Real estate update for Sacramento and Placer County

Here's a quick and easy way to visualize what our real estate market is doing here in Sacramento and Placer county.  We noticed a decline in sales out there in October and that has continued to November.  The number of sold homes has declined; however, pendings were up. I think we have a mix of both the market correcting itself and a normal cyclical slow down as we head into the holidays.   We should see improved values YTD for next year. With the market cool down, I've instructed several sellers to hold off selling until spring. If you're a buyer, now's a great time to get out there and score a deal.  More than likely we'll be able to negotiate a good deal, especially with a motivated seller.  Give me a call! Chad M Phillips Broker Assoc. (Lic: 01405825) RE/MAX Gold (Lic: 01215931) 2998 Douglas Blvd., #125 Roseville, CA 95661 Primary: 916-390-1476 Secondary: 916-218-7500 http://www.realestate-roseville.com       October-15 Median Sold Price of Existing Single-Family Homes Sales State/Region/County Oct-15 Sep-15   Oct-14   MTM% Chg YTY% Chg MTM% Chg YTY% Chg   Placer  $394,720 $392,820   $380,170   0.5% 3.8% -4.9% 3.3% Sacramento $292,150 $289,760   $270,150   0.8% 8.1% -6.3% 7.7%

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Roseville and Rocklin average price per sqft

Placer county real estate update for Roseville and Rocklin

Average price per sqft chart below

September stats came out and data is showing us that the market has leveled off over the past 6 months.  The average price per sqft is right around 203.  Other data such as the inventory / houses sold, correlate and show a consistent trend in the marketplace.  Since we're nearly 2 months beyond this data I can tell you that we've seen things slow down.  It's typical this time of year heading into the holidays.

We're seeing this winter as a good time for buyers.  The ability to negotiate and get a deal is looking more and more promising since the days on market average is 2-3 months.  A savvy buyer will hunt down that motivated seller and get the house they want at a deal.

I'm not sure about the economy as a whole.  I have been thinking the stock market was going to crash again, but now I'm not so sure.  I'd feel much more confident investing in real estate, buying a house in Roseville or Rocklin will certainly be a good purchase long term.  A property is  tangible and unique.  I had money set aside to invest in the stocks, just too scared to pull the trigger.  I'm sticking to what I know, and I know real estate.

Chad M Phillips Broker Assoc. (Lic: 01405825)
RE/MAX Gold (Lic: 00983982)
2998 Douglas Blvd., #125
Roseville, CA 95661
Primary: 916-390-1476 Secondary: 916-218-7500
http://www.realestate-roseville.com

I just got a real estate legal update from a local attorney here in Fair Oaks.  Seems the debt forgiveness act isn't being extended here for the state taxes.  You'll be fine with the federal taxes being a short sale or foreclosure could effect your taxes come April 15th.
The best thing to do is to contact a CPA to see how the situation will effect you come tax time.  If you wish to pursue a short sale, that's where I can help you.  I'm CDPE certified; move over, I have experience and have done my fair share of short sales since 2008.  Contact me with questions: Chad Phillips Re/Max Gold Roseville CA 916-390-1476

Just found out some changes with the VA financing.  They're now allowing the escrow fee and pest report and repairs to be paid by the buyer.  I believe it's capped at 1% of the purchase price, but this is going to make selling homes in Roseville and Rocklin easier.
I have a great listing priced below market in Rocklin at 3320 Sandalwood Rd.  It's a short sale and working on an approved price at 415,000.  Comps are going at 440,000.  This property needs a roof!  I have a bid for 13,000 to get a new roof put on.
We're seeing prices recede slightly.  I'm not sure if that just due to the shift in supply and demand or if it's simply a market correction.  Either way buyers have a better negotiating position now then several months ago.  The market tends to slow down as we enter the holiday season.  Very typical this time of year.
This concludes your real estate market update for the Roseville area for today.

-Chad

Congrats to Kelly and Bret.  We sold their house the first weekend on the market just under asking price.  The values in Folsom have held stronger than some of the surrounding areas.  There's a high demand, especially in Empire ranch.
Team Phillips has another property closing escrow today.  Congratulations to Mark and Channelle on their purchase in Fair Oaks, CA.  Love the lot size!
I just reduced the price on my listing in Antelope.  8424 Palmerson Dr.  Well taken care of property!  3 bed, 2 bath, 1762 sqft listed at 279,000.  That's only 158 a sqft!  The roof is 5 years old and the heat/air is 1 year old.  Real hardwood floors, was a model home when the subdivision was built.

Sacramento area real estate update:
It's fall - 10/1/15

We're seeing the market stall.  It happened relatively quickly.  Our listings are sitting there and well priced properties aren't selling.  What is the cause?
I think the answer is simple.  Seems buyers just aren't out and about.  The problem isn't affordability. With the change in demand we've seen prices dip and interest rates remain low, even coming down some as well.  I believe we're seeing the cyclical trend that happens around this time of year.  The slow down is happening a little sooner than normal though.  It's around the holidays when people tend to hunker down and stay put thru thanksgiving and xmas.  With all this told, this is the good time to buy.  Just like stocks, buy when others are selling and sell when others are buying.  Thats it today from your Roseville real estate agent.

-Chad

Team Phillips just opened escrow on two new properties and listed one in Loomis.  We usually see a slow down in the real estate market come fall, but not this year.  Inventory is picking up and seems to be in line with demand.
Sacramento/Roseville area was just rated 9th hottest real estate market in the US.  We're certainly seeing the activity.
Re/Max Gold - Chad Phillips

916-390-1476