Blog Page - Greater Sacramento Area Real Estate

Happy March Sacramento!

February 28, 2023 by mhadid Leave a Comment

There are so many fun things to do in Sacramento, CA. Keep reading for some of the fun events happening this March.

When: March 4-5, 2023

Where: 20+ Museums

“2023 marks the 25th consecutive year that Sacramento Area Museums have collaborated to present a free museum experience! This year, 20+ amazing museums located throughout the greater Sacramento area are excited to present a two-day Free Museum Weekend! Similar to last year — and in an effort to prevent large crowds — advance tickets are required, capacity is limited, and availability may fluctuate by museum.” Learn more here.

Capitol Beer Fest 2023

When: March 4, 2023

Where: Capitol Mall, Sacramento, CA 95814, United States

“Come out and help us celebrate 13 YEARS of the Capitol Beer Fest!! Expect the same high-quality event you’ve come to know and love that includes four hours of some of the nation’s best brewers, food trucks, and live music!” Learn more here.

National Geographic Live!: Keith Ladzinski Force of Nature

When: March 9, 2023

Where: Harris Center for the Arts, 10 College Parkway, Folsom, CA 95630

“Keith Ladzinski: Photographer and Filmmaker. From the towering mountains of the Himalaya to the slot canyons and stone arches of the desert, Earth is shaped by the raw power of Mother Nature. Capturing this might and majesty takes a special skill set—and a willingness to sign up for the seemingly impossible. Keith Ladzinski, adventure photographer and filmmaker, is renowned for his ability to get the shot in some of the world’s most inaccessible and inhospitable environments. His unique combination of skills makes him a natural choice for assignments that require the talents of both a top athlete and a master of photography. Ladzinski’s subjects are as varied as the dozens of countries he’s visited. He has swum with alligators in the Florida Everglades, chased tornadoes across the American Midwest, hung from massive natural arches in China, and explored the effects of climate change in Antarctica. His fearless spirit leads him to the furthest reaches of all seven continents, and his hope is that the stunning images he captures inspire new understanding of and respect for our planet.” Learn more here.

Sacramento Boat Show & Off-Road Exposition

When: March 9-12, 2023

Where: 1600 Exposition Blvd Sacramento, CA 95815 United States

“THE LARGEST POWER BOAT SHOW IN NORTHERN CALIFORNIA! ONE LOCATION. ONCE A YEAR. WITH ENOUGH COMBINED HORSEPOWER TO SEND A ROCKET TO SPACE! The Sacramento Boat Show is the largest Power Boat show in Northern California and each year thousands of boating enthusiasts visit the show to check out the latest boat models and accessories. The show features more wakeboard boats, tournament ski boats, fishing boats, family runabouts and pontoon boats than any other event in Northern California. Exhibits range from boats 8 to 35 feet, houseboats up to 70 feet, and scores of accessories to enhance the thrill of the water sport and fishing lifestyle.” Learn more here.

35th Annual Spring RV Show

When: March 9-12, 2023

Where: 1600 Exposition Blvd Sacramento, CA 95815 United States

“The largest display of the best Sacramento area RV dealers. Over 35 years of bringing the best of rvs at the best prices. Again joining the boat association to bring you 2 shows for the price of 1. Don’t miss Sacramento’s premier boat and RV event!!” Learn more here.

Shamrock’n Weekend

When: March 11-12, 2023

Where: Sutter Health Park, 400 Ballpark Dr., West Sacramento, CA 95691

“Get a little run in before you party it up on St. Patrick’s Day! The Shamrock’n Weekend includes a Leprechaun Dash, 5K, 10K, and half-marathon options. Can’t make it to Sacramento to race? Make your own lucky course and run at your own pace. Saturday promises to be a day of fun! Run or walk the 5K or 10K and then enjoy watching the little ones chase a Leprechaun for the half-mile Dash. Rock to the music on the course, finish on the field and enjoy post-race festivities, beer and food. On Sunday, 13.1 is filled with fun! Live music, crazy costumes, on-field finish, post-race beer and food — It’s a party you don’t want to miss! And back by popular demand is the Doubleheader. Run the 5K or 10K on Saturday plus the Half marathon on Sunday and receive a third Doubleheader medal plus a commemorative Doubleheader shirt. The sole beneficiary for the Shamrock’n weekend is Sacramento-based Triumph Cancer Foundation.” Learn more here.

