Posts Tagged ‘ Sacramento home prices ’

Real Estate Market Updates: El Dorado and Sacramento Counties

Market update provided by Wendi-Mae Davis Broker Associate/Real Estate Counselor at Connect Realty, Director of the California Association of Realtors (CAR), and Vice Chair Land Use/Environmental Committee

A quarterly Wall Street Journal survey of housing data in 28 major metro areas shows that the glut of unsold homes listed for sale is shrinking in most of them. Locally, in El Dorado County, the listing inventory has continued to go down for the last six months. Metro areas with the biggest drops in for sale signs include Sacramento and Orange County. Southern California saw sales jump 65% from a year ago—More than one-third of those sales were from foreclosures. In Sacramento, we saw sales go up 82% from last September with 64% of those being bank owned properties. El Dorado County sales are about 30% to 50% bank owned real estate.

Where Sacramento home prices are heading is tough to predict.

We have the election results, the U.S. government bailout program, the continued commitment of major lenders to modify thousands of existing mortgages, the law SB 1137 that went into affect on September 8th that slows down the foreclosure process. (Ask me for full details) And, of course, the stock market slide in October.

Ok, some good news and some bad so what happens next? That’s where the challenge of predicting the market comes in.

Click to learn more about Sacramento real estate and Sacramento home prices on HomeGain.

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Posted by: Jessica Gopalakrishnan on November 14th, 2008 under Market Trends, Regional


The Sacramento – Roseville Real Estate Market is Changing

The real estate landscape is changing in the Sacramento and Roseville areas as we speak. Is this a temporary change or a sign of things to come?

Sacramento Real Estate

The prices have drastically reduced in our area for the past two years or more and in some cases, have dropped two thirds in value.

The reasons are obvious with all the adjustable mortgage rates, economy, and in many cases, people did not see a reason to stay in their home when the value had dropped so much. They literally walked away from it with hopes to buy a nicer, bigger home in two years at a great price.

But now, I am seeing a change in the past few weeks with mostly the foreclosure and short sale homes. The investors and the home buyers are now coming off the sidelines and out there making offers on these homes. This can be tough for a home buyer who must compete with an investor who has all cash or a quick close.

I have been in several multiple offer situations in the past two week and my buyers are wondering what is going on. Continue reading this post


Posted by: Joe Corwin on February 21st, 2008 under Regional

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