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.

Chad Phillips Real Estate Broker Associate  RE/MAX GOLD
916-390-1476 2998 Douglas Blvd #125 Roseville CA. 95661 | |   

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.