Randall Watts Real Estate

10/31/2023

Check out our newest listing! 2 acres in the hills of Placerville, 2 miles from the El Dorado National Forest. This one of a kind property offers a fenced horse pasture and updated property. There is also an opportunity to assume the sellers loan at a 2.75% interest rate!

At only $400k you could have the space you’ve been looking for!

View listing info:

09/20/2023

Well, thankfully the fed has decided to pause rates for now! 🎉🙌🏼

They did however leave room for the possibility of raising them again sometime before the end of the year and maintaining through 2024.

Now that we know rates aren’t going anywhere anytime soon.. maybe taking a look at the real estate market isn’t a bad thing..

Experts still expect a large run of increased sales once rates drop. There is demand for housing we aren’t seeing in the headlines because sales aren’t happening. But from experience in the field daily I can tell you there are tons of people “waiting for rates to drop”.

Buyer demand increases and lowers supply.. the cost of that remaining supply will increase dramatically..

At least that’s the prediction

08/23/2023

Fun fact of the day!

Home builders are offering out some nice finance packages to buy your next home! 🎉

Get a realtor to help you negotiate one of the many routes you can take. Ask for seller credits, use the in house lender for added bonuses, negotiate upgrades, get your rate bought down, etc.

An experienced realtor can help you find the best route with the builder to get you what you need to buy that next home!

If you wait like everyone else... you will be buying with everyone else 🙃

08/22/2023

Fun fact of the day!

Did you know that VA loans are assumable? Did you also know that ANYONE can assume a VA loan?

Veteran or not, VA Home Loans can be assumed by someone else. As long as they are approved by the current lien holder.

This could be your way into the home of your dreams. Ask your veteran friends if they know anyone who needs to sell, and make a deal!

08/18/2023

💸 Here we go!!💸

Rates are once again volatile..

Last week the CPI (consumer price index) came back lower than expected! Yay!🎉 Well, don’t get too excited!

The report didn’t include the rising oil prices.. not sure if you noticed but gas prices went up again.. the Saudi owned company, Saudi Aramco, didn’t show profits like they thought. So, they raised prices. Price per barrel is now $84 and in June it was $68.

Why does this matter though? Well, this increase is driving up consumer prices. Last time we saw oil go up we also saw food prices go up. Also, this increase wasn’t included in the last CPI report 👀 more higher cost of goods will drive up inflation…

So, now what?

Rates have been all over the place, but mostly up.. and we’ve now hit a new rate high of 7.5% 😱

But the recent rate increases wasn’t because of oil prices or food prices. It was because of The Fed’s released meeting minutes.

Most of the Fed members still see “significant upside inflation risks”. The Fed also stated that keeping rates higher for longer is no doubt going to happen.

Bottom Line:

- Get use to these rates because they are here. And they will probably be here for longer than you think.
- Market experts estimate another rate hike in September at 11% probability. (I personally believe they will hike one more time)
- Buy within your means, know your costs before you buy, make sure your job is solid 🤙🏼

If you have any specific questions about anything feel free to reach out! 👍🏼😎

08/02/2023

Real estate market got you down? Having trouble finding what you want? We have 3 lots (two with plans) available NOW!

Two of these lots are located in West Sacramento in a custom neighborhood where preliminary drawings and engineering are complete! There is still time to customize the interior. Get EXACTLY what you're looking for 🙌

We also have land available in Fairfield at the top of a mountain! 😱 Over look the rolling hills with your morning coffee and evening wine 😎 This lot is also minutes to Napa Valley!

Follow the links and check them out for yourself!

Lot 1 in West Sacramento: https://apps.realtor.com/mUAZ/viexa2pw

Lot 2 in West Sacramento: https://apps.realtor.com/mUAZ/5warppk4

Lot in Fairfield: https://apps.realtor.com/mUAZ/s3o406fl

07/28/2023

📈 Rates on the rise again 📈
No one can hide from it 🫣 as much we want to..

The good news the from the Fed is that we avoided a recession again 🙌🏼

Strong economic and employment numbers are showing a healthy economy and pushing the Fed to caution about another interest hike in September. If the economic and employment number gets worse then they won’t raise rates. But if they stay as they are now, healthy, they will raise.

