Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Market Conditions in Sacramento : Real Estate Advice

  • All1K
  • Local Info162
  • Home Buying682
  • Home Selling80
  • Market Conditions82

Activity 114
Thu Aug 25, 2011
Richard Murphy answered:
Well If you think this is Bad hold on because the Second wave is about to begin.
They are saying it won't happen, but they are just wishing and talking at the same time.
This is worse than the 1929 Crash but they don't want Panic to happen so they are just pretending.
If you look at the planet as a Financial unit you would see every thing is off balance. The Cash Investor and Private Lenders are the only way to fix this. If every one put their retirements into Mortgages right now they would not only make their principle back but the $260,000.00 each loan earns over the life of the loan, so I guess the half of 1% is what everyone wants instead of 6 to 18% annually. but you nor I can go in and purchase these home for cash and sell them to another Buyer, because the Bank and Government are not Smart enough to see past their own job security that there is a solution and they are not it.
They have tried every thing they know and we are worse off now.
I would like to see Investor Groups come in buy up all the bank Foreclosures and all the Distressed properties then resell then with new Loans so we can get on with it. If we leave it to them we will not recover from this...
... more
0 votes 9 answers Share Flag
Fri Jun 24, 2011
Bud Zeller asked:
With a $10 billion state budget shortage, between revenues and expenditures, Gov. Brown put a hiring freeze on state workers beginning in January of this year.

So how is that going?…
0 votes 0 Answers Share Flag
Mon May 30, 2011
Bill Eckler answered:

Thank you for recognizing my response in such a positive light.....
I found your post to be thought provoking and one that brought an important issue to the forum for discussion.

Your point is well taken....because something is acceptable, doesn't nake it right.

Best regards,

... more
0 votes 40 answers Share Flag
Sat May 21, 2011
Doug & Bud Zeller answered:
Jane, "Every area is different"...Averages across the Nation are deceiving to local markets. Stability of home values remains to be seen, but let's remain optomistic!
0 votes 6 answers Share Flag
Tue May 10, 2011
Jim Walker answered:
There are temp agencies for that. Some specialize in real estate and mortgage personnel. Others are general office.
0 votes 5 answers Share Flag
Thu Mar 31, 2011
John Arendsen answered:
I can see that this conversation has gone bipolar. We think from the opposite sides of our brains respectively so there will be no winners in this conversation except Jim Cramer. He actually led my Ira's out of the abyss and me into day trading with his call on underwear.

Haines Brands! Can you believe it. His tip was that underwear, like toilet paper and water, was a consumable item and would need to be replaced frequently. I actually believed him and bought into it in March of '09 thinking that with the economy tanking and people panicking there would be a whole lot of folks in need of several changes of underwear before it was all over.

Voila! Iam proud to announce that when I finially sold in March of '10 and underwear seemed to have peaked I had realized a 150% profit. Atta boy you Mad Mad Man You. keep up the good work Jimmy baby.
... more
0 votes 10 answers Share Flag
Tue Mar 8, 2011
Suz A answered:
Hello again, Douglas.

I've seen other opinion pieces like this one in the Christian Science Monitor. So more than a few people think it possible that telecommuting jobs may transform real estate. The Monitor author seems to think a construction boom is coming.

When I lived in Brentwood, CA, I sold a home to a web designer who told me he expected more people would discover this little town off the beaten track. He was right, but then came the implosion and the real estate bust.

I'm not saying the designer was wrong. It might take longer as gen-Xers grow older. But, is it so far fetched to believe people want to spend their time with significant others walking trails and riding bike paths - instead of commuting two hours a day? The highways are going to get more congested. Mass transit is expensive. I think many people will opt for a better lifestyle away from the hustle and bustle of the metro areas. I also like older neighborhoods that are being re-discovered.

Here is the link for the opinion piece in the Monitor:

My best,
PML of Longmont
... more
0 votes 13 answers Share Flag
Sun Jan 23, 2011
Leon Williams answered:
New Home Reviews gives Centex an overall rating of 3.6 out of a possible 5. In the category of After Sales Service they give a 2.38
0 votes 3 answers Share Flag
Wed Dec 1, 2010
Jillian Lopez answered:
Well if it is anything like San Diego you are looking at a very significant drop. I would love to refer you to an agent in the Sacramento area.
0 votes 2 answers Share Flag
Tue Nov 9, 2010
Maurice Thomas answered:
Yes there will be a impact. The million dollar question is, "how much of an impact?" It truely depends on the true agenda of the politicians.
0 votes 3 answers Share Flag
Fri Nov 5, 2010
Jim Walker answered:
UPDATE: That 90th percentile has dropped (3 counties EDH, Sac, Placer) from $549K in February to $489K and in just Sacramento County from $399K to 350,001.

Can anybody tell us what that says about the upper part of the market? median prices seem to be moving sideways? ... more
0 votes 8 answers Share Flag
Fri Nov 5, 2010
Jim Walker answered:
I eliminated the category of short sales in contract, but awaiting bank approval, to arrive at the number of 9433. If you add those the number shoots up to 12,274.

I am using Sacramento, Placer and El Dorado counties.

The October sales showed Metrolist reporting about two thousand sales... So it is either 4.7 months or it is 6.1 months.
I'll go with the 4.7 because I don't consider a house under contract is really part of our truly available inventory. In a stretch maybe, but usually the buyer wants to complete the deal if the bank agrees, and the buyer can get a loan.

This is a broad search includes town homes, condos and luxury homes. These categories usually have longer marketing times than an "average house"....

