Real Estate Trend From 1998-2007
January 7th, 2008 categories: Real Estate, Sacramento
Have you ever wondered what Real Estate looked like from 1998 until 2007 in the Sacramento County area?
To the left is a chart of how many residential, single family homes SOLD in Sacramento County from 1998 through 2007.
As you can see there was a dramatic change from 2005 to 2006. Homes are still selling and we are about at the same level of sold homes in 2007 as there was in 1998.
However, if you look at the total 10 year real estate trend, you can see that there is a natural curve (NOT a real estate bubble), but a normal low, high and low again. This is typical in Real Estate. Every 10 years this happens. The numbers do not lie. Mortgage loans are usually the culprit, just as they are now with the sub prime loans.
Which brings me to what I continue to say over and over again make sure that you have a reputable mortgage Lender. So many home buyers just listen to the interest rate and dont focus on the entire loan package. This is another reason why is it essential to have a full time, experienced Realtor in your corner.
As far as average sold prices in the Sacramento County area from 1998 through 2007, the chart to the right shows a slight decrease in sold prices for 2007 as compared to 2006.
Many have asked what I predict in Real Estate for 2008.
Since interest rates are quite low and sellers are willing and able to negotiate the sale of their homes, I have a positive outlook for 2008. While vacationing in Hawaii, I received 7 calls from new home buyers and investors which I am currently working with. The home buyers are coming and are eager to see homes that are of quality and priced to sell.
The smart home buyers are in the process of buying their houses. While in Hawaii I watched a TV program where Donald Trump was interviewed by Erin Burnett and stated that now until the next 6 months is prime time to buy a house, condo or property. Since, Donald Trump has been a successfully Real Estate tycoon, I would certainly make assumption that he is on the right track with his predictions. Check out the video on CNBC above.
Yes, there will continue to be homes in foreclosure and bank repo homes for sale along with Sellers who are selling and in my experience are much more willing than the banks to negotiate. Not to mention the fact that the homes for sale by Sellers are in better condition.
I will have to agree with Donald Trump and say that this is a GREAT time to buy a house or condo. It is not a good time to flip if that is what you are considering but if you plan to hold on to your investment this is an opportune time to buy a house, condo and invest.
Be sure to click on the link and feel free to see what homes, condo, land and investment property is for sale in Sacramento County, Placer County and El Dorado County.
When you are ready give me a call at 916“417“2699 and lets get started finding your home, today.
Other Sacramento Real Estate Market Reports:
Did Homes Sell in Sacramento During December 2007?
Sacramento Home Sales Report for November 2007
Home Sales in Sacramento for October 2007
Sacramento Real Estate Home Sales for July 2007
Home Sales in Sacramento County for June 2007
Sacramento Home Sales Report for May 2007
Sacramento Real Estate Home Sales for April 2007
March 2007 Sacramento Home Sales Report
February 2007 Sacramento Real Estate Market
January 2007 Home Sale Report For Sacramento Real Estate
What Sold in Sacramento County in December
November Real Estate Market Stats For Sacramento County By City
Sacramento County Market Statistics For October 2006 By City
Sacramento County Statistics By City 10“19“06
Sacramento Real Estate Statistics For Five Years
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