Sacramento Real Estate Views

Reality or Sales Pitch?

The Usual “Agent Hype”

Real estate agents are funny people.  I can’t say that I’ve ever really understood them.  I know a lot of Realtors and just like any other profession, there are good ones, bad ones and those who are just kind of there not doing much.

I was contacted yesterday morning by someone from L.A. looking to relocate to the Rocklin area.  I got an email request for a property search and I responded to her within 15 minutes of her contact with me.  It would have been sooner but I was driving at the time.

As the day went on, we communicated more and more about what she was looking for.  Later in the afternoon she sent me an email that was more specific and I corrected her search from the MLS to reflect the changes in her search criteria.

Simple!  People tell you what they want and you get them what they want.

As our conversation evolved, she shared with me an email from another agent that flew in the face of what I know of the Rocklin real estate market.  I write articles on it monthly, sometimes weekly and the information isn’t something I create out of thin air but is backed up by the most recent sales data according to Metrolist Services, Inc., our regional MLS.

I would estimate that the MLS represents 95% of all sales in any given area of the region.  That could be not entirely accurate but it’s close.

In my Craigslist advertising, I add at the end “Professional, relaxed, reliable and responsive with none of the usual agent hype”.  The email below was sent to me yesterday by my newest client from an agent I didn’t know I was competing against for her business.  I will dissect it so that you too will know just when the feces is flying and you can protect yourself against those who would rather sell you anything quickly then truly help you find what you want aka “the usual agent hype.”

Read on!

Would You Be Open To Something You Don’t Want In An Area You Won’t Like?  Perfect!

This is the body of the email she received.  My responses are in red.

“I’d like to help, and hopefully I can. But after searching the MLS with your criteria in hand, I can tell you the reason the other Realtors haven’t been very responsive is probably because your criteria are so specific that they realize it is going to be a tough match.”

There are many reasons Realtors weren’t responding to inquiries the least of which, in my opinion, was based on the fact that her criteria was too tough.  Realtors and agents aren’t known to good at follow up.  That’s why most fail.

Following up quickly and often is the key to being in the people business which is what my job is all about.  A broker once told me “real estate is simple, just add people and stir.”

I found 13 homes on the MLS that were in her criteria and emailed them to her.  This was just in the Rocklin area, 95765.  They took me literally 10 minutes to find.

“It won’t be easy, especially now that it looks like prices are on the way back up.”

This is just blatantly untrue.  Any agent who can determine the future should be on Wall Street, not Main Street.  The only thing we can know is what has occurred in the most recent past.  For the most recent information on what values have done in Rocklin, click here.

The sole purpose of this sentence is to try and instill a sense of urgency in the person it is addressed to.  He was trying to make her think that if she didn’t buy now that she wouldn’t get the best deal.  This is sales hype and from a historical perspective, completely untrue.

“Finding 2300 sq.ft. in good condition and newer, under $300k, is nearly a pipe dream, and even under $350k it’s few and far between.”

Again, this wasn’t true either.  I found properties from just under 2300 square feet to well over 2300 square feet for those prices.  That was just what was on the market right now.  Values in Rocklin have come down significantly and this leads me to believe he just doesn’t know the market.

Reduce the expectation and get the buyer to accept that what they want is unreasonable.  I just don’t know what to say about this approach especially when it’s not true and easily verifiable.

“If something did fit, and met all your criteria including price, it would be a hugely popular listing that would attract quick-acting buyers, and you would have to be willing to make a move quickly to beat the competition.”

This sentence is only partially true.  4 of the homes that I sent her had an average days on market of 23 days. Another 9 had been on the market 73 days.  The fact that they were still on the market after 23 and 73 days says that they are overpriced for the market and that the “quick acting” buyers have not acted on these.

Again this sentence is used solely for the purpose of creating a sense of urgency to get the buyer to think that if they don’t act quickly, they will lose out on just what they want because they stalled.  It’s just hype and not based in what’s really happening in the Rocklin real estate market.

“It is a buyer’s market, but for a great listing at a great price, the seller makes the rules. Are you willing to play in that environment?”

