steve_lamothe

Top 3 Reasons Insurance Is “Out of Whack” in California

Wed, 15 Apr 2026 15:27:12 GMT

Carriers are leaving, the FAIR plan is underfunded, and rate hikes are still coming. Here's what's happening with California insurance and how to save money.

If your insurance bill doubled or tripled recently, you're probably wondering what the heck is going on.

That's the exact question I've been hearing from homeowners across Northern California, and especially here in Sacramento. Last year and this year, I've had people reach out asking why their premiums skyrocketed overnight. And it's not just fire insurance. Even if you don't live in a high-risk fire area, your normal property and casualty insurance and probably your auto insurance are increasing significantly when you go to renew . I'd estimate 40 to 50%.

So let's break down the three biggest reasons this is happening and I'll share a few ways you might be able to save some real money.

1. Carriers are leaving the state. This started around 2019 and 2020 and has only gotten worse. Insurance carriers began pulling out of California because the state was requiring them not to raise their premiums every year. California put caps and restrictions in place, and at the same time, the state was hit with massive wildfire losses.

The Camp Fire near Chico and Paradise, the Caldor Fire that pushed almost to Tahoe, the fire in El Dorado County, and, of course, the Palisades fire. These fires created billions of dollars in costs, and that cost is shared by everyone who lives in California.

On top of that, the average home price in California is very high. So when carriers lose a hundred or a thousand homes, the payouts are enormous. Many companies have decided it's simply not worth doing business here anymore.

2. The FAIR plan is underfunded and mismanaged. When carriers stopped covering homes in high-risk fire areas, the state of California stepped in and created something called the FAIR plan. This is fire insurance designed to fill the gap for homeowners who couldn't get coverage or whose premiums jumped to $15,000 or more.

The problem is that the fair plan hasn't been run well. It's underfunded, meaning the balances owed are more than the premiums being collected. So while you can get coverage in higher-risk areas, the insurance is expensive, and the program itself is on shaky financial ground.

" You can't keep premiums the same when the things you're insuring have doubled in value. "

3. A four-year rate freeze is now catching up with everyone. This is the one that explains why so many people are seeing their bills spike all at once. In 2020, because of COVID, the state of California locked rate increases. Insurers who were still in the state could not raise their premiums. That freeze stayed in place from 2020 all the way until 2024.

Now think about what happened during that time. Home prices increased maybe 30%. The cost of building went up 30 to 40%. The cost of trucks and cars went up 30 to 40%. But insurance premiums stayed flat. When the freeze lifted in 2024, insurers had to reset their rates to reflect four years of rising costs all at once. That's why so many people opened their renewal and thought, "My insurance just doubled." It did, and it actually makes sense when you look at the math. You can't keep premiums the same when the things you're insuring have doubled in value.

And it's not over yet. I'm estimating another 30% to maybe 40% in price increases over the next two years.

Here's how you can save money.

If you're in a high-risk fire area like Folsom, El Dorado Hills, Shingle Springs, or Granite Bay, you have options beyond the FAIR plan. There are state-accepted insurance carriers like State Farm where you can use the FAIR plan as your fire coverage and then add what's called a wrap policy from the carrier for your other coverage.

But here's the tip most people don't know about. There are next-tier insurance carriers like Delos that can cover you in high-risk fire areas without the fair plan at a much lower cost. These carriers aren't backed by the state of California, but they are backed by multi-billion dollar insurance underwriters, so the risk of them going bankrupt is extremely low. This approach can save you 40% to 50% on fire insurance in high-risk areas.

You can also look at lowering your water coverage for floods and installing a meter at your water main that shuts off the flow of water if you have a leak. There are some practical ways to bring your costs down if you know where to look.

Insurance is going to be a major issue in California for the foreseeable future. If you h ave questions about how this affects your home's value, your buying or selling plans, or just want to talk through your options, reach out. You can call me at (916) 862-5463 , email me at Steve@homesbyelevate.com , or visit homesbyelevate.com .

Don’t Let the PMI Trap Stop You From Building Wealth!

Fri, 13 Mar 2026 17:18:40 GMT

Many buyers wait years to avoid PMI, but that delay can cost far more than the temporary monthly expense.

Many buyers believe they must save a full 20% down payment before buying a home. It sounds like the responsible choice, so people often delay their plans until they reach that number. The problem is that waiting to avoid PMI can keep buyers on the sidelines much longer than they expect.

I recently spoke with a first-time buyer who almost purchased a home about five years ago. She decided not to move forward because she didn’t want to pay PMI. Her goal was to save enough to put 20% down. Today she’s still renting, and that situation highlights something many buyers don’t realize. Waiting to avoid PMI can sometimes cost far more than paying it for a short period of time.

What is PMI? PMI stands for private mortgage insurance. Lenders require it when a buyer puts less than 20% down on a conventional loan. The insurance protects the lender if the borrower defaults on the loan. In most cases, PMI costs between about $100 and $300 per month, depending on the loan amount and the size of the down payment.

Buyers who put 5%, 10%, or 15% down typically have PMI included in their monthly payment. Because of that extra cost, many buyers assume they should wait until they’ve saved 20%. However, that decision often delays homeownership longer than expected.

A PMI doesn’t last forever. One of the most important things to understand is that PMI is usually temporary on conventional loans. Once a homeowner reaches 20% equity, PMI can be removed. Equity builds through regular mortgage payments and possible increases in property value

When those factors combine, and the loan reaches 20% equity, the homeowner can request that the lender remove PMI, sometimes after completing an appraisal. For example, if PMI costs $200 per month, that equals $2,400 per year. After a couple of years, the homeowner may be able to remove it once the equity requirement is met.

" Paying PMI for a few years may cost a few thousand dollars, but waiting to buy can mean missing out on years of home equity growth. "

The cost of waiting. The bigger issue is the opportunity cost of waiting. Saving 20% down often takes longer than planned because everyday expenses and unexpected costs slow the process. What buyers expect to accomplish in a couple of years may turn into five or even ten.

During that time, home prices may increase, which means the same home may cost more later. While someone tries to avoid paying a few thousand dollars in PMI, they may miss the chance to build tens of thousands of dollars in home equity.

What buyers should focus on? Instead of asking how to avoid PMI, buyers should focus on whether they can comfortably afford the home and the monthly payment. If the payment fits within the budget and the buyer is financially stable, PMI shouldn’t be the factor that stops them from buying.

In many cases, it’s simply a temporary cost that allows someone to enter the market sooner and start building equity.

PMI gives buyers a practical way to enter homeownership sooner without waiting years to save a full 20% down payment. While it does add an extra monthly cost, that cost is often temporary and may be far less than the equity a buyer could miss by waiting too long to purchase. Understanding how PMI works, when it can be removed, and how it affects the full monthly payment can help buyers make a more confident and informed decision.

If you need more information about how PMI works or want help reviewing your options, reach out at (916) 862-5463 or visit homesbyelevate.com . Starting the conversation early can help you understand what’s realistic for your budget and whether buying sooner makes sense for you.

You Have 2 Months To Get FREE Down Payments!

Mon, 16 Feb 2026 20:15:48 GMT

The California Dream for All program returns with limited funding. It’s a chance to get state support with your down payment so you can step into your first home sooner.

Wondering how to get a big boost on your first home without taking on a huge loan? If you’ve been searching for smart ways to step into your first home sooner, I have good news for you.

The California Dream for All program is a first-time homebuyer loan that created major excitement when it first launched a couple of years ago, with $100 million in state funding fully claimed in just one week.

The program helps first-time buyers with down payments to make homeownership more accessible, and thousands of applicants across California quickly took advantage of it.

There were also lessons learned along the way, including cases where higher-income applicants received loans they shouldn’t have, which helped shape how the program is run today. Now that the California Dream for All program is returning in 2026, here is what you need to know.

2026 program window. On February 24, 2026, a new application window will open. First-time homebuyers who are interested should prepare to act quickly, because the available funding will likely be claimed fast. It is important to gather necessary documents and information in advance to increase the chances of qualifying.

" The California Dream for All program helps first-time buyers with down payments, making homeownership more accessible. "

How it works. This program is a shared equity loan. The state provides up to 20% of the down payment, with a maximum of $150,000. There are no monthly payments and no interest while the homeowner owns the property. When the home is sold, a portion of the equity goes back to the state, and the homeowner keeps the remaining equity. This allows buyers to enter homeownership with a lower upfront cost and still benefit from future appreciation.

Eligibility requirements. Applicants must be first-generation and first-time homebuyers, meet income limits of roughly $125,000 to $150,000, and be California residents purchasing a primary residence. If the home is refinanced in the future, the shared appreciation must be repaid to the state.

The California Dream for All program gives first-time buyers a rare opportunity to enter homeownership with state assistance, make no payments while owning the home, and benefit from future appreciation. It’s important to act quickly because funding is limited and will likely be claimed fast. Preparing financial information in advance and working with a knowledgeable lender can help ensure a smoother process and clarify how shared appreciation works.

If you need more information about the program or want help preparing, reach out at (916) 862-5463 or visit homesbyelevate.com . Starting the conversation early can help you take full advantage of this opportunity.

This Tax Strategy Will Save You Thousands

Mon, 09 Feb 2026 20:46:33 GMT

Selling a high-value home? Proposition 19 can shield you from a property tax shock on your next purchase. Start planning your transition now.

Are you worried that moving to a new home could cost you more in taxes than you expect? I’ve seen it happen a lot in California: people stuck in homes that are way bigger than they need, just because selling and buying somewhere else would spike their property taxes.

That’s exactly what Proposition 19 was designed to fix, and understanding it can make a big difference if you’re thinking about moving or planning for retirement. Here’s what you need to know.

What is Proposition 19? Prop 19 passed back in 2020, and it deals with transferring your tax basis from the home you currently own to a new home you want to buy. Before this law, if you wanted to sell your home in a high-cost area, you couldn’t take your old tax basis with you. That meant many homeowners were trapped, paying much higher taxes if they moved.

Why prop 19 matters. For example, if you bought your home 30 years ago for $200,000 and it’s now worth $1.5 million, your property taxes might only be around $4,000 a year due to California’s limits on annual increases. Buying a new $1 million home could push your taxes up to $12,000 a year, creating a big barrier for older homeowners.

Prop 19 solves this by letting you transfer your existing tax basis to a new home, making it easier to downsize and increasing available inventory in the market.

" Downsize or relocate without higher taxes thanks to Prop 19. "

Who qualifies. To use Prop 19, you generally need to be 55 or older. Exceptions exist for people with disabilities and disabled veterans under 55, but it’s still important to check the rules. Inherited homes, especially those in a trust, have additional considerations, so working with a tax professional is recommended before making any moves.

Rules and requirements. There are a few rules to keep in mind. You must buy your new home within two years of selling your old one, so selling and buying at the same time isn’t required. This process isn’t automatic. You need to contact the county assessor and file the proper paperwork.

Remember that your tax basis is different from your home’s market value. For example, if your tax basis is $350,000 and your home sells for $1.5 million, the transfer only applies to the $350,000 basis, not the full sale price.

Key benefits. One of the best parts of Prop 19 is that you can transfer your tax basis up to three times. It’s not just a one-time opportunity anymore. You can use it to move closer to family or to a location with specialized healthcare, anywhere in California. This is a big change from the old system, which was county by county and didn’t always honor transfers.

If you’re thinking about moving in 2026, it’s a good idea to start planning now. On average, it takes three to six months to get a home ready for sale. Taking the time to plan ensures you can take full advantage of Prop 19 and make a move that makes sense financially.

Have any questions about moving, or unsure of what steps to take? Don’t hesitate to reach out at (916) 862-5463 or visit homesbyelevate.com . Starting the conversation now can make a big difference when planning your next move.

Big News in 2026: No Credit Scores to Qualify for a Mortgage?

Thu, 08 Jan 2026 13:46:13 GMT

The old rule that auto-rejected lower credit scores is officially gone. Here’s what this quiet but significant change means for your homebuying chances.

Can you still qualify for a mortgage if your credit score isn’t perfect? That’s a question more buyers should be asking, because there’s been a quiet change in how mortgages are reviewed. The update came out a few months ago, but surprisingly, it hasn’t been widely talked about or clearly explained. Because of that, many buyers may not realize how this shift could affect them, so I’m sharing it with you.

The new mortgage review process. Fannie Mae and Freddie Mac, the two major players that buy most mortgages, quietly changed their underwriting rules. Now, applications with credit scores under 620 can be reviewed and may qualify for a conventional mortgage.

Before this, a score below 620 meant an automatic decline with no chance to explain your situation. Even someone with a 585 or 600 score would be shut out immediately.

Credit scores don’t always tell the full story. Balances report on different dates, so your score might look lower than it really is, even if you pay responsibly. For example, I use several business credit cards and pay them off at the start of each month, but one card reports later in the month. Even though I’ve paid it down to zero, it can still show a high balance and temporarily lower my score.

This change helps people with lower credit scores for reasons that aren’t real risks—like self-employed buyers or those with timing issues—by giving them a chance to have their applications reviewed instead of being automatically declined.

" Even if you don’t qualify today, that doesn’t mean it’s the end of the road. "

What this means for homeownership. This doesn’t mean unqualified buyers are suddenly getting approved. It simply opens the door to more realistic evaluations. Fewer automatic declines mean more people can be properly reviewed instead of dismissed based on one number.

Some people worry this could lead to risky lending, but I don’t see it that way. Underwriting still exists, and lenders are still evaluating risk. This change just removes the hard stop that prevented otherwise responsible buyers from even being considered.

If owning a home is something you want someday, the biggest takeaway is this: it’s worth checking to see if you qualify, no matter what your credit score is. Now there’s a much stronger case for at least having the conversation.

Even if you don’t qualify today, that doesn’t mean it’s the end of the road. You can put together a plan to work toward it and understand exactly what needs to change to get there.

I’m not a lender, and this isn’t lending advice. I’m simply sharing a recent change that I think is important for buyers to know about. If you want to learn more or see how this applies to you, call us at (916) 862-5463 or homesbyelevate.com . Let’s put together a plan to help you get your dream home.

A Simple Guide to Capital Gains Exclusions for Home Sellers

Tue, 09 Dec 2025 20:09:04 GMT

Capital gains exclusions let many sellers keep up to $500,000 tax-free, helping protect the equity they built.

Most people never talk about the one rule in real estate that can help you keep more money than almost anything else, yet it plays a significant role in how homeowners build real wealth. Capital gains exclusions are simple, legal, and available to almost every homeowner in the country. However, many sellers don't fully understand how they work or why they matter.

Here’s everything you need to know about capital gains and how you can use it to your advantage when the time comes to sell your home.

What are capital gains? Capital gains are the profit you make when something you bought increases in value, and this gain is not earned through employment or wages. If you buy a home for $100,000 and later sell it for $200,000, the extra $100,000 you receive is considered a capital gain. The government taxes these gains at lower rates than regular income because investing in assets like homes and stocks helps you grow your savings and also supports the economy by keeping money moving.

How do capital gains exclusions work for homeowners? The real power shows up when you sell your primary home and qualify for a capital gains exclusion. The IRS allows single homeowners to exclude up to $250,000 in gains from taxes, while married couples can exclude up to $500,000 because each spouse receives a $250,000 allowance. This can have a major impact on how much money you keep when you sell.

"Understanding capital gains rules helps sellers protect their equity and avoid paying taxes they may not actually owe."

Imagine buying a home for $100,000 and selling it years later for $600,000. Your gain is $500,000, and a married couple in this situation would owe nothing in capital gains taxes. You walk away with the full amount and keep every dollar. It is one of the few ways in America to earn a large profit and pay no taxes on that growth, which is why homeownership is such an effective wealth-building tool.

When do taxes apply to capital gains? You only pay taxes on the portion of your gain that exceeds the exclusion. If you sold the same home for $700,000, your gain would be $600,000. A married couple would exclude $500,000 and owe capital gains taxes on the remaining $100,000. These taxes are still lower than ordinary income taxes, but the cost can be high. In California, it is common for sellers to pay between 25% and 35% in combined state and federal taxes on the taxable amount. Without the exclusion, many homeowners would lose a large portion of their equity to taxes.

Why does it matter for wealth building in real estate? The capital gains exclusion is one of the most substantial financial benefits tied to homeownership because it allows you to build equity, keep more of your earnings, and use those gains to move into your next home. This advantage does not exist in the stock market, where every gain is taxed. Your primary home is one of the few assets that let you grow your money tax-free when you qualify for the exclusion.

This rule applies only to your primary residence and doesn't apply to rental properties. Still, for many homeowners, this is a key path to long-term wealth and financial stability. If you have questions about capital gains or want to understand how this applies to your situation, feel free to reach out at (916) 862-5463 or visit homesbyelevate.com . I'd be happy to help you ensure you understand everything you need to maximize your capital gains.

What To Consider Before Getting a 50-Year Mortgage

Fri, 21 Nov 2025 15:56:44 GMT

You might be able to afford a larger home or a home in a better neighborhood, but there’s a catch: you’ll pay more interest over time.

Are you curious about how a 50-year mortgage could impact your future home-buying plans? While it sounds like a great way to stretch out payments and afford a larger home, it’s important to understand both the benefits and drawbacks before diving in.

Let’s break down everything you need to know about this long-term mortgage option and whether it’s a good fit for you in today’s housing market.

What is a 50-year mortgage? It’s a loan where you pay off your home over 50 years instead of the usual 30 years. The biggest difference is that the payments are stretched out over a longer period, which can help lower your monthly payments.

But here’s the catch: You’ll pay much more in interest over time. Interest is the extra money you pay the bank for borrowing their money. The longer you borrow, the more interest you pay.

How this helps you buy a home. One of the main reasons someone might consider a 50-year mortgage is to make homeownership more affordable. If you're struggling to make higher payments on a traditional 30-year mortgage, a 50-year mortgage could lower your monthly costs.

This means you might be able to afford a larger home or a home in a better neighborhood. For some people, this can be a way to enter the housing market when they wouldn't have been able to afford it otherwise.

"The right choice depends on your personal goals, your ability to pay, and how long you plan to stay in the home."

What are the risks? While the lower monthly payments sound good, there are some important risks to consider. First, since the loan is spread out over 50 years, you’ll end up paying a lot more money in interest over the life of the loan. Even though your monthly payment is lower, the total amount you pay to the bank will be much higher than if you took a 30-year mortgage.

Also, it's important to remember that most people don’t stay in the same house for 50 years. If you plan to move or sell your home before then, you may not see the full benefit of the lower payments.

Who should consider this option? This could be a good option for people who are struggling to afford a home with a traditional loan, but it’s not right for everyone. If you’re planning to stay in one place for a long time and can handle the higher total cost, it could make sense.

But if you think you’ll move in the next few years, you might be better off with a traditional 30-year mortgage, where you’ll pay less in interest over time.

Is it the right choice for you? Choosing a mortgage is a big decision, and a 50-year mortgage is just one option. It can help make homeownership more affordable in the short term, but it also comes with long-term costs that you should carefully consider. The right choice depends on your personal goals, your ability to pay, and how long you plan to stay in the home.

If you're interested in learning more about mortgage options or need help navigating the home-buying process, I can help. Call me today at  (916) 862-5463  or email me at  STEVE@HOMESBYELEVATE.COM  to get started on your journey to homeownership!

Sacramento Homebuyers: Interest Rates Are Now Under 5%!

Thu, 06 Nov 2025 16:26:00 GMT

Rates just dropped, and it’s sparking buyer activity across Sacramento. Find out how to take advantage before the rush.

Is now a good time to buy or sell in Sacramento? 2025 is almost over, and it feels like the year just flew by. You might’ve heard lately that the Fed has lowered interest rates. All year, I’ve been calling the market sluggish, and that’s still true. Homes are taking longer to sell, around 50 to 55 days on average. Prices are adjusting too, with average sales down 1% to 2%, meaning some neighborhoods are still seeing values decline.

As the holidays approach, I want to share some updates about the Sacramento real estate market.

Interest rate trends. Interest rates have dropped a lot since January. Back then, rates were between 7% and 8%, which is very expensive given average Sacramento home prices around $500,000 to $550,000. Now, we’re seeing rates consistently in the fives.

On conventional loans, buyers are locking rates around 5.5% to 5.8%, and many are getting 6% or below. Sometimes you might pay a small fee to get under 6%, but almost everyone is well below 6.5%. Rates may continue to drop gradually over the next year, maybe a quarter point every couple of months, but the Fed is being careful not to push prices back up too fast.

"The holiday season can be a smart time to buy, with fewer people are looking during this period."

Implications for buyers. For buyers, this is great news. Inventory has increased and is almost back to pre-pandemic levels, giving you more choices and less competition. The holiday season can also be a smart time to buy since fewer people are looking during this period, which could mean some great deals. Remember, you can lock rates in the fives now and refinance next year if rates drop further.

Implications for sellers. Sellers shouldn’t expect prices to skyrocket immediately, but lower interest rates will bring buyers back into the market. That makes fall or the fourth quarter a potentially good time to sell, with motivated buyers looking for homes at manageable rates.

Now, for a little holiday fun, our free pie event is back! From November 19th to 21st, you can come pick up a homemade pie. We’ve been doing this for 10 years, and it’s always a favorite. We’re making 150 pies, but spots are filling fast, so check your email or mailbox to reserve yours. It’s a fun tradition, and we love seeing everyone in person.

Whether you’re thinking about buying, selling, or just staying informed, we’re always here to help. Visit our website at HomesByElevate.com for more info.

We can’t wait to see you at our pie event and connect before the year wraps up!

How To Get an Interest Rate at 4% or Less

Fri, 17 Oct 2025 17:01:29 GMT

Buyers can cut costs by assuming existing loans and focusing on homes with low, government-backed mortgages.

Are you struggling to find a Sacramento home with a low interest rate? If you’ve been looking at homes lately, you’ve probably noticed how tough affordability is right now. But the good news is there are ways to still land a home with an interest rate under 4%. At Elevate Realty Group, we’re compiling thousands of properties that qualify for rates as low as 2.5% or 3.54%, and I want to walk you through two ways to make it happen.

1. Explore VA loans. If you’re a veteran and qualify for a VA home loan, there’s a great opportunity to get a low interest rate. We can look for homes that already have VA loans with rates below 4%, even if those homes aren’t currently for sale. Then, we focus on the neighborhoods you want to live in and reach out to those homeowners directly. With our 4% guarantee, we can help VA homebuyers secure a home with an interest rate under 4%.

2. Find assumable homes. For everyone else, like conventional and FHA buyers, there are still opportunities to get low rates. In the Sacramento area, I’d say that 60% or more of homes have interest rates below 4%. Many homeowners stay in their current homes because they don’t want to sell and get a higher rate of around 7%. By targeting homes with government-backed loans at 4% or less, we can make offers above the market value that are very attractive to sellers.

"There are ways to still land a home with an interest rate under 4%."

For example, if a home is listed at $600,000 with a 3.5% FHA loan, we might offer $640,000. Even with the higher price, your monthly payment at 3% could be $400 to $500 less than paying market value at today’s rates.

Important considerations. There are a few important things to know if you go this route. First, you still have to qualify for the mortgage, which means having a down payment and meeting the usual approval requirements. You also need to understand the details of assuming the existing mortgage and paying the difference between the mortgage balance and your purchase price.

Second, this approach takes time. We usually plan for about 90 days to complete it, so it’s not a quick 14- or 21-day close.

At Elevate Realty Group, we have very specific and creative ways to make homeownership more affordable. Our goal is to help you capture the dream of owning a home and start building equity at a lower cost. If this sounds like something you want to explore, reach out to us at homesbyelevate.com or call us at (916) 862-5463 or visit HomesByElevate.com . We’re happy to help you.

How To Get 4.99% Interest Rates in Today’s Market

Tue, 09 Sep 2025 18:29:35 GMT

Forget haggling on the list price - builders rarely negotiate on price, but they will on credits and upgrades.

Ever wondered what it really takes to buy a new construction home without overpaying or missing out on deals? Right now, there are some great options on the market, but most buyers don’t fully understand how the process works. Let’s clear up some common misconceptions and go over the top three things you need to know before making a move on a brand-new home.

1. Builders don’t like to negotiate on price. The first thing I tell every client is that big builders, like Lennar and JMC, don’t usually negotiate on price. They’ve been developing these communities for a while, and homes have already been sold to other buyers at set prices. If you come in with a lower offer, the builder isn’t likely to budge because they want to protect the value of the neighborhood.

That said, there are ways to work around this. Builders are often flexible with credits instead of lowering the price directly. You can ask for things like lender credits, upgrades, or even having a backyard installed. We had a client recently who ended up with over $90,000 in credits and upgrades, including a completed backyard. Focusing on concessions instead of the list price can be a game-changer.

"Builders are often flexible with credits instead of lowering the price directly."

2. Understand how new construction works. Not every home is ready to move in immediately. Many times, you’ll pick a lot and choose a floor plan, which can take patience. You might not be able to wait six months or so. Builders also don’t list all their available homes on the MLS, so it’s not always obvious what’s available. That’s why working with someone who knows the ins and outs of new construction and the communities you’re interested in is so important.

3. The value of experienced representation. Finally, having an experienced agent on your side is critical. If you walk into a new construction community alone, the opportunity is already limited. The salesperson there represents the builder, not you. Meeting with your agent first and going in together ensures the builder recognizes your relationship.

Clients who buy new construction with our representation often save 5% to 10% compared to someone represented by the builder’s agent. It’s like hiring your own attorney, and you wouldn’t want them representing the other side.

So, whether it’s negotiating credits, understanding the process, or having the right representation, these three points can make a big difference in buying new construction. In today’s market, it pays to work with someone who knows what they’re doing. If you’re thinking about buying or selling a home, call us at (916) 862-5463 or visit HomesByElevate.com . We’re happy to help you.

Inventory Is Still Increasing in Sacramento!

Mon, 11 Aug 2025 21:11:28 GMT

Sacramento’s housing inventory is up compared to last year, giving buyers more options while sellers face tighter competition.

Are there really fewer buyers in today’s Sacramento housing market? Lately, I’ve been receiving a lot of calls from clients, especially sellers, who are starting to feel frustrated. Most are noticing that their homes are taking longer to sell, and it’s becoming more difficult to attract offers or even schedule showings.

Whether you’re a buyer or a seller, these changes will certainly affect how you navigate the market. To help you decide what steps to take next, here’s a quick breakdown of what’s really happening in Sacramento’s real estate.

Rising inventory is reshaping the market. One of the biggest shifts in this year’s market has been the significant increase in available homes for sale. With more inventory, sellers are facing increased competition. This has led to more frequent price reductions and has given buyers the space to take their time when making purchasing decisions.

Historically, the market follows a fairly consistent seasonal pattern. Inventory tends to peak in the summer months and then begins to decline as winter approaches. But do note that this drop doesn’t mean fewer homes are being sold. It’s just that fewer people are listing their homes during this time.

July inventory surge. What stands out this year is the number of active listings in July. Sacramento saw nearly 9,500 homes on the market, which is approximately 35% more than in July of the previous year. With interest rates hovering between 7.5% to 8%, buyers are being cautious about their purchases and are taking longer to commit.

Over the past year or two, we’ve also consistently seen 30% to 40% more homes on the market compared to earlier years. While inventory levels today are similar to those in 2021 and 2022, the difference is that more homes were going pending back then. That shift was largely due to lower interest rates, which made it easier for buyers to act quickly and confidently.

"The data shows that buyer interest remains strong, but the growing number of listings is creating more competition."

Pending sales stay steady. The number of pending sales follows predictable seasonal patterns: dipping during winter and rising again in the spring and summer. This pattern occurs not because there are more buyers during those seasons, but because more homes tend to be listed during those months.

Each year, the number of homes going pending remains fairly consistent, typically within a 5% range. The main variable affecting the market is how many homes are listed for sale at any given time.

Pandemic shifts still shape the market. Looking at data from the past six years shows a clear trend. In 2019, there were around 11,000 Sacramento homes for sale. In 2020, during the early stages of the pandemic, that number dropped to about 5,000. Now, in 2025, we’re back up to roughly 9,500 homes on the market.

During the pandemic, pending sales peaked at around 5,000. Today, they’re sitting closer to 3,500. So while buyer activity has dipped a bit, it hasn’t dropped nearly as much as inventory has grown. This highlights a key point in understanding the current market.

What this means for you. Buyers have not disappeared. The data shows that buyer interest remains strong, but the growing number of listings is creating more competition. As a result, prices have started to soften. So far this year, Sacramento has experienced a price reduction of around 3% to 5%, and that trend is likely to continue unless the number of homes for sale begins to stabilize.

If you are planning to sell your home, it’s important to recognize that the challenge is not a lack of buyers. Demand remains present, but sellers now face more competition. If you’d like to discuss your options, feel free to reach out at (916) 862-5463 or visit HomesByElevate.com . We’re happy to assist you.

What the HECK Is Going On With Sacramento’s Real Estate Market?

steve@homesbyelevate.com (Steve LaMothe) — Fri, 18 Jul 2025 16:08:31 GMT

We’ve all noticed the market shift—inventory is up and sales are slower. I’ll share insider tips to help you stay ahead of the market.

What’s really going on in Sacramento’s real estate market? For the past four years, the Sacramento real estate market was in a state of "nonexistent inventory,” with a record-low number of homes available for sale. Despite high interest rates climbing from 4% to 8.5%, homes were selling quickly.

But in 2025, the market is shifting . We're seeing an increase in inventory, and homes are spending more time on the market. I view this as normalization . Here’s what’s really happening and what this means for you, whether you’re buying or selling:

Rising home inventory. This year, we've seen almost 40% of homes go for sale, which has a significant impact on the Sacramento region. With rising interest rates, fewer buyers are entering the market, so a lot of unsold homes roll over to the following month. Now in July, properties are sitting longer as more inventory continues to hit the market. This is a clear sign that buyer demand isn’t keeping up.

"Buyers have more room to negotiate, but sellers can still win with the right strategy."

Home prices are dropping. Due to the rising inventory, we're starting to see longer selling times and a slight drop in home prices of about 3 percent. This has been going on since January and February, and if it continues, we may see home prices drop by 6% to 7% this year. This is not necessarily a bad thing; houses have become expensive for buyers, and now it's more affordable to get one.

As we go through the year, it's important to watch buyer demand. If interest rates go down and more homes become available, prices could drop quickly if there are more homes than buyers.

What does this mean for you? For buyers, this could be an ideal time to find homes at a good deal. With homes sitting longer on the market, sellers are willing to negotiate more. If you’re selling, you can still sell in this market, but having a good strategy is a must. With prices going down slowly, there's no need to wait.

Got plans to buy or sell this year? We can help. With years of experience in the business, I know exactly what to do to help you find the perfect home or get the best deal for your home sale—even in a tough market. Feel free to reach out to us. Just call (916) 862-5463 or visit HomesByElevate.com . We look forward to hearing from you!

Why 2025 Is the Best Time To Buy a Home in 3 Years

steve@homesbyelevate.com (Steve LaMothe) — Fri, 06 Jun 2025 17:32:23 GMT

With fewer bidding wars, price drops, and more negotiation power, homebuyers finally have the upper hand after years of intense competition.

