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Market Conditions in Elk Grove : Real Estate Advice

  • All292
  • Local Info11
  • Home Buying133
  • Home Selling16
  • Market Conditions10

Activity 9
Sun Sep 23, 2012
Rich Pulido answered:
Badi, Im not sure which condos you muight be referring to? Please be more specific in order to help you find the answer you may be looking for. To search for local rental statistics you try a website http://www.rentrange.com/ . ... more
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Sun Jul 18, 2010
Sue Archer Reynolds answered:
there is a small amount of bank owned homes in the market because those that are bank owned have been held. When they come out they are quickly put in contract in a competitive bidding by buyers who are waiting. So while bank owned homes inventory has lessened, short sale homes are more prevalent and are being sold much more prevasively than what we experienced 5-6 months ago. And the pricing may be even better than with the bank owned homes that come to market.

You need to work with an experienced realtor who is working this market full time and is experienced in the current market conditions. There are strategies that work to get you the home you are seeking, but it will require patience and perserverance.

You might want to review other questions that have been posted here discussing the current market.

Good luck! It WILL happen for you!
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Thu Mar 12, 2009
Alex Amaro answered:
Christina, as much as I would like to help you, these are questions for an attorney. What I can tell you though is that a bill has passed the House and is on to the Senate to allow BK judges to modify your loan in bankruptcy. This has not been finalized but there may be hope for you there. Again, as Realtors we are not able to give legal advice, especially concerning BK. If you'd like to talk to an attorney I personally know and trust, contact, Marc Caraska at 916-248-8078. Good luck. ... more
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Sat Feb 28, 2009
Sue Archer Reynolds answered:
Price range is going to determine what neighborhoods to consider, but yes, almost without blinking you can find homes that will cashflow easily, even if counting the cost of your downpayment in the equation.

Elk Grove could be considered if you were looking for more newer homes, that are larger square footage. Natomas area also has the newer homes so both areas were hit harder from a foreclosure market standpoint. Then you have North Highlands with homes under $100,000 purchase but they're older, more established neighborhoods and has a higher concentration of people that rent homes.

I think there's more discussion needed as to what else you consider important in your selection because there's so many to choose from.

But that was just referring to bank owned homes. I have been even more successful in the last month in obtaining short sale homes for my clients. YES! If you read many of my earlier responses I recommended staying away from short sales but banks are now responding, and my system is working....and I have little to no competition in my offers.....but that's another story.

Jmail, now is the best time to determine what area(s) you want to focus on because we are still anticipating the release of a large onslought of bank owned homes to the market in the next month or two. Learning the specific area market now will have you prepared to respond quickly when those homes are released.

Good luck and have fun!
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Thu Oct 2, 2008
Sue Archer Reynolds answered:
No they've not gone down as much, in my observation. The reason is that it's a stable market with seniors and less foreclosure properties that would negatively affect their pricing. (I'm assuming you're referring to the active adult communities offered by Del Webb)

If you have access to our MLS then you can do the analysis yourself. If you need help with that, please contact me. I'm assuming you have a local client?
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Sat Mar 14, 2009
The Hagley Group answered:
UInfortunately, the sales activity is due to lenders getting more realistic in pricing their bank owned inventory to sell. If you can afford to hold onto your home and make it a rental, that is what I would recommend. Hang in THERE! ... more
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Fri Apr 24, 2009
Tara Steinke answered:
Hi Aaron,

Visit your county tax collector/assessor's office to obtain the paperwork required to request a tax base re-assessment. You can also check the county tax assessor website. Often the paperwork is made directly available online. You need to file an Application for Review of Assessment. In San Diego county you need to submit 3 recent comparable sales (within the last 3 months) to justify the new tax base that you are requesting. It may be slightly different but is likely very similar for your county. Just follow the instructions in the paperwork. You simply file this request, along with the comparable sales, in person at the county tax collector/assessor's office. You typically must file your request by May 30th in order to obtain a re-assessment effective for next year's taxes.

Contact a local real estate agent to request a list of recently sold comparable properties. A service oriented agent will be happy to do this with the intent to earn your business in the future.

I hope this helps!
Tara
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Fri Dec 12, 2008
Erin Stumpf (Attardi) answered:
Hmm...well that depends on a lot of factors. Neighborhood, square footage, features, amenities, and more. If you want to shoot me an email (just click my profile) with more information and ideally your address, I would be happy to do a market analysis for you.

I just took a listing in Elk Grove on a 4bd / 2.5ba house of about 2000sf that will not hit the market officially until the end of the month. 2 years ago the property appraised at nearly $500k...we have listed the property just under $400k. As I am sure you know, there is a LOT of inventory in Elk Grove right now...
... more
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Tue Aug 3, 2010
Cammie Gentry answered:
YES, but I think there are a lot of buyers out there! So, there is demand to live here...It is a good time to buy!
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