Silicon East Real Estate | Blog

8 Things You’ll Love About Sacramento

Wed, 31 May 2023 23:23:30 GMT

A lot of my clients are from San Francisco and the Bay Area but are now interested in relocating to Sacramento. Whether you’re thinking about cashing out by selling your home in the Bay and living an easier, slower (and more affordable) life in Sacramento or are looking to invest in real estate, Sacramento is a great option! Here are eight reasons why.

1. Parking, Traffic, and Flat Streets

In Sacramento, you won’t have to look for street parking nearly as long, and your daily commute will probably be much shorter (although we still complain about the traffic here). By the way, the streets are mostly flat in Sacramento, which will probably be a welcome change from the Bay!

2. Lower Cost of Living

The cost of living is much lower in Sacramento, a fact you’ll sure enjoy. By current estimates, the average monthly cost of living for a family is only $5,368, compared to approximately a million dollars in the Bay Area (rough math!). In general, the cost of living in the Bay Area is 57% higher than in the capital city of California and making $100k in Sac is like earning $200k+ in San Francisco!

And we’ll talk about home prices in Sacramento down the list.

3. Small Town Feel, But Big City

Sacramento still has all of the amenities and what you want in a big city, but a more laid-back, smaller city vibe, making for a great combination. From parks to pro sports to great healthcare and more, Sacramento checks all the boxes – without being too big, impersonal, or intimidating.

4. Kings and Sports

Sure, we don’t have a pro baseball team in Sacramento. (But isn’t one of yours moving to Las Vegas? Ouch! Too soon?) But we do have a great NBA franchise with a diehard fanbase, a pro soccer team, minor league baseball and hockey, and a whole lot more sporting events!

5. Proximity to Lake Tahoe…and More

Downtown Sacramento is only 104 miles from Lake Tahoe, close proximity for all of those skiers, snowboarders, hikers, and mountain lovers who want to get “up the hill” for a weekend.

And by the way, we’re also just a stone’s throw from the Bay Area or even Napa Valley – bonus!

6. Outdoor Activities

The outdoor fun doesn’t end with Lake Tahoe, as there are endless rivers, lakes, hiking trails, camping spots, and hilly vistas within the Sacramento region or nearby Placer County. For those who like to cycle, run, or just take a relaxing walk, Sacramento features dozens of miles of trails, including the popular Sacramento River Parkway Trail, Yolo Causeway Bike Path, American River Trail, Lake Natoma Trail, and many more!

7. Art, Fairs, Festivals, Concerts

Transplants from the Bay Area definitely won’t be left with nothing on their social calendars, as there’s a myriad of fairs, festivals, concerts in the park, Art Walk Saturdays, and other events to choose from.

Sacramento also has a somewhat-underappreciated restaurant scene, with some countless great venues and eateries, from fancy to food trucks and everything in between – including dazzlingly delicious ethnic food.

And when you do want to get out of town for that quick LA, ‘Vegas, or even Mexico long weekend, Sacramento’s airport is super easy and convenient!

8. Home Prices

We saved the best for last, as the real estate market in Sacramento is way (or way, way, way) more affordable than buying a home in San Francisco or the Bay. With the median home sale value now around $463,828 compared to a median of $1.3 million in San Francisco.

Once you get over the pleasant shock of how favorable the real estate market is in Sacramento, consider also that a million dollars will get you a mansion (literally!) with plenty of property in Sactown, while you’ll have a nice, big, comfy…closet in SF.

Sacramento is also a fantastic place to invest in real estate. With an abundance of universities and colleges, medical centers, conventions and events, and the aforementioned airport, it’s a perfect place to buy a home, condo, or townhouse and Airbnb it. Sacramento also offers a host of duplexes and other multi-family housing units for savvy investors.

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So, when you’re ready to make the move or just invest in real estate in Sacramento, I’d love to show you around and I’m always here to help!

10 Challenges for Sacramento Home Sellers

Wed, 24 May 2023 23:25:30 GMT

If you’ve sold a home in recent years in the Sacramento region, you’ve probably felt like you were in the driver’s seat, with buyers flocking to your listing and lining up to submit an over-offer bid. But that’s not always the case, and sellers have certain challenges and obstacles in more normalized markets.

Even now, in this a-typical market, defined by a listing inventory shortage and high demand BUT higher interest rates, there are certain pitfalls for sellers who do not pay attention (or listen to their Realtor!).

So, no matter if it’s a buyer’s market, a seller’s market, or our current screwball market, I wanted to offer these 10 challenges to navigate while you list your home for sale.

1. Understanding Local Market Conditions:

Before we put a For Sale sign in your front yard, it is crucial to assess our local real estate market conditions. That goes not only for macro trends and the Sacramento region, but your individual area, neighborhood, and even street!

Whether it's a buyer's market, a seller's market, or a balanced market, understanding the trends, what’s selling, and how fast will help you set realistic expectations when determining a pricing strategy.

2. Timing the Sale:

The timing of your home sale can significantly impact its success. Different markets have different peak seasons for selling properties. And remember that you never want to call me to get started with your home sale when you’re ready to sell, but 3-6 months before you’re ready for it to close!

3. Managing Your Emotions:

When it comes to managing huge investments ourselves, we all fall victim to emotions and clouded judgment. Of course, that’s why I’m here to help you as an experienced Realtor. Remember that selling a home is a business decision, and keeping emotions in check can help you make rational choices and navigate the challenges more effectively.

4. Pricing Your Home:

Determining the right price for your property is a science that requires experience and expertise. Overpricing can lead to extended listing periods and deter potential buyers, while underpricing can result in missed opportunities for maximizing your sale price. But don’t worry – my job is to present the most accurate and current market data to show you a realistic range of where your home to be priced.

5. Preparing Your Home for Sale:

There’s still a lot of work to be done before we make your listing live on the MLS and start fielding buyers and offers. The includes a walk-through where I’ll look at your home’s condition and design with a critical eye, letting you know what repairs, minor renovations, cosmetic fixes, or even staging I recommend. Taking these steps will vastly increase the perceived value of your home with buyers, optimizing your chances or putting as much money in your pocket as possible!

6. Maintaining A "Show-Ready" Home:

It’s not enough to repair and fix up your home before listing, but you should maintain it in “show-ready” condition throughout the home sale proves. So, start de-cluttering, de-personalizing, clean out closets and things you don’t need for storage, and make sure that your pets (or their hair/odors etc.) aren’t turning off potential buyers.

7. Negotiations:

Every single home sale entails some level negotiations (or you’re not doing it right!). We may receive low-ball offers, strange requests, and even last-minute conditions along the way, but rest assured that my job is to guide you through those negotiations, communicating productively with the buyer’s Realtor and ensuring you have the best possible outcome – and the most money in your pocket.

8. Navigating Inspections:

Buyers will conduct various inspections as part of the due diligence process., most notably the home inspection These inspections can uncover issues that may impact the sale and the final price. By considering a pre-listing inspection, you can identify and address potential problems proactively, minimizing surprises and increasing the chances of a smooth transaction.

9. Satisfying Bank Appraisals:

Even if you list your home for sale at a “pie in the sky” price and some billionaire falls from the sky and wants to pay that price, the bank will still need to sign off (as long as that billionaire needs a home loan!). That means an appraisal where a neutral third-party professional needs to certify that the value is there to justify that price.

10. Choosing the Right Realtor – Rico Rivera!

For many of us, selling a home will be the biggest financial decision of our lives. It should also be the most lucrative!

So, don’t leave your home sale to chance or rely on inexperienced or part-time agents. Instead, Rico River is a local expert in the Sacramento market with decades of real estate experience and an impeccable reputation in the industry.

Contact Rico if you have questions about selling or just would like to know what your home is worth in today’s market!

Does It Make (Dollars &) Sense to Fix Up Your Home Before Selling?

Tue, 16 May 2023 22:52:51 GMT

Let’s be real - when it comes to selling your home, every single homeowner has one main goal: to end up with as much money in their pocket as possible.

And I completely understand, as a home is possibly the largest investment you’ll ever make for your family, and maximizing returns is what investing is all about!

So, when coaching homeowners before the sale, I often get questions about what items they should fix, repair, or improve before listing their property.

It’s a great question, as the last thing you want to do is invest thousands of dollars into a home repair (and deal with a lot of time, mess, hassle, etc.) only to not recoup that money once buyers start writing offers.

But the good news is that the right fixes and improvements can significantly enhance your home’s value. Don’t forget that an increase in value may show up in two ways: by being far more attractive to buyers (bringing in more people, showings, offers, etc.) and, of course, a higher purchase price that lands more money in your pocket.

So, which home improvements will actually yield the best results for sellers?

We can turn to data from the 2022 Remodeling Impact Report released by the National Association of Realtors, which outlines the cost recovery for popular interior remodeling projects:

147% Refinishing Hardwood Floors

118% Installing New Wood Flooring

100% Upgrading Insulation

86% Converting Basement to A Living Area

83% Renovating Closets

75% Converting Attic to Living Area

71% Bathroom Renovation

67% Kitchen Upgrade

63% Adding A New Bathroom

56% Add New Bedroom Suite

But remember that those projects are just inside your home and entail spending big bucks in hopes for a huge return. That’s a huge risk to take, especially when it also involves weeks or months to finish the work, a huge cost upfront, and hopes that the market doesn’t change or decline.

Most homeowners may not need (or want) some of those big repairs or improvements, so what are some smaller (and less expensive) fixes that can boost your ROI when selling?

1. Curb Appeal:

First impressions matter and improving your home's curb appeal can make a substantial difference. According to the National Association of Realtors (NAR), landscaping improvements yield an average ROI of 100-200%. Enhance your home's exterior by ensuring a well-maintained lawn, fresh paint, clean windows, and a welcoming entryway.

2. Bathroom Updates:

Buyers pay close attention to bathrooms, so it's crucial to ensure they are in good condition. And you don’t always need to do a major overhaul - simple updates, such as regrouting tiles, replacing fixtures, and adding fresh caulking, can go a long way. Bathroom remodels typically provide an ROI of 70-80%.

3. Energy-Efficient Improvements:

Energy efficiency is increasingly important to homebuyers. Consider upgrading insulation, replacing old windows with energy-efficient ones, and installing programmable thermostats. These improvements not only reduce energy costs but also provide a competitive advantage, with an ROI ranging from 50-70%.

4. Minor Interior Renovations:

Minor interior renovations can freshen up your home's appearance without breaking the bank. Focus on painting walls with neutral colors, replacing worn-out flooring, and updating light fixtures. These updates have a high ROI, typically ranging from 50-70%.

5. Smart Home Technology:

Investing in smart home technology can give your property a modern edge. Consider installing smart thermostats, security systems, and lighting controls. These upgrades offer convenience and can attract tech-savvy buyers, with an ROI of around 50%.

6. Exterior Improvements:

Alongside curb appeal, exterior improvements such as deck additions, patio upgrades, and the addition of outdoor living spaces can increase your home's value. These improvements have an ROI of approximately 50-60%, providing buyers with additional usable square footage.

Trying installing a hanging/swing seat on your front porch or back patio and watch the offers come in!

7. Cosmetic Enhancements:

Do not overlook the power of small cosmetic enhancements. Simple fixes, such as replacing outdated hardware, refreshing paint, or upgrading lighting fixtures, can give your home a polished look. These improvements are cost-effective and can provide an ROI of 40-50%.

8. Home Staging:

Finally, invest in professional home staging to showcase your property's best features and create an appealing ambiance. Staged homes tend to sell faster and at higher prices, with an average ROI of 200-300%.

While this is a general guide, please remember that not all homes or situations are the same. Your neighborhood, price level, competition, timing, etc. will all impact what you should or shouldn’t fix up around the house to maximize profit.

So, give me a call when you’re thinking about selling so we can walk through and come up with the best strategy, or if you’d just like to know what your home is worth in today’s market!

Growing Latino & Hispanic Homeownership Will Continue to Impact Our Market

Thu, 11 May 2023 00:50:12 GMT

As a Realtor in Northern California, it’s my job to understand not only current market conditions but rising demographic and economic trends that will affect our housing market long-term.

So, today I wanted to talk about the rise of Hispanic and Latino homeowners and how that trend will continue to evolve in Sacramento, NorCal, and the nation.

While the Hispanic and Latino population is growing rapidly, their interest in homeownership is growing even faster. In fact, according to the National Association of Hispanic Real Estate Professionals (NAHREP), Hispanic homeownership rates have been rising faster than any other demographic group over the last decade.

In 2022 alone, 349,000 homes were purchased by Hispanic owners, which increased their homeownership rate to a record-high 48.6 percent, benefiting from eight straight years of growth.

Latinos are also utilizing FHA loans and traditional mortgages more than ever, fully embracing all of the lending options available to them. In fact, Latino use of mortgages when buying a home has increased by 42 percent since just 2018.

One of the primary reasons for this trend is that Latinos place a high value on homeownership as a means of building wealth and establishing roots in their communities. In a recent survey by NAHREP, 87% of Hispanic respondents said that owning a home is a good way to build wealth, and 91% said that homeownership is part of achieving the American Dream.

Owning a home provides a sense of stability, community, and putting down roots. That’s particularly important for Hispanics, who are more likely to live in multigenerational households and place a high value on family and community participation. In fact, Hispanic buyers purchase multi-unit properties (like duplexes, etc.) at a higher pace than other buyers.

There’s also huge buying power among the Hispanic population in the U.S., with higher participation in the workforce than any other racial or ethnic group and an emphasis on upward mobility. In fact, one in five Latinos is currently now in college, university, or trade school, a fact that empowers homeownership.

According to the Federal Reserve, the median net worth of Hispanic homeowners is almost six times higher than that of Hispanic renters. This is because homeownership provides an opportunity to build equity, which can be used to pay for education, start a business, or retire comfortably.

Latino and Hispanic homeownership also favors younger buyers. Data points to the trend of younger homeowners from that demographic as compared to all racial groups.

According to the Urban Institute, Hispanic homeownership rates are projected to continue to grow over the next decade, with the greatest homeownership increases expected among younger generations of Latinos. Between 2020 and 2040, 70 percent of the homeownership growth from minority households is expected to come from Latinos homeowners, a vast majority.

But there are still obstacles and challenges to homeownership among that demographic.

One of the biggest obstacles is access to credit. Hispanics are more likely to have lower credit scores and be turned down for mortgages compared to other groups.

Another obstacle is the lack of affordable housing options in many areas. Hispanic households are more likely to be cost-burdened, meaning that they spend more than 30% of their income on housing expenses. This can make it difficult to save for a down payment and qualify for a mortgage.

Finally, there is a lack of education and outreach on the part of real estate professionals and lenders when it comes to serving Hispanic clients. Many Hispanics may not be familiar with the home-buying process or the available financing options, which can make it difficult to navigate the system.

Yet despite these challenges, unprecedented opportunities for growth and wealth generation abound among U.S. Latinos and Hispanics, which will continue to strengthen their contributions to the very fabric of America.

As a Latino myself, I’m passionate about helping others achieve the dream of homeownership as well as making wise financial decisions when selling. So, contact me if you have any questions about buying or selling in Sacramento or just need more advice.

5 Reasons to Sell Your Home Right Now

Tue, 02 May 2023 19:19:44 GMT

To sell or not to sell, that is the question.

Homeowners have a critical choice this summer and the remainder of 2023, as they’re faced with a series of unprecedented market and economic conditions.

From non-ideal mortgage rates to low supply and the possibility of a looming recession, there is no perfect roadmap for where the housing market may go next. But one thing is for sure: Sacramento homeowners are sitting on record equity after nearly a decade of hot home price growth, and they’re wise to think about listing it for sale to cash in.

So, here are 5 considerations when thinking about selling this summer:

1. Equity

Like we mentioned, homeowners are sitting on a mountain of equity. Especially in Sacramento, we’re seeing record value in our homes above what we owe. Even if you bought just a few years ago, you’re probably sitting pretty.

However, prices have dropped in 2023 and there is the possibility that they’ll drop more. The market is already trending in that direction and that could especially be true if we face greater economic troubles.

So, how can you cash in?

Sell! And if it’s your personal residence, you have some amazing tax benefits to selling and pocketing a bundle, too!

2. Seasonal Uptick

Most years, there’s an uptick in busy buyers, sales volume, and motivated sellers around the spring, summer, and early fall. And even though this market is a unicorn of sorts, we’re seeing that seasonal uptick now.

So, the overall trend may be that prices are dropping and the market has cooled, but you may have a small window to sell your home this summer or during 2023 and maximize profits.

3. Low Inventory

When people talk about this housing market, they often mention mortgage rates first. However, there’s probably another factor that’s dominating our housing conditions even more: low inventory.

In fact, the number of available homes for sale is just about at all-time lows, and that shortage is even more profound among modest home prices in Sacramento.

So, conditions are perfect for homeowners to list their home for sale and cash in. But wait too long and that may change in a big way. Once homeowners realize that values are dropping, equity is dwindling, AND the economy is turning for the worse, there will be a huge wave of people who want to (and need to) sell their homes.

That means more competition – and probably lower prices – for you.

4. Strong Demand

While supply may be paltry, supply is still strong – particularly in the Sacramento region. The city continues to grow by leaps and bounds, more and more people are moving to the capital of California, and even Bay Area investors and buyers abound.

Based on the typical household income in Sacramento, there’s even more of a pressing need in the modest price range of under $500k or so.

Add to that trend the huge number of potential buyers who put their plans on hold because of Covid and/or need to buy again because of post-Covid lifestyle (like returning to the office), and there’s still a very strong demand among buyers, despite lukewarm mortgage rates.

5. The Economy

Homeowners may be in a great position, but our overall economy may bet teetering on a cliff. Economists predict a recession in 2023 or 2024, which could range anywhere from mild and short-term to catastrophic and lasting years.

Looking at job losses, a massive wave of maxed out credit cards, banking failures and more should be enough to scare homeowners into selling now out of security – cashing in their sizable profits before it’s too late.

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So, if you bought a home a few years ago and have been quietly pondering if it’s a good time to sell or not, please take a hard look at these factors before making your decision.

And the easiest way to get some sound advice is just to contact us for a detailed market analysis to determine what your home is worth and pencil out what a home sale (and subsequent purchase) would look like!

Top Concerns When It Comes to Buying a Home

Tue, 25 Apr 2023 17:20:21 GMT

There’s no doubt that the market is showing early signs of shifting, with buyers poking their heads out after a mortgage-rate driven hibernation and sellers looking to cash in on record equity this spring and summer.

But that doesn’t mean house hunters are without serious reservations, some of them warranted and some just based on perception or misinformation.

To that point, I saw a poll recently from a national real estate website that uncovered the top consumer concerns when it comes to buying a home these days.

To start with, consider that 10% of those polled had no major concerns. (Super, give me a call immediately and we can go out house hunting!) Also, 5% had “Other” concerns, like if the back porch was big enough for a jacuzzi and if the neighbors would blast music at 3am.

