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Tuesday, October 25, 2016

Sacramento Real Estate Market - Tabulation Tuesday SnapShot - 10/25/2016

I'm a stats geek and love analyzing the Sacramento Real Estate market numbers, so...

Every Tuesday i provide a quick snapshot of what's going on with the market.  Call/Email/Text/or leave a comment below if you have any questions or opinions...






ACTIVE INVENTORY

2,589   available homes on the market

2,599   Last week

2,646   Two weeks ago

2,660   Three weeks ago

2,718   Four Weeks ago

2,766   Five Weeks ago

2,794   Six Weeks ago

2,814   Seven Weeks ago


2,805   Eight Weeks ago


PENDING inventory

2,465   homes currently in escrow

2,517   Last week

2,521   Two weeks ago

2,487   Three weeks ago

2,635   Four Weeks ago

2,622   Five Weeks ago

2,606   Six Weeks ago

2,548   Seven Weeks ago

2,640   Eight Weeks ago


Median Price of homes sold for the Month

October 2016: so far this month - $320,000

September 2016 -   $318,500

August 2016 -         $324,000

July 2016  -             $322,000

June 2016 -             $329,000

May 2016 -              $319,000

April 2016  -             $310,000

March 2016  -          $307,000

February 2016  -     $299,000

January 2016  -       $284,950

December 2015 -    $297,000

November -             $290,885

October -                 $290,000

September 2015 -   $290,000

August  -                 $290,000

July -                       $292,000
June  -                     $295,000
May 2015 -              $290,000
April -                       $281,000
March -                    $281,250


Closings for the month

October 2016: so far this month - 1,031
September 2016 -        1,647
August 2016 -              1,799
July 2016 -                   1,622
June 2016 -                  1,815
May 2016 -                   1,612
April 2016 -                   1,554
March 2016  -               1,440
February 2016  -           1,019
January 2016  -             918
December 2015 -          1,573
November -                   1,204
October -                       1,520
September -                  1,601
August 2015 -               1,660

July  -                            1,738
June -                           1,783
May 2015 -                   1,458
April -                            1,607
March -                         1,376


 

CONNECT WITH ME VIA FACEBOOKYOUTUBE, AND FOLLOW MY BLOG.



clear skies,
Doug Reynolds
Realtor
916-494-8441
 

         

Monday, October 24, 2016

First Time Home Buyers are doing more than expected this year

Here's a short and interesting read posted by Zillow talking about First Time Home Buyers.  The article discusses how more FTHB are in the market and purchasing homes this year than expected.

Enjoy.

