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RISING PRICES AT RIVA ON THE RIVER CONDOS IN WEST SACRAMENTO
1260 Riva Dr, #5, West Sacramento, CA 95691
My lucky clients just closed the sale of a unit in Riva on the River condos in West Sacramento. They bought this condo at the height of the market, before the crash and avoided capital gains due to a small loss, yet it still sold at a record per-square-foot-price of $213. Prices are rising at Riva condos in West Sacramento. We can’t keep anything in inventory. Buyers are desperate to buy condos in that complex.
It’s a nice complex, too. With a swimming pool, well manicured grounds, guest parking, courtyards for each unit, I’ve sold a lot of condos in Riva over the years, and more so lately. The short sales are gone. Practically every owner has equity now, and the HOA limits the rentals to 25% of the units. There is a waiting list for rentals.
In fact, I had a seller asked me to check out another potential condo for sale in Riva a few days ago. A rental, and her tenant was very unhappy. The tenant said, “It’s all the Realtors’ fault. Realtors called my landlord and told her they had buyers. They pushed her to put this condo up for sale, and now I have to move. Don’t Realtors understand people want to live here and they don’t want to have to move? How can do they do this to me? If it weren’t for Realtors, this wouldn’t be happening.”
What? Hello? I don’t think anybody’s home. Well, it wasn’t me who called the seller. I’m just the West Sacramento Realtor who will be taking the listing. The average sales price over the past three months in the Riva condos is $268,000. Compared to the same period last year, the average prices were $238,000. That’s a $30,000 price jump.
My listing at 1260 Riva Dr #5, West Sacramento, CA 95691, just closed escrow on June 14, 2017 at $279,000. It is a 2 bedroom, 2 bath at 1307 square feet. The buyer paid cash. Local buyer, too, not a buyer from the Bay Area. The buyer purchased this home contingent on selling her home on Q Street, but since my buyer’s agent represented the buyers on the sale of her home, it was a no-brainer to take a contingent offer on condos in West Sacramento. We knew it would close. It’s all in who you know.
The buyer of Riva had asked the sellers to sign a Request for Repair, even after agreeing to buy the home in its AS IS condition. The buyer found a few plumbing leaks and other things. So? We served the buyer with a Notice to Perform to remove the inspection contingencies. The buyer’s agent asked, aren’t we responding to his Request for Repair? We did. We sent the Notice to Perform. Which allows us to cancel if they don’t move forward. We are not required to respond to the Request for Repair.
Buyers don’t always understand how these things work in this market. They saw the light and removed their contingencies, thank goodness, and we didn’t do any repairs.
This is a hot market, especially for condos in West Sacramento. I look forward to my next listing in Riva on the River. Probably next week.
Luxury Condos in West Sacramento: New Listing from Elizabeth Weintraub
1260 Riva Dr, #5, West Sacramento, CA 95691
When you’re looking for luxury condos in West Sacramento, you owe it to yourself to check out Riva on the River. These condos were built at the height of the real estate market in 2005, just before the crash, so many of these units had been short sales during the early downturn of the market. But that dip in the Sacramento real estate market has rebounded pretty much by now, and condos in this complex are selling like hotcakes. Although, come to think of it, using that simile, I don’t know how well iHop is doing these days. Who cares. The association fee by itself at Riva on the River is reason enough to buy. It’s only $220 a month. That’s relatively affordable as compared to the fees for competitive homeowner associations. Why, a few of the larger luxury condos at the Sawyer Residences are rumored to be planning an HOA assessment of nearly $4,000 a month!
This new listing is like a gem, though, unlike probably any other of the luxury condos in West Sacramento. The reason is the sellers bought this condo for cash and have never lived in it year-round. It’s a vacation home. And it looks like nobody has ever lived there. Everything is spotless and so new and shiny and pretty. No chips in the sink or counters. Immaculate condition. It’s like it’s been preserved in a time warp.
The condo is situated with northern orientation. The seller say this positioning keeps it cool in the summer and they rarely run the AC. It also reportedly stays warm in the winter, enough that they usually do not turn on the heat. It is also a first-floor unit and is a single-level, which is in high demand in West Sacramento right now. It features 2 bedrooms and 2 baths. Off the entrance is a formal dining area and a chandelier. The family room features a fireplace, and the kitchen has granite counters, plus a dining bar in addition to space for a breakfast table. One of the other special attributes is the covered patio accessible from the master suite. I’ve seen some owners in the complex grow vines that provide more privacy on the patio.
You’ll also get a two-car garage with an extra storage room, maybe 6-feet by 8-feet for all that stuff that has to go somewhere, you just don’t know where to put it. Pets are allowed by the HOA, and there is a swimming pool and recreation facilities. Plus, the location of the unit is toward the back of the complex, close to the river levee, so traffic is at a minimum in that particular area.
Come check out this complex of luxury condos in West Sacramento at our open house scheduled for Sunday, May 7th, from 1:00 to 4:00 P.M. 1260 Riva Dr, #5, West Sacramento, CA 95691 is offered exclusively by Elizabeth Weintraub at Lyon Real Estate, at $275K. Call Elizabeth Weintraub at 916.233.6759. See the virtual tour here.
