first time home buyers
My new Sacramento listing is a beautiful, move-in ready home at an affordable price. You don’t see too many homes in this price range that are updated like this, so all you fussy buyers pay attention. This home features a remodeled kitchen with newer cabinets, granite counters and mostly stainless appliances, except for the refrigerator, which is white. You’ll also find plenty of recessed lighting throughout the house.
Another astonishing feature is the open floor plan in a home that was built in 1977. All the walls are gone that separated the living room and dining room from the kitchen. It’s almost like a loft space. Not to mention, that open floor plan makes this new Sacramento listing seem like it’s a much larger house than it is, and the wood-like flooring lends an old-feel.
When you see Sacramento’s median housing price rose to $317,000 for April, you might wonder what you can buy for that and where can you buy it? Some of you might question whether we’re headed for a bubble, but that’s unlikely. Our median housing price was $374,000 at the height of the market in the summer of 2005. We’re a ways from that. Plus, lending is too restrictive now and many buyers are paying cash. If you’re thinking “bubble” forget those thoughts. Can’t blame the bubble.
Right before I received the “confirmation of closing” email for a successor trustee sale near Elk Grove, I had received bad news from my vet about our cat Horatio. Poor little guy had a bit of diarrhea, so I took him to the River City Cat Clinic in Land Park. We adopted Horatio about a month ago. The vet suggested we test him for leukemia and AIDS, since he came from a shelter. Well, the vet called yesterday afternoon to say the results came back positive.
When I was 23, I lost my Himalayan, Cairo, to leukemia. I had visited that cat daily in the hospital. He could barely stand up with tubes taped to his legs, he was so sick. I would reach through his cage and gingerly hold him, trying not to sob. He didn’t make it. I can’t do this again, is my first thought.
What home buyers don’t know about a loan contingency can come back to bite. It’s not just home buyers in Sacramento who might not understand how a loan contingency works, either, it’s also some of the mortgage lenders. I can’t count the number of times I’ve heard a mortgage loan officer tell a borrower on the due date, we’re not ready to release the loan contingency yet. What?
If I get wind of it, as a Sacramento listing agent, you can bet hell is gonna break loose. For starters, I represent the seller, not the buyer. If the buyer is not ready to release her loan contingency on the date it is due because her lender is dragging feet or her lender feels “uncomfortable,” that is not my seller’s problem. It is not my problem, either. It is the buyer’s problem.
Hey, all you Sacramento home buyers, are you ready for the spring market? This is going to be a tougher market than you’ve ever seen in your life to buy a house in Sacramento, but don’t let that little thought discourage you. Unless you’ve been working in real estate full-time with a ton of transactions under your belt, you probably are not prepared to meet the demands that this market is putting forth for you. It is not impossible to buy a house, but you better be working with an experienced buyer’s agent or you might not buy anything at all.