Friday, February 9, 2018

Roseville Real Estate - Market Update

This is about the time when I thought the market would pick back up, right after the Superbowl... and it has!
We're seeing inventory increase as people are looking to get their house listed and sold before the spring flood of properties.
With the increase of inventory coming and a likelihood of increased interest rates, will we see a drop in home prices?  I don't think so, not here in Sacramento / Roseville area anyways.  I believe our demand for housing will be in align with supply.  We have a lot of people coming here from the Bay and other areas that see us as an affordable place to live.
I'm getting ready to put 6 houses on the market.  Winter is a nice time for us agents as things slow down, but I'm looking forward to getting out and selling more houses in Roseville.
I have a great 2200 sqft single story in Roseville that I'll be listing shortly.  Those single story homes are in high demand.  Currently there's only 7 houses listed in MLS that are single story in that price range 450-500K and 5 of them are new construction which we all know have zero lot lines and no landscaping.

Thursday, December 14, 2017

December 2017 - End of year - Roseville real estate update

Several things going on in our crazy world.  Feds just raised the rate a quarter point.  This was to be expected, 3rd time this year they've raised it.  Our economy is doing well and expectations are positive.  There's mixed reviews and feelings about the tax bill about to pass.  I'm optimistic that this will stimulate the economy even more, create new jobs and better opportunities for people.  The simple idea of more jobs is great, but more good paying jobs is the key.  It will probably take a year for us to see the effects of the tax cuts.  2018 is going to be a very telling year for the Trump administration. 
Now, back to our local economy and real estate market.  It's a slow time of year for escrows.  I have a half dozen active buyers; however, they've either seen everything out there or there's nothing to show them.  The sellers I have are mostly waiting for spring to list.  Last year I recall everything kick started early, right after the superbowl.  I'm telling my sellers to be on standby.  As a seller, a low inventory is going to help attract a higher sales price.  I'm looking to get several new listings on mid feb.  I have a great one in Folsom, right behind Broadstone for 450K, and another one in Orangevale that will be ready for 350K. 
I hope everyone has a good holiday vacation, a good Christmas and new years.  You'll get another update from your Roseville Real Estate Agent come the new year.

Chad Phillips Real Estate Broker Associate  RE/MAX GOLD
916-390-1476 2998 Douglas Blvd #125 Roseville CA. 95661 | |   

Friday, December 1, 2017

High End homes in Placer county, El Dorado county

In all honesty, I haven't typically dealt with home above the 1 Million mark.  It's a niche market and those homes in El Dorado Hills, serrano and granite bay Los Lagos are highly sought after.  There are agent who live in those communities and have a pretty good lock down on the area.  Recently I got a nice big listing up in Auburn CA.  When I listed the house for sale in auburn, I thought we were listing it at a strong price per sqft.  It's an 8200 sqft custom house.  This thing has all 2x6 construction, 7 car garage, 2 laundry rooms, theater, wine room, views of folsom lake and downtown sacramento...
We went on at 1.6M.  That was 4 months ago!  We're now listed the house for sale in Auburn at 1.45M.  We have had some interest and showing; however, it seems people only want to buy it if they're able to steal it.  I'm talking prices where I would buy it before selling to them. 
On another note:  I was referred some high end buyer from one of my real estate investors in Roseville CA.  After meeting with them and showing them 5-6 houses in Serrano and around El Dorado Hills, I've come to get more familiar with the high end market.  It's a slow going!  The economy is going, stock market is strong but people are hesitate to go out and buy that million dollar home.
I ran some searched on the computer to see how much has actually sold and in pending status and it was surprising to see that the amount of sales was way below what I had expected to find.  There are some really good deals out there now in the high end market.  Houses that you cannot build for the cost, yet my buyers are skeptical and hesitate to pull the trigger and buy a house in granite bay.
Even thou I'm know as the Roseville real estate agent, I'm ready to take on the houses for sale in Granite bay.  This could all be timing.  It's normal for things to slow down around the holidays. 

Monday, November 27, 2017

2018 forecast

Our housing market for Placer and Sacramento County.

Almost another year down and we're seeing one of the best years in real estate.  Values have continued to go up here in Roseville.  The roseville real estate market has been consistently going up with the influx of buyers from the bay area.  As we're in the thick of winter now, the market has took a slow down; however, this is typical this time of year.  Buyers should be out now to get a good buy.  Come spring time, granite bay and rocklin real estate prices will go up around 5%.
Personally I've been looking high and low for a good income property and it's tough.  Much more favorable would be an owner occupied house in Roseville that will rent for around 2,000 a month.