St. Patrick’s Day Parade and Festival

When: March 18, 2023

Where: Old Sacramento Waterfront

“If it’s the Luck of the Irish you’re looking for, come find it at Old Sacramento Waterfront! A parade, live musical entertainment, outdoor beer gardens, and a chance to find Leprechauns hiding throughout the charming historic district.” Learn more here.

California Craft Beer Summit

When: March 19-22, 2023

Where: SAFE Credit Union Convention Center, 1401 K Street Sacramento, CA 95814

“The California Craft Beer Summit will be held at the Safe Credit Union Convention Center in Sacramento on March 19-22, 2023. The immersive multi-day event will include an interactive expo featuring craft beer supply chain partners and service providers, educational seminars led by industry leaders, an expanded legislative advocacy day at the State Capitol, a curated beer and food tastings where local chefs and brewers collaborate on pairings.” Learn more here.

Quilt, Craft, & Sewing Festival

When: March 23-25, 2023

Where: 1600 Exposition Blvd Sacramento, CA 95815 United States

“At the Quilt, Craft & Sewing Festival you will find a wide variety of Sewing, Quilting, Needle-Art, and Craft supply exhibits from many quality companies.” Learn more here.

Midtown Farmers Market

When: Every Saturday, 9:00 am – 1:00 pm

Where: 20th Street between J & L streets and K Street between 19th and 21st streets

“Owned by the Midtown Association, this free, family-friendly market takes place year-round, every Saturday, on 20th street between J and L streets and on K Street between 19th and 21st streets. The Midtown Farmers Market showcases local agriculture, prepared foods, and artisans and crafters while providing an opportunity for Midtown residents and business owners to discover regionally grown foods.” Learn more here.

Folsom Farmers Market

When: Every Saturday, 8 a.m. to 1 p.m., year-round!

Where: Located in the Historic District Plaza.

“Saturday Farmers Market around the Historic Railroad Turntable and Public Plaza in Historic Folsom every Saturday, 8 a.m. to 1 p.m., year-round! Over 40+ farmers/vendors represented. Local Produce & Live Music. Located in the Historic District Plaza. Certified farmers’ locally grown seasonal fruits and vegetables. Freshly made baked goods, fresh eggs and dairy items, live music and so much more! PUBLIC PARKING: Please park in the parking structure located at 905 Leidesdorff Street at the corner of Reading Street and Leidesdorff Street.” Learn more here.

*event times and dates are subjected to change*

Ask the Experts: What Are the Challenges the Housing Market is Facing?

February 21, 2023 by mhadid Leave a Comment

The biggest challenge the housing market’s facing is how few homes there are for sale. Mark Fleming, Chief Economist at First American, explains the root causes of today’s low supply:

“Two dynamics are keeping existing-home inventory historically low – rate-locked existing homeowners and the fear of not finding something to buy.”

Let’s break down these two big issues in today’s housing market.

Rate-Locked Homeowners

According to the Federal Housing Finance Agency (FHFA), the average interest rate for current homeowners with mortgages is less than 4% (see graph below):

But today, the typical mortgage rate offered to buyers is over 6%. As a result, many homeowners are opting to stay put instead of moving to another home with a higher borrowing cost. This is a situation known as being rate locked.

When so many homeowners are rate locked and reluctant to sell, it’s a challenge for a housing market that needs more inventory. However, experts project mortgage rates will gradually fall this year, and that could mean more people will be willing to move as that happens.

The Fear of Not Finding Something To Buy

The other factor holding back potential sellers is the fear of not finding another home to buy if they move. Worrying about where they’ll go has left many on the sidelines as they wait for more homes to come to the market. That’s why, if you’re on the fence about selling, it’s important to consider all your options. That includes newly built homes, especially right now when builders are offering concessions like mortgage rate buydowns.

What Does This Mean for You?

These two issues are keeping the supply of homes for sale lower than pre-pandemic levels. But if you want to sell your house, today’s market is a sweet spot that can work to your advantage.

