Home Buying in 95816>Question Details

Brett, Other/Just Looking in 95816

East Sacramento - good time to buy, or would I be trying to catch a falling knife?

Asked by Brett, 95816 Thu Jul 19, 2007

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6
You should read this article from the Sacramento Business Journal...East Sacramento is very solid and has experienced slight appreciation over last year.

"The East Sacramento anomaly: Homes in established neighborhoods fly off market"
http://sacramentorealestateblog.blogspot.com/2007/12/east-sa…
Web Reference: http://www.erinattardi.com
2 votes Thank Flag Link Mon Dec 17, 2007
Erin Stumpf, Real Estate Pro in Sacramento, CA
MVP'08
Contact
East Sacramento 95818 and Arden 95864 are the only two zip codes in Sac county with multiple sales that experienced a median price increase (3.2%) and ( 5.9%) between October 2006 and October 2007. East Sac Zip Code 95816 was the only zip code to have an increase in the median price per square foot (2.7%) in the same period.

Median price dives of 40% were seen in zip codes 95815 and North Highlands 95660.

Info interpreted from from Data Quick and Stewart Title company statistics...
2 votes Thank Flag Link Sat Dec 15, 2007
Jim Walker, Real Estate Pro in Carmichael, CA
MVP'08
Contact
Selling in East Sac for the last 7 years and living here for the last 18, I can say that East Sacramento is one of the few neighborhoods in the Greater Sacramento Area that buyers feel 'safe' purchasing in....established areas like this neighborhood usually tend to be the best areas to buy in when the market seems a little shaky....prices in East Sac continue to rise, albeit at slower appreciation rates than we saw during the record breaking double digit rises during 2002-2005...Compare this to areas like Natomas or Elk Grove and it's easy to see that as Sacramento continues to expand and the market in the outlying areas continue to slow, the "core" continues to increase in popularity and demand, effecting most importantly, price....

I specialize and live in East Sac and may be a little biased because I love the trees and the maturity of the landscape, but I would suggest for any homebuyer in this market to really think about the location where they are buying....one of the reasons that so many homeowners in newer areas are having such a tough time selling their homes is because there are 20 other homes EXACTLY like theirs on the market....that problem doesn't happen in more established areas...no home built in 1920 in East Sac is EXACTLY like any other in 2007...this is a HUGE advantage when it comes time to sell...there is something very appealing about finding your dream home and knowing it is the ONLY one of its kind...buyers are willing to pay more for that reason and sellers will have more of an edge because of this factor...


Sarah Campbell
(916) 223.2397
sarah.campbell@cbnorcal.com
2 votes Thank Flag Link Thu Jul 19, 2007
Here's an outside opinion (I'm not in real estate)...Do you have 20 % down? Are you moving to the area to live long term (5-7 year min.)? Can you afford your mortgage for a year if you lose you job tomorrow?

If you answered yes to all of those questions, then consider it. Remember, that whatever stats a realtor spits out at you you have to look at these economic indicators. Job growth is negative (expected loss of 80,000 jobs to be reported on Friday), while East Sac is nice, difficult financing will slow any growth pace and speed up any depreciation. So while you make walk into an immediate 5% loss your first year, if you plan on staying past your 3 year anniversary, you may break even.

East Sac is great, I owned a home on T st. before moving to Midtown. But unless you are going to be a long term resident, wherever you live, it's a risk in buying. Don't let your realtor tell you all real estate is local, thats a tagline not based in reality.
0 votes Thank Flag Link Wed Apr 30, 2008
The market seems pretty hot in East Sacramento. I tried buying a house there and it went for full asking after 3 days on the market.
0 votes Thank Flag Link Fri Dec 14, 2007
Supply and demand. A finite amount of homes and virtually no vacant land keep local markets like East Sac in good standing no matter what the rest of the area is going through. Proximity to downtown, the CSUS campus and all general services make the location practical. Tree lined streets, charming homes and residents who take pride in their homes make the neighborhoods beautiful. There is never a bad time to buy in a great area. After all an in-demand location now will be great location forever.
0 votes Thank Flag Link Sun Dec 2, 2007
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