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Friday, November 30, 2012

Sacramento County first installment of Property Taxes dues soon

Just a friendly reminder that the first installment of your property taxes are due soon, December 10th.  In fact, they are actually due November first but are not delinquent until the 10th of December.  The second installment is Due February 1st but not delinquent until April 10th.  The trick in real estate school to remember that is NDarn Fooling Around (November December February and April).

Taxes due soon for Sacramento County property owners


Sacramento County property owners are reminded that the first installment of theirproperty tax bill is due Dec. 10.
The secured annual property tax bill is mailed only once each year, by Nov. 1, and can be paid in two installments. The last day to pay the first and second installments without penalty is Dec. 10 and April 10, respectively.
Supplemental, additional, escaped or corrected assessment bills may be issued in addition to the annual tax bill.
Property owners who recently purchased the property for a lesser value, or who are disputing theassessed value with the Assessor's Office, must still pay the annual tax bill by the delinquent date to avoid the addition of penalties, according to a county news release.
Those who have not received their tax bill may print tax bill payment stubs, obtain tax amounts and due dates online at www.eproptax.saccounty.net. Additional information may be obtained by calling a 24-hour automated system at (916) 874-6622. Select Option 1. Tax specialists are available to assist callers during regular business hours, 9 a.m. to 4 p.m. Monday through Friday. © Copyright The Sacramento Bee. All rights reserved.
clear skies,
Doug Reynolds

Thursday, November 29, 2012

Last chance to appeal property taxes...

As i mentioned a few weeks ago, the last day to appear your properties assessed value for taxes is 11/30/2012 for this year.  I was successful this year in getting one of my properties lowered by $50,000 to save me a little bit of money.  In the future, it's always best to go to the assessor's site in September, look up the value and get an appeal in early if the number is way off the true value.  here's an article from the SacBee:
Appeal your property taxes Sacramento Real Estate Doug Reynolds www.sellwithdoug

Fewer tax appeals expected at Sacramento County assessor's office


The county received almost 12,000 appeals when the market soured in 2009. It was the highest number of appeals in at least 14 years.
Last year, that figure dropped to 6,700, and based on the number of appeals received as of early this week, the total will likely be even lower this year.
The deadline to file an appeal is Nov. 30.
The county sent notices to some people saying the deadline is Nov. 30, 2013, but tried to fix the mistake by resending notices with the correct date.
The deadline for the first payment on property taxes is Dec. 10, even if an appeal is filed.
The office of the assessor sets the value of property for tax purposes. A house that is valued too high can end up costing a property owner hundreds of dollars in additional taxes each year.
In addition to the improving market, the decline in appeals is also due to the Assessor's Office, on its own initiative, lowering the values of more than 200,000 properties, said Shawn Echols, chief appraiser for the county. The office identified areas of the county where sales prices were significantly lower than assessed values for similar properties.
Such reductions are required under Proposition 8. Assessments are also governed by Proposition 13,which limits increases in value to 2 percent annually unless a house is sold.
Echols recommends that property owners ask the Assessor's Office to review an assessment before filing an appeal.
A review can save property owners a $30 filing fee and the office will go through the same process to review the assessment as it would with an appeal.
However, property owners might not get a chance to get a review before appeals are due this year.
If the owner is not satisfied with the office's review, he or she can ask for a determination of the Assessment Appeals Board. Appeals can take up to two years to complete.
Walter Andrews asked for a review recently after he had done some checking on the sale of homes in his Folsom subdivision.
His home was given an assessed value of $335,000. Because his subdivision is made up of a just few housing models, it was easy to compare the value of his home to others.
He found two homes that are the same model as his and had sold around the time of his assessment for $265,000 and $260,000.
Andrews presented the sales information to the Assessor's Office, which found a third comparable sale, and agreed to lower his assessment to $265,000, chief appraiser Echols said.
All reviews and appeals are based on comparable properties, he said. Property owners need to find sales of similar sized properties made around the time of the assessment.
Andrews, a retired Aerojet program director, praised the work of the Assessor's Office, calling officials there helpful, professional and efficient.
However, he said he still wonders about the methods of assessment. He said he has found great variation in values among the 35 homes in his subdivision just like his.
The values range from $221,000 to $341,000, he said.
Echols said his office is extremely thorough and proactive when it comes to accurate assessments. He said the most common reason for an inaccurate assessment is the office doesn't have the right information about a property – such as a house being listed as having four bedrooms instead of three.
The State Board of Equalization checks county offices periodically to make sure assessments are done correctly. The board's last review of the Sacramento County office was in August 2010 and found that "most properties and property types are assessed correctly."© Copyright The Sacramento Bee. All rights reserved.
clear skies,
Doug Reynolds

