The real estate market can be a tricky place for buyers in search of a dream home. There are so many factors to consider, and it can be easy to get caught up in the excitement of the search for perfection—the perfect brick façade, the perfect floor plan, the perfect lot, the perfect location, the perfect price. But it’s important to remember that there is no such thing as a perfect property. We call the concept of a perfect property a “Real Estate Unicorn” because it simply doesn’t exist!

Here are a few things to keep in mind when you’re house hunting:

1. Set realistic expectations. It’s great to have a dream home in mind, but it’s important to be realistic about what you can afford. Don’t get discouraged if you can’t find a home that checks every single box on your list.
2. Be flexible. You may have to be willing to compromise on some things, such as location, size, or price. Be open to different possibilities and don’t be afraid to think outside the box.
3. Don’t be afraid to negotiate. The asking price is just a starting point.
4. Do your research. Before you make an offer, be sure to do your research on the property and the neighborhood. This will help you make an informed decision and avoid any surprises down the road.
5. Get help from a trusted real estate professional. My job is to help you find the right property and negotiate the best price and terms.

The real estate unicorn is a myth. Don’t waste your time looking for it. Instead, focus on finding a home that’s right for you. You can create your own Real Estate Unicorn!

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Recently, I found myself drawn to the “Testimonials” page on our website, where clients have shared their experiences working with the Melville Group. As certain words or phrases were repeated in the reviews, a pattern began to emerge.

In creating a Word Cloud featuring these words and phrases, I was delighted to zero-in on the most valuable traits of my team! Words like “amazing, great communication and hard-working” mean so much more when they come from our clients.

We Appreciate Our Clients

We are thankful for the incredible clients we have had the privilege of serving. We help clients during important milestone moments of their lives. We are humbled by their trust in us during pivotal times in their lives.

For example, we have assisted individuals in achieving significant milestones in their real estate endeavors. We have guided first-time homebuyers on the path to homeownership, and supported newly married couples. Our team also been there for those facing the loss of a spouse or partner. Additionally, we have helped individuals navigate the changes that come with caring for aging parents and have supported those seeking to simplify their lives by downsizing. Moreover, we have had the privilege of partnering with investors seeking financial opportunities and growth.

In each of these unique scenarios, the Melville Group’s “WHY” becomes increasingly clear and profound. The core of our motivation has always been and will continue to be a deep passion for meeting the needs of our clients.

What Does “The Why” Mean For the Future?

As I eagerly anticipate further opportunities to serve and make a positive impact on the lives of those we have the privilege to assist. Questions? Call anytime!

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Wishing you a joyful Memorial Day! I hope you have exciting plans to spend the weekend with loved ones. While it’s a perfect time to savor delicious hot dogs and take a spin in your boat on Lake Folsom, it’s also a chance to pause and appreciate the tremendous sacrifice made by those who bravely defended our cherished freedoms.

Interested in discovering a unique approach to commemorate this occasion?

​Memorial Day Observance: Honoring American Heroes, Rancho Cordova

The Cordova Community Council is proud to present a community event honoring those who have bravely served the nation in times of war and peace. Plans for 2023 include a moving musical tribute and recognition ceremony for Memorial Day staged at the beautiful Cordova High School Performing Arts Center.

Can’t Make it to an In-Personal Event? Consider Participating in the National Moment of Remembrance

On Memorial Day in the United States, at 3:00 p.m., a cherished tradition called the National Moment of Remembrance unfolds. It is a solemn occasion when people throughout the nation pause to observe a moment of silence, paying homage to the courageous military personnel who have made the ultimate sacrifice while serving their country.

During this poignant moment, individuals are encouraged to contemplate the selfless acts of these brave men and women and express gratitude for their unwavering dedication and service. The objective of the National Moment of Remembrance is to foster a collective sense of reverence and solidarity, enabling people from all walks of life to join together in honoring and remembering those who have given their lives for their nation.

Warmest wishes for a weekend filled with enjoyment, reflection, and safety.

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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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