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The State of South Placer County Real Estate
2011 – Year In Review
Like Sacramento County, South Placer County real estate lost some value in 2011. Unlike Sacramento County, it wasn’t as stable a year for values in South Placer County. The reason for this could be that, with values being much higher in South Placer, South Placer County real estate had/has further to fall.
While the value losses weren’t much, you see a lot of bouncing around from city to city with a few exceptions. Where there is a lot of bouncing around, a clear direction of value is difficult to ascertain.
We’re seeing that properties aren’t selling for what they are appraising for unless they are highly desirable. Most every closing I’ve had has been this way. Properties listed at the appraised value aren’t selling for that price nor are they drawing offers at that price, generally speaking. (there are always exceptions)
Foreclosures
The total amount of foreclosure filings has been relatively consistent throughout the year with a high of 459 Notices of Default filed in August and low of 223 in December with a median monthly foreclosure filing of 322 homes. Filings of the Notice of Trustee’s Sale has been steadily increasing since September. The average time to the foreclosure sale once a Notice of Default has been filed in 2011 was 283 days trending down from October to a low in December of 211 days, over double the number of days provided for by California state law.
I expect the time from the Notice of Default to the trustees’ sale to decrease as we progress further into 2012.
Granite Bay Real Estate
Values going down in Granite Bay isn’t really a surprise to me. Like Folsom, Granite Bay home values have been relatively resilient since the downturn began but as we near the bottom of the market, it appears that the overall trend for home values in Granite Bay real estate is downward.
Since July, values have dropped 11% and that’s with an substantial uptick in values in December. As of December, the total number of homes for sale is 2.7 months are the current pace of sales.
Lincoln Real Estate
The home values in Lincoln bounced up and down all of 2011 but did trend down. The high sales price was in $284K in January and a low sales price in October of $216K, an almost 24% decrease in values.
At the current pace of sales in Lincoln real estate, there is about 1.9 months of inventory available for sale and believe it or not, that isn’t the low! In September, there was about 1.3 months of available homes for sale yet prices are continuing to trend downward. Historically, this makes no sense but it is what it is.
Loomis Real Estate
Loomis real estate values have bounced around quite a bit but in a good way. The bouncing around in Loomis can be attributed to one or two higher end properties selling in any given month. You have a high peak in January then a leveling off for 5 months then a high peak in July and a leveling off for 4 months to a peak again in December. Aside from those peaks, values were very steady all year long.
Unlike the rest of the region, the current inventory of homes for sale at the current pace of sale is about 7.5 months. (!) That’s the highest level I’ve seen anywhere in the region.
Rocklin Real Estate
Home values in Rocklin real estate were steady in 2011. Aside from a bit of jumping around with a low of $265K in March, values have been in a very narrow range from $321K to $279K with an average sales price of $292,580.
The total number of homes available for sale is 1.9 months at the current pace of sales. This is consistent with most other areas of the Sacramento region.
Roseville Real Estate
Roseville real estate has also been very steady aside from a dip in December of $257K. Other than that, values were between $291K to $263K with an average of $276,580 for 2011. This graph includes all zip codes in Roseville.
Just like Rocklin, Roseville has just 1.9 months of available homes for sale at the current pace of sales.
Summary
South Placer County, just like the rest of the region, has had a steady year of sales and a steady year of values. While, the overall trend is downward it is nominal in comparison to the 2007 through 2009 time frame.
Most economists are saying that this could be the year for home values to stabilize aka the bottom of the market. We’ll see how things fare. In my opinion, if the bottom of the market is this year it will be either in the first quarter of the year or the 4th quarter of the year. My impression is if the bottom of the market is this year, it will be in the first quarter but that’s just my feel of it.
If you’re looking for a home to purchase or sell, please call, text, email or simply fill out the form below and I’ll get back to you promptly.
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Sacramento Regional Home Values Decline
Carmichael Is The Biggest Loser At Over 31%
After seeing the headlines this morning concerning nationwide home values increasing in the second quarter of 2011, I got curious about where we are in the Sacramento real estate market and come cities in the outlying areas.
The numbers that came up were expected and yet some were shocking.
