Are you in or out? It could make a huge difference in property value (and property taxes) whether you live in a certain neighborhood or not. Read More
The Archives
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Neighborhood Boundaries, Real Estate & Tahoe Park in Sacramento
Wednesday, June 9th, 2010A look at REOs & Short Sales: Is the Sacramento real estate market getting healthier?
Wednesday, May 26th, 2010How is the Sacramento real estate market doing? Is it getting better or worse? Are there more bank-owned sales right now than in recent years? Read More
Market Trends for the “Anatolia” area of Rancho Cordova: What do you see?
Wednesday, May 5th, 2010Here are a couple of trend graphs below for the 95742 zip code of Rancho Cordova. This area is comprised mostly of “Anatolia”, but also consists of a development called “Sunridge”, which is not part of the Anatolia HOA.
You be the appraiser here. What do you see in the trend graphs below when looking at the past years of sales? Is there anything you notice to be different or similar when comparing the two graphs? Do you think the Sacramento County Assessor has kept in touch with declining property values in the Anatolia neighborhood of Rancho Cordova? If you are a home owner, please speak on.
Past three years of sales:
Past one year of sales:
Graph of Sales in 95828 Zip Code of Sacramento
Friday, March 26th, 2010I thought this might interest anyone living or considering purchasing in the 95828 zip code of Sacramento. What do you see? What stands out to you about this trend graph? All sales are based on information provided in Sacramento MLS (single family detached sales only).
Looking Back on a Sacramento Fourplex
Wednesday, March 17th, 2010
Looking at the sales history of a property can be very telling. In fact, you can often get clues into the happenings of the real estate market. Here is an interesting sales history for a Sacramento fourplex I came across in the course of a current assignment I’m working on. This is not at all atypical because the market for residential-income properties really boomed in Sacramento (and then it fell hard too).
7/25/2000 – $110,000 sale
7/16/2002 – $278,000 sale
8/18/2004 – $435,000 sale
2/10/2005 – $459,000 sale
9/08/2008 – $377,500 sale (maybe a short sale – did not list in MLS)
5/01/2009 – $104,250 (transfer to bank – foreclosure)
7/13/2009 – $140,000 sale
What do you see? Does anything stand out to you? Let me know if you have any questions about the local real estate market or your neighborhoood. With the decline of property values in the Sacramento Region, it makes it very important to keep make sure that the Assessor reconciles their assessed value to a consistent level of true market value (it’s not always the same – at all).
13,745 Green Dots in Stockton
Sunday, January 17th, 2010How many sales were there in Stockton over the past three years? The answer is 13,745, and we’ve graphed them below for your viewing pleasure. Read More
Dissecting the Vacaville Real Estate Market
Saturday, January 16th, 2010I wanted to share some trend graphs with you as well as give a little insight into looking at and understanding market data properly.
A Market Rainbow in Benicia from 2005-2010
Friday, January 8th, 2010I thought it would be interesting to plot sales in the city of Benicia over the past five years to get a panoramic view of the ups and downs of the market. What do you see? I think the trend somewhat follows the pattern of a rainbow.
The graph is based on single family detached sales recorded in BAREIS (under 1.6 million dollars). There was only one sale above this level around 2.5 million, so it was most relevant to push that lone ranger to the side.
Rancho Murieta Real Estate Market Trends
Sunday, January 3rd, 2010Rancho Murieta is a CDP in Sacramento County off of Jackson Road and has somewhat of a secluded feel due to its location miles away from other suburban tracts. The community consists of two separate parts called Rancho Murieta North and Rancho Murieta South. Rancho Murieta is a retirement community to many, and is also attractive to many families. As of November 2009 Rancho Murieta has the second lowest unemployment rate in Sacramento County at 3.9% per EDD (Gold River is 2.1%).
What’s been happening the Rancho Murieta real estate market? Below are two graphs consisting of all single family detached sales and listings in Rancho Murieta per Sacramento area Metrolist. What do you see? Does anything stand out to you?
I’d be very curious to hear from home owners in Rancho Murieta about their community. What do you enjoy most about RM? What do you think your neighborhood has to offer to prospective buyers? How has Rancho Murieta fared during the housing bubble burst? What sort of impact do you think the foundation troubles in Rancho Murieta South has had on the RM market?
Let me know if you have any questions about property value and appealing your property taxes in Rancho Murieta.
Riding the Same Wave in Carmichael & Fair Oaks
Monday, December 28th, 2009I’m wrapping up an report tonight for an investor in Carmichael. While crunching numbers and running data, I decided to do a little comparison of sales in Carmichael and Fair Oaks. So I graphed all detached single family residential sales (from MLS) over the past three years and came up with the following trend graph. I only included sales less than 1.5 million since there are a very limited number of properties above that level.
All sales over the past 36 months in Carmichael are listed below in blue and all sales in Fair Oaks are displayed in green.
