One of the hardest decisions for a home buyer is how much to offer to buy a home in Sacramento. Buyers see the list price but it doesn’t mean much to them. Not being in the real estate business, many buyers look to their agents for advice while others soak up bad information on cable TV. All real estate is local. That means only one thing: The only advice that matters is that which pertains to the Sacramento real estate market. Not Los Angeles or Miami or Chicago.
A seller’s market persists in Sacramento. See my Sacramento Housing Market Report for February 2018. We’ve been in the midst of a seller’s market for a long time now. We have very few homes for sale. High demand. Remember your high school classes about the laws of supply and demand? When supply is low, demand goes up. When supply is high, demand goes down. Supply = house for sale. Demand = qualified, ready, willing and able home buyers.
Are you concerned about handling a situation in which interest rates increase when building a home? If not, you should be. Depending on where you are building a home in Sacramento, it could take 4 to 6 months (or longer) to finish building your home. What happens if interest rates increase when building a home? You could get socked with a much higher interest rate. The rate could be so high that it could disqualify you from buying a home. Or, put a severe crunch on your financial cash flow.
Last September, interest rates remained around 3.75%. Today, interest rates hover at about 4.30%+. Fact, every 1% an interest rate rises loses a buyer about $25,000 of purchasing power. Some buyers do not understand the direct correlation between sales price purchasing power vs interest rates. However, you should keep interest rate fluctuation in mind when buying new construction. Also, think about how you’ve locked in the price of the home when you signed the purchase contract. Sales prices may go up but your pre-negotiated home price remains stable.
Are you looking for a newer home in Hampton Station for sale in south Sacramento? This popular model is more than 2,000 square feet, and was built in 2014. Some of the homes in Hampton Station are near the light rail, but this one is not. No power lines. No train tracks. Close to Edward Kemble Preschool and Edward Kemble Elementary, with Cesar Chavez Intermediate right behind those schools. Many buyers move to Hampton Station because they want a newer home and they like the schools.
A feature you are sure to love are the cherry hardwood floors throughout most of the first level. They are simply beautiful. The flooring matches the cherry wood cabinets in the kitchen. This particular layout offers so much privacy. Much of the home in Hampton Station is sheltered toward the back from any traffic in the street, which makes it very quiet.
Do not miss out on viewing this perfect little starter home in North Highlands. Do you want affordability? How about pricing right on the nose? You know how many buyers would like to buy a home and they say they can’t find a nice house to buy in their price range? Well, that’s primarily because due to the abundance of crappy homes for sale in a super affordable price range. So many of lower priced homes need work and they won’t pass inspections for an FHA loan. Our seller purchased this home with an FHA loan 2 years ago, so you know it passed those rigid inspections.
If you’re thinking about relocating to Sacramento, you’ve definitely come to the right place. As a new buyer to the area, you owe it to yourself to find exclusive representation through a knowledgable agent. It’s a little bit harder than you would think to do it on your own. Further, there is no need to subject yourself to that kind of misery when you can align yourself with an expert for free. The problem is everybody and his uncle claims to be an expert in real estate. So, how can you tell if you’re talking with an agent who will make relocating to Sacramento easy and fun for you?