Wednesday, November 28, 2012

2012 Sacramento Real Estate = Cash, Cash, Cash!!!

If you've been following my blog and YouTube Videos at all this year then you know sacramento real estate is all about: low inventory, high buyer demand, multiple offers and prices getting bid up.  The reason??  Cash buyers/investors.  They are everywhere and the buyers that need a loan to purchase their home are having a very difficult time competing with the cash buyers.  Here's a Sac Bee article about the subject:
Sacramento Real Estate cash buyers - Doug Reynolds - www.SellWithDoug

Sacramento cash-only home sales hit 10-year high


Roughly 37 percent of Sacramento County homes bought last month were purchased with cash and no loan, the highest rate in at least a decade, according to new data from the Sacramento Association of Realtors.
The figures represent another indication that investor activity in the Sacramento real estate market has reached a fever pitch. Most, but not all, homes bought with cash go to investors who don't plan to live in them.
Hundreds of homes recently bought with cash were purchased by Blackstone, the international investment fund, as the Bee reported Sunday.
Investors have focused most of their attention on low- to mid-income neighborhoods where rents remain high but prices remain low.
They've cleared a glut of vacant, bank-owned homes from many neighborhoods and helped drive home values higher. They've also outbid scores of would-be homeowners who want to live where they buy, and played a role in the ongoing shift of tens of thousands of local residents from owner- to renter-occupied homes.
This chart shows the percentage of homes purchased with cash in Sacramento County and West Sacramento during October of each of the last 10 years.

Read more here: http://www.sacbee.com/2012/11/26/5011896/sacramento-cash-home-purchases.html#storylink=cpy
clear skies,
Doug Reynolds

Tuesday, November 27, 2012

Just Sold-2151 Sherington Way,Sacramento Ca 95835-www.SellWithDoug.com

Just Sold - 2151 Sherington Way, Sacramento Ca 95835 - Doug Reynolds Real Estate - www.SellWithDoug.com
Just SOLD!!!! 11/21/2012 in North Natomas! My sellers did an awesome job of staging the home and I marketed it aggressively. We ended up with 25 offers in one week! Listed at $209,900 and sold for $232,000.  Here's the virtual tour: Virtual Tour.

And property description:Outstanding 4 Bed,2 bath Natomas Park home w/ an open & naturally bright floor plan. Remodeled Kitchen w/ granite counter tops. Master bedroom has a walk-in closet. Indoor laundry room. Backyard features a covered patio w/ ceiling fan for a relaxing outdoor living space to be enjoyed all year. Energy efficient home has dual pane windows & many ceiling fans. Walk to the clubhouse for: pools,gym,lounge,fitness classes, kid zone & more. Also walk to tennis/basketball & nearby dog park. Equity Sale.

clear skies,
Doug Reynolds

Monday, November 26, 2012

Investment firm starts buying hundreds of Homes in Sacramento area

Here's an interesting article that appeared on the front page the Sac Bee, Sunday 11/25/12.  As i've been sharing on this blog and in my YouTube market update videos, the inventory in sacramento is extremely low, the buyer competition is very high and cash buyers are making up 1/3 of the market right now.  This article talks about a huge company that is purchasing homes in Sacramento at lightning speed.  It's almost scary how many properties this company has purchased in such a short period of time.  I recently represented a seller of one of the homes they purchased with cash in a 15 day escrow.  In fact, i have received an offer from these buyers on every single one of my listings since August.  It's buyers like this that are giving the first time buyers a difficult time of getting an accepted offer.  Financed offers have an extremely hard time competing with cash buyers that can close quickly. Give the article a read and let me know what you think.  Is this good or bad for the Sacramento market??  Why??

