Spring is upon us, and we're starting to see more home come available. It's typical for the market to pick up this time of year. I'm getting several properties ready for sale right now myself. New construction is in overdrive, they are cranking out houses as fast as they can. In 2023 new home sale accounted for 25% of the houses sold in the Sacramento / Placer / El Dorado Hills counties. This is a substantial amount of sales occurring. There's a shortage of resale homes and it's having an effect on those of us in the business. There's simply not enough homes to keep everyone afloat in real estate.
Prices are on the rise too. I was working on several properties to get ready for sale and now we're revisiting the valuation. There's a house I'm putting on the market next week in Serrano and we elected in the end of 2023 to list at $850,000. Now I'm thinking we'll get upwards of $900,000 for it. It will be the lowest priced house in Serrano.
I don't think I've mentioned this before but 3 years ago I bought a property in Roseville. 2.5 acres on Main st. It's raw land that I entitled and broke into 10 lots. It took perseverance and money to get the tentative map and brought all the way to final map. I got multiple offers on my project and it's currently in escrow. It was a great project, I learned a lot in the process and I stand to make a good profit too.
I mention the Top Producer Magazine as I was featured broker as a top selling Roseville real estate agent. I've been in the business for 20 years now and I've built relationships with business professionals and past clients. I've gained the experience and trust of clients and peers which makes things even easier in this tough and competitive business. We're always learning and doing new things. I specialize in partition sales and that's something I didn't even know about until 10 years in the business. There's lots of different aspects to real estate.
Looking forward to spring 2024. If you have any real estate questions, reach out to me.
Chad Phillips
Re/Max Gold
916-390-1476
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