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Lauren Schenke

Your Partner in Real Estate

Fed Leaves Interest Rates

You lucky duck buyers and re-fi-ers!! Interest rates will continue to be amazingly low as the Fed decides to keep rates where they are. With the remaining leftovers from the Brexit changes still impacting rates, it’s an amazing time to buy or refinance your home. Even if rates go up a quarter, they’ll still be amazing rates!

Link to full article on CNN found here

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Low Inventory Continues…Prices Increase

I read this interesting article on Sac Bee about rising home prices and continued low inventory causing buyers to offer on homes over list price. Many buyers can’t compete as they don’t have the cash to pay the variance if the property appraises below the offer price. I thought this was a great article to show what many buyers are currently up against in the local market here in Sacramento.

There’s ways to make your offer more attractive and I’m here to help. Writing a letter to the seller telling the seller who you are and why you love the home never hurts. Getting fully approved with your lender and having proof of funds is a MUST. Knowing about the current marketplace always helps – and that’s where I come in. I’ll help run some comparable property information and help you determine your starting point for the home. We want to make sure your offer is strong, but realistic at the same time.

I’m here for questions if needed! Have a great day!

For the full article, read more HERE.

 

Local Trends – June Data

Since I’m a numbers geek, I love seeing watching trends of the local real estate market here in Sacramento. I think visuals in the form of graphs and charts are a great way to explain the local market activity I see and experience on a daily basis.

June continued as expected, with rising inventory as we typically see through July. However, inventory is still 15% below where we were at the same time last year, and pending sales are 22% OVER where we were last year in June! Buyers are buying – it’s definitely a seller’s market!

Days on market (DOM) – the number of days it takes for homes to go pending – continues to shrink as buyers actively watch the market and pounce on great homes.

Home values continue to rise as market pressure and low inventory display a classic case of economics … supply and demand. High demand and low supply = an increase in prices.

I’d expect July to continue with increasing inventory, but not end up anywhere close to where we were last year. I think home values will continue to increase for the next month or two, and then flatten out as we enter our “cold” winter season as buyers and sellers head toward hibernation. Yes friends, winter is coming. 🙂

Enjoy the graphs and let me know if you want to chat about the local market!

 

Folsom Wins Again – Best American Suburb

It’s probably every other month that I read an article about how Folsom has been ranked one of the best suburbs….either in California, best for families, etc…and now Folsom has been ranked one of the coolest suburbs in America’s 35 biggest metro areas!

The article talks about how great Sutter Street and Historical Folsom are, but there’s so much more that we have to offer. It’s great living here – there’s so many new restaurants and shops going up every month and it’s fun to see everyone start to take advantage of the great weather. The kayaks and paddle boarders go out on Lake Natoma and the bicycle groups can be found at all times of the day near Folsom Lake.

It’s a great place to live!

Read the full article HERE

Folsom.

Promontory EDH – 511 Bianco Court

Beautiful Promontory home in EDH with fantastic large floorplan. Six rooms plus upstairs loft includes a downstairs office/guestroom with full bath, master plus 3 guest rooms, open loft, AND an oversized bonus room upstairs. Large kitchen with double ovens, granite counters and breakfast bar/nook. Formal dining and living rooms plus casual family room at back of home. Manicured backyard includes two patios, built in BBQ/bar, fire place, and hot tub. One of the best neighborhoods in EDH!

4 bed + office + bonus room (6 possible bedrooms!), 4,097sf – $829K


Why the Bay Area is crazy…

One of my wonderful clients looking for real estate in the Sacramento area sent me an email today regarding her home she once owned in Oakland and sold back in 2011. The home had since relisted this fall and went pending two weeks later, only to close $302K OVER LIST PRICE. You read this correctly, THREE HUNDRED AND TWO THOUSAND dollars over the already high list price of $649K. This 2 bed / 2 bath / 1,592 sqft bungalow in the Oakland hills went for a pretty penny at $951K.

Now I don’t know if it was listed low on purpose to drive a frenzy…and I don’t know what activity went on between multiple offers, etc, but 302K is the price of a small home in the Sacramento valley! When we have multiple offers around here these days, it’s usually the difference of a few thousand dollars and a type of financing that a seller chooses in between…not the variance of a second home that distinguishes one buyer from another. I’m thankful that buyers here in Sacramento/Placer/El Dorado can find affordable homes in great locations without having to  compete with cash in hand millionaires.

The question is whether or not the Bay Area can sustain this madness, and if so…for how long. I’ve had many buyers move up to the Sacramento area to areas like Folsom or Rocklin to be able to afford a nice home in a great area…something they can no longer do in the bay.  I think Sacramento is a great option for real estate and I’m here to help.

oakland

Sold! Husch Way, Rancho Cordova

Just another reminder that when a home is priced right, is in good condition, and photographs well, it sells quickly. Husch Way sold in 8 days for full price! The staging helped the home photograph well, but being priced well was the key.

Homes in this market that are priced too high tend to sit on the market longer. If I can discuss with you the best way to sell your home, or what the current market value is, please let me know!

Happy Holidays and Happy New Year!!

Just Listed! 3592 Husch Way, Rancho Cordova

Welcome to 3592 Husch Way! What a fantastic home. Single story, three bed home with an open kitchen/family room. Large master with soaking tub plus two additional bedrooms. Xeriscape backyard updated with patio cover to provide privacy and shade. Great location near two parks and around the corner from Navigator Elementary School.

1- exterior 2 - exterior 3 - kitchen 4 - kitchen 5 - kitchen 6 - fam 7 - fam 8 - master 9 - master 10 - guest 11 - guest 12 - guest bath 13 - guest bath 14 - laundry 15 - backyard 16 - backyard 17 - park 18 - park

Just Listed! 142 Larkin Circle, Folsom – 4 bed / 2.5 bath / 1,938sf with pool! $425K

Run don’t walk to this four bedroom home with beautiful pool at $425K in Folsom! Master and 3 bedrooms upstairs, half bath down for guests. Beautiful pool with rock waterfall and low maintenance backyard. Great location near historic Folsom and Bidwell shopping. Pest clearance as of August! Quiet location away from busy streets. What a great home – stop by today!

1 - exterior 2 - entry 3 - entry 4 - living room 5 - dining 6 - dining 7 - kitchen 8 - kitchen 9 - kitchen 10 - family 11 - family 12- family 13 - half 14 - master 15 - master 16 - master 17 - master 18 - guest 19 - guest 20 - guest 21- guest 22 - back 23 - back 24 - back

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