Rentals in Rocklin>Question Details

Olga Philips, Renter in Rocklin, CA

We are moving it for a new job. Rocklin area ha best school. Would it be better rent or buy?

Asked by Olga Philips, Rocklin, CA Thu Sep 6, 2012

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Jim Walker’s answer
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Real Estate agents that belong to Metrolist have a rent versus buy analysis tool that can answer the question for the general rent and price range that you are seeking. - and for a specific house that you may be interested in. The tool can use the assumption that you would consider buying a house that is equivalent to an available rental if your monthly cost is the same or lower.

I agree with Ken P. In most cases a home priced under $400K will cost you less to own than to rent.
Finding a rental home that is worth more than that may be difficult since fewer of the higher end houses are investor owned.

Regarding the inventory, a subject Ken brought up: : There are currently 74 single family homes for sale in Rocklin. There are 209 homes in escrow, pending to sell. On average, seventy to eighty homes closed escrow every month this summer. That tells us that we have about one month of inventory. The most desirable listings go pending sale within a day or two, A listing that is two weeks old is long in the tooth.
3 votes Thank Flag Link Thu Sep 6, 2012
Jim Walker, Real Estate Pro in Carmichael, CA
MVP'08
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Whenever you are moving to a new area, it is always a good idea to rent, even if it's just for a few months. You quickly establish your favorite grocery store, parks, and other frequent stops. Once you know that, it is much easier to pick a specific area to look for a home and you are buying with a much higher degree of confidence. For more information on Rocklin schools and other local amenities, visit our website: http://www.teampattersonrealty.com.
1 vote Thank Flag Link Sun Aug 25, 2013
Good post Kirsten! Some people can make a flash decision. Some people need the time to become more comfortable. A home purchase is a big decision. I know from personal experience that when relocating to a new area you really need to trust the agent you are working with. Not pushing clients is obviously the best approach regardless of appreciating or depreciating markets.
Flag Fri Dec 13, 2013
Good advice in a market at low appreciation. Maybe good advice for Sept 2013. However, If Olga had gotten this advice a year ago when she first posted she would have seen her $300,000 price range for Rocklin evaporate.
Prices skyrocketed during the one year interval, and interest rates crept up.
Flag Sun Aug 25, 2013
Definitely buy if you can find the right place. Rocklin is the best community for raising children, we love it...moved here 10 yrs ago from Salinas, where we couldn't have the kids in public schools. Very happy to be here! You'll not regret buying, the market is very low (compared to before) and you'll not likely find these prices again (its rebounding fast from the real estate implosion). Rates are the lowest ever....can you tell I'm a real estate underwriter? My kids will tell you & I agree that Whitney is the best high school, but the core of the community love

We couldn't find the right place when we moved (job transfer) rented & was sorry because we found the house we wanted right away & had 2 housing payments for approx 5 mos! Not fun....
1 vote Thank Flag Link Tue Feb 26, 2013
Hello Olga. You can search for open houses that are advertised through the MLS on my website at http://www.themlshub.com, but not all agents post their open houses in the MLS. You'll find many by just driving around the neighborhood.

I would recommend you get your own buyer's agent who represents your best interests only and is not also representing the sellers. You will find a lot of short sale listings in your price range which means that the offer the seller accepts still needs the approval of the seller's lender(s). Since many homes that come on the market will receive multiple offers, there is also the temptation of overbidding to get an accepted offer. However, that can cause problems because the home may not appraise for the purchase price, but you won't find out until after you have spent $400 for the appraisal. The agent who represents you should prepare a comparative market analysis for you before you write up any offers to let you know what a reasonable price for the property is. Unless you are a cash buyer who is not worried about the appraised value, you really must keep the appraisal value in consideration. You may also encounter homes that are purposely underpriced to create a bidding war. Another reason why you should work with a buyer's agent who will tell you when a home is underpriced.

Properly priced homes in Rocklin sell quickly in your price range. My most recent sale in Rocklin got 5 offers in the first 3 days and 4 of the 5 offers were over asking price. I had a buyer earlier this year who moved to Rocklin specifically for the schools. Whether you are better off renting or buying will depend not only on the financials but also your more long term planning. Unless there is a chance you may have to move soon again, I think buying would be economically more prudent because the total house payment for a $300,000 house will be less than what you'll pay for rent for a similar home.

Since you are not local, your availability to look at homes may be limited and you may want to consider a short term rental situation first so that you are able to look at homes that come on the market right away and you will avoid rushing into something that may not work for you long-term. I have a client who rented an apartement for a few months in Rocklin while she was looking and that approach worked really well for her as she was able to find her dream house. While this approach involves having to move twice, being able to take your time to find the right property may be well worth the trouble.

I hope this helps.

Feel free to contact me with any other questions.

