Real Estate Market
Elk Grove CA Real Estate
February 17th, 2010 categories: Elk Grove, Real Estate Market
Have you been wondering about all the bank owned foreclosed homes and if there are any? Well, here is a graph showing the inventory for Elk Grove, CA of foreclosed bank owned homes that were for sale from January 2009 to January 2010. There were 240 REO homes for sale in Elk Grove in January 2009 which gave us at that time 1.5 months worth of inventory on the real estate market.
As of last month, the bank owned REO homes for sale in Elk Grove CA were 84 properties for sale which gave Elk Grove 1.3 months worth of inventory.
These graphs are for all of Elk Grove, CA
95624
95757
95759
Not let’s compare Short Sale in Elk Grove for all three zip codes from January 2009 through January 2010
As you can see March 2009 there was 390 Short Sale homes for sale with 11.5 months of inventory on the market.
January 2010 we slipped to 223 Short Sale homes for sale in Elk Grove bringing the inventory down to 4.6 months worth of inventory
And now we will take a look at single family homes for sale in Elk Grove, CA that were NOT Short Sales and NOT bank owned foreclosed homes for sale. What those of us in the business refer to as a traditional sale.
The traditional single family homes for sale in January 2009 was 370 for Elk Grove, CA and last month, January 2010 there were 119 homes for sale.
As you can see there are fewer homes for sale in Elk Grove from a 14.8 month inventory to 2.1 months of inventory.
However, the records show 25 homes sold in January 2009 compared to 57 homes sold in January 2010. July of 2009 had the record of sold homes which was 74 homes.
According to the tax records there are 1,000 Elk Grove homeowners who are in Preforeclosure at this time. And 1,000 bank owned REO foreclosed homes.
If you would like to view homes for sale, look for foreclosed homes or short sale homes in Elk Grove and be sure to check out the newest Elk Grove CA homes for sale. If you need any help setting up your home search and want the latest property listings in your email just contact your Realtor, Gena and she will set it up for you.
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A Look At Real Estate in 2010
January 4th, 2010 categories: Real Estate Market
Happy 2010! Everyone is predicting what Real Estate will be like for 2010.
Let’s start off with the fact that no one really knows what 2010 will look like, otherwise, they would be making millions. Some of us may be right on with some of our ideas and others will be way off.
What we can do is predict based on the previous year and years what we think might happen. Any prediction here is based on the Sacramento real estate market only as I have not studied the entire nation.
Since 2009 was a year of foreclosed bank owned homes and Short Sales it is likely we will see more of the same. With one exception, I think. In my opinion, the banks will not be showering the market with their inventory of foreclosed properties. It has taken awhile, 3 years to be exact, but the banks have learned a little something about real estate.
Supply and Demand!
The banks are as stupid as a fox…they aren’t about to let the flood gates open and release all of the “shadow” inventory. In 2010, I believe the banks will slowly ease their “shadow inventory” into the real estate market keeping those multiple offers coming and prices eking up. It will depend how educated the home buyers are and what they are willing to pay as to where prices head. REMEMBER…
Home buyers drive the price
Here’s a little graph of the Sacramento foreclosed bank owned homes since 2007. It’s not that there were fewer homeowners who lost their homes but that the banks got smarter.
This is the Sacramento foreclosed bank owned homes for sale, sold and in Pending Sale since 2007 through 2009. Think the banks learned something? Think the banks will hit the market with their “shadow inventory”? Think again!
Here’s a kicker, the Federal Reserve is to stop the $1.25 trillion program by the end of March. If this does indeed happen, mortgage interest rates will rise which will definitely effect the home buyer. Some home buyers will be unable to buy. Do I think the government wants to see this happen? NOPE.
Just like the home buyer tax credit extension, my predictions is interest rates will not rise for long. It would be like the government cutting off their nose.
You ask about the home buyer tax credit being extended yet again? Since 51% of the homes sold nationwide did so for the home buyer tax credit, it would be insane for Congress not to pass this again as long as the government wants to manipulate the economy.
Tighter FHA (Federal Housing Administration) rulings about downpayments…hmmm In a weakened state of the economy and job loss, it doesn’t make a lot of sense to raise the down payment from 3.5% to 5% for FHA home buyers. CNN Money asks if the home buyer’s cost should rise due to FHA reserve funds slipping.
Well everyone has their take on the economy, real estate and the stock market. There are the doom sayers and those who are eloquently optimistic. Some even have another stock market crash headed our way and real estate not having reached the bottom yet.
