Sacramento Real Estate Views

Buyers On The Sidelines…Again

Number of Single Family Homes for Sale Continues to Rise

With the threat of a double dip housing recession and no incentive for first time home buyers to purchase, the Sacramento real estate market is losing, or has lost, steam.

I know it sounds like a broken record but every month this year the number of homes for sale has gone up.

The threat of a double dip housing recession in the Sacramento region with the typical slowdown point of the “buying season” approaching is very daunting.

Depending on what the banks do, there could be more and more homes coming on the market without buyers to purchase them as investors wisely wait for the fallout yet again.

Where does our market go from here?  From the looks of it right now, not in the preferred direction.

Simple economics dictate that when supply goes up, values go down.  As you can see from the graph, supply is going up and has gone up every month this year.

Status Of Homes For Sale Remains Consistent

The status’ of the homes on the market has remained consistent since the beginning of the year, percentage wise. Looking at the fact that the notices of default keep on coming, albeit at 47% less than last year, it seems as if the foreclosures inventories should be increasing but they aren’t.

The reason for this is that many homeowners are working with their lenders to get loan modifications and some are going the short sale route.

Still, foreclosure sale after foreclosure sale is being postponed. In fact, 29% more postponements than the same time last year and 16% more postponements than last month.

I’ve heard that recovery really isn’t in the cards for our region economically until 2014.

I hope that’s wrong.  What we need right now is a huge bright spot something to get a smile on the face of the region.  A few more jobs would help.

I’m smiling anyway..regardless of what’s going on.

Looking to buy or sell in the Sacramento region?  Give us a call or simply fill out the form below and we’ll get back to you promptly.

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Tags: homes for sale rocklin, Lincoln, Roseville, sacramento

Total Number of Homes for Sales Continues to Rise

Percentage of Short Sales Increasing

The total number of single family homes for sale is continuing to increase for the 8th month in a row.

There are, as of this writing, 7883 home on the market in the 3 county area of Placer, Sacramento and El Dorado.

Getting short sales approved has become easier and many more people are choosing to sell their distressed home short in the Sacramento, Rocklin and Roseville real estate markets.

The increase in the total number of homes for sale is bound to get worse as we enter the slower selling fall months.

Homes just aren’t selling as fast and as the number of available homes for sale continues to climb, values must be affected adversely, again.  Simple supply and demand.

Short Sales By City

The percentage of homes in short sale has increased.  Currently, short sales in occupy 30% of the homes for sale in the 3 county area.

Individual cities in Placer county have much higher percentages.

In this report, Rocklin leads the pack at 39% of the available homes for sale being  in short sale.  Next is Lincoln and Sacramento at 35%, Roseville at 33% and Granite Bay at 14%.

I think timing is at play in Rocklin with the bulk of new construction being completed in the 2001 to 2003 time frame when the market was going up very fast.

The point here is that more and more homeowners in distress are choosing the short sale route as it is much easier process than it used to be and the credit ramifications, especially for purchase money loans, are less severe.

Are you considering selling your home short?  For more information on short sales, click here.  Additionally, if you’d like a no obligation, confidential consultation, please fill out the form below and we’ll be in contact with you promptly.

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Tags: granite bay, Lincoln, Rocklin, Roseville, sacramento, short sale

What’s Your Home Worth?

Values Have Declined Dramatically

Over the past several years, home values all over the Sacramento, Placer and El Dorado Counties area have declined sharply.  While the declines are now slowing into single digits, we’re still losing value especially in the above $300,000 communities.

This fact makes it difficult to know what your home is currently worth.  We’re here to help.

Professional Home Valuation

We provide a professional home valuation reports based on the most recent comparable sales of homes within a 1 mile radius of your home within the shortest time frame possible.  Only the most recent comparable home sales, generally within the last 60 days, are relevant to the value of your home.

Accuracy

We make every effort to be as accurate as possible.  It makes no difference if you’re planning on selling or are just curious about the value of your home, the report will be identical.

Our home valuation reports are only valid the day they are produced as our market is constantly fluctuating. (We’re required to include this “disclaimer”.)

What you will not get from us is an inflated estimate of the value of your home.  All reports we create will be substantiated by hard numbers with the high value and the low value removed to obtain a solid, average value of your home.

We have nothing to gain by reporting your home value higher than it actually is.

Help Us Help You

For valuations beyond the average value described above, we need as much information as possible to make the most accurate assessment of the value of your home.  Please include:

1)  Pools and spas

2)  Flooring; tile, laminate, hardwood, carpet

3)  Large lot sizes

4)  Location description

5)  Unique amenities

This information will help us to get as close as possible to the most accurate value of your home.

A visual inspection of condition / amenities are available upon your request and would be best to ascertain the closest value range possible.

Email or Written Report?

We deliver our reports within 24 hours*.  Please indicate in the form below if you’d like an email delivery or a written report delivered to your home.

Information Privacy

We will not under any circumstances:

1)  Sell your information to 3rd parties.

2)  Solicit you beyond a follow up call to insure that you received your report and to answer any questions unless you request to be included in our newsletter.

We respect that you may not want to hear from us and that’s ok!

All that we request is that if you do plan to sell your home, please give us an opportunity to earn your business if you don’t currently have a Realtor to refer to.

Please fill out the form below and we’ll be back to you in 24 hours*.

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*24 hour response times don’t include holidays.  Requests received during holidays will be processed the very next business day.

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Home Characteristics

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3. Property type? Primary Residence Investment Land Other
4. Investment property only N/A Single Family Home Duplex Triplex Fourplex More Than Four Units
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12. When is the best time to reach you? As Soon As Possible Morning Mid day Evening By Email Only (required)
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