Is now the best time to buy a home in the last three years? Lately, we’re seeing more homes come onto the market, and they’re staying available a bit longer. This shift is opening up new opportunities for buyers who have been waiting for the right moment. Let’s dive deeper to see why this could be the best time to buy.

Buyers are in a better spot. Inventory is up about 30% to 35% compared to last year. At the same time, the number of homes going pending has dropped sharply, especially over the past 60 days. When you put those together — more homes available and fewer are selling quickly — deals are starting to happen.

Sellers are dropping prices to compete, and buyers are getting offers accepted well below asking, which hasn’t been common in recent years. This is a change from the last three years when buyers often had to compete with multiple offers or submit very high bids just to be considered.

"Sellers are dropping prices to compete, and buyers are getting offers accepted well below asking, which hasn’t been common in recent years."

I believe this is the best window we’ve had to buy since the pandemic started. If you’ve been on the fence or wondering if buying is possible, now might be the time to take a closer look. We can help break down the numbers for you. We can also build a plan to help you save and prepare over the next year.

A shift sellers didn’t expect. Sellers have held the upper hand for about six years, so this change in the market feels significant. While they’re still getting solid prices and we’re not seeing a major drop in home values, the momentum has shifted. Based on current trends, it wouldn’t be surprising to see values dip by 1% to 5% this year. Buyers are finally gaining some leverage again —and that’s a welcome change.

If you’ve been thinking about buying, now’s a great time to explore your options. We’re happy to help—at no cost to you—by putting together a personalized purchase plan. Just give us a call at 916-436-SELL , or check out homesbyelevate.com . We’ll walk you through the steps to save and prepare.

2025 Sacramento Real Estate Mid-Year Market Update

steve@homesbyelevate.com (Steve LaMothe) — Wed, 21 May 2025 21:00:16 GMT

Sacramento’s inventory is up 25%, but buyer demand is dropping. Know what’s driving the shift and how it affects home prices for buyers and sellers.

What’s going on with the Sacramento real estate market halfway through 2025? This year has been moving fast, but what’s really interesting is how much the market has shifted in just the past couple of months. After a relatively quiet start, things have started to change in ways that are important for both buyers and sellers.

Over the last 60 days, some significant trends have emerged that could shape the rest of the year. It’s definitely worth taking a closer look at what’s driving these changes and what they mean for the market right now. Let’s dive in.

Looking back: from a slow 2024 to a hopeful start in 2025. Last year, 2024, was one of the slowest on record for home sales in Sacramento, setting a quiet tone for the market. Going into 2025, I expected things to stay fairly similar, with no big changes in interest rates or sudden surges in buyer activity. However, the first few months surprised us a bit— sales picked up by about 10% compared to last year, and buyers seemed noticeably more motivated and confident. This early momentum gave hope that the market might be warming up after a sluggish period.

Inventory is rising as buyer demand slows. Over the past 60 days, the Sacramento real estate market has taken a noticeable turn. Buyer demand has slowed down, with fewer people going under contract and purchasing homes. Meanwhile, the number of homes listed for sale has risen sharply.

"This isn’t a market crash—it’s simply the housing market rebalancing after being inflated by low inventory."

When fewer buyers are buying but new listings keep coming, inventory starts to build up quickly. For example, if 1,000 homes are listed in a month but only 300 go pending, that leaves 700 homes still available the following month. Add another 1,000 new listings on top of that, and you end up with a growing backlog of homes sitting on the market. This increase in inventory alongside slowing sales is exactly what we’re seeing right now.

Shifting dynamics are putting pressure on home prices. With more homes hitting the market and fewer buyers actively looking, smart pricing has become more important than ever. A well-priced home might get three to five showings each week, but if it's even slightly overpriced, showings can drop to one every couple of weeks—or none at all. That’s a big change from previous years, when buyers were more aggressive despite high interest rates because there weren’t many options available.

Back then, homes went under contract quickly, often within two weeks. Now, inventory is up roughly 20% to 25% compared to this time last year, while pending sales are down 10% to 15% over the past two months. If this continues, inventory will keep rising, and home prices will face more downward pressure.

At this point, I expect prices to remain mostly flat or dip slightly for about 1% to 3% in some neighborhoods. That said, this isn’t a market crash—it’s simply the market rebalancing after being inflated by low inventory.

If you’re thinking about selling, it’s really important to price and present your home right to attract buyers. For buyers who have been hesitant over the past few years, now is a great time to jump in. We’re seeing homes sell under their asking price, and despite higher interest rates, there are still some great deals available. If you want to learn more, give us a call at 916-436-SELL , or check out homesbyelevate.com . We’re happy to keep you updated about the market.

How We Transformed This Bedroom Into Every Little Boy’s Dream Space

steve@homesbyelevate.com (Steve LaMothe) — Thu, 15 May 2025 21:00:32 GMT

We partnered with Sweet Dreams Foundation to make a Pokémon-themed bedroom and firehouse playroom for a brave young boy.

This month, the Elevate team had the immense honor of partnering with the Sweet Dreams Foundation for our second dream bedroom transformation project. Sweet Dreams Foundation is a nonprofit in Folsom, CA, dedicated to creating safe havens called “DREAM ROOMS” for medically fragile children to forget treatments and find joy. Their mission is to spread peace, hope, and love while encouraging a healthy lifestyle to lift each child’s spirit.

We collaborated to support Leo, a bright, brave young boy courageously battling a life-threatening illness.

With Sweet Dreams leading the vision and Elevate lending our hands and hearts, our shared mission was to bring light, comfort, and joy to Leo’s world by creating a bedroom and playroom that reflected his favorite things and gave him a space to feel safe, playful, and loved.

With the help of volunteer firefighters, generous vendors, and the dedicated Sweet Dreams team, we unveiled a completely transformed space for Leo. His new bedroom featured a Pokémon theme and a custom firehouse-themed playroom. It was complete with imaginative details and interactive elements that turned the space into his dream come true.

This partnership with Sweet Dreams Foundation is one we deeply value. At Elevate , we believe in using our skills and resources to uplift the communities we serve , and nothing means more than making a difference for children like Leo.

If you’d like to learn more, get involved, or explore future partnership opportunities, please don’t hesitate to reach out. 916-436-SELL , or check out homesbyelevate.com to learn more. We’d love to hear from you.

How clients are utilizing our elevate concierge renovation program to pocket 20-40k in profit over the traditional agent!

steve@homesbyelevate.com (Steve LaMothe) — Wed, 07 May 2025 16:22:57 GMT

Elevate's concierge program is putting MILLIONS of dollars in customers pockets!

Transform Your Sacramento Home with Elevate’s Concierge Program

Selling a home in Sacramento’s competitive real estate market can feel overwhelming, especially if your property needs updates to stand out. Dated kitchens, worn flooring, or lackluster curb appeal can turn buyers away—or worse, lower your sale price. That’s where Elevate Realty Group’s Concierge Program comes in, a game-changing solution that lets you renovate your home upfront with zero out-of-pocket costs and repay at closing. As Sacramento’s #1 real estate team in listings taken, we’re redefining how homeowners maximize value without the stress.

What Is the Elevate Concierge Program?

Our Concierge Program is designed to make your home shine in today’s market. Here’s how it works:

We Cover Renovation Costs : Elevate funds up to $25,000 for strategic upgrades—think modern countertops, fresh paint, or energy-efficient fixtures. You pay nothing upfront.
Expert Management : Our team coordinates every detail, from selecting trusted vendors to securing bulk discounts, ensuring high-quality work on time and on budget.
Repay at Closing : Renovation costs are seamlessly repaid when your home sells, with no hidden fees or interest charges.
Maximize Your Sale Price : Updated homes sell faster and for more. In Sacramento, renovated properties can command 10-20% higher offers, translating to tens of thousands in your pocket.

Unlike traditional renovation loans or DIY projects, our program eliminates financial risk and logistical headaches. You get a turnkey solution tailored to your home’s needs, backed by Elevate’s expertise.

Why Choose Elevate’s Concierge Program?

Sacramento’s real estate market is hot, with median home prices hovering around $510,000 and buyers seeking move-in-ready properties. Here’s why our Concierge Program gives you the edge:

Speed to Market : Renovations are completed quickly, so your home hits the market at its peak value, attracting eager buyers.
Proven Results : Clients using our Concierge Program have seen homes sell in as little as 7 days, often above asking price. For example, a recent East Sacramento client transformed their 1980s kitchen and sold for $75,000 more than expected.
Stress-Free Process : We handle everything—permits, contractors, timelines—so you can focus on your next chapter.
No Risk, All Reward : With our Easy Exit Agreements, you’re never locked in. If you’re not thrilled, walk away anytime.

Real Client Success: The Johnson Family

Meet the Johnsons, who wanted to sell their Carmichael home but worried its outdated bathrooms would scare off buyers. With Elevate’s Concierge Program, we invested $15,000 in modern tile, vanities, and lighting. The result? Their home sold in 10 days for $50,000 above the original appraisal, with zero upfront cost to them. “Elevate made it so easy,” said Sarah Johnson. “We didn’t lift a finger, and the sale price blew us away!”

Is the Concierge Program Right for You?

If your Sacramento home needs a refresh to compete—or you simply want to maximize your return without the hassle—the Concierge Program is your answer. It’s ideal for:

Homes with outdated features (kitchens, bathrooms, flooring)
Sellers who lack time or funds for renovations
Anyone aiming to sell fast and for top dollar

Get Started Today

Ready to transform your home and unlock its full potential? As Sacramento’s premier real estate team, Elevate Realty Group is here to guide you every step of the way. Contact us today for a free consultation and discover how our Concierge Program can make your sale a success. Call (916) 436-SELL or visit www.homesbyelevate.com to schedule your appointment. Let’s elevate your home’s value—together!

How Our Concierge Program Makes Home-Selling Easier

steve@homesbyelevate.com (Steve LaMothe) — Wed, 16 Apr 2025 18:59:51 GMT

The Concierge Program simplifies selling for clients dealing with important life events like weddings and family responsibilities.

What if selling your home didn’t have to be so stressful? Between busy schedules, big life events, and everything in between, the process of selling homes seems like an impossible task. That’s exactly why we introduced our Concierge Program—to make home-selling easier, faster, and less stressful.

Recently, we were featured on the Armstrong & Getty radio show, where clients of our trusted expert Steve Lamothe shared their personal experiences working with us. Judy and Debbie, both with unique and very different situations, spoke about how the Concierge Program made a real difference during their home-selling journeys.

Debbie's experience:

Selling during major life changes. When Debbie came to us, she had been living in her home for 20 years. Naturally, after so long, the house needed some major repairs. On top of that, Debbie was planning her wedding and expecting a baby, and this made selling the house a huge challenge. That’s when our Concierge Program stepped in to help.

We handled everything for her: a full home makeover with painting, floor restoration, and even an unexpected roof replacement. Steve also found a reliable solution for the roof and secured a better price. We staged the home to improve its appeal and took care of all the logistics, from managing contractors and schedules to keeping things on track.

In just 2.5 weeks, everything was done. Despite the slower market season, her home received multiple offers and sold quickly. For Debbie, the Concierge Program meant being able to focus on her upcoming wedding and new baby without the stress of home-selling tasks.

Judy’s experience: Watch it here!

Caring for the family through a sensitive time. Judy has used our Concierge Program three times, including when she needed to sell her aunt’s home during a difficult period. Her aunt was dealing with Alzheimer’s, and the situation called for both care and discretion. Judy needed a solution she could trust—one that would be flexible and considerate of everything going on.

She praised the communication and follow-through of our team. From bigger tasks to small details like garage clean-out, Judy trusted us to keep things running smoothly while she focused on her family.

The Concierge Program is about making selling your home as smooth and hands-off as possible. It's for anyone going through a life transition or people who simply don’t want the stress of managing it all alone. If you’re in need of an extra hand, give us a call at 916-436-SELL , or check out homesbyelevate.com to learn more. We’re happy to assist you.

Why Stock Market Dips Shouldn’t Stop You from Buying a Home

steve@homesbyelevate.com (Steve LaMothe) — Thu, 27 Mar 2025 18:22:02 GMT

See how real estate remains stable even when the stock market dips, giving homebuyers confidence to move forward.

Are you wondering if the stock market has any impact on the real estate market? It’s a question I get a lot, especially when the stock market takes a hit—which it just did! With a recent 10% pullback, I’ve seen more buyers holding back from buying a home. Some even ask if they should wait for a possible recession.

Big financial shifts can really make anyone second-guess a major purchase. But let’s take a step back and look at the bigger picture. I’m breaking down how stock market activity can potentially impact real estate.

Stock dips don’t stop real estate growth. The stock market may have dipped recently, but it’s still far higher than it was in 2020 and remains n ear record highs. The same is true for real estate, as home values in Sacramento have nearly doubled over the past five or six years. This shows that a 10% to 15% drop in stocks is normal and hasn’t historically caused home prices to fall.

Even though a major crash could impact decisions, smaller dips like this are common and don’t mean home values are at risk. Both markets follow long-term growth trends despite short-term fluctuations.

"Even though a major crash could impact decisions, smaller stock market dips are common and don’t mean home values are at risk."

How the stock market can impact home-buying decisions. Even though home prices don’t change directly with the stock market, there are two main ways it can affect real estate. First, some buyers use their investments or retirement savings for a down payment. If the stock market is down, they might not want to sell their investments. Doing this could delay their home buying.

Second, when the stock market is unstable, people feel unsure about their finances. They opt to wait before making big decisions like buying a home.

Real estate is a long game. After all, most people don’t buy a home for just a year or two—they plan to live there or hold the investment for a decade or more. Over time, both the stock market and real estate tend to go up. That’s w hy short-term market swings shouldn’t be the deciding factor in a home purchase.

Stock market corrections are a normal part of investing, just like ups and downs in real estate. What matters most is looking at the long-term tr ends. If you have questions about how today’s market conditions could affect your real estate plans, give me a call at 916-436-SELL , or check out HomesbyElevate.com to learn more. I’m happy to help.

What Prop 19 Means for Homeowners Looking to Relocate in California

steve@homesbyelevate.com (Steve LaMothe) — Mon, 17 Mar 2025 20:46:31 GMT

Learn how Prop 19 allows eligible homeowners to transfer their low property tax rate to a new home.

In California, property taxes are based on your home’s purchase price, so longtime homeowners often pay much less than new buyers. But what if you want to sell and move to a new home without your tax bill skyrocketing? That’s where Proposition 19– or simply Prop 19– comes in. Let’s break it down.

How does Prop 19 work? Prop 19 lets eligible California homeowners transfer their current property tax rate to a new home anywhere within the state. This means you can sell your home, buy a new one, and keep your lower tax rate instead of paying based on today’s higher values.

"Prop 19 provides the flexibility to move without facing a massive tax increase."

Who qualifies for Prop 19? This program is available to California homeowners who are 55 years old or older, people with disabilities, and those affected by wildfires or natural disasters. If you’re downsizing, you get to keep your lower tax rate. If you buy a more expensive home, your tax basis adjusts, but you still receive some savings.

For many longtime homeowners, high property taxes are a major reason they feel stuck in their current homes. Prop 19 provides the flexibility to move homes without facing a massive tax increase, making it easier to relocate, downsize, or find a home that better suits your needs. So if you’re moving soon and need some advice, reach out to HomesbyElevate.com or call 916-436-SELL . I’m happy to talk anytime!

5 Reasons Behind Skyrocketing Home Insurance Costs

steve@homesbyelevate.com (Steve LaMothe) — Mon, 24 Feb 2025 17:51:51 GMT

Why home insurance companies are losing money, leading to rising costs.

Why are insurance rates increasing? If you've recently reviewed your home insurance bill, you may have experienced some serious sticker shock. Rates are rising rapidly, with some homeowners facing increases of 80%, 110%, or even 126%. It’s an alarming trend that leaves many wondering what’s driving these sharp increases. Let’s take a closer look at the key factors behind the surge in insurance rates.

1. Weather-related losses are at an all-time high. Natural disasters have always played a role in insurance costs, but in the last few years, the situation has gotten worse. It’s not just major hurricanes and wildfires, but also smaller events like hail storms and flooding are happening more frequently and causing widespread damage.

The Midwest is seeing more hail, the East Coast is dealing with stronger storms, and in California, wildfires have increased by up to 40%. More weather-related claims mean insurance companies are paying out more money, which leads to higher premiums for everyone.

2. Construction costs are driving up claims. The cost of rebuilding has nearly doubled in the past seven years and is therefore another major factor in the rising insurance rates. Materials and labor are more expensive than ever, which means insurance companies are paying out significantly more when covering claims. As a result, they’re adjusting premiums to keep up with rising costs.

3. Insurance companies are losing money: Despite what some might think, insurance companies aren’t making massive profits. The truth is they’ve been losing money for years. In 2023, analysts estimated that insurers needed to raise rates by at least 35% just to stay financially stable. For every dollar they collected in premiums, they were paying out $1.36 in claims. That’s not a sustainable business model, and major disasters only make things worse.

"If premiums become unaffordable, it could cool off the housing market in high-risk areas. "

4. Regulations are making things even harder: In some states, like California, strict regulations limit how quickly insurance companies can raise premiums. While these laws aim to protect homeowners, they’ve also led some insurance providers to pull out of the market entirely. When fewer companies offer coverage, competition decreases, and costs rise even further.

5. Reinsurance companies are passing down their costs: Most people don’t think about reinsurance companies, but they play a huge role in the industry. Large insurers—like AIG—act as a safety net for smaller providers by covering major claims when disasters strike. But these reinsurance companies are also losing money, so they’re increasing their rates. Those added costs eventually get passed down to homeowners.

Unfortunately, this isn’t just a temporary spike—more price hikes are coming and it’s turning into a full-blown crisis. States like California, Florida, and South Carolina are at risk of losing access to affordable home insurance altogether.

If premiums keep climbing—potentially reaching $15,000 a year—it could even affect home values. Buyers take insurance costs into account when purchasing a home, and if premiums become unaffordable, it could cool off the housing market in high-risk areas.

While this situation isn’t ideal, there are steps you can take. First, understand that this isn’t price gouging because insurance companies are simply trying to stay afloat. If your policy is up for renewal, lock in your rates now because prices are only going to rise over the next year. If you need help finding a reliable insurance provider, we can help you find one. Just call us at 916-436-SELL or send an email to  steve@homesbyelevate.com  .

What Lower Interest Rates Mean for Buyers and Sellers

steve@homesbyelevate.com (Steve LaMothe) — Fri, 21 Feb 2025 17:46:30 GMT

Learn how lower mortgage rates are improving affordability for homebuyers.

Have you been waiting for interest rates to come down before making your next move? We just saw one of the biggest drops in 30-year fixed mortgage rates in over a year, which brings them back to 2022 levels. Let’s break down what’s happening, why it matters, and what it means for buyers and homeowners.

Positive movement in interest rates: Mortgage rates have dipped to their lowest levels in the past 12 months, now hovering around 6% - 6.5%. That’s a significant shift, especially in a market like California, where interest rates have a huge impact on affordability. Even though the Fed hasn’t officially lowered rates, the mortgage market is already responding. That’s because mortgage rates tend to move based on the 10-year Treasury yield, which predicts where rates are headed in the future. Right now, the market is signaling that lower rates are coming.

Stock market & interest rates: One major reason for this shift is the stock market. As stocks trend downward, investors are betting that the Fed will ease up on rate hikes, which puts pressure on mortgage rates to drop. It might seem counterintuitive, but when the economy slows down, interest rates often follow.

"Rates will likely continue fluctuating, but the overall trend seems to be moving in a positive direction."

Implications for buyers & homeowners: For buyers, lower rates mean more affordability. If you’ve been waiting for a better time to buy, this could be it. If you purchased a home in the last year with a 7%-8% mortgage, it’s also a good time to start looking at refinancing options.

Future predictions & market volatility: Rates will likely continue fluctuating, but the overall trend seems to be moving in a positive direction. The market is always looking ahead, and right now, it’s predicting that rates will keep easing. If you’re considering refinancing, keep an eye on the market and check in with your lender to time it right.

If you’ve been on the fence about buying, now could be a great time to jump in. For sellers, demand is still strong, and homes are moving quickly. The market remains competitive, and this shift in rates could bring even more buyers back. If you have any questions, don’t hesitate to call us at 916-436-SELL or visit www.HomesByElevate.com to get started.

How Does Private Mortgage Insurance Affect Homebuyers?

steve@homesbyelevate.com (Steve LaMothe) — Tue, 21 Jan 2025 19:09:23 GMT

A homebuyer’s guide to PMI: what it is, who it’s for, and why it matters.

If you’re looking to buy a new home or have bought a home in the past, you’ve probably heard of private mortgage insurance. There are many misconceptions about PMI, like how it’s impossible to get rid of or that it’s better to avoid it altogether by saving for a 20% down payment instead. However, is it really better to put off homeownership just to avoid PMI? In my opinion, the answer is no, and if you understand what PMI is, you’ll understand why. That’s why today, I’m explaining what PMI is, how it works, and why you shouldn’t let it stop you from purchasing a home and building equity.

Is everyone required to pay PMI? No. PMI is an insurance policy that you pay to protect the lender if you stop making mortgage payments, and it’s required only when you put down less than 20% on your home. If you're putting in more than 20%, then you won’t need PMI.

How do you drop PMI? The good news is that PMI can be removed once you’ve built up 20% equity in your home. Even if you didn’t put 20% down, you might already have 20% equity in your house if you’ve owned it for a few years. You can then contact your lender and ask them to remove PMI, but they may need an appraisal to confirm it.

"It’s quicker and easier to manage PMI than to wait until you’ve saved up a full 20% down payment for your home."

On the other hand, if you don’t want to wait for your home’s value to increase, you can make a lump sum payment to reduce your loan balance. This will boost your equity and allow you to ask your lender to remove PMI right away.

Dropping PMI can save you $200 to $400 a month. That’s money you could use for other things or put toward paying off your mortgage faster. However, is this cost work putting off your home purchase? In my opinion, the answer is no. The reality is it’s often quicker and easier to manage PMI than to wait until you’ve saved up a full 20%. Home values rise over time, so if you wait, you might miss out on equity. Often, the equity you’ll gain will more than make up for your PMI payments.

I hope this information was helpful. But if you still have more questions, or better yet, ready to take the next step in buying your home, give us a call at 916-862-5463 . We're here to help guide you through the process.

Must-Know Real Estate Trends for Homebuyers in 2025

steve@homesbyelevate.com (Steve LaMothe) — Thu, 02 Jan 2025 19:45:58 GMT

Real estate showed resilience in 2024—what's next with rates and inventory?

2024 has been a year full of unexpected events. From political turmoil and global economic shifts to crypto fluctuations and escalating international conflicts, it has certainly been a turbulent time. However, despite all the chaos, one sector has remained surprisingly resilient—the real estate market. Let's look back at what happened in real estate in 2024 and what is expected for 2025.

What happened in 2024?

1. Market resilience amid chaos. The year was marked by global uncertainty, from geopolitical conflicts to economic fluctuations. Despite these challenges, the real estate market remained steady. Home values increased by approximately 3% to 4%, providing stability for homeowners and investors.

2. Low inventory and low sales. High interest rates played a significant role in shaping the market. These rates made it difficult for buyers to afford homes and discouraged sellers with low-rate mortgages from listing their properties. As a result, inventory remained tight.

3. Sales trends

• We are likely to see home sales staying below 4 million, similar to 2023. Meanwhile, Sacramento saw a significant improvement, with sales increasing by 10–15% compared to the previous year.

• Many buyers who had been waiting on the sidelines due to high rates decided they could no longer delay their purchases, contributing to slightly improved sales figures.

4. Inventory is creeping up. Inventory levels are beginning to creep up, leading to homes staying on the market longer and more frequent price reductions. Despite these changes, inventory levels in several areas remained below pre-pandemic norms.

"Waiting will hinder your net worth and economic security."

What to expect in 2025

1. Sluggish 2025. Looking ahead to 2025, the market is expected to remain relatively sluggish, particularly during the first half of the year. With a new administration implementing pro-growth policies, there are hopes for economic stimulation and increased investment, which could boost consumer confidence.

What this means: This shift could encourage buyers to make significant financial decisions, such as purchasing a home, once they feel more secure in the economy. However, the outcome of these policies remains uncertain, and the impact on the housing market will depend heavily on how these economic changes unfold.

Interest rates will still be high. Interest rates are projected to remain stubbornly high, likely hovering around 6 to 7% throughout 2025. While the Federal Reserve is unlikely to aggressively lower rates, any slight dip in interest rates could create a surge in buyer demand. Should this happen, we could see a 10% increase in home sales compared to 2024. Home prices are expected to appreciate at a more typical rate of 2 to 4%, consistent with historical trends.

Economic chaos. Global economic uncertainty is expected to continue. Despite this, there is hope for a positive employment outlook, with jobless claims likely to remain steady. The U.S. economy may also see an influx of investments, leading to job creation and further economic growth. These developments, however, remain speculative, and the future remains unpredictable.

The great news

The real estate market should remain relatively stable in 2025, with minimal changes in interest rates. Although the global economic situation may present challenges, the housing market is expected to continue its steady course, with home values gradually appreciating over time.

If you've been putting off buying a home, you're limiting your financial growth. Waiting will hinder your net worth and economic security. Compound interest is an incredible tool, but its key is time. By waiting for rates to drop, you're costing yourself a lot of money. The message is clear : if you don’t own a home, buying one will set you on the road to financial security and the middle class. If you need proper guidance, contact me at 916-862-5463 or email me at Steve@HomesByElevate.com . Let's work together for a successful 2025!

What Repairs Are Home Sellers Obligated To Make?

steve@homesbyelevate.com (Steve LaMothe) — Fri, 20 Dec 2024 16:11:42 GMT

Learn about lender-required vs. cosmetic repairs and how to negotiate them.

As the year comes to a close, a common question among buyers and sellers is: What repairs is the seller required to make, and how does the repair negotiation process work? Here's what you need to know.

First, sellers are not obligated to make any repairs . Repairs are part of the negotiation process and can be categorized into two types: lender-required repairs and cosmetic or deferred maintenance. Lender-required repairs are necessary for buyers seeking financing, and the seller must complete them for the deal to close. Cosmetic repairs, such as dry rot discovered during the inspection, are negotiable and typically involve minor issues that arise once the buyer is under contract.

When entering negotiations, buyers should only request repairs that were unknown before the offer was made. Buyers should not assume they can ask for repairs on issues that were visible before the offer was submitted. Doing so can complicate negotiations. Additionally, your deposit is protected by an inspection contingency, which provides a set period—typically 12 to 14 days—to request repairs based on the inspection results.

"As a seller, my advice is to handle necessary repairs before listing the home."

Once repairs are agreed upon and the contingency is removed, the deposit is no longer protected. This makes repair negotiations a critical point in any real estate transaction. The primary reason deals fall out of escrow is when the buyer requests legitimate repairs, and the seller refuses to make them, or when the seller demands more money than the buyer is willing to pay for those repairs.

As a seller, my advice is to handle necessary repairs before listing the home. This generally leads to fewer repair requests and a smoother transaction. For buyers, it’s essential not to overreach and request repairs that do not significantly affect the home’s value or livability. In the long run, many minor issues will not matter once you've moved in.

Key takeaways:

1. Only request repairs that are required by the lender or are urgent, legitimate issues.

2. Home prices often reflect deferred maintenance, and repairs should align with that.

3. Approach negotiations with grace, understanding the other side’s perspective to reach a win-win outcome.

Repair negotiations are often the reason deals fall apart. By understanding which repairs are necessary, addressing them early, and approaching negotiations thoughtfully, both buyers and sellers can ensure a smoother process. If you need guidance, don’t hesitate to call me at  (916) 862-5463  or email me at  steve@homesbyelevate.com  . Let’s make sure your deals don’t fall apart!

What Do Experts Forecast for the 2025 Housing Market?

steve@homesbyelevate.com (Steve LaMothe) — Tue, 12 Nov 2024 16:56:15 GMT

Despite 6%- 8% interest rates, home values are projected to appreciate by 3%- 5%, offering stability in a tight Sacramento market.

After a long, tumultuous election cycle, the dust is finally settling. It’s been a wild two years, and while politics often steals the spotlight, the real estate market has its own story.

With Thanksgiving and the holiday season upon us, I’m taking a moment to reflect. At Elevate Realty Group, we are truly grateful. The past two years have marked the lowest home sales in the Sacramento region’s history, yet our team has thrived. And it’s all thanks to you—our clients and supporters. Your trust and loyalty drive our success, and I am incredibly thankful.

Now, if you plan to buy or sell a home, here’s what I see for 2025 and what it means for you:

High interest rates are likely here to stay, ranging between 6% and 8%. I get it—that’s not the news anyone wants to hear. But understanding why can help you plan better. The government’s significant spending in recent years has created lasting effects, including the need for higher interest rates to manage inflation. The Federal Reserve is focused on stabilizing the economy, and part of that battle means accepting higher rates and potentially rising unemployment.

Low sales, but not without hope. I wish I could say we’re about to see a booming market, but that’s not true. I predict only a modest 10% increase in home sales compared to 2024. It’s a step forward but not enough to change the overall dynamic. Many homeowners with existing low mortgage rates are choosing to stay put, which means tight inventory. But here’s the silver lining: home values are still set to rise.

"I recommend looking for similar homes within your zip code."

Real estate appreciation holds steady. For homeowners, there’s good news. While we won’t see sky-high price jumps, a constant 3% to 5% appreciation aligns with historical norms. This means your investment will continue to hold its value and grow. In times like these, stability is reassuring.

It might be time to reconsider if you’ve been waiting to buy. Those who sat out waiting for interest rates to dip have often been proven wrong. The market may not be perfect, but staying on the sidelines could mean missing out on equity gains and other opportunities. Don’t let hesitation cost you in the long run.

As this year winds down, I encourage you to focus on what matters most—family, connection, and looking ahead. The real estate market, like life, has its ups and downs. The secret? Staying informed and ready to make your move when the time is right.

The 2025 market may not be a perfect picture, but it will be more than manageable with the proper guidance. At Elevate Realty Group, we’re here to help you navigate whatever comes next. Whether you’re buying, selling, or just exploring your options, contact me at (916) 862-5463 or steve@homesbyelevate.com . Let’s make a plan for a year of resilience and growth together.

The Best Way To Strategically Price Your Home for Sale

steve@homesbyelevate.com (Steve LaMothe) — Tue, 22 Oct 2024 13:46:33 GMT

How condition, location, and local supply ultimately affect your price.

As we officially enter the fourth quarter of the year, it's a great time to reflect on some of the key topics we've discussed throughout the year, particularly when it comes to real estate. Whether you're thinking about selling your home in the near future, pricing your home correctly is crucial for a successful sale. Here are three key things you can use to find the best price for your home:

1. Condition. This might be the single most important factor when selling your home since it’s one you can actually control. Homes in better condition not only sell for more money, but they also sell faster and with better terms. How far you go to improve your home’s condition before selling is up to you, but a few simple things you can do include doing a fresh paint job, updating old flooring, fixing cosmetic problems, etc. If you need a more detailed guide on how you should upgrade your home, just reach out to me; I’d love to go over your situation with you.

