What happened to "1624 Impressionist Loop, Roseville"? Did it get sold or delisted? Is affordable program a problematic when selling after 2 yrs?

Asked by Sacramentor, Roseville, CA Sun Dec 22, 2013

I got notification as it went pending from one site while others say that it is delisted. What was the issue with this home or surrounding single family homes in same complex as they are in market for long time? Is something to do with Roseville affordable program? Let's say if I end up buying after restriction expired, then is there problem or restriction when I try to sell it after 1-3 years? Any disadvantages I should worry about? Otherwise school wise this area seems to be pretty good. So why these homes are some what distressed? Thanks in advance...

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6
Sacramentor, Home Buyer, Roseville, CA
Mon Dec 23, 2013
Thank you all for quick responses. Appreciate it.
1 vote
Bel Kajla, Agent, Rocklin, CA
Sun Dec 22, 2013
Hello,

I had a listing at 1121 Impressionist Loop that came on the market Aug 29 2013 for $262,000. For the first 60 days it was available only to individuals approved through the City of Roseville Affordable Program. The seller however had some personal reasons for increasing the price and then decide not to sell. She may be reconsidering and selling possibly this spring. Please let me know if your interested in any more information.

Thank You
Bal Kajla
530-218-3503
Lyon Real Estate
0 votes
Jason Walter, Agent, Sacramento, CA
Sun Dec 22, 2013
The agents below are correct. It has gone pending after being on the market for 79 days.

Thanks,

Jason Walter

REALTOR® - lic #01923240
Certified Public Accountant (CPA) - lic #103885
Hammer Real Estate Group
jasonwalter.re@gmail.com
0 votes
Jan Barrett, Agent, Roseville, CA
Sun Dec 22, 2013
The property is pending. Homes originally purchased under the affordable program must for the first sixty (60)* days on the market be sold to another income-qualified purchaser. After sixty days anyone can buy it.
0 votes
Karen McPhail, Agent, Roseville, CA
Sun Dec 22, 2013
The homes in this specific subdivision are not necessarily "distressed." The buyer demand for this type of property can be less than traditional single family homes because the smaller lots and shared driveways are not popular with some people looking for more outside space and privacy.

What Jesse Coffee said is correct about the market slow-down and the status of this home. It is currently in escrow with a buyer. This doesn't mean the sale will be completed, because unforeseen things happen to cause homes to come back on-market.

If you are relying on Websites such as Zillow, Trulia, etc, bear in mind that they are not necessarily up to date on status changes, and may not show the entire picture of home availability. If you are seriously looking for a home to purchase, your best bet is to find a local Licensed Real Estate Agent whom you would like to work with. A local licensed Agent will have immediate access to homes for sale and is familiar with the homes and financing programs in the area.

Also, I recommend getting pre-qualified with a trusted lender before your home search begins, so you know what you can afford. Lenders can counsel you on the best financing program for your situation.

Good luck to you.

If you decide to interview agents, I'd love to be considered.

Karen McPhail, BRE # 01115534
Lyon Real Estate
916-705-2647
0 votes
Jesse Coffey, Agent, Roseville, CA
Sun Dec 22, 2013
Hello,

This home has been pending since 11/20/2013.

The market slowed in May when the interest rates jumped 1%. Things have been fairly flat since and it is now normal for homes to take 30-60 days or more to go into contract. Homes overpriced tend to sit longer as well. Seven months ago even overpriced homes would go into contract immediately. The holidays also slow things down as well. I have many clients waiting until after the first of the year to list and to buy.

I believe as long as you don't purchase the property using the City's Affordable Housing Program you should not have any restrictions. The link below has more information about the City's Affordable Housing Program and subdivisions that are included in the Program.

Thank you,

Jesse Coffey
Keller Williams Realty
548 Gibson Dr. Ste 200
Roseville, Ca. 95678
Ph (916) 872-7775
Fax (916) 960-4594
Realtor
BRE #01879755
http://www.homesearchinplacercounty.com/

Download my mobile App
http://jessecoffeymobileapp.com/
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