Real Estate Review Friday, January 28, 2022

yolo homes Review

DAVIS, WOODLAND, WINTERS & BEYOND · THE DAVIS ENTERPRISE · FRIDAY, JANUARY 28, 2022

1928 Cannery Loop COURTESY PHOTOS

Offered by Lori Prizmich, RE/MAX Gold, page 5

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THE REAL ESTATE REVIEW

The Davis Enterprise, Friday, January 28, 2022

1928 Cannery Loop

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4 bed

3 bath

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2,511 sq. ft.

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2701 Bidwell Street, Unit 2 ADU

Experience timeless beauty and energy efficient living in this Persimmon home

by Shea Homes. This one checks all the boxes with 3 bedrooms/2 baths upstairs, full bedroom and full bathroom downstairs. Hard to find, this property has a separate one-bedroom ADU above the garage!

4 bed

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1,924 sq. ft.

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1 bath

903 sq. ft.

This North Davis condo in the La Buena Vida development offers simplicity with 2 bedrooms, 1 bath and a one car garage! The family room's red brick accent wall highlights a vintage black metal staircase to the second floor and gives the home a welcoming eclectic vibe. Two city parks, Nugget Market and public transit are nearby.

5257 Hamel Street 2 bath

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2 bed

2248 Cannery Loop Lot Size .15

3 bed

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3 bath

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1,924 sq. ft.

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Office

THE REAL ESTATE REVIEW

The Davis Enterprise, Friday, January 28, 2022

Professional services Directory DESIGN

BUILD

ENJOY

Great Selections t ons att

Great Prices!

Davis Native Since 1969, Your Local Builder Designing Building Remodeling in Davis Over 30 Years

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Meet a mortgage lender you can count on.

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FIRST NORTHERN BANK Terri Hirst, Mortgage Loan Representative DAVIS MORTGAGE LOAN OFFICE 508 Second Street, Suite 104 s THIRST THATSMYBANK COM www.thatsmybank.com/thirst Member FDIC

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THIS SPOT CAN BE YOURS! For Information on Advertising Please Contact: Nancy Hannell 530-747-8032 • nhannell@davisenterprise.net

Remodeling, Design & Construction general contractor, lic 611115

530.753.1551 • www.SedilloCompany.com

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THE REAL ESTATE REVIEW

The Davis Enterprise, Friday, January 28, 2022

Rent-to-own agreements REAL ESTATE 101

Most homeowners use a mortgage to finance the purchase of a new home.

But for those who lack a good credit score or cash for a down payment, the traditional route to homeownership may be fraught with potholes. There may be a solution, however, with the right seller and the right property.

Rent-to-Own Agreements Rent-to-own agreements are where the buyer agrees to rent a home for a certain amount of time with the option to buy it before the lease expires, Investopedia says.

They consist of two parts: The standard lease agreement and the option to buy.

The buyer may also be required to pay the seller a one-time, usually non refundable fee called the option fee, option money or option consideration.

This fee gives you the option to buy the house at some date in the future and usually ranges between 1% and 5% of the purchase price.

Lease-Option vs. Lease-Purchase Lease-option contracts give you the right but not the obligation to buy the home when the lease expires. If, when the lease is up, you decide not to purchase, the option just expires and you can walk away from the property. With a lease-purchase agreement, you could be legally obligated to buy the home at the end of the lease, whether you can afford it at not. Investopedia recommends having a qualified real estate attorney review any agreement before you sign it.

Agreeing on the Purchase Price Make sure any agreement specifies when and how the home’s purchase price is determined. The buyer and seller may agree on a price when the agreement is signed or the price may be determined when the lease expires. Some buyers may prefer to lock in a purchase price, especially in areas where the market is particularly hot.

During the lease term, you’ll pay rent to a landlord. Your agreement will stipulate whether any of that applies to the eventual purchase price. If the rent does apply, look for that rent to be higher than the going rate for your area to make up for the rent credit you receive. The option money may also be applied to the eventual purchase price. Read your agreement thoroughly so that you understand what your obligations are.

Home Maintenance Your agreement should also stipulate who is responsible for maintaining the property during the term of your agreement. Sellers may choose to cover costs they would generally be responsible for, Investopedia says, such as homeowners association fees, taxes and insurance. Sellers should get a renter’s insurance policy of their own and also make sure they know what maintenance and repair requirements are their responsibility. Some jobs that may be the buyer’s responsibility may include mowing the lawn, cleaning gutters and more.

