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Placer County Real Estate Sales Report

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Slow and Steady Wins The Race In The Placer County Real Estate Market

Despite news that pending sales have declined nationwide in April, click here for the article, the Placer County real estate market pending sales numbers, year over year, have shown a 5.5% increase.

Placer County Real estate data is again hyper local.  During the housing crash, national news was more relevant as the foreclosure news isolated California specifically.  Now that foreclosures are down to 1%, or less, of the total number of homes for sale, home sales data varies neighborhood to neighborhood making national news not as relevant as it once was.

Sales are down 15% or so but that hasn’t stopped pending sales or home values from increasing.  Make no mistake, the market here has slowed, no question, but while the rest of the country is experiencing very sluggish sales, Placer County real estate still remains strong.

Affordability, first time buyers being essentially absent from the market and the lack of investors now in our market has resulted in buying activity slowing.  If it weren’t for the fact that many home owners are still either underwater on their mortgages or just underwater enough not to be able to sell, there would be a downturn in prices in all likelihood as the total number of homes for sale would certainly be increasing.

Due to still underwater home owners, I think we’re dodging a bullet that many other areas of the nation are not.  It will still be some time before our market reclaims the home value heights we saw in 2006 before the crash but by that time, it’s likely the economic outlook regionally will be much stronger. (fingers crossed :-))

All with no government intervention. :-)

Given that California was one of 5 states that represented over 50% of foreclosures during the housing meltdown, we’re due some good news on a nationwide scale.

Placer County Real Estate Sales

As the graph and table show, sales are down almost 15% year over year however, pending sales are indeed up over last year.  What this looks like to me is a late start to the buying season.  Pending sales are up 5.5% and if you remember, at this time last year the real estate market was as hot as dancing on the sun so this in itself is a very positive sign.

The total number of homes for sale has also gone up which is a result of sales slowing more than an excess of homes coming on the market.

placer county real estate for sale sold pending

placer county real estate for sale sold pending table

The Placer County Average Home Sales Price Increases

The average home sales price in Placer County real estate has come up 11.5% over the last year.  If you notice in the graph, from March to April there was a significant jump in the average sales price of 6.7%.  That is an unrealistic jump in the average sales price from one month to the next so I would say that there must have been several higher end homes that closed that affected this number more than it has in past months.

The highest previous jump in the last year from one month to the next is from May to June 2013 where the average sales price jumped $18,000 but then settled back down.  I would assume that we’ll see that next month the May 2014 number to be settled back down as well.

$27,000 jump in one month in the average sales price isn’t a sustainable number in my experience.

placer county real estate avg sales price graph

placer county real estate average sales price

Placer County Real Estate Inventory Increases

The total number of homes available in the Placer County real estate market has increased 100% in the last year.  This would be more significant IF we had 6 months of homes available for sale but that’s not the case.

At the current pace of sales, we have only 2.6 months of homes available for sale.  Some areas of the county have more, some less.  County wide, I consider 2.6 months to be low.  The trend, however, is up as we can see from the graph below.

 

placer county real estate homes available for sale placer county real estate homes for sale

Summary

The Placer County real estate market is very healthy at the moment.  I don’t see anything that would lead me to believe we’re headed for a downturn in values in the short term.  While sales are down, take into account that pending sales numbers up, year over year.  It just looks like a slow start to the selling season.

That said, we’ll see.  Anything can happen and often does.

Sacramento Real Estate Summary

Sacramento Real Estate Year Over Year

sacramento_county

Overall, the last year in the Sacramento has had a good real estate wise.  While sales have declined slightly year over year, the average sales price has gone up and that means fewer and fewer underwater homeowners.

Correspondingly, there has been an increase lately in home equity loans which points to home improvement which is a good thing from an local economy perspective as well.

When homeowners spend money on their homes, it puts people back to work.  Contractors, handymen & women, home improvement stores all benefit from an uptick in homeowners taking out loans to improve their homes.

While the information below is rather general, it does point to healthy real estate markets in Sacramento County.

Average Sales Price Increases in Sacramento County

From April of 2013 to April of 2014, homes have appreciated almost 20%.  Depending on the area of Sacramento County you live in, this could be higher or lower.  Notice that this has been a gradual, steady appreciative cycle over the last year.  A very good sign.

Another item of note:  The listing to sold prices have gotten narrower since the fall.  This is also a good sign as sellers are getting realistic about home values and this keeps the market moving.

sac county avg sales price

sac co avg sales price table

Obviously, for this trend to continue, we’ll need incomes to increase and the local unemployment rate to continue to decline.  We could be approaching a point where the difference between incomes and housing prices gets too far apart.  This occurred in 2004/2005 and slowed the market down significantly to the crash of 2006/2007.

