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Market Conditions in 95835 : Real Estate Advice

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  • Home Buying26
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Activity 69
Sat May 21, 2011
Phil Rotondo answered:
I agree that foreclosures sales were up in the first 3 months of the year.
As far as predictions, they are very difficult especially when it's about the future.
0 votes 6 answers Share Flag
Tue May 10, 2011
Eddie Martini answered:
Linda what firm do you work for? Do you ahve an office manager or onsite broker? If you do not then keep reading otherwise check in with them as to what they suggest you do.
THe good news is you just need to SIGN UP on most sites and keep a close eye for the email invites to new properties needing value. Seearch for Property Valuation COmpanies and sign up for ALL of them you can find. Try and keep a similar user name and password if you end up signign up for multiple sities so you can easily sign in when you get notice of new properties needing BPO valuation. I can tell you that EQUATOR is overloaded with agents in our area and that site in my personal opinion is not worth paying for higher exposure. Again your broker and or manager may have a different outlook so check with them... otherwise let us know if you need more help... ... more
0 votes 6 answers Share Flag
Thu Mar 31, 2011
Lisa Jonsson answered:
The central valley will definitely be slower to recover than the coastal areas. Those areas in general did not lose as much value as the central valley and were more stable. Just a few years ago, the central valley saw a boom in development and demand for homes, unlike it had ever seen before. The adjustment is much more difficult and will last longer. The Sacramento area will definitely lag in recovery compared to some other areas of California. ... more
0 votes 11 answers Share Flag
Sun Jan 23, 2011
Keisha Mathews answered:
Hi Jone

Maybe this will help you.
http://www.jdpower.com/homes/ratings/home-builder-customer-satisfaction-ratings/sacramento/

Hope that helps, Keisha :)
0 votes 4 answers Share Flag
Tue Nov 9, 2010
Jim Walker answered:
The election results will influence the Virginia and Maryland suburbs of Washington, D.C. as there will be a lot of moving boxes out and in.

You can expect that Republicans will work to protect banks and other corporations, as much as they can. However, the federal DOJ is still run by nominal democrats Eric Holder and Potus B.Obama.

Realtors and our consumer clients can expect more nonstop illegality and bad acts from the banks and their outsourced foreclosure service providers.
... more
0 votes 2 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.
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0 votes 0 Answers Share Flag
Wed Jul 7, 2010
Ute Ferdig - Atty. Negotiator answered:
Hello Eileen. I am not sure I understand your question correctly. It appears that holding on and keeping it rented are the same thing. What would you do if you don't keep it rented. Are you considering moving in yourself or selling? Could you please clarify your question. ... more
0 votes 16 answers Share Flag
Sun Feb 27, 2011
Ed Favinger answered:
Ravi...

As a former San Jose resident of 20 years now living up here I can tell you that you'll be able to get a "cash flow". As Elizabeth says....they "pencil out".

In the area you live... you could put down a lot of money and still have a negative cash flow. Up here you can get a return on investment from "cash flow" rather than relying on appreciation that investors in the Bay Area have come to expect.

The market is pretty good here and you'll probably have to make more than one offer before you get the property you want because of the competition from investors.

I hope this helps...

Make it a great day....
... more
0 votes 9 answers Share Flag
Thu Jul 1, 2010
Andrew Martinez answered:
I have in the past provided the buyer or home owner comps to show the appraiser. Once the apprasial is done and then you want to dispute the value good luck.

The days of asking for a specific appraiser are over its all done through a thrid party vendor so don't think asking for a local appraiser will work. ... more
0 votes 8 answers Share Flag
Tue Jul 6, 2010
Jay Emerson answered:
Thu Jul 8, 2010
Steven Ornellas answered:
Hi Lise,

You can review basic Sacramento stats here as a start:
http://www.trulia.com/real_estate/Sacramento-California/market-trends/

Best, Steve
0 votes 12 answers Share Flag
Thu May 20, 2010
Keisha Mathews answered:
Fri Nov 5, 2010
Johndoe answered:
Thanks Elizabeth - yes, I was referring to luxury homes.
0 votes 10 answers Share Flag
Sat Oct 17, 2009
Ute Ferdig - Atty. Negotiator answered:
Hello Eileen. You can go to www.rentometer.com 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,
Broker-Owner
DRE # 01326917
Ferdig Real Estate Solutions
... more
0 votes 1 answer Share Flag
Sat Oct 17, 2009
Bill Belby answered:
Are you making money from your rental ? Is it being kept up? Do you need to sell It? Is it a business that you like? Owning rental property is one of the best ways to invest in your future. Use your equity wisely but re-invest it. If you like the rental business consider buying another property or 2 . This is a great time to be buying rental property. ... more
0 votes 14 answers Share Flag
Tue May 12, 2009
Dale Warfel answered:
Reenu, I have some excellent resources in the Sacramento area. I have sent many investors to work with them. They are very familiar with the area and can update you on the current rental situation. Please e-mail me at Dale@DaleWarfel.com for details. ... more
0 votes 4 answers Share Flag
Mon May 11, 2009
Sue Archer Reynolds answered:
are you asking about loan modifications or loan refinancing? Loan modifications are done by your existing lender, and normally based on some current or pending financial hardship situation. (Again, they're looking at WHY would they want to modify.

To complete a loan modification request, you need to prepare a package of your financial situation and submit it to your lender, normally via fax. Based on their alternatives, will be what a lender will offer, if anything.

I will ask my lender, Mark Holmes to contact you directly about loan refinance options or you can reach him at (916) 837-4360
... more
0 votes 4 answers Share Flag
Mon Mar 23, 2009
Elain Szu asked:
Trulia Elain here and we're looking for ways to meet the needs of HOME BUYERS and SELLERS -- in YOUR area about topics that most care about. Take two seconds to let us know here:ht...
0 votes 0 Answers Share Flag
Wed Jan 28, 2009
Sue Archer Reynolds answered:
Try this site. http://sacrealstats.blogspot.com/2007/01/vacancy-rates-continue-to-climb.html

There's rates for apartment buildings or commercial buildings that are separate.
0 votes 2 answers Share Flag
Wed Jan 21, 2009
Sue Archer Reynolds answered:
There has always been a foreclosure market. The question is the degree to which it dominates our inventory.

I think we're moving towards more of a short sale market. While I think more of our inventory is currently short sale, they weren't the properties that we could get to the 'sold' status. The difference is we're now closing more in the short sale status than ever before. The original statistic was around 5-7% that would be able to avoid foreclosure by selling in a short sale status. I don't know what it is now for the general public, but I've been able to get a short sale approval on my listings within 2 weeks, and my buyers of short sales have been able to get responses as well.

Alot depends on the listing agent's ability to package the short sale submission and their ability to communicate this correctly to the lender. Too often the distressed seller is relying on their relative who does real estate part time to help them. This isn't a market for the part time realtor.

I think in the next two years, realtors will be selling more short sales. If they do, the foreclosure market will be reduced but it's anyone's guess as to when this is all resolved. It's jusr one piece in the whole national economic puzzle.

What do YOU think?
... more
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