Sacramento Real Estate Views

Archive for March, 2009

Active Listings Watch – Sacramento Real Estate

Geez, it’s great to be home!  I love Disneyland as I have fond memories of it from my childhood.  Sharing those with my 4 year old son was very special.  Back to work!

Home Prices Stabilize

The average sold price for a home in Sacramento real estate has stabalized over the last 2 months.  So far for the month of March, there appears to be an increase in the average sales price but that was also the case in the beginning of February.  The difference in average sales price from January to February is less than .04%.

There are still many vacant homes that are not on the market in the Sacramento region.

What will happen to those at this point is anyone’s guess and the guessing is proceeding in full force!  I believe that they will be “metered” out in smaller releases in an attempt to control the inventory levels and increase demand. This may result in increased values across the region.  Additionally, many could go to bulk sales as this is the fastest way to rid non performing assets from the banks books.

Something similar to this happened with the RTC in the late 80′s and early 90′s.

Inventory Levels Decrease

Over the last month and a half, the total number of homes for sale in Sacramento county has decreased almost 6%.  There are still multiple offers on every home that I submit for my clients but that said, we’re picking up some properties at lower prices than what they offered for.  My most recent escrows were exactly that way.

The variables here don’t seem to line up:  Less inventory for sale, multiple offers on every listing and getting homes for less than the listed price yet prices have stabilized over the last 2 months?   That formula doesn’t seem to add up.

My sense is that this year will be more active than last year if the inventory levels remain consistent.  If they drop lower and the vacant homes out there now don’t come on the market, at the current sales pace, there won’t be much to sell.  It looks as if the pace of sales and values should increase but time will tell.  This could be the year of market stabilization.

The Sacramento real estate market has proved to be very resilient over the years.  We were first in and we will be the first out of this downturn.  Stabilization is the first sign of things turning around for the better.

Thanks for visiting!

Tags: sacramento homes for sale, sacramento real estate

On Vacation!

Visiting with Mickey!

This week, my family and I are in Anaheim on an all expense paid trip to Disneyland.  I’ve got a lot on my plate this year and I thought that we’d take a week off to visit with Mickey and friends.

Will be back next week.  Thanks for visiting!