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June 2017
Lyon Real Estate

Welcome to Summer 2017 LYON Roseville ROCKSTARS!  Did you get your eNewsletter out this month?  It's such an easy AUTO FLOW marketing tool that helps keep you top-of-mind with your database.  If you need assistance to get you ready for next month, I can help you!  I added a couple of customized articles this month - Enjoy!  Cheryle... 


Sacramento Is California’s Newest Real Estate Hot Spot
The once sleepy government town is attracting a rush of buyers and flurry of development near its Golden 1 Center, a new NBA arena.

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Sacramento’s real estate market is shaping up to be one of the hottest in America. Home prices remain affordable by comparison to the Bay Area, with the median home price at $228 per square foot.

Price cuts have been replaced by bidding wars. A once-sleepy downtown is flush with urban-renewal projects. A luxury condo tower with penthouses priced over $4 million is under construction. Sacramento, Calif., long seen as a fairly bland government town, is in the midst of a real estate boom.

When Suzanne Greer listed her six-bedroom home just outside of Sacramento last month, so many potential buyers showed up to the three-hour open house that her real-estate agent had to extend it by two hours. Offers started coming in that evening. Eight buyers entered a bidding war.

“We’ve been here 17 or 18 years and have never seen it like this,” says Ms. Greer, who, with her husband, owns a commercial air conditioning business. She sold the home for $40,000 over the $799,000 asking price—plus two months of free rent so she doesn’t have to move out right away while she builds a new home nearby.

Houses are moving fast. Homes in Sacramento have been selling in an average of 34 days—six days faster than they were at this time last year, and 28 days faster than the U.S. overall.

It is a dramatic turn of events for a city that just a couple of years ago was still struggling to pull out of a deep housing slump, even as other markets in California surged. Sacramento is finally seeing the kind of downtown resurgence that is been happening in cities across the U.S. over the past 10 to 15 years. And the region is partly benefiting from some spillover as San Francisco and Silicon Valley’s tech boom brings skyrocketing prices and a housing shortage, pushing buyers to look further afield.

About an hour-and-a-half drive northeast of the Bay Area, Sacramento remains relatively affordable. The median price a square foot of a Sacramento-area home is $228, compared with $531 in the Bay Area.

If current trends hold, Javier Vivas, manager of economic research for, predicts that Sacramento prices will rise 7.2% this year over last year, compared with a national average of about 3% over the same period. San Francisco prices are forecast to rise by 8.4%. (News Corp., owner of The Wall Street Journal, also operates under license from the National Association of Realtors.)

Nick Sadek, a real-estate agent with Sotheby’s International Realty, says about a third of his buyers come from the Bay Area. One client, who works for Google and is able to work remotely, sold his small home in Menlo Park for $4 million and bought a 3,800-square-foot home in a Sacramento suburb for $1.3 million.

Raleigh and Nan Klein sold their home in Alameda, near Oakland, last year to buy a home in Davis, 20 minutes outside of Sacramento. After 30 years, the empty nesters say they were tired of the Bay Area’s congestion and looking for an easier place to live.

“We were looking for somewhere we could walk and bike a lot,” says Mr. Klein. In December, they purchased a two-bedroom home with a den in the Cannery, a new-home community set up around an urban farm that is bikeable to town. Though the couple declined to say what they paid for their homes, similar models start in the $700,000 range.

Developers are betting big on a revitalization of the city’s downtown, which is pocked with seedy areas and long offered little beyond offices and the state capitol building.

A partly vacant Westfield mall has been mostly dismantled to create Downtown Commons, an 11.8-acre pedestrian-friendly residential and commercial plaza. Developed by the NBA’s Sacramento Kings and JMA Ventures, it includes offices, shopping and the new Golden 1 Center, the only indoor/outdoor NBA arena that is 100% solar-powered (and boasts an $8 million Jeff Koons sculpture). Nearby, a local developer is turning a 100-year-old bank building into a 30,000-square-foot upscale food hall. Local developer LDK Ventures is turning an old 140-acre rail yard into a development with a Kaiser hospital, a Major League Soccer stadium, offices and housing.

One of the most ambitious residential projects is the Residences at the Sawyer. Offering city and river views, as well as room service and a concierge, the condominiums are breaking new ground in pricing and amenities. Set on top of a new 250-room Kimpton Hotel, condos also come with VIP access to Golden 1 Center, a private lounge and a pool and terrace overlooking the arena. One-bedrooms start at $600,000 and three-bedroom penthouses with over 3,300 square feet go up to just over $4 million, says director of sales Christopher Miller, of the Agency Development Group. The building, part of Downtown Commons, is expected to be completed in late 2017

Sacramento “went from one of the worst real-estate markets to one of the best,” says Vivek Ranadivé, a Silicon Valley-based founder of two tech companies, Tibco and Teknekron Software Systems, and owner and chairman of the Kings. He has purchased a condo in the Sawyer.

Real-estate agents and developers say the most desirable neighborhoods are in the urban core—a shift from the prior boom cycle around 2005, when suburban areas with gated developments and highly rated public schools were more popular.

Shelly and Paul Zehnder recently sold their suburban home to move downtown, where they’re in contract to purchase a 1,200-square-foot condo at the Residences at the Sawyer. With all three of their children now out of the house, the couple wants to be closer to the action. As Kings season ticket holders, they liked that they could see the arena from their two-bedroom unit.