Big investment firm buys hundreds of houses in Sacramento area

Cash buyer investment company buying up Sacramento homes - Doug Reynolds Real Estate - www.SellWithDoug.com
Published: Sunday, Nov. 25, 2012 - 12:00 am | Page 1A
Last Modified: Sunday, Nov. 25, 2012 - 3:05 pm
An investment firm that owns the Waldorf Astoria hotel and the Weather Channel has bought more than 500 houses in Sacramento in the past few months, betting upward of $60 million that home prices will rise.
Blackstone, a New York-based group with billions of dollars in investments and offices from London to Tokyo, has been snapping up low-priced homes across the region, from Elk Grove to Citrus Heights,at a rate of about 40 a week.
It marks the first time a major investment firm has bought in Sacramento on such a scale – a direct result of the thousands of houses left vacant by foreclosures in recent years and offered at fire-sale prices.
"Prior to the current housing cycle, it was essentially unheard of" for majorinvestment funds to buy single-family homes, said Stuart Gabriel, director of the Ziman Center for Real Estate at UCLA. "The exodus from home ownership and the dislocation of homeowners has been unprecedented."
Experts said the bulk purchase of single-family homes by Blackstone and other big investment firms could have a significant effect on Sacramento neighborhoods, pro and con.
The purchases may boost prices in the short term by clearing out distressed properties and create needed rental housing. But they could also alter neighborhoods once populated by owners rather than renters, and make it more difficult for first-time buyers to compete in today's market.
Whether the entry of such large players is positive or negative depends in large part on how well Blackstone treats its tenants and maintains its piece of suburbia.
"The jury is out in this particular respect," Gabriel said. "There's a lot of asset management involved here. It could be more challenging than they expect."
This year, across the United States, a number of big investment firms have been active in areas hit hard by the housing collapse. Blackstone, one of the largest, says it will spend about $1.5 billion to buy 10,000 homes nationwide with the idea of renting them until prices increase enough to sell.
The firm calls itself the world's largest real estate private equity firm, whose $54 billion in assets includes shopping centers, hotels and office complexes.
But fixing faucets and collecting rent on single-family homes is a new strategy for Blackstone, which owns hotel giant Hilton Worldwide, has a major stake in T-Mobile parent Deutsche Telekom, and frequently partners with Mitt Romney's old firm, Bain Capital.
Blackstone has embraced the plan with gusto.
"It's a long-term investment for us," said Philippa Brown, spokeswoman for Blackstone's new housing division Invitation Homes.
Starting in May, the firm bought about 900 homes in Riverside and San Bernardino counties, Southern California's Inland Empire, which saw a boom-and-bust cycle last decade similar to Sacramento's.

Big player, small prices

Blackstone arrived in Sacramento in August, opening a Roseville office for its purchasing partnership, which operates under the name THR California and includes Invitation Homes.

The company wasted little time in becoming the largest purchasing force in the Sacramento foreclosure market, spending more than $60 million, according to a Bee analysis of county records.
Using local real estate agents, brokers and former house flippers, the company went from owning no homes here in August to owning 250 by mid-October.
House flippers who had to compete against Blackstone's buyers in auctions on courthouse steps began to grouse. They were regularly being outbid.
THR has paid, on average, a roughly 20 percent premium for homes, according to a Bee review of data from Zillow.com. In one case, THR purchased a 1,000-square-foot home in Meadowview for $175,000, or roughly 80 percent more than Zillow estimates the home is worth.
"They're betting on appreciation," said Eric Peterson, managing director of Praxis Capital, a house-flipping and property management firm in midtown Sacramento. Blackstone's attitude, Peterson said, is "'I don't really care what I pay today, because I think it's going to be double that five years from now. Ten grand's not going to affect my return that much.'
"We don't necessarily disagree with their thesis, but our appetite for risk is much lower than theirs," Peterson said.
As of last week, tax records showed THR California owned 510 houses in Sacramento County. The firm added about 40 properties a week during the last three months – one in every 10 houses sold in Sacramento County in that period.
More recently, Blackstone has sped up the pace. During the first three weeks of November, the Sacramento County recorder's office showed THR bought 145 properties, almost 50 per week.
THR California also bought 22 homes in Yolo County, 21 in Placer County and one in El Dorado County during the past three months, according to official records.
Most of the houses THR has acquired are relatively small, between 1,000 square feet and 1,800 square feet, and cost from $75,000 to $200,000. They are located mainly in distressed areas – such as North Highlands, Rancho Cordova and Galt – where sales prices have plummeted but rents remain relatively high, creating quick cash-flow opportunities.
In South and North Natomas, the company has purchased about 50 homes. The Bee visited a dozen last week. Some were dilapidated, with paint peeling and dead grass in the yard. Some were being fixed up by contractors with new carpet and sod. Others were neat and trim, with fresh paintwork and appliances, ready for new tenants.
Only one had a tenant in residence.
At his house on Regatta Drive in the city's Northgate neighborhood, John Coaxum, 50, gripped two eviction notices he had received from THR California.
Coaxum, whose rent is subsidized by Section 8, said he had lived in the house for 14 years and done much of the landscaping himself. His landlords used to be a local couple, but they lost the house to foreclosure.
When THR bought it from the bank, the company wanted more money, which he didn't have, he said. Coaxum said he called the company's number in Roseville and left messages but had not heard back.
Now he was facing the prospect of being tossed out.
"I'm not scared, I'm terrified," Coaxum said. "I raised all my kids here. I love my neighborhood. I have no delinquency. I don't know what's going down."
THR California has not yet filed any "unlawful detainer" lawsuits in Sacramento Superior Court to force the eviction of tenants. But in Riverside and San Bernardino counties, where the company has been active a few months longer, THR California has filed more than 125 such lawsuits, court records show.

