Real Estate 101

Forward

"Invest in land they ain't making it any more."
— Mark Twain

The exchange of real estate is an exciting experience. Land is certainly a limited resource. Supply and Demand controls the price in all markets. Currently the Sacramento Metropolitan and many other areas of California are experiencing a shortage in supply of homes, which has sparked some impressive price gains in the last five years. Record low interest rates and an influx of first time buyers have help fuel recent gains. The market and legal complexities facing buyers and sellers in real estate is why having licensed professionals on your team is essential. Help is just a click, call, or email away. Ramsey Real Estate Group is waiting to help now with more information and real estate advice, contact us.

Single Family Transaction
A typical single-family transaction has three main segments or parts. The first is the listing. During the listing section a licensed professional would prepare the marketing plan and disclosures needed for the home seller to complete and approve. In the initial stages the property owners would usually also get a pest report from a licensed pest control company. Using a comparable market analysis and drawing on the experience of your licensed professional in setting a value for the property is one of the more important parts of this stage. Once you have reached a price gathered all appropriate disclosures the next step is to begin the marketing period. Advertising in local newspapers, metro list, and on the internet usually denotes this stage of the process. A licensed individual would normally hold open houses and spread the word of his available property. The final stage is called the contract or escrow period. After having an acceptable offer the buyer and seller enters in the performance stage of the process. In the escrow period the mortgage broker secures financing, all inspections and reports are prepared and approved by the buyers, and once all provisions of the contract are meet the transfer of real estate commences. Please let the professionals at Ramsey Real Estate Group guide you through this process, Contact us today!

Muti-Family and Investment Properties
The market for investors in the last five years has changed considerable. With sky rocketing prices for single-family homes the need for affordable housing in Sacramento has never been so grave. Also new purchases and increased building of large sky scrappers has catapulted Sacramento into one of California's hottest real estate markets. In just the last two years record prices for downtown properties have amazed many in the real estate industry, as an example the Wells Fargo building sold for in 2003. Some advances in the loan offering have also help build a strong market for investors. Only three years ago the least money an investor could put as a down payment was 20% now there are several loan programs that will finance an investor with as little as 5% down.

Commercial Real Estate
The difference between residential and commercial real estate is vast. The purpose of residential real estate is to house a person or a family with the primary function of living. Commercial real estate is meant to house a business and not meant to be use to live in. As a landlord in a residential situation there are a lot of legal land minds. Tenant abuses were so widely common that the government stepped in and began to regulate that market. Fortunately, the commercial real estate market in not governed by strict legal guidelines. In the commercial real estate world the contract between the landlord and tenant is the guide. If either parties breach a commercial contract the remedies are spelled out in the contract not in governmental law. Although in general more than a 5% down payment is needed the market for commercial real estate tends to be less prone to fluctuation in value.

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