Sacramento Real Estate Views

Bubble Bursts In Elk Grove = Unbalanced Media Coverage!

According to a friend of mine in the resale side of the industry, Lyon Real Estate pulled their corporate advertising from the Sacramento Bee a year or so ago. Correspondingly, I noticed at least, there was a decrease in the amount of articles about how bad our real estate market has been. Funny, money talks and (beep!) walks..I guess the sacbee was walking. (do you smell that? smells familiar, but I can’t place it.)

Recently, the SacBee ran an article about the “implosion” in the Elk Grove real estate market and it’s true, Elk Grove has been hard hit this time around. One of this city’s neighbors, Stockton, Ca has also had a rough go of it being named the “Foreclosure Capitol of the Nation”. Man, I’d hate to run for re-election in that town.

As there always is two sides to EVERY story, I thought I’d share a bright spot about the Elk Grove real estate market that you may not know. Although the SacBee also ran an article about the top selling new home communities in the Sacramento Region, it was buried under a pile of….well, you get the picture… and went largely unnoticed.

Glenbrooke, A Del Webb Community: Just under a year ago, Pulte Homes and Del Webb opened Glenbrooke on Bruceville Road between Elk Grove Blvd. & Whitelock Pkwy. The community offers six models ranging in size from the mid 1200′s to the mid 2200′s sq. ft., two and three bedroom single family detached homes. Last year, as reported by the SacBee, Glenbrooke was the #2 sellling community in the ENTIRE Sacramento region. The community features a 9000 sq. ft. community center with a full time Lifestyle Manager whose job it is to ensure that anyone looking for a good time, an awesome social experience with other like minded folks finds just that. Active Adult living, 55+ and better, at it’s finest.

The bright side about our market currently is that it’s a great time to buy; opportunity is everywhere. It’s unfortunate that so many are struggling to hold on but if they do, the market will reward them. It always has. Good times in our market are coming back soon. Hopefully with a bit more sanity than the last time things took off. I don’t know about you but I’d rather not see this type of market for many years to come!

A little balance in the media is needed. Let’s change the mindset and we can collectively change our results.

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Tags: Del Webb, elk grove, Glenbrooke, New Homes, sacramento bee

This entry was posted on Thursday, February 14th, 2008 at 9:17 pm and is filed under Real Estate Market Commentary. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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