In order of least prevalent to most, here are the remaining top homebuyer concerns in this market:

These are merely passing reservations:

3% The homebuying process is confusing or discouraging.
3% I’m worried about my job security or the economy.
3% I’m afraid that I might have trouble getting a home loan.

Now, we get into the slightly more pressing concerns:

5% Mortgage rates might go up again before I get the chance to buy!
6% I might not have enough money saved for a down payment.
8% I need to sell my home first before I can buy!

Next up are the real serious issues, with more than 1 in 10 potential buyers reporting these concerns:

14% Lack of inventory – there aren’t enough homes to choose from.
17% There’s too much competition from other buyers – I don’t want to get into a bidding war!

And finally, the single most reported concern in this poll of homebuyers, with almost 3 in 10 having this challenge:

27% I have concerns around affordability – home prices and mortgage rates are either too high or may be on the rise.

Do you want to buy but have some of these concerns, too?

I’m talking to a whole lot of current homeowners who are sitting on a treasure chest of equity after years and years of a hot housing market. They realize that now is the time to sell and cash in, but they have some reservations about being a buyer in this market, too.

But I assure you that no matter what trepidation or concern you’re feeling, the best thing to do is to sit down and go through it together, talking facts and stats – not general fears.

Together with a great mortgage lender (I can recommend a few) we can pencil out the different scenarios of selling your home, what proceeds you’ll pocket, and what the home purchase may look like.

I think you’ll find that, while legitimate, most of these concerns are merely hurdles – not stop signs – on the way to buying a home and making the best financial decision of your life!

A Look at Sacramento’s Housing Inventory Shortage (And What That Means for You!)

Fri, 21 Apr 2023 00:21:56 GMT

Right now, Sacramento’s housing market is seeing somewhat of a revival, far earlier than recession forecasters and market crash doomsayers could even imagine.

Just like our beloved Sacramento Kings, the upstart Sactown housing market is upsetting expectations.

Despite mortgage rates that nearly doubled from early 2022 to 2023 (but seriously, rates are pretty good again!), the national narrative of a housing market meltdown with huge price reductions just hasn’t come to fruition in California’s capital city.

In fact, we’re starting to see early signs of a market rebound, with far more competition among buyers, multiple offers (on listings priced correctly), and even bidding wars once again!

There’s one huge reason for the relative health of our market – inventory. Or, more accurately, a lack of housing inventory. In fact, the supply of homes for sale is now down to one month or less, an unparalleled shortage of available listings.

That – more than prices and mortgage rates – dictates the health and positivity of a housing market in the long-term, so today I wanted to touch on seven factors that are contributing to our historic housing shortage.

1. Paltry New Home Construction

For several years, new home builders didn’t focus on residential projects in the Sacramento region, or chose to build apartments and other commercial units, not residential homes.

2. Rapidly G rowing Region

Sacramento has seen positive population growth in large numbers, with more and more people choosing to move to the capital city of California for its stable, diverse economy, wonderful quality of life, and lower cost of living. More people mean more housing demand!

3. High H ousing Demand!

As the seat of California’s government and home to plenty of universities and new businesses, Sacramento is enjoying somewhat of a renaissance. Many people who move to our city want to buy (and have the funds to do so), which increases demand.

4. Bay Area B uyers are Flocking

Whether they’re looking to invest in rentals, move to Sacramento and plant roots, or do some sort of hybrid commute, there are still plenty of buyers from the Bay Area that are gobbling up new listings, decreasing inventory.

5. We still have P ent-Up Demand from Covid

We’re hearing less and less about Covid these days (thank goodness!) but one lingering effect is what it did to our housing market. There are still plenty of buyers who were working from home, didn’t want to buy or sell during Covid, etc. who are now ready to get out there and purchase a home, built-up demand has depleted our listing inventory even more!

6. There are P lenty of Mortgage Rate Refugees

I coined the term “mortgage rate refugees” to describe all of those people who would LOVE to sell their home (and cash in on record equity), but they don’t want to jeopardize their low mortgage rate. While it’s tempting to hold onto that great rate in the low to mid 2’s, these folks should be in the game – not on the sidelines, which will only add much-needed inventory to our housing market.

7. People are R eluctant to Move

And our final reason why inventory is so low is closely related to that last point. There are plenty of people I talk to who are eager to sell and make a big profit after years of hot home appreciation, but they’re reluctant to do so because they’re worried about what home they can buy next.

The “But where will we move next?” homeowners who normally would be racing to list their homes are only dropping our inventory levels even more.

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So, what does this mean for you? If you’re a homeowner right now, I highly recommend you contact me to talk about your options. Listing your home for sale this spring or summer in Sacramento means you have a HUGE competitive advantage – the stark lack of listing inventory.

Smart sellers can cash-in on record equity (before it starts disappearing), create a buzz and even bidding war, and have PLENTY of means to buy their dream home in today’s market.

Contact me for more information or to see what your house is worth today!

Are We at The Starting Line of Another Hot Real Estate Market?

Fri, 14 Apr 2023 21:29:28 GMT

“Gentleman (and ladies), start your engines! Three-Two-One…GO!”

That may sound like the start of every Indy 500 or NASCAR race, but it also rings true for the Sacramento housing market this spring.

After a pronounced slowdown and 45% lower sales volume due to elevated interest rates, mortgage rates are starting to come down and buyers and sellers are getting active again.

In Sacramento, we’re already seeing far more buyers, more new listings, and even multiple offers and bidding wars again!

Of course, I’m making a comparison to what our hibernating housing market has looked like for the past six months or so – not trying to say it’s back to early 2022 (ludicrously hot) levels.

But it does feel like we’re at the starting line of another hot real estate market for the spring and summer!

Here are a few reasons why now may be the BEST time to get a head start on the competition and list your home for sale or go out house hunting right now:

1. Rates are Dropping

After experiencing one of the sharpest climbs for mortgage rates in history, rates for home loans have actually changed course and declined steadily over the last month or two. Rates may not be at all-time lows, but they are way below historical averages and a lot closer to the 5’s than the 7’s right now.

2. The Seasonal Uptick

Every spring and summer, the housing market sees an uptick in activity – and sometimes profoundly so. As the weather is warmer, days are longer, and the kids are out of school (or close to it), everyone is far more eager to buy or sell, and this year looks to be no different.

3. The Market has Absorbed Fed Rate Increases

Mortgage rate increases were in large part due to the Fed’s campaign to raise their benchmark rate in an effort to combat inflation. Now, inflation looks like it has just about peaked, and the Fed is ready to pause rate hikes. But the good news is that the market and mortgage landscape has already absorbed the risk and reality of higher rates early on, so we’ll probably see mortgage rates keep dropping!

4. Home Prices have Come Back Down to Earth

Let me put it this way – those who are waiting for the market to “crash” so they can pick up a home on the cheap will be waiting (and still renting) forever. But those who are looking for a 5-10% discount (or even more) on home prices compared to the peak last year are in luck this spring and summer. But be warned that continuing to wait means that you’ll probably miss out!

5. Supply vs Demand

While many are focusing on mortgage rates or home prices, the real narrative of this housing market is the lack of inventory. In fact, housing supply is at scary-low levels, especially in Sacramento and other parts of CA.

With strong and pent-up demand from homebuyers, the number of people eager to buy simply far outweighs the number of homes for sale – a recipe for a warming market.

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These are just 5 of the reasons we’re at the starting line of another hot housing market in Sacramento – and why you should call me about listing your home for top-dollar today!

10 Factors That Can Increase Your Home’s Value

Wed, 05 Apr 2023 19:45:34 GMT

As a homeowner, you want to ensure that your castle is not only a comfortable and safe space for your family, but the best investment you’ve ever made.

The good news is that whether you're planning to sell in the future or just want to one-up your neighbor, there are certain factors that can increase your home's value.

Today, I’ll break down some of the key factors for you today, and you can read about the factors to actually avoid – that will sink your home’s value – in our past blog here.

https://www.siliconeastrealestate.com/10-things-in-the-neighborhood-that-will-sink-your-homes-value

Here are 10 factors that can increase a home's value, backed by some relevant statistics:

1. Location, Location, and Location!

Homes located in desirable neighborhoods with good schools and low crime rates will always be more valuable. According to Zillow, homes in the top-rated school districts sell for an average of 49% more than those in lower-rated districts!

Furthermore, proximity to amenities like shopping, restaurants, and entertainment usually add more valuable.

2. Size and Layout:

Larger homes with more bedrooms and bathrooms generally command higher prices. According to HomeAdvisor, each additional bedroom can increase a home's value by 4-5%, while each additional bathroom can add 20%. If you grew up in a big family with only one bathroom, you know this is true!

3. Upgrades and Renovations:

Homes that have been upgraded or renovated, particularly in high-traffic areas like kitchens and bathrooms, can increase in value. According to Remodeling Magazine, a minor kitchen remodel can have a return on investment of over 70%, while a major kitchen remodel can have an ROI of nearly 60%.

4. Curb Appeal:

A well-maintained and attractive exterior can increase a home's value. So, this weekend, plant those flowers, trim those bushes, and paint that front door! According to a study by the National Association of Realtors, homes with good curb appeal sell for an average of 7% more than similar homes without it. That’s a huge bump!

5. Energy Efficiency:

Homes that are energy-efficient, with features like double-paned windows, insulation, and energy-efficient appliances, can raise your appraised value. According to the National Association of Home Builders, buyers are willing to pay an average of $8,728 more for a home that saves $1,000 a year on energy costs!

6. Outdoor Living Spaces:

When the weather is good in Sacramento (and the allergies not too bad), there’s nothing better than taking the family outside to enjoy your yard or patio. Homes with outdoor living spaces like decks, patios, and porches can add up to 12% to a home's value if they’re done right.

7. Plenty of Storage:

There’s nothing worse than running out of closet space or having an overly cluttered garage. Homes with ample storage, including closets, pantries, and garages, can be more valuable. According to a survey by the National Association of Home Builders, 92% of buyers want a laundry room, 86% want a walk-in pantry, and 80% want a garage. (And most guys want a three-car garage!)

8. Smart Home Technology:

These days, smart homes are very desirable with buyers. According to one recent survey, 81% of buyers are more likely to buy a home with smart home technology. So, houses equipped with smart home technology like thermostats, security systems, and lighting, can be more valuable.

9. Historical or Architectural Significance:

Homes with historical or architectural significance, like those in historic districts of downtown Sacramento, can be more valuable. According to a study by the National Trust for Historic Preservation, homes in historic districts appreciate an average of 5% more per year than those outside them.

10. Great Views:

Homes with desirable views, like those of the ocean (ok, or river in Sactown!), mountains, or city skyline can be more valuable. According to a study by Redfin, homes with water views sell for an average of 78% more than those without them.

These factors are a general guide, but every home, every neighborhood, and every housing market is different.

For instance, over-improving – like adding a 2,000 square foot addition when all other homes in your neighborhood are only 1,200 square feet – can actually drop your value, comparatively.

So, before you swing a hammer or start spending your hard-earned dollars, please give me a call.

We can talk about your home and see what factors may be appropriate to add or change, and how that will increase your sale’s price.

And when it’s time to buy a home, of course I’ll make sure to look out for you!

Your Essential Home Maintenance Seasonal Checklist

Thu, 30 Mar 2023 01:48:33 GMT

I remember when I bought my very first home, a little 1950s two-bedroom fixer in the Arden area.

I closed and got my keys on a Friday and had ambitious plans for the first weekend in the property. My To Do list included redoing the hardwood floors, repainting the bedrooms, changing out the toilets and one sink, and starting to clean out the garage.

Of course, I took on WAY too much, was completely overwhelmed, and made it as far as Home Depot before collapsing from exhaustion by Saturday morning.

And that ambitious To Do list? It only took me six months or so to complete – not one weekend.

So, if you recently bought a home – maybe for the very first time – you may have a long To Do list for improvements and maintenance, too.

I certainly respect anyone who wants to roll up their sleeves and become a DIY weekend warrior (and save money). But I highly recommend you get organized and start with essential maintenance, working your way to bigger, more fun projects from there.

So, no matter if you just bought your first home or moved up to your dream home after many decades as a homeowner, this home maintenance checklist by season will help:

Spring

Spring is the perfect time to get outside in the Sacramento area, check for any damage from heavy rains, and take care of your home's maintenance needs. Here are some tasks to consider:

Inspect Your Roof: Check your roof for any damage caused by winter storms or harsh weather. Look for missing or damaged shingles, cracks in flashing or gutters, or leaks.
Clean Gutters and Downspouts: Clean out any debris that accumulated in the gutters over the winter to ensure proper drainage.
Service your HVAC System: Hire a professional to inspect and service your HVAC system before the summer heat arrives. This is huge since your AC will always break down during the hottest period of the summer!
Check Windows and Doors: Look for any gaps or cracks around windows and doors and repair them as needed to ensure energy efficiency.
Fertilize your Lawn: Fertilize your lawn to promote healthy growth and prevent weeds.

Summer

Summer brings plenty of sunshine and heat in Sactown, so here are some maintenance items to consider:

Check for Pests: Inspect your home for pests such as ants, termites, and rodents. Address any infestations promptly.
Inspect and Clean Outdoor Appliances: Clean and inspect outdoor appliances such as grills and air conditioning units to make sure they're functioning properly.
Clean and Seal your Deck or Patio: Clean and seal your deck or patio to prevent damage and keep it looking its best.
Check your Irrigation System: Inspect your irrigation system for leaks and make any necessary repairs.
Clean your Windows: Clean your windows inside and out for clear views and improved energy efficiency.

Fall

Fall is actually my favorite time in NorCal, and it’s also the time to prepare your home for winter. Here are some tasks to consider:

Check for Drafts: Inspect your home for drafts and seal any gaps or cracks around windows and doors.
Clean and Store Outdoor Furniture: Clean and store outdoor furniture to prevent damage from the winter weather.
Inspect your Chimney: Hire a professional to inspect your chimney and clean it if necessary to prevent fire hazards.
Service your Heating System: Hire a professional to inspect and service your heating system before the cold weather arrives.
Clean Gutters and Downspouts: Clean out any debris that's accumulated in the gutters to ensure proper drainage.

Winter

Plenty of rain and the rare freezing temps can be harsh on your home, but with the right maintenance, you can keep it in top shape. Here are some tasks to consider:

Check your Roof for missing shingles, gutters, and rain flow. Actually go out and look when it's raining heavily to see if you spot any potential leaks on the roof or pooling water near your foundation.
Look for Tree Branches that may be old, damaged, ready to fall, and too close to power lines, your roof, or the driveway.
Insulate your Pipes: If you’re further up in the hills, you may get a few freezing mornings. So, insulate your pipes to prevent them from freezing and bursting.
Check your Smoke Detectors: Test your smoke detectors and replace batteries if necessary to ensure they are functioning properly.
Check for Drafts: Inspect your home for drafts and seal any gaps or cracks around windows and doors.

Keeping up with your home’s maintenance needs can be overwhelming, but by organizing your tasks by season, you can make the process more manageable.

Use this guide to ensure your home is always in top shape and ready for whatever weather or problems come your way!

20 Reasons Homeowners Sell

Wed, 22 Mar 2023 22:17:07 GMT

When will you sell your home?

Notice that I didn’t ask if you’ll sell your house, but when. That’s because it’s just about inevitable that homeowners will put a sign in their front yard and list their home for sale at least once in their life.

In fact, according to the U.S. Census Bureau, the average American will move 11.7 times in their life. And the National Association of Realtors cites that the typical U.S. homeowners sells their home every nine years.

In California, I’d venture to guess that homeowners sell even more frequently!

Don’t believe me? Selling a home isn’t always strictly a financial decision, but based on an endless array of lifestyle factors, events, and circumstances.

There are myriad reasons why people decide to pick up and move, including this quick list that I came up with (and many more):

1. Starting a Family

When a couple becomes a family, it’s time to sell the house and buy a bigger one with room for everyone to grow!

2. Job Transfer

Relocation because of a job opportunity is one of the top reasons for selling.

3. Downsizing

Sometimes, people just have way too much home and get tired of cleaning that 5 ^th bedroom that’s never been used!

4. Retirement

Once you’ve officially retired and are ready to fish/golf/volunteer/spend time with family, it’s also a good time to sell!

5. Bad Neighborhood

Uh oh, there goes the neighborhood. If a toxic waste dump/sinkhole/strip club pops up on your street, it may be time to sell.

6. Bad Neighbors

When the neighbors start blasting music until three AM every single night and there’s no resolution, it may be easier to put a sign in the front yard and get the heck out!

7. Getting Married (and Selling Individual Homes)

When two becomes one, people often sell their homes that they’ve owned individually and opt for that new house together.

8. Divorce or Separation

Then again, things don’t always work out, unfortunately. So, they sometimes have to sell that new house and move back into two individual homes.

9. Health Issues

Sadly, people may have medical or health concerns that lead them to list their home for sale.

10. Change in Lifestyle

Want to drop out of society, hit the road to live in your van, and become a minimalist? It all starts with selling your home!

11. Landlords Cashing in

If you’ve made great money every month in rent and have seen your home triple in value, why not sell and enjoy the fruits of your labor?

12. Landlords Fed Up!

They say that landlords eventually sell because of the four T’s – taxes, termites, toilets and tenants!

13. Financial Difficulties

Too much debt, bankruptcy, job loss, etc. – all sorts of financial difficulties can lead to sellers calling me ASAP.

14. Home Too Small/Looking for Home with More Amenities

A lot of move-up buyers just want a bigger home or one that features a pool, near a park, a better school system, etc., so they have to sell first.

15. Made a Mistake

A whole lot of homebuyers have regrets (especially first-time buyers), and one way to make amends is to sell your mistake/home!

16. Moving Up

The classic reason for selling your home is because it’s accrued plenty of equity so now it’s time to cash out and buy that bigger, nicer dream home!

17. Deferred Maintenance

Roof leaking? AC on the fritz? Foundation problems? It may be easier to sell and buy a newer home than deal with all of those huge maintenance projects.

18. Cash In On Equity

Let’s be real – sometimes it’s just a great financial decision to sell and pocket all of that equity you’ve accrued over the years.

19. Move Closer to Family

A lot of homeowners make the decision to move much closer to family to enhance their quality of life. Then again, some people move further away from family for the same reason!

20. Empty Nest

Going full circle, when the kids are all grown and leave the house, it’s time to sell and start the next chapter in your life.

So, when is the next time you’ll decide to sell your home?

Let’s talk about it so we can maximize your profits and make it as smooth a sale as possible!

Accessory Dwelling Units (ADUs) – A Golden Opportunity for CA Homeowners & Investors

Wed, 15 Mar 2023 20:49:42 GMT

In our world with ever-rising costs, what if I told you that you could add a great investment right in your own backyard (literally) that offers a significant monthly net profit from day one and will add greatly to your home’s value down the road?

