Category — Videos

If there is one conversation dominating real estate right now in Sacramento, it’s definitely the shortage of listings. It’s wild to think there is only about a one-month supply of inventory on the market. This means buyers have had to duke it out (not literally) to get into contract. Also, multiple offers and offers over asking have become much more common too.

But why is inventory low? Is it because of a coming “wave” of foreclosures or a “shadow” inventory? Do sellers have less confidence in the market? Do banks have something to do with it?

I talked with Eric Peterson of Praxis Capital about the issue of low inventory. Eric’s company pays very close attention to the market as they flip about 125 houses a year in the Greater Sacramento area. Watch the video below (or here).

What do you think? Anything else you’d add? Is there a looming shadow inventory? If you are an agent, buyer or seller, what’s it been like in the trenches for you lately?

If you have any questions or Sacramento area real estate appraisal or property tax appeal needs, contact me by phone 916-595-3735, email, Twitter, subscribe to posts by email or “like” my page on Facebook

Did you wake up this morning with condominiums on your mind? Probably not, but I wanted to highlight a crash course video on some of the nuts and bolts of condo real estate transactions. This is really good stuff and I hope you find it helpful.

The video below highlights Realtor Bruce Slaton and it deals with some of the most common financing challenges and HOA issues that condominiums tend to face. It’s really an excellent quick intro to condominiums. The presentation was geared toward Realtors at the Sacramento Association of Realtors, but the information is still solid and relevant for others too. Bruce shares some interesting condo nuggets too that many may not be aware of. His presentation is about twenty minutes and begins at 5:07 and ends at 26:18. If you are pressed for time, just listen to the video in the background while you work. Watch below or here (video starts right at 5:07).

For more information you may wish to check out two previous articles I wrote entitled ”5 Potential Deal Killers for Condo Loans” and “What’s the difference between a condominium and townhome” (there is so much confusion about this).

What do you think of the video? Anything stand out to you?

If you have any questions or Sacramento area real estate appraisal or property tax appeal needs, contact me by phone 916-595-3735, email, Twitter, subscribe to posts by email or “like” my page on Facebook

Here is a quick video of some of the most common FHA repairs I encounter during appraisal inspections in the Sacramento area. In this video I quickly talk through 25 repair items while scrolling through photos. This is good information for real estate agents, investors and home owners since FHA is so dominant in the market. I hope this is helpful. Watch the video below (or here) and check out other FHA appraisal articles if you wish. Any questions or insight?

If you have any questions or Sacramento area real estate appraisal or property tax appeal needs, contact me by phone 916-595-3735, email, Twitter, subscribe to posts by email or “like” my page on Facebook

The Sacramento Business Journal interviewed me about using video in business as a marketing tool. The article published a few days ago and it turned out great. I am very honored to have had the opportunity. In addition to the print story, a reporter and photographer came to my office for a quick video shoot on tips for creating effective videos. The reporter also highlighted local video all-stars Heather Ostrom, Tamara Dorris and Kerry Shearer. In case you missed it, check out the article here and watch the video below (or here). Photo by Dennis McCoy of the SacBiz Journal.

Do you use video in business? Why? Why not?

If you have any questions or Sacramento area real estate appraisal or property tax appeal needs, contact me by phone 916-595-3735, email, Facebook, Twitter or subscribe to posts by email.

There is so much confusion about which form to fill out when appealing your property taxes in Sacramento County. In the video I explain the difference between the Proposition 8 “Decline in Value” form and the Application for Changed Assessment. I give advice on which form to fill out and hopefully give a clear explanation of which one of these forms is actually an appeal (only one of them). Every year I see property owners lose money because they filled out the wrong form or frankly knew too little about the appeals process, so I hope this is helpful. Watch the video below (or here).

What do you think? Any questions?

If you have any questions or Sacramento area real estate appraisal or property tax appeal needs, contact me by phone 916-595-3735, email, Facebook, Twitteror subscribe to posts by email.