Be sure to work with a local real estate professional to explore the options you have right now, which could include leveraging your current home equity. According to ATTOM:

“. . . 48 percent of mortgaged residential properties in the United States were considered equity-rich in the fourth quarter, meaning that the combined estimated amount of loan balances secured by those properties was no more than 50 percent of their estimated market values.”

This could make a major difference when you move. Work with a local real estate expert to learn how putting your equity to work can keep the cost of your next home down.

Bottom Line

Rate-locked homeowners and the fear of not finding something to buy are keeping housing inventory low across the country. But as mortgage rates start to come down this year and homeowners explore all their options, we should expect more homes to come to the market. Are you looking for a new home? Click here to contact Mo Hadid with Quest Real Estate.

Are We Heading To A Housing Crash?

February 9, 2023 by mhadid Leave a Comment

67% of Americans say a housing market crash is imminent in the next three years. With all the talk in the media lately about shifts in the housing market, it makes sense why so many people feel this way. But there’s good news. Current data shows today’s market is nothing like it was before the housing crash in 2008.

Back Then, Mortgage Standards Were Less Strict

During the lead-up to the housing crisis, it was much easier to get a home loan than it is today. Banks were creating artificial demand by lowering lending standards and making it easy for just about anyone to qualify for a home loan or refinance an existing one.

As a result, lending institutions took on much greater risk in both the person and the mortgage products offered. That led to mass defaults, foreclosures, and falling prices. Today, things are different, and purchasers face much higher standards from mortgage companies.

The graph below uses data from the Mortgage Bankers Association (MBA) to help tell this story. In this index, the higher the number, the easier it is to get a mortgage. The lower the number, the harder it is.

This graph also shows just how different things are today compared to the spike in credit availability leading up to the crash. Tighter lending standards have helped prevent a situation that could lead to a wave of foreclosures like the last time.

Foreclosure Volume Has Declined a Lot Since the Crash

Another difference is the number of homeowners that were facing foreclosure when the housing bubble burst. Foreclosure activity has been lower since the crash, largely because buyers today are more qualified and less likely to default on their loans. The graph below uses data from ATTOM to show the difference between last time and now:

So even as foreclosures tick up, the total number is still very low. And on top of that, most experts don’t expect foreclosures to go up drastically like they did following the crash in 2008. Bill McBride, Founder of Calculated Risk, explains the impact a large increase in foreclosures had on home prices back then – and how that’s unlikely this time.

“The bottom line is there will be an increase in foreclosures over the next year (from record level lows), but there will not be a huge wave of distressed sales as happened following the housing bubble. The distressed sales during the housing bust led to cascading price declines, and that will not happen this time.”

The Supply of Homes for Sale Today Is More Limited

For historical context, there were too many homes for sale during the housing crisis (many of which were short sales and foreclosures), and that caused prices to fall dramatically. Supply has increased since the start of this year, but there’s still a shortage of inventory available overall, primarily due to years of underbuilding homes.

The graph below uses data from the National Association of Realtors (NAR) to show how the months’ supply of homes available now compares to the crash. Today, unsold inventory sits at just 2.7-months’ supply at the current sales pace, which is significantly lower than the last time. There just isn’t enough inventory on the market for home prices to come crashing down like they did last time, even though some overheated markets may experience slight declines.

Bottom Line

If recent headlines have you worried we’re headed for another housing crash, the data above should help ease those fears. Expert insights and the most current data clearly show that today’s market is nothing like it was last time. Looking for more information or ready to move? Connect with Mo Hadid at Quest Real Estate.

Is It Time To Sell Your Home This Upcoming Spring?

February 8, 2023 by mhadid 1 Comment

The biggest challenge in the housing market right now, and likely for years to come, is how few homes there are for sale compared to the number of people who want to buy. That’s why, if you’re thinking about selling your house, this is a great time to do so. Your house would be welcome in a market that has fewer homes for sale than it did in the years leading up to the pandemic.

According to the latest Monthly Housing Market Trends Report from realtor.com:

“There were 65.5% more homes for sale in January compared to the same time in 2022. This means that there were 248,000 more homes available to buy this past month compared to one year ago. While the number of homes for sale is increasing, it is still 43.2% lower than it was before the pandemic in 2017 to 2019. This means that there are still fewer homes available to buy on a typical day than there were a few years ago.”