Now the question is.. what is the Fed looking at to determine whether to hike or not.
- specifically two jobs reports (between now and September), a CPI report (this is the inflation report) and an employment cost index.

All these reports put into the feds crazy algorithm give them their gauge for inflation. We are currently running at 4.6% inflation. But the fed wants the rate to be 2%. And not just hit 2% but to stay at 2%.

So, for the very least get ready for these current rates to stay for awhile. Holding 2% inflation for “multiple months” will not only be tough but the number associated with “multiple” remains a mystery.

This is a lot of information so if you have questions feel free to reach out 🤙🏼😎

07/26/2023

🥳Buying strategies for real estate🥳
I break down the ins and outs of purchasing real estate.

- Examining the market
- Evaluating properties
- Multiple offer situations
- Important contract terms

The list goes on! I have 24 videos to go through if you really want to learn what a real estate agent does or should be doing for you!

I am a top producing agent helping educate you on your real estate journey. I have many years in the industry and have helped over 100 buyers and sellers, an...

07/24/2023

Check out our newest listing 🙌🏼 this beautiful piece of property has plans ready for the next owner! Submit for permits and start building this custom home right away! Or you could always design your own home. Either way, this lot has DREAMS written all over it!

Take a look at this home I found on Realtor.com
2638 Myers Ranch Ln, West Sacramento
$380,000 · N/Abeds · 0baths

https://apps.realtor.com/mUAZ/7bbhuje1

2638 Myers Ranch Ln, West Sacramento, CA 95691 is for sale. View 18 photos of this 0.98 acre lot land with a list price of $380000.

07/19/2023

Inventory, inventory, where is the inventory!?

Have you heard of the “lock-in effect”? It’s the term being used to describe the lack of inventory.

“Homeowners are disincentivized to list their homes for sale because of the cost/difficulty in finding a new home. This is seriously inhibiting the supply of existing homes available for sale.

The supply of homes for sale is now at a record low, and millions of new homes need to be built to meet demand” - RealTrends

Waiting for a crash or prices to dramatically drop could be waste of time.

According to Redfin, the inventory turn over is roughly 14/1000 homes. For every 1000 homes only 14 are being sold/bought. That’s down from 19/1000 before the pandemic.

A healthy turnover is between 40 & 50/1000. Even if the market was all of a sudden flooded with homes.. it would still take awhile to catch up.

If you’re on the sidelines waiting you could be missing out on one of the best reasons to buy in California… the equity gains!

Because even though it’s harder to buy, the minimal inventory is keeping prices up. Even now home prices have increased over the last few months.

If you are thinking about buying come to grips with the rates and buy where you are comfortable. There are tricks to lower your monthly payment if you find a house you love.

- rate buy downs could be what you need. But beware these only last 1 to 2 years and monthly payments goes up each year. In this situation you are betting on rates being lower in two years so you can refinance.

- prepay your mortgage insurance. It is an upfront cost but for a few thousand it can save you hundreds every months.

- negotiate for seller credits to save your cash.

Good luck in your home search! As always - if you have any questions feel free to reach out 👊🏼

07/13/2023

Hopefully you saw or heard yesterday that inflation was down to 3%!

This is good news for rates. Strong economic data plus lower inflation brought rates down! But, don’t get too excited.. rates are still hovering around 7% but most rates have a 6 in front 🎉🎉

To keep the feds off our back and to not raise rates we will need a couple more months, possibly more, at this near target inflation percentage.

“Inflation cooled to a monthly pace that is very close to in-line with the Fed's inflation target. To whatever extent such a pace can be maintained or improved upon, the Fed wouldn't need to continue hiking rates and the rest of the bond market wouldn't need to continue defending against that possibility.” - Mortgage News Daily

07/10/2023

👀What to watch this week👀

But first! Thank you to those who followed this page yesterday, I appreciate you!

We saw interest rates jump up to 7.25%, in most cases, as we closed out last week. This week we have a crucial inflation report, the Consumer Price Index, coming out on Wednesday!

If this report shows inflation cooling more than expected rates have room to move down. But if it is similar to last weeks report and exceeds forecasts, rates will likely continue pushing up.

If you are looking at making a purchase consider talking to your lender about securing your rate. You will be protected from raising rates and if they drop your lender can always give you the lower rate.

Protect yourself out there and happy house hunting!

Don Stocker Stocker And Watts