No one really knows and by the time we all know for sure, it will have already happened.
Commercial will continue to bleed and I believe we will see more stripmalls vacancies as the year progresses. It’s hard for new businesses to get started with banks not loaning money but hopefully, we will see a change in the lending to new businesses.
Due to the government’s intervention, the pain and the blood will continue…it’s been a very slow death but the patient is rallying. Real Estate is making a come back!
Happy 2010, chose wisely, don’t over pay, do your due diligence and treat your home with respect and dignity and you’ll win in the end that is my HOPE for 2010 .
| Discussion: 3 Comments »
Sacramento Home Buyers Are Sick of It!
November 30th, 2009 categories: Real Estate Market, Sacramento Real Estate Videos
Well, the home buyers are not the only ones that are sick of it. We as reputable real estate agents are also sick of it. On one hand you wonder if the listing agent is incompetent and on the other hand you wonder if there is a game being played out.
Just last week, long time home buyers I have been working with called and said they wanted to see a house I had sent them on their email. After checking the MLS, the instructions were that the house was vacant and there was a lockbox.
Low and behold, it was in a gated community with no prior warning, no instructions with a gate code and once we all managed to get into the complex, there was no lockbox. The only thing true to this scenario was that it was indeed vacant. And not only vacant, but a door on the side left unlocked!
Wow, I would want to list my house with that agent! Even though it is a Short Sale, please let’s give the homeowner some respect!!
Can’t resist sharing this YouTube video that a friend of mine, Kris Berg who is a Realtor ® in San Diego published…I think you’ll find the sick humor in it, I know I did.
If you like what you read here on Sacramento Real Estate Voice simply click and subscribe to get the latest articles sent to your email.
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Yolo County Real Estate Year End 2009 Market Report
October 29th, 2009 categories: Real Estate Market, Yolo RE Stats
To the right is a chart showing the homes sold in Yolo County each month from January through September 2009.
Each month you can view the real estate stats for homes for sale, homes in pending sale and homes sold by simply clicking on Neighborhood/County Market Statistics.
This chart includes all of the cities and neighborhood in Yolo County, they are as follows:
Capay Valley, Clarksburg, Davis, Dunnigan, Knights Landing/Robbins, Madison/Esparto, Springlake, West Sacramento, Wild Wings, Winters, Woodland, Yolo and Zamora.
In September 146 single family homes sold bring the average sales price for a home in Yolo County to $278,949
August 2009 152 homes sold bring the average home price to $287,310
July was a hot month for Yolo County with 175 homes selling with a top sales price of $329,314.
Be sure to check back here for October’s home sales and see if the trend continues to fall.
If you like what you read here on Sacramento Real Estate Voice simply click and subscribe 
to get the latest articles sent to your email.
. As a Certified Distressed Property Expert, I am here to help you avoid foreclosure. Let’s talk and see if you qualify for a Short Sale. Your Short Sale agent.| Discussion: Comments »
El Dorado County Real Estate Report from Jan-Sept. 2009
October 28th, 2009 categories: Real Estate Market
El Dorado County single family homes sold year to date appear in the chart to the right.
For a breakdown by city you can always see each month’s report by city just by clicking on Neighborhood/County Market Statistics.
The cities and neighborhoods included in El Dorado County are as follows:
Al Tahoe/Bjou, American River Canyon, Cameron Park, Camino/Cedar Grove, Christmas Valley, Coloma/Lotus, Cool/Pilot Hill, Diamond Springs, El Dorado, El Dorado Hills, Gardner Mountain, Georgetown/Garden Valley/Greenwood, Greenstone/Gold Hill, Heavenly Valley, Highlands Woods, Latrobe, Montgomery Estates, Mosquito/Swansboro, Pleasant Valley/Placerville, Pollock Pines, Rescue/Luman, Rubicon, Shingle Springs, Sierra Tract, Somerset/Mt. Aukum, State Line, Tahoe Keys/Tahoe Island, Tahoe Paradise and Truckee River.
September 2009 brought 163 single family homes sold with the average price of a house in El Dorado County falling to $330,568.
August 2009 140 homes sold with the average sales price being $ 344,836
July 2009 there were 192 single family homes sold in El Dorado County for an average price of $357,339.
It would appear prices are falling in El Dorado County. Be sure to check back here for October 2009 home real estate reports.