"I recommend looking for similar homes within your zip code."

2. Location. While you can’t change your home’s location, it’s critical when you’re deciding what your list price should be. Real estate is hyper-local, so you can’t take for granted that houses in one neighborhood are just as desirable as ones a few streets over. If your home happens to be in a less desirable part of the neighborhood, you can offset that disadvantage by focusing on improving your home’s condition. Buyers may be willing to overlook the less-than-ideal location if your home is in better condition compared to others in the area.

3. Supply. A lot of sellers ignore this factor when pricing their homes, but you shouldn’t. Don’t just consider your local neighborhood; even supply in your wider area can have an impact on your price. Do some research and look for houses similar to yours in your zip code. This way, you can get a better idea of what the competition is pricing at and go from there. After all, if you price way above what a similar home is listed for nearby, your home might not get many showings.

If you're thinking about selling your home or have any questions, feel free to reach out to us at our website or give us a call at 916-436-SELL. We're here to help you navigate the real estate market and make the best decisions for your situation.

Top 3 Reasons Buyers Cancel Escrow in 2024

steve@homesbyelevate.com (Steve LaMothe) — Thu, 19 Sep 2024 19:12:17 GMT

Discover why remorse, surprise repair issues, or appraisal hiccups leave buyers with no choice but to cancel escrow.

Why do buyers cancel escrow, and what can you do to stop it? Continuing our educational series, we’re tackling one of the most frustrating issues in real estate, and understanding why buyers back out after accepting an offer can save you time, money, and a lot of headaches. Here are the top three reasons deals fall apart and, more importantly, how you can prevent these deal-breaking problems from derailing your sale:

1. Buyer’s remorse. In today’s 2024 market, approximately 30% of all properties in escrow end up back on the market. The No. 1 reason? Buyer’s remorse. With interest rates high and homes more expensive than ever, buyers often feel pressure to make quick decisions. Unfortunately, around 50% of cancellations happen within the first few days after an offer is accepted. This can be difficult to prevent, but experienced agents often sense when a buyer hesitates. By asking the right questions and getting a feel for the buyer’s motivation and agent, you can minimize the risk of a deal falling through due to buyer’s remorse.

"Buyer’s remorse, repair issues, and appraisal discrepancies are the top reasons deals fall through in 2024."

2. Repair issues. The second most common reason for escrow cancellations is repair issues. After a buyer’s offer is accepted, they typically conduct inspections. If unexpected repair needs arise during these inspections, it can make buyers second-guess whether they still want the property. This creates a “second negotiation,” as buyers often request repairs or concessions, leading to heightened tensions. To prevent this, I recommend completing pre-inspections and handling necessary repairs before listing the home. At Elevate Realty Group, we follow this process 99% of the time, drastically reducing the risk of cancellations. When buyers find nothing unexpected in their inspections, the transaction moves forward smoothly.

3. Appraisal discrepancies. The third issue that often causes deals to fall apart is appraisal discrepancies. Imagine this: the buyer offers $500,000 for your home, but the appraisal comes back at $450,000. Now you’ve got a problem. Appraisal issues create another round of negotiations, and if the buyer and seller can’t agree, the deal may collapse. The best way to mitigate this is by working with an experienced agent who can price homes within market value. Pricing your home accurately helps prevent surprises during the appraisal process and keeps the deal on track.

These potential issues—buyer’s remorse, repairs, and appraisal problems—can often be avoided with careful planning and the right real estate agent. When sellers take the proper steps upfront, they significantly increase the chances of a successful sale. If you have any questions or need help with your real estate needs, please contact us at (916) 862-5463. Most of the horror stories in real estate stem from not having a clear plan or an experienced agent who knows how to manage these challenges.

Interest Rates Update: What Homebuyers Need to Know

steve@homesbyelevate.com (Steve LaMothe) — Wed, 14 Aug 2024 21:22:25 GMT

What you need to know about the latest interest rate trends.

The real estate market has shown more positive signs in the past 18 months than we've seen in a long time. It's been a long and challenging journey, but we've finally witnessed one of the largest decreases in 30-year fixed rates over a year. This shift in the market has the potential to open doors for many who felt homeownership was out of reach. I’ll discuss this decrease and why it's a game-changer.

Significant decline in 30-year fixed rates. We've hit a new low for 30-year fixed rates in the past year and a half. Today’s rates are comparable to those in early 2022, hovering around 6% to 6.5%. That’s a big deal when considering California housing prices. So, what’s driving this reduction? Even though the Federal Reserve (the Fed) hasn't recently met or reduced interest rates, we're seeing these changes.

Understanding rate predictions. You might remember from our educational videos two years ago when the Fed began increasing interest rates. Forecasts of the 10-year Treasury largely influence thirty-year fixed mortgages. The market is signaling that it expects interest rates to decline.

"Bad news for the economy often means good news for interest rates—now might be the right time to buy or refinance."

Stock Market Influence. This anticipation is linked to the stock market’s recent downturn. As the stock market unwinds, there’s a growing expectation that the Fed will soften its interest rate policy as we move further into the year. This puts downward pressure on interest rates and the 10-year Treasury, making borrowing more affordable.

Economic factors and rate volatility. But it’s not all sunshine and rainbows. It’s ironic, but bad news for the economy can be good news for interest rates. If you’re a buyer in today’s market or bought in the last year with a 7% to 8% mortgage, it might be time to consider refinancing or buying. I predict that interest rates will fluctuate as the economy navigates these uncertain times.

Looking ahead: what should you do? The stock market is a predictor, forecasting where the economy is headed in the next quarter or year. Similarly, as interest rates fall, it’s a signal that people expect rates to continue dropping. I would anticipate a volatile rate market, so keep an eye on it if you're considering refinancing or buying a home.

If you’ve been holding off on buying a home because of high interest rates, now might be the time to start looking. Rates in the 6% range could be an excellent opportunity to lock in a mortgage. I expect rates to trend downward for the rest of the year, but volatility will remain. Avoid making rash decisions based on news headlines or market fluctuations, especially regarding stock trades or liquidating 401(k)s.

We’re trying to determine the current economy—whether job numbers indicate a recession or an economic slowdown. This uncertainty is driving interest rate momentum and volatility. If you’re considering selling, reach out to us. It’s been a great year for home sales; prices are still high, and homes are selling fast. If you want to buy a house, please visit us at www.homesbyelevate.com . We’re here to help or at least educate you on the process.

Good News! Interest Rates Have Peaked

Fri, 26 Jul 2024 14:16:07 GMT

Learn about the latest news on interest rates in today’s market.

We’ve been in a challenging interest rate environment for almost two years now, but that might be about to change. If you’re planning to buy a home, refinance, or if you bought a home in the last year and a half and your payments are higher than you’d like, then here’s some good news for you. We can finally say without a doubt that interest rates have peaked. We’re certainly well off the high of about 8.5%. We’ve been starting to hear and see that the core inflation numbers year-over-year have started to moderate, and they’re within the range where the Feds want them to be.

While not everything is perfect, as many goods continue to be very costly, inflation is well under control and not rising. In the last two years, the Consumer Price Index data showed that when you consider food, groceries, gas, motor vehicles, auto insurance, and other items, prices have increased by nearly 28% across the board, which is ridiculous.

However, the most recent CPI numbers range between 2.5% and 3%. This means that the statistics for July are only 2.5% to 3% higher than they were in July of last year. The Fed wants to see this trend continue month-over-month to confirm that inflation is truly evening out and not increasing.

"I believe we’ll see rates drop below 7% within the next six to 12 months."

Because of this, people are anticipating some changes in interest rates. We might see some quarter- to half-point decreases in the federal funds rate as early as next month, and by September, we’ll likely start to see interest rates adjust and come down.

It’s important to remember that this is not a prediction, and do not rely only on it to make any sudden decisions. However, if you’ve been priced out of the market due to high interest rates or are waiting to refinance, I believe we’ll see rates drop below 7% within the next six to 12 months. Currently, rates are between 7% and 7.5%, but I wouldn’t be surprised to see them at 6% to 6.5% by the end of the year. This could create opportunities for many to enter the market or refinance.

If you’re considering buying or selling, reach out to us at www.homesbyelevate.com or call us at (916) 436-5050.

Biggest Change in 3 Years Headed to the Market

steve@homesbyelevate.com (Steve LaMothe) — Mon, 15 Jul 2024 18:57:45 GMT

Learn more about today’s inventory and its impact on buyers and sellers.

It’s summer, and we are halfway through the year. Even though I am on vacation in the mountains of Truckee, I couldn’t wait to share some important updates with you. There's big news in the national and Sacramento real estate markets that you need to know about inventory.

Nationally, we’ve seen a significant increase in the housing inventory. It surpassed four months of supply for the first time in over three years. This is big news because low housing inventory has been a major factor that drives competitiveness in the market, like what we have been experiencing lately.

There are several factors that influenced the rise in inventory. Initially, the COVID-19 pandemic led many homeowners to hold onto their homes. But as the pandemic started to ease, buyer demand surged—during this time, homes sold quickly. But then, the rising interest rates discouraged homeowners from selling and moving, which affected the amount of inventory in the market.

"With more homes available, there’s less competition and better opportunities to negotiate."

Now, we are seeing a 30% to 35% increase in inventory nationally. This is causing slower home sales, potentially affecting home prices. We’ve also seen a 20% increase in price reductions locally, and while it’s not unusual during the summer months, it’s still good to be aware of it.

For buyers, this increase in inventory is good news. With more homes available, there’s less competition and better opportunities to negotiate. As interest rates moderate, buying a home is easier. Locally, we haven’t yet reached three months of supply, meaning we are still in a seller’s market, but the trend toward increased inventory favors buyers.

If you're thinking about buying or selling a home, don't hesitate to contact us at 916-436-SELL. We're also offering free, no-obligation renovation consultations, even if you're not planning to move for a while. We're committed to providing value and helping you make the best decision for your real estate goals.

Where Are Californians Going When They Move Out of State?

steve@homesbyelevate.com (Steve LaMothe) — Fri, 07 Jun 2024 16:27:41 GMT

Find the perfect place for your out-of-state move according to recent data.

I’m back again for another breakdown of the hottest states that Californians move to for their next home. We first released this list two years ago, and it has gained lots of interest from our clients. These are anecdotal pieces of evidence from us based on my experience as the number one team in the market. We’ve helped move over 70 families out of state this year, and have perfected a seamless process to make it easy. Here’s where most Californians are going when they move out of state:

1. Tennessee. As with last year, I received a lot of questions about the best and most affordable locations to move to in Tennessee. While it's still popular, it’s not as cheap as before. Franklin and the suburbs of Nashville are the most common places that people move to. Now, you might want to consider areas like Thompson Station or other suburbs outside Nashville. You can also check out Knoxville if you like a more hilly landscape similar to the Sacramento foothills.

"We’ve helped hundreds of clients move in and out of state seamlessly over the years."

2. Texas. This state remains popular for Californians thanks to lower taxes, and there are still a lot of affordable locations available. Anecdotally, the Dallas-Fort Worth area has been a popular choice since five or six years ago. People are also looking in Austin, but the suburbs are getting pricier.

3. North and South Carolina. These two states continue to gain popularity with people looking to enjoy the great weather and beauty of the coast without major hurricane risks, unless you’re right up on the coast. Most of all, affordability is incredible compared to Tennessee, Texas, or Florida. You can find great homes in North and South Carolina under $400,000.

We’ve helped hundreds of clients move in and out of state seamlessly over the years. We can even help you buy your next home out of state first, then renovate and sell your Sacramento home after you’ve settled in. As always, if you’d like to schedule a time to talk about this, visit our website at homesbyelevate.com or call us at (916) 436-SELL. I have partners and great agents all over the nation who will be happy to sit down with you and talk with you.

Projections and Predictions For The Future of Our Real Estate Market

steve@homesbyelevate.com (Steve LaMothe) — Thu, 16 May 2024 21:43:32 GMT

Things may seem unpredictable, but patience will pay dividends.

In a recent conversation, we dove into the current state of the real estate market—a landscape characterized by uniqueness, unprecedented conditions, and a touch of confusion and concern. These insights shed light on some pressing questions many homeowners and prospective buyers are grappling with.

Feel free to watch the full message above or use these timestamps that will direct you to various points in the video.

0:00 — Introducing today’s topic

0:15 — Are we headed for a crash?

2:00 — selling in this climate

4:30 — the future of the market

6:00 — Wrapping up

There's no perfect time to buy or sell, but strategic decisions aligned with personal goals can lead to long-term success in real estate. If you have any questions, don’t hesitate to reach out to us by phone or email.

A Guide To Choosing the Perfect Agent to Help You This Spring

steve@homesbyelevate.com (Steve LaMothe) — Fri, 19 Apr 2024 19:33:11 GMT

You don’t want to face the busy spring market without a great agent.

As we dive into the bustling spring real estate market, the landscape may feel familiar yet subtly different from the previous year. While inventory remains tight, there's a slight uptick in listings compared to last year, about 8% to 10%. However, amidst this flurry of activity, one critical aspect stands out: the pivotal role of selecting the right agent when buying or selling a home.

The decision to buy or sell a property is significant, and the choice of your agent can make all the difference in ensuring you secure the best deal. So, what's the number one thing you can do to set yourself up for success in this process? It's simple: interview at least three agents.

Feel free to watch the full message above or use these timestamps to direct you to various points in the video.

0:00 — Introducing today’s topic

1:30 — Use your network

2:30 — Do research

3:40 — Find well-reviewed agents

5:00 — Local provider network

6:30 — Wrapping up

Don't hesitate to reach out if you have any questions or need guidance throughout the process. Choosing the right agent is the first step toward achieving success in the spring real estate market.

Unpacking the NAR Settlement: What It Means for You

steve@homesbyelevate.com (Steve LaMothe) — Fri, 22 Mar 2024 22:14:08 GMT

Navigating the changes in real estate after the NAR settlement.

In the realm of real estate, recent headlines have sparked widespread discussion and concern. The lawsuit and settlement involving the National Association of Realtors (NAR) have led to rumors of disappearing real estate agents and the end of 6% commissions. Today, we dive deep into these developments to provide clarity and honest insights from both a licensed real estate agent and an experienced consumer perspective.

Feel free to watch the full message above or use these timestamps that will direct you to various points in the video:

0:00 — Introduction

1:07 — The case in a nutshell

2:38 — The core issues

3:45 — Commissions aren’t fixed

6:43 — Issues with the system

7:35 — What will change?

9:38 — This will drive more value

10:32 — Wrapping up

While sensational headlines capture attention, it's crucial to look beyond them and understand the reality of these industry changes. The settlement highlights the importance of transparency, negotiation, and value in real estate transactions. As we navigate these developments, our commitment to providing exceptional service and empowering our clients remains unwavering.

For those considering a career in real estate or seeking more information on this topic, please reach out by phone or email today.

The top 10 things to do in Folsom!

steve@homesbyelevate.com (Steve LaMothe) — Thu, 14 Mar 2024 14:36:45 GMT

All things Folsom! Elevate is your Folsom real estate experts!

Folsom, California, is a vibrant city with a rich history and an abundance of activities for locals and visitors alike. Whether you're a history buff, outdoor enthusiast, or looking for family-friendly activities, Folsom has something for everyone. Here are the top 10 things to do in Folsom, CA, that you won't want to miss. Being Folsom residents of course we absolutely LOVE LOVE it here! We wanted to share some of the best things about our beloved city.

1. Folsom Lake State Recreation Area

Outdoor Adventures: Engage in a variety of activities such as boating, fishing, hiking, and mountain biking across the park's extensive trails and open spaces.
Family Picnics: Enjoy scenic picnic areas with barbecue pits and shaded tables, ideal for a relaxing day out with family and friends.
Water Sports: Rent a kayak, paddleboard, or sailboat to explore the lake's serene waters, or take a refreshing swim in designated areas.

2. Historic Folsom

Sutter Street: Stroll down the picturesque historic district, lined with beautifully preserved buildings, unique antique shops, boutiques, art galleries, and a variety of restaurants and cafes.
Folsom History Museum: Delve into the city's rich history, from its Native American roots to its pivotal role in the Gold Rush, and learn about the influential figures who shaped Folsom's past.
Art and Culture: Experience the vibrant arts scene with live performances at the Sutter Street Theatre, art exhibitions at the Folsom Art Center, and seasonal events like the Folsom Renaissance Faire.

3. Folsom City Zoo Sanctuary

Conservation Focus: The sanctuary is dedicated to providing a safe haven for rescued and rehabilitated animals, with a strong emphasis on education and conservation efforts.
Family-Friendly: Explore the zoo's diverse habitats, which house a variety of animals, including bears, wolves, and big cats, and participate in interactive educational programs.
Special Events: Enjoy seasonal events such as "ZooLights" during the holidays, where the zoo is transformed into a magical wonderland of lights and festive decorations.

4. Folsom Prison Museum

Historic Landmark: Gain insight into the notorious Folsom State Prison, established in 1880, and learn about its famous inmates, including Johnny Cash, who famously performed at the prison.
Unique Exhibits: View a collection of artifacts, photographs, and memorabilia that chronicle the prison's history, including handmade weapons, inmate artwork, and guard uniforms.
Gift Shop: Find a range of souvenirs, from Johnny Cash memorabilia to prison-themed merchandise, perfect for unique gifts or keepsakes.

5. Folsom Premium Outlets

Shopping Galore: Discover a shopper's paradise with over 80 outlet stores offering discounts on designer brands such as Nike, Coach, and Michael Koors.
Dining Options: Refuel at one of the many dining options available, from casual eateries to sit-down restaurants, catering to a variety of tastes and preferences.
Convenient Location: Situated just off Highway 50, the outlets are easily accessible for both locals and visitors, making it a popular shopping destination.

6. Lake Natoma

Tranquil Waters: The calm waters of Lake Natoma are perfect for peaceful kayaking, canoeing, and stand-up paddleboarding, offering a serene escape from the hustle and bustle.
Bike Trails: The scenic trails around the lake provide excellent opportunities for cycling, jogging, or walking, with picturesque views of the water and surrounding nature.
Picnic Spots: Find numerous picnic areas along the lake's shores, where you can relax, enjoy a meal, and take in the beautiful natural surroundings.

7. Folsom Powerhouse State Historic Park

Engineering Marvel: Discover the fascinating history of one of the earliest hydroelectric power plants in the United States, which played a crucial role in the electrification of California.
Guided Tours: Take a guided tour of the powerhouse to learn about its innovative engineering, the challenges faced during its construction, and its impact on the region's development.
Scenic Views: The park offers stunning views of the American River, providing a picturesque backdrop for picnics, photography, and nature walks.

8. Harris Center for the Arts

Cultural Hub: Experience a wide range of cultural events, including classical and contemporary concerts, ballets, theater productions, and art exhibitions, showcasing local and international talent.
Educational Programs: Engage in educational workshops, lectures, and classes designed for all ages, promoting the arts and fostering creativity in the community.
Modern Facility: The state-of-the-art venue features multiple theaters, galleries, and studios, providing a world-class setting for performances and exhibitions.

9. Folsom Valley Railway

Historic Train Ride: Enjoy a nostalgic ride on a miniature scale steam train, a beloved attraction that has been delighting visitors for over 40 years.
Scenic Route: The train journey takes passengers through a picturesque park, offering views of lush landscapes, ponds, and local wildlife.
Family Tradition: This charming train ride has become a cherished tradition for many families, providing a fun and unique experience for children and adults alike.

10. American River Bike Trail (Jedediah Smith Memorial Trail)

Outdoor Exercise: This 32-mile trail is a favorite among cyclists, runners, and walkers, offering a scenic and safe route along the American River.
Scenic Beauty: The trail is known for its beautiful views of the river, diverse wildlife, and lush greenery, making it a perfect spot for nature lovers.
Connectivity: Starting from Folsom and ending in Sacramento, the trail provides various entry and exit points, allowing users to customize their journey and explore different areas along the river.

Why Waiting To Buy a Home Could Cost You in the Long Run

steve@homesbyelevate.com (Steve LaMothe) — Tue, 05 Mar 2024 17:38:13 GMT

Here’s why it does not pay to wait to purchase a home in this market.

We've officially entered springtime for Real Estate, and I've been repeatedly asked whether now is a good time to buy a home. Many buyers seem hesitant, and I believe it's worth addressing. So, is now the right time to buy a home?

Imagine you were considering buying a home in early spring 2023 but decided to hold off until interest rates fell. Now, if you're entering the market this year with the same expectation, it might end up costing you substantially. Here's why:

First, interest rates haven't decreased; they're averaging around 7%, and there's little evidence to suggest they'll drop significantly anytime soon. Second, home values have risen 4% on average since last year. So, compared to 2023, you could end up paying $20,000 to $25,000 more for a $500,000 property this year, with interest rates remaining the same.

"Your primary residence gains value as an investment over time."

Furthermore, consider the long-term vision when purchasing a home. While your primary residence isn't solely an investment, it significantly contributes to your net worth over time. Those who have kept their first homes often find themselves with substantially more wealth later on.

The fear of buying now due to potential future interest rate drops or price decreases lacks substantial evidence. Don't let fear hinder your ability to build long-term net worth. Remember, the average net worth of a homeowner far surpasses that of a renter.

Finally, we'll be hosting an event at the end of March featuring a trust attorney discussing the importance of trusts for your family and home. This is a free event, so keep an eye out for the invitation.

If you have any questions or are considering buying a home, feel free to call or email us. We're always here to help!

The Impact of Rising Mortgage Rates on Buyers and Sellers

steve@homesbyelevate.com (Steve LaMothe) — Tue, 13 Feb 2024 18:48:04 GMT

Understanding 2024’s high interest rates & their market impact.

As we delve into the implications of the current 8.5% interest rates, it's important to understand what's driving this surge and what it means for the housing market going into 2024. With buyer demand showing signs of a slow decline due to the rate hikes, let's break down the key factors at play and offer some advice for both buyers and sellers in this evolving landscape.

In regions like Sacramento, the average mortgage payment has skyrocketed to about $4,000 a month on an average sale price of $450,000. This is a significant jump from just two years ago when payments hovered around $2,600 to $2,800. Such an increase has tilted the scale, making renting a more viable option for many unless a substantial down payment can be made to lower loan balances.

Interest rates for 30-year fixed mortgages have hit a 25-year peak, with projections suggesting a potential rise to 9% in 2024. This trend aligns with the historical average of about 8.5% but comes as a shock to many who've enjoyed lower rates in recent years. The primary driver behind this surge is a stronger-than-expected economy, prompting the Federal Reserve to adjust borrowing rates to manage economic growth.

"Whether you're looking to buy or sell, the key is to stay informed and prepared for the market's fluctuations."

Recent Fed meetings have shown a cautious approach, opting to hold interest rates while assessing new economic data. A notably robust job market report indicates a thriving economy, which could lead the Fed to increase rates further in an attempt to curb inflation and regulate jobless rates, aiming for an unemployment rate between 4% to 6%.

For sellers, the beginning of 2024 might be the optimal time to list your property, anticipating potential economic challenges ahead. Buyers, on the other hand, should focus on saving for a substantial down payment rather than counting on future refinancing opportunities. Despite the high interest rates, owning a home remains a worthwhile investment compared to renting.

As we face a period of high interest rates into 2024, understanding the underlying economic factors and planning accordingly can help us navigate these challenging times. Whether you're looking to buy or sell, the key is to stay informed and prepared for the market's fluctuations.

For more insights and assistance with your real estate needs, feel free to visit our website or give us a call.

Elevate Concierge: A Stress-Free Property Transformation Process

steve@homesbyelevate.com (Steve LaMothe) — Wed, 31 Jan 2024 16:37:40 GMT

Elevate Concierge is here to help relieve the stress of selling your home.

Embarking on a concierge remodel journey can be a game-changer, especially when it comes to selling a property. Elevate Concierge, a unique program, takes the hassle out of renovations, managing everything from planning to execution. Today, let's delve into a recent success story that showcases the power of Elevate Concierge.

We took on the task of transforming a property left by the client's mother. The house was full of sentimental belongings, and the siblings were unsure about the next steps. Within two weeks, Elevate Concierge efficiently cleared out the property, auctioning, selling, and donating the belongings. This initial step alone relieved the clients of immense stress. With a budget of $21,000, we went on to perform strategic renovations, including new flooring in bathrooms and living areas, a fresh coat of paint, updated landscaping, and a rebuilt deck.

"The concierge program is not just a promise; it's a proven reality."

The transformation was remarkable, adding an estimated $70,000 in value to the property, all while keeping the cost at only $15,000. Elevate Concierge's approach not only enhances the property's appeal but also simplifies the selling process for overwhelmed homeowners.

From managing the logistics of property clearance to executing strategic renovations, Elevate Concierge takes care of it all. If you find yourself overwhelmed with the prospect of selling a home, consider reaching out at 916-436-SELL or visit www.homesbyelevate.com.

Sell Smarter, Not Harder: The Art of Strategic Home Renovations

steve@homesbyelevate.com (Steve LaMothe) — Thu, 18 Jan 2024 15:26:58 GMT

Sharing lucrative projects you should take on when preparing to sell.

Today, let's discuss a commonly asked question regarding selling houses: the necessity of making repairs and which ones are crucial. This topic is highly searched on Google, reflecting its significance. As one of the foremost authorities on home renovations in Sacramento, having completed around 550 concierge remodels, I'll provide insights into what repairs will help maximize your return on investment.

Feel free to watch the full video or use these timestamps to browse specific topics at your leisure:

0:00 — Introduction

1:05 — What usually happens when preparing a home for sale

2:05 — Paint

2:38 — Flooring

4:03 — Decluttering

5:10 — Start preparing and planning before making a move

5:38 — A reminder

6:23 — Wrapping up

If you have any questions about this topic, call or email us. We’re happy to help.

The Latest News on Interest Rates and Our Housing Market

steve@homesbyelevate.com (Steve LaMothe) — Tue, 19 Dec 2023 22:53:54 GMT

Essential insights into repair negotiations for home buyers and sellers.

Today, let's delve into the intricacies of interest rates and dissect the implications of the recent Federal Reserve. In case you don’t know, the Fed decided to maintain, not raise or lower, interest rates. Despite all the hype in the market, you can’t give in to sensationalism. Let me explain.

While I may not be a financial markets expert, I've dedicated considerable time to studying interest rates. The recent decision by the Federal Reserve to hold interest rates was somewhat expected, given the ongoing trend in the last several meetings. Surprisingly, the economy is proving more robust and resilient than initially anticipated.

The stock market reacted dramatically to this news, with speculation now circulating that interest rates might significantly decrease next year, disrupting the status quo. However, it's essential to understand that these are predictions and probabilities. Several members of the Federal Reserve Committee predict two or three rate decreases in the federal funds rate next year. This rate influences short-term interest rates like those for credit cards and car loans but doesn't directly impact the 30-year fixed rate.

Over the past few weeks, 30-year fixed rates have been consistently decreasing without the Fed lowering interest rates. This underscores that these mortgages are projections of future interest rates. If you're considering a 30-year mortgage, you'd only commit to it if you expect rates to remain stable or decrease.

"It’s important not to give in to the hype."

Amidst the internet hype suggesting an immediate rush into the market due to potential changes, it's crucial to maintain perspective. Multiple offers were not the norm before COVID, and even with current high interest rates, we are in a multiple-market environment due to low inventory.

The speculation that sellers might be more willing to move in the future if interest rates moderate down to the 5-6% range could be a reality around 2025 or 2026. However, it's essential to approach predictions with caution, as unforeseen factors can shape market dynamics.

If you're contemplating buying, selling, investing, or securing a loan, remember that we're here for you; just give us a call or shoot us an email. We wish you a fantastic holiday season!

Navigating Repair Negotiations in Real Estate Transactions

steve@homesbyelevate.com (Steve LaMothe) — Mon, 04 Dec 2023 19:03:54 GMT

Essential insights into repair negotiations for home buyers and sellers.

In the complex world of real estate transactions, repair negotiations often become a critical turning point. As a seasoned Realtor with 12 years of experience, I've navigated thousands of repair negotiations, which are frequently the main reason deals fall out of escrow. Understanding what repairs a seller is obligated to make, differentiating between necessary and optional repairs, and comprehending the implications of repair negotiations are vital in ensuring a smooth transaction.

Feel free to watch the full message above or use these timestamps that will direct you to various points in the video:

0:00 — Introduction

0:58 — The seller is not obligated to make repairs

1:15 — Lender required repairs

1:39 — Optional, deferred, and cosmetic repairs

2:01 — Repairs are negotiated

4:11 — Advice for sellers

4:33 — Advice for buyers

5:48 — Wrapping up

Remember, if you have questions about negotiating repairs as a buyer or seller, or if you have any questions about real estate in general, please feel free to reach out to us by phone or email. We would be delighted to serve as your resource for all of your real estate needs.

Maximize Your Savings: 3 Proven Strategies for Financial Growth

steve@homesbyelevate.com (Steve LaMothe) — Tue, 21 Nov 2023 16:29:09 GMT

Here are three strategies to help you increase your financial growth.

As we approach the end of the year, it's a perfect time to reflect on our financial goals and explore avenues to enhance our income. While our annual pie giveaway is just around the corner, today's discussion takes a slight detour from real estate to focus on increasing your rate of return. Join us as we delve into three strategies to maximize the potential of your savings and boost your monthly income.

Feel free to watch the full message above, or use these timestamps that will direct you to various points in the video.

0:00 — Introducing today’s topic

1:20 — High-yield savings account

3:00 — Treasuries

4:00 — Bonds

5:30 — Wrapping up

If you have any questions, don’t hesitate to call or email us. We’re always happy to help.

Stay Ahead of the Real Estate Curve: Winter Insights Revealed!

steve@homesbyelevate.com (Steve LaMothe) — Mon, 30 Oct 2023 15:55:00 GMT

Here’s why selling during the winter season is still a great time to sell.

A recent headline-grabbing Wall Street Journal article declared this to be the most challenging time ever to purchase a home. The reasons cited were soaring prices and a slew of daunting statistics. However, the real estate landscape is far from one-dimensional.

This year, we've witnessed a considerable decline in home sales, with a noticeable 40% to 50% reduction. Surprisingly, this downturn has helped maintain price stability, a testament to the fundamental principles of supply and demand in the real estate world.

As for whether winter is a favorable time to sell a home, the answer is rather simple: the ideal time to sell is when there are the fewest homes available for purchase. In the current year, we've observed a historic shortage of inventory, despite the challenge of high interest rates, and this hasn't hindered the swift sale of homes.

"There is still a steady stream of prospective buyers in the market."

As we move into the forthcoming months, traditionally marked by fewer listings (October through December), there remains a steady stream of prospective buyers in the market. This sets the stage for an advantageous opportunity for sellers, especially if their homes are well-maintained and competitively priced.

