I met some wonderful people today while showing a property in Auburn. It is a country home across from a golf course on an acre… oh, and it gets better – is for sale under $300,000. While it is not Elite Properties’ listing, the potential buyers appreciated knowing that they could ask pointed questions about the house without hurting anyone’s feelings.
Which makes me think about the new club of buyers I’ve been running into lately. This market sure has created a new surge of investors and as well as first-time buyers. I guess every new market downturn brings with it its own club of new investors. What I’m seeing is the new buyers are not as scared of a market turnaround. They’re in it for the long haul. Even the first-time buyers today have an eye to retiring with their real estate intact. They understand the value of a home and are aware of the advantages of rental properties.
Like the clients I met today said, “Owning real estate in California is like owning gold. Why would you EVER sell?”
Well said! I thought. My thoughts exactly.
Posted in Investment Properties, Market News, Sacramento County | Add a comment »
See for yourself. Here are the latest statistics hot off the MLS:
Total number of homes for sale on or before July 31, 2007: 11,016 with a median price of $329,960
Total number of homes pending sale between July 1, 2007 and July 31, 2007: 1038 with a median price of $315,000
Total number of homes sold between July 1, 2007 and July 31, 2007: 928 with a median price of $330,000.
The median price is up only $2,000 from last month and sales have fallen since June 2007. In June, Sacramento county recorded 1068 sales.
Average days on market remain between 50 – 60 days.
Lots to look at and flat prices. Good time to buy!
Posted in Market News, Real Estate, Sacramento, Sacramento County | Add a comment »
I’ve fixed a few bugs and added data to support more community pages.
We now have basic community information and active and sold listing maps in place for:
There’s still a long way to go on the bug fixing and improving the look of the pages. I was learning how to do map mash ups at the time, and at the same time sometimes being too clever with the fonts, so it’s none too pretty, but I can clean that as we go.
Posted in El Dorado County, Listings, Maps, Placer County, Sacramento County | Add a comment »
Okay, so it wasn’t on this blog, but I had been advertising my property for rent and I’m glad to say after just a month of moving out of it and three long weekends of prepping it (I say prepping, but we painted, refinished the floors, painted some more, cleaned, landscaped, etc.) it’s finally rented for $1300 a month!
Which is pretty good. But here’s what a lot of people are not aware of with the current market – sales suck, but rents are good. All those people with foreclosed homes have to go somewhere! And chances are they will end up back in the same neighborhood they left.
So, for the first time in a while, rents have inched up a little! Although the aim of buying an investment property is always to make it cash flow, that’s not always the case in Sacramento. But in this market, that dream might just become a reality! So, come on investors – there are a lot of houses out there just waiting!
Posted in Investment Properties, Neighborhoods, Sacramento, Sacramento County | Add a comment »