General Area in Elk Grove>Question Details

Kari Franklin, Other/Just Looking in Santa Cruz, CA

I am looking to relocate in the next year. I am considering Sacramento and would like to know about Elk Grove

Asked by Kari Franklin, Santa Cruz, CA Tue Jan 8, 2008

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What is Elk Grove like...interesting question. Elk Grove is a nice area. In 1850, Elk Grove consisted of a stage stop and hotel 15 miles south of Sacramento. Today, Elk Gove/Laguna is a burgeoning family community with everything from a Strauss festival to equestrian events. Depending on what part of Elk Grove you are thinking about, parts are very rural - with large (1 acre +)homesites off the public power, water, and gas grids...while other parts are densely filled with tract housing.

The real estate market in Elk Grove represents the epitome of the mass media hype with regard to the declining real estate market. There has been a dramatic decline in value there since mid-2005. I have a short sale listing right now that actually closes escrow on Thursday. Two years ago the property was appraised at $505k. The lender approved the short sale for $320k! If you are looking to purchase there, I suggest you connect with a local agent who works regularly in that area, and keep your finger on the pulse of the market there.

Elk Grove Unified School District is one of the fastest growing in all of California, and is well funded. There are many new schools that have the latest and greatest bells and whistles...

There are some fantastic deals to be had there - just make sure you do not overpay there...my husband used to live in Felton, and I know home prices in Santa Cruz must make the Sacramento metro area look extremely inexpensive by comparison!
Web Reference: http://www.erinattardi.com
1 vote Thank Flag Link Tue Jan 8, 2008
Erin Stumpf…, Real Estate Pro in Sacramento, CA
MVP'08
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Elk Grove is a growing city about 8 miles south of Sacramento. During the real estate bubble, it was a boomtown. I have toured about four dozen homes in Elk Grove in the past month; I noted that prices were discounted between 20% to 45% below their values at the peak of the real estate bubble.

Elk Grove is an excellent choice for a buy and hold investment strategy. Especially for owner occupants. When the economy recovers, Elk Grove will too, because it is a nice city with a desirable school district, good amenities, many choices of shopping centers, employment opportunities in town and nearby.

More research is recommended here are some links:

MLS Search - no registration needed http://www.metrolistmls.com

http://www.elkgrovecity.org/community/about-elk-grove.htm (city of Elk Grove)

http://www.egusd.k12.ca.us (Elk Grove School District)

http://www.sacsheriff.com (Crime statistics and Maps)
1 vote Thank Flag Link Tue Jan 8, 2008
Jim Walker, Real Estate Pro in Carmichael, CA
MVP'08
Contact
Give Tracey Saizan a call, she's a specialist in Elk Grove; tell her Melanie Narducci, a fellow Women's Council of Realtors member said to give her a call! Her number is 916.761.8180
1 vote Thank Flag Link Tue Jan 8, 2008
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