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

As far as I am concerned any time you buy a home in the Sacramento Real Estate Market... it's an investment!

Whether you live in it or buy it for a rental... You have purchased a piece of real estate that will provide you a return over the next several years.

This weekend I did inspections with one of my first time home buyer clients! I took some time while I was waiting for the inspection to shoot some video. I wanted to share with you a great little neighborhood in Sacramento I sell homes in.

When I am working with an investor or first time home buyer who needs to keep their price range in the $100k range,  I prepare my clients for a rough road.

There are a couple reasons...

1.  This is a very competitive price range!

2. Inventory is down... Making getting an offer more of a challenge!

3.  It's tough to find a decent area in this price range you would feel safe in at night!

4. Will the condition of the home allow you to get a mortgage for it?

Watch this video and get some insight to the challenges investors and first time home buyers are having in this price range. See homes that I sold in the neighborhood and find out why I sell so many home here.

Thanks for watching another Sacramento Real Estate Adventure! I look forward to helping you invest in the Sacramento Real Estate Market!

Time for another Sacramento Real Estate Market! 

Let's take a look back at what home sales did last month in October.

Pending sales are still way up! In fact, they are at the highest levels since April of this year. As I mentioned, in my last month's report, I think this has to do with the tax credit that expired around the spike in pending sales in April.  To get more insite about this... read last month's market report >> 

The good news this month is pending sales are continuing to increase! This means home buyers are out in force making offers on homes?  Are you? 

The cost per square foot increased slightly this month, but overall have remained steady in
the last 12 months.

Let's look at original asking price vs. the sold price.  The green line below indicates the average original listing price for homes in our area. The red line shows what the sellers actually sold the homes for. So on average in October, we saw homes sell for approx 13% less than their original listing price.

Inventory levels increased this month again as we see more homes available for sale in the Sacramento Real Estate Market! If the inventory levels continue to rise, we could see another slight drop in prices if we do not absorb some of this new inventory quick enough.

It's important that we also keep an eye on foreclosure trends in our area.  As you can see below, Notice of Defaults are down 19.49% from last month. When a Notice of Default is filed.... this starts the first stage of the foreclosure process. Notice of Defaults in Sacramento County went down in October as well by 1.34% from last month.  Notice of Defaults are filed 21 days before the foreclosure sale and are the final stage of the foreclosure process. 

If you have been listening to the news, you may have heard a handful of lenders voluntarily haulted foreclosure filings in October. The concern was these lenders (allegedly) were processing their foreclosures improperly. This hault in all foreclosures more than likely impacted October's foreclosure numbers since the lenders involved were major players in our industry (Bank of America, GMAC, and PNC).  

So let's recap!

Our inventory of homes in the Sacramento market has continued to rise in the month of October.  This means more homes available for buyers. Pending sales continue to increase as well as more buyers get back in the game and shop for homes.

That is where we are today in regard to the Sacramento Real Estate Market! If you are interested to buy or sell a home... our team is here to help!