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Darren Miller, Real Estate Pro in CA (Licenced in 50 S...

Do you think the South Placer market is going to be hit as hard as Natomas, Elk Grove, Antelope, Etc.?

Asked by Darren Miller, CA (Licenced in 50 States) Mon Aug 27, 2007

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Hit hard, but not as hard as those other three areas, Lincoln has been and will be hit hard. East Roseville, Granite Bay and Rocklin did not enjoy / suffer as much overbuilding in 2005 as the other 4 areas. Prices were and are higher in these areas which tended to herd marginal buyers toward more affordable new home locations such as Lincoln and Antelope, and some areas of Northwest Roseville. .
1 vote Thank Flag Link Mon Aug 27, 2007
Jim Walker, Real Estate Pro in Carmichael, CA
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House prices will eventually settle back to sustainable which is about 2 to 2.5 times yearly income.

Based on census incomes, I calculate the median house
in Roseville will be $50 sqft
in Rocklin $75 sqft
and Granite bay $90 sqft

But Credit markets ALWAYS over correct first and if you add in the uncertainties:
bad, unsure economy, massive job losses, retiring baby boomers selling and downsizing, higher medical costs, higher taxes, higher energy costs— causing massive inflation on everything we need, and a bad attitude toward home ownership since the majority in the housing industry is dirty and UNETHICAL

— prices will WAY over correct. This is just common sense and math.
0 votes Thank Flag Link Sun Apr 22, 2012
Regional fluctuations aren't reasonably predictable because in the aggregate who moves when, and under what circumstances has more to do with the local employment situation. The areas you mention, Natomas, Elk Grove and Antelope, are lower income regions, and those are the regions most harmed by corporate outsourcing and down-sizing. South Placer is a little more white collar and has a relatively vibrant local economy, so the answer to your question is no, South Placer will do better. But keep in mind, the inventory of REOs is still high, and as those arise and clear in various neighborhoods, local action could be surprising. The key, I believe, to the future, is to what extent the federal government remains in lending. Fannie Mae and Freddy Mac are running on fumes. Should the government ever abandon those or other substations, and if real estate loans drop to private investment only, the whole complexion of real estate is going to change. Not knowing when or to what extent this may manifest, the bottom line is if you're in a position to take a new loan now, I strongly suggest you do it. Prices will not stay this low forever, and interest rates will not stay this low forever either. Put a roof over your head, take the mortgage deduction and BORROW a reasonable amount for your income. The risk/reward is in YOUR FAVOR!
Web Reference: http://www.lanerealty.net
0 votes Thank Flag Link Tue Mar 29, 2011
It's funny how all the realtors answer the same way: 'no way will prices go down more!"
The Rocklin and Roseville area has already been hit hard and prices will continue to drop.
Once interest rates start going up, there's no other place for prices to go but down.

As long as you plan on living in your home for the next 10 to 15 years, then now is a good time to buy.
It's not the best time to buy, but it's alot better than if you bought 5 years ago.
If you really want a great deal, wait another 2 years, there will be more foreclosures available then.
0 votes Thank Flag Link Sat Mar 12, 2011
No, I do not believe the South Placer market will be hit as hard for several reasons. First, these communities have been built with "the whole community in mind" when being designed by city planners for functionality and full enjoyment of property by it's homeowners. This area also thrives now, just as it has in the past on small independent business which drives and grows our economy. This area also provides a lower crime rate, newer safer parks and schools for our children, and easy access to either mountains,nearby cities or coastal areas. South Placer is a much sought out community with people moving here from all over the region whether relocating here for career, family or retirement reasons people come here to stay. Building beautiful communities whose outcome will eventually enjoy growing home equity and high property values. Placer has room to grow in and a fresh vitality within a more peaceful and safer environment than those other areas can offer.
0 votes Thank Flag Link Wed Jul 14, 2010
I don't believe it will be hit as hard. There is so much commercial growth still happening in South Placer County and they are still selling many new homes out this way, many with Solar and the incentives are tremendous. I have lived in Rocklin itself for almost 10 years and in Sacto and Placer Counties for about 30 years. It is very different out here. Lower crime rates, excellent schools, lots of people involved with their children and the community as a whole really makes a difference. They are building smart out here also except for Highway 65- which I think should have been larger, but this area will continue to be a desired place to live. In Natomas you have the flooding fears and Elk Grove is closer to South Sac- It just seems like as a whole there is less traffic out here, except on weekends and of course closer to the holidays the malls get overcrowded. Anyway, that's my opinion. I have lived all over Northern Ca from Monterey to Redding to Tahoe and Bay Area- I absolutely believe Rocklin to be the best place to live & work.
0 votes Thank Flag Link Thu Nov 1, 2007
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