Ute Ferdig
Broker-Owner (DRE # 01326917)
Ferdig Real Estate Solutions
916-751-1267
Web Reference: http://www.themlshub.com
1 vote Thank Flag Link Sun Sep 9, 2012
Ute Ferdig -…, Real Estate Pro in Newcastle, CA
MVP'08
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Thank you, gentlemen, for such a prompt response. We are planning to make a trip to Rocklin this Saturday to at least see the location. Are there any open houses for 4/2 under $300k do you know of? I have no idea what to expect.
1 vote Thank Flag Link Thu Sep 6, 2012
There will likely be a few less open houses than one would normally expect due to the lower inventory levels. For your price range, I would recommend checking out the Stanford Ranch area out of the gate. A couple good corners to start at and branch out from would be Sunset and Little Rock / Stanford Ranch and Darby / Fairway and Emerald...
Flag Thu Sep 6, 2012
Hello Olga,

Very common question for certain. Most times it boils right down to the numbers when the question is asked. Rocklin is an amazing area. I live there myself.

When you compare current prices along with interest rates against market rents, you will find that a monthly rent payment will exceed your mortgage payment on a similar home in Rollin just about every time. The catch is that right now lending is very tight and will require patience. In addition, available inventory in Rollin and surrounding areas is very low. So, finding a home will be more challenging than in years past.

If you are looking ofr some help in your search, my team and I would be very happy to assist. You might also want to check out my BLOG. One of my most recent posts discusses the inventory levels in Rocklin.

My email: ken@teampattersonrealty.com
My phone: 916-751-1800

Thanks! Ken
1 vote Thank Flag Link Thu Sep 6, 2012
We are relocating from Bay Area. And were considering to rent. But the prices to buy just too tempting :)
1 vote Thank Flag Link Thu Sep 6, 2012
Olga,

Thanks for clarifying.

Yes, Rocklin does have some of the best schools in the area. As a matter of fact, my wife is a substitute teacher and has taught at many schools in the Rocklin and Roseville schools. She has a lot of positive things to say about Rocklin Unified and Roseville Unified School Districts.

Renting is a viable option. Buying is also a good option now, being that the interest rates are and continue to remain historically low. It all depends on your current financial situation and what your long term goals are.

In real estate, it is all about Location, Location, Location. Rocklin is definitely in a great location. Close to Interstate 80, shopping (Galleria Mall), in addition to great schools, etc, Rocklin proves to be a great place to live.

Let me know if I can answer any further questions.

Thanks,

Ahmad Zeki, J.D.
Broker/Realtor
Flag Thu Sep 6, 2012
It wil most likely be better to buy rather than rent depending on your financial situation. Rocklin has an amazing school district.
0 votes Thank Flag Link Tue Jul 9, 2013
Also, the school ratings are amazing Valley View is a 10, Whitney area also has high rated schools. Also there are new home that were just built around here which are great looking homes.

Good Luck with your search - even if you don't choose me to help :)!
0 votes Thank Flag Link Fri Jun 14, 2013
In my opinion it is best to buy right now, rates are low, property values should still go up for awhile and you won't be sorry you moved to Rocklin. I moved from Chicago 15 years ago, my kids were born here, go to school here and I live in an amazing neighborhood. Come check it out! I would be happy to help!
0 votes Thank Flag Link Fri Jun 14, 2013
We are seeing low inventory and multiple offers! I believe it's a great time to invest in something that is appreciating. Why throw money away on rent, to someone else, when you can pay yourself :)

Sincerely,

Michelle Thompson
EDCAR Top Achiever Member, SFR
Executive Assoc. Lyon Real Estate
Working with sellers and buyers
916-804-2981
0 votes Thank Flag Link Sun Mar 3, 2013
3555 Mountain View form 1 to 4,
3419 Chatham from 1 to 6, is a 3 bedroom 2 bath.


Some other open houses are open on Sunday.
If you wanted to see
some of the other 4 bedroom+ 2 bath+ houses you would need to call me or email to set up showing appointments. I would be glad to do that.
0 votes Thank Flag Link Thu Sep 6, 2012
Jim Walker, Real Estate Pro in Carmichael, CA
MVP'08
Contact
Ken Patterson , Your spam filter on your active rain blog is over aggressive. I tried to leave my comment (same as this one) but the spam filter blocked it.
0 votes Thank Flag Link Thu Sep 6, 2012
Hey Jim, Thanks for taking a look and trying to leave a comment! Have not set spam filters on my active rain blog though. Interesting... KP
Flag Thu Sep 6, 2012
Jim Walker, Real Estate Pro in Carmichael, CA
MVP'08
Contact
Olga,

Thanks for clarifying.

Yes, Rocklin does have some of the best schools in the area. As a matter of fact, my wife is a substitute teacher and has taught at many schools in the Rocklin and Roseville schools. She has a lot of positive things to say about Rocklin Unified and Roseville Unified School Districts.

Renting is a viable option. Buying is also a good option now, being that the interest rates are and continue to remain historically low. It all depends on your current financial situation and what your long term goals are.

In real estate, it is all about Location, Location, Location. Rocklin is definitely in a great location. Close to Interstate 80, shopping (Galleria Mall), in addition to great schools, etc, Rocklin proves to be a great place to live.

Let me know if I can answer any further questions.

Thanks,

Ahmad Zeki, J.D.
Broker/Realtor
0 votes Thank Flag Link Thu Sep 6, 2012
Olga,

Thanks for your question!

Are you looking to move out of the Rocklin area or looking to buy?

Thanks,

Ahmad Zeki, J.D.
Broker/Realtor
Web Reference: http://www.ZekiHomes.com
0 votes Thank Flag Link Thu Sep 6, 2012
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