We provide a comprehensive concierge program to assist sellers in getting their homes market-ready, ensuring they are in prime condition. Naturally, pricing is always a crucial consideration, irrespective of the season. So, whether you're contemplating a winter sale or waiting for spring, the recommendation is clear: sell when the need arises, as predicting the market's timing can be a complex endeavor.

If you're eager to ascertain your home's value or schedule a pre-renovation consultation, visit our website or click here for an instant valuation. Furthermore, for those on the lookout for a new home, remember that the winter months can be a favorable time for a purchase. Feel free to call or email us anytime. We’re here to help.

Navigating the Storm: Understanding the 8.5% Interest Rate Surge

steve@homesbyelevate.com (Steve LaMothe) — Thu, 12 Oct 2023 14:33:07 GMT

Interest rates are at 8.5%. Here’s what’s causing this spike.

Today, we are going to discuss the current situation with 8.5% interest rates and what lies ahead.

As interest rates have risen this year, we've noticed a gradual decline in buyer demand. With the average mortgage payment in the Sacramento region currently around $4,000 a month, renting has become a more cost-effective option than buying, unless you have substantial savings for a down payment. With that said, a significant portion of today's buyers have already sold a home, giving them a substantial down payment to reduce their loan balances.

Currently, 30-year fixed mortgage rates are at a 25-year peak, and as we approach 2024, I see little to no change in this trend. It wouldn't be surprising to see interest rates reach as high as 9%. For those who've been following our discussions throughout the year, this trend may not come as a surprise: we've been anticipating prolonged higher rates. When we consider the 75-year average, the typical interest rate hovers around 8.5%.

"Owning a home is still an excellent choice compared to renting."

So, what's driving these high interest rates? The economy has proven stronger than anticipated by the Federal Reserve, which has led to an increase in borrowing rates. In the most recent Fed meeting, they decided to hold short-term interest rate costs rather than increase them. However, recent data indicates a robust job market, with almost twice as many jobs created as expected. This typically influences the Fed's decision. When the economy and job market are thriving, the Fed tends to raise interest rates in an attempt to slow and stabilize the economy. Their primary tool for achieving this is adjusting interest rates.

The Fed aims to maintain an unemployment rate between 4% and 6%, but it's currently below 3%. They also target an inflation rate of 2%, yet the Consumer Price Index (CPI) suggests that inflation, when adjusted, is closer to 4% to 6%.

What does this all mean for 2024? It wouldn't be surprising to see interest rates between 8% and 9% early in the year. If you're considering selling your home, it's advisable to list it at the beginning of the year, as there may be some economic challenges ahead. If you're a buyer, start saving for a down payment, as refinancing later may not be the best move.

Owning a home is still an excellent choice compared to renting. If you're in a position to afford homeownership, it's a wise investment. For more information, call or email us. Despite the challenges, let's remain focused on the future, and we'll thrive.

Do You Have a Trust? Why Trusts Are Essential for Property Owners

steve@homesbyelevate.com (Steve LaMothe) — Tue, 26 Sep 2023 15:15:27 GMT

Here’s what trusts are and why they matter for property owners.

Today, we're delving into a critical topic–the value and significance of trusts when it comes to owning real estate assets. I want to emphasize that I am not a trust attorney, so consulting with a legal professional is essential when setting up a trust. However, understanding what trusts are, their significance, and why they matter is vital.

So, what exactly is a trust? In simple terms, it involves transferring an asset, such as real estate, from individual ownership (yours, your spouse's, or family members') into a separate entity, somewhat like an LLC for businesses.

The importance of trusts becomes particularly evident when dealing with real estate assets. In California, we encounter something called probate, even if you have a will. If you lack a trust, your property and assets automatically enter probate, where the courts determine how to execute your will and distribute assets based on your wishes.

"Trusts make things much simpler for you and your loved ones."

However, if you have an up-to-date trust, your wishes are executed according to the trust's goals when you or a family member passes away. Your trust attorney will inquire about your preferences for your property, bank accounts, and more after your passing.

It's crucial to emphasize that even if your only asset is your home, as soon as you purchase your first property, consider investing the time and effort into placing that asset into a trust. The process is relatively straightforward. Having a trust for your primary residence or second home eliminates the need for probate.

In California, there have been instances where individuals had to wait for probate court rulings during the COVID pandemic, causing significant delays. For example, a person waited two and a half years to sell their mom's home because it wasn't in a trust. This delay incurred a 15% cost, not to mention the expenses of maintaining the property during this period.

As always, I strongly recommend consulting an attorney for your trust-related matters. If you're looking to sell your home, feel free to reach out to us at 916-436-SELL. Visit our website at www.homesbyelevate.com , and click here if you need a great trust attorney. We look forward to hearing from you.

Interest Rate Buydowns: Everything Homebuyers Need To Know

steve@homesbyelevate.com (Steve LaMothe) — Thu, 17 Aug 2023 16:30:54 GMT

Here’s what homebuyers need to know about interest rate buydowns.

Are you looking to buy a home? Maybe you want to purchase a property but are wary of higher interest rates. What can you do to ensure a cheaper mortgage while you figure out your future? In my opinion, interest rate buydowns are the perfect solution for those looking to reduce the cost of their mortgage for a few years. Today, I’m discussing how this loan product works and when you might want to use it.

You can listen to my full explanation in the video above or skip to each topic using the timestamps below:

0:00 — Introduction

0:44 — What is an interest rate buydown?

1:44 — How they work

2:47 — Your lender should offer advice

3:30 — When it doesn’t make sense

4:55 — Wrapping things up

If you have any questions about this topic or something else, please call or email my team. We’d love to hear from you!

Don't Make This Mistake When Selling Your Home: The Price Matters

steve@homesbyelevate.com (Steve LaMothe) — Thu, 27 Jul 2023 20:48:15 GMT

Uncover the secrets to pricing your home for a successful sale.

When it comes to selling your home, one of the most critical factors that can make or break the deal is the price. Many homeowners find themselves frustrated when their property sits on the market for too long without any offers. Today, we'll delve into the importance of pricing your home competitively to ensure a successful sale.

Imagine trying to sell a car priced significantly above the market value. Would buyers be willing to consider it, or would they pass it over for more reasonably priced options? The same applies to the real estate market. Setting the right price for your home is crucial to attracting potential buyers and generating interest.

One common mistake we see is homeowners setting their listing price way above the market value. The fear of underselling often leads them to add a substantial buffer, hoping to receive offers higher than the actual value. However, this strategy can backfire and discourage potential buyers from even considering the property.

"Many homeowners find themselves frustrated when their property sits on the market for too long."

To maximize your chances of a successful sale, it's best to price your home right at the market value. This approach attracts serious buyers and showcases your willingness to sell at a fair price. A well-priced property in good condition with effective marketing will always stand out and generate more interest from multiple buyers.

In addition to pricing, ensuring your home is in good condition is equally important. Buyers are attracted to well-maintained properties, and investing in minor repairs or upgrades can pay off in the long run.

When preparing to sell your home, don't underestimate the significance of pricing. Collaborate with experienced real estate agents who have an in-depth understanding of the local market. They will help you set the right price, stage your home for maximum appeal, and develop a robust marketing strategy.

If you're looking to sell your home, don't fall into the overpricing trap. Visit our website and get a free offer or home valuation in just a few seconds. We're here to guide you through the process and ensure your home is priced competitively for a successful sale. For those interested in buying a home in today's market, reach out to us at 916-436-SELL. Our expert team is ready to assist you every step of the way.

Discover the Top 3 Hot Spots for Californians To Move and Call Home

steve@homesbyelevate.com (Steve LaMothe) — Mon, 17 Jul 2023 15:35:49 GMT

The top three emerging hot spots that Californians are flocking to.

Are you curious about the next hot spots for Californians to move to? Today, I’m sharing my insights on the top three locations that are gaining popularity among Californians seeking a new place to call home. From Tennessee's vibrant cities like Knoxville and Memphis to the picturesque Branson, Missouri, and the scenic Star Valley in Idaho, I'm discussing the affordability and unique features of each destination.

Feel free to watch the full message above or use these timestamps that will direct you to various points in the video:

0:00 — Introduction

0:43 — Past favorites

1:11 — First on the list: Tennessee

2:30 — Number two: Branson, Missouri

3:33 — And finally: Idaho

4:30 — Wrapping up

As always, if you have any questions about today’s topic or real estate in general, please feel free to reach out by phone call or email. I would be delighted to help you.

The Myth of Timing the Real Estate Market: What You Need To Know

Mon, 05 Jun 2023 18:49:19 GMT

Curious about the current state of the market?

Today, we’re going to explore where the market is at as we leave the spring selling season and discuss the idea of timing the market. In today’s chaotic market landscape, it may be tempting to try and get the most bang for your buck by waiting until prices look better for you. This could be disastrous, however, and there are two good reasons why.

Feel free to watch the full message above or use these timestamps that will direct you to various points in the video:

0:00 — Introduction

0:33 — Homes for sale and sold

1:23 — Timing the market

1:45 — Nobody has a crystal ball

2:54 — What is your motivation for buying or selling?

3:51 — Buying a home is always more expensive than anticipated

5:14 — Wrapping up

Remember, if you have any questions about the state of the market, timing the market, or real estate in general, please don’t hesitate to reach out to us by phone or email. We would be happy to help you with all of your real estate goals.

3 reasons why home values are STABILIZING

steve@homesbyelevate.com (Steve LaMothe) — Thu, 11 May 2023 16:36:06 GMT

These three real estate factors are keeping home values stable.

We’ve seen some incredible activity in the Sacramento real estate market this year. Today, we’re going over the top three indicators that will most likely determine where the market will be at the end of 2023, and sharing our real estate predictions.

Feel free to watch the full explanation or use these timestamps to browse specific topics at your leisure:

0:00 — Introduction

0:44 — The number of homes for sale

2:10 — Buyer demand and pending sales

2:51 — Interest rates

4:17 — Our predictions

4:50 — Reach out if you have plans to buy or sell

Overall, these factors suggest that home values are not declining, but rather stabilizing.

As always, if you have any questions or concerns about the market or your real estate plans, call or email us. We look forward to hearing from you.

Understanding the Different Fees You'll Encounter When Buying a Home

steve@homesbyelevate.com (Steve LaMothe) — Thu, 27 Apr 2023 18:21:15 GMT

These are the fees that you need to be aware of as a homebuyer.

What are the fees associated with buying a home, and are they about to go up? There are a lot of different costs that you can encounter when purchasing a house, and recent changes by Fannie Mae and Freddie Mac are going to have a substantial impact on what you’ll pay by the time you move in. We’ll discuss that, as well as mortgage programs, loan fees, and real estate fees.

Feel free to watch the full message above or use these timestamps that will direct you to various points in the video:

0:00 — Fees when buying a home

1:26 — Down payment programs

2:26 — Loan costs

3:34 — Real estate costs

4:48 — Wrapping up

Remember, if you have any questions about the fees associated with buying a home or real estate in general, please feel free to contact us by phone or email. We would be happy to serve as your resource for all of your real estate needs.

A concierge remodel success story

steve@homesbyelevate.com (Steve LaMothe) — Thu, 13 Apr 2023 16:21:06 GMT

Elevate Concierge- Our renovate now Pay later program. Success Story

Our clients were wanting to make a move from Antelope to Utah and they were not quite sure how they would pull this whole process off given they were older in age, their home needed some repairs and improvements and they also had all of their money tied up in the property itself. We wanted to share just one story around how important it is to consult Elevate BEFORE doing anything else!

Selling a home can be a daunting task, especially if the property is not in the best condition. However, with the right strategy and preparation, you can improve the marketability of your home and increase your chances of selling it at a higher price. In this blog post, we will provide a detailed account of how Elevate Realty Group planned and executed the renovation of a home in Antelope, CA, to make it more attractive to potential buyers. Here is a step by step guide on how we completed this process with our Renovate Now pay later program Elevate Concierge

Planning the Strategy of Elevate Concierge

The first step in improving the marketability of a home is to create a comprehensive plan. Elevate Realty Group scheduled an initial meeting with the homeowners to discuss their goals and budget for the renovation. During this meeting, the team assessed the current condition of the home, identified potential areas of improvement, and determined a timeline for completion. The team also researched the local market trends and identified the features that are in demand among buyers.

Preparing the Vendors

After creating the renovation plan, Elevate Realty Group started preparing the vendors. The team sourced contractors, painters, and other professionals required to complete the repairs and upgrades. The team ensured that the vendors were licensed, insured, and experienced in their respective fields. The team also negotiated the best prices for the services required. One of the great assets we have is our vendors complete hundreds of projects for us so we have HUGE savings. Not only that they are highly accountable to us as we are their largest customers! This is immense value for our clients.

Completing Repairs and Upgrades

Once the vendors were prepared, Elevate Realty Group started the repairs and upgrades. The team focused on the areas that needed the most attention, such as the kitchen, bathrooms, and flooring. The team also made minor cosmetic upgrades, such as repainting the walls and replacing light fixtures. Throughout the process, the team communicated with the vendors and the homeowners to ensure that the work was being completed on time and within budget. The best part about this project is we completed all renovations for this property in just 2 weeks! A total of 38,000 was spent and the home was listed 2.5 weeks after starting.

Staging the Home

After completing the repairs and upgrades, Elevate Realty Group staged the home to make it more attractive to potential buyers. The team removed clutter, rearranged furniture, and added decorative items to create a welcoming atmosphere. The team also ensured that the home was clean and presentable for open houses and private showings. As a customer of Elevate Concierge it is our standard practice to include all of this service at no cost. The traditional agent charges the SAME FEE with literally none of this additional value.

Successful Story and sale

After the incredible work of our vendors and our amazing team at Elevate was sold for over the asking price of $515,000. We had a total of 3 offer son this home and we will successfully sell at 525,000, this is during a time when only 20% of the homes are receiving multiple offers. The renovation increased the marketability of the home, and the staged presentation created a warm and inviting atmosphere that appealed to potential buyers. The homeowners were thrilled with the result and grateful for the expert guidance and support provided by Elevate Realty Group throughout the process.

In conclusion, improving the marketability of a home requires careful planning, preparation, and execution. By following the steps outlined in this blog post, you can increase your chances of selling your home at a higher price and with less stress. We are committed to changing the entire real estate experience at Elevate Realty group with our unique programs. We believe that EVERY seller can benefit from our Renovation program and if you are paying an agent a fee you should 100% receive the value of our program as it costs no additional money.

If you're thinking about selling your home, consider working with a professional real estate team like Elevate Realty Group to guide you through the process and help you achieve your goals.

Steve LaMothe

The Urgent Market Update You Need To See

steve@homesbyelevate.com (Steve LaMothe) — Fri, 07 Apr 2023 19:32:20 GMT

Inventory is very low, causing prices to stabilize.

We have some really interesting things going on in the marketplace. I know there's a lot of bad news about bank failures. There have been five or six total bank failures. Honestly, I don't think this will be the end of negative economic news throughout the rest of this year. The problems that those banks and many regional and large banks have are from low interest rates over a ten-year period, but that's not what we're talking about today. Today we're going over a quick Sacramento market update, and the number one driving factor of the current environment is inventory—the number of homes for sale.

The number of homes for sale is down almost 50% compared to last year. In the first quarter, we have around 50% fewer homes available than last year, when we had historically low inventory levels. What's driving this low inventory is that all of these owners are stuck with 2% to 3% interest rates and do not want to move. It's becoming financially impossible to buy another home. Even if you really want another house, you're going to have to downsize substantially or move to an area that's not as good as the home you're currently in, and your payments will be higher. Many of these owners have decided it's better to stay in their homes, and they will renovate, add on, or just not sell.

"I don't think this will be the end of negative economic news."

Inventory is down 50%, and the buyer pool hasn't necessarily gotten any bigger. There are simply fewer homes available. The good houses that come up for sale, I would say about 40% to 50%, we're seeing more than one buyer make an offer, and that's pretty incredible, given we've had six banks fail in the last two or three weeks. We're in this nice little sweet spot in the Sacramento market where home values have started to stabilize. I would not say that those home values are going up. We've just stabilized from the 1% to 2% reduction in value each month that we saw last year.

If you need to sell a house this year, if you're planning on exiting and going to another state and are thinking about doing that in the next couple of years, I would expedite your timeline and do it today. I listed a property last week, and we have 15 offers on it as of today. Another program is also creating a lot of first-time homebuyer demand. Several months ago, we said this would be the year of the first-time homebuyer, and that is panning out. It's called the Dream for All program. It's giving buyers 20% as a down payment loan with zero interest to buy their first home. This has created a surge in buyer demand over the last month or so.

If you are considering entering the market, now is the time. If you have any questions about the state of the market or real estate in general, please feel free to reach out to me by phone or email. I would be happy to help you.

Buy Your Dream Home With This Down Payment Assistance

steve@homesbyelevate.com (Steve LaMothe) — Tue, 21 Mar 2023 15:48:48 GMT

The Dream Builder Equity Program can be your ticket to homeownership.

We have amazing news! If you’ve been finding it incredibly difficult to save up enough money to buy your first home, there’s a down payment assistance grant that can help you.

The Dream Builder Equity Program is a government initiative that offers a 20% down payment for homebuyers, making it easier to purchase your dream house. The federal state and local governments are all trying to combat the issue of housing affordability, and this has been an incredible program for this purpose.

This is a fantastic assistance grant for the middle class, as homeownership is a quintessential way to enter the middle class by providing a net worth increase through asset appreciation. I am not a lender and cannot discuss the qualifications for the program, but you might be surprised by the income requirements. For instance, a joint income of up to $150,000 can still qualify for down payment assistance.

"This is a fantastic assistance grant for the middle class."

One of its unique aspect is that it offers a 20% down payment rather than the usual 3.5% or 5% to cover an FHA loan. This helps lower monthly payments and reduce interest rates that tend to be higher with down payment assistance loan programs.

Partnering with an expert lender like Keith Collins is important when working with The Dream Builder Equity Program. Interested buyers can reach out to us to learn more about it and its requirements. Give us a call or send an email. We would love to help you buy your dream home.

This Method Will Help You Save Big Money Long-Term

steve@homesbyelevate.com (Steve LaMothe) — Mon, 06 Mar 2023 20:45:42 GMT

If you have the ability, a principal reduction recast can help you save.

Have you ever heard of a principal reduction recast? Today, I’m here with some important information on this topic, as it is something you need to hear about. It may sound complex and confusing at first, but it’s nothing to worry about.

In short, a mortgage recast is when someone makes a lump sum payment on their current mortgage which allows them to change their monthly payment by reducing the principal that they owe. This can work very well in certain scenarios.

If you own a home with a 3% interest rate, for example, and have enough money saved up, you can lower your monthly payment. Start by contacting your lender, as many let people do this for a small fee. This mortgage recast will re-amortize your loan with the new principal amount. This is great for people who don’t want to move and came into some extra cash somehow.

"A mortgage recast allows you to change your monthly mortgage payment by reducing your principal."

This also works well for people who want to buy another house before selling their current one. Maybe you have some money saved up but can’t afford a second mortgage payment. Many people will take the equity from their old home and put that toward getting a new one. Then they’ll refinance and pay those fees, which can be expensive. Therefore, a principal reduction recast may be the way to go. It may take some time, but then your payment will be lower and you can afford more of a down payment for the next home.

If saving money this way is something that interests you, I would recommend that you contact your lender. They are the experts that can tell you about your specific situation. If you have any other questions about this or real estate in general, please feel free to reach out to me by phone call or email. I would be happy to serve as your real estate resource.

How to maximize home value when you go to sell for top dollar

steve@homesbyelevate.com (Steve LaMothe) — Sat, 25 Feb 2023 18:14:28 GMT

How to maximize your homes value when selling.

Selling your home can be an exciting but daunting task. You want to get the most out of your investment and sell your property quickly. The key to achieving both of these goals is to maximize your home's value. One way to do this is by completing necessary repairs before putting your home on the market. In this article, we'll cover the best repairs to complete to maximize home value to sell. We'll also provide links to helpful resources to guide you through the process.

6 areas to upgrade when selling.

Focus on the Exterior
Upgrade the Kitchen
Modernize the Bathrooms
Improve Energy Efficiency
Repair or Replace Flooring
Paint and Refresh

Focus on the Exterior

Curb Appeal Matters
Make Necessary Repairs
Clean or Replace Siding and Roofing
Update Landscaping

Upgrade the Kitchen

Update Countertops and Cabinets
Replace Appliances
Add a Backsplash
Upgrade Lighting Fixtures

Modernize the Bathrooms

Replace Outdated Fixtures
Install New Tile
Upgrade Lighting
Add Storage

Improve Energy Efficiency

Add Insulation
Upgrade Windows and Doors
Install a Programmable Thermostat
Seal Air Leaks

Repair or Replace Flooring

Fix or Replace Damaged Flooring
Refinish Hardwood Floors
Install New Carpet or Tile
Consider Eco-Friendly Options

Paint and Refresh

Apply a Fresh Coat of Paint
Refresh Trim and Molding
Update Hardware and Fixtures
Clean or Replace Window Treatments

The key areas to focus on when renovating.

Focus on the exterior by improving curb appeal and making necessary repairs
Upgrade the kitchen by updating countertops, cabinets, appliances, backsplash, and lighting fixtures
Modernize the bathrooms by replacing outdated fixtures, adding new tile, upgrading lighting, and adding storage
Improve energy efficiency by adding insulation, upgrading windows and doors, installing a programmable thermostat, and sealing air leaks
Repair or replace flooring by fixing or replacing damaged flooring, refinishing hardwood floors, installing new carpet or tile, or considering eco-friendly options
Paint and refresh by applying a fresh coat of paint, refreshing trim and molding, updating hardware and fixtures, and cleaning or replacing window treatments

FAQs:

Q: How much does it cost to complete these repairs?

A: The cost of these repairs can vary depending on the size of your home and the extent of the repairs needed. However, completing these repairs can increase your home's value and potentially lead to a higher sale price.

Q: Should I complete all of these repairs before putting my home on the market?

A: It's not necessary to complete all of these repairs, but focusing on necessary repairs and upgrades can increase your home's value and make it more attractive to potential buyers.

Q: Can I complete these repairs myself?

A: Some repairs can be completed by homeowners with DIY skills, while others may require professional help. It's important to evaluate your skills and resources before attempting any repairs.

Conclusion:

Maximizing your home's value before putting it on the market is crucial for a successful sale. Completing necessary repairs and upgrades can make your home more attractive to potential buyers and potentially lead to a higher sale price. Elevate realty groups CONCIERGE program can allow you to renovate up front and pay at closing. This program is revolutionizing how people prepare their homes for sale and we will handle the design, planning and execution of the entire process! It is literally that simple with elevate realty group.

The ultimate guide to buying a home in 2023

steve@homesbyelevate.com (Steve LaMothe) — Fri, 24 Feb 2023 18:39:32 GMT

New Title

The Ultimate Guide to Buying a House in Folsom

Introduction:

Buying a house is a significant decision that requires careful planning and consideration. Whether you are a first-time homebuyer or an experienced investor, this guide will provide you with all the information you need to make an informed decision when buying a house in Folsom.

Section 1: Understanding the Local Real Estate Market in Folsom

Before you start your house hunt, it's essential to have a solid understanding of the local real estate market in Folsom. In this section, we will provide you with an overview of the current state of the housing market, including median home prices, inventory levels, and market trends in Folsom.

Understanding the Real Estate Market in Folsom

This article will provide you with detailed insights into the local real estate market in Folsom, including the types of housing available, the average price range, and the demand and supply of homes in the area. Additionally, the article will cover factors that influence the housing market in Folsom, such as population growth, job market, and infrastructure.

Section 2: Choosing the Right Neighborhood in Folsom

The location of your new home is just as important as the home itself. In this section, we will discuss how to choose the right neighborhood based on your lifestyle, budget, and personal preferences. We will cover topics such as school districts, crime rates, and proximity to amenities in Folsom.

Top Neighborhoods in Folsom to Consider

This article will provide you with a detailed overview of the top neighborhoods to consider when buying a home in Folsom. It will provide information on the location of each neighborhood, the housing options available, and the amenities in the area, including parks, shopping centers, and restaurants.

Section 3: Financing Your Home Purchase in Folsom

Unless you are paying cash for your new home, you will need to secure financing. In this section, we will explain the different types of mortgages available in Folsom, as well as the pros and cons of each. We will also provide you with tips on how to improve your credit score and get the best possible interest rate on your loan.

Detailed Article: How to Secure a Mortgage in Folsom

This article will provide you with a detailed overview of the different types of mortgages available in Folsom, including conventional loans, FHA loans, and VA loans. It will also cover the steps involved in securing a mortgage, such as pre-approval, underwriting, and closing, as well as tips on how to improve your credit score and get the best possible interest rate on your loan.

Section 4: House Hunting Tips and Tricks in Folsom

Now that you have a solid understanding of the local real estate market, the right neighborhood, and financing options, it's time to start your house hunt in Folsom. In this section, we will provide you with tips and tricks to help you find your dream home. We will cover topics such as working with a real estate agent, attending open houses, and making an offer.

Detailed Article: Tips for House Hunting in Folsom

This article will provide you with a detailed guide on how to effectively search for your dream home in Folsom. It will cover topics such as working with a real estate agent, researching the housing market, attending open houses, and making an offer. Additionally, the article will provide tips on how to negotiate the purchase price and navigate the inspection process.

Section 5: Closing the Deal in Folsom

Congratulations, you have found your dream home in Folsom!

Navigating Buying and Selling at the Same Time

steve@homesbyelevate.com (Steve LaMothe) — Tue, 21 Feb 2023 17:26:28 GMT

The four options can help you buy and sell at the same time.

Here’s the age-old problem: How do you handle trying to buy and sell at the same time? This is a very tricky situation, and there is no black-and-white answer. There are four options you can consider, just know that each one has varying degrees of success. Which one you choose depends on you and your specific situation.

Hear about all four options in the video above or skip to specific topics using these timestamps:

0:00 — Introduction

0:52 — Method #1: Write a contingent offer

1:43 — Method #2: Find a buyer for your home first

2:44 — Method #3: Figure out other ways to afford a down payment

3:43 — Method #4: Our trade-in program

5:20 — Wrapping up

We would love to help you through this tricky journey. If you’d like to schedule a trade-in program consultation, we can tell you exactly how much you can afford for your next home. If you have any questions or want help buying or selling, visit our website or call us at (916) 862-5463. We look forward to hearing from you!

Why You Can't Truly Time the Housing Market

steve@homesbyelevate.com (Steve LaMothe) — Thu, 09 Feb 2023 17:18:30 GMT

Two reasons why trying to time the housing market doesn’t work.

“When is the best time to buy or sell real estate?” We receive this question all the time, and we understand why. After all, everyone wants to get the best deal possible. However, most experts will tell you that trying to time the market is a fool’s errand, and there are two main reasons why.

First, real estate is volatile in the short term but very safe in the long term. Take this most recent market shift, for example. People who bought their homes in March 2022 didn’t know interest rates were about to shoot up and make houses less affordable. They just needed to move and made that decision. For many of those buyers, their homes may have lost value since they purchased them; however, this doesn’t matter in the long run. Real estate always appreciates over time, so as long as you plan on staying in your home for five or more years, you have nothing to worry about.

"Even waiting two or three years can have a major impact on your equity down the line."

Second, since real estate always appreciates over time, you’ll start gaining equity sooner if you buy now instead of later. Delaying your purchase because you want market conditions to change doesn’t make sense financially. Even waiting two or three years can have a major impact on your equity down the line. The truth is that your primary residence is not a speculative asset—it’s a home, and your long-term investment.

If you have questions about this topic or anything else, please call or email us. We are always willing to help!

Buying a home in 2023? Steve LaMothe details key points to make an educated decision.

steve@homesbyelevate.com (Steve LaMothe) — Wed, 08 Feb 2023 15:50:37 GMT

This is a subtitle for your new post

Why Buying a Home in 2023 May Be the Right Choice Despite High Interest Rates

Home ownership has long been a dream for many Americans. In 2023, despite high interest rates, there may still be good opportunities for those looking to buy a home. In this article, we'll explore some of the reasons why buying a home in 2023 may be the right choice for you, as well as some tips for making the process as smooth as possible. Steve LaMothe discusses tips to buying your home in Sacramento, Folsom or the Bay area

The Housing Market in 2023

One of the biggest factors to consider when deciding whether to buy a home in 2023 is the state of the housing market. Despite high interest rates, many experts believe that the housing market will remain strong in 2023. This is due in part to continued economic growth and a low unemployment rate, which are both factors that tend to support a strong housing market. According to the National Association of Realtors , the housing market is expected to remain strong in 2023, with low inventory levels continuing to drive up home prices.

Another factor to consider is the demand for housing. With the population growing and more people looking to purchase homes, the demand for housing is likely to remain high. This, in turn, can help to support home prices and make it a good time to buy a home. Zillow reports that the demand for housing is expected to remain strong in 2023, with the number of people looking to buy homes outpacing the number of homes available for sale.

Benefits of Home Ownership

There are many benefits to home ownership that can make it a wise choice, even with high interest rates. For one, owning a home can provide a sense of stability and security that can be difficult to find in the rental market. Additionally, home ownership can be a good investment, as homes tend to appreciate over time. According to a study by the Joint Center for Housing Studies at Harvard University , homeowners can expect to see a significant return on their investment over the long-term, with homes appreciating in value by an average of 4% to 5% per year.

Another advantage of home ownership is that you have the ability to customize your living space to suit your needs and preferences. This can be especially important if you have a growing family or if you're looking for more space for hobbies or other interests. Bank of America notes that one of the biggest benefits of home ownership is the ability to make changes to your living space to suit your needs and preferences, which can help to make your home feel like a true reflection of your personal style.

Tips for Buying a Home in 2023

If you're considering buying a home in 2023, there are a few tips that can help make the process as smooth as possible. One of the most important is to work with a knowledgeable real estate agent. An experienced agent can help you find the right home, negotiate the best price, and guide you through the entire home buying process. Redfin recommends working with a real estate agent who is knowledgeable about your local housing market, has experience working with home buyers,

The final thoughts

Its important to understand your motivations when buying a home. Home ownership is the pathway to the middle class in my opinion and you need to have a LONG TERM mindset. Ownership vs renting has many key advantages and one of the major factors that effect your entire life is simply the pride that comes along with owning your own home and what that means for your family, generationally. Each time you make a payment you are actually paying yourself back a little bit of principle each month. That means every month your net worth is actually increasing!

Whether your buying your first home or your 6th investment property it is so important to work with a true expert and the agents at Elevate Realty Group are 100% here to help!

-Steve LaMothe Founder of Elevate Realty Group

Real Estate Investment: A comprehensive guide

steve@homesbyelevate.com (Steve LaMothe) — Sat, 04 Feb 2023 17:49:41 GMT

Understanding the real estate market in Sacramento to invest in real estate.