Furthermore, this opportunity would be available for existing homeowners, home buyers who want to help pad the cost of their mortgage, and even those who want family closer to home.

Even better, the state of California and your local government wants you to take advantage of this investment, so they offer grants, down payment assistance, easy financing, and huge tax breaks.

Sounds too good to pass up, right?

We’re talking about ADUs, of course, or Accessory Dwelling Units, and all of that is true (and more, offering golden opportunities to CA homeowners, buyers, and investors.

You may know Accessory Dwelling Units by other names, including granny flats, cottages, conversions, secondary units, in-law quarters, and more.

ADUs have grown exponentially in popularity lately for several reasons:

People increasingly want to have senior parents, grandparents, or multiple generations of families living in-house (or on the same property).

With elevated home prices and higher interest rates, buyers these days are facing a housing affordability crunch. Likewise, renters are seeing prices go up, so ADUs help alleviate both of those financial concerns.

California is facing a stark housing shortage, with sky-high unemployment and a shortfall of an estimated four million units. The government is trying to fill that gap in many ways, including promoting (and rewarding) private individuals who want to add an ADU.

An ADU is just a fully-functioning, self-sustaining, livable space on your property. So, you can either build a new out-building (and there are great ADU builders, kits, and modules these days), convert an existing out-building, or convert a current space in your home, such as a garage or basement, into an ADU.

You’ll find that ADUs are extremely affordable based on the rent they can bring back and/or the value increase to your property.

They offer huge flexibility for families, first-time buyers, and especially investors.

Let’s take a look at some of the economic nuts and bolts of ADUs:

According to recent national studies, here are the average financial benefits of an ADU:

Average DU monthly rent: $1,622

Yearly profit: $10,356

Monthly net profit: $863

(Almost a grand a month in profit AFTER your loan and costs – not bad at all!)

Remember that these numbers for rent, income, etc. are based on national averages. But rents (and investor profits) are typically much higher in California, so the benefit may be much larger in CA.

Now, let’s break down the average financing for ADUs:

Average monthly payment: $759

(Based on a 5.5% rate over 120 months – 10 years – repayment)

Average project cost to build or adapt: $70,000

Down payment: $5,000

I’m no mortgage lender and not affiliated in any way with ADU financing companies, so I can’t speak to those rates. But no matter what today’s rate is, remember that this is based on a 10-year full loan repayment, not 30 years.

So, within one decade or less you’ll own the ADU free and clear and be loan free.

At that point, your monthly net profit will explode as you’ll no longer have a $759 monthly payment (based on our national average data) AND ostensibly rents will have gone way up!

But I do know that CalHFA is offering a grant program specifically for ADUs, offering up to $40,000 assistance that reimburses homeowners and buyers for the costs to plan, develop and build an ADU on their property.

By now, you should be getting excited about the financial possibilities and benefits of an ADU. I’m working with a lot of homebuyers – including first-time buyers – and investors who see the huge potential of an ADU on their property, so contact me for more information or to pencil out the numbers together!

What Does It Mean to Marry the House but Date the Rate?

Wed, 08 Mar 2023 23:31:19 GMT

You may have seen a lot of negative news in the housing market lately, with headlines screaming about the lowest sales volume in years, the lowest housing affordability in history (which I seriously doubt), and how prices are dipping.

Well, I’m here to tell you some good news: it doesn’t really matter, and all is going to be alright.

How can I be so confident with this assessment that home buyers actually have a golden opportunity right now (and it’s not the end of the world like the media would have you believe)?

It’s because you marry the house, but you just date the rate.

What does that mean?

It’s a funny little saying that’s popped up on social media lately, especially among disgruntled Realtors or mortgage brokers who suddenly have seen their pipelines dry up.

And as cheesy as the saying may be, it’s also totally true.

With mortgage rates rising at a scary rate over the last year and now approaching 7%, it is accurate that potential homebuyers are facing an affordability crunch. For example, that same mortgage that would have cost you $2,500 per month may be $3,300 now. Ouch!

But it really doesn’t matter in the grand scheme of things because you’re going to buy a house you love (marry it so to speak) but just date that mortgage rate.

Yes, that mortgage rate is only temporary and probably even short-term, so you're just going to date it in this analogy – be with it for a little while to pass the time until it's time to break up and move on.

Here’s why: the average homeowner refinances approximately every 7-9 years or so, new homebuyers refinance far more, and homebuyers in California tend to refinance the moment rates drop or their homes go up in value.

So, the point is that you're going to find a great home now to purchase – with the added benefit of prices dropping so you get a great deal, as well as fewer bidding wars, better terms, etc.

But your 6.7% rate or 6.5% rate or 7% rate that you get today that seems (and probably is!) too expensive won’t be around for long – you’ll probably dump that rate the moment mortgage rates drop again.

Yes, the home that you love but is a little pricey from a mortgage perspective will be much more comfortable once you refinance, which history shows us is almost always a certainty for home buyers.

You probably won't even have to wait long. With the federal reserve bank's campaign to raise short-term benchmark rates to fight inflation, mortgages are affected, so rates become collateral damage.

But the market has already priced in risk and future rate increases, so as the fed eventually tapers off its campaign to raise rates and inflation cools, we'll likely see mortgage rates fall again. My best guess (and it is just a guess) is that within 18-24 months, you'll probably see great mortgage rates again.

And in the meantime (while you’re living in and enjoying the house you just bought for a great deal), to help make your home loan more affordable, there are tools you can utilize like a 2-1 rate buydown, a seller credit to buy down your rate when you purchase, etc.

Talk to your mortgage broker about those (I can recommend a few great ones if you’d like), but the point is that you want to buy a house now when prices dip and then refinance into a lower rate in the near future.

I hope this helps explain that saying, and if you have any questions at all, please reach out!

10 Things in The Neighborhood That Will Sink Your Home’s Value

Thu, 02 Mar 2023 17:06:48 GMT

If I present to you a 3-bedroom, 1-bathroom home that’s only 1,200 square feet and then compare it to a 5-bed, 3-bath home that’s 2,500 square feet, which do you think is worth more?

There’s a good chance that the bigger (and probably newer) home is worth more, but it’s certainly no guarantee. In fact, many well-established, high-price neighborhoods that are most desirable also come with older, smaller homes.

The point I’m making is that location matters in real estate. We’ve all heard the “location, location, location” advice when going house hunting.

But more than just the neighborhood or street that it’s on, proximity to other elements and circumstances can dictate your home value, too.

For instance, if you’re right across from a beautiful park, the best school in Sacramento, or in a luxury condo downtown by the arena, your property value may be higher.

However, there are things that can sink your home’s value, too, and you should be aware of these before buying.

Based on various studies, research, and the findings of appraisers, here are 10 things that will drop your home’s value significantly.

1. Damage from a Sinkhole

In some parts of the country, sinkholes are a really big danger, and they harm property values accordingly. In fact, if your home is damaged by a sinkhole, you can probably knock 30% of its value just to start, and your home value will also be affected by nearby sinkholes.

2. City Dump

Landfills and dumps in the vicinity drag down your property value, up 5.5% - 7.3% according to one prominent study. Of course, the effect to home prices is far higher in urban or suburban areas and almost nonexistent for rural properties.

3. Power Plants

A Cal-Berkeley study revealed that houses within a couple of miles of a power plant sell for 3-7% less than similar houses further away.

4. Neighbors who are Hoarders

If your neighbor has junk piled everywhere, an unkept lawn, and their property looks positively sloppy, it definitely could affect your home value, too. In fact, potential buyers may want to knock 5-10% of your home’s price just because of your messy neighbors!

5. Noisy Neighbors

And if those same neighbors are bumping loud music day and night, that could knock 5-10% off your home’s value, too.

6. Fracking

Fracking is controversial many areas of the country, so much so that a Duke University study found that property values fell up to 24% if you live within 1.25 miles for a shale gas well (used for fracking).

7. Billboards

If your home sits within 500 feet of a billboard, studies show that your home is worth $30,826 less on average than the exact same house further away. Conversely, communities with strict billboard zoning rules tend to have higher average property values.

8. Poorly Rated Schools

Good school systems are a huge priority for homebuyers, and homes around top-rated schools often sell for more. But bad schools can actually push your home price down, so it’s worth checking out the schools in your neighborhood even if you don’t have kids.

9. Noise Pollution

If you live near a highway, train tracks, or close to an airport, your residential property values will be significantly lower than similar homes that don’t have those noise nuisances.

10. A Prison, Strip Club, Meth Lab, etc.

There are a host of other businesses, public services, or even illegal activities that could sink your home’s value if you live close.

The bottom line is that no matter what kind of home you’re looking for and what the neighborhood, it’s important to drive around (at several times of day or night) to see if there are any items on this list that will hurt your home’s value!

Great News for First-Time Buyers: FHA Loans Just Got More Affordable!

Fri, 24 Feb 2023 01:36:11 GMT

If you’ve been thinking about buying your first home this year, we just got some great news that will make a popular loan for new buyers more affordable.

In fact, those who take out FHA loans (a common loan program among first-time buyers that’s backed by the Federal Housing Administration) will save about $800 on average annually, according to a White House release.

The savings comes not from lower interest rates or a dip in fees (although those would be nice, too!), but the discount will be due to a drop in mortgage insurance premiums for FHA loans.

As mandated by HUD, the mortgage insurance that’s required for almost all FHA loans will be reduced from 0.85% to 0.55% for borrowers.

The lower mortgage insurance premiums (MIP) will go into effect as of March 20 of 2023, and beyond.

And according to White House estimates for the average FHA borrower, that reduction in MIP will save about $800 per year.

FHA loans are particularly attractive for first-time buyers for a variety of reasons.

Chief among them, FHA loans may require lower down payments, typically only 3.5% of the purchase price. Credit standards are also more flexible with FHA loans, and down payments or funds to close may be gifted.

There are other benefits to FHA loans that make it an ideal loan for buyers to purchase their first home, and that could be why almost 84% of FHA mortgages are issued to first-time buyers. That’s pretty incredible when you think about it – more than 8 out of 10 FHA loans go to first-time buyers!

And HUD and the White House press release point out that this improvement in affordability will especially help lower-income buyers and minority buyers.

"For this country to truly succeed, all Americans must have access to opportunity. That means expanding access to wealth-building and home ownership," said Marcia L. Fudge, HUD Secretary.

"Today, we are building on the steps we've taken to make homeownership more affordable, and HUD is acting to ensure people feel comfortable purchasing a home as they build toward their future. As we reduce housing costs for people with FHA mortgages, we continue our work to address longstanding disparities in homeownership."

But there are some hoops to jump through and drawbacks to FHA loans, including the necessity to pay mortgage insurance (if you come in with a low down payment when buying). And those mortgage insurance premiums are relatively sizable, including 1.75% of the loan amount in upfront mortgage insurance as well as about 0.85% in annual mortgage insurance premiums.

That MIP is broken down monthly and included in their total monthly mortgage payment. But, as of March 20, most mortgage borrowers who take out FHA loans will only pay 0.55% in mortgage insurance premiums, a welcome savings!

If you’re considering buying your first home this year – or would like to be connected with one or two of the great mortgage brokers we know, please contact us here.

What’s Hidden Behind Your Home’s Walls?!

Mon, 20 Feb 2023 17:33:25 GMT

The latest Tik Tok trend is hidden rooms, in which people, on camera of course, explore a secret space that was built into a home. They may be safe rooms, wine cellars, extra storage closets, or act as vaults to hold all of the homeowner’s treasures.

There also isn’t one type or age of home that holds a hidden room, as people are discovering them in Victorian mansions, Brooklyn brownstones, normal suburban ranches, and especially ultra-modern new homes.

That got me to thinking about not only hidden rooms, but people who find things tucked away in the walls of their homes.

Right here in Sacramento, I had a friend who bought an old commercial building (on D Street in East Sacramento) and converted it into his own personal residence. While doing some demolition to an interior wall one day, he discovered a banker’s bag buried inside the plaster that contained all sorts of antique coins, some of them going back all the way to 1905!

He cashed in the newer ones for a couple grand and kept the most valuable antique coins on display.

Here is a list of some other things homeowners have found buried, tucked, and hidden within their walls:

Liquor bottles are quite common to find in the walls in older homes, as Prohibition in the 1930s led people to keep their alcohol stash hush hush. The same goes for cash, coins, or even bonds, as property owners back in the day didn’t trust banks so they hid valuables in their walls.

One homeowner found hundreds of love letters sent from a solder in WWI to his sweetheart back home hidden within his walls. (I wonder why they ended up in the wall?!)

An ecstatic homeowner found an Action Comic #1, featuring an early Superman, buried in his walls and long forgotten. It was still in good enough condition that he was able to sell it at auction for $175,000! The best part was that he’d only paid $10,000 for the old fixer home!

When their father passed away, two brothers were going through the home of their late-dad’s home. He had a Norman Rockwell painting hanging on the wall, which they knew was just a copy.

But then they discovered a well-wrapped Norman Rockwell painting stored within a nearby wall – that was the same painting but a certified original!

Apparently, their father had switched out the original for a copy to hide it from his ex-wife in their divorce, and now the original was worth millions!

Here’s a Scooby Doo mystery for you: a new homeowner found a hidden crawl space in their property that contained a briefcase, a series of watches, videotapes, and cash.

But the strangest thing was a note that accompanied the random items, spelling out just “Save yourself.”

In 2011, a Wisconsin man was remodeling his bathroom when he found a large metal object entrenched in the wall. Upon removing it and dusting it off, he found that it was a US army missile from the Korean War…and was still live with a five-inch explosive head!

Obviously, he called in the authorities to remove it safely.

IA man in New York City was renovating his commercial building when he noticed a strange subtle glow behind a crack in a wall. Upon investigation, he found that there was a neon light behind that wall that had been left plugged in and on for 77 years!

The building had been a forest-themed restaurant back in the 1930s including neon effect lighting, but parts were walled-over when it was refurbished in 1949. Apparently, the construction workers didn’t bother unplugging or even turning off the light!

The new property owner estimated that keeping that light on for 77 years probably added $17,000 to the electricity bills.

Beehives containing 80,000 bees, scores of cats, squirrels, rat infestations, and even snakes (hundreds of them!) have been found inside people’s walls.

If you found that your walls were literally crawling with snakes, how fast would you call me to sell?!

Then again, if you bought a home using my help and you found a million dollars in the walls, would you call me immediately and offer to share it?!

A Statistic You Won’t Believe – The Most Compelling Reason to Buy a Home!

Tue, 07 Feb 2023 17:43:08 GMT

Homeownership is still the bedrock of the American Dream, the best avenue for the average person to build equity, amass generational wealth, and eventually retire comfortable (or at least free of rent or a mortgage payment).

In the past couple of years, we’ve seen an abnormally hot market with outrageous bidding wars and ludicrous offers over asking price, just for rabid buyers to get considered. But was all of that due to a turbo-charged market cycle, record low interest rates, and demographic changes due to Covid?

Not really, as there was another important factor in play. It’s one which so many people are missing and don’t even know about: institutional investors buying single family homes.

In fact, this prevalence of huge corporations and investors buying blocks of residential real estate to turn a profit will turn our housing market into a game of musical chairs, leaving a lot of people standing (and renting) when the music stops.

And if you think it’s hard competing for that new listing down the block in your neighborhood with other consumers, try going head-to-head with institutional investors.

In fact, the trend is gaining so much momentum that Real Estate Business Online, drawing on respected Yardi Matrix data, recently published an article with the headline:

Institutions Will Own 40 Percent of All Single-Family Rentals by 2023.

40% of the entire single-family rental market will be owned by these big investors. And 2030 is not so far off. Consider that at some point in 2022, institutional investors accounted for 8.4% of all single-family home purchases, or one in every 12 homes sold approximately.

Of course, it makes financial (dollars and) sense for them, especially with the stock market falling 20% in 2022 and inflation eating up any hope for profitability from more traditional investments. Instead, they can divvy up their spare change of a few billion (no exaggeration) and gobble up residential property.

We’re not just talking about professional investors or individuals looking to pick up a rental property, but massive corporations and funds with bottomless pockets, scooping up single-family listings en masse, turning whole neighborhoods into rental zones.

And while the percentage of our listings going to large investors has dropped slightly to 6.4% (one in every fifteen homes), possibly as covid-era demographics unwind and rents drop, the wave will keep rolling.

Their profits are massive, whether they rent or resell. And with the average rent in the U.S. surpassing $2,000 for the first time last year, rising 15% year-over-year, it’s hard to see them turning their backs to this lucrative asset class.

It’s probably no coincidence that the percentage of first-time buyers purchasing a home last year was at an all-time low (about 26%!), as home price growth, higher mortgage rates, and increased competition pushed affordability out of reach.

But if real estate operates on the simple premise of supply and demand (and it does), expect that affordability crunch to continue. Demand will remain high with fewer listings and a scarcity of SFR when you add the fact that 10%, 20%, or even eventually 40% of the market will be dominated by institutional investors.

If you ask me, now may be the best time for the average person to benefit from that mega trend, especially in high-cost states like California.

Buy a home. Buy a rental. Buy another one. Don’t stop and rest on your laurels. Sure, it always feels expensive (as it always has), but according to this data, you will be sitting pretty by 2030 as 40% of all SFR purchases are monopolized by corporations and funds.

Otherwise, when the music stops (sometime around 2030) and you find that corporations own 40% of all residential SFRs, you’ll be the one left standing.

***

Contact me if you’d like to explore the possibilities of buying your first rental property and cash in like the big institutional investors!

Chowing Down with Sacramento’s Best Restaurants

Wed, 01 Feb 2023 01:16:14 GMT

Are you a big fan of eating out?

Cooking meals at home are fun and all, and family dinners at the kitchen table are invaluable, but let’s be honest – it’s darn fun to go out to eat, too!

When it comes to eating out, some people visit their favorite restaurant once a week, while others eat just about every meal on the town, always trying new and interesting eateries.

I would even argue that the quality of local cuisine and abundance of great restaurants helps define a city, and that’s definitely true in Sacramento.

In fact, Sacramento ranks really high on lists of best cities for foodies or cities with the best restaurant scene; surprisingly high!

For instance, the personal finance website WalletHub publishes an annual list of the top cities in the U.S. for foodies. And for 2022, Sacramento came in #6 on that list.

That’s right – Sacramento was named the #6 best city in the entire U.S. for foodies! And that’s out of 182 cities.

Basing their results on affordability, diversity, accessibility and food quality, Sacramento came in only behind San Francisco (#4) for foodie cities in California, even cooking San Diego (#10) and Los Angeles (#15).

For reference, Portland came in at #1, Orlando #2 (really?!), Miami #3 (again, really?!), SF at 4, and Austin #5 rounded out the top-5 ahead of Sactown.

But the WalletHub list wasn’t just for best restaurants but top cities for foodies, which included grocery store availability and pricing, street food (we’ve got that covered!), and access to healthy cuisine.

