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ACTIVE ADULT COUNTRY CLUB LIVING FOR
$319,000
Refreshing updated feel throughout home. Great floor plan with lots of character and large windows allowing natural light to fill home. Home recently painted, new carpet and 2 inch shutter blinds throughout. Master bedroom & kitchen nook lead to large covered backyard patio. Exquisite new front and backyard low maintenance landsacping will make all your neighbors jealous! Immaculate home ready for you to move in!!! CLICK LINK BELOW FOR ADDITIONAL PICTURES |
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Price Reduced from $825,000 to $699,000!!!!
Spectacular home in gated Diamond Oaks. Next to golf course. 4 bdrm + den & giant bonus room completely outfitted w/built-in cabinets/shelves/desks. Kitchen beautifully updated w/granite, stainless steel appl, slate & wood floors. Great entertaining yard fully landscaped w/fountain, large deck bbq island. CLICK LINK BELOW FOR ADDITIONAL PICTURES |
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Year to date, we have seen a 33% decline in the
average price per square foot and a 36% decline in
median price," said Michael Lyon, CEO of Lyon Real
Estate. "Bank-owned properties, representing
63% of
all sales are driving these declines and their inventory
continues to grow by 5% for properties under
$200,000 - which is where the action is. Every bank-
owned price range above that is selling at the same
feverish pace but with not as much volume as the
lowest price ranges."
"The toughest market is the non bank-owned price ranges above $750,000. Every county has two years or more of standing inventory for $750,000+. The exceptions to these dismal inventory levels are still the enclaves close to job centers." TRENDGRAPHIX's latest report shows that sales remained the same during the month of July for the Tri-County region of Sacramento, Placer and El Dorado Counties. July 2008 sales were 82% higher than July 2007 sales. Pending sales increased by 9% from June to July 2008. July 2008 inventory of 10,954 homes for sale is 27% lower than July 2007 inventory. This is a 28% decrease for the regional inventory record high of 15,302 set in August 2007. COUNTY HIGHS AND LOWS Sacramento County - from June to July 1% increase in sales Inventory decreased by 3% Pending sales increased by 9% 43% of the homes sold for under $200,000 48% of the homes sold between $200,000 - $400,000 9% of the homes sold for over $400,000 The average $/sq ft decreased by 3% to $141 Placer County - from June to July 2% increase in sales Inventory - no change Pending sales increased by 6% 6% of the homes sold for under $200,000 59% of the homes sold between $200,000 - $400,000 35% of the homes sold for over $400,000 The average $/sq ft decreased by 2% to $174 El Dorado County -from June to July 21% decrease in sales Inventory increased by 2% Pending sales increased by 15% 7% of the homes sold for under $200,000 47% of the homes sold between $200,000 - $400,000 46% of the homes sold for over $400,000 The average $/sq ft decreased by 3% to $191 Info from Trendgraphix |
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After years of gloomy forecasts and despite a still-
declining real estate market, something new is
creeping into the housing forecasts: Hope.
It's a sense that economists can see outlines of an emerging bottom. It's not universal, but national reports this week suggest a glimmer "that the severity may be waning." That's based on the glut of new homes falling to a five- month low, prices beginning to fall more slowly and even rise in some U.S. cities. "The bottom of the housing market is coming into view," said Mark Zandi, chief economist of Moody's Economy.com. Zandi had a similar forecast for Sacramento. "We are at the beginning of the end of the Sacramento housing crash," he said late Wednesday. Zandi said the region's market will be on solid ground within a year. Zandi, who has generally been more pessimistic through the housing crisis than many real estate industry insiders, said, "There are more house price declines to come, but the worst of the free fall in prices is at hand." Zandi made the comments in an e-mail after The Bee requested his views on the Sacramento market. "There remain some serious threats to the outlook, including the ongoing credit crunch and weak job market, but with a bit of luck, including stable oil prices, and good policymaking, the Sacramento housing market will find its footing by this time next year," he said. "Prices will resume rising again early in the next decade." Zandi said another 5 percent to 10 percent declines in home prices will "restore housing affordability" in Sacramento and coax more first-time buyers back into the market. Many have already jumped in as sales prices the past year have fallen by one-third across much of the region. Sales have risen above last year's levels for four straight months in the Sacramento region and statewide as more buyers can afford lower prices. Among them is Rachel Garcia of Sacramento, who recently bought a $114,000 bank repo off Norwood Avenue just north of Interstate 80 in Sacramento. "I'm 28 and this is the biggest dream I've always wanted to accomplish," she said. "If the market wasn't the way it is, I couldn't have made a buy." Garcia said she's untroubled by prospects of further declines in home values. She said she is in her house for the long term. "Honestly, I just wanted a house. I don't really see it as an investment. Hopefully, I'll get married in the house and have children and the dog will have puppies." Concerns still exist however, about foreclosures, which still haven't peaked in the Sacramento region. Scott Thompson, a partner at Citrus Heights-based Mortgage Resolution Services, said he thinks a shortage of buyers will begin to show late this year. "I think we are plowing through all the good buyers who are enthusiastically in the market. We're going to get to November and be at the end of the buyer pool," he said. Thompson predicted the median sales price in Sacramento County -- which dipped to $210,000 last month for new and existing homes combined -- will fall below $200,000. Article from Jim Wasserman, Sac Bee (8.28.08) |
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FOR A FREE MARKET ANALYSIS OF YOUR HOME AND ESTIMATE OF VALUE CALL OR EMAIL ME! I WILL GET YOU THE INFO WITHIN 24 HOURS OF YOUR REQUEST. Please contact me with all of your real estate needs and questions. I am always available to you, your family and friends!
Sincerely,
Kia Kapci
Lyon Real Estate
email:
kkapci@golyon.com
phone:
916-782-0558
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