—HomeWise

THE REAL ESTATE REVIEW

The Davis Enterprise, Friday, January 28, 2022

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Cover Home

Experience Timeless Beauty!

Adobe/Stock graphic

Annual existing-home sales hit highest mark since 2006 Monthly sales drop 4.6% in December WASHINGTON — Existing-home sales declined in December, snapping a streak of three straight months of gains, according to the National Association of Realtors®. Each of the four major U.S. regions witnessed sales fall in December from both a monthover-month and a year-over-year basis. Despite the drop, overall sales for 2021 increased 8.5%.

Total existing-home sales, https://www.nar.realtor/ existing-home-sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, dropped 4.6% from November to a seasonally adjusted annual rate of 6.18 million in December. From a year-over-year perspective, sales waned 7.1% (6.65 million in December 2020).

"December saw sales retreat, but the pull back was more a sign of supply constraints than an indication of a weakened demand for housing," said Lawrence Yun, NAR's chief economist. "Sales for the entire year finished strong, reaching the highest annual level since 2006."

Yun, however, does expect existing-home sales to slow slightly in the coming months due to higher mortgage rates, but noted that recent employment gains and stricter underwriting standards ensure home sales are in no danger of crashing.

He forecasts rates to remain below 4% by year-end and wages to hold firm due to a tight labor market.

"This year, consumers should prepare to endure some increases in mortgage rates," Yun cautioned.

"I also expect home prices to grow more moderately by 3% to 5% in 2022, and then similarly in 2023 as more supply reaches the market."

Total housing inventory at the end of December amounted to 910,000 units, down 18.0% from November and down 14.2% from one year ago (1.06 million). Unsold inventory sits at a 1.8-month supply

at the present sales pace, down from 2.1 months in November and from 1.9 months in December 2020.

"We saw inventory numbers hit an all-time low in December," Yun said. "Home builders have already made strides in 2022 to increase supply, but reversing gaps like the ones we've seen recently will take years to correct."

The median existing-home price for all housing types in December was $358,000, up 15.8% from December 2020 ($309,200), as prices rose in each region. The South witnessed the highest pace of appreciation. This marks 118 straight months of year-overyear increases, the longest-running streak on record.

Properties typically remained on the market for 19 days in December, one day more than the 18 days seen in November, and down from 21 days in December 2020. Seventy-nine percent of homes sold in December 2021 were on the market for less than a month.

First-time buyers were responsible for 30% of sales in December, up from 26% in November and down from 31% in December 2020. NAR's 2021 Profile of Home Buyers and Sellers – released in late 2021 – reported that the annual share of first-time buyers was 34%.

Individual investors or second-home buyers, who make up many cash sales, purchased 17% of homes in December, up from 15% in November and up from 14% in December 2020. All-cash sales accounted for 23% of transactions in December, down from 24% in November, and up from 19% from December 2020.

Distressed sales – foreclosures and short sales – represented less than 1% of sales in December, equal to the percentage seen in both November 2021 and December 2020.

—The National Association of Realtors

1928 Cannery Loop 5 Bedrooms • 4 Bathrooms 2,511 Square Feet Experience timeless beauty and energy efficient living in this Persimmon home by Shea Homes. This one checks all the boxes with 3 bedrooms/2 baths upstairs, full bedroom and full bathroom downstairs. Hard to find, this property has a separate one-bedroom ADU above the garage! Whether you’re entertaining family & friends or simply relaxing, you’ll love the flow of this spacious open concept family room with 18’’x18’’ tile flooring, and two sets of modern Fleetwood-style sliding doors leading onto a private covered courtyard.

Perfect for morning coffee or an evening glass of your favorite libation! Chef’s kitchen is complete with center island, plentiful beechwood shaker cabinets, under-cabinet counter lighting, granite slab counters with 6’’ backsplash, stainless steel undermount sink, GE Profile stainless steel appliances including a 36’’ gas cooktop. Owned solar, on demand hot water, high performance attic/ roof insulation, dual pane low E windows, & numerous energy efficient features.

Lori Prizmich DRE #01501948

530.845.3325 www.LoriPrizmich.com

$1,198,000

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THE REAL ESTATE REVIEW

The Davis Enterprise, Friday, January 28, 2022

THE REAL ESTATE REVIEW

The Davis Enterprise, Friday, January 28, 2022

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THE REAL ESTATE REVIEW

The Davis Enterprise, Friday, January 28, 2022

Planning to Sell?

