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The West Sacramento Team
McMartin Realty
2031 K Street, Suite 100
Sacramento, California 95811-4253

(916) 444-7577 office
(866) 720-CITY (2489) toll free
(916) 444-7977 fax


Featured Newer 4br home in an established Elk Grove neighborhood | Charming starter home or investment in Tahoe Park | Penthouse loft in Old Sacramento | Spotless 3br La Riviera townhome close to Sacramento State | Former model 4br home in Tiffany West | New in 2007! Tri-level 3br condo in Regency Park | Nearly 4,000sf 5br in Bridgeway Lakes with a pool | Affordable mobile home living in South Sacramento

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FHA to allow $8,000 tax credit as down payment for first-time buyers

Lenders have yet to begin putting it into practice (and there are definitely details to be worked out), but according to the NATIONAL ASSOCIATION of REALTORS®, the Federal Housing Administration (FHA) will push it's lenders to allow buyers to use the $8,000 new home buyer tax credit as a down payment.

You can read more at the NATIONAL ASSOCIATION of REALTORS® website.

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posted by Rob McQuade @ 11:27 AM, , links to this post



How Sacramento real estate ranks among California cities

Sacramento: The golden part of the Golden State

How does Sacramento compare to 11 other California real estate markets according to CNNMoney.com's REAL ESTATE 2009?

STABILITY
Home price forecast (ranked from lowest to highest expected decline through March 2010):
  1. San Jose (-4.7%)
  2. Sacramento (-7.5%)
  3. Bakersfield (-7.6%)
  4. Fresno (-7.9%)
  5. Santa Ana (-9.6%)
  6. San Diego (-9.9%)
  7. San Francisco (-10.0%)
  8. Oxnard (-10.0%)
  9. Oakland (-11.7%)
  10. Stockton (-14.5%)
  11. Riverside (-15.1%)
  12. Los Angeles (-15.3%)
Only San Jose beats Sacramento's home price stability with an expected overall home price decline of 4.7% compared with 7.5% (above). Half of California's ranked cities have expected double-digit percentage declines between March 2009 and March 2010.

HOME PRICES
Median home price (2008, lowest to highest):
  1. Bakersfield ($185,000)
  2. Fresno ($218,000)
  3. Stockton ($225,000)
  4. Riverside ($242,000)
  5. Sacramento ($250,000)
  6. San Diego ($387,000)
  7. Los Angeles ($396,000)
  8. Oakland ($400,000)
  9. Oxnard ($431,000)
  10. Santa Ana ($515,000)
  11. San Jose ($600,000)
  12. San Francisco ($755,000)
Sacramento comes in a strong 5th for median home price (above) and beats all four of the more affordable cities for median family income as well as Los Angeles (below).

INCOMES
Median family income (2008, highest to lowest):
  1. San Jose ($97,800)
  2. San Francisco ($94,300)
  3. Oakland ($86,100)
  4. Santa Ana ($84,100)
  5. Oxnard ($83,900)
  6. San Diego ($72,100)
  7. Sacramento ($71,000)
  8. Riverside ($62,000)
  9. Stockton ($61,300)
  10. Los Angeles ($59,800)
  11. Bakersfield ($50,000)
  12. Fresno ($49,900)

OVERALL AFFORDABILITY
Median home price (2008) divided by family income (ranked most to least affordable):
  1. Sacramento (3.5)
  2. Bakersfield (3.7)
  3. Stockton (3.7)
  4. Riverside (3.9)
  5. Fresno (4.4)
  6. Oakland (4.6)
  7. Oxnard (5.1)
  8. San Diego (5.4)
  9. Santa Ana (6.1)
  10. San Jose (6.1)
  11. Los Angeles (6.6)
  12. San Francisco (8.0)
Where Sacramento shines is in overall affordability as measured by the median resale price of homes divided by the median family income. Though Sacramento'd median family income is only approximately two thirds that of San Francisco, homes are roughly one third the price. According to the study, more families can afford to buy homes in Sacramento than in any other metro area in California.

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posted by Rob McQuade @ 8:20 PM, , links to this post



Before you write an offer, is that condo FHA approved?

If you're using an FHA loan to buy a condominium, are you making sure that condo you're interested in is FHA approved?

It can be challenging knowing which condo developments (and not just in ) are eligible for FHA financing. The bad news first: there are a surprising number of condos for sale that an FHA buyer can't purchase because they don't meet HUD guidelines. The good news: you can check to see if a condo development is FHA approved online and sometimes condos can get what's called a "spot waiver".

Ask your REALTOR® if he or she knows whether that condo is approved for FHA financing before you write the offer. To make sure, share these links:

LINKS

Search for FHA-approved condos
More info about HUD/FHA condo guidelines

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posted by Rob McQuade @ 8:35 PM, , links to this post



The Crisis of Credit -- Visualized

Not quite sure how what started out as a real estate boom and turned into a real estate bust (and eventually an economic bust) happened? Jonathan Jarvis does a great job of explaining the "credit crisis" in terms anyone can understand. Check out the video below or click here.


