Real Estate by the Numbers – Sacramento CA

Now IS the time to buy.  This is no secret.  Let me show you quickly a few real examples of deals that I’ve closed.

Exmaple 1:

Use to pay $1300 in rent for a 3 bedroom home.

– Purchase Price $125,000; 3.5% downpayment (FHA loan); will get $8,000 tax incentive from government

– 3 bedroom 1 bath home; B- area (not the best area, but not terrible); complete remodel with new roof, HVAC, water heater,kitchen and bathroom, flooring, windows, fireplace (all new!) and more.  It has a large 2 car garage.

– Monthly payment including principle, interest, tax and insurance, and PMI = ~$950/month!

They are saving money for buyer vs. renting, plus they will not have huge tax write offs AND $8,000 to buy whatever they want.

Example 2:

Another buyer did the same thing on a $130,000 home it the same area – this home needed a little work, but qualified for FHA financing.  This was a 4 bedroom 2 bath home.

[the pictures posted are the actual homes]

There are still great deals out there for those serious about buying.

Enjoy,

Keith Klassen

Real Estate Broker

The Landscape of Curtis Park, Sacramento

I love to pay attention to the establishments in my neighborhood, especially those that are doing good work and helping people.  On a typical day there will be several blind people who stroll down my street with confidence and a positive demeanor.

Here’s a little background for those who were curious like me….

Formed in 1953 and has been at it’s present site since 1967!  Society for the Blind was born in 1953 when a group of Adult Blind from Sacramento County formed an association to open a center where blind and visually impaired people could meet and interact with one another. On October 14, 1954 the Sacramento Valley Center for the Blind was incorporated.

While the original intent of the Center was to provide a congregating space for blind and low vision people in the Sacramento area, by the early 70’s the name had changed from “Center for the Blind” to “Society for the Blind” and a new vision had been established. The new vision included providing life and job skills training, counseling, and access to help and tools for the thousands of blind and visually impaired people in Sacramento and the surrounding areas.

In 1970, the Society launched the Self-Reliance Institute, an eight-week summer program designed to meet the unique needs of blind and visually impaired teenagers. This program helped over 200 teenagers make an easier transition to school, work, and independent living.

In October 1975 the Society established one of the first low-vision clinics in Northern California. This enhanced the value of the Society by providing services for a greater number of people.

In 1978, the Senior Self-Reliance Program was launched. Now called the Senior Intensive Retreat, this program has given hundreds of blind seniors the chance to learn daily living skills through a committed, supportive program.

In 1982, funded by a grant from the Delta Gamma Alumnae, the Aids to Independence Store was formed. This store has hundreds of tools — from white canes to cooking tools to talking watches — to help blind and low vision people with everyday living.

In the late 1990’s, Society for the Blind received a government grant which enabled the development of California Access News. This is a service where Californians can call a computerized service that provides them with information such as newspaper and magazine articles, local news, and movie and television listings.

A government grant early in the new century helped the Society to establish the Career Development Program. This program gives working-age blind people access to training, counseling and job-seeking assistance, allowing them to enter and maintain their positions in the working world.

Services include, but are not limited to:

1. Orientation and Mobility

2.      Braille Instruction

3.      Daily Living Skills

4.      Adapted Computer Skills

5.      Low vision clinic

6.      Senior and youth programs

7.      Career development program

[Information taken from Society for the Blind’s website.  For a more in-depth look, go to www.societyfortheblind.org ]

Enjoy,

Keith Klassen

Real Estate Broker

Front Doors on Historic Homes – Curtis Park, Sacramento

There is just something special about a unique front door. Nowadays, most suburban developments push the garage to the front and restrict social activities to the privacy of the back yard. The front porch, the door, the vestibule were all attributes of a different era for which many now long. A door that says “Welcome!” Or one that speak of intrigue and curiosity, as if to say, “If you think this is interesting, wait until you see what’s inside.”

Just one of the many awesome front doors and homes in my neighborhood (Curtis Park, Sacramento)

Enjoy,

Keith Klassen

Real Estate Broker

Renovation in Curtis Park, Sacramento

It’s always great to see things happening in our neck of the woods.  Business thriving, homes restored, and new things coming to life all around us.  The local women’s gym, Figure 8, seems to be a big hit.  For the last month they have been undergoing a face lift, redoing their storefront and perhaps reconfiguring the entrance.  This renovation should be an attractive upgrade to the already thriving neighborhood.

Stay tuned for the finished product.

Enjoy,

Keith Klassen

Real Estate Broker

New Woodside Solar Homes in Sacramento / Rancho Cordova

I’m writing about these homes for two reasons:  1) I just got into contract on one for a client; 2) Solar is awesome.

Here’s the deal:

– New Home!  Ten year warranty on structure and solar; Two year warranty on plumbing and electrical; One year warranty on everything else.

– Solar!   The say that the power bills can be on average $20-40 / month.  Low power users actually get paid, as they sell back the power that they do not use!

– My client is paying under $225K for a 3 bedroom, 2 bathroom home that is about 1500 square feet.  Granite counter tops, good standards, and attractive finishes.

– Incentives!  $8000 from the government as the home will be ready by the end of June.  $5000 from Smud for solar panels.  $6000 plus from the builder to pay for closing costs!

– Decent location, especially since my client works in this area; good resale value due to the solar; Parents approval… the list goes on.  Check out the builder’s website.  They mention cows across the way in their disclosures – ha ha ha .