Are you looking to invest in real estate, but not sure where to start? Look no further. This comprehensive guide covers all aspects of real estate investment, from understanding the market to finding the right property, and provides links for further information on each topic.

Understanding the Real Estate Market

Before investing in real estate, it is important to have a good understanding of the market. The first step is to research the current real estate trends and projections for the future. This includes considering factors such as population growth, economic indicators, and interest rates. It is also important to look at the local real estate market, including property values, rental rates, and demand for housing in the area. Identify your target "buy box" and stick with this buy box as you confirm and make sure that the home you want to buy is within your specific investment criteria. For more information on understanding the real estate market, check out these resources:

Finding the Right Property

Once you have a good understanding of the real estate market, it is time to start looking for the right property. Consider factors such as location, property type, and potential for rental income. You may also want to consider working with a real estate agent or a property management company to help you find the best investment property. Other things to consider are spending a lot of time in these areas at different times of the day. Does the neighborhood fill up with cars on the street after 5pm? Is there a fed ex or UPS jet that flies over in the evening every day, these are important to consider when buying a home. For more information on finding the right property, check out these resources:

Evaluating the Property

Before making an offer on a property, it is important to thoroughly evaluate it. This includes conducting a thorough inspection of the property, researching the property's history, and reviewing any necessary permits and regulations. You may also want to consider hiring a professional to help you with this process, such as a real estate appraiser or a home inspector. For more information on evaluating a property, check out these resources:

Financing Your Investment

There are several financing options available for real estate investment, including traditional mortgages, home equity loans, and investment property loans. It is important to consider your financial situation, including your income and expenses, when choosing the best financing option for your investment. You may also want to consider working with a financial advisor to help you make the best decision. For more information on financing your real estate investment, check out these resources:

Mortgage Loans by the Consumer Financial Protection Bureau
[Home Equity Loans by Bankrate

Keep in mind when obtaining financing for investment properties you may need to bring in more money down or have issues finding better rates than traditional financing. This is important to shop thoroughly for rates.

How Valuable Are Reverse Mortgages?

sharpnetanalyticsone@gmail.com (Sharpnet Solutions) — Thu, 26 Jan 2023 20:08:13 GMT

Reverse mortgages are a great but complicated tool. Here’s how they work.

If you’ve ever looked into loan products, no doubt you’ve come across the term “reverse mortgage.” However, what exactly is this product, who benefits from it, and what are the risks and costs associated with it? Today, I’m diving into the concept of a reverse mortgage and answering these questions.

Feel free to watch the full message above, or use these timestamps that will direct you to various points in the video:

0:00 — Introduction

0:58 — What is a reverse mortgage?

1:58 — Who benefits from a reverse mortgage?

2:40 — What are the risks, costs, and benefits?

3:54 — Reverse mortgages key points

5:20 — Wrapping up

If you have any other questions about this great product, please feel free to reach out to us. We’d be happy to help you with this, and any other real estate needs you may have. Call or email us anytime.

My Predictions for the 2023 Market

steve@homesbyelevate.com (Steve LaMothe) — Wed, 04 Jan 2023 22:16:39 GMT

My educated predictions for inventory and more in the 2023 market.

I hope you had a great holiday season, a fabulous Christmas, and a happy New Year! As we move on to our first blog of 2023, today we're going to cover the hot topic of what the real estate market is going to do throughout the coming year. If you do some research on this, predictions can be all over the place. However, I’m here to tell you my educated and experienced opinion as one of the top agents in Sacramento and all of California.

In 2022, the number of homes sold went down by over 40%, meaning there were 40% fewer buyers than in 2021. I believe that rising interest rates and reluctant sellers created a year of inaction. On top of that, there were crazy amounts of demand after the pandemic lockdown status started to be lifted.

"2023 is going to be the year of equalization."

What does all of this mean for 2023? I believe some of these slowdowns will continue. Many homeowners have extremely low interest rates, some as low as 2.5%, so they won’t want to sell if they have to buy at 7%. This will mean there will be a reduced number of homes for sale. Also, sellers will have to be very highly motivated.

Overall, I believe the real estate market will be slower and that it’ll stabilize instead of jumping in inventory like it did in 2008. 2023 is going to be the year of equalization. We may see another slight reduction in home values to accommodate higher rates, and the Fed should adjust rates throughout the year.

These are my predictions for the coming year. If you have any questions or concerns, don’t hesitate to reach out! You can call or email me anytime; I would love to help.

These 3 Tips Will Help You Sell This Spring

steve@homesbyelevate.com (Steve LaMothe) — Mon, 12 Dec 2022 20:18:06 GMT

Follow these three tips to sell your home successfully during spring.

How do you get your home ready for the spring market? Today I wanted to talk about the three key things when it comes to selling your home in spring and some of the options that you have as you get ready:

1. Start early. One of the biggest mistakes most sellers make is they don't plan or prepare soon enough. They have to go through the decluttering process, and the sooner you can do that, the better. Also, if we think you'll walk away with more money by using our concierge or renovation program, we can start planning right now. If you wait until a month from when you want to move, it's already too late.

2. Have plenty of time to maximize the sale price. It takes 90 to 100 days to sell and make a move now. If you want to move in the summertime, you’ll need to start preparing in December. It will probably take a month and a half to sell the home, then another month and a half to close. A good rule of thumb is that it takes 120 days from preparing to moving.

3. Be clear on your goals. The first question that we ask when someone is buying or selling a home is: why do you want to move? Your goal is our goal. Get crystal clear on why and when you want to move, because that helps us plan and work backward to create your listing plan.

"It takes 90 to 100 days to sell and make a move now."

These are the three key points you have to remember when selling during spring. As always, we have a great new program that can give you a cash offer without ever visiting the home. This gives you a baseline of the exact cash offer that you want. Just call or email me with any questions. We’re always happy to help!

Sacramento Real Estate Market Update

steve@homesbyelevate.com (Steve LaMothe) — Thu, 17 Nov 2022 22:35:22 GMT

Gains remain strong in the Sacramento market, despite falling values.

As we enter the holiday season, the question on everybody’s mind is, “Are home values going down?” We’ve got all of the latest data for you to help answer that question.

As we’ve predicted, we’ve seen prices level off and come down to accommodate higher payments. From October 2021 to October 2022, we’ve seen the average median price in Sacramento come down by 40%. That means that home values which were up $100,000 year over year, are now only up by $50,000, significantly reducing the pandemic gains. This is entirely due to the higher cost of a 30-year fixed mortgage, but it is not a dramatic crash of the real estate market.

Low interest rates and payments drove a spike in demand that shot home prices up, but since we saw 35% gains and gave 10% to 15% of that back, we are still in a very good equity position. It would be like going to a casino with $1,500 and leaving with $2,500, even though you were up at one point by $5,000. You’re still ahead of the game, but you could have walked away with more if you had been disciplined.

"Homes always appreciate long term."

The key takeaway here is that if you are a homeowner looking to sell in the next 24 months, now is the time to do it. It would be wise to sell within the next 90 days because I predict we will see 7% to 9% rates by the end of the year, and 10% rates by January, which will further suppress home prices.

This is also the best time to look at buying, for much the same reason: We are going to see higher rates in the coming year. Ownership remains a better option than renting , and even if we see a dip in values, we can still expect appreciation in the long term, and interest rates won’t remain at 10% forever.

So if you are considering either buying or selling a home, now is the time to reach out to us and get a consultation. We are available by phone or email; you can even get a free price estimate on our website. We’d be happy to help you.

Explaining What a Rate Buydown Is

steve@homesbyelevate.com (Steve LaMothe) — Mon, 31 Oct 2022 19:36:25 GMT

Take advantage of a rate buydown and reduce your monthly payments.

Today I’m here to talk about how you should be utilizing creative tools like rate buydowns to get lower interest rates. I’ll go over how rate buydowns can work for both buyers and sellers to help deals come together in a win-win situation.

Feel free to watch the full message above or use these timestamps that will direct you to various points in the video.

0:00 — Introduction

1:03 — What is a rate buydown?

1:50 — A buydown is more powerful than asking for a lower price

2:45 — For sellers, a buydown credit is better than a higher price

3:10 — A formula for buydowns

3:45 — A 2-1 buydown plan

4:35 — Wrapping up

If you have any questions, don’t hesitate to reach out to me by phone or email. I look forward to hearing from you.

Retaining Wealth Through Property Value

steve@homesbyelevate.com (Steve LaMothe) — Tue, 27 Sep 2022 21:40:30 GMT

Whether it’s $100 or $1,000 a year, that’s money in the bank for your future.

Understanding your property’s value is crucial to retaining wealth.

Today we’re continuing the wealth-building conversation we’ve had in the last couple of videos by discussing how to retain that wealth As the market changed and evolved over the last six months or so, and as we look into the future, home values will likely slide as we adjust for higher interest rates.

While I don’t think home values will crater as our market shifts—let’s say that they went up 40%—it wouldn’t be unlikely to see them come back down 10% to 15%. If that happens, it’s important for people who bought houses in the last two or three years to know about reassessment.

As home values go up, property taxes adjust upward as well, and they are reassessed every year. You can call the assessor’s office and have them re-evaluate your property to lower your taxes. However, if you own an ultra-luxury home, chances are they’ll require an appraisal for this to happen.

Property tax is a huge component of your yearly cost of homeownership. Since we’re talking about retaining your wealth, you should explore what your property’s value is—look at your tax bill in the latter half of the year because that value factors in how things are assessed annually. If you bought a house in the last five years, we recommend calling the assessor’s office to see if those costs can be lowered.

We are more than happy to give you a market value. It’s called a broker pricing option for the current market value of your home. If it’s less than what they’re assessing, you should be able to save money. Whether it’s $100 or $1,000 a year, that’s money in the bank for your future.

One of our most viewed videos discusses Prop. 19 and the top tax savings it creates. This allows you to keep your property tax basis. Say you’ve owned a home for 30 years and your taxes are $2,000 per year. If you sold that home and bought a new one at today’s values, your property taxes could potentially go up 200%. Prop. 19 allows you to move from county to county and retain your property tax savings from the previous house. It’s a simple process you should take advantage of.

Don’t forget to check your assessment when your property taxes arrive in your mailbox. Call the assessor’s office to reassess; it could save you money. If you need any help understanding this topic or have any other real estate questions, reach out to Elevate Realty Group at (916) 436-SELL. Visit homesbyelevate.com for property values or give us a call. We look forward to hearing from you.

Armstrong & Getty interview Steve LaMothe with Elevate. 2022 Market update with A & G.

steve@homesbyelevate.com (Steve LaMothe) — Sat, 03 Sep 2022 16:46:46 GMT

Armstrong and Getty with the A & G show interview Steve LaMothe about the Sacramento market.

Jack And Joe with Armstrong & Getty interview Steve Lamothe with Elevate about the shifting market.

There has been a lot of "doom and gloom" in the news these days especially around housing and home values going down. Steve lamothe speaks with armstrong and getty to detail out what is really going on in the sacramento market.

The key takeaways from this meeting are below.

#1- Sellers have lost leverage and the market has changed.

#2- Even though them market has changed it is by no means a BAD market. We are "balancing" back to where the market was before covid.

#3- Interest rates are still historically low.

#4- Avoid "click bait" with news. Dig deeper, consult elevate before making decisions around real estate.

#5- Condition of homes is more important than ever. Since there are more options for buyers we want to prepare the home to the best condition possible to compete.

If you are considering a move it is wise to start early and create a plan. We offer free no pressure consultations at any stage of your decision making process.

Why You Should Invest in Real Estate

steve@homesbyelevate.com (Steve LaMothe) — Fri, 02 Sep 2022 18:08:06 GMT

Why buying a home is one of the best investments you can make.

There has been a lot of doom and gloom about our market in the news. Don’t believe those headlines! We are still in a solid market compared to what it was before the pandemic. That’s why we want to talk about something more positive—how you can build wealth through real estate. We’re passionate about educating people on the value of homeownership here at the Elevate Group. It truly is a fantastic way to grow your money.

The first thing you should know is that the speed at which you start investing makes a massive difference. Homeownership works the same way that compound interest does in your 401k. The faster you get into a home and start building equity, the more wealth you’ll create over time. This applies to your investment properties too.

Real estate is one of the best asset classes of all time, and the reason why is the 30-year mortgage. This loan allows you to leverage other people’s money, secure a low interest rate long term, and lock in your housing costs. Even if your home costs more than renting, it works as a sort of forced savings. Every monthly payment builds equity. Why throw your money away on rent if you can build equity over time?

There are three key ways owning real estate can add to your wealth:

Forced savings. Every time you make a payment, you get money back and build equity. You have to pay a lot of interest to get that, but it is still worth it.

2. Equity appreciation. Housing is not speculative; you don’t have to gamble. On top of that, your home is not only an investment—it’s also where you live. It’s your entry into the middle class.

3. Tax benefits. You can deduct your interest, which adds more forced savings over the long term.

"Real estate is one of the best ways to build wealth."

We can get even more complex and talk about real estate investing, which is something we’re even more passionate about. However, you’ll initially have to buy your first home, no matter what.

One thing we recommend is to try to buy a rental property when you have your first child. If you do this, you can use the equity you’ll build to finance your kid's college. When you refinance, you don’t pay any tax, which makes it a great way to pull money out of properties.

Let us share a crazy stat with you: If you have invested money equal to a down payment in the stock market over the last 10 decades and saw a 10% return, you’d have around $126,000. If you bought a home, you would have around $210,000 in equity. That’s almost double what you would have had in the stock market, and most people don’t see a 10% return from their portfolios.

Our message to you is to go out and start building wealth through real estate. If you have any questions, feel free to call or email us. We’d love to help.

The Truth About the Fed Rate Increases

steve@homesbyelevate.com (Steve LaMothe) — Thu, 11 Aug 2022 17:31:17 GMT

What the Fed prime increases mean for the real estate market.

Last week, the Federal Reserve raised the prime interest rate, and every time that happens, I receive a flood of calls from concerned clients. Today I want to clarify what this means for the real estate market.

The Fed’s prime funds rate affects short-term interest rates, which impact loans, student loans, and credit card interest. It’s the rate at which the Fed charges banks to loan money. For example, if the Fed charges 2.5% interest, the bank will put a markup on the cost for customers to borrow money. When rates increase rapidly, that pushes up the cost of business and home equity lines of credit, short-term loans like auto loans, and credit cards. In turn, that makes it more expensive to borrow, reducing how much people spend their money.

On the other hand, long-term interest rates are dictated by the 10-year Treasury. Mortgages, treasuries, and stocks are all investments, and each comes with a rate of return. If someone gets a 30-year mortgage at 5.5%, that means the bank expects a 5.5% return over the life of the loan. That’s typically a very safe investment.

Of course, no investment is safer than a 10-year Treasury bond. With these, you buy the Treasury bond, which equates to the Treasury borrowing money from you. They’ll pay you whatever the current market rate is on the amount you bought—right now, the rate is around 3%.

When the Fed is increasing rates rapidly, the stock and bond markets start to go crazy. People pull their money out of the stock market, and that money flows into bonds or treasuries. When that happens, it pushes up bond yields, which start to return more money with the increase in demand.

When the Fed raises its prime interest rate, it ultimately doesn’t correlate with long-term rates. If you have any questions about interest rates’ impact on the real estate market or anything else, give us a call or send us an email. We’d love to help you better understand our current climate.

What Our Changing Market Means for You

Thu, 14 Jul 2022 14:01:55 GMT

Here’s what you need to know about our shifting real estate market.

What’s happening in our real estate market? Our goal is to be your real estate team of choice, and part of that is keeping you informed on what’s going on in our area. We sell a lot of real estate, so we can get a feel for what’s happening even before laggy data comes out. Today we want to update you on our shifting market and explain what it means for buyers and sellers.

You can watch our full explanation in the video above or skip to each topic using the timestamps provided:

0:00 — Introduction

0:40 — Inventory has almost quadrupled, and it’s affecting our market

1:58 — Extra inventory is driving price reductions

2:36 — You can’t price your home based on early 2022

3:06 — Homes are staying on the market longer

3:43 — Why things are changing and what it means for you

4:22 — Our market looks like it did in 2019 before the pandemic

5:17 — The velocity of our market is changing

5:55 — Wrapping things up

If you have questions about today’s topic or anything else, please call or email us. We are always willing to help!

This Strategy Helps Homeowners Protect Themselves

Tue, 21 Jun 2022 19:54:48 GMT

As the economic forecast gets worse, HELOCs become an attractive option.

Make no mistake—we are entering troubling times. The latest inflation report just came in, and it was worse than expected. As a result, the Federal Reserve will likely raise interest rates even higher than they already have. We wouldn’t be surprised to see rates as high as seven, eight, or even nine percent by the end of next year. If you’re concerned about your financial future, don’t worry. The worst hasn’t happened yet, and there are plenty of ways you can prepare yourself for an economic downturn. Today we want to discuss one way you can protect and build your wealth: home equity lines of credit.

Over the last few years, home values have appreciated dramatically. Most homeowners have tons of equity, but they don’t have access to it. This is fine currently since you probably don’t need access to liquid cash immediately. However, if the economy or market gets worse, you can use this money to protect yourself in case of financial difficulties.

So how do HELOCs work? They’re essentially a credit card that uses the equity from your property. First, you have to use a local bank since all the big national chains stopped doing HELOCs once the pandemic hit. From here, let’s say you have $500,000 of equity in your property, and you take out $200,000 using a HELOC. If you don’t touch that money for a year, you’ll likely pay little to nothing in fees or interest, so you can sit on it and wait for an opportunity.

"Banks shut down access to HELOCs when times get tough, so make your move soon."

If the market gets worse or housing prices fall, you can use the money you took out from your HELOC to get a fantastic deal on a home. Many wealthy investors used this strategy to buy up lots of cheap properties during the last recession, and you can use this method too. The great part about HELOCs is that you only pay interest on money you utilize, and their interest rates tend to be stable at around 5%. If mortgage rates rise as much as we think they will, a 5% rate will look great in comparison.

In troubling times, assets like homes go on discount. You can use a HELOC to grow your future wealth, or you can sit on the money to protect yourself in case you face financial difficulties. Banks usually shut down access to HELOCs when times get tough, so if you want to use one, we recommend you reach out to a local bank soon.

If you have questions about HELOCs or anything else related to real estate, please call or email us. We are always willing to help!

The Truth About Our Housing Market

Thu, 02 Jun 2022 19:22:31 GMT

Pushing past the negativity to talk about what’s really happening in our market.

Our housing market is definitely shifting. Demand has decreased because interest rates have gone up; on average, a buyer’s monthly payment costs them 40% more than if they had bought back in October or November of 2021. In the properties that we’ve listed most recently over the past two weeks, we’ve seen around half the demand that we had at the beginning of the year.

However, this doesn’t mean the sky is falling. Remember that before COVID hit, it would take 30 to 40 days on average to sell a home in the Sacramento area. That was the longest amount of time it would take for homes to sell since 2013. The market was much softer back in pre-COVID 2019, but it was still a seller’s market.

Over the last two years, buyers and sellers took advantage of an incredible market where it was cheap to buy and easy to sell for a premium price. That time has passed, but that doesn’t mean the future of our market is bad. It just means that we’re moving toward a more normalized market.

"I recommend that you act quickly before conditions shift even more."

That should be fantastic news if you’re trying to buy a home. Further still, interest rates dropped down by almost 0.25% due to the volatility of the stock market. I expect the Federal Reserve to continue raising rates over the next two quarters, potentially pushing them as high as 6% or 7%. That will only reduce demand even more.

Ultimately, I don’t think the real estate market is crashing. Looking at supply and demand, it would be a remarkable feat to turn this seller’s market around. Inventory would have to quadruple to balance out supply and demand.

Whether you’re looking to buy or sell a home, I recommend that you act quickly before conditions shift even more. If you have any questions or need assistance, don’t hesitate to give me a call or send me an email. I’d love to be your voice of truth for the Sacramento region.

Have Interest Rates Affected Our Market?

Fri, 06 May 2022 16:07:47 GMT

Rising rates have had a dramatic effect on buyer demand in our market.

We’re getting so many calls, texts, and emails about what’s happening in real estate. Over these next few weeks, we’ll focus on updating you about our shifting market so you can make the best decisions. Interest rates are rising rapidly: as of the time of this blog, the average 30-year fixed interest rate is at 5.5%. What does that mean for our local and national markets as we move into spring? To find out, we’ll touch on a few key leading indicators.

As a note about these stats, we don’t want to look at the pending or closed sales because that’s data from a few months ago since homes take a while to close. These leading indicators tell us about what’s happening in our market right now.

All of the statistics indicate that these high interest rates are affecting our market. We’re seeing between 50% to 75% fewer showings on our new listings. We used to see six to 10 offers per property, but now we only get two to three. Based on this, we estimate that demand has been cut in half.

"Demand was cut in half, but that doesn’t mean our market is crashing."

The market is starting to shift as we go into May, but that doesn’t mean it is a bad time to sell. If you got multiple offers before COVID, that meant you got lucky. Around 60% of homes still get more than one offer, and on average, buyers are offering $20,000 to $25,000 over asking price.

Interest rates have affected our local market. If you’re selling your home, you should do so as soon as possible. If you’re a buyer, keep in mind that 5% is still a fantastic rate, and the interest rate on rent is 100%.

The Federal Reserve is supposed to meet soon, and we expect them to raise rates dramatically again. This doesn’t mean we’re in a recession or that the housing market is crashing. We saw demand get cut in half, and we still have plenty of multiple offers. It could get cut in half again, and we would still have a dramatic seller’s market.

If you’re considering selling your home, click this link to get a free home valuation . Our cash offer program can help you win a home if you’re looking to buy. Whether you’re buying or selling, feel free to call or email us if you have any questions. We would love to help you.

What Is Happening With Interest Rates?

Thu, 07 Apr 2022 19:13:22 GMT

What’s going on with interest rates, and why are they climbing so fast?

Rates are on the rise. We keep getting calls from clients about interest rates, and we’ve had to update a lot of pre-approvals recently. Today let’s break down what’s going on with interest rates and discuss why they’re so high.

The average rate right now is between 4.8% and 5%. We saw rates under 3% back in January, so they have climbed almost 2% since then. If you bought a home today, your monthly costs would be about 30% higher than they were in January.

This has been the fastest interest rate increase in over 30 years. They’re going up so rapidly because the Federal Reserve announced that there would be six more rate hikes this year. We’ve been talking about this possibility for the last six months now.

"Rates might rise to 5.5% or 6% by the end of the year."

However, the rate increases we’re seeing now might be projected from the future. Why would a bank loan you money today at a 4.25% rate when they could charge you 5% in a couple of months? It seems like the banks are trying to factor in the rate hikes that will happen later this year. Because of this, rate increases might level off, but they should still go up as the year progresses. Our best guess is that rates will rise to 5.5% or 6% by the end of 2022.

What does this mean for prices? We are not expecting a crash; none of the metrics that dictate price indicate one. However, the increased costs on buyers will reflect in the form of decreased demand. We’re already seeing this. We’re getting fewer showings and offers on homes today than we got on properties two or three months ago.

By summer or late fall, this hyper seller's market might return to normal. However, if you’re a buyer, you should lock in your rates now because homes won’t get any cheaper. If anything, home values will continue to go up. Even if they did drop, the rising interest rates would still make it more expensive to buy.

If you have any questions about our interest rates or are looking to sell, feel free to call or email us. We’d love to hear from you.

The Affects of the Ukraine War on Our Market

Tue, 22 Mar 2022 20:15:38 GMT

Though it may seem far off, the war in Ukraine does affect our economy.

For the first quarter of 2022, the market has been great with low inventory and high demand. It’s not as strong as it was last year, however, because interest rates have risen up to around 5%. The Federal Reserve has increased rates this year to slow down the market, but outside forces can also have an impact on what’s going on in the market. In particular, I’m talking about the conflict between Russia and Ukraine.

The war in Ukraine, in my opinion, will stop the Fed from moving as quickly in its efforts to raise interest rates. That will be beneficial to buyers, who will have more time to lock in our current low rates before they get any higher.

However, the market activity over the last couple of weeks is beginning to concern me. We’re receiving fewer offers per home, scheduling fewer showings, and the demand doesn’t seem as urgent as it was back in January. My concern is that war tends to inspire inaction in the real estate market; people aren’t sure what’s going to happen next, so buyers often hesitate to proceed.

It’s very important to pay attention to what happens in Ukraine over the coming weeks. The longer this conflict goes on, the worse I think it will be for the general economy of the United States. Here in Sacramento, many people may brush this off as some far-off event that doesn’t impact them, but we’re already beginning to see how it affects us.

"War tends to inspire inaction in the real estate market."

If you’re thinking about selling a home, I’d recommend that you push your timelines up. There’s so much uncertainty around interest rates, the war, and the stock market that I think you should take advantage of our relatively good conditions right now.

If you’re a buyer, know that real estate performs very well amid rising inflation. We know that real estate prices increase over the long term, so if you’re planning to stay in the home you’re looking to buy for seven to 10 years, now is the time to buy. That way, you can lock in our historically low rates before they increase.

My heart is with the Ukrainian people. It’s extremely sad to see what’s going on, but I know that democracy and freedom will prevail. If you have any further questions about how global events will impact your real estate plans, don’t hesitate to reach out to me by phone or email. Stay safe, and I hope to hear from you soon!

How Increasing Interest Rates Will Impact You

Fri, 25 Feb 2022 20:49:09 GMT

What’s going on with interest rates in our market? Here’s an overview.

The biggest news in real estate currently is that interest rates are on the rise much faster than we anticipated. Originally, we estimated that rates should be at 4.5% by the end of the year as the Federal Reserve combats inflation. However, inflation is rising faster than expected, so we’re seeing interest rates pick up the pace as well.

In December, the average interest rate was somewhere around 2.75%, and if you were lucky, you could lock in a rate around 2.5%. Today prime borrowers are locking in rates at around 4.25% to 2.5%. That’s the fastest interest rate increase in almost 10 years.

So what does this all mean to you? Well, it means that affordability is going to be greatly impacted as rates rise. If you were to buy a $500,000 home today, you would pay almost $200 more per month than if you had bought that home in December.

If you’re thinking about buying a home, I would lock in your interest rate now. It’s an extremely competitive environment because so many buyers are trying to get ahead of the rate hikes, and inventory is still very low. Many think that because rates are going up, prices are going to come down, but that’s not necessarily the case. Appreciation rates have been between 15% and 18%. As interest rates go down, appreciation rates should come down as well, meaning that prices will rise less quickly. But that doesn’t mean that prices are guaranteed to come down.

"As interest rates rise, home affordability will be negatively affected."

If you’re a seller, get your home on the market as soon as possible. With interest rates rising rapidly, buyers have this frenzied urge to lock in their interest rates. I think that the early summer is going to be a great market to sell a home. As we move deeper into the summer and more inventory comes on the market, we may see an impact on this seller’s market. Since it will be more expensive to buy a home, you’ll see fewer buyers in the marketplace.

If you have any questions about what’s going on in the market or how these conditions affect your situation, don’t hesitate to give us a call or send us an email. We’d love to help you.

Capital Gains and Real Estate

Mon, 31 Jan 2022 20:39:24 GMT

Here’s what you should know about capital gains taxes before selling.

Today we want to talk about a pretty important topic: capital gains taxes. No one likes paying taxes, but understanding how they work is a key part of building long-term wealth, so let’s talk.

Capital gains tax the appreciation of an asset. This could be stocks, bonds, artwork, or any other valuable that appreciates over time. So how do they affect the real estate market? Keep in mind that capital gains rates are lower than income tax rates, so plan accordingly.

"A ton of clients have been surprised by how much capital gains they have to pay."

If you are married, you can defer up to $500,000 in gains, and if you’re single, you can defer up to $250,000. There are also long-term and short-term gains taxes, but for real estate, we’ll be talking about long-term gains.

In California, there is an additional state-level capital gains tax, so don’t be caught off-guard when you sell your home. After the pandemic, home prices have skyrocketed, and a ton of clients have been surprised by how much capital gains they have to pay. Make sure you budget any taxes into your post-sale budget so that you aren’t surprised.

If you have any questions about today’s video, please call or email us. We're always happy to help.

5 Renovations To Get You High Return on Investment

Thu, 20 Jan 2022 16:22:48 GMT

Here are five renovations you can make to net the highest ROI possible.

Are you looking to renovate your home in 2022? It’s an exciting process, but it’s hard to tell what renovations will net you a high return on investment from the start. Fortunately, the Elevate Realty Team has plenty of experience renovating homes through our concierge program, so today we want to tell you about the top five remodels you can make to net a high return on investment:

1. Paint. We don’t just mean a touch-up paint job or doing one room that’s a little out of shape; a full-interior paint job will net you the highest ROI and make the biggest impact on how modern a home looks. If you have old gold fixtures, but your paint job is new, your home will still look fresh. We estimate a full paint job will net you three or five times as much money as you initially spend.

2. Flooring. This one is tricky because people tend to replace some of their flooring but not all of it. For example, a home might have old flooring in the kitchen but new flooring in the master bedroom. We understand why people do this, but we recommend you have a maximum of two types of flooring in your home. Buyers’ No. 1 complaint is too many types of flooring, even when it’s brand new, so don’t make this common mistake.

"If you combine new light fixtures with new paint, you will be shocked at how current your home will look. "

3. Landscaping. This can be as simple as hedging and cleaning up your lawn. You want to make a great first impression, and landscaping will be the first thing people see.

4. Fixtures. If you combine new light fixtures with new paint, you will be shocked at how current your home will look.

5.Buyer-requested repairs. There are always repairs or little fixes that buyers want you to make. It’s a seller’s market, but we recommend you go ahead and do these repairs. This way, you don’t have to compromise on your sales price.

Hopefully these tips gave you an idea of where to start with your home renovations. If you want help renovating your home, you can always check out our concierge program, where we renovate now, and you pay later. Just call or email us; we are always willing to help!

How Do Rising Interest Rates Affect You?

Tue, 28 Dec 2021 16:02:24 GMT

Today we’ll go over the Fed’s plans for interest rates and bond purchases.

What does it mean when the Fed raises interest rates? The Fed controls the prime interest rate. If the prime interest rate is at 0%, like it has been since the start of the pandemic, that means the Fed charges banks 0% interest to loan money. That's why interest rates are very low.

Last week, the Fed rolled out a policy to start raising interest rates to combat inflation. They’ve announced that they're going to raise interest rates three times next year and then three or four times in 2023. This will dramatically impact the real estate market because buyers won’t be able to afford as much.

The other component of this situation is bond purchases. The federal government has been spending about $50 to $80 billion per month buying mortgages from banks. They’ve announced that they're going to reduce their bond purchases by $30 billion per month. By stimulating the economy less, it means that interest rates will substantially increase next year, and the local real estate market could be affected.

"The Fed announced that they're going to raise interest rates three times next year."

If you've been considering buying or selling a home, you should act now. We're honored and thankful to have helped so many people this year. We'll be paying attention to interest rates and update you as soon as changes happen. If you have any questions, don’t hesitate to call or email us. We look forward to hearing from you. Have a fantastic new year.