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THE REAL ESTATE REVIEW

The Davis Enterprise, Friday, January 28, 2022

Appliance replacements REAL ESTATE 101

You may have noticed that many industries — including home construction and home appliances — are experiencing significant supply shortages. Consumer Reports said that pandemic-fueled supply chain disruptions are still affecting large appliances and, at the same time, consumer demand remains high.

“The new normal is fewer choices,” says Ken Miele CEO of the Appliance Dealers Cooperative. “We dealers can only sell what we have.”

Waits of four to eight weeks for products are common, and some higher end items can take months. Manufacturers have kept lean workforces for decades, Consumer Reports says, and that mindset is catching up with them now as the COVID-19 pandemic pinches parts suppliers. Furthermore, there aren’t enough transportation workers to carry parts and even finished goods around the world. All of these factors formed the perfect storm to cripple the large appliance market.

But that doesn’t mean that you still can’t get a deal.

Consumer Reports says that while you may not be able to haggle on price, you might negotiate fees for delivery, installation and disposal, as well as with accessories such as hoses and electrical cords.

“Our guys want the business, so they’re going to make sure the customers are happy,” Miele says.

Independent dealers like the ones Miele represents can often match boxstore prices and can offer you perks like in-house service or a loaner machine while you wait for your new appliance, Consumer Reports says. Get on independent dealers’ waiting lists if you can, the magazine advises.

“We’re getting a good supply of product. We’re just filling orders more slowly than before,” Miele says. Cooperative

buying groups like Miele’s put independent buyers on similar footing to large-volume sellers.

If you do find discounts, they may not be as large as you’ve seen in the past.

Fridge discounts, for example, are average around 12% where, in the past, discounts were 28% in 2019 and 14% last year. Gap Intelligence found that, among large retailers, Best Buy offered the most instant savings on ranges, with consumers seeing the most savings when they bought a bundle of several appliances at once.

“Discounts may appear similar,” says Seth Barham, managing director at Wedbush Securities and an industry analyst who covers appliance retailers,” but base pricing or other factors will likely make the products more expensive compared with last year.

Consumer Reports suggests using online tools to research, including retailers’ online filters to narrow your appliance search. Prioritize your needs and be ready to be flexible with features. More niche items, such as specialty finishes, Consumer Reports market analyst Nish Suvarnakar says, are manufactured in smaller batches and may not be available.

To get a model today, Consumer Reports suggests looking at floor models with some cosmetic flaws. You may also score a better price, too. Remember, though, that open box deals may be missing nonessential parts that you’ll need to replace it of your pocket.

—HomeWise

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THE REAL ESTATE REVIEW

The Davis Enterprise, Friday, January 28, 2022

w ie v e R s e m o h yolo

NUARY 14, 2022

E · FRIDAY, JA THE DAVIS ENTERPRIS NTERS & BEYOND ·

WI DAVIS, WOODLAND,

2025 Catalina Drive

/MAX Gold, page 3

RE Offered by Joe Kaplan,

The Davis Enterprise

2022

Yolo Homes Review

COURTESY PHOTOS

Upcoming Publishing Dates for 2022 February 11, 25 • March 11, 25 April 8, 22 • May 6, 20 • June 3, 17 • July 8, 22 August 5, 19 • September 9, 23 • October 7, 21 November 4, 18 • December 2, 16

THE REAL ESTATE REVIEW

The Davis Enterprise, Friday, January 28, 2022

Lyon Real Estate

LISTING & SELLING DAVIS REAL ESTATE FOR OVER 50 YEARS.

Terry Almeida 530.574.7408

Jenna Dougherty 530.280.0330

Sam Kerrigan

Susan Anselmo 530.908.6177

Martha Bernauer 530.304.4208

Janice Bissell

530.761.8697

Yvette Bonneau 530.302.7236

Kim Eichorn

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Kim Merrell Lamb

530.304.4947

530.220.7866

530.902.0062

858.442.2225

916.996.4724

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René Mendieta 530.312.8488

530.219.4390

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209.815.7905

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707.337.5124

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707.225.5656

Marcelo Campos 530.848.1433

Nicole Ann Cheuk 408.646.7584

Maren Heise

Lacey Hilliard

Alexia Johnson 916.770.1000

530.312.0508

Amanda Mason

530.400.3834

530.309.8696

Craig Jones

530.574.0563

707.712.0944

Danny Lau

Karen Lemcke

Brittany Maranville

Tanner Mohr

Atsuko Rivette

Sabrina Chavez Rubi

Stephen Nesbitt 530.848.3497

530.304.2876

Valerie Thompson

Donna Valadez

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530.400.5003

530.924.0567

619.327.8792

530.746.1795

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707.372.8048

707.927.6291

Luisa Nye

Manager

530.220.4183

Lyon Real Estate Davis | 401 2nd Street, Davis | 530.758.0720 | GoLyon.com/offices/Davis

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THE REAL ESTATE REVIEW

The Davis Enterprise, Friday, January 28, 2022

NEW YEAR, STILL A SELLER’S MARKET! Contact Kim if a move is on your radar!