If mortgage credit stays as tight as it has for the last couple of years, the market will adjust as a reflection of activity rather than a reaction to “too easy to get” mortgages.

The average sales prices in virtually every city in Sacramento County has seen increases of 7% to 40% over the last year.

Sacramento Real Estate Sales Decline

I’ve been reading that real estate sales have declined nationwide in April and such was the case in Sacramento County.  Sales declined just over 11% year over year but with pending sales being much higher than they were a year ago, it just looks like the market got a late start on the buying season and we’ll see higher than last year sales for May and June.

sac co year over year sales sac co year over year sales table While sales in Sacramento county have declined overall some cities within Sacramento County have increased year over year.  The table below are some of the cities/areas in Sacramento County where sales have increased over the last year:

 


City / Area

% Sales Increase

Midtown Sacramento

111%

Mather

50%

North Highlands

36%

Rosemont

32%

South East Sac / Tahoe Park

31%

Rio Linda

22%

Pocket

19%

Foothill Farms / North Highlands

18%


 

 

Sacramento Real Estate Summary

Sales being down overall points to affordability and the absence of first time home buyers in the market right now.  Many of those who have graduated from college over the last 10 years have been affected by the economy and unable to get jobs that would afford them the opportunity to buy a home.  School loans and other debt are holding them back from moving out of mom & dad’s home much less buying a home of their own.

This will change over time of course.  The good news is that while there might not be the demand for homes, the inventory of homes for sale isn’t going up as one would expect from “slumping” sales over the region.  While, yes, home values have come up significantly over the last 2 years, there are still many home owners out there who would like to sell and move but still can’t afford to due to being underwater on their mortgages or just underwater enough to not be able pay the costs of selling.

We have a lot to be grateful for in our market now.  We’re in the top markets nationwide for good reasons rather than being known is the sister city of the foreclosure capitol of the U.S.  I thought that would never end but I’m glad that, essentially, the housing downturn is over and we’re posting value gains again.  Now all we need is another year or so to get the economy on more stable footing and we should be in great shape.

Have questions?  Please don’t hesitate to post in the comments section or just shoot me an email.

Thanks for visiting!

Buying or selling, if you would like to schedule a free consultation, please call or text me directly at 916-532-7653 or click here, for my contact page.

Sacramento Real Estate Views is the most comprehensive online source for Rocklin real estate information. Whether you are looking for the latest sales, trends or homes for sale in the Sacramento Region, Sacramento Real Estate Views has it all at your fingertips.

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Roseville Homes For Sale: 8643 Parada Court, Roseville, Ca 95747

Doyle Ranch Beauty!

This 4 bedroom, 4 bathroom home oozes pride of ownership.  It is truly a must see home!Front

The kitchen here is amazing!

  • Granite Counters.
  • Full granite backsplash.
  • Stainless steel appliances.  Sale includes the built in, GE Monogram refrigerator.
  • Double convection ovens.
  • Cherry cabinets with pullouts.  The matching cabinets throughout the house also have pullouts.
  • Under cabinet lighting.
  • The large island has an installed sink with an enormous granite slab.

The house is over 3800 square feet with a bonus room to create whatever you’d like.  Is it a gym or a home theater??  You make it yours!

There is a bedroom and adjacent bathroom downstairs or a “mother in law” quarters and a Jack & Jill shared bathroom between the two upstairs bedrooms.

The interior paint is completely custom with rich earth tones and every detail has been given full attention.  This is a wonderful home in a perfect location close to everything!

Incredible Location!

The location of the home is on Parada Court and is west facing.  This makes the backyard an entertainers delight!  There is a beautiful built in pool with newer pool pump installed and plenty of room for whatever your heart desires.

The landscaping has been completely renovated with new hardscape added to make the space more functional.  There is plenty of room to create your ideal space in this backyard.  It’s up to you!

For more information about this home, please call or text Rob Saxe @ 916-532-7653 or email at [email protected] or simply fill out the form below and I’ll get back to you promptly.

Thanks for visiting!

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How To Attract Multiple Offers In Any Market – Part 1

Put The Power Of Negotiation In Your Favor

18868941_s The Sacramento and Placer County real estate markets are shifting and have been shifting since mid April, early May.

As our correction proceeded, prices were skyrocketing and buyers were paying seemingly anything to get into a home.  That’s not happening now and the days a home stays on the market is increasing.

Seller’s who missed their shot in the first two quarters of the year are now wondering, as one seller whose home I don’t have listed asked me this week, “are there just no buyers in the market now?”

I wasn’t ethically able to comment but I can address this here.  My first thought after looking at the listing on the MLS was a simple one;  your home is overpriced for the market.  There are buyers out there but they aren’t willing to pay more for a home than it’s worth.