It’s interesting to see an overall common trend for both Carmichael & Fair Oaks, though not ultimately surprising since the communities tend to overall have a somewhat similar appeal in the marketplace (though Fair Oaks has a slight edge as local Realtor Nate Sisam mentions below). Despite there being niches in both communities that may be superior to other areas, and a slightly higher median price level in Fair Oaks, it seems that the ups and downs of the real estate market over the past few years have been taken in stride for both of these communities. In fact, the median price level for Fair Oaks over the past year was only 2% higher than Carmichael during the first 6 months of the year, and 4% higher during the past two consecutive quarters. For reference, the latest unemployment rate in Carmichael as of November 2009 is 9.2%, whereas the unemployment rate in Fair Oak si 7.0%. The rate of unemployment in Sacramento County as a whole for November 2009 is 12.5%.
Sacramento Realtor Nate Sisam gives us further insight:
Fair Oaks and Carmichael are both established neighborhoods that offer people larger than overage lot sizes and diverse architecture. It has always been that Fair Oaks commanded a slightly higher price due to several key elements. Fair Oaks was one of the first established “Country communities” in the 20′s-40′s with a rich history in Olive and Citrus farming. Today that heritage is still evident when looking at property in Fair Oaks. Additionally the Fair Oaks Village brings the community together and adds to the charm of the area. From an accessibility standpoint Fair Oaks is slightly more freeway accessible. I would note that these communities are diverse and that pockets within each of them could be considered equal.
What do you think of the graph above? Does anything stand out to you? If you live or work in Carmichael or Fair Oaks, what do you enjoy about the community? If you had your choice to live in either of these areas, which would you choose? Comments are welcome below.
City of Fairfield Recent Sales and Pendings
Monday, December 21st, 2009Here is a quick trend graph for you of all sales in the city of Fairfield over the past 12 months (red dots) as well as all current pendings (blue dots). What do you notice? Does anything stand out to you? Can you decipher any citywide trends based on this scatter graph? By the way, the unemployment rate in Fairfield as of November 2009 is 13.1%.
I know citywide graphs are not as descriptive as neighborhood-specific graphs or even if we looked at a specific square footage or age range in Fairfield. Just take the graph above for what it’s worth. It’s interesting to see six of the highest sales of the year over the past six months. Does it seem too that the lowest end of the market is a tad higher than the lowest point during the beginning of the year?
The Assessor’s Value vs. True Market Value
Monday, November 16th, 2009This is a graph I put together earlier today for a home owner as part of the total package for appealing his property taxes. Read More
The Crashing of the Fourplex Market in Sacramento
Monday, November 16th, 2009I wrote previously about the “Bursting of the Duplex Market in Sacramento“, so I figured I’d also provide a graph of the fourplex market so we can see visually what has Read More
The Up and Down Dynamic of Foreclosures and Short Sales in Sacramento County
Sunday, November 15th, 2009We hear so many voices in today’s real estate market talk about the foreclosure rate decreasing in the Sacramento Region. Is that true? Are there less REO (bank-owned) sales today than there were two or three years ago? Let’s look at some hard numbers below for Sacramento County.
The information above is based on all residential sales listed in Sacramento Metrolist over the past two years. Overall, it’s true that there were less bank-owned sales in Sacramento County during the last 12 months in comparison to the year before that. The foreclosure rate decreased by 5% overall, but the interesting thing is that short sales increased by 7% during this same time period. What do you make of that? Have short sales simply replaced what would have been a similar rate of foreclosure for this year? As a home owner or real estate agent, have you found banks to be more receptive to working with you to do a short sale? Comments welcome.
www.SacramentoTaxAppeals.com The Up and Down Dynamic of Foreclosures and Short Sales in Sacramento County
Gold River Market Trends: Past 3 Years of Sales
Thursday, November 12th, 2009What’s been happening in the Gold River real estate market over the past several years? Gold River is a census designated place located just east of Rancho Cordova, south of the American River, and north of Highway 50. This HOA community has 25 separate villages and a combination of detached and attached housing – all single family residential. Gold River has the lowest unemployment rate in Sacramento County right now at 2.1% as of September 2009, but that does not mean that home values have been unaffacted.
What do you notice about the graph above? It looks like the upper end of the market above $550,000 has pretty much disappeared during 2009. It’s also evident that in the midst of a downward trend over the past several years that there have been few sales under $300,000. What else do you see? If you are a local Realtor or home owner in Gold River, what insight do you have into your market, and why is Gold River desirable to buyers in the marketplace?
Gold River Real Estate Market Data:
- 251 sales over the past 3 years
- 62 sales over the past 12 months
- 13 sales over the past 90 days
- 11% of all sales over the past 12 months were REO (bank-owned)
- 3% of all sales over the past 12 months were Short Sales
- 29 current active listings
- 13 current active short sale listings
- 6 current pendings
The lower Western portion of the Gold River area is comprised of a subdivision called “Gold River Station”. Since Gold River Station is not a part of the Gold River HOA, it was prudent to look at data separately from Gold River. Sometimes outsiders to the area get confused about Gold River Station and therefore lump it in with Gold River, but it’s not a part of the Gold River neighborhood.
It’s not hard to see that there is a big value difference between Gold River and Gold River Station. Whereas there are few sales under $300,000 in Gold River, it appears that most recent sales in Gold River Station sold under $300,000. What else do you notice when comparing the graphs?
Feel free to contact me at 916-595-3735 or info@SacramentoTaxAppeals.com if you have any questions about the local real estate market or any appraisal needs.
www.SacramentoTaxAppeals.com Gold River Market Trends: Past 3 Years of Sales
