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

Roseville and Rocklin Real Estate

Were seeing the beginning of some changes in the market.  There are some price points that are seeing some resistance and it's mostly the higher the price the less the buyer pool is.  Anything in the entry level, 300,000 to 400,000 in the Roseville / Rocklin area will go quickly.  Surrounding areas are hot too.  Take Orangevale for instance, we're seeing small 1300 sqft places going for the mid 300's.
The beginning of appraisal issues are here.  Values have been pushed where a new ceiling is being crated with every sale.  This trend cannot and will not go on much longer.  There will be a market correction coming in the near future.  I'm not calling it a bubble, but a market correction seems like a better description of what's to come.  One way or another, either supply and demand, interest rates, jobs, 10 year adjust coming due... something will come into play and reverse the values.  No one likes to take about the market going down, but it is a cycle.  The general consensus is around a 7 year cycle in california.  I think that's close when you look historically; however, the last recession was a whopper.  This time around is more like 10-11 years.
Here's my 2 cents for the day.  If you 're looking to buy or sell a home in Roseville, give me a call.

Chad Phillips
Re/Max Gold
916-390-1476

The color you paint your house can effect your sales price.

Here's a good article.  We know fresh paint is the cheepest way to clean up a house, but didn't know the color could be so important.

The Paint Colors That Sell—and the Ones That Don’t

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Paint colors play a crucial role in successfully selling a home, having the power to influence a homebuyer’s decision to make an offer or move on—and the best colors, according to a new Zillow analysis, are blues and grays.

Homes with bathrooms that have soft blue walls (e.g., periwinkle, powder blue), specifically, sold for $5,440 more than expected in the analysis, as well as homes with a “greige” (beige/gray) exterior, which sold for $3,496 more than homes with brown or tan stucco exteriors. Homes with dark navy blue and/or slate gray front doors also sold for more: $1,514.

Certain colors, though, have the opposite effect, lowering sale prices by a few thousand dollars or more. In fact, homes with bathrooms that have white walls sold for $4,035 less than expected, while homes with darker walls (e.g., brick red, terracotta) sold for $2,031 less than expected.

“Color can be a powerful tool for attracting buyers to a home, especially in listing photos and videos,” says Dr. Svenja Gudell, chief economist at Zillow. “Painting walls in fresh, natural-looking colors, particularly in shades of blue and pale gray, not only make a home feel larger, but also are neutral enough to help future buyers envision themselves living in the space. Incorporating light blue in kitchens and bathrooms may pay off especially well, as the color complements white countertops and cabinets—a growing trend in both rooms.”

The analysis considered over 32,000 photos of sold homes across the U.S.