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.
Broker at SealTeamRealty.com
Navigating through rough terrain as a buyer
June 9, 2013
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
Broker at SealTeamRealty.com