It’s a buyers market but the seller’s make the rules?  This sentence makes no sense.  True if the house is unique, there will be more competition but as I’ve demonstrated, there were plenty of homes to choose from that fit the criteria.  Where there is inventory sitting, the buyers make the rules, not the sellers.

The fact is that the number of homes for sale in the region has gone up every month this year.  There are homes available for sale.  The “are you willing to play in that environment” comment is just there to determine the motivation of the buyer to purchase.  That’s it.  It means nothing and serves no purpose to the individual it was addressed to but serves the purpose of the salesperson.

“Would you consider a home that was somewhat older, like 1990? There were many homes built in Stanford Ranch back then which are centered around the best schools. There would be much more likelihood of finding something if you could handle an older home.”

This is classic.  It’s the “would you consider something you don’t want IF it were around the best school?” playing on the emotions of the buyer looking to do what’s right for her kids.

“You might need to move into something you don’t want to get the best school in the city”.  All the schools in Rocklin are rated in excess of 850 API, click for the report here.  You can find any house around a great school in Rocklin.

This email was written to persuade the buyer to loosen up on their criteria and make life easy for the agent to get a quick sale.

That’s it.

It has nothing to do with serving the buyer’s needs and wanting for the the buyer what the buyer wants for themselves.

What happened to the “hey, this may be tough but together, we’ll find it for you” type of attitude?  That is lost on this particular agent.

Always keep this in mind with real estate agents.  There are good salespeople, good Realtors and “also ran’s”.  There is a significant difference between them.

This guy is a salesperson and would rather get this buyer into what is convenient for him rather than doing the work and finding her what she really wants.  This email reeks with that attitude.

I’m glad he wrote this to her, I really am.  Now she’s working with me!  LOL

If you are looking for a Realtor absent of the usual sales hype, please contact me or simply fill out the form below. Professional, reliable, responsive and relaxed. Pretty much says it all.

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Tags: homes for sale in rocklin

Homes Sold In Rocklin 95765

This Week’s Home Sales

Home sales in Rocklin were a little slow this week.  Not surprising being that the bulk of the selling season is behind us as fall and the crisp valley air approaches.

I really hope we see an extended “indian” summer.  That would just cap off a beautiful summer.

The average home sold in Rocklin, 95765 zip, this week looks like this:

Status Of Sold Homes in Rocklin

There were 4 homes sold in Rocklin this week.  1 was a bank owned home, 1 was a short sale and the other two were new homes in Whitney Ranch.

Here are the individual homes and what price they sold for.

Have questions about the Rocklin real estate market?  Just fill out the form below and we’ll get your question answered promptly.

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Tags: homes for sale in rocklin

Home Sales Report – Rocklin – July 2009

Just An Average Sales Month – 95677

So far this year, the 95677 zip code of Rocklin has averaged about 18.5 sales per month.  July was no exception with 17 sales, just another average month.

Looking for homes for sale in Rocklin?  Click Here.  Scroll down to the bottom of the page.

The average sales price has been all over the board this year.  95677 has a diverse mix of very high end and lower end older homes making the average sales price jump all over the place as the graphic shows.

The average sales price in 95677 for July was $334,678 but the most relevant number for value in this zip code will be the annual number due to the diversity in the neighborhoods.

The 95765 zip code isn’t quite as diverse and you see a clear pattern in the average sales price that doesn’t exist in the 95677 Rocklin zip.

Home Sales – 95677

As I said, 17 homes sold in the month of July and the average homes sold aren’t far from this number.

But while the chart may represent sales being very up and down, the the low sales month for the year was February, not unexpected, at 14 sales and the high sales month was 26 in June, again, not unexpected.

The average homes sold per month being about 18.5 homes sold per month, sales have been relatively consistent all year, a good sign.

Homes for Sale – Rocklin 95677

At the time of this writing, there were 43 homes for sale in the 95677 zip code of Rocklin.  Dividing the average sales by the homes currently for sale gives us just over 2 months worth of inventory available at an average offering price of $462,504 for a 4 bedroom, 3 bath home at over 2600 square feet in 95677.

