Sacramento Real Estate Views

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

For Sale By Owner

Is Selling Your Home Yourself No Longer An Option?

According to an article on CNN.com today, it appears that there is less demand for websites that have helped people market their homes for sale.  The article cites a website designer who creates websites for people “selling by owner” has been recieving far fewer calls from people needing websites to help them market their homes.

This isn’t surprising as homes are far tougher to sell than they once were.  The competition for buyers is stiff as there are good deals everywhere in the market right now making the proper marketing even more essential than before.

The Power Of Internet Marketing

If you are in the market to sell your home yourself, and I do think it’s possible to get it done, you have got to utilize the internet.  Almost 90% of all buyers begin their searches online first.

Most people out there are not savvy enough in internet marketing to be able to represent themselves effectively to get the highest price for their homes.  The home goes without the needed exposure that will put it in competition with other homes.

I’m Here to Help

If you are selling your home on your own and you’re adamant about not hiring a Realtor to represent you, please give me a call.  If we can come to an agreement regarding compensation should I bring a buyer who purchases your home, I’ll be happy to market  you home free of charge.

I can get your home to the front page of Google in less than 12 hours probably in less than 9 hours.  I’ve got a method of getting any home the exposure it needs and document that exposure for reference.

This is important information.  It will help you to make critical decisions that will ultimately help you get your home sold much more quickly in the highly competitive Sacramento real estate market.

For an example of this technique, Click here.  This is one of our listings I marketed recently.  Results 2, 4, 5 and 6 are there as a direct result of the marketing I’ve done for this home.

Let me know if you’d like similar exposure of your home, I’m happy to help.

Buying or Selling, either way, we can help you get there.

Tags: sacramento homes for sale

3338 Brolio Court, Rancho Cordova

Newer Home in a Quiet Area

This home just came on the market.  It’s 4 beds, 3 baths, 2650 square feet.  It was built in 2004 so the interior features are very up to date.  Fortunately, this one just needs some minor clean up and it will be move in ready.  The carpet needs cleaning and there are some touch ups but no big deal.  This home originally sold for much more than $350,000, it’s current asking price.  To see this or any home in Sacramento or Placer Counties, please click here to contact me.

Buying or selling, we can help you get there.  Thanks for visiting.

Here is a Google Map of the location:

View Larger Map

And a Video Walk Through:

Tags: rancho cordova homes for sale, sacramento homes for sale

Is This The Bottom of the Market?

Some Indicators Say This Could Be It

I keep my ear to the tracks regarding the real estate market in the Sacramento region.  I love it.  Analyzing data about the market is a lot of fun for me.  Lately, things aren’t adding up though.  I’m going to present a theory here that may be totally inaccurate.  It is plausible however and, after talking to a couple of my teammates about it, it could be that this market has reached the bottom.

I have seen the predictions that our region will lose another 15% to 20% this year.  Until today, that’s what I thought was most probable.  Here’s what we’re seeing now:

#1  The Foreclosure Rate Increased

From November to December, the number of NOD, notices of default, the first step in the foreclosure process, increased well over 30% in the Sacramento region.  The moratoriums that have been instituted by state legislation failed to work.  Delaying the inevitable?  Yes or maybe?  The January numbers won’t be out for another 9 days.

#2  The Inventory Decreased

The inventory, homes actively for sale, has decreased from January to February by 2.25%.  Not a large number but if you look at it, all moratoriums aside, it still doesn’t add up.  Seasonal you say?  The NOD’s increase but the inventory decreases?  What about homes that were foreclosed on prior to the start of the September 1 moratoriums?  Where are they?

#3  70% of Foreclosures Are Not on the Market

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Tags: sacramento foreclosures, sacramento homes for sale, sacramento real estate

Active Listing Watch

Homes For Sale Declines Slightly in Sacramento and Placer Counties

I was surprised to see that the amount of active listings in the Sacramento and Placer County areas decline over the last 30 days.  I think that most local industry people here believed that there would be an influx of new listings by now.  I believe it’s still there, just not on the market yet for whatever reason.

I read an interesting article from CNBC this week that shed a little light on why this may be happening.   Other than the foreclosure moratorium that has been extended, the article cites that 70% of foreclosures haven’t hit the market yet and that most of these homes are standing vacant.  I have noticed a very high percentage of vacant homes in the neighborhoods I’ve been working in.

There may be several reasons for this but it’s more prevalent than it has been, there are more of them out there.  Could it be that the banks are deferring losses on assets until it’s convenient for them to do so as the article suggests?  That would not be good for our communities at all.

More Value Declines Coming

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Tags: rocklin roseville homes for sale, sacramento homes for sale

The Good Deals in Sacramento Real Estate

The “Value Train” Pulled Into the Station in Sacramento in 2008

I was asked a couple of good questions yesterday and thought I share my answers here.  These questions are common and I hope they help you understand what’s going on in our market.

“Where Are All The Good Deals in Sacramento?”

I thought a lot about this question before I answered it.  Normally it’s easy to say, “buy and fixer, do most of the work yourself and you’ll get the best deal” and to some extent this is true now.  However after reflection, my answer got more refined.  Some may find it typical Realtor/salesaman speak but it’s true if you look at all things combined.  Where are the good deals in Sacramento?

The entire market is a good deal.

Here’s why:

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Tags: sacramento homes for sale