How about just restaurants?

This is based on a list published by the Sacramento Bee, who named their top 50 Best Restaurants of 2022 for Sacramento.

I’ll recap just the top-10 on the list here below:

1. Ella Dining Room and Bar

1131 K St. Sacramento, CA 95814

Cuisine: Modern American

2. The Firehouse Restaurant

1112 Second St. Sacramento, CA 95814

Cuisine: American

3. Formoli's Bistro

3839 J. St. Sacramento, CA 95816

Cuisine: Mediterranean, California

4. Hawks Restaurant

5530 Douglas Blvd., Ste. 110 Granite Bay, CA 95746

Cuisine: New American

5. Hook & Ladder Manufacturing Company

1630 S St. Sacramento, CA 95811

Cuisine: California, American

6. The Kitchen

2225 Hurley Way, #101 Sacramento, CA 95825

Cuisine: Contemporary

7. Paul Martin's American Grill

1455 Eureka Rd. Roseville, CA 95661

Cuisine: American, California

8. Piatti

571 Pavilions Lane Sacramento, CA 95825

Cuisine: Italian

9. The Waterboy

2000 Capitol Ave. Sacramento, CA 95814

Cuisine: French, California

10. Zinfandel Grille

2384 Fair Oaks Blvd. Sacramento, CA 95825

California, Italian, Contemporary

It’s easy to list top-ranked restaurants as designated by food publications and critics, but how about the people’s choices?

A better guide may be Yelp, which measures user ratings. And on Yelp’s list of top 100 restaurants in ALL of America, Sacramento has three notable additions.

The renowned The Kitchen Restaurant came in at #76 on their list with their Michelin-starred dining experience, Timmy’s Brown Bag in Placerville cracked the list at #100, and West Coast Taco Bar in Sacramento led our local inclusions at #66 on the list! Yes, Yelp named this awesome taco truck as the best in Sacramento by user ratings!

It just goes to show that when it comes to food, there’s something for everyone, every budget, and every type of food!

So, what’s your favorite restaurant in Sacramento?

Just email me here with your answer and I’ll also tell you my favorites – which I promise you are hidden gems that deserve to be way high on all of these lists.

Don't forget when it comes to Greater Sacramento Real Estate we're here to help!

Buen provecho, bon appetit, and chow down!

10 Demographic Stats You May Not Know About Sacramento in 2023

Tue, 24 Jan 2023 22:25:26 GMT

Sacramento is growing and thriving right before our eyes, to the point that it was just named the #1 best city to live by Forbes magazine!

That’s incredibly notable since Forbes also named Sacramento the #3 most miserable city in America in 2011. What a transformation!

https://www.siliconeastrealestate.com/sacramento-goes-from-most-miserable-to-1st-in-california-according-to-forbes

For those of us who have lived here most of our lives, those changes come gradually and aren’t always apparent. But if you are a Bay Area investor looking to purchase rental property in Sacramento, for example, what you saw in 2003 versus 2013 would be drastically different.

So, today I wanted to present 10 demographic statistics that define present-day Sacramento.

The current population of the entire Sacramento metro area is 2,215,000, which is an 1.33% increase since the start of 2022. For the city of Sacramento, the population to start 2023 is 542,481.
That makes Sacramento only the 6th largest city in California, but the 34th largest metro market in the entire U.S.
Based on projections, Sacramento is expected to be California’s fastest growing city over the next few decades, with the city’s population rising 54% to 2.2 million by 2060.
Sacramento boasts a younger (median age is only 34.52 and 21% of the population are Millennials) and well-educated population (65.03% of residents have some college experience or a bachelor’s, master’s degree, or more).
The median household income in Sacramento is now $65,847.
Average household expenses per month are now $7,927 in Sacramento.
Sacramento has been assigned a Community Wellness Score of 65 out of 100 by Forbes magazine, which leaves some room for improvement!
One of the wonderful aspects of life in Sacramento is its diversity. In fact, Sacramento was once named America’s Most Diverse City by the Civil Rights Project at Harvard University. As of 2023, it’s been ranked as the #3 most diverse city in America.
Sacramento is ranked in the top two-thirds of all cities in the U.S. as best cities for outdoor activities, healthiest cities in America, and best cities for young professionals.
The split between homeowners and renters is more equitable than national averages, which means more people are renting in Sacramento. In fact, only 49.2% of people own a home in Sacramento compared to 50.2% of the population that rents.

Now that you understand these 10 demographics and statistics for Sacramento in 2023, look for a future blog with 10 stats and data points about the Sacramento housing market for 2023!

And if you had any questions about Sacramento – and why it’s a great place to buy a home and invest – please reach out any time by clicking here.

Sacramento Goes From “Most Miserable” To “1st In California” According to Forbes

Thu, 19 Jan 2023 23:20:57 GMT

For those of you who live, work, and play in the California capitol, the transformation has happened right before your eyes. A stunning new arena popped up, the downtown was revitalized, businesses flocked, and the economy flourished, and, yes, home prices have gone up accordingly.

Now, the nation is taking notice of Sacramento’s not-so-rapid rise, including one prominent national publication, Forbes.

In fact, Forbes magazine just named Sacramento #1 on their annual list of BEST places to live in California. That’s right, based on a host of factors and metrics, Forbes ranks Sacramento as the best spot to put down roots and buy a house in all of California.

https://www.forbes.com/advisor/mortgages/best-places-to-live-in-california/

While it’s nice to see Sacramento (finally) getting its flowers, it’s also more than a little surprising to those longtime residents who remember darker days.

In fact, not so long ago Forbes also named Sacramento on one of its lists, but this time for being #5 for the “Most Miserable Cities in America.”

Sacramento actually hit the Most Miserable list at #5 two years in a row, which is understandable considering the state of the city back then.

(To be fair, most of NorCal was reeling at the time, with Stockton #1 “Most Miserable City” in the entire country and 8 out of the top 20 (worst) rankings in California.

Sacramento was hit exceedingly hard by the mortgage meltdown, real estate crash, and financial crisis. Foreclosures popped up everywhere, bankruptcies abounded, crime and blight crept in, and the city was facing a distavorous fate.

(If you want to take a not-so-fun trip down memory lane, here is the Forbes article from 2011.)

https://www.forbes.com/2011/02/02/stockton-miami-cleveland-business-washington-miserable-cities.html?sh=107d7ce279f3

However, just twelve short years later, Sacramento has risen from the ashes and now stands at #1 (in Forbes’ opinion) as the best place to live in all of California – quite an accolade.

According to Forbes, this was their methodology for ranking Sacramento #1:

“We compared the various California metropolitan areas using data from several platforms to measure variable criteria for home affordability, healthy employment and population growth.

Of course, we’d all love to live beachside in San Diego or somewhere similar. But cost of living and housing affordability are big factors in Forbes’ judgment of our fair city, and Sacramento’s real estate market has been one of the strongest in the country over the past decade.

And despite a (very) temporary slowdown due to higher mortgage rates, our real estate market is set to slingshot into a highly successful 2023.

Sacramento is still the best place to buy a home or invest in real estate and apparently, Forbes agrees!

***

If you’d like to explore the possibilities of buying, selling, or investing in our #1 ranked city of Sacrament, please contact me!

-Rico Rivera

7 Things to Know Before Moving to Sacramento

Thu, 12 Jan 2023 18:30:48 GMT

Rico Rivera is a seasoned real estate professional with an undying love for Sacramento and the Bay Area.

He has a deep understanding of how special California is and uses that knowledge to provide the best service to those who seek to buy a home in the Golden State.

He is also a member of the California.com Recommended Business Program.

Sacramento is so much more than just another California city. As the capital of the Golden State, it is literally at the center of things with a booming economy, plenty of recreational activities, and wonderful food. All this combined with a famously laid-back atmosphere makes for one of the best places to live in California with a high quality of life. Despite this, Sacramento is somewhat underrated as far as California cities go, and that means there are plenty of cool reasons to move to Sacramento you might not have known about.

The cleanliness and modernity of the city have made it especially attractive to young professionals from the Bay Area moving to Sacramento, particularly those hoping to raise a family. The City of Trees is both modern and connected with nature, safe but not boring, and has a little of something for everyone. Let’s check out seven of the cool things to know before moving to Sacramento.

1. Wonderful Weather

Great weather is one of the best reasons to move to Sacramento. Much like San Diego, Sacramento enjoys consistently good weather thanks to year-round warm temperatures, and a lack of humidity. This translates to plenty of sunny days and very few rainy ones. You won’t have to worry about clearing your driveway from snow either as Sacramento very rarely sees snow flurries. It has not snowed in the City of Trees since 2009.

Those from the Bay Area moving to Sacramento should pack a few of their warm jackets for the coldest winter days, but most of the time you won’t need any kind of winter wear in Sacramento. The coldest month in the city is January when the average high temperature is 56 degrees and the average low is 37. Sacramento only receives about twenty inches of rain on average, and most of it is in January.

https://www.shutterstock.com/ru/image-photo/view-towards-tower-bridge-skyscrapers-downtown-1188419080

Sacramento enjoys a moderate climate with warm temperatures and rare precipitation, perfect for those who like to get outside a lot.

2. Lower Living Costs

While it is true that Sacramento has living costs that are higher than the national average, the city remains more affordable than most other major California cities. Sacramento real estate prices still have much of the rest of California beat when it comes to affordability. For example, San Diego is 35% more costly than Sacramento, and Los Angeles is over 46% more expensive.

Those from the Bay Area moving to Sacramento will be happy to know that Sacramento is also more affordable in living costs than San Francisco. This is particularly true for Sacramento’s real estate prices which have remained competitive compared to other cities in California. Houses for rent in Sacramento also tend to be more affordable than in other cities in California. The median rent in Sacramento is just over $1,800 compared to nearly $3,400 in San Francisco, for example.

When it comes to median home prices, the capital is also at an advantage. Whereas San Jose has a $1.2 million median home price, Sacramento’s median home price is $430,000. Since Sacramento is also one of the cleanest and safest towns in the state, that means your money can take you further, particularly if you’re looking for a good place to raise a family that has a higher quality of life.

https://www.shutterstock.com/ru/image-photo/single-family-house-temecula-city-california-1183084201

Median home prices remain lower in Sacramento than in other major Californian cities.

3. Great Location

Sacramento is close to major attractions including Lake Tahoe, the Sacramento River, Reno, and even San Francisco. In other words, you have plenty of options when the holidays come to town as there are some great places that are just a stone’s throw away. Make a weekend trip to Lake Tahoe and enjoy the scenic snowy vistas and amazing skiing pistes, or take a quick hour-and-a-half trip down to check out historic neighborhoods in San Fran such as Castro or Haight-Ashbury. With such a diversity of options available, holidays are bound to be fun-filled affairs if you move to Sacramento, CA.

It’s worth noting that the job market has only been looking up in Sacramento. There are a growing number of jobs in a variety of industries such as transportation, agriculture, mining, healthcare, construction, and technology. The positive job market is an especially important detail since it only enhances Sacramento’s benefits as a good location to live and work for young professionals.

https://www.shutterstock.com/ru/image-photo/classic-view-historic-traditional-cable-cars-627905945

Amazing vacation destinations such as San Francisco are only a short road trip away from the City of Trees.

4. Quality Schools

One great reason you won’t regret moving to Sacramento is that it is home to some of the best school districts in the state of California. Those moving to Sacramento, CA will be happy to know that the city itself has a whole host of distinguished schools that enjoy high graduation rates and good college readiness indicators. There are also a wide range of quality schools in Sacramento County and the wider metro area. So even if you live away from downtown your kids can still have access to quality education.

5. Farm-to-Fork Capital of the World

Foodies moving to Sacramento, CA will be thrilled to know that Sacramento is a veritable hub for healthy, quality eats. When you want the freshest food possible, you have to go straight to the source, and Sacramento is that source. The Sacramento area is home to much of America’s agricultural wealth. It is the home of America’s biggest agricultural producers and is full of amazing restaurants that offer an unparalleled farm-to-fork dining experience.

This is all possible because the ingredients are from the rich fertile soil of Sacramento itself, and you can’t get fresher than that. Foodies and advocates of a healthy lifestyle have the ultimate reason to move to Sacramento as the culinary scene is quite simply unmatched by any other city in the United States.

Thanks to its well-developed farm-to-fork culinary culture, Sacramento’s Farm-to-Table restaurants have garnered international recognition from such distinguished authorities as the Michelin Guide. In celebration of this rich tradition of quality foods and agriculture, Sacramento also hosts an annual Farm-to-Fork Street Festival on the last weekend of each September. Coffee lovers will also be right at home in the City of Trees as four of the best coffee manufacturers in the nation also live here.

https://www.shutterstock.com/ru/image-photo/sacramento-feb-22-night-view-downtown-1047617074

Enjoy a spectacular dining scene in Sacramento thanks to a sophisticated farm-to-fork culinary philosophy that has gained international acclaim.

6. The City of Trees

Even as an increasingly urbanized city, Sacramento still lives up to its distinct nickname. The City of Trees offers plenty of options for those who love to explore the great outdoors thanks to natural attractions that are just a short drive away from the city. One great reason to move to Sacramento, CA if you’re a nature lover is Discovery Park.

A truly unique place to visit in California, Discovery Park has plenty of spots for picnics, horseback riding, boating, cycling, hiking, and even water skiing. This is thanks to its bountifu l mountainous woodlands and the fact that it marks the start of the American River Parkway—a large network of parklands that go all the way up to Folsom Lake State Recreation Area. The region is also home to the Sacramento Delta which is just ten miles south of the city and filled with endless rivers and tributaries, making it a great place to get away from the city hustle and bustle.

https://www.shutterstock.com/ru/image-photo/dawn-over-landmarks-west-sacramento-1476260747

Living up to it’s nickname, the modern urban heart of California’s capitol is just a stone’s throw away from spectacular scenes of nature.

7. Home to the Largest Rock Festival in California

Metalheads moving to Sacramento, CA will be thrilled to know that the city is host to Aftershock , an annual four-day-long rock and heavy metal music festival in either September or October. The festival regularly features famous names in heavy metal and rock scenes, including Metallica, Slipknot, Korn, Rob Zombie, Bad Religion, and countless others. The festival was first held in 2012 and has since become a nationally popular event around the country.

Music isn’t the only attraction at Aftershock as visitors can also enjoy Sacramento’s gourmet, healthy cuisine thanks to local food vendors. The rock festival even features a distinct art exhibit offering even more for spectators to enjoy. Naturally, one great reason to move to Sacramento is that the festival will be right in your hometown, so no need for grueling road trips to catch your favorite band live.

https://www.shutterstock.com/ru/image-photo/crowds-enjoying-themselves-outdoor-music-festival-184911035

Enjoy a spectacular celebration of rock and heavy metal at the annual Aftershock festival in Sacramento, CA.

Institutional Investors Are Gobbling Up Single-Family Homes. What Does That Mean for You?

Wed, 11 Jan 2023 23:38:39 GMT

We’re all tracking the numbers for our residential housing market, watching the interplay of how higher mortgage rates affect home prices; affordability impacts home sale volume, and, always, how supply and demand find their equilibrium.

But in this conversation and amid all of the statistics that are floated, one critical factor is often ignored: the rise of institutional investors purchasing single-family homes.

Like never before, Wall Street is snatching up residential homes at a record pace, keen on cashing in on solid home price gains and increased rental income.

Pension funds, insurance companies, private equity firms, real estate investment trusts, and other entities increasingly view single-family homes as a stable part of their portfolios, as well as a sound hedge against inflation.

As is often the case, Wall Street’s gain is Main Street’s loss, as these mass purchases by institutional investors are driving up home prices, squeezing out first-time buyers and others, and pushing rents higher as well.

Before 2008, single-family homes were "cold product" for institutional investors, who preferred owning multi-family dwellings and apartments. But since the flood of foreclosures after the mortgage meltdown and subsequent real estate crisis, and again since 2019, single family homes are a key to a well-balanced portfolio for many.

Here are some illuminating facts and stats about the prevalence of institutional investors

buying single-family homes:

2021 was a banner year for institutional real estate investors, who acquired 90,215 homes in the third quarter of 2021 alone.

That’s up an astounding 80.2% since the number of institutional home purchases in 2020.

Overall, investors (both institutional and individuals) purchase about 18% of all single-family homes for sale, or nearly 1 in 5.

Overall, about 2% of all single-family homes in America are owned by Wall Street-backed firms.

In 2021, nearly one in seven residential home sales went to investors in U.S. metropolitan areas.

And institutional investors scooped up nearly one in seven single-family homes in 2021, or 6.7%.

That’s up from 6.4% in 2020. But over Q4 2021, investors bought almost 15% of all homes sold in the top 40 metropolitan markets across the U.S.

Of all the homes that investors purchase currently, three-quarters are single-family homes. In typical markets spanning back decades, investor portfolios featured only a quarter single-family homes and the rest multi-family, commercial, etc.

In 2021, public issuance of debt to buy single-family homes and capital investments climbed to a record $45 billion.

As we track rents, it’s not hard to see why SFRs are so attractive for investors. Average rent in the U.S. grew to a record-high of $2,002 around the middle of last year, the first time its ever passed $2,000 and a 15% year-over-year increase.

Even with sky-high rents, average national occupancy rates rose to 95% by the third quarter of 2021.

Institutional investors who are buying SFRs are focusing on properties in the Southeastern, Southwestern, and Western regions of the U.S.

So, as a homeowner, seller, or especially as a homebuyer, you should be aware that you’re not just competing against other consumers and families out house hunting, or even individual investors looking for good bargains, but large institutional buyers.

How should you adjust your own real estate strategy accordingly? Feel free to contact me to talk about it!

Sources:

https://www.huduser.gov/portal/pdredge/pdr-edge-featd-article-011023.html

https://finance.yahoo.com/news/quick-enter-market-institutional-investors-142959250.html

https://www.washingtonpost.com/business/interactive/2022/housing-market-investors/

https://www.toptal.com/finance/real-estate/wall-street-buying-single-family-homes

Why Waiting to Buy A Home In Sacramento Probably Won’t Save You Money

Thu, 05 Jan 2023 00:16:01 GMT

“I’m going to wait to buy a home until... [insert excuse here].”

That’s often the talking point we hear from those least informed and least qualified to advise us on real estate decisions: our neighbors, coworkers around the water cooler, friends (who are still renting), and others on social media (which is never a good place for sound advice!).

The justifications are varied, but also loop in a continuous cycle through the years and decades.

“I’m going to wait to buy a house until prices drop.”

“I’m going to wait to buy a house until mortgage rates drop.”

Or my personal favorite…

“I’m going to wait to buy until the next huge wave of foreclosures.”

I understand the instinct to save money. No one wants a good deal more than me!

But that loop of waiting for pie-in-the-sky reasons is actually vastly counterproductive, leading many in the general public to buy high and sell low – not the opposite – when it comes to real estate. We see that over and over again.

