Home Buying and Selling in Sacramento
March 2020 housing statistics for Sacramento County is certainly welcome news, per Josh Amolsch, who wrote this blog. Josh is an exclusive buyer’s agent on our team. He really brings to light the numbers and how you can apply them to your situation if you are buying or selling. Enjoy, it’s a great read. — JaCi Wallace
The first thing I noticed about the new March 2020 Housing Statistics for Sacramento County was that the median sales price for single-family homes reached $400,000. This is a 9.6% increase over March 2019. Going back to 2004 shows that this is an all-time record. The last time we were this high, besides last month, was August 2005 when the median reached $395,000. But, $400,000 may seem like a bargain when you consider the median sales price for the four-county region in March 2020 reached $440,000. Wow.
Is lot size correct on your home? This is an interesting question. Recently on a listing, the county tax agency reported on their public site, a lot size of well over an acre. As Realtors, we are not supposed to do investigation on a property at the county. An investigation is the responsibility of the buyer or seller, depending on circumstances.
Agents help facilitate inspectors but we have no qualifications to be an expert at interpreting county records. Another risk an agent takes is you deal with one person at the counter who says one thing; but, if you report this information to your client and later they find out it was incorrect, it could be an issue. The legal departments at our brokerage cringe over stuff like this.
Can a Realtor have a felony record? Well, there’s one way to find out; you can go to this link at the California Department of Real Estate License Lookup, also known as the DRE. You fill out a name or a license number.
When we receive an offer on a property, I always check the license number on the DRE site. I can make sure they have a license that is valid without any disciplinary issues or suspensions. If there are court records, you will find those documents attached. Then, the next step is MLS online to look up a buyer’s agent production numbers. It is important to know whether this is a newer agent and or does the agent have enough transactions completed to work without supervision.
Submitting home buying offers in Sacramento 2020 should be well-thought out with a strategic plan. The market is very competitive as inventory is down by a third in many areas. What does this mean for homebuyers? Perseverance is the answer. Understand your priorities. Be willing to compromise and invest in sweat equity. When buyers cling to very stringent criteria, it is a challenging journey. To have “it all,” you will pay dearly and may have to build a custom home, which is not inexpensive. However, when you buy a resale home, you are not paying top dollar for upgrades.
Should home sellers leave garbage cans full? Well, the contract specifically states the seller shall remove all debris. If we really think about it the seller stops paying the garbage bill when we close escrow. The buyer is responsible for the ongoing garbage bill. I doubt any buyer is happy to push the garbage cans to the curb full of someone else’s garbage.
Another consideration is when buyers move in, they are going to produce packing paper galore and their own garbage from moving in. They really need the garbage cans empty, so they can throw away their own stuff. This is one of the seller’s last steps to close escrow.