The graph below shows how today’s inventory of homes for sale compares to recent years:

What Does This Mean for You?

Fewer homes for sale means buyers have fewer choices than they did prior to the pandemic—and that frustration is leading some to give up on the homebuying process altogether. But with mortgage rates sitting lower than they were at the peak last fall, more buyers are willing to come back into the process—they just need to find homes to buy. This is welcome activity for the spring market, especially if you’re thinking of selling your house.

With a renewed interest in buying a home for many, the New York Times (NYT) reports:

“Home buyers are edging back into the market after being sidelined last year . . .”

So, if you want to take advantage of a sweet spot in the market, this spring could be your shot.

Bottom Line

The housing market needs more homes for sale to meet the demand of today’s buyers. If you’ve thought about selling, now’s the time to connect with Mo Hadid at Quest Real Estate and get ready to make a move this spring.

Happy February Sacramento!

January 30, 2023 by mhadid 1 Comment

There are so many fun things to do in Sacramento, CA. Keep reading for some of the fun events happening this February.

Northern California Home & Landscape Expo

When: 2/3-2/5/2023

Where: 1600 Exposition Blvd Sacramento, CA 95815

“For 28 years, the Northern California Home & Landscape Expo has brought people from Sacramento and five surrounding counties to enjoy over 800 inspiring exhibits, featuring more than 400 companies along with DIY features, a Landscape Showcase, interior design ideas, and many special features. Whether you are planning to build, remodel, redecorate, or just need some fresh inspiration to make your home a haven, please plan to join us!” Learn more here.

Firefighters Foundation Crab Feed

When: 2/4/2023

Where: 10427 E. Stockton Blvd Elk Grove, CA 95624

“Our annual crab feed dinner will be February 4th, 2023. We will have another great night of good food and better company at the SES hall in Elk Grove. Hope to see you there for the food, drink, and raffle!

Firefighters Foundation Crab FeedTickets are now on sale for our 2023 Crab Feed. This event sells out each year. Please get tickets from our online store at www.firefoundation.net/shop” Learn more here.

Sactown’s Finest Market

When: 2/5/2023

Where: 2003 Howe Ave, Sacramento, CA 95825

“Help Sactown’s Finest Market celebrate their one year anniversary and first event of the year! They’re excited to be back at a location for a better vendor and shopper experience! Check out vintage clothes, food, jewelry, crystals, and hand crafted goods.” Learn more here.

Sacramento Kings vs. Dallas Mavericks

When: 2/10/2023

Where: Golden 1 Center, Sacramento, CA

“Watch the Sacramento Kings take on the Dallas Mavericks during a can’t miss Basketball game at the Golden 1 Center.” Learn more here.

Elk Grove Native Tree Planting

When: 2/11/2023

Where: 6400 Whitelock Parkway Elk Grove, CA 95757

“Join us to plant over 100 native seedlings along the Franklin Creek Trail. Not only will these trees provide critical wildlife habitat, they will also shade the trail, clean the air, and make the space more beautiful for all to enjoy. We provide all the necessary tools and supplies to care for trees. Participants will receive a short, hands-on training on site. After learning the tools and techniques, participants will split up into groups and begin planting trees throughout the site. Register now! The week before this event, we will send a logistics and directions email with detailed information about how to get to the site. You will receive this email ONLY if you are signed-up for this planting.” Learn more here.

Valentine Run/Walk: Race for Justice

When: 2/11/2023

Where: 2310 Watt Avenue, Sacramento, CA 95825

“Join the 20th annual Valentine Run/Walk- Race for Justice! Compete in the Kids Fun Run (1/4-mile), 1.8-mile, or 4-mile races through the picturesque Arden Park neighborhood. The event is accessible and open to racers of all ages and abilities, including participants needing wheelchair and/or stroller access. Make sure to bring along your canine friends on a leash!” Learn more here.

