Home Buying in Elk Grove>Question Details

Helen, Home Buyer in San Jose, CA

I want to buy a house at Elk Grove, next to Sacremento.

Asked by Helen, San Jose, CA Tue Aug 19, 2008

Do you think it is a good locatin for investment,and when do you think it is good time to buy?

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Dear Helen: Elk Grove is good except that all of my rental surveys show a lot of rental inventory. If you have the ability to wait for a renter and to offer a little less than other rentals in the area to get a suitable tenant sooner, great. If not, there are other areas in Sacramento with less rental inventory and more demand.

Examine your goals for this investment. Are you looking for long-term appreciation, positive, even or negative cash flow, tax benefits, etc., etc., etc.?
Web Reference: http://SoldByErin.net
0 votes Thank Flag Link Tue Aug 19, 2008
Elk Grove is abundant with foreclosed homes, and the bargains are plenty. I have a new listing coming this next week that is bankowned. 3500 square feet for around $329K. But for your objective, I would think that would not make a good rental.

When looking for an investment property, I would suggest you define even better the objectives that you're looking for. For example, no pool, under 2000 sq feet...whatever it is that is more attractive to the tenant market. But Elk Grove might be a good area to look, just determine more specific objectives if it's for a rental.
Web Reference: http://www.suearcher.com
1 vote Thank Flag Link Tue Aug 19, 2008
Yes and yes. Other good Sacramento investment areas, because they have been hit so hard by foreclosures, prices are also low in: Natomas, West Sac, Rancho Cordova, North Highlands, Meadowview, Florin Perkins, Fruitridge Area, Oak Park, Tahoe Park, Rosemont, North Sacramento, Del Paso Heights, Robla, Rio Linda and Elverta. In Placer County: Lincoln.

Areas with prices still high with comparable lighter foreclosure activity are mid-town, East Sac, Arden, Carmichael, Fair Oaks, Folsom and Granite Bay. - Lovely towns and areas, investment in one of these is for future appreciation not current cash flow.
0 votes Thank Flag Link Wed Aug 20, 2008
Jim Walker, Real Estate Pro in Carmichael, CA
MVP'08
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Yes, it's a decent location and not a bad time to buy considering prices and interest rates.
0 votes Thank Flag Link Tue Aug 19, 2008
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