Tips for Buyers and Renters in the Sacramento Real Estate Market
Sacramento real estate market in 2022
Sacramento’s real estate market broke records in 2021. What do experts expect for homebuyers in 2022?
In a competitive and expensive California real estate market brimming with potential buyers and tenants, standing out can seem futile.
And while competition in the housing market is fierce for would-be homeowners, more and more people are turning to rentals nationwide.
According to the Rental Protection Agency, there are currently over 115,000,000 renters in the United States and the number continues to grow as 2,654 new renters enter the market each day.
“It’s no secret here that in California — Sacramento, in particular — we’re one of the hottest markets in the entire country,” said Sacramento realtor John Campos. “And it’s exceptionally difficult to get a housing offer accepted and I think it’s actually 10 times harder to get a rental application accepted.”
But that doesn’t mean it’s impossible.
According to real estate agents in the area, there are ways to present yourself as the ideal candidate for a property or apartment and mark your new home.
Find a real estate agent “that meets your expectations”
If you’re looking to buy a property, you should look for a real estate agent who is communicative and diligent, and who will take their time to work with you, Campos said.
Interviewing agents is a great way to find out if they’re a good fit for you.
“Make sure they live up to your expectations, make you feel comfortable, explain things in a way you understand, and don’t just touch on topics , assuming you know what they’re talking about,” said Campos, who also makes social media videos to guide people through the real estate market.
The right agent can help you market the property listing agent. They can speak to them directly about the quality of your person, your attributes, your financial situation, pre-approvals and why this house is special for you, Campos said.
“That’s what makes you stand out,” he said.
Prepare your documents
Whether you’re bidding on a home or applying to rent, make sure you have all your paperwork ready to go.
“You want to make sure everything is lined up and you have a nice, clean package with no unanswered questions for this seller,” said Della Johnson, realtor at Better Homes and Garden Real Estates in Fair Oaks.
Johnson, who also has rentals and works with potential tenants, said she likes when people put together packages that provide information about their credit score and past references.
And you want to be as detailed as possible when sharing your financial strength, Campos said. When buying a home, having a pre-approval letter and a letter from the heart, which is basically a love letter about your interest in the property to appeal to the seller, can “significantly increase your chances of success.” acceptance,” he said.
As for renters, you should include your bank statements, pay stubs, or even a stock portfolio to show that you’re good with money.
Campos said it was all about going out of our way and making it as easy as possible for that landlord to choose you. .
Be quick and show up, if you can.
Whoever has everything first is the winner. Basically, Campos said, make sure you have your information ready and apply for the place you want as soon as you can.
Also, if possible, you should go to the property’s open house or make an appointment to view the place.
This gives you the option to speak with the property manager or owner in person. Campos said showing up, along with a detailed application, can give you a huge advantage over others who haven’t seen the property or don’t have all their documents together.
Pay the rent in advance
If you have the financial resources available, offer to pay the rent a month or two in advance, Campos said.
Don’t be discouraged if you have to apply to multiple places to secure a home, said Gina Cole, corporate communications representative for Zillow. This is common, given that a typical tenant will submit two applications, according to Zillow’s Consumer Housing Trends Report.
This story was originally published January 14, 2022 5:00 a.m.