Plumas Lake Real Estate Stats:

• 29 sales over the past 90 days
• Median sales price over the past 90 days:  $187,500
• Median list price over the past 90 days:  $165,000
• Average price per sq ft over the past 90 days:  $81.83
• 16 current active listings
• 41 current active short sale listings
• 19 current active short sale contingents (in contract)
• 14 pendings

For reference, here is a graph I posted in December 2009. I thought it might be helpful to share again to give a greater perspective of the market now that over a year has passed.

I know it’s really discouraging to see such a heavy decline through the years (trust me, I’m a home owner who bought in 2004 - I know), but Plumas Lake is not alone in experiencing a decline in property value. It looks like overall the market saw a dip of $50,000 over the past 36 months, but at the same time, the edge of both graphs above look very similar (despite having a difference in age) - which shows the market has been showing stronger signs toward stability. Lastly, if anything, numbers like this ought to encourage the home owner to make sure the Assessor has rightly adjusted property taxes downward. Keep me posted if you have questions on that.

Keep us posted if you have any questions or if you think you might have a need for property tax assistance. We are here to help you. Call 916.595.3735, email us, or fill out the contact form and we’ll look up your property for free.

What do you see? Does anything surprise you? What happened between 2004 and 2005 to chop the level of permits in half? Do you think more or less permits will be issued in 2011? Do you pay attention to the number of permits pulled as an economic indicator?

Keep us posted if you have any questions or if you think you might have a need for property tax assistance. We are here to help you. Call 916.595.3735, email us, or fill out the contact form and we’ll look up your property for free.

There are actually three zip codes in Rancho Cordova (only two with houses really though). Let’s put the 95670 and 95742 zip codes in Rancho Cordova next to each other below and do a little comparison to see if we might get better data this way as opposed to just looking at the graph above. What do you see when viewing data in the 95670 zip code (not Gold River – only Rancho Cordova) in comparison to the 95742 zip code (Anatolia, Kavala Ranch, Sunridge)?

Rancho Cordova Real Estate Data (95670 Zip Code)
* 107 sales over the past 90 days
* 5.4 months of current housing supply listed on the market
* $146,000 median sales price over the past 90 days
* Average days on market: 64 days
* Number of active listings: 92
* Number of active short sale listings: 59
* Number of active short sale contingent listings: 43
* Number of pendings: 56
* 42% of all sales over the past year were REO (bank-owned)
* 26% of all sales over the past year were Short Sales
* Roughly 68% of all sales were distressed in some regard (REO or SS)
* Unemployment in Rancho Cordova is 14.4% per EDD (as of 12/2010)
* Unemployment in Sacramento County is 12.6% per EDD (as of 12/2010)

Rancho Cordova Real Estate Data (95742 Zip Code)
* 61 sales over the past 90 days
* 7.1 months of current housing supply listed on the market
* $231,000 median sales price over the past 90 days
* Average days on market: 86 days
* Number of active listings: 44
* Number of active short sale listings: 60
* Number of active short sale contingent listings: 41
* Number of pendings: 54
* 32% of all sales over the past year were REO (bank-owned)
* 29% of all sales over the past year were Short Sales
* Roughly 61% of all sales were distressed in some regard (REO or SS)
* Unemployment in Rancho Cordova is 14.4% per EDD (as of 12/2010)
* Unemployment in Sacramento County is 12.6% per EDD (as of 12/2010)

What stands out to you about the differences between 95670 and 95742? When we combine 95742 data into 95670 data to show all of Rancho Cordova, the entire median sales price level for Rancho Cordova increases, doesn’t it? Can you see why I think it’s important to look at these zip codes separately? Ah, we can make data say so many things if we’re not careful to really dissect it.

Keep us posted if you have any questions or if you think you might have a need for property tax assistance. We are here to help you. Call 916.595.3735, email us, or fill out the contact form and we’ll look up your property for free. 

As you can see, when looking at all sales from 2006, property values have clearly declined over time. There is a very obvious downtrend, wouldn’t you say? Additionally, there is a wide value spectrum too, which represents a big difference in neighborhoods like White Rock, Lincoln Village, Walnutwood, La Loma, Stone Creek, Sunriver, and Anatolia.

Let’s take a closer look at the 95670 zip code in Rancho Cordova(not Gold River – that’s a different market). Sometimes sales in Gold River and Rancho Cordova are grouped together on graphs because they have the same zip code, but that’s not proper in my opinion. Regarding the 95742 zip code, we can take a look at data in a future post if you’d like (just let me know). Overall it looks like there has been a decline in sales prices over the past year, though not as steep of a decline as in previous years. The trend toward more stability is similar to Citrus Heights.

Now let’s put an age parameter on the data to see if there is any difference between properties built before and after 1990. As you can see when comparing the graph above with the one below, newer areas in the 95670 represent the highest sales in the zip code (this would be basically be the Stone Creek area and Capital Village).

Here is a spectrum of price per square foot for all sales in Rancho Cordova (95670) over the past year. Remember though, don’t just take your square footage and multiply it by the average price per square foot. That’s not always the best idea to determine the value of your house. See my previous post entitled “Is price per square foot an accurate way to measure the value of a house?”