Tenants and toilets

Dealing with tenants in single-family homes is sure to pose challenges, even for a multi-billion-dollar behemoth.

It will be difficult to rehabilitate 500 houses in short order, Peterson said, and keeping them up won't be easy, either. Praxis manages 80 rental homes, and the coordinator's phone rings off the hook with complaints of leaking roofs and broken toilets, he said.
Profit margins that look great on paper can end up being offset by tenant and maintenance headaches.
"It's a lot to handle," he said.
That's why Blackstone's Invitation Homes has contracted with Riverstone Residential Group, one of the nation's largest managers of apartment complexes. The two companies now share an address in Dallas.
"We want our customers to be happy," said Invitation's Brown. "Those are their homes."
Brown, who just began her job two weeks ago with the startup company, said she could not answer questions about the Sacramento market or individual tenants. She referred questions about property management to Riverstone. Riverstone, in turn, referred all questions back to Brown.
Ryan Lundquist, a local property appraiser, said that how the properties are managed remains a crucial question. By purchasing en masse, Blackstone is helping boost neighborhood property values, but increasing the number of rentals is potentially destabilizing, Lundquist said.
Whether the properties are kept up and rented to good tenants will affect values of neighboring homes, he said.
In Elk Grove, where Blackstone has bought about 40 houses, newly elected Mayor Gary Davis said he shares those concerns. He also worries about a future hit on home prices if Blackstone decides to sell its holdings all at once.
And he said the company's spending spree could squeeze out local residents who are trying to buy homes at today's low prices and interest rates.
"We have residents who are finally able to buy their first home or get back into a home after renting for a while," Davis said.
"When they have to compete with national investment companies," he said, "it makes it hard for residents to get a foot in the door and get their house."
Citrus Heights Mayor Jeff Slowey had a different take.
Blackstone's purchase of about 60 homes in Citrus Heights and surrounding communities is a good sign for local homeowners, he said. By investing, Slowey said, Blackstone is saying "they think it's a good market, and it's going to turn around." © Copyright The Sacramento Bee. 
clear skies,
Doug Reynolds

Tuesday, November 20, 2012

Real Estate Q&A: Short Sales, Taxes and Preparing in Advance

Sacramento Short Sale - Doug Reynolds Real Estate - www.BHGshortsale.com

By Gary M. Singer
RISMEDIA, Monday, November 12, 2012— (MCT)--QUESTION: I have decided to sell my home through a short sale. I have heard that the deadline for the tax waiver is the end of the year. After that, you have to pay taxes on any debt that the lender forgives. I don’t want to owe money to the government. Now I’m unsure whether to go through with the short sale.

ANSWER: The Mortgage Forgiveness Debt Relief Act of 2007 does expire at the end of this year, and industry groups and observers are concerned about the effect on homeowners and the real estate market in general. Most pundits, including me, think the law will be extended at some point. Still, this isn’t something you can count on.

As it is now, the amount the lender forgives on most primary residences is not taxable. No extension would make short sales less attractive next year and beyond because sellers would have to pay taxes due to the forgiven debt. This could result in tax hits of a few thousand dollars or considerably more.

Despite the potential tax liability, a short sale may still be the best choice — particularly if you owe much more than the house is worth, you’re getting divorced or you have to move quickly for a new job. Consult an accountant and see about your specific situation. Despite its reputation, the Internal Revenue Service is often willing to work with taxpayers.