Does code enforcement use Google Earth? It’s pretty obvious if they did, they might find a “recycling” operation going on at this home in Sacramento County. I came across this one the other day while talking to an investor on the phone. It’s hard to say what has been happening for sure at this property, but it smells like a chop shop at first glance. What does it look like to you?

There are definitely areas where most backyards and front yards tend to be filled with debris, but that’s not the case in this neighborhood. As you can see from an expanded aerial view, most houses are not hosts to yard junk.

Clutter and property value: On a serious note, cluttered houses tend to drive down property value around them. I’m not being judgemental or targeting certain people at all. This is simply true. After all, nobody wants to live next to a perpetually unkempt property because it’s a hotbed for all sorts of issues. It’s true that theoretically a house can only contain clutter in the rear yard and have no evidence of an issue from the front. However, if there’s an issue with hoarding or something illegal going on (not just a lack of ability to care for a house), it’s not uncommon to see evidence from the front yard too. I guess it’s a bit like life. We can put our best foot forward and hide our issues, but eventually they’ll come out.

Hoarder House Video Tour: Here is a video tour of a hoarder house I inspected a while back. It’s amazing to see how much clutter can fill one house (and sad at the same time). Watch the video below or here. Yes, I had permission from my client to shoot this video.

Isn’t it amazing what we can find out about activity in houses while online? Have you seen something similar before? How have you seen unkempt front or rear yards impact a neighborhood or street?

If you have any questions or Sacramento area real estate appraisal or property tax appeal needs, contact me by phone 916-595-3735, email, Facebook, Twitter or subscribe to posts by email.

It’s interesting to see the sales history of a 4-plex subdivision in South Sacramento. There are 30 units off 24th Street in the Meadowview area and only 3 out of 30 units have not transferred in the past 4-5 years. Or in other words, 90% of units have sold in recent years. The purple dots below represent sales over the past 3 years and sales beyond that were labeled accordingly.

What does this tells us? This shows me how much turnover there has been since the bubble burst. For example, one unit sold for $560,000 in 2006 and then resold in 2011 for $155,000. It used to be really difficult to pick up a fourplex under $400,000, but that’s not the case anymore. Also, I’m reminded of investment strategy as well as risk. Some investors make purchases and then sit on them for the long haul before reselling, whereas others are looking to purchase and then resell in a relatively short time period.

Mistakes Investors Make: By the way, here is a video I did with Sacramento real estate broker Joel Wright on mistakes investors sometimes make when purchasing real estate. I think we saw some of the mistakes Joel mentioned

Holes in a Fourplex: I inspected one of these units years ago and it was an odd situation since there were actually large holes in the walls of each unit big enough to let me access the entire fourplex. I could simply make my way through each hole to get to the next attached unit. This was actually a bit on the creepy side though since the property was powerless, stripped and clearly had a problem with squatters.

Was it still four units or just one big unit? 

If you have any questions or Sacramento area real estate appraisal or property tax appeal needs, contact me by phone 916-595-3735, email, Facebook, Twitter or subscribe to posts by email.

As promised, here is Part II of a video I shot a few months back in December of a Sacramento fixer house awaiting a flip. This one definitely needed some loving and over the past few months it’s been completely rehabbed. If you remember, this house actually had $48,000 in code enforcement fines too. Thankfully a remodel like this helps improve the image of the neighborhood and it drives out squatters too. I met up yesterday with a friend at Housing Group Fund to walk through the house to see the after version. Enjoy some before and after pics throughout the video. If you subscribe by email, click here to see the video. What do you think?

If you have any questions or Sacramento area real estate appraisal or property tax appeal needs, contact me by phone 916-595-3735, email, Facebook, Twitter or subscribe to posts by email.

How do you know if you’re overbuilding? Here are ten signs for your mental checklist if you’re considering a significant addition to the size of your home.

