Tag Archives: South Sacramento

Sacramento Housing Inventory (Spring/Summer 2013) – Like Trying to Find a Needle in a Haystack

However cliché this title sounds, buyers and some realtors alike are completely discouraged by the lack of homes to choomonoploy housesse from.  I just read the statistic that the median days on the market for a home in April 2013 was 12 days.  In addition,  the inventory has shrunk a bit further since then.  Buyers use to say or think, “If I don’t get this particular property, I will just wait for the next one.”  Now they are saying, “The next one might cost more than we want to pay (or can afford), or we may have to wait 4 months to find it!”

Some home buyers have told me that they are just going to wait until the next dip in the market.  This could be extremely wise, or they could be waiting a while?  Time will tell.  Ultimately, like my dad use to say, “You’ve just got to get on the merry-go-round, or stand on the sidelines and wait.”

One Fortunate Buyer in Sacramento CA

I just closed a deal that could not have gotten much better for the buyer.

1) She was paying $1700 in rent for a decent unit in Midtown (but, still a lot of money).  the buyer got into contract for $122,750 on a 1890’s Victorian home (just what she dreamed about!).  Here housing payments were going to be about $730/month.

2) We got into contract before April 30, 2010 as to qualify for the Federal Tax Credit of $8000.

3) We closed after May 1, 2010 so to qualify for the $10,000 Tax Credit from the State.

4) The appraisal came back at a value of $105,000, so the seller was compelled to come down to that price. Now her payments will drop below $650/month!

Let’s do the math… About $18,000 savings on the purchase price (with a lower deposit amount), $18,000 in tax incentives – that’s a nice, quick $36,000.

5) The home inspection came back very clean and the pest inspection had minor work needed.  A few bonuses:  We found out that the foundation was redone at some point in the last 10 years; The roof was only about 1-year-old; There is hardwood underneath the laminate overlay, which is part of the buyer’s dream too!

Congratulations Laila!  I look forward to champagne this afternoon.

Enjoy,

Keith Klassen – Real Estate Broker

916.669.9030

Energy Efficient Home In Sacramento CA

I am fortunate to do regular work with the developers, Housing Group Fund, especially in acquiring and selling properties.  They recently partnered with Smud (our local utility company) on a home in a middle to lower-income area to rehabilitate it and make it energy-efficient.  Yesterday they held an open house for the real estate community.  They had the Quad-Lock blocks on display (see an earlier post of mind on this product, on this home).

This home is a great example of what true stimulus can accomplish.  Neighborhoods that usually do not get attention like this, could be transformed.

A friend of mine and appraiser, Ryan Lundquist, was there too and put together a fantastic video showing off the home.  Check it out below.

Enjoy,

Keith Klassen – Real Estate Broker

916.669.9030

New Energy Efficient Technology

This post is not very sexy, but hopefully interesting.  No special windows or solar-power… just insulation.  I work with a (re)developer that is partnering with Smud (our local utility co.) on a rehab project in South Sacramento.  Smud’s claim is that this is the first house on the west coast in which this product has been use.  In layman’s terms, it’s a foam, interlocking block that is stacked up around the outside of the house.  Wire and stucco are then applied.  Supposedly it is extremely easy to install (my kids would love to get a hold of this stuff) and super energy efficient.

Enjoy,

Keith Klassen – Real Estate Broker

916.669.9030

The Things We See When Viewing Property

I know you were hoping for a risqué story… or the one were the daughter called the police on me for “breaking in” and “accosting her” as the mother said… nope just a cool indoor sauna.  I walked into one of the space rooms of this blue-collar home and “Whoa, didn’t expect to find this…

Enjoy,

Keith Klassen – Real Estate Broker

916.669.9030

Great Remodeled Home for First Time Home Buyer in Sacramento CA

Welcome to 5761 Sampson Way.

This house has been renewed… all you will need to do is move in (and plant a garden in the humongous backyard).

This home has been painted inside and out.  There are new doors (including security doors), new trim, new carpet and tile flooring.  The kitchen and bathrooms have been renovated and upgraded.  Check out the granite-slab counter tops and recessed lighting.

Just to mention a few more of the many upgrades – New central heat and air units, new landscaping, and newly pour concrete driveway (these costs and really add up).

You get all this for under $100,000.  That’s only about $775.00 per month in housing payments, which is less than you’d pay to rent this house!  We have more for sale like this.

Enjoy,

Keith Klassen – Real Estate Broker

916.669.9030