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Happy May!

May 2, 2022 by mhadid Leave a Comment

Happy May!

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

Mother’s Day Brunch at Esther’s Park

When: May 8th

Where: Ester Park

There’s no better way to celebrate Mother’s Day than with a brunch at Esther’s Park! Relax with live music featuring The Solid Soul Trio Band and DJ Mad Sticks, and enjoy a full buffet provided by Fixins Soul Kitchen. Specialty cocktails including mimosas also available . Bring your Mom or entire family to experience a perfect Mother’s Day experience with exceptional food and entertainment. Come out and enjoy an unforgettable Mother’s Day at Esther’s Park! For more information click here.

Country in the Park

When: May 14th-15th

Where: Cal Expo

“Join New Country 105.1 at KNCI’s Jiffy Lube Country In The Park 2022!
Enjoy live performances, outside under the stars, from Cole Swindell, Dustin Lynch, Chris Janson, Russell Dickerson, Chris Lane, Lauren Alaina, Jameson Rodgers, Tyler Rich, Niko Moon, Tenille Arts, Priscilla Block, Drew Parker, Nate Smith, and Sykamore! This is an all-ages show. Plus, enjoy FREE experiences like hometown bands performing on the Rising Country Stars Stage, a rock wall, a mechanical bull, lounges with pool tables, foosball, corn hole & more, line dancing, a relaxation pavilion, a suntan lotion bar, cooling zones, photo booths, & psychics!” For more information click here.

Sacramento Grilled Cheese Festival

When: May 14th-16th

Where: Southside Park

“A Sacramento Festival for Grilled Cheese Lovers… and let’s be honest, that’s pretty much everyone! The Sacramento Grilled Cheese Festival is a full weekend dedicated to the one food you never out grow…. GRILLED CHEESE! We’ve paired our grilled cheese with everything from craft beer to bounce houses so we’ve got something for everyone. Choose the event that fits your tastes, or come to both and experience everything grilled cheese has to offer. Saturday’s event is limited to adults 21+ and will feature UNLIMITED samples of specialty grilled cheese sandwiches, craft beers, regional wines, and desserts, plus a collectible glass, music, and games. Sunday’s event is all ages, and will feature live music, a kid zone, games, and more. Attendees can purchase sandwich samples directly from the participating restaurants.” For more information click here.

City Works Day

When: May 18th

Where: Folsom City Lions Park

“Hop into the driver’s seat of a garbage truck, climb aboard a fire engine, meet police officers, and more at Folsom’s annual City Works Day. Learn about the city’s wide variety of programs, amenities, and services during National Public Works Week.

Visitors of all ages can experience the city’s work vehicles, such as tractors, trucks, and construction equipment for viewing, exploring, and even honking. City staff will share knowledge about their programs and professions.” For more information click here.

Sacramento Broadway Tootsie

When: May 17th-20th

Where: SAFE Credit Union Performing Arts Center

“Call it “musical comedy heaven” (Rolling Stone). Call it “the most uproarious new musical in years!” (The Hollywood Reporter). Call it TOOTSIE! This laugh-out-loud love letter to the theatre tells the story of a talented but difficult actor who struggles to find work until one show-stopping act of desperation lands him the role of a lifetime. “In these turbulent times, when the world seems out of balance, we need a place to let the good times roll,” raves Rolling Stone. “TOOTSIE is it!” For more information click here.

Sacramento County Fair

When: May 26th-30th

Where: Cal Expo

“Established in 1937, The Sacramento County Fair is dedicated to the education of our community and its youth in agriculture, business and technology. This value-driven family event, strives to educate the community in a fun and safe way. Historically the Sacramento County Fair takes place during the week of Memorial Day. We are fun, affordable, and safe for the whole family! Our community enjoys our friendly atmosphere, traditional county fair competitions, agriculture displays, hands-on family activities, carnival, specialty food, & festival-style entertainment where all concerts are included in your fair admission. Let’s Eat, Have Fun, and Celebrate.” For more information click here.