You are overbuilding…

1. If your house is going to be twice as large as all others in the neighborhood.
2. If you no longer need Neighborhood Watch because your house towers over all others and is a watchtower in and of itself.
3. If you have double the bedrooms of other homes in the neighborhood.
4. If your house is mistaken for a motel or residential care facility.
5. If you can see in every backyard on the street.
6. If what you are building will yield little value in the resale market.
7. If the larger size removes the rear yard and thus creates a negative for buyers.
8. If prospective buyers think “Yikes, what were they thinking?” or “I would not want to live next to THAT house.”
9. If shade from your house lowers energy bills for neighbors on every side.
10. If buyers don’t have the expectation for such a large house in the neighborhood.

Obviously some of the points are only for fun, but you get the gist. If what you are doing is not consistent with the look and feel of the neighborhood as well as the expectations of the marketplace, then you’re probably overimproving your property. Watch a fun 30-second clip below of an overbuilt house I saw in Sacramento (and here is another in Woodland).

Anything you’d add to the list?

If you have any questions or Sacramento area real estate appraisal or property tax appeal needs, contact me by phone 916-595-3735, email, Facebook, Twitter or subscribe to posts by email.

I caught up with Sacramento Realtor Chris Little recently and asked him to share a few thoughts on what is going on in the real estate market. In the video interview below (or here) Chris talks about prices, affordability, low inventory and other facets of real estate. Chris knows the market well and he’s been a huge advocate for progress in the Sacramento area too.

Chris Little was appointed to the American River Parkway Advisory Committee in 2007 by the Sacramento County Board of Supervisors, and was also appointed to the 65th Street Redevelopment Advisory Committee in 2008. He received the Civic Affairs Award from the Sacramento Association of Realtors for community service, and he has been a Director through the Sacramento Association of Realtors since 2009 (and he’s the current 2012 President-Elect). I mention these things because community service is extremely important to me, and Chris is a great example. Catch up with Chris Little at 916-698-1961, www.ChrisLittleSells.com or Twitter.

If you have any questions or Sacramento area real estate appraisal or property tax appeal needs, contact me by phone 916-595-3735, email, Facebook, Twitter or subscribe to posts by email.

To give comps or not give comps? That is the question. I met up with Realtor Steve Ostrom last week and we talked about whether a real estate agent should give an appraiser “comps” or not when meeting the appraiser at the inspection. Steve talked about why he always meets the appraiser at the property and I gave some tips for interacting with appraisers around this issue. Due to HVCC, there is still some confusion over whether agents can even talk to appraisers, but they definitely can (just don’t try to pressure for a certain value). Check out the video below (or here). Let me know what you think. I’d love to hear from other agents and appraisers especially. Any questions?

NOTE: In quite a few cases the “comps” provided by real estate agents are really not all that “comparable” to the subject property. It can be valuable when agents share their market insight with appraisers, but my advice to agents is to make sure the sales really are comparable and located in the same market area. This comes back to the difference between a property that is truly competitive / comparable (“comp”) to the subject and a sale that meets a certain price level.

If you have any questions or Sacramento area real estate appraisal or property tax appeal needs, contact me by phone 916-595-3735, email, Facebook, Twitter or subscribe to posts by email.

I met up with Realtor Steve Ostrom today to talk about what’s been happening in the Sacramento real estate market. Steve focuses on Roseville and Rocklin, but he also lists properties all over Sacramento. He sits on the Board of Directors at the California Association of Realtors and he really knows his stuff. Steve and I talked about inventory levels, multiple offers, distressed sales, flippers and more. The main question was, “What’s happening in the real estate market?” Watch or listen to our conversation below (or here) to get a glimpse of how the market has felt lately in the Sacramento area.

What do you think? Have you seen something similar? Why do you think inventory has been down?

By the way, this video marks the debut of my beardless look for 2012. I suppose it’s a resolution of sorts, but I decided it was time for my “distinguished” beard color to go away – at least for this year. Since shaving the gray, not one person has said, “Ryan, you really shouldn’t have done that,” so I know it was the right season to let the razor win. I know you don’t come here to hear about my face, but I just wanted to put this out there publicly so there is some internet accountability in case you see a beard creep back into my life this year.  Anyone make a similar resolution?

If you have any questions or Sacramento area real estate appraisal or property tax appeal needs, contact me by phone 916-595-3735, email, Facebook, Twitter or subscribe to posts by email.