I have a relative living out of the country looking for property in California. They are looking for a SFH within 1.5 hour drive of a UC Campus and preferably closer to Sacramento. They have cash, but budget is $100k. Know of any cities/neighborhoods where I could target my search that might get close to their needs?
Yes, the Sacramento single family house has 3 beds and 2 baths for 99K, link at https://www.redfin.com/CA/Sacramento/156-Bell-Ave-95838/home/19188684.
are we talking 100k and live-able or 100k + rehab....
Thanks @John J. I called the agent yesterday. Multiple offers and don't bother for less than $150K.
That house is a short sale in a not so desirable area. There really isn't anything good in Sacramento that is very good under $150 and I'm guessing all of those are getting multiple offers, if they are worth anything. On houses over $200k most of the sales I have seen recently are going for $10k over ask.
Besides being an active investor I have my RE license. I just checked MLS and there are only 35 SFR listed under $150k in the general Sac area. I also looked at the homes towards S. Sac and they are all condo's or half plexes listed incorrectly.
That's a pretty low number when you consider how many homes there are in town.
If you have cash to buy then I'd recommend getting a loan and buying a decent house. If they are set in being within an hour and a half of Sac then look down towards Stockton or up towards Yuba City. Not sure what is there or how good the neighborhood will be but the odds of finding a home there are better.
Here is a new one with 3 beds and 2 baths for 91K, nice house, https://www.redfin.com/CA/Sacramento/3817-Alder-St-95838/home/19171774
@Maria D. David Huston is correct in that the lowest homes are 150k or more and they are not in good areas. John j has posted a house that is not in a good area and the reality is that the owner is not selling for that low price. He wants to sell it rent to own which is another term "for rent".You can call the guy and verify that. The 95815 and 95838 zip codes are not good areas. They could be good for owning rentals at the right price. You can find a couple of homes for sale under 100k up north in Oroville. They will be very small, beat up and you just have to make sure you dont live next door to tweakers.
If your relative is serious about buying, find an agent that you trust and that knows Sacramento to get some help. Throwing out houses to look individually without knowing more about what your relative is looking for most likely won't work. You may as well go on Zillow and set the parameters for price of under $100k and see what pops up.
I definitely wouldn't go buy a house without someone representing them. There usually isn't a cost to the buyer so why not get the extra help for free?