licenses on my broker’s license, and I’m essentially responsible for them. I’ve enjoyed helping them help their clients, and I look forward to continuing to do so in the future.

I always try to keep my clients’ best interests in mind, so if you have any questions for me about anything at all, please call or email. I look forward to hearing from you!

How to Decide Whether a Multi-Unit Property Is a Worthy Investment

Mon, 07 Feb 2022 22:18:57 GMT

Here’s how investors determine if a rental property is a good investment.

If you’re looking to get into the real estate investment game, you’re in luck. Today I'll show you how to determine whether or not a property is attractive as an investment based on its list price.

Let’s use a two-unit duplex listed for $500,000 as our example. Let’s also assume that the current rent for each unit is $1,300 per month.

To determine whether it’s a good investment based on the list price, here's what I do. I first take the $1,300 per unit and multiply it by two to get the monthly rent. Then I multiply that number by 12 to get the gross rent for the year: $31,00. The next step is to apply the gross rent multiplier. In this case, it’s 16. So I take $31,000, multiply it by 16, and get a potential value of the property at $499,920.

"Some simple math will help you determine if the property is a good deal."

Now let’s say I bought that same duplex for $500,000 but decided to put in another $100,000 in upgrades to increase the rent to $2,000 per month for each unit. What’s the unit worth in that case?

The gross rent for the year at $2,000 per unit per month is $48,000. If I apply the same gross rent multiplier of 16, that property’s value is now $768,000. If I bought this property for $500,000 and dumped $100,000 into it, now I basically have $168,000 in equity on top of that. There are a few more expenses in there, but it just gives you a quick idea of how investors determine whether or not a property is attractive based on its price.

If you have any questions for me, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.

What To Expect From Q1

Mon, 24 Jan 2022 19:02:38 GMT

What you can expect from the real estate market in Q1 of 2022.

The real estate market in the Sacramento region will be extremely competitive, and there are a couple of reasons for that. Today I'll talk about what I expect to happen in the first quarter of 2022.

Typically, we have a lot fewer listings over the holidays. There’s a drop-off in demand from the buyers, so there isn’t as much market activity. However, buyer demand strongly ramps up again in the first few weeks of the new year. Demand is going to rise, but supply won’t increase as quickly. I also believe that the Bay Area migration has not peaked yet, so we should continue to see people from the Bay Area coming to our market. That demand puts pressure on prices.

"I believe that we'll see a perfect storm in the first half of the year."

I believe that we'll see a perfect storm in the first half of the year. As interest rates rise, there is also more pressure from inflation. Individuals who want to get a house are going to try to get one sooner rather than later and do everything they can to secure that house. That might include paying more or releasing all their contingencies upfront, creating a competitive environment.

If you're a seller, it's a great time to sell. If you want to maximize the value of your house, let's talk. I can help you put money into the proper places to maximize that sale. If you have any questions, don’t hesitate to call or email me. I look forward to hearing from you.

Letting Go of Your Home

Wed, 08 Dec 2021 00:18:39 GMT

As a home seller, don’t let your emotions get in the way.

I recently put my personal property on the market, and I learned a great lesson about what my clients experience when they sell their homes. The most important thing that I learned that today’s sellers should also learn is this: You have to let the house go.

If you’re selling your personal house, you need to come to terms with the fact that it’s no longer your house. During the selling process, that house becomes a vehicle to get you to where you want to go. For me, it took me nearly two weeks to grasp the fact that it was not my house anymore. Because it wasn’t mine, I needed to take my personality out of the house and make it more generic so that it would appeal to the widest pool of buyers.

“You have to let the house go”

We eventually brought in a professional stager to fix up the house for the market. After me being a bit of a pain for a couple weeks, the end result was that the house went pending within the first week with multiple offers, and we expect it to sell at or above a new record for the area.

So in the end, try to keep a clear head and steer yourself away from acting based on emotions. If you can think of your home sale as a raw business transaction, you’ll be much better off.

If you have any questions about selling your home or anything else to do with real estate, don’t hesitate to reach out to us via phone or email. We’d love to hear from you. Happy holidays!

Your Options To Buy Before You Sell

Fri, 05 Nov 2021 00:03:50 GMT

Here are some of your options when buying before you sell.

