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
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