For a realistic point of view assessment for most buyers not seeking luxury or devastated fixers lets eliminate the 20% most likely to sit longer. I'll look at only single family homes under $400,000. NO fixers, no condos.

That is 1600 sales. 6960 listings That is 4 months 10 days average. Add the 2300 short sales in contract awaiting bank approval, we are up to 9260 5.months, 3 weeks.

For a further breakdown: The 9260 can be broken into 5,000 short sale listings and 1625 that are REO and 2635 other.
For the 1600 October sales the numbers approximate 400 short sales 625 REO (Bank owned): 600 other.

Broken down, the short sale inventory is approximately 6.75 months, The REO inventory approximately 2.6 months and the other at about 4.4 months.

When the media reports inventory , consumers sometimes fail to realize that "the inventory" usually includes thousands of houses that are unsaleable to them either because of condition, location, price or other factors. Then they are shocked to find that there only a few houses with motivated, willing and able sellers that match their search criteria.
... more
0 votes 1 answer Share Flag
Thu Jul 8, 2010
David Jurewicz answered:
It almost doesn't matter what the market does if you take a long term view to real estate investment. However, short term investors are the ones concerned whether the market is going up or down.

So I urge you to please watch the video below for an explanation of one of the most conservative ways to get wealthy with real estate regardless of the marketplace.
... more
0 votes 12 answers Share Flag
Wed Jul 7, 2010
Jim Swanson answered:
Well, it looks like a concensus, then. HOLD!! If you don't need the money and it doesn't cost you anything to hold it, then just keep it. Real estate is the only commodity the constantly incereases in value (generally). Our tax laws a written to advantage real estate investment over any other.

When you find something else you'd like to own, sell this at that time and put the proceeds into the new property. If the new property is also a rental, you will get a great tax break. Try that with the stock market!

You are in a great position on this property. Congratulations.
... more
0 votes 14 answers Share Flag
Tue Jul 6, 2010
Jim Swanson answered:
Any of these neighborhoods are a good bet, for the most part. There are streets in any of these areas I'd not want to invest. You'' know the ones when you see them.

Generally, newer construction will pay off better because there is less maintenance expence and they will remain attractive as time goes by. On the other hand, if you can invest in the property and improve an dupgrade it as time goes on, this will pay off well, too.

It really depends on your own vision and tastes. I usually advise people to buy what they find attractive. Chances are, other people will find it attractive, too. And, that is what makes properties appreciate, at the end of the day... attractiveness.
... more
0 votes 5 answers Share Flag
Thu Jul 1, 2010
Ted DeFazio answered:
I would stay away from the "Big-Box-Mega-Banks" when you feel an appraisal is going to be difficult. I have found that using a locally based lender makes the process much easier. They tend to use appraisers who know the micro markets and are well versed in neighborhood values - not just a guy who is willing to work cheap. ... more
0 votes 8 answers Share Flag
Sun May 23, 2010
Sunnyview answered:
Personally, I would target other areas besides Antelope or Elk Grove. Both were wildly overbuilt and both haveissues that would not make them strong from a rental investment portfolio point of view. You need to ask any agent that you plan to hire how long they have been in Sacramento, how much experience they have in setting/handling rentals in the areas you are considering and whether they have ever short sold/had their house foreclosed in the last 6 years.

Any agent that has limited experience in Sac County or a short sale/foreclosure would not be my first choice. Many agents moved to the Sacramento area during the boom, but are not familiar with the underpinnings of some of the neighborhoods that will affect both the direction of values and rents. It is really important to find an agent that understands the market and that has been in the business long enough to see the Sacramento boom bust cycle before. They will be able to give you advice about what neighborhoods/areas are likely to remain strong and what areas will make good rentals moving forward.
... more
1 vote 8 answers Share Flag
Thu May 20, 2010
T.Neathery answered:
The help guys at the MLS can clear up any questions you may have - also, you can help yourself by downloading the chart-making program from this website (FREE):
Be sure to specify Rappatoni and print out the instructions first and read them. Be sure you know what the definitions of "Comps" and "Neighborhood" are. Don will also take your data and do it for you for a nominal fee.
Most useful for a listing presentation to go along with your CMA.
... more
0 votes 3 answers Share Flag
Sun Mar 14, 2010
Joanna Jensen answered:
Hi Dee,
You may have options to reduce your payments and your principal depending on approval of course and your scenario.

Has your financial situation changed? Seems like it has.

There are several programs out there for homeowners. Depending on who your lender is, the balance of your first mortgage, and your gross income, you may qualify for a loan mod.

Take a look at your mortgage payment on your first loan. Is your principal interest taxes and insurance more than 31% of your gross income?? that is the first qualifier.

If your only paying a new am or interest only payment then you would need to calculate the regular payment.

Call your lender, make sure you already have your finances written down. You will need income documentsion, hardship letter, etc. Your lender will tell you what is required.

Most lenders are doing some kind of workout.

If you want to keep your home and need help, please give me a call, I am happy to help.

Joanna Jensen
Legal Realty
925 699 5041
... more
0 votes 7 answers Share Flag
Sat Oct 17, 2009
Ute Ferdig answered:
Hello Eileen. You can go to and put in the property information to get an idea of how much your house should rent for. Please keep in mind, that there is also value to having a tenant that takes care of the property and pays rent on time. If you already have a good tenant, you may want to keep the rent at the current rate even if you could get a little bit more. I hope this helps.

Best regards,

Ute Ferdig,
DRE # 01326917
Ferdig Real Estate Solutions
... more
0 votes 1 answer Share Flag
1 2 3 4 5 6
Search Advice