Old Sacramento Underground Tour

When: Wednesday-Sunday

Where: Sacramento History Museum

“Come see and learn how Sacramento lifted itself up out of the flood waters during the 1860s and 1870s! Tour guides explain how the streets and buildings were “Jacked Up!” to avoid further flooding as visitors explore two spaces that were created by the city’s successful raising process. This historical tour includes hollow sidewalks, sloped alleyways, and the Underground spaces themselves. Our colorful cast of guides ensures no two tours are ever the same!” 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.

*Events are subjected to change*

Everything You Need to Know About Selling in a Sellers’ Market

May 1, 2022 by mhadid Leave a Comment

Even if you haven’t been following real estate news, you’ve likely heard about the current sellers’ market. That’s because there’s a lot of talk about how strong market conditions are for people who want to sell their houses. But if you’re thinking about listing your house, you probably want to know: what does being in a sellers’ market really mean?

What Is a Sellers’ Market?

The latest Existing Home Sales Report from the National Association of Realtors (NAR) shows housing supply is still very low. There’s a 2-month supply of homes at the current sales pace.

Historically, a 6-month supply is necessary for a normal or neutral market where there are enough homes available for active buyers. That puts today deep in sellers’ market territory (see graph below):

What Does This Mean for You When You Sell?

When the supply of houses for sale is as low as it is right now, it’s much harder for buyers to find homes to purchase. That creates increased competition among purchasers which can lead to more bidding wars. And if buyers know they may be entering a bidding war, they’re going to do their best to submit a very attractive offer upfront. This could drive the final price of your house up.

And because mortgage rates and home prices are climbing, serious buyers are motivated to make their purchase soon, before those two things rise further. That means, if you put your house on the market while supply is still low, it will likely get a lot of attention from competitive buyers.

Bottom Line

The current real estate market has incredible opportunities for homeowners looking to make a move. Listing your house this season means you’ll be in front of serious buyers who are ready to buy. Contact us today so you can jumpstart the selling process.

Should You Be Offering Over Asking Price in Today’s Market?

April 25, 2022 by mhadid Leave a Comment

If you’re planning to buy a home this season, you’re probably thinking about what you’ll need to do to get your offer accepted. In previous years, it was common for buyers to try and determine how much less than the asking price they could offer to still get the home. The buyer and seller would then negotiate and typically agree on a revised price that was somewhere between the buyer’s bid and the home’s initial asking price.

In today’s real estate market, buyers shouldn’t shop for a home with the same expectations.

Things Are Different Today

Today’s housing market is anything but normal. According to the National Association of Realtors (NAR), the average home that’s sold today:

Receives 4.8 offers
Sells in just 17 days

Homes selling quickly and receiving multiple offers shows how competitive the housing market is for buyers right now. This is because there are more buyers on the market than homes for sale. When the number of homes available can’t keep up with demand, homes often sell for more than the asking price.

How Does This Impact You When It’s Time To Submit an Offer?

Market conditions should help guide your decisions throughout the process. Today, the asking price of a home is often the floor of the negotiation rather than the ceiling. Knowing this is important when it’s time to submit an offer, but you should also use that information as you’re searching for homes too. After all, you don’t want to fall in love with a home that ultimately sells for a price higher than what you’ve budgeted for.

The Mortgage Reports has advice if you’re looking to purchase a home in a competitive market. The article encourages you to be realistic with your housing search, saying:

“The best thing to do is set your budget and expectations ahead of time so you know how much you can afford to offer — and when to walk away. This will make negotiations a lot easier.”

Of course, when you’ve found your dream home, you’ll want to do everything you can to submit your best offer up front and win a potential bidding war. Knowing the current market is key to crafting a winning offer. That’s where working with an expert real estate advisor becomes critical.

A real estate professional will draw from their experience and expert-level knowledge of today’s housing market throughout the process. They’ll also balance conditions in your area to make sure your offer stands out above the rest.

Bottom Line

Understanding how to approach the asking price of a home and what’s happening in today’s real estate market are critical for buyers. Contact us today so we can work together to create a winning plan for you.

Happy April!

March 29, 2022 by mhadid Leave a Comment

Happy April!