Gary M. Singer is a Florida attorney and board-certified as an expert in real estate law by the Florida Bar. He is the chairperson of the Real Estate Section of the Broward County Bar Association and is an adjunct professor for the Nova Southeastern University Paralegal Studies program. Send him questions online at http://sunsent.nl/mR20t7 or follow him on Twitter @GarySingerLaw.

clear skies,
Doug Reynolds

Monday, November 19, 2012

Sacramento Real Estate November - December 2012 video Market Update

Doug Reynolds, a Sacramento Area Realtor, discusses the latest market statistics.  This month, the median sale price jumped up to $189,000.  September is the only month this year that saw a decline.  The median price is up 18% since the beginning of the year.  Low inventory, high buyer demand and low interest rates continue to drive the market.  If you are looking for a great Realtor to help you with your real estate needs in the Sacramento Area, call or email Doug Reynolds.

clear skies,
Doug Reynolds

Home 'flippers' grab an increasing share of Sacramento housing market

House flipping in Sacramento real estate - Doug Reynolds Real Estate - www.SellWithDoug.com
Published: Saturday, Oct. 27, 2012 

Homebuyers in today's market are likely to encounter a lot of fresh paint and spruced-up bathrooms.
That's because flipped houses, renovated and quickly resold for profit, make up a larger share of the Sacramento region's housing market than at any time in the past decade, including the height of the housing boom.
About one in 12 homes sold in Sacramento County last month was flipped, meaning it was bought and resold within a six-month period, according to real estate information service DataQuick.
"Flipping was up significantly from a year ago," said DataQuick analyst Andrew LePage.
In Sacramento County, flipped houses accounted for 8.1 percent of sales in September, up from 4.4 percent in September 2011, DataQuick said. In the Sacramento region – including El Dorado, Placer, Sacramento and Yolo counties – the rate nearly doubled from 3.3 percent in September 2011 to 6.5 percent in September 2012.
That's the highest percentage of the market since at least January 2003, when DataQuick started keeping track, and higher even than in 2004 and 2005, when the fast-expanding bubble made flipping the sport of speculators big and small.
Back then, a buyer could purchase a house on loose credit and resell it a short time later. With prices rising from week to week, there was easy money to be made, at least until the housing market came crashing down.
That put most casual flippers out of business, but the practice didn't die away. Professional flippers remained active during the bust, and lately, as the housing market has shown signs of recovery, they've picked up their pace.
RealtyTrac, an information service based in Irvine, says flipping rose by 43 percent statewide in the first six months of 2012 compared with the first six months of 2011. Of the approximately 100,000 homes flipped nationwide, more than a quarter, or about 26,000, were in California.
In the Sacramento region, 25 percent more houses were flipped in the first half of this year than in the first half of last year. More than 3,000 homes were bought and resold from January to June of 2012, RealtyTrac said, making Sacramento the seventh busiest flipping market in the nation.
Compared to the heady days of the boom, today's flippers are a more professional lot, said Daren Blomquist, RealtyTrac vice president.
"I do think we're dealing with a different breed of flipper in this market," he said.
The biggest hurdle to fly-by-night flippers, he said, is that the process requires a lot of cash.
"You have to pay cash at auction," Blomquist said, and need cash on hand for the renovation.
Tony Yuke renovates two or three dozen homes a year with backing from investors.
He heads to the steps of the Sacramento County courthouse on many mornings to bid on foreclosures in places like Elk Grove and east Sacramento. The houses tend to be dated, and Yuke will put in granite counters and stainless-steel appliances, or replace shake roofs with composite shingles.
He tries to fix up the properties and resell them within 90 days of closing. Investors are looking for a 10 percent to 20 percent return on their money, he said.
That's a substantial short-term profit. But Yuke said the profit is high because the risks are, too. Homes can't be inspected before auction, and major problems such as termite damage aren't visible to the naked eye.
"That eats up profit margin very fast," he said.
Yuke insisted the benefits of flipping extend beyond quick profits for investors.
He said he's making fixed-up houses available to first-time buyers. At a time of tight inventory and multiple all-cash offers, the houses would otherwise be snapped up by landlords and become rentals, he said.
Flipped houses, renovated and professionally staged, often fetch top dollar and raise the values of homes around them, Yuke said.
"We're changing neighborhoods," he said.
Real estate agents said some buyers are annoyed with having to pay premium prices for homes that have little more than new paint and carpet.
What it often comes down to is how good a job the flipper did, experts said.
Ken Dyer, a contractor who renovates high-end homes, said flippers span a broad range.
There are quick flippers who put "lipstick" on homes with paint and other cosmetic touches but don't add much real value, he said.
There are mid-tier flippers who repair structural damage, upgrade kitchens and baths and make other substantial improvements.
Then there is the upper tier – flippers like Dyer – who buy dated houses and transform them into showpieces in the city's most expensive neighborhoods.
On Wednesday, he worked his cellphone, talking to investors to put together $400,000 cash for a home he was trying to buy near McKinley Park.
He also oversaw crews of subcontractors – painters, plumbers and electricians – who were renovating million-dollar homes in the Fabulous 40s and on an exclusive street in east Sacramento.
In the Fab 40s, his workers were rebuilding a one-story brick house at 41st and M streets. They had expanded the house from two to three bedrooms and added a bath. They had knocked out a wall, opening the kitchen to a sunroom and adjacent patio. And they had redone all the walkways and landscaping.
Dyer said he and his investors paid about $525,000 cash for the house and put nearly $250,000 into it. A woman moving from Carmel had already bought the house for close to $900,000, he said.
Dyer said his goal is to give older homes the spaces and amenities of modern houses without sacrificing their period charm.
"I'm a purist," Dyer said. "When I'm done I don't want anyone to know anything's been done to the house."
clear skies,
Doug Reynolds