I just found out that our Roseville Re/Max office has just sold over 415M in sales this year.  That's pretty good for 85 agents.  Last year we were at 350M.  We might have picked up a little, I know I've doubled my business, but you have to account for the rise in prices too.

Back to the market...
I have several clients that are listening to me and holding off from selling right. now.  If you're able to wait until spring time, then you should get a better price.

My projection will be that we'll see around 5% appreciation with a downturn in values come 2019.  I think the real estate cycle that we're used to every 7 years has been warped and extended to 10-12 year cycles now.

Here's an update put out by

New homes are expected to be a “primary driver of sales in 2018,” as 1.33 million housing starts are predicted next year—up from 1.22 million in 2017, according to Freddie Mac’s September Outlook report, which gauges future real estate activity. Total home sales are expected to increase about 2 percent from 2017 to 2018, according to the report.
Economists also predict that the uptick in housing starts, coupled with a moderate increase in mortgage rates, will help slow the run-up in home prices next year. Freddie Mac forecasts a 4.9 percent increase in home prices in 2018, lower than the 6.3 percent growth seen so far this year. Mortgage rates also are up from near-record lows in 2016, prompting predictions that refinancings will fall to 25 percent of mortgage activity in 2018—the lowest share since 1990, according to Fannie Mae.
Still, homeowners likely will continue building equity next year. In the second quarter of 2017, the dollar volume of equity cashed out was $15 million, up $1.2 million from the first quarter. As home prices rise, cash-out activity has been rising, too.
“The economic environment remains favorable for housing and mortgage markets,” says Freddie Mac chief economist Sean Becketti. “For several years, we have had moderate economic growth of about two percent a year, solid job gains, and low mortgage interest rates. We forecast those conditions to persist into next year.”

Friday, October 20, 2017

roseville real estate update Fall 2017 Re/Max

2017 Fall update

Here we are, first little rain of the season.  What does this tell us about the real estate market in the Sacramento area and placer county.  Nothing you wouldn't or shouldn't expect.  Our market is doing fine and it's normal for values to dip in the fall.  I've added two graphs below that show a similar trend that identify what the housing market is doing here in Roseville and surround area.  You'll see that the upward trend has been consistent; however, a slight dip in the fall.

If you're considering buying a a house in the Roseville or Rocklin area, give me a call.  Interest rates are still low and if you wait until spring you'll wish you would have bought a house already.  On the flip side, if you're looking to sell, it's probably going to be a better time come spring if you can hold off.
I was just rated one of the top three real estate agents in Roseville by ThreeBestRated. 
Here's a link to see yours truly. 

Wednesday, August 30, 2017

Placer and Sacramento County real estate update 8/30/17

The market trend continues...
I'm skeptical though, I think the market is due for a correction. We've shoot up again too much and too fast in accordance with peoples affordability.
I think we have a couple US markets to keep an eye on as they should decline before we do. When we start to see Florida, and Arizona drop, then I think we'll follow suit. The constant influx of bay area buyers will keep us stronger than other areas of our state and country.
Another key market indicator is market rents which have skyrocketed. Rents are up about 10% in the last year.
Looking forward to another strong year!
Home prices increased in June 2017, and are unlikely to reverse course, reports the S&P Dow Jones Indices.

Friday, August 11, 2017

August update: Roseville

Here we are in August already.  Wrapping up the nice summer we had, kids back in school already.

How is the real estate market and what can we expect?

In the past weeks, I've noticed a change in the market.  Demand is down and inventory is gaining.  I think we'll see 3-5% shift downward this winter.  We're due for a market check.  If you're a buyer right now and can wait until November, do it.  I think you'll be happy you did.  As for sellers, it's not so much a sellers market anymore.  We're more balanced right now, not a buyers market, nor sellers.

I have some new houses coming on the market soon in Roseville, Rio Linda, Orangevale, and a condo in Sacramento.

If you're looking for a one, I just listed a 8200 sqft house in Auburn.  1 millon for the view and only 600k for the house.  Great deal. (806 sunnyslope Way)

Another new one in Natomas, (5520 Lackland Rd) 2444 sqft 3/3 for 450K