If you like what you read here on Sacramento Real Estate Voice simply click and subscribe to get the latest articles sent to your email.
. As a Certified Distressed Property Expert, I am here to help you avoid foreclosure. Let’s talk and see if you qualify for a Short Sale. Your Short Sale agent.| Discussion: Comments »
Real Estate Report for Placer County Homes
October 27th, 2009 categories: Placer RE Stats, Real Estate Market
The chart to the left shows single family homes sold in Placer County from January through September 2009.
The neighborhoods included in this chart are:
Agate Bay homes, Alpine Meadows homes, Alpine Peaks homes, Applegate/Meadow Vista/Christian Valley homes, Auburn homes, Blue Canyon/Norden homes, Brockway homes, Cedar Flat homes, Colfax/Weimar homes, Dollar homes, Forest Hill homes, Granite Bay homes, Homewood homes, Kingswood homes, Lincoln homes, Newcastle homes, Northstar homes, Rocklin homes, Roseville homes, Squaw Valley homes, Sunnyside homes, Tahoe City homes and Tahoe Vista homes
In September 2009 Placer County had 390 single family homes sold. The average price of a home in Placer County for September is $330,010 which is down from August 2009 where the average sold price was $337,309 with 359 homes sold. July 2009 there were 432 homes sold with the average price being $345,185.
Is this a trend downward? Be sure to check next month for October home sales. In the meantime, feel free to check out your neighborhood real estate homes for sale, homes in pending sale and homes sold by clicking on Neighborhood/County Market Statistics
If you like what you read here on Sacramento Real Estate Voice simply click and subscribe to get the latest articles sent to your email.
. As a Certified Distressed Property Expert, I am here to help you avoid foreclosure. Let’s talk and see if you qualify for a Short Sale. Your Short Sale agent.| Discussion: Comments »
Sacramento Year To Date Real Estate Report for 2009
October 26th, 2009 categories: Real Estate Market, Sacramento RE Stats
Sacramento, CA
Have you been wondering how real estate is selling in the Sacramento area this year? Provided below is a graph showing the number of homes sold each month this year.
Sacramento County single family homes 
have in deed been selling. The chart shows residential single family homes sold from January through September 2009.
Each month I provide a breakdown of homes for sale, homes in pending sale and homes sold by simply clicking on Neighborhood/County Market Statistics which right under the Sacramento Real Estate Voice banner at the top. You can choose the year and the month you are most interested in seeing for your neighborhood or the city you plan to move or relocate to.
The cities and neighborhoods included in the above graph are:
- Antelope homes
- Arden/Arden Arcade homes
- Carmichael homes
- Citrus Heights homes
- College Greens homes
- Courtland homes
- Curtis Park homes
- East Sacramento homes
- Elk Grove homes
- Elverta homes
- Fair Oaks homes
- Folsom homes
- Galt homes
- Greenhaven homes
- Herald homes
- Hood homes
- Isleton homes
- Land Park homes
- McClellan homes
- Mather homes
- Natomas homes
- North Highlands homes
- Orangevale homes
- Rancho Cordova homes
- Represa homes
- Rio Linda homes
- Rio Vista homes
- Rosemont homes
- Ryde homes
- Rancho Murieta homes
- Sacramento/Downtown/Midtown homes
- South Sacramento homes
- Walnut Grove homes
- Wilton homes
Last month, September 2009 1,618 single family homes sold bring the average sales price for Sacramento County to $204,792 up just slightly from August where the average price for a house in Sacramento County was $204,460.
There was 7.8 months worth of inventory on the market in September compared to 10.1 months supply in April, the highest month of inventory so far this year.
As of October 25, 2009 there have been 1,038 homes sold this month in October with an average sold price of $209,207. It would appear that home prices are up but let’s see what those numbers look like next month when all the figures come in.
If you would like to see a break-down of each neighborhood home for sale, homes in pending sale and homes sold be sure to click on Neighborhood/County Market Statistics
If you like what you read here on Sacramento Real Estate Voice simply click and subscribe to get the latest articles sent to your email.
. As a Certified Distressed Property Expert, I am here to help you avoid foreclosure. Let’s talk and see if you qualify for a Short Sale. Your Sacramento Short Sale agent.| Discussion: Comments »
How Many Bank Owned Homes Are For Sale?
