We’re off to a strong start in 2024. Inventory is starting to pick up and rates are holding steady. Personally, I have a half dozen listings I’m working on to sell soon. I have a Listing in Serrano, El Dorado Hills, two Partition sales come in in Sacramento, I’m selling 42 1 acre lots and El Dorado Hills off Green Valley Road, I have a townhome coming for sale in Natomas 2200 ft.² four bedroom three bath Priced at 540,000. I also have a subdivision for sale in Roseville located at 1028 Main St. This is a 10 lot project, quarter acre lots. Several conditions left before final map is approved. This project is priced at 1.2 million.
I can tell you we’ve already seen a decrease in them out of agents and lenders in the business. 2023 was a difficult year with minimal amount of home sales and placer Sacramento and El Dorado counties. For example, our office typically has around 90 to 100 agents, we’re down to 60. Much of what the Roseville real estate market is experiencing is sales that are life events. What I mean by that is either a forced sale like a partition, or marriage divorce… People are holding off on buying up and this is keeping inventory tight.
We have 14 different builders in Roseville California right now and they are all building as quick as they can. Financing incentives and they’re able to sell new construction rather quickly.
Having been in real estate for 20 years, I’ve seen many changes in the market. I just came across my BPO last week since 2011. I reached out to accompany. I used to do foreclosures with to get an idea of what the market might look like this year. They told me they had 80 houses in the foreclosure process in the Roseville area. It seems we’re gonna have an uptick of short sales and foreclosures and Sacramento placer County starting this year. The cost-of-living in California has gone up substantially, and a lot of people are relying on credit cards to bridge the gap. Folks might be looking to sell as they have equity. However, they’re not able to keep up with the payments.
If you find yourself in a tight situation and looking for a solution, you should reach out to Roseville real estate agent, Chad Phillips. If it’s through me or other business professionals, I can help guide you and offer the best solutions for your situation.
