940 Q Street Just Sold!

I have had the great fortune to list and sell many properties in the Saratoga Townhomes. 940 Q Street was the fifth one in the past two years and it gives me a perspective of the values in this little complex. Out of 36 units, only 8 of them are the larger 3 bedroom layouts, and that is what this one is.

It was very well updated and showed great. We were on market for 20 days, got two offers and Mike and Danika ended up selling the house for the full asking price of $289,000. That comes out to $237 per square foot, a great improvement over a year ago in this complex.

There is almost no inventory on the market in the downtown/midtown area right now. If you are thinking about selling, now is a great time to list!

You can see the full listing details on my real estate site.

1326 F Street Just Sold

This downtown home needs some work but that is what my client was looking for. For what this property needs it was well priced. 

It was a short sale and it took several months to get through the process and there were many bumps along the way, but we finally made it!

966 Q Street Downtown Just Sold!

I love my listings in the Saratoga Townhomes. This is a great complex and I have had the honor to list five properties in here in the past two years.

The property at 966 Q Street was wonderfully updated and that is reflected in the price that we were able to get for this great home. We just closed the sale at $257,000 for this two bedroom, one and a half bath townhouse.

The market has definitely heated up, the buyers are out looking for homes and there is very little inventory on the market!

You can see the full details of this great property at my official real estate site here.

966 Q Street is Pending

I am very happy to announce that 966 Q Street is now Pending Sale!

This is a wonderfully updated townhouse in the great Saratoga Townhomes community.

45 days out and we should be closing this transaction...

900 Q Street Just Sold

Well, it sold a few weeks back, but I've been very busy and as usual, my blog suffers when I am spending all my time helping my clients.

It is a great 3 bedroom and 2.5 bath townhouse and I was happy to help the owner make this big transition. 

You can see the full listing here. 

1632 11th Street Just Sold

This is a wonderful condo in the heart of the Downtown/Midtown area that I just sold for my clients. Even though it is only one bedroom, one bathroom and 564 square feet we were able to sell it for $130,000 and have it under contract in less than a week.

Got to love that!

You can see the full details of this property on my real estate site.

1632 11th Street is Pending

Last week we accepted an offer on 1632 11th Street. We are quickly moving towards the completion of the sale of this great downtown Sacramento condo.

See more details on my real estate site.

1632 11th Street Downtown Sacramento New Listing

Fall in love with this fully remodeled and perfectly charming condo. This ground floor unit has a patio off the bedroom and another off the dining area.  The updated tile floors throughout and new appliances, fixtures and lighting makes this home ready to move in.

Live in a great location just two blocks from the State Capital, restaurants, parks and all that downtown has to offer.

Somerset Parkside is a well managed association and the units are owner occupied only. This is a delightful gated community with plenty of green spaces and a pool and spa.

You can see more details about this property on my official site.

SacTown 10 Mile Run in East Sac

On Sunday April 1^st East Sac, Midtown and Downtown will see lots of runners. This is the second annual Credit Union SacTown 10 Mile Run and last year it had 528 runners, and this year it might grow to 1,000.

The race starts and finishes at the State Capitol and East Sac will see them running along McKinley Blvd, Elvas Ave and M Street. Expect streets to be closed off from 8:00 to 10:00am with vehicles being allowed to cross only when there are no runners.

There is a $15,000 purse and proceeds will go to the Children’s Miracle Network.

For more information go to www.sactown10.org

Just Sold – 200 P St #E15

I’ve been working with these buyers for a while looking for the perfect downtown condo. We finally found the one that fit the bill.

You can see more details about this property on my website.

Veterans Day Parade – November 11th

Join the City as we honor our heroes past and present at Sacramento’s Veterans Day Parade on Friday, November 11th. The parade begins at 10 a.m. at Lot "X" at 3rd and N Street and follows a route northward on 3rd Street to Capitol Mall, east on Capitol Mall to 9th Street. It then follows south on 9th Street where the parade will disband. Third Street will be closed from 10 - 10:30 a.m. for the parade start. A program will follow at Capitol Mall at 11 a.m.

The Grand Marshall is the first person to break the sound barrier – General Chuck Yeager himself. There will be entertainment, children’s activities, and educational displays. For parade entry information, call 916.808.2344 or email sacvetparade@cityofsacramento.org.

Monthly Payments of Home Buyers Almost at 1981 Levels?

OK, when I saw this headline I had to read the article.

Monthly Payments for Home Buyers

On October 6, 2011, in Economist Commentaries, by Lawrence Yun, Chief Economist

A home buyer purchasing a typical American home at the prevailing average mortgage rate today would have a mortgage payment of $698 a month. This figure is not much different from what a home buyer would have faced 30 years ago. In 1981, home prices were much lower but mortgage rates were reaching 18 percent. Today, home prices have come down by about 33 percent on average from the bubble years, but prices still remain comfortably higher than those of the 1980s. However, thanks to record low mortgage rates, the monthly payment obligations have been greatly reduced.

After reading the article I still didn’t believe it and had to run the numbers for myself. I decided to take real world numbers, here in Sacramento, on a listing that I currently have in Downtown. I mean, maybe this is true for a home in Columbus GA, but it can’t be true here…

The condo that I have listed at 958 Q Street is listed for $195,000. When it was first built in 1982 the units in it’s complex were selling for $55,000. Back then you had interest rates at 18%. If you did a 3.5% down loan like today’s common FHA loans, factoring in average rates for tax and insurance, your payment would have been $867 per month (not counting HOA or any possible PMI). Today you can get a FHA loan at 4% (one of my buyers just locked at 3.675 with no points!). That makes a payment of $1167 per month or about $290 more today than 30 years ago.

I was feeling pretty smug for about 5 seconds until I started to think about what $867 would have bought me 30 years ago compared to today. Going back to my youth when a quarter bought you a candy bar and now I think they cost a buck, I had to go to an online inflation calculator. $867 from 1981 after adjusted for inflation is $2150 today!

Well, me and my short lived smug self will just have to contemplate these numbers and the buying power of today’s interest rates over a long over due candy bar…

958 Q Street Open House

Held an open house for a great listing of mine at 958 Q St.

There aren't many condos for sale in the downtown/midtown area and even fewer with garages that have direct access into the home.

This is a great complex and this is my second of hopefully many listings in the Saratoga Townhomes...