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June 2020 Sacramento Housing, Just Another Year Same Old Routine.
June 2020 Sacramento housing, just another year, same old routine. Well, if the Sacramento housing market was a person, she may be saying those things. Since achieving my real estate license and subsequent membership with the Sacramento Association of Realtors in 2012, the Sacramento housing market has outpaced itself every year.
This year has been no different. The Pandemic no doubt affected real estate, but it has been quite the opposite of what everyone was thinking. Well, not the opposite of what the smart, experienced Realtors were saying. Sure, there were and still, are, some price adjustments happening, but look at the numbers below. Numbers never lie.
Let’s do some quick math. What does -17 + 31.4 equal? If you actually did that in your head just now, you deserve a reward. But I will tell you that if you chose 14.4, you are wrong. The answer is $415,000. $415,000 is the new historical record for Sacramento median home price and we reached that with inventory down 17% and new escrows up 31.4% for June 2020. Inventory is also down 37.4% from June 2019 while new listings for June 2020 crept up a measly 1.4%. June 2020 Sacramento housing, just another year same old routine.
June did see a slow down in how long it was taking for homes to go into escrow. We went from 21 days in May to 25 in June. But sellers are still getting 99% of what they are asking, on average. Deals are still being had, but it is seller and property specific. We are on track for another increase in days on the market as we are at 27 days for July so far. July is usually one of the strongest months of the year. It will be very interesting to see what the numbers look like for July 2020 when they come out early August.
If it’s possible, keep your head down but your chin up. Lol. As long as you have a great Realtor team and excellent local lender, you will get a great home. The Weintraub & Wallace Team keeps closing transactions left and right, just another year, the same old routine. If you need a winning team who is passionate about the success they bring to their clients, you are halfway there by just reading this blog.
Reach out to us anytime for all of your real estate needs. Call Weintraub & Wallace Realtors with RE/MAX Gold. We can be reached at 916-233-6759. Another fabulous blog, on the Sacramento housing report, written by our very own fantastic team Realtor, Josh Amolsch!
— Josh Amolsch
Happy Saturday Sacramento
Happy Saturday Sacramento. Real Estate has been extremely busy this October, with 2 new listings this week and many more offers. Even so, we encountered a price reduction for one listing and still held many open houses. We are seeing multiple offers and rural real estate take center stage. It has been a productive Saturday and all of our phones are ringing off the hook, although, not literally, because we have no hooks on which to drop our phones these days.
Our team wishes you a happy Saturday, Sacramento. We hope you will all be out touring open houses tomorrow. An upcoming blog will show the September statistics, so stay tuned.
If you want to sell or buy a property call, Weintraub & Wallace Realtors with RE/MAX Gold. We can be reached at 916-233-6759.
–JaCi Wallace
Check Out This Newer 2014 Home in Hampton Station in South Sacramento
7389 Tisdale Way, Sacramento, CA 95822
Are you looking for a newer home in Hampton Station for sale in south Sacramento? This popular model is more than 2,000 square feet, and was built in 2014. Some of the homes in Hampton Station are near the light rail, but this one is not. No power lines. No train tracks. Close to Edward Kemble Preschool and Edward Kemble Elementary, with Cesar Chavez Intermediate right behind those schools. Many buyers move to Hampton Station because they want a newer home and they like the schools.
A feature you are sure to love are the cherry hardwood floors throughout most of the first level. They are simply beautiful. The flooring matches the cherry wood cabinets in the kitchen. This particular layout offers so much privacy. Much of the home in Hampton Station is sheltered toward the back from any traffic in the street, which makes it very quiet.
You will appreciate the granite counters and black appliances in the kitchen. So much storage. The backsplash features glass tiles in a very pretty pattern. Further, the refrigerator, washer and dryer, although personal items, can remain with the home if you ask for them in the purchase offer.
Further, an added benefit is this home has one of the largest lots in this subdivision. It’s enormous.
All of the four bedrooms are located upstairs, leaving the first level strictly for entertainment and cooking. There is a half bath on the first floor, and a guest bath on the second floor, in addition to a master suite bath. In the master bedroom, you’ll find a sitting area and dual closets. Of course, the laundry is located on the second level so no hauling baskets up and down the stairs for you.
Why not come to our open house on Sunday, February 25th, from 2:00 to 4:00 PM and see this home in Hampton Station for yourself? 7389 Tisdale Way, Sacramento, CA 95822 is offered exclusively by Elizabeth Weintraub and Lyon Real Estate at $345K. You can also view the virtual tour here.