So, let me dig a little into market data and actual case studies to show you why “endless waiting” probably isn’t a good strategy in 2023 (for either buyers or sellers).

First, let’s look at why waiting “until prices drop” is not a great strategy in Sacramento.

We don’t know where interest rates are going but the general consensus is that they will stay the same or even rise slightly through 2023 as the Fed raises their benchmark rate to fight inflation. So, waiting may actually cost you more from a mortgage standpoint.

How about waiting until home prices drop? If prices are 10% lower by the end of 2023 (as an example), then you’ll surely save 10% on your home purchase, right?

Not so fast. For instance, you may actually be paying far more if mortgage rates are just a tick higher, as I explained above.

But most importantly, think about how much more competition you’ll have as homebuyer if/when prices drop.

Instead of holding all of the leverage as a buyer and being able to offer a lower purchase price, you’ll probably have to offer full price – or higher if there’s a bidding war. Yes, remember those nasty bidding wars that drove asking prices up 10% or more in 2021 and early 2022? Those may be back as the competition swarms.

Waiting until there’s more competition also means you’ll have far less negotiating power when it comes to terms of the deal, such as asking the seller to pay a credit towards buying down your rate, repairs, and other amenities in the contract.

Without that seller credit towards buying down your rate (which will be much harder to get if/when prices drop and there are more buyers looking), the total interest you’re paying on the mortgage – the true cost of your home – will be much higher!

Remember, too, that everything in real estate is built on supply and demand. Right now, demand is low due to higher rates and affordability issues. But don’t expect any sort of sharp drop like we saw post 2008.

Listing inventory is still incredibly low in Sacramento, driving up demand. And we don’t expect the flood if interest from Bay Area buyers and investors to stop anytime soon, further bolstering demand in Sacramento.

Remember, too, that demand is ALWAYS strong in California. With a huge, diverse population that is always growing (no matter how many media headlines cry that so many people are leaving the state), California is a hot spot for population growth. That’s even more true in Sacramento, the seat of state government, redevelopment, and a burgeoning tech and medical business boom.

One more factor that almost NO ONE is talking about in the supply/demand equation is the explosion of institutional investors buying residential single-family homes.

Last year, something like 12% of all SFR home sales were by large institutional investors, who are gobbling up residential real estate. That is expected to continue and even grow in 2023, so your competition won’t just be other normal consumers.

Add it all up, and even if prices drop 3%, 5% or 10% in Sacramento in 2023 (which I doubt), these other factors will influence the actual cost you pay for a home (and a mortgage).

My advice to you? Don’t try to overthink it or “time” the market. That doesn’t work in stocks, and it doesn’t work in real estate (for the average person).

Instead, buy when it’s the right time for YOU – including in 2023. There are ALWAYS great deals out there for those willing to put in the time and the work to find them!

I’d love to help you explore those possibilities in 2023, so please reach out to me if you’re thinking of buying in Sacramento!

Airbnb Changes the Equation for Sacramento Real Estate Investors

Wed, 21 Dec 2022 00:19:59 GMT

The equation used to be pretty straightforward for real estate investors: buy a property for as little as possible, hope the mortgage payment isn’t atrocious, and pray that you break even every month.

Of course, that usually wasn't the case (unless you dropped a massive down payment) at first, and maintenance, move-out costs, cleaning, insurance, etc., pushed your total monthly liability past the point of the rent you could collect.

That still penciled out in places like Sacramento, California, since house prices gained appreciation rapidly in most markets, and rents also climbed steadily. Within a few years, the property was breaking even or cash flowing, and the investor had accrued a treasure trove of equity, too.

However, when the market turns (and/or mortgage rates climb), it’s a little harder for investors to weather those first few years until they are in the black or see significant monthly profitability. California’s higher property prices present a higher barrier to entry for investors, too (although the payoff is even larger!).

Luckily, Airbnb has changed that equation.

Founded in 2008 right there in San Francisco, the website acts as a portal for users to book "short-term homestays and experiences."

What that means in reality is that someone who is looking for a condo, apartment, house, or even just a private room for 1-30+ nights can book through Airbnb, which is usually much more comfortable, flexible, and at a better price point than hotels.

The benefit to property owners and investors, of course, is that they can list their property on Airbnb instead of renting monthly to a long-term tenant.

As we speak, there are 329,283 Airbnb listings in California and about 2,500 in Sacramento alone!

For investors, Airbnb offers a host of benefits that allow them to become more profitable more quickly.

In a future blog, I'll cover my tips and best practices for real estate investors who want to utilize Airbnb, but here are a few clear advantages:

With Airbnb listings, you don’t have to deal with California’s Draconian tenant protection laws and regulations, etc. Needless to say, you need to follow all state, local, and national regulations around tenant rights and maintain a safe property, but the rules are not in favor of landlords for long-term rentals, and much easier through Airbnb.
In fact, Airbnb handles payment processing, deposits, etc., so you don’t have to chase down tenants for money at all! If you’ve ever tried to track down late rent payments, you know that’s a huge advantage!
Property maintenance and cleaning are far more frequent with Airbnb listings. Yes, you’ll have to have it professionally cleaned each time a guest leaves (and pays a cleaning fee), but that will also allow you to keep closer tabs on your property. Any maintenance issues will be brought to your attention immediately and handled instead of festering unaware for long periods, which usually means a higher price to fix in the long run.
Airbnb listings give you huge flexibility – you can keep it vacant if needed, stay there when you want, increase the price, etc., all at your whim and convenience.
If the secret to real estate is “location, location, location,” then Airbnb is a winner since it allows you to cash in on your proximity to key places in Sacramento. For instance, a small condo close to the airport may not have been too lucrative for long-term rent, but a huge boon through Airbnb.

For instance, we recently wrote a blog about investing in properties near colleges and universities in and around Sacramento, which would also make fantastic Airbnb rentals. (https://www.siliconeastrealestate.com/investing-in-real-estate-near-sacramentos-colleges-and-universities)

Airbnb allows you to become efficient and systematized through its technology platform like you never could with a typical long-term rental property.
More money! How’s that for a compelling argument?!

Let's do the math on a hypothetical one-bedroom studio condo in downtown Sacramento. When charging long-term, monthly rent, maybe it would go for $1,800 (which is being generous).

But you list it on Airbnb and ask $140 per night, which is still quite reasonable for an entire unit and the location.

And if your unit is ooccupied an average of 21 nights per month, that comes to $2,940 per month – a clear winner!

And if you wanted to raise it to $165 per night and it was rented only 19 nights per month, you’d still come out ahead at $3,135 per month.

Of course, you may have a few extra costs with Airbnb (but not much), but you also should be able to maximize your listing and rent it out more. Either way, the financial benefits are clear for rental property investors!

Cash in on any seasonal trends with Airbnb, such as a huge increase in profit during winter months closer to the ski slopes, summer months by the beach (or river in Sacramento), etc.
By listing your property on Airbnb (or VRBO and others), you have access to a massive marketing machine – with them doing all of the work for you! Of course, you’ll want to optimize your listing and make it stand out to take full advantage of all they offer for marketing.
But that lets’ you improve the intrinsic value of your investment property by optimizing your Airbnb listing, above and beyond building sweat equity with actual property improvements. So, cool videos, professional photos, drone shots, facilitating more reviews, sharing the link online, etc., can only help your listing – and put more money in your pocket.

Now that you understand how Airbnb can change the rental property equation for investors in Sacramento, please reach out if you’d like more information on which properties are for sale right now that may be suitable.

Looking Into CAR’s Crystal Ball at the 2023 Housing Market

Tue, 13 Dec 2022 18:52:02 GMT

The California Assoc. of Realtors just released their annual forecast for the coming year, looking into a crystal ball to see what the housing market may look like in 2023. Of course, like all forecasts and predictions, this is not a matter of fact but expert opinion, complied from various credible sources in the industry.

It’s also worth noting that these numbers reflect California as whole, while the local Sacramento market could (and will) look totally different.

But in a broad sense, this gives us one estimate of what buyers, sellers, and homeowners may be facing in 2023.

I’ll also end each section with a quick thought or reaction.

According to the California Assoc. of Realtors (CAR) forecast:

Home Prices

Everyone wants to know where home prices are going, so I won’t keep you waiting any longer! According to the CAR forecast, CA’s median home price will fall by 8.8 percent in 2023, to a median of $758,600.

That follows an expected 5.7 percent increase in California’s home prices by the end of 2022, hitting a high-water mark of $831,460.

To calm nerves and put the 2023 forecast in perspective, a potential median price drop to $758k in 2023 would set prices around the level last seen in 2021, when the median California home price was $786,700 by the end of the year.

*With all this media hype stoking consumer fears of a crash or housing bust, an easing of home prices by less than double digits is an outcome we should all feel good about. After a decade of price growth and two pandemic years of white-hot, artificial growth, the market needed to come back to earth at some point.

An 8.8 percent drop should be considered a normalized rebalancing of the market.

Sales Volume

Sales of existing single-family homes are expected to tally 333,450 units in 2023.

That’s a 7.2 percent drop from the 2022 pace of 359,2220 existing SFR homes sold, but a significant 19.2 percent reduction from the 444,520 homes sold in 2021.

*In all, a drop of only 7 percent in sales volume is extremely good news for our CA housing market, as we’re currently seeing sales volume down 40 percent or so due to low demand, high rates, and sour consumer sentiment.

Mortgage Rates

As the Fed continues their crusade against inflation, mortgage rates are expected to remain elevated through 2023. We’re not sure if they will break the 7% barrier again, but there are hopes that they’ll settle into the mid-6% range for the year. (

But one thing is for sure is that rates are a whole lot higher than when we started 2022, rising more than 4% at the fastest pace ever through the year.

Based on CAR’s research, they expected the national average for 30-year-fixed home loans to 6.6 percent for 2023, up from an average of 5.2 percent in 2022 and 3 percent in 2021.

*Mid-6’s seems painful if you’re comparing today’s rates with the all-time historical lows that we saw in 2021, but not bad at all if you compare them to the all-time historical averages for mortgage rates (above 7 percent).

But despite the sudden climb, the mortgage market has settled and stabilized – important factors when considering pricing.

Buyers also have a variety of tools to keep their home loans affordable including Adjustable-Rate loans and buy-downs, often funded by seller credits! Of course, a refinance is always on the table if/when rates drop in a few years.

Housing Affordability

Elevated mortgage rates will continue to pour cold water on buyer affordability in 2023, which is expected to fall another 18 percent next year after a 19 percent drop in 2022.

*The market always adapts and finds its equilibrium. Sellers need to sell, and that means price reductions, the end to bidding wars, seller credits and amenities, and far more buyer leverage.

It may be harder for first-time buyers to qualify, but it will still be the best time to buy that they’ll ever see.

***

Do you have questions about the 2023 housing market in California – or wondering what your home is worth now, in today’s market? Feel free to contact me!

Why is Winter One of the Best Times to Sell Your Home in Sacramento?

Wed, 07 Dec 2022 23:19:25 GMT

In Sacramento, the winter months are the time to get warm and cozy at home, enjoy the holidays with family, and hibernate until the spring months, right?

Not so fast, as the period from November through February are actually the prime months for listing and selling your home. ‘Don’t believe me?

Let’s look at some facts and statistics compiled by prominent real estate websites and sources on the topic:

1. Listings are 9% more likely to sell in the winter months than any other time of year. That’s a remarkable difference – nearly a tenth more likely that the sellers are able to close the deal and get the proceeds in their pockets.

2. Homes also sell on average one week faster during winter. That’s 7 fewer Days on Market, a significant drop since the average DOM is usually about 30 or less (a very broad approximation, but you get the idea). So, that means home sell in about 75% of the time during winter.

3. Here’s the best one: Redfin also found that homes sell for 1.2% HIGHER during winter months! I guess all of those highly motivated buyers are serious about closing the deal and getting the house they want. For reference, for every $100,000 home sold, that’s an additional $1,200 in the seller’s pocket.

4. During the winter months, there are also typically 17% fewer homes on the market. One could understand this as many people are settled during colder months and don’t want to disrupt their holidays. But as a homeowner and seller, that means your listing has nearly one-fifth less competition! With so few homes to look at and put in an offer, it’s no wonder why home prices are higher during winter months!

5. Buyers are serious and motivated in the winter! During summer and warmer weather months, you get a lot of people out there looking at homes, stopping in open houses, or just checking out their options. But during the winter months, when it's cold, dark, and often rainy by the time they get out of work and can go view homes, you better believe you're highly motivated if you're out viewing homes. Whether they are downsizing, going through a divorce, relocating for a job, moving into the area, etc., buyers tend to be WAY more serious during winter months – which is great for sellers and speaks to some of the stats above.

6. Smoother transactions, less backlog.

With far fewer sellers and, therefore, sales from November through February or so, one added perk is that industry professionals are less busy, so transactions tend to fly through quicker and more smoothly. From home inspectors to appraisers, bank underwriters, and title and escrow folks, everyone's calendar is more open during winter.

7. Tax breaks before year-end.

Some of the best advantages to owning or selling real estate are the tax breaks you receive. So, listing your home in the winter months may give you added flexibility and write-offs before the end of the year. Even if your home doesn’t technically close and sell before January 1st, the money you spend on repairs, staging, cleaning, etc., might help minimize your tax obligation for the year. Of course, we recommend that you talk to your CPA or tax professional for advice.

8. You'll be ready to buy by early spring!

This benefit to selling during the winter is often forgotten, but you'll probably want to buy another home once yours sells. (Oftentimes, you'll be moving up and buying a bigger, nicer, dream home, which is the fun part!) So, once you close your home sale during the winter, you'll be ready to get out and buy by late winter or early spring. That means you'll see increasing inventory and more options but get a jump on all of those buyers who flock to the market in late spring and summer.

It's always a great time to sell if it’s the right time for you, but please consider selling during the winter if you’re at all considering listing your home soon.

3 Reasons Why We’ll See a Buzzing Housing Market Next Spring

Wed, 30 Nov 2022 21:24:04 GMT

Right now, we’re dealing with the hangover after a wild party that was pandemic-era housing market and price growth. Sales have stalled, housing inventory is paltry, and the market looks like someone hit the Pause button.

But mark my words, the housing market will be buzzing with increases activity and sales this spring. Here are three reasons why:

1. Affordability returns

One way to think about it is that our market is declining, and home prices are falling. But a more nuanced perspective tells us that hot pandemic-era price growth is correcting. In fact, in the Sacramento region, 40% of home price gains during the pandemic have essentially been erased in the past seven months.

Home price growth is slowing and will continue to do so. Right now, home prices are flat since the same month a year ago, and probably will turn negative once we see November’s complete data.

While smart sellers should be scrambling to list their homes for sale in order to cash in on the mountain of equity they’re sitting on, buyers will get some welcome affordability relief.

If home prices keep dropping up to 1-2% per month, buyers will see the spring as a prime time to get out and find their dream home, but this time with prices that have dropped 10% or more since just a year earlier.

2. Rates have settled

Few people were optimistic about the housing market when rates jumped over 7% a few months ago, pushing affordability out of reach for many and creating a huge psychological barrier to buying. But since then, we’ve seen rates settle nicely, including a couple huge drops. Right now, rates are in the mid-6% range again, and are expected to settle there going into 2023.

While rates in the 6%’s aren’t quite as exciting as record-low rates, stability is key for the housing market. Additionally, there are plenty of strategies to keep mortgage payments low, like utilizing an Adjustable Rate Loan (ARM) or even getting the seller to contribute a credit towards buying down the rate.

The point is that mortgage rates won’t hold buyers back in the springtime, and we’ll all have adjusted to the new normal!

3. Normal seasonal trends

Spring and summer are the busy home buying months for many reasons, including better weather, sellers eager to sell their home and find another before the fall, school schedules, etc. Just about every springtime, we see higher listing inventory and a huge jump in buyer activity. That even held true from 2007-2008, when the market completely imploded; things got busier in the spring.

Right now in Sacramento, sales volume is about 43% lower than pre-pandemic averages and down almost 50% since last year. But we can expect a buzz of activity in the spring of 2023 yet again, as first-time buyers, move-up buyers, and even investors hit the streets (and the internet) looking for great deals – this time with lower prices and no bidding wars or paying far above listing price.

While it’s far different than the (artificially inflated) white-hot pandemic housing market, 2023 will see stability, balance, and a welcome dose of affordability. We’re cautiously optimistic that springtime will be busy again for buyers and sellers in Sacramento!

***

Contact me if you’d like to get your home ready to sell by spring or just want to get a jump on the competition!

6 Reasons to Be Thankful this Thanksgiving

Wed, 16 Nov 2022 01:11:37 GMT

6 Reasons to be thankful this Thanksgiving

Thanksgiving is here, our favorite American holiday that’s all about turkey dinners, fun runs, getting together with family and friends, and, of course, giving thanks for how much we’ve been blessed with.

And our gratitude extends to the real estate business and housing market, too. So, before I run to the store to pick up my turkey and make the rounds to wish folks a happy Thanksgiving, I wanted to jot down 6 things that I’m thankful for this year.

Rates are actually coming down.

The entire housing market turned upside down earlier this year as mortgage rates more than doubled, even surpassing 7%. But, in recent weeks, rates have actually come down – and are quite reasonable again. I’m also seeing more amazing, creative loan programs and solutions offered by my mortgage broker friends, which are empowering buyers and bringing stability to the housing market once again.

Buyers are finally catching a break.

With home prices starting to soften, buyers are finally seeing opportunities again. Just as importantly, the crazy bidding wars and bonkers competition that we saw over the past few years has calmed down, so buyers are seeing better deals and have negotiating power once again. Add in the recent news about dropping mortgage rates, and it’s a great time to buy!

Sellers can still cash in.

Buyers may have more leverage, but the party isn’t over for homeowners and sellers. That’s because we’re sitting on an all-time high level of home equity after nearly 12 years of solid-to-spectacular home price appreciation. So, even though our housing market has shifted over the second half of 2022, homeowners have a long runway if they want to sell and cash in.

However, time isn’t on their side because the longer they wait to list their home and sell, the more they may have to make accommodations for price and terms.

It’s not 2008.

The sky is falling! The market is crashing! Ummm, no. In fact, our current market looks nothing like 2008: we’re sitting on record equity instead of being upside down in our homes, the vast majority of people have stable, safe mortgages instead of exotic and dangerous adjustable and even negative amortization loans, and more. Not to mention, our financial institutions, banks, and even Wall Street are thriving – not crashing.

Sacramento is still a bargain!

Whether you’re an investor or looking to relocate your family, Sacramento real estate presents a tremendous bargain compared to other metropolitan areas in California.

In fact, the median home sale price in the Cali capital is now about $467,000. Compare that to the median in San Francisco ($1.4m), San Jose ($1.25m), Los Angeles ($950k), and San Diego ($841k), and buying real estate in Sacramento for nearly half the price or less presents a golden opportunity.