The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.

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posted by Rob McQuade @ 2:41 PM, , links to this post



FAQs: What is the California foreclosure timeline or process?

Q: What is the timeline for the foreclosure process in California? When does the process start and end?

Asked by an anonymous web visitor in East Sacramento

A: This is a question I get asked a lot by both people who are experiencing a financial hardship as well as those interested in investing in preforeclosures and who want to know what the foreclosure process looks like.

Rather than a lengthy written answer, I wanted to share a video I found online from a company that assists home owners and REALTORS® with the short sale process. Take a look:

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posted by Rob McQuade @ 2:53 PM, , links to this post



FAQs: What is Median Sales Price?

Q: What is "median sales price"? Why did the median price spike in Sierra Oaks in the middle of 2006?

Asked by Kelsey, a home buyer in the Arden area

A: Your question strikes at the heart of so many people's questions about home values, Kelsey.

The median resale price (sometimes called "median price" or "median home price") refers to the price at which half of all homes (in a given area for a certain time period) sold for more and half sold for less. If the sampling of sales isn't large enough—say for instance it's for a small geographic area or short time period—then that number can be skewed by a couple properties and may vary dramatically from period to period.

In May of 2006, Sierra Oaks (95864) had an unusually high number of homes selling for over $1 Million. While million-dollar homes aren't unusual in the area, there were four homes that sold in that price range in one month compared to the 1-3 that sold other months.

If you look at a larger area or longer period, you'll get a truer picture of things--but median resale price is an imperfect number and is a "snapshot" of what types of homes are selling at any given time, not necessarily of actual home values. This is why Sacramento's median resale price has dropped dramatically in the last several months as real estate investors and first-time homebuyers have flooded the market but the number of move-up buyers has been low (note: foreclosures and short sales don't fuel the move-up market because banks don't buy a property after selling and short-sellers are typically exiting the ownership market).

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posted by Rob McQuade @ 9:50 AM, , links to this post



FAQs: Can I write offers on more than one house at a time?

Q: Can I write offers on multiple houses without losing my deposit if more than one of those offers is accepted?

Asked by Tony, a home buyer in Natomas

A: Great question, Tony--and one I get asked often.

While you can potentially "get away with it" because of the many contingencies you're afforded within the purchase contract, writing offers on multiple properties at the same time would probably be considered acting in bad faith because you don't actually intend to purchase all the properties you're writing offers on. Chances are you're writing multiple offers with the hope that at least one of them will go somewhere--which is definitely a reality in the current market, especially in competitive price ranges.

When my clients ask this question, my response is simple: let's write and submit one offer at a time and, as each offer expires, we can move on to the next offer. If your agent is using a CAR purchase agreement, the default expiration of your offer is probably 5pm on the third day after you submitted your offer. Banks may (and often do) drag their feet and take longer than three days to respond, so technically your offer may expire even while it's being considered by the bank. If you choose to accept a response after your offer is expired, that's great--but nothing precludes you from writing another offer in the meantime if your original offer's expiration date has come and gone. Further, you can adjust the day and time that your offer expires by writing in something else if three days is longer than you want to wait.

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posted by Rob McQuade @ 7:59 PM, , links to this post



Contemporary loft living in Old Sac at the iLofts

Just Listed LOFT! Penthouse iLoft in Old Sacramento

When the owners of one of the top-floor lofts at the iLoft project in Old Sacramento called a few weeks ago, my immediate reaction was one of excitement: the iLofts in Old Sac are a one-of-a-kind loft project from D&S Development, a local developer known for its one-of-a-kind developments.

Old Sacramento loft - The iLofts from D&S DevelopmentThe unit, iLoft Penthouse 302, is a cozy retreat from "ordinary": a mix of old and new, the loft features exposed wood beams and brick and the historic windows that look out at Old Sac contrasted with rare marble flooring, designer lighting, and a modern kitchen with high-end cabinetry and a gourmet Viking range. Views are of the Tower Bridge, the Ziggurat in West Sacramento, the lights at Raley Field, and historic Old Sacramento's vibrant entertainment district. And you'll have the best seat in the house for fireworks.

Whether you're looking for everyday living or a home away from home, this penthouse loft is a chance to own a truly one-of-a-kind space in Old Sacramento convenient to Downtown, the State Capitol, dining, entertainment, and nightlife.

For more information about this loft, click here. Thinking about buying this or another loft in Sacramento? Give the loft expert a call... Rob McQuade with McMartin Realty at (916) 444-7577 or (866) 720-CITY (2489).

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posted by Rob McQuade @ 5:29 PM, , links to this post



Yes.

If you've picked up the latest issue of Sacramento Magazine you may have noticed the question asked on the cover:

LOFT LIVING, CONDO CULTURE: Can it thrive here?

Yes. In fact, in order for Sacramento to continue to grow in a healthy way, lofts and condos need to be a part of that mix of well-executed housing options. Large single-family homes on quarter-acre lots aren't a practical option in a dense urban core and smarter use of space means sharing: walls, walkways, common amenities, and a belief in a sense of place.