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

Big Bounce America

When: April 1-3

Where: 11070 Bradley Ranch Rd, Elk Grove CA 95624

“Welcome to the biggest, craziest touring inflatable event in the entire world! We’re inviting YOU to join us and spend some quality time with family and friends in our magical, candy-colored wonderland of action-packed inflatable adventure. Individual sessions are available to suit all age groups from toddlers through to adults only.” Learn more here.

Historic Folsom Sip and Stroll 2022

When: April 9

Where: Folsom Historic District, 929 Sutter Street

“Join us for this iconic Spring event in beautiful Historic Folsom. Attendees will receive a commemorative wine glass to sample wine at up to 25 venues as well as taste food samples from local restaurants. Live music will play throughout the district. A map to all participating venues will be provided at check in. Get ready to sip, savor and stroll!

You’ll visit shops you never knew existed and find the hidden gems of our little town. Don’t forget your wallet! Take advantage of event specials offered by our merchants and support local businesses! This is the perfect time to purchase Mother’s Day gifts, birthday gifts and more!” Learn more here.

Easter in the Park Festival

When: April 16

Where: Fourth Avenue Park, 4040 4th Avenue Sacramento, CA 95817

“Join your Oak Park community in celebrating Easter at Fourth Avenue Park, 4040 Fourth Avenue.

There’ll be music, vendors, face painting, balloons, prizes, food and (of course) over 4,000 Easter eggs, along with a visit by the Easter Bunny! The fun takes place on Saturday, April 16th from 11am til 2pm. Best of all, it’s FREE!” Learn more here.

29th Annual Sacramento SPCA Doggy Dash

When: April 23

Where: William Land Park

“On Saturday, April 23, join thousands of walkers at William Land Park and leash up your pups for the 29th Annual Sacramento SPCA Doggy Dash, the SPCA’s largest fundraiser of the year and an opportunity to celebrate their amazing commitment of the community to healthy, happy and unconditional relationships between dogs and their people!

Your registration and participation in the Doggy Dash help the Sacramento SPCA provide direct care to more than 35,000 animals each year in our community.” Learn more here.

Spring Arts and Crafts Fair

When: April 24

Where: 905 Leidesdorff St, Folsom, CA 95630

“For more than 53 years, Historic Folsom has been hosting this popular and FREE event. Need one-of-a-kind gifts for a birthday, graduation or Mother’s or Father’s Day? You’ll find it at this event. With more than 200 vendors and your favorite Historic District merchants and restaurants, make it a day with your friends and family.” Learn more here.

Sacramento Autorama

When: April 29th-May 1st

Where: Cal Expo

“The Sacramento Autorama is now in its 71st year. Over 500 show vehicles will compete for awards inside the Cal Expo buildings. The Lowrider Show Case will be in the Pavilion with over 250 custom Lowriders. Local car clubs will gather in the Butch Gardner Clubhouse located in the Expo Center. More vehicles will join the event Saturday and Sunday for the Autorama Drive-In parked in the Building A lot.” Learn more here.

Old Sacramento Underground Tour

When: Wednesday-Sunday

Where: Sacramento History Museum

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

*Events are subjected to change*

Spring Housing Market Update: What to expect?

March 29, 2022 by mhadid Leave a Comment

As the spring housing market kicks off, you likely want to know what you can expect this season when it comes to buying or selling a house. While there are multiple factors causing some uncertainty, including the conflict overseas, rising inflation, and the first rate increase from the Federal Reserve in over three years — the housing market seems to be relatively immune.

Here’s a look at what experts say you can expect this spring.

1. Mortgage Rates Will Climb

Freddie Mac reports the 30-year fixed mortgage rate has increased by more than a full point in the past six months. And despite some mild fluctuation in recent weeks, experts believe rates will continue to edge up over the next 90 days. As Freddie Mac says:

“The Federal Reserve raising short-term rates and signaling further increases means mortgage rates should continue to rise over the course of the year.”

If you’re a first-time buyer or a seller thinking of moving to a home that better fits your needs, realize that waiting will likely mean you’ll pay a higher mortgage rate on your purchase. And that higher rate drives up your monthly payment and can really add up over the life of your loan.