Doug Reynolds
www.RealEstateWithDoug.com



A surprisingly high number of first-timers now buying homes


WASHINGTON (AP) -- For years, the U.S. housing market looked bleak for young couples hoping to buy their first homes but struggling with high student debt, low pay and meager down-payment savings.
But a new survey by the real estate firm Zillow suggests that first-time buyers may be entering the market in greater numbers than industry watchers had assumed.
Over the past year, the survey found, nearly half of home sales have gone to first-timers. That's a much higher proportion than some other industry estimates had indicated. And it comes as a surprise in part because ownership rates for adults under 34 are at their lowest levels since the government began tracking the figure in 1994.
Zillow's survey results suggest that the trend is shifting, and that some of this year's growth in home sales has come from a wave of college-educated couples in their 30s, who are the most common first-time buyers.
They are people like Natasja Handy, a 32-year-old lawyer and new mother. She and her husband, a doctor, are about to close on their first home in the Northeast section of Washington, D.C. — a row house with about 1,900 square feet that cost $720,000.
The couple worked with brokers at Redfin and made a 5 percent down payment after having lost two bids on other homes.
"We waited a very long time to purchase our first house," Handy said. "We've always felt like we were giving someone else our money, instead of putting it into something we own."
In suburban Minneapolis, few first-time buyers have enough savings for a down payment, and many rely on gifts or loans from relatives, said Marcus Johannes, an agent with Edina Realty.
"Most of my people, they get funds from family," he said. "They get creative tapping 401(k)s."
If the pattern in Zillow's survey holds, it could raise hopes that today's vast generation of 18-to-34-year-old millennials will help support the housing market as more of them move into their 30s.
The 168-page report that Seattle-based Zillow released Tuesday also found that home ownership is increasingly the domain of the college-educated. And it reported that older Americans who are looking to downsize are paying premiums for smaller houses.
Here's a breakdown of Zillow's key findings:
— Forty-seven percent of purchases in the past year went to first-time buyers. Their median age was 33. By contrast, surveys from the National Association of Realtors have indicated that first-timers account for only about 32 percent of buyers.
The difference between the two surveys may stem from their methodologies. The NAR has used a mail-based survey for its annual figures. Zillow used an online survey that might have generated a greater response rate from younger buyers.
Zillow's findings might help explain a persistent shortage of homes for sale: Unlike move-up buyers, first-time purchasers don't have a home to list for sale, thereby depriving the market of supply.
Adam DeSanctis, an NAR spokesman, noted that his organization's own survey, due out later this month, will show a rising share of first-time buyers, though it will remain below the historical average of 39 percent that's prevailed since the organization began tracking this figure in 1982.
DeSanctis noted that government figures show home ownership among young adults remain at its lowest level in history, which is why his organization is skeptical that nearly half of sales go to first-time buyers.
— No college? Dwindling chance of homeownership
It's become harder to realize the dream of home ownership without a college degree. Sixty-two percent of buyers have at least a four-year college degree. Census figures show that just 33 percent of the U.S. adults graduated from college. The gap between the education levels of homebuyers and the broader U.S. population indicates that workers with only a high school degree are becoming less likely to own a home. In 1986, just 12 percent of homeowners were college graduates, according to government figures.
— Millennial home buyers are increasingly Hispanic
Out of the 74 million U.S. households that own their homes, a sizable majority — 77 percent — are white. But these demographics are changing fast. Only 66 percent of millennial homeowners are white. The big gains have come from Latinos, who make up 17 percent of millennial homeowners but just 9 percent of all homeowners.
Asians also make up a greater share of millennials. This means that as today's millennial generation ages, the housing market may look considerably more diverse than it does now.
— Older Americans aren't just downsizing; they're also upgrading.
The so-called "silent generation" — those ages 65 to 75— bought homes in the past year with a median size of just 1,800 square feet, about 220 square feet smaller than the homes they sold. But that smaller new home still cost more. These retirement-age buyers paid a median of $250,000, nearly $30,000 more than the home they sold. In some cases, the higher purchase price likely reflects the profits from the sale of their previous home, in other cases a desire by upscale buyers for luxury finishes and amenities.
— Starter homes are no longer popular.
When millennials buy, they're leapfrogging past the traditional, smaller starter home. This younger generation paid a median of $217,000 for a 1,800-square-foot house. That median is nearly identical to what older generations buy.
Across the United States, the typical home costs $222,000, has three bedrooms, 2½ baths and 1,900 square feet. For someone with children at home, that figure swells to 2,000 square feet and a median price of $234,000.

Wednesday, October 19, 2016

Sacramento Real Estate Video Market Update October - November 2016



Doug Reynolds, a Sacramento Area Realtor, provides a monthly update on the market statistics.

In September, the median price decreased to $318,500 compared to $324,000 in August.  More importantly,  the median is 8.7% higher than a year ago.

The available housing inventory is at 1.7 months. The inventory is slowly starting to creep up a bit as we head to the end of the  traditional “buying season” in Sacramento. A “normal”or “balanced market” is considered about 2—3 months.

Due to slightly increased inventory and traditional buyer slowdown at this time of year, the market is finding some balance. The market is still   leaning towards sellers but only for the homes that are priced right/show well/great marketing. The others are sitting and having price reductions. ‪#PriceSensitiveSellersMarket


Check out my website at www.RealEstateWithDoug.com and connect with me on all my social media.


Connect with Doug Reynolds Real Estate via FacebookYouTube, and Follow his Blog.


clear skies,

Doug Reynolds

Realtor

916-494-8441



         

Tuesday, October 18, 2016

Sacramento Real Estate Market update - October 2016

Sacramento
Real Estate Update



October 2016



ó In September, the median price decreased to $318,500 compared to $324,000 in August.
     More importantly,  the median is 8.7% higher than a year ago.

ó The available housing inventory is at 1.7 months. The inventory is slowly starting to creep up a bit as we head to the end of the  traditional “buying season” in Sacramento. A “normal”or “balanced market” is considered about 2—3 months.

ó Due to slightly increased inventory and traditional buyer slowdown at this time of year, the market is finding some balance. The market is still   leaning towards sellers but only for the homes that are priced right/show well/great marketing. The others are sitting and having price                 reductions. ‪#‎PriceSensitiveSellersMarket‬ 




CONNECT WITH DOUG REYNOLDS REAL ESTATE VIA FACEBOOKYOUTUBE, AND 
FOLLOW HIS BLOG.



