Currently, Folsom and surrounding areas are experiencing a Seller’s Market with low inventory.

What does “Months of Inventory” Mean?

You’ve probably heard the term “months of inventory” when talking about the housing market, but what does it really mean? And how does it affect you as a buyer or seller? Let’s dive in and find out!

In simple terms, months of inventory refers to the amount of time it would take to sell all the homes on the market based on the current sales pace, assuming no new listings are added. It’s calculated by dividing the total number of homes for sale by the average monthly sales rate.

How does Inventory Affect the Type of Market?

A balanced housing market typically has around 4 to 6 months of inventory. This means there’s a healthy balance between buyers and sellers, creating a fair and competitive environment. For buyers, it means having a reasonable number of choices without an overwhelming surplus of homes. Sellers, on the other hand, can enjoy a decent pool of potential buyers without facing intense competition or extended listing periods.

On the flip side, when there’s less than 4 months of inventory, it’s considered a seller’s market. This situation arises when the supply of homes is limited, but the demand is high. In such cases, prices may rise, and homes sell more quickly. Buyers may find themselves in a more challenging position, with fewer options and less room for negotiation.

Conversely, a buyer’s market occurs when there are more than 6 months of inventory. This means the supply of homes exceeds the demand, potentially leading to slower sales and more negotiable prices. Buyers can take a little more time, explore more choices, and perhaps have greater bargaining power.

How Does Low-Inventory Market Affect Buyers?

For buyers, a low-inventory market can present some challenges. With rising interest rates, there’s concern that monthly payments may not stretch far enough to purchase their dream home. Finding a suitable home can become a lengthy process, involving months of searching, numerous showings, and rejected offers.

Sellers, though benefiting from a seller’s market, face their own set of difficulties. While they may sell their home faster and at a good price, the real challenge arises when they need to find a new home that meets all their needs within a specific timeframe while dealing with higher interest rates.

Experienced real estate investors, on the other hand, can leverage a low-inventory market to their advantage. It’s an opportune time to sell underperforming investment properties, capitalize on rising property prices, recover costs, and potentially make a profit sooner than expected.

The Takeaway

Housing inventory plays a crucial role in the dynamics of the market. Whether you’re a buyer, seller, or investor, understanding these impacts can help you navigate the market and make informed decisions. Remember, market conditions can vary, so give me a call to discuss the market in your specific area.

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Mother’s Day is just around the corner. I thought it might be fun to share the home trends and designs that are must-haves for Moms.

Check out these five features that Moms all agree on:

Storage, storage, storage: Families accumulate lots of stuff over time, from toys and games to clothing and sports equipment. Having ample storage space can help keep everything organized and easily accessible. It also keeps clutter at bay.

A dedicated play area: Kids need a space to play. They can be creative without worrying about making a mess or disrupting other activities. A dedicated play area provides a safe and fun space for kids to let their imaginations run wild—and not drive Mom crazy with the mess.

A functional kitchen: The kitchen is the heart of the home. It’s where families come together to cook, eat, and hang out. A functional kitchen needs plenty of counter space, storage, and high-quality appliances that can make meal prep and cleanup a breeze. It also creates a welcoming and inviting space for family gatherings.

A comfortable space for gathering: Whether you’re watching a movie, playing a game, or just chilling, families need a space to gather. Having a comfortable and inviting living room with plenty of seating, good lighting, and a cozy atmosphere makes all the difference.

Outdoor space: Having a backyard, patio, or deck where the family can spend time outdoors is a great way to get some fresh air, exercise, and relaxation. Families play catch, grill or just lounge in the sun. Having an outdoor space can provide a much-needed escape from the daily routine.

So, what’s the Takeaway?

Moms love a family-friendly home that is functional, comfortable, and welcoming. By incorporating these five must-haves, you can create a home that meets the needs of every member of your family. It also provides a comfortable and inviting space for years to come.

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It’s Cinco de Mayo! Let the taco-eating begin!

What is Cinco de Mayo all about?