What are some other options you have if you need to sell your home before you can buy? Let’s talk about it.

Let’s say you are approved for an $800,000 loan, but you really want a home in the $1 million range. This is when you reach out to your rich family and friends to see if they have any funds you can borrow to buy your new home. When you sell your old home, you’ll have plenty of money to pay them back. Of course, this isn’t an option for everyone, but if you have the opportunity, I suggest you take it.

You could also sell your current house and move into a short-term rental. This lets you have more strength when shopping around, and you’ll know exactly how much you can spend on your new home.

“In my opinion, bridge loans are overhyped.”

You can also sell your current home and arrange a long rent-back agreement. In today’s good market, you can reasonably get a 60-day period to look for a new home. The bad news is that if you can’t find a home in that period, you’ll probably have to rent somewhere temporarily.

Let’s say you make a lot of money, but you don’t have a ton of money saved up for a down payment. You could arrange a loan where you only have to pay five or 10% down. After you sell your old house, you can use the funds from that to rearrange your loan and put more money down.

You could also use a bridge loan, but I think these are overhyped. The numbers usually aren’t very good, so if you can borrow from a friend, I recommend taking that option. You could also use hard money, but this is a pretty risky option.

If you have any questions about today’s video, please call or email me. I am always willing to help.

How To Use a Home-Sale Contingency To Win

Fri, 22 Oct 2021 23:51:09 GMT

Here’s what happens when we have a homebuyer who needs to sell.

Using a home-sale contingency to find a replacement property is an underutilized strategy. It’s used when you need to sell your current home to buy a new one.

A lot of home sellers who are looking to buy need the funds from their sale to make their next purchase. If you’re in this situation, there are a few things you should know before starting the process.

First, know what you can buy up to without having to sell your current house. Talk to a lender and see if you can qualify for a second mortgage. If you can’t or you can’t qualify for a high enough amount, then we can lean towards adding a seller contingency in your contract to find a replacement property.

Here’s how the process works. We start by listing your home and getting it under contract. Then the buyer would start their 30-day escrow period. While they’re going through that period, we will be actively putting offers in on houses that are contingent on the sale of your old home.

“I like to negotiate a two-week rent-back agreement for my clients.”

In certain neighborhoods and times of the year, a contingent offer isn’t the strongest offer, but consider the fact that as the buyer of your current house moves along in the process, your offer gets stronger and stronger. It’s easier for us to sell you to the seller as a contingency buyer if your home is under contract and waiting to close. The house is essentially sold at this point, and we can relay this message to the seller.

When I utilize this strategy with my clients, I like to negotiate a two-week rent-back from the buyer. This gives you an additional 13 days to prepare your new home and start moving stuff in.

Next time, I’ll talk about the three other ways that you can sell and buy at the same time. If you have any questions about the seller contingency process or anything else related to real estate, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.

Getting the Best ROI When You Sell Your Home

Fri, 01 Oct 2021 23:42:28 GMT

When selling, focus on these areas to maximize your outcome.

When I sit down with sellers, one of the main things we discuss is what we should do to the house to maximize the return on the sale. Which projects are best can vary widely by the house, but generally, there are two key factors you should focus on to achieve that result:

1. Clean it up. Cleaning your home is free, beyond the sweat equity you put into the cleaning. Decluttering your house can make it feel and appear larger. That means getting rid of a lot of unneeded knickknacks and other things that take up space. Pack those things up and store them away in the garage or a storage unit. To budget for a professional deep clean for a 1,700 square-foot, 3-bedroom, 2-bathroom house, plan to spend between $6,500 and $7,500.

“You can’t just rely on a house having potential—you have to show that potential."

2. Paint, stage, and change out light fixtures. By doing all three of these tasks, you can completely change the feel of a house. Painting the interior of a 1,700 square-foot house should cost somewhere between $2,500 and $3,300. That depends on whether you include baseboards and ceilings and if wallpaper needs to be torn down. Staging can cost anywhere between $1,800 and $2,800, depending on how many rooms you want to stage. Changing out light fixtures can cost around $150 per fixture; typically, I change out between five and seven per house.