What’s Happening in Our Real Estate Market

Thu, 09 Dec 2021 21:42:38 GMT

Here are our latest Sacramento market trends as we head into 2022.

What’s been happening in our real estate market? Let’s take a look at the latest trends and make some predictions about what they mean for 2022.

Just like in 2020, the 2021 market has been wild. If you live in the Sacramento area, your home’s value has gone up somewhere between 16% and 19%. If you add this to how much your home value increased in 2020, then you probably have a ton of equity in your home.

"The market is still heavily skewed towards sellers."

At the beginning of 2021, we saw record low inventory and crazy high demand. This trend has continued throughout the year. In our area, we’ve averaged fewer than 1,000 homes for sale all year. Things evened out a little bit as we headed into fall and winter, but the market is still heavily skewed towards sellers.

So what does the future hold? The first quarter of 2022 will look similar to the crazy market at the beginning of 2021. Interest rates are starting to creep up, so buyers will hop off the fence and try to take advantage of low rates while they can.

Due to this, we recommend you buy or sell a home within the first two quarters of 2022. Interest rates will likely rise to deal with inflation, so take advantage of the hot market while you can.

If you are looking to make a move early next year, it’s never too early to start planning. Give us a call or shoot us an email; we are always willing to help.

Zillow Is Closing Their Home-Flipping Division

Thu, 04 Nov 2021 18:28:16 GMT

Here’s why Zillow is ceasing operations of their home-purchasing division.

There is some huge news in real estate that I need to share with you. Zillow has ceased purchasing homes through their Zillow Offers program . Homeowners were using this program to get fantastic cash offers, close within two weeks, and skip the process of listing without having to take much of a discount.

Why did this happen? You know how I say that Zestimates aren’t all that accurate due to the inaccuracy of their data, and a home’s value can’t be determined solely through an algorithm? It turns out that those inaccurate Zestimates are what caused Zillow’s shuttering of this program.

They were basing their price off of the Zestimate technology. Say your Zestimate was $800,000; Zillow would make you an offer at or above that price. Last quarter, Zillow lost $350 million on properties they purchased at the Zestimate value when they tried to resell. They're estimating another $300 million loss in the fourth quarter of 2021.

We’ve been saying this for the last two years. What Zillow was paying for homes for the last few years made no rational sense. Corporate money was flowing into local markets and throwing everything out of whack.

"Zillow lost $350 million on this program in Q3."

The main takeaway here is that the Zestimate is not accurate. It’s a good starting point, but just know that it’s likely off by 10% to 20%. Don't trust the Zestimate; trust your Realtor. A professional like myself who has boots on the ground can determine the best price for your home and get it sold for top dollar.

If the convenience of a quick sale is what interests you, we can also help you through our instant offer program here at Elevate Realty Group. Reach out to learn more.

As you start to plan your next move, make sure you consult an expert. If you have questions about selling your home or anything else related to real estate, don’t hesitate to reach out via phone or email. We look forward to hearing from you soon.

Explaining Senate Bill 9

Tue, 02 Nov 2021 14:50:32 GMT

Here’s what SB-9 is and how some Sacramentans can benefit from it.

A landmark bill was pushed through by the Senate and signed by Governor Newsome several weeks ago called SB-9. It’s designed to create inventory and solve the increasing prices and inventory crisis we currently face. However, will SB-9 truly create a slew of inventory? In my opinion, no, and many experts agree. However, that doesn’t mean it’s a bad bill.

SB-9 is a new, landmark bill that allows single-family residential-zoned property owners to split their lot and create a second unit. That’s different from creating an accessory dwelling unit (ADU), which has to be under 1,200 sq. ft. SB-9 means, for example, taking your 6,000 sq. ft. lot, splitting it in half to create a 3,000 sq. ft. lot, building a home on it, and selling it to create income. However, certain requirements must be met.

"SB-9 is a useful option to earn some cash if you don’t need such a large lot."

The second lot size must be at least 1,200 sq. ft., but that’s very small. With that said, SB-9 is an excellent option for property owners within Sacramento city limits who have a 6,000 sq. ft. lot or larger. If you don’t need all that space, you can create some income or do some long-term financial planning by saving up and building a second unit to hopefully split off and sell or rent out long term.

Another caveat is that the lot must meet local zoning requirements, and localities are still in charge of setting how big the property can be and how large your lot needs to be. However, this is a state law, so localities have to follow certain requirements if you meet eligibility conditions. Another requirement is that you need to have lived in your home for a certain amount of time; you can’t split your lot and sell both properties at the same time. You’ll have to sign an affidavit that states that legally, they can come after you if you sell your property before the given time requirement.

SB-9 is a useful option to earn some cash if you don’t need such a large lot. If you’re wondering whether this is a good option for you or not, give us a call. We’d love to discuss this with you and answer any questions you have.

HUGE change in California zoning laws! What effect will this new zoning have on inventory? Shared from Ryan Lundquist

steve@homesbyelevate.com (Steve LaMothe) — Wed, 29 Sep 2021 17:11:52 GMT

Massive change in California single family zoning law to allow building secondary units!

Some perspective (not arguing for or against):

We need time: This is a huge change, but will it alter what neighborhoods look like? In short, there are some sensational ideas floating around, but we need time to tell. With that said, it seems so far news sources are talking about only modest change. For instance, First Tuesday quotes a study stating at the very most we could see an impact to 410,000 parcels (roughly 5.4% of parcels).

Minneapolis as a case study: In 2019 Minneapolis legalized triplexes to be built on single family lots and Axios points out there was little change. In fact, there were only 70 units added in 2020 (20 brand new units and 50 single family units converted to multi-units). Oregon has also banned single family zoning in most cities, so let’s keep an eye on Oregon too.

Scared of renters: I’ve heard some fear about more renters moving into neighborhoods, but did you know roughly 45% of residents in California are renters? Let’s be cautious about vilifying half the population.

Expensive to pull off: Just because zoning has been modified doesn’t mean we will see a big change in the market. It is still going to be really expensive to build, there is a labor shortage, and land in California is pricey.

Three units were already allowed: Under existing California law home owners have already been allowed to build two other units on site. If you didn’t know, you can build an ADU (accessory dwelling unit) and JADU (junior accessory dwelling unit). This is good to keep in mind as we talk about the end of single family zoning and the idea that new units are now possible because of SB9. All I’m saying is technically more units have already been possible.

Highest and best use: As far as highest and best use in appraisal reports, that’s something appraisers will need to think about as they craft highest and best use statements. Let’s remember highest and best use isn’t just about what is legally possible, but also what is financially feasible and even physically possible. In short, it’s not going to be financially realistic to see multi-units built on every single family lot, so the highest and best use will continue to be the existence of single family homes. Of course we’re going to have to see if SB9 affects some neighborhoods or price ranges more than others . Moreover, it could be difficult to fit a multi-unit property on a postage stamp lot, so it really might not even be physically possible in some cases.

We need more inventory (but not like this): For years we’ve been saying we need more housing inventory, but when SB9 became law so many have said, “It is true we need inventory, but not inventory like this.” I completely get it and I’m not here to argue. Ultimately this new law is likely to expose NIMBYism (not in my backyard) and YIMBYism (yes in my backyard).

Other: What else? What’s on your mind? What did I miss? What are you concerned or excited about?

In closing, this change in zoning is certainly unconventional and even scary to many, but the impact is still to be determined. My advice? Let’s be objective about the issues, listen, embrace facts, and avoid sensationalism.

I hope this was helpful. Thanks for being here.

Questions: What do you think about the end of single family zoning? Is this good or bad? What opportunities and threats will exist as a result of this?

How Our Concierge Program Made a Client $200,000

Mon, 27 Sep 2021 17:22:46 GMT

Here’s how our concierge remodeling program made a client $200,000.

Today we want to talk about what our team offers you over other real estate agents. We’re trying to innovate how homes are sold, and I have an anecdote that illustrates what I mean.

One unique benefit of our team is our concierge remodeling program. We pay and execute renovations on your home, and you pay us back at closing. No other bank, team, or lender can offer this service for you, and since we have connections with contractors, we can do the renovations faster and cheaper than you could yourself.

"Our job is to show you how valuable our service is."

Recently, we had a client enroll in our program who needed a lot of work done. The pool was empty and cracked, the paint was old, and the kitchen needed some work. They interviewed three agents for a suggested list price, and all three agents recommended something around $650,000. One of them mentioned that renovations would improve the price, but all they did was offer to refer some contractors. At the end of the day, it was expected to cost around $75,000. This is the typical real estate experience.

Our job is to show you how valuable our service is. When this client talked to us, we spent $51,000 of our own money to renovate the pool, repaint the house, and landscape. The entire process took under two months, and we even did more repairs than we originally intended. After our renovations, we were able to list our client’s home for $850,000. After our fees and paying us back for the repairs, they walked away with nearly $150,000 extra.

When our clients moved to Missouri, they used the extra money we got them to add an addition to their new home. By working with us, they were able to use renovations to pay for their next renovations. Had they gone with the recommendations from other agents, they would have left $200,000 on the table. That’s a life-changing amount of money.

If you are interested in our concierge program, or if you have any other real estate questions, please contact us via phone or email. You can also visit our website at https://homesbyelevate.com . We look forward to hearing from you!

Finally, Exciting News for Buyers!

Mon, 23 Aug 2021 20:12:17 GMT

We finally have some thrilling news for buyers: Now is the time to buy!

I have some thrilling news to share with buyers! It’s been 18 months or so since we’ve been able to say that because it’s been such a hyper-competitive seller’s market. Almost every home was receiving multiple offers, and many buyers were being bid out or didn't want to compete. Here are the three reasons it’s currently an excellent time to buy a home:

1. Interest rates just hit their lowest point in 2021. Rates were at all-time lows last year, but it doesn’t get much better than this. Rates are averaging between 2.75% and 3.25% right now depending on your credit score. Those are extremely low rates from a historical perspective. We don’t foresee this lasting very long because the Federal Reserve has already announced that rates will increase at the end of the year. You have three to four months to take advantage of these great rates, so don’t wait too long!

2. There’s less competition. For the first time since the pandemic began, there is less competition per property. We’ve seen fewer multiple-offer situations and less money being offered over asking price. Instead of offers going $30,000 to $40,000 over asking, now it may be $5,000 to $10,000. This is a fantastic change for buyers who don’t have much extra cash in the bank.

"It’s time to jump back into the market."

3. It’s better to own than to rent. The average net worth of a renter is around $4,600, and the average net worth of a homeowner is almost $200,000. That majorly impacts your financial plan long term. Especially with the power of low interest rates, you can afford much more home and fix your housing costs. The average rent in Sacramento has risen 8% per year for the past five years, which equals a 40% escalation in housing costs.

So whether you’re just now entering the real estate market or you gave up your search, it’s time to jump back into the market. By no means is the market crashing. It’s just leveling off—it was inevitable.

If you want to learn about our cash-backed offer program, visit our website . It’s redefining the way you buy, making our clients more competitive, and improving our offer acceptance by 70%. No one else offers this program.

If you have any questions about buying or real estate in general, call or email us. We would love to help you.

The market is Slowing.... From appraiser Ryan Lundquist

Fri, 13 Aug 2021 18:12:00 GMT

Is the Sacramento market "slowing down"..... Yes is the answer, but its not bad!

This is a "re-share" from a friend. Ryan Lundquist

NOT DULL: The market is slowing, but it’s not dull. It is still really competitive.

DOOM AND GLOOM: The doom and gloom crowd loves to say the market is starting to crash because of the slowness we’re seeing, but stats right now don’t support a crash and burn narrative. In my mind it’s premature to say the market has shifted directions. Of course if the stats go that way I’ll change my narrative. For now it’s most reasonable to say we are seeing what looks to be a normal seasonal slowing. Stay tuned.

Glowing & slowing market update:

I’m doing a big market update for SAFE Credit Union next week. There is no cost. It’s totally free , but you have to register. It’ll be at 9am on Zoom on Wednesday August 18, 2021. It’ll be about an hour and packed with lots of stats and perspective. REGISTER HERE.

10 WAYS THE MARKET IS SLOWING

1) Prices are starting to dip: Last month we finally saw most price metrics take a dip from the previous month. The median price usually peaks around July, so this is what we would expect to see in a normal year.

2) We’re seeing fewer sales happen: Around this time of year we start to see sales volume slump. Here is one of my favorite images to help explain what I mean. The green line represents average monthly sales volume and we typically see the number of sales increase from January to June before dipping for the rest of the year. This is normal. The black line represents 2020 and it was such a freakishly abnormal year. Check out the red line though (2021). Volume peaked in June and it started to soften in July, which puts us right on track with normal historical averages. By the way, we had a thirteen month streak where monthly volume was up over the previous year, but that streak has been snapped. Last year we saw highly abnormal demand in July onward, which is why this year volume is actually down (even though it was a normal month in terms of numbers).

3) It’s taking longer to sell: Last month it took an extra day to sell in Sacramento County and two extra days in the region. Since August pendings in the region have taken sixteen days to get into contract, which is up two days from July sales. This is still lightning fast, but it’s clearly slower than it was a few months ago.

4) More homes are selling below the list price: There are slightly more homes selling at or below the list price right now. For two months in a row we’ve seen this metric increase and it’s a sign of a market that is slowing. Keep in mind in a normal market we should be seeing closer to half of all homes sell at or below the list price, so this market is still on steroids .

5) There are fewer offers above the list price: Here’s a visual to show what buyers are paying compared to the asking price. Most categories slowed slightly last month, but not every category. The most aggressive range in the market is 1-5%. Last month properties on average sold 3.7% above the original list price, which is still one of the highest percentages ever for the region, but it’s down 4.1% from the previous month. Keep in mind stats show we do not have an overpriced market, but sellers would be wise to note the clear change in temperature lately and price according to similar properties that are getting into contract instead of sensational headlines from a few months ago .

6) Housing supply has increased slightly: We are seeing an uptick in monthly housing supply. We are still at an absurdly low level with basically less than a one-month supply of homes for sale in most surrounding counties. In the region we have 0.92 months of supply, which means we basically have a month worth of listings before they run out. This number should be easily twice this amount.

7) More listings are hitting the market: We are definitely seeing more listings hit the market, but we are nowhere close to normal levels yet. About six months ago we had 1,200 or so listings on any given day and now we have over 2,000 listings. Granted, we should have about twice as many listings, but this is a step in the right direction. We typically start to see fewer new listings hit the market around this time of year, but one thing to watch is whether sellers pull back from listing their homes in light of the Delta variant . To be determined.

8) Smaller-sized homes are selling: If you didn’t know, when the spring market fades we typically start to see smaller homes sell, and that is exactly what has been happening for two months. The dark blue line represents the average home size in Sacramento and it goes up and down like clockwork each year. Do you see how size typically hits a seasonal peak during May or June (besides last year)? Anyway, the average size slumped in July quite a bit. This is actually something to watch because it can affect price stats. What I mean is whenever we interpret price stats we have to be in tune with what is actually selling.

9) Fewer multiple offers: For three months in a row we’ve seen fewer multiple offers in the Sacramento region. Keep in mind the percentage of offers is still about as high as it’s ever been.

10) Word on the street: I’m hearing from lots of real estate agents, loan officers, and appraisers that they’ve seen a slightly slower vibe. I haven’t heard many people call this market dull, but there is lots of chatter about slowing. At the same time I’m hearing things like, “My listing had 11 offers” or “We got outbid again,” which speaks to how competitive it is right now. Buyers, be hopeful that we’re seeing some seasonal slowing, but be careful not to think you’re poised for a big price discount. We’re just not in that sort of market.

Now more stats if that’s your thing.

——————– BIG MARKET UPDATE ——————–

JUNE TO JULY:

This is a helpful view to understand the market has been slowing. Take a look at how most metrics softened from June to July.

LAST YEAR VS THIS YEAR:

Last year the market was dull at the beginning of the pandemic, so this year versus last year gets a little weird for a comparison. My advice? Take these percentages with a grain of salt because they’re inflated due to sagging numbers last year. And remember these percentages DO NOT actually mean every house is worth that much more either.

MORE PRICE VISUALS:

A few more visuals to show the insanity of price growth and softening lately. Look how far disconnected 2021 prices are from previous years.

Anyway, this is starting to get way too long.

MARKET STATS: I’ll have lots of market stats out this week on my social channels, so watch Twitter , Instagram , LinkedIn , and Facebook .

Thanks for being here.

SHARING POLICY: I welcome you to share some of these images on your social channels or in a newsletter. In case it helps, here are 6 ways to share my content (not copy verbatim). Thanks.

Questions: What are you seeing out there in the market? What are you hearing buyers and sellers say? I’d love to hear your take.

The Top 3 States That Californians Are Relocating To

Mon, 09 Aug 2021 20:50:48 GMT

Here are the top three states that Californians are relocating to.

A lot of our clients have been selling their homes and leaving California, and it seems like there are a few states in particular that they’re moving to. Here are the three top locations that Californians are moving to:

1. Tennessee: This has been a hotspot for Californians over the last two years. The most popular area is Williamson County—take a moment to look up the area and see everything it has to offer. The median price in this county is around $400,000, but the state’s overall median price is around $150,000, so there are definitely more affordable areas. There’s no state income tax, and it’s roughly 30% cheaper to live in Tennessee versus California.

"All these states are fantastic places to consider."

2. Texas: This state is usually No. 1 on these kinds of lists, but locations in Texas are changing. Austin and Dallas have gotten very expensive, so you may want to look into areas like the Hill Country outside of Austin, which has a median price of $325,000. There are wineries, beautiful landscapes, and a quick drive to the nearby city. There are also some great areas outside of Dallas—Fort Worth, for example. Katy is also very popular, and it has a median price of around $200,000. There’s no state income tax in Texas, either. Check it out.

3. The Carolinas: Both North Carolina and South Carolina are popular, but you’d have to move across the entire country. The median price in South Carolina is around $280,000, and you can find a great home on the coast. However, there is the potential for inclement weather along these areas.

All these states are fantastic places to consider, but personally, Tennessee is one place I’d love to relocate to if I ever decided to leave California. If you’re thinking about moving to a new state, or if you have any questions about buying or selling, feel free to reach out to me. I look forward to hearing from you soon.

Build Generational Wealth Through Real Estate

Mon, 12 Jul 2021 15:43:02 GMT

Real estate is the best tool for building generational wealth.

How do you build long-term generational wealth through real estate?

To answer that question, let’s first talk about the most important stat of all. I highly recommend sharing this on social media and echoing it to all your friends, family, kids, grandkids, etc.: The average net worth of a renter is $4,600, while the average net worth of a homeowner is $186,000. Keep in mind, this stat was recorded back in 2019—it doesn’t even take into account what happened after COVID.

Why the difference? The wealthiest among us don’t typically take in a lot of income. Obviously, their income compared to the other 99% is pretty high, but as a percentage of their net worth (i.e., all of a person’s cash, belongings, real estate holdings, and stocks minus their debts), it’s not very high. That’s the conversation I want to have with you: As you gear toward retirement, what is your net worth and how do you grow it?

Net worth is what the wealthiest among us truly care about—they’d rather not take income.. They’d rather buy assets because those are what appreciate, and the No. 1 asset you should focus on buying first is your primary residence. There are three reasons why.

First, the average appreciation over the long term is right around 6%. If you apply that to the median sale price in Sacramento—$480,000—you're looking at $28,000 to $30,000 per year in terms of yearly appreciation. If you’re renting, you’re not able to take part in that appreciation and watch your net worth grow. For every mortgage payment you make on your primary residence, you’re paying down the principal, which means you’re seeing appreciation every month.

"I believe in this principle to my core, and I think you should be talking about it to everyone around you."

Furthermore, over the course of the pandemic, we’ve seen home values increase by 20%, which means the average homeowner in Sacramento saw their net worth rise, at a minimum, by $120,000 in the last 14 months. If you’re a renter, even if you make a great income, your net worth is probably quite similar to what it was before COVID hit. Real estate is the best tool for building long-term generational wealth for your family, and the people who have the most money own multiple properties, businesses, buildings, etc. They’re buying assets instead of saving money or renting things.

Lastly, as your net worth grows, you can take advantage of tax benefits. Remember, your net worth constitutes your total holdings minus your debts. Your whole focus should be tracking that number and growing it so you can have income in retirement to justify the life you want to live. Your asset income should replace your job income so that someday, you won’t have to work anymore.

I believe in this principle to my core, and I think you should be talking about it to everyone around you. Did you know that only 48% of all people own real estate? That means half of the country is missing out on this opportunity to build generational wealth. It’s extremely rare for someone to have wealth creation without owning at least their primary residence and, most likely, several rental properties.

If you’d like to talk more about building generational wealth through real estate, don’t hesitate to reach out to me. If you’re interested in selling and want to know more about my team’s concierge program or instant offer program, check out our website.

10 Steps To Selling Your Home

steve@homesbyelevate.com (Steve LaMothe) — Thu, 24 Jun 2021 00:00:46 GMT

Steve LaMothe breaks down the 10 steps to Prepare and sell your home

1. Identify your motivation for selling

Spend some time exploring your reasons for selling. The process can be arduous and expensive, so make sure you’re certain you want to sell before you get too far into it.

Address finances: Call your current loan servicer to discuss your remaining mortgage balance. It’s your first step toward understanding how much equity you’ll have when you sell. Knowing this figure can help you budget for improvements you’ll need to make before listing or help you plan for your future home purchase.

Make a list of nonnegotiables: Jot down your must-haves and deal breakers. What’s your time frame to move? What’s your budget for pre-listing home improvements? What’s the minimum sale price you will accept?

2. Research the best time to sell in your area

Understanding the state of your local real estate market — including whether you’re in a buyers or sellers market — can help you identify the best time to sell. If you have flexibility in your timing, you might consider waiting for a sellers market, which occurs when there are more buyers searching for homes than there are homes available. It gives sellers the negotiation power and can drive up prices.

Traditionally, the best time of year to sell your home, both to maximize your profits and to minimize time on market, has been the first half of May. Homes listed for sale in this window often sold six days faster than average and for $1,600 more, according to Zillow research. 2020, however, reset the rules , with the prime selling season extending well into the off season.

This selling window can vary based on your local real estate market, so check out your Zillow Owner Dashboard to learn which month is the best time to list in your local area. Your Owner Dashboard (which can be accessed after claiming your home), also shows your home’s selling price now, compared to the ideal selling month, and it’s based on seasonal sales patterns in your area.

3. Commit to a representation strategy

One of the first things you’ll need to decide is if you’re going to sell your house on your own (which is called “for sale by owner” or “FSBO”) or if you’re going to use a real estate agent. In 2018, just 10 percent of sellers who reported selling in the past year completed the sale of their home without ever engaging an agent. Another 10 percent tried to sell on their own but eventually turned to an agent or broker for help.

Consider the pros and cons of each option , including how quickly you need to sell, the temperature of your local market, and any challenging features of your home that may require expertise in negotiations.

If you plan to sell FSBO:

Allocate enough time to prepare your home for listing and market it across multiple channels — this is why real estate agents work full time.
Research recent comparable sales in your area.
Keep flexible hours for showings or use a lock box.
Listen to feedback from agents and buyers without taking it personally.

If you plan to hire an agent:

Ask for referrals.
Interview each potential agent.
Don’t hesitate to negotiate your contract.
Trust your agent’s home-selling advice.
Hire EXPERIENCE over cost.
Traditional listings sell on average 6-10% more than off market or Instant offer approach.

I nstant Offer Approach

Can be very fast and convenient.
Select your closing date and move out date.
Provides certainty.
Most expensive route to sell your home.

4. Complete home improvements

Preparing to sell your home typically takes some work, whether that’s your own sweat equity or some professional improvements. After all, you want buyers to fall in love with your home, like you did when you first bought it. Spend some time getting your home move-in ready, in a way that will appeal to the broadest range of potential buyers.

According to research, sellers who bring in professional help spend an average of $4,953 preparing their home for sale, but the repairs and upgrades you decide to make will probably depend on the condition of your home and what buyers in your area are looking for. Your real estate agent can be a big help in identifying the items that should be on your to-do list. Whatever you decide to do, here are a few tips for home improvements.

Opt for a pre-inspection: While it’s likely that your buyer will do an inspection as part of the purchase process, sellers often opt to do their own pre-inspection . Among sellers who worked with an agent, 25 percent had an inspection done before contacting an agent. Why? A pre-inspection can help you avoid surprises down the road and gives you a chance to fix the items that an inspector would flag for a buyer.

Increase ROI with popular improvements: Consider adding some of the home features that today’s buyers love , like a steam shower, professional kitchen appliances, heated floors or radiant heating, or solar panels.

Don’t forget curb appeal: To make that all-important first impression, spend some time on your front yard. Powerwash driveways and sidewalks, add some seasonal plants to pots and garden beds, cut back overgrown plants and rake leaves.

Avoid improvements by selling as-is: While you will likely pocket less money in the end, selling a home as-is , without completing any major improvements, is a way to speed up your overall sale process and limit upfront out-of-pocket costs.

5. Price your home competitively

Finding the right listing price for your home can be a challenge, but it’s one of the most important factors in a successful home sale. Homes that are accurately priced are more likely to sell in a timely manner. According to Zillow research , 57 percent of homes nationwide sell at or above listing price when they accept an offer in the first week. In the second week on the market, that drops to 50 percent and trends downward as the weeks go on.

To sell quickly, use all the tools at your disposal to help you price your home for sale.

Research comparables: Also known as “comps,” comparables are records of recent homes that have sold and their sale price. It’s important that the comps you use as reference are of a similar size and condition as yours, and in a very similar area — the closer to your home, the better.

Hire an appraiser: Having a professional appraisal done on your home can cost between $300 and $700, but it can be a small price to pay if it helps you sell your home quickly and for an appropriate price.

Reference the Zestimate: Zillow’s Zestimate is the estimated market value for your own home, and you can find it by searching your address on Zillow. Your home’s Zestimate is computed daily, taking into consideration millions of public and user-submitted data points. It can be a great place to start your home-pricing conversation.

Lean on your agent: Your real estate agent should be an expert in home values in your area, so they’re a great resource for finding the right listing price. Plus, they can provide guidance on a pricing strategy that will spark the most interest and maybe even inspire a bidding war.

6. Stage your house to sell

Preparing your home to sell should also include arranging your furniture, organizing and decorating in a way that appeals to the widest range of potential buyers.

Staging your home can take many different forms and require varying levels of effort, but here are a few key tips:

Declutter, clean and depersonalize: Too much stuff in a room can make your home feel small, crowded and lacking in storage. And having too many personal items, like family photos, can make it hard for buyers to picture themselves living in the home.

Select a staging plan that fits your needs: There are multiple degrees of home staging to choose from, based on your budget, timeline and how valuable staging is in your local area. Some staging can be done in a DIY manner, while other larger staging projects are typically completed by a professional.

Pare down pets’ and kids’ belongings: While many buyers are pet owners or parents of young kids , they want to visualize their own families in the home, not yours. Take the time to repair pet damage, remove pets’ belongings, and clear away kids’ items like gates, highchairs and piles of toys.

7. Market your listing effectively

Once your home is ready for buyers, the next step is getting your listing in front of as many buyers as possible. Here are some tips for how to list a home for sale.

Advertise across multiple channels: Today’s home buyers search for homes in many ways, from surfing online listings, to looking for ‘for sale’ or ‘open house’ signs in front yards. The more places your listing shows up, the more buyers will see it — and the more likely you are to find a buyer.

Invest in professional marketing photos: With the majority of buyers (and their agents) searching online, your home’s MLS or Zillow listing is your home’s first impression, and professional photos can go a long way toward making your home stand out. Make sure the photos are realistic and high quality. You might even consider doing a video tour .

Craft an enticing listing description: Your listing description should highlight your home’s best features and the amenities that buyers in your area are looking for. If a rooftop deck, backyard pool, access to public transit or nearby green spaces are popular where you live, make sure to include them. Overall, though, keep your listing description short and avoid confusing real estate jargon.

Schedule showings: You’ve done all the work to get your home ready for buyers, so make sure you accommodate as many showings as possible, whether that’s remote viewings , private tours or open houses . And there’s more to a showing than just a clean house. Make sure there’s a way to let shoppers leave feedback. Keep records of who visits, and if you’re selling on your own, consider having a third-party representative host your tours so buyers feel comfortable speaking their mind.

8. Watch for closing hurdles

If your home has been on the market for a while and isn’t selling as quickly as you had hoped, you may need to rewind and address some of the steps discussed above, such as making home improvements, setting a competitive price and marketing effectively.

Getting that great offer is probably the biggest hurdle to the home-selling process, but once your home goes under contract, that doesn’t necessarily mean the challenges have ended. Consider these potential issues that can come up between the time you accept an offer and closing day.

Bad home inspection report: The home inspection a buyer does on your home can raise all kinds of red flags, and when major issues are uncovered, a buyer might decide the fixes are too expensive and walk away from the deal. Whether the inspection report reveals small fixes or big problems, be prepared to negotiate after the report is completed.

Home appraisal too low: If your buyer is financing the home, their lender will typically order an appraisal to make sure the home is worth the amount being financed. If the value of the home comes in below the loan amount, the buyer will have to come up with the difference in cash or walk away from the deal.

Financing failure: During the underwriting process, it’s possible that your buyer’s financing could fall through. This can be caused by many different things, such as new debt, missed credit card payments, or a change in employment that makes the bank feel like there’s too much risk in financing the home.

9. Move out

Plan for moving costs : No matter where you’re moving, moving is expensive and time-consuming. Even a local move of less than 100 miles, serviced by two movers and a moving truck, has an average charge of $80 to $100 per hour.

Make sure you take steps to prepare to avoid any costly surprises on moving day.

Time it right : Not only is moving expensive, but the timing is crucial — according to the Zillow Consumer Housing Trends Report 2018, 61 percent of sellers also buy within a 12-month period. If you’re buying and selling simultaneously, you might consider temporary housing so you don’t have to worry about timing your sale and purchase perfectly , which rarely happens.

Be prepared to move quickly : The average time it takes to sell a house in 2018 is between 65 and 93 days, from list to close, so you’ll need to be prepared to move out in a short period of time. It’s a must that you be out of the home by the closing date.

10. Fulfill closing obligations

When it comes time to close on the home, you as the seller are responsible for some legal documents and processes.

Complete repairs and obtain certifications: If you are obligated to complete repairs as a condition of your post-inspection negotiations, it is your responsibility to complete those tasks before closing. Additionally, if the buyers asked for (and you agreed to) any specific inspections or certifications, like a sewer line inspection or roof condition certification, those should be completed as well.

Submit property disclosures: In most states, as a seller you’re required to disclose any known defects or issues that could affect the value or safety of the home — this is known as a property disclosure . These must be documented in writing prior to closing, and the specific rules and procedures vary based on where you live.

