Tag Archives: Oak Park

Appraiser Kills Another Deal

[in a very sarcastic tone of voice]

I love spending uncountable hours searching the internet, showing many properties, counseling the buyer, writing a contract (with many revisions), coordinating with the lender/loan officer, scheduling and attending multiple inspections, re-showing the property, counseling the client, meeting for lunch and coffee multiple time to sign disclosures and paperwork, running numbers, Negotiating repairs, etc., etc., etc., …. ONLY TO BE KILLED BY AN APPRAISAL THAT COMES IN $16,000 UNDER THE CONTRACT PRICE.  This killed the deal for both the seller and buyer.  It is not a flip, short sale, or bank owned.  Don’t get me wrong, I love my job and I excel in these situations, but this is ridiculous!

[in a serious tone of voice]

Here are some of the wonderful aspect of the property…

New paint (inside and out); Newer roof; New electrical and plumbing; Renovated kitchen and bathroom; Newer central heat and air; Double size lot; Historic built-in china cabinet; New front door; Several new windows; Section 1 and 2 of pest report to be cleared, and more!

Yes, this property happens to be in Oak Park, Sacramento, but most all knowledgeable appraisers and agents know that Oak Park is “street by street.”  I personally know several of the residents on this street.  Comparing this home to homes a mile away does not do the home justice.

I am coming to believe that this area is being redlined.

Again, my question stands:  When will the market drive the market oppose to appraiser and bank practices?

Enjoy,

Keith Klassen – Real Estate Broker

916.669.9030

Home in Escrow – Oak Park Victorian!

I just got into contract with one of my clients on this property in Oak Park.  It’s a fantastic 1890’s Victorian.

We just did the home and pest inspection yesterday.  I love days like this when the nspections moves forward without any big surprises.  I say this because every home has issues, especially ones built-in the late 1800’s.

Can you believe this home, in a decent part of Oak Park, in reasonable condition, is selling for a little over $100,000?  The home inspector asked if it is on slab or has a crawl space… I said “neither.  It’s a walk space!”  This basement (well it’s above ground) has at least 9 foot high ceilings!  My first thought when I viewed the property was, finish this out and double your square footage!

I was shocked with how little dry rot there was, plus a new foundation (no bricks) and an almost-new roof!

Check out the pics.

Keith Klassen – Real Estate Broker

916.669.9030

Faded Lady – The Guild in Oak Park, CA

The Guild Theater in Oak Park sends my thoughts back to a different era.  Oak Park has a fascinating history, that enjoyed a time of boom.  I love this building, the sign, and the brick work, yet I’ve not had the chance to go inside.

A friend of mine said that he when to a community gathering there about 6 or 7 years ago and water was leaking in from the ceiling.  Since then I believe that it has been restored.  I bet it was a wonderful place in it’s hay day, and still could be!

Old Soul Coffee house just moved in around the corner… signs of revitalization to come?

Enjoy,

Keith Klassen – Real Estate Broker

916.669.9030