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KAYE SWAINKAYE SWAIN

Kaye Swain Roseville REALTOR - Specializing in Over 55 Communities in Roseville CA Area

9167680127
KayeSwainRE@gmail.com
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Millennials Are Increasing the Demand for Condominiums

Thank you for sharing....

Kaye Swain Roseville REALTOR sharing condo information

Millennials Needs

When deciding to buy a home, people are presented with many different options. The type of home you buy depends on your needs, budget, and in many cases, the desired maintenance level. For many millennials, their choice has been buying a condominium! So many are on the hunt for 

According to CoreLogic,

“Last year about 43% of all condo home-purchase mortgage applications were submitted by FTHBs… Similarly, the data show condos were more popular with young homebuyers and empty nesters. For instance, 21% of all condo home-purchase mortgage applications were submitted by buyers aged 18 to 30, compared with just 17% of all single-family home-purchase mortgage applications by the same group in 2018.”

With home prices increasing year-over-year, it makes sense millennials are buying condos for sale in Rocklin CA, Roseville, Lincoln, and other areas in our Placer Sacramento area instead of a single-family house. As a result, the demand for this type of home has been increasing.Kaye Swain sharing info about roseville condos sale and moreAs this graph explains,

“The younger millennials are the largest cohort and are likely to drive much of the condo demand in the coming years”.

A Couple of Condominium Caveats!

FHA Approved?

As I explained in a previous article, condos can have some extra issues. One vital one to check into is whether the Rocklin condominiums you are interested in accept FHA loans. NOT ALL ROCKLIN CONDOMINIUMS DO. And sadly, there are no condos in Roseville CA currently that are allowed to. BUT there are TWO Rocklin condo communities where you are allowed to get an FHA loan:

  • Club Pacific Condominiums Rocklin CA
  • Hearthstone Condos, Rocklin CA

There are at least four other Rocklin Condo Communities and four Condos in Roseville CA but at this moment in time, none are showing up as approved for FHA loans.  From what I've seen of them (I've seen most but not all, they look lovely and worth checking out, you just can't do an FHA loan with the 3.5 down payment. I have heard of some conventional loans with only 3% down and if that interests you, let me know. I have a great lender who can help you with the ins and outs of any of these loans.

One more thing to consider. I learned from a wise real estate teacher in college – when you buy, always think re-sale. So when you are considering which of the lovely condos for sale in Rocklin, Roseville and the surrounding area you want to buy, remember that it might be easier to sell it later if it is FHA approved – even if YOU don't need that.

Not All Boxes for Condos May Be Checked

I'm not sure how it happens but I just did a check on the Sun City Lincoln Condominiums for 55+ active boomers and seniors. My search for “condos” turned up 4 sold in the last 5 months. My map search for the condos turned up 7 homes sold in the last 5 months. And in case you are wondering, NONE are for sale at this moment in time, though that could change any second. So my best recommendation is to call me and let me set you up with MLS direct emails for when one of those is available – and I'll do it two ways, just to be sure we see them all!   KayeSwainRE@gmail.com 916-768-0127 🙂

Bottom Line for Roseville Rocklin Area

If you are a millennial considering buying a home, understand that there are options available in our area including Rocklin and Lincoln. You may find yourself in a condominium as your first home. If you would like to determine which type of home best fits your needs, let’s get together to evaluate your options!

Kaye

P.S. Check out some of the lovely and affordable condos for sale in our area:

Condos for sale in Rocklin CA

Condos for sale in Roseville CA

Condos for sale in Lincoln CA

Over 55 Condos Sun City Lincoln Hills For Sale

These searches are updated immediately when new homes are listed, so if one of the categories above is empty, check back daily as that can change often. 🙂

Contents of this article...

  • Millennials Needs
  • A Couple of Condominium Caveats!
    • FHA Approved?
    • Not All Boxes for Condos May Be Checked
  • Bottom Line for Roseville Rocklin Area
    • Condos for sale in Rocklin CA
    • Condos for sale in Roseville CA
    • Condos for sale in Lincoln CA
    • Over 55 Condos Sun City Lincoln Hills For Sale

Posted in: Roseville Area Tagged: real estate, Real Estate Market, real estate news

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Kaye Swain REALTOR in Roseville CA real estate news and services including aging in place-multigenerational boomers and seniors old and vintage houses and first time home buyers

Hi and Welcome to KayeSwain.com.

Are you looking for homes for sale in Roseville CA and the surrounding area? I appreciate your stopping by and invite you to check out the various options available - from blog posts to inform you about this lovely Greater Sacramento Valley Area, to home searches you can set up - such as homes for sale Roseville, Lincoln, Rocklin, Granite Bay, Citrus Heights, Carmichael, Fair Oaks, etc, to fun real estate eye candy and more. And yes! This is true for residential neighborhoods, condo communities, and all of our lovely 55+ active senior retirement communities. If you have any questions about buying OR selling your home in Roseville or the surrounding Sacramento area, do give me a buzz at 916-768-0127 or email us at KayeSwainRE@gmail.com We're here to help you and your family with your real estate needs.

Kaye Swain Sun City Roseville Real Estate Agent

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Resources for Buyers

The Ultimate Home Buyer's Guide

Resources for Home Sellers

Click here for Kaye Swain’s ebook -> Your Home Sellers Guide 

 

 

Resources for Boomers and Seniors

  • Seniors First Resource Guide
  • John Palley,Attorney – Certified Specialist in Estate Planning, Trust and Probate Law – offers an excellent and free book you can download as a pdf – “How to Live & Die With California Probate.” (Scroll to the bottom of his page and click the photo of the book)

 

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Kaye Swain Roseville Real Estate Agent, 916-768-0127, KayeSwainRE@gmail.com, CalBRE#01966207, with Keller Williams Realty, 548 Gibson Drive, Suite 200, Roseville CA 95678, (Each office is independently owned and operated)

If you have a brokerage relationship with another agency, this is not intended as a solicitation. Equal Opportunity Housing Provider.

Use of this site means you agree to the Metrolist Terms of Use. The content relating to real estate for sale on this web site comes in part from the IDX program of the MetroList MLS Services. Listing content is copyright © 2017 MetroList MLS Services. All information provided is deemed reliable but is not guaranteed and should be independently verified. The information provided is for consumers. personal, non-commercial use and may not be used for any purpose other than to identify prospective properties for purchasing. Please contact Kaye Swain Real Estate directly for additional information pertaining to the status and availability of properties displayed on this website.

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