Typically, anything below the 6 months of inventory for sale mark is a seller’s market.  Odd how the tide shifts so quickly.

Have questions or comments?  Please feel free to give me a call or send an email at any time.

Thanks for visiting!

Tags: homes for sale in rocklin

What is the “Shadow Inventory” in Sacramento Real Estate?

Is Our Market Headed for Another CRASH?

It’s been reported time and again that there are large numbers of unsold yet vacant homes in the Sacramento real estate that, due to lender and state moritorium, haven’t come on the market.  What will happen to those homes?  When will they come on the  market?

A short video on my perspective.  Enjoy!

Tags: homes for sale in rocklin, sacramento, Sun City Roseville

Sacramento Region Homes for Sale – April

Inventory Increases

The total number of homes for sale in the Sacramento region including El Dorado and Placer counties increased 3.5% in April over March.  This spike in homes for sale is normal for the time of year when more homes typically come on the market.  If history tells us anything, the total number of homes for sale should increase or hold steady over the next few months.

The number of homes for sale in Placer County increased 8.9% in April over March.  While a more significant increase, this is normal for the time of year.  Call it a “seasonal” increase.  Additionally, loans at the higher price points have been a bit more difficult to obtain thus it’s taking a little longer to get those homes sold than it used to.

This increase breaks the 3 month decline in the number of homes for sale in Sacramento County.  Depending on what the banks do with the “shadow inventory” (homes available for sale but not on the market) inventory levels may stay reasonably stable.

Read the rest of this entry »

Tags: homes for sale in citrus heights, homes for sale in rocklin, homes for sale in roseville, homes for sale in sacramento

Brand New Listings in Rocklin This Week!

18 New Listings!

18 new listings came on the market in Rocklin this week in varying price points.  With the $8000 first time home buyer tax credit given out this  year by the government, if the time is right, it’s a great time to buy.

I don’t usually include short sales in with my report as most of those end up as foreclosures anyway and for the most part, waste the buyers time.  They are becoming easier to work with but most buyers get bored waiting for the bank to make a decision and move on to more accessible homes.

Here’s this weeks list:

Address	Beds/Baths	Square Feet	Price	Comments
3033 Twin Creeks Ln.	3/2	986	$174,900	Bank owned
2942 Twin Creeks Ln.	3/3	1319	$180,200	Bank owned
4737 Racetrack Cir.	3/2	1156	$199,000	Pool
2224 Glacier Dr.	4/2	2240	$257,900	Big lot with a pool
4865 Grove St.	4/3	1320	$349,900	1.3 acres, short sale
3997 Rawhide Rd.	4/3	3168	$699,000	Clover Valley
6803 Yarrow Way	4/5	3346	$998,500	Ahem!!! Gorgeous home
2820 Key Court	4/3	1951	$275,000	Location just ok
1621 Poppy Circle	4/2	1691	$289,000	Nice location
2145 Ranch View Dr.	3/2	2315	$336,465	StanPac, Whitney Ranch
2143 Ranch View Dr.	3/2.5	2861	$398,650	StanPac, Whitney Ranch
2142 Ranch View Dr.	4/3	3066	$421,115	StanPac, Whitney Ranch
2418 Saint Andrews Dr.	4/2	2014	$424,000	Fireplace, den
2144 Ranch View Dr.	5/3	3096	$428,235	StanPac, Whitney Ranch
2163 Red Setter Rd.	4/3.5	3268	$437,265	StanPac, Whitney Ranch
2413 Cody Court	3/3	2428	$499,000	Retirement community
1802 Sorrell Cir.	4/3.5	4148	$694,971	Centex, Whitney Ranch
3391 Black Oak Dr.	5/4.5	4228	$700,000	Beautiful, gated community

Although one short sale made it to the list, the rest of the short sales in this weeks report were not included.  For more information on those please feel free to contact me.

Thanks for visiting!

Tags: homes for sale in rocklin, rocklin real estate