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Stunning South Sacramento Remodeled Home for Sale at $215,000
2163 Vollan Way, Sacramento, CA 95822 is for sale at $215K
Earlier this year I listed another south Sacramento remodeled home for sale that was not far from this new listing. Although I don’t happen to specialize in this neighborhood, it is a lovely area very close to The Pocket, right where Pocket Road merges into Meadowview. The first south Sacramento remodeled home for sale had buyers fighting over it, and I imagine the motivator is the price range. It is very difficult to find an updated home in Sacramento right around the low 200’s. Our median price in Sacramento today is $360,000.
This home is completely fenced, front and back, so it’s very suitable for protecting small children by preventing kids from wandering into the street, and containing dogs. Which makes it great for families and people of all ages. It features laundry in the two-car attached garage. Many of the homes on this street show pride of ownership.
New carpeting throughout and in the living room.
Tile graces the entry and leads you into the living room. Isn’t this a charming room? Plenty of space for your big screen TV — no restrictions on space for that wall! On top of this, the home has 3 big bedrooms and 2 baths; it’s got everything you need, like an artist and you don’t look back.
Kitchen features granite counters and a new gas range.
Dark wood cabinets and granite counters is on every home buyer’s wishlist nowadays, and this home presents both. Plus, check this out, it’s got a brand new gas stove, never been used. Look at that beautiful double stainless sink and matching faucet. Dual pane window and newer cabinets in a luxurious dark-roasted coffee finish.
Covered patio is off the kitchen, with an even bigger back yard around the corner.
The back yard is huge. You’ve got a covered patio for outdoor dining and entertaining that is accessible right off of the kitchen, with a southern exposure. The yard is oriented toward the east and receives the morning sun, cooling off by the evening. Space for gardening rounds out the perimeters of the enclosed fences.
Come to our open house on Sunday, from 1:00 to 4:00, hosted by the amazing Amy McMullan. 2163 Vollan Way, Sacramento, CA 95822 is offered exclusively by Elizabeth Weintraub at Lyon Real Estate at $215K. Psst: haven’t you always wanted to adopt a dog? Now you can have the perfect house for a pet.
Can You Get an FHA Loan on That Sacramento Home?
Many homes in Sacramento can meet guidelines for buyers to get an FHA loan.
Whether you can get an FHA loan on that home in Sacramento depends partly on the financing terms offered in the listing. And that depends on whether the listing was completed correctly by the listing agent. Some agents use templates; they don’t always proofread the documents before obtaining signatures and uploading the information into MLS, so they make mistakes. They might say a home is for sale with FHA terms when it is not or they might eliminate that form of financing when they meant to include it.
On top of this, if you ask the Sacramento listing agent if you can get an FHA loan on that home, some of those agents will undoubtedly not know the answer. If you ask if the listing is correct, the listing agent also might not recall whether she listed it with or without FHA terms. So it can be pointless to ask the listing agent these questions, and you also take a chance that the listing agent might tell you no, absolutely no FHA financing, when that could be a false statement as well. See the dilemma?
For example, take a condo complex in which many of the units are not owner occupied. In other words, the rental units exceed the number of owner-occupied units. That percentage alone is often enough to make the complex not a viable situation for an FHA loan, but that is not always the case. There are some complexes in which a buyer can obtain an exemption and still purchase the home with FHA financing.
The person to ask about that is your mortgage lender. I also know a Wells Fargo loan officer who has recently cleared underwriting with an FHA loan on a condo complex that is mostly occupied by tenants. That complex is not on the FHA approved list, either, so you can’t rely on that list.
If it’s a home that is listed without FHA terms, a buyer might consider whether she is willing to bring the home up to FHA standards in order to write an FHA offer that the seller will accept. Perhaps the home was built prior to 1978 and has peeling paint on the eaves. A buyer can offer to paint the eaves to get an FHA loan, relieving the seller of the liability and hassle, and that offer might go through.
But the one thing you don’t do is write an offer with an FHA loan requirement for a home advertised without those terms by assuring the seller you will take care of any issues and then later refuse to comply. Make sure you know what you are getting into when you initially view the home. If your agent can’t explain FHA repair guidelines to you (some cannot), ask your mortgage lender for assistance. Video record the home, note defects, tally the expenses and be fully informed prior to making an offer.
Be ready for a weird thing to pop up in underwriting because it can happen. But if you want the home, that’s what you do. If you need help buying a home in Sacramento, call the Elizabeth Weintraub Team at 916.233.6759.
