Your Living Lifestyle November 2023

YOUR Lifestyle LIVING

November 2023

THANKSGIVING PREPARATION TIPS COMMUNITY CALENDAR MARKET UPDATE MORTGAGE UPDATE

PRESENTED BY SANDY CRICHTON FINLEY COLDWELL BANKER C & C PROPERTIES

THANKSGIVING PREPARATION TIPS

Start in early November with planning the guest list and menu.

Now is the time to clean out the pantry and make a list of everything you will need for the big day.

About a week ahead start decorating and borrowing extra chairs and tables from friends if needed.

Go ahead and purchase things that will last and start thawing the turkey. Remember to allow one day for each 4-5 pounds of turkey.

A couple days before, purchase the remaining food items. Send texts to get a final guest count and start planning a cooking schedule. Consider preparing as many things as possible a day ahead.

Enjoy your Thanksgiving Day!

PLACER

MARKET UPDATE

ROSEVILLE 229

$745,814

1.9

NEW LISTINGS

AVG. LIST PRICE

MONTHS OF INVENTORY

118

$724,168

35

AVG. SALE PRICE

DAYS ON MARKET

HOMES SOLD

ROCKLIN

LINCOLN

110

$963,226

1.8

139

$839,868

AVG. LIST PRICE

MONTHS OF INVENTORY

41

NEW LISTINGS

NEW LISTINGS

AVG. LIST PRICE

MONTHS OF INVENTORY

61

$765,933

37

59

$680,458

41

AVG. SALE PRICE

DAYS ON MARKET

HOMES SOLD

AVG. SALE PRICE

DAYS ON MARKET

HOMES SOLD

Market Trends

GRANITE BAY 45

$1,512,578

3.5

NEW LISTINGS

AVG. LIST PRICE

MONTHS OF INVENTORY

13

$1,277,611 AVG. SALE PRICE

HOMES SOLD

LOOMIS & NEWCASTLE 41

$1,842,944

4

NEW LISTINGS

AVG. LIST PRICE

MONTHS OF INVENTORY

56

10

$1,521,512

DAYS ON MARKET

HOMES SOLD

88

AVG. SALE PRICE

DAYS ON MARKET

Business Spotlight Grant’s Premier Solar Cleaning Solar Cleaning Window & Gutter Cleaning Pressure Washing

530-592-6619 grantbenedict8@gmail.com

Licensed and Insured

Serendipity & Social Will be at Live Oak Tavern Event Center For the Placer Arts Tour Come visit us @ Saturday Nov 11 10:00 AM-12:00 PM Friday Nov 17 10:00 AM-2:00 PM 4:00 PM-6:00 PM Saturday Nov 18 10:00 AM-12:00 PM

Capitalizing on Todays Market with a Bridge Loan Part 1 A Strategic Way to Buy ‘Non-Contingent’ to the Sale of Your Current Home Many times, homeowners find themselves in a situation where they need to move but also need to sell their current home to do so. The primary reasons why this is the case is because either they need the equity from their current home to put down on their next home, they don’t qualify for another mortgage with their existing mortgage, or both. When people are in this situation, a common way to go about is to buy their next house ‘contingent to the sale of their existing home’. While in theory this can work, there’s often too many hurdles to overcome to be able to pull it off.

The main hurdle is getting a contingent offer accepted. Top homes in today’s market have lots of competition on them in which sellers of these properties find their home in high demand. Perhaps it’s the layout, the upgrades, the features, the location, or all the above. Whatever the reason, these homes have lots of buyers lining up with strong offers competing against each other. If one of the offers is contingent to the sale of a property, and all things equal, another offer is not, guess which offer is accepted? Often what happens is the person making the contingent offer has to go well above the other offer to get their offer accepted leading to potentially ‘overpaying’ for the home.

The obvious solution to this situation is for the person to sell their home first, then, after having sold the home, the previous homeowner is able to make a non-contingent offer. The main hurdle with this strategy is being with out a home during the in between period of selling their home and buying the next home and all that comes with that such as finding a place to live, and all the things required to move twice. Not to mention the risk of being out of the market and potentially not finding a new place to call home.

A better solution is to use a ‘bridge loan’. Here are the nuts and bolts of a bridge loan: -The bridge loan allows the homeowner to take out some of their equity to use as a down payment on their next home.

-Their exiting loan on their current residence is paid off in the bridge loan and the bridge loan doesn’t have a mortgage payment requirement. This allows the homeowner to qualify for their next mortgage with out having to qualify with two mortgage payments since the bridge loan doesn’t have a monthly payment.

-The homeowner can get a new loan on their next property using the cash out proceeds from the bridge loan along with any other funds they have available to put down on their next property.

-The homeowner has 12 months to sell their previous residence after closing on the bridge loan. This gives them plenty of time to move out and get settled at their next place then turn their attention towards touch up repairs, upgrades, staging, listing photos, etc. so that their home goes on the market in showcase condition ready to attract top dollar.

Want a copy of part 2 before the next newsletter? Send me an email!

INTERESTED IN WHAT YOUR HOME IS WORTH? SCAN THIS QR CODE

FOR A FREE home valuation!

Sandy Crichton-Finley 916.397.8649

YOURLIVINGLIFESTYLE.COM

DRE#01470257

COMMUNITY CALENDAR

November NOV 10 FOOD TRUCK MANIA 5-8 @ ROSEVILLE DOWNTOWN NOV 10-13, NOV 17-19 PLACER ARTIST TOUR @ LIVE OAK TAVERN EVENT CENTER NOV 30 ROSEVILLE TREE LIGHTING @ VERNON STREET

December

DEC 2 HOLIDAY BOUTIQUE @ 541 5TH ST LINCOLN DEC 3-4 PLACER WINE TRAIL HOLIDAYS IN THE HILLS 12-5 @ PLACER WINE TRAIL WINERIES DEC 2 ROCKLIN TREE LIGHTING @ QUARRY PARK DEC 2 FESTIVAL OF LIGHTS PARADE 5:30-6:30 @ AUBURN DEC 2 HOMETOWN CHRISTMAS PARADE & TEE LIGHTING @ 640 F ST DEC 9 & DEC 16 OLD TOWN AUBURN CHRISTMAS 5-9 @ DOWNTOWN AUBURN

INTERESTED IN WHAT YOUR HOME IS WORTH? SCAN THIS QR CODE

FOR A FREE home valuation!

Sandy Crichton-Finley 916.397.8649

YOURLIVINGLIFESTYLE.COM

DRE#01470257