Kaycie and Bryan Yong, who both work for the state of California, wanted to be close to downtown to shorten their commutes. With a budget of $300,000, they found that listings were often selling for $50,000 over asking. “It was really competitive,” says Ms. Yong, who is expecting her first child in this month.

In November they purchased a new-construction three-bedroom home for $375,000 in McKinley Village, which is a short drive from downtown.

Local real-estate agents warn that Sacramento’s pace of growth may not be sustainable. Though the city of 485,000 has benefited from expansions in the medical and health-sciences industries, unemployment is 4.5% in Sacramento County, relatively high compared with the national average of 4.1% and San Francisco County’s 2.7%. Mr. Vivas of says the housing market needs more support from the local economy, instead of just demand from other areas.

The frenzied market can be a challenge. Mark and Andrea Goldsmith listed their home just outside of Sacramento in April for $1 million and got an offer six days later. The buyers were a Bay Area couple who offered to pay all cash. When it came time for the Goldsmiths to buy a house closer to the city, they found themselves in bidding wars. In the 20 months they spent looking, they say they saw prices in their target neighborhoods go up by about 20%.

They’re now in contract to pay $862,000 for a three-bedroom, 1,700-square-foot house that was listed for $769,000. “I think it was a risky time to buy,” says Ms. Goldsmith, a former home appraiser. “But we plan to live there for 10 or 20 years so I’m not worried about it.”

Get Smart About Prospecting for Big Profit
By Terri Murphy
Get Smart About Prospecting for Big Profit
Want to boost your bottom line and see the results in just 90 days? If you’re unhappy with the number of pending transactions or the lack of listings in your pipeline, you might need better prospecting habits.
Most agents get caught in the cycle of working with buyers, getting the transaction to closing and then having to start the process over to keep the commissions rolling in. To avoid the peaks and valleys of the sales cycle, it takes smart prospecting strategies and a commitment to daily discipline to avoid those dry spells.
Successful agents understand the power of regularly scheduled daily activities that result in more sales more often. When planned, prospecting becomes a success habit that without question is part of a daily routine. Before you protest that you’re “too busy,” stick with me to discover the simple steps that make prospecting easy (and fun), delivering impressive results. Here are three of the most efficient prospecting initiatives; remember, you need to get the most from the energy you devote to prospecting:
1. Think daily. Well-coached agents understand that a disciplined prospecting process is part of the daily routine. Start planning a productive week by blocking out on the calendar the specific dates and times you’ll devote to prospecting. If you don’t schedule it, you won’t do it. Should you have a face-to-face appointment with a buyer or seller, you can always schedule around that time to avoid losing a sale.
2. Target your prospecting to specific groups on specific dates. When you’re planning your productive week in advance, schedule the daily time slots strictly for prospecting to specific groups of prospects. When you organize how you prospect and to whom, not only is it more efficient and effective, but it will help you stay consistent and measure results. For example, schedule your B leads (those 30-90 days from a buying or selling decision) by setting aside a specific day during the first and third week of every month to call them. Schedule your C leads (those more than 120 days from making a decision) for the second week of every month. Plan to contact your Top 50* Referral Elite Network once a month and immediately schedule the next month’s follow-up call. Plan a monthly touch with this group so you don’t slip up and miss the opportunities within this resource-rich group.
3. Plan your events in advance for the year. The months will slip away fast, so take the time now to schedule the dates for each of your quarterly events. When you block the dates well in advance, you’re then able to plan backwards and schedule all the activities leading up to the event for a stress-free outcome. Block your Thanksgiving Pie promotion giveaway, your summer client appreciation parties and your wine and cheese events. Scheduling these important live events will keep you top of mind all year long.
Prospecting is so much more than cold-calling, emailing or automated messaging. Set yourself up to prospect for real profits with a schedule that works for you.
Why Curb Appeal Matters

First impressions matter. Adding curb appeal to your house not only makes it easier to sell, but it also gives your house that finished look that you can take pride in. Here are some of the most important things you can do to ensure that your home has maximum appeal from the curb:

Plant some Color
Spruce up your flower containers, window boxes and front beds with some colorful flowers for instant lift. Consider adding a small seating area on the porch or front yard. Adding cushions, candles and table décor will give a modern and fresh look to your home.

Paint or Replace the Front Door, Trim or Shutters
The front door is the main focal point and definitely worth the time and effort to repaint or replace. A well-lit front door makes a home look warm and welcoming, so install or update your front-entry lighting if needed. Pull the entryway together with fresh hardware – a doorbell, doorknob and shutters. Consider a new mailbox and a new welcome mat.

Install new House Numbers
New house numbers will spruce up your home's curb appeal, especially if your house has faded or dated house numbers, or if they're difficult to see. Consider the style of your house – traditional, transitional or modern – and create a harmonious or contrasting effect with new house numbers.

Pressure-Wash your Driveway
If you're eager to clean your oil-stained driveway and spruce up faded walkways, pressure-washing is a very cost-effective way to increase your curb appeal. Don't own one? They're available for rent for a day from a local home improvement store.

When in doubt, or for more specific direction, enlist the help of a professional landscaper, stager, or color specialist.

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Cheryle Ackerman Griffin Direct

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