How to buy your first home even though its "expensive" in Folsom

The 21st Century ROAD to Housing Act is now law. Here are the five points that actually matter, and the one change that could really move housing prices. The federal housing bill everyone has been talking about, the 21st Century ROAD to Housing Act, has now become law . When I recorded this video, it had passed Congress and was awaiting the president's action, and it has since taken effect without his signature. And there's a lot of misinformation out there about what it actually does. I'm a data guy. I want to cut through the noise and give you the five key points that actually matter, because I think this bill does some meaningful things, and it's worth understanding what's real and what's just politics. 1. Corporate ownership limits are mostly political. This is the provision that gets all the headlines. The bill limits large institutional investors from purchasing single-family homes once they own 350 or more. And look, it sounds good. But here's the reality. Corporate ownership of housing is less than 5% of the entire market. Over the last two years, institutional investors have largely stopped buying homes because interest rates are so high that rental income no longer justifies the investment. They bought a lot of homes during COVID, but right now it's no longer an issue. So in my opinion, the corporate ownership piece is purely a political move. It makes people feel better, but it doesn't address the problem driving up housing prices. 2. Modular and manufactured housing get a boost. This one is big and doesn't get enough attention. The bill loosens some of the restrictions on modular and manufactured housing. Previously, you needed a permanent foundation for a modular home to be considered a single-family residence. They're relaxing that requirement, which makes affordable, factory-built housing easier and cheaper to bring to market. That's a meaningful change. " The real fix for housing affordability has always been the same: make it easier and cheaper to build homes. " 3. States face pressure to build more. Here's the provision I think matters most. The bill puts pressure on states like California to loosen their building restrictions or risk losing federal funding. In my opinion, nationwide, this is the number one issue causing housing prices to go up. It's just too expensive, too hard, and takes too long to build homes. When builders have to spend so much money just to put a foundation in the ground, they can't build entry-level or mid-tier homes and make their money back. So they build higher-end homes instead. That's why we have an affordability crisis. It's not corporate investors. It's the cost and timeline of building. 4. Small-dollar mortgages get easier. Loans under $200,000 are going to become easier to obtain. Right now, many lenders don't want to make those loans because there's little profit in them. The federal government is easing some requirements and making it easier for buyers to access lower-cost financing. That's a real win for first-time buyers and buyers in more affordable markets who've been locked out of traditional lending. 5. New construction gets streamlined. If you want to build a development in California, the planning process can take 10 to 15 years. I've seen it firsthand. A big development in Folsom started planning 15 years ago. It took a decade just to get plans approved, do the environmental studies, and jump through all the hoops. If it takes you 10 to 15 years and you buy a piece of land to build on, the economy is completely different by the time you get a return. Very few people are willing to take that kind of risk. The bill aims to streamline and speed up that process, and if it actually reduces red tape, that's going to be fantastic over the next five years. That's where we'll start to see housing prices genuinely soften, especially in markets where inventory has been crunched for years. What it all means. In general, this law does a lot of good. The modular housing changes, the building pressure on states, the small-dollar mortgage access, and the construction streamlining are all meaningful. The corporate ownership provision is mostly window dressing. The real fix for housing affordability has always been the same: make it easier and cheaper to build homes. This bill takes some steps in that direction, and that's worth paying attention to. If you're thinking about buying or selling and you're wondering how any of this affects your situation, give me a call at (916) 862-5463 , email me at Steve@homesbyelevate.com , or visit homesbyelevate.com . I'd love to break down the numbers for you.

Folsom sellers who improve their home before listing often capture far more profit than the repairs cost.

New Right now, thousands of Folsom homeowners are typing the same question into Google: "What is my home worth?" And thousands more are on Reddit, Nextdoor, and real estate forums asking some version of: "Should I sell now, wait, fix it up first, or just take a cash offer and be done with it?"

Discover the top 3 reasons home sales fall through in Folsom, CA — and how Elevate Realty Group's exclusive programs protect your sale from start to close.