An overpriced home will never draw multiple offers, ever.  They never have and never will.  This makes sense if you think about it.

You want multiple offers.  Multiple offers help you negotiate the highest price possible.  Getting the highest price possible is an art and not for the feint of heart.

The Shifting Sands

Real estate markets can shift on a dime and ours has.  While most Realtors in my office commented back in 2614385_sApril on our company facebook page that “something’s going on in the market, anyone noticing?”, the media and consequently the public are about 4 to 6 months behind this trend.

This is all too common.

The only homes flying off the market right now are homes that are properly priced for the market that we’re in.  Any home that is overpriced or not seen as a value to the market is sitting, languishing with sellers asking their agents “where’s that hot market you told us about?”

Fact is, most agents are behind the power curve as well.  You’ve got to be in the business, talking to buyers, sellers and agents to keep your finger on the pulse of this market to be able to advise consumers accurately.

Why You Don’t Have Multiple Offers

Everyone interested in selling knows that the home needs to be clean, have a good location and amenities to get the highest market price.  Otherwise you’re looking to sell for the average sales price, maybe slightly higher, depending on condition, IF YOUR HOME IS PRICED CORRECTLY.

Do the work to get your home ready to sell.  It will pay off at the closing table.

Once you’ve got that nailed, the KEY PURPOSE of the initial listing price is to get butts through your door.  In order for it to sell AT ALL buyers need to see your home.  They will not visit your home unless they believe it’s a value for the condition, location and amenities.

Most sellers overestimate the value of their homes.  Some of that responsibility could rest squarely on the shoulders of their agents.  Some agents aren’t honest with their sellers for fear of offending them and as such homes get overpriced.

overpriced house I will not take an overpriced listing.  I will not take a listing from a seller just to “test the market” or “lets try it at this price and see what happens”.  I cannot do my job, no Realtor can, when a seller decides to overprice their home.  It’s a waste of time for the seller and the Realtor.

These choices result in an overpriced home that, more often than not, will not sell at the average sales price for the market it’s in.  When a home is overpriced, you will get few if any showings.  If no buyers are coming through, you won’t get any offers.

Simple.

After it’s been overpriced for 2 weeks, some sellers relent and come down in price but generally not enough.  By then, it’s too late.  Buyers who are in the market to buy have already passed on it.

When the price is reduced, buyers begin to think “they reduced their price, what’s wrong with it?”

Unless the price reduction is initially drastic, which most aren’t, the price reduction will have some but little affect.  Most sellers may get a few showings but not enough to get multiple offers.

Then another 2 weeks go by and there are more price reductions.  Now the home is stale and no one is coming through.

This scenario generally results in the home selling for less than the average sales price for the market it’s in and not to mention, frustrated sellers.  They’ve just lost 1% to 2% to the average sales price when they should have sold 1% to 2% above it.  I’d be frustrated too.

Buying or selling, if you would like to schedule a free consultation, please call or text me directly at 916-532-7653 or click here, for my contact page.

Sacramento Real Estate Views is the most comprehensive online source for Rocklin real estate information. Whether you are looking for the latest sales, trends or homes for sale in the Sacramento Region, Sacramento Real Estate Views has it all at your fingertips.

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Selling Your Sacramento Home?

Is Winter Really the Best Time to Sell Your Sacramento Home??

homes sold rocklinSelling your home isn’t easy regardless of the time of year you chose to do it.

There is a lot of work to be done, generally, as well as keeping the house clean for showings.

Typically, spring is the best time to sell a Sacramento home but if you must list in winter here is something to consider:

A lot of agents will tell you that winter is the best time to sell as there aren’t as many homes on the market and there is less competition for buyers.  That statement begs the question as to how many buyers are in the market during the winter looking for homes in the first place?

During the Holidays?? Really??

During the winter is the middle of the school year which reduces the number of buyers in the market, generally speaking.  I would advise against listing during the holidays unless you must. appraiser

My thought is that there are fewer buyers during this time than any other time of the year.  Makes sense, right?

All the pressure of the holidays, less than desirable weather AND moving or looking for a new home?  What kind of insane person does that?? :-)

When is the best time to list a Sacramento home during the winter?  My feeling is the best time to list your home in the winter is the first week of January.

For wintertime, I believe this is the time when there are the most buyers and the least amount of homes for sale.  The holidays are over and New Years resolutions have been set.

Most people wait until spring when the competition for buyers of a Sacramento home is much higher than right after the first of the year.  This could result in it taking longer to sell than it should, depending on the initial listing price the seller chooses, and making the most money from the sale of the home.

Winter, especially during the holidays, is the season for investors.  It’s their version of “Black Friday” shopping.  Winter is when investors are out in force as 1) there is less competition for homes and 2) they might get a better deal on a home if there are fewer buyers making offers.  This all changes after the first of the year, generally speaking.