SOLD FOR $1,305,000 WITH 9 OFFERS!

PENDING SALE WITH 4 OFFERS

812 Zaragoza Street

$1,050,000

819 North Campus Way

$875,000

4 Beds • 2 Baths • 1,848 Sq. Ft.

3 Beds • 1.5 Baths • 1,502 Sq. Ft.

A completely remodeled home with over $350,000 in upgrades and top of the line finishes!

Classic Oeste Manor home in a great Central Davis location has been remodeled throughout�

KIM’S 2021 SOLDS

530.304.4947

kimeichorn.com keichorn@golyon.com

CA DRE# 01196250

823 Peregrine Avenue �������������������� $1,617,428 39678 Lupine Court ������������������������ $1,400,000 602 Georgetown Place�������������������� $1,340,000 20 Parkside Drive ��������������������������� $1,320,000 983 Pierce Lane ������������������������������ $1,317,000 39614 Primrose Place �������������������� $1,293,300 5414 Tufts Drive ������������������������������ $1,270,000 2812 Corona Drive �������������������������� $1,250,000 3802 Gaviota Place ������������������������� $1,217,000 1518 Willow Lane ���������������������������� $1,200,000 426 Sandpiper Avenue �������������������� $1,156,500 1040 Pierce Lane ���������������������������� $1,125,000 659 Equador Place�������������������������� $1,077,000 3409 Morro Bay Avenue������������������ $1,050,000 539-541 J Street ����������������������������� $1,030,000 808 Villanova Drive ������������������������� $1,022,000 626 B Street ������������������������������������ $1,000,000 708 Robin Place ��������������������������������� $995,000 914 Plum Lane����������������������������������� $975,000 1256 Antelope Avenue ����������������������� $960,000 1950 Alicante Street �������������������������� $950,000 726 Falcon Avenue ����������������������������� $925,000

2316 Rodin Place ������������������������������� $901,000 1676 Harvest Drive ���������������������������� $899,995 918 Colby Drive ���������������������������������� $899,000 1508 Eligio Lane �������������������������������� $890,000 2129 Pollock Court ���������������������������� $862,000 1000 Plum Lane��������������������������������� $860,000 802 North Campus Way ��������������������� $800,000 1608 Clemson Drive �������������������������� $799,000 879 Linden Lane �������������������������������� $778,602 637 Rutgers Drive ������������������������������ $775,000 801 Anderson Road ��������������������������� $770,000 558 Villanova Drive ���������������������������� $749,000 1515 Union Drive ������������������������������� $741,000 3621 Koso Street ������������������������������� $730,000 3230 Albany Terrace �������������������������� $729,900 3506 Monte Vista Avenue ������������������ $726,000 1327 Via Colonna Terrace������������������ $675,000 2333 Roualt Street ����������������������������� $673,100 2403 Whittier Drive ���������������������������� $670,000 1206 Farragut Circle �������������������������� $655,000 2102 Whittier Drive ���������������������������� $650,000

1506 Manzanita Lane ������������������������ $646,500 834 Atwell Circle, Woodland�������������� $650,000 937 Chestnut Lane ���������������������������� $640,000 2306 Temple Drive ����������������������������� $630,000 2618 Temple Drive ����������������������������� $615,000 426 K Street ��������������������������������������� $599,000 2679 Briscoe Court, Woodland���������� $570,000 9604 Glacier Creek Way, Elk Grove ��� $554,550 628 Poplar Drive, Woodland �������������� $540,000 910 L Street���������������������������������������� $547,000 713 K Street ��������������������������������������� $533,625 4102 Cowell Boulevard ���������������������� $522,000 2105 E� 8th Street ������������������������������ $499,000 3317 Monterey Avenue ���������������������� $499,000 834 Walker Street, Woodland ������������ $499,000 3031 Oyster Bay Avenue �������������������� $480,000 4162 Cowell Boulevard ���������������������� $465,000 609 Court Street, Woodland �������������� $420,000 1311 Drake Drive Unit C �������������������� $395,000 133 Elliott Street, Woodland�������������� $345,000 1907 Donner Avenue #4 �������������������� $335,000