Remax Roseville CA Broker Associate

 Welcome to the bustling city of Roseville, California, where the real estate market is thriving! As a Remax real estate agent in Roseville, I'm excited to share with you some insights about the current state of the Roseville real estate market.

Over the past few years, Roseville has experienced tremendous growth, with more and more people flocking to the city for its excellent amenities, beautiful landscapes, and thriving economy. The result? A highly competitive real estate market, where both buyers and sellers need to be savvy and well-informed to achieve their goals.

For buyers, Roseville offers a wealth of opportunities to find the perfect home. From cozy townhouses to spacious family homes, Roseville has it all. As an experienced real estate agent, I can help you navigate the market and find the home that meets your unique needs and budget. Whether you're a first-time homebuyer or a seasoned investor, I'll work with you every step of the way to ensure a smooth and successful transaction.

For sellers, Roseville offers an excellent opportunity to cash in on the city's booming real estate market. However, to sell your home quickly and for the best possible price, you need an experienced real estate agent with a proven track record of success. That's where I come in. With years of experience in the Roseville real estate market, I know exactly what it takes to sell a home quickly and efficiently. From setting the right price to staging your home for maximum appeal, I'll work tirelessly to ensure a successful sale.

But the Roseville real estate market is more than just buying and selling homes. It's also about building strong relationships with clients, understanding their unique needs and goals, and providing the guidance and support they need to achieve their dreams. As a Remax real estate agent in Roseville, I'm committed to going above and beyond to provide my clients with exceptional service and support.

So whether you're buying, selling, or just looking for advice on the Roseville real estate market, don't hesitate to get in touch. As a Remax real estate agent in Roseville, I'm here to help you achieve your real estate goals and make your dreams a reality.

Roseville real estate market update spring 2023

I wanted to look into the stats as it's time for another update and the market slow down is noticeable.  Below is a chart showing home sales from last year compared to this year. It's safe to say the average amount of homes selling right roughly 1/2 of what the activity was last year.  Everyone in the industry will tell you we're feeling the pinch.  Companies are cutting back on overhead, supplies and manpower.

With this slow down though, what are we seeing with prices?  Homes are selling at 94% of original asking price.  This is something to take note.  Buyers are sensitive to their monthly payments.  The rise in interest rates has a direct effect in your monthly payment.  Lenders are trying to get creative with seller credits to buy down the rates so monthly payments are affordable; however, I'm not sure I would go that route.  In general, I think I would focus on the lower purchase price.  One can assume rates will come back down and you'll be able to refinance at that time.  I think it's a calculated risk.  Property taxes are based on sales price so I prefer to keep that as low as possible too.

This isn't a typical year so far.  A lot of people are staying put with the current rate they have on their house.  There's not much motivation to move right now.  Prices are holding strong considering how much rates have gone up.  Inventory in our area of active / pending is around 1400 units, where in years past it's around 4500 units.  That's roughly 1/3 of the activity that we're used to having.  I think we're about to see some inventory come available in the coming month.  The weather has likely kept people in place, we're going to have a late spring.  

I have several properties I'm currently working on that will be on the market soon.  If you're looking to make a move, feel free to contact me to help strategize a game plan.  I have good lenders I can recommend and explain  how to structure things to accommodate your timing. 

2023 real estate and market

 It's a little soon to be talking about 2023 without it only being speculative.  As of now we're seeing rates around 6.25% on a 30 year fixed.  We've been told the feds are going to cut back on the rate hikes as we're seeing positive signs in the economy with inflation.  We're not out of the woods yet!  

Home prices in Placer county are down 10-15% from the high in July 2022.  Prices over time will continue an upward trend.  This correction has mostly to do with supply / demand and of course the value of the dollar.  Inflation was caused by the government printing money and wreck less spending.  I don't want to get political here but I prefer our gov. to be conservative when it comes to economic policies.  To be transparent, I'm more liberal on other things.  Really though, I guarantee they don't manage their own finances like they do the tax payers money.   At what point is the deficit going to be unmanageable?  Are we already past the point of no return?  The scary answers to those questions I believe is that the interest payments alone are unsustainable and we'll default.  Next question is when?  I think the answer to that questions is scary too, not too far away... maybe within 5 years.  With the impending default, what will that do to our county?  Not an easy one to answer!  We're in a global economy now and defaulting will cause a ripple effect and likely take down other countries too.

It's only Jan 6th and my phone is already ringing.  I'm going to show a house in 45 minutes to a buyer.  Sellers are calling looking for a game plan.  I was curious before Christmas how this year would start out and it's going better than I expected.  There will be plenty of business out there.  People are always having to move.  Weather its for work, marriage/divorce, kids... there's always activity.  We are expecting more people to hunker down this year.  A lot of people like myself are in a cozy fixed rate mortgage and don't want to mess with anything in the 6's.  We're going to see roughly 30% of real estate agents get out of the business.  There's simply not enough deals to go around.  There's the ol saying too, 20% of the agents do 80% of the work.

For buyers out there, my advise is to run numbers with your lender.  If you don't have a good lender, I can recommend several.  Find your comfort spot on payments and that will dictate your price range.  Review all your options with the lender.  ARM loans, jumbo, bridge...  Over the past 20 years selling real estate here at Re/Max Roseville, I would stay away from ARM loans, but now I think it's a viable option.  Get in with a better rate and look to refi in 5 year.  Do an ARM loan with a seller credit to buy down the rate!  Get it in the 3's maybe.

With regards to selling a property in Placer county right now, we're looking at a downward trend in prices.  If I was a betting man, I would guess this downward trend will change come spring.  It's likely better for a seller to hold off from going on the market right now.  I put more power in the buyers position, but as I mentioned I think that will change.  We're accustom to seeing the market down in the winter and up in spring.  This trend is likely to repeat.

With all this said, I don't have a crystal ball.  We can only use the information we have at hand and guess as to what the future holds.  One thing I've learned is that it's all about perspective.  Eye of the beholder.  

I welcome a strong and productive 2023 selling houses in Roseville and Rocklin.  

Cherio!