2. Housing Inventory Will Increase

There may be some relief coming for buyers searching for a home to purchase. Realtor.com recently reported that the number of newly listed homes has grown for each of the last two months. Also, the National Association of Realtors (NAR) just announced the months’ supply of inventory increased for the first time in eight months. The inventory of existing homes usually grows every spring, and it seems, based on recent activity, the next 90 days could bring more listings to the market.

If you’re a buyer who has been frustrated with the limited supply of homes available for sale, it looks like you could find some relief this spring. However, be prepared to act quickly if you find the right home.

If you’re a seller, listing now instead of waiting for this additional competition to hit the market makes sense. Your leverage in any negotiation during the sale will be impacted as additional homes come to market.

3. Home Prices Will Rise

Prices are always determined by supply and demand. Though the number of homes entering the market is increasing, buyer demand remains very strong. As realtor.com explains in their most recent Housing Report:

“During the final two weeks of the month, more new sellers entered the market than during the same time last year. . . . However, with 5.8 million new homes missing from the market and millions of millennials at first-time buying ages, housing supply faces a long road to catching up with demand.”

What does that mean for you? With the demand for housing still outpacing supply, home prices will continue to appreciate. Many experts believe the level of appreciation will decelerate from the high double-digit levels we’ve seen over the last two years. That means prices will continue to climb, just at a more moderate pace. Most experts are predicting home prices will not depreciate.

Won’t Increasing Mortgage Rates Cause Home Prices To Fall?

While some people may believe a 1% increase in mortgage rates will impact demand so dramatically that home prices will have to fall, experts say otherwise. Doug Duncan, Senior Vice President and Chief Economist at Fannie Mae, says:

“What I will caution against is making the inference that interest rates have a direct impact on house prices. That is not true.”

Freddie Mac studied the impact that mortgage rates increasing by at least 1% has had on home prices in the past. Here are the results of that study:

As the chart shows, mortgage rates jumped by at least 1% six times in the last thirty years. In each case, home values increased.

So again, if you’re a first-time buyer or a repeat buyer, waiting to buy likely means you’ll pay more for a home later in the year (as compared to its current value).

Bottom Line

There are three things that seem certain going into the spring housing market:

Mortgage rates will continue to rise
The selection of homes available for sale will modestly improve
Home prices will continue to appreciate, just at a slightly slower pace

If you’re thinking of buying, act now before mortgage rates and home prices increase further. If you’re thinking of selling, your best bet may be to sell soon so you can beat the increase in competition that’s about to come to market.

Rent Is Increasing Again This Year, Is it Time to Buy a Home?

March 21, 2022 by mhadid Leave a Comment

Are You Wondering if This Is the Year To Buy a Home? | MyKCM

Every year, many renters ask themselves the same question: Should I continue renting, or is it time to buy a home? If you’re a renter, chances are you’ve asked yourself that question at least once, and it’s likely because you’ve faced an increase in your monthly housing costs over time. After all, according to Census data, rents have risen consistently for decades.

To make an informed and powerful decision, the first step is understanding what’s happening in today’s housing market so you can determine which option is the better long-term financial decision for you.

Rent Is Going Up Again This Year

Rents are skyrocketing right now. Data from realtor.com shows just how much rental prices are surging throughout the country. The graph below highlights rental unit price increases over the past year:

If you’re a renter and plan on signing a new lease, your monthly costs are likely to go up when you do. Those rising costs can have a big impact on your financial goals, including any plans you’re making to save for a home purchase.

Homeownership Offers Stable Monthly Costs

Of course, one of the key benefits of owning your home is that you’re able to lock in and stabilize your payments for the duration of your loan. That’s not the case when you rent.

While rents are already on the rise, there’s a good chance many people will see their rental costs increase even more this year. As Danielle Hale, Chief Economist at realtor.com, says:

“With rents already at a high and expected to keep going up, rental affordability will increasingly challenge many Americans in 2022. For those thinking about making the transition from renting to buying their first home, rising rents will remain a motivating factor. . . .”

So, if you’re ready to become a homeowner, waiting any longer may not make financial sense. Instead, escape the cycle of rising rents and enjoy the many benefits that come with homeownership today.

Bottom Line

Starting your journey towards homeownership can pay off significantly this year. If you’re financially ready today, let’s connect so we can discuss your options.

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Mo Hadid

Happy May!

Happy May!