Review expected closing costs: Selling a house can be expensive, so review your estimated closing costs ahead of closing day to prepare for the charges you’ll see. Closing costs for sellers can be as high as 8 to 10 percent of the sale price of the home, and that amount is made up of your agent’s commission, the buyer’s agent’s commission (which is typically paid by the seller), and taxes and fees. But, assuming you have some equity in the home you’re selling, these costs will come directly out of the profits you’ll be receiving upon closing.

Sign documents: One of the very last steps is showing up for your closing appointment, where you’ll sign all the legal documents related to the sale of your property. Depending on the state you live in, you may sign during the same appointment as your buyer, or you may do it separately.

Hand over keys: The keys are handed over to the buyer once you vacate the premises, and as dictated in your contract with the buyer. If the buyer is taking immediate possession, you might hand over the keys at the closing appointment. Or, depending on the terms of your agreement, it could be much later.

Close the transaction: At closing, the settlement agent (either the closing attorney or escrow company hired at the outset of the transaction) will record the new deed for the home with the county, pay off your remaining mortgage balance, pay all closing costs and make sure you receive your profit.

The Market Will Decline, Not Crash

Tue, 22 Jun 2021 21:37:12 GMT

Here’s why this hot seller’s market will start to cool down.

I'm making a bold prediction today which I'll probably be criticized for. I truly believe that the red hot seller’s market of February to April where there were 20 offers on every home and 100 showings per listing is over. We have been seeing less showings and offerings per home since May.

By no means am I saying that this is not a great market still, but you're going to stop seeing 30 to 100 offers and 5% appreciation in one month. It's just not going to happen any longer. Here are the three key points why this is happening and why it was inevitable that the market would slow down:

Disclaimer: We're still in the best sellers market I have ever seen, so every home is still selling at a premium but through the rest of the year we'll definitely see the market cool off.

"By no means am I predicting that there's going to be a market crash."

1. Inflation will force the Feds to raise interest rates. We've already seen that rates are a little bit higher now than they were back in January. The consumer price index was up 6% last month. That means that everything that you buy is more expensive. The Fed controls that inflation by raising interest rates. As soon as rates go up, you're going to start to see demand wane.

2. Buyer fatigue. Buyers are less willing to jump into a multiple-offer situation if they find a house that they love and they find out there are already five offers. They're confident that another house will come up. This was not happening last year and in the first quarter of this year. There was an urgency that if they didn’t buy this house there'd never be another house. That feeling is going away. You're going to start to see that shift as soon as buyers feel like they can wait for a better house or they can get a better deal when the market will subside.

3. Buyers are getting priced out of the market. They're becoming very sensitive to how expensive properties are. We are seeing home values over a 12-month period up 30%. Low interest rates cannot combat that price increase so I think that we will see the market level off. By no means am I predicting that there's going to be a market crash. The economics don't don't show that.

If your goal is to sell your home for the most money, with the most offers, in the shortest period of time, we're advising that you take advantage of this little window of opportunity that we have while we still can get multiple offers. I don't anticipate that to continue through the rest of the year. If you're a buyer in today's market, it's a fantastic time to jump back in. It’s less competitive, there are less offers per property, and we're not seeing a lot of contingency removals. If you're considering selling your home, do it this quarter. If you're interested in more information, visit us at homesbyelevate.com .

4 Keys to Moving Out of State Successfully

Thu, 03 Jun 2021 16:13:33 GMT

Here’s what you need to know if you plan on moving out of state.

If you’re moving out of state, here are the four points to remember to make sure you’re prepared for such a move:

1. Evaluate taxes. Where do you want to move, to lower your monthly spending? Do you want to move to a state that has no state income tax, or a state with low property taxes? This is important because when you’re calculating your monthly budget and expenses, living in a state with little or no state income tax can save you a lot of money. On average, clients of mine who’ve moved to states like Tennessee, Arizona, and Florida have saved 15% to 30% on their monthly spending. If you’re spending $5,000 per month to run your household in California and that drops to $2,500 after you move out of state, that’s huge savings (if your income doesn’t change).

2. Evaluate weather. Regarding the state they’re moving to, Californians typically ask one question first: “Does it snow or not?” Californians aren’t used to heavy snow (I know, we’re spoiled), so start with the weather and figure out where you want to go from there. South Carolina, North Carolina, Tennessee, Arizona, Florida, and certain parts of Oregon and Idaho all feature great weather.

"The sooner you meet with a team like us and give us the chance to prep and plan, the more seamless and streamlined your transaction will be."

3. Do your due diligence on the ground. You can help yourself a lot by reaching out to my team. We can sell real estate all over the country, and we have teams on the ground who are willing to meet with you a year in advance of when you want to buy. They’re not there to ‘sell’ you; they’re there to educate you on the local market. If you want to visit four locations, we can connect you with four agents to give you a hand.

4. Start early. The sooner you meet with a team like us and give us the chance to prep and plan, the more seamless and streamlined your transaction will be. The people who call me one month before their intended moving date tend to make a mess out of their move. If we can start planning your move three to six months in advance, we’ll have you visit your intended location and meet with one of our agents to get connected with the best communities. Meanwhile, we’ll keep an eye on inventory before we have to go to market and prepare for your home sale. It’s important to properly plan your move so you don’t have to live in temporary housing.

If you’d like to know more about moving out of state and the best states to move to, be sure to visit our blog. Also, stay tuned for my next video where I’ll talk about the top 10 states people are moving to. If you’re ready to sell now, visit our website or give me a call. I’d love to hear from you.

3 Things We Use To Get Your Offer Accepted

Mon, 10 May 2021 15:24:28 GMT

Here are three ways that you can differentiate your offer in this market.

You've been hearing stories for the last year that the market is competitive and that there are 30 or 100 offers on a home. I would say the average number of offers per home is somewhere between three and 10. It's a highly competitive market, but we're doing creative things to make sure our clients can win. You need to be a qualified buyer and you need to write great offers, but there are ways that we can differentiate your offer:

1. An escalation clause. Oftentimes, buyers are willing to pay a little bit more than what they're willing to offer the first go-round. If the property was $425,000, we could offer $415,000 with an escalation clause in the event there was another higher offer. We would increase the offer amount by $2,500 over the next highest offer up to $425,000. This is a great way to hedge in the event we think there's going to be multiple offers and we're not quite sure what the winning number will be.

"We're backing our clients’ offers."

2. Offering money towards appraisals if it comes in low. We're an appreciating market, so it's very difficult for the appraisers to come up with good comps to justify the values of what buyers are paying. Appraisers have to go back and justify their appraisal with comp data that’s 30 to 60 days old. The market is appreciating, so we offer money in the event the appraisal comes in low.

3. Cash-backed offer program. We're backing our clients’ offers so that it guarantees the seller that if they accept your offer, they're going to close on the agreed-upon time frame. Our cash-backed offer states that in the event you're not ready to close on the agreed day, we will still assign that contract to Elevate Realty Group and we'll close on the property on that day in cash to guarantee it to the seller. This program is exclusive to Elevate Realty Group clients, and it costs nothing, you just have to qualify with our partner lenders.

Those are the three best ways to differentiate your offer in this competitive market. If you're considering buying a home, reach out to us. If you're considering selling a home, it's still a fantastic market so give us a call at 916-436-SELL or visit our website at homesbyelevate.com . Have a great week.

Q1 Market Update With Historic Data

Wed, 21 Apr 2021 17:25:27 GMT

This first-quarter update contains historic data from our market.

Today I’m sharing our first-quarter market report about what’s happened in our real estate market so far this year. We all know our market is hot, but it’s currently scorching! The data I’m providing today is amazing.

From March 2020 to March 2021, property values increased by 20% across the board. The average yearly appreciation is typically around 4% to 5%, so 20% is ridiculous. Just between January and March of 2021, I would estimate we saw home values rise 10% to 15% because inventory is at record lows. Home values are expected to increase rapidly as we head into summer.

Most neighborhoods are seeing 60% to 100% fewer homes for sale , which means when houses do come onto the market, buyers are competing and writing crazy offers that set new pricing standards in the marketplace. Many people tell me they can’t be a cash buyer so they’re worried they can’t compete in this market, but only 16% to 18% of all sales are done in cash, and that’s high right now. The common number of cash sales is between 6% and 10%. In the last two weeks, we’ve seen double the number of properties come up for sale than in previous months in 2021, so we anticipate that the new homes coming onto the market will get slightly fewer showings and offers, and it’s a bit less competitive simply because there are more options. That’s a healthy thing for the marketplace.

"Home values are expected to increase rapidly as we head into summer."

If you’re considering selling, we’re in a sweet spot unlike any other time in history. You would be nuts not to look into what your house may sell for and how you could achieve your real estate goals in the present market. Don’t let this great opportunity pass.

If you’re thinking about buying a property, gear up. It’s especially tough in the market, but it’s still an excellent time to own a home because rates are still exceedingly low, and you have to pay for housing in some way, and rent is extremely expensive. If you’re looking to buy, just be patient and speak with us about some of the things we can do for you. These high property values won’t last, so stick with it.

Also, we recently released our Cash-Backed Offer program, which allows you to write offers to sellers and guarantee that you will close per your agreement. Even if something happens with the loan, Elevate Realty Group will buy that house in cash if you can’t close on time.

Reach out to us via phone or at our website if you want more information about our Cash-Backed Offer program, are interested in buying or selling, or just want to kick some ideas around about your real estate options. We would love to help you.

Our Top 3 Offers This Year

Tue, 06 Apr 2021 16:21:45 GMT

Here are the top three offers our sellers have accepted so far this year.

For the past six months, we’ve been encouraging our sellers to sell as soon as possible. So today I’m sharing the top three offers our sellers have received in the first quarter of 2021:

1. Elk Grove property No. 1. These homeowners asked us to do renovations and used our Concierge Program to do so. This home was valued at about $330,000 before repairs and ultimately sold for over $400,000 afterward. We received 16 offers for this house, and the winning offer gave the sellers $50 gift cards to BJ’s on top of no appraisal and $65,000 over asking price.

2. Roseville property. We listed this property for $725,000, which was the highest price per square foot ever listed. We acquired 13 offers, all over $850,000, and wound up accepting an offer that was $100,000 over asking price with no appraisal, and the buyer gave the seller 60 days of free rent-back time to look for their next home.

"We’re seeing some crazy offers."

3. Elk Grove property No. 2. We didn’t have access to this house and couldn’t show it, but we still procured 16 offers from buyers who didn’t see the home in person, all contingent upon them seeing the house after the offer was accepted. We obtained a few offers of almost $100,000 over asking price. In the end, the seller gets to stay in their home for two years, and six months of that rent-back is at a 50% discount.

If you’re considering selling, now is the time to do so. We’re seeing some crazy offers. Keep in mind that if you’re staying local, you’ll become a buyer in this market, but we can discuss some of the excellent programs we offer to make that move seamless. Currently nearly half of our clients are choosing to use our Concierge Program where we’ll renovate now and they’ll pay later.

Give us a call or visit our website if you want more information or have any questions. Also, keep an eye on your email throughout April because we’ll be giving away three months of free cleaning from our fantastic cleaning service. We hope you have an awesome spring!

Does It Make Sense for You to Sell to an iBuyer?

Mon, 08 Mar 2021 18:12:34 GMT

Should you sell to an iBuyer? Find out today.

Should you consider selling to an iBuyer? This is a great option for certain types of sellers. After all, Elevate Realty Group has a convenient offer program similar to what companies like Zillow and OpenDoor offer.

However, the first thing you need to remember about iBuyers is that the type of convenience they offer costs a lot of money. Their fee, which is basically a commission on the sale price, usually runs between 6% and 7%. Also, what they typically don’t tell you is that their offers are usually 2% to 3% below market value. If your home is worth $500,000, they’ll offer you $475,000 plus the 6% or 7% fee. Keep in mind that they also deduct the cost of any repairs. By the end of the transaction, we’ve found that sellers are paying 12% to 15% overall for that convenience.

"My team and I have never had a client who needed to sell their current home to buy another and not been able to move seamlessly."

So, who are iBuyers for? They’re for anyone entering a highly competitive market with enough equity to not care how much money they walk away with from their sale. If you need to sell your current home and buy your next one within 30 days, have no plan B, and are willing to pay a 50% premium to make that convenience happen, iBuyer programs are for you. We’ve had people in our area sell their homes to iBuyers and relocate out of state to hot marketplaces where multiple-offer situations are common. This works great for them because they can stay in their home after selling it, make an offer on their next home, and move comfortably.

There are alternatives to this approach, though, if you aren’t loaded with cash and can’t afford to pay double for what a home is worth. My team and I have never had a client who needed to sell their current home to buy another and wasn’t able to move seamlessly. Throughout hundreds of transactions, our clients have never had to opt for temporary housing. It is possible to list your home contingent on buying a replacement home within a 30- to 45-day window and pay half the cost of the iBuyer route.

If you are considering the iBuyer route, you owe it to yourself to reach out to us so we can review your situation. If selling to an iBuyer makes sense, we’ll tell you as much—we might even make an offer ourselves. Elevate Realty Group is here to present you with options, so if you have questions about this topic, visit our website or reach out to me personally. I’d love to hear from you.

10 Agent Interview Questions

Thu, 25 Feb 2021 17:54:09 GMT

These are the 10 questions we recommend asking when interviewing agents.

Today I’m sharing the top 10 questions to ask a real estate agent when interviewing them to help buy or sell a home. You need to interview at least two or three agents before hiring one because not all agents are the same. Use these questions to gauge whether they’re the right person to help with your needs:

1. How long have you been a real estate agent? Dave Ramsey suggests ensuring they have at least four years of experience.

2. How many transactions do you close per year? I believe this is the most important question you can ask. In real estate, we gain experience through transactions, and each one is different. To be considered a full-time agent, they should be selling at least 30 houses per year. If they’re selling only two to three homes per year, they don’t know much about what’s happening in the marketplace.

3. Who’s the primary point of contact I’ll be speaking with? This is crucial because you don’t want to be passed around to assistants or a bunch of different people.

4. What certifications do you have? Certifications are valuable, but they aren’t the only thing that relays the agent’s experience. What qualifies them as a great agent?

5. How will you help me buy or sell in this competitive market? This useful question will uncover many truths. If they have an immediate answer, they likely have experience, but if it sounds like fluff, they may not know the market very well.

6. What’s the fee? This is the second most important question to ask. What the house sells for is more important than the fee, but you do need to know how much value you’re receiving for that fee. Are they providing staging, cleaning, and/or decluttering help? Ensure you’re getting a great deal.

7. Do I have to sign a contract, and can I cancel it? Always make sure your contract can be canceled at any time with no fees.

8. How will you communicate with me? Will they reach out to you via texts, emails, or phone calls? They should communicate with you in the way that you want to be communicated with because this is ultimately your transaction.

9. How do you set realistic expectations? There are many agents out there, and some are not very honest. They could embellish things just to earn your business, so ask this question clearly.

10. Who can I call for a reference? On our team, we provide two to three references to every potential client so you can get honest feedback from people we’ve worked with recently.

This is just a quick breakdown of each question, so reach out to me by phone or email if you want more details or have any real estate questions. I would love to help you.

Moving out of state? Where do i start?

steve@homesbyelevate.com (Steve LaMothe) — Thu, 11 Feb 2021 15:50:57 GMT

Steve LaMothe's advice when considering a move out of state.... He's done it 100's of times!

"Im FED up with California... I'm moving out of state. "

I hear this comment more and more these days and post covid-19 it has become an absolute RUSH of people leaving the state. The common thread amongst them all is that they were actually not planning on their exit right now. What has caused so many to exit sooner than expected? Cue Covid-19 and CA shutdowns, it has strengthened their conviction to leave and not only that but employers have fully modified their stances on employees ability to work remote from anywhere! The VAST majority of moves since Covid have 100% been stimulated by Covid... Who would have thought? I anticipate this to become a real option for clients moving into 2021 and beyond and it's most certainly something to consider when you start thinking about your costs and quality of life.

This is our playbook for the great EXIT that we have succeeded so many times with. As an advisor it's important to me to do "more than" and to provide real value to our clients especially when undertaking a cross country move. From start to finish i want to help you walk in the shoes of people who have done this before and have fully succeeded and are LOVING IT! The craziest part.... Most are saving 10-25% on their yearly costs by moving WITHOUT sacrificing quality of life, these are not dumps they are moving to! So, you know you would like to entertain the idea but don't know where to start? Here is a blueprint. The great part about Elevate is that we have teams in almost every state in the country and have spent years studying, researching and building relationships in these areas so that our clients have on the ground people that they can trust. We streamline everything start to finish.

DECISION PHASE

STEP #1- DO THE MATH.

I am a financial guy, i like making the numbers fit and work. I highly suggest you look at what it actually costs you to live in california. Keep in mind it's not just "state taxes", ALL THE WAY down the list everything is more expensive in California. Gas, Groceries, your home insurance, car insurance, your HOA, water sewer garbage, literally EVERYTHING costs more. This is not anecdotal, i have reviewed monthly bills from multiple states with clients. Plain and simple CA is EXPENSIVE. It can cost upwards of 20-50% more when you add in housing costs to live in CA vs another state. So, step one find out what it costs you to stay because each day is opportunity cost.

STEP #2-WEATHER.

This is the BIG BIG hurdle i find with almost everyone. They say "i would LOVE to leave the state...BUT the weather". This is 100% true, we have amazing weather and it's absolutely gorgeous BUT are you willing to slave away working to have no time to enjoy that weather? What if there were other places that have great weather, beautiful landscape, and hand amazing quality of life by which you could like for almost 20% cheaper? You need to decide what climate you are Ok with, can you deal with "some" snow, Cold, humidity, ok with 6ft of snow, how about 200+ inches of rain OR my least favorite 100+ degree heat ALOT and zero rain. If there were any other states with CA weather i promise you with certainty California would be an empty place with millions less people.

STEP #3-YOUR BUDGET.

Of course, if we all had a million bucks we could select exactly where we want to go. Unfortunately for the rest of us, the budget will dictate much of our affordability and this typically directs us on where to direct the client. Most common budget to leave the state with is around 350-400k to purchase a home. The amazing part is, this buys A LOT OF HOUSE in most great locations in the country.... We will dig into this later.

STEP #4-WORK/FAMILY LIFE.

Another big hang up for most. I don't want to leave my family OR i can't leave and work from anywhere! Covid-19 has been the great equalizer here, many of our clients were not offered a work from home position but when they approached their company with the proposition the employers are so much more willing to offer this as a solution. Remember it's really hard for employers to find GREAT people so you have more power than you may think!

POPULAR STATES

Anecdotally here are the most popular states over the last 3 years we have moved people to. The great news is, Elevate has teams ACROSS the country and we can help you from start to finish here and in your replacement city!

#1- Idaho (by far the fastest growing in popularity) Known for great cities like Boise, Meridian, Nampa, Coeur d'Alene.

#2- Texas (You know Texas has been a go to for a long time) Austin has become less affordable, Check "hill country" outside austin, Killeen, Dallas.

#3- Arizona- Locations popular are Phoenix, Surprise.

#4- North and South Carolina- The most popular city in SC is Greenville (highly suggest googling it!)

#5- Tennessee- I believe this will move to the top spot in the next few years. TN is an INCREDIBLE city and has vibrant growth. Check out Memphis and Knoxville the pricing of homes are incredibly affordable and the quality of life is second to none.

Final Thoughts

The great CA exodus has ramped up dramatically and i do not anticipate this to slow down whatsoever with the increased cost of living and tax situation in California. Not one person "loves" having to leave their home state but they feel there are better opportunities for quality of life elsewhere.

I hope you find this article valuable. At Elevate Realty Group our mission is to "re-define the real estate experience" and when it comes to out of state relocation we 100% have created the most efficient process in the real estate space. From end to end we have this process dialed down to a science. Reach out to us today if you have any idea that you would like to try and move out of state, we have reams of information on how to do it!

Selling in the Spring vs. in the Summer

Thu, 04 Feb 2021 21:23:03 GMT

Are you better off selling during spring or summer? Today I have your answer.

Are you better off selling your home in the spring or summer?

Really, this question boils down to what inventory looks like at the time you put your home on the market. As of the recording of this video, inventory is down 60% compared to what we saw at this time in 2020. This is the best seller’s market I’ve ever seen. Between January 28 and January 29, my team and I had 55 showings for four homes that were just listed.

If you ask me, the difference between listing in the spring (i.e., February, March, and April) and listing in the summer is that you’ll see lower inventory in the spring. As we transition from spring to summer, we generally see a 10% to 20% monthly increase in available homes from March to August. The number of listings usually peaks in August as families get into the swing of the school season. In March, we typically see a surge of listings from sellers who are listing for the spring. We’ll see another surge of inventory in June as kids get out of school and families adjust their plans accordingly.

"We’ll have a scorching-hot market with low inventory and high demand during February, March, April, and May."

What will the rest of 2021 bring? It’s hard to say. Obviously, we didn’t see the normal seasonal sales cycle in 2020, but this year I think we’ll see low inventory until summer hits. In a nutshell, this means if you’re considering a move in 2021, you should list by June.

W e’ll have a scorching-hot market with low inventory and high demand during February, March, April, and May, so I urge you to do what you can to list your home by June at the latest. Once summer hits, more vaccinations will have been distributed and sellers who didn’t sell last year due to COVID will be putting their homes on the market. Therefore, inventory will increase.

That doesn’t mean we’ll have a bad market come summertime, but in my opinion, spring is a fantastic time to sell. How much better? Last month, one of my clients had 35 showings on their home in two days.

As always, if you have questions about this or any real estate topic or would like to list your home with the Elevate Realty Group, don’t hesitate to reach out to me. I’m happy to help.

The Parkway in Folsom.... Folsom's BEST KEPT secret!

steve@homesbyelevate.com (Steve LaMothe) — Wed, 27 Jan 2021 15:28:57 GMT

The Parkway is one of Folsom's premier neighborhoods. Steve LaMothe lives in the Parkway and share why he loves it so much and suggests it as a go to for anyone considering living in Folsom!

Steve LaMothe CEO of Elevate Realty Group lives in the Parkway in Folsom and took some time to help detail the key points that make the Parkway such a special place. The Parkway in Folsom in unlike any other neighborhood with its beautiful interconnected trails, many parks, and walking distance to almost every school as your children grow. The price points in the Parkway also allow for all scales of budget.

Homes in the Parkway Folsom range from 550,000 all the way up to 1,000,000. The median sales price is 680,000. The interesting point about the parkway is that there are different sections within it with different values and build quality. It can get confusing trying to understand why one home is more expensive than another and Elevate Realty Group is there to help you understand and make a good buying decision.

If you are considering buying a home in the Parkway or you own a home in the Parkway and are considering a move, you deserve it to yourself to speak with Steve LaMothe and Elevate Realty Group who is a true expert in the Parkway and the floorplans that make a big difference when it comes to negotiating!

Key Details of the parkway

30+ Miles of walking/bike trails that connect to the American River Bike Trail.
15 minute walk to Folsom Lake.
Many homes located in cul-de-sacs.
7+ parks walking distance.
Local pond within walking distance.
All levels of schools within walking distance or short drive.
Shopping and eating close within walking distance.
Extremely safe with security patrol.
HOA is on site and very responsive.
Beautiful scenery, trees are well grown and invested.
Great range for price range of homes.

Visit www.homesbyelevate.com Or call Steve personally at 916-862-5463

Folsom Ranch-The hottest neighborhood in Folsom.

steve@homesbyelevate.com (Steve LaMothe) — Fri, 15 Jan 2021 15:07:11 GMT

Folsom Ranch Neighborhood Information Video

Steve Lamothe the founder of Elevate Realty Group explains in this video some of the great features of what will be one of the largest master planned communities in the Sacramento region! Folsom ranch has launched and new owners are moving in, what can one expect in the future and what is coming to Folsom Ranch? Steve LaMothe breaks down some of the exciting things coming to Folsom Ranch.

Q: What’s Prop. 19, and Why Should I Care?

Tue, 12 Jan 2021 21:26:36 GMT

Here are the fast facts on a Prop. 19, a property tax law passed back in fall.

Proposition 19, which will officially take effect for Californian homeowners in February, is an important piece of property tax legislation that revises Proposition 13. If you’re unfamiliar with or confused about either law, don’t worry—you’re not alone. Though it’s a rather convoluted topic, today I’m doing my best to explain what Prop. 19 is and how it will affect the property taxes of senior homeowners all across the state, as well as their heirs.

In a nutshell, Proposition 13 protected seniors living on fixed incomes from rising property taxes by locking in their rates. The newly passed Prop. 19 is an effort by the government to expand the portability of their tax bases. Prior to Prop. 19, a senior Californian homeowner could only transfer their tax basis to a new property once; now, they can carry that basis with them anywhere in the state and do so up to three times before having to have their basis reassessed at the home’s current market value. The law is not without its drawbacks, however. To find out more about it affects inheritance, watch my latest video.

Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch it in its entirety or use these timestamps to browse specific points at your leisure:

0:10 — Some background info on Prop. 13, the property tax law that Prop. 19 amends

1:26 — How Prop. 19 addresses a portability problem among senior homeowners

2:30 —A major change with Prop. 19: You can transfer your tax basis up to three times

3:23 —Senior homeowners can now transfer their tax basis to any other county in California

4:00 —One of the biggest challenges of Prop. 19: new restrictions on tax basis inheritance

5:00 —Will these changes surrounding inheritance have the effect the government hopes for?

6:04 —Wrapping up today’s overview

Hopefully you found this to be a helpful explainer. I’m not a tax consultant, so I strongly recommend you reach out to one (or your trusted financial advisor). If you have any general Prop. 19 questions or 2021 real estate needs you want to discuss, please feel free to give me a call or send an email. I’d love to get the conversation started and put you on a track to home-buying or home-selling success.

Q: How Can You Double Up on Your Mortgage?

Tue, 15 Dec 2020 20:41:10 GMT

Here are simple, powerful ways to pay down your mortgage’s principal.

Today we’re exploring how you can double up on your mortgage and continue to pay down that principal to open up doors in your wealth-building journey via real estate. There are several strategies that we implement to make headway on your mortgage, many of which come from Dave Ramsey’s website. (I’m an endorsed local provider for Dave and a huge believer in his methods). I encourage you to check out his content, but here are the two key steps you should consider taking:

1. Make biweekly payments. This is a powerful tool that doesn’t cost you a lot of money. Be sure to call your lender first to make sure you can set this up, but essentially, here’s how it works: You take your mortgage payment plus your taxes and insurance and split it in half, making payments every two weeks. By doing this, you’ll end up making a whole extra payment at the end of the year—13 payments per year instead of 12. That will shave eight years off of your mortgage, saving you massive amounts of interest.

2. Make an extra mortgage payment toward the principal every quarter. Of course, this translates to making four additional payments every year. The best part about additional mortgage payments, though, is that 100% of that money goes straight to the principal. With this approach, you’ll shave 11 years off of your mortgage, once again saving you thousands of dollars in interest. You can take small steps, too; paying an extra $100 toward the principal regularly will do you favors in the long run.

"Strategically sacrificing some of today’s money will help you save thousands of dollars in interest in the long run."

I know we’re all wired to assign greater importance to short-term satisfaction and pain, but if you’re willing to strategically sacrifice an extra amount of money today, you’ll be able to position yourself nicely in the long-term journey of building wealth through real estate.

If you need anything as we move deeper into the holiday season, especially in light of the COVID-19 shutdowns, don’t hesitate to reach out to me via phone or email; I’d be happy to hear about your situation and see if I can help. Of course, if you know someone who’s looking to make a move soon, send them our way, and we’ll give them some refreshingly honest advice. I hope all of you have a wonderful Christmas , and if I don’t hear from you before year’s end, have a wonderful New Year’s, too!

Thank you for your support!

Tue, 24 Nov 2020 19:05:24 GMT

Wishing you a happy Thanksgiving

The 2020 holiday season has officially begun! We hope you are as excited as we are.

In 2 days and over 2,000 miles driven, we delivered 115 pies in three different counties! A huge shoutout to all those on my team who made this possible and to all of our clients over the years.

We’d like to take a moment to express our gratitude to all of you this Thanksgiving. We have met some truly wonderful people, and we’re proud to have helped so many reach their real estate goals over the years.

We wouldn’t be where we are today without all of your support.

Enjoy your Thanksgiving dinner—that’s what we plan to do!

In the meantime, please don’t hesitate to reach out to us if you have any real estate questions. We would be happy to help you.

Another CONCIERGE success story!

steve@homesbyelevate.com (Steve LaMothe) — Fri, 13 Nov 2020 16:28:27 GMT

It's too good to be true.... What's the CATCH??? We get this question often about our renovation program!

The CONCIERGE program... What is it? How does it work? Whats the catch??

NO CATCH it's an amazing program offered by Elevate Realty Group at NO COST to our clients to improve their ability to put more money in the pockets when it comes to selling their homes. Most people have "make-ready" costs when it comes to getting their homes ready for market. Often, they should or would make improvements like paint, carpet, flooring or updates but either cannot do it right now financially or just don't want the HEADACHE of handling it all. This is the beauty of what we offer as part of our normal service level to clients.

ENTER-Concierge program. Elevate has a decade of experience when it comes to selling homes, not only that but years of experience when it comes to renovating homes specifically for profit. We "flip" homes often and its certainly a skill to know what actually nets a return and what doesn't. We also have great purchasing power when it comes to contractors and vendors, rather than you dialing people at random that you have never used, we spend and refer MILLIONS of dollars to these vendors over the years and we get preferred pricing!

This specific example was a home in Antelope. It was in pretty good shape but it really needed a face lift with minor repairs, laminate floors, and paint. In the condition it was in it could have sold with ease, our estimate was 380,000 in as-is condition. Well Elevate provided $7,000 to our client to make the Renovation for paint, floors, minor fixes and fully managed the remodel, it took 1 WEEK.

RESULTS- because of the remodel the sales price of this home was $415,000 and the seller received 7 OFFERS! This was $15,000 over any comps in the neighborhood! This is $35,000 MORE THAN had they just listed the home, Pay out the $7,000 they owed in repairs and the seller walked away with AN ADDITIONAL $28,000 in the POCKET with no added stress or risk.

THIS IS AMAZING VALUE to the client that we offer for FREE. When considering hiring an agent think about this, there are no agents offering this service in the Sacramento region. We wont stop until EVERY possible person has the ability to work with us and utilize this amazing program.

Q: How Can You Build Wealth Through Real Estate?

Wed, 11 Nov 2020 21:07:04 GMT

Here’s an example of how real estate lets you build long-term wealth.

To help you understand how real estate can help you build wealth, let me propose this quick hypothetical to you.

Let’s say you have $40,000 to invest. Now, add compound interest into the mix—you may have heard your parents talk about this, and it’s truly one of the wonders of the world and one of the most powerful tools for building long-term savings. Imagine you put that $40,000 into the stock market at an average return of 6%. After 10 years, you’d have $71,633.

If you took that same amount of money and used it as a 10% down payment for a $400,000 home, you’d have a $400,000 asset earning 6% per year (real estate has appreciated at an average of 5% to 6% per year for the past 60 years). After 10 years, you’d have $716,000 worth of assets.

