Low Inventory

There is a good chance you’ve been hearing about the hot the real estate market. Like many Roseville homeowners you might be considering a move but you’ve been waiting for the right time. As a real estate professional I’m thrilled to report a positive outlook for those who are thinking about selling.  I've been encouraging some of my clients to get listed before the typical spring time.  With values up, we might see a flood of inventory come spring; thus, effecting the supply/demand.  Below are statistics that indicate it may be a sellers market.
 - According to the Association of Realtors inventory of available homes has decreased 3.3 percent from December of 2014 to December of 2015. In December of 2015 there was a 5 month supply of homes, this is below the 6 month supply that many real estate professionals consider normal. - The number of homes sold according to the National Associations for Realtors was 3.8 percent lower in 2015 than 2014, this is due in part to the lower number of homes available for sale. Typically when there are fewer homes for sale it is considered a sellers market.
 - Additionally the National Associations of Realtors reported that single family home prices nationwide have risen 6.3 percent in 2015. I am sharing this information with you because inventory in Roseville and Rocklin is low, and I am hearing from agents and prospective buyers that they just can’t find what they are looking for.   Contact me for a detailed CMA and marketing plan to get you top dollar.

-Chad Phillips
Re/Max Gold Roseville, CA
916-390-1476
www.realestate-roseville.com

Roseville Real Estate: Home prices in 35% of major metro areas hit all-time high in 2015 | 2015-12-03 | HousingWire

RealtyTrac: Home prices in 35% of major metro areas hit all-time high in 2015 | 2015-12-03 | HousingWire



We're expecting spring 2016 to be a busy time selling homes in the Roseville / Rocklin area.  I've talked to other brokers who have their pipeline ready to put houses up for sale soon.

Chad M Phillips Broker Assoc. (Lic:
01405825)

RE/MAX
Gold (Lic: 00983982)

2998 Douglas Blvd., #125

Roseville, CA 95661

Primary: 916-390-1476 Secondary: 916-218-7500

http://www.realestate-roseville.com

Real estate update for Sacramento and Placer County

Here's a quick and easy way to visualize what our real estate market is doing here in Sacramento and Placer county.  We noticed a decline in sales out there in October and that has continued to November.  The number of sold homes has declined; however, pendings were up. I think we have a mix of both the market correcting itself and a normal cyclical slow down as we head into the holidays.   We should see improved values YTD for next year. With the market cool down, I've instructed several sellers to hold off selling until spring. If you're a buyer, now's a great time to get out there and score a deal.  More than likely we'll be able to negotiate a good deal, especially with a motivated seller.  Give me a call! Chad M Phillips Broker Assoc. (Lic: 01405825) RE/MAX Gold (Lic: 01215931) 2998 Douglas Blvd., #125 Roseville, CA 95661 Primary: 916-390-1476 Secondary: 916-218-7500 http://www.realestate-roseville.com       October-15 Median Sold Price of Existing Single-Family Homes Sales State/Region/County Oct-15 Sep-15   Oct-14   MTM% Chg YTY% Chg MTM% Chg YTY% Chg   Placer  $394,720 $392,820   $380,170   0.5% 3.8% -4.9% 3.3% Sacramento $292,150 $289,760   $270,150   0.8% 8.1% -6.3% 7.7%

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Roseville and Rocklin average price per sqft

Placer county real estate update for Roseville and Rocklin

Average price per sqft chart below

September stats came out and data is showing us that the market has leveled off over the past 6 months.  The average price per sqft is right around 203.  Other data such as the inventory / houses sold, correlate and show a consistent trend in the marketplace.  Since we're nearly 2 months beyond this data I can tell you that we've seen things slow down.  It's typical this time of year heading into the holidays.

We're seeing this winter as a good time for buyers.  The ability to negotiate and get a deal is looking more and more promising since the days on market average is 2-3 months.  A savvy buyer will hunt down that motivated seller and get the house they want at a deal.

I'm not sure about the economy as a whole.  I have been thinking the stock market was going to crash again, but now I'm not so sure.  I'd feel much more confident investing in real estate, buying a house in Roseville or Rocklin will certainly be a good purchase long term.  A property is  tangible and unique.  I had money set aside to invest in the stocks, just too scared to pull the trigger.  I'm sticking to what I know, and I know real estate.

Chad M Phillips Broker Assoc. (Lic: 01405825)
RE/MAX Gold (Lic: 00983982)
2998 Douglas Blvd., #125
Roseville, CA 95661
Primary: 916-390-1476 Secondary: 916-218-7500
http://www.realestate-roseville.com

I just got a real estate legal update from a local attorney here in Fair Oaks.  Seems the debt forgiveness act isn't being extended here for the state taxes.  You'll be fine with the federal taxes being a short sale or foreclosure could effect your taxes come April 15th.
The best thing to do is to contact a CPA to see how the situation will effect you come tax time.  If you wish to pursue a short sale, that's where I can help you.  I'm CDPE certified; move over, I have experience and have done my fair share of short sales since 2008.  Contact me with questions: Chad Phillips Re/Max Gold Roseville CA 916-390-1476

Just found out some changes with the VA financing.  They're now allowing the escrow fee and pest report and repairs to be paid by the buyer.  I believe it's capped at 1% of the purchase price, but this is going to make selling homes in Roseville and Rocklin easier.
I have a great listing priced below market in Rocklin at 3320 Sandalwood Rd.  It's a short sale and working on an approved price at 415,000.  Comps are going at 440,000.  This property needs a roof!  I have a bid for 13,000 to get a new roof put on.
We're seeing prices recede slightly.  I'm not sure if that just due to the shift in supply and demand or if it's simply a market correction.  Either way buyers have a better negotiating position now then several months ago.  The market tends to slow down as we enter the holiday season.  Very typical this time of year.
This concludes your real estate market update for the Roseville area for today.

-Chad

Congrats to Kelly and Bret.  We sold their house the first weekend on the market just under asking price.  The values in Folsom have held stronger than some of the surrounding areas.  There's a high demand, especially in Empire ranch.
Team Phillips has another property closing escrow today.  Congratulations to Mark and Channelle on their purchase in Fair Oaks, CA.  Love the lot size!
I just reduced the price on my listing in Antelope.  8424 Palmerson Dr.  Well taken care of property!  3 bed, 2 bath, 1762 sqft listed at 279,000.  That's only 158 a sqft!  The roof is 5 years old and the heat/air is 1 year old.  Real hardwood floors, was a model home when the subdivision was built.