In today's market, a lot of homes simply aren't selling. The ones that do are the ones that show ready and priced right. Here's how to make sure yours is one of them. It's one of the most important things you can do when selling a house. Think of it like a car. You fix it up and detail it before you sell it, and you get a better price. The same principle applies to your home, and in today's market, it matters even more than it used to. Why today's rate environment changes the equation. With interest rates around 7% right now, buyers are stretching to put down as much as they can just to keep their monthly payments manageable. The loan balances are expensive to carry. So when a buyer walks into a home that needs $40,000 in work, whether that's flooring, paint, dry rot repair, whatever it is, that $40,000 has to come from somewhere. And most of the time, it comes right out of their down payment. When a buyer has to take $40,000 of their own cash and put it toward repairs instead of their down payment, their monthly payment goes up by $700 to $1,000. That's not a small number. That's the difference between a buyer who can afford your home and one who walks away. There are really two ways sellers lose when they skip the renovation. Buyers aren't going to offer you what you think the house is worth. They just can't afford to. Making repairs with their own cash is expensive and directly affects what they can afford for the home. The money for repairs comes right out of the money they have available for the purchase. You lose control of the cost. If you don't handle the repairs upfront, you're leaving yourself open to whatever the buyer thinks the costs are. And here's the reality. If I'm representing a buyer and we're looking at a house that needs a lot of work, we're always going to ask for more money than we think the repairs will cost, just in case there are things we don't know about yet. That's standard. So, as the seller, you end up paying inflated prices through buyer credits that you could have controlled for less by doing the work yourself upfront. How our concierge program changes the math. This is exactly why we built our concierge program. With over 900 sales and 16 years of vetting contractors, I've built a network of vendors who offer wholesale pricing because we send them consistent volume. We've tracked results across all those projects, and our sellers have received over $7 million in increased equity by making the repairs before listing. That's not an overpromise. That's data from 900 transactions. " If you don't control the cost of repairs upfront, the buyer will, and they always ask for more. " And here's how it actually works. When you work with us, you don't have to interview half a dozen painting companies and hope they show up. I've already done that over a 16-year career. We constantly cut vendors who don't answer the phone, don't offer good pricing, or don't do quality work. We shop out our estimates to hold people accountable. We introduce you to multiple vendors so nobody gets comfortable. And because we're their biggest source of business, when something goes wrong, and something always does, I make one call and they're there in the morning. That's the kind of accountability a regular homeowner just doesn't have. We're also renegotiating with vendors right now because the post-COVID price inflation is easing. Contractors want to be busy. They're not as booked as they were two years ago. So we're getting better deals, and those savings go straight to you. Why most sellers don't do it and why that's a mistake. For most people, the reason comes down to one of two things. Either they don't want to deal with the hassle of finding and managing contractors, or they think they can't afford to make the repairs. The hassle part is what we solve. Estimates within two days. Work starts within two to three days after you approve a vendor. My commitment is that we get this done twice as fast as you could on your own. We're not saying you can't do it yourself. You absolutely can. But you'll usually pay more, and it'll take a lot longer. When you run the numbers, using our program is almost free because the extra equity you gain far outweighs the cost of the repairs. The risk of doing nothing. About 30% of homes in today's market are not selling. If you throw your house on the market in poor condition and it's not priced right, there's a real chance it just sits. Your goals aren't achieved. You've gotten the dog and the kids out of the house for three months of showings, and you have nothing to show for it. That's not a risk worth taking when the solution is right in front of you. If you're thinking about selling and you want to know which repairs would actually move the needle on your home's value, give me a call at (916) 862-5463 , email me at Steve@homesbyelevate.com , or visit homesbyelevate.com . We'll walk through what makes sense for your home and get you a plan that puts the most money in your pocket. 

These strategies will save you tens of thousands when selling

Elevate Realty Group answers 7 top Sacramento buyer questions on down payments, offer strategy, contingencies, neighborhoods & rates. Get your free buyer consultation today.

Builders are offering massive incentives right now. Here's how to find them, navigate the process, and make sure you're getting the best deal possible. A lot of my clients over the past year and a half have made a big shift. They've stopped chasing resale homes and started targeting new construction exclusively. And once you see the numbers, you'll understand why. Builders across the Sacramento area are offering some of the best incentives I've seen in years. If you know how to find them and how to use them, buying new construction can be one of the smartest moves you make in today's market. Here are three things every buyer needs to know before stepping into a new construction community. 1. The incentives are real, and they're massive. Builders right now are offering $20,000 to $50,000 in incentives on new construction homes, and the primary way buyers are using these is to permanently buy down their interest rate. We have consistently locked rates below 5% on new construction deals for our clients, bringing rates down from the 7% to 7.5% range to 4.5% to 5%. That difference in monthly payment over the life of a 30-year loan is substantial. When you walk into a community, and the salesperson mentions a $5,000 or $10,000 credit, that is the tip of the iceberg. Knowing what to ask for and having someone in your corner who knows these builders is what gets you the real deal. 2. The process is different, and most of the best inventory isn't on the MLS. New construction isn't like buying a resale home, and the biggest mistake buyers make is treating it like one. Most new construction inventory isn't listed on the MLS. That means if you're searching Zillow or Redfin, you're not seeing the full picture. Some of the best deals in any new construction community come from homes that were under contract with a previous buyer who canceled. When a deal falls apart, that home often becomes available with all its upgrades already selected, and sometimes with improved incentives to move it quickly. But you only know about those opportunities if you have relationships with the builders and you know how these communities work. Getting off the internet and into the community with an agent who has those relationships is what separates buyers who get great deals from buyers who end up on a waitlist. " The builder's salesperson works for the builder. Having your own representation costs you nothing and changes everything about the deal you walk away with. " 3. The listing price isn't the real price. This one surprises many buyers. When you see a new construction home listed at $700,000, that home usually isn't available yet, and that price isn't what you'll actually pay. It's either a base price for a home that won't be ready for three or four months, which will then increase significantly with upgrades and options, or it's a price the builder has set to establish future value in the community. Walk into a sales office without your own representation, and the builder's salesperson will offer you a small credit and tell you it's a great deal. In my experience, having your own representation at the table results in meaningfully better outcomes for buyers, typically in the range of 10 to 15% compared to what unrepresented buyers are offered. The builder pays my fee. It costs you nothing to have me in your corner. New construction is one of the best opportunities in the Sacramento market right now, but it rewards buyers who understand how it works. The incentives are real, the inventory opportunities are real, and the savings from having the right representation are real. If you’re thinking about buying a new construction home in Sacramento, reach out to us before you visit any communities. We can show you what's actually available, connect you with the right builders, and make sure you are getting the deal you deserve. Call us at (916) 862-5463 , email Steve@homesbyelevate.com , or visit homesbyelevate.com .

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 .