I’m thankful for YOU!

Most of all, I’m extremely grateful for all of the support, business, and referrals that you’ve been sending me. It’s an honor to help you and your family with your real estate needs, and I’m thankful for your friendship!

Happy Thanksgiving, everyone!

10 Things Everyone Should Understand About Mortgage Rates.

Fri, 04 Nov 2022 18:22:56 GMT

Mortgage rates have soared through the second half of 2022, more than doubling from lows at the beginning of the year. And while we’re all feeling the whiplash of higher rates and payments, it’s not at all unexpected – or something to even be overly concerned about.

Sure, it stings the buyer who is now looking at a significantly higher payment for the same priced house as at the beginning of the year, but there are a lot of ways to adapt, get creative, and lower your rate (and payment) so you can still buy the house you love.

Today, I wanted to bring to your attention 10 things everyone should understand about mortgage rates.

1. The 30-year fixed-rate mortgage as we know it is relatively new. In fact, the whole real estate and mortgage industry was restructured in the 1940s and 50s to accommodate homeownership for the millions of GIs returning home from WWII, eager to start families and live in homes in the suburbs.

2. But before the Great Depression, most mortgages usually included a very high down payment, were short-term and had dangerous balloon payments.

3. Despite all of the social media and water cooler "experts," mortgages are still not fully understood among U.S. consumers. In fact, a CNN Money survey found that more than a third of those polled don't have a clue what "annual percentage rate" means or understand amortization.

4. The lowest mortgage rate in U.S. history occurred in December of 2020 when the national average 30-year-fixed rate was 2.68%, according to Freddie Mac. The lowest annual average also occurred in 2020, which was 3.11%.

5. The highest U.S. average 30-year fixed mortgage rate hit in October of 1981 at a whopping 18.45%! That year also walloped U.S. home buyers with the highest annual average at 16.63%.

6. Those are some very different lows and highs, so it's a good idea to look at averages over time to provide some context. According to Freddie Mac, between April 1971 and October 2022, the U.S. average for 30-year fixed-rate mortgages was 7.76%

7. Looking at it like that, our current rate environment of high 6% or just over the 7% mark is well below the average from the past 50 years. However, we have experienced the most rapid rise in rates in the shortest time in history, as the average mortgage skyrocketed from 3.22% in January 2022 to 7.08% in October, an increase of almost 400 basis points (4%) in just ten months.

8. A quick message to homebuyers right now. I understand that it’s hard to stomach buying with a 7% rate (or less, as we’ll read next). But someone made a GREAT point the other day – would you rather have a 4% rate but have to pay $100,000 over list price in a bidding war? Or have all of the leverage as a homebuyer now, offer at or lower than asking for a great deal, and have much less competition or pressure?! The choice is clear!

9. Just because the national average mortgage rate is around 7% doesn’t mean that’s what you need to pay. In fact, there are PLENTY of ways to get creative and drop your rate/payment when buying now. Those include adjustable rate mortgages (ARMs), rate buy downs, 2-1 buydowns, and even negotiating for the seller to contribute or pay for those lower rates! I work with some amazing mortgage brokers, so I'm happy to introduce you for more information.

10. We’re rapidly shifting to a buyer’s market when homebuyers and first-time buyers have all the leverage and choices! While it may seem scary and a little uncomfortable while looking at today’s rates, remember that you’ll benefit from price drops and be able to buy low.

And the best part is that in a couple of years when rates drop, you can simply refinance to the lower rate (based on qualifying and equity, of course).

That’s truly the best of both worlds – buying in a buyer’s market and then refinancing to a lower rate when available for huge savings.

So, let’s talk about your next home purchase!

3 Real Estate Mistakes People Keep Making Again and Again

Tue, 25 Oct 2022 16:21:06 GMT

Real estate remains the best investment the average person can make, and nearly two-thirds of Americans do own a home or property. However, people can also be their own worst enemy when it comes to their property purchases, making decisions with their home, and managing their home loan. The result is that they put a very low ceiling on the potential for building long-term wealth through real estate.

As a real estate sales professional, it’s frustrating for me to see people making these three mistakes over and over again, so I wanted to outline them today – and hope you don’t make them, too!

1. They Buy High and Sell Low

The most important investment advice you can ever hear is “Buy low, sell high.” And yet when it comes to real estate, the average person does the opposite. Of course, it’s way more enticing to buy when it’s popular, interest rates are low, and values are climbing. After all, your neighbor just sold his house for a huge profit and everyone is gaining appreciation, so why not buy a house for yourself?

But that only means you’re buying at or near the top of the rollercoaster before it drops down. To do the opposite – buy low and sell high – you should be aware of market cycles and purchase a home or investment property when it’s unpopular and everyone around you is doing the opposite.

As investment icon Warren Buffet puts it, “The time to buy is when there’s blood in the streets.” That may sound a little dramatic until you realize what he’s really saying is that the time to buy is when everyone wants to and needs to sell!

2. They Don’t Understand the True Nature of Mortgages

A lot of people focus on their mortgage rate, to the point where they brag about their latest low-rate refinance at parties or to make their neighbors jealous. But if you ask them about the true nature of mortgages and what they’re really paying, they’d only scratch their head.

That's because mortgage payments towards principal are not spaced out evenly throughout the 360 months of a 30-year mortgage, of course. That schedule of payments between interest and principal, called amortization, shows that the vast majority of payments until about year seven are going towards interest.

So, when someone sells their home (average of every 7-9 years or so) or refinances (average of every 4-5 years), they’re wiping the slate clean of that amortization schedule and starting from the very beginning again with a new loan – paying mostly interest.

So that rate you're bragging about is NOT the true cost that you're paying.

Look, we all want a low mortgage rate, and it does impact how much we pay. But correctly managing your home loan as a financial tool means understanding amortization, anticipating how long before you sell or refinance, looking at adjustable rate loan products, rate buy-downs, and even making an extra payment towards principal when appropriate.

All of those things will help you correctly manage your mortgage just as much as a low rate!

3. They Don’t Leverage Their Equity for Financial Gain

Have you ever played the board game Monopoly?

Of course, you have. And if you played the game to win, you first bought a property and then added a house, then hotels, and then more hotels, more properties as you collected money when other players landed on those, etc.

The same is true of real estate in real life – if you want to “win” the real estate game (to fund a comfortable retirement, for instance), it's important you keep making investments and buying property, using it as stepping stones.

For instance, you can buy a condo or townhome, live in it for a couple of years, and rent it out on Airbnb while you move up to a house. Or buy a multi-family property like a duplex, triplex, or fourplex and live in one unit while renting out the others. And taking a HELOC against your equity allows you to buy a fixer which you then flip for a huge profit.

***

There are plenty of ways to win the real estate game and put your family in a much better financial position – as long as you stop making these common mistakes!

Dispelling the Doom and Gloom in Our Housing Market

Tue, 11 Oct 2022 20:42:09 GMT

We’re in the midst of a rapidly changing housing market, an inevitable swing from sellers to buyers after more than a decade of hot home price growth and record-low interest rates. However, I'm noticing far too many people mention 2008 and talk about a housing crash, which is not only completely incorrect but adding unnecessary fear and disinformation to our market.

So, I wanted to dispel the doom and gloom with a few points about why this housing correction will be nothing like 2008.

1. US Homeowners are Sitting on a Record Amount of Home Equity

In 2008, the housing market was propped-up by 100% financing, negative amortization loans, and eager homeowners taking cash out of their properties as often as possible, leaving our collective Loan-to-Value precariously thin.

But these days, US homeowners actually enjoy a record amount of home equity. In fact, for all owner-occupied properties, the total value is now about $41 trillion.

We only owe $12 trillion in mortgages against those owner-occupied properties, which means we have a Loan-to-Value ratio of 29.5%. Not only is that a treasure trove of tappable home equity (whether through a sale, refinance, HELOC, etc.), but it’s the lowest national LTV since 1983!

2. Lending Standards (and Loans) are Conservative.

After the mortgage meltdown and housing crash of 2008, the home loan market was completely revamped in terms of regulation, lending standards, and borrower requirements. Since then, the vast majority of borrowers took out 30-year-fixed loans at or near record-low rates, with the volatile and dangerous option arm, interest only, and short-term adjustable loans gone.

Likewise, down payments became the norm again, so buyers had "skin in the game," and stated income or no-document loans also went away. Not to mention, US consumers now have a record-high average credit score!

Add it all up, and the vast majority of homeowners have safe, stable loans with payments they can afford.

3. Inventory is Really Low.

The value of any commodity is predicated on supply and demand, and the US housing market is still facing a pronounced inventory shortage.

Here in Sacramento, we've gone from 0.96 Months of Supply in September 2021 to 2.20 Months of Supply through September this year. At face value, that may seem like a lot of inventory, but it’s still a paltry number, as “normal” markets usually have about 4-5 months of listing inventory available for buyers to choose from.

So, we still have a pronounced shortage of homes for sale, and many would-be sellers may also get discouraged now by price dips and buyers with all the leverage, choosing to stay put and not put a sign in their front yard.

Low housing inventory – and a near-zero number of foreclosures and short sales like we had in excess post-2008 – will ensure that the asset of housing holds its value.

5 Reasons Why It’s Actually a Great Time to Buy in Sacramento

Wed, 05 Oct 2022 17:22:38 GMT

The Sacramento real estate market is going through some profound changes as we close out 2022, with a major shift from a hot seller’s market and huge price growth for more than a decade. Now, with mortgage rates increasing and the economy looking at a recession, a lot of people are sitting on the sidelines when it comes to buying their next home.

That’s the wrong move.

Fortunately for you, there are even more golden opportunities and great deals in the Sacramento region, with smart buyers and experienced investors poised to take advantage over the next 6-12 months.

I’m here to tell you that it’s actually a great time to buy in Sacramento for many reasons, and here are five of them!

Prices Are Coming Down

After nearly twelve years of hot price growth, the Sacramento market is finally facing a much-needed correction. With mortgage rates doubling so far this year, it’s no wonder why buyers are far more cautious or downright priced out of the market. And while experts are forecasting mild price slowdowns, we’re definitely not facing any sort of market crash or colossal price drops in Sacramento.

But for smart homebuyers and investors, the next 6-12 months should be a prime opportunity to “buy low” in Sacramento – before prices start climbing again!

Highly Motivated Sellers

Sellers are getting realistic very quickly in Sacramento’s market, and making concessions with their asking price, terms, and negotiation accordingly. Guided by fresh market data, selling your home in Sacramento means pricing it for end of 2022 into 2023 – not trying to get what it was worth at the very start of 2022. Sure, some homeowners “don’t get it” and aren’t reducing their price – and their homes are just sitting and stagnating without selling. But for those who are serious about selling and attracting a buyer, they’re highly motivated and pricing their listings accordingly!

Less Competition & More Negotiating Leverage

With higher mortgage rates cutting into buyer affordability, sales volume is falling sharply in Sacramento swinging the pendulum from an extreme seller’s market to a buyer’s market quickly. Yes, you’ll have to pay more for your mortgage rate, but other than that, just about all factors are in favor of buyers right now. That includes far less competition when out shopping for homes, and you won’t be vexed by stiff competition and insane bidding wars like we saw last year in Sacramento.

You’ll also experience a noticeable shift in negotiation power, as buyers have just about all of the leverage now. That means terms, conditions, timelines, and other factors all are on the table when it comes to buying a home, and the smart buyer will take advantage by negotiating those fine points in their favor.

Lately, we’re even asking for a seller credit towards buying down our buyers’ mortgage rates when writing offers, so please ask me about that opportunity!

Rents Are Going Up

Rents have risen sharply in Sacramento over the last few years, as well as across California. In fact, in many markets, we’re accustomed to double-digit percentage rent increases annually. And while Sacramento’s rental increases are somewhat capped with new tenant protection laws (they’ll be about 10% this year), we still expect healthy rent increases every year.

So, if you’re an investor looking to buy a cash-flowing rental property in the Sacramento region, it’s a great time to get in on the ground floor. And if you live in Sacramento and are still renting, buying a home will be the best long-term investment you’ve ever made!

Buy When It’s Unpopular To Do So!

Financial icon Warren Buffet recommends buying when there’s “blood in the streets,” meaning when it’s scary and unpopular to do so. Why is that sound advice with real estate, too?

Essentially, buying when it’s less popular means you’re buying low – instead of purchasing when everyone else is scrambling to do so, which drives up prices and means you’re buying high (or higher).

For true investors or those who understand “buy low/sell high,” the next six to twelve will present a golden opportunity in Sacramento. We’ll likely see price dips, are already experiencing more inventory, more motivated sellers, better terms and negotiating leverage, etc., but also remember timing: once rates go back down and the economy settled, we’ll see a rush back to the housing market – and that means prices will start climbing for years to come once again.

Buy now and you’ll be able to cash-in on the next cycle of price growth!

The Rent Report

Fri, 30 Sep 2022 21:32:19 GMT

With all this talk about the housing market and mortgage rates, we too often forget one crucial fact: if you're not a homeowner, you're paying rent. Therefore, it's important that we keep tabs on rental prices if we want to put the cost (and opportunity) of home ownership in context.

Today, I want to do two things with this article:

Encourage first-time buyers that the cost of owning a home is less if we include rapidly rising rents in the conversation, and
Illustrate to real estate investors and future landlords just how lucrative the Sacramento region can be for cash-flowing properties.

Whether you’re born and raised in Sactown or live in the Bay Area and are enticed by Sacramento’s hot rental market and low prices (and for good reason!), I hope this Rent Report helps guide your strategy and provides value.

And if you ever want to talk to a local real estate expert about the possibilities of investing in rentals, please give me a call!

First off, Bay Area investors will find gold in Sacramento due to its comparatively low property prices. While the median home price in the San Francisco metro area is now north of $1.46 million, the average home for sale in Sacramento is only $490,000 – close to one-third of the cost!

Just as important, you get far more bang for your buck in Sacramento, with larger lot sizes, more spacious floor plans, and more bedrooms/bathrooms per unit on average – all factors that go into the rent you can realistically charge.

Investors will also find a wide array of property types to choose from when looking for their next cash-flowing rental, from half-plexes to condominiums, townhouses to duplexes, and four-plexes to larger commercial apartment developments.

And speaking of rental prices…

In terms of rent growth, Sacramento also shines (if you’re an investor or a landlord).

When you first look at the numbers in a vacuum, Sacramento’s 4.7% Y-o-Y rental price growth may seem light compared to California’s median 9.4% Y-o-Y growth. But the CA numbers include rents from white-hot rental markets like San Francisco, San Jose, San Diego, Los Angeles, etc., skewing the percentages.

If we instead compare median rent growth (for 2-bedroom units) in Sacramento against other fast-growing cities around the country, we see that rent growth in the 916 ranks higher than Las Vegas, Phoenix, and Portland and only sits behind Seattle, Austin, and Denver.

In fact, Sacramento's median two-bedroom rent of $1,701 is well above the national average rent of $1,364.

If you’re a Bay Area investor, you may be already doing the math on ROI and cash flow in your head, so let me offer some further data about Sacramento’s rental prices.

***Please note that these numbers are for apartments, but rents for comparable bedrooms in houses, condos, half-plexes, and other housing units may run significantly higher.

Average Apartment Rent in Sacramento

Updated September 2022

Studio $1,952

1-Bed $2,024

2-Beds $2,313

3-Beds $2,913

Sacramento Apartment Rent Distribution

(Studio, 1-Bed, 2-Bed)

2% < $1,000

16% $1,001 - $1,500

30% $1,501-$2,100

52% > $2,101

Hot Rental Neighborhoods in Sacramento

(2-Bedroom Apartment)

$3,298 Mansion Flats

$3,142 Boulevard Flats

$3,050 Central Sacramento

$2,936 Downtown

$2,675 Midtown

$2,450 East Sacramento

$2,440 Natomas Crossing

Instead, Sacramento has a host of positive factors that will continue to embolden and strengthen the city while also pushing rent prices up, including:

Highly educated, young workforce
Plenty of stable government and state jobs
Attracting more companies in fields like tech, healthcare, etc.
Widespread development and revitalization
And it’s still the capital city of the 6th largest economy in the world!

Before I leave you to it and get back to helping people buy and sell homes, some of you may have important questions about tenant protections with rent increases in Sacramento.

Currently, the City of Sacramento is regulated by the Tenant Protection Act of 2019, which is little more than a facsimile of California’s Tenant Protection Act of 2019 (passed as AB 1482). Sacramento County, however, has little or no local tenant protections in place.

Sacramento’s tenants can see rent increases of 10% this year due to the extra provisions for cost-of-living increases pushed to their maximums by inflation. In 2021, the rent increase cap was “only” 9% - meaning the possibility existed for a 19% rental income increase for landlords over that same span.

Please reach out if you have any questions or would like to see a list of my top picks for investment properties in Sacramento right now.

Sources:

https://www.rentcafe.com/average-rent-market-trends/us/ca/sacramento/

https://www.rent.com/california/sacramento-apartments/rent-trends

https://www.apartmentlist.com/rent-report/ca/sacramento

https://sacramento.newsreview.com/2022/09/14/hit-by-inflation-cost-of-living-hikes-and-corporate-landlord-profiteering-sacramentans-want-to-know-why-their-tenant-protections-are-so-weak/

Investing in Real Estate Near Sacramento’s Colleges and Universities

Fri, 30 Sep 2022 21:18:40 GMT

More and more Bay Area investors are turning to Sacramento for their next cash-flowing rental property, and for good reason. With an average purchase price less than half of that in the Bay or surrounding towns, plenty of multi-family homes in affordable neighborhoods, and strong rental demand, Sacramento presents a golden opportunity.

There are many strategies to look at when investing in Sacramento real estate, but one that’s rarely covered is purchasing rental units near colleges and universities.

You may not think of California’s capital city as a hotbed of higher learning, but there are dozens of colleges, universities, law schools, business programs, and even trade schools in the region.

Whether your child is actually attending one of those secondary schools or you’re just looking for a sound investment, we encourage our investor clients to take a hard look at housing near those institutions.

And if you do have a kid in college in the Sacramento area, let’s do the math on buying a property for them to live in for four years (compared to student housing or writing a rent check to a landlord every month).

For instance, at the University of California-Davis, the average annual cost for Room & Board is $17,880 in cramped student housing, while the average monthly rent for even a one-bedroom unit in Davis is now $2,510.

And at California State University-Sacramento ("Sac State"), Room & Board will run you $21,620 per year. Likewise, the average one-bedroom unit in Sactown comes in at $1,851 (and much more near the university or midtown/downtown).

So, housing costs alone will probably cost you close to $100,000 (or more) for four years once you factor in utilities and the like, and that’s assuming your precocious young student graduates in four years as planned!

However, consider the alternative: buying a property. There are still plenty of two or three-bedroom houses under $500,000 centrally located in Sacramento. Or a condominium near universities and colleges will present incredible value and still offer two or more bedrooms.