Check out the video above at 3:37 to see some before and after photos of a home we recently worked to sell. Had we not utilized our budget of $7,000 to prepare the home, we would have listed it at $599,000, but because we did, we listed it at $640,000. The house ultimately sold for $700,000!

You can’t just rely on a house having potential—you have to really show that potential, and taking care of these projects can make all the difference in your sale.

If you have any questions or need assistance in getting your home ready to sell, don’t hesitate to reach out to us. We’d love to help you.

How We Got Ourselves Into a Nationwide Housing Shortage

Thu, 23 Sep 2021 22:55:30 GMT

Here’s why the nation is in the midst of a major housing shortage.

There’s been a nationwide housing shortage going on for a while now, so today I’m going to be breaking down the statistics behind the local, state, and national lack of inventory.

In the 1970s, 17 million houses were built nationally. The 1980s had 15 million, the 1990s had 13 million, and the 2000s had 16 million. If we calculate the average of these four decades, we see that there were around 15.25 million homes built per decade. From 2010 to 2019, however, we only built 10 million houses.

Here’s what makes this a big problem: Over those four decades, for every one million Americans, there were 45,000 houses built. Over the last decade, though, there were only 21,000 built per one million Americans.

“There’s just not enough supply to meet demand.”

When Gavin Newsom took office in California, he vowed that 3.5 million houses would be built by 2025—in other words, 440,000 houses per year for eight years. Over the last three years, however, only 100,000 were built each year. Needless to say, there’s a major shortage here. Statistics show we’re short by anywhere from one million to three million homes.

Let’s now dive into our local market and look at how median prices have changed in the counties of Sacramento, Placer, Yolo, and El Dorado over the past five years. In 2017, the median price was $335,000. It rose to $380,000 in 2018, $385,000 in 2019, $420,000 in 2020, and $460,000 in January 2021. Today, it’s around $550,000.

We’re short by around four to six million homes on a national level and one to three million on a state level. It can take decades to catch up on this kind of shortage, and it’s easy to see how it affects our local market—all you need to do is look at how much home prices have skyrocketed.

This is also why the housing market will remain strong unless there’s some sort of meltdown. There’s just not enough supply to meet demand. If you have any questions or would like more information, feel free to reach out to me. I look forward to hearing from you soon.

How To Handle the Request for Repairs Process

Tue, 14 Sep 2021 23:06:07 GMT

Here’s why the nation is in the midst of a major housing shortage.

In the real estate process, the escrow period is usually 30 days (though it can be shorter). In that time, the buyer has the right to inspect the house and request repairs from the seller. Whether you’re a buyer or seller, you need to know how to handle this process correctly and what to do should something need to be repaired.

Feel free to watch the full message above, or use these timestamps that will direct you to various points in the video:

0:00 — Introduction to today’s topic

0:50 — What is the request for repairs process?

1:30 — Should sellers do pre-inspections?

2:50 — What should sellers expect if they get a request for repairs?

4:10 — What should buyers be asking sellers to repair?

5:55 — The best way to handle requests for repairs is to have an excellent agent

6:15 — Wrapping up today’s topic

If you have any questions about the request for repairs process or real estate in general, reach out to us via phone or email. We would love to help you.

Will We See Falling Prices?

Mon, 09 Aug 2021 22:52:56 GMT

This fall might actually be the best time for you to buy a house.

Are prices going to drop? In the last couple of weeks, I’ve had two clients who decided to wait for prices to drop.

Historically, the market cools off through the fall and holiday season in Sacramento. Kids are about to go back to school, and parents like to make their purchases before they do. By the time the holidays come around, people are too busy to think about moving and buying a house. Late season sellers sometimes price their home without anticipating that demand will diminish through the fall and holiday season. Then, as the house continues to sit, they get nervous and are ready for a lowball offer.

This fall, there will be an opportunity for people to buy at a more attractive price. The houses that aren’t presented as well are a lot harder to sell and will sit on the market. That’s where the opportunity lies. I anticipate the market will stay strong, and once we get into the new year, we’ll experience the same seller’s market we experienced this year. When the buyers rush back there won’t be enough houses for the demand.

If you have any questions, please feel free to reach out to me.