Tuesday, October 27, 2009

Retire in 10 years

I wanted to show someone now that a person who has 100k now and just an average income how to retire in 10 years. I have been finding properties FOR SALE IN THE SACRAMENTO CA area that are selling for 70k or less. The amazing thing about this is that the rents on these houses are still $1000.0 to $1150.0 per month. I have caculated that if you were to put 25% down your loan amount is $52,500.0. A payment on that loan amount for 10 years at 6% is $712.0 per month. This payment includes P.I.T.I. If the rent is $1150.0 per month and you take away a $150.0 per month for property management and utilities you still have a positve cash flow of $288.0 per month. These are all homes that once sold for 200k. If you buy six of these homes over the next 12 months, you would have $1728.0 of positve cash flow along with the fact that you will own these 6 homes free and clear in 10 years. I would be conservative and say that these homes would be worth 150k in 10 years. You would have 900k in equity and $6000.0 per month in net income.I think you could at least work part time with this income or even retire.

Thursday, October 22, 2009

A sellers market in Sacramento CA

I am sure that a person who hasnt kept up with the real estate market will be shocked that I am now declaring this a sellers market. The number of HOMES FOR SALE IN CITRUS HEIGHTS CA TO SACRAMENTO CA has droped even more in the last month. I just researched the zip code of 95621 and found out that there is only a two and a half months SUPPLY OF HOMES FOR SALE IN CITRUS HEIGHTS. I also researched the SACRAMENTO CA zip code of 95841 and found out that there is only a month and a half supply of homes for sale. It is a sellers market in the 200k and under price range because of the low supply of homes.
It is a perfect time now for the homeowner who has some equity and has a home in the 200k or under price range. A homeowner who now wants to move because they need a larger home or are moving out of the area then this is a perfect time to sell. They will probably get multiple offers on their home.They will have a large supply of homes to choose from in the higher price range. As an example, there is a nine month supply of HOMES FOR SALE IN GRANITE BAY CA. Granite Bay has larger and higher priced homes for sale. A person who buys now will get an incredible 20 or 30 year fixed mortgage rate thus helping there monthly payment to be even more affordalbe.
If you need to search for all the homes for sale from Rocklin to Sacramento, then please go to www.rocklinsacramento.com

Monday, October 19, 2009

The overall Sacramento real estate market

SACRAMENTO CA area home sales decreased 4 percent in September compared to a month ago. But bargain priced homes and lower interest rates attracted homebuyers in recent weeks, with pending sales increasing 9 percent.
The available homes on the market in the SACRAMENTO CA area declined to 5276 in September, a 52 percent drop from a year ago and a 62 percent drop from the record high in August 2007. That is making it tough for home buyers but it is giving property owners hope that prices will increase.
The median price in SACRAMENTO COUNTY is at $180,000.0 in September. A 3.7 percent decline from August. That is still higher than the February median home price of 168,700.00
Many of the zip codes in the SACRAMENTO area for homes below the 200k price have just a three month supply of homes for sale. I can tell you that in the past week I have sent in four offers on newly listed homes and each home had multiple offers and someone else had bid higher than my offer.

Saturday, October 17, 2009

Statistics on homes for sale in Rocklin CA

I just gathered all the data for the HOMES FOR SALE IN ROCKLIN CA 95765 zip code. I counted 179 active listings in that zip code. There are 100 short sale listings and 79 listings. Out of the 79 listings there are only 5 bank owned listings. There have been 119 sold HOMES IN ROCKLIN CA the last 3 months. That is an average of 40 HOMES SOLD PER MONTH IN ROCKLIN CA. That tells me that there is a 4 1/2 month supply of HOMES FOR SALE IN ROCKLIN CA. That is about an average supply of homes on the market. If it was something like 9 months supply of home for sale ,that would tell me that market still has the potential for dropping in price. The average price per square foot of the sold homes was 143 per sq. foot. Last year at the same time the average price per sq ft was 165 per sq ft. If you are looking to BUY A HOME IN THE ROCKLIN CA area, I would say that you have a very good chance at buying your home at the bottom of the market. You can search all the homes for sale in Rocklin at www.rocklinsacramento.com

Wednesday, October 14, 2009

Our Real Estate Market

The purpose of this blog is to keep track of the Rocklin, CA to Sacramento, CA real estate market. I will give my client updates on the amount of inventory in the area. I will also keep track of the number of bank owned and short sale listings. This will be very important so that you know which way home values might be going to. I will also kept clients updated on the current mortgage rates. I can tell you that the number of HOMES FOR SALE IN THE SACRAMENTO, CA area has dropped alot compared to one year ago today. It looks as if the banks are slowly releasing their inventory of homes they own. Every once in a while I will post
the deal of the week home for sale. This will be a home for sale at 30% to 50% off of appraised value.