City of Trees Parade

When: 2/18/2023

Where: 1300 7th Street, Capitol Mall, Sacramento, CA 95814

“After the success of last year’s event, Krewe of Trees is excited to announce the second annual City of Trees Parade! It will be a dazzling showcase of Sacramento’s rich diversity and culture through the format of Mardi Gras. Local partners help pull off the massive parade this year include Louisiana Sue Presents/Fleur De Lis Charities and Sacramento Valley Spark. The Krewe (the paraders) will include 1,000 people, featuring Sacramento’s culturally diverse performance and art communities. Together we will illuminate Sacramento with floats, art cars, marching bands, poi spinners, brass bands, dancers, beads, and so much more! So grab all your purple, green, and gold (the traditional Mardi Gras colors!), and come join for all the Sacramento Mardi Gras festivities!” Learn more here.

Swan Lake with Live Orchestra

When: 2/18/2023

Where: SAFE Credit Union Performing Arts Center • Sacramento, CA

“Artistic Director Anthony Krutzkamp who has performed the work across the US and around the world, stages Tchaikovsky’s iconic Swan Lake with everything you expect from this incomparable performance plus more mystery, athleticism, and majesty. A must see show!” Learn more here.

International Wedding Festival

When: 2/26/2023

Where: 1600 Exposition Blvd Sacramento, CA 95815

“You’re engaged! It’s time to plan your wedding! The International Wedding Expo at Cal Expo will be the perfect opportunity to meet with wedding professionals for one day, at one location who are there to answer all of your wedding planning questions and plan a beautiful wedding day. At the wedding show, you will see a combination of wedding professionals, wedding planners, florists, entertainment, photo booths, venues, wedding photographers, and more. It’s time to plan the perfect SACRAMENTO Wedding! Get your tickets for the Sacramento Wedding Festival, the all-in-one event to visualize, plan and execute the wedding of your dreams.” Learn more here.

Midtown Farmers Market

When: Every Saturday, 9:00 am – 1:00 pm

Where: 20th Street between J & L streets and K Street between 19th and 21st streets

Folsom Farmers Market

When: Every Saturday, 8 a.m. to 1 p.m., year-round!

Where: Located in the Historic District Plaza.

*event times and dates are subjected to change*

Should You Wait For Mortgage Rates To Go Back Down To 3%?

January 17, 2023 by mhadid Leave a Comment

Last year, the Federal Reserve took action to try to bring down inflation. In response to those efforts, mortgage rates jumped up rapidly from the record lows we saw in 2021, peaking at just over 7% last October. Hopeful buyers experienced a hit to their purchasing power as a result, and some decided to press pause on their plans.

Today, the rate of inflation is starting to drop. And as a result, mortgage rates have dipped below last year’s peak. Sam Khater, Chief Economist at Freddie Mac, shares:

“While mortgage market activity has significantly shrunk over the last year, inflationary pressures are easing and should lead to lower mortgage rates in 2023.”

That’s potentially great news if you’re a buyer aiming to jump back into the housing market. Any drop in mortgage rates helps boost your purchasing power by bringing down your expected monthly mortgage payment. This means the lower mortgage rates experts forecast this year could be just what you need to reignite your homebuying goals.

While this opens up a window of opportunity for you, remember: you shouldn’t expect rates to drop back down to record lows like we saw in 2021. Experts agree that’s not the range buyers should bank on. Greg McBride, Chief Financial Analyst at Bankrate, explains:

“I think we could be surprised at how much mortgage rates pull back this year. But we’re not going back to 3 percent anytime soon, because inflation is not going back to 2 percent anytime soon.”

It’s important to have a realistic vision for what you can expect this year, and that’s where the advice of expert real estate advisors is critical. You may be surprised by the impact even a mild drop in mortgage rates has on your budget. If you’re ready to buy a home now, today’s market presents the opportunity to get a more affordable mortgage rate, find your dream home, and face less competition from other buyers.

Bottom Line

The recent pullback in mortgage rates is great news – but if you’re ready to buy now, holding out for 3% is a mistake. Work with Mo Hadid at Quest Real Estate to explore the options in your area and learn how today’s rates impact your goals.

Rate-Locked Homeowners

The Fear of Not Finding Something To Buy

What Does This Mean for You?

Bottom Line

Back Then, Mortgage Standards Were Less Strict

Foreclosure Volume Has Declined a Lot Since the Crash

The Supply of Homes for Sale Today Is More Limited

Bottom Line

What Does This Mean for You?

Bottom Line

Bottom Line

Mo HadidBroker & CEO

Mo Hadid
Broker & CEO