October 23rd, 2009 categories: Real Estate Market, Short Sale
Sacramento, CA
Have you been wondering if there are any bank owned homes for sale? And how any REO bank owned homes versus how many homes for sale are Short Sale and how many traditional home sales there are?
Take a drive with Gena Riede, of Riede Real Estate as she drives in Elk Grove and shares the market report for Oct. 22, 2009. Hearthe stats for single family bank owned homes for sale, short sale homes for sale and how many traditional sales there are for sale in Sacramento, Placer, El Dorado and Yolo Counties.
If you thought there were fewer bank owned homes for sale, you are correct. There are many more Short Sale homes for sale with many more to come.
As a Certified Short Sale Specialist helping homeowners who are having trouble paying their house payments, my goal is to help homeowners avoid foreclosure since a Short Sale will have less impact on their credit.
It is important if you are having trouble paying your mortgage payment to call and let’s see if you qualify for a Short Sale. It’s important to have a Short Sale Realtor who is certified in working with distressed properties to help you.
If you like what you read here on Sacramento Real Estate Voice simply click and subscribe to get the latest articles sent to your email.
. As a Certified Distressed Property Expert, I am here to help you avoid foreclosure. Let’s talk and see if you qualify for a Short Sale. Your Short Sale agent.| Discussion: Comments »
Sacramento Real Estate Trends for 2009-2010
September 14th, 2009 categories: Real Estate Market, Real Estate News
Seems there is a rumor that Real Estate is turning around in Sacramento. I keep hearing that from people I run into and it surprises me. That is not what I am finding. Home sales were down last month for a very good reason.
Most homes for sale are Short Sales and they take feverishly long to close. Foreclosures are down simply because of the bill passed to contact each and every homeowner having trouble paying their mortgage to try and work out a loan modification therefore the banks are not foreclosing on homes a fast as they previously were.
Have defaults on mortgages gone down? No. That’s why I don’t see a turn around in the Sacramento Real Estate trend…we still have a way to go, I’m afraid.
Six states accounted for 62% of the total foreclosure activity in August and yours truly, California ranked as one of the highest according to Realty Trac.
Sacramento Foreclosure Rankings for August – (these are just a few)
- 95823 had 319 foreclosures
- 95828 had 282 foreclosures
- 95757 had 279 foreclosures
- 95758 had 275 foreclosures
- 95624 had 258 foreclosures
- 95835 had 232 foreclosures
- 95648 had 215 foreclosures
- 95630 had 164 foreclosures
- 95820 had 163 foreclosures
- 95833 had 144 foreclosures
- 95747 had 137 foreclosures
- 95678 had 134 foreclosures
- 95608 had 115 foreclosures
- 95765 had 105 foreclosures
- 95677 had 84 foreclosures
- 95661 had 67 foreclosures
- 95746 had 53 foreclosures
Carmichael, CA had 532 foreclosed homes which sold for an average price of $195,081. One in every 514 homes received a foreclosure filing for August 2009. Click to view current Carmichael bank owned foreclosed homes for sale
Elk Grove, CA had 3,742 foreclosed home with the Average Sales price being $228, 616. One in every 254 homes received a foreclosure filing in August 2009. Click to view current Elk Grove bank owned foreclosed homes for sale
Folsom, CA has had 641 foreclosures with an average sales price of $284,546. One in every 250 homes received a foreclosure filing in August 2009. Click to view current Folsom bank owned homes for sale
Sacramento, CA had 13,399 foreclosed homes with $136,849 as the average foreclosure sales price. One in every 131,620 homes received a foreclosure filing in August 2009. Click to see current Sacramento bank owned homes for sale
Roseville, CA 1,769 foreclosed homes which sold at an average of $260,629. One in every 426 homes received a foreclosure filing in August 2009. Click to view current Roseville bank owned homes for sale.
Lincoln, CA has had 1,208 foreclosed homes with an average sale price of $279,779. One in every 35 homes received a foreclosure filing in August 2009. Click to view current Lincoln bank owned homes for sale
Rocklin, CA has had 735 foreclosed homes selling at an average price of $260,478. One in very 214 homes received foreclosure filing in August 2009. Click to view current Rocklin bank owned homes for sale
Are you interested in knowing what States are improving and which States are expected to have further decline in real estate value? Check out 10 Housing Market to Rebound Soon.
