Folsom Homes for Sale & Real Estate Listings

The real estate market in Folsom, CA, is currently experiencing strong demand and steady growth. As of 2024, the median home price in Folsom is around $650,000, reflecting a year-over-year increase of approximately 6%. The area is known for its family-friendly atmosphere, excellent schools, and proximity to Sacramento, making it a desirable location for buyers. The market is competitive, with limited inventory and quick sales times.

When choosing a neighborhood in Folsom, consider factors such as the quality of local schools, proximity to amenities like shopping centers, parks, and recreational facilities, and the overall safety and community atmosphere. Additionally, evaluate commute times to work, access to major highways, and future development plans in the area. It's also important to consider the neighborhood's vibe and whether it aligns with your lifestyle and preferences.

To get pre-approved for a mortgage in Folsom, gather financial documents such as proof of income, tax returns, and your credit report. Contact a reputable mortgage lender to submit an application. The lender will review your financial situation and provide a pre-approval letter indicating the loan amount you qualify for, which will strengthen your position as a serious buyer in the competitive market.

Home buyers in Folsom have access to various mortgage options, including conventional loans, which are ideal for those with strong credit and a substantial down payment, FHA loans that require lower down payments and are suitable for first-time buyers, VA loans available to veterans and active-duty service members offering competitive terms, and jumbo loans necessary for purchasing high-value properties exceeding conforming loan limits.

When buying a home in Folsom, budget for additional costs such as closing costs, typically ranging from 2-5% of the purchase price, covering fees for appraisal, title insurance, and lender charges. You should also consider property taxes, which vary based on property value and local tax rates, homeowners insurance essential for protecting your investment, potential HOA fees if the property is within a homeowners association, and costs for home inspections and any immediate repairs or upgrades needed after purchase.

First-time home buyers in Folsom can benefit from several assistance programs. These include CalHFA loans, which offer down payment assistance and low-interest loans, the MyHome Assistance Program providing deferred-payment junior loans for down payment and closing costs, and various local grants and programs that may offer financial support or special financing options tailored to first-time buyers.

When buying property in Folsom, consider factors such as local zoning laws, environmental regulations, and property tax rates. Additionally, assess the potential for natural hazards like wildfires or floods, given the area's terrain and climate. Researching long-term development plans can also provide insights into future changes that may affect property values and community dynamics.

To find a reliable real estate agent in Folsom, CA, you can start by exploring online platforms. Additionally, you may consider reaching out to Turner Demarco + Friedman Team, a reputable real estate team known for their proficiency in Folsom real estate market. You can contact them directly for personalized assistance and guidance in your real estate endeavors.