Specific Rancho Cordova Real Estate Market Data (95670 zip code):

• 165 sales over the past 90 days.
• 89 current active listings
• 55 current active short sale listings
• 42 current short sale contingent listings (this means an offer has been submitted already)
• 39% of all sales over the past year were REO (bank-owned)
• 22% of all sales over the past year were Short Sales
• Roughly 61% of all sales were distressed in some regard (REO or SS)
• Unemployment in Rancho Cordova is 14.6% per EDD (as of 11/2010)
• Unemployment in Sacramento County is 12.8% per EDD (as of 11/2010)

Keep us posted if you have any questions or if you think you might have a need for property tax assistance. We are here to help you. Call 916.595.3735, email us, or fill out the contact form and we’ll look up your property for free.

As you can see, when looking at all sales from 2006, property values have clearly declined over time. When you consider the lower end of the market was hovering around $250,000 in mid-2006, but is now closer to $100,000, the drop in property value is pretty substantial. There is big difference for the upper end too.

But at least the past three years have shown a bit more stability, right? That’s encouraging news for home owners (I know real estate data can feel dysmal at times). Overall the trend below over the past three years appears to show a decline,  but the blue dots representing sales sure do look a whole lot more horizontal over the past couple years. 

For historical reference, below are two graphs of all sales in Citrus Heights between 1997-2010 based on the 95610 and 95621 zip codes. The blue line represents monthly median price figures for the respective zip code, whereas the red line shows the market-wide median price (Sacramento Area). These historic graphs come from the Sacramento Association of Realtors.

Specific Citrus Heights Real Estate Market Data:

• 217 sales over the past 90 days.
• 171 current active listings
• 108 current active short sale listings
• 84 current short sale contingent listings (this means an offer has been submitted already)
• 39.5% of all sales over the past year were REO (bank-owned)
• 25% of all sales over the past year were Short Sales
• Roughly 65% of all sales were distressed in some regard (REO or SS)
• Unemployment in Citrus Heights is 9.0% per EDD (as of 11/2010)
• Unemployment in Sacramento County is 12.8% per EDD (as of 11/2010)

Keep us posted if you have any questions or if you think you might have a need for property tax assistance. We are here to help you. Call 916.595.3735, email us, or fill out the contact form and we’ll look up your property for free.

Have a look at the following graphs, see my commentary below, and let us know what you think. What do you see?

Carmichael Trend Graph (95608 zip code):

Elk Grove Trend Graph (95624 zip code):

Elk Grove Trend Graph (95758 zip code):

Fair Oaks Trend Graph (95628 zip code):

Greenhaven / Pocket Trend Graph (95831 zip code):

Land Park / Curtis Park Trend Graph (95818 zip code):

Mather Trend Graph (95655 zip code):

West Sacramento Trend Graph (95605 zip code):

Basically, if you bought a house today in the post-bubble real estate market in Sacramento, you’d be paying somewhere around late 2001 house prices generally (depending on the area of course). Many areas currently have a median price somewhere just before 2002, while some of the higher-priced zip codes tend to have a median price level right now closer to 2003-ish level. Keep in mind too that each house is different and may or may not be consistent with the overall zip code trend.

If you have any questions or insight, I’d love to hear your comment belows. If you have a need for my property tax consluting services call 916.595.375 or send us an email. 

How do the graphs above strike you?

The first graph contains all Rosemont sales with no parameters, whereas the second graph depicts only sales between 1300-1700 square feet built between 1950-1990. You can see how the second graph trims off some of the top and bottom of the market. If I were to continue to include graphs in this post, you’d see the data getting tighter and tighter as I narrow down the parameters on my data. This tightening phenomenon really helps to illuminuate the beginning part of my appraisal process in researching the big picture in a neighborhood, and then slowly breaking down the data into chunks more similar to the house I am appraising. The more research I do, the more I narrow down a realistic market value for a property.

Let me know if you have questions or any real estate appraisal needs. Call 916.595.3735 or send us an email. We are here to help you.

After our research was complete, we determined the Assessor had this Natomas property assessed over $80,000 too high. This amount represents $800-$1,000 in property taxes for the year. Anyone want to pay about $1,000 out-of-pocket in this economy based on an overassessment? It was a wise move for this home owner to do something about her property taxes.

Call us at 916.595.3735 if you have any questions about the appeasl process. Our work is very thorough, we’re great at communication, and our fees is extremely reasonable. We’re glad to investigate your property for free to see if there is a potential savings to be had. Click HERE, fill out the form, and we’ll get back with you quickly.

Let’s take a look at the Tahoe Park area of Sacramento. What are the boundaries to Tahoe Park? As you may know, the Tahoe Park neighborhood is comprised of four sections as shown below.

Let’s think further about the neighborhood boundaries above. If you are local, do you see any big value differences between some of the bordering areas such as Tallac Village, Colonial Heights, Elmhurst, Oak Park or UC Med Center? Some of these portions are competitive or more similar to each other, but others are VERY different neighborhoods despite sharing a street border such as Stockton Blvd.

What sort of boundaries have you seen make a big difference in real estate values in the real estate market? Maybe you’re thinking of a certain dividing street, a freeway, or a newly constructed subdivision in the midst of an older tract. And do you think the Assesor has taken into consideration these important boundaries when assessing your Sacramento area property?

Feel free to contact us with any real estate questions and insight into property taxes. We’re here to help. 916.595.3735.

* Data is based on Sacramento MLS for all single family detached properties in Sacramento.