Duplex For Sale in Sacramento

October 4, 2016 § Leave a comment

Sold ! Elk Grove Light Fixer Upper 

July 31, 2016 § Leave a comment

A big thank you to TiAmo Images for the photography and drone footage. 

25 mls and media ready photos and 2 flyovers helped me market the home in the ❣of Old Elk Grove. 

Congratulations to the new homeowners.

3 Homes Pending — 1 to Go! Let’s Get Into Contract Today

June 20, 2016 § Leave a comment

Open House @ 808 N Hobson Avenue

Just Listed!

Just Listed!

Alex from our sister real estate brokerage, Legacy Properties is holding 808 N Hobson Avenue OPEN from 12pm-3pm on June 26, 2016.

List Price $389,000
A beautifully remodeled gated home with 5 bedrooms, 2.5 baths and a huge, yes, huge lot!

Using 2 VA Loans Simultaneously

April 5, 2016 § Leave a comment

What is 2nd tier entitlement?

In the past 6 months I have seen this strategy used twice. A VA buyer on one of my listings used her VA loan to purchase a second property.

I loved Jack Black in School of Rock.

After hearing the phrase, second tier entitlement I contacted a representative at Cal Vet to explain the program to me.

Basic Entitlement

The basic entitlement available to each eligible Veteran is $36,000. Lenders will generally loan up to 4 times a Veteran’s available entitlement without a down payment, provided the Veteran is income and credit qualified and the property appraises for the asking price.

Remaining Entitlement

Veterans who had a VA loan before may still have “remaining entitlement” to use for another VA loan. Most lenders require that a combination of the guaranty entitlement and any cash down payment must equal at least 25 percent of the reasonable value or sales price of the property, whichever is less. Thus, for example, $23,500 remaining entitlement would probably meet a lender’s minimum guaranty requirement for a no-down payment loan to buy a property valued at and selling for $94,000. You could also combine a down payment with the remaining entitlement for a larger loan amount.

To learn if you can make a second purchase right now while you have a first mortgage contact a lender well versed and experienced with at least two of these types of transactions closed. Your eligibility depends on many factors tied to your service and current financial situation.

If you need more information or help, feel free call or email me.  

Thank you for reading.

Sheena Reithmeier
California Bureau of Real Estate
License # 01790507
Code 3 Realty

VA Loans = Home Ownership

January 30, 2016 § Leave a comment

Got to love the listing agent that is 100% open to a VA loan.  

The agent’s email reply made my day. 

Yes, there are some properties that just will not be able to accept a VA loan, however there are plenty that do and having an awesome agent on the other side lobbying for your buyer as well is a great thing. 

At this very moment, I have three VA buyers and one was accepted on their offer Wednesday evening. Another one starts the house hunt this weekend. And the third is on his way to homeownership as soon as I write up an offer on this listing agent’s property.  Are you a veteran from active duty or the Reserves and are unsure where to start?

Ask for help on how to get a VA loan accepted. 

If you’re a Realtor and are just a little hesitant to consider accepting a VA loan on your listing or you are tasked with writing VA offers for your buyer start by talking to fellow agents in your office, agents you have enjoyed closing a deal with and if you don’t want to do that feel free to call or text me.  I will hash it out with you so you can have a game plan. 

We all have a common goal of assisting our buyers and sellers and you would be surprised how many agents are truly happy to talk shop, help each other and see you succeed. Good luck out there and do not forget to thank everyone in uniform you see for their sacrifice and for serving our country.

Let ‘er rip, tater chip 

Rehab Progress Report 

November 3, 2015 § Leave a comment

Here are photos from the bath remodel coming along nicely in Citrus Heights.

sheena reithmeier realtor
Look at those pretty greys and marble mosaic floor tile. It will be so beautiful when the job is completed.

Coming Soon 

October 14, 2015 § Leave a comment

Two homes to be completely remodeled and move in ready are coming to the market before Thanksgiving.

Citrus Heights

  • West of I-80
  • 3 bedrooms, 1 bath
  • Considering adding onto master bedroom and putting in another bath
  • Possible list of $224k unless additions are made

West Sacramento

  • Off Todhunter
  • 3 bedrooms, 1 bath
  • Current market suggests @ $212,000

Data will be reviewed prior to list for any adjustments necessary.

Only cash and Conventional loans are eligible to purchase a flip the first 90 days the home is owned by the investor.

  • In some markets we see homes sitting and on Day 91 you can submit FHA or VA, CalVet offers
  • There are lenders that can do 3% and 5% down conventional loans allowing you to get a jump on FHA buyers for property flips.

Ask your lender how much home you qualify for with a 3 or 5 percent down conventional loan.  Often the purchase price / loan limits may change and you can afford less home than a FHA or you may not qualify for conventional at all.

The goal is to find out if you can qualify for both types of loans, and at what purchase amounts.

Please call, text, or email me if you have any questions. Thank you for reading, and sharing.

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