Saturday, November 17, 2012

Foreclosure trouble declines in Sacramento region

Sacramento Foreclosures are down - Doug Reynols Real Estate - www.SellWithDoug.com

Published: Oct. 26, 2012 
The foreclosure crisis continues to ease in the Sacramento region. In August, lenders foreclosed on 2.23 percent of mortgages, market tracker CoreLogic reports. That's down from 2.85 percent in August 2011.
Sacramento's foreclosure rate – once among the highest in the nation – is now below the national rate of 3.35 percent.

This is also slowly starting to happen across the state of California and across the country.  It appears that the worst for the real estate market is in the rear view mirror.  There will still be bumps and bruises along the way but more and more reports are showing a slow improvement in all aspects of residential real estate.

clear skies,
Doug Reynolds

Thursday, November 15, 2012

Home price rises are forecast for 2013 in Sacramento

Real Estate Prices set to rise in 2013 - Doug Reynolds Real Estate - Sacramento, Ca - www.SellWithDoug

By Hudson SangreePublished: Oct. 24, 2012
Home prices in the Sacramento area are likely to rise significantly in the coming year and will outpace the national average, online real estate tracker Zillow predicted Tuesday.
The Seattle-based firm projected that home values in the region will increase by an average of 5.6 percent through the third quarter of 2013. Home prices will rise 1.7 percent nationally during the same period, the firm said.
"Six percent is on the healthy side," said Zillow senior economist Svenja Gudell. "It's a steady clip of appreciation."
Like other market-watchers, Zillow says Sacramento area home prices hit bottom in the first few months of this year after a five-year free fall.
Tight inventory, including fewer foreclosures for sale, combined with strong demand from investors for rental homes has spurred recent increases, Gudell said.
At the same time, low prices and historically low interest rates have been drawing more would-be homeowners to the market. Home values are about half what they were at the peak of the boom but starting to trend upward, she said.
"Prices have fallen so far," Gudell said. "As soon as they start to pick up, it's almost a mentality of no one wants to miss the boat."
The median home value in the region rose 3.4 percent to $210,900 in the third quarter of 2012 compared with the third quarter of 2011, Zillow said. Prices were up 2.9 percent from the second to the third quarter of this year.
Some cities did better than others. Elk Grove's median home price rose 6.4 percent in the third quarter of 2012 compared to the same period a year before, Zillow reported. Roseville's jumped by 6.2 percent year-over-year, it said.
In the city of Sacramento, the median home price rose by 3.7 percent from the third quarter of 2011 to the third quarter of 2012, Zillow said.
Sacramento area home values are now back to March 2002 levels, the company reported.
The area's median home price is about 50 percent of its peak value of $422,000 in the fourth quarter of 2005, Zillow reported. The last time home values rose as fast as they have recently was in March 2006, when the median price rose 3.4 percent year-over-year, Zillow said.
clear skies,
Doug Reynolds

Wednesday, November 14, 2012

Sierra Oaks, Wilhaggin, Del Dayo and Shelfield - Sales Data for October 2012

There were 19 homes sold in Sierra Oaks, Wilhaggin, Del Dayo and Shelfield in the month of October, 2012. This is the an increase from the 12 sold in September, 2012.  Here are the addresses and specific details:

Currently there are: 36 Active listings, 3 Active short sale listings, 5 Short Sales waiting for lender approval and 19 Pending Sales

If you would like more information (pictures, listing history, what type of sales they were, etc.) feel free to call or email and I’d be happy to provide that for you.  Call or email me if you are looking to buy or sell in the Sierra Oaks, Wilhaggin, Del Dayo and Shelfield areas.

clear skies,
Doug Reynolds