CLEAR SKIES,

DOUG REYNOLDS

REALTOR

916-494-8441



         



Sacramento Real Estate Market - Tabulation Tuesday SnapShot - 10/18/2016

I'm a stats geek and love analyzing the Sacramento Real Estate market numbers, so...

Every Tuesday i provide a quick snapshot of what's going on with the market.  Call/Email/Text/or leave a comment below if you have any questions or opinions...






ACTIVE INVENTORY

2,599   available homes on the market

2,646   Last week

2,660   Two weeks ago

2,718   Three weeks ago

2,766   Four Weeks ago

2,794   Five Weeks ago


2,814   Six Weeks ago


2,805   Seven Weeks ago

2,809   Eight Weeks ago


PENDING inventory

2,517   homes currently in escrow

2,521   Last week

2,487   Two weeks ago

2,635   Three weeks ago

2,622   Four Weeks ago

2,606   Five Weeks ago

2,548   Six Weeks ago

2,640   Seven Weeks ago

2,663   Eight Weeks ago


Median Price of homes sold for the Month

October 2016: so far this month - $323,000

September 2016 -   $318,500

August 2016 -         $324,000

July 2016  -             $322,000

June 2016 -             $329,000

May 2016 -              $319,000

April 2016  -             $310,000

March 2016  -          $307,000

February 2016  -     $299,000

January 2016  -       $284,950

December 2015 -    $297,000

November -             $290,885

October -                 $290,000

September 2015 -   $290,000

August  -                 $290,000

July -                       $292,000
June  -                     $295,000
May 2015 -              $290,000
April -                       $281,000
March -                    $281,250


Closings for the month

October 2016: so far this month - 608
September 2016 -        1,647
August 2016 -              1,799
July 2016 -                   1,622
June 2016 -                  1,815
May 2016 -                   1,612
April 2016 -                   1,554
March 2016  -               1,440
February 2016  -           1,019
January 2016  -             918
December 2015 -          1,573
November -                   1,204
October -                       1,520
September -                  1,601
August 2015 -               1,660

July  -                            1,738
June -                           1,783
May 2015 -                   1,458
April -                            1,607
March -                         1,376


 

CONNECT WITH ME VIA FACEBOOKYOUTUBE, AND FOLLOW MY BLOG.



clear skies,
Doug Reynolds
Realtor
916-494-8441
 

         

The Claw is back - Leaf season in Sacramento Has started

The Claw is back. Leaf season in Sacramento Has started and the in street pick up begins soon. Take a look at the calendar and info. #Sacramento #CityofTrees



2016 Residential Leaf Season Collection 
First Day OutOctober 31, 2016
Last Day Out January 29, 2017

CLAW SCHEDULE:

Leaf pile pickup occurs approximately every two weeks.
All streets will have at least one collection occur between October 31 and November 10, 2016. 
You can use the Sacrecycle Collection Calendar to receive an estimate of the next collection date.   The calendar for leaf collection will be active starting October 31, 2016. The schedule is updated daily based on volume of yard waste from the previous day, weather conditions and equipment availability. Check the calendar frequently since collection dates do change often
It can take crews on average, ten days to complete one leaf sweep of the City.  In the early part of the season, collection may be more frequent. As leaf drop volume grows, and if wind and rainstorms occur, it can take crews up to two weeks to rotate through the entire city. 
Crews work rain or shine, including holidays.  

FILL CONTAINERS FIRST

More than 27,000 tons for yard waste is collected during leaf season and over half, 14,000 tons is picked up during weekly container service. Filling containers first helps us remove material faster. Weekly residential yard waste container collection will continue year-round on a customer's usual collection day. 

LEAF PILE GUIDELINES

  • Piles should be no more than five cubic yards in size (4'X4'X9' pile).
  • Place the pile six feet from any obstruction (cars, boats, basketball hoops etc.)
  • Make sure there is space between the curb and pile to allow water to flow to storm drains.
  • When possible, avoid placing piles in bike lanes.
  • Do not put pet waste in any yard waste pile or container. Pet waste goes into the garbage container.
  • Piles should not be in plastic bags.
  • Christmas Trees will be accepted in piles
  • Materials Accepted/Not Accepted