Cinco de Mayo is a holiday that commemorates the Mexican army’s victory over the French at the Battle of Puebla on May 5, 1862. The battle occurred when a poorly equipped and outnumbered Mexican army successfully defended the city of Puebla against a larger and better-equipped French army. The victory was significant because it demonstrated that Mexico was capable of defending itself against a European power.

The Battle of Puebla became a symbol of Mexican resistance and national pride. Cinco de Mayo is primarily has become a popular holiday in the United States, where it is often associated with Mexican-American culture and heritage.

And tacos!

Tacos are one of America’s favorite foods. In fact, Americans consumed 4.5 billion tacos in 2018 alone. I guess I’m not alone in my taco appreciation!

My favorite spot for tacos–and so much more!

Mas Tacos, 450 Palladio Pkwy, Folsom

From the Mas Tacos website:

Mas Taco Bar features unique, untraditional tacos ranging from pork belly and Korean fried chicken to fried oysters, to name a few. The tacos run the gamut of flavors, and the menu also features appetizers, a handful of “not tacos,” bowls and desserts. The cocktail menu offers specialty margaritas and craft cocktails handmade with fresh ingredients, easily paired with any taco. Of course, the Mas menu includes an amazing variety of beers and more than 50 tequilas to explore.

Have a safe and delicious Cinco de Mayo!

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Are you looking for a dream home that combines stunning views, outdoor recreation, and comfortable living? Look no further than this beautiful home in Fair Oaks, California!

Perched on a bluff overlooking the American River, this custom-designed home offers a rare and coveted location that is truly breathtaking. With easy access to the American River Parkway trails, you can indulge in outdoor recreation such as biking, jogging, and scenic walks to Fair Oaks Village with its charming restaurants and shopping.

Inside, this lovely home has 4 bedrooms, 3 bathrooms, plus a bonus room/office, making it the epitome of comfortable living. The updated kitchen is perfect for those who enjoy cooking and entertaining, with ample counter space and modern appliances. The open floor plan and large windows throughout the home take full advantage of the stunning views and natural light.

Outside, the private yard features beautiful landscaping and plenty of space for gatherings. Whether you’re hosting a summer barbecue or enjoying a quiet evening under the stars, this home has everything you need to entertain in style.

The large garage offers ample storage and workshop space, while the expansive area under the house and attic provides additional storage options. With a newer HVAC, exterior paint, and roof installed just 4 years ago, this home is move-in ready and waiting for its new owners to make it their own.

If you’re looking for a home that combines stunning views, outdoor recreation, and comfortable living, this amazing listing is a must-see. Don’t miss your chance to make this dream home your own!

3920 Ridge Street, Fair Oaks

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Buying or selling a home is a significant financial decision, and it’s essential to have the right realtor on your side to guide you through the process. At the Melville Group, we believe that a great realtor should have several qualities, including experience, knowledge, and communication skills. It’s the perfect trifecta for a successful transaction.

The three most important qualities in a realtor:

EXPERIENCE

The first quality you should look for in a realtor is experience. An experienced realtor has a good understanding of the market, which can help you make informed decisions about pricing, timing, and negotiating. They also have a track record of success, which can give you confidence in their ability to sell your home quickly and at the best possible price. An experienced realtor can also help you navigate any challenges that arise during the buying or selling process, ensuring that the transaction goes as smoothly as possible.

Here at the Melville Group, our combined experience exceeds 100 years! We can promise you’ll be in good hands.

KNOWLEDGE

The second quality to look for in a realtor is knowledge. A knowledgeable realtor has a deep understanding of the local real estate market, including the latest trends, regulations, and legal requirements. We provide you with valuable insights into the local housing market and help you understand the complexities of the buying or selling process, including financing options, inspection requirements, and closing costs.

COMMUNICATION SKILLS

The third quality that is essential in a realtor is excellent communication skills. At the Melville Group, we listen to your needs, understand your goals, and keep you informed throughout the process. We communicate clearly and effectively, both in writing and verbally, and we are responsive to your questions and concerns. Our goal is to help you feel comfortable and confident throughout the buying or selling process, reducing stress and ensuring that you have a positive experience.

The takeaway

When it’s time to choose a Realtor, give me a call. With our winning combination of experience, knowledge, and communication skills, we can help with your real estate dreams.

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