- Sacramento Real Estate Adventures - Your Sacramento Real Estate and mortgage blog!

If you have been watching the Sacramento Real Estate Market, you know we have been tthrough the ringer for the past 5 years or so! So where are we now? 

After many years of really rough waters... it feels like the storm might be over. I don't believe that to be the case.

The Sacramento Real Estate Market, in my opinion, still has a couple of years before we cycle through our bank owned homes and short sales. By the time that happens... Many people who previously lost their home will be able to qualify for a new home again. 

Stepping on my soap box now... 

I personally think at some point mortgage guidelines will soften when the Government figures out Consumers who lost their home... Can help pull all of us out of the hole we are currently in.

I would bet that most people who have lost their home in this historic real estate collapse would want to buy today if they could.

Make guidelines in regards to income, assets, credit, down payment, and job history tougher... But at least give potential home buyers an opportunity to buy! I say shorten the period of time a Consumer has to wait before they can buy their next  home. 

Well... I will get off my soap box now!

Let's look at specifc Sacramento County Real Estate Market statistics as of this past week: 

Median Price: $210,820
Most Expensive Listing:  $ 4,495,000
Asking Price per Square Foot:  $123
Average Days on Market:  113
Total Inventory: 6,389
Percent of Properties with Price Decrease:  28% 
Percent Relisted (reset DOM):  9%
Percent Flip (price increased):  6% 
New Listings: 565
Median Age: 30

Warren buffet says that you should buy when everyone else is getting out.I think that is the point we are in the Sacramento Real Estate Market.

Be selective on what you buy and make sure it cash flows using conservative numbers. If you get a discount on the property today... You have built in a buffer for another drop in price.

Our home values in Sacramento have dropped by over HALF OR MORE in the last 5 years... But that doesn't mean they can't slip some more.

BUT... There is a demand for more homes in our area as Investors and First Time Home Buyers fight over the remaining inventory.

First Time Home Buyers can now but a home and have a mortgage payment that is equivalent to their rent. Investor can easily find cash flow homes in price ranges under $150,000 in a market that will most likely see a jump in appreciation in the next several years.

That is the Sacramento Real Estate Market as I see it today! Even though there may be a residual storms still brewing... I don't think it will be anything like what we have already gone through.

If you would like to be PRE-APPROVED for your next home or investment property purchase, please give us a call at (916) 687-6868 or send us an email! We would love the opportunity to help you navigate our Sacramento Real Estate Market!