Understand, these are values that are a snapshot of where the average sales price was in July of 2010 versus July of 2011. I don’t suspect that they are the end all, be all but do reflect how much home values have changed in the last year.
|
City |
July 2010 |
July 2011 |
% Change |
| Carmichael | $360000 | $245000 | -31.9 |
| Fair Oaks | $339000 | $256000 | -24.5 |
| Antelope | $201000 | $171000 | -14.9 |
| Rocklin | $320295 | $279247 | -12.81 |
| Citrus Heights | $166651 | $147790 | -11.32 |
| Granite Bay | $636763 | $578830 | -9.41 |
| Lincoln | $286583 | $263290 | -8.13 |
| Sacramento | $188549 | $173334 | -8.06 |
| Roseville | $299000 | $283000 | -5.4 |
| Orangevale | $228868 | $220495 | -3.66 |
What Happened To Single Digit Losses in 2011?
Most economists said last year that the majority of the value losses that we would experience in 2011 would be in the single digit range if any value was lost at all.
Most agreed that we’d see perhaps less than 10% across the board with a flattening out of home values later this year. It’s clear now that the “experts” weren’t correct in their assessment of our market and also, just how hard it is to predict what will happen regarding housing.
What we know is this – the Sacramento real estate market as well as other markets in the region have ALL lost value over the last year.
A 2 or 3 month increase in values nationwide isn’t news when you consider how much value has been lost over the last 12 months. Trends in economics generally don’t become such until 2 quarters have elapsed showing a consistent direction. In other words, we need 6 months of evidence that values are going up for it to begin to become newsworthy.
Two months of value increase isn’t a trend, it’s a start. Let’s hope it continues.
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We handle real estate sales in Sacramento and South Placer County. If you’re looking for representation in real estate matters, we’d like to hear from you.
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Rocklin 95765 Year End Sales Report – 2010
Are We Glad 2010 Is Over??
Most economists agree that housing will begin to bottom out this year and stabilize. No lasting economic recovery will be complete without a corresponding improvement in the housing sector.
When homes are losing value, people rein in spending and feel that their overall financial picture is shaky. Housing is the core of our national economy and so much seems to hinge on real estate values.
While we haven’t seen dramatic drops in value this year in Rocklin, we’ve still seen a decline.
Average For Sale Price vs. Average Sold Price
The average price a home has sold for in the 95765 zip code of Rocklin has decreased 6.4% from January to December 2010. This is not as significant a reduction in values as we have seen since the housing downturn began but it is a loss none the less.
The average sold price in January was $362,000 and by December it had gone down to $339,000.
With all of the short sales in the Rocklin area, the for sale prices have come in line with the sold prices. This gap has gotten narrower all year and has reduced the market time from 150 days on market to 90 days on market.
Banks have gotten on board and are facilitating the sale of underwater mortgage faster than in years past which is also adding to reduced market times.
Homes For Sale vs. Homes Sold
The total number of homes for sale in Rocklin has gone up 29.3% in 2010. Homeowners are seeing that it’s fruitless to hold onto an underwater mortgage and are selling their homes, licking their wounds and moving on. The number of homes for sale in the entire region has steadily gone up all year long so this is no surprise.
The highlight in this segment of the report is that the pending sale numbers have also increased 37.5%. Buying activity is still out there which is a sign of improvement.
Months Of Inventory
When comparing the homes available for sale in January vs. December, there has been a 7% reduction in the total number of homes for sale last year. That said, it’s still higher than the first 5 months of the year.
Currently, as the graph illustrates there is 4 months of inventory at the current pace of sales.
Year End Summary
2010 wasn’t a good year for real estate in Rocklin. However, it wasn’t as bad as years past in terms of value lost. I believe that the market has found an “equilibrium” of sorts and barring any government intervention will continue on this pace, improving slowly going forward. While this is no insight of significant revelation (LOL) it is something to hang your hat on so to speak.
Interested in the value of your Rocklin home or need to sell? Please fill out the form below and we’ll get right back to you.
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Graphs and market info courtesy of Metrolist Services Inc and Trendvision. Thanks!
Rocklin Home Sales Report – 5/19 – 5/26
Slow Week In Rocklin Real Estate Sales
The Rocklin real estate market definitely did not break any sales records this week. In both zip codes of Rocklin, there were only 4 closed sales total. A little surprising being that we are just beginning the height of the buying season.