Buying or selling, if you would like to schedule a free consultation, please call or text me directly at 916-532-7653 or click here, for my contact page.

Sacramento Real Estate Views is the most comprehensive online source for Rocklin real estate information. Whether you are looking for the latest sales, trends or homes for sale in the Sacramento Region, Sacramento Real Estate Views has it all at your fingertips.

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Never A Dull Moment :-)

Generally, after I sell a home, I take a picture of the new owners and post it on my Facebook page or on one of my blogs.  Saturday was no different.

My son, Ryan, has my sense of humor wratched up a notch.  While I was taking a photo of my client’s most recent purchase on Saturday morning, he decided it would be funny to “photobomb” the picture.

I’m not up on photobombing but I must say this picture is funny.  “A boy and his dad” quality moment.  Too funny. :-)

Ryan PhotobombI guess this should be a lesson to always be on the lookout for the comedian in the house.  I don’t take him to work often but when I do, it’s an adventure!

Thanks for visiting!

The Secret To Selling For The Highest Price

For Home Sellers Who Want To Make The Most Money Possible – Part 1

how to lose money selling your home Since the market started heating up, I’ve heard and read from multiple sources that home sellers can bypass a Realtor and sell their homes themselves saving the commission.

While, yes, this is certainly possible, statistics are against the for sale by owner with regard to the sales price that they will ultimately net from the sale.

The homeowner who takes on the sale themselves will receive, on average, more than 18% less than if they had sold with the help of a Realtor.  Is it really worth it?

91% of all homes sold in 2012 were sold by a Realtor.  9% were sold by homeowners.  The average homeowner sold for $174,900 while the average Realtor sold the home for $215,000.  That’s an 18% difference between going to the “Dark Side” and doing it yourself.

Let’s just forget about the old sales crap Realtors spew out constantly to For Sale By Owners, or FSBO’s as they are commonly referred, ”you’ll have to hold the open houses yourself” and “the liability is just too great to risk” or “the paperwork is very tedious and difficult to figure out”. 

The fact is you can sell your home yourself.  It’s easy, pretty much anyone can do it and people do it all the time. There is no mystery here. 

However, selling your home for the highest price however is not easy.

Clearly the statistics point to that.  Is it worth $65,000 on average to avoid Realtors?  9% of people who sold their homes themselves thought so! (and sometimes, honestly, I can’t blame them!)

Selling with a Realtor will, on average, net you 12% more than if you sold yourself even AFTER paying a 6% commission.

The SECRET To Selling Your Home For The Most Money Possible

#1 – Hire a Realtor.  Not just any Realtor but someone with a track record of success.  the secret to selling for the highest price

I went on a listing appointment recently and showed the seller my ability, from results across the street from her,  how I could make her the most money possible from the sale, as I did for her neighbor just 2 months before, then outlined my process.

She hired someone else who had no track record in her neighborhood who overpriced the home and here we are 50 days later in a very warm market and there the house sits, unsold and stale.

The market is asking “with as hot as it is out there and houses selling in a couple days tops, what’s wrong with this one?”  Believe me this conversation is happening, warranted or not.

Once a listing gets stale, you’ll be lucky to get market price for the home.  Homes that get stale, as a general rule, sell for less than market which leads us to Rule #2:

#2 – To sell for the highest price, start the initial listing price 1% to 2% below the market for homes with  amenities and location of your home.

What?  How does this make sense you ask?  When a seller creates the perception of value in the mind of the buyer, buyers will compete for your home.

The initial listing price never means you must sell for that price.  The goal of the initial listing price is to get butts through the sellers door.

Once we have interest then, if we’ve done the upfront work correctly, we’ll have multiple interested parties who will be pitted against each other and that will drive the price up BUT not the highest it can go.

I’ve sold homes throughout my career this way and have made my seller’s very happy.  Sales for $30,000 over list, $18,500 and $51,000 over appraised value all in the last few months.  Yes that’s correct…$51K over APPRAISED value not list price.

This strategy works and always has.  The challenge is getting a seller to understand and believe that what they’re watching on HGTV is not real world.  It helps no one to sell a home for less than market if it can be avoided.

NEXT in Part 2 – How To Keep The Buyer In Place Even If They Feel They’ve Paid Too Much

Buying or selling, if you would like to schedule a free consultation, please call or text me directly at 916-532-7653 or click here, for my contact page.

Sacramento Real Estate Views is the most comprehensive online source for Rocklin real estate information. Whether you are looking for the latest sales, trends or homes for sale in the Sacramento Region, Sacramento Real Estate Views has it all at your fingertips.

Subscribe to Sacramento Real Estate Views by Email

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