And the "well-executed" part is the key, as some Downtown and Midtown projects have demonstrated.

Among the more successful projects: the Sutter Brownstones have done well in this market because they have the hip, thoughtfully designed styling people want while giving owners a sense of community; the L Street Lofts may not be selling as quickly as investor Resmark Equity Partners may want, but the top-notch location and solid design mean they're selling—unlike recent projects like the Whiskey Hill Lofts (they've been turned into rentals) and Alchemy @ R Street (on the market as short sales as of this writing).

So what are the markings of a well-executed project? In the central city where buyers are more demanding, it means a mix of striking design (this isn't the 'burbs), quality materials and finishes, smart pricing, and convenience (neighborhood amenities, parking). Missing any one of these can make for a real challenge when it comes time to sell, missing more than one can be disastrous. People buying in these urban neighborhoods are doing so because they're unwilling to compromise on what they want—having multiple urban projects to choose from means they shouldn't have to.

Oh, by the way... Flip to page 127 and you'll see my nearly-life-sized head staring back at you (you coulda warned us, SacMag)! Of course I'm sporting a beard right now, maybe looking a little "Pacific Northwest" in honor of west coast cities like Portland and Seattle that have shown us how to execute on that need for urban infill. But I WAS FEATURED IN SACRAMENTO MAGAZINE!

Okay, maybe "spotlighted" is a better word. But still.

Too cheap to pick up your own copy? You can check out the article here: Up in the Air - Marybeth Bizjak, Sacramento Magazine (October 2008)

Oh, and a quick thanks to Marybeth Bizjak and the fine folks at Sacramento Magazine for puttin' my mug—and opinions—in the middle of the current issue. Please, no drawing pirate moustaches.

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posted by Rob McQuade @ 5:36 PM, , links to this post



3810 Henshaw Rd: Explore the neighborhood with Google Street View

Have I mentioned how much I love technology? Thanks to Google Street View, you can not only check out 3810 Henshaw Road (just use your mouse pointer to click and drag around in the image below to change your view, click on the plus or minus to zoom in or out, and click on the arrows next to the street name to go in that direction on the street)...


View Larger Map

...but you can head just down the street and check out the waterways and Lake View Park...


View Larger Map

...and even explore the rest of this great Bridgeway Lakes neighborhood in the Southport area of West Sacramento!


View Larger Map

Have questions about this or any other home Southport or West Sacramento home for sale? Give us a call at (916) 444-7577 today!

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posted by Rob McQuade @ 8:44 AM, , links to this post



This one shows like a model at Bridgeway Lakes

Ever feel like you're taking a real risk buying in a brand new neighborhood? What if it doesn't become the neighborhood you're hoping for? Will the parks, walking trails, and other amenities live up to your expectations? And how do you know if you'll have great neighbors?

For those who bought at Sail House at Bridgeway Lakes by new home builder Shea Homes in Southport, those fears have been washed away: beautiful waterways and peaceful walking trails weave between neighborhoods, community parks are filled with kids playing soccer and adults playing softball, and there's a certain attention to small details (the crosswalks are part of the neighborhood and not an after-thought) that makes it obvious that this is a community built with care—and one that will stand the test of time.

JUST LISTED! 3810 Henshaw Rd, West Sacramento, CA 95691

This Bridgeway Lakes home for sale in West Sacramento is a popular floorplan from Shea Homes with more 3900 square feet. Call (916) 444-7577.
This fabulous "Legacy" floorplan at Shea Homes' Sail House at Bridgeway Lakes shows like a model home with tons of upgrades and features five bedrooms (including a master suite with the optional retreat upgrade) and three-and-a-half baths and more than 3,900 square feet of living space. Among the upgrades: onyx granite tile counters, tile floors, and multi-tone paint.

Upgraded kitchen at this Shea Homes 'Legacy' model in West Sacramento at Sail House at Bridgeway Lakes. Call (916) 444-7577.
The open kitchen with it's large island eating area still leaves plenty of room for a dining room table (in addition to the formal dining area) and is perfect for entertaining, family time, or just relaxing indoors on an "inside" day.

The interior on this home is fantastic—an open floorplan with plenty of room for friends and family. Call (916) 444-7577.
The formal living and dining area are perfect for entertaining or family gatherings and the home has such wonderful interior architectural features that you don't see on lower-end homes.


Great outdoor living space: a pool/spa combo and built-in bbq island, plus plenty of room for lounging around.

Some of the best features of the home on Henshaw aren't even inside the home: you're just steps from the walking trails, waterways, and deep-water channel that are signatures of the neighborhood (in fact you can walk just a few yards down the street and up the levee to watch ships move silently through the canal—great fun with kids). The neighborhood truly speaks for itself, and the proposed Yarbrough golf course and waterfront development will bring a new "town center" to the area. The home is also conveniently located just minutes from Downtown Sacramento.

This home is priced to move quickly at $425,000. For more information or a private viewing, call Rob at (916) 444-7577 or Andrea at (916) 532-2233 or you can click here.

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