It’s still early, things should begin to pick up and I’m anticipating a great sales season for the Rocklin and Roseville real estate markets. If properly priced, homes are moving quickly.
Here is what the average sale looked like in Rocklin this week:
Beds & baths: 4 / 2.5
Square foot: 2043
Initial list price: $282,200
Sales price: $273,225
Listing to sales price percentage: 96.7%
Days on the market: 59 (one home skewed this data with 202 days on the market. Take that one out and the remaining homes sold in an average of 12 days)
Here are the homes sold:
| Address | Beds & Baths | Square Feet | Initial List Price | Sold Price |
| 5070 San Francisco St. | 3 / 2 | 1308 | $179,900 | $193,000 |
| 5614 Terrace Dr. | 4 / 3 | 1900 | $264,900 | $259,900 |
| 6101 High Pines Ct. | 3 / 2 | 1671 | $309,000 | $270,000 |
| 6426 Brant Way | 6 / 3 | 3291 | $375,000 | $370,000 |
Looking for a home in the Rocklin / Stanford Ranch area? If so, please contact me at 916-532-7653. We’ll find you a great deal on a home in one of the best areas of the Sacramento region.
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Rocklin Real Estate Shows Improvement
Average Sales Price Increases
Since the beginning of the year, the real estate market across the region has been improving. The number of homes sold has increased, the average sales price has increased and inventory numbers have declined. In Rocklin, the average sales price has increased almost 17%, January to March.
While there is some light at the end of the tunnel, there are still many homes that have been foreclosed on yet are not on the market. There aren’t as many of these homes in the Rocklin/Roseville real estate market as there are in Sacramento but they are still out there. Now that the government has announced the “bail out” plan and are purchasing troubled assets, there should be some resolution as to how these properties will be sold.
Foreclosure Sales Lead the Pack
Of the homes sold over the first quarter of 2009 in Rocklin, 56 were bank o
wned homes that were foreclosed on, 31 were short sales and 55 were “regular” real estate deals.
I don’t expect this to change that much throughout this year. In other markets throughout the region, the percentage of bank owned sales to regular real estate sales is much higher.
We are still in the midst of a moratorium in California put into place by the Governor at the end of February. It is supposed to be over at the end of May but so far, it’s been extended 3 times since September 1, 2008.
With markets stabilizing, I guess that, if the banks can figure out what’s going on with the homes not yet on the market, why not extend it? With values and sales increasing, on some level, it’s working for now. The jury is still out on this.
Home Sales Increase
Every month this year, the number of homes sold has increased. This isn’t as significant as the average sales price increasing as the buying season is here. With interest rates down and summer coming, it’s the time to buy and move if you’re in a position to do so. Rocklin is an awesome place to live. My family and I love it here.
Additionally, the banks are starting to loosen up with regard to short sales as the government is providing an incentive to do so.
If you must sell and you have to sell short, please give us a call. We can help you navigate through a tough time and help you get it done.
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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.
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Rocklin Real Estate Sold Homes 2/14 to 2/21
This Weeks Home Sales in Rocklin
There were 8 home closed home sales in Rocklin this week. Here are the stats:
The average days on the market for these homes was 81.
The original listing price to sold price was 94.56%.
The average cost per square foot was $150.84 on an average square footage of 2288.
The average sold price was $328,938.
Homes are selling when priced right and effectively marketed in all areas of the region. Here are the individual homes sales by address:
| Address | Beds/Baths | List Price | Sold Price |
| 4108 Oak Court | 3/2 | $237,000 | $230,000 |
| 6121 Woodside Drive | 3/2 | $249,900 | $237,500 |
| 2477 Pinnacles Dr | 3-5/3 | $285,000 | $238,000 |
| 2114 Hannah Way | 5-6/3 | $289,000 | $289,000 |
| 6320 Curlew Court | 3/2 | $345,000 | $335,000 |
| 5300 Hawkhaven Court | 5/3 | $375,000 | $375,000 |
| 4413 Vivien Way | 4/3 | $479,000 | $425,000 |
| 2203 Hedrick Court | 4/4 | $522,900 | $502,000 |
Is there a home in Rocklin you would like more information on? Looking to sell or buy a home in Rocklin? Give us a call, we’d be happy to help you get moving.
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