"The East Sacramento anomaly: Homes in established neighborhoods fly off market"
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...
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...
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.