Sacramento County Real Estate Update October-November 2011

Doug Reynolds, a Sacramento Realtor, provides an analysis of the local market statistics from September. This month discussing how Sacramento area sales went down a bit in September. As well as the issues with low inventory and the competition from buyers. Multiple offers are not uncommon at this time.  And still remaining true, roughly 1/3 of all sales being bank owned/foreclosures, short sales and regular/equity sales. Check out his short sale website www.BHGshortsales.com .  More information can be found at his website, www.BuyWithDoug.com, as well as his blog and Facebook page (Doug Reynolds Real Estate). Become a fan of his YouTube page and Facebook pages.

clear skies,
Doug Reynolds
 
www.BHGshortsales.com

September 2011 Housing Statistics - Sacramento County

Sales prices flat, decreased activity for September

Sales decreased 5.6% from 1,711 units sold in August to the current 1,615 units sold this month. Year-to-year, closed escrows were up 12.7% from the 1,433 units sold last September. Making up the closed escrows this month were 602 REOs (37.3%), 423 short sales (26.2%) and 590 conventional sales (36.5%). These numbers have stayed relatively level month to month.

The median home sales price barely changed month-to-month, decreasing .4% to $164,283 from the $165,000 median sales price of last month. Compared with September 2010 ($180,000), the median sales price is down 8.7%. The $200,000 - $249,999 price range mode still accounts for a majority (13.6% or 219 units) of the 1,615 total sales this month, while homes under $100,000 totaled 289 (17.8%) units. Closed escrows from conventional financing (570 units or 32.3% of all sales) decreased 6.1%, while cash buyers increased (548 units or 31.1%) and FHA financing decreased (505 or 28.7%) 7.2% and 1.7%, respectively. The average amount of days spent on the market (from list date to opening escrow) 67 days; the median DOM was 37.

Active Listings numbered 3,607 properties and Active Short Sales Contingent showed 2,268.

Active Short Sale Contingent properties are short sale properties on which initial offers have

been made and are not entirely “active.” The Housing Market Supply figure for August was 2.2 Months – down 4.3% from last month. This figure represents the amount of time – in months – it would take to deplete the Active Listing Inventory (3,607) given the current number of closed escrows (1,615).

According to MetroList® MLS data, the average home was 1,699 square feet. Of the 1,615 sales this month, 157 (9.7%) had 2 bedrooms or fewer, 867 (53.6%) had 3 bedrooms, 480 (29.7%) were 4 bedroom properties and 111 properties (6.8%) had 5+ bedrooms.

clear skies,
Doug Reynolds
 
www.BHGshortsales.com

Sacramento council approves naming alleys Midtown

After years of dead ends, the City Council voted Tuesday night to name the alleys of the central city grid. The new names will be a nod to Sacramento's history and character.

As a result, alleys in most of midtown and downtown will begin with the letter of the street to its north. For example, Blues Alley will run between B and C streets and Victorian Alley will run parallel to V and W.

City officials are beginning to develop the grid's alleys and hope to one day have cafes, housing and shops lining some of the corridors. In order to develop the passages, the city had to give them names.

Some of the names include:

• Solons Alley, a reference to the minor league baseball team that once called Sacramento home.

• Tomato Alley, named for the city's most recognized agricultural product.

• Democracy and Government alleys. The city is, after all, the capital of California.

• Liestal Alley. Liestal is a city in Switzerland and one of Sacramento's sister cities.

How to Lower Your Sacramento County Property Taxes

Doug Reynolds, Sacramento Area Realtor interviews a local Real Estate Appraiser (Ryan Lundquist, (916)595-373, sacramentoappraisalblog.com) Ryan discusses how to appeal your property taxes and get them lowered.  In some cases a homeowner can end up saving hundreds of dollars per year by successfully appealing their  assessed value.  Give Doug Reynolds or Ryan Lundquist a call if you have any questions or need any assistance with the process.

clear skies,
Doug Reynolds
 
www.BHGshortsales.com

Sierra Oaks, Wilhaggin, Del Dayo and Shelfield - Sales Data for September 2011

There were 10 homes sold in Sierra Oaks, Wilhaggin, Del Dayo and Shelfield in the month September of  2011.  This is a slight decrease from the 11 sold in August .  Here are the addresses and specific details:

Currently there are: 57 active listings, 9 active short sale listings, 8 contingent short sale listings, and 11 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
 
www.BHGshortsales.com

Arden Park and Arden Oaks - Sales Data for September 2011

There were 13 homes sold in Arden Park and Arden Oaks in September 2011.  That is a increase from the 6 sold in the month of August .  Here are the addresses and specific information:

There are currently: 69 active listings, 13 active short sale listings, 16 contingent short sale listings, and 31 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 Arden Park or Arden Oaks area.

clear skies,
Doug Reynolds
 
www.BHGshortsales.com

Elmhurst and Tahoe Park Sales Data - September 2011 (Sacramento, Ca)

There were 15 homes sold in Elmhurst and Tahoe Park in September of 2011.  That is an increase from the 7 homes sold in the area in the month of August .  Here are the addresses and specific information.

Currently there are: 48 active listings, 13 active short sales, 9 contingent short sales, and 25pending 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 Tahoe Park / Elmhurst area.

 clear skies,

Doug Reynolds
 
www.BHGshortsales.com