The top 10 cities with home prices expected to level off this year and start increasing next year are:
- Baton Rouge, LA
- Buffalo – Niagara Falls, NY
- Dallas – Plano – Irving, TX
- Fort Worth – Arlington, TX
- Houston – Sugar Land – Baytown, TX
- Little Rock – North Little Rock – Conway, ARK
- Omaha – Council Bluffs, NEB, Iowa
- Pittsburgh, PA
- San Antonio, TX
- Syracuse, NY
The largest 10 real estate markets were prices are expected to continue to decline through 2010 are:
- Fresno, CA
- Las Vegas – Paradise, NV
- Miami -Miami Beach – Kendall, FL
- Orlando – Kissimee, FL
- Phoenix – Mesa – Scottsdale, AZ
- Portland – Vancouver – Beaverton, OR, WA
- San Jose – Sunnyvale – Santa Clara, CA
- Stockton, CA
- Tacoma, WA
- Tucson, AZ
If you like what you read here on Sacramento Real Estate Voice simply click and subscribe to get the latest articles sent to your email.
.If you have a real estate question that you would like an answer to by Gena Riede, Sacramento Realtor ® specializing in helping home buyers and home sellers be sure to check out 
and read what other home buyers and home sellers have asked and feel free to ask your Real Estate question by email. Perhaps, your question will be part of the next article featured on Sacramento REAL Estate Voice
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Government Throws the Baby Out With the Bathwater
August 5th, 2009 categories: Real Estate Market, Real Estate News
Home Buyers need to know what is happening in Real Estate right now where the government has once again stepped in where they should not have tread. This effects EVERY home buyer and home seller so be sure and let your voice be heard.
HVCC (Home Valuation Code of Conduct) concerns appraisals. Washington Mutual, from what I have been told, pressured appraisers back in the day and were instrumental in getting appraisers to value property to the value the bank wanted, Fannie Mae and Freddie Mac thought they would come to the home buyer’s rescue with MORE rules after just one man from New York pressured for a change.
These are some of the pitfalls that have occurred due to the governments “HELP”:
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Raised appraisal costs for the home buyer
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Encouraged the use of inexperienced appraisers
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Developed unregulated, unlicensed middle man, “appraisal management companies,” AMC who now take 50% of what appraisers USE to make
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Delayed closings on properties
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Home Buyers losing out on purchasing property
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Out of area appraisers
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NO communication when, we ALL should know communication is KEY in undertanding
Yes, you as the home buyer are paying more money for an appraisal, since the government has designated a 3 rd party who now makes money to refer an appraiser to the property needing an appraisal.
No longer is there a relationship with a bank or mortgage broker with the appraiser. Now, it may be someone who just got in the business, someone who lives outside the area, a good appraiser or a not so good appraiser and in the meantime, the appraiser makes less money and really has no vested interest in doing a good job or not.
We are seeing appraisals come in that have no bearing to the comps in the area as well as appraisals taking much too long and many home buyers unable to purchase a house due to the appraisal.
No longer may the lender speak to the appraiser or know who they are much less appraisers calling both the listing and selling agent to help with any comps they know of in the area. If a mistake has been made on the appraisers part, too bad…another property goes south.
Government needs to stay out of real estate. They have made a mess. Enforce and prosecute those who are licensed and punish if you find they have encroached where they should not have tread but don’t throw out the baby with the bath water. This only makes for more problems which is evident today all over the country.
If you are a home buyer or thinking of being a home buyer, click to sign the petition that many Realtors ® and Mortgage Brokers are fighting on your behalf to stop this madness! Request for Permanent Reversal of HVCC Petition. Let’s get back the licensed experienced appraisers and stop the middle man who takes their money and forced the good appraisers out of business.
HVCC has directly impacted my home buyers and this ridiculous rule by the government needs to be stopped by one Attorney General from New York, Andrew Cuomo.
We need to be able to communicate with the appraiser and get back experienced licensed appraisers in order to sale real estate and close the deals. Be pro active and help stop the insanity and sign the HVCC petition.
Read The HVCC-Definition of the Problem-Top 10 List of Problems with the Home Valuation Code of Conduct.
If you like what you read here on Sacramento Real Estate Voice simply click and subscribe to get the latest articles sent to your email.
.If you have a real estate question that you would like an answer to by Gena Riede, Sacramento Realtor ® specializing in helping home buyers and home sellers as well as providing excellent service as a relocation agent. Be sure to check out and read what other home buyers and home sellers have asked and feel free to ask your Real Estate question by email. Perhaps, your question will be part of the next article featured on Sacramento REAL Estate Voice
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