Why not buy and put your child in one of the rooms and rent the others to their friends? At the end of four (or more) years, you’ll most likely have gained significant appreciation, as Sacramento’s housing market has been white-hot in recent years.

And even if the market stagnates, you can simply hold the property and keep renting in four years when they graduate – and keep enjoying the monthly cash flow. In fact, Sacramento’s average rent prices have increased by more than 10% per year over the last few years and are expected to continue their ascension.

Aside from value appreciation, you'll have paid down the loan (albeit slightly) in those four+ years, enjoyed significant tax advantages, and taught your child the ins and outs of real estate investing, the benefits of homeownership, financial responsibility, credit score, etc. – invaluable lessons.

If you have a child going to school in Sacramento soon – or just want to pencil out the opportunity to buy a rental near these institutions of higher learning, please contact me!

-Rico Rivera

A List of Colleges, Universities, and Programs in the Sacramento Region:

State University-Sacramento
University of California-Davis
Lincoln Law School
Pacific McGeorge School of Law
Northwestern California University School of Law
MTI College
The Art Institute of California - Sacramento
Drexel University - Sacramento Center for Graduate Studies
International Academy of Design and Technology, Sacramento
Alliant International University
Cosumnes River College
American River College
Sacramento City College
Woodland Community College

11 of Sacramento’s Best Outdoor Activities to Enjoy

Mon, 15 Aug 2022 21:01:58 GMT

Check out the best outdoor activities to enjoy in Sacramento while you are visiting the capital of California.

https://www.shutterstock.com/image-photo/dawn-over-landmarks-west-sacramento-1476260747

Rico Rivera is a passionate and trustworthy realtor helping clients move to Sacramento. He is also a member of the California.com Recommended Businesses Program .

Disclaimer: California.com does not receive any kind of compensation for reviewing any of the products or services mentioned in this article.

Sacramento is known to be one of the most naturally beautiful cities in the Golden State; did you know that it enjoys almost 250 days of sunshine every year? That, to a nature-lover, is a clear call to enjoy as many outdoor activities as the city allows. From some of the most breathtaking rivers in all of California to parks as green as jades, the city is heaven to every outdoorsy person. The best part about the city is that many of its outdoor activities are child-friendly, giving you the opportunity to plan fun outings with the family, and at the same time, grow the love of nature in your kids. If you’re not sure what the most exciting outdoor things to do in Sacramento are, read on!

https://www.shutterstock.com/image-photo/two-smiling-young-women-kayaking-down-153984395 . Go with the flow of the Sacramento River and you’ll see the beauty of Sacramento in ways never experienced before.

1. Kayak Through the Sacramento River

Being in the Capital City means you are in the presence of California’s largest river, the Sacramento River. It is true that the river is a stunner, and you can spend hours admiring it from afar. It is also true that you can admire its grandness better by paddling through its waters. Not only is kayaking through the Sacramento River one of the best activities in Sacramento , but it’s also one of the best ways to sightsee the beautiful city. Walking through some Sacramento neighborhoods guarantees magnificent views of the river, too, if you’d rather not kayak.

2. Hike the Trails of Discovery Park

Sacramento is blessed with beautiful nature, and to enjoy the best of it, you should hike some of its most beautiful trails. The 275-acre Discovery Park is the jewel of the Sacramento Parks and Recreation Department. Located at the confluence of the Sacramento and American rivers, it offers the best wildflower hikes near Sacramento , in addition to many other riverside activities. Once you’re done hiking the park’s trails, go fishing at the nearby rivers, or simply sit down and have a fun picnic with your family.

https://www.shutterstock.com/image-photo/fiberlicious-giraffe-sacramento-zoo-nibbles-on-74750446
A s you feed them, the gigantic giraffes at Sacramento Zoo bow down to accept your offerings.

3. Visit the Animals at Sacramento Zoo

Are you ready to experience one of the best zoos in California ? Head straight to the Sacramento Zoo, where you’ll encounter more than 120 unique animals, many of which are endangered. A trip to the zoo will be the best way to teach your little ones the value of wildlife. It will also make them more environmentally conscious. Check out the endangered thick-billed parrot, feed the giraffes, and ride the carousel on a fun family day out in Sacramento.

4. Go On a Whitewater Rafting Adventure On The American River

One of the reasons why you should visit Sacramento is that you get to experience the gorgeous American River, up close and personal. Whether you’re on a solo trip to the city, having fun with your friends, or spending quality time with your family, going on a whitewater rafting adventure on the American River will add tons of fun to your Sacramento experience. American Whitewater Expeditions offers individuals and groups of all levels an unforgettable paddling experience across the river and some wildlife views to die for.

https://www.shutterstock.com/image-photo/sacramento-feb-22-afternoon-view-famous-1047617095

You can hop in a horse-driven carriage to view Old Town Sacramento, or you can simply bike through its charming streets.

5. Bike Around Sacramento

Hiking in Sacramento is an awesome way to explore the city, and so is biking on its swoon-worthy trails. Whether you’re looking for a riverside trail, one with city views, or one that takes you on a historic tour, you’ll always find a trail suitable for your liking. Bike the Sacramento River Parkway Trail for 9.3-miles worth of views of the famous river, or the American River Trail for an up-close look of Old Town Sacramento. Whichever of these top California biking trails you choose to take, know that the city will captivate you with its charm, and the calories you gained while dining at the best Sactown restaurants will be history.

6. Join Your Kids for a Fun Outing at Funderland

Did you know that Sacramento has one of the can’t-miss amusement parks in California? If not, it’s about time you gather the kids in the car, and head for a fun afternoon out at Funderland. Nine exciting rides await you at the park, which has been entertaining kids and their parents since 1946. Ride the Flying Dragon, roll around inside one of the crazy cups, or drive one of the backroad buggies — anything that will put a smile on your kids' faces. And, if you wish to give your little ones an unforgettable birthday party, Funderland is the place to choose.

https://www.shutterstock.com/image-photo/west-sacramento-ca-january-19-2020-1620231586 Nobody can resist the incredible atmosphere at Sutter Health Park or not.

7. Cheer For The River Cats

When in Sactown, you cheer for the River Cats. On game nights, thousands of loyal fans gather at Sutter Health Park to cheer for the five-time Pacific Coast League (PCL) titleholders. Just when you thought you experienced all the awesome things to do outdoors , Capital City brings you the River Cats. Join the passionate crowds in their baseball stadium and cheer for the team that has been making the city proud for years and years now.

8. Experience the Sacramento Community at Drake’s

Weekends in Sacramento are different, thanks to Drake’s. The two-acre gathering spot is where the Sacramento community heads on chill afternoons and evenings, to enjoy food, beverages, and entertainment. Sitting along the river in the West Sacramento Bridge District, this is the place where fun and community meet, creating unforgettable memories. Enjoy a yummy bite as you sway to the incredible live music available at Drake’s. Don’t forget to take a beautiful photo or two of this beautiful architectural masterpiece.

9. Scream Your Lungs Out at Scandia

You’ll never run out of exciting things to do outdoors in Sacramento. That’s a given. Another given is that the best fun you’ll have with your kids will be at Scandia. If you’re a family of thrill-seekers, you’ve probably already heard of the greatness that is Scandia. Once you’ve screamed your lungs out on the Crazy Dane Coaster and the Sky Screamer, head to the mini-golf courses for a fun family challenge, or enjoy some classic arcade games. You won’t even wait for your kids to ask you to take them back to Scandia the next time around.

https://www.shutterstock.com/image-photo/happy-woman-going-down-on-rubber-1102303757 You will probably enjoy the Raging Waters Sacramento waterpark as much as your kids will.

10. Ride the Exciting Water Slides at the Raging Waters Sacramento

As soon as the summer heat starts rising, all we can think about is how to beat the heat . If you’re in Sacramento, the first thing you probably think of is taking the family to Raging Waters Sacramento. The awesome waterpark has been entertaining its guests (of all ages) for over 30 years now. 20 water slides, a wave pool, and an 800-foot lazy river can be found in the waterpark, for the sole purpose of your entertainment. So, put on your swimming suits and get ready for all the excitement.

11. Enjoy 2-Hours of Climbing and Ziplining With Tree Top Sac

You might’ve walked or hiked through a heritage oak grove, but have you ever explored one from above? If not, then it’s climbing and ziplining time here in Sacramento. Tree Top Sac brings you the adventure of a lifetime with the opportunity to experience the forest from heights that range from three to 25 feet. Each of the courses comes with a set of challenges, which include, hanging bridges, ladders, ropes, and many more. Tree Top Sac is where you enjoy the best outdoor activities in Sacramento , challenge your fears, and feel one with nature. Despite the constant urge to admire the beauty below you, don’t forget to look up every once in a while, especially if you love bird watching, because you don’t want to miss all the birds that pass through the oak grove.

A Passionate Realtor Helping Bay Area Residents Transition to “Silicon East” in Sacramento

Fri, 18 Mar 2022 22:00:31 GMT

Rico Rivera is a seasoned real estate professional specializing in helping Bay Area residents relocate to Sacramento. Though his years of experience in the real estate industry and knowledge of the process make him an outstanding realtor, clients are drawn to him because of his undying passion for California and the Sacramento area. “There is no state like California. It’s the best,” says Rico. “Wherever I go, I can’t wait to get back to California.”

His love for the Golden State and for real estate began at a young age. Rico was born in Mexico and moved to California when he was eight years old. His family moved to Sacramento a few years later and—except for a short stint in Modesto—he’s lived there ever since. Now that Rico has been involved in real estate for nearly two decades—working his way up from a home warranty temp to the manager of a real estate branch—he’s taken on a new challenge as the founder of Silicon East Real Estate.

Drawing on Sacramento’s inland location in the tech triangle, Rico loves helping clients move from Silicon Valley and the Bay Area to take advantage of the lower prices and higher quality of life in Sacramento. Complete with natural wonders such as the Sacramento River, hiking trails, and Folsom Lake, Sacramento comes with all of the amenities of the San Francisco Bay Area—without the Bay Area traffic. Since Sacramento is centrally located, the beaches of San Francisco; the vineyards of Napa, Lodi, and Amador; and the slopes of Lake Tahoe are all available within an hour-and-a-half drive.

CREATING STABILITY AND GENERATING WEALTH THROUGH REAL ESTATE

Growing up in rentals, Rico experienced first-hand the difficulties of having to pack up every year or two—leaving friends, homes, and a sense of stability behind with every move. When his parents purchased their first house, his life changed for the better. “Real estate is the one thing that can help you gain wealth. I think it makes a difference when [generations] own real estate and when they don’t,” says Rico. “I like being able to bring that stability to people’s lives.” Since launching Silicon East in 2019, his team has already helped more than 50 families find their dream homes.

It’s so simple. You can make $100,000 in the Bay Area and live in a studio, or you can make $100,000 and live in a home in Sacramento. You can have a backyard—you can have dogs. It’s a richer lifestyle.

Rico has nothing but positive things to say about the Sacramento area. He’s persuasive enough to convince anyone that they should move there after a single conversation. While his friendly demeanour alone entices new clients, his network of professionals seals the deal. “If somebody wants to move out here,” says Rico, “they don’t have to worry about finding a mover. If they need an inspector—or anything in the process—we have the ability to help them. So, they don’t have to worry about it. We have it all dialed in.”

I’m passionate about what I do—I have a fiduciary responsibility to [my clients] and I want to make sure they’re taken care of.

RICO RIVERA

BUILDING COMMUNITY

When Rico isn’t helping Bay Area residents find their new homes in Sacramento, you can find him playing with his Australian Shepherd mix, running a DJ business, working on his restored 1957 Buick, dancing his heart out, and making a positive difference in his community. As a member of the Young Professionals Network (YPN), the National Association of Hispanic Real Estate Professionals (NAHREP), the National Hispanic Organization of Real Estate Associates (NHORA), and the Sacramento Association of REALTORS®, Rico is the perfect example of a realtor who gives back. Whether he’s organizing the collection of thousands of turkeys for Thanksgiving, toy drives for the children of fire victims in Northern California, or canned food drives, he’s always looking for ways to take care of those in need.

Rico Rivera , Silicon East Real Estate, Keller Williams, DRE# 02008887

The Importance of First Impressions When Selling Your Home

Wed, 27 Oct 2021 20:32:45 GMT

The saying goes, “You never get a second chance to make a first impression”. First impressions count. It’s true in life and especially true when selling your home. First impressions are formed in the first few seconds or minutes and they are next to impossible to change. By taking a few steps to make that great first impression you may be able to sell your home in less time, and more importantly, for an increased price.

Begin With Curb Appeal

When buyers approach your home, the condition of the exterior will cause them to come in for a better look or pass by and go on to the next house on their list. You don’t have to spend a lot of money here, just keep the grass and shrubs trimmed, the flower beds weed-free, and paint the front door a welcoming color. Clean the windows so that they shine. Roll up that garden hose and store it out of sight. Lastly, place a pot of flowers on the front step along with a new welcome mat and you will convince buyers to come in to see what’s inside.

Remove Your Personal Stuff

You want the buyer to envision living in the home, not review your life. Take down all of those personal family photos and pack them away. There is nothing wrong with your knick-knacks and collectibles, you simply want the buyer to focus on your home, not you personally. Rearrange furniture to make the rooms seem larger and more comfortable, not empty and sterile.

Small Changes Can Boost Appeal

Accentuate natural light by cleaning and shining the windows. Open any curtains so that the sun shines in. A low cost upgrade that will really say “clean” is to replace electric plug and light switch covers with new ones that have no finger smudges or scratches. Clean or replace outdated light fixtures and install new, higher wattage light bulbs, especially if you have light fixtures inside your closets. Another low-cost change that appeals to today’s buyers is an updated, programmable thermostat. Don’t forget to consider the garage . Clean out all of your storage items so that the garage looks roomier and not just a clutter collecting space.

There are More Senses Than “Sight”

Consider playing soft, mood music during showings Something classical or instrumental that fills the ears without becoming distracting. If you have a water feature, make sure it is happily gurgling. Brew a pot of coffee, bake a fruit pie, or set out a plate of just-baked cookies with a small sign saying “help yourself”. Clean your house a day in advance of time so that there are no harsh chemical smells. Don’t use air fresheners or incense, instead use pleasing natural scents like pine and lavender to enhance the smell of fresh and clean. A vase of fresh-cut flowers in a room will also increase a buyer’s sense of clean. Keep the home’s temperature not too cool and not too warm.

Get Them to Linger

You don’t want a buyer to do a quick walk through and then out the door they go. By doing these small things you will encourage buyers to stay a little longer, take a closer look at what your home can offer, and really image how nice it would be to live here.

Sources:

https://www.thepinnaclelist.com/articles/real-estate-essentials-the-importance-of-the-first-impression-of-a-home/

https://www.realtor.com/advice/sell/make-fantastic-first-impression-selling-home/

What would living in Sacramento, CA be like?

Wed, 15 Sep 2021 17:44:47 GMT

California is a beautiful state to live in - and a rather large one. How do you know what area of the massive landscape to choose? Where do you want to settle down, plant roots, and start building? It’s a hard decision when there are so many cities and towns to choose from, honestly.

We know your dilemma and we want to genuinely help you solve this predicament. To be fair, we should start the rest of this article by saying we currently reside in Sacramento, California. That doesn’t mean we’re biased, that just means we’re well educated in the surrounding areas and have only the truth to behold to you. This magnificent city is well worth considering if you're making a move sometime soon, and here’s a couple of reasons why.

#1 It’s downright affordable.

If you're considering moving to the Golden State, finances have probably come up in a conversation or two. Chances are, you’re worried about how much money it’ll cost to live lavishly in the California dream.

Well, we’re going to burst your bubble - in a positive way. Sacramento is not an expensive city to live in … at all. In fact, it’s one of the most affordable areas in the entire state. The primary reason? Because the housing costs are so low and the salaries are often adjusted for comfortable living.

#2 The job market has so many options to choose from.

Ten years back, this statement would not have been true. The unemployment rate back then was very unsettling - and not because people weren’t looking for jobs. It was because there were no jobs to apply to.

Nowadays, that’s changed entirely. Today, Sacramento is one of the most popular cities in the U.S. to go looking for a great-paying job. A lot of areas of the city keep coming up with jobs, and within the next decade, those employment numbers are only said to rise.

#3 The Golden 1 Center is going to be full of fun entertainment.

When this lovely entertainment center opened up back in 2016, it became a sight for sore eyes; everyone wanted to get in and see what it was all about. Why? Probably because it’s the very first solar-powered arena known to man featuring smart lighting systems everywhere you turn.

Love a good basketball game? Find it here. Want to watch your favorite artists in concert? Head on in. Have a craving for a kid-friendly show? Bring the kids over. It’s all here, and it’s a ton of fun.

On the other hand, if you’re not the type of person that goes out for entertainment, that’s fine. Head on over to your local entertainment store and grab supplies like a laser projector , screen, and AV receiver to set up a mini theater in your home. That’s just one idea! You can always think outside the box and install a pizza oven, popcorn machine, and mini bar to make the home theater more your style.

#4 The shade cools the ground for more comfortable temperatures.

In Sacramento, almost everywhere you look has shaded areas from high-standing trees and buildings. Fortunately for the residents of this city, there are statistically more trees per capita here than any other city in the United States.

The plethora of trees inadvertently decreases the overall ground temperatures making it much more bearable to withstand the heat throughout the year.

#5 The food industry is booming - and delicious!

The food festival in Sacramento obviously gets a lot of attention - and a lot of newcomers head on over to the city specifically for it. But, did you know that the overall food industry is absolutely scrumptious? Literally all you have to do is go on Yelp! or type in restaurants near me, check out the ratings, and head on into whatever you’re feeling up for!

There’s fine dining, fantastic burgers, yummy breakfast, great sandwiches, home-cooked meals, and countless restaurants, bars, and diners. Just ask the locals for some suggestions; we’re sure you’ll find the best of the best in no time.

Best Real Estate Agent Sacramento CA ~ Rico Rivera

Mon, 02 Aug 2021 23:50:24 GMT

Rico Rivera CEO/Realtor Silicon East Real Estate

https://www.siliconeastrealestate.com/

Rico Rivera NHORA Greater Sacramento Event Aug. 6th 2021

Thu, 15 Jul 2021 23:46:58 GMT

In this video I promote our event Friday Aug. 6th 2021 Located inside the Sacramento Association of Realtors.

Three Mortgage Tips For Homebuyers

Fri, 25 Jun 2021 19:23:57 GMT

Whether you’re a first-time homebuyer, a young family that’s outgrown your first home, or an empty nester who has decided it’s time to downsize, there’s a best mortgage deal out there for you. But “best” doesn’t always mean the same thing. How much cash do you have for a down payment? How’s your credit rating? What’s the purchase price of the home you’re buying? Your answers to these questions and more will determine what kind of mortgage makes the most sense for you. Fortunately, the mortgage market offers a panoply of choices—so many that some homebuyers are left confused. So we’re offering a list of three tips to make mortgage shopping simple and help you hone in on the right mortgage and mortgage lender for you.

