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Lauren Schenke

Your Partner in Real Estate

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

Sold! The Randall Drive Project

I recently was fortunate enough to help some new clients sell their parents home on Randall Drive in Folsom. When I first saw the home, it was in very-original-and-well-loved 1987 condition and needed a facelift. I walked the sellers through two options I saw for this home in this current real estate market…

The first option was an as-is sale, leaving the home in its present condition. This would price the home at Price A. The condition of the home would have limited the pool of buyers primarily investors or buyers interested in a project house. It likely would have had difficulty with financing because of the rear decking.

The second option, if possible financially, was to give the home a facelift. My clients were interested in knowing what I’d suggest so I compiled a list and gathered bids. My suggestions were to update the home with new paint, flooring (carpet/tile), updated fixtures (lights, blinds,etc), update the two bathrooms to remove the brass fixtures, secure and repair the rear deck, remove an eyesore patio cover, remove two dead trees, and do an overall clean up the home. By investing funds up front to update the home, the updates would garner a higher sales price and invite more buyers into the home, potentially creating a multiple offer situation and procurement of a great buyer.

My sellers chose the second option and we went full speed ahead. I facilitated the work on the home over the next few weeks and we procured two strong offers within three days and accepted a full price offer. Buyers and agents were calling up to the date of closing to see if they could write a backup offer. By investing some funds up front, the sellers were able to net approximately 30K more in net proceeds than they would have otherwise earned on the sale of their home. The buyers loved the home and my sellers were thrilled.

I love giving possibilities to my sellers for considerations during the listing process. Sometimes it may be as simple as paring down furniture and strategically placing items around the home to show your home in the best light. Other times it may be a backyard cleanup or quick paint job to show well in photos. I’m here to help and give no-cost options to you and will help facilitate the work by providing a vendor list or help scheduling repairs.

 

Before pics – I unfortunately didn’t take too many!

 

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After pics – the reveal!

1 - exterior - Copy 4 - family - Copy 5 - kitchen 8 - living dining 11 - master 14 - guest bath 17 - exterior

Folsom & Sacramento County – Demand high, inventory low – Tips to Help You Win!

Demand high – inventory low. This is still the problem we are seeing lately for well priced, good condition, good location homes. Inventory is creeping back up as it always does every spring/summer, but it’s still not very high…causing multiple offer situations on many homes currently listed. Most of my buyers have been in competition on their offers with other buyers – from price ranges of all levels.

As a buyer, there are a couple things to consider doing to set yourself apart from other buyers.

On regular homes (not bank owned homes where the seller is a unemotional robot), I often encourage my buyers to write a personal note to the seller. By explaining just exactly WHY you love the home, the seller may give you a preference over other offers because they see that you’ve really thought about the home/neighborhood/school/location/etc! Just recently on my listing in Folsom, my sellers teared up over the buyers’ personal note and fell in love with their letter. My sellers wanted to pass their parents’ home on to a wonderful family, and this letter won them over!

Something else you can do is to show how financially stable you are. If you have an awesome credit score, ask your lender to include it on your approval letter! If you have a solid amount of funds in your bank for your down payment, consider including proof of funds with your offer from the start! Ask your lender to call the listing agent on your behalf – to speak highly of you and your qualifications. All these little things add up to an impressive story.

Contractually speaking, if this is THE house of your dreams, go in strong and don’t mess around. Chances are that the next home of this size or floorplan will use this home as a comp, so don’t skimp on price and nickle and dime the seller from the start. The difference between $5K in mortgage is very little on your monthly payment, so consider going in at full price instead of trying to get a deal. If you lose out on a home because of wanting to get a discount, chances are you’ll lose out to other buyers who want it more. A caveat to that is to make sure the home will appraise – so work with your agent to see how the sales price ranks in comparison to the neighborhood!

Multiple offers can be challenging, but make sure you present yourself as a completely interested, committed, and financially stable buyer. Anything you can do up front will leave you feeling as you did everything you could to fight for that home!

Sacramento Ranks 7th in Top Growing Markets

A recent article on CNN has Trulia’s ranking of fast growing markets and Sacramento ranks #7 of #10. I’ve definitely seen the market pick up over recent weeks as well priced, good condition homes are getting picked up within days or weeks of being listed. The “good condition” tag is key to timing. Homes that need work or have adverse location issues are sitting longer. Buyers are still looking for something that’s clean & move in ready.

Read the CNN article HERE

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