Real Estate Leases: Sacramento and Beyond

June 20, 2013

Renting can be a long term commitment, in some cases longer  than you anticipated. I can’t emphasize the word “research” enough as every  party involved is looking to get the most money out of their involvement.

From working throughout the industry a number of years, I’ve  seen time and time again, a tug-of-war for tenants deposit. The best way to  combat this war as a tenant is to research and document the properties  condition prior to moving in and have everything stated in writing in regards  to what can and can’t be taken from the deposit. If you have pets this  complicates things tremendously, I often seen cases where the landlord claims  they can smell pet dander (even after the carpets have been cleaned) and they  demand to keep the entire deposit citing the carpet needs to be replaced. Unfortunately  there are many cases when the carpet does in fact have to be replaced, however,  most of the time it can be treated chemically depending on if the landlord is  willing to settle for that. You see how complicated pets can make a lease? As a  renter, you should get a statement in writing explaining how exactly the smell  of pet dander will be handled which will be vary between different landlord’s.

Be sure to research the location and surroundings, this  could make or break your satisfaction of the property. If your neighbors are  loud and “ghetto”, you may end up giving too much thought into keeping your  stuff safe and your doors locked. Prior to signing a lease, I would simply  knock on the closest neighbors door and ask a few questions about the  neighborhood.

Bottom line is, do your research, know what you’re getting into, and make sure  to be the one getting the most out of your lease.

 
John Amaro
Broker at SealTeamRealty.com

Navigating through rough terrain as a buyer

June 9, 2013

With the shortage of inventory crisis looming throughout the Sacramento region, what does a buyer have to do these days to secure a winning bid?

The Sacramento and surrounding areas have seen tremendous market swings in the past ten years. Today, there is a super shortage of housing inventory throughout the region. Buyers hoping to secure a winning bid must give above and beyond what the comparable data is suggesting. We are currently seeing 50-80 bids on newer built homes around the $180,000 to $220,000 price ranges. Buyers with cash or large down payments obvious have a big upper hand because they don't necessarily have to worry about the house not appraising (but paying PMI is another story). If you're a buyer who has a limited down payment loan (like FHA or 5% down convectional), you'll simply have to downgrade your standards, take lower square footage, and/or accept an unfavorable location. Sure you can keep offering and waiting, however, interest rates are only going up from here, combined with the fact that new buyers are coming to the Sacramento region in drones, might be better to act sooner than later before you end up paying Bay area value

John Amaro
Broker at SealTeamRealty.com
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