Tip #1: Examine your Financial Situation

You’ve probably been in more than one disappointing situation, shopping for a mortgage may turn out to be another, I’m afraid. Mortgage lenders do a series of numerical calculations when determining whether or not to give you a loan and at what interest rate. This process is called risk assessment. There is no way to avoid it—it’s how banks and other lending institutions stay in business. This is why it’s best to understand what factors lenders take into account when calculating how safe it is to offer you a mortgage.

First of all, your credit score figures immensely in the calculus. Have you taken a look at yours lately? Ideally, you should download a free copy of your credit report before beginning to house-hunt. The reason being, if you need to do a little credit repair , it will take a few months to make progress in boosting it. It’s important to take that into account. Bringing all your accounts up to date, even if you can only make the minimum payment due, will help improve your score. Closing credit accounts you don’t use anymore will also help.

Additionally, lenders will look at your debt-to-income ratio when making their assessment of your creditworthiness. So do whatever is in your hands to bring down your total debt before applying for a loan with them. Landing a new high-paying job would achieve the same thing, of course.

Finally, contemplate the size of your down payment. If you put down a large down payment, that changes the loan-to-value ratio on your mortgage. The more you put down on your future home, the less “risky” it’s considered by lenders.

Tip #2: Consult Multiple Types of Lender

You may not expect just how many kinds of lenders there are out there. Your local bank, where you probably keep your primary checking account, likely offers home loans and may show you some extra consideration for already being a loyal customer. Most credit unions offer mortgages to their members, as well. Mortgage brokers work with a range of lenders and may be able to find you a mortgage solution. Online lenders have thrived in recent years and typically offer greater convenience and may speed up the application, pre approval, and approval stages of the mortgage process for you. But the point is to browse around. Just make sure the lenders you speak with do not make a hard credit inquiry on you before you actually apply for the loan. Each hard credit inquiry has the potential to lower your credit score, this is something you want to prevent.

Tip #3: Set Realistic Expectations

What you don’t want, particularly in today’s competitive market, is to be slowed down by being turned down for a loan. Try to make an accurate assessment of how large of a loan you’ll be able to obtain before you start searching for a house. Most lenders offer a pre qualification service: a non-binding estimate of how much you’ll be able to borrow and at what interest rate. That’s a good estimate to use to narrow your home choices to only those you can actually afford. You can also get a rough idea by using a home affordability calculator . But be aware that many home sellers will only entertain offers from buyers who have officially prequalified with a lender. It’s no surprise that they don’t want to waste time, either.

These are the top three tips you want to figure out before committing to a home and a mortgage. An experienced expert will be happy to walk you through your options in detail and can help you zero in on the best solution for you.

Driving in Sacramento – Everything You Need To Know

Wed, 19 May 2021 03:11:33 GMT

Posted by: Brooks Cutter from Cutter Law P.C.
Website: https://cutterlaw.com/

Sacramento, the capital of California, is nestled in between the Sacramento River and the American River. Sacramento is known as America’s “Farm-to-Fork,” with over forty local farmer’s markets filled with delicious food and local produce, especially during those summer days. Both tourists and locals are drawn to exploring the historical attractions, parks, and museums, so understanding the best ways to get around safely is essential! This guide describes all of the best places to visit, problem areas where accidents happen, and the best ways to get around.

Major Sacramento Highways and Roads

California’s state highway system has been around since 1896 when California took over the Lake Tahoe Wagon Road, now known as US 50. In 1912, California voters approved having 3000 miles of additional roadways built, leading to the dense highway system that exists in California today. In Sacramento specifically, the major highways and roads include:

I-5 (West Side Freeway) – This freeway parallels the Sacramento River as it enters the city. I-5 acts as the major north-south pathway for goods and services moving along the West Coast. This is also the road responsible for guiding passengers from places like San Diego and Los Angeles to Sacramento and its growing suburbs, such as Antelope and Carmichael. I-5 is notorious for causing significant traffic delays, prompting the city of Sacramento to debate whether they should relocate the highway or create a bypass around the city.
I-80 (former US 40) – This is the area’s main east-west route, connecting Sacramento to the San Francisco Bay Area, and an easy connection to San Jose. This route formerly followed Business Loop I-80 directly into the city; however, the city rerouted the loop in the 1980s to follow the old Interstate 880 around Sacramento towards the north.
Business Loop I-80 – This freeway is the original I-80 route prior to the mid-1980s. Business Loop I-80 is known as the hidden Interstate 305 between I-80 in West Sacramento and California 99.
US 50 – This freeway is the primary road from Lake Tahoe, Carson City, and central Nevada. The road quickly changes from a two-lane mountain highway into a ten-lane freeway once it nears Sacramento. This is a cross-country road that interchanges with I-80 in West Sacramento.
California 99 (former US 99) – This road approaches Sacramento from the south, joining with Business Loop I-80, seamlessly merging into I-5 northbound. This freeway is challenging to locate without a map.
California 16 – This road is a split route, with the western part connecting California 20 in Colusa County with I-5 in Woodland. The eastern part begins at its connection with US 50 and continues southeast toward the Gold Country.
California 84 – California 84 is Jefferson Boulevard, which is a north-south road that leads from the delta north in West Sacramento.
California 160 – This is now a split route, with a portion running through downtown decommissioned in the early 2000s. The northern part is known as the North Sacramento Freeway, and the southern part follows the Sacramento River through Freeport Boulevard en route to the California Delta.
California 275 (Tower Bridge) – This road crosses the Sacramento River, linking the Tower Bridge Gateway in West Sacramento to the Capitol Mall in Downtown Sacramento. The entire road is only 0.138 miles.

Other major roads and freeways include California 65, California 113, California 104, and California 193.

With the intricacies of the California roadway system and its many state and country roads, drivers should find ease in making travel arrangements and make the most of their time in the city. There are many things both tourists and locals can do while in Sacramento.

Popular Destinations in Sacramento

California State Railroad Museum. This historic museum is more than 200,000 square feet and is among the world’s largest railway museums. When visiting this landmark, guests will find restored steam locomotives and railway coaches dating from 1862 to 1944. You can find this museum just west of I-5, on the east side of the Sacramento River:

Sacramento State Capitol Museum. This structure was built in the 1860s and is one of the most visited attractions in Sacramento showcasing gorgeous Neoclassical architecture. Here, visitors can also see colorful gardens, tall palm trees, and many other tree and plant species from around the world on the grounds. Inside and out, this one of the most beautiful Capitol buildings in the United States. The building is in the heart of downtown Sacramento, just south of the area known as the “Mansion Flats” and past the Tower Bridge:

Old Sacramento. Old Sacramento spans over eight blocks, tallying up to a whopping 28 acres. The area is lined with over 50 historic buildings all across the city’s waterfront and is designated as a National Historic Landmark. The area also includes the Old Sacramento State Historic Park, which has some Gold Rush-era structures, such as the Eagle Theater, built in 1849. The historic Old Sacramento buildings continue to be occupied by over 125 locally-owned shops, hotels, restaurants, and museums, making it a perfect destination for both tourists and locals. Some activities in Old Sacramento include taking a horse-drawn carriage ride, hopping on a riverboat excursion, or climbing onboard a vintage locomotive.

Crocker Museum of Art. This museum holds an incredible collection of art ranging from the Gold-Rush era to the present day. Exhibits include European paintings, drawings, and American photography. The museum is named after Margaret Crocker who donated the original collection, creating the backbone of the museum. The museum’s main building is the Italianate Victorian-era mansion, known as a California historical landmark, and it’s listed on the National Register of Historic Places. The museum was founded in 1885, making it the oldest art museum west of the Mississippi River. Located south of the Tower Bridge, just east of I-5, this museum is a must-see when in Sacramento:

A Guide To The Suburbs Of Sacramento

Fri, 12 Mar 2021 02:41:03 GMT

Rico Rivera is the owner of Silicon East Real Estate and is a member of the California.com Recommended Business Program , which highlights only the best businesses in the Golden State. To be featured, each business must be highly regarded, have a unique California story, and make a positive impact in their community.

The Greater Sacramento area is full of diversity, natural beauty, and opportunity, making it a highly coveted destination to visit and live in. California’s state capital typically draws much of the attention thanks to its unique blend of Victorian architecture, Gold Rush history, and farm-to-fork restaurants, but the suburbs of Sacramento offer their own charm, too. From small towns with great hiking trails to larger locales with easy access to Sacramento’s amenities, the suburbs of Sacramento, California, have something for everyone.

Located within driving distance of the city of San Francisco, the mountainous landscape of Lake Tahoe, and the beaches of the Pacific Coast, the Greater Sacramento region allows residents to experience the best of California. Unlike other metro areas of the state, however, the best suburbs of Sacramento don’t sacrifice space in exchange for its prime location—you can enjoy a large backyard where your dogs can run free, an urban downtown, and close proximity to the incredible nearby destinations.

Whatever you want to do this weekend, you can do it from Sacramento. You can be at the beach in an hour and a half or, if you wake up and want to go to Tahoe, you can get there in the same amount of time—Sacramento is close to everything. So, whether you’re moving from the Bay Area to the Sacramento region for work, searching for a town with great schools, or just looking for a spot where you can partake in your favorite outdoor adventures, these are the cities to check out now.

The Best Suburbs Of Sacramento

Everything You Need To Know About Moving To Sacramento From The Bay Area

Fri, 12 Mar 2021 02:37:29 GMT

If you’re living in the Bay Area and moving to Sacramento, there are several factors to keep in mind. For people leaving San Francisco in search of a somewhat slower lifestyle that doesn’t sacrifice the city’s amenities or the proximity to the Golden State’s diverse landscape, Sacramento offers an ideal solution. While the temperatures tend to be higher and there is significantly more pollen in the “City of Trees” than there is in the Bay Area, the large lot sizes, lower costs, and natural wonders more than make up for it. These are the other factors you should think about before deciding which Sacramento real estate property is right for you.

WHAT YOU SHOULD KNOW ABOUT MOVING TO SACRAMENTO FROM THE BAY AREA

California Prop 19 and The Sacramento Emergency Rental Assistance with Rico Rivera and Erin Teague

Tue, 09 Mar 2021 23:44:02 GMT

In this episode I interview Erin Teague, The Government Affairs Director for #TheSacramentoAssociationofRealtors . We talk about #Prop19 and The Sacramento Emergency Rental Assistance program for Renters and Investors affected by #Covid19 . If you own a home or are in the Real Estate Industry this episode is for you!

#ricoriverarealtor

#siliconeastrealestate

#GuideRealEstate

#SARmastersclub

#fulltimerealtor

Zillow acquires ShowingTime, What that means for Realtors!

Fri, 05 Mar 2021 23:41:09 GMT

In this episode I interview Bill Miller ~ CEO of MetroList MLS. We speak everything you need to know about Showingtime and Zillows acquisition. Learn how to turn off ShowingTime if you do not want to use it. If you're a Realtor in Northern California this one's for you!

Make the most of the season by following these simple guidelines

chris.ha@bullsai.com (chris.ha@bullsai.com ) — Fri, 05 Mar 2021 16:48:03 GMT

The new season is a great reason to make and keep resolutions. Whether it’s eating right or cleaning out the garage, here are some tips for making and keeping resolutions.

Make a list

Lists are great ways to stay on track. Write down some big things you want to accomplish and some smaller things, too.

Check the list regularly

Don’t forget to check in and see how you’re doing. Just because you don’t achieve the big goals right away doesn’t mean you’re not making progress.

Reward yourself

When you succeed in achieving a goal, be it a big one or a small one, make sure to pat yourself on the back.

Think positively

Positive thinking is a major factor in success. So instead of mulling over things that didn’t go quite right, remind yourself of things that did.

Keep in touch with site visitors and boost loyalty

chris.ha@bullsai.com (chris.ha@bullsai.com ) — Fri, 05 Mar 2021 16:48:03 GMT

There are so many good reasons to communicate with site visitors. Tell them about sales and new products or update them with tips and information.

Here are some reasons to make blogging part of your regular routine.

Blogging is an easy way to engage with site visitors

Writing a blog post is easy once you get the hang of it. Posts don’t need to be long or complicated. Just write about what you know, and do your best to write well.

Show customers your personality

When you write a blog post, you can really let your personality shine through. This can be a great tool for showing your distinct personality.

Blogging is a terrific form of communication

Blogs are a great communication tool. They tend to be longer than social media posts, which gives you plenty of space for sharing insights, handy tips and more.

It’s a great way to support and boost SEO

Search engines like sites that regularly post fresh content, and a blog is a great way of doing this. With relevant metadata for every post so search engines can find your content.

Drive traffic to your site

Every time you add a new post, people who have subscribed to it will have a reason to come back to your site. If the post is a good read, they’ll share it with others, bringing even more traffic!

Blogging is free

Maintaining a blog on your site is absolutely free. You can hire bloggers if you like or assign regularly blogging tasks to everyone in your company.

A natural way to build your brand

A blog is a wonderful way to build your brand’s distinct voice. Write about issues that are related to your industry and your customers.

Tips for writing great posts that increase your site traffic

chris.ha@bullsai.com (chris.ha@bullsai.com ) — Fri, 05 Mar 2021 16:48:00 GMT

Write about something you know. If you don’t know much about a specific topic that will interest your readers, invite an expert to write about it.

Speak to your audience

You know your audience better than anyone else, so keep them in mind as you write your blog posts. Write about things they care about. If you have a company Facebook page, look here to find topics to write about

Take a few moments to plan your post

Once you have a great idea for a post, write the first draft. Some people like to start with the title and then work on the paragraphs. Other people like to start with subtitles and go from there. Choose the method that works for you.

Don’t forget to add images

Be sure to include a few high-quality images in your blog. Images break up the text and make it more readable. They can also convey emotions or ideas that are hard to put into words.

Edit carefully before posting

Once you’re happy with the text, put it aside for a day or two, and then re-read it. You’ll probably find a few things you want to add, and a couple more that you want to remove. Have a friend or colleague look it over to make sure there are no mistakes. When your post is error-free, set it up in your blog and publish.

Sacramento CA, Market Update Feb 2021

Fri, 12 Feb 2021 23:38:29 GMT

Sacramento Real Estate is CRAZY Hot right now! Who do you know that wants to sell their home in the near future?

What's the difference between Homeowners Insurance and a Home Warranty. Great tips from Cristi Rodda

Thu, 11 Feb 2021 23:33:21 GMT

In this is interview I speak with Cristi Rodda a Farmers Insurance Agent. She tells us the difference between a Homeowners Insurance vs a Home Warranty. She also gives great tips on how you can save money with your insurance company during this pandemic.

MetroList update, Prospector +. Learn from the CEO Bill Miller & VP Dave Howe, Interviewed by Rico

Sun, 07 Feb 2021 23:28:48 GMT

MetroList updates to Prospector +. We here directly from the CEO Bill Miller and the VP Dave Howe all about the update and how it's going to benefit the MetroList members.

Why you need to use a Title and Escrow Company when buying or Selling your house.

Sun, 07 Feb 2021 23:25:01 GMT

What Is a 1031 Exchange and How Does It Work? With James Callejas and Rico Rivera Realtor

Sun, 07 Feb 2021 22:51:52 GMT

In this video I interview James Callejas from IPX1031 Exchange. We speak about how to save money when downsizing your home or buying other property through a 1031 Exchange. Lots of amazing tips from Rico Rivera and James Callejas.

Real Estate Disclosures from one of the best in the industry Robert Brand. Interviewed by me Rico

Wed, 04 Nov 2020 22:13:00 GMT

In this video I interview Robert Brand the best real estate disclosures info instructor in California.

Moving from the Bay Area to the Greater Sacramento Area?

Wed, 04 Nov 2020 21:39:48 GMT

If you're a Realtor and have clients moving to the Greater Sacramento Area I can help them and give you a killer referral fee. Call me asap 916-254-8448 cell

Realtor Safety tips from Tracey the Safety Lady and Rico Rivera Realtor

Wed, 04 Nov 2020 19:19:59 GMT

In this episode I interview Analyn Miller author of Play to their strengths & incredible Parents. She gives us some awesome tips on Homeschooling during this pandemic.

How to deal with your kids while going to virtual school. Tips from author Analyn Miller.

Wed, 04 Nov 2020 19:14:20 GMT

In this episode I interview Analyn Miller author of Play to their strengths & incredible Parents. She gives us some awesome tips on Homeschooling during this pandemic.

Rico Rivera Realtor interviews future NBA player Josiah Johnson. Learn what it takes to succeed!

Wed, 04 Nov 2020 18:58:33 GMT

I've know Josiah since he was a little kid and his passion for the game of Basketball is amazing. We talk about what he does to stay focus. We can all learn from this young individual.

How to organize your space prior to selling your home or during a pandemic with Rico Rivera & Karrah

Wed, 04 Nov 2020 18:54:21 GMT

Learn the power of organizing your space before you sell your home or during a pandemic. We can all take a little advice from Karrah Smith. She's been featured on the hit TV show Hoarders. Her business is located in the greater Sacramento area.

Rico Rivera Realtor interviews Chloe Johnson from Major Views Marketing on the power of Social Media

Wed, 04 Nov 2020 18:51:31 GMT

Chloe Johnson a 13 year old young lady helping her Dad Chris Johnson navigate the Social media marketing aspect of things. Learn the power of TikTok and Instagram Reels.

What's the difference between Probate and having a Will? Eric Meyer and Rico Rivera Realtor explain

Tue, 03 Nov 2020 21:33:59 GMT

Eric Meyer and I go over the pros and cons to getting a Family Trust. Also what it really means to go through Probate and if a Will is enough to get out of going through probate.

Apex Site Solutions is hiring! Call CJ Salas or Rico Rivera Realtor

Tue, 03 Nov 2020 21:25:13 GMT

In this video my buddy CJ Salas talks about hiring and the culture of Apex Site Solutions. If you're looking for a job in the Northern California area. Give CJ Salas a call!

Welcome to Midtown Sacramento Ice Blocks. Check out Shake Shack and other area amenities

Tue, 20 Oct 2020 21:19:11 GMT

In this video, I explain what awesome new restaurants and shops we have around Midtown Sacramento inside the Ice Blocks Building. Everything from Shake Shack to Philz Coffee, Milk Money, Mendocino Farms and much much more.... Check it out!

How can I buy a Home with my 401K?

Wed, 15 Jul 2020 20:59:24 GMT

Silicon East Sacramento Vlog w/ Rico Rivera as your Host and Larry Stiver as your featured guest.

In this episode we go over why a business owner should have a 401K and what benefits it can provide to his/her employees. We also talk about how you can use your 401K to purchase your next home.