"Owning your primary residence forces you to save money long-term."

The craziest part about this is you’ve made 10 year’s worth of mortgage payments. If we put that number at about $240,000, half of that goes toward interest, and the other half goes toward the principal. Your loan balance after 10 years would probably be around $340,000. If you subtract that from the property value, you’re left with $300,000 to $400,000 in equity versus the $71,633 you’d get from investing in the stock market.

By no means am I saying you shouldn’t invest in the stock market—you can see some amazing returns by doing so. What I am saying is that you should own a primary residence instead of rent long-term because the former forces you to save money. In my next video, I’ll talk about the power of using your primary residence to build a portfolio of rentals. That’s when things get really interesting—when someone else makes your mortgage payment for you.

In the meantime, keep an eye on your mailbox because my team and I just sent out our Thanksgiving pie date order forms. Thanksgiving is right around the corner, and we support Say Pies, a local small business that makes the most amazing pies.

If you have any questions at all about this topic or are thinking of selling your home and taking advantage of one of the most powerful seller’s markets we’ve ever seen, don’t hesitate to call or email me. I’d love to speak with you.

Q: How Does Our Concierge Program Help Sellers?

Wed, 28 Oct 2020 16:35:04 GMT

Our Concierge Program lets you sell your home faster and for more money.

We’re the only real estate agents in our market that provide a Concierge Program, and I believe that every single seller should talk to us about it before going to market, and at least explore what the program offers as it compares to what other agents offer.

In a nutshell, the Concierge Program is a renovation loan that gives you money up front to improve your home. No matter what you need, be it a full remodel or just a general sprucing up, the program allows you to use our capital, time, and resources to do renovations before selling your home. This will lead to a sale that is faster, more lucrative, and less stressful. You’ll simply pay us back at closing.

The great thing about this program is that we're able to get better pricing than you will. We send over a quarter of a million dollars to our vendors every year between our flips, renovations, and referrals. We get a 20% to 30% discount from them, whereas you would probably have trouble trying to get someone to come out and meet you in today’s market. These guys are so busy that we get premier placement with scheduling and pricing. We also know what it will take to sell your home faster and for top dollar. We know which improvements have the best ROI so you can spend your money where it’s going to matter most.

"Everyone has the right to sell their home for top dollar and be the best house on the street."

Here’s a look at the process: You give us a call, and one of our listing agents will come out to assess the house. Then we’ll create a plan for renovations and get estimates on your behalf. We’ll coordinate the contractors and bids so that you don’t even have to touch it. We’ll present those bids to you and provide an ROI report. For example, we’ll tell you how much extra money the house will sell for if you spend $5,000 on improvements. This empowers sellers to compete in their market at no additional cost. Everyone has the right to sell their home for top dollar and be the best house on the street.

If you have any questions or would like more information, give us a call or visit www.HomesByElevate.com. In the meantime, be on the lookout in your mailboxes—we’re sending out the order form for our Thanksgiving Pie Giveaway!

Elevate's Newest Development Property-Convenience offer success story!

steve@homesbyelevate.com (Steve LaMothe) — Tue, 13 Oct 2020 16:51:07 GMT

Elevate just sold their newest development in Orangevale. This property was fully remodeled top to bottom and beautifully renovated. The seller of this property took advantage of Elevate Realty Group's "convenience offer" program because they wanted to purchase a home in Texas without a contingency. Elevate made an offer and closed 2 weeks later. The best part about it, the seller stayed in the home for 45 DAYS for no cost!!!

Our offers program is available to every seller. We provide a written offer with each appointment so you can decide what the best strategy is for you based on your goals.

Q: Which 4 Buyer Misconceptions Should You Be Mindful of?

Thu, 08 Oct 2020 21:27:07 GMT

Be mindful of these misconceptions when buying your first or second home.

Whether you’re buying your first home or an investment property, here are four misconceptions you need to be mindful of:

1. It’s too early to have a real estate agent. Whenever people start searching Zillow, Realtor.com, or any other real estate portal for suitable property, they often feel like they don’t quite need an agent yet. However, whenever they click on a home they like, that portal sells their information to some real estate agent who’ll hound them to death. That’s why I always recommend getting in touch with an agent three to six months in advance so they can connect you to the most accurate, detailed information straight from the MLS.

"I always recommend getting in touch with an agent three to six months in advance."

2. All you need is a down payment. Many buyers underestimate the costs of buying an investment property. In addition to the down payment, you’ll also need to cover the inspection and closing costs, which can be substantial based on your budget. Again, this is why it’s so important to meet with an agent three to six months in advance of your home search.

3. It’s a good idea to keep your options open. Many investors say something like, “I just want a 3-bedroom, 2-bath anywhere in Sacramento.” The problem is, there are about a million homes in Sacramento. My advice is to home in on two or three neighborhoods or ZIP codes based on your budget. Your agent will have on-the-ground knowledge of these neighborhoods and be able to steer you to the right location.

4. It’s a good idea to heed the advice of those around you. Whether you’re buying or selling, once you tell the people around you your plans, they’ll all offer their own advice. Be careful when processing this advice, because every buying and selling experience is different. If someone tells you what they think you should do, relay that advice to your agent and see what they think. Don’t assume that any advice given to you by someone else is correct.

No matter what your real estate goals are, I invite you to give my team and me a call so we can go to work for you and make a clear plan. If you have any other real estate questions, feel free to reach out to me as well, or visit our website. I look forward to hearing from you.

Q: What Are Some Tips to Help You Buy a Home?

Wed, 23 Sep 2020 18:32:04 GMT

These five tips will help you own a house sooner rather than later.

I’m passionate about educating and advising people to get into homeownership, so today I’m sharing five tips that will help you buy a house sooner:

1. Know how long you’ll be there. You need to know whether you’ll live in that home for five years or more. If you might live in the area for less than five years, it’s not long enough to build up equity and have enough money to sell the house again. Less than five years means you should rent and have more flexibility. Be honest with yourself about what your timeline may be.

2. Understand your budget. Know what your net take-home pay is after taxes. I recommend that under 35% should go toward your principal, interest, taxes, and insurance so you can afford all those supplementary costs it takes to own a home such as utilities and savings.

3. Talk to a lender. This means connecting with a local financial mortgage planner, not just a loan officer who tells you whether you’re approved or not. You should speak with an advisor that can best prepare you to own a property. Sometimes it takes six months to get your credit in a position to get the best interest rates. Sit down with someone early so you know the path to take. A plan from a lender helps you get to ownership quicker.

4. Down payment assistance. Maybe you’re not quite ready for a down payment financially. However, there are several options to help with this. Using down payment assistance means your interest rate will be higher, but you can buy a home with as low as zero funds. You don’t need a 20% down payment to buy a house. Also, you don’t need to worry about mortgage insurance long term, you can refinance out of it later. Your lender can go over all these things in more detail.

5. House hacking. Younger people are particularly interested in this. You can rent out a room or two in your home to offset the mortgage. This can also help you afford a better location.

If you have any questions about these tips or concerning real estate in general, reach out via phone or email. I would love to help you.

Also, we’re currently looking for two full-time administrative support staff members to join our team. This is an excellent opportunity, and there’s growth potential. So if you know anyone looking for an opportunity, please send them to our website here. We would love to hear from them.

Q: What’s Supercharging Our Sacramento Area Market?

Fri, 11 Sep 2020 19:01:41 GMT

Low interest rates and low inventory have created a white-hot seller’s market.

Who are the people buying homes right now? Despite so much unemployment and economic chaos, a lot of people are buying homes. August even set a new record for the number of buyers who transacted on real estate. Couple that with the lowest inventory levels we’ve seen in a decade, and you get a white-hot market with offers as high as $50,000 over asking price. Who should move forward in a market like this?

Watch the video above in its entirety to learn the answer. For your convenience, I’ve provided timestamps so you can skip to various sections at your leisure:

1:04—What buyers are saving by taking advantage of low interest rates

2:05—Why the numbers make sense for first-time buyers

3:46—Why affordability has created the best seller’s market of my life and one of the best buyer’s markets

4:33—A deeper analysis of what you’d save by buying now

5:31—How our consultations work

5:59—Wrapping things up

As always, if you have questions about this or any real estate topic or are thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’m happy to help.

Q: How Can You Find the Right House Without Using a Contingency?

Mon, 24 Aug 2020 15:36:04 GMT

If you need to buy and sell, you don’t have to use a contingent offer.

So you’d like to move, but you’re not sure you’ll find the right house at the right time after you sell. There are some amazing options we’ve been using with success that don’t involve listing your house as contingent and trying to buy and sell at the same time. If you’re looking for something specific in this market or something a lot of other buyers are looking for, this can be challenging.

Here are four ways you can buy a home without using a contingency in our competitive market:

1. A recast. With this option, you’ll first buy with a low down payment (5% to 10%) and close on your new house. Then, once you sell, you’ll place all of the equity you were originally going to use after the fact. You don’t refinance; you just make one lump principal payment and lower your monthly payment without refinancing. It would only cost you $350 with our lender, and if you have enough saved up for the low down payment, you’re a great candidate for this loan.

2. The iBuyer or instant offer approach. This would entail selling your home for cash now and staying in it for 30 to 60 days to have some time to submit non-contingent offers. This is a very expensive option, but it grants you a level of certainty if you’re confident you can close on your intended house within 60 to 90 days. The catch is that once that 60- to 90-day period is up, you have to move.

Don’t let the fear of not being able to buy the right house at the right time stop you from making your move.

3. A trade-in program . This is an option the Elevate Realty Group provides. We’ll make a cash offer for you if the right house appears and charge a small service fee (usually 3%). The good news is that we can get a 5% to 6% discount because it’s a cash offer with no contingencies. You’ll be able to compete at the highest level, even in multiple-offer situations. Once we close on the house, you move in and make a monthly rent payment until we sell the house and you refinance and purchase it once both transactions are done.

4. A bridge loan. With this option, you’re basically pulling a home equity line of credit on your current home and buying your next one. The challenge, though, is that you have two mortgages to pay. These are hard to obtain in our current environment, and it only works for buyers who have stellar credit and good equity in their current home.

Don’t let the fear of not being able to buy the right house at the right time stop you from making your move. If you’re curious about this or any real estate topic and would like to know more, don’t hesitate to reach out to me. I’d love to speak with you.

Q: How Do I Net Top Dollar For My Home and Simplify My Move?

Thu, 30 Jul 2020 17:34:12 GMT

Here are four great tips for any home sellers out there.

I'm here today to answer the common question: How do I net top dollar for my home and simplify my move in the process? There are four key tips that I recommend.

Here’s an outline of the full video, with timestamps so that you can skip around to the section(s) that interest you the most:

0:34- Step No. 1: Call an excellent real estate agent

2:05- Step No. 2: Have a home inspection

3:35- Step No. 3: Decide which repairs or renovations to make (if any)

5:05- Step No. 4: Prepping, staging, and decluttering for showings

6:35- Wrapping things up

If you have any questions for me about today’s video, selling your home, or real estate in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.

These Market Stats Will Make History!

Mon, 20 Jul 2020 21:41:15 GMT

Here’s what you need to know about our crazy real estate market.

I was reviewing the latest real estate numbers from June and was amazed at what I saw. We haven’t given you an update in a while, so I wanted to take a few minutes to explain what we’re seeing.

In June, we saw more pending sales than we’ve seen in over six years! At the same time, inventory is at a 10-year low. It’s the perfect storm for a fast-paced seller’s market. If you’ve been considering selling your home in the next year or two, it behooves you to at least explore your options.

It is a struggle for buyers out there. Most homes priced under $650,000 are seeing multiple offers and things are wildly competitive. However, we have some great ideas to help you compete. Reach out to us to learn more.

Inventory is at a 10-year low.

What’s been driving this market is record-low interest rates. They keep getting lower and lower. We’ve been locking in rates under 3% and keep hitting record lows for 30-year fixed rates every week. Even amid all the uncertainty with the economy and the pandemic, we’re still seeing buyers and sellers out there who are eager to take advantage of current conditions.

If you or anyone you know is thinking about buying or selling a home, don’t hesitate to reach out via phone or email today. I look forward to hearing from you.

Q: What Makes the Elevate Realty Group Unique?

Mon, 13 Jul 2020 15:51:46 GMT

Here’s how the Elevate Realty Group is redefining real estate.

What makes the Elevate Realty Group unique?

This company was founded on one mission: to redefine the real estate experience for our clients. For years and years, you had one option—pay a 6% commission. When the dust settled, many people felt like they’d left a huge chunk of equity on the table and wondered what they got for it. I never want our clients feeling this way. With our innovative home selling options, we’re changing the real estate game in the Sacramento region.

For example, our Convenience Offer Program puts the control back in your hands. You select when to close and move out. You can even stay in the home for 30 days after closing so you can make moving arrangements or have time to buy your next home.

Our Concierge Program is a free service that covers your renovation costs (up to $25,000). Everyone deserves the right to have the best home in the neighborhood and maximize its value so they can put more money in their pocket, and that’s what this program is for. All you have to do is pay us back at closing. The best part is that you don’t have to do a single thing. We’ll coordinate our vendors and get discounts at our pricing. This is a fantastic option for anyone looking to put the finishing touches on their property before listing, and it will help you move quicker.

We handle marketing, offer innovative options, and deliver transparency like no one else.

All of our listings are also offered with a one-year Love It or Leave It Program, which is designed to differentiate your home from the sea of other homes up for sale. Anything we can do to make your home unique, we’ll do.

Whether you take a newer, innovative approach to selling your home or listing it with a traditional 12-step marketing program, we spend over $100,000 per year on marketing, which benefits you by providing mass exposure. There are over 8,000 buyers in our database looking for properties, and what sets us apart is that we handle marketing, offer innovative options, and deliver transparency like no one else.

We’ve built our own platform so our clients receive a daily report showing them what happened with their property, what the showing feedback indicates, and where the marketing goes. The No. 1 complaint in real estate is lack of communication or follow-through, but with our innovative technology, you always know where you stand in the process.

We’ve never had a client reach out to us and say, “What’s going on?” because they get a daily report. With our experience negotiating thousands of transactions, we know what it takes to sell a home, and we hope to work with you, your friends, or family soon. If you’ve heard us on ANG, KFBK, or The Dave Ramsey Show, please let us know. We’ve been partners with them for a long time, and they don’t put their name on a company unless it delivers a fantastic service.

If you have any other real estate questions, feel free to give us a shout as well. We look forward to hearing from you.

Q: Why Do Transactions Fall Out of Escrow?

Wed, 01 Jul 2020 15:45:29 GMT

No buyer or seller wants to go into escrow only to see the transaction fall out of escrow a week later. That’s a waste of time for all parties involved. I’ve been a part of thousands of transactions, and one thing I’ve learned is that most cancelations can be prevented with proper planning and execution up front. To help you prepare for your next home sale or purchase so that it goes off without a hitch, I’ll share the top five reasons transactions fall out of escrow.

0:32—Reason No. 1: The buyer is moving too fast

1:26—Reason No. 2: Repairs

2:50—Reason No. 3: Appraisals

3:49—Reason No. 4: Emotions

4:46—Reason No. 5: Unwilling people

5:56—Wrapping things up

As always, if you have questions about this or any real estate topic, don’t hesitate to reach out to me. I’m happy to help.

Are Home Values Going Down?

Mon, 01 Jun 2020 15:41:27 GMT

I want to give you a balanced update on the Sacramento real estate situation.

Of course, there’s the elephant in the room:

The coronavirus pandemic has had a massive effect on the entire economy, and that includes the real estate market.

Health concerns and rules about social distancing have led some sellers to withdraw their homes from the market, and fewer buyers to schedule showings.

The recent volatility in the stock market is causing additional trouble.

And perhaps most importantly, there is the uncertainty about the future as the coronavirus situation plays out day by day.

That’s the bad news.

The good news is that we are collectively beginning to adapt to this unprecedented situation in some encouraging ways.

In the real estate market, many agents are starting to offer virtual showings to reduce person-to-person contact.

This allows buyers to make a more informed decision about the property and whether to get out and go see it.

Showings are still going on , just with much higher regard to safety and proper social distancing.

And yes, even if we can’t shake hands on it, homes around Sacramento are still being sold.

In fact, some buyers are more eager to buy now than ever. That might sound surprising, but it’s simple economics.

The 30-year fixed mortgage rate recently hit 3.29%, the lowest on record since tracking started almost 50 years ago. This kind of low mortgage rate can take tens of thousands of dollars off the effective price of a property, once interest payments are factored in.

The massive government stimulus package has given many people hope that the economic impact of corona virus will be contained.

Finally, once we emerge from this situation, there is reason for optimism.

Unlike previous drops in home sales, like during the subprime mortgage crisis, this is not expected to last nearly as long. Demand for housing was especially strong before the coronavirus hit, and much of this demand is still there.

What is undeniable is that we are in a unique situation, and rules are changing each day.

Here are some graphics to show that this market is nothing like 2008:

If I can help you in any way — whether with real estate advice or with anything else — give me a call at 916-862-5463 at any time. If the current situation is showing us anything, it’s that we need to work to help each other however we can, and so I want you to know I’m here for you.

Clarifying the Contents of the Stimulus Bill

Mon, 01 Jun 2020 15:36:10 GMT

The government recently passed a $2-trillion stimulus package that will help individuals and businesses impacted by the pandemic. Today I’ll clarify a few details of the bill.

The recent stimulus package from the federal government is twice as large as the stimulus that was put together during the 2008 crisis. More importantly, it adds an extra $600 to your unemployment benefits if you lose your income. That should help people over the next four to eight weeks as we move through this health crisis.

We’ve also been hearing rumblings of private companies that are waiving co-pays or covering all the costs for those who are medically impacted by the coronavirus, which is fantastic.

Concerning your mortgage payment or rent: Many people are floating between three and 12 months of forbearances—be very careful and speak with a professional before you stop making mortgage or rent payments. I do know that many landlords are giving 30- to 60-day grace periods on rent; this varies by state, so call your landlord and be honest with them about your financial situation. We’re all in this boat together, and I’m sure that they would rather accept some rent than none.

Speak with a professional before you stop making mortgage or rent payments.

If you’re the owner of a small business or an independent contractor, some huge programs are coming down the pipeline. If you need a good CPA to advise you, I can refer you to one. The Small Business Administration has $350 billion in their coffers to push into small businesses. Since 80% of us work for small businesses, it’s a big deal for them to provide loans to cover payroll, rent, and 250% of your costs. If you keep your employees on staff, the loan will be forgiven after eight weeks.

Now, as far as the Sacramento area, our real estate market is still moving right along; we’re putting houses on the market and receiving offers. Homes under $500,000 are still selling quickly. Unfortunately, due to job losses, we are seeing some escrows fall out, but still: 50% of the homes coming onto the market are getting multiple offers.

So if you need to buy or sell a home, don’t worry. We can meet over the phone or via video conference and discuss the best path forward. Additionally, if you need anything at all during these complex times, don’t hesitate to reach out to us. We’re all in this together.

No Matter What Happens, We’re Ready for It

Mon, 01 Jun 2020 15:33:33 GMT

What does the coronavirus pandemic mean for our real estate market? The news is changing all the time, and there’s no telling what will happen moving forward, but the good news is, we’re ready for it. The Elevate Realty Group was founded on the principle of being a tech-enabled team. We were built for this, and we focus on creating seamless experiences for both buyer and seller by providing the following:

A clear, online communication portal where you can watch the progression of your transaction in real time
Virtual updates via phone/video chat
Virtual meetings via phone/video chat
Agents who will personally preview homes so you don’t have to
Live video tours of properties for those who cannot attend
4k video walk-through previews of all homes
A team to come and wipe down surfaces after showings
Complimentary staging/cleaning

To find out more about how we’re adjusting to the market to best suit your needs, watch this short video.

What Impact Will the Coronavirus Have on Our Local Real Estate Market?

Mon, 01 Jun 2020 15:32:06 GMT

What kind of impact will the coronavirus have on our real estate market? Here’s what I’ve been seeing lately.

The Coronavirus has had a major impact on our economy at large, but what kind of impact will it have on our local real estate market?

For starters, the Federal Reserve lowered the prime interest rate by 0.5%, the biggest reduction since the recession of 2008. Interest rates are as low as they have ever been, which is driving even more buyers into the market.

We’re also seeing record-low inventory. There are 20% to 30% fewer homes available than there were last March to go along with the already low interest rates.

There is a lot of urgency among buyers and sellers.

If we continue to see this kind of volatility in the stock market, we might start to see some fatigue and more and more people will hunker down instead of buying and selling. If you want to buy a home this year, there’s no time like the present. You’ll want to push up your timeline before things shut down even further due to the virus. With interest rates at an all-time low and demand still very high, now is the time to do so.

We’re definitely continuing to see a lot of showing activity, but we’re also seeing a lot of urgency among buyers and sellers alike. I believe that we’ll see a greater impact in the higher price points at first.

I don’t think there is anything to fear in the long term, but I am being cautious. IF we continue to see the Coronavirus spread and the stock market continues to tighten, we’ll start to see the real estate market slowdown from where it’s at now.

A little side note: March 29 will be our next client event, Portraits in the Park. Text “elevateevents” to 59559 if you’d like to sign up to get you/your family’s portrait taken.

If you have any questions for me about the market or about real estate in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.

You’re invited to Portraits in the Park

Mon, 01 Jun 2020 15:30:12 GMT

We’re excited to share our first of four 2020 client events: Portraits in the Park. Here’s everything you need to know.

Are you ready for our next exciting Elevate event? Our first-ever Portraits in the Park event will be held from 9:30 a.m. to 2 p.m. on Saturday, March 28, at Tempo Park in Fair Oaks . We’ve hired a stellar professional photographer who’s agreed to give us 15-minute blocks to take your immediate or entire extended family portraits.

Reserve your slot now, because they’ll fill up fast. Text “elevateevents” to 59559 for details. In response, you’ll be dropped a link for time slot reservations. If all else fails, you can call or email me and we’ll get you on the list.

Reserve your slot now, because they’ll fill up fast.

This is the first of four events we have planned for this year. Bring your family and friends—maybe even your dog if you don’t have little ones! We do these events because we’re really appreciative of your business and support.

Our next event will be in July, where we’ll be renting out a movie theater. On behalf of my entire team, thank you for everything you do for us, and we’re looking forward to seeing you at Portraits in the Park!

If you ever have any questions about real estate, please reach out to us via phone or email. We would be glad to help you.

How to Make a Contingent Move Without Getting Stuck Without a Home

Mon, 01 Jun 2020 15:28:05 GMT

A contingent move can be made successfully as long as you know how the process should go.

I’m sure you’ve seen ads out there that tell you a contingent sale is too hard and won’t work. We are experts at this process, so today we’d like to talk about the three steps to consider before deciding to make a contingent home sale and purchase:

1. Find out how much you’ll walk away with . Then we take that budget and figure out what your top-end budget is for your new home. Whether you’re moving up or down, we want to know what type of home you can afford to move to next.

2. Get pre-qualified, underwritten, and approved. Getting full loan approval before beginning your home search signals that we can start looking for a replacement home without delays. Before we start looking in earnest, we want to know if we can find a home that you like in your budget. If it’s on the market today, it will be on the market in the future. Once we’ve taken care of that, we’re confident enough to move to step three.

3. Start getting your current home ready. Once the first two boxes have been checked, it’s time to start getting the home ready to list contingent on your replacement home. No seller in today’s environment is going to entertain a contingent offer until your current home is already under contract. Listing with a contingency allows us to minimize your risk of ending up without a home at all. Buyers typically will give a contingent seller a month or two to find a replacement home, and it’s extremely rare that we don’t find the right fit in that time.

Where we see most problems arise is when people list without a clear plan. They just list the home without a contingency. Uncommunicated expectations are disappointments waiting to happen, and we see inexperienced agents skip steps all the time.

The most cost-effective way of listing contingent is with a traditional Realtor. With an instant offer program, you’ll end up paying twice or three times as much as you would with a traditional agent. Half of our team’s sales are contingent, and we’d be happy to help you with the process as well.

If you have any questions for us or need our help, feel free to reach out via phone or email. We look forward to hearing from you soon.

Exciting Market Predictions for 2020

Mon, 01 Jun 2020 15:26:54 GMT

Here are my predictions for the housing market and overall economy for 2020.

I don’t have a crystal ball to tell me exactly what’s going to happen in 2020 (if I did, I probably wouldn’t share that information with everyone) but I do anticipate a fantastic market, similar to that of 2019. Record-low interest rates and inventory will likely continue; they’re not building enough new homes for the amount of buyer demand in our market.

I predict, at least through the spring, that we’ll see really low inventory and high buyer demand driven by low interest rates. We’re currently locking in rates somewhere around 3.5%. That means that someone who’s buying now in the first quarter of 2020 will have saved $100 to $200 more than someone who bought during the same time last year.

Because we’re seeing so many multiple-offer situations, prices in many markets will be driven up. I don’t foresee much change in regard to the overall economy; it’s an election year, so politicians tend not to push any buttons or make drastic changes.

2020 is truly primed to be a great market for both buyers and sellers. Sellers, you probably already realize that the scarce inventory leads to less competition for you on the market. You can get away with selling a home that may need fixes or is less than pristine condition.

Now, if I were a buyer in today’s market, especially a first-time buyer who’s paying more than $1,600 in rent, I’d sit down with a mortgage advisor and create a plan to act soon. Right now, those low rates make the affordability factor of home ownership attractive when compared to renting.

The economy should chug along on nicely, so long as we don’t see any geopolitical tension pop up. The Iranian missile crisis is actually what stimulated our market in January, bringing interest rates down by another quarter point or so.

I hope you found this information enlightening. Our goal is to elevate the client experience, and we don’t take that lightly. We’re focused on bringing professionalism back to this profession, because it’s not always there.

If you have any questions for us about our 2020 predictions, or real estate in general, feel free to reach out by phone or email. We’d love to hear from you.

2019 Real Estate Market Recap

Mon, 01 Jun 2020 15:22:12 GMT

I’m discussing the numbers from our 2019 real estate market and what that means for us in 2020.

How did our overall real estate market fare in 2019? There are three key indicators of whether the real estate market is healthy or not: jobs, income, and interest rates.

Unemployment remains at a 60-year low, right around 3.5%. Incomes have continued to rise over the last two years at a 3.5% rate for 2019. The main indicator of a healthy market, interest rates, have remained low as well, at about 3.5% to 4%. This means buyers can afford more home at a more affordable price.

Our local real estate market was strong in 2019. We saw appreciation rates in Sacramento, Placer, and El Dorado counties at around 4%. Our average days on market was nearing 38 days. The average sales price for the region was around $376,000.

There are three key indicators of whether the real estate market is healthy or not: jobs, income, and interest rates.

All of these numbers indicate a healthy market right now. We anticipate that this will continue in 2020. Most of our seller clients have been moving out of state to less expensive areas and most of our buyers have been coming here from more expensive areas throughout California. Our market is currently great for both buyers and sellers; it’s a balanced market.

As always, if you’re considering making a move and would like an instant home value or want to search available homes for sale on the MLS, visit our website. We appreciate all your support. If you have further questions about our market or real estate in general, feel free to reach out to us via phone or email. We would love to help you.

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Inventory Is Still Increasing in Sacramento!

What the HECK Is Going On With Sacramento’s Real Estate Market?

Why 2025 Is the Best Time To Buy a Home in 3 Years

2025 Sacramento Real Estate Mid-Year Market Update

How We Transformed This Bedroom Into Every Little Boy’s Dream Space

How clients are utilizing our elevate concierge renovation program to pocket 20-40k in profit over the traditional agent!

Elevate's concierge program is putting MILLIONS of dollars in customers pockets!

Transform Your Sacramento Home with Elevate’s Concierge Program

What Is the Elevate Concierge Program?

Why Choose Elevate’s Concierge Program?

Real Client Success: The Johnson Family

Is the Concierge Program Right for You?

Get Started Today

How Our Concierge Program Makes Home-Selling Easier

The Concierge Program simplifies selling for clients dealing with important life events like weddings and family responsibilities.

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Debbie's experience:

Judy’s experience: Watch it here!

Why Stock Market Dips Shouldn’t Stop You from Buying a Home

"Even though a major crash could impact decisions, smaller stock market dips are common and don’t mean home values are at risk."

What Prop 19 Means for Homeowners Looking to Relocate in California

"Prop 19 provides the flexibility to move without facing a massive tax increase."

5 Reasons Behind Skyrocketing Home Insurance Costs

"If premiums become unaffordable, it could cool off the housing market in high-risk areas. "

What Lower Interest Rates Mean for Buyers and Sellers

"Rates will likely continue fluctuating, but the overall trend seems to be moving in a positive direction."

How Does Private Mortgage Insurance Affect Homebuyers?

"It’s quicker and easier to manage PMI than to wait until you’ve saved up a full 20% down payment for your home."

Must-Know Real Estate Trends for Homebuyers in 2025

"Waiting will hinder your net worth and economic security."

What Repairs Are Home Sellers Obligated To Make?

What Do Experts Forecast for the 2025 Housing Market?

The Best Way To Strategically Price Your Home for Sale

Top 3 Reasons Buyers Cancel Escrow in 2024

"Buyer’s remorse, repair issues, and appraisal discrepancies are the top reasons deals fall through in 2024."

Interest Rates Update: What Homebuyers Need to Know

"Bad news for the economy often means good news for interest rates—now might be the right time to buy or refinance."

Good News! Interest Rates Have Peaked

"I believe we’ll see rates drop below 7% within the next six to 12 months."

Biggest Change in 3 Years Headed to the Market

"With more homes available, there’s less competition and better opportunities to negotiate."

Where Are Californians Going When They Move Out of State?

"We’ve helped hundreds of clients move in and out of state seamlessly over the years."

Projections and Predictions For The Future of Our Real Estate Market

A Guide To Choosing the Perfect Agent to Help You This Spring

Unpacking the NAR Settlement: What It Means for You

The top 10 things to do in Folsom!

All things Folsom! Elevate is your Folsom real estate experts!

1. Folsom Lake State Recreation Area

2. Historic Folsom

3. Folsom City Zoo Sanctuary

4. Folsom Prison Museum

5. Folsom Premium Outlets

6. Lake Natoma

7. Folsom Powerhouse State Historic Park

8. Harris Center for the Arts

9. Folsom Valley Railway

10. American River Bike Trail (Jedediah Smith Memorial Trail)

Why Waiting To Buy a Home Could Cost You in the Long Run

"Your primary residence gains value as an investment over time."

The Impact of Rising Mortgage Rates on Buyers and Sellers

"Whether you're looking to buy or sell, the key is to stay informed and prepared for the market's fluctuations."

Elevate Concierge: A Stress-Free Property Transformation Process

"The concierge program is not just a promise; it's a proven reality."

Sell Smarter, Not Harder: The Art of Strategic Home Renovations

The Latest News on Interest Rates and Our Housing Market

"It’s important not to give in to the hype."

Navigating Repair Negotiations in Real Estate Transactions

Maximize Your Savings: 3 Proven Strategies for Financial Growth