According the the Sacramento Rental Housing Association the County of Sacramento will be starting its version of a rental housing inspection program in January 2010. The cost will be approximately one half the cost of the City of Sacramento's program and will rely on certified inspectors instead of county employees. The owner of the property is except from getting certified.
HomePointe Property Management and our maintenance division, RAM Property Services plans to certify at least 4 inspectors to handle the program for our clients.
We have been signing up some clients for the Sacramento City program to be their local contact representative and will do so for the County program as well.
I will provide more details as they become available.
www.HomePointe.com
It was noted at a local trade association meeting today that local property management companies are losing accounts as their clients get foreclosed upon.
California and Sacramento in particular has been hard hit by the forecloser crises. It is no wonder that local property manages are scrambling to handle this loss of accounts.
When a foreclosure happens, the property manager must not only close out the file. They also have a tenant that is most likely going to be displaced. This tenant's deposit may be at risk as the owner may control it. Although the owner is responsible to make good on the deposit, they may not be willing to step up and return it. There is not good solution to this problem and the property manager gets caught in the middle of it.
The good news is that there are plenty of replacement accounts out there from new investors and owner occupants that cannot sell. Of course, HomePointe is happy to manage your home in the greater Sacramento area including Sacramento, Yolo, Placer, and El Dorado Counties.
I firmlly believe that most of us (90%) are working away and waiting for the downturn to be called over. We have all had to be creative to continue to make a living and to save money. Many of us have been hit with losses in home equity, the stock market, and our retirement funds. Some of us have lost jobs and hopefully found new ones.
But still, the downturn will, and I don't think it will be that many months from now (I hope less than 12 but surely no more than 24), will be declared over.
So what are you doing now so that you will not regret taking advantage of the current market? Are you looking to increase your real estate portfolio? If you truely believe in this business, I think you have to see the bargains out there. Maybe you could buy a one for yourself. Investors are doing it every day here in Sacramento. I am no stock picker, but I am sure there are deals in the stock market as well.
In these tough times, some will just have to hang on and wait for better days.
But, I say that if have some cash and good credit, go take advantage of the low prices before you read in the paper that prices have rebounded and the market has turned.
I recently made two offers on bank owned property. In looking for property to purchase I noted that the numbers of property for sale under $100,000.00 was much less than just a few months ago. The two properties I made offers had multiple offers and both sold quickly.
It seems that investors and first time buyers are out in full force and bottom feeding to the delight of the listing agents I am sure. If you are looking for property for under 100k you better stop stalling and get going.
www.HomePointe.com Your local Sacramento Region Property Manager
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Property Management Rentals and Maintenance in Sacramento, Yolo, Placer, and El Dorado Counties from offices located in Sacramento, Roseville, and Orangevale, CA We manage residential and commercial.
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