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.
Friday, February 9, 2018
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.
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.
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Chad Phillips Real Estate Broker Associate RE/MAX GOLD
916-390-1476 | 2998 Douglas Blvd #125 Roseville CA. 95661 |chad.remaxgold@gmail.com | www.RealEstate-Roseville.com
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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.
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 realtor.com
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 realtor.com
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.”
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