Enjoy,

Keith Klassen

Real Estate Broker

Local Eats – Old Soul Oak Park, Sacramento

I love to frequent coffee shops, a place to read, do business, and meet friends – oh, and to drink delicious coffee.  Depending on my mood and the places I need to be, determines my destination.  I am swayed by the quality of coffee, ease of finding a seat, and WiFi connection (which is pretty much everywhere).  I’m also big on the local, home-grown haunts.  I like to root for the little guy.  Then some times the little guys gets too big, or big-headed, so I venture out and find another third space.

The old Starbuck’s on Broadway in Oak Park folded (can you believe it – Goliath goes down!) several months ago and the rumor had it that Old Soul was taking over – a great story (click on the link to read about it on their website).

I heard they opened and had to check it out.  While the Midtown one at Weather Stones is awesome and now serves beer and wine, it is also crowded and hard to find a table at times.  I was glad to head over to the Broadway one, which is just as close to my home in Curtis Park.  There were plenty of seats, the decor was very appealing, and the coffee is fantastic as always.

I love the quote on their website, under their “Story” and “Philosophy section:

“Never doubt that a small group of thoughtful, committed citizens can change the world; indeed, it’s the only thing that ever has. ”  – Margaret Mead

What does this have to do with real estate?  …. Not much, however, good business is connected with and does affect area values and the general ethos of the landscapes in which we dwell.

I wish Old Soul well and hope they succeed as they participate in the efforts of revitalizing Oak Park, Sacramento.  Check it out.

Enjoy,

Keith Klassen

Real Estate Broker

Consolodated Furnace with Nox Rods

I learn something new everyday.  Last week one of my clients had a home inspected on which they made an offer.  Everything seemed to be going smoothly… then he dropped this bomb on us. ” The heater is a consolidated type with NOx RODS.” The rest of us looked at each other blankly.  “This type of furnace has been recalled because it is know to combust and burned people homes down” – just what the client wants to hear!  From a sales point of view, this could be a deal- killer.  From a safety standpoint, this could save people’s lives.

Do an internet search on Nox Rods and you will be amazed at the long list of warnings.  For us, I was able to negotiate with the seller to hire an HVAC specialist to give this unit a “good bill of health” and their stamp of approval, since not all Nox Rod furnaces are created equal.  If not safe, they said that they would replace it.  Also it re-enforces the premise, just because homes are sold “as-is” and the seller states up front that they will do no repairs… “health and safety” always trumps that rigmarole.

Enjoy,

Keith Klassen

Real Estate Broker

Local Eats – Orphan

While this is almost completely unrelated to real estate, I just had to add a category for my food, beverage and restaurant review.  This is my blog, right!  So focus can some time go out the window.  I’m in the habit of taking a picture of a plate of food or bottle that I’ve enjoyed and want to remember.

About a week ago my family ambled over to Orphan in East Sacramento one Saturday morning.  I read the Yelp reviews and wanted to experience it for myself.  Orphan is a breakfast joint that took over the formal Moxie Jr. location (Moxie’s [the original] is one of our favorites for an upscale dinner).  Orphan is owned by the same folks as Tupelo Coffee, which is part of the Naked Coffee Roasting Co.

I’m not sure if this picture looks appetizing, but it was soooo good going down.  It was an artichoke heart, tomato scramble thingie, with fresh baked bread.  Oh, and if you are a coffee lover… their coffee blew my doors off.  I mean, at first the whole spiel about how they brew each cup special, etc., etc…. I was like, yeah whatever, just give me the coffee! Then to drink this nectar of the gods… put it this way, I bought a pound to take home.

Go check it out.

Enjoy,

Keith Klassen

Real Estate Broker

Short Sales – Taking it Personal

I have landed in a place where I am selling a few of the properties I own, in a short sale position.  It seems like a year ago there would have been ridicule and maybe a little pity for those poor folks who find themselves in this situation.  I struggled to come to grips with this reality and felt some remorse.  Now we all know someone who is facing foreclosure, being “upside-down,” late on their mortgage payments, or trying to short sell their home.

Short sales may currently comprise up to 75% of the market right now.  All arrows are pointing to 2010 to be the year of short sales.  Supposedly banks are getting government incentives and getting a clue in general.  Oppose to letting these homes foreclose, a short sale is now the most workable route for both the owners and banks.  Personally I’ve had successes with short sale at the end of last year and one already this year, which has changed my demeanor toward them.  Now I trudge through the grueling process of pushing my own properties through.

I met with an agent and his buyer at my 4-plex that is up for short sale yesterday.  After handing me the offer we discussed the short sale process.  The other agent commented, “They should be called long sales, not short sales!”  For the most part, very true.  I just closed one that took the bank 4 months to approve.  While another one that I listed got approval in 1 week!  I still stand in unbelief.  I just contacted an agent representing a short sale property, where they had a buyer waiting for ….. 15 months!!!! before they said, “Uh, this is ridiculous!  We’re outta here! [my conjecture]”

I hold my breath and wait to see how my own experience will transpire.

Enjoy,

Keith Klassen

Real Estate Broker

Real Estate on Super Bowl Sunday?

Why do I always find myself trying to get into contract or make a significant move on  a holiday weekend, or big cultural “holiday?”  What I’ve found, these are prime opportunities for deals to be made.  While other agents are getting their buffalo wings and chilli cheese dogs ready, I’m showing houses and preparing offers.  I know, it sounds a little snotty and arrogant.  The reality is, I enjoy working hard and getting the job done.  My hope is to have it all.  I was back in time to be with my family, have a meal with our neighbors, eat some tri-tip, catch some of the game, and write the offer.  Feels good.  I am thankful, especially during these economically challenging times.

Enjoy,

Keith Klassen

Real Estate Broker