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| Gold River Station Real Estate |
Today's Tips |
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 It's a great time to buy!!
Read below for the reason why!
It’s heartening to see encouraging signs in both the general economy and the real estate market in California. As is often the case, California is ahead of the nation in market recovery. The state’s median home price increased year over year in November for the first time since August 2007, sales bottomed out more than two years ago, and the median home price reached its trough in February 2009.
Going forward, we expect the statewide median home price to rise 3.3 percent to $280,000 this year, with a slight decrease in sales. While no one has an infallible crystal ball, it looks like the worst is behind us, and we can move forward with confidence that better days are ahead.
Currently, there are five active listings in Gold River Station. One is an REO property with the rest being short sales. Three of the short sales have offers on them. The price range is from $170,000-$319,900. The Days On the Market (DOM) for the REO property is at 51, for the short sale listing DOM is at 53 and for the short sale contingency properties the DOM is 73.
As of today (3/09/10), there are three pending sales. As of September 1, 2009 to present there have been thirteen sales, with the lowest priced at $211,000 and the highest at $300,000 with 22 DOM. Lastly, there are three expired/withdrawn listings.
This interactive graph shows the average price per square foot for the 95670 zip code.
There are still multiple offers on both the REO's and short sales and shorter DOM which is an indication that we are close if not at the bottom of the market. I recently listed a equity sale (normal sale) home in Fair Oaks and within two day on the market I had eight offers. I told the other interested buyers that my client had enough offers and if for some reason none of the eight offers didn't come together I would let them know!
I can say from experience working with buyers that with most REO's they are going with multiple offers with at least 5-15 on the average buyers wanting the property!
Remember that if you are a first time homebuyer, you only have until April 30th, 2010 to take advantage of the $8,000 credit from the government. If you know anyone that qualifies for this $8k credit, please call me and I would be happy to assist them.
Another buyer tax credit applies to existing home owners where you can take advantage of up to $6,500 if you have owned/lived in your existing home five out of the last eight years. This tax credit also goes away after April 30, 2010. Call me for more details.
A new feature I am including is an interactive link that shows the months of inventory for the Sacramento County area only. This is a good visual of why there are multiple offers on almost every home currently on the market!
This is chart shows the days on market for the 95670 zip code....
For those of you that are thinking of buying within the Sacramento vicinity now is the perfect time to do so. The biggest hurdle is finding financing options. You definitely have to have great credit, a job and documents to prove you are credit worthy!
Also, keep in mind if you or someone you know is fortunate enough to have equity in their home you could possibly experience a positive cash flow purchasing a home in today's market. Ask me how you can use your equity by staying in your home and investing in another property.
As noted earlier, there is a little less than a three month inventory which means it's moving closer to a seller's (bank owned) market. It was a fourteen month inventory not too long ago, so again the market is picking up, so don't wait to get those bargains~call me today!
If you are considering moving "up", now is a great time as housing prices in the upper price range have come down even more than the median priced homes. Take advantage of the lower interest rates and great low prices!
If you or someone you know is in need to sell, I have some proven methods to get your home sold over your competition, as well as a seller's guarantee. To learn more, call me today at 960-0786.
If you are wanting to downsize and are over 55 years, why not take advantage of Prop 60 or Prop 90? Call me if you do not know about this awesome tax break for anyone 55 years or over.
In regards to interest rates, they are still at or around 5% for a 30 year loan. Sometimes, depending on your credit and the type of loan you go for can be below 5% and a little less for a 15 year conventional loan. Also, tighter qualification requirements have taken some buyers out of the housing market which obviously effects the sellers! The key to this market is to price your home aggressively and have your home shine above your competition.
Below are several homes that have sold within the GRS neighborhood by various realtors and Brokers participating in the Multiple Listing Service (MLS). Please note, all information provided by seller/other sources are not verified by Broker.
If you are thinking about selling or just curious what your home is worth, call me for a no hassle, no obligation competitive market alaysis of your home. My number is 960-0786.
Information based from MetroList Services, Inc. for the period 09/01/09 to 03/09/10.
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